82 FR 46552 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Implementation Date for Certain Changes to the NYSE Arca Rule 5 and Rule 8 Series
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 192 (October 5, 2017)
Federal Register Volume 82, Issue 192 (October 5, 2017)
| Page Range | 46552-46554 | |
| FR Document | 2017-21410 |
[Federal Register Volume 82, Number 192 (Thursday, October 5, 2017)] [Notices] [Pages 46552-46554] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-21410] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-81775; File No. SR-NYSEArca-2017-115] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Implementation Date for Certain Changes to the NYSE Arca Rule 5 and Rule 8 Series September 29, 2017. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that, on September 28, 2017, NYSE Arca, Inc. (``Exchange'' or ``NYSE Arca'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. 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\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to extend the date on which certain changes to the NYSE Arca Rule 5 and Rule 8 series are implemented. The proposed rule change is available on the Exchange's Web site at www.nyse.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 self-regulatory organization 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 those 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 46553]] A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose On January 6, 2017, the Exchange filed a proposed rule change, as subsequently amended by Amendments No. 1 and 2 thereto (as amended, the ``Proposed Rule Change''), to adopt certain changes to the NYSE Arca Rules 5 and 8 series to add additional continued listing standards for exchange-traded funds (``ETFs'') as well as clarify the procedures that the Exchange will undertake when an ETF is noncompliant with applicable rules. Given the scope of the amendments specified in the Proposed Rule Change, the Exchange proposed that such amendments not be implemented until October 1, 2017. On March 9, 2017, the Commission granted accelerated approval of the Proposed Rule Change, including the October 1, 2017 implementation date.\4\ The Exchange now proposes to extend the implementation date of the amendments specified in the Proposed Rule Change to January 1, 2018. --------------------------------------------------------------------------- \4\ See Securities Exchange Act Release No. 80189 (March 9, 2017), 82 FR 13889 (March 15, 2017) (SR-NYSEArca-2017-01). --------------------------------------------------------------------------- Since the Proposed Rule Change was approved, the Exchange has engaged in extensive conversations with issuers of listed ETFs, industry advocacy groups and index providers to discuss the new rule requirements and offer guidance on rule interpretation and application. As a result of these conversations, ETF issuers have expressed concern about their ability to have in place systems and procedures to ensure compliance by the current October 1, 2017 implementation date. In particular, listed ETF issuers, and industry advocacy groups on their behalf, have explained that issuers require additional time to engage with listing exchanges to better understand how elements of the Proposed Rule Change will be interpreted and applied as well as to design and test new compliance systems. The Exchange has been engaged with its listed issuers and will continue to engage with them on topics of rule interpretation and application. In addition, issuers require time to engage in discussions with third-party providers to source and track new data elements required for rule compliance.\5\ Because indices are, in most cases, managed and maintained by third-party index providers, issuers need to ensure that they have procedures in place to obtain required index files on an ongoing basis so they can test such files for compliance with applicable continued listing rules. Further, issuers may need to contract with third party data providers to obtain necessary trading information about securities included in an index. The Exchange understands that issuers have been engaged in dialogue with index providers on these topics. Once all required information has been obtained, issuers have informed the Exchange that they require additional time to test their systems and procedures to ensure they are accurate and efficient. --------------------------------------------------------------------------- \5\ See, for example, Letter, dated July 11, 2017, from Dorothy Donohue, Acting General Counsel, Investment Company Institute to Brent J. Fields, Secretary, Securities and Exchange Commission, available at https://www.sec.gov/comments/sr-nasdaq-2016-135/nasdaq2016135-1846208-155175.pdf. --------------------------------------------------------------------------- The Exchange believes it is appropriate to extend the implementation date of the Proposed Rule Change to January 1, 2018 to provide listed ETF issuers with the time needed to finish developing and testing their compliance procedures. In support of its proposal, the Exchange notes that the Proposed Rule Change imposes significant new compliance requirements on issuers that they have not been subject to previously. To meet these new compliance requirements, issuers must develop internal systems as well as coordinate with third-party service providers, such as index providers, to develop procedures by which they can obtain essential data. Listed issuers have informed the Exchange that they are unable to complete this extensive project by the pending October 1, 2017 implementation date. The Exchange believes that it is critical for listed ETF issuers to have the appropriate procedures and systems in place to monitor and evidence ETF compliance with the new continued listing rules before such rules are implemented because failure to comply with Exchange rules could lead to delisting. Therefore, the Exchange proposes to extend the implementation date for the Proposed Rule Change until January 1, 2018. During the proposed extension period, the Exchange will communicate with issuers, as needed, with respect to any questions about interpretation and application of the Proposed Rule Change and in order to better understand the progress being made by issuers in completing the development of their compliance testing and procedures. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,\6\ in general, and furthers the objectives of Sections [sic] 6(b)(5) \7\ of the Act, in particular, in that it is designed 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. The Exchange believes that the proposed amendment is consistent with the protection of investors because failure to comply with Exchange rules could lead to delisting and the proposed amendment will enable listed issuers to have the systems and procedures needed to monitor and evidence compliance with the Proposed Rule Change prior to such rule being implemented. Providing listed issuers with additional time to ensure that they have adequate compliance systems in place furthers the protection of investors and the public interest because it will enhance investor confidence that listed issuers are complying with Exchange rules. --------------------------------------------------------------------------- \6\ 15 U.S.C. 78f(b). \7\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act, as amended. The Exchange notes that the proposed rule change will facilitate listed issuer ability to monitor and evidence compliance with approved continued listing rules by providing issuers with additional time to finish developing and testing their internal systems and procedures prior to the implementation date. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange received a copy of a letter from the Investment Company Institute, on behalf of listed ETF issuers, to the Securities and Exchange Commission.\8\ As described in Item 3 [sic], above, the Investment Company Institute detailed challenges that listed ETF issuers are facing in developing compliance systems to address the amendments contained in the Proposed Rule Change and have requested that [[Page 46554]] the implementation date for such amendments be extended. --------------------------------------------------------------------------- \8\ See Footnote 5, supra. --------------------------------------------------------------------------- III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) 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 and Rule 19b- 4(f)(6) thereunder.\9\ --------------------------------------------------------------------------- \9\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b- 4(f)(6)(iii), the Exchange provided the Commission with written notice of its intent to file the proposed rule change, along with a brief description and the 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. --------------------------------------------------------------------------- A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the Act \10\ normally does not become operative for 30 days after the date of its filing. However, Rule 19b-4(f)(6)(iii) \11\ permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission notes that waiver of the operative delay will allow the Exchange to immediately extend the implementation date of the Proposed Rule Change, and avoid the potential confusion and disruption that could result if the extension did not become operative until after October 1, 2017. The Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. Therefore, the Commission hereby waives the 30-day operative delay and designates the proposal operative upon filing.\12\ --------------------------------------------------------------------------- \10\ 17 CFR 240.19b-4(f)(6). \11\ 17 CFR 240.19b-4(f)(6)(iii). \12\ For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- 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 necessary or appropriate in the public interest, for the protection of investors, or 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 change 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 CommentsUse 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-NYSEArca-2017-115 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-NYSEArca-2017-115. 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-NYSEArca-2017-115 and should be submitted on or before October 26, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\13\ --------------------------------------------------------------------------- \13\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-21410 Filed 10-4-17; 8:45 am] BILLING CODE 8011-01-P
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subparagraph (f)(6) of Rule 19b–4 Paper Comments SECURITIES AND EXCHANGE
thereunder.19 COMMISSION
A proposed rule change filed under • Send paper comments in triplicate
Rule 19b–4(f)(6) 20 normally does not to Secretary, Securities and Exchange
[Release No. 34–81775; File No. SR–
become operative prior to 30 days after Commission, 100 F Street NE.,
NYSEArca–2017–115]
the date of the filing. However, pursuant Washington, DC 20549–1090.
to Rule 19b–4(f)(6)(iii),21 the Self-Regulatory Organizations; NYSE
All submissions should refer to File
Commission may designate a shorter Arca, Inc.; Notice of Filing and
time if such action is consistent with the Number SR–MRX–2017–19. This file
number should be included on the Immediate Effectiveness of Proposed
protection of investors and the public
subject line if email is used. To help the Rule Change To Extend the
interest. The Exchange requests that the
Commission waive the 30-day operative Commission process and review your Implementation Date for Certain
delay. The Exchange notes that a waiver comments more efficiently, please use Changes to the NYSE Arca Rule 5 and
is consistent with the protection of only one method. The Commission will Rule 8 Series
investors and the public interest post all comments on the Commission’s
September 29, 2017.
because it will allow the Exchange to Internet Web site (http://www.sec.gov/
correct its Block Order Mechanism rules rules/sro.shtml). Copies of the Pursuant to Section 19(b)(1) 1 of the
to reflect the current functionality of the submission, all subsequent Securities Exchange Act of 1934
system without undue delay. The amendments, all written statements (‘‘Act’’) 2 and Rule 19b–4 thereunder,3
Commission believes that waiving the with respect to the proposed rule notice is hereby given that, on
30-day operative delay is consistent change that are filed with the September 28, 2017, NYSE Arca, Inc.
with the protection of investors and the Commission, and all written (‘‘Exchange’’ or ‘‘NYSE Arca’’) filed
public interest. Accordingly, the communications relating to the with the Securities and Exchange
Commission hereby waives the 30-day proposed rule change between the Commission (‘‘Commission’’) the
operative delay and designates the Commission and any person, other than proposed rule change as described in
proposed rule change operative upon those that may be withheld from the Items I and II below, which Items have
filing.22 been prepared by the self-regulatory
public in accordance with the
At any time within 60 days of the organization. The Commission is
filing of the proposed rule change, the provisions of 5 U.S.C. 552, will be
available for Web site viewing and publishing this notice to solicit
Commission summarily may
printing in the Commission’s Public comments on the proposed rule change
temporarily suspend such rule change if
it appears to the Commission that such Reference Room, 100 F Street NE., from interested persons.
action is: (i) Necessary or appropriate in Washington, DC 20549, on official I. Self-Regulatory Organization’s
the public interest; (ii) for the protection business days between the hours of Statement of the Terms of Substance of
of investors; or (iii) otherwise in 10:00 a.m. and 3:00 p.m. Copies of the the Proposed Rule Change
furtherance of the purposes of the Act. filing also will be available for
If the Commission takes such action, the inspection and copying at the principal The Exchange proposes to extend the
Commission shall institute proceedings office of the Exchange. All comments date on which certain changes to the
to determine whether the proposed rule received will be posted without change; NYSE Arca Rule 5 and Rule 8 series are
should be approved or disapproved. the Commission does not edit personal implemented. The proposed rule change
IV. Solicitation of Comments identifying information from is available on the Exchange’s Web site
submissions. You should submit only at www.nyse.com, at the principal office
Interested persons are invited to
information that you wish to make of the Exchange, and at the
submit written data, views, and
available publicly. All submissions Commission’s Public Reference Room.
arguments concerning the foregoing,
including whether the proposed rule should refer to File Number SR–MRX–
II. Self-Regulatory Organization’s
change is consistent with the Act. 2017–19 and should be submitted on or
Statement of the Purpose of, and
Comments may be submitted by any of before October 26, 2017.
Statutory Basis for, the Proposed Rule
the following methods: For the Commission, by the Division of Change
Trading and Markets, pursuant to delegated
Electronic Comments
authority.23 In its filing with the Commission, the
• Use the Commission’s Internet Eduardo A. Aleman, self-regulatory organization included
comment form (http://www.sec.gov/ statements concerning the purpose of,
Assistant Secretary.
rules/sro.shtml); or and basis for, the proposed rule change
• Send an email to rule-comments@ [FR Doc. 2017–21402 Filed 10–4–17; 8:45 am]
and discussed any comments it received
sec.gov. Please include File Number SR– BILLING CODE 8011–01–P
on the proposed rule change. The text
MRX–2017–19 on the subject line.
of those statements may be examined at
19 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– the places specified in Item IV below.
4(f)(6) requires a self-regulatory organization to give The Exchange has prepared summaries,
the Commission written notice of its intent to file set forth in sections A, B, and C below,
the proposed rule change at least five business days
prior to the date of filing of the proposed rule of the most significant parts of such
ethrower on DSK3G9T082PROD with NOTICES
change, or such shorter time as designated by the statements.
Commission. The Exchange has satisfied this
requirement.
20 17 CFR 240.19b–4(f)(6).
21 17 CFR 240.19b–4(f)(6)(iii).
22 For purposes only of waiving the 30-day
1 15 U.S.C. 78s(b)(1).
operative delay, the Commission has considered the
2 15 U.S.C. 78a.
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f). 23 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4.
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A. Self-Regulatory Organization’s Because indices are, in most cases, Section 6(b) of the Act,6 in general, and
Statement of the Purpose of, and the managed and maintained by third-party furthers the objectives of Sections [sic]
Statutory Basis for, the Proposed Rule index providers, issuers need to ensure 6(b)(5) 7 of the Act, in particular, in that
Change that they have procedures in place to it is designed to promote just and
obtain required index files on an equitable principles of trade, to foster
1. Purpose
ongoing basis so they can test such files cooperation and coordination with
On January 6, 2017, the Exchange for compliance with applicable persons engaged in regulating, clearing,
filed a proposed rule change, as continued listing rules. Further, issuers settling, processing information with
subsequently amended by Amendments may need to contract with third party respect to, and facilitating transactions
No. 1 and 2 thereto (as amended, the data providers to obtain necessary in securities, to remove impediments to
‘‘Proposed Rule Change’’), to adopt trading information about securities and perfect the mechanism of a free and
certain changes to the NYSE Arca Rules included in an index. The Exchange open market and a national market
5 and 8 series to add additional understands that issuers have been system, and, in general, to protect
continued listing standards for engaged in dialogue with index investors and the public interest. The
exchange-traded funds (‘‘ETFs’’) as well providers on these topics. Once all Exchange believes that the proposed
as clarify the procedures that the required information has been obtained, amendment is consistent with the
Exchange will undertake when an ETF issuers have informed the Exchange that protection of investors because failure to
is noncompliant with applicable rules. they require additional time to test their comply with Exchange rules could lead
Given the scope of the amendments systems and procedures to ensure they to delisting and the proposed
specified in the Proposed Rule Change, are accurate and efficient. amendment will enable listed issuers to
the Exchange proposed that such The Exchange believes it is have the systems and procedures
amendments not be implemented until appropriate to extend the needed to monitor and evidence
October 1, 2017. On March 9, 2017, the implementation date of the Proposed compliance with the Proposed Rule
Commission granted accelerated Rule Change to January 1, 2018 to Change prior to such rule being
approval of the Proposed Rule Change, implemented. Providing listed issuers
provide listed ETF issuers with the time
including the October 1, 2017 with additional time to ensure that they
needed to finish developing and testing
implementation date.4 The Exchange have adequate compliance systems in
their compliance procedures. In support
now proposes to extend the place furthers the protection of investors
of its proposal, the Exchange notes that
implementation date of the amendments and the public interest because it will
the Proposed Rule Change imposes
specified in the Proposed Rule Change enhance investor confidence that listed
significant new compliance
to January 1, 2018. issuers are complying with Exchange
Since the Proposed Rule Change was requirements on issuers that they have
not been subject to previously. To meet rules.
approved, the Exchange has engaged in
extensive conversations with issuers of these new compliance requirements, B. Self-Regulatory Organization’s
listed ETFs, industry advocacy groups issuers must develop internal systems as Statement on Burden on Competition
and index providers to discuss the new well as coordinate with third-party
service providers, such as index The Exchange does not believe that
rule requirements and offer guidance on the proposed rule change will impose
rule interpretation and application. As a providers, to develop procedures by
which they can obtain essential data. any burden on competition not
result of these conversations, ETF necessary or appropriate in furtherance
issuers have expressed concern about Listed issuers have informed the
Exchange that they are unable to of the purposes of the Act, as amended.
their ability to have in place systems The Exchange notes that the proposed
and procedures to ensure compliance by complete this extensive project by the
pending October 1, 2017 rule change will facilitate listed issuer
the current October 1, 2017 ability to monitor and evidence
implementation date. In particular, implementation date. The Exchange
believes that it is critical for listed ETF compliance with approved continued
listed ETF issuers, and industry listing rules by providing issuers with
advocacy groups on their behalf, have issuers to have the appropriate
procedures and systems in place to additional time to finish developing and
explained that issuers require additional testing their internal systems and
time to engage with listing exchanges to monitor and evidence ETF compliance
with the new continued listing rules procedures prior to the implementation
better understand how elements of the date.
Proposed Rule Change will be before such rules are implemented
interpreted and applied as well as to because failure to comply with C. Self-Regulatory Organization’s
design and test new compliance Exchange rules could lead to delisting. Statement on Comments on the
systems. The Exchange has been Therefore, the Exchange proposes to Proposed Rule Change Received From
engaged with its listed issuers and will extend the implementation date for the Members, Participants, or Others
continue to engage with them on topics Proposed Rule Change until January 1, The Exchange received a copy of a
of rule interpretation and application. In 2018. During the proposed extension letter from the Investment Company
addition, issuers require time to engage period, the Exchange will communicate Institute, on behalf of listed ETF issuers,
in discussions with third-party with issuers, as needed, with respect to to the Securities and Exchange
providers to source and track new data any questions about interpretation and Commission.8 As described in Item 3
elements required for rule compliance.5 application of the Proposed Rule [sic], above, the Investment Company
Change and in order to better Institute detailed challenges that listed
4 See Securities Exchange Act Release No. 80189 understand the progress being made by ETF issuers are facing in developing
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(March 9, 2017), 82 FR 13889 (March 15, 2017) (SR– issuers in completing the development
NYSEArca–2017–01). compliance systems to address the
5 See, for example, Letter, dated July 11, 2017,
of their compliance testing and amendments contained in the Proposed
from Dorothy Donohue, Acting General Counsel, procedures. Rule Change and have requested that
Investment Company Institute to Brent J. Fields,
Secretary, Securities and Exchange Commission, 2. Statutory Basis
6 15 U.S.C. 78f(b).
available at https://www.sec.gov/comments/sr-
nasdaq-2016-135/nasdaq2016135-1846208-
The Exchange believes that the 7 15 U.S.C. 78f(b)(5).
155175.pdf. proposed rule change is consistent with 8 See Footnote 5, supra.
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![46554 Federal Register / Vol. 82, No. 192 / Thursday, October 5, 2017 / Notices
the implementation date for such change should be approved or For the Commission, by the Division of
amendments be extended. disapproved. Trading and Markets, pursuant to delegated
authority.13
III. Date of Effectiveness of the IV. Solicitation of Comments Eduardo A. Aleman,
Proposed Rule Change and Timing for Assistant Secretary.
Commission Action Interested persons are invited to
submit written data, views, and [FR Doc. 2017–21410 Filed 10–4–17; 8:45 am]
Because the foregoing proposed rule
change does not: (i) Significantly affect arguments concerning the foregoing, BILLING CODE 8011–01–P
the protection of investors or the public including whether the proposed rule
interest; (ii) impose any significant change is consistent with the Act.
Comments may be submitted by any of SECURITIES AND EXCHANGE
burden on competition; and (iii) become COMMISSION
operative for 30 days from the date on the following methods:
which it was filed, or such shorter time [Release No. 34–81768; File No. SR–C2–
Electronic Comments 2017–025]
as the Commission may designate, it has
become effective pursuant to Section • Use the Commission’s Internet
Self-Regulatory Organizations; C2
19(b)(3)(A) of the Act and Rule 19b– comment form (http://www.sec.gov/
Options Exchange, Incorporated;
4(f)(6) thereunder.9 rules/sro.shtml); or
Notice of Filing and Immediate
A proposed rule change filed • Send an email to rule-comments@ Effectiveness of a Proposed Rule
pursuant to Rule 19b–4(f)(6) under the sec.gov. Please include File Number SR– Change To Amend Rule 6.45 Relating
Act 10 normally does not become NYSEArca–2017–115 on the subject to Disaster Recovery
operative for 30 days after the date of its line.
filing. However, Rule 19b–4(f)(6)(iii) 11 September 29, 2017.
permits the Commission to designate a Paper Comments Pursuant to Section 19(b)(1) of the
shorter time if such action is consistent Securities Exchange Act of 1934
with the protection of investors and the • Send paper comments in triplicate
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
public interest. The Exchange has asked to Secretary, Securities and Exchange
notice is hereby given that on
the Commission to waive the 30-day Commission, 100 F Street NE.,
September 20, 2017, C2 Options
operative delay so that the proposal may Washington, DC 20549–1090.
Exchange, Incorporated (‘‘Exchange’’ or
become operative immediately upon All submissions should refer to File ‘‘C2’’) filed with the Securities and
filing. The Commission notes that Number SR–NYSEArca–2017–115. This Exchange Commission (‘‘SEC’’ or
waiver of the operative delay will allow file number should be included on the ‘‘Commission’’) the proposed rule
the Exchange to immediately extend the subject line if email is used. To help the change as described in Items I, II, and
implementation date of the Proposed Commission process and review your III, below, which Items have been
Rule Change, and avoid the potential comments more efficiently, please use prepared by the Exchange. The
confusion and disruption that could only one method. The Commission will Exchange filed the proposal as a ‘‘non-
result if the extension did not become post all comments on the Commission’s controversial’’ proposed rule change
operative until after October 1, 2017. Internet Web site (http://www.sec.gov/ pursuant to Section 19(b)(3)(A)(iii) of
The Commission believes that waiver of rules/sro.shtml). Copies of the the Act 3 and Rule 19b–4(f)(6)
the 30-day operative delay is consistent submission, all subsequent thereunder.4 The Commission is
with the protection of investors and the amendments, all written statements publishing this notice to solicit
public interest. Therefore, the with respect to the proposed rule comments on the proposed rule change
Commission hereby waives the 30-day change that are filed with the from interested persons.
operative delay and designates the Commission, and all written
proposal operative upon filing.12 I. Self-Regulatory Organization’s
communications relating to the Statement of the Terms of Substance of
At any time within 60 days of the proposed rule change between the
filing of the proposed rule change, the the Proposed Rule Change
Commission and any person, other than
Commission summarily may those that may be withheld from the The Exchange proposes to amend
temporarily suspend such rule change if public in accordance with the Rule 6.45 relating to disaster recovery.
it appears to the Commission that such provisions of 5 U.S.C. 552, will be The text of the proposed rule change is
action is necessary or appropriate in the available for Web site viewing and also available on the Exchange’s Web
public interest, for the protection of printing in the Commission’s Public site (http://www.cboe.com/AboutCBOE/
investors, or otherwise in furtherance of Reference Room, 100 F Street NE., CBOELegalRegulatoryHome.aspx), at
the purposes of the Act. If the Washington, DC 20549 on official the Exchange’s Office of the Secretary,
Commission takes such action, the business days between the hours of and at the Commission’s Public
Commission shall institute proceedings 10:00 a.m. and 3:00 p.m. Copies of the Reference Room.
to determine whether the proposed rule filing also will be available for II. Self-Regulatory Organization’s
9 17
inspection and copying at the principal Statement of the Purpose of, and
CFR 240.19b–4(f)(6). As required under Rule
19b–4(f)(6)(iii), the Exchange provided the office of the Exchange. All comments Statutory Basis for, the Proposed Rule
Commission with written notice of its intent to file received will be posted without change; Change
the proposed rule change, along with a brief the Commission does not edit personal
description and the text of the proposed rule identifying information from In its filing with the Commission, the
change, at least five business days prior to the date
ethrower on DSK3G9T082PROD with NOTICES
submissions. You should submit only Exchange included statements
of filing of the proposed rule change, or such
shorter time as designated by the Commission. information that you wish to make concerning the purpose of and basis for
10 17 CFR 240.19b–4(f)(6). available publicly. All submissions 13 17 CFR 200.30–3(a)(12).
11 17 CFR 240.19b–4(f)(6)(iii).
should refer to File Number SR– 1 15
12 For purposes only of waiving the 30-day U.S.C. 78s(b)(1).
NYSEArca–2017–115 and should be 2 17 CFR 240.19b–4.
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
submitted on or before October 26, 3 15 U.S.C. 78s(b)(3)(A)(iii).
and capital formation. See 15 U.S.C. 78c(f). 2017. 4 17 CFR 240.19b–4(f)(6).
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Document Created: 2017-10-05 00:53:29
Document Modified: 2017-10-05 00:53:29
| 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 46552 |
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