Federal Register / Vol. 82, No. 195 / Wednesday, October 11, 2017 / Notices 47265 

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

2 17 CFR 240.19b–4. 

site regarding microcap securities, 

including penny stocks, from his or her 

broker-dealer, the printing and mailing 

of the document containing this 

information takes no more than two 

minutes per customer. Because many 

investors have access to the 

Commission’s Web site via computers 

located in their homes, or in easily 

accessible public places such as 

libraries, then, at most, a quarter of 

customers who are required to receive 

the Rule 15g–2 disclosure document 

request that their broker-dealer provide 

them with the additional microcap and 

penny stock information posted on the 

Commission’s Web site. Thus, each 

broker-dealer respondent processes 

approximately 39 requests for paper 

copies of this information per year or an 

aggregate total of 78 minutes per 

respondent (2 minutes per customer × 

39 requests per respondent). Since there 

are 198 respondents, the estimated 

annual burden is 15,444 minutes (78 

minutes per each of the 198 

respondents) or 257 hours. This is a 

third party disclosure type of burden. 

We have no way of knowing how 

many broker-dealers and customers will 

choose to communicate electronically. 

Assuming that 50 percent of 

respondents continue to provide 

documents and obtain signatures in 

tangible form and 50 percent choose to 

communicate electronically to satisfy 

the requirements of Rule 15g–2, the total 

aggregate burden hours would be 2,060 

((aggregate burden hours for sending 

disclosure documents and obtaining 

signed customer acknowledgments in 

tangible form × 0.50 of the respondents 

= 1,030 hours) + (aggregate burden 

hours for electronically signed and 

transmitted documents × 0.50 of the 

respondents = 773 hours) + (257 burden 

hours for those customers making 

requests for a copy of the information on 

the Commission’s Web site)). 

The Commission does not maintain 

the risk disclosure document. Instead, it 

must be retained by the broker-dealer 

for at least three years following the date 

on which the risk disclosure document 

was provided to the customer, the first 

two years in an accessible place. The 

collection of information required by 

the rule is mandatory. The risk 

disclosure document is otherwise 

governed by the internal policies of the 

broker-dealer regarding confidentiality, 

etc. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

The public may view background 

documentation for this information 

collection at the following Web site: 

www.reginfo.gov. Comments should be 

directed to: (i) Desk Officer for the 

Securities and Exchange Commission, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503, 

or by sending an email to: Shagufta_

Ahmed@omb.eop.gov; and (ii) Pamela 

Dyson, Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o Remi Pavlik-Simon, 

100 F Street NE., Washington, DC 

20549, or by sending an email to: PRA_

Mailbox@sec.gov. Comments must be 

submitted to OMB within 30 days of 

this notice. 

Dated: October 4, 2017. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–21910 Filed 10–10–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

TIME AND DATE: 2:00 p.m. on Wednesday, 

October 11, 2017. 

PLACE: Closed Commission Hearing 

Room. 

STATUS: This meeting will be closed to 

the public. 

MATTERS TO BE CONSIDERED: 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the closed meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) 

and 17 CFR 200.402(a)(3), (a)(5), (a)(7), 

(a)(9)(ii) and (a)(10), permit 

consideration of the scheduled matters 

at the closed meeting. 

Commissioner Stein, as duty officer, 

voted to consider the items listed for the 

closed meeting in closed session. 

The subject matters of the closed 

meeting will be: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings; and 

Other matters relating to enforcement 

proceedings. 

CONTACT PERSON FOR MORE INFORMATION: 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. For further 

information and to ascertain what, if 

any, matters have been added, deleted 

or postponed; please contact Brent J. 

Fields from the Office of the Secretary 

at (202) 551–5400. 

Dated: October 4, 2017. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2017–21987 Filed 10–6–17; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81815; File No. SRBatsBZX–2017–58] 

Self-Regulatory Organizations; Bats 

BZX Exchange, Inc.; Notice of Filing of 

a Proposed Rule Change To List and 

Trade Shares of the CBOE S&P 500®

Dividend Aristocrats® Target Income 

Index ETF Under the ETF Series 

Solutions Trust, Under Rule 

14.11(c)(3), Index Fund Shares 

October 4, 2017. 

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 

September 19, 2017, Bats BZX 

Exchange, Inc. (the ‘‘Exchange’’ or 

‘‘BZX’’) 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 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 filed a proposal to list 

and trade shares of the CBOE S&P 500 ®

Dividend Aristocrats® Target Income 

Index ETF under the ETF Series 

Solutions Trust (the ‘‘Trust’’), under 

Rule 14.11(c)(3) (‘‘Index Fund Shares’’). 

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 


asabaliauskas on DSKBBXCHB2PROD with NOTICES
47266 Federal Register / Vol. 82, No. 195 / Wednesday, October 11, 2017 / Notices 

3While the Trust has not yet filed a registration 

statement on behalf of the Fund, the Exchange will 

not allow the Fund to list and trade on the 

Exchange until the registration statement for the 

Fund is effective. 

4As defined in Rule 14.3(e)(1)(A), the term ‘‘BZX 

Affiliate’’ means the Exchange and any entity that 

directly or indirectly, through one or more 

intermediaries, controls, is controlled by, or is 

under common control with the Exchange, where 

‘‘control’’ means that one entity possesses, directly 

or indirectly, voting control of the other entity 

either through ownership of capital stock or other 

equity securities or through majority representation 

on the board of directors or other management body 

of such entity. 

5As defined in Rule 14.3(e)(1)(B), the term 

‘‘Affiliate Security’’ means any security issued by 

a BZX Affiliate or any Exchange-listed option on 

any such security, with the exception of Portfolio 

Depository Receipts as defined in Rule 14.11(b) and 

Index Fund Shares as defined in Rule 14.11(c). 

6As defined in Rule 14.11(c)(1)(D), the term ‘‘U.S. 

Component Stock’’ shall mean an equity security 

that is registered under Sections 12(b) or 12(g) of 

the Act, or an American Depositary Receipt, the 

underlying equity security of which is registered 

under Sections 12(b) or 12(g) of the Act. 

7Rule 14.11(c)(3)(A)(i)(e) provides that all 

securities in the applicable index or portfolio shall 

be U.S. Component Stocks listed on a national 

securities exchange and shall be NMS Stocks as 

defined in Rule 600 under Regulation NMS of the 

Act. Each component stock of the S&P 500 is a U.S. 

Component Stock that is listed on a national 

securities exchange and is an NMS Stock. Options 

are excluded from the definition of NMS Stock. The 

Fund and the Index meet all of the requirements of 

the listing standards for Index Fund Shares in Rule 

14.11(c)(3), except the requirements in Rule 

14.11(c)(3)(A)(i)(a)–(e), as the Index consists of 

options on U.S. Component Stocks. The S&P 500 

consists of U.S. Component Stocks and satisfies the 

requirements of Rule 14.11(c)(3)(A)(i)(a)–(e). 

8The Index is a hypothetical portfolio of options 

and equity securities. As such, the Index cannot 

actually buy or sell an option or equity security, but 

the Index reflects the value of such transactions as 

if the Index could actually engage in them. The 

Index is described as ‘‘buying’’ and ‘‘selling’’ 

options to aid investors in understanding how the 

Fund will act in tracking the Index. 

9As defined in Rule 14.11(i)(3)(E), the term 

‘‘Normal Market Conditions’’ includes, but is not 

limited to, the absence of trading halts in the 

applicable financial markets generally; operational 

issues causing dissemination of inaccurate market 

information or system failures; or force majeure 

type events such as natural or man-made disaster, 

act of God, armed conflict, act of terrorism, riot or 

labor disruption, or any similar intervening 

circumstance. 

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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to list and 

trade shares (‘‘Shares’’) of CBOE S&P 

500® Dividend Aristocrats® Target 

Income Index ETF (the ‘‘Fund’’) under 

Rule 14.11(c)(3), which governs the 

listing and trading of Index Fund Shares 

on the Exchange. The Fund will be an 

index-based exchange traded fund 

(‘‘ETF’’). The Fund will track the CBOE 

S&P 500® Dividend Aristocrats® Target 

Income Index (the ‘‘Index’’). 

The Shares will be offered by the 

Trust, which was established as a 

Delaware statutory trust on February 9, 

2012. The Trust is registered with the 

Commission as an open-end investment 

company and plans to file a registration 

statement on behalf of the Fund on 

Form N–1A with the Commission.3 The 

Fund’s index provider, Chicago Board 

Options Exchange (‘‘CBOE’’ or the 

‘‘Index Provider’’), is not a brokerdealer, but is affiliated with a brokerdealer. The Exchange also notes that the 

adviser, CBOE Vest Financial, LLC, is a 

BZX Affiliate as defined in Rule 

14.3(e)(1)(A),4 but is not an Affiliate 

Security, as defined in Rule 

14.11(e)(1)(B),5 and is therefore not 

subject to the additional requirements 

applicable to Affiliate Securities 

because such definition explicitly 

excludes Index Fund Shares. The Fund 

intends to qualify each year as a 

regulated investment company under 

Subchapter M of the Internal Revenue 

Code of 1986, as amended. 

The Exchange is submitting this 

proposed rule change because the Index 

does not meet all of the ‘‘generic’’ listing 

requirements of Rule 14.11(c)(3)(A)(i), 

applicable to the listing of Index Fund 

Shares based upon an index of ‘‘U.S. 

Component Stocks.’’ 6 Specifically, Rule 

14.11(c)(3)(A)(i) sets forth the 

requirements to be met by components 

of an index or portfolio of U.S. 

Component Stocks. Because the Index 

includes derivatives, rather than 

exclusively holding ‘‘U.S. Component 

Stocks’’ as defined in Rule 

14.11(c)(1)(D), it does not satisfy the 

requirements of Rule 14.11(c)(3)(A)(i).7

The Shares will conform to the initial 

and continued listing criteria under 

Rule 14.11(c), except that the Index will 

not meet the requirements of Rule 

14.11(c)(3)(A)(i)(a)–(e) in that the Index 

will be composed of U.S. Component 

Stocks and options based on U.S. 

Component Stocks (i.e., FLEX Options 

and/or standardized options that 

reference a single U.S. Component 

Stock), rather than exclusively holding 

U.S. Component Stocks. 

The Fund uses a ‘‘passive 

management’’ (or indexing) approach to 

track the total return performance, 

before fees and expenses, of the CBOE 

S&P 500® Dividend Aristocrats® Target 

Income Index (the ‘‘Index’’ for purposes 

of this section). The Index is a rulesbased buy-write index created by the 

Index Provider, an affiliate of the Fund’s 

investment adviser, and designed with 

the primary goal of generating an 

annualized level of income that is 

approximately 3.5% over the annual 

dividend yield of the S&P 500 Index and 

a secondary goal of generating price 

returns that are proportional to the price 

returns of the S&P 500 Index. 

The Index is composed of two parts: 

(1) An equal-weighted portfolio of the 

stocks contained in the S&P 500 

Dividend Aristocrats Index (the 

‘‘Aristocrat Stocks’’) that have options 

that trade on a national securities 

exchange and (2) a rolling series of short 

call options on each of the Aristocrat 

Stocks (the ‘‘Covered Calls’’). The S&P 

500 Dividend Aristocrats Index 

generally includes companies in the 

S&P 500 Index that have increased 

dividend payments each year for at least 

25 consecutive years and meet certain 

market capitalization and liquidity 

requirements. 

The Covered Calls are written (sold) 8

on the last trading day of each week 

with an expiration typically on the 

Friday of the following week and a 

strike price as close as possible to the 

closing price of the underlying 

Aristocrat Stock at the time the Covered 

Call is written. The Index employs a 

‘‘partial covered call strategy,’’ meaning 

that Covered Calls will be written on a 

notional value of no more than 20% of 

the value of the underlying Aristocrat 

Stock, such that the short position in the 

call option is ‘‘covered’’ by a portion of 

the long underlying asset. The exact 

amount of Covered Calls written is 

based on a calculation designed to result 

in the Index generating a total yield 

from (i) dividends from the Aristocrat 

Stocks and (ii) premiums from writing 

Covered Calls that is 3.5% higher 

annually than the yield from dividends 

of the S&P 500 Index constituents. 

The equity component of the Index is 

rebalanced (i.e., weights are reset to 

equal-weighted) quarterly effective after 

the close of the last business day of each 

January, April, July, and October and 

reconstituted (i.e., Aristocrat Stocks are 

added and deleted according to the 

Index rules) annually effective after the 

close of the last business day of each 

January. 

The Fund attempts to invest all, or 

substantially all, of its assets in the 

component securities that make up the 

Index. Under Normal Market 

Conditions,9 at least 80% of the Fund’s 

total assets (exclusive of any collateral 

held from securities lending) will be 


asabaliauskas on DSKBBXCHB2PROD with NOTICES
Federal Register / Vol. 82, No. 195 / Wednesday, October 11, 2017 / Notices 47267 

10As defined in Rule 14.11(i)(4)(C)(iii), cash 

equivalents include short-term instruments with 

maturities of less than three months, including: (i) 

U.S. Government securities, including bills, notes, 

and bonds differing as to maturity and rates of 

interest, which are either issued or guaranteed by 

the U.S. Treasury or by U.S. Government agencies 

or instrumentalities; (ii) certificates of deposit 

issued against funds deposited in a bank or savings 

and loan association; (iii) bankers acceptances, 

which are short-term credit instruments used to 

finance commercial transactions; (iv) repurchase 

agreements and reverse repurchase agreements; (v) 

bank time deposits, which are monies kept on 

deposit with banks or savings and loan associations 

for a stated period of time at a fixed rate of interest; 

(vi) commercial paper, which are short-term 

unsecured promissory notes; and (vii) money 

market funds. 

11The Commission originally approved BZX Rule 

14.11(i) in Securities Exchange Act Release No. 

65225 (August 30, 2011), 76 FR 55148 (September 

6, 2011) (SR–BATS–2011–018) and subsequently 

approved generic listing standards for Managed 

Fund Shares under Rule 14.11(i) in Securities 

Exchange Act Release No. 78396 (July 22, 2016), 81 

FR 49698 (July 28, 2016) (SR–BATS–2015–100). 

12For a list of the current members and affiliate 

members of ISG, see www.isgportal.com. The 

Exchange notes that not all components of the 

Disclosed Portfolio for the Fund may trade on 

markets that are members of ISG or with which the 

Exchange has in place a comprehensive 

surveillance sharing agreement. 

13 15 U.S.C. 78f. 

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

15Rule 14.11(c)(3)(A)(i)(e) provides that all 

securities in the applicable index or portfolio shall 

be U.S. Component Stocks listed on a national 

securities exchange and shall be NMS Stocks as 

defined in Rule 600 under Regulation NMS of the 

Act. 

invested in the component securities of 

the Index. The Fund will hold only U.S. 

exchange-listed equity securities, FLEX 

and/or standardized exchange-listed 

options on exchange-listed equity 

securities, FLEX and/or standardized 

exchange-listed options on U.S. equity 

indexes, and cash and cash 

equivalents.10

The Exchange notes that, while the 

Fund will be a series of Index Fund 

Shares listed on the Exchange under 

Rule 14.11(c), the Fund will meet the 

generic listing standards applicable to 

Managed Fund Shares under Rule 

14.11(i), which would allow a series of 

Managed Fund Shares with the exact 

same holdings as the Fund to list on the 

Exchange without requiring the 

submission and SEC approval of a rule 

filing pursuant to Section 19(b)(2) of the 

Act. While Index Fund Shares track the 

value of an index and Managed Fund 

Shares are based on an actively 

managed portfolio and are not generally 

designed to track an underlying 

reference asset, the Exchange believes 

that there are no substantive issues that 

are unique to Index Fund Shares that 

were not considered in the 

Commission’s approval of the generic 

listing rules for Managed Fund Shares.11

As such, the Exchange believes that this 

proposal similarly does not raise any 

substantive issues that were not 

otherwise addressed in the 

Commission’s approval of the generic 

listing rules for Managed Fund Shares 

and that the Commission should act 

expeditiously to approve this proposal. 

In addition, the Exchange represents 

that, except as described above, the 

Fund will meet each of the initial and 

continued listing criteria in BZX Rule 

14.11(c) with the exception Rule 

14.11(c)(3)(A)(i), applicable to the 

listing of Index Fund Shares based upon 

an index of ‘‘U.S. Component Stocks.’’ 

The Trust is required to comply with 

Rule 10A–3 under the Act for the initial 

and continued listing of the Shares of 

the Fund. In addition, the Exchange 

represents that the Shares of the Fund 

will comply with all other requirements 

applicable to Index Fund Shares 

including, but not limited to, 

requirements relating to the 

dissemination of key information such 

as the Disclosed Portfolio, Net Asset 

Value, and the Intraday Indicative 

Value, rules governing the trading of 

equity securities, trading hours, trading 

halts, surveillance, and the information 

circular, as set forth in Exchange rules 

applicable to Index Fund Shares and the 

orders approving such rules. Moreover, 

all of the options contracts held by the 

Fund will trade on markets that are a 

member of Intermarket Surveillance 

Group (‘‘ISG’’) or affiliated with a 

member of ISG or with which the 

Exchange has in place a comprehensive 

surveillance sharing agreement.12 All 

statements and representations made in 

this filing regarding the index 

composition, the description of the 

portfolio or reference assets, limitations 

on portfolio holdings or reference assets, 

dissemination and availability of index, 

reference asset, and intraday indicative 

values, and the applicability of 

Exchange rules specified in this filing 

shall constitute continued listing 

requirements for the Fund. The issuer 

has represented to the Exchange that it 

will advise the Exchange of any failure 

by the Fund or the Shares to comply 

with the continued listing requirements, 

and, pursuant to its obligations under 

Section 19(g)(1) of the Act, the Exchange 

will surveil for compliance with the 

continued listing requirements. If the 

Fund or the Shares are not in 

compliance with the applicable listing 

requirements, the Exchange will 

commence delisting procedures under 

Exchange Rule 14.12. 

2. Statutory Basis 

The Exchange believes that the 

proposal is consistent with Section 6(b) 

of the Act 13 in general and Section 

6(b)(5) of the Act 14 in particular in that 

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 

facilitating transactions in securities, to 

remove impediments to and perfect the 

mechanism of a free and open market 

and a national market system and, in 

general, to protect investors and the 

public interest. 

The Exchange believes that the 

proposed rule change 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 facilitating 

transactions in securities, to remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system and, in 

general, to protect investors and the 

public interest in that the Shares of the 

Fund will meet each of the initial and 

continued listing criteria in BZX Rule 

14.11(c) with the exception Rule 

14.11(c)(3)(A)(i), applicable to the 

listing of Index Fund Shares based upon 

an index of ‘‘U.S. Component Stocks.’’ 

Specifically, Rule 14.11(c)(3)(A)(i) sets 

forth the requirements to be met by 

components of an index or portfolio of 

U.S. Component Stocks. Because the 

Index contains options, rather than 

exclusively containing ‘‘U.S. 

Component Stocks’’ as defined in Rule 

14.11(c)(1)(D), the Index does not satisfy 

the requirements of Rule 

14.11(c)(3)(A)(i),15 however, the generic 

listing rules for Managed Fund Shares 

do allow for a portfolio to hold listed 

derivatives. The Exchange notes that, 

while the Fund will be a series of Index 

Fund Shares listed on the Exchange 

under Rule 14.11(c), the Fund will 

comply with the generic listing 

standards applicable to Managed Fund 

Shares under Rule 14.11(i) that would 

allow a series of Managed Fund Shares 

with the exact same holdings as are 

included in both the Index and the 

Fund to list on the Exchange without 

requiring the submission and SEC 

approval of a rule filing pursuant to 

Section 19(b)(2) of the Act. While Index 

Fund Shares track the value of an index 

and Managed Fund Shares are based on 

an actively managed portfolio and are 

not generally designed to track an 

underlying reference asset, the 

Exchange believes that there are no 

substantive issues that are unique to 

Index Fund Shares that were not 

considered in the Commission’s 

approval of the generic listing rules for 


asabaliauskas on DSKBBXCHB2PROD with NOTICES
47268 Federal Register / Vol. 82, No. 195 / Wednesday, October 11, 2017 / Notices 

16For a list of the current members and affiliate 

members of ISG, see www.isgportal.com. The 

Exchange notes that not all components of the 

Disclosed Portfolio for the Fund may trade on 

markets that are members of ISG or with which the 

Exchange has in place a comprehensive 

surveillance sharing agreement. 17 17 CFR 200.30–3(a)(12). 

Managed Fund Shares. As such, the 

Exchange believes that this proposal 

similarly does not raise any substantive 

issues that were not otherwise 

addressed in the Commission’s approval 

of the generic listing rules for Managed 

Fund Shares and that the Commission 

should act expeditiously to approve this 

proposal. 

The Exchange also represents that, 

except as described above, the Fund 

will satisfy, on an initial and continued 

listing basis, all of the generic listing 

standards under BZX Rule 

14.11(c)(3)(A)(i) and all other applicable 

requirements for Index Fund Shares 

under Rule 14.11(c). The Trust is 

required to comply with Rule 10A–3 

under the Act for the initial and 

continued listing of the Shares of the 

Fund. In addition, the Exchange 

represents that the Shares of the Fund 

will comply with all other requirements 

applicable to Index Fund Shares 

including, but not limited to, 

requirements relating to the 

dissemination of key information such 

as the Disclosed Portfolio, Net Asset 

Value, and the Intraday Indicative 

Value, rules governing the trading of 

equity securities, trading hours, trading 

halts, surveillance, and the information 

circular, as set forth in Exchange rules 

applicable to Index Fund Shares and the 

orders approving such rules. Moreover, 

all of the options contracts held by the 

Fund will trade on markets that are a 

member of ISG or affiliated with a 

member of ISG or with which the 

Exchange has in place a comprehensive 

surveillance sharing agreement.16 All 

statements and representations made in 

this filing regarding the index 

composition, the description of the 

portfolio or reference assets, limitations 

on portfolio holdings or reference assets, 

dissemination and availability of index, 

reference asset, and intraday indicative 

values, and the applicability of 

Exchange rules specified in this filing 

shall constitute continued listing 

requirements for the Fund. The issuer 

has represented to the Exchange that it 

will advise the Exchange of any failure 

by the Fund or the Shares to comply 

with the continued listing requirements, 

and, pursuant to its obligations under 

Section 19(g)(1) of the Act, the Exchange 

will surveil for compliance with the 

continued listing requirements. If the 

Fund or the Shares are not in 

compliance with the applicable listing 

requirements, the Exchange will 

commence delisting procedures under 

Exchange Rule 14.12. 

For the above reasons, the Exchange 

believes that the proposed rule change 

is consistent with the requirements of 

Section 6(b)(5) of the Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purpose of the Act. The Exchange 

notes that the proposed rule change will 

facilitate the listing and trading of an 

additional type of Index Fund Shares 

that will enhance competition among 

market participants, to the benefit of 

investors and the marketplace. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

The Exchange has neither solicited 

nor received written comments on the 

proposed rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period 

up to 90 days (i) as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or (ii) as to which 

the self-regulatory organization 

consents, the Commission will: 

(A) by order approve or disapprove 

the proposed rule change, or 

(B) institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposal 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. SRBatsBZX–2017–58 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-BatsBZX–2017–58. 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 will also 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–BatsBZX– 

2017–58 and should be submitted on or 

before November 1, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–21813 Filed 10–10–17; 8:45 am] 

BILLING CODE 8011–01–P 


asabaliauskas on DSKBBXCHB2PROD with NOTICES