83_FR_60746 83 FR 60519 - Self-Regulatory Organizations; NYSE American LLC; Notice of Designation of Longer Period for Commission Action on a Proposed Rule Change To Allow Flexible Exchange Equity Options Where the Underlying Security Is an Exchange-Traded Fund That Is Included in the Option Penny Pilot To Be Settled in Cash

83 FR 60519 - Self-Regulatory Organizations; NYSE American LLC; Notice of Designation of Longer Period for Commission Action on a Proposed Rule Change To Allow Flexible Exchange Equity Options Where the Underlying Security Is an Exchange-Traded Fund That Is Included in the Option Penny Pilot To Be Settled in Cash

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 227 (November 26, 2018)

Page Range60519-60520
FR Document2018-25595

Federal Register, Volume 83 Issue 227 (Monday, November 26, 2018) 
[Federal Register Volume 83, Number 227 (Monday, November 26, 2018)]
[Notices]
[Pages 60519-60520]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-25595]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84616; File No. SR-NYSEAMER-2018-39]


Self-Regulatory Organizations; NYSE American LLC; Notice of 
Designation of Longer Period for Commission Action on a Proposed Rule 
Change To Allow Flexible Exchange Equity Options Where the Underlying 
Security Is an Exchange-Traded Fund That Is Included in the Option 
Penny Pilot To Be Settled in Cash

November 19, 2018.
    On September 20, 2018, NYSE American LLC (``NYSE American'' or the 
``Exchange'') 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 modify the rules related to Flexible Exchange 
(``FLEX'') Options to allow FLEX Equity Options where the underlying 
security is an Exchange-Traded Fund that is included in the Option 
Penny Pilot to be settled in cash. The proposed rule change was 
published for comment in the Federal

[[Page 60520]]

Register on October 11, 2018.\3\ No comments have been received on the 
proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 84364 (October 4, 
2018), 83 FR 51535 (October 11, 2018).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \4\ provides that, within 45 days of 
the publication of the 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 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 November 25, 2018. The Commission is extending this 45-day 
time period.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    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 January 9, 2019, as the date by which the Commission 
should approve, disapprove, or institute proceedings to determine 
whether to disapprove the proposed rule change (File No. SR-NYSEAMER-
2018-39).
---------------------------------------------------------------------------

    \5\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
Eduardo A. Aleman,
Assistant Secretary.
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

[FR Doc. 2018-25595 Filed 11-23-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 227 / Monday, November 26, 2018 / Notices 60519 C. Self-Regulatory Organization’s of the Exchange that are also Commission and any person, other than Statement on Comments on the participants on Cboe Affiliated those that may be withheld from the Proposed Rule Change Received From Exchanges. The Commission believes public in accordance with the Members, Participants, or Others that waiver of the 30-day operative provisions of 5 U.S.C. 552, will be The Exchange neither solicited nor delay is consistent with the protection available for website viewing and received comments on the proposed of investors and the public interest. printing in the Commission’s Public rule change. Therefore, the Commission hereby Reference Room, 100 F Street NE, waives the 30-day operative delay and Washington, DC 20549 on official III. Date of Effectiveness of the designates the proposed rule change as business days between the hours of Proposed Rule Change and Timing for operative on November 29, 2018.19 10:00 a.m. and 3:00 p.m. Copies of the Commission Action At any time within 60 days of the filing also will be available for Because the proposed rule change filing of the proposed rule change, the inspection and copying at the principal does not (i) significantly affect the Commission summarily may office of the Exchange. All comments protection of investors or the public temporarily suspend such rule change if received will be posted without change. interest; (ii) impose any significant it appears to the Commission that such Persons submitting comments are burden on competition; and (iii) become action is necessary or appropriate in the cautioned that we do not redact or edit operative for 30 days from the date on public interest, for the protection of personal identifying information from which it was filed, or such shorter time investors, or otherwise in furtherance of comment submissions. All submissions as the Commission may designate, it has the purposes of the Act. If the should refer to File Number SR–C2– become effective pursuant to Section Commission takes such action, the 2018–023 and should be submitted on 19(b)(3)(A) of the Act 15 and Rule 19b– Commission shall institute proceedings or before December 17, 2018. 4(f)(6) thereunder.16 to determine whether the proposed rule A proposed rule change filed under change should be approved or For the Commission, by the Division of Rule 19b–4(f)(6) 17 normally does not disapproved. Trading and Markets, pursuant to delegated authority.20 become operative prior to 30 days after IV. Solicitation of Comments the date of the filing. However, Rule Eduardo A. Aleman, 19b–4(f)(6)(iii) 18 permits the Interested persons are invited to Assistant Secretary. submit written data, views, and Commission to designate a shorter time [FR Doc. 2018–25739 Filed 11–23–18; 8:45 am] arguments concerning the foregoing, if such action is consistent with the BILLING CODE 8011–01–P including whether the proposed rule protection of investors and the public change is consistent with the Act. interest. The Exchange has asked the Comments may be submitted by any of Commission to waive the 30-day SECURITIES AND EXCHANGE the following methods: operative delay so that the proposed COMMISSION rule change may become effective and Electronic Comments operative on November 29, 2018. The • Use the Commission’s internet [Release No. 34–84616; File No. SR– Exchange states that waiver of the comment form (http://www.sec.gov/ NYSEAMER–2018–39] operative delay will provide Users with rules/sro.shtml); or additional flexibility to manage and • Send an email to rule-comments@ Self-Regulatory Organizations; NYSE display their orders and provide sec.gov. Please include File Number SR– American LLC; Notice of Designation additional control over their executions C2–2018–023 on the subject line. of Longer Period for Commission on the Exchange as soon as possible. Action on a Proposed Rule Change To The Exchange further states that waiver Paper Comments Allow Flexible Exchange Equity of the operative delay will allow the • Send paper comments in triplicate Options Where the Underlying Security Exchange to continue to strive towards to Secretary, Securities and Exchange Is an Exchange-Traded Fund That Is a complete technology integration of the Commission, 100 F Street NE, Included in the Option Penny Pilot To Cboe Affiliated Exchanges, with gradual Washington, DC 20549–1090. Be Settled in Cash roll-outs of new functionality to ensure All submissions should refer to File the stability of the System. The Number SR–C2–2018–023. This file November 19, 2018. Exchange notes that the proposed rule number should be included on the On September 20, 2018, NYSE change is generally intended to codify subject line if email is used. To help the American LLC (‘‘NYSE American’’ or and to add certain system functionality Commission process and review your the ‘‘Exchange’’) filed with the to the Exchange’s System in order to comments more efficiently, please use Securities and Exchange Commission provide a consistent technology offering only one method. The Commission will (‘‘Commission’’), pursuant to Section for the Cboe Affiliated Exchanges. The post all comments on the Commission’s 19(b)(1) of the Securities Exchange Act Exchange further notes that a consistent internet website (http://www.sec.gov/ of 1934 (‘‘Act’’) 1 and Rule 19b–4 technology offering will simplify the rules/sro.shtml). Copies of the thereunder,2 a proposed rule change to technology implementation changes and submission, all subsequent modify the rules related to Flexible maintenance by Trading Permit Holders amendments, all written statements Exchange (‘‘FLEX’’) Options to allow with respect to the proposed rule FLEX Equity Options where the 15 15 U.S.C. 78s(b)(3)(A). change that are filed with the underlying security is an Exchange- 16 17 CFR 240.19b–4(f)(6). As required under Rule Commission, and all written Traded Fund that is included in the 19b–4(f)(6)(iii), the Exchange provided the Commission with written notice of its intent to file communications relating to the Option Penny Pilot to be settled in cash. the proposed rule change, along with a brief proposed rule change between the The proposed rule change was description and the text of the proposed rule published for comment in the Federal change, at least five business days prior to the date 19 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 20 17 CFR 200.30–3(a)(12). 17 17 CFR 240.19b–4(f)(6). 1 15 U.S.C. 78s(b)(1). efficiency, competition, and capital formation. See 18 17 CFR 240.19b–4(f)(6)(iii). 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4. VerDate Sep<11>2014 17:28 Nov 23, 2018 Jkt 247001 PO 00000 Frm 00129 Fmt 4703 Sfmt 4703 E:\FR\FM\26NON1.SGM 26NON1

60520 Federal Register / Vol. 83, No. 227 / Monday, November 26, 2018 / Notices Register on October 11, 2018.3 No (‘‘Commission’’) is soliciting comments SECURITIES AND EXCHANGE comments have been received on the on the collection of information COMMISSION proposed rule change. summarized below. The Commission Section 19(b)(2) of the Act 4 provides [Investment Company Act Release No. plans to submit this existing collection 33296; 812–14934] that, within 45 days of the publication of information to the Office of of the notice of the filing of a proposed Management and Budget for approval. Pacific Global ETF Trust and Cadence rule change, or within such longer Capital Management LLC period up to 90 days as the Commission Form T–3 (17 CFR 269.3) is an may designate if it finds such longer application for qualification of an November 19, 2018. period to be appropriate and publishes indenture under the Trust Indenture Act AGENCY: Securities and Exchange its reasons for so finding or as to which of 1939 (15 U.S.C. 77aaa et seq.). The Commission (‘‘Commission’’). the self-regulatory organization information provided under Form T–3 ACTION: Notice. consents, the Commission shall approve is used by the Commission to determine the proposed rule change, disapprove whether to qualify an indenture relating Notice of an application for an order the proposed rule change, or institute to an offering of debt securities that is under section 6(c) of the Investment proceedings to determine whether the not required to be registered under the Company Act of 1940 (the ‘‘Act’’) for an proposed rule change should be Securities Act of 1933 (15 U.S.C. 77a et exemption from sections 2(a)(32), disapproved. The 45th day after seq.). Form T–3 takes approximately 43 5(a)(1), 22(d), and 22(e) of the Act and publication of the notice for this rule 22c–1 under the Act, under hours per response to prepare and is sections 6(c) and 17(b) of the Act for an proposed rule change is November 25, filed by 16 respondents. We estimate exemption from sections 17(a)(1) and 2018. The Commission is extending this that 25% of the 43 burden hours (11 17(a)(2) of the Act, and under section 45-day time period. hours per response) is prepared by the The Commission finds that it is 12(d)(1)(J) for an exemption from filer for a total reporting burden of 176 sections 12(d)(1)(A) and 12(d)(1)(B) of appropriate to designate a longer period hours (11 hours per response × 16 within which to take action on the the Act. The requested order would responses). permit (a) index-based series of certain proposed rule change so that it has sufficient time to consider the proposed Written comments are invited on: (a) open-end management investment rule change. Accordingly, the Whether this proposed collection of companies (‘‘Funds’’) to issue shares Commission, pursuant to Section information is necessary for the redeemable in large aggregations 19(b)(2) of the Act,5 designates January performance of the functions of the (‘‘Creation Units’’); (b) secondary market 9, 2019, as the date by which the agency, including whether the transactions in Fund shares to occur at Commission should approve, information will have practical utility; negotiated market prices rather than at disapprove, or institute proceedings to (b) the accuracy of the agency’s estimate net asset value (‘‘NAV’’); (c) certain determine whether to disapprove the of the burden imposed by the collection Funds to pay redemption proceeds, proposed rule change (File No. SR– of information; (c) ways to enhance the under certain circumstances, more than NYSEAMER–2018–39). seven days after the tender of shares for quality, utility, and clarity of the redemption; (d) certain affiliated For the Commission, by the Division of information collected; and (d) ways to persons of a Fund to deposit securities Trading and Markets, pursuant to delegated minimize the burden of the collection of authority.6 into, and receive securities from, the information on respondents, including Fund in connection with the purchase Eduardo A. Aleman, through the use of automated collection and redemption of Creation Units; (e) Assistant Secretary. techniques or other forms of information certain registered management [FR Doc. 2018–25595 Filed 11–23–18; 8:45 am] technology. Consideration will be given investment companies and unit BILLING CODE 8011–01–P to comments and suggestions submitted investment trusts outside of the same in writing within 60 days of this group of investment companies as the publication. Funds (‘‘Funds of Funds’’) to acquire SECURITIES AND EXCHANGE shares of the Funds; (f) certain Funds An agency may not conduct or COMMISSION (‘‘Feeder Funds’’) to create and redeem sponsor, and a person is not required to Proposed Collection; Comment respond to, a collection of information Creation Units in-kind in a master- Request unless it displays a currently valid feeder structure; and (g) certain Funds control number. to issue Shares in less than Creation Upon Written Request Copies Available Unit size to investors participating in a From: Securities and Exchange Please direct your written comments distribution reinvestment program. Commission, Office of FOIA Services, to Charles Riddle, Acting Director/Chief Applicants: Pacific Global ETF Trust 100 F Street NE, Washington, DC Information Officer, Securities and (the ‘‘Trust’’), a Delaware statutory trust, 20549–2736. Exchange Commission, c/o Candace that will be registered under the Act as Extension: Kenner, 100 F Street NE, Washington, an open-end management investment Form T–3; SEC File No. 270–123, OMB DC 20549; or send an email to: PRA_ company with multiple series, and Control No. 3235–0105. Mailbox@sec.gov. Cadence Capital Management LLC (the Notice is hereby given that, pursuant Dated: November 20, 2018. ‘‘Initial Adviser’’), a Delaware limited to the Paperwork Reduction Act of 1995 liability company registered as an Eduardo A. Aleman, (44 U.S.C. 3501 et seq.), the Securities investment adviser under the Assistant Secretary. Investment Advisers Act of 1940. and Exchange Commission [FR Doc. 2018–25683 Filed 11–23–18; 8:45 am] Filing Dates: The application was 3 See Securities Exchange Act Release No. 84364 BILLING CODE 8011–01–P filed on July 24, 2018 and amended on (October 4, 2018), 83 FR 51535 (October 11, 2018). November 13, 2018. 4 15 U.S.C. 78s(b)(2). Hearing or Notification of Hearing: An 5 Id. order granting the requested relief will 6 17 CFR 200.30–3(a)(31). be issued unless the Commission orders VerDate Sep<11>2014 17:28 Nov 23, 2018 Jkt 247001 PO 00000 Frm 00130 Fmt 4703 Sfmt 4703 E:\FR\FM\26NON1.SGM 26NON1


Document Created: 2018-11-24 00:52:25
Document Modified: 2018-11-24 00:52:25
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 60519 
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR