Document ID: SEC-2014-0873-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Posted Date: 2014-05-28T04:00Z

[Federal Register Volume 79, Number 102 (Wednesday, May 28, 2014)]
[Notices]
[Pages 30680-30681]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-12230]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72216; File No. SR-NYSEArca-2013-122]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove Proposed Rule Change, as 
Modified by Amendment No. 2 Thereto, Relating to the Use of Derivative 
Instruments by PIMCO Total Return Exchange Traded Fund

May 21, 2014.
    On November 6, 2013, NYSE Arca, Inc. (``Exchange'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change relating to the 
use of derivative instruments by the PIMCO Total Return Exchange Traded 
Fund (``Fund''). The proposed rule change was published for comment in 
the Federal Register on November 26, 2013.\3\ On January 9, 2014, 
pursuant to Section 19(b)(2) of the Act,\4\ the Commission designated a 
longer period within which to either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether to disapprove the proposed rule change.\5\ On 
February 24, 2014, the Commission instituted proceedings to determine 
whether to approve or disapprove the proposed rule change.\6\ On April 
15, 2014, the Exchange submitted Amendment Nos. 1 and 2 to

[[Page 30681]]

the proposed rule change.\7\ The Commission received no comments on the 
proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 70905 (Nov. 20, 
2013), 78 FR 70610 (``Notice'').
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 71271, 79 FR 2736 
(Jan. 15, 2014). The Commission determined that it was appropriate 
to designate a longer period within which to take action on the 
proposed rule change so that it has sufficient time to consider the 
proposed rule change. Accordingly, the Commission designated 
February 24, 2014 as the date by which it should approve, 
disapprove, or institute proceedings to determine whether to 
disapprove the proposed rule change.
    \6\ See Securities Exchange Act Release No. 71606, 79 FR 11486 
(Feb. 28, 2014).
    \7\ The Exchange submitted and subsequently withdrew Amendment 
No. 1 to the proposed rule change. In Amendment No. 2, the Exchange 
provided additional details describing how the contents of the 
portfolio composition of the Fund would be disclosed on a daily 
basis. Specifically, the Fund will disclose on the Fund's Web site 
the following information regarding each portfolio holding, as 
applicable to the type of holding: ticker symbol, CUSIP number or 
other identifier, if any; a description of the holding (including 
the type of holding, such as the type of swap); the identity of the 
security, commodity, index or other asset or instrument underlying 
the holding, if any; for options, the option strike price; quantity 
held (as measured by, for example, par value, notional value or 
number of shares, contracts or units); maturity date, if any; coupon 
rate, if any; effective date, if any; market value of the holding; 
and the percentage weighting of the holding in the Fund's portfolio.
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    Section 19(b)(2) of the Act \8\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180 days after 
the date of publication of notice of filing of the proposed rule 
change. The Commission may extend the period for issuing an order 
approving or disapproving the proposed rule change, however, by not 
more than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for such determination. The 
proposed rule change was published for notice and comment in the 
Federal Register on November 26, 2013. May 25, 2014 is 180 days from 
that date, and July 24, 2014 is 240 days from that date.
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    \8\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider this proposed 
rule change. The proposed rule change would, among other things, permit 
the continued listing and trading of shares of the Fund that seeks to 
invest in certain derivative instruments, including forwards, exchange-
traded and over-the-counter options contracts, exchange-traded futures 
contracts, options on futures contracts, and swap agreements.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\9\ designates July 24, 2014 as the date by which the Commission 
should either approve or disapprove the proposed rule change (File 
Number SR-NYSEArca-2013-122), as modified by Amendment No. 2 thereto.
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    \9\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(57).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-12230 Filed 5-27-14; 8:45 am]
BILLING CODE 8011-01-P