83 FR 26329 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 7.37-E and Rule 7.45-E With Respect to NYSE National's Reopening of Trading and Reactivating Connection to the Securities Information Processors

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 109 (June 6, 2018)

Page Range		26329-26331
FR Document		2018-12112
Federal Register, Volume 83 Issue 109 (Wednesday, June 6, 2018)
[Federal Register Volume 83, Number 109 (Wednesday, June 6, 2018)]
[Notices]
[Pages 26329-26331]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-12112]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83352; File No. SR-NYSEArca-2018-37]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend Rule 7.37-
E and Rule 7.45-E With Respect to NYSE National's Reopening of Trading 
and Reactivating Connection to the Securities Information Processors

May 31, 2018.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that on May 18, 2018, NYSE Arca, Inc. (the ``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 the 
Substance of the Proposed Rule Change

    The Exchange proposes to: (1) Amend Rule 7.37-E to specify in 
Exchange rules the Exchange's use of data feeds from NYSE National, 
Inc. (``NYSE National'') for order handling and execution, order 
routing, and regulatory compliance; and (2) amend Rule 7.45-E to 
reflect that Archipelago Securities LLC (``Arca Securities'') would 
function as a routing broker for the Exchange's affiliate, NYSE 
National. 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 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to update and amend the table in Rule 7.37-E 
that sets forth on a market-by-market basis the specific network 
processor and proprietary data feeds that the Exchange utilizes for the 
handling, execution and routing of orders, and for performing the 
regulatory compliance checks related to each of those functions. 
Specifically, the table would be amended to include NYSE National, 
which intends to reopen trading and reactivate its connections to the 
securities information processors (``SIPs''). To reflect that, the 
Exchange proposes to amend Rule 7.37-E to specify which data feeds the 
Exchange would use for NYSE National. As proposed, the Exchange would 
use the direct data feeds for NYSE National and would use the SIP data 
feeds as a secondary source.
    Additionally, the Exchange proposes to amend Rule 7.45-E to reflect 
that Arca Securities would function as a

[[Page 26330]]

routing broker for the Exchange's affiliate, NYSE National. 
Specifically, the Exchange proposes to amend Rule 7.45-E(c)(1) and (2) 
to reference NYSE National as an affiliate of the Exchange for the 
purposes of the inbound routing function performed by Arca Securities. 
The proposed rule change would provide more clarity and transparency to 
all the functions that Arca Securities performs on behalf of the 
Exchange and its affiliates, which now includes NYSE National. The 
Exchange is not proposing any substantive change to the rule.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the 
Securities Exchange Act of 1934 (the ``Act''),\4\ in general, and 
furthers the objectives of Section 6(b)(5),\5\ in particular, because 
it is 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 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 its proposal to update the table in Rule 7.37-E to include 
NYSE National will ensure that Rule 7.37-E correctly identifies and 
publicly states on a market-by-market basis all of the specific network 
processor and proprietary data feeds that the Exchange utilizes for the 
handling, execution and routing of orders, and for performing the 
regulatory compliance checks to each of those functions. The proposed 
rule change also removes impediments to and perfects the mechanism of a 
free and open market and protects investors and the public interest 
because it provides additional specificity, clarity and transparency. 
The Exchange believes the proposed rule change to amend Rule 7.45-E 
also removes impediments to and perfects the mechanism of a free and 
open market and protects investors and the public interest because the 
proposed rule change would enhance the clarity and transparency in 
Exchange Rules surrounding the inbound routing function performed by 
Arca Securities for the Exchange's affiliate, NYSE National.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f(b).
    \5\ 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 that is not necessary or appropriate 
in furtherance of the purposes of the Act. The proposed change is not 
designed to address any competitive issue but rather would provide the 
public and investors with information about which data feeds the 
Exchange uses for execution and routing decisions, and provide clarity 
in Exchange rules that Arca Securities would perform the inbound 
routing function on behalf on the Exchange's affiliate, NYSE National.

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

    Because the 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 \6\ and Rule 19b-4(f)(6) thereunder.\7\
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 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 \8\ normally does not become operative for 30 days after the date 
of its filing. However, Rule 19b-4(f)(6)(iii) \9\ 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 proposed rule change may become operative upon filing. The Exchange 
states that waiver of the operative delay would be consistent with the 
protection of investors and the public interest because it will allow 
the Exchange to immediately provide enhanced transparency in Exchange 
rules regarding which data feeds the Exchange will use for NYSE 
National and clarify in the Exchange's rules that Arca Securities will 
perform the inbound routing function for NYSE National. The Commission 
believes that waiving the 30-day operative delay is consistent with the 
protection of investors and the public interest. Therefore, the 
Commission hereby waives the operative delay and designates the 
proposal as operative upon filing.\10\
---------------------------------------------------------------------------

    \8\ 17 CFR 240.19b-4(f)(6).
    \9\ 17 CFR 240.19b-4(f)(6)(iii).
    \10\ For purposes only of waiving the 30-day operative delay, 
the Commission has also 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 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-NYSEArca-2018-37 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-NYSEArca-2018-37. 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

[[Page 26331]]

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 such 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-NYSEArca-2018-37, and should be 
submitted on or before June 27, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-12112 Filed 6-5-18; 8:45 am]
BILLING CODE 8011-01-P
Federal Register / Vol. 83, No. 109 / Wednesday, June 6, 2018 / Notices 26329

transparency in Exchange rules change that are filed with the solicit comments on the proposed rule
regarding which data feeds the Commission, and all written change from interested persons.
Exchange will use for NYSE National communications relating to the
I. Self-Regulatory Organization’s
and clarify in the Exchange’s rules that proposed rule change between the
Statement of the Terms of the Substance
Arca Securities will perform the Commission and any person, other than
those that may be withheld from the of the Proposed Rule Change
inbound routing function for NYSE
National. The Commission believes that public in accordance with the The Exchange proposes to: (1) Amend
waiving the 30-day operative delay is provisions of 5 U.S.C. 552, will be Rule 7.37–E to specify in Exchange rules
consistent with the protection of available for website viewing and the Exchange’s use of data feeds from
investors and the public interest. printing in the Commission’s Public NYSE National, Inc. (‘‘NYSE National’’)
Therefore, the Commission hereby Reference Room, 100 F Street NE, for order handling and execution, order
waives the operative delay and Washington, DC 20549 on official routing, and regulatory compliance; and
designates the proposal as operative business days between the hours of (2) amend Rule 7.45–E to reflect that
upon filing.10 10:00 a.m. and 3:00 p.m. Copies of the Archipelago Securities LLC (‘‘Arca
At any time within 60 days of the filing also will be available for Securities’’) would function as a routing
filing of the proposed rule change, the inspection and copying at the principal broker for the Exchange’s affiliate, NYSE
Commission summarily may office of the Exchange. All comments National. The proposed rule change is
temporarily suspend such rule change if received will be posted without change. available on the Exchange’s website at
it appears to the Commission that such Persons submitting comments are www.nyse.com, at the principal office of
action is necessary or appropriate in the cautioned that we do not redact or edit the Exchange, and at the Commission’s
public interest, for the protection of personal identifying information from Public Reference Room.
investors, or otherwise in furtherance of comment submissions. You should
the purposes of the Act. If the submit only information that you wish II. Self-Regulatory Organization’s
Commission takes such action, the to make available publicly. All Statement of the Purpose of, and
Commission shall institute proceedings submissions should refer to File Statutory Basis for, the Proposed Rule
to determine whether the proposed rule Number SR–NYSEAMER–2018–24, and Change
should be approved or disapproved. should be submitted on or before June In its filing with the Commission, the
27, 2018. self-regulatory organization included
IV. Solicitation of Comments
For the Commission, by the Division of statements concerning the purpose of,
Interested persons are invited to Trading and Markets, pursuant to delegated and basis for, the proposed rule change
submit written data, views, and authority.11 and discussed any comments it received
arguments concerning the foregoing, Eduardo A. Aleman, on the proposed rule change. The text
including whether the proposed rule Assistant Secretary. of those statements may be examined at
change is consistent with the Act. [FR Doc. 2018–12115 Filed 6–5–18; 8:45 am] the places specified in Item IV below.
Comments may be submitted by any of The Exchange has prepared summaries,
BILLING CODE 8011–01–P
the following methods: set forth in sections A, B, and C below,
Electronic Comments of the most significant parts of such
SECURITIES AND EXCHANGE statements.
• Use the Commission’s internet
COMMISSION A. Self-Regulatory Organization’s
comment form (http://www.sec.gov/
rules/sro.shtml); or [Release No. 34–83352; File No. SR– Statement of the Purpose of, and
• Send an email to rule-comments@ NYSEArca–2018–37] Statutory Basis for, the Proposed Rule
sec.gov. Please include File Number SR– Change
NYSEAMER–2018–24 on the subject Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and 1. Purpose
line.
Immediate Effectiveness of Proposed The Exchange proposes to update and
Paper Comments Rule Change To Amend Rule 7.37–E amend the table in Rule 7.37–E that sets
• Send paper comments in triplicate and Rule 7.45–E With Respect to NYSE forth on a market-by-market basis the
to Secretary, Securities and Exchange National’s Reopening of Trading and specific network processor and
Commission, 100 F Street NE, Reactivating Connection to the proprietary data feeds that the Exchange
Washington, DC 20549–1090. Securities Information Processors utilizes for the handling, execution and
All submissions should refer to File routing of orders, and for performing the
May 31, 2018.
Number SR–NYSEAMER–2018–24. This regulatory compliance checks related to
Pursuant to Section 19(b)(1) 1 of the
file number should be included on the each of those functions. Specifically, the
Securities Exchange Act of 1934 (the
subject line if email is used. To help the table would be amended to include
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
Commission process and review your NYSE National, which intends to
notice is hereby given that on May 18,
comments more efficiently, please use reopen trading and reactivate its
2018, NYSE Arca, Inc. (the ‘‘Exchange’’
only one method. The Commission will connections to the securities
or ‘‘NYSE Arca’’) filed with the
post all comments on the Commission’s information processors (‘‘SIPs’’). To
Securities and Exchange Commission
internet website (http://www.sec.gov/ reflect that, the Exchange proposes to
(‘‘Commission’’) the proposed rule
rules/sro.shtml). Copies of the amend Rule 7.37–E to specify which
change as described in Items I and II
submission, all subsequent data feeds the Exchange would use for
below, which Items have been prepared
daltland on DSKBBV9HB2PROD with NOTICES

amendments, all written statements NYSE National. As proposed, the
by the self-regulatory organization. The
with respect to the proposed rule Exchange would use the direct data
Commission is publishing this notice to
feeds for NYSE National and would use
10 For purposes only of waiving the 30-day
1117 CFR 200.30–3(a)(12). the SIP data feeds as a secondary source.
operative delay, the Commission has also
considered the proposed rule’s impact on
1 15 U.S.C.78s(b)(1). Additionally, the Exchange proposes
efficiency, competition, and capital formation. See 2 15 U.S.C. 78a. to amend Rule 7.45–E to reflect that
15 U.S.C. 78c(f). 3 17 CFR 240.19b–4. Arca Securities would function as a

VerDate Sep<11>2014 17:35 Jun 05, 2018 Jkt 244001 PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 E:\FR\FM\06JNN1.SGM 06JNN1
26330 Federal Register / Vol. 83, No. 109 / Wednesday, June 6, 2018 / Notices

routing broker for the Exchange’s B. Self-Regulatory Organization’s transparency in Exchange rules
affiliate, NYSE National. Specifically, Statement on Burden on Competition regarding which data feeds the
the Exchange proposes to amend Rule The Exchange does not believe that Exchange will use for NYSE National
7.45–E(c)(1) and (2) to reference NYSE the proposed rule change will impose and clarify in the Exchange’s rules that
National as an affiliate of the Exchange any burden on competition that is not Arca Securities will perform the
for the purposes of the inbound routing necessary or appropriate in furtherance inbound routing function for NYSE
function performed by Arca Securities. of the purposes of the Act. The National. The Commission believes that
The proposed rule change would proposed change is not designed to waiving the 30-day operative delay is
provide more clarity and transparency address any competitive issue but rather consistent with the protection of
would provide the public and investors investors and the public interest.
to all the functions that Arca Securities
with information about which data Therefore, the Commission hereby
performs on behalf of the Exchange and
waives the operative delay and
its affiliates, which now includes NYSE feeds the Exchange uses for execution
designates the proposal as operative
National. The Exchange is not proposing and routing decisions, and provide
upon filing.10
any substantive change to the rule. clarity in Exchange rules that Arca
At any time within 60 days of the
Securities would perform the inbound
2. Statutory Basis filing of the proposed rule change, the
routing function on behalf on the
Commission summarily may
Exchange’s affiliate, NYSE National.
The proposed rule change is temporarily suspend such rule change if
consistent with Section 6(b) of the C. Self-Regulatory Organization’s it appears to the Commission that such
Securities Exchange Act of 1934 (the Statement on Comments on the action is necessary or appropriate in the
‘‘Act’’),4 in general, and furthers the Proposed Rule Change Received From public interest, for the protection of
objectives of Section 6(b)(5),5 in Members, Participants, or Others investors, or otherwise in furtherance of
particular, because it is designed to No written comments were solicited the purposes of the Act. If the
prevent fraudulent and manipulative or received with respect to the proposed Commission takes such action, the
acts and practices, to promote just and rule change. Commission shall institute proceedings
equitable principles of trade, to foster to determine whether the proposed rule
III. Date of Effectiveness of the should be approved or disapproved.
cooperation and coordination with
Proposed Rule Change and Timing for
persons engaged in facilitating IV. Solicitation of Comments
Commission Action
transactions in securities, to remove Interested persons are invited to
impediments to, and perfect the Because the proposed rule change
does not (i) significantly affect the submit written data, views, and
mechanism of, a free and open market arguments concerning the foregoing,
and a national market system and, in protection of investors or the public
interest; (ii) impose any significant including whether the proposed rule
general, to protect investors and the change is consistent with the Act.
public interest. The Exchange believes burden on competition; and (iii) become
operative for 30 days from the date on Comments may be submitted by any of
its proposal to update the table in Rule the following methods:
which it was filed, or such shorter time
7.37–E to include NYSE National will
as the Commission may designate, it has Electronic Comments
ensure that Rule 7.37–E correctly become effective pursuant to Section
identifies and publicly states on a • Use the Commission’s internet
19(b)(3)(A) of the Act 6 and Rule 19b– comment form (http://www.sec.gov/
market-by-market basis all of the 4(f)(6) thereunder.7
specific network processor and rules/sro.shtml); or
A proposed rule change filed • Send an email to rule-comments@
proprietary data feeds that the Exchange pursuant to Rule 19b–4(f)(6) under the sec.gov. Please include File Number SR–
utilizes for the handling, execution and Act 8 normally does not become NYSEArca–2018–37 on the subject line.
routing of orders, and for performing the operative for 30 days after the date of its
regulatory compliance checks to each of filing. However, Rule 19b–4(f)(6)(iii) 9 Paper Comments
those functions. The proposed rule permits the Commission to designate a • Send paper comments in triplicate
change also removes impediments to shorter time if such action is consistent to Secretary, Securities and Exchange
and perfects the mechanism of a free with the protection of investors and the Commission, 100 F Street NE,
and open market and protects investors public interest. The Exchange has asked Washington, DC 20549–1090.
and the public interest because it the Commission to waive the 30-day All submissions should refer to File
provides additional specificity, clarity operative delay so that the proposed Number SR–NYSEArca–2018–37. This
and transparency. The Exchange rule change may become operative upon file number should be included on the
believes the proposed rule change to filing. The Exchange states that waiver subject line if email is used. To help the
amend Rule 7.45–E also removes of the operative delay would be Commission process and review your
impediments to and perfects the consistent with the protection of comments more efficiently, please use
mechanism of a free and open market investors and the public interest only one method. The Commission will
and protects investors and the public because it will allow the Exchange to post all comments on the Commission’s
interest because the proposed rule immediately provide enhanced internet website (http://www.sec.gov/
change would enhance the clarity and rules/sro.shtml). Copies of the
6 15 U.S.C. 78s(b)(3)(A).
transparency in Exchange Rules submission, all subsequent
7 17 CFR 240.19b–4(f)(6). As required under Rule amendments, all written statements
surrounding the inbound routing
daltland on DSKBBV9HB2PROD with NOTICES

19b–4(f)(6)(iii), the Exchange provided the
Commission with written notice of its intent to file with respect to the proposed rule
function performed by Arca Securities
the proposed rule change, along with a brief change that are filed with the
for the Exchange’s affiliate, NYSE description and the text of the proposed rule
National. change, at least five business days prior to the date 10 For purposes only of waiving the 30-day
of filing of the proposed rule change, or such operative delay, the Commission has also
shorter time as designated by the Commission. considered the proposed rule’s impact on
4 15 U.S.C. 78f(b). 8 17 CFR 240.19b–4(f)(6).
efficiency, competition, and capital formation. See
5 15 U.S.C. 78f(b)(5). 9 17 CFR 240.19b–4(f)(6)(iii). 15 U.S.C. 78c(f).

VerDate Sep<11>2014 17:35 Jun 05, 2018 Jkt 244001 PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 E:\FR\FM\06JNN1.SGM 06JNN1
Federal Register / Vol. 83, No. 109 / Wednesday, June 6, 2018 / Notices 26331

Commission, and all written 19(b)(1) of the Securities Exchange Act days after the date of publication of
communications relating to the of 1934 (‘‘Act’’) 1 and Rule 19b–4 notice of filing of the proposed rule
proposed rule change between the thereunder,2 a proposed rule change to change. The Commission may, however,
Commission and any person, other than amend the Listed Company Manual for extend the period for issuing an order
those that may be withheld from the Special Purpose Acquisition Companies approving or disapproving the proposed
public in accordance with the (‘‘SPACs’’) 3 to lower the initial holders rule change by not more than 60 days
provisions of 5 U.S.C. 552, will be requirement from 300 to 150 round lot if the Commission determines that a
available for website viewing and holders and to eliminate the continued longer period is appropriate and
printing in the Commission’s Public listing requirement of 300 public publishes the reasons for such
Reference Room, 100 F Street NE, stockholders completely, to require at determination. The proposed rule
Washington, DC 20549 on official least $5 million in net tangible assets for change was published for notice and
business days between the hours of initial listing and continued listing, and comment in the Federal Register on
10:00 a.m. and 3:00 p.m. Copies of such to allow companies 30 days to December 6, 2017. June 4, 2018 is 180
filing also will be available for demonstrate compliance with the days from that date, and August 3, 2018
inspection and copying at the principal applicable holder requirements of is 240 days from that date. The
office of the Exchange. All comments Section 102.01A in the Listed Company Commission finds it appropriate to
received will be posted without change. Manual following a business designate a longer period within which
Persons submitting comments are combination. Finally, NYSE proposes to to issue an order approving or
cautioned that we do not redact or edit eliminate certain alternative initial disapproving the proposed rule change
personal identifying information from listing distribution criteria for SPACs so that it has sufficient time to consider
comment submissions. You should that list in connection with a transfer or the proposed rule change and the
submit only information that you wish quotation. The proposed rule change comment letters. Accordingly, the
to make available publicly. All was published for comment in the Commission, pursuant to Section
submissions should refer to File Federal Register on December 6, 2017.4 19(b)(2) of the Act,10 designates August
Number SR–NYSEArca–2018–37, and In response, the Commission received 3, 2018, as the date by which the
should be submitted on or before June two comments on the proposal.5 On Commission shall either approve or
27, 2018. January 18, 2018, the Commission disapprove the proposed rule change
extended the time period within which (File No. SR–NYSE–2017–53).
For the Commission, by the Division of
to approve the proposed rule change, For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11 disapprove the proposed rule change, or Trading and Markets, pursuant to delegated
institute proceedings to determine authority.11
Eduardo A. Aleman,
whether to approve or disapprove the Eduardo A. Aleman,
Assistant Secretary. proposed rule change to March 6, 2018.6 Assistant Secretary.
[FR Doc. 2018–12112 Filed 6–5–18; 8:45 am] The Commission issued an order [FR Doc. 2018–12113 Filed 6–5–18; 8:45 am]
BILLING CODE 8011–01–P instituting proceedings under Section BILLING CODE 8011–01–P
19(b)(2)(B) of the Act to determine
whether to approve or disapprove the
SECURITIES AND EXCHANGE proposed rule change on March 5, 2018
COMMISSION SECURITIES AND EXCHANGE
(‘‘OIP’’).7 The Commission received one COMMISSION
[Release No. 34–83355; File No. SR–NYSE– additional comment letter in response to
2017–53] the OIP.8 [Release No. 34–83361]
Section 19(b)(2) of the Act 9 provides
Self-Regulatory Organizations; New that, after initiating disapproval Order Cancelling Registrations of
York Stock Exchange LLC; Notice of proceedings, the Commission shall issue Certain Transfer Agents
Designation of a Longer Period for an order approving or disapproving the June 1, 2018.
Commission Action on a Proposed proposed rule change not later than 180 On December 22, 2017, notice was
Rule Change To Amend the Listed published in the Federal Register that
1 15 U.S.C. 78s(b)(1).
Company Manual for Special Purpose the Securities and Exchange
2 17 CFR 240.19b–4.
Acquisition Companies To Lower the Commission (‘‘Commission’’) intended
3 The Commission notes that throughout this
Initial Holders Requirement From 300 Notice we have used the term ‘‘SPAC’’ or ‘‘SPACs.’’ to issue an order, pursuant to Section
to 150 Round Lot Holders and To These terms have the same meaning as an 17A(c)(4)(B) of the Securities Exchange
Eliminate Completely the 300 Public ‘‘Acquisition Company’’ or ‘‘AC’’ which is the term Act of 1934 (‘‘Act’’),1 cancelling the
Stockholders Continued Listing used by NYSE in its current proposed rule filing registrations of certain transfer agents.2
and rule text.
Requirement, To Require at Least $5 4 See Securities Exchange Act Release No. 82180
For the reasons discussed below, the
Million in Net Tangible Assets for Initial (November 30, 2017), 82 FR 57632 (December 6, Commission is cancelling the
and Continued Listing, and To Impose 2017) (‘‘Notice’’). registration of the transfer agents
a 30-Day Deadline To Demonstrate 5 See Letters to Brent J. Fields, Secretary, identified in the attached Appendix.
Compliance With Certain Initial Listing Commission, from Michael Kitlas, dated November
FOR FURTHER INFORMATION CONTACT:
30, 2017 (‘‘Kitlas Letter’’) and Jeffrey P. Mahoney,
Requirements Following a Business General Counsel, Council of Institutional Investors, Moshe Rothman, Assistant Director, or
Combination dated December 20, 2017 (‘‘CII Letter’’). Catherine Whiting, Special Counsel, at
May 31, 2018.
6 See Securities Exchange Act Release No. 82531
(202) 551–4990, U.S. Securities and
(January 18, 2018), 83 FR 3371 (January 24, 2018)
daltland on DSKBBV9HB2PROD with NOTICES

Exchange Commission, Division of
On November 16, 2017, New York (‘‘Extension’’).
Trading and Markets, Room 7321 SP1,
Stock Exchange LLC (‘‘NYSE’’ or 7 See Securities Exchange Act Release No. 82804

‘‘Exchange’’) filed with the Securities (March 5, 2018), 83 FR 10530 (March 9, 2018).
8 See Letters to Brent J. Fields, Secretary, 10 Id.
and Exchange Commission Commission, from Jeffrey P. Mahoney, General 11 17 CFR 200.30–3(a)(31).
(‘‘Commission’’), pursuant to Section Counsel, Council of Institutional Investors, dated 1 15 U.S.C. 78q–1(c)(4)(B).
March 26, 2018 (‘‘CII Letter II’’). 2 Securities Exchange Act Release No. 34–82342
11 17 CFR 200.30–3(a)(12). 9 15 U.S.C. 78s(b)(2). (Dec. 18, 2017), 82 FR 60778.

VerDate Sep<11>2014 17:35 Jun 05, 2018 Jkt 244001 PO 00000 Frm 00080 Fmt 4703 Sfmt 4703 E:\FR\FM\06JNN1.SGM 06JNN1
Document Created: 2018-06-06 00:53:51
Document Modified: 2018-06-06 00:53:51
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		83 FR 26329