Document ID: SEC-2013-0870-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Posted Date: 2013-05-09T04:00Z

[Federal Register Volume 78, Number 90 (Thursday, May 9, 2013)]
[Notices]
[Page 27267]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-11019]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69508; File No. SR-NYSEArca-2013-34]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proposed Rule 
Change, as Modified by Amendment No. 1 Thereto, To Implement a One-Year 
Pilot Program for Issuers of Certain Exchange-Traded Products 
(``ETPs'') Listed on the Exchange

May 3, 2013.
    On March 21, 2013, NYSE Arca, Inc. (``Exchange'' or ``NYSE Arca'') 
filed with the Securities and Exchange Commission (``SEC'' or 
``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 implement a one-year pilot program for issuers 
of certain exchange-traded products (``ETPs'') listed on the Exchange. 
On April 5, 2013, the Exchange submitted Amendment No. 1 to the 
proposed rule change, which replaced and superseded the proposed rule 
change in its entirety. The proposed rule change, as modified by 
Amendment No. 1, was published for comment in the Federal Register on 
April 11, 2013.\3\ The Commission received two comment letters on the 
proposal.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 69335 (Apr. 5, 
2013), 78 FR 21681.
    \4\ See Letter from John T. Hyland, Chief Investment Officer, 
United States Commodity Funds LLC, dated Apr. 10, 2013, and Letter 
from Stanislav Dolgopolov, Assistant Adjunct Professor, UCLA School 
of Law, dated Apr. 26, 2013.
---------------------------------------------------------------------------

    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 
Commission is extending this 45-day time period.
---------------------------------------------------------------------------

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

    The Commission finds that it is 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, the 
comments received, and any response to the comments submitted by the 
Exchange. The proposed rule change would, among other things, create a 
one-year pilot program, the NYSE Arca ETP Incentive Program, for 
issuers of certain ETPs listed on the Exchange.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates June 17, 2013, as the date by which the Commission 
should either approve or disapprove or institute proceedings to 
determine whether to disapprove the proposed rule change (File Number 
SR-NYSEArca-2013-34).
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-11019 Filed 5-8-13; 8:45 am]
BILLING CODE 8011-01-P