[Federal Register Volume 81, Number 167 (Monday, August 29, 2016)]
[Notices]
[Pages 59259-59260]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-20572]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78641; File No. SR-NYSE-2016-44]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change, as Modified by Amendment No. 1 Thereto, Allowing 
the Exchange To Trade Pursuant To Unlisted Trading Privileges for Any 
NMS Stock Listed on Another National Securities Exchange; Establishing 
Listing and Trading Requirements for Exchange Traded Products; and 
Adopting New Equity Trading Rules Relating To Trading Halts of 
Securities Traded Pursuant to UTP on the Pillar Platform

August 23, 2016.
    On June 30, 2016, New York Stock Exchange LLC (``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 (1) allow 
the Exchange to trade pursuant to unlisted trading privileges (``UTP'') 
any NMS Stock listed on another national securities exchange; (2) 
establish listing and trading requirements for exchange-traded products 
(``ETPs''); and (3) adopt new equity trading rules relating to trading 
halts of securities traded pursuant to UTP on the Pillar platform. The 
proposed rule change was published for comment in the Federal Register 
on July 14, 2016.\3\ On July 26, 2016, the Exchange filed Amendment No. 
1 to the proposed rule change.\4\ The

[[Page 59260]]

Commission has 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. 78263 (Jul. 8, 
2016), 81 FR 45580.
    \4\ In Amendment No. 1, the Exchange: (1) Added a bullet point 
stating that ``[b]ecause the Exchange's rules regarding the 
production of books and records are described in Rule 440, the 
Exchange is proposing to refer to Rule 440 in its proposed rules 
wherever NYSE Arca Equities Rule 4.4 is referenced in the rules of 
NYSE Arca Equities proposed in this filing;'' (2) deleted the 
sentence stating that ``[i]f an exchange has approved trading rules, 
procedures and listing standards in place that have been approved by 
the Commission for the product class that would include a new 
derivative securities product, the listing and trading of such `new 
derivative securities product,' does not require a proposed rule 
change under Section 19b-4 of the Act'' and made conforming changes 
to the rest of that paragraph; (3) deleted the bullet point that 
stated ``[c]orrection of a typographical error in NYSE Arca Equities 
Rule 8.400(a) so that proposed Rule 8.400(a) reads `as such terms 
are used in Rule 5.1(b)' in the last sentence, rather than `as such 
terms are used in the Rule 5.1(b)' as is currently drafted in NYSE 
Arca Equities Rule 8.400(a);'' and (4) noted that ``for new ETPs to 
be traded pursuant to UTP, which are listed and traded on another 
exchange pursuant to Rule 19b-4(e), the Exchange would be required 
to file Form 19b-4(e) with the Commission in accordance with the 
requirements therein.'' Amendment No. 1 to the proposed rule change 
is available at: https://www.sec.gov/comments/sr-nyse-2016-44/nyse201644-1.pdf. Because Amendment No. 1 to the proposed rule 
change does not materially alter the substance of the proposed rule 
change or raise unique or novel regulatory issues, Amendment No. 1 
is not subject to notice and comment.
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    Section 19(b)(2) of the Act \5\ provides that, within 45 days of 
the publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this proposed rule change 
is August 28, 2016. The Commission is extending this 45-day time 
period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is appropriate to designate a longer 
period within which to take action on the proposed rule change so that 
it has sufficient time to consider the proposed rule change. 
Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates October 12, 2016, as the date by which the 
Commission should either approve or disapprove or institute proceedings 
to determine whether to disapprove the proposed rule change (File 
Number SR-NYSE-2016-44).
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    \6\ Id.
    \7\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-20572 Filed 8-26-16; 8:45 am]
 BILLING CODE 8011-01-P