Document ID: SEC-2019-1965-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Posted Date: 2019-12-30T05:00Z

[Federal Register Volume 84, Number 249 (Monday, December 30, 2019)]
[Notices]
[Pages 71993-71994]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-28023]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-87813; File No. SR-NYSEArca-2019-39]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether to Approve or Disapprove a Proposed Rule Change, as 
Modified by Amendment No. 1, To Amend NYSE Arca Rule 8.201-E 
(Commodity-Based Trust Shares) and to List and Trade Shares of the 
United States Bitcoin and Treasury Investment Trust Under NYSE Arca 
Rule 8.201-E

December 20, 2019.
    On June 12, 2019, NYSE Arca, Inc. (``NYSE Arca'' or ``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 NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares) and to list 
and trade shares of the United States Bitcoin and Treasury Investment 
Trust under NYSE Arca Rule 8.201-E. The proposed rule change was 
published for comment in the Federal Register on July 1, 2019.\3\
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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. 86195 (June 25, 
2019), 84 FR 31373 (July 1, 2019).
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    On August 12, 2019, pursuant to Section 19(b)(2) of the Act,\4\ the 
Commission designated a longer period within which to approve the 
proposed rule change, disapprove the proposed rule change, or institute 
proceedings to determine whether to disapprove the proposed rule 
change.\5\ On September 24, 2019, the Commission instituted proceedings 
under Section 19(b)(2)(B) of the Act \6\ to determine whether to 
approve or disapprove the proposed rule change.\7\ On October 4, 2019, 
the Exchange filed Amendment No. 1 to the proposed rule change, which 
replaced and superseded the proposed rule

[[Page 71994]]

change as originally filed.\8\ The proposed rule change, as modified by 
Amendment No. 1, was published in the Federal Register on October 21, 
2019.\9\ The Commission has received comment letters on the proposed 
rule change.\10\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 86631 (Aug. 12, 
2019), 84 FR 42028 (Aug. 16, 2019).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 87071 (Sept. 24, 
2019), 84 FR 51646 (Sept. 30, 2019). Specifically, the Commission 
instituted proceedings to allow for additional analysis of the 
proposed rule change's consistency with Section 6(b)(5) of the Act, 
which requires, among other things, that the rules of a national 
securities exchange be ``designed to prevent fraudulent and 
manipulative acts and practices, to promote just and equitable 
principles of trade,'' and ``to protect investors and the public 
interest.'' See id. at 51647 (citing 15 U.S.C. 78f(b)(5)).
    \8\ Amendment No. 1 is available at: https://www.sec.gov/comments/sr-nysearca-2019-39/srnysearca201939-6255643-192909.pdf.
    \9\ See Securities Exchange Act Release No. 87301 (Oct. 15, 
2019), 84 FR 56219 (Oct. 21, 2019).
    \10\ Comments on the proposed rule change can be found at: 
https://www.sec.gov/comments/sr-nysearca-2019-39/srnysearca201939.htm.
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    Section 19(b)(2) of the Act \11\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180 days after 
the date of publication of notice of filing of the proposed rule 
change. The Commission may extend the period for issuing an order 
approving or disapproving the proposed rule change, however, by not 
more than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for such determination. The date 
of publication of notice of filing of the proposed rule change was July 
1, 2019. December 28, 2019, is 180 days from that date, and February 
26, 2020, is 240 days from that date.
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    \11\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider this proposed 
rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\12\ designates February 26, 2020, as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-NYSEArca-2019-39).
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    \12\ Id.
    \13\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2019-28023 Filed 12-27-19; 8:45 am]
BILLING CODE 8011-01-P