6084 Federal Register / Vol. 81, No. 23 / Thursday, February 4, 2016 / Notices 

Chapter 4 (Business Conduct), Chapter 5 (Securities 

Traded on the Exchange), Chapter 6 (Doing 

Business with the Public), Chapter 10 (Closing 

Transactions), Chapter 11 (Exercises and 

Deliveries), Chapter 12 (Margins), Chapter 13 (Net 

Capital Requirements), Chapter 14 (Records, 

Reports and Audits), Chapter 15 (Summary 

Suspension), Chapter 16 (Discipline), Chapter 17 

(Hearings and Review), Chapter 18 (Arbitration), 

Chapter 19 (Order Protection; Locked and Crossed 

Markets), Chapter 20 (Index Rules), Chapter 22 

(Rate-Modified Foreign Currency Options Rules). 

The following rules are cross-referenced in the ISE 

rules: ISE Rule 1202 (Margin Requirements) crossreferences the same CBOE and NYSE rules that may 

be in effect from time to time; ISE Rule 1615 

(Disciplinary Functions) cross-references the FINRA 

Code of Procedure and ISE Rule 1800 crossreferences the 12000 and 13000 Series of the FINRA 

Manual and FINRA Rule 2268. 

327 17 CFR 240.0–12. 

328See Letter from Michael Simon, General 

Counsel, Secretary and Chief Regulatory Officer, 

ISE Mercury, to Brent J. Fields, Secretary, 

Commission, dated June 26, 2015. 

329See id. 

330 ISE Mercury will provide such notice through 

a posting on the same Web site location where ISE 

Mercury posts its own rule filings pursuant to Rule 

19b–4 under the Act, within the required time 

frame. The Web site posting will include a link to 

the location on the FINRA, ISE, CBOE or NYSE Web 

site where FINRA, ISE, CBOE or NYSE’s proposed 

rule change is posted. See id. 

331See, e.g., BATS Order, supra note 27, C2 

Order, supra note 159, Nasdaq Order, supra note 

27, and NOM Approval Order, supra note 154. 332 15 U.S.C. 78mm. 

ISE Mercury rules, ISE Mercury 

members will comply with an ISE 

Mercury rule by complying with the 

referenced ISE, CBOE, NYSE or FINRA 

rule. 

In connection with the proposal to 

incorporate ISE, CBOE, NYSE and 

FINRA rules by reference, ISE Mercury 

requests, pursuant to Rule 240.0–12 

under the Act,327 an exemption under 

Section 36 of the Act from the rule filing 

requirements of Section 19(b) of the Act 

for changes to the ISE Mercury rules 

that are effected solely by virtue of a 

change to a cross-referenced ISE, CBOE, 

NYSE or FINRA rule.328 ISE Mercury 

proposes to incorporate by reference 

categories of rules, rather than 

individual rules within a category, that 

are not trading rules. In addition, ISE 

Mercury agrees to provide written 

notice to its members whenever FINRA, 

ISE, CBOE or NYSE proposes a change 

to a cross-referenced rule 329 and 

whenever any such proposed changes 

are approved by the Commission or 

otherwise become effective.330

Using the authority under Section 36 

of the Act, the Commission previously 

exempted certain SROs from the 

requirement to file proposed rule 

changes under Section 19(b) of the 

Act.331 The Commission is hereby 

granting ISE Mercury’s request for 

exemption, pursuant to Section 36 of 

the Act, from the rule filing 

requirements of Section 19(b) of the Act 

with respect to the rules that ISE 

Mercury proposes to incorporate by 

reference. The exemption is conditioned 

upon ISE Mercury providing written 

notice to ISE Mercury members 

whenever FINRA, ISE, CBOE or NYSE 

proposes to change an incorporated by 

reference rule and when the 

Commission approves any such 

changes. The Commission believes that 

the exemption is appropriate in the 

public interest and consistent with the 

protection of investors because it will 

promote more efficient use of 

Commission’s and SROs’ resources by 

avoiding duplicative rule filings based 

on simultaneous changes to identical 

rule text sought to be implemented by 

more than one SRO. 

IV. Conclusion 

IT IS ORDERED that the application 

of ISE Mercury for registration as a 

national securities exchange be, and it 

hereby is, granted. 

IT IS FURTHERED ORDERED that 

operation of ISE Mercury is conditioned 

on the satisfaction of the requirements 

below: 

A. Participation in National Market 

System Plans Relating to Options 

Trading. ISE Mercury must join: (1) The 

Plan for the Reporting of Consolidated 

Options Last Sale Reports and 

Quotation Information (Options Price 

Reporting Authority); (2) the OLPP; (3) 

the Linkage Plan; and (4) the Plan of the 

Options Regulatory Surveillance 

Authority. 

B. Participation in Multiparty Rule 

17d–2 Plans. ISE Mercury must become 

a party to the multiparty Rule 17d–2 

agreements concerning options sales 

practice regulation and market 

surveillance. 

C. Participation in the Options 

Clearing Corporation. ISE Mercury must 

become an Options Clearing 

Corporation participant exchange. 

D. Participation in the Intermarket 

Surveillance Group. ISE Mercury must 

join the Intermarket Surveillance Group. 

It is further ordered, pursuant to 

Section 36 of the Act,332 that ISE 

Mercury shall be exempted from the 

rule filing requirements of Section 19(b) 

of the Act with respect to the FINRA, 

ISE, CBOE and NYSE rules that ISE 

Mercury proposes to incorporate by 

reference, subject to the conditions 

specified in this order that ISE Mercury 

provide written notice to ISE Mercury 

members whenever FINRA, ISE, CBOE 

or NYSE propose to change an 

incorporated by reference rule and 

when the Commission approves any 

such changes. 

By the Commission. 

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2016–02061 Filed 2–3–16; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. IC–31974 ] 

Notice of Applications for 

Deregistration Under Section 8(f) of the 

Investment Company Act of 1940 

January 29, 2016. 

The following is a notice of 

applications for deregistration under 

section 8(f) of the Investment Company 

Act of 1940 for the month of January 

2016. A copy of each application may be 

obtained via the Commission’s Web site 

by searching for the file number, or for 

an applicant using the Company name 

box, at http://www.sec.gov/search/

search.htm or by calling (202) 551– 

8090. An order granting each 

application will be issued unless the 

SEC orders a hearing. Interested persons 

may request a hearing on any 

application by writing to the SEC’s 

Secretary at the address below and 

serving the relevant applicant with a 

copy of the request, personally or by 

mail. Hearing requests should be 

received by the SEC by 5:30 p.m. on 

February 23, 2016, and should be 

accompanied by proof of service on 

applicants, in the form of an affidavit or, 

for lawyers, a certificate of service. 

Pursuant to Rule 0–5 under the Act, 

hearing requests should state the nature 

of the writer’s interest, any facts bearing 

upon the desirability of a hearing on the 

matter, the reason for the request, and 

the issues contested. Persons who wish 

to be notified of a hearing may request 

notification by writing to the 

Commission’s Secretary. 

ADDRESSES: The Commission: Secretary, 

U.S. Securities and Exchange 

Commission, 100 F Street NE., 

Washington, DC 20549–1090. 

FOR FURTHER INFORMATION CONTACT: 

Jessica Shin, Law Clerk, at (202) 551– 

5921 or Chief Counsel’s Office at (202) 

551–6821; SEC, Division of Investment 

Management, Chief Counsel’s Office, 

100 F Street NE., Washington, DC 

20549–8010. 

GAI Mesirow Insight Fund, LLC [File 

No. 811–22221] 

Summary: Applicant, a closed-end 

investment company, seeks an order 

declaring that it has ceased to be an 


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Federal Register / Vol. 81, No. 23 / Thursday, February 4, 2016 / Notices 6085 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4The Exchange originally filed to amend the Fee 

Schedule on January 4, 2016 (SR–NYSEArca–2016– 

05) and withdrew such filing on January 14, 2016. 

The Exchange subsequently filed to amend the Fee 

Schedule on January 14, 2016 (SR–NYSEArca– 

2016–12) and withdrew such filing on January 28, 

2016. 

5The OCC provides volume information in two 

product categories: Equity and ETF volume and 

index volume, and the information can be filtered 

to show only Customer, firm, or market maker 

account type. Equity and ETF Customer volume 

numbers are available directly from the OCC each 

Continued 

investment company. Applicant has 

transferred its assets to GAI Corbin 

Multi-Strategy Fund, LLC and, on 

December 31, 2015, made a final 

distribution to its shareholders based on 

net asset value. Expenses of $150,231 

incurred in connection with the 

reorganization were paid by applicant 

and the acquiring fund. 

Filing Dates: The application was 

filed on January 6, 2016, and amended 

on January 7, 2016. 

Applicant’s Address: 401 South Tryon 

Street, Charlotte, North Carolina 28202. 

Federated Enhanced Treasury Income 

Fund [File No. 811–22098] 

Summary: Applicant, a closed-end 

investment company, seeks an order 

declaring that it has ceased to be an 

investment company. Applicant has 

transferred its assets to Federated 

Enhanced Treasury Income Fund, a 

portfolio of Federated Income Securities 

Trust, and, on October 23, 2015, made 

a final distribution to its shareholders 

based on net asset value. Expenses of 

$161,790 incurred in connection with 

the reorganization were paid by 

applicant and the acquiring fund. 

Filing Dates: The application was 

filed on January 21, 2016. 

Applicant’s Address: 4000 Ericsson 

Drive, Warrendale, Pennsylvania 15086. 

Nuveen New York Dividend Advantage 

Municipal Fund 2 [811–10253] 

Summary: Applicant, a closed-end 

investment company, seeks an order 

declaring that it has ceased to be an 

investment company. The applicant has 

transferred its assets to Nuveen New 

York Dividend Advantage Municipal 

Fund and, on May 26, 2015, made a 

final distribution to its shareholders 

based on net asset value. Expenses of 

$620,000 incurred in connection with 

the reorganization were paid by 

applicant and $285,000 were paid by 

the acquiring fund. 

Filing Dates: The application was 

filed on January 22, 2016. 

Applicant’s Address: 333 West 

Wacker Drive, Chicago, Illinois 60606. 

EGA Frontier Diversified Core Fund 

[811–22782] 

Summary: Applicant, a closed-end 

investment company, seeks an order 

declaring that it has ceased to be an 

investment company. On October 16, 

2015, applicant made a liquidating 

distribution to its shareholders, based 

on net asset value. Expenses of $14,813 

incurred in connection with the 

liquidation were paid by the applicant’s 

investment adviser. 

Filing Dates: The application was 

filed on January 27, 2016. 

Applicant’s Address: 155 West 19th 

Street, New York, New York 10011. 

For the Commission, by the Division of 

Investment Management, pursuant to 

delegated authority. 

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2016–02064 Filed 2–3–16; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–77000; File No. SR– 

NYSEARCA–2016–22] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending the NYSE Arca 

Equities Schedule of Fees and 

Charges for Exchange Services 

January 29, 2016. 

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 January 

28, 2016, NYSE Arca, Inc. (the 

‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the selfregulatory 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 the 

NYSE Arca Equities Schedule of Fees 

and Charges for Exchange Services. The 

proposed rule change is available on the 

Exchange’s Web site 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to change the 

fees and credits for Cross Asset Tier 2 

in the Fee Schedule. Specifically, for 

securities with a per share price $1.00 

or above, the Exchange proposes to: (1) 

Replace the numeric benchmark needed 

to be eligible for the tier with a 

benchmark based on a percentage of 

options contract volume, and (2) 

provide a second way to qualify for the 

Cross Asset Tier 2 credits for orders that 

provide liquidity to the Exchange. The 

Exchange proposes to implement the fee 

changes effective January 28, 2016.4

Currently, Cross Asset Tier 2 fees and 

credits apply to ETP Holders and 

Market Makers that (a) provide liquidity 

an average daily volume share per 

month of 0.30% or more of the US 

Consolidated Average Daily Volume 

(‘‘CADV’’), and (b) are affiliated with an 

OTP Holder or OTP Firm that provides 

an ADV of electronic posted executions 

for the account of a market maker in 

Penny Pilot issues on NYSE Arca 

Options (excluding mini options) of at 

least 90,000 contracts. Such ETP 

Holders and Market Makers receive a 

credit of $0.0031 per share for orders 

that provide liquidity to the order book 

in Tape A Securities; a credit of $0.0030 

per share for providing liquidity to the 

order book and a fee of $0.0028 per 

share for taking liquidity from the order 

book in Tape B Securities; and a credit 

of $0.0033 per share for providing 

liquidity to the order book and a fee of 

$0.0029 per share for taking liquidity 

from the order book in Tape C 

Securities. 

The Exchange proposes to replace the 

current fixed 90,000 contract 

requirement with a variable requirement 

of at least 0.75% of total Customer 

equity and exchange-traded fund 

(‘‘ETF’’) option ADV, as reported by the 

Options Clearing Corporation (‘‘OCC’’).5


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