Federal Register / Vol. 83, No. 161 / Monday, August 20, 2018 / Notices 42185 

14 15 U.S.C. 78s(b)(3)(A)(iii). 

15 17 CFR 240.19b–4(f)(6). 

16 17 CFR 240.19b–4(f)(6). 

17 17 CFR 240.19b–4(f)(6)(iii). 

18See OLPP Notice, supra note 4. 

19For 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). 

20 15 U.S.C. 78s(b)(2)(B). 

21 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

on other exchanges, while at the same 

time allowing the Exchange to continue 

to compete for order flow with other 

exchanges in option issues. 

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 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 14 and Rule 

19b–4(f)(6) thereunder.15 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 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act and Rule 19b–4(f)(6)(iii) 

thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 16 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),17 the 

Commission may 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 proposal may 

become operative immediately upon 

filing. The Commission notes that the 

Exchange’s proposal would conform the 

Exchange’s rules to the amended OLPP, 

which the Commission previously 

approved.18 Accordingly, the 

Commission believes that the proposal 

raises no new or novel regulatory issues 

and waiver of the 30-day operative 

delay is consistent with the protection 

of investors and the public interest. The 

Commission therefore waives the 30-day 

operative delay and designates the 

proposed rule change to be operative 

upon filing.19

At any time within 60 days of the 

filing of such 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 

under Section 19(b)(2)(B) 20 of the Act to 

determine whether the proposed rule 

change 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– 

NYSEArca–2018–59 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–NYSEArca–2018–59. 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–NYSEArca–2018–59 and 

should be submitted on or before 

September 10, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.21

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2018–17827 Filed 8–17–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83842; File No. SR– 

NYSEAMER–2018–40] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Rules 903 and 

903A 

August 14, 2018. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that on August 3, 

2018, NYSE American LLC (‘‘Exchange’’ 

or ‘‘NYSE American’’) 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 Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Rules 903 and 903A. 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. 


daltland on DSKBBV9HB2PROD with NOTICES
42186 Federal Register / Vol. 83, No. 161 / Monday, August 20, 2018 / Notices 

4See Securities Exchange Act Release Nos. 82235 

(December 7, 2017), 82 FR 58668 (December 13, 

2017) (order approving the Fourth Amendment to 

the OLPP); 81893 (October 18, 2017), 82 FR 49249 

(‘‘OLPP Notice’’). 

5 In addition to the Exchange, the ‘‘Participant 

Exchanges’’ are: Chicago Board Options Exchange, 

Incorporated (now known as Cboe Exchange, Inc.), 

on behalf of the BATS Exchange, Inc. (now known 

as Cboe BZX Exchange, Inc.); Box Options 

Exchange, LLC; C2 Exchange, Incorporated (now 

known as Cboe C2 Exchange, Inc.); EDGX Exchange, 

Inc. (now known as Cboe EDGX Exchange, Inc.); 

Miami International Securities Exchange, LLC; 

MIAX PEARL, LLC; Nasdaq BX, Inc.; Nasdaq 

GEMX, LLC; Nasdaq ISE, LLC; Nasdaq MRX, LLC; 

Nasdaq Options Market, LLC; Nasdaq PHLX, LLC; 

and NYSE Arca Inc. 

6See supra n. 4, 82 FR 49249, at 49249. 

7See proposed Commentary .03(b) to Rule 903. 

8See supra n. 4, 82 FR 49249, at 49250. 

9See proposed Rule 903A(b)(i)(4). The Exchange 

proposes to relocate ‘‘and’’ from paragraph (2) to (3) 

to conform to the change. See proposed Rule 

903A(b)(i)(2),(3). 10See proposed Commentary .03(a) to Rule 903. 11See, e.g., NYSE Arca Rule 6.4–O(d), (e). 

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, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of this filing is to amend 

Rules 903 (Series of Options Open for 

Trading) and 903A (Select Provisions of 

the Options Listing Procedures Plan)— 

or OLPP—to conform to recently 

approved changes to the OLPP.4

The Exchange, which is one of the 

Participant Exchanges 5 to the OLPP, 

currently has rules that are designed to 

incorporate the requirements of the 

OLPP. All Participant Exchanges have 

similar such (essentially uniform) rules 

to ensure consistency and compliance 

with the OLPP. The Exchange proposes 

to modify such rules to reflect the recent 

updates as described below. 

Addition of Long-Term Equity Options 

(‘‘LEAPS’’) 

First, the OLPP has been amended to 

change the earliest date on which new 

January LEAPS on equity options, 

options on Exchange Traded Funds 

(‘‘ETF’’), or options on Trust Issued 

Receipts (‘‘TIR’’) may be added to a 

single date (from three separate 

months). As noted in the OLPP Notice, 

in the past there were operational 

concerns related to adding new January 

LEAPs series for all options classes on 

which LEAPs were listed on a single 

trading day.6 And, the addition of new 

series in a pre-electronic trading 

environment was a manual process. To 

accommodate this, the addition of new 

January LEAPs series was spread across 

three months (September, October, and 

November). Today, however, these 

operational concerns related to January 

LEAPs have been alleviated as new 

series can be added in bulk 

electronically. The Plan Participants, 

including the Exchange, believe that 

moving the addition of new January 

LEAPs series to no earlier than the 

Monday prior to the September 

expiration would reduce marketplace 

confusion about available January 

LEAPs series. Where previously January 

LEAPs series for options classes on the 

February or March expiration cycles 

would not have been available as early 

as January LEAPs series for options 

classes on the January expiration cycle, 

under the proposed change, all January 

LEAPs series will be available 

concurrently. 

Accordingly, to conform to this 

change, the Exchange proposes to 

modify Commentary .03(b) to Rule 903 

to reflect that new January LEAPS series 

on equity options classes, options on 

ETFs, or options on TIRs, may not be 

added on a currently listed and traded 

option class earlier than the Monday 

prior to the September expiration 

(which is 28 months before the 

expiration).7

Addition of Equity, ETF, and TIR 

Option Series After Regular Trading 

Hours 

Second, the OLPP has been amended 

to allow equity, ETF, and TIR option 

series to be added based on trading after 

regular trading hours (i.e., after-market). 

As noted in the OLPP Notice, the prior 

version of the OLPP did not allow for 

option series to be added based on 

trading following regular trading hours.8

As such, the Exchange Participants were 

are [sic] unable to add new option series 

that may result from trading following 

regular trading hours until the next 

morning, depending on the range of 

prices in pre-market trading, which is 

significant because events that occur 

after regular trading hours, such as 

earnings releases, often have an 

important impact on the price of an 

underlying security. In addition, there 

are operational difficulties for market 

participants throughout the industry 

adding series after system startup. To 

avoid the potential burden that would 

result from the inability to add series as 

a result of trading following regular 

trading hours, the OLPP was amended 

to allow an additional category by 

which the price of an underlying 

security may be measured. Specifically, 

to conform to the amended OLPP, the 

Exchange proposes to add paragraph 

(b)(i)(4) to Rule 903A to provide that 

‘‘for option series to be added based on 

trading following regular trading 

hours,’’ the price of the underlying 

security is measured by ‘‘the most 

recent share price reported by all 

national securities exchanges between 

4:15 p.m. and 6:00 p.m. Eastern Time.’’ 9

Technical Changes 

The Exchange proposes to modify the 

description of LEAPs in Commentary 

.03(a) to Rule 903 to clarify the 

application of rules regarding LEAPs. 

The Exchange proposes to explicitly 

state that a LEAP is a series ‘‘that 

expire[s] twelve (12) to thirty-nine (39) 

months from the time they are opened 

for trading, and stock index options that 

expire twelve (12) to thirty-six (36) 

months from the time they are opened 

for trading’’ and that there may up to six 

‘‘extended far term’’ expiration months 

‘‘for any index, Exchange-Trade Fund 

Share, or equity option class.’’ 10

Currently, the Exchange rules do not set 

forth the minimum amount of time to 

expiration for consideration of an 

expiration month as a LEAP, nor do the 

rules explicate that there may only be 

six LEAP expiration months for any 

index, Exchange Traded Fund Share, or 

equity option class. The Exchange also 

does not currently specify that the 

potential additional expirations months 

are ‘‘extended far term’’ expirations 

months. The Exchange believes this 

proposed change would add clarity and 

transparency to Exchange rules and is 

consistent with analogous rules of other 

exchanges.11

The Exchange proposes to modify 

Commentary .03(a) to Rule 903 to delete 

now obsolete operational language, 

which dates back to when LEAPs were 

first adopted. The language in question 

provides that: 

Further, such option series will open for 

trading either when there is buying or selling 

interest, or 40 minutes prior to the close, 

whichever occurs first. No quotations need to 

be posted for such option series until they are 

opened for trading. 

The Exchange proposes to delete this 

language because when this language 


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12See proposed Commentary .03(a) to Rule 903. 

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

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

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

16 17 CFR 240.19b–4(f)(6). 

17 17 CFR 240.19b–4(f)(6). 

18 17 CFR 240.19b–4(f)(6)(iii). 

19See OLPP Notice, supra note 4. 

20For 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). 

21 15 U.S.C. 78s(b)(2)(B). 

was adopted LEAPs were not opened for 

trading until late in the trading day 

unless there was buying or selling 

interest.12 Today, however, 

technological improvements allow the 

Exchange to open all LEAP series at the 

same time as all other series in an 

option class. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) 13 of the 

Act, in general, and furthers the 

objectives of Section 6(b)(5),14 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, and to remove 

impediments to and perfect the 

mechanisms of a free and open market 

and a national market system. 

In particular, the proposed rule 

change, which conforms to the recently 

adopted provisions of the OLPP, as 

amended, allows the Exchange to 

continue to list extended far term option 

series that have been viewed as 

beneficial to traders, investors and 

public customers. Accordingly, the 

Exchange believes that the proposal is 

consistent with the Act because it will 

allow the Exchange to list all January, 

2021expiration series on the Monday 

prior to the September, 2018 expiration. 

Moreover, this change would simplify 

the process for adding new January 

LEAP options series and reduce 

potential for investor confusion because 

all new January LEAP options would be 

made available beginning at the same 

time, consistent with the amended 

OLPP. The Exchange notes that this 

proposal does not propose any new 

provisions that have not already been 

approved by the Commission in the 

amended OLPP, but instead maintains 

series listing rules that conform to the 

amended OLPP. 

The proposal to permit series to be 

added based on after-market trading is 

designed to promote just and equitable 

principles of trade, to foster cooperation 

and coordination with persons engaged 

in facilitating transactions in securities, 

and to remove impediments to and 

perfect the mechanisms of a free and 

open market and a national market 

system, by allowing the Exchange to 

make series available for trading with 

reduced operational difficulties. The 

Exchange notes that this proposed 

change, which is consistent with the 

amended OLPP should provide market 

participants with earlier notice 

regarding what options series will be 

available for trading the following day, 

and should help to enhance investors’ 

ability to plan their options trading. 

The Exchange also believes that the 

proposed technical changes, including 

adopting language to conform the rule 

text to clarify the operation of LEAPs, 

promotes just and equitable principles 

of trade (which aligns with approved 

rules of other options exchanges (see 

supra n. 11), foster cooperation and 

coordination with persons engaged in 

facilitating transactions in securities, 

and remove impediments to and perfect 

the mechanism of a free and open 

market and a national market system. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

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. Specifically, 

the Exchange believes that by 

conforming Exchange rules to the 

amended OLPP, the Exchange would 

promote regulatory clarity and 

consistency, thereby reducing burdens 

on the marketplace and facilitating 

investor protection. The Exchange 

believes that adopting rules, which it 

anticipates will likewise be adopted by 

Participant Exchanges, would allow for 

continued competition between 

Exchange market participants trading 

similar products as their counterparts 

on other exchanges, while at the same 

time allowing the Exchange to continue 

to compete for order flow with other 

exchanges in option issues. 

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 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 15 and Rule 

19b–4(f)(6) thereunder.16 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 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act and Rule 19b–4(f)(6)(iii) 

thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 17 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),18 the 

Commission may 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 proposal may 

become operative immediately upon 

filing. The Commission notes that the 

Exchange’s proposal would conform the 

Exchange’s rules to the amended OLPP, 

which the Commission previously 

approved.19 Accordingly, the 

Commission believes that the proposal 

raises no new or novel regulatory issues 

and waiver of the 30-day operative 

delay is consistent with the protection 

of investors and the public interest. The 

Commission therefore waives the 30-day 

operative delay and designates the 

proposed rule change to be operative 

upon filing.20

At any time within 60 days of the 

filing of such 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 

under Section 19(b)(2)(B) 21 of the Act to 

determine whether the proposed rule 

change 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: 


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42188 Federal Register / Vol. 83, No. 161 / Monday, August 20, 2018 / Notices 

22 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4NYSE Arca Rule 5.2–E(j)(3)(A) provides that an 

Investment Company Unit is a security that 

represents an interest in a registered investment 

company that holds securities comprising, or 

otherwise based on or representing an interest in, 

an index or portfolio of securities (or holds 

securities in another registered investment 

company that holds securities comprising, or 

otherwise based on or representing an interest in, 

an index or portfolio of securities). 

5See Post-Effective Amendment No. 65 to 

Registration Statement on Form N–1A for the Trust, 

dated June 26, 2018 (File Nos. 333–207937 and 

811–23108). The descriptions of the Fund and the 

Shares contained herein are based, in part, on 

information in the Registration Statement. In 

addition, the Commission has issued an order 

granting certain exemptive relief to the Trust under 

the Investment Company Act of 1940 (15 U.S.C. 

80a–1) (‘‘1940 Act’’). See Investment Company Act 

Release No. 31822 (September 14, 2015) (File No. 

812–14424) (‘‘Exemptive Order’’). 

6An investment adviser to an open-end fund is 

required to be registered under the Investment 

Advisers Act of 1940 (the ‘‘Advisers Act’’). As a 

result, the Adviser and Sub-adviser are subject to 

the provisions of Rule 204A–1 under the Advisers 

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– 

NYSEAMER–2018–40 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–NYSEAMER–2018–40. 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–NYSEAMER–2018–40 and 

should be submitted on or before 

September 10, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.22

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2018–17829 Filed 8–17–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83845; File No. SR– 

NYSEArca–2018–57] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing of Proposed 

Rule Change, as Modified by 

Amendment No. 1, To List and Trade 

Shares of the Amplify BlackSwan 

Growth & Treasury Core ETF Under 

Commentary .02 to NYSE Arca Rule 

5.2–E(j)(3) 

August 14, 2018. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that on July 31, 

2018, NYSE Arca, Inc. (‘‘NYSE Arca’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) a proposed rule 

change. On August 10, 2018, the 

Exchange filed Amendment No. 1 to the 

proposed rule change, as described in 

Items I and II below, which Items have 

been prepared by the Exchange. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change, as modified by Amendment No. 

1, from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to list and 

trade the shares of the following fund of 

the Amplify ETF Trust under 

Commentary .02 to NYSE Arca Rule 

5.2–E(j)(3) (‘‘Investment Company 

Units’’): the Amplify BlackSwan Growth 

& Treasury Core ETF. This Amendment 

No. 1 to SR–NYSEArca–2018–57 

replaces SR–NYSEArca–2018–57 as 

originally filed and supersedes such 

filing in its entirety. The proposed 

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, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to list and 

trade shares (‘‘Shares’’) of the Amplify 

BlackSwan Growth & Treasury Core ETF 

(‘‘Fund’’) under Commentary .02 to 

NYSE Arca Rule 5.2–E(j)(3), which 

governs the listing and trading of 

Investment Company Units (‘‘Units’’) on 

the Exchange.4 The Fund will be an 

index-based exchange traded fund 

(‘‘ETF’’). The Shares will be offered by 

the Amplify ETF Trust (‘‘Trust’’), which 

is registered with the Commission as an 

investment company and has filed a 

registration statement on Form N–1A 

(‘‘Registration Statement’’) with the 

Commission on behalf of the Fund.5

Amplify Investments LLC will be the 

investment adviser (‘‘Adviser’’) to the 

Fund. CSAT Investment Advisory, L.P., 

d/b/a Exponential ETFs will serve as 

sub-adviser for the Fund (‘‘SubAdviser’’). U.S. Bancorp Fund Services, 

LLC will be the administrator, custodian 

and fund accounting and transfer agent 

for the Fund. Quasar Distributors LLC 

will serve as the distributor for the 

Fund. 

Commentary .02(b)(i) to Rule 5.2– 

E(j)(3) provides that, if the applicable 

index is maintained by a broker-dealer 

or fund advisor, the broker-dealer or 

fund advisor shall erect and maintain a 

‘‘fire wall’’ around the personnel who 

have access to information concerning 

changes and adjustments to the index.6


daltland on DSKBBV9HB2PROD with NOTICES