82_FR_37408 82 FR 37256 - Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish the Effective Date of the Settlement Cycle Rule Changes

82 FR 37256 - Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish the Effective Date of the Settlement Cycle Rule Changes

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 152 (August 9, 2017)

Page Range37256-37257
FR Document2017-16740

Federal Register, Volume 82 Issue 152 (Wednesday, August 9, 2017)
[Federal Register Volume 82, Number 152 (Wednesday, August 9, 2017)]
[Notices]
[Pages 37256-37257]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-16740]



[[Page 37256]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81306; File No. SR-NSCC-2017-014]


Self-Regulatory Organizations; National Securities Clearing 
Corporation; Notice of Filing and Immediate Effectiveness of Proposed 
Rule Change To Establish the Effective Date of the Settlement Cycle 
Rule Changes

August 3, 2017.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that 
on July 31, 2017, National Securities Clearing Corporation (``NSCC'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change as described in Items I, II and III below, which 
Items have been prepared by the clearing agency. NSCC filed the 
proposed rule change pursuant to Section 19(b)(3)(A) of the Act \3\ and 
Rule 19b-4(f)(4) thereunder.\4\ The Commission is publishing this 
notice to solicit comments on the proposed rule change from interested 
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(4).
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I. Clearing Agency's Statement of the Terms of Substance of the 
Proposed Rule Change

    NSCC is filing this proposed rule change to (i) establish September 
5, 2017 as the effective date (``Effective Date'') of the settlement 
cycle rule changes (``T2 Changes'') submitted pursuant to rule filing 
SR-NSCC-2016-007 (``Prior Rule Filing''),\5\ (ii) incorporate the T2 
Changes into NSCC's Rules & Procedures (``Rules'') \6\ as of the 
Effective Date, and (iii) amend the legend (``Legend'') on the cover 
page of the Rules in order to include the Effective Date and self-
eliminating language for the Legend, and remove the Legend's current 
reference to NSCC making a subsequent rule filing with the Commission 
as this proposal is that subsequent rule filing.
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    \5\ See Securities Exchange Act Release No. 79356 (November 18, 
2016), 81 FR 85299 (November 25, 2016) (SR-NSCC-2016-007).
    \6\ Capitalized terms not defined herein are defined in the 
Rules, available at http://www.dtcc.com/~/media/Files/Downloads/
legal/rules/nscc_rules.pdf.
---------------------------------------------------------------------------

II. Clearing Agency's Statement of the Purpose of, and Statutory Basis 
for, the Proposed Rule Change

    In its filing with the Commission, the clearing agency included 
statements concerning the purpose of and basis for the proposed rule 
change and discussed any comments it received on the proposed rule 
change. The text of these statements may be examined at the places 
specified in Item IV below. The clearing agency has prepared summaries, 
set forth in sections A, B, and C below, of the most significant 
aspects of such statements.

(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis 
for, the Proposed Rule Change

1. Purpose
    On January 4, 2017, the Commission issued an order approving the 
Prior Rule Filing,\7\ which was filed by NSCC pursuant to Section 
19(b)(2) of the Act.\8\
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    \7\ See Securities Exchange Act Release No. 79734 (January 4, 
2017), 82 FR 3030 (January 10, 2017) (SR-NSCC-2016-007).
    \8\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The purpose of the Prior Rule Filing was to amend the Rules to 
ensure that the Rules are consistent with the anticipated industry-wide 
move to a shorter standard settlement cycle from the third business day 
after the trade date (``T+3'') to the second business day after the 
trade date (``T+2''). Although approved by the Commission, the Prior 
Rule Filing stated that the T2 Changes would not become effective and 
would not be implemented until an effective date is established by a 
subsequent proposed rule change to be submitted by NSCC under Rule 19b-
4 of the Act.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

    NSCC is filing this proposed rule change to (i) establish the 
Effective Date for the T2 Changes, which is also the compliance date 
for the Commission's amendment to Rule 15c6-1(a) under the Act,\10\ 
(ii) incorporate the T2 Changes into the Rules as of the Effective 
Date, and (iii) amend the Legend on the cover page of the Rules in 
order to include the Effective Date and self-eliminating language for 
the Legend, and remove the Legend's current reference to NSCC making a 
subsequent rule filing with the Commission as this proposal is that 
subsequent rule filing.
---------------------------------------------------------------------------

    \10\ The Commission adopted an amendment to the Settlement Cycle 
Rule (Rule 15c6-1(a)) under the Act to shorten the standard 
settlement cycle for most broker-dealer transactions from T+3 to 
T+2. See Amendment to Securities Transaction Settlement Cycle, 
Exchange Act Release No. 80295 (March 22, 2017), 82 FR 15564 (March 
29, 2017).
---------------------------------------------------------------------------

2. Statutory Basis
    Section 17A(b)(3)(F) of the Act requires, in part, that the Rules 
be designed to promote the prompt and accurate clearance and settlement 
of securities transactions.\11\ The proposed rule change would 
establish the Effective Date for the T2 Changes and provide NSCC 
members (``Members'') with an understanding of when the T2 Changes will 
begin to affect them. Knowing when the T2 Changes will begin to affect 
Members would enable them to timely fulfill their obligations to NSCC, 
which would in turn ensure that securities transactions would be 
promptly and accurately cleared and settled within the industry 
standard settlement cycle and, by extension, facilitate the prompt and 
accurate clearance and settlement of securities transactions submitted 
to NSCC for clearing and settlement. Therefore, NSCC believes that the 
proposed rule change would promote the prompt and accurate clearance 
and settlement of securities transactions, consistent with Section 
17A(b)(3)(F) of the Act cited above.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------

(B) Clearing Agency's Statement on Burden on Competition

    NSCC does not believe that the proposed rule change to (i) 
establish the Effective Date for the T2 Changes, (ii) incorporate the 
T2 Changes into the Rules as of the Effective Date, and (iii) amend the 
Legend on the cover page of the Rules in order to include the Effective 
Date and self-eliminating language for the Legend, and remove the 
Legend's current reference to NSCC making a subsequent rule filing with 
the Commission would have any impact, or impose any burden, on 
competition because the proposed rule change is intended to provide 
additional clarity in the Rules regarding when the T2 Changes would 
become effective for Members. As such, the proposed rule change would 
not impact a particular category of Members nor would it impact 
particular types of Members' businesses.

(C) Clearing Agency's Statement on Comments on the Proposed Rule Change 
Received From Members, Participants, or Others

    NSCC has not received or solicited any written comments relating to 
this proposal. NSCC will notify the Commission of any written comments 
received by NSCC.

III. Date of Effectiveness of the Proposed Rule Change, and Timing for 
Commission Action

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A) of the Act \12\ and paragraph (f) of Rule 19b-4 
thereunder.\13\ At any time within 60 days of the filing of the 
proposed rule

[[Page 37257]]

change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78s(b)(3)(A).
    \13\ 17 CFR 240.19b-4(f).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-NSCC-2017-014 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-NSCC-2017-014. This file 
number should be included on the subject line if email is used. To help 
the Commission process and review your comments more efficiently, 
please use only one method. The Commission will post all comments on 
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all 
written statements with respect to the proposed rule change that are 
filed with the Commission, and all written communications relating to 
the proposed rule change between the Commission and any person, other 
than those that may be withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be available for Web site viewing and 
printing in the Commission's Public Reference Room, 100 F Street NE., 
Washington, DC 20549-1090 on official business days between the hours 
of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available 
for inspection and copying at the principal office of NSCC and on 
DTCC's Web site (http://dtcc.com/legal/sec-rule-filings.aspx). All 
comments received will be posted without change; the Commission does 
not edit personal identifying information from submissions. You should 
submit only information that you wish to make available publicly.
    All submissions should refer to File Number SR-NSCC-2017-014 and 
should be submitted on or before August 30, 2017.


    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\14\
Eduardo A. Aleman,
Assistant Secretary.
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    \14\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2017-16740 Filed 8-8-17; 8:45 am]
 BILLING CODE 8011-01-P



                                                37256                      Federal Register / Vol. 82, No. 152 / Wednesday, August 9, 2017 / Notices

                                                SECURITIES AND EXCHANGE                                 concerning the purpose of and basis for               Effective Date for the T2 Changes and
                                                COMMISSION                                              the proposed rule change and discussed                provide NSCC members (‘‘Members’’)
                                                                                                        any comments it received on the                       with an understanding of when the T2
                                                [Release No. 34–81306; File No. SR–NSCC–
                                                                                                        proposed rule change. The text of these               Changes will begin to affect them.
                                                2017–014]
                                                                                                        statements may be examined at the                     Knowing when the T2 Changes will
                                                Self-Regulatory Organizations;                          places specified in Item IV below. The                begin to affect Members would enable
                                                National Securities Clearing                            clearing agency has prepared                          them to timely fulfill their obligations to
                                                Corporation; Notice of Filing and                       summaries, set forth in sections A, B,                NSCC, which would in turn ensure that
                                                Immediate Effectiveness of Proposed                     and C below, of the most significant                  securities transactions would be
                                                Rule Change To Establish the Effective                  aspects of such statements.                           promptly and accurately cleared and
                                                Date of the Settlement Cycle Rule                       (A) Clearing Agency’s Statement of the                settled within the industry standard
                                                Changes                                                 Purpose of, and Statutory Basis for, the              settlement cycle and, by extension,
                                                                                                        Proposed Rule Change                                  facilitate the prompt and accurate
                                                August 3, 2017.                                                                                               clearance and settlement of securities
                                                   Pursuant to Section 19(b)(1) of the                  1. Purpose                                            transactions submitted to NSCC for
                                                Securities Exchange Act of 1934                            On January 4, 2017, the Commission                 clearing and settlement. Therefore,
                                                (‘‘Act’’) 1 and Rule 19b–4 thereunder,2                 issued an order approving the Prior Rule              NSCC believes that the proposed rule
                                                notice is hereby given that on July 31,                 Filing,7 which was filed by NSCC                      change would promote the prompt and
                                                2017, National Securities Clearing                      pursuant to Section 19(b)(2) of the Act.8             accurate clearance and settlement of
                                                Corporation (‘‘NSCC’’) filed with the                      The purpose of the Prior Rule Filing               securities transactions, consistent with
                                                Securities and Exchange Commission                      was to amend the Rules to ensure that                 Section 17A(b)(3)(F) of the Act cited
                                                (‘‘Commission’’) the proposed rule                      the Rules are consistent with the                     above.
                                                change as described in Items I, II and III              anticipated industry-wide move to a
                                                below, which Items have been prepared                                                                         (B) Clearing Agency’s Statement on
                                                                                                        shorter standard settlement cycle from                Burden on Competition
                                                by the clearing agency. NSCC filed the                  the third business day after the trade
                                                proposed rule change pursuant to                        date (‘‘T+3’’) to the second business day               NSCC does not believe that the
                                                Section 19(b)(3)(A) of the Act 3 and Rule               after the trade date (‘‘T+2’’). Although              proposed rule change to (i) establish the
                                                19b–4(f)(4) thereunder.4 The                            approved by the Commission, the Prior                 Effective Date for the T2 Changes, (ii)
                                                Commission is publishing this notice to                 Rule Filing stated that the T2 Changes                incorporate the T2 Changes into the
                                                solicit comments on the proposed rule                   would not become effective and would                  Rules as of the Effective Date, and (iii)
                                                change from interested persons.                         not be implemented until an effective                 amend the Legend on the cover page of
                                                                                                        date is established by a subsequent                   the Rules in order to include the
                                                I. Clearing Agency’s Statement of the                                                                         Effective Date and self-eliminating
                                                Terms of Substance of the Proposed                      proposed rule change to be submitted by
                                                                                                        NSCC under Rule 19b–4 of the Act.9                    language for the Legend, and remove the
                                                Rule Change                                                                                                   Legend’s current reference to NSCC
                                                                                                           NSCC is filing this proposed rule
                                                   NSCC is filing this proposed rule                    change to (i) establish the Effective Date            making a subsequent rule filing with the
                                                change to (i) establish September 5,                    for the T2 Changes, which is also the                 Commission would have any impact, or
                                                2017 as the effective date (‘‘Effective                 compliance date for the Commission’s                  impose any burden, on competition
                                                Date’’) of the settlement cycle rule                    amendment to Rule 15c6–1(a) under the                 because the proposed rule change is
                                                changes (‘‘T2 Changes’’) submitted                      Act,10 (ii) incorporate the T2 Changes                intended to provide additional clarity in
                                                pursuant to rule filing SR–NSCC–2016–                   into the Rules as of the Effective Date,              the Rules regarding when the T2
                                                007 (‘‘Prior Rule Filing’’),5 (ii)                      and (iii) amend the Legend on the cover               Changes would become effective for
                                                incorporate the T2 Changes into NSCC’s                  page of the Rules in order to include the             Members. As such, the proposed rule
                                                Rules & Procedures (‘‘Rules’’) 6 as of the              Effective Date and self-eliminating                   change would not impact a particular
                                                Effective Date, and (iii) amend the                     language for the Legend, and remove the               category of Members nor would it
                                                legend (‘‘Legend’’) on the cover page of                Legend’s current reference to NSCC                    impact particular types of Members’
                                                the Rules in order to include the                       making a subsequent rule filing with the              businesses.
                                                Effective Date and self-eliminating                     Commission as this proposal is that
                                                                                                                                                              (C) Clearing Agency’s Statement on
                                                language for the Legend, and remove the                 subsequent rule filing.
                                                                                                                                                              Comments on the Proposed Rule
                                                Legend’s current reference to NSCC
                                                                                                        2. Statutory Basis                                    Change Received From Members,
                                                making a subsequent rule filing with the
                                                                                                           Section 17A(b)(3)(F) of the Act                    Participants, or Others
                                                Commission as this proposal is that
                                                subsequent rule filing.                                 requires, in part, that the Rules be                    NSCC has not received or solicited
                                                                                                        designed to promote the prompt and                    any written comments relating to this
                                                II. Clearing Agency’s Statement of the                  accurate clearance and settlement of                  proposal. NSCC will notify the
                                                Purpose of, and Statutory Basis for, the                securities transactions.11 The proposed               Commission of any written comments
                                                Proposed Rule Change                                    rule change would establish the                       received by NSCC.
                                                   In its filing with the Commission, the
                                                                                                           7 See Securities Exchange Act Release No. 79734    III. Date of Effectiveness of the
                                                clearing agency included statements
                                                                                                        (January 4, 2017), 82 FR 3030 (January 10, 2017)      Proposed Rule Change, and Timing for
                                                  1 15
                                                                                                        (SR–NSCC–2016–007).                                   Commission Action
                                                       U.S.C. 78s(b)(1).                                   8 15 U.S.C. 78s(b)(2).
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                                                  2 17 CFR 240.19b–4.                                      9 17 CFR 240.19b–4.                                   The foregoing rule change has become
                                                  3 15 U.S.C. 78s(b)(3)(A).
                                                                                                           10 The Commission adopted an amendment to the      effective pursuant to Section 19(b)(3)(A)
                                                  4 17 CFR 240.19b–4(f)(4).
                                                                                                        Settlement Cycle Rule (Rule 15c6–1(a)) under the      of the Act 12 and paragraph (f) of Rule
                                                  5 See Securities Exchange Act Release No. 79356
                                                                                                        Act to shorten the standard settlement cycle for      19b–4 thereunder.13 At any time within
                                                (November 18, 2016), 81 FR 85299 (November 25,          most broker-dealer transactions from T+3 to T+2.
                                                2016) (SR–NSCC–2016–007).                               See Amendment to Securities Transaction
                                                                                                                                                              60 days of the filing of the proposed rule
                                                  6 Capitalized terms not defined herein are defined    Settlement Cycle, Exchange Act Release No. 80295
                                                                                                        (March 22, 2017), 82 FR 15564 (March 29, 2017).         12 15   U.S.C. 78s(b)(3)(A).
                                                in the Rules, available at http://www.dtcc.com/∼/
                                                media/Files/Downloads/legal/rules/nscc_rules.pdf.          11 15 U.S.C. 78q–1(b)(3)(F).                         13 17   CFR 240.19b–4(f).



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                                                                           Federal Register / Vol. 82, No. 152 / Wednesday, August 9, 2017 / Notices                                                     37257

                                                change, the Commission summarily may                      All submissions should refer to File                II. Self-Regulatory Organization’s
                                                temporarily suspend such rule change if                 Number SR–NSCC–2017–014 and                           Statement of the Purpose of, and
                                                it appears to the Commission that such                  should be submitted on or before                      Statutory Basis for, the Proposed Rule
                                                action is necessary or appropriate in the               August 30, 2017.                                      Change
                                                public interest, for the protection of                                                                           In its filing with the Commission, the
                                                investors, or otherwise in furtherance of                                                                     self-regulatory organization included
                                                                                                          For the Commission, by the Division of
                                                the purposes of the Act.                                                                                      statements concerning the purpose of,
                                                                                                        Trading and Markets, pursuant to delegated
                                                IV. Solicitation of Comments                            authority.14                                          and basis for, the proposed rule change
                                                                                                        Eduardo A. Aleman,                                    and discussed any comments it received
                                                  Interested persons are invited to                                                                           on the proposed rule change. The text
                                                submit written data, views and                          Assistant Secretary.
                                                                                                                                                              of those statements may be examined at
                                                arguments concerning the foregoing,                     [FR Doc. 2017–16740 Filed 8–8–17; 8:45 am]
                                                                                                                                                              the places specified in Item IV below.
                                                including whether the proposed rule                     BILLING CODE 8011–01–P                                The Exchange has prepared summaries,
                                                change is consistent with the Act.                                                                            set forth in sections A, B, and C below,
                                                Comments may be submitted by any of                                                                           of the most significant parts of such
                                                the following methods:                                  SECURITIES AND EXCHANGE                               statements.
                                                Electronic Comments                                     COMMISSION
                                                                                                                                                              A. Self-Regulatory Organization’s
                                                  • Use the Commission’s Internet                       [Release No. 34–81310; File No. SR–NYSE–
                                                                                                                                                              Statement of the Purpose of, and the
                                                comment form (http://www.sec.gov/                       2017–36]                                              Statutory Basis for, the Proposed Rule
                                                rules/sro.shtml); or                                                                                          Change
                                                  • Send an email to rule-comments@                     Self-Regulatory Organizations; New                    1. Purpose
                                                sec.gov. Please include File Number SR–                 York Stock Exchange LLC; Notice of
                                                NSCC–2017–014 on the subject line.                                                                               On January 29, 2015, the Exchange
                                                                                                        Filing of Proposed Rule Change for
                                                                                                                                                              announced the implementation of Pillar,
                                                Paper Comments                                          Trading UTP Securities on Pillar, the
                                                                                                                                                              which is an integrated trading
                                                                                                        Exchange’s New Trading Technology
                                                   • Send paper comments in triplicate                  Platform, Including Orders and
                                                                                                                                                              technology platform designed to use a
                                                to Secretary, Securities and Exchange                                                                         single specification for connecting to the
                                                                                                        Modifiers, Order Ranking and Display,                 equities and options markets operated
                                                Commission, 100 F Street NE.,
                                                                                                        and Order Execution and Routing                       by the Exchange and its affiliates, NYSE
                                                Washington, DC 20549–1090.
                                                                                                        August 3, 2017                                        Arca, Inc. (‘‘NYSE Arca’’) and NYSE
                                                All submissions should refer to File
                                                                                                                                                              MKT LLC (‘‘NYSE MKT’’).4 NYSE Arca
                                                Number SR–NSCC–2017–014. This file                         Pursuant to Section 19(b)(1) 1 of the              Equities, Inc. (‘‘NYSE Arca Equities
                                                number should be included on the                        Securities Exchange Act of 1934 (the                  [sic]),5 which operates the cash equities
                                                subject line if email is used. To help the              ‘‘Act’’) 2 and Rule 19b–4 thereunder,3                trading platform for NYSE Arca, was the
                                                Commission process and review your                      notice is hereby given that, on July 28,              first trading system to migrate to Pillar.6
                                                comments more efficiently, please use
                                                                                                        2017, New York Stock Exchange LLC
                                                only one method. The Commission will
                                                                                                        (‘‘NYSE’’ or the ‘‘Exchange’’) filed with                4 See Trader Update dated January 29, 2015,
                                                post all comments on the Commission’s                                                                         available here: www.nyse.com/pillar.
                                                Internet Web site (http://www.sec.gov/                  the Securities and Exchange                              5 NYSE Arca Equities is a wholly-owned

                                                rules/sro.shtml). Copies of the                         Commission (the ‘‘Commission’’) the                   corporation of NYSE Arca and operates as a facility
                                                submission, all subsequent                              proposed rule change as described in                  of NYSE Arca. NYSE Arca has filed a proposed rule
                                                                                                        Items I, II, and III below, which Items               change to merge NYSE Arca Equities with and into
                                                amendments, all written statements                                                                            NYSE Arca. See Securities Exchange Act Release
                                                with respect to the proposed rule                       have been prepared by the self-                       No. 80929 (June 14, 2017), 82 FR 28157 (June 20,
                                                change that are filed with the                          regulatory organization. The                          2017) (Notice) (‘‘NYSE Arca Merger Filing’’). As
                                                Commission, and all written                             Commission is publishing this notice to               part of the NYSE Arca Merger Filing, NYSE Arca
                                                                                                        solicit comments on the proposed rule                 has proposed that the NYSE Arca Equities rules will
                                                communications relating to the                                                                                be integrated in the NYSE Arca rule book using the
                                                proposed rule change between the                        change from interested persons.                       same rule number, but with an additional suffix of
                                                Commission and any person, other than                                                                         ‘‘-E’’ added to a rule. For example, ‘‘NYSE Arca
                                                                                                        I. Self-Regulatory Organization’s                     Equities Rule 7 (Equities Trading)’’ will become
                                                those that may be withheld from the
                                                                                                        Statement of the Terms of Substance of                ‘‘NYSE Arca Rule 7–E (Equities Trading),’’ and
                                                public in accordance with the                                                                                 ‘‘NYSE Arca Equities Rule 7.31’’ will become
                                                                                                        the Proposed Rule Change
                                                provisions of 5 U.S.C. 552, will be                                                                           ‘‘NYSE Arca Rule 7.31–E.’’ Accordingly, if the
                                                available for Web site viewing and                         The Exchange proposes rules for                    NYSE Arca Merger Filing is approved, all references
                                                printing in the Commission’s Public                                                                           in this proposed rule change to an NYSE Arca
                                                                                                        trading UTP Securities on Pillar, the                 Equities rule should be deemed to be a reference to
                                                Reference Room, 100 F Street NE.,                       Exchange’s new trading technology                     an NYSE Arca rule with the same number and
                                                Washington, DC 20549–1090 on official                   platform, including rules governing                   added ‘‘-E’’ suffix.
                                                business days between the hours of                      orders and modifiers, order ranking and
                                                                                                                                                                 6 In connection with the NYSE Arca

                                                10:00 a.m. and 3:00 p.m. Copies of the                                                                        implementation of Pillar, NYSE Arca filed four rule
                                                                                                        display, and order execution and                      proposals relating to Pillar. See Securities Exchange
                                                filing also will be available for
                                                                                                        routing. The proposed rule change is                  Act Release Nos. 74951 (May 13, 2015), 80 FR
                                                inspection and copying at the principal                                                                       28721 (May 19, 2015) (Notice) and 75494 (July 20,
                                                                                                        available on the Exchange’s Web site at
                                                office of NSCC and on DTCC’s Web site                                                                         2015), 80 FR 44170 (July 24, 2015) (SR–NYSEArca–
                                                (http://dtcc.com/legal/sec-rule-                        www.nyse.com, at the principal office of              2015–38) (Approval Order of NYSE Arca Pillar I
sradovich on DSK3GMQ082PROD with NOTICES




                                                filings.aspx). All comments received                    the Exchange, and at the Commission’s                 Filing, adopting rules for Trading Sessions, Order
                                                                                                        Public Reference Room.                                Ranking and Display, and Order Execution);
                                                will be posted without change; the                                                                            Securities Exchange Act Release Nos. 75497 (July
                                                Commission does not edit personal                                                                             21, 2015), 80 FR 45022 (July 28, 2015) (Notice) and
                                                identifying information from                              14 17 CFR 200.30–3(a)(12).                          76267 (October 26, 2015), 80 FR 66951 (October 30,
                                                                                                                                                              2015) (SR–NYSEArca–2015–56) (Approval Order of
                                                submissions. You should submit only                       1 15 U.S.C.78s(b)(1).
                                                                                                                                                              NYSE Arca Pillar II Filing, adopting rules for Orders
                                                information that you wish to make                         2 15 U.S.C. 78a.
                                                                                                                                                              and Modifiers and the Retail Liquidity Program);
                                                available publicly.                                       3 17 CFR 240.19b–4.                                                                            Continued




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Document Created: 2017-08-09 02:18:28
Document Modified: 2017-08-09 02:18:28
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 Citation82 FR 37256 

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