Federal Register / Vol. 80, No. 58 / Thursday, March 26, 2015 / Notices 16047 

10 15 U.S.C. 78f(b)(5). 

11See Notice, supra note 3, at 7517. 

12 Id. 

13 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 73141 

(Sept. 18, 2014), 79 FR 57161 (‘‘Notice’’). 

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

5See Securities Exchange Act Release No. 73515, 

79 FR 66758 (Nov. 10, 2014). The Commission 

designated a longer period within which to take 

action on the proposed rule change and designated 

December 23, 2014 as the date by which it should 

approve, disapprove, or institute proceedings to 

determine whether to disapprove the proposed rule 

change. 

6 15 U.S.C. 78s(b)(2)(B). 

7See Securities Exchange Act Release No. 73914, 

79 FR 78524 (Dec. 30, 2014) (‘‘Order Instituting 

Proceedings’’). Specifically, the Commission 

instituted proceedings to allow for additional 

analysis of the proposed rule change’s consistency 

with Section 6(b)(5) of the Act, which requires, 

among other things, that the rules of a national 

securities exchange be ‘‘designed to prevent 

fraudulent and manipulative acts and practices, to 

promote just and equitable principles of trade,’’ and 

‘‘to protect investors and the public interest.’’ See 

id., 79 FR at 78530. 

8See id. (specifically soliciting comment on the 

statements of the Exchange contained in the Notice, 

including the statements made in connection with 

information sharing procedures with respect to 

certain non-U.S. equity security holdings and the 

Exchange’s arguments regarding the applicability of 

the definition of ‘‘Actively-Traded Securities’’ 

under Regulation M (‘‘Reg M’’)). 

9See Letter from Martha Redding, Senior Counsel 

and Assistant Secretary, New York Stock Exchange, 

to Kevin M. O’Neill, Deputy Secretary, Commission 

(dated Jan. 22, 2015). Amendment No. 1 replaces 

and supersedes SR–NYSEArca–2014–100 in its 

entirety as originally filed. In Amendment No. 1, 

the Exchange: (a) Deletes the statement in the 

original filing that the exchange-listed and traded 

equity securities in which the Fund’s portfolio 

would be permitted to invest would be limited to: 

(1) Equity securities that trade in markets that are 

members of the Intermarket Surveillance Group 

(‘‘ISG’’) or are parties to a comprehensive 

surveillance sharing agreement (‘‘CSSA’’) with the 

Exchange, or (2) ‘‘Actively-Traded Securities’’ as 

defined in Reg M under the Act that are traded on 

U.S. and non-U.S. exchanges with last sale 

reporting; (b) represents that the Fund’s non-U.S. 

equity securities holdings will be subject 

quantitative criteria that are substantially identical 

to the ‘‘generic’’ listing criteria in NYSE Arca 

Equities Rule 5.2(j)(3), Commentary .01(a)(B), 

relating to an index or portfolio of U.S. and nonU.S. stocks underlying a series of Investment 

Company Units; and (c) deletes discussion relating 

to information sharing procedures in the absence of 

CSSAs with, or ISG membership of, markets on 

which ‘‘Actively-Traded Securities’’ are listed or 

traded. 

10 15 U.S.C. 78s(b)(2). 

11See supra note 3 and accompanying text. 

12 15 U.S.C. 78s(b)(2). 

13 17 CFR 200.30–3(a)(57). 

6(b)(5) of the Act,10 which requires, 

among other things, that the rules of a 

national securities exchange be 

designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, 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. The 

Commission notes that the proposed 

rule change maintains the current 

allocation and priority rules for open 

outcry trading, including the complex 

order priority exception, and that any 

orders represented to the crowd at a 

customer’s total order price will execute 

in accordance with the Exchange’s 

current allocation and priority rules.11

Further, the Commission notes that 

orders represented to the crowd at a 

customer’s order price will be executed 

at the applicable increment for the class 

(or the complex order minimum 

increment if eligible) and in accordance 

with all other pricing rules.12

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–06886 Filed 3–25–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74559; File No. SR– 

NYSEArca–2014–100] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Designation of a 

Longer Period for Commission Action 

on Proceedings To Determine Whether 

To Approve or Disapprove a Proposed 

Rule Change, as Modified by 

Amendment No. 1 Thereto, Relating To 

Listing and Trading of Shares of the 

SPDR SSgA Global Managed Volatility 

ETF Under NYSE Arca Equities Rule 

8.600 

March 20, 2015. 

On September 5, 2014, NYSE Arca, 

Inc. (‘‘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 

list and trade shares of the SPDR SSgA 

Global Managed Volatility ETF 

(‘‘Fund’’) under NYSE Arca Equities 

Rule 8.600. The proposed rule change 

was published for comment in the 

Federal Register on September 24, 

2014.3 On November 4, 2014, pursuant 

to Section 19(b)(2) of the Act,4 the 

Commission designated a longer period 

within which to approve the proposed 

rule change, disapprove the proposed 

rule change, or institute proceedings to 

determine whether to disapprove the 

proposed rule change.5 On December 

22, 2014, the Commission instituted 

proceedings under Section 19(b)(2)(B) of 

the Act 6 to determine whether to 

approve or disapprove the proposed 

rule change.7 In the Order Instituting 

Proceedings, the Commission solicited 

responses to specified matters related to 

the proposal.8 The Commission received 

no comment letters on the proposed rule 

change. The Exchange subsequently 

filed Amendment No. 1 to the proposed 

rule change.9

Section 19(b)(2) of the Act 10 provides 

that, after initiating disapproval 

proceedings, the Commission shall issue 

an order approving or disapproving the 

proposed rule change not later than 180 

days after the date of publication of 

notice of the filing of the proposed rule 

change. The Commission may, however, 

extend the period for issuing an order 

approving or disapproving the proposed 

rule change by not more than 60 days 

if the Commission determines that a 

longer period is appropriate and 

publishes the reasons for such 

determination. The proposed rule 

change was published for notice and 

comment in the Federal Register on 

September 24, 2014.11 The 180th day 

after publication of the notice of the 

filing of the proposed rule change in the 

Federal Register is March 23, 2015. 

The Commission finds that it is 

appropriate to designate a longer period 

within which to issue an order 

approving or disapproving the proposed 

rule change so that it has sufficient time 

to consider the proposed rule change, as 

modified by Amendment No. 1 thereto. 

Accordingly, the Commission, 

pursuant to Section 19(b)(2) of the 

Act,12 designates May 7, 2015, as the 

date by which the Commission shall 

either approve or disapprove the 

proposed rule change, as modified by 

Amendment No. 1 thereto (File No. SR– 

NYSEArca–2014–100). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–06892 Filed 3–25–15; 8:45 am] 

BILLING CODE 8011–01–P 

mstockstill on DSK4VPTVN1PROD with NOTICES