Document ID: SEC-2018-2005-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Posted Date: 2018-12-27T05:00Z

[Federal Register Volume 83, Number 247 (Thursday, December 27, 2018)]
[Notices]
[Pages 66815-66818]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-27990]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84872; File No. SR-NYSEArca-2018-92]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Reflecting Changes 
to Certain Representations Relating to the Horizons S&P 500 Covered 
Call ETF

December 19, 2018.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that, on December 6, 2018, NYSE Arca, Inc. (the ``Exchange'' or 
``NYSE Arca'') 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 self-regulatory 
organization. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to reflect changes to certain representations 
made in the proposed rule changes previously filed with the Commission 
pursuant to Rule 19b-4 relating to the Horizons S&P 500 Covered Call 
ETF (the ``Target Fund''). Shares of the Target Fund are currently 
listed and traded on the Exchange under NYSE Arca Rule 5.2-E(j)(3). The 
proposed rule change is available on the Exchange's website at 
www.nyse.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 self-regulatory organization 
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 those 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 the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Commission has approved the listing and trading on the Exchange 
of shares (``Shares'') of the Target Fund, under NYSE Arca Rule 5.2-
E(j)(3) (formerly NYSE Arca Equities Rule 5.2(j)(3)), which governs the 
listing and trading of Investment Company Units.\4\ The Target Fund's 
Shares are currently listed and traded on the Exchange under NYSE Arca 
Rule 5.2-E(j)(3).\5\ The Target

[[Page 66816]]

Fund is a series of the Horizons ETF Trust I (``Trust'').\6\
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    \4\ An Investment Company Unit is a security that represents an 
interest in a registered investment company that holds securities 
comprising, or otherwise based on or representing an interest in, an 
index or portfolio of securities (or holds securities in another 
registered investment company that holds securities comprising, or 
otherwise based on or representing an interest in, an index or 
portfolio of securities). See NYSE Arca Rule 5.2-E(j)(3)(A).
    \5\ The Commission issued notice of a proposed rule change to 
permit listing and trading of Shares of the Target Fund in 
Securities Exchange Act Release Nos. 68351 (December 4, 2012), 77 FR 
73500 (December 10, 2012) (SR-NYSEArca-2012-131) (Notice of Filing 
of Proposed Rule Change Relating to Listing and Trading of Shares of 
the Horizons S&P 500 Covered Call ETF, Horizons S&P Financial Select 
Sector Covered Call ETF, and Horizons S&P Energy Select Sector 
Covered Call ETF under NYSE Arca Equities Rule 5.2(j)(3)) (``Prior 
Notice''); 68708 (January 23, 2013), 78 FR 6161 (January 29, 2013) 
(SR-NYSEArca-2012-131) (Order Approving Proposed Rule Change 
Relating to Listing and Trading of Shares of the Horizons S&P 500 
Covered Call ETF, Horizons S&P Financial Select Sector Covered Call 
ETF, and Horizons S&P Energy Select Sector Covered Call ETF under 
NYSE Arca Equities Rule 5.2(j)(3)) (``Prior Order'' and, together 
with the Prior Notice, the ``Prior Release''). See also, Securities 
Exchange Act Release No. 82190 (November 30, 2017), 82 FR 57635 
(December 6, 2017) (SR-NYSEArca-2017-123) (Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change To Reflect a Change 
to the Investment Objective and the Underlying Index for the 
Horizons S&P 500 Covered Call ETF) (``Second Prior Release'' and, 
together with the ``Prior Release'', ``Prior Releases'').
    \6\ The Trust is registered under the Investment Company Act of 
1940 (15 U.S.C. 80a-1) (``1940 Act''). On September 25, 2017, the 
Trust filed with the Commission an amendment to its Form N-1A under 
the Securities Act of 1933 (15 U.S.C. 77a) (``1933 Act''), and under 
the 1940 Act relating to the Target Fund (File Nos. 333-183155 and 
811-22732) (``Registration Statement'').
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    Global X Funds has filed a combined prospectus and proxy statement 
(the ``Proxy Statement'') with the Commission on Form N-14 describing a 
``Plan of Reorganization and Termination'' pursuant to which, following 
approval of the Target Fund's shareholders, all or substantially all of 
the assets and all of the stated liabilities included in the financial 
statements of the Target Fund would be transferred to a corresponding, 
newly-formed fund of Global X Funds, described below. The Global X S&P 
500[supreg] Covered Call ETF (the ``Acquiring Fund'') was established 
solely for the purpose of acquiring the assets and assuming the 
liabilities of the Target Fund and continuing the Target Fund's 
business. If shareholders of the Target Fund approve the Plan of 
Reorganization and Termination, the Target Fund will be reorganized 
into the Acquiring Fund (the ``Reorganization''), and shareholders will 
receive shares of the Acquiring Fund of the same number and with the 
same aggregate net asset value as the Target Fund immediately prior to 
the Reorganization in complete liquidation and dissolution of the 
Target Fund, and shareholders of the Target Fund would become 
shareholders of the Acquiring Fund. According to the Proxy Statement, 
the investment objective of the Acquiring Fund will be the same as that 
of the Target Fund following implementation of the Plan of 
Reorganization and Termination.\7\ Following shareholder approval and 
closing of the Reorganization, shareholders will receive shares of the 
Acquiring Fund of the same number and with the same aggregate net asset 
value as the Target Fund immediately prior to the Reorganization in 
complete liquidation and dissolution of the Target Fund, and 
shareholders of the Target Fund would become shareholders of the 
Acquiring Fund.
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    \7\ See registration statement on Form N-14 under the 1933 Act, 
dated October 3, 2018 (File No. 333-227685).
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    In this proposed rule change, the Exchange proposes to reflect a 
change to certain representations made in the Prior Releases, as 
described above,\8\ which changes would be implemented as a result of 
the Reorganization.\9\
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    \8\ See note 5, supra.
    \9\ The Target Fund's investment adviser, Horizons ETFs 
Management (US) LLC, represents that it will manage the Target Fund 
in the manner described in the Prior Releases for the Target Fund as 
referenced in note 5, supra, and the changes described herein will 
not be implemented until this proposed rule change is operative.
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Horizons S&P 500 Covered Call ETF \10\
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    \10\ On October 19, 2018, Global X Funds filed with the 
Commission a post-effective amendment to its registration statement 
on Form N-1A under the 1933 Act and under the 1940 Act relating to 
the Acquiring Fund (File Nos. 333-151713 and 811-22209). The October 
19, 2018 filing, which became effective on October 20, 2018 creates 
a new entity to serve as the vehicle into which the Target Fund will 
be reorganized through the Plan of Reorganization and Termination 
contained in the Proxy Statement. In addition, the Commission has 
issued an order granting certain exemptive relief to the Global X 
Funds under the 1940 Act. See Investment Company Act Release No. 
29852 (October 28, 2011) (File No. 812-13830).
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    The Prior Releases stated the name of the Target Fund as Horizons 
S&P 500 Covered Call ETF. Following the Reorganization, the name of the 
Acquiring Fund will be Global X S&P 500[supreg] Covered Call ETF.
    The Target Fund is currently a series of the Horizons ETF Trust 
I.\11\ Following the Reorganization, the Acquiring Fund will be a 
series of Global X Funds. The Target Fund's investment adviser is 
Horizons ETFs Management (US) LLC.\12\ Following the Reorganization, 
the Acquiring Fund's investment adviser will be Global X Management 
Company LLC.\13\
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    \11\ The Prior Notice stated that the Shares of the Target Fund 
are offered by the Exchange Traded Concepts Trust II. In the Second 
Prior Release, the Trust was identified as Horizons ETF Trust I.
    \12\ The Prior Notice identified the Target Fund's adviser as 
Exchange Traded Concepts, LLC. In the Second Prior Release, the 
Target Fund's adviser was identified as Horizons ETFs Management 
(US) LLC.
    \13\ Global X Management Company LLC is not registered as a 
broker-dealer but is affiliated with broker-dealers. Global X 
Management Company LLC has implemented and will maintain a fire wall 
with respect to its affiliated broker-dealers regarding access to 
information concerning the composition and/or changes to the 
Acquiring Fund's portfolio. In the event (a) Global X Management 
Company LLC becomes registered as a broker-dealer or newly 
affiliated with a broker-dealer, or (b) any new adviser or sub-
adviser becomes registered as a broker-dealer or newly affiliated 
with a broker-dealer, it will implement and maintain a fire wall 
with respect to its relevant personnel or such broker-dealer 
affiliate regarding access to information concerning the composition 
and/or changes to the Acquiring Fund's portfolio, and will be 
subject to procedures designed to prevent the use and dissemination 
of material non-public information regarding such portfolio. In 
addition, personnel who make decisions on the Acquiring Fund's 
portfolio composition must be subject to procedures designed to 
prevent the use and dissemination of material nonpublic information 
regarding the Acquiring Fund's portfolio.
    An investment adviser to an open-end fund is required to be 
registered under the Investment Advisers Act of 1940 (the ``Advisers 
Act''). As a result, with respect to the Acquiring Fund, Global X 
Management Company LLC, as adviser, and its related personnel, are 
subject to the provisions of Rule 204A-1 under the Advisers Act 
relating to codes of ethics. This Rule requires investment advisers 
to adopt a code of ethics that reflects the fiduciary nature of the 
relationship to clients as well as compliance with other applicable 
securities laws. Accordingly, procedures designed to prevent the 
communication and misuse of non-public information by an investment 
adviser must be consistent with Rule 204A-1 under the Advisers Act. 
In addition, Rule 206(4)-7 under the Advisers Act makes it unlawful 
for an investment adviser to provide investment advice to clients 
unless such investment adviser has (i) adopted and implemented 
written policies and procedures reasonably designed to prevent 
violation, by the investment adviser and its supervised persons, of 
the Advisers Act and the Commission rules adopted thereunder; (ii) 
implemented, at a minimum, an annual review regarding the adequacy 
of the policies and procedures established pursuant to subparagraph 
(i) above and the effectiveness of their implementation; and (iii) 
designated an individual (who is a supervised person) responsible 
for administering the policies and procedures adopted under 
subparagraph (i) above.
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    The Target Fund's current principal underwriter and distributor is 
Foreside Fund Services, LLC. Following the Reorganization, the 
Acquiring Fund's principal underwriter and distributor will be SEI 
Investments Distribution Co.
    The Target Fund's current transfer agent and administrator is U.S. 
Bancorp Fund Services, LLC. Following the Reorganization, the Acquiring 
Fund's administrator will be Global X Management Company LLC, the 
Acquiring Fund's sub-administrator will be SEI Investments Global Funds 
Services, and the Acquiring Fund's transfer agent will be Brown 
Brothers Harriman & Co.\14\ The Target Fund's current custodian is U.S. 
Bank, N.A. Following the Reorganization, the Acquiring Fund's custodian 
will be Brown Brothers Harriman & Co.\15\ The Second Prior Release 
stated that the Bank of New York Mellon serves as sub-custodian for the 
Target Fund. Following the Reorganization, the Acquiring Fund would not 
have a sub-custodian.
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    \14\ The Prior Notice identified the Target Fund's transfer 
agent and administrator as Citi Fund Services Ohio, Inc. In the 
Second Prior Release, the Target Fund's transfer agent and 
administrator were identified as U.S. Bancorp Fund Services, LLC.
    \15\ The Prior Notice identified the Target Fund's custodian as 
Citibank, N.A. In the Second Prior Release, the Target Fund's 
custodian was identified as U.S. Bank, N.A.
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    The Prior Notice stated that all orders to purchase or redeem 
Shares directly from the Target Fund must be placed for

[[Page 66817]]

one or more Creation Units by 4:00 p.m., Eastern time (``E.T.'') in the 
manner set forth in the relevant participant agreement and/or 
applicable order form. The Exchange proposes that, following the 
Reorganization, all orders to purchase or redeem Shares directly from 
the Acquiring Fund must be placed for one or more Creation Units by 
3:00 p.m., E.T. Because the Acquiring Fund's investments in options 
contracts cannot be delivered in-kind as Deposit Securities (as defined 
below), the Acquiring Fund must directly enter into or close such 
options contracts in connection with any Shares purchased or redeemed 
directly from the Acquiring Fund.\16\ A cut-off time prior to 4:00 
p.m., E.T., when the Acquiring Fund's net asset value will be 
calculated, would ensure that the Acquiring Fund would be notified of 
any such purchase or redemption activity with sufficient time to enter 
into or close options positions at the same time as the determination 
of the Acquiring Fund's net asset value and prior to the close of the 
options market at 4:15 p.m., E.T. The Exchange notes that the 
Commission has previously approved Exchange listing and trading of 
issues of Managed Fund Shares under NYSE Arca Rule 8.600-E for which 
the cut-off time for placing orders to create or redeem is 3:00 p.m., 
E.T.\17\
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    \16\ As stated in the Prior Notice, the consideration for 
purchase of a Creation Unit of the Target Fund generally consists of 
the in-kind deposit of a designated portfolio of securities 
(``Deposit Securities'') per each Creation Unit, constituting a 
substantial replication, or a portfolio sampling representation, of 
the securities included in the Target Fund's underlying Index, 
together with the deposit of a specified cash payment. The 
consideration for redemption of a Creation Unit of the Target Fund 
generally consists of Deposit Securities together with a Cash 
Component.
    \17\ See, e.g., Securities Exchange Act Release Nos. 73716 
(December 2, 2014), 79 FR 72723 (December 8, 2014) (SR-NYSEArca-
2014-134) (Notice of Filing of Proposed Rule Change Relating to 
Listing and Trading the following Series of IndexIQ Active ETF Trust 
under NYSE Arca Equities Rule 8.600: IQ Wilshire Alternative 
Strategies ETF); 71894 (April 7, 2014), 79 FR 20273 (April 11, 2014) 
(SR-NYSEArca-2014-30) (Notice of Filing of Proposed Rule Change 
Relating to Listing and Trading Shares of Hull Tactical US ETF under 
NYSE Arca Equities Rule 8.600).
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    The Target Fund's current website is us.horizonsetfs.com. Following 
implementation of the Reorganization, the Acquiring Fund's website will 
be www.globalxfunds.com.
    The investment objective of the Acquiring Fund will remain 
unchanged from that of the Target Fund. In addition, the Index 
underlying the Acquiring Fund meets and will continue to meet the 
representations regarding the Index as described in the Prior 
Releases.\18\ Except for the changes noted above, all other 
representations made in the Prior Releases remain unchanged.\19\ Global 
X Management Company LLC represents that the Target Fund and Acquiring 
Fund will satisfy all applicable requirements of the 1940 Act and 1933 
Act in connection with the Reorganization.
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    \18\ As stated in the Second Prior Release, S&P Dow Jones 
Indices LLC is the ``Index Provider'' for the Index and is 
unaffiliated with the Target Fund or Horizons ETFs Management (US) 
LLC, the adviser for the Target Fund. Following the Reorganization, 
the Index Provider will be unaffiliated with the Acquiring Fund or 
Global X Management Company LLC. The Index Provider is not a broker-
dealer and is not affiliated with a broker-dealer and has 
implemented procedures designed to prevent the use and dissemination 
of material, non-public information regarding the Index.
    \19\ See note 5, supra. All terms referenced but not defined 
herein are defined in the Prior Releases.
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2. Statutory Basis
    The basis under the Act for this proposed rule change is the 
requirement under Section 6(b)(5) \20\ that an exchange have rules that 
are designed to prevent fraudulent and manipulative acts and practices, 
to promote just and equitable principles of trade, to remove 
impediments to, and perfect the mechanism of a free and open market 
and, in general, to protect investors and the public interest.
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    \20\ 15 U.S.C. 78f (b)(5).
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    The Exchange believes that the proposed rule change is designed to 
prevent fraudulent and manipulative acts and practices, and is designed 
to promote just and equitable principles of trade and to protect 
investors and the public interest.
    Global X Funds has filed the Proxy Statement describing the 
Reorganization pursuant to which, following approval of the Target 
Fund's shareholders, all or substantially all of the assets and all of 
the stated liabilities included in the financial statements of the 
Target Fund would be transferred to a corresponding, newly-formed fund 
of Global X Funds. This filing proposes to reflect organizational and 
administrative changes that would be implemented as a result of the 
Reorganization. As noted above, Global X Management Company LLC is not 
registered as a broker-dealer but is affiliated with broker-dealers. 
Global X Management Company LLC has implemented and will maintain a 
fire wall with respect to its affiliated broker-dealers regarding 
access to information concerning the composition and/or changes to the 
Acquiring Fund's portfolio. In the event (a) Global X Management 
Company LLC becomes registered as a broker-dealer or newly affiliated 
with a broker-dealer, or (b) any new adviser or sub-adviser becomes 
registered as a broker-dealer or newly affiliated with a broker-dealer, 
it will implement and maintain a fire wall with respect to its relevant 
personnel or such broker-dealer affiliate regarding access to 
information concerning the composition and/or changes to the portfolio, 
and will be subject to procedures designed to prevent the use and 
dissemination of material non-public information regarding such 
portfolio. According to the Proxy Statement, the investment objective 
of the Acquiring Fund will be the same as the investment objective of 
the Target Fund following implementation of the Reorganization. With 
respect to the proposal that orders to purchase or redeem Shares 
directly from the Acquiring Fund must be placed for one or more 
Creation Units by 3:00 p.m., E.T., a cut-off time prior to 4:00 p.m., 
E.T., when the Acquiring Fund's net asset value will be calculated, 
would ensure that the Acquiring Fund would be notified of any such 
purchase or redemption activity with sufficient time to enter into or 
close options positions at the same time as the determination of the 
Acquiring Fund's net asset value and prior to the close of the options 
market at 4:15 p.m., E.T. The Exchange notes that the Commission has 
previously approved Exchange listing and trading of issues of Managed 
Fund Shares under NYSE Arca Rule 8.600-E for which the cut-off time for 
placing orders to create or redeem is 3:00 p.m., E.T.\21\ The Exchange 
believes the proposed changes will not adversely impact investors or 
Exchange trading. In addition, the Index underlying the Acquiring Fund 
meets and will continue to meet the representations regarding the Index 
as described in the Prior Releases.
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    \21\ See note 17, supra.
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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 purposes of the Act. The Exchange believes the 
proposed rule change will enhance competition and benefit investors and 
the marketplace by permitting continued listing and trading of Shares 
of the Acquiring Fund following implementation of the changes described 
above that would follow the Reorganization, which changes would not 
impact the investment objective of the Acquiring Fund or the Target 
Fund.

[[Page 66818]]

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received with respect to 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: (i) 
Significantly affect the protection of investors or the public 
interest; (ii) impose any significant burden on competition; and (iii) 
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 \22\ and Rule 19b-
4(f)(6) thereunder.\23\
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    \22\ 15 U.S.C. 78s(b)(3)(A).
    \23\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written 
notice of its intent to file the proposed rule change, along with a 
brief description and the text of 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.
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    A proposed rule change filed under Rule 19b-4(f)(6) \24\ normally 
does not become operative for 30 days after the date of filing. 
However, Rule 19b-4(f)(6)(iii) \25\ permits the Commission to designate 
a shorter time if such action is consistent with the protection of 
investors and the public interest. In its filing with the Commission, 
the Exchange requested that the Commission waive the 30-day operative 
delay so that the proposed rule change may become operative upon 
filing. The Commission notes that the Exchange's proposal would make 
organizational and administrative changes that would be implemented as 
a result of the Reorganization, as well as reflect a change in the cut-
off time for orders to create or redeem Shares. The Commission believes 
that waiver of the 30-day operative delay would permit continued 
listing and trading of the Shares of the Acquiring Fund on the Exchange 
upon shareholder approval of the Reorganization.\26\ For these reasons, 
the Commission believes that waiving the 30-day operative delay is 
consistent with the protection of investors and the public interest. 
Therefore, the Commission hereby waives the operative delay and 
designates the proposal as operative upon filing.\27\
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    \24\ 17 CFR 240.19b-4(f)(6).
    \25\ 17 CFR 240.19b-4(f)(6)(iii).
    \26\ The Commission notes that, according to the Exchange, the 
Target Fund and the Acquiring Fund will satisfy all applicable 
requirements of the 1940 Act and the 1933 Act in connection with the 
Reorganization.
    \27\ For purposes only of waiving the 30-day operative delay, 
the Commission also has considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
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    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-NYSEArca-2018-92 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-NYSEArca-2018-92. 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 website (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 website 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-NYSEArca-2018-92 and should be submitted 
on or before January 17, 2019.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\28\
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    \28\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2018-27990 Filed 12-26-18; 8:45 am]
BILLING CODE 8011-01-P