38972 Federal Register / Vol. 82, No. 157 / Wednesday, August 16, 2017 / Notices 

25 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(2). 

5The term ‘‘Member’’ is defined as ‘‘any 

registered broker or dealer that has been admitted 

to membership in the Exchange.’’ See Exchange 

Rule 1.5(n). 

6The Exchange does not propose to amend the 

fees for orders yielding fee code RT in securities 

priced below $1.00. 

7See Exchange Rule 11.11(g)(3). 

8The term ‘‘System’’ is defined as the electronic 

communications and trading facility designated by 

the Board through which securities orders of Users 

are consolidated for ranking, execution and, when 

applicable, routing away. See Exchange Rule 

1.5(cc). 

9The System Routing Table refers to the 

proprietary process for determining the specific 

trading venues to which the System routes orders 

and the order in which it routes them. See 

Exchange Rule 11.11(g). See also Exchange Rule 

11.11(g)(3). 

10By way of background, on May 1, 2017, the 

Exchange previously charged $0.00250 per share for 

orders in securities priced at or above $1.00 that 

yield fee code RT. See Securities Exchange Act 

Release Nos. 80653 (May 11, 2017), 82 FR 22685 

(May 17, 2017) (SR–BatsEDGA–2017–12); and 

79305 (November 14, 2016), 81 FR 81892 

(November 18, 2016) (SR–BatsEDGA–2016–26). 

11 15 U.S.C. 78f. 

12 15 U.S.C. 78f(b)(4). 

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–MIAX– 

2017–40, and should be submitted on or 

before September 6, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.25

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2017–17277 Filed 8–15–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81369; File No. SR– 

BatsEDGA–2017–20] 

Self-Regulatory Organizations; Bats 

EDGA Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change Related to Fees 

for Use on Bats EDGA Exchange, Inc. 

August 10, 2017 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that on July 31, 

2017, Bats EDGA Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘EDGA’’) 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 Exchange has 

designated the proposed rule change as 

one establishing or changing a member 

due, fee, or other charge imposed by the 

Exchange under Section 19(b)(3)(A)(ii) 

of the Act 3 and Rule 19b–4(f)(2) 

thereunder,4 which renders the 

proposed rule change effective upon 

filing with the Commission. 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 filed a proposal to 

amend the fee schedule applicable to 

Members 5 and non-Members of the 

Exchange pursuant to EDGA Rules 

15.1(a) and (c). 

The text of the proposed rule change 

is available at the Exchange’s Web site 

at www.bats.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 

Exchange 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 these 

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 amend its 

fee schedule to increase the fee for 

orders in securities priced at or above 

$1.00 that yield fee code RT.6 Fee code 

RT is appended to orders that are routed 

using a ROUT 7 routing strategy. ROUT 

is a routing strategy that checks the 

System 8 for available shares and it then 

sent to destinations on the System 

Routing Table.9 The Exchange proposes 

to increase the fee charged for orders 

that yield fee code RT from $0.00250 to 

$0.00260 per share. The Exchange 

proposes to implement this amendment 

to its fee schedule August 1, 2017.10

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the objectives of Section 6 of the Act,11

in general, and furthers the objectives of 

Section 6(b)(4),12 in particular, as it is 

designed to provide for the equitable 

allocation of reasonable dues, fees and 

other charges among its Members and 

other persons using its facilities. 

The Exchange believes that its 

proposal to increase the fee for orders 

that yield fee code RT represents an 

equitable allocation of reasonable dues, 

fees, and other charges among Members 

and other persons using its facilities in 

that they are designed in part to cover 

the costs of routing. While the affected 

Members’ orders will be charged higher 

fees due to the proposal, the increased 

revenue received by the Exchange will 

be used to fund the Exchange generally, 

including the cost of maintaining and 

improving the technology used to 

handle and route orders from the 

Exchange as well as programs that the 

Exchange believes help to attract 

additional liquidity and thus improve 

the depth of liquidity available on the 

Exchange. Accordingly, although the 

cost of routing is increasing, the 

Exchange believes that he increase is 

modest and that higher routing fees will 

benefit Members in other ways. 

Furthermore, the Exchange notes that 

routing through the Exchange is 

voluntary. Lastly, the Exchange also 

believes that the proposed amendment 

is non-discriminatory because it applies 

uniformly to all Members. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

This proposed rule change does not 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

The Exchange does not believe that the 


asabaliauskas on DSKBBXCHB2PROD with NOTICES
Federal Register / Vol. 82, No. 157 / Wednesday, August 16, 2017 / Notices 38973 

13 15 U.S.C. 78s(b)(3)(A). 14 17 CFR 240.19b–4(f). 

15 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. 

3Managed Trust Security means a security that is 

registered under the Securities Act of 1933 (15 

U.S.C. 77a), as amended (the ‘‘Securities Act’’), is 

issued by a trust that (1) is a commodity pool as 

defined in the Commodity Exchange Act (7 U.S.C. 

1) (the ‘‘CEA’’), and that is managed by a 

commodity pool operator registered with the 

Commodity Futures Trading Commission (the 

‘‘CFTC’’), and (2) holds long and/or short positions 

in exchange-traded futures contracts and/or certain 

Continued 

change to fee code RT represents a 

significant departure from previous 

pricing offered by the Exchange or from 

pricing offered by the Exchange’s 

competitors. Additionally, Members 

may opt to disfavor the Exchange’s 

pricing if they believe that alternatives 

offer them better value. Accordingly, the 

Exchange does not believe that the 

proposed changes will impair the ability 

of Members or competing venues to 

maintain their competitive standing in 

the financial markets. The Exchange 

believes that its proposal would not 

burden intramarket competition because 

the proposed rates would apply 

uniformly to all Members. 

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 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) 

of the Act 13 and paragraph (f) of Rule 

19b–4 thereunder.14 At any time within 

60 days of the filing of the 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. 

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– 

BatsEDGA–2017–20 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–BatsEDGA–2017–20. 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 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; 

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–BatsEDGA– 

2017–20, and should be submitted on or 

before September 6, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2017–17274 Filed 8–15–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81373; File No. SR– 

NYSEArca–2017–85] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing of Proposed 

Rule Change To Amend NYSE Arca 

Equities Rule 8.700 To Reference 

EURO STOXX 50 Volatility Index 

Futures and To List and Trade Shares 

of the ProShares European Volatility 

Futures ETF 

August 10, 2017. 

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 28, 

2017, NYSE Arca, Inc. (‘‘Exchange’’ or 

‘‘NYSE Arca’’) 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 

NYSE Arca Equities Rule 8.700 to add 

EURO STOXX 50 Volatility Index 

(VSTOXX®) futures to the financial 

instruments that an issue of Managed 

Trust Securities may hold; and (2) to list 

and trade shares of the ProShares 

European Volatility Futures ETF under 

proposed amended NYSE Arca Equities 

Rule 8.700. The proposed 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 

NYSE Arca Equities Rule 8.700 

permits the trading of Managed Trust 

Securities either by listing or pursuant 

to unlisted trading privileges (‘‘UTP’’).3


asabaliauskas on DSKBBXCHB2PROD with NOTICES