81_FR_93960 81 FR 93715 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Withdrawal of a Proposed Rule Change, as Modified by Amendments No. 1 and 2 Thereto, Relating to Amendments to NYSE MKT Rules 1600 et seq. and the Listing Rules Applicable to the Shares of the Nuveen Diversified Commodity Fund and the Nuveen Long/Short Commodity Total Return Fund

81 FR 93715 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Withdrawal of a Proposed Rule Change, as Modified by Amendments No. 1 and 2 Thereto, Relating to Amendments to NYSE MKT Rules 1600 et seq. and the Listing Rules Applicable to the Shares of the Nuveen Diversified Commodity Fund and the Nuveen Long/Short Commodity Total Return Fund

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 245 (December 21, 2016)

Page Range93715-93716
FR Document2016-30694

Federal Register, Volume 81 Issue 245 (Wednesday, December 21, 2016) 
[Federal Register Volume 81, Number 245 (Wednesday, December 21, 2016)]
[Notices]
[Pages 93715-93716]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-30694]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79561; SR-NYSEMKT-2016-58]


Self-Regulatory Organizations; NYSE MKT LLC; Notice of Withdrawal 
of a Proposed Rule Change, as Modified by Amendments No. 1 and 2 
Thereto, Relating to Amendments to NYSE MKT Rules 1600 et seq. and the 
Listing Rules Applicable to the Shares of the Nuveen Diversified 
Commodity Fund and the Nuveen Long/Short Commodity Total Return Fund

December 15, 2016.
    On May 24, 2016, NYSE MKT LLC (``Exchange'') 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 among other 
things, amend NYSE MKT Rules 1600 et seq. and to amend the listing 
rules applicable to the shares of the Nuveen Diversified Commodity Fund 
and the Nuveen Long/Short Commodity Total Return Fund, which the 
Exchange currently lists and trades. The proposed rule change was 
published for comment in the Federal Register on June 13, 2016.\3\ On 
July 28, 2016, pursuant to Section 19(b)(2) of the Act,\4\ the 
Commission designated a longer period within which to approve the 
proposed rule change, disapprove the proposed rule change, or institute 
proceedings to determine whether to disapprove the proposed rule 
change.\5\ On September 2, 2016, the Exchange filed Amendment No. 1 to 
the proposed rule change, which replaced and superseded the proposed 
rule change as originally filed.\6\ On September 9, 2016, the 
Commission instituted proceedings under Section 19(b)(2)(B) of the 
Act,\7\ to determine whether to approve or disapprove the proposed rule 
change, as modified by Amendment No. 1.\8\ On November 10, 2016, the 
Exchange filed Amendment No. 2 to the proposed rule change, which 
replaced and superseded the proposed rule change as modified by 
Amendment No. 1 thereto its entirety.\9\ On December 8, 2016, pursuant 
to Section 19(b)(2) of the Act,\10\ the Commission designated February 
8, 2017 as the date by which the Commission would either approve or 
disapprove the proposed rule change, as modified by Amendments No. 1 
and 2.\11\ The Commission has received two comments on the 
proposal.\12\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 78000 (June 7, 
2016), 81 FR 38232.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 78432, 81 FR 51248 
(August 3, 2016). The Commission designated September 9, 2016, as 
the date by which the Commission would either approve or disapprove, 
or institute proceedings to determine whether to disapprove, the 
proposed rule change.
    \6\ Amendment No. 1 is available at https://www.sec.gov/comments/sr-nysemkt-2016-58/nysemkt201658-2.pdf.
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ See Securities Exchange Act Release No. 78804 (September 9, 
2016), 81 FR 63543 (September 15, 2016).
    \9\ Amendment No. 2 is available at https://www.sec.gov/comments/sr-nysemkt-2016-58/nysemkt201658-4.pdf.
    \10\ 15 U.S.C. 78s(b)(2).
    \11\ See Securities Exchange Act Release No. 79510 (December 8, 
2016), 81 FR 90402 (December 14, 2016).
    \12\ See letter dated July 4, 2016, to Division of Trading and 
Markets, Commission (``Anonymous Letter''); and letter from Michael 
Szkodzinski, Associate General Counsel, Weiss Asset Management LP, 
to Brent J. Fields, Secretary, Commission, dated October 6, 2016. 
The comments regarding the proposed rule change are available at: 
https://www.sec.gov/comments/sr-nysemkt-2016-58/nysemkt201658.shtml.
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    On December 9, 2016, the Exchange withdrew the proposed rule 
change, as modified by Amendments No. 1 and 2 (SR-NYSEMKT-2016-58).


[[Page 93716]]


    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016-30694 Filed 12-20-16; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 245 / Wednesday, December 21, 2016 / Notices 93715 Regulatory Commission to add a POSTAL SERVICE Commodity Total Return Fund, which domestic shipping services contract to the Exchange currently lists and trades. the list of Negotiated Service Product Change—Priority Mail The proposed rule change was Agreements in the Mail Classification Negotiated Service Agreement published for comment in the Federal Schedule’s Competitive Products List. AGENCY: Postal ServiceTM. Register on June 13, 2016.3 On July 28, 2016, pursuant to Section 19(b)(2) of the DATES: Effective date: December 21, ACTION: Notice. Act,4 the Commission designated a 2016. SUMMARY: The Postal Service gives longer period within which to approve FOR FURTHER INFORMATION CONTACT: notice of filing a request with the Postal the proposed rule change, disapprove Elizabeth A. Reed, 202–268–3179. Regulatory Commission to add a the proposed rule change, or institute domestic shipping services contract to proceedings to determine whether to SUPPLEMENTARY INFORMATION: The the list of Negotiated Service disapprove the proposed rule change.5 United States Postal Service® hereby Agreements in the Mail Classification On September 2, 2016, the Exchange gives notice that, pursuant to 39 U.S.C. Schedule’s Competitive Products List. filed Amendment No. 1 to the proposed 3642 and 3632(b)(3), on December 14, DATES: Effective date: December 21, rule change, which replaced and 2016, it filed with the Postal Regulatory 2016. superseded the proposed rule change as Commission a Request of the United originally filed.6 On September 9, 2016, FOR FURTHER INFORMATION CONTACT: States Postal Service to Add Priority the Commission instituted proceedings Elizabeth A. Reed, 202–268–3179. Mail Express Contract 44 to Competitive under Section 19(b)(2)(B) of the Act,7 to SUPPLEMENTARY INFORMATION: The determine whether to approve or Product List. Documents are available at United States Postal Service® hereby www.prc.gov, Docket Nos. MC2017–49, disapprove the proposed rule change, as gives notice that, pursuant to 39 U.S.C. modified by Amendment No. 1.8 On CP2017–75. 3642 and 3632(b)(3), on December 14, November 10, 2016, the Exchange filed Stanley F. Mires, 2016, it filed with the Postal Regulatory Amendment No. 2 to the proposed rule Attorney, Federal Compliance. Commission a Request of the United change, which replaced and superseded States Postal Service to Add Priority the proposed rule change as modified by [FR Doc. 2016–30681 Filed 12–20–16; 8:45 am] Mail Contract 275 to Competitive Amendment No. 1 thereto its entirety.9 BILLING CODE 7710–12–P Product List. Documents are available at On December 8, 2016, pursuant to www.prc.gov, Docket Nos. MC2017–52, Section 19(b)(2) of the Act,10 the CP2017–78. Commission designated February 8, POSTAL SERVICE Stanley F. Mires, 2017 as the date by which the Product Change—Priority Mail Attorney, Federal Compliance. Commission would either approve or Negotiated Service Agreement [FR Doc. 2016–30684 Filed 12–20–16; 8:45 am] disapprove the proposed rule change, as BILLING CODE 7710–12–P modified by Amendments No. 1 and 2.11 AGENCY: Postal ServiceTM. The Commission has received two comments on the proposal.12 ACTION: Notice. SECURITIES AND EXCHANGE On December 9, 2016, the Exchange SUMMARY: The Postal Service gives COMMISSION withdrew the proposed rule change, as modified by Amendments No. 1 and 2 notice of filing a request with the Postal [Release No. 34–79561; SR–NYSEMKT– (SR–NYSEMKT–2016–58). Regulatory Commission to add a 2016–58] domestic shipping services contract to 3 See Securities Exchange Act Release No. 78000 the list of Negotiated Service Self-Regulatory Organizations; NYSE (June 7, 2016), 81 FR 38232. Agreements in the Mail Classification MKT LLC; Notice of Withdrawal of a 4 15 U.S.C. 78s(b)(2). Schedule’s Competitive Products List. Proposed Rule Change, as Modified by 5 See Securities Exchange Act Release No. 78432, Amendments No. 1 and 2 Thereto, 81 FR 51248 (August 3, 2016). The Commission DATES: Effective date: December 21, Relating to Amendments to NYSE MKT designated September 9, 2016, as the date by which 2016. Rules 1600 et seq. and the Listing the Commission would either approve or disapprove, or institute proceedings to determine Rules Applicable to the Shares of the whether to disapprove, the proposed rule change. FOR FURTHER INFORMATION CONTACT: Nuveen Diversified Commodity Fund 6 Amendment No. 1 is available at https:// Elizabeth A. Reed, 202–268–3179. and the Nuveen Long/Short www.sec.gov/comments/sr-nysemkt-2016-58/ SUPPLEMENTARY INFORMATION: The Commodity Total Return Fund nysemkt201658-2.pdf. 7 15 U.S.C. 78s(b)(2)(B). United States Postal Service® hereby December 15, 2016. 8 See Securities Exchange Act Release No. 78804 gives notice that, pursuant to 39 U.S.C. On May 24, 2016, NYSE MKT LLC (September 9, 2016), 81 FR 63543 (September 15, 3642 and 3632(b)(3), on December 14, (‘‘Exchange’’) filed with the Securities 2016). 9 Amendment No. 2 is available at https:// 2016, it filed with the Postal Regulatory and Exchange Commission www.sec.gov/comments/sr-nysemkt-2016-58/ Commission a Request of the United (‘‘Commission’’), pursuant to Section nysemkt201658-4.pdf. States Postal Service to Add Priority 19(b)(1) of the Securities Exchange Act 10 15 U.S.C. 78s(b)(2). Mail Contract 274 to Competitive of 1934 (‘‘Act’’) 1 and Rule 19b–4 11 See Securities Exchange Act Release No. 79510 Product List. Documents are available at (December 8, 2016), 81 FR 90402 (December 14, asabaliauskas on DSK3SPTVN1PROD with NOTICES thereunder,2 a proposed rule change to 2016). www.prc.gov, Docket Nos. MC2017–51, among other things, amend NYSE MKT 12 See letter dated July 4, 2016, to Division of CP2017–77. Rules 1600 et seq. and to amend the Trading and Markets, Commission (‘‘Anonymous listing rules applicable to the shares of Letter’’); and letter from Michael Szkodzinski, Stanley F. Mires, Associate General Counsel, Weiss Asset the Nuveen Diversified Commodity Attorney, Federal Compliance. Management LP, to Brent J. Fields, Secretary, Fund and the Nuveen Long/Short Commission, dated October 6, 2016. The comments [FR Doc. 2016–30683 Filed 12–20–16; 8:45 am] regarding the proposed rule change are available at: 1 15 U.S.C. 78s(b)(1). BILLING CODE 7710–12–P https://www.sec.gov/comments/sr-nysemkt-2016- 2 17 CFR 240.19b–4. 58/nysemkt201658.shtml. 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93716 Federal Register / Vol. 81, No. 245 / Wednesday, December 21, 2016 / Notices For the Commission, by the Division of The Exchange has prepared summaries, the cabinet book, opening cabinet bids Trading and Markets, pursuant to delegated set forth in sections A, B, and C below, can trade with opening cabinet offers at authority.13 of the most significant parts of such $1 per option contract. Eduardo A. Aleman, statements. The Exchange has temporarily Assistant Secretary. amended the procedures through A. Self-Regulatory Organization’s [FR Doc. 2016–30694 Filed 12–20–16; 8:45 am] January 5, 2017 to allow transactions to Statement of the Purpose of, and the BILLING CODE 8011–01–P Statutory Basis for, the Proposed Rule take place in open outcry at a price of Change at least $0 but less than $1 per option contract. These lower-priced SECURITIES AND EXCHANGE 1. Purpose transactions are permitted to be traded COMMISSION The purpose of this filing is to extend pursuant to the same procedures [Release No. 34–79564; File No. SR– the Pilot Program 4 under Rule 968NY to applicable to $1 cabinet trades, except NYSEMKT–2016–116] allow accommodation transactions that (i) bids and offers for opening (‘‘Cabinet Trades’’) to take place at a transactions are only permitted to Self-Regulatory Organizations; NYSE price that is below $1 per option accommodate closing transactions in MKT LLC; Notice of Filing and contract for one additional year [sic]. order to limit use of the procedure to Immediate Effectiveness of Proposed The Exchange proposes to extend the liquidations of existing positions, and Rule Change Extending Its Program program, which is due to expire on (ii) the procedures are also made That Allows Transactions to Take January 5, 2017, until July 5, 2017. The available for trading in option classes Place at a Price That Is Below $1 Per proposed extension of the Pilot Program participating in the Penny Pilot Option Contract Until July 5, 2017 will provide the Exchange additional Program.5 The Exchange believes that time to submit a separate proposed rule allowing a price of at least $0 but less December 15, 2016. change under Section 19(b)(2) of the than $1 better accommodates the closing Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the of options positions in series that are Securities Exchange Act of 1934 (the ‘‘Act’’) to make the program permanent worthless or not actively traded, ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 (‘‘Permanent Filing’’). In support of particularly in the event where there has notice is hereby given that on December making the Pilot Program permanent, been a significant move in the price of 7, 2016, NYSE MKT LLC (the the Exchange represents that, in the the underlying security that results in a ‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with Permanent Filing, it would provide large number of series being out-of-the- the Securities and Exchange statistics related to Cabinet Trades that money. For example, a market Commission (the ‘‘Commission’’) the were executed in calendar year 2016 participant might have a long position proposed rule change as described in and describe the manner in which in a put series with a strike price of $30 Items I, II, and III below, which Items Cabinet Trades are cleared and and the underlying stock might be have been prepared by the self- processed. trading at $100. In such an instance, regulatory organization. The An ‘‘accommodation’’ or ‘‘cabinet’’ there might not otherwise be a market Commission is publishing this notice to trade refers to trades in listed options on for that person to close-out the position solicit comments on the proposed rule the Exchange that are worthless and even at the $1 cabinet price (e.g., the change from interested persons. typically not actively traded. Cabinet series might be quoted no bid). I. Self-Regulatory Organization’s trading is generally conducted in accordance with Exchange Rules, except As with other accommodation Statement of the Terms of Substance of liquidations under Rule 968NY, the Proposed Rule Change as provided in Exchange Rule 968NY, Accommodation Transactions (Cabinet transactions that occur for less than $1 The Exchange proposes to extend its Trades), which sets forth specific will not be disseminated to the public program that allows transactions to take procedures for engaging in cabinet on the consolidated tape. In addition, as place at a price that is below $1 per trades. Rule 968NY currently provides with other accommodation liquidations option contract until July 5, 2017. The for cabinet transactions to occur via under Rule 968NY, the transactions will proposed rule change is available on the open outcry at a cabinet price of a $1 be exempt from the Consolidated Exchange’s Web site at www.nyse.com, per option contract in any options series Options Audit Trail (‘‘COATS’’) at the principal office of the Exchange, open for trading on the Exchange, requirements of Exchange Rule 955NY, and at the Commission’s Public except that the Rule is not applicable to Order Format and System Entry Reference Room. trading in option classes participating in Requirements. However, the Exchange the Penny Pilot Program. Under the will maintain quotation, order and II. Self-Regulatory Organization’s transaction information for the Statement of the Purpose of, and procedures, bids and offers (whether opening or closing a position) at a price transactions in the same format as the Statutory Basis for, the Proposed Rule COATS data is maintained. In this Change of $1 per option contract may be represented in the trading crowd by a regard, all transactions for less than $1 In its filing with the Commission, the Floor Broker or by a Market Maker or must be reported to the Exchange self-regulatory organization included provided in response to a request by a statements concerning the purpose of, Trading Official, a Floor Broker or a 5 Currently, the $1 cabinet trading procedures are and basis for, the proposed rule change Market Maker, but must yield priority to limited to options classes traded in $0.05 or $0.10 asabaliauskas on DSK3SPTVN1PROD with NOTICES standard increment. The $1 cabinet trading and discussed any comments it received all resting orders in the Cabinet (those procedures are not available in Penny Pilot Program on the proposed rule change. The text orders held by the Trading Official, and classes because in those classes an option series can of those statements may be examined at which resting cabinet orders may be trade in a standard increment as low as $0.01 per the places specified in Item IV below. closing only). Provided that the buyer share (or $1.00 per option contract with a 100 share multiplier). Because the temporary procedures and the seller yield to orders resting in allow trading below $0.01 per share (or $1.00 per 13 17 CFR 200.30–3(a)(12). option contract with a 100 share multiplier), the 1 15 U.S.C.78s(b)(1). 4 See Securities Exchange Act Release No. 63475 procedures are available for all classes, including 2 15 U.S.C. 78a. (December 8, 2010), 75 FR 77932 (December 14, those classes participating in the Penny Pilot 3 17 CFR 240.19b–4. 2010) (SR–NYSE Amex–2010–114). Program. VerDate Sep<11>2014 18:38 Dec 20, 2016 Jkt 241001 PO 00000 Frm 00062 Fmt 4703 Sfmt 4703 E:\FR\FM\21DEN1.SGM 21DEN1


Document Created: 2018-02-14 09:11:36
Document Modified: 2018-02-14 09:11:36
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 93715 
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