[Federal Register Volume 78, Number 11 (Wednesday, January 16, 2013)]
[Notices]
[Page 3482]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-00790]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68616; File No. SR-NYSEArca-2012-37]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Withdrawal of Proposed Rule Change Proposing a Pilot Program To Create 
a Lead Market Maker Issuer Incentive Program for Issuers of Certain 
Exchange-Traded Products Listed on NYSE Arca, Inc.

January 10, 2013.
    On April 27, 2012, 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 to create and 
implement, on a pilot basis, a Lead Market Maker Issuer Incentive 
Program for issuers of certain exchange-traded products listed on the 
Exchange. The proposed rule change was published for comment in the 
Federal Register on May 17, 2012.\3\ The Commission initially received 
two comment letters on the proposal.\4\ On June 20, 2012, the 
Commission extended the time period in 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, to August 15, 2012.\5\ The Commission subsequently received one 
additional comment letter on the proposed rule change.\6\
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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. 66966 (May 11, 
2012), 77 FR 29419.
    \4\ See Letter from Gus Sauter, Managing Director and Chief 
Investment Officer, Vanguard, dated June 7, 2012; and Letter from 
Ari Burstein, Senior Counsel, Investment Company Institute, dated 
June 7, 2012.
    \5\ See Securities Exchange Act Release No. 67222 (June 20, 
2012), 77 FR 38116 (June 26, 2012).
    \6\ See Letter from John T. Hyland, CFA, Chief Investment 
Officer, United States Commodity Funds LLC, dated June 27, 2012.
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    On July 11, 2012, the Commission instituted proceedings to 
determine whether to approve or disapprove the proposed rule change.\7\ 
The Commission thereafter received six comment letters and a response 
letter from the Exchange.\8\ On October 2, 2012, the Commission issued 
a notice of designation of longer period for Commission action on 
proceedings to determine whether to disapprove the proposed rule 
change.\9\ On January 9, 2013, the Exchange withdrew the proposed rule 
change (SR-NYSEArca-2012-37).
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    \7\ See Securities Exchange Act Release No. 67411, 77 FR 42052 
(July 17, 2012).
    \8\ See Letter from Joseph Cavatoni, Managing Director, and 
Joanne Medero, Managing Director, BlackRock, Inc., dated July 11, 
2012; Letter from Stanislav Dolgopolov, Assistant Adjunct Professor, 
UCLA School of Law, dated August 15, 2012; Letter from James E. 
Ross, Global Head, SPDR Exchange Traded Funds, State Street Global 
Advisors, dated August 16, 2012; Letter from Ari Burstein, Senior 
Counsel, Investment Company Institute, dated August 16, 2012; Letter 
from F. William McNabb, Chairman and Chief Executive Officer, 
Vanguard, dated August 16, 2012; and Letter from Andrew Stevens, 
Legal Counsel, IMC Chicago, LLC d/b/a IMC Financial Markets, dated 
August 16, 2012. See also Letter from Janet McGinness, EVP & 
Corporate Secretary, General Counsel, NYSE Markets, dated August 14, 
2012.
    \9\ See Securities Exchange Act Release No. 67962, 77 FR 61462 
(October 9, 2012).

    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)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-00790 Filed 1-15-13; 8:45 am]
BILLING CODE 8011-01-P