Federal Register / Vol. 83, No. 110 / Thursday, June 7, 2018 / Notices 26507 

2The requested relief would apply to direct sales 

of shares in Creation Units by a Fund to a Fund of 

Funds and redemptions of those shares. Applicants, 

moreover, are not seeking relief from section 17(a) 

for, and the requested relief will not apply to, 

transactions where a Fund could be deemed an 

Affiliated Person, or a Second-Tier Affiliate, of a 

Fund of Funds because an investment adviser to the 

Funds is also an investment adviser to a Fund of 

Funds. 

1 15 U.S.C.78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

secondary market trading in shares does 

not involve a Fund as a party and will 

not result in dilution of an investment 

in shares, and (b) to the extent different 

prices exist during a given trading day, 

or from day to day, such variances occur 

as a result of third-party market forces, 

such as supply and demand. Therefore, 

applicants assert that secondary market 

transactions in shares will not lead to 

discrimination or preferential treatment 

among purchasers. Finally, applicants 

represent that share market prices will 

be disciplined by arbitrage 

opportunities, which should prevent 

shares from trading at a material 

discount or premium from NAV. 

6. With respect to Funds that hold 

non-U.S. Portfolio Instruments and that 

effect creations and redemptions of 

Creation Units in kind, applicants 

request relief from the requirement 

imposed by section 22(e) in order to 

allow such Funds to pay redemption 

proceeds within fifteen calendar days 

following the tender of Creation Units 

for redemption. Applicants assert that 

the requested relief would not be 

inconsistent with the spirit and intent of 

section 22(e) to prevent unreasonable, 

undisclosed or unforeseen delays in the 

actual payment of redemption proceeds. 

7. Applicants request an exemption to 

permit Funds of Funds to acquire Fund 

shares beyond the limits of section 

12(d)(1)(A) of the Act; and the Funds, 

and any principal underwriter for the 

Funds, and/or any broker or dealer 

registered under the Exchange Act, to 

sell shares to Funds of Funds beyond 

the limits of section 12(d)(1)(B) of the 

Act. The application’s terms and 

conditions are designed to, among other 

things, help prevent any potential (i) 

undue influence over a Fund through 

control or voting power, or in 

connection with certain services, 

transactions, and underwritings, (ii) 

excessive layering of fees, and (iii) 

overly complex fund structures, which 

are the concerns underlying the limits 

in sections 12(d)(1)(A) and (B) of the 

Act. 

8. Applicants request an exemption 

from sections 17(a)(1) and 17(a)(2) of the 

Act to permit a person who is an 

affiliated person, as defined in section 

2(a)(3) of the Act (‘‘Affiliated Person’’), 

or an affiliated person of an Affiliated 

Person (‘‘Second-Tier Affiliate’’), of the 

Funds, solely by virtue of certain 

ownership interests, to effectuate 

purchases and redemptions in-kind. The 

deposit procedures for in-kind 

purchases of Creation Units and the 

redemption procedures for in-kind 

redemptions of Creation Units will be 

the same for all purchases and 

redemptions and Deposit Instruments 

and Redemption Instruments will be 

valued in the same manner as those 

Portfolio Instruments currently held by 

the Funds. Applicants also seek relief 

from the prohibitions on affiliated 

transactions in section 17(a) to permit a 

Fund to sell its shares to and redeem its 

shares from a Fund of Funds, and to 

engage in the accompanying in-kind 

transactions with the Fund of Funds.2

The purchase of Creation Units by a 

Fund of Funds directly from a Fund will 

be accomplished in accordance with the 

policies of the Fund of Funds and will 

be based on the NAVs of the Funds. 

9. Applicants also request relief to 

permit a Feeder Fund to acquire shares 

of another registered investment 

company managed by the Adviser 

having substantially the same 

investment objectives as the Feeder 

Fund (‘‘Master Fund’’) beyond the 

limitations in section 12(d)(1)(A) and 

permit the Master Fund, and any 

principal underwriter for the Master 

Fund, to sell shares of the Master Fund 

to the Feeder Fund beyond the 

limitations in section 12(d)(1)(B). 

10. Section 6(c) of the Act permits the 

Commission to exempt any persons or 

transactions from any provision of the 

Act if such exemption is necessary or 

appropriate in the public interest and 

consistent with the protection of 

investors and the purposes fairly 

intended by the policy and provisions of 

the Act. Section 12(d)(1)(J) of the Act 

provides that the Commission may 

exempt any person, security, or 

transaction, or any class or classes of 

persons, securities, or transactions, from 

any provision of section 12(d)(1) if the 

exemption is consistent with the public 

interest and the protection of investors. 

Section 17(b) of the Act authorizes the 

Commission to grant an order 

permitting a transaction otherwise 

prohibited by section 17(a) if it finds 

that (a) the terms of the proposed 

transaction are fair and reasonable and 

do not involve overreaching on the part 

of any person concerned; (b) the 

proposed transaction is consistent with 

the policies of each registered 

investment company involved; and (c) 

the proposed transaction is consistent 

with the general purposes of the Act. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–12191 Filed 6–6–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83359; File No. SR–NYSE– 

2018–22] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend the 

Content of the NYSE Best Quote & 

Trades Data Feed 

June 1, 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, New York Stock Exchange LLC 

(‘‘NYSE’’ or the ‘‘Exchange’’) 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. 

I. Self-Regulatory Organization’s 

Statement of the Terms of the Substance 

of the Proposed Rule Change 

The Exchange proposes to amend the 

content of the NYSE Best Quote & 

Trades (‘‘NYSE BQT’’) data feed. 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, 


sradovich on DSK3GMQ082PROD with NOTICES
26508 Federal Register / Vol. 83, No. 110 / Thursday, June 7, 2018 / Notices 

4See SR–NYSENat–2018–09. 

5See Securities Exchange Act Release No. 73553 

(November 6, 2014), 79 FR 67491 (November 13, 

2014) (Notice of Amendment No. 1 and Order 

Granting Accelerated Approval to a Proposed Rule 

Change, as Modified by Amendment No. 1, To 

Establish the NYSE Best Quote and Trades Data 

Feed). 

6See Securities Exchange Act Release Nos. 59290 

(Jan. 23, 2009), 74 FR 5707 (Jan. 30, 2009) (SR– 

NYSE–2009–05); 59606 (Mar. 19, 2009), 74 FR 

13293 (Mar. 26, 2009) (SR–NYSE–2009–04). 

7See Securities Exchange Act Release No. 62181 

(May 26, 2010), 75 FR 31488 (June 3, 2010) (SR– 

NYSE–2010–30). 

8See Securities Exchange Act Release Nos. 59289 

(Jan. 23, 2009), 74 FR 5711 (Jan. 30, 2009) (SR– 

NYSEArca–2009–06); and 59598 (Mar. 18, 2009), 74 

FR 12919 (Mar. 25, 2009) (SR–NYSEArca–2009–05). 

9See Securities Exchange Act Release No. 62188 

(May 27, 2010), 75 FR 31484 (June 3, 2010) (SR– 

NYSEArca–2010–23). 

10See Securities Exchange Act Release No. 62187 

(May 27, 2010), 75 FR 31500 (June 3, 2010) (SR– 

NYSEAmex–2010–35). 

11See Securities Exchange Act Release No. 62187 

(May 27, 2010), 75 FR 31500 (June 3, 2010) (SR– 

NYSEAmex–2010–35). 

12See SR–NYSE–2018–24. 

13 15 U.S.C. 78f(b). 

14 15 U.S.C. 78f(b)(5). 

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 amend the 

content of NYSE BQT to include data 

feeds from the Exchange’s affiliate, 

NYSE National, Inc. (‘‘NYSE National’’). 

The Exchange recently filed a proposed 

rule change to establish NYSE National 

market data feeds, including NYSE 

National BBO (‘‘NYSE National BBO’’) 

and NYSE National Trades (‘‘NYSE 

National Trades’’) 4 and now proposes to 

amend the content of the NYSE BQT 

market data feed to include NYSE 

National BBO and NYSE National 

Trades. 

The NYSE BQT5 data feed currently 

provides a unified view of best bid and 

offer (‘‘BBO’’) and last sale information 

for the Exchange and its affiliates, NYSE 

Arca, Inc. (‘‘NYSE Arca’’) and NYSE 

American LLC (‘‘NYSE American’’) and 

consists of data elements from six 

existing market data feeds: NYSE 

Trades,6 NYSE BBO,7 NYSE Arca 

Trades,8 NYSE Arca BBO,9 NYSE 

American Trades 10 and NYSE 

American BBO.11

NYSE BBO, NYSE Arca BBO, and 

NYSE American BBO are existing data 

feeds that distribute on a realtime basis 

the same BBO information that NYSE, 

NYSE Arca, and NYSE American, 

respectively, report under the 

Consolidated Quotation (‘‘CQ’’) Plan for 

inclusion in the CQ Plan’s consolidated 

quotation information data stream. 

NYSE Trades, NYSE Arca Trades, and 

NYSE American Trades are existing data 

feeds that distribute on a real-time basis 

the same last sale information that 

NYSE, NYSE Arca, and NYSE 

American, respectively, report under the 

Consolidated Tape Association (‘‘CTA’’) 

Plan for inclusion in the CTA Plan’s 

consolidated data streams. 

The NYSE BQT data feed has three 

channels: One channel for the last sale 

data (the ‘‘last sale channel’’); another 

channel for the BBO data (the ‘‘best 

quotes channel’’); and a third channel 

for consolidated volume data (the 

‘‘consolidated volume channel’’). 

The last sale channel provides an 

aggregation of the same data that is 

currently available through NYSE 

Trades, NYSE Arca Trades, and NYSE 

American Trades. With this proposed 

rule change, the last sale channel would 

also include data available through 

NYSE National Trades. 

The best quotes channel provides the 

NYSE BQT BBO, which is the best quote 

from among the NYSE BBO, NYSE Arca 

BBO, and NYSE MKT BBO based on the 

following criteria, in order: 

• Price: The exchange with the 

highest bid or the lowest offer has 

overall priority; 

• Size: The largest size takes 

precedence when multiple exchanges 

submit the same bid and/or offer price; 

and 

• Time: The earliest time takes 

precedence when multiple exchanges 

submit the same bid and/or offer price 

with the same sizes. 

With this proposed rule change, the 

best quotes channel would also include 

data available through NYSE National 

BBO. 

For each security, the best quotes 

channel would only include one best 

bid and one best offer from among the 

four exchanges. The NYSE BQT BBO 

would be marked with a market center 

ID identifying the exchange from which 

the BBO originated. 

The consolidated volume channel 

carries consolidated volume for all 

listed equities in a manner consistent 

with the requirements for redistributing 

such data as set forth in the securities 

information processor plans. 

As it does today, NYSE BQT would 

also provide related data elements for 

NYSE National, such as trade and 

security status updates (e.g., trade 

corrections and trading halts). 

The Exchange believes that NYSE 

BQT would continue to provide highquality, comprehensive last sale and 

BBO data for the Exchange, NYSE Arca, 

NYSE American, and now, NYSE 

National, in a unified view and would 

respond to subscriber demand for such 

a product. 

With respect to cost, the Exchange 

will file a separate rule filing to amend 

the fees for NYSE BQT.12 To ensure that 

vendors could continue to compete with 

the Exchange by creating the same 

product as NYSE BQT and selling it to 

their clients, the Exchange would 

continue to charge its clients for the 

NYSE BQT feed an amount that 

represents the cost to a market data 

vendor to obtain the underlying data 

feeds, plus an access fee to perform an 

aggregation and consolidation function 

that the Exchange performs in creating 

NYSE BQT. The Exchange believes that 

a competing vendor could create and 

offer a product similar to the proposed 

NYSE BQT data feed at a similar cost. 

For these reasons, the Exchange 

continues to believe that vendors could 

readily offer a product similar to NYSE 

BQT on a competitive basis. 

The Exchange will announce the date 

through a market data notice that the 

amended NYSE BQT feed that includes 

NYSE National BBO and NYSE National 

Trades data would be available and by 

when a subscriber must subscribe to 

NYSE National BBO and NYSE National 

Trades to continue receiving NYSE 

BQT. This proposed change to NYSE 

BQT will not be operative until NYSE 

National has established the NYSE 

National BBO and NYSE National 

Trades and related fees via a proposed 

rule change(s) and NYSE National has 

re-launched operations. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) 13 of the Act (‘‘Act’’), in 

general, and furthers the objectives of 

Section 6(b)(5) 14 of the Act, in 

particular, in that 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, and it is not designed to 

permit unfair discrimination among 

customers, brokers, or dealers. This 

proposal is in keeping with those 

principles in that it promotes increased 

transparency through the dissemination 

of the NYSE BQT market data feed to 

those interested in receiving it. 

The NYSE BQT data feed is a product 

that relies on the Exchange’s receipt of 


sradovich on DSK3GMQ082PROD with NOTICES
Federal Register / Vol. 83, No. 110 / Thursday, June 7, 2018 / Notices 26509 

15 17 CFR 242.603. 

16See NASDAQ Basic, available at http://

business.nasdaq.com/intel/market-data-feeds/ 

Equities-Market-Data/basic. 

17See NLS Plus, available at http://

www.nasdaqtrader.com/Trader.aspx?id=NLSplus. 

18See https://markets.cboe.com/us/equities/ 

market_data_products/bats_one/. The Cboe 

Equities One Premium Feed also includes five 

levels of aggregate depth information for all four 

Cboe exchanges. 

19 15 U.S.C. 78f(b)(8). 

20See supra notes 16–18. 

21See supra notes 16–18. 

22 15 U.S.C. 78s(b)(3)(A). 

23 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 

Continued 

underlying data, which is available to 

all market participants, before it can 

aggregate and consolidate information to 

create the NYSE BQT; this is a process 

that a vendor could also perform. 

Accordingly, the Exchange is not the 

only distributor of the NYSE BQT data 

feed. 

The Exchange believes that the 

proposed rule change is consistent with 

Rule 603 of Regulation NMS,15 which 

provides that any national securities 

exchange that distributes information 

with respect to quotations for or 

transactions in an NMS stck [sic] do so 

on terms that are not unreasonably 

discriminatory. In adopting Regulation 

NMS, the Commission granted selfregulatory organizations (‘‘SROs’’) and 

broker dealers increased authority and 

flexibility to offer new and unique 

market data to consumers of such data. 

It was believed that this authority would 

expand the amount of data available to 

users and consumers of such data and 

also spur innovation and competition 

for the provision of market data. 

The Exchange further notes that the 

existence of alternatives to the 

Exchange’s product, including real-time 

consolidated data, free delayed 

consolidated data, and proprietary data 

from other sources, as well as the 

continued availability of the Exchange’s 

separate data feeds, ensures that the 

Exchange is not unreasonably 

discriminatory because vendors and 

subscribers can elect these alternatives 

as their individual business cases 

warrant. Additionally, the Exchange has 

taken into consideration its affiliated 

relationship with NYSE Arca, NYSE 

American and NYSE National in its 

design of the NYSE BQT data feed to 

assure that similarly situated competing 

vendors would be able to offer a similar 

product on the same terms as the 

Exchange, both from the perspective of 

latency and cost. 

The Exchange believes that NYSE 

BQT offers an alternative to the use of 

consolidated data products and 

proprietary data products such as 

NASDAQ Basic and NLS Plus. 

NASDAQ Basic, which is offered by The 

NASDAQ Stock Market, Inc. 

(‘‘NASDAQ’’) provides best bid and 

offer and last sale information for all 

U.S. exchange-listed securities 

(including NYSE and its affiliates) based 

on liquidity within NASDAQ, as well as 

trades reported to the FINRA/NASDAQ 

Trade Reporting Facility (‘‘TRF’’), 

including NASDAQ last sale, NASDAQ 

BBO, NASDAQ opening and closing 

prices, and other market status 

information.16 Further, NLS Plus 

provides all trade data from NASDAQ, 

the FINRA/NASDAQ TRF, NASDAQ 

BX, and NASDAQ PSX, as well as 

consolidated volume information as part 

of each trade message.17

Cboe Global Markets, Inc. (‘‘Cboe’’) 

also offers a market data product that 

provides a unified view of the 

aggregated quote and trade updates for 

all the Cboe equity exchanges.18 The 

Exchange believes that NYSE BQT offers 

a competitive alternative to the two 

existing NASDAQ products and the 

Cboe product. 

In addition, this proposal would not 

permit unfair discrimination because 

NYSE BQT will continue to be available 

to all of the Exchange’s customers 

through SFTI and market data vendors 

on an equivalent basis. In addition, any 

customer that wished to continue to be 

able to purchase one or more of the 

individual underlying data feeds would 

be able to do so. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

In accordance with Section 6(b)(8) of 

the Act,19 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 Exchange believes that the 

proposed rule change will enhance 

competition because it would enable the 

Exchange to include NYSE National 

BBO and NYSE National Trades as part 

of NYSE BQT, thereby enabling it to 

better compete with market data 

products offered by NASDAQ and 

Cboe.20 As noted above, the Exchange 

already offers NYSE BQT and this 

proposed rule change simply amends 

the content of the current market data 

product to include data elements from 

two additional data feeds from the 

Exchange’s affiliate, NYSE National. 

Although the Exchange, NYSE Arca, 

NYSE American and NYSE National are 

the exclusive distributors of the eight 

BBO and Trades feeds from which 

certain data elements are taken to create 

NYSE BQT, the Exchange would not be 

the exclusive distributor of the 

aggregated and consolidated 

information that would compose the 

amended NYSE BQT data feed. Vendors 

would be able, if they chose, to create 

a data feed with the same information 

as NYSE BQT and distribute it to their 

clients on a level-playing field with 

respect to latency and cost as compared 

to the Exchange’s product. 

With respect to latency, the Exchange, 

NYSE Arca, NYSE American and NYSE 

National are located in the same data 

center in Mahwah, New Jersey. The 

system creating and supporting the 

NYSE BQT data feed would need to 

obtain the eight underlying data feeds 

from the four exchanges before it could 

aggregate and consolidate information to 

create NYSE BQT and then distribute it 

to end users. Likewise, a competing 

market data vendor co-located at the 

Exchange’s Mahwah, New Jersey facility 

could perform the aggregation and 

consolidation function in the Mahwah 

facility and redistribute a competing 

product from that location to similarly 

situated customers on a level-playing 

field with respect to the speed that the 

Exchange could create and redistribute 

the NYSE BQT data feed. 

The Exchange believes that NYSE 

BQT will continue to promote 

competition among exchanges by 

offering an alternative to NASDAQ 

Basic, NLS Plus and Cboe Equites One 

Feed.21 For these reasons, the Exchange 

believes that NYSE BQT will continue 

to promote, rather than unnecessarily or 

inappropriately burden, competition for 

market data products that are offered in 

the capacity as a vendor and are not 

core exchange market data products. 

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 22 and Rule 19b– 

4(f)(6) thereunder.23


sradovich on DSK3GMQ082PROD with NOTICES
26510 Federal Register / Vol. 83, No. 110 / Thursday, June 7, 2018 / Notices 

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. 

24 17 CFR 240.19b–4(f)(6). 

25 17 CFR 240.19b–4(f)(6)(iii). 

26For 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). 27 17 CFR 200.30–3(a)(12). 

1The rule generally requires all assets to be 

deposited in the safekeeping of a ‘‘bank or other 

company whose functions and physical facilities 

are supervised by Federal or State authority.’’ The 

fund’s securities must be physically segregated at 

all times from the securities of any other person. 

2The accountant must transmit to the 

Commission promptly after each examination a 

certificate describing the examination on Form N– 

17f–2. The third (scheduled) examination may 

coincide with the annual verification required for 

every fund by section 30(g) of the Act (15 U.S.C. 

80a–29(g)). 

A proposed rule change filed 

pursuant to Rule 19b–4(f)(6) under the 

Act 24 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 25

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 

provide an amended NYSE BQT market 

data feed that will include the NYSE 

National Market Data Feeds 

immediately upon launch of NYSE 

National, which the Exchange states is 

intended in May 2018, and will further 

allow the Exchange to compete directly 

with the similar NASDAQ and Cboe 

market data products on a timely basis. 

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.26

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 rule-comments@

sec.gov. Please include File Number SR– 

NYSE–2018–22 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–NYSE–2018–22. 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 

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 the 

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–NYSE–2018–22, and 

should be submitted on or before June 

28, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.27

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–12193 Filed 6–6–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–233, OMB Control No. 

3235–0223] 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Extension: 

Rule 17f–2 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 350l et seq.), the Securities 

and Exchange Commission (the 

‘‘Commission’’) has submitted to the 

Office of Management and Budget a 

request for extension of the previously 

approved collection of information 

discussed below. 

Rule 17f–2 (17 CFR 270.17f–2), 

entitled ‘‘Custody of Investments by 

Registered Management Investment 

Company,’’ was adopted in 1940 under 

section 17(f) of the Investment Company 

Act of 1940 (15 U.S.C. 80a–17(f)) (the 

‘‘Act’’), and was last amended 

materially in 1947. Rule 17f–2 

establishes safeguards for arrangements 

in which a registered management 

investment company (‘‘fund’’) is 

deemed to maintain custody of its own 

assets, such as when the fund maintains 

its assets in a facility that provides 

safekeeping but not custodial services.1

The rule includes several recordkeeping 

or reporting requirements. The fund’s 

directors must prepare a resolution 

designating not more than five fund 

officers or responsible employees who 

may have access to the fund’s assets. 

The designated access persons (two or 

more of whom must act jointly when 

handling fund assets) must prepare a 

written notation providing certain 

information about each deposit or 

withdrawal of fund assets, and must 

transmit the notation to another officer 

or director designated by the directors. 

An independent public accountant must 

verify the fund’s assets three times each 

year, and two of those examinations 

must be unscheduled.2


sradovich on DSK3GMQ082PROD with NOTICES