Federal Register / Vol. 82, No. 219 / Wednesday, November 15, 2017 / Notices 52955 

11 15 U.S.C. 78s(b)(3)(A)(ii). 

12 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

technology has changed and continues 

to change. Nasdaq believes that 

customers support the continued 

evolution of its rules, and that regulators 

do and should support and facilitate 

this evolution. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange believes that the 

proposed rule change will not impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act. To the 

contrary, the Exchange believes that 

applying equal fees to similarly situated 

Extranet Providers and Distributors, 

enhancing the clarity of the Rules, and 

eliminating ambiguity imposes no 

burden on competition and is, in fact, 

pro-competitive. Extranet Providers and 

Distributors benefit from having a more 

accurate and complete understanding of 

Nasdaq’s services and fees when 

determining which if any of those 

competing services to purchase 

voluntarily. 

Nasdaq believes that the proposed 

rule change places no burden on 

competition because it specifies that 

identical fees will apply to all similarly 

situated Distributors and Extranet 

Providers that provide Exchange market 

data feeds to their own customers. As 

described above, such Distributors and 

Extranet Providers offer the same 

Exchange market data feeds in the same 

manner to similarly situated customers. 

Nasdaq offers similar benefits to 

Distributors and Extranet Providers by 

offering them such access to Exchange 

market data feeds. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

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.11

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: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) 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– 

NASDAQ–2017–114 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–NASDAQ–2017–114. 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. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–NASDAQ–2017–114 and 

should be submitted on or before 

December 6, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–24658 Filed 11–14–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–82036; File No. SR–BX– 

2017–048] 

Self-Regulatory Organizations; Nasdaq 

BX, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to the Access 

and Redistribution Fee 

November 8, 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 October 

26, 2017, Nasdaq BX, Inc. (‘‘BX’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘Commission’’) the 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 proposes to amend and 

conform BX Equities Rule 7025 and 

Chapter XV, Section 3(c) of the 

Exchange’s Options Rules, to define key 

terms; to clarify the rule language; and 

to clarify its application to Extranet 

Providers and Distributors in various 

contexts. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://nasdaqbx.cchwallstreet.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 


sradovich on DSK3GMQ082PROD with NOTICES
52956 Federal Register / Vol. 82, No. 219 / Wednesday, November 15, 2017 / Notices 

3See Securities Exchange Act Release No. 59307 

(Jan. 28, 2009), 74 FR 6069 (Feb. 4, 2009) (SR–BX– 

2009–005). 

4See Securities Exchange Act Release No. 74045 

(Jan. 13, 2015); 80 FR 2766 (Jan. 20, 2015) (SR–BX– 

2015–003). 

5Available at http://www.nasdaqtrader.com/ 

Content/AdministrationSupport/AgreementsData/ 

NASDAQOMXExtranetAgreement.pdf. 

6Proposed Rules 7025(c) and Section 3(c) of 

Chapter XV of the Otpions [sic] Rules apply only 

to Distributors that connect to Nasdaq [sic] via a 

Direct Circuit Connection pursuant to Rule 7051(a). 

They do not apply to Distributors that are colocated with Nasdaq [sic] pursuant to Rule 7034 

and that connect to Nasdaq [sic] as specified under 

that Rule. Nor do they apply to entities that connect 

to Nasdaq [sic] remotely via Point of Presence 

Connectivity under Rule 7051(c) as set forth in SR– 

NASDAQ–2017–97. 

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 proposed rule change concerns 

BX Rule 7025 (the ‘‘Equities Rule’’) and 

Chapter XV, Section 3(c) of the 

Exchange’s Options Rules (the ‘‘Options 

Rule,’’ collectively the ‘‘Rules’’), 

currently entitled ‘‘Extranet Access 

Fee.’’ The Exchange first imposed an 

Extranet Access Fee in 2009.3 The 

Exchange last amended the Extranet 

Access Fee in January of 2015.4 Today, 

technology and the ecosystem have 

changed such that the Rules need 

updating and clarification. Therefore, 

the Exchange is proposing several 

parallel changes to the Rules. 

First, the Exchange is proposing to 

rename both Rules and to clarify their 

meaning through the use of defined 

terms. The Exchange is adding 

definitions of the terms Equipment 

Configuration and Extranet Provider to 

new subsections 7025(a) of the Equities 

Rule and Sec. 3(c)(1) of the Options 

Rule. The Exchange is also crossreferencing the definition of Distributors 

currently set forth in Exchange Rule 

7019(b). 

The term ‘‘Equipment Configuration’’ 

will be defined to mean ‘‘any line, 

circuit, router package, or other 

technical configuration used to provide 

a connection to the Exchange market 

data feeds.’’ The term Equipment 

Configuration replaces the term 

‘‘Customer Premises Equipment 

Configuration’’ set forth in the current 

rules. The Exchange believes that the 

term ‘‘Customer Premises Equipment 

Configuration’’ is ambiguous and creates 

confusion about the ownership and 

location of equipment through which 

direct access to market data feeds is 

provided. By referring instead to 

‘‘Equipment Configuration,’’ the 

Exchange intends to specify that the 

ownership and location of the 

equipment is inconsequential to the 

application of access and redistribution 

fees. Rather, it is the number of 

configurations that matters, determining 

the number of monthly access and 

redistribution fees to be assessed. 

For example, if an Extranet Provider 

supplies market data to five recipients 

via five configurations, two of which are 

located in a single Exchange facility 

(such as Carteret, New Jersey) and three 

of which are located at different 

customer facilities, the Extranet 

Provider will be assessed access and 

redistribution fees of $5,000 per month. 

If an Extranet Provider supplies market 

data to one customer at two separate 

locations via two configurations—one 

within a Exchange facility and one 

located elsewhere—the Extranet 

Provider will be assessed access and 

redistribution fees of $2,000 per month. 

If an Extranet Provider supplies market 

data to four customers via four 

configurations all located within an 

Exchange co-location facility, the 

Extranet Provider will be assessed 

$4,000 per month in access and 

redistribution fees. The Exchange is 

proposing to define the term ‘‘Extranet 

Provider’’ as ‘‘any entity that has signed 

the Exchange Extranet Connection 

Agreement and that establishes a 

telecommunications connection in the 

Exchange’s co-location facility.’’ The 

Exchange requires entities to sign the 

Exchange Extranet Connection 

Agreement 5 for the purpose of setting 

the terms and conditions for those 

entities to place equipment in the 

Exchange’s co-location facility in order 

to establish a telecommunications 

connection directly to the Exchange and 

to provide its own customers with 

access to the Exchange market data 

feeds. 

Finally, in order to further enhance 

the clarity of the Exchange’s rules, the 

Exchange is proposing to cross-reference 

the definition of ‘‘Distributor’’ for 

purposes of this rule. Rule 7019(b) 

currently defines Distributor as: 

[A]ny entity that receives a feed or data file 

of Exchange data directly from the Exchange 

or indirectly through another entity and then 

distributes it either internally (within that 

entity) or externally (outside that entity). All 

distributors shall execute an Exchange 

distributor agreement. The Exchange itself is 

a vendor of its data feed(s) and has executed 

an Exchange distributor agreement and pays 

the distributor charge. 

The Exchange is proposing to 

renumber and rearrange the existing 

rule text of the Rules. The first two 

sentences of existing rule text will 

become new subsection 7025(b) of the 

Equities Rule and Sec. 3(c)(1) of the 

Options Rule. The Exchange also 

proposes to improve the clarity of 

subsection 7025(b) of the Equities Rule 

and Sec. 3(c)(2) of the Options Rule by 

using the new definitions outlined 

above and by specifying that the 

monthly fees referred to are the monthly 

access and redistribution fees. As 

described earlier, the third sentence of 

existing rule text is being modified and 

moved, respectively, to paragraphs (1) 

and (A) of new subsections 7025(a) of 

the Equities Rule and Sec. 3(c)(1) of the 

Options Rule as the improved definition 

of ‘‘Equipment Configuration.’’ The 

fourth and fifth sentences of existing 

rule text will move to new subsection 

7025(d) of the Equities Rule and Sec. 

3(c)(4) of the Options Rule with modest 

textual improvements but no change in 

application of fees. The sixth sentence 

of existing rule text will move to the 

final sentences of subsections 7025(b) 

and (c) of the Equities Rule and Sec. 

3(c)(2) and (c)(3) of the Options Rule 

with minor textual enhancements to 

apply it with equal effect to Extranet 

Providers and Distributors. 

Lastly, the Exchange proposes to add 

new subsection 7025(c) to the Equities 

Rule and Sec. 3(c)(3) to the Options 

Rule to specify and codify that similarly 

situated Distributors and Extranet 

Providers will pay similar fees. Under 

subsection 7025(b) of the Equities Rule 

and Sec. 3(c)(2) of the Options Rule, 

Extranet Providers are assessed a 

monthly fee of $1,000 for each 

Equipment Configuration that offers 

Exchange market data feeds. Similarly, 

under proposed subsection 7025(c) of 

the Equities Rule and Sec. 3(c)(3) of the 

Options Rule, the same $1,000 monthly 

fee applies to Distributors to whom the 

same Exchange market data feeds are 

published via a Direct Circuit 

Connection to the Exchange. The 

Exchange believes that, as defined, 

Extranet Providers and Distributors are 

similarly situated because both entities 

connect directly to the Exchange, and 

both provide Exchange market data 

feeds to their customers via those 

connections.6 Likewise, the customers 

of Extranet Providers and Distributors 

are similarly situated in that they 

receive the same Exchange market data 

feeds through similar means. 

For example, a Distributor with two 

Direct Circuit Connections to the 


sradovich on DSK3GMQ082PROD with NOTICES
Federal Register / Vol. 82, No. 219 / Wednesday, November 15, 2017 / Notices 52957 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(4) and (5). 

9Securities Exchange Act Release No. 51808 

(June 9, 2005), 70 FR 37496, 37499 (June 29, 2005) 

(‘‘Regulation NMS Adopting Release’’). 10 15 U.S.C. 78s(b)(3)(A)(ii). 

Exchange, both of which emanate from 

a single Exchange co-location facility 

(such as Carteret, New Jersey) and both 

of which receive Exchange market data 

feeds, will be assessed access and 

redistribution fees of $2,000 per month. 

A Distributor with two Direct Circuit 

Connections to the Exchange that 

emanate from two separate locations 

and that receives Exchange market data 

feeds over each connection will be 

assessed access and redistribution fees 

of $2,000 per month. A Distributor with 

two Direct Circuit Connections to the 

Exchange that emanate from two 

separate locations and that receives 

Exchange market data feeds over only 

one of the connections will be assessed 

access and redistribution fees of $1,000 

per month. 

The Exchange previously assessed 

and currently assesses this fee in its 

capacity as operator of Nasdaq 

Technology Services, which had been 

considered an Extranet Provider. The 

Exchange believes that defining Extranet 

Providers and codifying the fee to 

Distributors (other than Extranet 

Providers) is clearer to market 

participants. The Exchange also 

understands that Distributors, like 

Extranet Providers, commonly pass the 

fee on to their customers and therefore 

specifying that Distributors employing a 

Direct Circuit Connection also pay the 

fee will ensure consistent treatment 

between users enjoying the same 

benefits via Extranet Providers on the 

one hand and Distributors on the other, 

as described above. 

2. Statutory Basis 

The Exchange believes that this 

proposal is consistent with Section 6(b) 

of the Act,7 in general, and furthers the 

objectives of Sections 6(b)(4) and 6(b)(5) 

of the Act,8 in particular, in that it 

provides for an equitable allocation of 

reasonable dues, fees and other charges 

among members and issuers and other 

persons using its facility, and to specify 

that the fees are not designed to permit 

unfair discrimination between 

customers, issuers, brokers, or dealers. 

The Exchange believes that the 

application of identical Access and 

Redistribution fees to Distributors and 

Extranet Providers as described in the 

proposed rule change is fair and 

equitable and non-discriminatory. As 

stated above, Distributors and Extranet 

Providers both connect to the Exchange 

directly for the purpose of redistributing Exchange market data feeds 

to their own customers and both enjoy 

similar benefits in doing so. Likewise, 

those customers, whether receiving 

Exchange market data feeds via a 

Distributor or an Extranet Provider 

receive those market data feeds in a 

similar fashion and with similar 

benefits. Those benefits are 

considerable: Secure, rapid, reliable 

access to the highest quality market data 

feeds on the trading of equities and 

options on the Exchange. 

The Commission and the courts have 

repeatedly expressed their preference 

for competition over regulatory 

intervention in determining prices, 

products, and services in the securities 

markets. In regulation NMS, while 

adopting a series of steps to improve the 

current market model, the Commission 

highlighted the importance of market 

forces in determining prices and SRO 

revenues and, also, recognized that 

current regulation of the market system 

‘‘has been remarkably successful in 

promoting market competition in its 

broader forms that are most important to 

investors and listed companies.’’ 9

The Exchange believes it is fair and 

equitable and not discriminatory to 

apply equal access and redistribution 

fees to Distributors, as it does to 

Extranet Providers. As stated above, 

Distributors and Extranet Providers are 

similarly situated in that they receive 

Exchange market data feeds directly 

from the Exchange and they redistribute 

that data to their own customers. 

Likewise, the Exchange believes that the 

customers of Extranet Providers and of 

Distributors are similarly situated in the 

manner in which they receive Exchange 

market data feeds. 

The Exchange believes that it is 

consistent with an equitable allocation 

of reasonable dues and fees and not 

unfairly discriminatory to charge the 

fees proposed under Rule 7025 and 

Section 3(c) of Chapter XV of the 

Otpions [sic] Rules to Extranet Providers 

and Distributors that are not co-located, 

but not to charge those same fees to 

Distributors that are co-located. First, 

Distributors that are co-located already 

pay fees set forth in Rule 7034 which 

include connectivity and access to data. 

Second, if a co-located Distributor were 

to send data feeds out of the co-location 

facility, the feeds would be processed 

and normalized by the Distributor as 

opposed to by the Exchange; in that 

case, the Distributor would not be using 

the proximity for which Extranets and 

Direct Circuit Connection Distributors 

are being assessed fees under Rule 7025 

and Section 3(c) of Chapter XV of the 

Options Rules. 

The Exchange is proposing to enhance 

the clarity of the language of the Rules 

to ensure that customers understand the 

proper application of the Rules as 

technology has changed and continues 

to change. The Exchange believes that 

customers support the continued 

evolution of its rules, and that regulators 

do and should support and facilitate 

this evolution. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange believes that the 

proposed rule change will not impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act. To the 

contrary, the Exchange believes that 

applying equal fees to similarly situated 

Extranet Providers and Distributors, 

enhancing the clarity of the Rules, and 

eliminating ambiguity imposes no 

burden on competition and is, in fact, 

pro-competitive. Extranet Providers and 

Distributors benefit from having a more 

accurate and complete understanding of 

the Exchange’s services and fees when 

determining which if any of those 

competing services to purchase 

voluntarily. 

The Exchange believes that the 

proposed rule change places no burden 

on competition because it specifies that 

identical fees will apply to all similarly 

situated Distributors and Extranet 

Providers that provide Exchange market 

data feeds to their own customers. As 

described above, such Distributors and 

Extranet Providers offer the same 

Exchange market data feeds in the same 

manner to similarly situated customers. 

The Exchange offers similar benefits to 

Distributors and Extranet Providers by 

offering them such access to Exchange 

market data feeds. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

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.10

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: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 


sradovich on DSK3GMQ082PROD with NOTICES
52958 Federal Register / Vol. 82, No. 219 / Wednesday, November 15, 2017 / Notices 

11 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. 81737 

(September 27, 2017), 82 FR 46106. 

4Amendment No. 1, which replaced and 

superseded the proposed rule change as originally 

filed, is available at: https://www.sec.gov/ 

comments/sr-nysearca-2017-112/nysearca2017112- 

2653769-161363.pdf. 

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

6 Id. 

7 17 CFR 200.30–3(a)(31). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 81699 

(Sept. 25, 2017), 82 FR 45634. 

4Amendment No. 1, which amended and 

replaced the proposed rule change in its entirety, 

is available on the Commission’s Web site at: 

of investors; or (iii) 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– 

BX–2017–048 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–BX–2017–048. 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. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–BX–2017–048 and should 

be submitted on or before December 6, 

2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–24657 Filed 11–14–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–82031; File No. SR– 

NYSEArca–2017–112] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Designation of a 

Longer Period for Commission Action 

on Proposed Rule, as Modified by 

Amendment No. 1 Thereto, to List and 

Trade Shares of the GraniteShares 

Palladium Trust under NYSE Arca Rule 

8.201–E 

November 8, 2017. 

On September 12, 2017, NYSE Arca, 

Inc. (‘‘Exchange’’) 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 

GraniteShares Palladium Trust under 

NYSE Arca Rule 8.201–E. The proposed 

rule change was published for comment 

in the Federal Register on October 3, 

2017.3 On October 24, 2017, the 

Exchange filed Amendment No. 1 to the 

proposed rule change.4 The Commission 

has not received any comments on the 

proposed rule change. 

Section 19(b)(2) of the Act 5 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 November 17, 

2017. The Commission is extending this 

45-day time period. 

The Commission finds it appropriate 

to designate a longer period within 

which to take action on the proposed 

rule change so that it has sufficient time 

to consider this proposed rule change, 

as modified by the recently filed 

amendment. Accordingly, the 

Commission, pursuant to Section 

19(b)(2) of the Act,6 designates January 

1, 2018, 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 No. SR– 

NYSEArca-2017–112), as modified by 

Amendment No. 1. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–24654 Filed 11–14–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–82040; File No. SR– 

NYSEArca–2017–111] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Designation of a 

Longer Period for Commission Action 

on a Proposed Rule Change, as 

Modified by Amendment No. 1, To List 

and Trade Shares of the GraniteShares 

Silver Trust Under NYSE Arca Rule 

8.201–E 

November 8, 2017. 

On September 12, 2017, NYSE Arca, 

Inc. (‘‘Exchange’’) 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 

GraniteShares Silver Trust under NYSE 

Arca Rule 8.201–E. The proposed rule 

change was published for comment in 

the Federal Register on September 29, 

2017.3 On October 24, 2017, the 

Exchange filed Amendment No. 1 to the 

proposed rule change.4 The Commission 


sradovich on DSK3GMQ082PROD with NOTICES