82 FR 39641 - Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 21.2, Days and Hours of Business

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 160 (August 21, 2017)

Page Range		39641-39643
FR Document		2017-17551
Federal Register, Volume 82 Issue 160 (Monday, August 21, 2017)
[Federal Register Volume 82, Number 160 (Monday, August 21, 2017)]
[Notices]
[Pages 39641-39643]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-17551]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81404; File No. SR-BatsBZX-2017-52]


Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of 
Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 
21.2, Days and Hours of Business

August 15, 2017.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on August 2, 2017, Bats BZX Exchange, Inc. (the ``Exchange'' or 
``BZX'') filed with the Securities and Exchange Commission (the 
``Commission'') the proposed rule change as described in Items I and II 
below, which Items have been prepared by the Exchange. The Exchange has 
designated this proposal as a ``non-controversial'' proposed rule 
change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-
4(f)(6)(iii) thereunder,\4\ which renders it effective upon filing with 
the Commission. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \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)(6)(iii).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange filed a proposal to amend Rule 21.2, Days and Hours of 
Business.
    The text of the proposed rule change is available at the Exchange's 
Web site at www.bats.com, at the principal office of the Exchange, and 
at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange 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 Exchange has prepared summaries, set forth in 
Sections A, B, and C below, of the most significant parts of such 
statements.

[[Page 39642]]

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of this filing is to amend Rule 21.2 to clarify the 
trading hours for options on fund shares (``ETF's'') and exchange-
traded notes (``ETNs''). Specifically, the Exchange seeks to amend Rule 
21.2 to provide that options on ETF's and ETNs (collectively exchange-
traded products or ``ETPs'') may be traded on the Exchange until 3:15 
p.m. (CT) each business day. The Exchange notes that the proposed rule 
is based on C2 Options Exchange, Incorporated (``C2'') Rule 6.1 and 
NYSE MKT LLC (``NYSE MKT'') Rule 901NY Commentary .02.
    Currently, Rule 21.2 provides that all options on ETPs will be 
traded on the Exchange until 3:15 p.m. (CT); however, industry practice 
and the Exchange's current practice allow the vast majority of options 
on ETPs to be traded until 3:00 p.m. (CT), while allowing certain 
options on ETPs to trade until 3:15 p.m. (CT).\5\ This filing seeks to 
align BZX Rules with industry practice.
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    \5\ See e.g., the trading hours of options on NYSE MKT and NYSE 
Arca Inc., available at, https://www.nyse.com/markets/hours-calendars.
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2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
the Securities Exchange Act of 1934 (the ``Act'') and the rules and 
regulations thereunder applicable to the Exchange and, in particular, 
the requirements of Section 6(b) of the Act. Specifically, the Exchange 
believes the proposed rule change is consistent with the Section 
6(b)(5) requirements that the rules of an exchange be designed to 
prevent fraudulent and manipulative acts and practices, to promote just 
and equitable principles of trade, to foster cooperation and 
coordination with persons engaged in regulating, clearing, settling, 
processing information with respect to, and facilitating transactions 
in securities, to remove impediments to and perfect the mechanism of a 
free and open market and a national market system, and, in general, to 
protect investors and the public interest. Additionally, the Exchange 
believes the proposed rule change is consistent with the Section 
6(b)(5) requirement that the rules of an exchange not be designed to 
permit unfair discrimination between customers, issuers, brokers, or 
dealers.
    In particular, the proposed rule change will protect investors and 
the public interest by reducing potential confusing regarding BZX's 
trading hours for options on ETPs and aligning BZX's Rules regarding 
trading orders for options on ETPs with industry practice. The Exchange 
notes that the proposed rule is based on C2 Rule 6.1 and NYSE MKT Rule 
901NY Commentary .02.

B. Self-Regulatory Organization's Statement on Burden on Competition

    BZX does not believe that the proposed rule change will impose any 
burden on competition that is not necessary or appropriate in 
furtherance of the purposes of the Act. The proposed rule change will 
not impose any burden on intermarket or intramarket competition as the 
proposed rule change will align BZX's Rules regarding trading orders 
for options on ETPs with industry practice. In addition, the proposed 
rule change does not modify the construct for trading hours but simply 
identifies the products that may close at 3:00 p.m. (CT) or 3:15 p.m. 
(CT), which is consistent with the industry.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    Written comments were neither solicited nor received.

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

    Because the foregoing proposed rule change does not: (A) 
Significantly affect the protection of investors or the public 
interest; (B) impose any significant burden on competition; and (C) by 
its terms, become operative for 30 days from the date on which it was 
filed or such shorter time as the Commission may designate, it has 
become effective pursuant to Section 19(b)(3)(A) of the Act \6\ and 
paragraph (f)(6) of Rule 19b-4 thereunder.\7\
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    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4. The Exchange has given the Commission 
written notice of its intent to file the proposed rule change, along 
with a brief description and text of the proposed rule change at 
least five business days prior to the date of filing of the proposed 
rule change, or such shorter time as designated by the Commission.
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    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is: (1) 
Necessary or appropriate in the public interest; (2) for the protection 
of investors; or (3) otherwise in furtherance of the purposes of the 
Act. If the Commission takes such action, the Commission shall 
institute proceedings to determine whether the proposed rule should be 
approved or disapproved.

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-BatsBZX-2017-52 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-BatsBZX-2017-52. 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, 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 the Exchange. 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-BatsBZX-2017-52 and should 
be submitted on or before September 11, 2017.
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    \8\ 17 CFR 200.30-3(a)(12).


[[Page 39643]]


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    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-17551 Filed 8-18-17; 8:45 am]
BILLING CODE 8011-01-P
Federal Register / Vol. 82, No. 160 / Monday, August 21, 2017 / Notices 39641

above, the Exchange does not believe Paper Comments SECURITIES AND EXCHANGE
that the proposed rule change will COMMISSION
impose any burden on competition not • Send paper comments in triplicate
necessary or appropriate in furtherance to Secretary, Securities and Exchange
[Release No. 34–81404; File No. SR–
of the purposes of the Act. Commission, 100 F Street NE.,
BatsBZX–2017–52]
Washington, DC 20549–1090.
C. Self-Regulatory Organization’s
Statement on Comments on the All submissions should refer to File Self-Regulatory Organizations; Bats
Proposed Rule Change Received From Number SR–Phlx–2017–68. This file BZX Exchange, Inc.; Notice of Filing
Members, Participants, or Others number should be included on the and Immediate Effectiveness of a
subject line if email is used. To help the Proposed Rule Change to Rule 21.2,
No written comments were either Commission process and review your Days and Hours of Business
solicited or received. comments more efficiently, please use August 15, 2017.
III. Date of Effectiveness of the only one method. The Commission will
Proposed Rule Change and Timing for post all comments on the Commission’s Pursuant to Section 19(b)(1) of the
Commission Action Internet Web site (http://www.sec.gov/ Securities Exchange Act of 1934 (the
rules/sro.shtml). Copies of the ‘‘Act’’),1 and Rule 19b–4 thereunder,2
Because the foregoing proposed rule submission, all subsequent notice is hereby given that on August 2,
change does not: (i) Significantly affect amendments, all written statements 2017, Bats BZX Exchange, Inc. (the
the protection of investors or the public with respect to the proposed rule ‘‘Exchange’’ or ‘‘BZX’’) filed with the
interest; (ii) impose any significant Securities and Exchange Commission
change that are filed with the
burden on competition; and (iii) become (the ‘‘Commission’’) the proposed rule
Commission, and all written
operative for 30 days from the date on change as described in Items I and II
communications relating to the
which it was filed, or such shorter time below, which Items have been prepared
proposed rule change between the by the Exchange. The Exchange has
as the Commission may designate, it has
become effective pursuant to Section Commission and any person, other than designated this proposal as a ‘‘non-
19(b)(3)(A)(iii) of the Act 13 and those that may be withheld from the controversial’’ proposed rule change
subparagraph (f)(6) of Rule 19b–4 public in accordance with the pursuant to Section 19(b)(3)(A) of the
thereunder.14 provisions of 5 U.S.C. 552, will be Act 3 and Rule 19b–4(f)(6)(iii)
available for Web site viewing and thereunder,4 which renders it effective
At any time within 60 days of the printing in the Commission’s Public
filing of the proposed rule change, the upon filing with the Commission. The
Reference Room, 100 F Street NE., Commission is publishing this notice to
Commission summarily may
Washington, DC 20549, on official solicit comments on the proposed rule
temporarily suspend such rule change if
it appears to the Commission that such business days between the hours of change from interested persons.
action is: (i) Necessary or appropriate in 10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for I. Self-Regulatory Organization’s
the public interest; (ii) for the protection Statement of the Terms of Substance of
of investors; or (iii) otherwise in inspection and copying at the principal
the Proposed Rule Change
furtherance of the purposes of the Act. office of the Exchange. All comments
If the Commission takes such action, the received will be posted without change; The Exchange filed a proposal to
Commission shall institute proceedings the Commission does not edit personal amend Rule 21.2, Days and Hours of
to determine whether the proposed rule identifying information from Business.
should be approved or disapproved. submissions. You should submit only The text of the proposed rule change
information that you wish to make is available at the Exchange’s Web site
IV. Solicitation of Comments
available publicly. All submissions at www.bats.com, at the principal office
Interested persons are invited to should refer to File Number SR–Phlx– of the Exchange, and at the
submit written data, views, and 2017–68 and should be submitted on or Commission’s Public Reference Room.
arguments concerning the foregoing, before September 11, 2017.
including whether the proposed rule II. Self-Regulatory Organization’s
For the Commission, by the Division of
change is consistent with the Act. Statement of the Purpose of, and
Trading and Markets, pursuant to delegated
Comments may be submitted by any of Statutory Basis for, the Proposed Rule
authority.15
the following methods: Change
Eduardo A. Aleman,
Electronic Comments Assistant Secretary. In its filing with the Commission, the
[FR Doc. 2017–17548 Filed 8–18–17; 8:45 am] Exchange included statements
• Use the Commission’s Internet concerning the purpose of and basis for
BILLING CODE 8011–01–P
comment form (http://www.sec.gov/ the proposed rule change and discussed
rules/sro.shtml); or any comments it received on the
• Send an email to rule-comments@ proposed rule change. The text of these
sec.gov. Please include File Number SR– statements may be examined at the
Phlx–2017–68 on the subject line. places specified in Item IV below. The
asabaliauskas on DSKBBXCHB2PROD with NOTICES

Exchange has prepared summaries, set
13 15 U.S.C. 78s(b)(3)(A)(iii). forth in Sections A, B, and C below, of
14 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– the most significant parts of such
4(f)(6) requires a self-regulatory organization to give statements.
the Commission written notice of its intent to file
the proposed rule change at least five business days 1 15
prior to the date of filing of the proposed rule U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
change, or such shorter time as designated by the
3 15 U.S.C. 78s(b)(3)(A).
Commission. The Exchange has satisfied this
requirement. 15 17 CFR 200.30–3(a)(12). 4 17 CFR 240.19b–4(f)(6)(iii).

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Federal Register / Vol. 82, No. 160 / Monday, August 21, 2017 / Notices 39643

For the Commission, by the Division of 2017. The Commission is extending this pursuant to the authority vested in me
Trading and Markets, pursuant to delegated 45-day time period. by the Act of October 19, 1965 (79 Stat.
authority.8 The Commission finds it appropriate 985; 22 U.S.C. 2459), E.O. 12047 of
Eduardo A. Aleman, to designate a longer period within March 27, 1978, the Foreign Affairs
Assistant Secretary. which to take action on the proposed Reform and Restructuring Act of 1998
[FR Doc. 2017–17551 Filed 8–18–17; 8:45 am] rule change so that it has sufficient time (112 Stat. 2681, et seq.; 22 U.S.C. 6501
BILLING CODE 8011–01–P to consider the proposed rule change, as note, et seq.), Delegation of Authority
modified by Amendment No. 1. No. 234 of October 1, 1999, Delegation
Accordingly, the Commission, pursuant of Authority No. 236–3 of August 28,
SECURITIES AND EXCHANGE to Section 19(b)(2) of the Act,6 2000 (and, as appropriate, Delegation of
COMMISSION designates October 5, 2017, as the date Authority No. 257–1 of December 11,
by which the Commission shall either 2015). I have ordered that Public Notice
[Release No. 34–81400; File No. SR– approve or disapprove, or institute of these Determinations be published in
NYSEArca–2017–56] proceedings to determine whether to the Federal Register.
disapprove, the proposed rule change, Alyson Grunder,
Self-Regulatory Organizations; NYSE as modified by Amendment No. 1 (File
Deputy Assistant Secretary for Policy, Bureau
Arca, Inc.; Notice of Designation of a No. SR–NYSEArca–2017–56). of Educational and Cultural Affairs,
Longer Period for Commission Action For the Commission, by the Division of Department of State.
on a Proposed Rule Change, as Trading and Markets, pursuant to delegated [FR Doc. 2017–17611 Filed 8–18–17; 8:45 am]
Modified by Amendment No. 1, To authority.7
BILLING CODE 4710–05–P
Facilitate the Listing and Trading of Eduardo A. Aleman,
Certain Series of Investment Company Assistant Secretary.
Units Listed Pursuant to NYSE Arca [FR Doc. 2017–17547 Filed 8–18–17; 8:45 am] DEPARTMENT OF STATE
Equities Rule 5.2(j)(3) BILLING CODE 8011–01–P
[Public Notice: 10090]
August 15, 2017.
On June 19, 2017, NYSE Arca, Inc. Notice of Determinations: Culturally
DEPARTMENT OF STATE Significant Objects Imported for
filed with the Securities and Exchange
Commission (‘‘Commission’’), pursuant [Public Notice: 10091] Exhibition Determinations: ‘‘Beyond
to Section 19(b)(1) of the Securities Impressionism—Paris, Fin-de-Siècle:
Exchange Act of 1934 (‘‘Act’’) 1 and Rule Notice of Determinations; Culturally The Art of Signac, Redon, Toulouse-
19b–4 thereunder,2 a proposed rule Significant Objects Imported for Lautrec and Their Contemporaries’’
change to facilitate the listing and Exhibition Determinations: ‘‘Maori Exhibition
trading of certain series of investment Portraits: Gottfried Lindauer’s New SUMMARY: Notice is hereby given of the
company units listed pursuant to NYSE Zealand’’ Exhibition following determinations: I hereby
Arca Equities Rule 5.2(j)(3). The SUMMARY: Notice is hereby given of the determine that certain objects to be
proposed rule change was published for following determinations: I hereby included in the exhibition ‘‘Beyond
comment in the Federal Register on July determine that certain objects to be Impressionism—Paris, Fin-de-Siècle:
7, 2017.3 On August 8, 2017, the included in the exhibition ‘‘Maori The Art of Signac, Redon, Toulouse-
Exchange filed Amendment No. 1 to the Portraits: Gottfried Lindauer’s New Lautrec and their Contemporaries,’’
proposed rule change.4 The Commission Zealand,’’ imported from abroad for imported from abroad for temporary
has received no comment letters on the temporary exhibition within the United exhibition within the United States, are
proposed rule change. States, are of cultural significance. The of cultural significance. The objects are
Section 19(b)(2) of the Act 5 provides objects are imported pursuant to loan imported pursuant to a loan agreement
that within 45 days of the publication of agreements with the foreign owners or with the foreign owner or custodian. I
notice of the filing of a proposed rule custodians. I also determine that the also determine that the exhibition or
change, or within such longer period up exhibition or display of the exhibit display of the exhibit objects at the
to 90 days as the Commission may objects at the Fine Arts Museums of San Columbus Museum of Art, Columbus,
designate if it finds such longer period Francisco, de Young Museum, San Ohio, from on or about October 20,
to be appropriate and publishes its Francisco, California, from on or about 2017, until on or about January 21,
reasons for so finding, or as to which the September 9, 2017, until on or about 2018, and at possible additional
self-regulatory organization consents, April 1, 2018, and at possible additional exhibitions or venues yet to be
the Commission shall either approve the exhibitions or venues yet to be determined, is in the national interest.
proposed rule change, disapprove the determined, is in the national interest. FOR FURTHER INFORMATION CONTACT: For
proposed rule change, or institute FOR FURTHER INFORMATION CONTACT: For further information, including a list of
proceedings to determine whether the further information, including a list of the imported objects, contact Elliot Chiu
proposed rule change should be the imported objects, contact Elliot Chiu in the Office of the Legal Adviser, U.S.
disapproved. The 45th day after in the Office of the Legal Adviser, U.S. Department of State (telephone: 202–
publication of the notice for this Department of State (telephone: 202– 632–6471; email: section2459@
proposed rule change is August 21, state.gov). The mailing address is U.S.
asabaliauskas on DSKBBXCHB2PROD with NOTICES

632–6471; email: section2459@
state.gov). The mailing address is U.S. Department of State, L/PD, SA–5, Suite
1 15 U.S.C.78s(b)(1). Department of State, L/PD, SA–5, Suite 5H03, Washington, DC 20522–0505.
2 17 CFR 240.19b–4. 5H03, Washington, DC 20522–0505. SUPPLEMENTARY INFORMATION: The
3 See Securities Exchange Act Release No. 81062
SUPPLEMENTARY INFORMATION: The foregoing determinations were made
(June 30, 2017), 82 FR 31651.
4 Amendment No. 1 is available at: https:// foregoing determinations were made pursuant to the authority vested in me
www.sec.gov/comments/sr-nysearca-2017-56/ by the Act of October 19, 1965 (79 Stat.
nysearca201756.htm. 6 Id. 985; 22 U.S.C. 2459), E.O. 12047 of
5 15 U.S.C. 78s(b)(2). 7 17 CFR 200.30–3(a)(31). March 27, 1978, the Foreign Affairs

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Document Created: 2017-08-19 00:44:55
Document Modified: 2017-08-19 00:44:55
Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		82 FR 39641