[Federal Register Volume 83, Number 197 (Thursday, October 11, 2018)]
[Notices]
[Pages 51531-51532]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-22093]


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SECURITIES AND EXCHANGE COMMISSION

[Securities Exchange Act of 1934; Release No. 34-84370/October 4, 2018]


In the Matter of the NYSE Arca, Inc. For an Order of Disapproval 
of Proposed Rule Change Relating To Listing and Trading of the Direxion 
Daily Bitcoin Bear 1X Shares, Direxion Daily Bitcoin 1.25X Bull Shares, 
Direxion Daily Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull 
Shares, and Direxion Daily Bitcoin 2X Bear Shares Under NYSE Arca Rule 
8.200-E (File No. SR-NYSEArca-2018-02); Order Scheduling Filing of 
Statements on Review

    On January 4, 2018, NYSE Arca, Inc. (``NYSE Arca'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Exchange 
Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to list 
and trade shares of the following exchange-traded products under NYSE 
Arca Rule 8.200-E, Commentary .02: Direxion Daily Bitcoin Bear 1X 
Shares, Direxion Daily Bitcoin 1.25X Bull Shares, Direxion Daily 
Bitcoin 1.5X Bull Shares, Direxion Daily Bitcoin 2X Bull Shares, and 
Direxion Daily Bitcoin 2X Bear Shares. The proposed rule change was 
published for comment in the Federal Register on January 24, 2018.\3\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 82484 (Jan. 11, 
2018), 83 FR 2704 (Jan. 18, 2018).
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    On March 1, 2018, pursuant to Section 19(b)(2) of the Exchange Act, 
the Commission designated a longer period within which to approve the 
proposed rule change, disapprove the proposed rule change, or institute 
proceedings to determine whether to approve or disapprove the proposed 
rule change.\4\ On April 23, 2018, the Commission instituted 
proceedings under Section 19(b)(2)(B) of the Exchange Act \5\ to 
determine whether to approve or disapprove the proposed rule change.\6\ 
On July 18, 2018, the Commission extended the period for consideration 
of the proposed rule change to September 21, 2018.\7\
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    \4\ See Securities Exchange Act Release No. 82759 (Feb. 22, 
2018), 83 FR 8719 (Feb. 28, 2018).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 82995 (Apr. 5, 
2018), 83 FR 15425 (Apr. 10, 2018).
    \7\ See Securities Exchange Act Release No. 83661 (July 18, 
2018), 83 FR 35040 (July 24, 2018).
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    On August 22, 2018, the Division of Trading and Markets, pursuant 
to

[[Page 51532]]

delegated authority,\8\ issued an order disapproving the proposed rule 
change.\9\ On August 23, 2018, the Secretary of the Commission notified 
NYSEArca that, pursuant to Commission Rule of Practice 431,\10\ the 
Commission would review the Division's action pursuant to delegated 
authority and that the Division's action pursuant to delegated 
authority had been automatically stayed.\11\
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    \8\ 17 CFR 200.30-3(a)(12).
    \9\ See Securities Exchange Act Release No. 83913 (Aug. 22, 
2018), 83 FR 43923 (Aug. 28, 2018) (SR-CboeBZX-2018-001).
    \10\ See 17 CFR 201.431.
    \11\ See Letter from Secretary of the Commission to Eugene 
Schlanger, Counsel, NYSE Group, Inc. (Aug. 23, 2018), available at 
https://www.sec.gov/rules/sro/nysearca/2018/34-83912-letter-from-secretary.pdf.
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    Accordingly, it is ordered, pursuant to Commission Rule of Practice 
431, that by November 5, 2018, any party or other person may file a 
statement in support of, or in opposition to, the action made pursuant 
to delegated authority.
    It is further ordered that the order disapproving proposed rule 
change SR-CboeBZX-2018-001 shall remain in effect pending the 
Commission's review.

    By the Commission.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-22093 Filed 10-10-18; 8:45 am]
 BILLING CODE 8011-01-P