48858 Federal Register / Vol. 82, No. 202 / Friday, October 20, 2017 / Notices 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 80485 

(April 19, 2017), 82 FR 19131 (April 25, 2017) (SR– 

DTC–2017–005; SR–FICC–2017–009; SR–NSCC– 

2017–006). 

4See Securities Exchange Act Release No. 80876 

(June 7, 2017), 82 FR 27091 (June 13, 2017) (SR– 

DTC–2017–005; SR–FICC–2017–009; SR–NSCC– 

2017–006). 

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

6See Securities Exchange Act Release No. 81192 

(July 24, 2017), 82 FR 35245 (July 28, 2017) (SR– 

DTC–2017–005; SR–FICC–2017–009; SR–NSCC– 

2017–006). 

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

8 Id. 

9 Id. 

10 17 CFR 200.30–3(a)(57). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(6). 

5These symbols represent the index. The 

corresponding option symbols are SIXM, SIXE, 

SIXT, SIXV, SIXU, SIXR, SIXI, SIXY, SIXB, and 

SIXRE, respectively. 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81883; File Nos. SR–DTC– 

2017–005; SR–FICC–2017–009; SR–NSCC– 

2017–006] 

Self-Regulatory Organizations; The 

Depository Trust Company; Fixed 

Income Clearing Corporation; National 

Securities Clearing Corporation; 

Notice of Designation of Longer Period 

for Commission Action on 

Proceedings To Determine Whether To 

Approve or Disapprove Proposed Rule 

Changes, as Modified by Amendments 

No. 1, To Adopt the Clearing Agency 

Stress Testing Framework (Market 

Risk) 

October 16, 2017. 

On April 7, 2017, The Depository 

Trust Company (‘‘DTC’’), Fixed Income 

Clearing Corporation (‘‘FICC’’), and 

National Securities Clearing Corporation 

(‘‘NSCC,’’ each a ‘‘Clearing Agency,’’ 

and collectively, the ‘‘Clearing 

Agencies’’), filed with the Securities and 

Exchange Commission (‘‘Commission’’) 

proposed rule changes SR–DTC–2017– 

005, SR–FICC–2017–009, and SR– 

NSCC–2017–006, respectively, pursuant 

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

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder.2

The proposed rule changes were 

published for comment in the Federal 

Register on April 25, 2017.3 On June 7, 

2017, the Commission designated a 

longer period for Commission Action on 

the proposed rule changes.4 On July 19, 

2017, the Clearing Agencies each filed 

Amendment No. 1 to their respective 

proposed rule changes (hereinafter, 

‘‘Proposed Rule Changes’’). On July 24, 

2017, the Commission published a 

notice in the Federal Register of filing 

Amendments No. 1 and order instituting 

proceedings under Section 19(b)(2)(B)(i) 

of the Act 5 to determine whether to 

approve or disapprove the Proposed 

Rule Changes.6 The Commission did not 

receive any comment letters on the 

Proposed Rule Changes. 

Section 19(b)(2)(B)(ii) of the Act 

provides that, after initiating 

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.7 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 such 

determination.8

The 180th day after publication of the 

notice for the Proposed Rule Changes in 

the Federal Register is October 22, 

2017. The Commission finds it 

appropriate to designate a longer period 

within which to issue an order 

approving or disapproving the Proposed 

Rule Changes so that it has sufficient 

time to consider the Proposed Rule 

Changes. Accordingly, the Commission, 

pursuant to Section 19(b)(2)(B)(ii) of the 

Act,9 designates December 21, 2017 as 

the date by which the Commission shall 

either approve or disapprove proposed 

rule changes SR–DTC–2017–005, SR– 

FICC–2017–009, and SR–NSCC–2017– 

006, as amended. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–22758 Filed 10–19–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81879; File No. SR–CBOE– 

2017–065] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To List and Trade S&P 

Select Sector Index Options 

October 16, 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 October 

4, 2017, Chicago Board Options 

Exchange, Incorporated (the ‘‘Exchange’’ 

or ‘‘CBOE’’) filed with the Securities 

and Exchange Commission (the 

‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the Exchange. The Exchange filed the 

proposal as a ‘‘non-controversial’’ 

proposed rule change pursuant to 

Section 19(b)(3)(A)(iii) of the Act 3 and 

Rule 19b–4(f)(6) thereunder.4 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 proposing to amend 

certain rules in connection with listing 

S&P Select Sector Indexes under generic 

narrow-based listing standards. 

The text of the proposed rule change 

is also available on the Exchange’s Web 

site (http://www.cboe.com/AboutCBOE/ 

CBOELegalRegulatoryHome.aspx), at 

the Exchange’s Office of the Secretary, 

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 purpose of this proposed rule 

change is to amend certain rules in 

connection with the Exchange’s plans to 

list and trade ten S&P Select Sector 

Index options. 

Each S&P Select Sector Index 

represents the performance of 

companies that are components of the 

Standard & Poor’s 500 Index (‘‘S&P 

500’’) within one of the following 

sectors (each of which is referred to as 

a ‘‘S&P Select Sector Index’’): 


srobinson on DSKBC5CHB2PROD with NOTICES
Federal Register / Vol. 82, No. 202 / Friday, October 20, 2017 / Notices 48859 

6S&P Dow Jones Indices is the reporting authority 

for the S&P Select Sector Indexes. See proposed 

Rule 24.1, Interpretation and Policy .01. 

7As is the case with other index options 

authorized for listing and trading on CBOE, in the 

event a S&P Select Sector Index fails to satisfy the 

maintenance listing standards, the Exchange will 

not open for trading any additional series of options 

of that class unless such failure is determined by 

the Exchange not to be significant and the 

Commission concurs in that determination, or 

unless the continued listing of that class of index 

options has been approved by the Securities and 

Exchange Commission (the ‘‘Commission’’) under 

Section 19(b)(2) of the Securities and Exchange Act 

(the ‘‘Act’’). 

8See proposed Rule 24.9(a)(2). 

9See proposed Rule 24.9(a)(3)(cxiv) through 

(cxxiii). 

10See Rule 24.2(b)(1). 

11See Rule 24.2(f)(2). 

Sector Symbol 5 Number of 

components 

Financial ............... IXM 66 

Energy .................. IXE 32 

Technology ........... IXT 72 

Health Care .......... IXV 61 

Utilities .................. IXU 28 

Consumer Staples IXR 35 

Industrials ............. IXI 68 

Consumer Discretionary.IXY 85 

Materials ............... IXB 26 

Real Estate ........... IXRE 32 

Each constituent of a Select Sector 

Index is a constituent of the S&P 500, 

and each Select Sector index is a 

subindex of the S&P 500. S&P Dow 

Jones Indices 6 assigns constituents to a 

S&P Select Sector Index based on the 

constituent’s classification under a 

global industry classification standard. 

S&P Dow Jones Indices monitors and 

maintains each Select Sector Index and 

rebalances each S&P Select Sector Index 

quarterly. 

Initial and Maintenance Listing Criteria 

Each S&P Select Sector Index meets 

the definition of a narrow-based index 

as set forth in Rule 24.1(i)(2) (an index 

designed to be representative of a 

particular industry or a group of related 

industries and include indices having 

component securities that are all 

headquartered within a single country). 

Additionally, each S&P Select Sector 

Index option satisfies the initial listing 

criteria of a narrow-based index, as set 

forth in Rule 24.2(b): 

(1) Options will be A.M.-settled; 

(2) the index is capitalizationweighted, price-weighted, equal dollarweighted, or modified capitalizationweighted, and consists of ten or more 

component securities (the S&P Select 

Sector Indexes are modified 

capitalization-weighted); 

(3) each component security has a 

market capitalization of at least $75 

million, except that for each of the 

lowest weighted component securities 

in the index that in the aggregate 

account for no more than 10% of the 

weight of the index, the market 

capitalization is at least $50 million; 

(4) trading volume of each component 

security has been at least one million 

shares for each of the last six months, 

except that for each of the lowest 

weighted component securities in the 

index that in the aggregate account for 

no more than 10% of the weight of the 

index, trading volume has been at least 

500,000 shares for each of the last six 

months; 

(5) in a capitalization-weighted index 

or a modified capitalization-weighted 

index, the lesser of the five highest 

weighted component securities in the 

index or the highest weighted 

component securities in the index that 

in the aggregate represent at least 30% 

of the total number of component 

securities in the index each have had an 

average monthly trading volume of at 

least 2,000,000 shares over the past six 

months; 

(6) no single component security 

represents more than 25% of the weight 

of the index, and the five highest 

weighted component securities in the 

index do not in the aggregate account 

for more than 50% (60% for an index 

consisting of fewer than 25 component 

securities) of the weight of the index; 

(7) component securities that account 

for at least 90% of the weight of the 

index and at least 80% of the total 

number of component securities in the 

index satisfy the requirements of Rule 

5.3 applicable to individual underlying 

securities; 

(8) all component securities are 

‘‘reported securities’’ as defined in Rule 

11A a3–1 under the Exchange Act; 

(9) non-U.S. component securities 

(stocks or ADRs) that are not subject to 

comprehensive surveillance agreements 

do not in the aggregate represent more 

than 20% of the weight of the index; 

(10) the current underlying index 

value will be reported at least once 

every fifteen seconds during the time 

the index options are traded on the 

Exchange; 

(11) an equal dollar-weighted index 

will be rebalanced at least once every 

calendar quarter; and 

(12) if an underlying index is 

maintained by a broker-dealer, the index 

is calculated by a third party who is not 

a broker-dealer, and the broker-dealer 

has erected a ‘‘Chinese Wall’’ around its 

personnel who have access to 

information concerning changes in and 

adjustments to the index. 

The S&P Select Sector Index options 

will be subject to the maintenance 

listing standards set forth in Rule 

24.2(c): 

(1) The conditions stated in (1), (3), 

(6), (7), (8), (9), (10), (11) and (12) above 

must continue to be satisfied, provided 

that the conditions stated in (6) above 

must be satisfied only as of the first day 

of January and July in each year; 

(2) the total number of component 

securities in the index may not increase 

or decrease by more than 331⁄3% from 

the number of component securities in 

the index at the time of its initial listing, 

and in no event may be less than nine 

component securities; 

(3) trading volume of each component 

security in the index must be at least 

500,000 shares for each of the last six 

months, except that for each of the 

lowest weighted component securities 

in the index that in the aggregate 

account for no more than 10% of the 

weight of the index, trading volume 

must be at least 400,000 shares for each 

of the last six months; and 

(4) in a capitalization-weighted index 

or a modified capitalization-weighted 

index, the lesser of the five highest 

weighted component securities in the 

index or the highest weighted 

component securities in the index that 

in the aggregate represent at least 30% 

of the total number of stocks in the 

index each have had an average 

monthly trading volume of at least 

1,000,000 shares over the past six 

months.7

Expiration Months, Settlement, and 

Exercise Style 

Consistent with existing rules for 

certain index options, the Exchange will 

allow up to twelve near-term expiration 

months.8 The Exchange elects to have 

the ability to list up to twelve near-term 

expiration months, as that is the same 

amount the Rules permit for options on 

the S&P 500 (‘‘SPX options’’). The S&P 

Select Sector Indexes, in the aggregate, 

consist of the same components as the 

S&P 500, as discussed above. Because of 

the relation [sic] between the S&P Select 

Sector Indexes and the S&P 500, which 

will likely result in market participants’ 

investment and hedging strategies 

consisting of options over both, the 

Exchange believes it is appropriate to 

permit the same number of monthly 

expirations for S&P Select Sector Index 

options as SPX options. 

The S&P Select Sector Index options 

will be A.M., cash-settled contracts with 

European-style exercise.9 A.M.- 

settlement is consistent with the generic 

listing criteria for industry-based 

indexes 10 (as well as broad-based 

indexes 11), and thus it is common for 


srobinson on DSKBC5CHB2PROD with NOTICES
48860 Federal Register / Vol. 82, No. 202 / Friday, October 20, 2017 / Notices 

12See proposed Rule 8.3(c)(i). S&P Select Sector 

Index Options will be in Tier AA (as are other S&P 

index options). While the appointment costs of Tier 

AA classes are not subject to quarterly rebalancing 

under Rule 8.3(c)(iv), the Exchange regularly 

reviews the appointment costs of Tier AA classes 

to ensure that they continue to be appropriate. The 

Exchange determines appointment costs of Tier AA 

classes based on several factors, including, but not 

limited to, competitive forces and trading volume. 

13 15 U.S.C. 78f(b). 14 15 U.S.C. 78f(b)(5). 15 Id. 

index options to be A.M.-settled. The 

Exchange proposes to amend Rule 

24.9(a)(4) to add the S&P Select Sector 

Index options to the list of other A.M.- 

settled options. Standard third-Friday 

SPX options are A.M.-settled. Europeanstyle exercise is consistent with many 

index options, as set forth in Rule 

24.9(a)(3). Standard third-Friday SPX 

options are A.M.-settled with Europeanstyle exercise. The Exchange proposes 

to amend Rule 24.9(a)(3) to add S&P 

Select Sector Index options to the list of 

other European-style index options. 

Because of the relation between the S&P 

Select Sector Indexes and the S&P 500, 

which will likely result in market 

participants’ investment and hedging 

strategies consisting of options over 

both, the Exchange believes it is 

appropriate to list S&P Select Sector 

Index options with the same settlement 

and exercise style as SPX options. 

Appointment Costs 

The Exchange proposes a MarketMaker appointment cost of .001 for each 

S&P Select Sector Index option, and 

each will have a Market-Maker 

appointment cost of .001.12 The 

Exchange determines appointment costs 

of Tier AA classes based on several 

factors, including, but not limited to, 

competitive forces and trading volume. 

The Exchange believes the proposed 

initial appointment cost for each S&P 

Select Sector Index option will foster 

competition by incentivizing MarketMakers to obtain an appointment in 

these newly listed options, which may 

increase liquidity in the new classes. 

Capacity 

CBOE has analyzed its capacity and 

represents that it believes the Exchange 

and OPRA have the necessary systems 

capacity to handle the additional traffic 

associated with the listing of new series 

that would result from the introduction 

of S&P Select Sector Index options up 

to the proposed number of possible 

expirations. Because the proposal is 

limited to ten classes, the Exchange 

believes any additional traffic that 

would be generated from the 

introduction of S&P Select Sector Index 

options would be manageable. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) and the rules and regulations 

thereunder applicable to the Exchange 

and, in particular, the requirements of 

Section 6(b) of the Act.13 Specifically, 

the Exchange believes the proposed rule 

change is consistent with the Section 

6(b)(5) 14 requirements that the rules of 

an exchange be 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 mechanism of a free and 

open market and a national market 

system, and, in general, to protect 

investors and the public interest. 

Additionally, the Exchange believes the 

proposed rule change is consistent with 

the Section 6(b)(5) 15 requirement that 

the rules of an exchange not be designed 

to permit unfair discrimination between 

customers, issuers, brokers, or dealers. 

In particular, the Exchange believes 

that the proposed rule change will 

further the Exchange’s goal of 

introducing new and innovative 

products to the marketplace. Currently, 

the Exchange believes that there is 

unmet market demand for exchangelisted security options listed on these 

ten popular cash indexes. Sector SPDRs 

and E-mini S&P Select Sector future 

products are listed and traded on other 

exchanges. As a result, CBOE believes 

that S&P Select Sector Index options are 

designed to provide different and 

additional opportunities for investors to 

hedge or speculate on the market risk 

associated with the S&P Select Sector 

Indexes by listing an option directly on 

these indexes. 

The S&P Select Sector Index options 

satisfy the initial listing standards for 

narrow-based indexes in the Exchange’s 

current rules. The proposed rule change 

merely adds the S&P Select Sector 

Indexes to the table regarding reporting 

authorities for indexes, to the rule 

regarding number of permissible 

expirations, to the list of European-style 

exercise index options, and to the list of 

A.M.-settled index options. These 

changes are consistent [sic] existing 

rules and index options currently 

authorized and listed for trading on the 

Exchange. The Exchange notes, with 

respect to these changes, standard thirdFriday SPX options (which overly the 

S&P 500, which consist of the same 

components as the S&P Select Sector 

Indexes in the aggregate) currently have 

the same reporting authority, the same 

number of permissible expirations, the 

same settlement, and the same exercise 

style. The Exchange has observed no 

trading or capacity issues in SPX trading 

given the number of permissible 

expirations, a.m. settlement, and 

European-style exercise. Because of the 

relation between the S&P Select Sector 

Indexes and the S&P 500, which will 

likely result in market participants’ 

investment and hedging strategies 

consisting of options over both, the 

Exchange believes it is appropriate to 

have the same number of expiration, 

settlement, and exercise style for both. 

The Exchange also represents that it has 

the necessary systems capacity to 

support the new option series given 

these proposed specifications. 

The Exchange believes the proposed 

initial low appointment cost for each 

S&P Select Sector Index option 

promotes competition and efficiency by 

incentivizing more Market-Makers to 

obtain an appointment in the newly 

listed classes. The Exchange believes 

this may result in liquidity and 

competitive pricing in these classes, 

which ultimately benefits investors. The 

proposed rule change does not result in 

unfair discrimination, as the 

appointment cost will apply to all 

Market-Makers in these classes. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

CBOE does not believe that the 

proposed rule change will impose any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. S&P Select 

Sector Indexes satisfy initial listing 

standards set forth in the Rules, and the 

proposed number of expirations, 

settlement, and exercise style are 

consistent with current rules applicable 

to index options, including standard 

third-Friday SPX options. Because of 

the relation [sic] between the S&P Select 

Sector Indexes and the S&P 500, which 

will likely result in market participants’ 

investment and hedging strategies 

consisting of options over both, the 

Exchange believes it is appropriate to 

have the same number of expirations, 

settlement, and exercise style for both 

options. S&P Select Sector Index 

options will provide investors with 

different and additional opportunities to 

hedge or speculate on the market 

associated with the S&P Select Sector 

indexes. 

The Exchange believes the proposed 

initial low appointment cost for each 


srobinson on DSKBC5CHB2PROD with NOTICES
Federal Register / Vol. 82, No. 202 / Friday, October 20, 2017 / Notices 48861 

16 15 U.S.C. 78s(b)(3)(A). 

17 17 CFR 240.19b–4(f)(6). 

18 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change at least five business days 

prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. The Exchange has satisfied this 

requirement. 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. 81510 

(Aug. 31, 2017), 82 FR 42399 (‘‘Notice’’). 

4See Post-Effective Amendment No. 595 to 

Registration Statement on Form N–1A for the Trust, 

dated July 27, 2017 (File Nos. 333–132380 and 811– 

21864). 

5According to the Exchange, none of the Trust, 

WisdomTree Asset Management, Inc. (‘‘Adviser’’), 

Mellon Capital Management (‘‘Sub-Adviser’’), State 

Street Bank and Trust Company (administrator, 

Continued 

S&P Select Sector Index option 

promotes competition and efficiency by 

incentivizing more Market-Makers to 

obtain an appointment in the newly 

listed classes. The Exchange believes 

this may result in liquidity and 

competitive pricing in these classes, 

which ultimately benefits investors. The 

proposed rule change does not result in 

unfair discrimination, as the 

appointment cost will apply to all 

Market-Makers in these classes. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: 

A. Significantly affect the protection 

of investors or the public interest; 

B. impose any significant burden on 

competition; and 

C. become operative for 30 days from 

the date on which it was filed, or such 

shorter time as the Commission may 

designate, it has become effective 

pursuant to Section 19(b)(3)(A) of the 

Act 16 and Rule 19b–4(f)(6) 17

thereunder.18 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. If the 

Commission takes such action, the 

Commission will institute proceedings 

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 Number SR– 

CBOE–2017–065 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 

Number SR–CBOE–2017–065. 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 Number SR–CBOE– 

2017–065 and should be submitted on 

or before November 13, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.19

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–22754 Filed 10–19–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81876; File No. SR– 

BatsBZX–2017–53] 

Self-Regulatory Organizations; Bats 

BZX Exchange, Inc.; Order Granting 

Approval of a Proposed Rule Change 

To List and Trade Shares of the 

WisdomTree CBOE Russell 2000 

PutWrite Strategy Fund, a Series of the 

WisdomTree Trust, Under Rule 

14.11(c)(3) (Index Fund Shares) 

October 16, 2017. 

I. Introduction 

On August 18, 2017, Bats BZX 

Exchange, Inc. (‘‘Exchange’’ or ‘‘BZX’’) 

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 

(‘‘Shares’’) of the WisdomTree CBOE 

Russell 2000 PutWrite Strategy Fund 

(‘‘Fund’’). The proposed rule change 

was published for comment in the 

Federal Register on September 7, 2017.3

The Commission has received no 

comments on the proposal. This order 

approves the proposed rule change. 

II. Exchange’s Description of the 

Proposed Rule Change 

The Exchange proposes to list and 

trade Shares of the Fund under Rule 

14.11(c), which governs the listing and 

trading of Index Fund Shares on the 

Exchange. The Fund will be an indexbased exchange-traded fund (‘‘ETF’’). 

The Shares will be offered by the 

WisdomTree Trust (‘‘Trust’’), which is 

registered with the Commission as an 

investment company and has filed a 

registration statement on Form N–1A 

(‘‘Registration Statement’’) with the 

Commission on behalf of the Fund.4

The Fund will seek investment results 

that track the price and yield 

performance, before fees and expenses, 

of the CBOE Russell 2000 PutWrite 

Index (‘‘Index’’), which was developed 

and is maintained by the Chicago Board 

Options Exchange, Inc. (‘‘CBOE’’ or 

‘‘Index Provider’’).5 The Index consists 


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