83 FR 6071 - Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Shares of the LHA Market State® Tactical U.S. Equity ETF, a Series of the ETF Series Solutions, Under Rule 14.11(i), Managed Fund Shares

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 29 (February 12, 2018)

Page Range		6071-6072
FR Document		2018-02726

Federal Register, Volume 83 Issue 29 (Monday, February 12, 2018)

[Federal Register Volume 83, Number 29 (Monday, February 12, 2018)]
[Notices]
[Pages 6071-6072]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-02726]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82643; File No. SR-CboeBZX-2017-012]


Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change, as Modified by Amendment No. 1, To List and Trade Shares of the 
LHA Market State[supreg] Tactical U.S. Equity ETF, a Series of the ETF 
Series Solutions, Under Rule 14.11(i), Managed Fund Shares

February 6, 2018.
    On December 7, 2017, Cboe BZX Exchange, Inc. (``Exchange'' or 
``BZX'') 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 the shares of the LHA Market 
State[supreg] Tactical U.S. Equity ETF (``Fund'') under BZX Rule 
14.11(i). The proposed rule change was published for comment in the 
Federal

[[Page 6072]]

Register on December 28, 2017.\3\ On January 31, 2018, the Exchange 
filed Amendment No. 1 to the proposed rule change.\4\ The Commission 
has received no comment letters 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. 82379 (Dec. 21, 
2017), 82 FR 61608.
    \4\ In Amendment No. 1, which amended and replaced the proposed 
rule change in its entirety, the Exchange: (a) Supplemented the 
description of the Fund's relative exposures to the U.S. equity and 
S&P 500 futures markets; (b) made conforming informational and rule 
reference corrections to maintain internal consistency; (c) updated 
the status of the registration statement for the Fund; (d) clarified 
the use of certain defined terms; and (e) made other technical and 
non-substantive changes. Amendment No. 1 to the proposed rule change 
is available on the Commission's website at: https://www.sec.gov/comments/sr-cboebzx-2017-012/cboebzx2017012.htm.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \5\ 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 
Commission is extending this 45-day time period. 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.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates March 28, 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-
CboeBZX-2017-012), as modified by Amendment No. 1.
---------------------------------------------------------------------------

    \6\ Id.
    \7\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-02726 Filed 2-9-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 29 / Monday, February 12, 2018 / Notices 6071

will be assessed the lower fee. The C. Self-Regulatory Organization’s proposed rule change between the
Exchange believes that the complex fee Statement on Comments on the Commission and any person, other than
structure as proposed will remain Proposed Rule Change Received From those that may be withheld from the
attractive to market participants, who Members, Participants, or Others public in accordance with the
will continue to be charged lower fees No written comments were either provisions of 5 U.S.C. 552, will be
for adding liquidity to the complex solicited or received. available for website viewing and
order book than for removing liquidity. printing in the Commission’s Public
ISE notes that other options exchanges III. Date of Effectiveness of the Reference Room, 100 F Street NE,
assess similar surcharges on complex Proposed Rule Change and Timing for Washington, DC 20549, on official
orders that remove liquidity from the Commission Action business days between the hours of
complex order book.21 The foregoing rule change has become 10:00 a.m. and 3:00 p.m. Copies of the
The Exchange’s proposal to adopt the effective pursuant to Section filing also will be available for
19(b)(3)(A)(ii) of the Act,22 and Rule inspection and copying at the principal
$0.03 per contract Non-Priority
19b–4(f)(2) 23 thereunder. At any time office of the Exchange. All comments
Customer complex order surcharge in
within 60 days of the filing of the received will be posted without change.
the manner discussed above is equitable
proposed rule change, the Commission Persons submitting comments are
and not unfairly discriminatory because
summarily may temporarily suspend cautioned that we do not redact or edit
the surcharge will apply to all similarly-
such rule change if it appears to the personal identifying information from
situated market participants. Commission that such action is: (i) comment submissions. You should
Update Fee Schedule Headings Necessary or appropriate in the public submit only information that you wish
interest; (ii) for the protection of to make available publicly. All
The Exchange believes that the clean- investors; or (iii) otherwise in submissions should refer to File
up changes to update the section furtherance of the purposes of the Act. Number SR–ISE–2018–10 and should be
headings in its Schedule of Fees is If the Commission takes such action, the submitted on or before March 5, 2018.
reasonable, equitable and not unfairly Commission shall institute proceedings
discriminatory because these are non- to determine whether the proposed rule For the Commission, by the Division of
substantive changes intended to make should be approved or disapproved. Trading and Markets, pursuant to delegated
the Schedule of Fees more transparent authority.24
IV. Solicitation of Comments Eduardo A. Aleman,
to members and investors.
Interested persons are invited to Assistant Secretary.
B. Self-Regulatory Organization’s submit written data, views, and [FR Doc. 2018–02727 Filed 2–9–18; 8:45 am]
Statement on Burden on Competition arguments concerning the foregoing,
BILLING CODE 8011–01–P
including whether the proposed rule
The Exchange does not believe that
change is consistent with the Act.
the proposed rule change will impose
Comments may be submitted by any of SECURITIES AND EXCHANGE
any burden on competition not
the following methods: COMMISSION
necessary or appropriate in furtherance
of the purposes of the Act. The Electronic Comments
proposed fees and rebates are designed • Use the Commission’s internet [Release No. 34–82643; File No. SR–
to attract additional order flow to ISE, comment form (http://www.sec.gov/ CboeBZX–2017–012]
and the Exchange believes that its rules/sro.shtml); or
complex order pricing remains • Send an email to rule-comments@ Self-Regulatory Organizations; Cboe
attractive to market participants. The sec.gov. Please include File Number SR– BZX Exchange, Inc.; Notice of
Exchange operates in a highly ISE–2018–10 on the subject line. Designation of a Longer Period for
competitive market in which market Commission Action on a Proposed
participants can readily favor competing Paper Comments Rule Change, as Modified by
venues if they deem fee levels at a • Send paper comments in triplicate Amendment No. 1, To List and Trade
particular venue to be excessive, or to Secretary, Securities and Exchange Shares of the LHA Market State®
rebate opportunities available at other Commission, 100 F Street NE, Tactical U.S. Equity ETF, a Series of
venues to be more favorable. In such an Washington, DC 20549–1090. the ETF Series Solutions, Under Rule
environment, the Exchange must All submissions should refer to File 14.11(i), Managed Fund Shares
continually adjust its fees to remain Number SR–ISE–2018–10. This file
February 6, 2018.
competitive with other exchanges. number should be included on the
Because competitors are free to modify subject line if email is used. To help the On December 7, 2017, Cboe BZX
their own fees in response, and because Commission process and review your Exchange, Inc. (‘‘Exchange’’ or ‘‘BZX’’)
market participants may readily adjust comments more efficiently, please use filed with the Securities and Exchange
their order routing practices, the only one method. The Commission will Commission (‘‘Commission’’), pursuant
Exchange believes that the degree to post all comments on the Commission’s to Section 19(b)(1) of the Securities
which fee changes in this market may internet website (http://www.sec.gov/ Exchange Act of 1934 (‘‘Act’’) 1 and Rule
impose any burden on competition is rules/sro.shtml). Copies of the 19b–4 thereunder,2 a proposed rule
extremely limited. submission, all subsequent change to list and trade the shares of the
amendments, all written statements LHA Market State® Tactical U.S. Equity
daltland on DSKBBV9HB2PROD with NOTICES

21 Nasdaq PHLX (‘‘Phlx’’), CBOE Options with respect to the proposed rule ETF (‘‘Fund’’) under BZX Rule 14.11(i).
(‘‘CBOE’’), and MIAX Options (‘‘MIAX’’) assess change that are filed with the The proposed rule change was
similar surcharges for complex order executions Commission, and all written published for comment in the Federal
that remove liquidity from the complex order book
for non-penny classes. See Phlx Pricing Schedule,
communications relating to the
24 17 CFR 200.30–3(a)(12).
Section II, note 7; CBOE Fees Schedule, Complex
22 15 U.S.C. 78s(b)(3)(A)(ii). 1 15 U.S.C. 78s(b)(1).
Surcharge, and note 35; and MIAX Fee Schedule,
Sections (1)(a)(i) and (ii). 23 17 CFR 240.19b–4(f)(2). 2 17 CFR 240.19b–4.

VerDate Sep<11>2014 19:23 Feb 09, 2018 Jkt 244001 PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 E:\FR\FM\12FEN1.SGM 12FEN1

6072 Federal Register / Vol. 83, No. 29 / Monday, February 12, 2018 / Notices

Register on December 28, 2017.3 On SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s
January 31, 2018, the Exchange filed COMMISSION Statement of the Purpose of, and the
Amendment No. 1 to the proposed rule Statutory Basis for, the Proposed Rule
change.4 The Commission has received [Release No. 34–82638; File No. SR– Change
no comment letters on the proposed rule NYSEArca–2018–09] 1. Purpose
change.
Self-Regulatory Organizations; NYSE The Exchange proposes to amend
Section 19(b)(2) of the Act 5 provides certain of the governing documents of
Arca, Inc.; Notice of Filing and
that within 45 days of the publication of its intermediate parent companies ICE
Immediate Effectiveness of Proposed
notice of the filing of a proposed rule Rule Change To Amend Certain of the Holdings, NYSE Holdings, and NYSE
change, or within such longer period up Governing/Documents of Its Group to make a technical change
to 90 days as the Commission may Intermediate Parent Companies updating the registered office and
designate if it finds such longer period registered agent in the state of
to be appropriate and publishes its February 6, 2018. Delaware.4
reasons for so finding or as to which the Pursuant to Section 19(b)(1) 1 of the ICE Holdings and NYSE Group are
self-regulatory organization consents, Securities Exchange Act of 1934 (the corporations and NYSE Holdings is a
the Commission shall either approve the ‘‘Act’’),2 and Rule 19b–4 thereunder,3 limited liability corporation, all
proposed rule change, disapprove the notice is hereby given that, on January organized under the laws of the State of
proposed rule change, or institute 29, 2018, NYSE Arca, Inc. (the Delaware. As such, they are required to
proceedings to determine whether the ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with have and maintain a registered office
proposed rule change should be the Securities and Exchange and registered agent in Delaware.5 The
disapproved. The Commission is Commission (the ‘‘Commission’’) the Exchange proposes to amend certain of
extending this 45-day time period. The proposed rule change as described in their governing documents to change
Commission finds that it is appropriate Items I, II, and III below, which Items the registered office and registered
to designate a longer period within have been prepared by the self- agent.
regulatory organization. The More specifically, the Exchange
which to take action on the proposed
Commission is publishing this notice to proposes to amend the following
rule change so that it has sufficient time
solicit comments on the proposed rule provisions in the listed documents
to consider the proposed rule change.
change from interested persons. (collectively, the ‘‘Governing
Accordingly, the Commission, Documents’’): 6
pursuant to Section 19(b)(2) of the Act,6 I. Self-Regulatory Organization’s • Article II (Registered Office) of the
designates March 28, 2018, as the date Statement of the Terms of Substance of Ninth Amended and Restated Certificate
by which the Commission shall either the Proposed Rule Change of Incorporation of ICE Holdings;
approve or disapprove, or institute The Exchange proposes to amend • Article II, Sections 2.4 (Registered
proceedings to determine whether to certain of the governing documents of Office) and 2.5 (Registered Agent) of the
disapprove, the proposed rule change its intermediate parent companies Ninth Amended and Restated Limited
(File No. SR–CboeBZX–2017–012), as Intercontinental Exchange Holdings, Liability Company Agreement of NYSE
modified by Amendment No. 1. Inc. (‘‘ICE Holdings’’), NYSE Holdings Holdings;
• the Certificate of Formation of
For the Commission, by the Division of LLC (‘‘NYSE Holdings’’) and NYSE
NYSE Holdings; 7
Group, Inc. (‘‘NYSE Group’’) to make a
Trading and Markets, pursuant to delegated • Article II (Registered Office) of the
authority.7 technical change updating the registered
Sixth Amended and Restated Certificate
Eduardo A. Aleman, office and registered agent in the state
of Incorporation of NYSE Group; and
of Delaware. The proposed rule change • Article I, Section 1.1 (Registered
Assistant Secretary.
is available on the Exchange’s website at Office) of the Fourth Amended and
[FR Doc. 2018–02726 Filed 2–9–18; 8:45 am]
www.nyse.com, at the principal office of Restated Bylaws of NYSE Group.
BILLING CODE 8011–01–P the Exchange, and at the Commission’s The listed provisions identify The
Public Reference Room. Corporation Trust Company as the
II. Self-Regulatory Organization’s
4 Intercontinental Exchange Inc., the ultimate
Statement of the Purpose of, and
parent of the Exchange, owns 100% of the equity
Statutory Basis for, the Proposed Rule interest in ICE Holdings, which in turn owns 100%
3 See Securities Exchange Act Release No. 82379 Change of the equity interest in NYSE Holdings. NYSE
(Dec. 21, 2017), 82 FR 61608. Holdings owns 100% of the equity interest of NYSE
4 In Amendment No. 1, which amended and
In its filing with the Commission, the Group, which in turn directly owns 100% of the
replaced the proposed rule change in its entirety,
self-regulatory organization included equity interest of the Exchange and its national
statements concerning the purpose of, securities exchange affiliates, New York Stock
the Exchange: (a) Supplemented the description of Exchange LLC (‘‘NYSE’’), NYSE American LLC and
the Fund’s relative exposures to the U.S. equity and and basis for, the proposed rule change NYSE National, Inc. ICE is a publicly traded
S&P 500 futures markets; (b) made conforming and discussed any comments it received company listed on the NYSE.
informational and rule reference corrections to on the proposed rule change. The text 5 See Del. Code tit 6, § 18–104, and Del. Code tit
maintain internal consistency; (c) updated the of those statements may be examined at 8, §§ 131 and 132.
status of the registration statement for the Fund; (d) the places specified in Item IV below. 6 Some of the Governing Documents were

clarified the use of certain defined terms; and (e) recently amended. See Securities Exchange Act
The Exchange has prepared summaries,
daltland on DSKBBV9HB2PROD with NOTICES

made other technical and non-substantive changes. Release No. 82083 (November 15, 2017), 82 FR
Amendment No. 1 to the proposed rule change is set forth in sections A, B, and C below, 55453 (November 21, 2017) (SR–NYSEArca–2017–
available on the Commission’s website at: https:// of the most significant parts of such 125).
www.sec.gov/comments/sr-cboebzx-2017-012/ statements. 7 The Certificate of Formation of NYSE Holdings

cboebzx2017012.htm. is amended by filing a ‘‘State of Delaware Certificate
5 15 U.S.C. 78s(b)(2).
of Amendment Changing Only the Registered Office
1 15 U.S.C. 78s(b)(1). or Registered Agent of a Limited Liability
6 Id. 2 15 U.S.C. 78a. Company,’’ as set forth in Exhibit 5C of the
7 17 CFR 200.30–3(a)(31). 3 17 CFR 240.19b–4. proposed rule change.

VerDate Sep<11>2014 19:23 Feb 09, 2018 Jkt 244001 PO 00000 Frm 00098 Fmt 4703 Sfmt 4703 E:\FR\FM\12FEN1.SGM 12FEN1

Document Created: 2018-11-01 08:42:19
Document Modified: 2018-11-01 08:42:19

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 6071