81_FR_86598 81 FR 86368 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change Amending NYSE Arca Equities Rule 7.35P To Provide for Widened Price Collar Thresholds for the Core Open Auction on Volatile Trading Days

81 FR 86368 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change Amending NYSE Arca Equities Rule 7.35P To Provide for Widened Price Collar Thresholds for the Core Open Auction on Volatile Trading Days

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 230 (November 30, 2016)

Page Range86368-86369
FR Document2016-28778

Federal Register, Volume 81 Issue 230 (Wednesday, November 30, 2016) 
[Federal Register Volume 81, Number 230 (Wednesday, November 30, 2016)]
[Notices]
[Pages 86368-86369]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-28778]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79388; File No. SR-NYSEArca-2016-136]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change Amending NYSE Arca Equities Rule 7.35P To Provide for Widened 
Price Collar Thresholds for the Core Open Auction on Volatile Trading 
Days

November 23, 2016.
    On September 28, 2016, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE 
Arca'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to amend NYSE Arca Equities Rule 7.35P \3\ to 
widen price collar thresholds for the Core Open Auction on volatile 
trading days. The proposed rule change was published for comment in the 
Federal Register on October 14, 2016.\4\ The Commission received no 
comment letters on the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ The Commission notes that the Exchange recently re-
designated NYSE Arca Equities Rule 7.35P as NYSE Arca Equities Rule 
7.35. See Securities Exchange Act Release No. 79078 (October 11, 
2016), 81 FR 71559 (October 17, 2016) (SR-NYSEArca-2016-135).
    \4\ See Securities Exchange Act Release No. 79068 (October 7, 
2016), 81 FR 71127.
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    Section 19(b)(2) of the Act \5\ provides that, within 45 days of 
the publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this proposed rule change 
is November 28, 2016. The Commission is extending this 45-day time 
period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is appropriate to designate a longer 
period within which to take action on the proposed rule change so that 
it has sufficient time to consider the proposed rule change. 
Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates January

[[Page 86369]]

12, 2017, as the date by which the Commission shall either approve or 
disapprove or institute proceedings to determine whether to disapprove 
the proposed rule change (File Number SR-NYSEArca-2016-136).
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    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-28778 Filed 11-29-16; 8:45 am]
 BILLING CODE 8011-01-P

86368 Federal Register / Vol. 81, No. 230 / Wednesday, November 30, 2016 / Notices 19(b)(3)(A) of the Act 11 and Rule 19b– NYSEMKT–2016–107 on the subject SECURITIES AND EXCHANGE 4(f)(6) thereunder.12 Because the line. COMMISSION proposed rule change does not: (i) significantly affect the protection of Paper Comments [Release No. 34–79388; File No. SR– NYSEArca–2016–136] investors or the public interest; (ii) • Send paper comments in triplicate impose any significant burden on to Brent J. Fields, Secretary, Securities Self-Regulatory Organizations; NYSE competition; and (iii) become operative and Exchange Commission, 100 F Street Arca, Inc.; Notice of Designation of a prior to 30 days from the date on which Longer Period for Commission Action NE., Washington, DC 20549–1090. it was filed, or such shorter time as the on a Proposed Rule Change Amending Commission may designate, if All submissions should refer to File NYSE Arca Equities Rule 7.35P To consistent with the protection of Number SR–NYSEMKT–2016–107. This Provide for Widened Price Collar investors and the public interest, the file number should be included on the Thresholds for the Core Open Auction proposed rule change has become subject line if email is used. To help the on Volatile Trading Days effective pursuant to Section 19(b)(3)(A) Commission process and review your of the Act and Rule 19b–4(f)(6)(iii) November 23, 2016. comments more efficiently, please use thereunder.13 On September 28, 2016, NYSE Arca, only one method. The Commission will A proposed rule change filed under Inc. (the ‘‘Exchange’’ or ‘‘NYSE Arca’’) post all comments on the Commission’s filed with the Securities and Exchange Rule 19b–4(f)(6) 14 normally does not Internet Web site (http://www.sec.gov/ become operative prior to 30 days after Commission (‘‘Commission’’), pursuant rules/sro.shtml). Copies of the to Section 19(b)(1) of the Securities the date of the filing. However, pursuant submission, all subsequent to Rule 19b4(f)(6)(iii),15 the Commission Exchange Act of 1934 (‘‘Act’’) 1 and Rule amendments, all written statements 19b–4 thereunder,2 a proposed rule may designate a shorter time if such with respect to the proposed rule action is consistent with the protection change to amend NYSE Arca Equities change that are filed with the Rule 7.35P 3 to widen price collar of investors and the public interest. Commission, and all written thresholds for the Core Open Auction At any time within 60 days of the communications relating to the on volatile trading days. The proposed filing of such proposed rule change, the proposed rule change between the rule change was published for comment Commission summarily may in the Federal Register on October 14, Commission and any person, other than temporarily suspend such rule change if 2016.4 The Commission received no those that may be withheld from the it appears to the Commission that such comment letters on the proposed rule action is necessary or appropriate in the public in accordance with the provisions of 5 U.S.C. 552, will be change. public interest, for the protection of Section 19(b)(2) of the Act 5 provides investors, or otherwise in furtherance of available for Web site viewing and printing in the Commission’s Public that, within 45 days of the publication the purposes of the Act. If the of notice of the filing of a proposed rule Commission takes such action, the Reference Room, 100 F Street NE., change, or within such longer period up Commission shall institute proceedings Washington, DC 20549 on official to 90 days as the Commission may under Section 19(b)(2)(B) 16 of the Act to business days between the hours of designate if it finds such longer period determine whether the proposed rule 10:00 a.m. and 3:00 p.m. Copies of the to be appropriate and publishes its change should be approved or filing also will be available for reasons for so finding or as to which the disapproved. inspection and copying at the principal self-regulatory organization consents, office of the Exchange. All comments the Commission shall either approve the IV. Solicitation of Comments received will be posted without change; proposed rule change, disapprove the Interested persons are invited to the Commission does not edit personal proposed rule change, or institute submit written data, views, and identifying information from proceedings to determine whether the arguments concerning the foregoing, submissions. You should submit only proposed rule change should be including whether the proposed rule information that you wish to make disapproved. The 45th day after change is consistent with the Act. available publicly. All submissions publication of the notice for this Comments may be submitted by any of should refer to File Number SR– proposed rule change is November 28, the following methods: NYSEMKT–2016–107 and should be 2016. The Commission is extending this Electronic Comments submitted on or before December 21, 45-day time period. 2016. The Commission finds that it is • Use the Commission’s Internet appropriate to designate a longer period comment form (http://www.sec.gov/ For the Commission, by the Division of within which to take action on the rules/sro.shtml); or Trading and Markets, pursuant to delegated proposed rule change so that it has • Send an email to rule-comments@ authority.17 sufficient time to consider the proposed sec.gov. Please include File Number SR– Robert W. Errett, rule change. Accordingly, the Deputy Secretary. Commission, pursuant to Section 11 15 U.S.C. 78s(b)(3)(A). [FR Doc. 2016–28779 Filed 11–29–16; 8:45 am] 19(b)(2) of the Act,6 designates January 12 17 CFR 240.19b–4(f)(6). BILLING CODE 8011–01–P 13 In addition, Rule 19b–4(f)(6)(iii) requires the 1 15 U.S.C. 78s(b)(1). Exchange to give the Commission written notice of 2 17 CFR 240.19b–4. the Exchange’s intent to file the proposed rule 3 The Commission notes that the Exchange sradovich on DSK3GMQ082PROD with NOTICES change, along with a brief description and text of recently re-designated NYSE Arca Equities Rule the proposed rule change, at least five business days 7.35P as NYSE Arca Equities Rule 7.35. See prior to the date of filing of the proposed rule Securities Exchange Act Release No. 79078 (October change, or such shorter time as designated by the 11, 2016), 81 FR 71559 (October 17, 2016) (SR– Commission. The Exchange has satisfied this NYSEArca–2016–135). requirement. 4 See Securities Exchange Act Release No. 79068 14 17 CFR 240.19b–4(f)(6). (October 7, 2016), 81 FR 71127. 15 17 CFR 240.19b–4(f)(6)(iii). 5 15 U.S.C. 78s(b)(2). 16 15 U.S.C. 78s(b)(2)(B). 17 17 CFR 200.30–3(a)(12). 6 15 U.S.C. 78s(b)(2). 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Federal Register / Vol. 81, No. 230 / Wednesday, November 30, 2016 / Notices 86369 12, 2017, as the date by which the II. Self-Regulatory Organization’s historically looked at a company’s Commission shall either approve or Statement of the Purpose of, and shares outstanding as of September 30 disapprove or institute proceedings to Statutory Basis for, the Proposed Rule to determine qualification for the determine whether to disapprove the Change following year. On occasion, there is a proposed rule change (File Number SR– In its filing with the Commission, the company that does not qualify [sic] Tier NYSEArca–2016–136). self-regulatory organization included One or Tier Two services based on its For the Commission, by the Division of statements concerning the purpose of, shares outstanding as of September 30, Trading and Markets, pursuant to delegated and basis for, the proposed rule change but that subsequently completes a authority.7 and discussed any comments it received corporate action (such as a share on the proposed rule change. The text issuance or stock split) between October Robert W. Errett, 1 and December 31 that would enable it of those statements may be examined at Deputy Secretary. to either (i) qualify for the first time or the places specified in Item IV below. [FR Doc. 2016–28778 Filed 11–29–16; 8:45 am] The Exchange has prepared summaries, (ii) qualify for a higher tier of services BILLING CODE 8011–01–P set forth in sections A, B, and C below, if the Exchange made its eligibility of the most significant parts of such determination as of a later date. Under statements. existing Exchange rules, the unfortunate SECURITIES AND EXCHANGE outcome for such companies is that they COMMISSION A. Self-Regulatory Organization’s do not qualify to receive complimentary Statement of the Purpose of, and the products and services for, in some cases, Statutory Basis for, the Proposed Rule nearly 15 months after they became [Release No. 34–79383; File No. SR–NYSE– Change eligible. 2016–77] 1. Purpose The Exchange proposes to amend Self-Regulatory Organizations; New Section 907.00 of the Manual to clarify Pursuant to Section 907.00 of the that, if a company becomes a Tier One York Stock Exchange LLC; Notice of Manual, the Exchange offers a suite of Filing and Immediate Effectiveness of or Tier Two Eligible Current Listing due complimentary products and services to to a corporate action completed between Proposed Rule Change Amending certain companies currently listed on Section 907.00 of the Listed Company October 1 and December 31 of a the Exchange (‘‘Eligible Current particular year that results in an Manual Listings’’). A company qualifies to increased number of outstanding shares, November 23, 2016. receive such complimentary products such company will receive the suite of and services based on the number of complimentary products and services to Pursuant to Section 19(b)(1) 1 of the shares of common stock in the case of which it is entitled by virtue of that Securities Exchange Act of 1934 (the U.S. companies or other equity security designation as of the immediately ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 in the case of non-U.S. companies that following January 1. The Exchange will notice is hereby given that, on it has outstanding. Presently, the continue to conduct its initial eligibility November 10, 2016, New York Stock Exchange determines eligibility to review as of September 30. This will Exchange LLC (‘‘NYSE’’ or the receive complimentary products and enable the Exchange to capture the vast ‘‘Exchange’’) filed with the Securities services for a calendar year based on the majority of Tier One and Tier Two and Exchange Commission (the number of shares outstanding as of Eligible Current Listings to assist both ‘‘Commission’’) the proposed rule September 30 of the immediately itself and listed companies in their change as described in Items I and II preceding calendar year. If a company planning and budget process for the below, which Items have been prepared has the requisite number of shares following year. The Exchange will then by the self-regulatory organization. The outstanding on September 30, it will conduct a secondary review each year Commission is publishing this notice to begin (or continue, as the case may be) towards the end of December to solicit comments on the proposed rule to receive the suite of complimentary determine whether any additional change from interested persons. products and services for which it is companies have become eligible to I. Self-Regulatory Organization’s eligible as of the following January 1.4 receive services or have become eligible For planning and budgeting purposes, to receive a higher tier or [sic] services. Statement of the Terms of Substance of it is helpful for both the Exchange and The Exchange notes that listed the Proposed Rule Change listed companies to determine a companies are subject to an annual fee The Exchange proposes to amend reasonable period in advance the Tier that is billed each January 1 and is Section 907.00 of the Listed Company One and Tier Two Eligible Current calculated based on the number of Manual (the ‘‘Manual’’) to clarify how it Listings that will receive complimentary shares outstanding on the preceding will treat currently listed U.S. issuers products and services the following December 31.6 In this regard, under the and non-U.S. companies who qualify to year.5 Therefore, the Exchange has Exchange’s existing rules, a company receive Tier One or Tier Two services as that increases its shares outstanding due 4 Eligible Current Listings that have 270 million a result of a corporate action completed to a corporate action completed or more shares issued and outstanding as of between October 1 and December 31 of September 30 (each a ‘‘Tier One Eligible Current subsequent to September 30 would be a particular calendar year. The proposed Listing’’) are presently offered (i) a choice of market billed a higher annual fee on the rule change is available on the surveillance or market analytics products and following January 1 but would not Exchange’s Web site at www.nyse.com, services, and (ii) Web-hosting and Web-casting receive any complimentary products products and services, on a complimentary basis. sradovich on DSK3GMQ082PROD with NOTICES at the principal office of the Exchange, Eligible Current Listings that have between 160 and services for which it may be eligible and at the Commission’s Public million and 269.9 million shares issued and for an entire year. The Exchange’s Reference Room. outstanding as of September 30 (each a ‘‘Tier Two Eligible Current Listing’’) are presently offered a qualifying issuers with nearly three months to choice of market analytics or Web-hosting and Web- select from the available services in their tier for the 7 17 CFR 200.30–3(a)(31). casting products and services. following calendar year as well as providing non- 1 15 U.S.C. 78s(b)(1). 5 See Securities Exchange Act Release No. 34– qualifying issuers with time to budget and plan for 2 15 U.S.C. 78a. obtaining the service elsewhere. 68143 (November 2, 2012), 77 FR 67053 (November 3 17 CFR 240.19b–4. 8, 2012) (SR–NYSE–2012–44). This provides 6 See Section 902.02 of the Manual. VerDate Sep<11>2014 16:51 Nov 29, 2016 Jkt 241001 PO 00000 Frm 00051 Fmt 4703 Sfmt 4703 E:\FR\FM\30NON1.SGM 30NON1


Document Created: 2016-11-30 02:17:55
Document Modified: 2016-11-30 02:17:55
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 86368 
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