2018-18063. Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Provide for the Listing of Exchange Traded Products With No Component NMS Stock ...

August 16, 2018.

On June 15, 2018, 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) Provide for the listing of exchange traded products (“ETPs”) that do not have any component NMS Stock ^[3] that is listed on the Exchange or that is based on, or represents an interest in, an underlying index or reference asset that includes an NMS Stock listed on the Exchange; (2) delete certain redundant listing rules that would be superseded by these initial and continued listing and trading requirements for the listing of ETPs; and (3) make changes to its unlisted trading privileges rule, Rule 5.1(a)(2), as well as certain supplementary changes throughout Rules 5P and 8P to conform to the rules of the Exchange's affiliate, NYSE National, Inc. The proposed rule change was published for comment in the Federal Register on July 6, 2018.^[4] The Commission has received no comment letters on the proposed rule change.

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 20, 2018. The Commission is extending this 45-day time period.

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 4, 2018, as the date by which the Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change (File Number SR-NYSE-2018-30).

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.^[7]

Eduardo A. Aleman,

Assistant Secretary.

Footnotes

1.  15 U.S.C. 78s(b)(1).

2.  17 CFR 240.19b-4.

3.  NMS Stock is defined in Rule 600 of Regulation NMS, 17 CFR 242.600(b)(47).

4.  See Securities Exchange Act Release No. 83560 (June 29, 2018), 83 FR 31585.

5.  15 U.S.C. 78s(b)(2).

6.  Id.

7.  17 CFR 200.30-3(a)(31).