83 FR 49143 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend NYSE Rule 104 Governing Transactions by Designated Market Makers

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 189 (September 28, 2018)

Page Range		49143-49144
FR Document		2018-21108

Federal Register, Volume 83 Issue 189 (Friday, September 28, 2018)

[Federal Register Volume 83, Number 189 (Friday, September 28, 2018)]
[Notices]
[Pages 49143-49144]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-21108]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84276; File No. SR-NYSE-2018-34]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change To Amend NYSE Rule 104 Governing Transactions by 
Designated Market Makers

September 24, 2018.
    On July 31, 2018, New York Stock Exchange LLC (``NYSE'') 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 amend NYSE Rule 
104 governing transactions by designated market makers. The proposed 
rule change was published for comment in the Federal Register on August 
16, 2018.\3\ The

[[Page 49144]]

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. 83821 (Aug. 10, 
2018), 83 FR 40808 (Aug. 16, 2018).
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    Section 19(b)(2) of the Act \4\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this proposed rule change 
is September 30, 2018. The Commission is extending this 45-day time 
period.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is appropriate to designate a longer 
period within which to take action on the proposed rule change so that 
it has sufficient time to consider the proposed rule change. 
Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\5\ designates November 14, 2018, as the date by which the 
Commission shall either approve or disapprove, or institute proceedings 
to determine whether to disapprove, the proposed rule change (File No. 
SR-NYSE-2018-34).
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    \5\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-21108 Filed 9-27-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 189 / Friday, September 28, 2018 / Notices 49143

19(b)(2)(B) of the Act 18 to determine persons concerning whether the communications relating to the
whether the proposed rule change proposal is consistent with Section proposed rule change between the
should be approved or disapproved. 6(b)(5) or any other provision of the Act, Commission and any person, other than
Institution of such proceedings is or the rules and regulations thereunder. those that may be withheld from the
appropriate at this time in view of the Although there do not appear to be any public in accordance with the
legal and policy issues raised by the issues relevant to approval or provisions of 5 U.S.C. 552, will be
proposed rule change. Institution of disapproval that would be facilitated by available for website viewing and
proceedings does not indicate that the an oral presentation of views, data, and printing in the Commission’s Public
Commission has reached any arguments, the Commission will Reference Room, 100 F Street NE,
conclusions with respect to any of the consider, pursuant to Rule 19b–4, any Washington, DC 20549 on official
issues involved. Rather, as described request for an opportunity to make an business days between the hours of
below, the Commission seeks and oral presentation.21 10:00 a.m. and 3:00 p.m. Copies of the
encourages interested persons to Interested persons are invited to filing also will be available for
provide comments on the proposed rule submit written data, views, and inspection and copying at the principal
change. arguments regarding whether the office of the Exchange. All comments
Pursuant to Section 19(b)(2)(B) of the proposal should be approved or received will be posted without change.
Act,19 the Commission is providing disapproved by October 19, 2018. Any Persons submitting comments are
notice of the grounds for disapproval person who wishes to file a rebuttal to cautioned that we do not redact or edit
under consideration. The Commission is any other person’s submission must file personal identifying information from
instituting proceedings to allow for that rebuttal by November 2, 2018. The comment submissions. You should
additional analysis of the proposed rule Commission asks that commenters submit only information that you wish
change’s consistency with Section address the sufficiency of the to make available publicly. All
6(b)(5) of the Act, which requires, Exchange’s statements in support of the submissions should refer to File
among other things, that the rules of a proposal, which are set forth in the Number SR–NYSEArca–2018–40 and
national securities exchange be Notice,22 in addition to any other should be submitted by October 19,
‘‘designed to prevent fraudulent and comments they may wish to submit 2018. Rebuttal comments should be
manipulative acts and practices, to about the proposed rule change. submitted by November 2, 2018.
promote just and equitable principles of Comments may be submitted by any
For the Commission, by the Division of
trade,’’ and ‘‘to protect investors and the of the following methods:
Trading and Markets, pursuant to delegated
public interest.’’ 20 authority.23
Electronic Comments
According to the Exchange, the Fund,
through its Subsidiary, may invest up to • Use the Commission’s internet Eduardo A. Aleman,
15% of its total assets in OTC shares of comment form (http://www.sec.gov/ Assistant Secretary.
GBTC. In addition, the Exchange rules/sro.shtml); or [FR Doc. 2018–21107 Filed 9–27–18; 8:45 am]
represents that the liquid market in the • Send an email to rule-comments@ BILLING CODE 8011–01–P
shares of GBTC alleviates valuation sec.gov. Please include File Number SR–
concerns, and that the substantial and NYSEArca–2018–40 on the subject line.
sustained trading volume in shares of SECURITIES AND EXCHANGE
Paper Comments COMMISSION
GBTC would help to limit any adverse
effect on the Fund’s arbitrage • Send paper comments in triplicate
mechanism. What are commenters’ to Secretary, Securities and Exchange [Release No. 34–84276; File No. SR–NYSE–
Commission, 100 F Street NE, 2018–34]
views on the Exchange’s assertions that
the liquid market in the shares of GBTC Washington, DC 20549–1090.
All submissions should refer to File Self-Regulatory Organizations; New
alleviates valuation and arbitrage York Stock Exchange LLC; Notice of
concerns? What are commenters’ views Number SR–NYSEArca–2018–40. This
file number should be included on the Designation of a Longer Period for
on whether any premium or discount in Commission Action on a Proposed
the market price of GBTC compared to subject line if email is used. To help the
Commission process and review your Rule Change To Amend NYSE Rule 104
the value of its portfolio assets would Governing Transactions by Designated
affect valuation and arbitrage concerns? comments more efficiently, please use
only one method. The Commission will Market Makers
What are commenters’ views, generally,
on whether exposure to spot bitcoin post all comments on the Commission’s September 24, 2018.
markets through investment in GBTC internet website (http://www.sec.gov/ On July 31, 2018, New York Stock
would render the Shares of the Fund rules/sro.shtml). Copies of the Exchange LLC (‘‘NYSE’’) filed with the
susceptible to manipulation? submission, all subsequent Securities and Exchange Commission
amendments, all written statements (‘‘Commission’’) pursuant to Section
III. Procedure: Request for Written with respect to the proposed rule 19(b)(1) of the Securities Exchange Act
Comments change that are filed with the of 1934 (‘‘Act’’) 1 and Rule 19b–4
The Commission requests that Commission, and all written thereunder,2 a proposed rule change to
interested persons provide written amend NYSE Rule 104 governing
21 Section 19(b)(2) of the Act, as amended by the
submissions of their views, data, and transactions by designated market
Securities Act Amendments of 1975, Public Law
arguments with respect to the issues 94–29 (June 4, 1975), grants the Commission makers. The proposed rule change was
identified above, as well as any other
amozie on DSK3GDR082PROD with NOTICES1

flexibility to determine what type of proceeding— published for comment in the Federal
concerns they may have with the either oral or notice and opportunity for written Register on August 16, 2018.3 The
proposal. In particular, the Commission comments—is appropriate for consideration of a
particular proposal by a self-regulatory
invites the written views of interested organization. See Securities Act Amendments of
23 17 CFR 200.30–3(a)(57).
1 15 U.S.C. 78s(b)(1).
1975, Senate Comm. on Banking, Housing & Urban
18 15 U.S.C. 78s(b)(2)(B). Affairs, S. Rep. No. 75, 94th Cong., 1st Sess. 30 2 17 CFR 240.19b–4.
19 Id. (1975). 3 See Securities Exchange Act Release No. 83821
20 15 U.S.C. 78f(b)(5). 22 See Notice, supra note 3. (Aug. 10, 2018), 83 FR 40808 (Aug. 16, 2018).

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49144 Federal Register / Vol. 83, No. 189 / Friday, September 28, 2018 / Notices

Commission has received no comments Inc. (the ‘‘Exchange’’ or ‘‘Cboe administration of the Exchange and do
on the proposed rule change. Options’’) filed with the Securities and not affect the meaning, administration,
Section 19(b)(2) of the Act 4 provides Exchange Commission (the or enforcement of any rules of the
that within 45 days of the publication of ‘‘Commission’’) the proposed rule Exchange or the rights, obligations, or
notice of the filing of a proposed rule change as described in Items I, II, and privileges of Exchange members or their
change, or within such longer period up III below, which Items have been associated persons is any way.
to 90 days as the Commission may prepared by the Exchange. The
designate if it finds such longer period Commission is publishing this notice to 2. Statutory Basis
to be appropriate and publishes its solicit comments on the proposed rule
reasons for so finding or as to which the The Exchange believes the proposed
change from interested persons.
self-regulatory organization consents, rule change is consistent with the
the Commission shall either approve the I. Self-Regulatory Organization’s Securities Exchange Act of 1934 (the
proposed rule change, disapprove the Statement of the Terms of Substance of ‘‘Act’’) and the rules and regulations
proposed rule change, or institute the Proposed Rule Change thereunder applicable to the Exchange
proceedings to determine whether the The Exchange proposes to rename the and, in particular, the requirements of
proposed rule change should be ‘‘Extended Trading Hours’’ to ‘‘Global Section 6(b) of the Act.4 Specifically,
disapproved. The 45th day after Trading Hours’’ in its rules and Fees the Exchange believes the proposed rule
publication of the notice for this Schedule. change is consistent with Section 6(b)(4)
proposed rule change is September 30, The text of the proposed rule change of the Act10,5 which provides that
2018. The Commission is extending this is also available on the Exchange’s Exchange rules may provide for the
45-day time period. website (http://www.cboe.com/ equitable allocation of reasonable dues,
The Commission finds that it is AboutCBOE/CBOELegalRegula fees, and other charges among its Permit
appropriate to designate a longer period toryHome.aspx), at the Exchange’s Holders and other persons using its
within which to take action on the Office of the Secretary, and at the facilities. Additionally, the Exchange
proposed rule change so that it has Commission’s Public Reference Room. believes the proposed rule change is
sufficient time to consider the proposed consistent with the Section 6(b)(5) 6
rule change. Accordingly, the II. Self-Regulatory Organization’s
requirement that the rules of an
Commission, pursuant to Section Statement of the Purpose of, and
exchange not be designed to permit
19(b)(2) of the Act,5 designates Statutory Basis for, the Proposed Rule
unfair discrimination between
November 14, 2018, as the date by Change
customers, issuers, brokers, or dealers.
which the Commission shall either In its filing with the Commission, the
In particular, the proposed change is
approve or disapprove, or institute Exchange included statements
a non-substantive change and does not
proceedings to determine whether to concerning the purpose of and basis for
impact the governance, ownership or
disapprove, the proposed rule change the proposed rule change and discussed
any comments it received on the operations of the Exchange. The
(File No. SR–NYSE–2018–34).
proposed rule change. The text of these Exchange believes that by ensuring that
For the Commission, by the Division of its rules and Fees Schedule reflect the
Trading and Markets, pursuant to delegated statements may be examined at the
places specified in Item IV below. The new branding name for the Extended
authority.6
Exchange has prepared summaries, set Trading Hours session, the proposed
Eduardo A. Aleman,
forth in sections A, B, and C below, of rule change would reduce potential
Assistant Secretary. investor or market participant
[FR Doc. 2018–21108 Filed 9–27–18; 8:45 am]
the most significant aspects of such
statements. confusion.
BILLING CODE 8011–01–P
A. Self-Regulatory Organization’s B. Self-Regulatory Organization’s
Statement of the Purpose of, and Statement on Burden on Competition
SECURITIES AND EXCHANGE Statutory Basis for, the Proposed Rule
COMMISSION The Exchange does not believe that
Change
the proposed rule change will impose
[Release No. 34–84274; File No. SR–CBOE– 1. Purpose any burden on competition that is not
2018–063]
The purpose of this filing is to reflect necessary or appropriate in furtherance
Self-Regulatory Organizations; Cboe in the Exchange’s rulebook and Fees of the purposes of the Act. The
Exchange, Inc.; Notice of Filing and Schedule, a non-substantive branding proposed rule change does not address
Immediate Effectiveness of a Proposed change with respect to the Exchange’s competitive issues, but rather is
Rule Change Relating To Rename the ‘‘Extended Trading Hours’’ session.3 concerned solely with updating the
‘‘Extended Trading Hours’’ to ‘‘Global Particularly, references to ‘‘Extended Exchange’s rules and Fees Schedule to
Trading Hours’’ in Its Rules and Fees Trading Hours’’ or ‘‘ETH’’ will be reflect the abovementioned name
Schedule deleted and revised to state the new change.
session name of ‘‘Global Trading Hours’’ C. Self-Regulatory Organization’s
September 24, 2018.
or ‘‘GTH’’, respectively, throughout the Statement on Comments on the
Pursuant to Section 19(b)(1) of the Exchange’s rulebook and Fees Schedule.
Securities Exchange Act of 1934 (the Proposed Rule Change Received From
No other substantive changes are being
‘‘Act’’),1 and Rule 19b–4 thereunder,2 Members, Participants, or Others
proposed in this filing. The Exchange
amozie on DSK3GDR082PROD with NOTICES1

notice is hereby given that on represents that these changes are
September 18, 2018, Cboe Exchange, The Exchange neither solicited nor
concerned solely with the received comments on the proposed
4 15 U.S.C. 78s(b)(2). rule change.
3 The ‘‘Extended Trading Hours’’ session refers to
5 Id.
the hours outside of Regular Trading Hours during
6 17 CFR 200.30–3(a)(31). 4 15 U.S.C. 78f(b).
which the Exchange may be open for trading as set
1 15 U.S.C. 78s(b)(1). 5 15 U.S.C. 78f(b)(4).
forth in Rule 6.1 and may be referred to as a
2 17 CFR 240.19b–4. ‘‘trading session’’ in the Rules. 6 15 U.S.C. 78f(b)(5).

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Document Created: 2018-09-28 01:23:10
Document Modified: 2018-09-28 01:23:10

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 49143