Federal Register / Vol. 82, No. 191 / Wednesday, October 4, 2017 / Notices 46315 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 81388 

(August 14, 2017), 82 FR 39477. 

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

5 Id. 

6 17 CFR 200.30–3(a)(31). 

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

2 17 CFR 240.19b–4. 

3The term ‘‘ABBO’’ or ‘‘Away Best Bid or Offer’’ 

means the best bid(s) or offer(s) disseminated by 

other Eligible Exchanges and calculated by the 

Exchange based on market information received by 

the Exchange from OPRA. See Exchange Rule 100. 

4A Route Timer is a brief timer that operates as 

a pause before marketable interest is routed to an 

away exchange. See Exchange Rule 529(b)(2)(i). 

5The term ‘‘Public Customer’’ means a person 

that is not a broker or dealer in securities. See 

Exchange Rule 100. 

6See Exchange Rule 529(b). 

7The term ‘‘Market Makers’’ refers to ‘‘Lead 

Market Makers’’, ‘‘Primary Lead Market Makers’’ 

Continued 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81746; File No. SR– 

NYSEArca–2017–69] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Designation of a 

Longer Period for Commission Action 

on a Proposed Rule Change To List 

and Trade Shares of ProShares 

QuadPro Funds Under Commentary 

.02 to NYSE Arca Equities Rule 8.200 

September 28, 2017. 

On July 31, 2017, 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 

ProShares QuadPro U.S. Large Cap 

Futures Long Fund, ProShares QuadPro 

U.S. Large Cap Futures Short Fund, 

ProShares QuadPro U.S. Small Cap 

Futures Long Fund, and ProShares 

QuadPro U.S. Small Cap Futures Short 

Fund under Commentary .02 to NYSE 

Arca Equities Rule 8.200. The proposed 

rule change was published for comment 

in the Federal Register on August 18, 

2017.3 The Commission received no 

comments on the proposed rule change. 

Section 19(b)(2) of the Act 4 provides 

that, within 45 days of the publication 

of notice of the filing of a proposed rule 

change, or within such longer period up 

to 90 days as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or as to which the 

self-regulatory organization consents, 

the Commission shall either approve the 

proposed rule change, disapprove the 

proposed rule change, or institute 

proceedings to determine whether the 

proposed rule change should be 

disapproved. The 45th day after 

publication of the notice for this 

proposed rule change is October 2, 

2017. The Commission is extending this 

45-day time period. 

The Commission finds that it is 

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, pursuant to Section 

19(b)(2) of the Act,5 designates 

November 16, 2017, as the date by 

which the Commission shall either 

approve or disapprove or institute 

proceedings to determine whether to 

disapprove the proposed rule change 

(File Number SR–NYSEArca–2017–69). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–21274 Filed 10–3–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81753; File No. SR–MIAX– 

2017–41] 

Self-Regulatory Organizations; Miami 

International Securities Exchange LLC; 

Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change To Amend MIAX Options Rule 

529, Order Routing to Other 

Exchanges 

September 28, 2017. 

Pursuant to the provisions of 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 September 20, 2017, Miami 

International Securities Exchange, LLC 

(‘‘MIAX Options’’ or ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) a 

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 is filing a proposal to 

amend Exchange Rule 529, Order 

Routing to Other Exchanges. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://www.miaxoptions.com/rulefilings, at MIAX’s principal office, 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 aspects 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 amend 

Rule 529, Order Routing to Other 

Exchanges, to provide additional 

information in the Route Notification 

broadcast as described in subsection 

(b)(2)(i). Specifically, the Exchange 

proposes to include the expected price 

to which the interest will be routed in 

the Route Notification message 

distributed via the Exchange’s data feed. 

Additionally, the Exchange proposes to 

amend the rule text to improve its 

clarity and precision. The Exchange also 

proposes to adopt new Interpretations 

and Policies .02 to clarify that, for 

purposes of Rule 529, the expected price 

to which the interest will be routed is 

the ABBO 3 at the start of the Route 

Timer. 

Under Exchange Rule 529 the 

Exchange may automatically route 

orders to other exchanges under certain 

circumstances. The Exchange will 

employ one of two Route Mechanisms, 

Immediate Routing or the Route Timer,4

when a Public Customer 5 order is 

received and/or reevaluated that is both 

routable and marketable against the 

opposite side ABBO upon receipt and 

the Exchange’s disseminated market is 

not equal to the opposite side ABBO, or 

is equal to the opposite side ABBO and 

of insufficient size to satisfy the order.6

Under the Exchange’s proposal, all 

existing functionality of the Route 

Timer will remain intact. Currently, 

Public Customer orders that are not 

eligible for Immediate Routing are 

subject to a Route Timer. The Route 

Timer, which will never exceed one 

second, allows Market Makers 7 and 


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