Document ID: SEC-2016-1596-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE MKT, LLC
Posted Date: 2016-09-07T04:00Z

[Federal Register Volume 81, Number 173 (Wednesday, September 7, 2016)]
[Notices]
[Page 61725]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-21383]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78744; File No. SR-NYSEMKT-2016-48]

Self-Regulatory Organizations; NYSE MKT LLC; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Amend Certain Rules Relating to Flexible Exchange Options

August 31, 2016.
    On July 1, 2016, NYSE MKT LLC (``NYSE MKT'' or the ``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 
amend certain rules related to Flexible Exchange (``FLEX'') Options. 
The proposed rule change was published for comment in the Federal 
Register on July 21, 2016.\3\ On August 30, 2016, the Exchange filed 
Amendment No. 1 to the proposed rule change.\4\ No comments have been 
received on the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C.78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 78348 (July 15, 
2016), 81 FR 47469.
    \4\ Amendment No. 1 adds detail about limitations on FLEX Binary 
Return Derivatives (``ByRDs''), specifies that Asian and Cliquet 
style settlements will be available for broad-based FLEX Index 
Options only, and removes an alternative exercise settlement style 
for FLEX Equity Options. See Amendment No. 1.
---------------------------------------------------------------------------

    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 September 4, 2016. The Commission is extending this 45-day time 
period for Commission action on the proposed rule change.
---------------------------------------------------------------------------

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

    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 the proposed rule change, as modified by 
Amendment No. 1. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\6\ and for the reason noted above, designates 
October 19, 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-NYSEMKT-2016-48).
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2).
    \7\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-21383 Filed 9-6-16; 8:45 am]
BILLING CODE 8011-01-P