83_FR_31958 83 FR 31827 - Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade the Shares of the Western Asset Total Return ETF

83 FR 31827 - Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade the Shares of the Western Asset Total Return ETF

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 131 (July 9, 2018)

Page Range31827-31828
FR Document2018-14667

Federal Register, Volume 83 Issue 131 (Monday, July 9, 2018) 
[Federal Register Volume 83, Number 131 (Monday, July 9, 2018)]
[Notices]
[Pages 31827-31828]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-14667]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83588; File No. SR-NASDAQ-2017-128]


Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Change To List and Trade the Shares of the Western Asset Total 
Return ETF

July 3, 2018.
    On December 20, 2017, The Nasdaq Stock Market LLC (``Nasdaq'') 
filed with the Securities and Exchange Commission (``Commission''), 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to 
list and trade shares of the Western Asset Total Return ETF, a series 
of Legg Mason ETF Investment Trust, under Nasdaq Rule 5735. The 
proposed rule change was published for comment in the Federal Register 
on January 9, 2018.\3\ The Commission has received no comments on the 
proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 82439 (Jan. 3, 
2018), 83 FR 1062.
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    On February 21, 2018, pursuant to Section 19(b)(2) of the Act,\4\ 
the Commission designated a longer period within which to approve the 
proposed rule change, disapprove the proposed rule change, or institute 
proceedings to determine whether to disapprove the proposed rule 
change.\5\ On April 6, 2018, the Commission instituted proceedings 
under Section 19(b)(2)(B) of the Act \6\ to determine whether to 
approve or disapprove the proposed rule change.\7\ The Commission has 
received no comments on the proposed rule change.
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 82757, 83 FR 8532 
(Feb. 27, 2018).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 83007, 83 FR 15883 
(Apr. 12, 2018).
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    Section 19(b)(2) of the Act \8\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180

[[Page 31828]]

days after the date of publication of notice of filing of the proposed 
rule change. The Commission may extend the period for issuing an order 
approving or disapproving the proposed rule change by not more than 60 
days if the Commission determines that a longer period is appropriate 
and publishes the reasons for such determination. As noted earlier, the 
proposed rule change was published for notice and comment in the 
Federal Register on January 9, 2018. July 8, 2018, is 180 days from 
that date, and September 6, 2018, is 240 days from that date.
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    \8\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider this proposed 
rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\9\ designates September 6, 2018, as the date by which the 
Commission should either approve or disapprove the proposed rule change 
(File Number SR-NASDAQ-2017-128).
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    \9\ Id.
    \10\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-14667 Filed 7-6-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 131 / Monday, July 9, 2018 / Notices 31827 • Send an email to rule-comments@ Commission, Office of FOIA Services, Dated: July 3, 2018. sec.gov. Please include File Number SR– 100 F Street NE, Washington, DC Eduardo A. Aleman, CBOE–2018–050 on the subject line. 20549–2736 Assistant Secretary. Paper Comments Extension: [FR Doc. 2018–14654 Filed 7–6–18; 8:45 am] • Send paper comments in triplicate Form SE, SEC File No. 270–289, OMB BILLING CODE 8011–01–P to Secretary, Securities and Exchange Control No. 3235–0327 Commission, 100 F Street NE, Notice is hereby given that, pursuant SECURITIES AND EXCHANGE Washington, DC 20549–1090. to the Paperwork Reduction Act of 1995 COMMISSION All submissions should refer to File (44 U.S.C. 3501 et seq.), the Securities Number SR–CBOE-2018–050. This file [Release No. 34–83588; File No. SR– and Exchange Commission NASDAQ–2017–128] number should be included on the (‘‘Commission’’) is soliciting comments subject line if email is used. To help the on the collection of information Self-Regulatory Organizations; The Commission process and review your summarized below. The Commission Nasdaq Stock Market LLC; Notice of comments more efficiently, please use plans to submit this existing collection Designation of a Longer Period for only one method. The Commission will of information to the Office of Commission Action on Proceedings To post all comments on the Commission’s Determine Whether To Approve or Management and Budget for extension internet website (http://www.sec.gov/ Disapprove a Proposed Rule Change and approval. rules/sro.shtml). Copies of the To List and Trade the Shares of the submission, all subsequent Form SE (17 CFR 239.64) is used by Western Asset Total Return ETF amendments, all written statements registrants to file paper copies of with respect to the proposed rule exhibits, reports or other documents July 3, 2018. change that are filed with the that would be difficult or impossible to On December 20, 2017, The Nasdaq Commission, and all written submit electronically, as provided in Stock Market LLC (‘‘Nasdaq’’) filed with communications relating to the Rule 311 of Regulation S–T (17 CFR the Securities and Exchange proposed rule change between the 232.311). The information contained in Commission (‘‘Commission’’), pursuant Commission and any person, other than Form SE is used by the Commission to to Section 19(b)(1) of the Securities those that may be withheld from the identify paper copies of exhibits. Form Exchange Act of 1934 (‘‘Act’’) 1 and Rule public in accordance with the SE is filed by individuals, companies or 19b–4 thereunder,2 a proposed rule provisions of 5 U.S.C. 552, will be other entities that are required to file change to list and trade shares of the available for website viewing and documents electronically. Western Asset Total Return ETF, a printing in the Commission’s Public Approximately 19 registrants file Form series of Legg Mason ETF Investment Reference Room, 100 F Street NE, SE and it takes an estimated 0.10 hours Trust, under Nasdaq Rule 5735. The Washington, DC 20549 on official per response for a total annual burden proposed rule change was published for business days between the hours of of 2 hours (0.10 hours per response × 19 comment in the Federal Register on 10:00 a.m. and 3:00 p.m. Copies of the responses). January 9, 2018.3 The Commission has filing also will be available for received no comments on the proposed Written comments are invited on: (a) inspection and copying at the principal rule change. Whether the proposed collection of On February 21, 2018, pursuant to office of the Exchange. All comments information is necessary for the proper Section 19(b)(2) of the Act,4 the received will be posted without change. performance of the functions of the Commission designated a longer period Persons submitting comments are cautioned that we do not redact or edit agency, including whether the within which to approve the proposed personal identifying information from information will have practical utility; rule change, disapprove the proposed comment submissions. You should (b) the accuracy of the agency’s estimate rule change, or institute proceedings to submit only information that you wish of the burden imposed by the collection determine whether to disapprove the to make available publicly. All of information; (c) ways to enhance the proposed rule change.5 On April 6, submissions should refer to File quality, utility, and clarity of the 2018, the Commission instituted Number SR–CBOE–2018–050 and information collected; and (d) ways to proceedings under Section 19(b)(2)(B) of should be submitted on or before July minimize the burden of the collection of the Act 6 to determine whether to 30, 2018. information on respondents, including approve or disapprove the proposed through the use of automated collection rule change.7 The Commission has For the Commission, by the Division of techniques or other forms of information Trading and Markets, pursuant to delegated received no comments on the proposed authority.12 technology. Consideration will be given rule change. to comments and suggestions submitted Section 19(b)(2) of the Act 8 provides Eduardo A. Aleman, in writing within 60 days of this that, after initiating disapproval Assistant Secretary. publication. proceedings, the Commission shall issue [FR Doc. 2018–14550 Filed 7–6–18; 8:45 am] An agency may not conduct or an order approving or disapproving the BILLING CODE P sponsor, and a person is not required to proposed rule change not later than 180 respond to, a collection of information 1 15 U.S.C. 78s(b)(1). SECURITIES AND EXCHANGE unless it displays a currently valid 2 17 CFR 240.19b–4. COMMISSION control number. sradovich on DSK3GMQ082PROD with NOTICES 3 See Securities Exchange Act Release No. 82439 Please direct your written comment to (Jan. 3, 2018), 83 FR 1062. Proposed Collection; Comment Pamela Dyson, Director/Chief 4 15 U.S.C. 78s(b)(2). Request Information Officer, Securities and 5 See Securities Exchange Act Release No. 82757, 83 FR 8532 (Feb. 27, 2018). Upon Written Request Copies Available Exchange Commission, c/o Candace 6 15 U.S.C. 78s(b)(2)(B). From: Securities and Exchange Kenner, 100 F Street NE, Washington, 7 See Securities Exchange Act Release No. 83007, DC 20549 or send an email to: PRA_ 83 FR 15883 (Apr. 12, 2018). 12 17 CFR 200.30–3(a)(12). Mailbox@sec.gov. 8 15 U.S.C. 78s(b)(2). VerDate Sep<11>2014 18:00 Jul 06, 2018 Jkt 244001 PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 E:\FR\FM\09JYN1.SGM 09JYN1

31828 Federal Register / Vol. 83, No. 131 / Monday, July 9, 2018 / Notices days after the date of publication of Commission is publishing this notice to combination. After informal discussions notice of filing of the proposed rule solicit comments on the proposed rule with various market participants, the change. The Commission may extend change from interested persons. Exchange is proposing to provide more the period for issuing an order clarity to market participants regarding I. Self-Regulatory Organization’s approving or disapproving the proposed the fees assessed for executions on the Statement of the Terms of Substance of rule change by not more than 60 days Exchange by amending the structure of the Proposed Rule Change if the Commission determines that a its Fee Schedule to explicitly provide longer period is appropriate and Pursuant to the provisions of Section each possible Fee Code combination, publishes the reasons for such 19(b)(1) under the Securities Exchange along with the associated fee applicable determination. As noted earlier, the Act of 1934 (‘‘Act’’),4 and Rule 19b–4 to such transaction. The Exchange is proposed rule change was published for thereunder,5 Investors Exchange LLC also proposing to make several minor notice and comment in the Federal (‘‘IEX’’ or ‘‘Exchange’’) is filing with the substantive changes to the Fee Schedule Register on January 9, 2018. July 8, Securities and Exchange Commission and related rules to enhance the 2018, is 180 days from that date, and (‘‘Commission’’) a proposed rule change consistency and clarity of the September 6, 2018, is 240 days from that to modify the structure of its Fee Exchange’s Fee Schedule. date. Schedule and make several conforming The Commission finds it appropriate and clarifying changes, pursuant to IEX Existing Fee Schedule to designate a longer period within Rule 15.110(a) and (c), in order to In an effort to incentivize Members 6 which to issue an order approving or provide more clarity to market to submit displayed orders to the disapproving the proposed rule change participants regarding the fees assessed Exchange, the Exchange currently so that it has sufficient time to consider for executions on the Exchange. charges a fee of $0.0003 per share (or this proposed rule change. Accordingly, Changes to the Fee Schedule pursuant 0.30% of the total dollar value of the the Commission, pursuant to Section to this proposal are effective upon filing transaction for securities priced below 19(b)(2) of the Act,9 designates and will be operative on July 1, 2018. $1.00) to Members for executions on IEX September 6, 2018, as the date by which The text of the proposed rule change that provide or take resting interest with the Commission should either approve is available at the Exchange’s website at displayed priority (i.e., an order or or disapprove the proposed rule change www.iextrading.com, at the principal portion of a reserve order that is booked (File Number SR–NASDAQ–2017–128). office of the Exchange, and at the and ranked with display priority on the Commission’s Public Reference Room. Order Book).7 Furthermore, the For the Commission, by the Division of Trading and Markets, pursuant to delegated II. Self-Regulatory Organization’s Exchange currently charges $0.0009 per authority.10 Statement of the Purpose of, and share (or 0.30% of the total dollar value Eduardo A. Aleman, Statutory Basis for, the Proposed Rule of the transaction for securities priced Assistant Secretary. Change below $1.00) to Members for executions [FR Doc. 2018–14667 Filed 7–6–18; 8:45 am] on IEX that provide or take resting In its filing with the Commission, the interest with non-displayed priority BILLING CODE 8011–01–P self-regulatory organization included (i.e., an order or portion of a reserve statements concerning the purpose of and basis for the proposed rule change order that is booked and ranked with SECURITIES AND EXCHANGE and discussed any comments it received non-displayed priority on the Order COMMISSION on the proposed rule change. The text Book).8 Moreover, in order to reduce the [Release No. 34–83582; File No. SR–IEX– of these statement may be examined at variability in fees to access liquidity on 2018–11] the places specified in Item IV below. the Exchange and thereby incentivize The self-regulatory organization has Self-Regulatory Organizations; Members to route more orders to the prepared summaries, set forth in Investors Exchange LLC; Notice of Exchange that are executable at the far Sections A, B, and C below, of the most Filing and Immediate Effectiveness of significant aspects of such statements. side of the NBBO,9 the Exchange Proposed Rule Change To Modify the assesses a deterministic Spread-Crossing Structure of its Fee Schedule and Make A. Self-Regulatory Organization’s Remove Fee of $0.0003 per share to all Several Conforming and Clarifying Statement of the Purpose of, and the executions at or above $1.00 that result Statutory Basis for, the Proposed Rule from removing liquidity with a buy Changes, Pursuant to IEX Rule Change (sell) order that is executable at the NBO 15.110(A) and (C) 1. Purpose (NBB).10 The Exchange does not charge July 2, 2018. Pursuant to Section 19(b)(1) 1 of the The Exchange proposes to modify the 6 See Rule 1.160(s). Securities Exchange Act of 1934 (the structure of its Fee Schedule and make 7 This pricing is referred to by the Exchange as ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 minor conforming changes, pursuant to ‘‘Displayed Match Fee’’ with a Fee Code of ‘L’ IEX Rule 15.110(a) and (c), in order to provided by the Exchange on execution reports. See notice is hereby given that, on June 29, the Investors Exchange Fee Schedule, available on 2018, the Investors Exchange LLC provide more clarity to market the Exchange public website. (‘‘IEX’’ or the ‘‘Exchange’’) filed with the participants regarding the fees assessed 8 This pricing is referred to by the Exchange as Securities and Exchange Commission for executions on the Exchange. The the ‘‘Non-Displayed Match Fee’’ with a Fee Code of Exchange’s existing Fee Schedule ‘I’ provided by the Exchange on execution reports. (the ‘‘Commission’’) the proposed rule See the Investors Exchange Fee Schedule, available change as described in Items I, II and III requires market participants to on the Exchange public website. sradovich on DSK3GMQ082PROD with NOTICES below, which Items have been prepared determine which of the Exchange’s Fee 9 As defined by Regulation NMS Rule 600(b)(42). by the self-regulatory organization. The Codes are applicable to any given 17 CFR 242.600. transaction, and then calculate the 10 This pricing is referred to by the Exchange as 9 Id. applicable fee that will be assessed the ‘‘Spread-Crossing Remove Fee’’, with a Fee Code of ‘‘N’’ provided by the Exchange on 10 17 CFR 200.30–3(a)(57). depending on the applicable Fee Code execution reports. See the Investors Exchange Fee 1 15 U.S.C. 78s(b)(1). Schedule, available on the Exchange public 2 15 U.S.C. 78a. 4 15 U.S.C. 78s(b)(1). website. The Exchange notes that if an order—based 3 17 CFR 240.19b–4. 5 17 CFR 240.19b–4. on market conditions, User instructions, applicable VerDate Sep<11>2014 18:00 Jul 06, 2018 Jkt 244001 PO 00000 Frm 00114 Fmt 4703 Sfmt 4703 E:\FR\FM\09JYN1.SGM 09JYN1


Document Created: 2018-07-07 00:42:14
Document Modified: 2018-07-07 00:42:14
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation83 FR 31827 
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