Document ID: SEC-2016-1866-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Bats BZX Exchange, Inc.
Posted Date: 2016-10-19T04:00Z

[Federal Register Volume 81, Number 202 (Wednesday, October 19, 2016)]
[Notices]
[Page 72141]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-25235]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79092; File No. SR-BATSBZX-2016-48]

Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proposed Rule 
Change, as Modified by Amendment No. 1 Thereto, to List and Trade 
Shares of the iShares iBonds Dec 2023 Term Muni Bond ETF and iShares 
iBonds Dec 2024 Term Muni Bond ETF of the iShares U.S. ETF Trust

October 13, 2016.
    On August 9, 2016, Bats BZX Exchange, 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 iShares iBonds Dec 2023 Term Muni Bond ETF and 
iShares iBonds Dec 2024 Term Muni Bond ETF (collectively, ``Funds'') 
pursuant to Exchange Rule 14.11(c)(4). The proposed rule change was 
published for comment in the Federal Register on August 30, 2016.\3\ On 
October 6, 2016, the Exchange filed Amendment No. 1 to the proposed 
rule change, which amended and replaced in its entirety the proposal as 
originally submitted.\4\ The Commission has not received any comments 
on the proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 78666 (Aug. 24, 
2016), 81 FR 59700.
    \4\ In Amendment No. 1, the Exchange: (1) Clarified the amounts 
of certain municipal securities that the Funds would hold; (2) 
represented that at least 90% of the Funds' net assets that are 
invested in listed derivatives would be invested in instruments that 
trade in markets that are members or affiliates of members of the 
Intermarket Surveillance Group or are parties to a comprehensive 
surveillance sharing agreement with the Exchange; (3) provided 
greater detail regarding the types of short-term instruments in 
which the Funds may invest; and (4) supplemented the information 
provided regarding the availability of price information for the 
Funds' permitted investments.
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    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 October 14, 2016. The Commission is extending this 45-day time 
period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    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 
Amendment No. 1. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\6\ designates November 28, 2016, 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-BATSBZX-2016-48) as modified by Amendment No. 1.
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    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-25235 Filed 10-18-16; 8:45 am]
 BILLING CODE 8011-01-P