Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices 8265 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

symbol shall automatically be reserved 

for such Party for 24 months, as further 

described in the Plan. The proposed 

amendments further clarify that, if the 

Party does not place the symbol on List 

A or use the symbol within 24 months, 

the symbol shall be released for use 

pursuant to subparagraph (b)(5). 

The amendment also proposes a new 

requirement. Specifically, that where a 

symbol has become available for reuse 

by a new Party (e.g., where a Party 

releases a symbol), such symbol may not 

be reused to identify a new security 

(other than the security that has been 

trading under such symbol) within 90 

calendar days from the last day of its 

use to identify the old security, without 

the consent of the Party that released the 

symbol pursuant to paragraph (b)(5) of 

Section IV. Thus, even where a symbol 

is not reserved for the Party most 

recently using the symbol, the amended 

Plan would continue to provide for a 

fair and orderly approach with regard to 

the reuse of the symbol. 

For example, the amendment would 

address situations where a Party had 

been using symbol WXYZ for a period 

of years to identify the security of a 

particular company and, following the 

dissolution of the company, symbol 

WXYZ is released by the Party that had 

been using it. Under the current Plan, 

the Party using WXYZ to identify the 

security of the dissolved company 

would have that symbol reserved for a 

period of 24 months, and, at any time 

within this 24-month period, pursuant 

to Section IV(b)(6) (Request for Release 

of a Symbol), any other Party may have 

requested the voluntary release of the 

symbol for reuse. The amendment to the 

Plan retains this same basic framework, 

but also explicitly addresses 

circumstances in which a Party does not 

reserve the symbol but elects to release 

the symbol pursuant to paragraph (b)(5), 

in which case the symbol becomes 

immediately available to be reused by 

another Party to identify a different 

security. Under the amendment to the 

Plan, at any time within 90 calendar 

days from the last day of its use to 

identify the old security, such symbol 

may not be reused to identify a new 

security unless the Party seeking to 

reuse the symbol obtains the consent of 

the Party that most recently released the 

symbol. The Party most recently 

releasing the symbol must reasonably 

determine that reuse would not cause 

investor confusion prior to providing its 

consent. 

As is the case today, at no time may 

a Party reuse a symbol unless the Party 

seeking the reuse also reasonably 

determines that such use would not 

cause investor confusion. In making a 

reasonable determination as to whether 

the reuse of a symbol would cause 

investor confusion, Parties would 

consider factors such as the level of 

recent activity in the old security, 

including trading frequency, volume 

and the number of market maker quotes. 

The Amendment also contains several 

technical and ministerial amendments. 

First, the Plan is being amended to 

update NSX’s principal place of 

business from its former address of 440 

South LaSalle Street, Suite 2600, 

Chicago, IL 60605 to its new address of 

101 Hudson Street, Suite 1200, Jersey 

City, NJ 07302. This Amendment also 

reflects a name change by one of the 

Parties. Specifically, the ‘‘NYSE 

Alternext US LLC’’ is now called ‘‘NYSE 

MKT LLC.’’ Finally, the Parties also are 

amending the Plan to update the 

principal place of business for both 

EDGA and EDGX from its former 

address at 545 Washington Blvd., Jersey 

City, NJ 07310 to 8050 Marshall Drive, 

Lenexa, KS 66214. 

The Parties believe that the 

Amendment provides for a fair and 

orderly approach that would be applied 

consistently by all Parties to facilitate 

investor protection, does not disparately 

affect any single Party, and thus, does 

not impose any burden on competition 

that is not necessary or appropriate in 

furtherance of the purposes of the Act. 

II. Implementation of Plan Amendment 

The Parties will implement the 

Amendment upon Commission 

approval. 

III. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the Amendment 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 

4–533 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Brent J. Fields, Secretary, Securities 

and Exchange Commission, 100 F Street 

NE., Washington, DC 20549–1090. 

All submissions should refer to File 

Number 4–533. 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 

Web site (http://www.sec.gov/rules/

sro.shtml). Copies of the submission, all 

subsequent amendments, all written 

statements with respect to the Plan that 

are filed with the Commission, and all 

written communications relating to the 

Plan 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 Web site 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 such 

filing also will be available for 

inspection and copying at the Parties’ 

principal offices. All comments received 

will be posted without change; the 

Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number 4–533, and 

should be submitted on or before March 

10, 2016. 

By the Commission. 

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2016–03275 Filed 2–17–16; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–77118; File No. SR– 

NYSEARCA–2016–04] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change to the Co-Location 

Services Offered by the Exchange To 

Include a Means for Co-Located Users 

To Receive the NASDAQ TotalView 

Ultra Market Data Feed Through a 

Wireless Connection and Reflect 

Changes to the NYSE Arca Equities 

Schedule of Fees and Charges for 

Exchange Services and the Options 

Fee Schedule 

February 11, 2016. 

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 February 

2, 2016, NYSE Arca, Inc. (the 

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

the Securities and Exchange 

mstockstill on DSK4VPTVN1PROD with NOTICES

8266 Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices 

4The Exchange initially filed rule changes 

relating to its co-location services with the 

Securities and Exchange Commission 

(‘‘Commission’’) in 2010. See Securities Exchange 

Act Release No. 63275 (November 8, 2010), 75 FR 

70048 (November 16, 2010) (SR–NYSEArca–2010– 

100). The Exchange operates a data center in 

Mahwah, New Jersey (the ‘‘data center’’) from 

which it provides co-location services to Users. 

5For purposes of the Exchange’s co-location 

services, a ‘‘User’’ means any market participant 

that requests to receive co-location services directly 

from the Exchange. See Securities Exchange Act 

Release No. 76010 (September 29, 2015), 80 FR 

60197 (October 5, 2015) (SR–NYSEArca–2015–82). 

As specified in the Fee Schedules, a User that 

incurs co-location fees for a particular co-location 

service pursuant thereto would not be subject to colocation fees for the same co-location service 

charged by the Exchange’s affiliates New York 

Stock Exchange LLC and NYSE MKT LLC. See 

Securities Exchange Act Release No. 70173 (August 

13, 2013), 78 FR 50459 (August 19, 2013) (SR– 

NYSEArca–2013–80). 

6See Securities Exchange Act Release No. 76749 

(December 23, 2015), 80 FR 81640 (December 30, 

2015) (SR–NYSEArca–2015–99) (‘‘Wireless 

Approval Release’’). 

7A User would only receive TotalView Ultra if it 

had entered into a contract with NASDAQ. 

8A User only requires one port to connect to the 

Third Party Data, irrespective of how many of the 

wireless connections it orders. It may, however, 

purchase additional ports. See Wireless Approval 

Release, at 81641. 

9Currently, at least four third party vendors offer 

Users wireless network connections using wireless 

equipment installed on towers and buildings near 

the data center. 

10The IP network is a local area network available 

in the data center. See Securities Exchange Act 

Release No. 74219 (February 6, 2015), 80 FR 7899 

(February 12, 2015) (SR–NYSEArca–2015–03) 

(notice of filing and immediate effectiveness of 

proposed rule change to include IP network 

connections). 

11As is currently the case, Users that receive colocation services from the Exchange will not receive 

any means of access to the Exchange’s trading and 

execution systems that is separate from, or superior 

to, that of other Users. In this regard, all orders sent 

to the Exchange enter the Exchange’s trading and 

execution systems through the same order gateway, 

regardless of whether the sender is co-located in the 

data center or not. In addition, co-located Users do 

not receive any market data or data service product 

that is not available to all Users, although Users that 

receive co-location services normally would expect 

reduced latencies in sending orders to, and 

receiving market data from, the Exchange. 

Commission (the ‘‘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 the Substance 

of the Proposed Rule Change 

The Exchange proposes to change the 

co-location services offered by the 

Exchange to include a means for colocated Users to receive the NASDAQ 

TotalView Ultra (FGPA) market data 

feed through a wireless connection. In 

addition, the proposed rule change 

reflects changes to the NYSE Arca 

Options Fee Schedule (the ‘‘Options Fee 

Schedule’’) and, through its wholly 

owned subsidiary NYSE Arca Equities, 

Inc. (‘‘NYSE Arca Equities’’), the NYSE 

Arca Equities Schedule of Fees and 

Charges for Exchange Services (the 

‘‘Equities Fee Schedule’’ and, together 

with the Options Fee Schedule, the ‘‘Fee 

Schedules’’) related to the proposed 

service. 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 

co-location 4 services—offered by the 

Exchange to include a means for Users 5

to receive the NASDAQ TotalView Ultra 

(FGPA) market data feed through a 

wireless connection. In addition, the 

proposed rule change reflects changes to 

the Fee Schedules related to the 

proposed service. 

The Commission has approved the 

Exchange’s proposed rule change to 

provide a wireless connection to five 

market data feeds from third party 

markets.6 The Exchange now proposes 

to add to the Fee Schedules a sixth 

market data feed, NASDAQ TotalView 

Ultra (FGPA) (‘‘TotalView Ultra’’ and, 

together with the previously filed five 

market data feeds, the ‘‘Third Party 

Data’’). 

As with the previously approved 

connectivity to Third Party Data through 

the wireless connection, the Exchange 

would utilize a network vendor to 

provide a wireless connection to 

TotalView Ultra through wireless 

connections from an Exchange access 

center to its data center in Mahwah, 

New Jersey, through a series of towers 

equipped with wireless equipment. To 

receive TotalView Ultra, the User would 

enter into a contract with NASDAQ, 

which would charge the User the 

applicable market data fees for 

TotalView Ultra. The Exchange would 

charge the User fees for the wireless 

connection to TotalView Ultra.7

For each wireless connection to 

TotalView Ultra, a User would be 

charged a $5,000 non-recurring initial 

charge and a monthly recurring charge 

(‘‘MRC’’) of $11,000. The Exchange 

proposes to revise the Fee Schedules to 

reflect fees related to the connection to 

TotalView Ultra. 

As with the previously approved 

wireless connections to Third Party 

Data, if a User purchased two wireless 

connections, it would pay two nonrecurring initial charges, and the 

wireless connection would include the 

use of one port for connectivity to Third 

Party Data.8 Also as with the previously 

approved wireless connections to Third 

Party Data, the Exchange proposes to 

waive the first month’s MRC, to allow 

Users to test the receipt of TotalView 

Ultra for a month before incurring any 

MRCs. 

The Exchange proposes to offer the 

wireless connection to provide Users 

with an alternative means of 

connectivity to TotalView Ultra. 

Currently, Users can receive TotalView 

Ultra from wireless networks offered by 

third party vendors.9 Users may also 

receive connections to TotalView Ultra 

through other methods, including, for 

example, from another User, through a 

telecommunications provider, or over 

the internet protocol (‘‘IP’’) network.10

The wireless connection to the Third 

Party Data is expected to be available in 

January 2016, and no later than March 

1, 2016. The Exchange will announce 

the date that the wireless connection to 

the Third Party Data will be available 

through a customer notice. 

As is the case with all Exchange colocation arrangements, (i) neither a User 

nor any of the User’s customers would 

be permitted to submit orders directly to 

the Exchange unless such User or 

customer is a member organization, a 

Sponsored Participant or an agent 

thereof (e.g., a service bureau providing 

order entry services); (ii) use of the colocation services proposed herein would 

be completely voluntary and available 

to all Users on a non-discriminatory 

basis; 11 and (iii) a User would only 

incur one charge for the particular colocation service described herein, 

regardless of whether the User connects 

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Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices 8267 

12See SR–NYSEArca–2013–80, supra note 5 at 

50459. The Exchange’s affiliates have also 

submitted substantially the same proposed rule 

change to propose the changes described herein. 

See SR–NYSE–2015–01 and SR–NYSEMKT–2015– 

02. 

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

14 15 U.S.C. 78f(b)(4), (5). 15 15 U.S.C. 78f(b)(4). 

only to the Exchange or to the Exchange 

and one or both of its affiliates.12

The proposed change is not otherwise 

intended to address any other issues 

relating to co-location services and/or 

related fees, and the Exchange is not 

aware of any problems that Users would 

have in complying with the proposed 

change. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,13 in general, and 

furthers the objectives of Sections 

6(b)(4) and 6(b)(5) of the Act,14 in 

particular, because 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 regulating, clearing, 

settling, processing information with 

respect to, and facilitating transactions 

in securities, to remove impediments to, 

and perfect the mechanisms of, a free 

and open market and a national market 

system and, in general, to protect 

investors and the public interest and 

because it is not designed to permit 

unfair discrimination between 

customers, issuers, brokers, or dealers. 

The Exchange believes that the 

proposed service is not designed to 

permit unfair discrimination between 

customers, issuers, brokers, or dealers 

because the wireless connection 

toTotalView Ultra would provide Users 

with an alternative means of 

connectivity to TotalView Ultra. Users 

that do not opt to utilize the Exchange’s 

proposed wireless connections would 

still be able to obtain TotalView Ultra 

through other methods, including, for 

example, from wireless networks offered 

by third party vendors, another User, 

through a telecommunications provider, 

or over the IP network. Users that opt 

to use wireless connections to 

TotalView Ultra would receive the 

TotalView Ultra that is available to all 

Users, as all market participants that 

contract with NASDAQ for TotalView 

Ultra may receive it. 

The Exchange believes that this 

removes impediments to, and perfects 

the mechanisms of, a free and open 

market and a national market system 

and, in general, protects investors and 

the public interest because it would 

provide Users with choices with respect 

to the form and optimal latency of the 

connectivity they use to receive 

TotalView Ultra, allowing a User that 

opts to receive TotalView Ultra to select 

the connectivity and number of ports 

that better suit its needs, helping it 

tailor its data center operations to the 

requirements of its business operations. 

The Exchange also believes that the 

proposed rule change is consistent with 

Section 6(b)(4) of the Act,15 in 

particular, because it provides for the 

equitable allocation of reasonable dues, 

fees, and other charges among its 

members, issuers and other persons 

using its facilities and does not unfairly 

discriminate between customers, 

issuers, brokers or dealers. 

The Exchange believes that the 

proposed change is equitable and not 

unfairly discriminatory because it will 

result in fees being charged only to 

Users that voluntarily select to receive 

the corresponding services and because 

those services will be available to all 

Users. Furthermore, the Exchange 

believes that the services and fees 

proposed herein are not unfairly 

discriminatory and are equitably 

allocated because, in addition to the 

services being completely voluntary, 

they are available to all Users on an 

equal basis (i.e., the same products and 

services are available to all Users). All 

Users that voluntarily select wireless 

connections to TotalView Ultra would 

be charged the same amount for the 

same services and would have their first 

month MRC for wireless connections 

waived. 

Overall, the Exchange believes that 

the proposed change is reasonable 

because the Exchange proposes to offer 

wireless connection to TotalView Ultra 

described herein as a convenience to 

Users, but in doing so would incur 

certain costs, including costs related to 

the data center facility, hardware and 

equipment and costs related to 

personnel required for initial 

installation and monitoring, support 

and maintenance of such services. The 

costs associated with the wireless 

connections are incrementally higher 

than fiber optics-based solutions due to 

the expense of the wireless equipment, 

cost of installation and testing and 

ongoing maintenance of the network. 

The Exchange believes that it is 

reasonable that a User that has already 

purchased wireless connections to other 

Third Party Data would be charged a 

non-recurring charge when it purchases 

a wireless connection to TotalView 

Ultra, because the Exchange would 

incur certain costs in installing the 

wireless connection to TotalView Ultra 

irrespective of whether the User had 

existing wireless connections to Third 

Party Data. Such costs related to initial 

installation include, in particular, costs 

related to personnel required for initial 

installation and testing. The costs 

associated with installing wireless 

connections are incrementally higher 

than those associated with installing 

fiber optics-based solutions. 

The Exchange believes that the 

proposed pricing for the wireless 

connection to TotalView Ultra is 

reasonable because it allows Users to 

select the TotalView Ultra connectivity 

option that better suits their needs. The 

fees also reflect the benefit received by 

Users in terms of lower latency over the 

fiber optics option. The Exchange 

believes that the proposed waiver of the 

first month’s MRC is reasonable as it 

would allow Users to test the receipt of 

the feed for a month before incurring 

any monthly recurring fees and may act 

as an incentive to Users to connect to 

TotalView Ultra. 

Moreover, the fees are equity [sic] 

allocated and not unfairly 

discriminatory because the wireless 

connection to TotalView Ultra would 

provide Users with an alternative means 

of connectivity to TotalView Ultra. 

Users that do not opt to utilize the 

Exchange’s proposed wireless 

connections would still be able to obtain 

TotalView Ultra through other methods, 

including, for example, from wireless 

networks offered by third party vendors, 

another User, through a 

telecommunications provider, or over 

the IP network. Users that opt to use 

wireless connections to TotalView Ultra 

would receive the TotalView Ultra that 

is available to all Users, as all market 

participants that contract with NASDAQ 

for TotalView Ultra may receive it. 

For the reasons above, the proposed 

changes do not unfairly discriminate 

between or among market participants 

that are otherwise capable of satisfying 

any applicable co-location fees, 

requirements, terms and conditions 

established from time to time by the 

Exchange. 

Finally, the Exchange believes that it 

is subject to significant competitive 

forces, as described below in the 

Exchange’s statement regarding the 

burden on competition. 

For these reasons, the Exchange 

believes that the proposed fees are 

reasonable, equitable, and not unfairly 

discriminatory. 

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8268 Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices 

16 15 U.S.C. 78f(b)(8). 

17The Exchange notes that the distance of a 

wireless network provider’s wireless equipment 

from the User is only one factor in determining 

overall latency. Other factors include the number of 

repeaters in the route, the number of switches the 

data has to travel through, and the millimeter wave 

and switch technology used. 

18 15 U.S.C. 78s(b)(3)(A)(iii). 

19 17 CFR 240.19b–4(f)(6). 

20 17 CFR 240.19b–4(f)(6). 

21 17 CFR 240.19b–4(f)(6)(iii). 

22 15 U.S.C. 78s(b)(2)(B). 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

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

the Act,16 the Exchange believes that the 

proposed rule change will not impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act because, in 

addition to the proposed services being 

completely voluntary, they are available 

to all Users on an equal basis (i.e. the 

same products and services are available 

to all Users). 

The Exchange believes that allowing 

Users to receive TotalView Ultra 

through a wireless connection will not 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act 

because such access will satisfy User 

demand for additional options for 

connectivity to TotalView Ultra. 

Currently, Users can receive TotalView 

Ultra from wireless networks offered by 

third party vendors. Based on the 

information available to it, the Exchange 

believes that its proposed wireless 

connection would provide data at the 

same or similar speed and at the same 

or similar cost as the other wireless 

networks. Accordingly, the proposed 

wireless connection to TotalView Ultra 

would provide Users with an additional 

wireless connectivity option, thereby 

enhancing competition. 

The Exchange notes that the proposed 

wireless connection to TotalView Ultra 

would compete not just with other 

wireless connections to TotalView 

Ultra, but also with fiber optic network 

connections to TotalView Ultra, which 

may be more attractive to some Users as 

they are more reliable and less 

susceptible to weather conditions. Users 

that do not opt to utilize wireless 

connections would be able to obtain 

TotalView Ultra through other methods, 

including, for example, from another 

User, through a telecommunications 

provider, or over the IP network. In this 

way, the proposed changes would 

enhance competition by helping Users 

tailor their connectivity to TotalView 

Ultra to the needs of their business 

operations by allowing them to select 

the form and optimal latency of the 

connectivity they use to receive 

TotalView Ultra that best suits their 

needs, helping them tailor their data 

center operations to the requirements of 

their business operations. 

The proposed wireless connection to 

TotalView Ultra would traverse wireless 

connections through a series of towers 

equipped with wireless equipment, 

including a pole on the grounds of the 

data center. The proposed wireless 

network would have exclusive rights to 

operate wireless equipment on the data 

center pole. The Exchange will not sell 

rights to third parties to operate wireless 

equipment on the pole, due to space 

limitations, security concerns, and the 

interference that would arise between 

equipment placed too closely together. 

In addition to space issues, there are 

contractual restrictions on the use of the 

roof that the Exchange has determined 

would not be met if it offered space on 

the roof for third party wireless 

equipment. Moreover, access to the pole 

or roof is not required for third parties 

to establish wireless networks that can 

compete with the Exchange’s proposed 

service, as witnessed by the existing 

wireless networks currently serving 

Users. Based on the information 

available to it, the Exchange believes 

that its proposed wireless connection to 

TotalView Ultra would provide data at 

the same or similar speed, and at the 

same or similar cost, as its proposed 

wireless connection [sic], thereby 

enhancing competition.17

Finally, the Exchange notes that it 

operates in a highly competitive market 

in which market participants can 

readily favor competing venues if they 

deem fee levels at a particular venue to 

be excessive. In such an environment, 

the Exchange must continually review, 

and consider adjusting, its services and 

related fees and credits to remain 

competitive with other exchanges. For 

the reasons described above, the 

Exchange believes that the proposed 

rule change reflects this competitive 

environment. 

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 18 and Rule 

19b–4(f)(6) thereunder.19 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) 20 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),21 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. 

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) 22 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 No. SR– 

NYSEARCA–2016–04 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 No. 

SR–NYSEARCA–2016–04. 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 

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Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices 8269 

23 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3A Managed Portfolio Share is a security that 

represents an interest in an investment company 

registered under the Investment Company Act of 

1940 (15 U.S.C. 80a–1) (‘‘1940 Act’’) organized as 

an open-end investment company or similar entity 

that invests in a portfolio of securities selected by 

its investment adviser consistent with its 

investment objectives and policies. In contrast, an 

open-end investment company that issues 

Investment Company Units, listed and traded on 

the Exchange under NYSE Arca Equities Rule 

5.2(j)(3) (‘‘Index ETFs’’), seeks to provide 

investment results that correspond generally to the 

price and yield performance of a specific foreign or 

domestic stock index, fixed income securities index 

or combination thereof. 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (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 Web site 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 such 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change; 

the Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File No. SR– 

NYSEARCA–2016–04, and should be 

submitted on or before March 10, 2016. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.23

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2016–03270 Filed 2–17–16; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–77117; File No. SR– 

NYSEArca–2016–08] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing of Proposed 

Rule Change To Adopt NYSE Arca 

Equities Rule 8.900 To Permit Listing 

and Trading of Managed Portfolio 

Shares and To Permit Listing and 

Trading of Shares of Fifteen Issues of 

the Precidian ETFs Trust 

February 11, 2016. 

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

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that, on January 

27, 2016, NYSE Arca, Inc. (‘‘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 Exchange. 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 adopt a 

new NYSE Arca Equities Rule 8.900 to 

permit it to list and trade Managed 

Portfolio Shares, which are shares of 

actively managed exchange-traded 

funds (‘‘ETFs’’) for which the portfolio 

is disclosed in accordance with 

standard mutual fund disclosure rules. 

In addition, the Exchange proposes to 

list and trade shares of the following 

under proposed NYSE Arca Equities 

Rule 8.900: Precidian U.S. Managed 

Volatility Fund; Precidian Strategic 

Value; Precidian Large Cap Value; 

Precidian Focused Dividend Strategy; 

Precidian U.S. Large Cap Growth; 

Precidian U.S. Core Equity; Precidian 

U.S. Mid Cap Growth; Precidian Total 

Return; Precidian High Dividend Yield; 

Precidian Small Cap Dividend Value; 

Precidian Multi-factor Small Cap Core; 

Precidian Multi-factor Small Cap 

Growth; Precidian Large Cap Core Plus 

130/30; Precidian Mid Cap Core Plus 

130/30; and Precidian Small Cap Core 

Plus 130/30. 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to add new 

NYSE Arca Equities Rule 8.900 for the 

purpose of permitting the listing and 

trading, or trading pursuant to unlisted 

trading privileges (‘‘UTP’’), of Managed 

Portfolio Shares, which are securities 

issued by an actively managed open-end 

investment management company.3 The 

Exchange also proposes to amend NYSE 

Arca Equities Rule 7.34 (Trading 

Sessions) to reference securities 

described in proposed NYSE Arca 

Equities Rule 8.900 in Rule 7.34(a)(3)(A) 

relating to securities traded in the Core 

Trading Session. 

In addition to the above-mentioned 

proposed rule changes, the Exchange 

proposes to list and trade shares 

(‘‘Shares’’) of the following under 

proposed NYSE Arca Equities Rule 

8.900: Precidian U.S. Managed 

Volatility Fund; Precidian Strategic 

Value; Precidian Large Cap Value; 

Precidian Focused Dividend Strategy; 

Precidian U.S. Large Cap Growth; 

Precidian U.S. Core Equity; Precidian 

U.S. Mid Cap Growth; Precidian Total 

Return; Precidian High Dividend Yield; 

Precidian Small Cap Dividend Value; 

Precidian Multi-factor Small Cap Core; 

Precidian Multi-factor Small Cap 

Growth; Precidian Large Cap Core Plus 

130/30; Precidian Mid Cap Core Plus 

130/30; and Precidian Small Cap Core 

Plus 130/30 (each, a ‘‘Fund’’ and, 

collectively, the ‘‘Funds’’). 

Proposed Listing Rules 

Proposed Rule 8.900 (a) provides that 

the Corporation will consider for 

trading, whether by listing or pursuant 

to UTP, Managed Portfolio Shares that 

meet the criteria of Rule 8.900. 

Proposed Rule 8.900 (b) provides that 

Rule 8.900 is applicable only to 

Managed Portfolio Shares and that, 

except to the extent inconsistent with 

Rule 8.900, or unless the context 

otherwise requires, the rules and 

procedures of the Corporation’s Board of 

Directors shall be applicable to the 

trading on the Corporation of such 

securities. Proposed Rule 8.900 (b) 

provides further that Managed Portfolio 

Shares are included within the 

definition of ‘‘security’’ or ‘‘securities’’ 

as such terms are used in the Rules of 

the Corporation. 

Proposed Definitions. Proposed Rule 

8.900(c)(1) defines the term ‘‘Managed 

mstockstill on DSK4VPTVN1PROD with NOTICES