Document ID: SEC-2018-0474-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Cboe BZX Exchange, Inc., Cboe BYX Exchange, Inc., et al.
Posted Date: 2018-03-21T04:00Z

[Federal Register Volume 83, Number 55 (Wednesday, March 21, 2018)]
[Notices]
[Pages 12432-12447]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-05661]

[[Page 12432]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82888; File No. 4-631]

Joint Industry Plan; Notice of Filing of the Seventeenth 
Amendment to the National Market System Plan To Address Extraordinary 
Market Volatility by Cboe BZX Exchange, Inc., Cboe BYX Exchange, Inc., 
Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Chicago Stock 
Exchange, Inc., Financial Industry Regulatory Authority, Inc., 
Investors Exchange LLC, NASDAQ BX, Inc., NASDAQ PHLX LLC, The Nasdaq 
Stock Market LLC, NYSE National, Inc., New York Stock Exchange LLC, 
NYSE American LLC, and NYSE Arca, Inc.

March 15, 2018.

I. Introduction

    On February 26, 2018, NYSE Group, Inc., on behalf of the following 
parties to the National Market System Plan to Address Extraordinary 
Market Volatility (``the Plan''): \1\ Cboe BZX Exchange, Inc., Cboe BYX 
Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., 
Chicago Stock Exchange, Inc., the Financial Industry Regulatory 
Authority, Inc. (``FINRA''), Investors Exchange LLC, NASDAQ BX, Inc., 
NASDAQ PHLX LLC, The NASDAQ Stock Market LLC (``Nasdaq''), New York 
Stock Exchange LLC (``NYSE''), NYSE Arca, Inc., NYSE National Inc., and 
NYSE American LLC (collectively, the ``Participants'') filed with the 
Securities and Exchange Commission (``Commission'') pursuant to Section 
11A(a)(3) of the Securities Exchange Act of 1934 (``Exchange Act'') \2\ 
and Rule 608 thereunder,\3\ a proposal to amend the Plan (``Seventeenth 
Amendment'').\4\ The proposal reflects changes unanimously approved by 
the Participants. The Seventeenth Amendment proposes to extend the 
pilot period of the Plan for one year, as discussed below. A copy of 
the Plan, as proposed to be amended is attached as Exhibit A hereto. 
The Commission is publishing this notice to solicit comments from 
interested persons on the Seventeenth Amendment.\5\
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    \1\ On May 31, 2012, the Commission approved the Plan, as 
modified by Amendment No. 1. See Securities Exchange Act Release No. 
67091, 77 FR 33498 (June 6, 2012) (File No. 4- 631) (``Approval 
Order''). On February 20, 2013, the Commission noticed for immediate 
effectiveness the Second Amendment to the Plan. See Securities 
Exchange Act Release No. 68953, 78 FR 13113 (February 26, 2013). On 
April 3, 2013, the Commission approved the Third Amendment to the 
Plan. See Securities Exchange Act Release No. 69287, 78 FR 21483 
(April 10, 2013). On August 27, 2013, the Commission noticed for 
immediate effectiveness the Fourth Amendment to the Plan. See 
Securities Exchange Act Release No. 70273, 78 FR 54321 (September 3, 
2013). On September 26, 2013, the Commission approved the Fifth 
Amendment to the Plan. See Securities Exchange Act Release No. 
70530, 78 FR 60937 (October 2, 2013). On January 7, 2014, the 
Commission noticed for immediate effectiveness the Sixth Amendment 
to the Plan. See Securities Exchange Act Release No. 71247, 79 FR 
2204 (January 13, 2014). On April 3, 2014, the Commission approved 
the Seventh Amendment to the Plan. See Securities Exchange Act 
Release No. 71851, 79 FR 19687 (April 9, 2014). On February 19, 
2015, the Commission approved the Eight Amendment to the Plan. See 
Securities Exchange Act Release No. 74323, 80 FR 10169 (February 25, 
2015). On October 22, 2015, the Commission approved the Ninth 
Amendment to the Plan. See Securities Exchange Act Release No. 
76244, 80 FR 66099 (October 28, 2015). On April 21, 2016, the 
Commission approved the Tenth Amendment to the Plan. See Securities 
Exchange Act Release No. 77679, 81 FR 24908 (April 27, 2016). On 
August 26, 2016, the Commission noticed for immediate effectiveness 
the Eleventh Amendment to the Plan. See Securities Exchange Act 
Release No. 78703, 81 FR 60397 (September 1, 2016). On January 19, 
2017, the Commission approved the Twelfth Amendment to the Plan. See 
Securities Exchange Act Release No. 79845, 82 FR 8551 (January 26, 
2017). On April 13, 2017, the Commission approved the Thirteenth 
Amendment to the Plan. See Securities Exchange Act Release No. 
80455, 82 FR 18519 (April 19, 2017). On April 28, 2017, the 
Commission noticed for immediate effectiveness the Fourteenth 
Amendment to the Plan. See Securities Exchange Act Release No. 
80549, 82 FR 20928 (May 4, 2017). On September 26, 2017, the 
Commission noticed for immediate effectiveness the Fifteenth 
Amendment to Plan. See Securities Exchange Act Release No. 81720, 82 
FR 45922 (October 2, 2017) (``Fifteenth Amendment''). On February 
14, 2018, the Commission received the Sixteenth Amendment to the 
Plan, which was effective on filing but notice of which has not yet 
been published.
    \2\ 15 U.S.C. 78k-1(a)(3).
    \3\ 17 CFR 242.608.
    \4\ See Letter from Elizabeth King, General Counsel and 
Corporate Secretary, NYSE, to Brent Fields, Secretary, Commission, 
dated February 23, 2018. (``Transmittal Letter'').
    \5\ 17 CFR 242.608.
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II. Description of the Plan

    Set forth in this Section II is the statement of the purpose and 
summary of the Seventeenth Amendment, along with the information 
required by Rule 608(a)(4) and (5) under the Exchange Act,\6\ prepared 
and submitted by the Participants to the Commission.\7\
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    \6\ See 17 CFR 242.608(a)(4) and (a)(5).
    \7\ See Transmittal Letter, supra note 4.
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A. Statement of Purpose and Summary of the Plan Amendment

    The Participants filed the Plan on April 5, 2011, to create a 
market-wide limit up-limit down mechanism intended to address 
extraordinary market volatility in NMS Stocks, as defined in Rule 
600(b)(47) of Regulation NMS under the Exchange Act. The Plan sets 
forth procedures that provide for market-wide limit up-limit down 
requirements that would prevent trades in individual NMS Stocks from 
occurring outside of the specified price bands. These limit up-limit 
down requirements are coupled with Trading Pauses,\8\ as defined in 
Section I(Y) of the Plan, to accommodate more fundamental price moves. 
In particular, the Participants adopted this Plan to address the type 
of sudden price movements that the market experienced on the afternoon 
of May 6, 2010.
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    \8\ Unless otherwise specified, the terms used herein have the 
same meaning as set forth in the Plan.
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    As set forth in more detail in the Plan, all trading centers in NMS 
Stocks, including both those operated by Participants and those 
operated by members of Participants, shall establish, maintain, and 
enforce written policies and procedures that are reasonably designed to 
comply with the limit up-limit down requirements specified in the Plan. 
More specifically, the single plan processor responsible for 
consolidation of information for an NMS Stock pursuant to Rule 603(b) 
of Regulation NMS under the Exchange Act will be responsible for 
calculating and disseminating a lower price band and upper price band, 
as provided for in Section V of the Plan. Section VI of the Plan sets 
forth the limit up-limit down requirements of the Plan, and in 
particular, that all trading centers in NMS Stocks, including both 
those operated by Participants and those operated by members of 
Participants, shall establish, maintain, and enforce written policies 
and procedures that are reasonably designed to prevent trades at prices 
that are below the lower price band or above the upper price band for 
an NMS Stock, consistent with the Plan.
    The Plan was initially approved for a one-year pilot period, which 
began on April 8, 2013.\9\ Accordingly, the pilot period was scheduled 
to end on April 8, 2014. As initially contemplated, the Plan would have 
been fully implemented across all NMS Stocks within six months of 
initial Plan operations, which meant there would have been full 
implementation of the Plan for six months before the end of the pilot 
period. However, pursuant to the fourth amendment to the Plan,\10\ the 
Participants modified the implementation schedule of Phase II of the 
Plan to extend the time period as to when the Plan would fully apply to 
all NMS Stocks. Accordingly, the Plan was not implemented across all 
NMS Stocks until December 8, 2013. Pursuant to the sixth amendment to 
the Plan,\11\ which further modified the implementation schedule of 
Phase II of the Plan, the date

[[Page 12433]]

for full implementation of the Plan was moved to February 24, 2014. 
Pursuant to the seventh, ninth, tenth, and thirteenth amendments to the 
Plan,\12\ the pilot period was extended from April 8, 2014 to February 
20, 2015, from February 20, 2015 to April 22, 2016, from April 22, 2016 
to April 17, 2017, and from April 17, 2017 to April 16, 2018.
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    \9\ See Section VIII of the Plan.
    \10\ See supra note 1.
    \11\ See supra note 1.
    \12\ See supra note 1.
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    The Participants propose to amend Section VIII(C) of the Plan to 
extend the pilot period through April 15, 2019, to allow the 
Participants time to assess the changes to the Plan as described in the 
twelfth and thirteenth amendments to the Plan,\13\ which were 
implemented on November 20, 2017. In the twelfth amendment, the 
Participants amended the Plan to provide that a Trading Pause will 
continue until the Primary Listing Exchange has reopened trading using 
its established reopening procedures and reports a Reopening Price. The 
Plan was further amended to eliminate the current allowance for a 
trading center to resume trading in an NMS Stock following a Trading 
Pause if the Primary Listing Exchange has not reported a Reopening 
Price within ten minutes after the declaration of a Trading Pause and 
has not declared a Regulatory Halt. In addition, to preclude potential 
scenarios when trading may resume without Price Bands, the Plan was 
amended to provide that a trading center may not resume trading in an 
NMS Stock following a Trading Pause without Price Bands in such NMS 
Stock. To address potential scenarios in which there is no Reopening 
Price from the Primary Listing Exchange to use to calculate Price 
Bands, the Plan was amended to address when trading may resume if the 
Primary Listing Exchange is unable to reopen due to a systems or 
technology issue and how the Reference Price would be determined in 
such a scenario or if the Primary Listing Exchange reopens trading on a 
zero bid or zero offer, or both. The thirteenth amendment to the Plan 
further provided authority for the Processors to publish the following 
information provided by a primary listing exchange in connection with 
the reopening of trading following a Trading Pause: auction reference 
price; auction collars; and number of extensions to the reopening 
auction.
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    \13\ See supra note 1.
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    In conjunction with amending the Plan, the Primary Listing 
Exchanges amended their rules for automated reopenings following a 
Trading Pause consistent with a standardized approach agreed to by 
Participants that would allow for extensions of a Trading Pause if 
equilibrium cannot be met for a Reopening Price within specified 
parameters.\14\ The Primary Listing Exchanges implemented the changes 
to their automated reopenings on November 20, 2017.
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    \14\ See Securities Exchange Act Release Nos. 79846 (January 19, 
2017), 82 FR 8548 (January 26, 2017) (SR-NYSEArca-2016-130) 
(Approval Order); 79884 (January 26, 2017), 82 FR 8968 (February 1, 
2017) (SR-BatsBZX-2016-61) (Approval Order); 79876 (January 25, 
2017), 82 FR 8888 (January 31, 2017) (SR-Nasdaq-2016-131) (Approval 
Order).
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    Because both the twelfth and thirteenth amendments to the Plan and 
the Primary Listing Exchange's amended reopening procedures were 
implemented on November 20, 2017, the Participants propose to extend 
the current Pilot an additional year to April 15, 2019. The 
Participants believe that this additional time will be beneficial in 
that it allows ``the public, the Participants, and the Commission to 
assess the operation of the Plan and whether the Plan should be 
modified prior to approval on a permanent basis.'' \15\ In particular, 
this additional time will allow the public, the Participants, and the 
Commission time to assess the operation of the twelfth and thirteenth 
amendments to the Plan.
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    \15\ See Approval Order, supra note 1, 77 FR 33498 at 33508.
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    The Participants further believe that extending the Pilot another 
year would provide additional time for the Participants, the 
Commission, and the public to consider other potential modifications to 
the Plan that are currently under consideration. These include 
consideration of changes to how NMS Stocks are tiered under the Plan, 
and the applicable percentage parameters associated with such tiers, 
consideration of the elimination of double-wide Price Bands at the open 
and close of trading, and consideration of recommendations made by the 
Equity Market Structure Advisory Committee with respect to Plan 
operations.\16\ The Participants believe that the Plan should continue 
to operate as a Pilot uninterrupted to provide time to consider whether 
to make any such further modifications to the Plan.
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    \16\ See U.S. Securities and Exchange Commission Equity Market 
Structure Advisory Committee, Recommendations for Rulemaking on 
Issues of Market Quality, dated November 29, 2016, available here: 
https://www.sec.gov/spotlight/emsac/emsac-recommendations-rulemaking-market-quality.pdf.
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B. Governing or Constituent Documents

    The governing documents of the Processor, as defined in Section 
I(P) of the Plan, will not be affected by the Plan, but once the Plan 
is implemented, the Processor's obligations will change, as set forth 
in detail in the Plan.

C. Implementation of Plan

    The initial date of the Plan operations was April 8, 2013.

D. Development and Implementation Phases

    The Plan was initially implemented as a one-year pilot program in 
two Phases, consistent with Section VIII of the Plan: Phase I of Plan 
implementation began on April 8, 2013 and was completed on May 3, 2013. 
Implementation of Phase II of the Plan began on August 5, 2013 and was 
completed on February 24, 2014. The tenth amendment to the Plan was 
implemented on July 18, 2016 and the twelfth and thirteenth amendments 
to the Plan were implemented on November 20, 2017.\17\ Pursuant to this 
proposed amendment, the Participants propose to extend the pilot period 
until April 15, 2019.
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    \17\ See Fifteenth Amendment, supra note 1.
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E. Analysis of Impact on Competition

    The proposed Plan does not impose any burden on competition that is 
not necessary or appropriate in furtherance of the purposes of the 
Exchange Act. The Participants do not believe that the proposed Plan 
introduces terms that are unreasonably discriminatory for the purposes 
of Section 11A(c)(1)(D) of the Exchange Act.

F. Written Understanding or Agreements Relating to Interpretation of, 
or Participation in, Plan

    The Participants have no written understandings or agreements 
relating to interpretation of the Plan. Section II(C) of the Plan sets 
forth how any entity registered as a national securities exchange or 
national securities association may become a Participant.

G. Approval of Amendment of the Plan

    Each of the Plan's Participants has executed a written amended 
Plan.

H. Terms and Conditions of Access

    Section II(C) of the Plan provides that any entity registered as a 
national securities exchange or national securities association under 
the Exchange Act may become a Participant by: (1) Becoming a 
participant in the applicable Market Data Plans, as defined in Section 
I(F) of the Plan; (2) executing a copy of the Plan, as then in effect; 
(3) providing each then-current Participant with a copy of such 
executed Plan; and (4) effecting an amendment to the Plan as specified 
in Section III(B) of the Plan.

[[Page 12434]]

I. Method of Determination and Imposition, and Amount of, Fees and 
Charges

    Not applicable.

J. Method and Frequency of Processor Evaluation

    Not applicable.

K. Dispute Resolution

    Section III(C) of the Plan provides that each Participant shall 
designate an individual to represent the Participant as a member of an 
Operating Committee. No later than the initial date of the Plan, the 
Operating Committee shall designate one member of the Operating 
Committee to act as the Chair of the Operating Committee. Any 
recommendation for an amendment to the Plan from the Operating 
Committee that receives an affirmative vote of at least two-thirds of 
the Participants, but is less than unanimous, shall be submitted to the 
Commission as a request for an amendment to the Plan initiated by the 
Commission under Rule 608.
    On February 22, 2018, the Operating Committee, duly constituted and 
chaired by Mr. Robert Books of Cboe, voted unanimously to amend the 
Plan as set forth herein in accordance with Section III(C) of the Plan. 
The Plan Advisory Committee was notified in connection with the 
Seventeenth Amendment and was in favor.

III. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing, including whether the amendment is 
consistent with the Exchange Act and the rules thereunder. 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 [email protected]. Please include 
File Number 4-631 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields, 
Secretary, Securities and Exchange Commission, 100 F Street NE, 
Washington, DC 20549-1090.

All submissions should refer to File Number 4-631.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 plan amendment that are filed 
with the Commission, and all written communications relating to the 
amendment 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 such filing also will be available for inspection 
and copying at the Participants' offices. 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 4-631 
and should be submitted on or before April 11, 2018.

    By the Commission.
Brent J. Fields,
Secretary.

Exhibit A

    Proposed new language is italicized; proposed deletions are in 
[brackets].

Plan To Address Extraordinary Market Volatility Submitted to the 
Securities and Exchange Commission Pursuant to Rule 608 of Regulation 
NMS Under the Securities Exchange Act of 1934

Table of Contents

 
                             Section                               Page
 
Preamble........................................................       1
I. Definitions..................................................       2
II. Parties.....................................................       4
III. Amendments to Plan.........................................       7
IV. Trading Center Policies and Procedures......................       8
V. Price Bands..................................................       8
VI. Limit Up-Limit Down Requirements............................      11
VII. Trading Pauses.............................................      13
VIII. Implementation............................................      15
IX. Withdrawal from Plan........................................      15
X. Counterparts and Signatures..................................      15
Appendix A--Percentage Parameters...............................      17
Appendix A--Schedule 1..........................................      19
Appendix B--Data................................................      35
 

Preamble

    The Participants submit to the SEC this Plan establishing 
procedures to address extraordinary volatility in NMS Stocks. The 
procedures provide for market-wide limit up-limit down requirements 
that prevent trades in individual NMS Stocks from occurring outside 
of the specified Price Bands. These limit up-limit down requirements 
are coupled with Trading Pauses to accommodate more fundamental 
price moves. The Plan procedures are designed, among other things, 
to protect investors and promote fair and orderly markets. The 
Participants developed this Plan pursuant to Rule 608(a)(3) of 
Regulation NMS under the Exchange Act, which authorizes the 
Participants to act jointly in preparing, filing, and implementing 
national market system plans.

I. Definitions

    (A) ``Eligible Reported Transactions'' shall have the meaning 
prescribed by the Operating Committee and shall generally mean 
transactions that are eligible to update the last sale price of an 
NMS Stock.
    (B) ``Exchange Act'' means the Securities Exchange Act of 1934, 
as amended.
    (C) ``Limit State'' shall have the meaning provided in Section 
VI of the Plan.
    (D) ``Limit State Quotation'' shall have the meaning provided in 
Section VI of the Plan.
    (E) ``Lower Price Band'' shall have the meaning provided in 
Section V of the Plan.
    (F) ``Market Data Plans'' shall mean the effective national 
market system plans through which the Participants act jointly to 
disseminate consolidated information in compliance with Rule 603(b) 
of Regulation NMS under the Exchange Act.
    (G) ``National Best Bid'' and ``National Best Offer'' shall have 
the meaning provided in Rule 600(b)(42) of Regulation NMS under the 
Exchange Act.
    (H) ``NMS Stock'' shall have the meaning provided in Rule 
600(b)(47) of Regulation NMS under the Exchange Act.
    (I) ``Opening Price'' shall mean the price of a transaction that 
opens trading on the Primary Listing Exchange. If the Primary 
Listing Exchange opens with quotations, the ``Opening Price'' shall 
mean the closing price of the NMS Stock on the Primary Listing 
Exchange on the previous trading day, or if no such closing price 
exists, the last sale on the Primary Listing Exchange.
    (J) ``Operating Committee'' shall have the meaning provided in 
Section III(C) of the Plan.
    (K) ``Participant'' means a party to the Plan.
    (L) ``Plan'' means the plan set forth in this instrument, as 
amended from time to time in accordance with its provisions.
    (M) ``Percentage Parameter'' shall mean the percentages for each 
tier of NMS Stocks set forth in Appendix A of the Plan.
    (N) ``Price Bands'' shall have the meaning provided in Section V 
of the Plan.
    (O) ``Primary Listing Exchange'' shall mean the Participant on 
which an NMS Stock is listed. If an NMS Stock is listed on more than 
one Participant, the Participant on which the NMS Stock has been 
listed the longest shall be the Primary Listing Exchange.
    (P) ``Processor'' shall mean the single plan processor 
responsible for the consolidation of information for an NMS Stock 
pursuant to Rule 603(b) of Regulation NMS under the Exchange Act.
    (Q) ``Pro-Forma Reference Price'' shall have the meaning 
provided in Section V(A)(2) of the Plan.
    (R) ``Reference Price'' shall have the meaning provided in 
Section V of the Plan.

[[Page 12435]]

    (S) ``Regular Trading Hours'' shall have the meaning provided in 
Rule 600(b)(64) of Regulation NMS under the Exchange Act. For 
purposes of the Plan, Regular Trading Hours can end earlier than 
4:00 p.m. ET in the case of an early scheduled close.
    (T) ``Regulatory Halt'' shall have the meaning specified in the 
Market Data Plans.
    (U) ``Reopening Price'' shall mean the price of a transaction 
that reopens trading on the Primary Listing Exchange following a 
Trading Pause or a Regulatory Halt, or, if the Primary Listing 
Exchange reopens with quotations, the midpoint of those quotations.
    (V) ``SEC'' shall mean the United States Securities and Exchange 
Commission.
    (W) ``Straddle State'' shall have the meaning provided in 
Section VII(A)(2) of the Plan.
    (X) ``Trading center'' shall have the meaning provided in Rule 
600(b)(78) of Regulation NMS under the Exchange Act.
    (Y) ``Trading Pause'' shall have the meaning provided in Section 
VII of the Plan.
    (Z) ``Upper Price Band'' shall have the meaning provided in 
Section V of the Plan.

II. Parties

(A) List of Parties

    The parties to the Plan are as follows:
(1) Cboe BZX Exchange, Inc., 400 South LaSalle Street, Chicago, 
Illinois 60605
(2) Cboe BYX Exchange, Inc., 400 South LaSalle Street, Chicago, 
Illinois 60605
(3) Cboe EDGA Exchange, Inc., 400 South LaSalle Street, Chicago, 
Illinois 60605
(4) Cboe EDGX Exchange, Inc., 400 South LaSalle Street, Chicago, 
Illinois 60605
(5) Chicago Stock Exchange, Inc., 440 South LaSalle Street, Chicago, 
Illinois 60605
(6) Financial Industry Regulatory Authority, Inc., 1735 K Street NW, 
Washington, DC 20006
(7) Investors Exchange LLC, 4 World Trade Center, 44th Floor, New 
York, New York 10007
(8) NASDAQ BX, Inc., One Liberty Plaza, New York, New York 10006
(9) NASDAQ PHLX LLC, 1900 Market Street, Philadelphia, Pennsylvania 
19103
(10) The Nasdaq Stock Market LLC, 1 Liberty Plaza, 165 Broadway, New 
York, NY 10006
(11) NYSE National, Inc., 11 Wall Street, New York, NY 10005
(12) New York Stock Exchange LLC, 11 Wall Street, New York, New York 
10005
(13) NYSE American LLC, 11 Wall Street, New York, New York 10005
(14) NYSE Arca, Inc., 11 Wall Street, New York, New York 10005

(B) Compliance Undertaking

    By subscribing to and submitting the Plan for approval by the 
SEC, each Participant agrees to comply with and to enforce 
compliance, as required by Rule 608(c) of Regulation NMS under the 
Exchange Act, by its members with the provisions of the Plan. To 
this end, each Participant shall adopt a rule requiring compliance 
by its members with the provisions of the Plan, and each Participant 
shall take such actions as are necessary and appropriate as a 
participant of the Market Data Plans to cause and enable the 
Processor for each NMS Stock to fulfill the functions set forth in 
this Plan.

(C) New Participants

    The Participants agree that any entity registered as a national 
securities exchange or national securities association under the 
Exchange Act may become a Participant by: (1) Becoming a participant 
in the applicable Market Data Plans; (2) executing a copy of the 
Plan, as then in effect; (3) providing each then-current Participant 
with a copy of such executed Plan; and (4) effecting an amendment to 
the Plan as specified in Section III(B) of the Plan.

(D) Advisory Committee

    (1) Formation. Notwithstanding other provisions of this Plan, an 
Advisory Committee to the Plan shall be formed and shall function in 
accordance with the provisions set forth in this section.
    (2) Composition. Members of the Advisory Committee shall be 
selected for two-year terms as follows:
    (A) Advisory Committee Selections. By affirmative vote of a 
majority of the Participants, the Participants shall select at least 
one representatives from each of the following categories to be 
members of the Advisory Committee: (1) A broker-dealer with a 
substantial retail investor customer base; (2) a broker-dealer with 
a substantial institutional investor customer base; (3) an 
alternative trading system; (4) a broker-dealer that primarily 
engages in trading for its own account; and (5) an investor.
    (3) Function. Members of the Advisory Committee shall have the 
right to submit their views to the Operating Committee on Plan 
matters, prior to a decision by the Operating Committee on such 
matters. Such matters shall include, but not be limited to, proposed 
material amendments to the Plan.
    (4) Meetings and Information. Members of the Advisory Committee 
shall have the right to attend meetings of the Operating Committee 
and to receive any information concerning Plan matters; provided, 
however, that the Operating Committee may meet in executive session 
if, by affirmative vote of a majority of the Participants, the 
Operating Committee determines that an item of Plan business 
requires confidential treatment.

III. Amendments to Plan

(A) General Amendments

    Except with respect to the addition of new Participants to the 
Plan, any proposed change in, addition to, or deletion from the Plan 
shall be effected by means of a written amendment to the Plan that: 
(1) Sets forth the change, addition, or deletion; (2) is executed on 
behalf of each Participant; and, (3) is approved by the SEC pursuant 
to Rule 608 of Regulation NMS under the Exchange Act, or otherwise 
becomes effective under Rule 608 of Regulation NMS under the 
Exchange Act.

(B) New Participants

    With respect to new Participants, an amendment to the Plan may 
be effected by the new national securities exchange or national 
securities association executing a copy of the Plan, as then in 
effect (with the only changes being the addition of the new 
Participant's name in Section II(A) of the Plan) and submitting such 
executed Plan to the SEC for approval. The amendment shall be 
effective when it is approved by the SEC in accordance with Rule 608 
of Regulation NMS under the Exchange Act or otherwise becomes 
effective pursuant to Rule 608 of Regulation NMS under the Exchange 
Act.

(C) Operating Committee

    (1) Each Participant shall select from its staff one individual 
to represent the Participant as a member of an Operating Committee, 
together with a substitute for such individual. The substitute may 
participate in deliberations of the Operating Committee and shall be 
considered a voting member thereof only in the absence of the 
primary representative. Each Participant shall have one vote on all 
matters considered by the Operating Committee. No later than the 
initial date of Plan operations, the Operating Committee shall 
designate one member of the Operating Committee to act as the Chair 
of the Operating Committee.
    (2) The Operating Committee shall monitor the procedures 
established pursuant to this Plan and advise the Participants with 
respect to any deficiencies, problems, or recommendations as the 
Operating Committee may deem appropriate. The Operating Committee 
shall establish specifications and procedures for the implementation 
and operation of the Plan that are consistent with the provisions of 
this Plan and the Appendixes thereto. With respect to matters in 
this paragraph, Operating Committee decisions shall be approved by a 
simple majority vote.
    (3) Any recommendation for an amendment to the Plan from the 
Operating Committee that receives an affirmative vote of at least 
two-thirds of the Participants, but is less than unanimous, shall be 
submitted to the SEC as a request for an amendment to the Plan 
initiated by the Commission under Rule 608 of Regulation NMS.

IV. Trading Center Policies and Procedures

    All trading centers in NMS Stocks, including both those operated 
by Participants and those operated by members of Participants, shall 
establish, maintain, and enforce written policies and procedures 
that are reasonably designed to comply with the limit up-limit down 
requirements specified in Sections VI of the Plan, and to comply 
with the Trading Pauses specified in Section VII of the Plan.

V. Price Bands

(A) Calculation and Dissemination of Price Bands

    (1) The Processor for each NMS stock shall calculate and 
disseminate to the public a Lower Price Band and an Upper Price Band 
during Regular Trading Hours for such NMS Stock. The Price Bands 
shall be based on a Reference Price for each NMS Stock that equals 
the arithmetic mean price of Eligible Reported Transactions for the 
NMS stock over the immediately preceding five-minute period (except 
for periods following openings and reopenings, which are addressed 
below). If no Eligible Reported Transactions for the

[[Page 12436]]

NMS Stock have occurred over the immediately preceding five-minute 
period, the previous Reference Price shall remain in effect. The 
Price Bands for an NMS Stock shall be calculated by applying the 
Percentage Parameter for such NMS Stock to the Reference Price, with 
the Lower Price Band being a Percentage Parameter below the 
Reference Price, and the Upper Price Band being a Percentage 
Parameter above the Reference Price. The Price Bands shall be 
calculated during Regular Trading Hours. Between 9:30 a.m. and 9:45 
a.m. ET, and 3:35 p.m. and 4:00 p.m. ET, or in the case of an early 
scheduled close, during the last 25 minutes of trading before the 
early scheduled close, the Price Bands shall be calculated by 
applying double the Percentage Parameters set forth in Appendix A. 
If the Processor has not yet disseminated Price Bands, but a 
Reference Price is available, a trading center may calculate and 
apply Price Bands based on the same Reference Price that the 
Processor would use for calculating such Price Bands until such 
trading center receives Price Bands from the Processor. If, under 
Section VII(B)(2), the Primary Listing Exchange notifies the 
Processor that it is unable to reopen an NMS Stock due to a systems 
or technology issue and it has not declared a Regulatory Halt, the 
Processor will calculate and disseminate Price Bands by applying 
triple the Percentage Parameters set forth in Appendix A for the 
first 30 seconds such Price Bands are disseminated.
    (2) The Processor shall calculate a Pro-Forma Reference Price on 
a continuous basis during Regular Trading Hours, as specified in 
Section V(A)(1) of the Plan. If a Pro-Forma Reference Price has not 
moved by 1% or more from the Reference Price currently in effect, no 
new Price Bands shall be disseminated, and the current Reference 
Price shall remain the effective Reference Price. When the Pro-Forma 
Reference Price has moved by 1% or more from the Reference Price 
currently in effect, the Pro-Forma Reference Price shall become the 
Reference Price, and the Processor shall disseminate new Price Bands 
based on the new Reference Price; provided, however, that each new 
Reference Price shall remain in effect for at least 30 seconds.

(B) Openings

    (1) Except when a Regulatory Halt is in effect at the start of 
Regular Trading Hours, the first Reference Price for a trading day 
shall be the Opening Price on the Primary Listing Exchange in an NMS 
Stock if such Opening Price occurs less than five minutes after the 
start of Regular Trading Hours. During the period less than five 
minutes after the Opening Price, a Pro-Forma Reference Price shall 
be updated on a continuous basis to be the arithmetic mean price of 
Eligible Reported Transactions for the NMS Stock during the period 
following the Opening Price (including the Opening Price), and if it 
differs from the current Reference Price by 1% or more shall become 
the new Reference Price, except that a new Reference Price shall 
remain in effect for at least 30 seconds. Subsequent Reference 
Prices shall be calculated as specified in Section V(A) of the Plan.
    (2) If the Opening Price on the Primary Listing Exchange in an 
NMS Stock does not occur within five minutes after the start of 
Regular Trading Hours, the first Reference Price for a trading day 
shall be the arithmetic mean price of Eligible Reported Transactions 
for the NMS Stock over the preceding five minute time period, and 
subsequent Reference Prices shall be calculated as specified in 
Section V(A) of the Plan.

(C) Reopenings

    (1) Following a Trading Pause in an NMS Stock, and if the 
Primary Listing Exchange has not declared a Regulatory Halt, if the 
Primary Listing Exchange reopens trading with a transaction or 
quotation that does not include a zero bid or zero offer, the next 
Reference Price shall be the Reopening Price on the Primary Listing 
Exchange. Subsequent Reference Prices shall be determined in the 
manner prescribed for normal openings, as specified in Section 
V(B)(1) of the Plan. If the Primary Listing Exchange notifies the 
Processor that it is unable to reopen an NMS Stock due to a systems 
or technology issue, or if the Primary Listing Exchange reopens 
trading with a quotation that has a zero bid or zero offer, or both, 
the next Reference Price shall be the last effective Price Band that 
was in a Limit State before the Trading Pause. Subsequent Reference 
Prices shall be calculated as specified in Section V(A) of the Plan.
    (2) Following a Regulatory Halt, the next Reference Price shall 
be the Opening or Reopening Price on the Primary Listing Exchange if 
such Opening or Reopening Price occurs within five minutes after the 
end of the Regulatory Halt, and subsequent Reference Prices shall be 
determined in the manner prescribed for normal openings, as 
specified in Section V(B)(1) of the Plan. If such Opening or 
Reopening Price has not occurred within five minutes after the end 
of the Regulatory Halt, the Reference Price shall be equal to the 
arithmetic mean price of Eligible Reported Transactions for the NMS 
Stock over the preceding five minute time period, and subsequent 
Reference Prices shall be calculated as specified in Section V(A) of 
the Plan.

VI. Limit Up-Limit Down Requirements

(A) Limitations on Trades and Quotations Outside of Price Bands

    (1) All trading centers in NMS Stocks, including both those 
operated by Participants and those operated by members of 
Participants, shall establish, maintain, and enforce written 
policies and procedures that are reasonably designed to prevent 
trades at prices that are below the Lower Price Band or above the 
Upper Price Band for an NMS Stock. Single-priced opening, reopening, 
and closing transactions on the Primary Listing Exchange, however, 
shall be excluded from this limitation. In addition, any transaction 
that both (i) does not update the last sale price (except if solely 
because the transaction was reported late or because the transaction 
was an odd-lot sized transaction), and (ii) is excepted or exempt 
from Rule 611 under Regulation NMS shall be excluded from this 
limitation.
    (2) When a National Best Bid is below the Lower Price Band or a 
National Best Offer is above the Upper Price Band for an NMS Stock, 
the Processor shall disseminate such National Best Bid or National 
Best Offer with an appropriate flag identifying it as non-
executable. When a National Best Offer is equal to the Lower Price 
Band or a National Best Bid is equal to the Upper Price Band for an 
NMS Stock, the Processor shall distribute such National Best Bid or 
National Best Offer with an appropriate flag identifying it as a 
``Limit State Quotation''.
    (3) All trading centers in NMS Stocks, including both those 
operated by Participants and those operated by members of 
Participants, shall establish, maintain, and enforce written 
policies and procedures that are reasonably designed to prevent the 
display of offers below the Lower Price Band and bids above the 
Upper Price Band for an NMS Stock. The Processor shall disseminate 
an offer below the Lower Price Band or bid above the Upper Price 
Band that may be submitted despite such reasonable policies and 
procedures, but with an appropriate flag identifying it as non-
executable; provided, however, that any such bid or offer shall not 
be included in National Best Bid or National Best Offer 
calculations.

(B) Entering and Exiting a Limit State

    (1) All trading for an NMS Stock shall immediately enter a Limit 
State if the National Best Offer equals the Lower Price Band and 
does not cross the National Best Bid, or the National Best Bid 
equals the Upper Price Band and does not cross the National Best 
Offer.
    (2) When trading for an NMS Stock enters a Limit State, the 
Processor shall disseminate this information by identifying the 
relevant quotation (i.e., a National Best Offer that equals the 
Lower Price Band or a National Best Bid that equals the Upper Price 
Band) as a Limit State Quotation. At this point, the Processor shall 
cease calculating and disseminating updated Reference Prices and 
Price Bands for the NMS Stock until either trading exits the Limit 
State or trading resumes with an opening or re-opening as provided 
in Section V.
    (3) Trading for an NMS Stock shall exit a Limit State if, within 
15 seconds of entering the Limit State, the entire size of all Limit 
State Quotations are executed or cancelled.
    (4) If trading for an NMS Stock exits a Limit State within 15 
seconds of entry, the Processor shall immediately calculate and 
disseminate updated Price Bands based on a Reference Price that 
equals the arithmetic mean price of Eligible Reported Transactions 
for the NMS Stock over the immediately preceding five-minute period 
(including the period of the Limit State).
    (5) If trading for an NMS Stock does not exit a Limit State 
within 15 seconds of entry, the Limit State will terminate when the 
Primary Listing Exchange declares a Trading Pause pursuant to 
Section VII of the Plan or at the end of Regular Trading Hours.

VII. Trading Pauses

(A) Declaration of Trading Pauses

    (1) If trading for an NMS Stock does not exit a Limit State 
within 15 seconds of entry during Regular Trading Hours, then the 
Primary Listing Exchange shall declare a

[[Page 12437]]

Trading Pause for such NMS Stock and shall notify the Processor.
    (2) The Primary Listing Exchange may also declare a Trading 
Pause for an NMS Stock when an NMS Stock is in a Straddle State, 
which is when National Best Bid (Offer) is below (above) the Lower 
(Upper) Price Band and the NMS Stock is not in a Limit State, and 
trading in that NMS Stock deviates from normal trading 
characteristics such that declaring a Trading Pause would support 
the Plan's goal to address extraordinary market volatility. The 
Primary Listing Exchange shall develop policies and procedures for 
determining when it would declare a Trading Pause in such 
circumstances. If a Trading Pause is declared for an NMS Stock under 
this provision, the Primary Listing Exchange shall notify the 
Processor.
    (3) The Processor shall disseminate Trading Pause information to 
the public. No trades in an NMS Stock shall occur during a Trading 
Pause, but all bids and offers may be displayed.

(B) Reopening of Trading During Regular Trading Hours

    (1) Five minutes after declaring a Trading Pause for an NMS 
Stock, and if the Primary Listing Exchange has not declared a 
Regulatory Halt, the Primary Listing Exchange shall attempt to 
reopen trading using its established reopening procedures. The 
Processor will publish the following information that the Primary 
Listing Exchange provides to the Processor in connection with such 
reopening: Auction reference price; auction collars; and number of 
extensions to the reopening auction. The Trading Pause shall end 
when the Primary Listing Exchange reports a Reopening Price.
    (2) The Primary Listing Exchange shall notify the Processor if 
it is unable to reopen trading in an NMS Stock due to a systems or 
technology issue and if it has not declared a Regulatory Halt. The 
Processor shall disseminate this information to the public.
    (3) Trading centers may not resume trading in an NMS Stock 
following a Trading Pause without Price Bands in such NMS Stock.
    (4) The Processor shall update the Price Bands as set forth in 
Section V(C)(1)-(2) of the Plan after receiving notification from 
the Primary Listing Exchange of a Reopening Price following a 
Trading Pause (or a resume message in the case of a reopening quote 
that has a zero bid or zero offer, or both) or that it is unable to 
reopen trading following a Trading Pause due to a systems or 
technology issue, provided that if the Primary Listing Exchange is 
unable to reopen due to a systems or technology issue, the update to 
the Price Bands will be no earlier than ten minutes after the 
beginning of the Trading Pause.

(C) Trading Pauses Within Ten Minutes of the End of Regular Trading 
Hours

    (1) If an NMS Stock is in a Trading Pause during the last ten 
minutes of trading before the end of Regular Trading Hours, the 
Primary Listing Exchange shall not reopen trading and shall attempt 
to execute a closing transaction using its established closing 
procedures. All trading centers may begin trading the NMS Stock when 
the Primary Listing Exchange executes a closing transaction.
    (2) If the Primary Listing Exchange does not execute a closing 
transaction within five minutes after the end of Regular Trading 
Hours, all trading centers may begin trading the NMS Stock.

VIII. Implementation

    The initial date of Plan operations shall be April 8, 2013.
    The Plan shall be implemented on a pilot basis set to end on 
[April 16, 2018]April 15, 2019.

IX. Withdrawal From Plan

    If a Participant obtains SEC approval to withdraw from the Plan, 
such Participant may withdraw from the Plan at any time on not less 
than 30 days' prior written notice to each of the other 
Participants. At such time, the withdrawing Participant shall have 
no further rights or obligations under the Plan.

X. Counterparts and Signatures

    The Plan may be executed in any number of counterparts, no one 
of which need contain all signatures of all Participants, and as 
many of such counterparts as shall together contain all such 
signatures shall constitute one and the same instrument.
    In Witness Thereof, this Plan has been executed as of the ___day 
of February 2018 by each of the parties hereto.

Cboe BZX EXCHANGE, INC.

Cboe BYX EXCHANGE, INC.

BY:--------------------------------------------------------------------

BY:--------------------------------------------------------------------

Cboe EDGA EXCHANGE, INC.

Cboe EDGX EXCHANGE, INC.

BY:--------------------------------------------------------------------

BY:--------------------------------------------------------------------

CHICAGO STOCK EXCHANGE, INC.

FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC.

BY:--------------------------------------------------------------------

BY:--------------------------------------------------------------------

INVESTORS EXCHANGE LLC

NASDAQ BX, Inc.

BY:--------------------------------------------------------------------

BY:--------------------------------------------------------------------

NASDAQ PHLX LLC

THE NASDAQ STOCK MARKET LLC

BY:--------------------------------------------------------------------

BY:--------------------------------------------------------------------

NYSE NATIONAL, INC.

NEW YORK STOCK EXCHANGE LLC

BY:--------------------------------------------------------------------

BY:--------------------------------------------------------------------

NYSE American LLC

NYSE ARCA, INC.

BY:--------------------------------------------------------------------

BY:--------------------------------------------------------------------

Appendix A--Percentage Parameters

I. Tier 1 NMS Stocks

    (1) Tier 1 NMS Stocks shall include all NMS Stocks included in 
the S&P 500 Index, the Russell 1000 Index, and the exchange-traded 
products (``ETP'') identified as Schedule 1 to this Appendix. 
Schedule 1 to the Appendix will be reviewed and updated semi-
annually based on the fiscal year by the Primary Listing Exchange to 
add ETPs that meet the criteria, or delete ETPs that are no longer 
eligible. To determine eligibility for an ETP to be included as a 
Tier 1 NMS Stock, all ETPs across multiple asset classes and 
issuers, including domestic equity, international equity, fixed 
income, currency, and commodities and futures will be identified. 
Leveraged ETPs will be excluded and the list will be sorted by 
notional consolidated average daily volume (``CADV''). The period 
used to measure CADV will be from the first day of the previous 
fiscal half year up until one week before the beginning of the next 
fiscal half year. Daily volumes will be multiplied by closing prices 
and then averaged over the period. ETPs, including inverse ETPs, 
that trade over $2,000,000 CADV will be eligible to be included as a 
Tier 1 NMS Stock. The semi-annual updates to Schedule 1 do not 
require an amendment to the Plan. The Primary Listing Exchanges will 
maintain the updated Schedule 1 on their respective websites.
    (2) The Percentage Parameters for Tier 1 NMS Stocks with a 
Reference Price more than $3.00 shall be 5%.
    (3) The Percentage Parameters for Tier 1 NMS Stocks with a 
Reference Price equal to $0.75 and up to and including $3.00 shall 
be 20%.
    (4) The Percentage Parameters for Tier 1 NMS Stocks with a 
Reference Price less than $0.75 shall be the lesser of (a) $0.15 or 
(b) 75%.
    (5) The Reference Price used for determining which Percentage 
Parameter shall be applicable during a trading day shall be based on 
the closing price of the NMS Stock on the Primary Listing Exchange 
on the previous trading day, or if no closing price exists, the last 
sale on the Primary Listing Exchange reported by the Processor.

II. Tier 2 NMS Stocks

    (1) Tier 2 NMS Stocks shall include all NMS Stocks other than 
those in Tier 1, provided, however, that all rights and warrants are 
excluded from the Plan.
    (2) The Percentage Parameters for Tier 2 NMS Stocks with a 
Reference Price more than $3.00 shall be 10%.
    (3) The Percentage Parameters for Tier 2 NMS Stocks with a 
Reference Price equal to $0.75 and up to and including $3.00 shall 
be 20%.
    (4) The Percentage Parameters for Tier 2 NMS Stocks with a 
Reference Price less than $0.75 shall be the lesser of (a) $0.15 or 
(b) 75%.
    (5) Notwithstanding the foregoing, the Percentage Parameters for 
a Tier 2 NMS Stock that is a leveraged ETP shall be the applicable 
Percentage Parameter set forth in clauses (2), (3), or (4) above, 
multiplied by the leverage ratio of such product.
    (6) The Reference Price used for determining which Percentage 
Parameter shall be applicable during a trading day shall be based on 
the closing price of the NMS Stock on the Primary Listing Exchange 
on the previous trading day, or if no closing price

[[Page 12438]]

exists, the last sale on the Primary Listing Exchange reported by 
the Processor.

                         Appendix A--Schedule 1
                         [As of January 2, 2018]
------------------------------------------------------------------------
          Ticker                 ETP name               Exchange
------------------------------------------------------------------------
SPY......................  SPDR S&P             NYSE Arca.
                            500[supreg] ETF.
QQQ......................  Powershares QQQ      NASDAQ.
                            Trust Series 1.
IWM......................  iShares Russell      NYSE Arca.
                            2000 ETF.
EEM......................  iShares MSCI         NYSE Arca.
                            Emerging Markets
                            ETF.
XLF......................  Financial Select     NYSE Arca.
                            Sector SPDR Fund.
VXX......................  iPath S&P 500 VIX    NYSE Arca.
                            Short-Term Futures
                            ETN.
EFA......................  iShares MSCI EAFE    NYSE Arca.
                            ETF.
TLT......................  iShares 20+ Year     NASDAQ.
                            Treasury Bond ETF.
HYG......................  iShares iBoxx $      NYSE Arca.
                            High Yield
                            Corporate Bond ETF.
GDX......................  VanEck Vectors Gold  NYSE Arca.
                            Miners ETF.
XIV......................  VelocityShares       NASDAQ.
                            Daily Inverse VIX
                            Short Term ETN.
IVV......................  iShares Core S&P     NYSE Arca.
                            500 ETF.
GLD......................  SPDR Gold Trust....  NYSE Arca.
XLE......................  Energy Select        NYSE Arca.
                            Sector SPDR Fund.
LQD......................  iShares iBoxx $      NYSE Arca.
                            Investment Grade
                            Corporate Bond ETF.
EWZ......................  iShares MSCI Brazil  NYSE Arca.
                            Capped ETF.
XLU......................  Utilities Select     NYSE Arca.
                            Sector SPDR Fund.
XLI......................  Industrial Select    NYSE Arca.
                            Sector SPDR Fund.
DIA......................  SPDR Dow Jones       NYSE Arca.
                            Industrial Average
                            ETF Trust.
XLP......................  Consumer Staples     NYSE Arca.
                            Select Sector SPDR
                            Fund.
XLK......................  Technology Select    NYSE Arca.
                            Sector SPDR Fund.
SVXY.....................  ProShares Short VIX  NYSE Arca.
                            Short Term Futures.
FXI......................  iShares China Large- NYSE Arca.
                            Cap ETF.
XLV......................  Health Care Select   NYSE Arca.
                            Sector SPDR Fund.
IYR......................  iShares U.S. Real    NYSE Arca.
                            Estate ETF.
XOP......................  SPDR S&P Oil & Gas   NYSE Arca.
                            Exploration &
                            Production ETF.
VWO......................  Vanguard FTSE        NYSE Arca.
                            Emerging Markets
                            ETF.
VOO......................  Vanguard S&P 500     NYSE Arca.
                            ETF.
IEMG.....................  iShares Core MSCI    NYSE Arca.
                            Emerging Markets
                            ETF.
EWJ......................  iShares MSCI Japan   NYSE Arca.
                            ETF.
GDXJ.....................  VanEck Vectors       NYSE Arca.
                            Junior Gold Miners
                            ETF.
XLY......................  Consumer             NYSE Arca.
                            Discretionary
                            Select Sector SPDR
                            Fund.
SMH......................  VanEck Vectors       NYSE Arca.
                            Semiconductor ETF.
JNK......................  SPDR Bloomberg       NYSE Arca.
                            Barclays High
                            Yield Bond ETF.
KRE......................  SPDR S&P Regional    NYSE Arca.
                            Banking ETF.
MDY......................  SPDR S&P MidCap      NYSE Arca.
                            400[supreg] ETF.
XBI......................  SPDR S&P Biotech     NYSE Arca.
                            ETF.
VEA......................  Vanguard FTSE        NYSE Arca.
                            Developed Markets
                            ETF.
IBB......................  iShares Nasdaq       NASDAQ.
                            Biotechnology ETF.
VNQ......................  Vanguard REIT ETF..  NYSE Arca.
AGG......................  iShares Core U.S.    NYSE Arca.
                            Aggregate Bond ETF.
EZU......................  iShares MSCI         Cboe BZX.
                            Eurozone ETF.
VTI......................  Vanguard Total       NYSE Arca.
                            Stock Market ETF.
IEFA.....................  iShares Core MSCI    Cboe BZX.
                            EAFE ETF.
XLB......................  Materials Select     NYSE Arca.
                            Sector SPDR Fund.
EMB......................  iShares JP Morgan    NASDAQ.
                            USD Emerging
                            Markets Bond ETF.
IWD......................  iShares Russell      NYSE Arca.
                            1000 Value ETF.
USO......................  United States Oil    NYSE Arca.
                            Fund LP.
XRT......................  SPDR S&P Retail ETF  NYSE Arca.
IEF......................  iShares 7-10 Year    NASDAQ.
                            Treasury Bond ETF.
IJR......................  iShares Core S&P     NYSE Arca.
                            Small-Cap ETF.
IJH......................  iShares Core S&P     NYSE Arca.
                            Mid-Cap ETF.
IWF......................  iShares Russell      NYSE Arca.
                            1000 Growth ETF.
VGK......................  Vanguard FTSE        NYSE Arca.
                            Europe ETF.
EWY......................  iShares MSCI South   NYSE Arca.
                            Korea Capped ETF.
BND......................  Vanguard Total Bond  NYSE Arca.
                            Market ETF.
OIH......................  VanEck Vectors Oil   NYSE Arca.
                            Services ETF.
DXJ......................  WisdomTree Japan     NYSE Arca.
                            Hedged Equity Fund.
AMLP.....................  Alerian MLP ETF....  NYSE Arca.
EWW......................  iShares MSCI Mexico  NYSE Arca.
                            Capped ETF.
IWB......................  iShares Russell      NYSE Arca.
                            1000 ETF.
VTV......................  Vanguard Value ETF.  NYSE Arca.
RSX......................  VanEck Vectors       NYSE Arca.
                            Russia ETF.
SLV......................  iShares Silver       NYSE Arca.
                            Trust.
EWT......................  iShares MSCI Taiwan  NYSE Arca.
                            Capped ETF.
IAU......................  iShares Gold Trust.  NYSE Arca.
VCSH.....................  Vanguard Short-Term  NASDAQ.
                            Corporate Bond ETF.
TIP......................  iShares TIPS Bond    NYSE Arca.
                            ETF.

[[Page 12439]]

 
ACWI.....................  iShares MSCI ACWI    NASDAQ.
                            ETF.
IWO......................  iShares Russell      NYSE Arca.
                            2000 Growth ETF.
BSV......................  Vanguard Short-Term  NYSE Arca.
                            Bond ETF.
MCHI.....................  iShares MSCI China   NASDAQ.
                            ETF.
VCIT.....................  Vanguard             NASDAQ.
                            Intermediate-Term
                            Corporate Bond ETF.
IWN......................  iShares Russell      NYSE Arca.
                            2000 Value ETF.
EWG......................  iShares MSCI         NYSE Arca.
                            Germany ETF.
INDA.....................  iShares MSCI India   Cboe BZX.
                            ETF.
FEZ......................  SPDR EURO STOXX 50   NYSE Arca.
                            ETF.
KBE......................  SPDR S&P Bank ETF..  NYSE Arca.
IVW......................  iShares S&P 500      NYSE Arca.
                            Growth ETF.
VEU......................  Vanguard FTSE All-   NYSE Arca.
                            World ex-US ETF.
PFF......................  iShares US           NASDAQ.
                            Preferred Stock
                            ETF.
ITB......................  iShares U.S. Home    Cboe BZX.
                            Construction ETF.
AAXJ.....................  iShares MSCI All     NASDAQ.
                            Country Asia ex
                            Japan ETF.
EWH......................  iShares MSCI Hong    NYSE Arca.
                            Kong ETF.
HEDJ.....................  WisdomTree Europe    NYSE Arca.
                            Hedged Equity Fund.
SOXX.....................  iShares PHLX         NASDAQ.
                            Semiconductor ETF.
XME......................  SPDR S&P Metals &    NYSE Arca.
                            Mining ETF.
IVE......................  iShares S&P 500      NYSE Arca.
                            Value ETF.
SHV......................  iShares Short        NASDAQ.
                            Treasury Bond ETF.
SHY......................  iShares 1-3 Year     NASDAQ.
                            Treasury Bond ETF.
VB.......................  Vanguard Small-Cap   NYSE Arca.
                            ETF.
VUG......................  Vanguard Growth ETF  NYSE Arca.
BKLN.....................  PowerShares Senior   NYSE Arca.
                            Loan Portfolio.
AMJ......................  JPMorgan Alerian     NYSE Arca.
                            MLP Index ETN.
VGT......................  Vanguard             NYSE Arca.
                            Information
                            Technology ETF.
SH.......................  ProShares Short      NYSE Arca.
                            S&P500.
USMV.....................  iShares MSCI USA     Cboe BZX.
                            Minimum Volatility
                            ETF.
EWU......................  iShares MSCI United  NYSE Arca.
                            Kingdom ETF.
VYM......................  Vanguard High        NYSE Arca.
                            Dividend Yield
                            Index Fund.
XHB......................  SPDR S&P             NYSE Arca.
                            Homebuilders ETF.
IEI......................  iShares 3-7 Year     NASDAQ.
                            Treasury Bond ETF.
FXE......................  CurrencyShares Euro  NYSE Arca.
                            Trust.
EWC......................  iShares MSCI Canada  NYSE Arca.
                            ETF.
UNG......................  United States        NYSE Arca.
                            Natural Gas Fund
                            LP.
MBB......................  iShares MBS ETF....  NASDAQ.
XLRE.....................  Real Estate Select   NYSE Arca.
                            Sector SPDR Fund.
SPLV.....................  PowerShares S&P      NYSE Arca.
                            500[supreg] Low
                            Volatility
                            Portfolio.
MUB......................  iShares National     NYSE Arca.
                            Muni Bond ETF.
VT.......................  Vanguard Total       NYSE Arca.
                            World Stock Index
                            Fund.
MINT.....................  PIMCO Enhanced       NYSE Arca.
                            Short Maturity
                            Strategy Exchange-
                            Traded Fund.
DBEF.....................  Xtrackers MSCI EAFE  NYSE Arca.
                            Hedged Equity ETF.
VO.......................  Vanguard Mid-Cap     NYSE Arca.
                            ETF.
OEF......................  iShares S&P 100 ETF  NYSE Arca.
VIG......................  Vanguard Dividend    NYSE Arca.
                            Appreciation ETF.
EWP......................  iShares MSCI Spain   NYSE Arca.
                            Capped ETF.
FLOT.....................  iShares Floating     Cboe BZX.
                            Rate Bond ETF.
EPI......................  WisdomTree India     NYSE Arca.
                            Earnings Fund.
DVY......................  iShares Select       NASDAQ.
                            Dividend ETF.
CSJ......................  iShares 1-3 Year     NASDAQ.
                            Credit Bond ETF.
VIXY.....................  ProShares VIX Short- NYSE Arca.
                            Term Futures ETF.
CWB......................  SPDR Bloomberg       NYSE Arca.
                            Barclays
                            Convertible
                            Securities ETF.
BIV......................  Vanguard             NYSE Arca.
                            Intermediate-Term
                            Bond ETF.
SCHF.....................  Schwab               NYSE Arca.
                            International
                            Equity ETF.
ITA......................  iShares US           Cboe BZX.
                            Aerospace &
                            Defense ETF.
SCZ......................  iShares MSCI EAFE    NASDAQ.
                            Small-Cap ETF.
RSP......................  Guggenheim S&P 500   NYSE Arca.
                            Equal Weight ETF.
SJNK.....................  SPDR Bloomberg       NYSE Arca.
                            Barclays Short
                            Term High Yield
                            Bond ETF.
ITOT.....................  iShares Core S&P     NYSE Arca.
                            Total U.S. Stock
                            Market ETF.
BNDX.....................  Vanguard Total       NASDAQ.
                            International Bond
                            ETF.
EWA......................  iShares MSCI         NYSE Arca.
                            Australia ETF.
IYT......................  iShares              Cboe BZX.
                            Transportation
                            Average ETF.
ILF......................  iShares Latin        NYSE Arca.
                            America 40 ETF.
VFH......................  Vanguard Financials  NYSE Arca.
                            ETF.
PCY......................  PowerShares          NYSE Arca.
                            Emerging Markets
                            Sovereign Debt
                            Portfolio.
HYS......................  PIMCO 0-5 Year High  NYSE Arca.
                            Yield Corporate
                            Bond Index
                            Exchange-Traded
                            Fund.
FDN......................  First Trust Dow      NYSE Arca.
                            Jones Internet
                            Index Fund.
CIU......................  iShares              NASDAQ.
                            Intermediate
                            Credit Bond ETF.
MTUM.....................  iShares MSCI USA     Cboe BZX.
                            Momentum Factor
                            ETF.
VBR......................  Vanguard Small-Cap   NYSE Arca.
                            Value ETF.

[[Page 12440]]

 
VXUS.....................  Vanguard Total       NASDAQ.
                            International
                            Stock ETF.
SDY......................  SPDR S&P Dividend    NYSE Arca.
                            ETF.
IWR......................  iShares Russell Mid- NYSE Arca.
                            Cap ETF.
EMLC.....................  VanEck Vectors       NYSE Arca.
                            Emerging Markets
                            Local Currency
                            Bond ETF.
HEWJ.....................  iShares Currency     NYSE Arca.
                            Hedged MSCI Japan
                            ETF.
EFAV.....................  iShares MSCI EAFE    Cboe BZX.
                            Minimum Volatility
                            ETF.
EUFN.....................  iShares MSCI Europe  NASDAQ.
                            Financials ETF.
IWS......................  iShares Russell Mid- NYSE Arca.
                            Cap Value ETF.
SCHX.....................  Schwab U.S. Large-   NYSE Arca.
                            Cap ETF.
NEAR.....................  iShares Short        Cboe BZX.
                            Maturity Bond ETF.
IWP......................  iShares Russell Mid- NYSE Arca.
                            Cap Growth ETF.
KWEB.....................  KraneShares CSI      NYSE Arca.
                            China Internet ETF.
HEFA.....................  iShares Currency     Cboe BZX.
                            Hedged MSCI EAFE
                            ETF.
EWI......................  iShares MSCI Italy   NYSE Arca.
                            Capped ETF.
IWV......................  iShares Russell      NYSE Arca.
                            3000 ETF.
IYF......................  iShares U.S.         NYSE Arca.
                            Financials ETF.
EZA......................  iShares MSCI South   NYSE Arca.
                            Africa ETF.
VXF......................  Vanguard Extended    NYSE Arca.
                            Market Index Fund.
IYW......................  iShares U.S.         NYSE Arca.
                            Technology ETF.
VHT......................  Vanguard Health      NYSE Arca.
                            Care ETF.
BIL......................  SPDR Bloomberg       NYSE Arca.
                            Barclays 1-3 Month
                            T-Bill ETF.
UUP......................  PowerShares DB US    NYSE Arca.
                            Dollar Index
                            Bullish Fund.
IEUR.....................  iShares Core MSCI    NYSE Arca.
                            Europe ETF.
DBC......................  PowerShares DB       NYSE Arca.
                            Commodity Index
                            Tracking Fund.
EFV......................  iShares MSCI EAFE    Cboe BZX.
                            Value ETF.
HEZU.....................  iShares Currency     NYSE Arca.
                            Hedged MSCI
                            Eurozone ETF.
SCHB.....................  Schwab U.S. Broad    NYSE Arca.
                            Market ETF.
IEV......................  iShares Europe ETF.  NYSE Arca.
SCHD.....................  Schwab U.S.          NYSE Arca.
                            Dividend Equity
                            ETF.
VV.......................  Vanguard Large-Cap   NYSE Arca.
                            ETF.
PGX......................  PowerShares          NYSE Arca.
                            Preferred
                            Portfolio.
EWL......................  iShares MSCI         NYSE Arca.
                            Switzerland Capped
                            ETF.
VPL......................  Vanguard FTSE        NYSE Arca.
                            Pacific ETF.
IJK......................  iShares S&P Mid-Cap  NYSE Arca.
                            400 Growth ETF.
BOTZ.....................  Global X Robotics &  NASDAQ.
                            Artificial
                            Intelligence
                            Thematic ETF.
VMBS.....................  Vanguard Mortgage-   NASDAQ.
                            Backed Securities
                            ETF.
IXUS.....................  iShares Core MSCI    NASDAQ.
                            Total
                            International
                            Stock ETF.
VCLT.....................  Vanguard Long-Term   NASDAQ.
                            Corporate Bond ETF.
SCHE.....................  Schwab Emerging      NYSE Arca.
                            Markets Equity ETF.
LIT......................  Global X Lithium &   NYSE Arca.
                            Battery Tech ETF.
ASHR.....................  Xtrackers Harvest    NYSE Arca.
                            CSI 300 China A-
                            Shares ETF.
ACWX.....................  iShares MSCI ACWI    NASDAQ.
                            ex US ETF.
VOE......................  Vanguard Mid-Cap     NYSE Arca.
                            Value ETF.
VDE......................  Vanguard Energy ETF  NYSE Arca.
HDV......................  iShares Core High    NYSE Arca.
                            Dividend ETF.
IUSG.....................  iShares Core US      NASDAQ.
                            Growth ETF.
SCHA.....................  Schwab U.S. Small-   NYSE Arca.
                            Cap ETF.
PSQ......................  ProShares Short QQQ  NYSE Arca.
GOVT.....................  iShares Core US      Cboe BZX.
                            Treasury Bond ETF.
KBWB.....................  PowerShares KBW      NASDAQ.
                            Bank Portfolio.
EEMV.....................  iShares MSCI         Cboe BZX.
                            Emerging Markets
                            Minimum Volatility
                            ETF/Dup.
VTIP.....................  Vanguard Short-Term  NASDAQ.
                            Inflation-
                            Protected
                            Securities ETF.
RWX......................  SPDR Dow Jones       NYSE Arca.
                            International Real
                            Estate ETF.
ROBO.....................  ROBO Global          NASDAQ.
                            Robotics and
                            Automation Index
                            ETF.
DBJP.....................  Xtrackers MSCI       NYSE Arca.
                            Japan Hedged
                            Equity ETF.
VNQI.....................  Vanguard Global ex-  NASDAQ.
                            U.S. Real Estate
                            ETF.
SHYG.....................  iShares 0-5 Year     NYSE Arca.
                            High Yield
                            Corporate Bond ETF.
QUAL.....................  iShares MSCI USA     Cboe BZX.
                            Quality Factor ETF.
IGV......................  iShares North        Cboe BZX.
                            American Tech-
                            Software ETF.
EPP......................  iShares MSCI         NYSE Arca.
                            Pacific ex Japan
                            ETF.
EWQ......................  iShares MSCI France  NYSE Arca.
                            ETF.
VLUE.....................  iShares MSCI USA     Cboe BZX.
                            Value Factor ETF.
VSS......................  Vanguard FTSE All-   NYSE Arca.
                            World Ex-US Small-
                            Cap Index Fund.
ECH......................  iShares MSCI Chile   Cboe BZX.
                            Capped ETF.
SCHZ.....................  Schwab U.S.          NYSE Arca.
                            Aggregate Bond ETF.
IDV......................  iShares              Cboe BZX.
                            International
                            Select Dividend
                            ETF.
IJS......................  iShares S&P Small-   NYSE Arca.
                            Cap 600 Value ETF.
DBEU.....................  Xtrackers MSCI       NYSE Arca.
                            Europe Hedged
                            Equity ETF.
SPIB.....................  SPDR Bloomberg       NYSE Arca.
                            Barclays
                            Intermediate Term
                            Corporate Bond ETF.
IHI......................  iShares U.S.         NYSE Arca.
                            Medical Devices
                            ETF.
HYD......................  VanEck Vectors High  NYSE Arca.
                            Yield Municipal
                            Index ETF.

[[Page 12441]]

 
SCHO.....................  Schwab Short-Term    NYSE Arca.
                            U.S. Treasury ETF.
SCHH.....................  Schwab U.S. REIT     NYSE Arca.
                            ETF.
IUSV.....................  iShares Core US      NASDAQ.
                            Value ETF.
SCHG.....................  Schwab U.S. Large-   NYSE Arca.
                            Cap Growth ETF.
SHM......................  SPDR Nuveen          NYSE Arca.
                            Bloomberg Barclays
                            Short Term
                            Municipal Bond ETF.
FPE......................  First Trust          NYSE Arca.
                            Preferred
                            Securities and
                            Income ETF.
SPSB.....................  SPDR Bloomberg       NYSE Arca.
                            Barclays Short
                            Term Corporate
                            Bond ETF.
VBK......................  Vanguard Small-Cap   NYSE Arca.
                            Growth ETF.
ACWV.....................  iShares MSCI All     Cboe BZX.
                            Country World
                            Minimum Volatility
                            ETF.
TOTL.....................  SPDR DoubleLine      NYSE Arca.
                            Total Return
                            Tactical ETF.
VTEB.....................  Vanguard Tax-Exempt  NYSE Arca.
                            Bond Index Fund.
FXU......................  First Trust          NYSE Arca.
                            Utilities AlphaDEX
                            Fund.
IJT......................  iShares S&P Small-   NASDAQ.
                            Cap 600 Growth ETF.
IYM......................  iShares U.S. Basic   NYSE Arca.
                            Materials ETF.
MLPI.....................  ETRACS Alerian MLP   NYSE Arca.
                            Infrastructure ETN.
VPU......................  Vanguard Utilities   NYSE Arca.
                            Index Fund.
SRLN.....................  SPDR Blackstone/GSO  NYSE Arca.
                            Senior Loan ETF.
FXL......................  First Trust          NYSE Arca.
                            Technology
                            AlphaDEX Fund.
BLV......................  Vanguard Long-Term   NYSE Arca.
                            Bond ETF.
SPHD.....................  PowerShares S&P 500  NYSE Arca.
                            High Dividend Low
                            Volatility
                            Portfolio.
IYH......................  iShares U.S.         NYSE Arca.
                            Healthcare ETF.
TFI......................  SPDR Nuveen          NYSE Arca.
                            Bloomberg Barclays
                            Municipal Bond ETF.
ICF......................  iShares Cohen &      Cboe BZX.
                            Steers REIT ETF.
VDC......................  Vanguard Consumer    NYSE Arca.
                            Staples ETF.
EWM......................  iShares MSCI         NYSE Arca.
                            Malaysia ETF.
VOX......................  Vanguard             NYSE Arca.
                            Telecommunication
                            Services ETF.
IJJ......................  iShares S&P Mid-Cap  NYSE Arca.
                            400 Value ETF.
SCHP.....................  Schwab U.S. TIPS     NYSE Arca.
                            ETF.
DBA......................  PowerShares DB       NYSE Arca.
                            Agriculture Fund.
THD......................  iShares MSCI         NYSE Arca.
                            Thailand Capped
                            ETF.
VIS......................  Vanguard             NYSE Arca.
                            Industrials ETF.
EIDO.....................  iShares MSCI         NYSE Arca.
                            Indonesia ETF.
IYG......................  iShares U.S.         NYSE Arca.
                            Financial Services
                            ETF.
ANGL.....................  VanEck Vectors       NYSE Arca.
                            Fallen Angel High
                            Yield Bond ETF.
RWM......................  ProShares Short      NYSE Arca.
                            Russell2000.
FTSM.....................  First Trust          NASDAQ.
                            Enhanced Short
                            Maturity ETF.
EWS......................  iShares MSCI         NYSE Arca.
                            Singapore Capped
                            ETF.
FVD......................  First Trust Value    NYSE Arca.
                            Line Dividend
                            Index Fund.
BWX......................  SPDR Bloomberg       NYSE Arca.
                            Barclays
                            International
                            Treasury Bond ETF.
OIL......................  iPath S&P GSCI       NYSE Arca.
                            Crude Oil Total
                            Return Index ETNs.
IYE......................  iShares U.S. Energy  NYSE Arca.
                            ETF.
QTEC.....................  First Trust NASDAQ.- NASDAQ.
                            100 Technology
                            Index Fund.
DGRO.....................  iShares Core         NYSE Arca.
                            Dividend Growth
                            ETF.
TUR......................  iShares MSCI Turkey  NASDAQ.
                            ETF.
VOT......................  Vanguard Mid-Cap     NYSE Arca.
                            Growth ETF.
IYZ......................  iShares US           Cboe BZX.
                            Telecommunications
                            ETF.
PHB......................  PowerShares High     NYSE Arca.
                            Yield Corporate
                            Bond Portfolio.
SCHV.....................  Schwab U.S. Large-   NYSE Arca.
                            Cap Value ETF.
KIE......................  SPDR S&P Insurance   NYSE Arca.
                            ETF.
IDU......................  iShares U.S.         NYSE Arca.
                            Utilities ETF.
EMLP.....................  First Trust North    NYSE Arca.
                            American Energy
                            Infrastructure
                            Fund.
REM......................  iShares Mortgage     Cboe BZX.
                            Real Estate Capped
                            ETF.
RWR......................  SPDR Dow Jones REIT  NYSE Arca.
                            ETF.
ERUS.....................  iShares MSCI Russia  NYSE Arca.
                            Capped ETF.
MGK......................  Vanguard Mega Cap    NYSE Arca.
                            Growth ETF.
VGSH.....................  Vanguard Short-Term  NASDAQ.
                            Government Bond
                            ETF.
FXB......................  CurrencyShares       NYSE Arca.
                            British Pound
                            Sterling Trust.
NOBL.....................  ProShares S&P 500    Cboe BZX.
                            Dividend
                            Aristocrats ETF.
GBIL.....................  Goldman Sachs        NYSE Arca.
                            TreasuryAccess[sup
                            reg] 0-1 Year ETF.
PRF......................  PowerShares FTSE     NYSE Arca.
                            RAFI U.S. 1000
                            Portfolio.
EFG......................  iShares MSCI EAFE    Cboe BZX.
                            Growth ETF.
AMZA.....................  InfraCap MLP ETF...  NYSE Arca.
GVI......................  iShares              Cboe BZX.
                            Intermediate
                            Government/Credit
                            Bond ETF.
GUNR.....................  FlexShares Global    NYSE Arca.
                            Upstream Natural
                            Resources Index
                            Fund.
VAW......................  Vanguard Materials   NYSE Arca.
                            ETF.
XAR......................  SPDR S&P Aerospace   NYSE Arca.
                            & Defense ETF.
BOND.....................  PIMCO Active Bond    NYSE Arca.
                            Exchange-Traded
                            Fund.
VTWO.....................  Vanguard Russell     NASDAQ.
                            2000.
IGF......................  iShares Global       NASDAQ.
                            Infrastructure ETF.
FLRN.....................  SPDR Bloomberg       NYSE Arca.
                            Barclays
                            Investment Grade
                            Floating Rate ETF.
SCHM.....................  Schwab U.S. Mid-Cap  NYSE Arca.
                            ETF.

[[Page 12442]]

 
FNDX.....................  Schwab Fundamental   NYSE Arca.
                            U.S. Large Company
                            Index ETF.
RWO......................  SPDR Dow Jones       NYSE Arca.
                            Global Real Estate
                            ETF.
EWD......................  iShares MSCI Sweden  NYSE Arca.
                            Capped ETF.
CQQQ.....................  Guggenheim China     NYSE Arca.
                            Technology ETF.
VRP......................  PowerShares          NYSE Arca.
                            Variable Rate
                            Preferred
                            Portfolio.
FTEC.....................  Fidelity MSCI        NYSE Arca.
                            Information
                            Technology Index
                            ETF.
ZIV......................  VelocityShares       NASDAQ.
                            Daily Inverse VIX
                            Medium Term ETN.
IYJ......................  iShares U.S.         Cboe BZX.
                            Industrials ETF.
DEM......................  WisdomTree Emerging  NYSE Arca.
                            Markets High
                            Dividend Fund.
USMC.....................  Principal U.S. Mega- NASDAQ.
                            Cap Multi-Factor
                            ETF.
GSY......................  Guggenheim Ultra     NYSE Arca.
                            Short Duration ETF.
XES......................  SPDR S&P Oil & Gas   NYSE Arca.
                            Equipment &
                            Services ETF.
VGIT.....................  Vanguard             NASDAQ.
                            Intermediate-Term
                            Government Bond
                            ETF.
VCR......................  Vanguard Consumer    NYSE Arca.
                            Discretionary ETF.
FNDF.....................  Schwab Fundamental   NYSE Arca.
                            International
                            Large Company
                            Index ETF.
FXY......................  CurrencyShares       NYSE Arca.
                            Japanese Yen Trust.
FNDA.....................  Schwab Fundamental   NYSE Arca.
                            U.S. Small Company
                            Index ETF.
IDEV.....................  iShares Core MSCI    NYSE Arca.
                            International
                            Developed Markets
                            ETF.
DON......................  WisdomTree U.S.      NYSE Arca.
                            MidCap Dividend
                            Fund.
ITM......................  VanEck Vectors AMT-  NYSE Arca.
                            Free Intermediate
                            Municipal Index
                            ETF.
HACK.....................  ETFMG Prime Cyber    NYSE Arca.
                            Security ETF.
CRED.....................  iShares Core US      NASDAQ.
                            Credit Bond ETF.
FNCL.....................  Fidelity MSCI        NYSE Arca.
                            Financials Index
                            ETF.
IXN......................  iShares Global Tech  NYSE Arca.
                            ETF.
ONEQ.....................  Fidelity NASDAQ.     NASDAQ.
                            Composite Index
                            Tracking Stock ETF.
SPDW.....................  SPDR S&P World ex-   NYSE Arca.
                            US ETF.
HEWG.....................  iShares Currency     NASDAQ.
                            Hedged MSCI
                            Germany ETF.
TBF......................  ProShares Short 20+  NYSE Arca.
                            Year Treasury.
RPG......................  Guggenheim S&P 500   NYSE Arca.
                            Pure Growth ETF.
DOG......................  ProShares Short      NYSE Arca.
                            Dow30.
RYT......................  Guggenheim S&P       NYSE Arca.
                            Equal Weight
                            Technology ETF.
LMBS.....................  First Trust Low      NASDAQ.
                            Duration
                            Opportunities ETF.
GXC......................  SPDR S&P China ETF.  NYSE Arca.
SPHB.....................  PowerShares S&P      NYSE Arca.
                            500[supreg] High
                            Beta Portfolio.
INDY.....................  iShares India 50     NASDAQ.
                            ETF.
IYC......................  iShares U.S.         NYSE Arca.
                            Consumer Services
                            ETF.
RING.....................  iShares MSCI Global  NASDAQ.
                            Gold Miners ETF.
MDYG.....................  SPDR S&P 400 Mid     NYSE Arca.
                            Cap Growth ETF.
DFE......................  WisdomTree Europe    NYSE Arca.
                            SmallCap Dividend
                            Fund.
DGRW.....................  WisdomTree U.S.      NASDAQ.
                            Quality Dividend
                            Growth Fund.
SPEM.....................  SPDR S&P Emerging    NYSE Arca.
                            Markets ETF.
FNDE.....................  Schwab Fundamental   NYSE Arca.
                            Emerging Markets
                            Large Company
                            Index ETF.
IXC......................  iShares Global       NYSE Arca.
                            Energy ETF.
EPHE.....................  iShares MSCI         NYSE Arca.
                            Philippines ETF.
DGS......................  WisdomTree Emerging  NYSE Arca.
                            Markets SmallCap
                            Dividend Fund.
FXC......................  CurrencyShares       NYSE Arca.
                            Canadian Dollar
                            Trust.
EPOL.....................  iShares MSCI Poland  NYSE Arca.
                            Capped ETF.
GSLC.....................  Goldman Sachs        NYSE Arca.
                            ActiveBeta U.S.
                            Large Cap Equity
                            ETF.
ISTB.....................  iShares Core 1-5     NASDAQ.
                            Year USD Bond ETF.
VWOB.....................  Vanguard Emerging    NASDAQ.
                            Markets Government
                            Bond ETF.
STIP.....................  iShares 0-5 Year     NYSE Arca.
                            TIPS Bond ETF.
SUB......................  iShares Short-Term   NYSE Arca.
                            National Muni Bond
                            ETF.
TLH......................  iShares 10-20 Year   NYSE Arca.
                            Treasury Bond ETF.
EMHY.....................  iShares Emerging     Cboe BZX.
                            Markets High Yield
                            Bond ETF.
FXO......................  First Trust          NYSE Arca.
                            Financial AlphaDEX
                            Fund.
LDRS.....................  Innovator            NYSE Arca.
                            IBD[supreg] ETF
                            Leaders ETF.
SPAB.....................  SPDR Bloomberg       NYSE Arca.
                            Barclays Aggregate
                            Bond ETF.
SLYV.....................  SPDR S&P 600 Small   NYSE Arca.
                            Cap Value ETF.
DJP......................  iPath Bloomberg      NYSE Arca.
                            Commodity Index
                            Total Return ETN.
SDOG.....................  ALPS Sector          NYSE Arca.
                            Dividend Dogs ETF.
MLPA.....................  Global X MLP ETF...  NYSE Arca.
FBT......................  First Trust NYSE     NYSE Arca.
                            Arca.
                            Biotechnology
                            Index Fund.
FV.......................  First Trust Dorsey   NASDAQ.
                            Wright Focus 5 ETF.
SCHR.....................  Schwab Intermediate- NYSE Arca.
                            Term U.S. Treasury
                            ETF.
MDYV.....................  SPDR S&P 400 Mid     NYSE Arca.
                            Cap Value ETF.
TAN......................  Guggenheim Solar     NYSE Arca.
                            ETF.
FTSL.....................  First Trust Senior   NASDAQ.
                            Loan ETF.
PZA......................  PowerShares          NYSE Arca.
                            National AMT-Free
                            Municipal Bond
                            Portfolio.
VOOG.....................  Vanguard S&P 500     NYSE Arca.
                            Growth ETF.
FEX......................  First Trust Large    NASDAQ.
                            Cap Core AlphaDEX
                            Fund.
SKYY.....................  First Trust ISE      NASDAQ.
                            Cloud Computing
                            Index Fund.

[[Page 12443]]

 
SDIV.....................  Global X             NYSE Arca.
                            SuperDividend ETF.
IAT......................  iShares U.S.         NYSE Arca.
                            Regional Banks ETF.
SLYG.....................  SPDR S&P 600 Small   NYSE Arca.
                            Cap Growth ETF.
IYK......................  iShares U.S.         NYSE Arca.
                            Consumer Goods ETF.
IUSB.....................  iShares Core Total   NASDAQ.
                            USD Bond Market
                            ETF.
VGLT.....................  Vanguard Long-Term   NASDAQ.
                            Government Bond
                            ETF.
XSD......................  SPDR S&P             NYSE Arca.
                            Semiconductor ETF.
EDV......................  Vanguard Extended    NYSE Arca.
                            Duration Treasury
                            ETF.
HYLS.....................  First Trust          NASDAQ.
                            Exchange-Traded
                            Fund IV First
                            Trust Tactical
                            High Yield ETF.
CWI......................  SPDR MSCI ACWI ex-   NYSE Arca.
                            US ETF.
GREK.....................  Global X MSCI        NYSE Arca.
                            Greece ETF.
XT.......................  iShares Exponential  NASDAQ.
                            Technologies ETF.
SPTM.....................  SPDR Portfolio       NYSE Arca.
                            Total Stock Market
                            ETF.
PPLT.....................  ETFS Physical        NYSE Arca.
                            Platinum Shares.
XMLV.....................  PowerShares S&P      NYSE Arca.
                            MidCap Low
                            Volatility
                            Portfolio.
VIGI.....................  Vanguard             NASDAQ.
                            International
                            Dividend
                            Appreciation ETF.
SCHK.....................  Schwab 1000          NYSE Arca.
                            Index[supreg] ETF.
SPYG.....................  SPDR Portfolio S&P   NYSE Arca.
                            500 Growth ETF.
IGM......................  iShares North        NYSE Arca.
                            American Tech ETF.
ARKK.....................  ARK Innovation ETF.  NYSE Arca.
XSLV.....................  PowerShares S&P      NYSE Arca.
                            SmallCap Low
                            Volatility
                            Portfolio.
FXH......................  First Trust Health   NYSE Arca.
                            Care AlphaDEX Fund.
IWY......................  iShares Russell Top  NYSE Arca.
                            200 Growth ETF.
VONG.....................  Vanguard Russell     NASDAQ.
                            1000 Growth ETF.
EWN......................  iShares MSCI         NYSE Arca.
                            Netherlands ETF.
CLRG.....................  IQ Chaikin U.S.      NASDAQ.
                            Large Cap ETF.
PICK.....................  iShares MSCI Global  Cboe BZX.
                            Metals & Mining
                            Producers ETF.
DES......................  WisdomTree U.S.      NYSE Arca.
                            SmallCap Dividend
                            Fund.
SCHC.....................  Schwab               NYSE Arca.
                            International
                            Small-Cap Equity
                            ETF.
IGOV.....................  iShares              NASDAQ.
                            International
                            Treasury Bond ETF.
GNR......................  SPDR S&P Global      NYSE Arca.
                            Natural Resources
                            ETF.
CLY......................  iShares 10+ Year     NYSE Arca.
                            Credit Bond ETF.
IPAC.....................  iShares Core MSCI    NYSE Arca.
                            Pacific ETF.
EMQQ.....................  EMQQ The Emerging    NYSE Arca.
                            Markets Internet &
                            Ecommerce ETF.
FFTY.....................  Innovator            NYSE Arca.
                            IBD[supreg] 50 ETF.
AIEQ.....................  AI Powered Equity    NYSE Arca.
                            ETF.
FEP......................  First Trust Europe   NASDAQ.
                            AlphaDEX Fund.
DLS......................  WisdomTree           NYSE Arca.
                            International
                            SmallCap Dividend
                            Fund.
IXJ......................  iShares Global       NYSE Arca.
                            Healthcare ETF.
AOM......................  iShares Core         NYSE Arca.
                            Moderate
                            Allocation Fund.
PGF......................  PowerShares          NYSE Arca.
                            Financial
                            Preferred
                            Portfolio.
FXR......................  First Trust          NYSE Arca.
                            Industrials/
                            Producer Durables
                            AlphaDEX Fund.
JO.......................  iPath Bloomberg      NYSE Arca.
                            Coffee Subindex
                            Total Return ETN.
FDL......................  First Trust          NYSE Arca.
                            Morningstar
                            Dividend Leaders
                            Index Fund.
FHLC.....................  Fidelity MSCI        NYSE Arca.
                            Health Care Index
                            ETF.
VXZ......................  iPATH S&P 500 VIX    NYSE Arca.
                            Mid-Term Futures
                            ETN.
SIL......................  Global X Silver      NYSE Arca.
                            Miners ETF.
LRGF.....................  iShares Edge MSCI    NYSE Arca.
                            Multifactor USA
                            ETF.
SPLG.....................  SPDR Portfolio       NYSE Arca.
                            Large Cap ETF.
DFJ......................  WisdomTree Japan     NYSE Arca.
                            SmallCap Dividend
                            Fund.
PHYS.....................  Sprott Physical      NYSE Arca.
                            Gold Trust.
SPTL.....................  SPDR Bloomberg       NYSE Arca.
                            Barclays Long Term
                            Treasury ETF.
URA......................  Global X Uranium     NYSE Arca.
                            ETF.
JPIN.....................  JPMorgan             NYSE Arca.
                            Diversified Return
                            International
                            Equity ETF.
PDBC.....................  PowerShares DB       NASDAQ.
                            Optimum Yield
                            Diversified
                            Commodity Strategy
                            Portfolio.
HYMB.....................  SPDR Nuveen S&P      NYSE Arca.
                            High Yield
                            Municipal Bond ETF.
FNDC.....................  Schwab Fundamental   NYSE Arca.
                            International
                            Small Company
                            Index ETF.
HYLB.....................  Xtrackers USD High   NYSE Arca.
                            Yield Corporate
                            Bond ETF.
PXH......................  PowerShares FTSE     NYSE Arca.
                            RAFI Emerging
                            Markets Portfolio.
DBO......................  PowerShares DB Oil   NYSE Arca.
                            Fund.
PRFZ.....................  PowerShares FTSE     NASDAQ.
                            RAFI US 1500 Small-
                            Mid Portfolio.
AIA......................  iShares Asia 50 ETF  NASDAQ.
DWX......................  SPDR S&P             NYSE Arca.
                            International
                            Dividend ETF.
MOAT.....................  VanEck Vectors       NYSE Arca.
                            Morningstar Wide
                            Moat ETF.
XPH......................  SPDR S&P             NYSE Arca.
                            Pharmaceuticals
                            ETF.
RPV......................  Guggenheim S&P 500   NYSE Arca.
                            Pure Value ETF.
AOR......................  iShares Core Growth  NYSE Arca.
                            Allocation Fund.
ITE......................  SPDR Bloomberg       NYSE Arca.
                            Barclays
                            Intermediate Term
                            Treasury ETF.
PSI......................  PowerShares Dynamic  NYSE Arca.
                            Semiconductors
                            Portfolio.
VYMI.....................  Vanguard             NASDAQ.
                            International High
                            Dividend Yield ETF.
PPA......................  PowerShares          NYSE Arca.
                            Aerospace &
                            Defense Portfolio.

[[Page 12444]]

 
JPMF.....................  JPMorgan Managed     NYSE Arca.
                            Futures Strategy
                            ETF.
SCIF.....................  VanEck Vectors       NYSE Arca.
                            India Small-Cap
                            Index ETF.
FM.......................  iShares MSCI         NYSE Arca.
                            Frontier 100 ETF.
FDT......................  First Trust          NASDAQ.
                            Developed Markets
                            ex-US AlphaDEX
                            Fund.
DSI......................  iShares MSCI KLD     NYSE Arca.
                            400 Social ETF.
GWX......................  SPDR S&P             NYSE Arca.
                            International
                            Small Cap ETF.
SLQD.....................  iShares 0-5 Year     NASDAQ.
                            Investment Grade
                            Corporate Bond ETF.
ARKW.....................  ARK Web x.0 ETF....  NYSE Arca.
STPZ.....................  PIMCO 1-5 Year U.S.  NYSE Arca.
                            TIPS Index
                            Exchange-Traded
                            Fund.
SPSM.....................  SPDR Portfolio       NYSE Arca.
                            Small Cap ETF.
IEO......................  iShares U.S. Oil &   Cboe BZX.
                            Gas Exploration &
                            Production ETF.
SPHQ.....................  PowerShares S&P 500  NYSE Arca.
                            Quality Portfolio.
PNQI.....................  PowerShares NASDAQ.  NASDAQ.
                            Internet Portfolio.
IWC......................  iShares Micro-Cap    NYSE Arca.
                            ETF.
VIOO.....................  Vanguard S&P Small-  NYSE Arca.
                            Cap 600 ETF.
RYH......................  Guggenheim S&P       NYSE Arca.
                            Equal Weight
                            Health Care ETF.
SGOL.....................  ETFS Physical Swiss  NYSE Arca.
                            Gold Shares.
REMX.....................  VanEck Vectors Rare  NYSE Arca.
                            Earth/Strategic
                            Metals ETF.
REET.....................  iShares Global REIT  NYSE Arca.
                            ETF.
VONV.....................  Vanguard Russell     NASDAQ.
                            1000 Value.
IHF......................  iShares U.S.         NYSE Arca.
                            Healthcare
                            Providers ETF.
BSCI.....................  Guggenheim           NYSE Arca.
                            BulletShares 2018
                            Corporate Bond ETF.
MGV......................  Vanguard Mega Cap    NYSE Arca.
                            Value ETF.
BSJJ.....................  Guggenheim           NYSE Arca.
                            BulletShares 2019
                            High Yield
                            Corporate Bond ETF.
BBH......................  VanEck Vectors       NASDAQ.
                            Biotech ETF.
IGE......................  iShares North        Cboe BZX.
                            American Natural
                            Resources ETF.
BSJK.....................  Guggenheim           NYSE Arca.
                            BulletShares 2020
                            High Yield
                            Corporate Bond ETF.
PDP......................  PowerShares DWA      NASDAQ.
                            Momentum Portfolio.
FXA......................  CurrencyShares       NYSE Arca.
                            Australian Dollar
                            Trust.
BSJI.....................  Guggenheim           NYSE Arca.
                            BulletShares 2018
                            High Yield
                            Corporate Bond ETF.
RFDI.....................  First Trust          NASDAQ.
                            RiverFront Dynamic
                            Developed
                            International ETF.
CORP.....................  PIMCO Investment     NYSE Arca.
                            Grade Corporate
                            Bond Index
                            Exchange-Traded
                            Fund.
FPX......................  First Trust US IPO   NYSE Arca.
                            Index Fund.
GEM......................  Goldman Sachs        NYSE Arca.
                            ActiveBeta
                            Emerging Markets
                            Equity ETF.
PWV......................  PowerShares Dynamic  NYSE Arca.
                            Large Cap Value
                            Portfolio.
BSCK.....................  Guggenheim           NYSE Arca.
                            BulletShares 2020
                            Corporate Bond ETF.
TDTT.....................  FlexShares iBoxx 3-  NYSE Arca.
                            Year Target
                            Duration TIPS
                            Index Fund.
AMU......................  ETRACS Alerian MLP   NYSE Arca.
                            Index ETN.
IXG......................  iShares Global       NYSE Arca.
                            Financials ETF.
FXD......................  First Trust          NYSE Arca.
                            Consumer
                            Discretionary
                            AlphaDEX Fund.
DLN......................  WisdomTree U.S.      NYSE Arca.
                            LargeCap Dividend
                            Fund.
ILTB.....................  iShares Core Long-   NYSE Arca.
                            Term USD Bond ETF.
FREL.....................  Fidelity MSCI Real   NYSE Arca.
                            Estate Index ETF.
SCJ......................  iShares MSCI Japan   NYSE Arca.
                            Small-Cap ETF.
SPMD.....................  SPDR S&P 1000 ETF..  NYSE Arca.
GSG......................  iShares S&P GSCI     NYSE Arca.
                            Commodity-Indexed
                            Trust.
FENY.....................  Fidelity MSCI        NYSE Arca.
                            Energy Index ETF.
BSCJ.....................  Guggenheim           NYSE Arca.
                            BulletShares 2019
                            Corporate Bond ETF.
FXG......................  First Trust          NYSE Arca.
                            Consumer Staples
                            AlphaDEX Fund.
BAB......................  PowerShares Taxable  NYSE Arca.
                            Municipal Bond
                            Portfolio.
QAI......................  IQ Hedge Multi-      NYSE Arca.
                            Strategy Tracker
                            ETF.
SPYV.....................  SPDR Portfolio S&P   NYSE Arca.
                            500 Value ETF.
PPH......................  VanEck Vectors       NASDAQ.
                            Pharmaceutical ETF.
SMIN.....................  iShares MSCI India   Cboe BZX.
                            Small-Cap ETF.
DBB......................  PowerShares DB Base  NYSE Arca.
                            Metals Fund.
TOK......................  iShares MSCI         NYSE Arca.
                            Kokusai ETF.
SECT.....................  Main Sector          Cboe BZX.
                            Rotation ETF.
FCG......................  First Trust Natural  NYSE Arca.
                            Gas ETF.
IVOG.....................  Vanguard S&P Mid-    NYSE Arca.
                            Cap 400 Growth ETF.
EXI......................  iShares Global       NYSE Arca.
                            Industrials ETF.
EWO......................  iShares MSCI         NYSE Arca.
                            Austria Capped ETF.
SGG......................  iPath Bloomberg      NYSE Arca.
                            Sugar Subindex
                            Total Return ETN.
IDLV.....................  PowerShares S&P      NYSE Arca.
                            International
                            Developed Low
                            Volatility
                            Portfolio.
SIZE.....................  iShares Edge MSCI    NYSE Arca.
                            USA Size Factor
                            ETF.
FTA......................  First Trust Large    NASDAQ.
                            Cap Value AlphaDEX
                            Fund.
FLEE.....................  Franklin FTSE        NYSE Arca.
                            Europe ETF.
PJP......................  PowerShares Dynamic  NYSE Arca.
                            Pharmaceuticals
                            Portfolio.
ECON.....................  EGShares Emerging    NYSE Arca.
                            Markets Consumer
                            ETF.
FEM......................  First Trust          NASDAQ.
                            Emerging Markets
                            AlphaDEX Fund.
HFXI.....................  IQ 50 Percent        NYSE Arca.
                            Hedged FTSE
                            International ETF.
EBND.....................  SPDR Bloomberg       NYSE Arca.
                            Barclays Emerging
                            Markets Local Bond
                            ETF.

[[Page 12445]]

 
INTF.....................  iShares Edge MSCI    NYSE Arca.
                            Multifactor Intl
                            ETF.
EUM......................  ProShares Short      NYSE Arca.
                            MSCI Emerging
                            Markets.
IFV......................  First Trust Dorsey   NASDAQ.
                            Wright
                            International
                            Focus 5 ETF.
LEMB.....................  iShares J.P. Morgan  NYSE Arca.
                            EM Local Currency
                            Bond ETF.
IPE......................  SPDR Bloomberg       NYSE Arca.
                            Barclays TIPS ETF.
BSCL.....................  Guggenheim           NYSE Arca.
                            BulletShares 2021
                            Corporate Bond ETF.
AOK......................  iShares Core         NYSE Arca.
                            Conservative
                            Allocation Fund.
IHE......................  iShares U.S.         NYSE Arca.
                            Pharmaceuticals
                            ETF.
FXZ......................  First Trust          NYSE Arca.
                            Materials AlphaDEX
                            Fund.
IYY......................  iShares Dow Jones    NYSE Arca.
                            U.S. ETF.
PXF......................  PowerShares FTSE     NYSE Arca.
                            RAFI Developed
                            Markets ex-U.S.
                            Portfolio.
QDF......................  FlexShares Quality   NYSE Arca.
                            Dividend Index
                            Fund.
HYEM.....................  VanEck Vectors       NYSE Arca.
                            Emerging Markets
                            High Yield Bond
                            ETF.
AOA......................  iShares Core         NYSE Arca.
                            Aggressive
                            Allocation Fund.
RYF......................  Guggenheim S&P       NYSE Arca.
                            Equal Weight
                            Financial ETF.
PSLV.....................  Sprott Physical      NYSE Arca.
                            Silver Trust.
FXN......................  First Trust Energy   NYSE Arca.
                            AlphaDEX Fund.
SPYD.....................  SPDR Portfolio S&P   NYSE Arca.
                            500 High Dividend
                            ETF.
MOO......................  VanEck Vectors       NYSE Arca.
                            Agribusiness ETF.
ULVM.....................  USAA MSCI USA Value  NYSE Arca.
                            Momentum Blend
                            Index ETF.
PKW......................  PowerShares Buyback  NASDAQ.
                            Achievers
                            Portfolio.
PWS......................  Pacer WealthShield   Cboe BZX.
                            ETF.
QQEW.....................  First Trust NASDAQ.- NASDAQ.
                            100 Equal Weighted
                            Index Fund.
DHS......................  WisdomTree U.S.      NYSE Arca.
                            High Dividend Fund.
IVOO.....................  Vanguard S&P Mid-    NYSE Arca.
                            Cap 400 ETF.
CMF......................  iShares California   NYSE Arca.
                            Muni Bond ETF.
IGHG.....................  ProShares            Cboe BZX.
                            Investment Grade-
                            Interest Rate
                            Hedged ETF.
SPLB.....................  SPDR Bloomberg       NYSE Arca.
                            Barclays Long Term
                            Corporate Bond ET.
PID......................  PowerShares          NASDAQ.
                            International
                            Dividend Achievers
                            Portfolio.
VONE.....................  Vanguard Russell     NASDAQ.
                            1000.
IAGG.....................  iShares              Cboe BZX.
                            International
                            Aggregate Bond
                            Fund.
EPU......................  iShares MSCI All     NYSE Arca.
                            Peru Capped ETF.
RWL......................  Oppenheimer Large    NYSE Arca.
                            Cap Revenue ETF.
RHS......................  Guggenheim S&P 500   NYSE Arca.
                            Equal Weight
                            Consumer Staples
                            ETF.
USRT.....................  iShares U.S. Core    NYSE Arca.
                            REIT ETF.
MGC......................  Vanguard Mega Cap    NYSE Arca.
                            300 Index Fund.
PTLC.....................  Pacer Trendpilot     Cboe BZX.
                            750 ETF.
IQDF.....................  FlexShares           NYSE Arca.
                            International
                            Quality Dividend
                            Index Fund.
EWX......................  SPDR S&P Emerging    NYSE Arca.
                            Markets Small Cap
                            ETF.
JKD......................  iShares Morningstar  NYSE Arca.
                            Large-Cap ETF.
FXF......................  CurrencyShares       NYSE Arca.
                            Swiss Franc Trust.
PFXF.....................  VanEck Vectors       NYSE Arca.
                            Preferred
                            Securities ex
                            Financials ETF.
LVHD.....................  Legg Mason Low       NASDAQ.
                            Volatility High
                            Dividend ETF.
KBWY.....................  PowerShares KBW      NASDAQ.
                            Premium Yield
                            Equity REIT
                            Portfolio.
FEMS.....................  First Trust          NASDAQ.
                            Emerging Markets
                            Small Cap AlphaDEX
                            Fund.
CFO......................  Victory CEMP US 500  NASDAQ.
                            Enhanced
                            Volatility Wtd
                            Index ETF.
PSCT.....................  PowerShares S&P      NASDAQ.
                            SmallCap
                            Information
                            Technology
                            Portfolio.
NIB......................  iPath Bloomberg      NYSE Arca.
                            Cocoa Subindex
                            Total Return ETN.
CSML.....................  IQ Chaikin U.S.      NASDAQ.
                            Small Cap ETF.
BSCM.....................  Guggenheim           NYSE Arca.
                            BulletShares 2022
                            Corporate Bond ETF.
IEZ......................  iShares U.S. Oil     NYSE Arca.
                            Equipment &
                            Services ETF.
FUTY.....................  Fidelity MSCI        NYSE Arca.
                            Utilities Index
                            ETF.
FTCS.....................  First Trust Capital  NASDAQ.
                            Strength ETF.
PALL.....................  ETFS Physical        NYSE Arca.
                            Palladium Shares.
XLG......................  Guggenheim S&P       NYSE Arca.
                            500[supreg] Top 50
                            ETF.
BSJL.....................  Guggenheim           NYSE Arca.
                            BulletShares 2021
                            High Yield
                            Corporate Bond ETF.
RDIV.....................  Oppenheimer Ultra    NYSE Arca.
                            Dividend Revenue
                            ETF.
CGW......................  Guggenheim S&P       NYSE Arca.
                            Global Water Index
                            ETF.
BSCH.....................  Guggenheim           NYSE Arca.
                            BulletShares 2017
                            Corporate Bond ETF.
FSTA.....................  Fidelity MSCI        NYSE Arca.
                            Consumer Staples
                            Index ETF.
FDD......................  First Trust STOXX    NYSE Arca.
                            European Select
                            Dividend Income
                            Fund.
PSP......................  PowerShares Global   NYSE Arca.
                            Listed Private
                            Equity Portfolio.
FIDU.....................  Fidelity MSCI        NYSE Arca.
                            Industrials Index
                            ETF.
VNM......................  VanEck Vectors       NYSE Arca.
                            Vietnam ETF.
PSK......................  SPDR Wells Fargo     NYSE Arca.
                            Preferred Stock
                            ETF.
MDIV.....................  First Trust Multi-   NASDAQ.
                            Asset Diversified
                            Income Index Fund.
ARGT.....................  Global X MSCI        NYSE Arca.
                            Argentina ETF.
EEMA.....................  iShares MSCI         NASDAQ.
                            Emerging Markets
                            Asia ETF.
EZM......................  WisdomTree U.S.      NYSE Arca.
                            MidCap Earnings
                            Fund.
IFGL.....................  iShares              NASDAQ.
                            International
                            Developed Real
                            Estate ETF.
RWJ......................  Oppenheimer Small    NYSE Arca.
                            Cap Revenue ETF.

[[Page 12446]]

 
TDTF.....................  FlexShares iBoxx 5-  NYSE Arca.
                            Year Target
                            Duration TIPS
                            Index Fund.
PEY......................  PowerShares High     NASDAQ.
                            Yield Equity
                            Dividend Achievers
                            Portfolio.
ATMP.....................  Barclays ETN+        NYSE Arca.
                            Select MLP ETN.
PTH......................  PowerShares DWA      NASDAQ.
                            Healthcare
                            Momentum Portfolio.
IOO......................  iShares Global 100   NYSE Arca.
                            ETF.
GBF......................  iShares Government/  NYSE Arca.
                            Credit Bond ETF.
FTXO.....................  First Trust Nasdaq   NASDAQ.
                            Bank ETF.
FIXD.....................  First Trust TCW      NASDAQ.
                            Opportunistic
                            Fixed Income ETF.
HEEM.....................  iShares Currency     Cboe BZX.
                            Hedged MSCI
                            Emerging Markets
                            ETF.
PIN......................  PowerShares India    NYSE Arca.
                            Portfolio.
PCEF.....................  PowerShares CEF      NYSE Arca.
                            Income Composite
                            Portfolio.
CHIQ.....................  Global X China       NYSE Arca.
                            Consumer ETF.
DWM......................  WisdomTree           NYSE Arca.
                            International
                            Equity Fund.
CXSE.....................  WisdomTree Trust     NASDAQ.
                            WisdomTree China
                            ex-State-Owned
                            Enterprises Fund.
VOOV.....................  Vanguard S&P 500     NYSE Arca.
                            Value ETF.
RYE......................  Guggenheim S&P 500   NYSE Arca.
                            Equal Weight
                            Energy ETF.
PKB......................  PowerShares Dynamic  NYSE Arca.
                            Building &
                            Construction
                            Portfolio.
GMF......................  SPDR S&P Emerging    NYSE Arca.
                            Asia Pacific ETF.
MNA......................  IQ Merger Arbitrage  NYSE Arca.
                            ETF.
FMAT.....................  Fidelity MSCI        NYSE Arca.
                            Materials Index
                            ETF.
OUSA.....................  O'Shares FTSE U.S.   NYSE Arca.
                            Quality Dividend
                            ETF.
RZV......................  Guggenheim S&P       NYSE Arca.
                            Smallcap 600 Pure
                            Value ETF.
IBDM.....................  iShares iBonds Dec   NYSE Arca.
                            2021 Term
                            Corporate ETF.
FLTR.....................  VanEck Vectors       NYSE Arca.
                            Investment Grade
                            Floating Rate ETF.
BNO......................  United States Brent  NYSE Arca.
                            Oil Fund, LP.
QABA.....................  First Trust NASDAQ.  NASDAQ.
                            ABA Community Bank
                            Index Fund.
FDIS.....................  Fidelity MSCI        NYSE Arca.
                            Consumer
                            Discretionary
                            Index ETF.
SLY......................  SPDR S&P 600 Small   NYSE Arca.
                            Cap ETF.
CDC......................  Victory CEMP US EQ   NASDAQ.
                            Income Enhanced
                            Volatility Wtd
                            Index ETF.
FYX......................  First Trust Small    NASDAQ.
                            Cap Core AlphaDEX
                            Fund.
SUSA.....................  iShares MSCI USA     NYSE Arca.
                            ESG Select ETF.
REZ......................  iShares Residential  NYSE Arca.
                            Real Estate Capped
                            ETF.
IBDL.....................  iShares iBonds Dec   NYSE Arca.
                            2020 Term
                            Corporate ETF.
BSJH.....................  Guggenheim           NYSE Arca.
                            BulletShares 2017
                            High Yield
                            Corporate Bond ETF.
UIVM.....................  USAA MSCI            NYSE Arca.
                            International
                            Value Momentum
                            Blend Index ETF.
GSIE.....................  Goldman Sachs        NYSE Arca.
                            ActiveBeta
                            International
                            Equity ETF.
AGGY.....................  WisdomTree Barclays  NYSE Arca.
                            Yield Enhanced
                            U.S. Aggregate
                            Bond Fund.
JPUS.....................  JPMorgan             NYSE Arca.
                            Diversified Return
                            US Equity ETF.
RGI......................  Guggenheim S&P 500   NYSE Arca.
                            Equal Weight
                            Industrials ETF.
IHDG.....................  WisdomTree           NYSE Arca.
                            International
                            Hedged Quality
                            Dividend Growth
                            Fund.
URTH.....................  iShares MSCI World   NYSE Arca.
                            ETF.
DGL......................  PowerShares DB Gold  NYSE Arca.
                            Fund.
CIBR.....................  First Trust NASDAQ.  NASDAQ.
                            Cybersecurity ETF.
FMB......................  First Trust Managed  NASDAQ.
                            Municipal ETF.
FTC......................  First Trust Large    NASDAQ.
                            Cap Growth
                            AlphaDEX Fund.
RDVY.....................  First Trust NASDAQ.  NASDAQ.
                            Rising Dividend
                            Achievers ETF.
KBA......................  KraneShares Bosera   NYSE Arca.
                            MSCI China A Share
                            ETF.
DXJS.....................  WisdomTree Japan     NASDAQ.
                            Hedged SmallCap
                            Equity Fund.
TDIV.....................  First Trust NASDAQ.  NASDAQ.
                            Technology
                            Dividend Index
                            Fund.
IXP......................  iShares Global       NYSE Arca.
                            Telecom ETF.
SLX......................  VanEck Vectors       NYSE Arca.
                            Steel ETF.
------------------------------------------------------------------------

Appendix B--Data

    Unless otherwise specified, the following data shall be 
collected and transmitted to the SEC in an agreed-upon format on a 
monthly basis, to be provided 30 calendar days following month end. 
Unless otherwise specified, the Primary Listing Exchanges shall be 
responsible for collecting and transmitting the data to the SEC. 
Data collected in connection with Sections II(E)--(G) below shall be 
transmitted to the SEC with a request for confidential treatment 
under the Freedom of Information Act. 5 U.S.C. 552, and the SEC's 
rules and regulations thereunder.

I. Summary Statistics

A. Frequency with which NMS Stocks enter a Limit State. Such summary 
data shall be broken down as follows:

1. Partition stocks by category
    a. Tier 1 non-ETP issues >$3.00
    b. Tier 1 non-ETP issues >= $0.75 and = $3.00
    c. Tier 1 non-ETP issues <$0.75
    d. Tier 1 non-leveraged ETPs in each of above categories
    e. Tier 1 leveraged ETPs in each of above categories
    f. Tier 2 non-ETPs in each of above categories
    g. Tier 2 non-leveraged ETPs in each of above categories
    h. Tier 2 leveraged ETPs in each of above categories
2. Partition by time of day
    a. Opening (prior to 9:45 a.m. ET)
    b. Regular (between 9:45 a.m. ET and 3:35 p.m. ET)
    c. Closing (after 3:35 p.m. ET)
    d. Within five minutes of a Trading Pause re-open or IPO open
3. Track reasons for entering a Limit State, such as:
    a. Liquidity gap--price reverts from a Limit State Quotation and 
returns to trading within the Price Bands
    b. Broken trades

[[Page 12447]]

    c. Primary Listing Exchange manually declares a Trading Pause 
pursuant to Section (VII)(2) of the Plan
    d. Other
B. Determine (1), (2) and (3) for when a Trading Pause has been 
declared for an NMS Stock pursuant to the Plan.

II. Raw Data (All Participants, Except A-E, Which Are for the Primary 
Listing Exchanges Only)

A. Record of every Straddle State
    1. Ticker, date, time entered, time exited, flag for ending with 
Limit State, flag for ending with manual override.
    2. Pipe delimited with field names as first record.
B. Record of every Price Band
    1. Ticker, date, time at beginning of Price Band, Upper Price 
Band, Lower Price Band
    2. Pipe delimited with field names as first record
C. Record of every Limit State
    1. Ticker, date, time entered, time exited, flag for halt
    2. Pipe delimited with field names as first record
D. Record of every Trading Pause or halt
    1. Ticker, date, time entered, time exited, type of halt (i.e., 
regulatory halt, non-regulatory halt, Trading Pause pursuant to the 
Plan, other)
    2. Pipe delimited with field names as first record
E. Data set or orders entered into reopening auctions during halts 
or Trading Pauses
    1. Arrivals, Changes, Cancels, # shares, limit/market, side, 
Limit State side
    2. Pipe delimited with field name as first record
F. Data set of order events received during Limit States
G. Summary data on order flow of arrivals and cancellations for each 
15-second period for discrete time periods and sample stocks to be 
determined by the SEC in subsequent data requests. Must indicate 
side(s) of Limit State.
    1. Market/marketable sell orders arrivals and executions
    a. Count
    b. Shares
    c. Shares executed
    2. Market/marketable buy orders arrivals and executions
    a. Count
    b. Shares
    c. Shares executed
    3. Count arriving, volume arriving and shares executing in limit 
sell orders above NBBO mid-point
    4. Count arriving, volume arriving and shares executing in limit 
sell orders at or below NBBO mid-point (non-marketable)
    5. Count arriving, volume arriving and shares executing in limit 
buy orders at or above NBBO mid-point (non-marketable)
    6. Count arriving, volume arriving and shares executing in limit 
buy orders below NBBO mid-point
    7. Count and volume arriving of limit sell orders priced at or 
above NBBO mid-point plus $0.05
    8. Count and volume arriving of limit buy orders priced at or 
below NBBO mid-point minus $0.05
    9. Count and volume of (3-8) for cancels
    10. Include: ticker, date, time at start, time of Limit State, 
all data item fields in 1, last sale prior to 15-second period (null 
if no trades today), range during 15-second period, last trade 
during 15-second period

III. On May 28, 2015, Participants Provided to the SEC a Supplemental 
Joint Assessment Relating to the Impact of the Plan and Calibration of 
the Percentage Parameters as Follows

A. Assess the statistical and economic impact on liquidity of 
approaching Price Bands.
B. Assess the statistical and economic impact of the Price Bands on 
erroneous trades.
C. Assess the statistical and economic impact of the appropriateness 
of the Percentage Parameters used for the Price Bands.
D. Assess whether the Limit State is the appropriate length to allow 
for liquidity replenishment when a Limit State is reached because of 
a temporary liquidity gap.
E. Evaluate concerns from the options markets regarding the 
statistical and economic impact of Limit States on liquidity and 
market quality in the options markets. (Participants that operate 
options exchange should also prepare such assessment reports.)
F. Assess whether the process for entering a Limit State should be 
adjusted and whether Straddle States are problematic.
G. Assess whether the process for exiting a Limit State should be 
adjusted.
H. Assess whether the Trading Pauses are too long or short and 
whether the reopening procedures should be adjusted.

[FR Doc. 2018-05661 Filed 3-20-18; 8:45 am]
 BILLING CODE 8011-01-P