69172 Federal Register / Vol. 79, No. 224 / Thursday, November 20, 2014 / Notices 

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

17 15 U.S.C. 78s(b)(3)(A)(ii). 

18 17 CFR 240.19b–4(f)(2). 

19 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. 72170 

(May 15, 2014), 79 FR 29231. 

4See Securities Exchange Act Release No. 72458, 

79 FR 36849 (Jun. 30, 2014). The Commission 

determined that it was appropriate to designate a 

longer period within which to take action on the 

proposed rule change so that it has sufficient time 

to consider the proposed rule change. Accordingly, 

the Commission designated August 19, 2014 as the 

date by which it should approve, disapprove, or 

institute proceedings to determine whether to 

disapprove the proposed rule change. 

5 15 U.S.C. 78s(b)(2)(B). 

Exchange believes the proposed fees 

and rebates are reasonable and equitable 

in light of the fact that Mini Options 

have a smaller exercise and assignment 

value, specifically 1/10th that of a 

standard option contract, and, as such, 

is providing fees and rebates for Mini 

Options that are 1/10th of those 

applicable to Standard Options. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

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

the Act,16 the Exchange does not believe 

that the proposed rule change will 

impose any burden on intermarket or 

intramarket competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

Exchange believes that eliminating 

special fees for Singly Listed Symbols 

will reduce the complexity of the 

Schedule of Fees to the benefit of 

members and investors, and will not 

have any competitive impact. In 

addition, the Exchange believes that the 

proposed modifications to its ADV 

calculation are pro-competitive and will 

result in lower total costs to end users, 

a positive outcome of competitive 

markets. The Exchange operates in a 

highly competitive market in which 

market participants can readily direct 

their order flow to competing venues. In 

such an environment, the Exchange 

must continually review, and consider 

adjusting, its fees and rebates to remain 

competitive with other exchanges. For 

the reasons described above, the 

Exchange believes that the proposed fee 

changes reflect this competitive 

environment. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange has not solicited, and 

does not intend to solicit, comments on 

this proposed rule change. The 

Exchange has not received any 

unsolicited written comments from 

members or other interested parties. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act 17 and 

subparagraph (f)(2) of Rule 19b–4 

thereunder,18 because it establishes a 

due, fee, or other charge imposed by 

ISE. 

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 

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– 

ISE–2014–51 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 SR–ISE–2014–51. 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 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 Number SR–ISE– 

2014–51, and should be submitted on or 

before December 11, 2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.19

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–27451 Filed 11–19–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73598; File No. SR– 

NYSEArca–2014–56] 

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 Relating to Listing and 

Trading of Shares of the PIMCO 

Income Exchange-Traded Fund Under 

NYSE Arca Equities Rule 8.600 

November 14, 2014. 

On May 1, 2014, NYSE Arca, Inc. 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 

PIMCO Income Exchange-Traded Fund 

under NYSE Arca Equities Rule 8.600. 

The proposed rule change was 

published for comment in the Federal 

Register on May 21, 2014.3 On June 24, 

2014, 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.4

On August 19, 2014, the Commission 

instituted proceedings under Section 

19(b)(2)(B) of the Act 5 to determine 

whether to approve or disapprove the 


rmajette on DSK2VPTVN1PROD with NOTICES
Federal Register / Vol. 79, No. 224 / Thursday, November 20, 2014 / Notices 69173 

6See Securities Exchange Act Release No. 72867, 

79 FR 50720 (Aug. 25, 2014). 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. 

7 15 U.S.C. 78s(b)(2). 

8See supra note 3 and accompanying text. 

9 15 U.S.C. 78s(b)(2). 

10 17 CFR 200.30–3(a)(57). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 73464 

(Oct. 29, 2014), 79 FR 65437. 5 15 U.S.C. 78s(b)(1). 

6 17 CFR 240.19b–4. 

7Amendment No. 2 replaces SR–NYSEArca– 

2014–120 and supersedes such filing in its entirety. 

Amendment No. 1 was filed on November 3, 2014 

and withdrawn on November 6, 2014. 

8Commentary .02 to NYSE Arca Equities Rule 

8.200 applies to Trust Issued Receipts that invest 

in ‘‘Financial Instruments.’’ The term ‘‘Financial 

Instruments,’’ as defined in Commentary .02(b)(4) to 

NYSE Arca Equities Rule 8.200, means any 

combination of investments, including cash; 

securities; options on securities and indices; futures 

contracts; options on futures contracts; forward 

contracts; equity caps, collars and floors; and swap 

agreements. 

9The Trust submitted a registration statement 

with respect to the Fund on Form S–1 under the 

Securities Act of 1933 (‘‘1933 Act’’) on October 7, 

2014 (File No. 333–199190) (the ‘‘Registration 

Statement’’). The description of the Fund and the 

Shares contained herein are based, in part, on the 

Registration Statement. 

10See, e.g., Securities Exchange Act Release No. 

58161 (July 15, 2008), 73 FR 42380 (July 21, 2008) 

(SR–Amex–2008–39). 

11See, e.g., Securities Exchange Act Release No. 

58163 (July 15, 2008), 73 FR 42391 (July 21, 2008) 

(SR–NYSEArca–2008–73). 

12See, e.g., Securities Exchange Act Release No. 

70209 (August 15, 2013), 78 FR 51269 (June 24, 

2013) (SR–NYSEArca–2013–60); Securities 

Exchange Act Release No. 58457 (September 3, 

2008), 73 FR 52711 (September 10, 2008) (SR– 

NYSEArca–2008–91). 

13See, e.g., Securities Exchange Act Release Nos. 

56131 (July 25, 2007), 77 FR 42212 (August 1, 2007) 

(SR–NYSEArca–2007–57) (order approving listing 

and trading on NYSE Arca of shares of eight issues 

Continued 

proposed rule change.6 The Commission 

received no comments on the proposed 

rule change. 

Section 19(b)(2) of the Act 7 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 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 that 

determination. The proposed rule 

change was published for notice and 

comment in the Federal Register on 

May 21, 2014.8 The 180th day after 

publication of the notice of the filing of 

the proposed rule change in the Federal 

Register is November 17, 2014, and the 

240th day after publication of the notice 

of the filing of the proposed rule change 

in the Federal Register is January 16, 

2015. 

The Commission finds it 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. 

Accordingly, the Commission, 

pursuant to Section 19(b)(2) of the Act,9

designates January 16, 2015 as the date 

by which the Commission shall either 

approve or disapprove the proposed 

rule change (File No. SR–NYSEArca– 

2014–56). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–27447 Filed 11–19–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73602; File No. SR– 

NYSEArca–2014–120] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing of 

Amendment No. 2 to Proposed Rule 

Change Relating to Listing and Trading 

Shares of the Sit Rising Rate Fund 

Under NYSE Arca Equities Rule 8.200 

November 14, 2014. 

On October 16, 2014, NYSE Arca, Inc. 

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

with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

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

Exchange Act of 1934 (‘‘Exchange 

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

proposed rule change to list and trade 

shares of the Sit Rising Rate Fund under 

NYSE Arca Equities Rule 8.200. The 

proposed rule change was published for 

comment in the Federal Register on 

November 4, 2014.4 The Commission 

received no comments on the proposal. 

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

Act 5 and Rule 19b–4 thereunder,6

notice is hereby given that, on 

November 6, 2014, the Exchange filed 

with the Commission Amendment No. 2 

to the proposed rule change, as 

described in Sections I and II below, 

which Sections have been prepared by 

the Exchange.7 The Commission is 

publishing this notice to solicit 

comments from interested persons on 

the proposed rule change, as modified 

by Amendment No. 2 thereto. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to list and 

trade shares of the Sit Rising Rate Fund 

under NYSE Arca Equities Rule 8.200. 

The text of 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 the 

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 

NYSE Arca Equities Rule 8.200, 

Commentary .02 permits the trading of 

Trust Issued Receipts (‘‘TIRs’’) either by 

listing or pursuant to unlisted trading 

privileges (‘‘UTP’’).8 The Exchange 

proposes to list and trade shares 

(‘‘Shares’’) of the Sit Rising Rate Fund 

(‘‘Fund’’) pursuant to NYSE Arca 

Equities Rule 8.200. The Fund is a series 

of the ETF Managers Group Commodity 

Trust I (the ‘‘Trust’’), a Delaware 

statutory trust.9

The Exchange notes that the 

Commission has previously approved 

the listing and trading of other issues of 

TIRs on the American Stock Exchange 

LLC,10 trading on NYSE Arca pursuant 

to UTP,11 and listing on NYSE Arca.12

In addition, the Commission has 

approved the listing and trading of other 

exchange-traded fund-like products 

linked to the performance of underlying 

currencies and commodities.13


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