[Federal Register Volume 84, Number 118 (Wednesday, June 19, 2019)]
[Notices]
[Page 28602]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-12926]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86104; File No. SR-NYSEArca-2018-98]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change, as 
Modified by Amendment No. 3, To List and Trade Shares of the iShares 
Commodity Multi-Strategy ETF Under NYSE Arca Rule 8.600-E

June 13, 2019.
    On December 21, 2018, NYSE Arca, Inc. (``Exchange'' or ``NYSE 
Arca'') 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 list and trade shares of the iShares Commodity 
Multi-Strategy ETF under NYSE Arca Rule 8.600-E. On February 1, 2019, 
pursuant to Section 19(b)(1) of the Act,\3\ the Commission noticed the 
proposed rule change and, pursuant to Section 19(b)(2) of the Act,\4\ 
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.\5\ On March 6, 2019, the Exchange filed Amendment No. 1 to the 
proposed rule change, which replaced and superseded the proposed rule 
change as originally filed.\6\ On March 14, 2019, the Exchange filed 
Amendment No. 2 to the proposed rule change, which replaced and 
superseded the proposed rule change, as modified by Amendment No. 1.\7\ 
On March 20, 2019, the Commission instituted proceedings under Section 
19(b)(2)(B) of the Act \8\ to determine whether to approve or 
disapprove the proposed rule change.\9\ On March 29, 2019, the Exchange 
filed Amendment No. 3 to the proposed rule change, which replaced and 
superseded the proposed rule change, as modified by Amendment No. 
2.\10\ The Commission has received no comment letters on the proposed 
rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(1).
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 85033, 84 FR 2618 
(February 7, 2019).
    \6\ Amendment No. 1 is available at: https://www.sec.gov/comments/sr-nysearca-2018-98/srnysearca201898-5031693-183046.pdf.
    \7\ Amendment No. 2 is available at: https://www.sec.gov/comments/sr-nysearca-2018-98/srnysearca201898-5123714-183326.pdf.
    \8\ 15 U.S.C. 78s(b)(2)(B).
    \9\ See Securities Exchange Act Release No. 85375, 84 FR 11375 
(March 26, 2019). Specifically, the Commission instituted 
proceedings to allow for additional analysis of the proposed rule 
change's consistency with Section 6(b)(5) of the Act, which 
requires, among other things, that the rules of a national 
securities exchange be ``designed to prevent fraudulent and 
manipulative acts and practices, to promote just and equitable 
principles of trade,'' and ``to protect investors and the public 
interest.'' See id. at 11378 (citing 15 U.S.C. 78f(b)(5)).
    \10\ Amendment No. 3 is available at: https://www.sec.gov/comments/sr-nysearca-2018-98/srnysearca201898-5271215-183729.pdf.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \11\ 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 date 
of publication of notice of filing of the proposed rule change was 
December 21, 2018. June 19, 2019, is 180 days from that date, and 
August 18, 2019, is 240 days from that date.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    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. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\12\ designates August 18, 2019, as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-NYSEArca-2018-98).
---------------------------------------------------------------------------

    \12\ Id.
    \13\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-12926 Filed 6-18-19; 8:45 am]
BILLING CODE 8011-01-P