82 FR 60647 - Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend NYSE American Rule 8.700E To Add Futures and Swaps on the EURO STOXX 50 Volatility Index to the Financial Instruments That an Issue of Managed Trust Securities May Hold
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 244 (December 21, 2017)
Federal Register Volume 82, Issue 244 (December 21, 2017)
| Page Range | 60647-60649 | |
| FR Document | 2017-27467 |
[Federal Register Volume 82, Number 244 (Thursday, December 21, 2017)] [Notices] [Pages 60647-60649] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-27467] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82339; File No. SR-NYSEAMER-2017-37] Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend NYSE American Rule 8.700E To Add Futures and Swaps on the EURO STOXX 50 Volatility Index to the Financial Instruments That an Issue of Managed Trust Securities May Hold December 15, 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 December 6, 2017, NYSE American LLC (``Exchange'' or ``NYSE American'') 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 amend NYSE American Rule 8.700E to add EURO STOXX 50 Volatility Index (VSTOXX[supreg]) futures and swaps on VSTOXX to the financial instruments that an issue of Managed Trust Securities may hold. The proposed rule change is available on the Exchange's website 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. A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose NYSE American Rule 8.700E permits the trading of Managed Trust Securities either by listing or pursuant to unlisted trading privileges (``UTP'').\3\ The Exchange proposes to amend NYSE American Rule 8.700E to add futures and swaps on the EURO STOXX 50 Volatility Index (``VSTOXX'') to the financial instruments in which an issue of Managed Trust Securities may hold long and/or short positions. (Futures on VSTOXX are referred to herein as ``Futures Contracts.'') --------------------------------------------------------------------------- \3\ The term ``Managed Trust Securities'' as used in the NYSE American Rules will, unless the context otherwise requires, mean a security that is registered under the Securities Act of 1933, as amended (15 U.S.C. 77a), and (i) is issued by a trust (``Trust''), or any series thereof, that (1) is a commodity pool as defined in the Commodity Exchange Act and regulations thereunder, is not registered or required to be registered as an investment company under the Investment Company Act of 1940, as amended, and is managed by a commodity pool operator registered with the Commodity Futures Trading Commission, and (2) holds long and/or short positions in exchange-traded futures contracts and/or certain currency forward contracts and/or swaps selected by the Trust's advisor consistent with the Trust's investment objectives, which will only include exchange-traded futures contracts involving commodities, commodity indices, currencies, currency indices, stock indices, fixed income indices, interest rates and sovereign, private and mortgage or asset backed debt instruments, and/or forward contracts on specified currencies, and/or swaps on stock indices, fixed income indices, commodity indices, commodities, currencies, currency indices, or interest rates, each as disclosed in the Trust's prospectus as such may be amended from time to time, and cash and cash equivalents; and (ii) is issued and redeemed continuously in specified aggregate amounts at the next applicable net asset value. See NYSE American Rule 8.700E(c). --------------------------------------------------------------------------- [[Page 60648]] The Exchange proposes to amend NYSE American Rule 8.700E(c)(1) to add Futures Contracts and swaps on VSTOXX to the financial instruments in which an issue of Managed Trust Securities may hold long and/or short positions.\4\ --------------------------------------------------------------------------- \4\ The Commission has approved amendments to NYSE Arca Rule 8.700-E that are substantially identical to those proposed herein. See Securities Exchange Act Release No. 82066 (November 13, 2017), 82 FR 54434 (November 17, 2017) (SR-NYSEArca-2017-85) (order approving proposed rule change to amend NYSE Arca Rule 8.700-E and to list and trade shares of the ProShares European Volatility Futures ETF). --------------------------------------------------------------------------- The VSTOXX is based on EURO STOXX 50 Index (``Index'') real-time option prices that are listed on the Eurex Exchange (``Eurex'') and are designed to reflect the market expectations of near-term up to long- term volatility by measuring the square root of the implied variances across all options of a given time to expiration.\5\ The Index includes 50 stocks that are among the largest free-float market capitalization stocks from 11 Eurozone countries.\6\ Futures Contracts are cash settled and trade between the hours of 7:30 a.m. and 10:30 p.m. Central European Time (``CET'') (2:30 a.m. and 5:30 p.m. Eastern Time). The Futures Contract value is 100 Euros per index point of the underlying and it is traded to two decimal places with a minimum price change of 0.05 points (equivalent to a value of 5 Euros). The daily settlement price is determined during the closing auction of the respective Futures Contract. The last trading day and final settlement day is 30 calendar days prior to the third Friday of the expiration month of the underlying options, which is usually the Wednesday prior to the second to last Friday of the respective maturity month. Information regarding the VSTOXX and the Futures Contracts can be found on the STOXX Limited (``STOXX'') website and the Eurex website, respectively.\7\ --------------------------------------------------------------------------- \5\ The VSTOXX is a non-investable index that seeks to measure the volatility of the Index over a future time horizon as implied by the price of option contracts on the Index available on the Eurex. The VSTOXX does not measure the actual volatility of the Index. The Futures Contracts are denominated in Euros and are traded exclusively on the Eurex. \6\ These countries include Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. \7\ Eurex is a member of the ISG and, as such, the Exchange may obtain information regarding trading in the Futures Contracts. For a list of the current members and affiliate members of ISG, see www.isgportal.com. --------------------------------------------------------------------------- STOXX computes the Index on a real-time basis throughout each trading day, from 8:50 a.m. until 5:30 CET (3:50 a.m. until 12:30 p.m. Eastern Time). VSTOXX levels will be calculated by STOXX and widely disseminated by major market data vendors on a real-time basis throughout each trading day. The Exchange believes that the proposed amendment to add Futures Contracts and swaps on VSTOXX to the financial instruments in which an issue of Managed Trust Securities may hold long and/or short positions will provide investors with the ability to better diversify and hedge their portfolios using an exchange traded security without having to trade directly in the underlying Futures Contracts, and will facilitate the listing and trading on the Exchange of additional Managed Trust Securities that will enhance competition among market participants, to the benefit of investors and the marketplace. The Exchange believes that its surveillance procedures are adequate to continue to properly monitor the trading of Managed Trust Securities that hold Futures Contracts and swaps on VSTOXX in all trading sessions and to deter and detect violations of Exchange rules. The Exchange notes that the proposed change is not otherwise intended to address any other issues and that the Exchange is not aware of any problems that ETP Holders or issuers would have in complying with the proposed change. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,\8\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\9\ in particular, because it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to, and perfect the mechanism of a free and open market and, in general, to protect investors and the public interest. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f(b). \9\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes that the proposed change would facilitate the listing and trading of additional types of Managed Trust Securities, which would enhance competition among market participants, to the benefit of investors and the marketplace. The Exchange believes that the proposed rule change is designed to prevent fraudulent and manipulative acts and practices because the Managed Trust Securities would continue to be listed and traded on the Exchange pursuant to the initial and continued listing criteria in Rule 8.700E. The proposed amendments to NYSE American Rule 8.700E relating to Managed Trust Securities are substantially identical to amendments to NYSE Arca Rule 8.700E previously approved by the Commission.\10\ --------------------------------------------------------------------------- \10\ See note 4, supra. --------------------------------------------------------------------------- The Exchange has in place surveillance procedures that are adequate to properly monitor trading in Managed Trust Securities in all trading sessions and to deter and detect violations of Exchange rules and applicable federal securities laws. All Managed Trust Securities traded pursuant to NYSE American Rule 8.700E are included within the definition of ``security'' or ``securities'' as such terms are used in the Exchange rules and, as such, are subject to Exchange rules and procedures that currently govern the trading of securities on the Exchange. Trading in the securities will be halted under the conditions specified in NYSE American Rule 8.700E(e)(2)(D). For these reasons, the Exchange believes that the proposal is consistent with the Act. B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,\11\ the Exchange 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. Instead, the Exchange believes that the proposed change will encourage competition by enabling additional types of Managed Trust Securities to be traded on the Exchange. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act \12\ and Rule 19b-4(f)(6) thereunder.\13\ 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 [[Page 60649]] 19(b)(3)(A) of the Act \14\ and Rule 19b-4(f)(6) thereunder.\15\ --------------------------------------------------------------------------- \12\ 15 U.S.C. 78s(b)(3)(A)(iii). \13\ 17 CFR 240.19b-4(f)(6). \14\ 15 U.S.C. 78s(b)(3)(A). \15\ 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 under Rule 19b-4(f)(6) normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii), the Commission may 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. As noted above, the proposed amendments to NYSE American Rule 8.700E relating to Managed Trust Securities are substantially identical to amendments to NYSE Arca Rule 8.700E previously approved by the Commission. The proposal raises no new or novel issues. Therefore, the Commission designates the proposed rule change to be operative upon filing.\16\ --------------------------------------------------------------------------- \16\ 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. 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-NYSEAMER-2017-37 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-NYSEAMER-2017-37. 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 website (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 website 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. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-NYSEAMER-2017-37 and should be submitted on or before January 11, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\17\ Robert W. Errett, Deputy Secretary. --------------------------------------------------------------------------- \17\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- [FR Doc. 2017-27467 Filed 12-20-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 244 / Thursday, December 21, 2017 / Notices 60647
that the proposed rule change (SR– respond to, a collection of information change is available on the Exchange’s
NYSEArca–2017–111), as modified by under the PRA unless it displays a website at www.nyse.com, at the
Amendment No. 2, be, and it hereby is, currently valid OMB control number. principal office of the Exchange, and at
approved on an accelerated basis. The public may view the background the Commission’s Public Reference
For the Commission, by the Division of
documentation for this information Room.
Trading and Markets, pursuant to delegated collection at the following website:
www.reginfo.gov. II. Self-Regulatory Organization’s
authority.53
Please direct your written comments Statement of the Purpose of, and
Robert W. Errett, Statutory Basis for, the Proposed Rule
to: Pamela Dyson, Director/Chief
Deputy Secretary. Change
Information Officer, Securities and
[FR Doc. 2017–27463 Filed 12–20–17; 8:45 am]
Exchange Commission, c/o Remi Pavlik- In its filing with the Commission, the
BILLING CODE 8011–01–P
Simon, 100 F Street NE, Washington, self-regulatory organization included
DC 20549, or by sending an email to: statements concerning the purpose of,
PRA_Mailbox@sec.gov. Comments must and basis for, the proposed rule change
SECURITIES AND EXCHANGE
be submitted to OMB within 30 days of and discussed any comments it received
COMMISSION this notice. on the proposed rule change. The text
[SEC File No. 270–146, OMB Control No. Dated: December 15, 2017. of those statements may be examined at
3235–0134] the places specified in Item IV below.
Robert W. Errett,
Deputy Secretary. The Exchange has prepared summaries,
Submission for OMB Review;
[FR Doc. 2017–27460 Filed 12–20–17; 8:45 am]
set forth in sections A, B, and C below,
Comment Request
BILLING CODE 8011–01–P
of the most significant parts of such
Upon Written Request, Copies Available statements.
From: U.S. Securities and Exchange
A. Self-Regulatory Organization’s
Commission, Office of FOIA Services, SECURITIES AND EXCHANGE Statement of the Purpose of, and the
Washington, DC 20549–2736 COMMISSION Statutory Basis for, the Proposed Rule
Extension: [Release No. 34–82339; File No. SR– Change
Rule 15c1–7 NYSEAMER–2017–37]
1. Purpose
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995 Self-Regulatory Organizations; NYSE NYSE American Rule 8.700E permits
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the American LLC; Notice of Filing and the trading of Managed Trust Securities
Securities and Exchange Commission Immediate Effectiveness of Proposed either by listing or pursuant to unlisted
(‘‘Commission’’) has submitted to the Rule Change To Amend NYSE trading privileges (‘‘UTP’’).3 The
Office of Management and Budget American Rule 8.700E To Add Futures Exchange proposes to amend NYSE
(‘‘OMB’’) a request for approval of and Swaps on the EURO STOXX 50 American Rule 8.700E to add futures
extension of the existing collection of Volatility Index to the Financial and swaps on the EURO STOXX 50
information provided for in Rule Instruments That an Issue of Managed Volatility Index (‘‘VSTOXX’’) to the
15c1–7 (17 CFR 240.15c1–7) under the Trust Securities May Hold financial instruments in which an issue
Securities Exchange Act of 1934 (15 December 15, 2017.
of Managed Trust Securities may hold
U.S.C. 78a et seq.) (‘‘Exchange Act’’). long and/or short positions. (Futures on
Pursuant to Section 19(b)(1) 1 of the
Rule 15c1–7 states that any act of a Securities Exchange Act of 1934 VSTOXX are referred to herein as
broker-dealer designed to effect (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 ‘‘Futures Contracts.’’)
securities transactions with or for a notice is hereby given that on December
customer account over which the 6, 2017, NYSE American LLC
3 The term ‘‘Managed Trust Securities’’ as used in
broker-dealer (directly or through an (‘‘Exchange’’ or ‘‘NYSE American’’) filed
the NYSE American Rules will, unless the context
agent or employee) has discretion will otherwise requires, mean a security that is
with the Securities and Exchange registered under the Securities Act of 1933, as
be considered a fraudulent, Commission (‘‘Commission’’) the amended (15 U.S.C. 77a), and (i) is issued by a trust
manipulative, or deceptive practice proposed rule change as described in (‘‘Trust’’), or any series thereof, that (1) is a
under the federal securities laws, unless Items I and II below, which Items have
commodity pool as defined in the Commodity
a record is made of the transaction Exchange Act and regulations thereunder, is not
been prepared by the self-regulatory registered or required to be registered as an
immediately by the broker-dealer. The organization. The Commission is investment company under the Investment
record must include (a) the name of the publishing this notice to solicit Company Act of 1940, as amended, and is managed
customer, (b) the name, amount, and comments on the proposed rule change
by a commodity pool operator registered with the
price of the security, and (c) the date Commodity Futures Trading Commission, and (2)
from interested persons. holds long and/or short positions in exchange-
and time when such transaction took traded futures contracts and/or certain currency
place. The Commission estimates that I. Self-Regulatory Organization’s forward contracts and/or swaps selected by the
394 respondents collect information Statement of the Terms of Substance of Trust’s advisor consistent with the Trust’s
related to approximately 400,000 the Proposed Rule Change investment objectives, which will only include
exchange-traded futures contracts involving
transactions annually under Rule The Exchange proposes to amend commodities, commodity indices, currencies,
15c1–7 and that each respondent would NYSE American Rule 8.700E to add currency indices, stock indices, fixed income
spend approximately 5 minutes on the EURO STOXX 50 Volatility Index indices, interest rates and sovereign, private and
mortgage or asset backed debt instruments, and/or
collection of information for each (VSTOXX®) futures and swaps on
daltland on DSKBBV9HB2PROD with NOTICES
forward contracts on specified currencies, and/or
transaction, for approximately 33,338 VSTOXX to the financial instruments swaps on stock indices, fixed income indices,
aggregate hours per year (approximately that an issue of Managed Trust commodity indices, commodities, currencies,
84.6 hours per respondent). Securities may hold. The proposed rule currency indices, or interest rates, each as disclosed
An agency may not conduct or in the Trust’s prospectus as such may be amended
from time to time, and cash and cash equivalents;
sponsor, and a person is not required to 1 15 U.S.C. 78s(b)(1). and (ii) is issued and redeemed continuously in
2 15 U.S.C. 78a. specified aggregate amounts at the next applicable
53 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4. net asset value. See NYSE American Rule 8.700E(c).
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![Federal Register / Vol. 82, No. 244 / Thursday, December 21, 2017 / Notices 60649
19(b)(3)(A) of the Act 14 and Rule 19b– All submissions should refer to File SECURITIES AND EXCHANGE
4(f)(6) thereunder.15 Number SR–NYSEAMER–2017–37. This COMMISSION
A proposed rule change filed under file number should be included on the
[Release No. 34–82337; File No. SR–
Rule 19b–4(f)(6) normally does not subject line if email is used. To help the CboeBYX–2017–001; SR–CboeBZX–2017–
become operative prior to 30 days after Commission process and review your 001; SR–CboeEDGA–2017–001; SR–
the date of the filing. However, pursuant comments more efficiently, please use CboeEDGX–2017–001]
to Rule 19b–4(f)(6)(iii), the Commission only one method. The Commission will
may designate a shorter time if such post all comments on the Commission’s Self-Regulatory Organizations; Cboe
action is consistent with the protection internet website (http://www.sec.gov/ BYX Exchange, Inc.; Cboe BZX
of investors and the public interest. The rules/sro.shtml). Copies of the Exchange, Inc.; Cboe EDGA Exchange,
Exchange has asked the Commission to Inc.; Cboe EDGX Exchange, Inc.; Order
submission, all subsequent
waive the 30-day operative delay so that Granting Accelerated Approval of a
amendments, all written statements
the proposal may become operative Proposed Rule Change Relating to Its
with respect to the proposed rule
immediately upon filing. As noted Director Nomination and Committee
above, the proposed amendments to change that are filed with the
Appointment Process and Its
NYSE American Rule 8.700E relating to Commission, and all written
Nominating and Governance
Managed Trust Securities are communications relating to the Committee
substantially identical to amendments proposed rule change between the
to NYSE Arca Rule 8.700E previously Commission and any person, other than December 15, 2017.
approved by the Commission. The those that may be withheld from the I. Introduction
proposal raises no new or novel issues. public in accordance with the
provisions of 5 U.S.C. 552, will be On November 14, 2017, each of Cboe
Therefore, the Commission designates
available for website viewing and BYX Exchange, Inc. (‘‘Cboe BYX’’), Cboe
the proposed rule change to be operative
printing in the Commission’s Public BZX Exchange, Inc. (‘‘Cboe BZX’’), Cboe
upon filing.16
At any time within 60 days of the Reference Room, 100 F Street NE, EDGA Exchange, Inc. (‘‘Cboe EDGA’’),
filing of the proposed rule change, the Cboe EDGX Exchange, Inc. (‘‘Cboe
Washington, DC 20549 on official
Commission summarily may EDGX’’) (each an ‘‘Exchange’’ and
business days between the hours of
temporarily suspend such rule change if collectively, ‘‘Exchanges’’) filed with the
10:00 a.m. and 3:00 p.m. Copies of the Securities and Exchange Commission
it appears to the Commission that such filing also will be available for
action is necessary or appropriate in the (‘‘Commission’’), pursuant to Section
inspection and copying at the principal 19(b)(1) of the Securities Exchange Act
public interest, for the protection of office of the Exchange. All comments
investors, or otherwise in furtherance of of 1934 (‘‘Act’’) 1 and Rule 19b–4
received will be posted without change. thereunder,2 a proposed rule change to
the purposes of the Act. Persons submitting comments are eliminate its Nominating and
IV. Solicitation of Comments cautioned that we do not redact or edit Governance Committee (‘‘N&G
Interested persons are invited to personal identifying information from Committee’’) and amend the process by
submit written data, views, and comment submissions. You should which (i) directors are elected, (ii)
arguments concerning the foregoing, submit only information that you wish committee appointments are made, and
including whether the proposed rule to make available publicly. All (iii) vacancies are filled.3 The proposed
change is consistent with the Act. submissions should refer to File rule changes were published for
Comments may be submitted by any of Number SR–NYSEAMER–2017–37 and comment in the Federal Register on
the following methods: should be submitted on or before November 27, 2017.4 The Commission
January 11, 2018. received no comments on the proposals.
Electronic Comments This order approves the proposed rule
For the Commission, by the Division of
• Use the Commission’s internet Trading and Markets, pursuant to delegated
changes on an accelerated basis.
comment form (http://www.sec.gov/ authority.17 II. Description of the Proposal
rules/sro.shtml); or
Robert W. Errett,
• Send an email to rule-comments@ First, the Exchanges propose to
sec.gov. Please include File Number Deputy Secretary. eliminate their N&G Committees and
SR–NYSEAMER–2017–37 on the subject [FR Doc. 2017–27467 Filed 12–20–17; 8:45 am] provide that the sole stockholder of the
line. BILLING CODE 8011–01–P Exchanges (Cboe Global Markets, Inc.)
shall nominate and elect directors at the
Paper Comments annual meetings of the sole stockholder,
• Send paper comments in triplicate
1 15 U.S.C. 78s(b)(1).
to Secretary, Securities and Exchange
2 17 CFR 240.19b–4.
Commission, 100 F Street NE,
3 In addition, the Exchanges propose to make
Washington, DC 20549–1090. several formatting changes throughout the Bylaws
as well as to change their names in the title and
14 15 U.S.C. 78s(b)(3)(A). signature lines in their Certificates of Incorporation
15 17 CFR 240.19b–4(f)(6). As required under Rule (‘‘Certificates’’) to reflect recent changes to their
19b–4(f)(6)(iii), the Exchange provided the legal names.
Commission with written notice of its intent to file 4 See Securities Exchange Act Release Nos. 82122
daltland on DSKBBV9HB2PROD with NOTICES
the proposed rule change, along with a brief (November 20, 2017), 82 FR 53076 (November 27,
description and the text of the proposed rule 2017) (SR–CboeBYX–2017–001) (‘‘CboeBYX
change, at least five business days prior to the date Notice’’); 82123 (November 20, 2017), 82 FR 56065
of filing of the proposed rule change, or such (November 27, 2017) (SR–CboeBZX–2017–001)
shorter time as designated by the Commission. (‘‘CboeBZX Notice’’); 82125 (November 20, 2017),
16 For purposes only of waiving the 30-day 82 FR 56079 (November 27, 2017) (SR–CboeEDGA–
operative delay, the Commission has considered the 2017–001) (‘‘CboeEDGA Notice’’); 82126 (November
proposed rule’s impact on efficiency, competition, 20, 2017), 82 FR 56072 (SR–CboeEDGX–2017–001)
and capital formation. See 15 U.S.C. 78c(f). 17 17 CFR 200.30–3(a)(12). (‘‘CboeEDGX Notice’’) (collectively, the ‘‘Notices’’).
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Document Created: 2018-10-25 11:01:42
Document Modified: 2018-10-25 11:01:42
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| FR Citation | 82 FR 60647 |
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