[Federal Register Volume 82, Number 13 (Monday, January 23, 2017)]
[Notices]
[Pages 7891-7898]
[FR Doc No: 2017-01296]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79792; File No. SR-NYSEARCA-2016-176]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
of Proposed Rule Change Relating to the Listing and Trading of Shares
of the EtherIndex Ether Trust Under NYSE Arca Equities Rule 8.201

January 13, 2017.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on December 30, 2016, NYSE Arca, Inc. (the ``Exchange'' or
``NYSE Arca'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and II
below, which Items have been prepared by the Exchange. The Commission
is publishing this notice to solicit comments on the proposed rule
change from interested persons.
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    \1\ 15 U.S.C.78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to list and trade shares of the following
under NYSE Arca Equities Rule 8.201: EtherIndex Ether Trust
(``Trust''). The proposed rule change is available on the Exchange's
Web site at www.nyse.com, at the principal office of the Exchange, and
at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    Under NYSE Arca Equities Rule 8.201, the Exchange may propose to
list and/or trade pursuant to unlisted trading privileges (``UTP'')
``Commodity-Based Trust Shares.'' \4\ The Exchange proposes to list and
trade shares (``Shares'') of the Trust pursuant to NYSE Arca Equities
Rule 8.201.\5\
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    \4\ Commodity-Based Trust Shares are securities issued by a
trust that represent investors' discrete identifiable and undivided
beneficial ownership interest in the commodities deposited into the
Trust.
    \5\ On November 28, 2016, the Trust filed an amended
registration statement (``Registration Statement'') on Form S-1
under the Securities Act of 1933 (15 U.S.C. 77a) (File No. 333-
212533). The descriptions of the Trust, the Shares and ether
contained herein are based, in part, on the Registration Statement.
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    The sponsor of the Trust is EtherIndex LLC (``Sponsor''), a
Delaware limited liability company. Delaware Trust Company is the
trustee of the Trust (``Trustee''). The Bank of New York Mellon will be
the administrator (``Administrator'') and custodian of cash of the
Trust (``Cash Custodian''). Coinbase will be the custodian of the ether
of the Trust (``Ether Custodian'').
    According to the Registration Statement, each Share will represent
a unit of fractional undivided beneficial interest in and ownership of
the Trust. The activities of the Trust will be limited to (i) issuing
``Baskets'' (as described below) to ``Authorized Participants'' (as
described below) in exchange for the cash or, in the Sponsor's
discretion, ether (as described below), (ii) selling ether or
transferring ether, at the Sponsor's discretion, as necessary to cover
the Sponsor's fee and as necessary to pay Trust expenses not assumed by
the Sponsor and other liabilities, (iii) selling or transferring ether
in exchange for Baskets surrendered for redemption by the Authorized
Participants, (iv) causing the Administrator to sell ether on the
termination of the Trust and (v) engaging in all administrative and
custodial procedures necessary to accomplish such activities in
accordance with the provisions of relevant agreements.
    According to the Registration Statement, the Trust is neither an
investment company registered under the Investment Company Act of 1940,
as amended,\6\ nor a commodity pool for purposes of the Commodity
Exchange Act (``CEA''),\7\ and neither the Sponsor nor the Trustee is
subject to regulation as a commodity pool operator or a commodity
trading adviser in connection with the operation of the Trust.
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    \6\ 15 U.S.C. 80a-1.
    \7\ 17 U.S.C. 1.
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Investment Objective
    According to the Registration Statement and as further described
below, the Trust's purpose will be to provide shareholders with
exposure to the daily change in the U.S. dollar price of ether, before
expenses and liabilities of the Trust, as measured by the price of
ether in U.S. dollars as reported by the Global Digital Asset Exchange
(``GDAX'') as of 4:00 p.m., Eastern Time (``E.T.''), each day (``GDAX
Price'').
    The Trust will not be actively managed. It will not engage in any
activities designed to obtain a profit from, or to ameliorate losses
caused by, changes in the market prices of ether.
Ether and the Ethereum Network
    According to the Registration Statement, ether is a digital asset
similar to bitcoin. It is not issued by any government, bank or central
organization but rather is issued by, and transmitted through, the
decentralized, open source protocol of the peer-to-peer Ethereum
computer network (``Ethereum Network''). The Ethereum Network is a
decentralized network of computers that run applications on a custom
built ``blockchain'' (``Ethereum Blockchain'') that enables developers
to create markets, store registries of debts or promises, represent the
ownership of property and move funds in accordance with instructions
given in the past, all without the involvement of an intermediary or
counterparty. The Ethereum Blockchain is a decentralized public
transaction ledger hosted on the Ethereum Network on which all ether is
recorded; the blockchain records ether balances and every ether address
associated with a quantity of ether (see ``Ethereum Blockchain''
below). No single entity owns or operates the Ethereum Network.
    According to the Registration Statement, unlike bitcoin, ether was
not designed to function purely as a store of value. Instead, ether was
meant to pay for specific actions on the Ethereum Network. However,
ether's market is

currently supported by many of the same online exchanges and the same
infrastructure that has developed around the bitcoin network. Users who
have historically purchased bitcoin on online exchange platforms can
now buy ether on these Web sites. Ether can be converted to fiat
currencies, such as the U.S. dollar, or to bitcoin, at rates determined
on ether exchanges or in individual end-user-to-end-user transactions
under a barter system. Each ether transaction is broadcast to the
Ethereum Network and recorded in the Ethereum Blockchain.
    According to the Registration Statement, unlike bitcoin, which has
a fixed limit of 21,000,000 bitcoin, no limit has been established on
the total supply of ether. The initial creation of ether was in
connection with a crowd funding transaction in 2014 in which 60,000,000
ether were pre-sold. Another 12,000,000 ether were created for the
benefit of a development fund. All additional ether have been and will
be created through the ``mining'' process (see ``Ether Blockchain''
below). According to the terms of the 2014 presale, the issuance of
ether from mining is capped at 18,000,000 ether per year. According to
the Registration Statement, it has been reported that approximately
9,700,000 million ether have been created to date through the mining
process.
Ethereum Blockchain
    According to the Registration Statement, the Ethereum Blockchain is
a record of every ether transaction (including the creation or
``mining'' of new ether) and every Ethereum Network public address
associated with a quantity of ether. A beta version of the live
blockchain was publicly launched in July 2015, and the initial
production version was launched in March 2016.
    The Ethereum Blockchain is comprised of a digital file, downloaded
and stored, in whole or in part, on all Ethereum Network users'
software programs. The Ethereum Network software can interpret the
Ethereum Blockchain to determine the exact ether balance, if any, of
any public ether address listed in the Ethereum Blockchain which has
taken part in a transaction on the Ethereum Network.
    Mining is the act of using a computer to run computations designed
to help build the next block in the Ethereum Blockchain. As a computer
solves a complex computational calculation related to the building of a
block, its owner is rewarded with ether.\8\ The Ethereum Blockchain
includes all blocks that have been solved by miners and is updated to
include new blocks as they are solved. As each newly solved block
refers back to and connects with the immediately prior solved block,
the addition of a new block adds to the Ethereum Blockchain in a manner
similar to a new link being added to a chain. Each new block records
outstanding ether transactions, and outstanding transactions are
settled and validated through such recording. Therefore, the Ethereum
Blockchain represents a complete, transparent and unbroken history of
all transactions of the Ethereum Network.
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    \8\ Attached as Exhibit 3, Item 1 is a chart illustrating the
supply growth of ether during the period October 2015 through
October 2016.
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    According to the Registration Statement, in June 2016, the DAO, a
decentralized autonomous organization using the Ethereum Network, was
hacked, resulting in a loss to that organization of approximately 3.6
million ether. In response to this loss, the Ethereum community agreed
to create a new ``hard fork'' on the Ethereum Blockchain which returned
the lost ether to the DAO. A hard fork is a change to the underlying
Ethereum protocol, which creates new rules for the Ethereum system; all
Ethereum clients needed to upgrade, otherwise they would remain on the
old blockchain. In creating the hard fork, the intent was to have all
users of the Ethereum Network migrate to the new fork, rendering the
ether on the old blockchain held by the DAO hacker useless. However, a
number of users have continued to develop the old blockchain, now
referred to as ``Ethereum Classic,'' resulting in a separate version of
ether referred to as ``ether classic.'' Ether classic is now traded on
several crypto currency exchanges. The Shares will provide shareholders
with exposure to the daily change in the U.S. dollar price of ether,
before expenses and liabilities of the Trust, as measured by the GDAX
Price and not the price of ether classic.
Uses of Ether Blockchain
    According to the Registration Statement, the Ethereum Blockchain is
a general-purpose, global blockchain that can govern both financial and
non-financial types of application states. Ether can be used to pay for
goods and services or can be converted to fiat currencies, such as the
U.S. dollar, at rates determined on ether exchanges (``Ether
Exchange'') \9\ or in individual end-user-to-end-user transactions
under a barter system.\10\ An ether private key controls the transfer
or ``spending'' of ether from its associated public ether address. An
ether ``wallet'' is a collection of private keys and their associated
public ether addresses.
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    \9\ An Ether Exchange is an online marketplace with a central
limit order book, where market participants may buy, sell and trade
ether. The largest Ether Exchanges are typically open on a 24-hour
per day, seven-days per week basis, and publish public market data
such as transaction price and volume data. Examples of Ether
Exchanges are: (i) Coinbase, a digital currency wallet and platform
based in San Francisco where merchants and consumers can transact
with certain digital currencies; (ii) Kraken, an online exchange
based in San Francisco; (iii) Bitfinex, an online exchange founded
in Hong Kong; and (iv) Gemini, a New York-based online exchange that
has obtained a BitLicense from the New York Department of Financial
Services.
    \10\ Attached as Exhibit 3, Item 2 is a chart setting forth a
summary of the daily number of ether transactions (i.e., transfers
of ether between parties on the Ethereum Network, which is different
than and should not be confused with ether exchange-traded volume)
from October 2015 through October 2016.
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    According to the Registration Statement, while the bitcoin network
permits users primarily to execute value transfers, the Ethereum
Network allows users to program any arbitrary code and execute it,
including value transfers. Accordingly, the Ethereum Network may be
viewed as a global, decentralized computer in comparison to the bitcoin
network, which is more similar to a global, decentralized payment
network. In addition to value transfers, the Ethereum Network enables
decentralized business logic, known as ``smart contracts.'' A smart
contract is a collection of code (its functions) and data (its state)
that resides at a specific address on the Ethereum Blockchain. Smart
contracts can interact with other contracts, make decisions, store data
and send ether to others. Smart contracts are capable of automatically
enforcing the terms of a given agreement among a number of parties.
This code can define strict rules and consequences in the same way that
a traditional legal document would, stating the obligations, benefits
and penalties which may be due to either party in various different
circumstances. But, unlike a traditional contract, it can also take
information as an input, process that information through the rules set
out in the contract and take any actions required of it as a result.
Custody of the Trust's Ether
    According to the Registration Statement, the private keys that
control the Trust's ether will be secured by the Ether Custodian and
stored completely offline in a ``cold storage'' system. The Ether
Custodian's cold storage system is founded on the principles of (i)
building

defense-in-depth against external threats, (ii) protecting against
human error and (iii) guarding against misuse of insider access. The
Ether Custodian's cold storage mechanism involves generating private
keys on an ``air-gapped'' computer, i.e., a computer that has never
been connected to the internet, then splitting these keys into segments
using a special algorithm to ensure no one individual knows how the key
was fragmented, and finally distributing these fragments geographically
so no one entity can access the cold storage without the other
individuals contributing their fragment of the key. The Ether Custodian
maintains insurance against theft and electronic compromise in an
amount that exceeds the average value of ether and bitcoin that it
holds online at any one time.
    The Ether Custodian will maintain approximately three times the
average of the expected creation and redemption Baskets in ether at all
times in a ``hot wallet,'' which is connected to the internet, in order
to provide fast access to withdrawal when needed. The average ether
amount to be held in the hot wallet will initially be determined by the
Sponsor and Authorized Participants. The Sponsor may direct the Ether
Custodian to transfer ether from the cold storage system to the hot
wallet if additional ether is required for creation and redemption
Baskets. It is anticipated that less than five percent of the Trust's
ether will be held in the hot wallet. The Ether Custodian will maintain
the Trust's remaining ether in its cold storage system and will hold
the Trust's ether in the Trust's ether custody account. The Ether
Custodian will segregate the Trust's ether which will be held in unique
Ethereum Network public addresses with balances that can be directly
verified on the Ethereum Blockchain.
    According to the Registration Statement, each Custodian will
accept, on behalf of the Trust, cash or the delivery of ether from
Authorized Participants into the Trust's custody accounts creation
orders. In order for an Authorized Participant to redeem a Basket and
receive cash or a distribution of ether from the Trust, the Custodians,
upon receiving instructions from the Administrator, will sign
transactions necessary to transfer ether out of the Trust's ether
custody account for sale or to distribute the ether to the Ethereum
Network public address specified by the Authorized Participant.
    According to the Registration Statement, the Sponsor will engage an
independent audit firm to periodically audit the Ether Custodian's
storage of private keys and its internal controls and report to the
Sponsor at least annually on such matters. Additionally, the Sponsor
will engage an independent audit firm to biannually verify that the
Ether Custodian can demonstrate ``proof of control'' of the private
keys that control the Trust's ether. One such ``proof of control''
audit will be conducted at the end of each calendar year and the other
at random.
Ether Market Price
    According to the Registration Statement, the value of ether is
determined by the value that various market participants place on ether
through their transactions. The most common means of determining the
value of ether is by surveying one or more Ether Exchanges where ether
is traded publicly and transparently (e.g., GDAX, Poloniex or
Kraken).\11\ On each online Ether Exchange, ether is traded with
publicly disclosed valuations for each executed trade, measured by one
or more fiat currencies such as the U.S. dollar or euro or by the
widely used digital asset bitcoin.
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    \11\ Attached as Exhibit 3, Item 3 is a chart comparing the
ether price on Coinbase, Kraken, Gemini, Poloniex, Cexlo and
Bitfinex during the period May 27, 2016 through October 21, 2016.
Attached as Exhibit 3, Item 4 is a chart comparing the ether price,
in 15 minute intervals, on Coinbase, Kraken and Bitfinex during the
period of November 21, 2016 and into November 22, 2016.
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    According to the Trust, since its initial trading, ether has
experienced one-day (i.e., the greatest one-day change in ether price
experienced on any trading day), one-month (i.e., the greatest change
in ether price experienced during any calendar month), one-year (i.e.,
the greatest change in ether price experienced during any calendar
year) and since-inception \12\ changes of 67.5% (or $2.93), 214.8% (or
$2.04), 2,748.5% (or $20.56) and 32,416% (or $21.33), respectively. All
changes listed represent increases in the price of ether.\13\
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    \12\ For purposes of this data, the Trust has used August 8,
2015 as the inception date.
    \13\ Attached as Exhibit 3, Item 5 is a chart illustrating the
changes in the price of ether during the period September 2015 into
October 2016. Attached as Exhibit 3, Item 6 is a chart comparing
three-month volatility in the price of ether compared to three-month
volatility in the prices of bitcoin, gold, silver, WTI crude oil,
copper, natural gas, soybeans and coffee (``Comparison
Commodities'') during the period July 2016 through September 2016.
Attached as Exhibit 3, Item 7 is a chart comparing the six-month
volatility in the price of ether compared to the six-month
volatility in the prices of the Comparison Commodities during the
period April 2016 through September 2016. Attached as Exhibit 3,
Item 8 is a chart comparing the twelve-month volatility in the price
of ether compared to the twelve-month volatility in the prices of
the Comparison Commodities during the period October 2016 through
September 2016.
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The Trust
    According to the Registration Statement, the Trust's assets will
consist of ether. The Trust will occasionally hold cash for short
periods in connection with the creation and redemption process, and to
pay certain fees, expenses and liabilities. The ether held by the Ether
Custodian on behalf of the Trust will only be transferred out of the
Trust's ether custody account in the following circumstances: (i)
Transferred to pay the Sponsor's fee; (ii) transferred to be sold for
cash or distributed to Authorized Participants in connection with the
redemption of Baskets; (iii) transferred to the Trust's expense account
to be sold on an as-needed basis to pay Trust expenses not assumed by
the Sponsor; or (iv) sold on behalf of the Trust in the event the Trust
terminates and liquidates its assets or as otherwise required by law or
regulation.
    According to the Registration Statement, while the Sponsor will not
exercise day-to-day oversight over the Trust, the Sponsor will engage
the Administrator and the Custodians to assist in implementing the
creation and redemption process for the Trust. The Sponsor will assume
certain administrative and marketing expenses incurred by the Trust.
The Trust will pay the Sponsor a fee.
Net Asset Value
    On each business day, the Administrator will calculate the net
asset value (``NAV'') of the Trust as measured at 4:00 p.m., E.T.,
using the GDAX Price. The NAV of the Trust is the asset value of the
Trust less its liabilities (which include accrued but unpaid fees and
expenses) divided by the number of outstanding Shares as of 4:00 p.m.,
E.T., each business day.
    In the event that the GDAX Price is unavailable or the Sponsor
determines that the GDAX Price is not an appropriate basis for
evaluation of the Trust's ether, the Sponsor will instruct the
Administrator to use as an alternative basis for calculating the
Trust's NAV either (i) the price of ether in U.S. dollars as reported
by Kraken Bitcoin Exchange as measured at 4:00 p.m., E.T., on each
business day, (ii) if the Sponsor determines that the Kraken Bitcoin
Exchange price is not an appropriate basis for evaluation of the
Trust's ether, the price of ether in U.S. dollars as reported by the
Gemini Exchange as measured at the 4:00 p.m., E.T., on each business
day or (iii) if the Sponsor determines that the Kraken Bitcoin Exchange
and the Gemini

Exchange prices are not appropriate bases for evaluation of the Trust's
ether, the Sponsor's good faith estimate of the market price of ether.
Any determination that the GDAX Price or the price on the other
exchanges mentioned above is not an appropriate basis for calculating
the Trust's NAV would be based upon extraordinary criteria, such as a
disruption in the operation of the exchange, material reporting or
calculation inaccuracies by the exchange or a material decrease in
trading volume not experienced by other exchanges. In determining fair
market value for ether, the Sponsor may consider the market price for
ether on other Ether Exchanges or in other forums for which ether
prices are published publicly.
    The Sponsor will publish the Trust's NAV on the Trust's Web site as
soon as practicable after calculation by the Administrator. To the
extent that the NAV has been calculated using a price per ether other
than the GDAX Price for such business day, the publication on the
Trust's Web site will note the valuation methodology and the price per
ether resulting from such calculation.
    According to the Registration Statement, Authorized Participants,
or their clients or customers, may have an opportunity to realize a
riskless profit if they can create a Basket at a discount to the public
trading price of the Shares or can redeem a Basket at a premium over
the public trading price of the Shares. The Sponsor expects that the
exploitation of such arbitrage opportunities by Authorized Participants
and their clients and customers will tend to cause the public trading
price to track the NAV closely over time.
Creation and Redemption of Shares
    According to the Registration Statement, the Trust will issue and
redeem Baskets, each equal to a block of 10,000 Shares, principally in
exchange for the delivery to the Trust or the distribution by the Trust
of the amount of cash, or at the discretion of the Sponsor, ether
represented by the NAV of the Baskets being created or redeemed, the
amount of which will be based on the combined ether represented by the
number of Shares included in the Baskets being created or redeemed
determined on the day the order to create or redeem Baskets is properly
received. The Trust will issue and redeem Shares in Baskets to and from
Authorized Participants. The size of a Basket is subject to change.
    Orders to create and redeem Baskets may be placed only by
Authorized Participants.\14\ A transaction fee may be imposed to offset
transfer and other transaction costs associated with creation or
redemption.
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    \14\ An Authorized Participant must: (1) Be a registered broker-
dealer or other securities market participant, such as a bank or
other financial institution, which is not required to register as a
broker-dealer to engage in securities transactions and (2) be a
participant in Depository Trust Company (``DTC''). To become an
Authorized Participant, a person must enter into an ``Authorized
Participant Agreement'' with the Administrator and the Sponsor on
behalf of the Trust. The Authorized Participant Agreement provides
the procedures for the creation and redemption of Baskets as well as
the amount of ether required for delivery or distribution for such
creations and redemptions.
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Creation Procedures
    On any business day, an Authorized Participant may place an order
with the Transfer Agent to create one or more Baskets. Purchase orders
must be placed by 1:00 p.m., E.T. The day on which the Transfer Agent
receives a valid purchase order is the purchase order date. Purchase
orders are irrevocable.
    The total payment required to create each Basket is determined by
calculating the NAV of 10,000 Shares as of the closing time of the NYSE
Arca on the purchase order date. Baskets will be issued as of 9:30
a.m., E.T., on the business day immediately following the purchase
order date at the applicable NAV as of the closing time of NYSE Arca on
the purchase order date, but only if the required payment has been
timely received.
    Orders to purchase Baskets must be placed no later than 1:00 p.m.,
E.T., but the total payment required to create a Basket will not be
determined until 4:00 p.m., E.T., on the date the purchase order is
received. Authorized Participants therefore will not know the total
amount of the payment required to create a Basket at the time they
submit an irrevocable purchase order for the Basket.
    The payment required to create a Basket typically will be made in
cash, but it may also be made partially or wholly in-kind at the
discretion of the Sponsor if the Authorized Participant requests to
convey ether directly to the Trust. To the extent the Authorized
Participant places an in-kind order to create, the Authorized
Participant must deliver ether directly to the Ether Custodian and an
amount of cash (or ether) referred to as the Balancing Amount \15\ each
no later than 1:00 p.m., E.T., on the date the purchase order is
received. The amount of ether delivered by the Authorized Participant
must be in an amount equal to the number of ether necessary to create a
Basket as of 4:00 p.m., E.T., on the date the purchase order is
received. Upon delivery of the ether to the Ether Custodian and the
Balancing Amount to the Cash Custodian (or the ether component of the
Balancing Amount, if applicable, to the Ether Custodian), the
Administrator will cause the Trust to issue a Basket to the Authorized
Participant.
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    \15\ The Balancing Amount is an amount equal to the difference
between the NAV of the Shares (per Basket) and the ``Deposit
Amount,'' which is an amount equal to the market value of ether (per
Basket) which, for this purpose, is calculated in the same manner as
the Trust values ether. The Balancing Amount serves to compensate
for any difference between the NAV per Basket and the Deposit
Amount.
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    According to the Registration Statement, the Sponsor acting by
itself or through the Administrator may reject a creation order if: (i)
It is not in proper form; (ii) it is determined by the Sponsor not to
be in the best interest of the shareholders; (iii) the acceptance or
receipt of the creation order would have adverse tax consequences to
the Trust or shareholders; (iv) the acceptance or receipt of the
creation order would, in the opinion of counsel to the Sponsor, be
unlawful; (v) if circumstances outside the control of the Sponsor or
its designee make it, for all practical purposes, not feasible, as
determined by the Sponsor in its sole discretion, to process creations
of Baskets; or (vi) for any other reason set forth in the Authorized
Participant Agreement entered into with that Authorized Participant.
Redemption Procedures
    According to the Registration Statement, the procedures by which an
Authorized Participant can redeem one or more Baskets will mirror the
procedures for the creation of Baskets. On any business day, an
Authorized Participant may place an order with the Transfer Agent to
redeem one or more Baskets. Redemption orders must be placed no later
than 1:00 p.m., E.T. The day on which the Transfer Agent receives a
valid redemption order is the redemption order date. Redemption orders
are irrevocable. By placing a redemption order, an Authorized
Participant agrees to deliver the Baskets to be redeemed through DTC's
book-entry system to the Trust not later than 1:00 p.m., E.T., on the
business day immediately following the redemption order date.
    The redemption proceeds from the Trust consist of the ``cash
redemption amount'' and, if making an in-kind redemption, ether. The
cash redemption amount is equal to the NAV of the number of Baskets of
the Trust requested in the Authorized

Participant's redemption order as of the closing time of NYSE Arca on
the redemption order date. The Cash Custodian will distribute the cash
redemption amount at 4:00 p.m., E.T., on the business day immediately
following the redemption order date through DTC to the account of the
Authorized Participant as recorded on DTC's book-entry system. At the
discretion of the Sponsor and if the Authorized Participant requests to
receive ether directly, some or all of the redemption proceeds may be
distributed to the Authorized Participant in-kind.
    The redemption proceeds due from the Trust are delivered to the
Authorized Participant at 4:00 p.m., E.T., on the business day
immediately following the redemption order date if, by such time on
such business day immediately following the redemption order date, the
Trust's DTC account has been credited with the Baskets to be redeemed.
If the Trust's DTC account has not been credited with all of the
Baskets to be redeemed by such time, the redemption distribution will
be delivered to the extent of whole Baskets received. Any remainder of
the redemption distribution is delivered on the next business day to
the extent of remaining whole Baskets received if the Sponsor receives
the fee applicable to the extension of the redemption distribution date
which the Sponsor may, from time to time, determine and the remaining
Baskets to be redeemed are credited to the Trust's DTC account by 4:00
p.m., E.T., on such next business day. Any further outstanding amount
of the redemption order shall be cancelled.
    To the extent that Authorized Participant places an in-kind order
to redeem a Basket, the Ether Custodian will deliver, on the business
day immediately following the day the redemption order is received,
ether to the Authorized Participant in an amount equal to the number of
ether necessary to redeemed [sic] a Basket as of 4:00 p.m., E.T.
Availability of Information
    The Trust's Web site will provide an intra-day indicative value
(``IIV'') per Share updated every 15 seconds, as calculated by the
Exchange or a third party financial data provider during the Exchange's
Core Trading Session. The IIV will be calculated by using the prior
day's closing NAV per Share as a base and updating that value during
the NYSE Arca Core Trading Session to reflect changes in the value of
the Trust's ether holdings during the trading day.
    The IIV disseminated during the NYSE Arca Core Trading Session
should not be viewed as an actual real-time update of the NAV, which
will be calculated only once at the end of each trading day. The IIV
will be widely disseminated on a per Share basis every 15 seconds
during the NYSE Arca Core Trading Session by one or more major market
data vendors. In addition, the IIV will be available through on-line
information services.
    The Web site for the Trust, which will be publicly accessible at no
charge, will contain the following information: (a) The current NAV per
Share daily and the prior business day's NAV and the reported closing
price; (b) the mid-point of the bid-ask price \16\ in relation to the
NAV as of the time the NAV is calculated (``Bid-Ask Price'') and a
calculation of the premium or discount of such price against such NAV;
(c) data in chart form displaying the frequency distribution of
discounts and premiums of the Bid-Ask Price against the NAV, within
appropriate ranges for each of the four previous calendar quarters (or
for the life of the Trust, if shorter); (d) the prospectus; and (e)
other applicable quantitative information. The Trust will also
disseminate the Trust's holdings on a daily basis on the Trust's Web
site. The price of ether will be made available by one or more major
market data vendors, updated at least every 15 seconds during the
Exchange's Core Trading Session.
---------------------------------------------------------------------------

    \16\ The bid-ask price of the Trust is determined using the
highest bid and lowest offer on the Consolidated Tape as of the time
of calculation of the closing day NAV.
---------------------------------------------------------------------------

    The NAV for the Trust will be calculated by the Administrator once
a day and will be disseminated daily to all market participants at the
same time. In addition, ether prices are available from automated
quotation systems, published or other public sources or on-line
information services. Quotation and last-sale information regarding the
Shares will be disseminated through the facilities of the Consolidated
Tape Association (``CTA'').
    Quotation and last sale information for ether will be widely
disseminated through a variety of major market data vendors. The spot
price of ether is available on a 24-hour basis from major market data
vendors. Information relating to trading, including price and volume
information, in ether will be available from major market data vendors
and from the exchanges on which ether are traded. The normal trading
hours for ether exchanges are 24-hours per day, 365-days per year.
    The Trust will provide Web site disclosure of its ether holdings
daily. The Web site disclosure of the Trust's portfolio composition
will occur at the same time as the disclosure by the Sponsor of the
portfolio composition to Authorized Participants so that all market
participants are provided portfolio composition information at the same
time. Therefore, the same portfolio information will be provided on the
public Web site as well as in electronic files provided to Authorized
Participants. Accordingly, each investor will have access to the
current portfolio composition of the Trust through the Trust's Web
site.
Trading Rules
    The Trust will be subject to the criteria in NYSE Arca Equities
Rule 8.201, including 8.201(e), for initial and continued listing of
the Shares. A minimum of 100,000 Shares will be required to be
outstanding at the start of trading. With respect to application of
Rule 10A-3 under the Act, the Trust will rely on the exception
contained in Rule 10A-3(c)(7). The Exchange believes that the
anticipated minimum number of Shares outstanding at the start of
trading is sufficient to provide adequate market liquidity.
    The Exchange deems the Shares to be equity securities, thus
rendering trading in the Shares subject to the Exchange's existing
rules governing the trading of equity securities. Trading in the Shares
on the Exchange will occur in accordance with NYSE Arca Equities Rule
7.34(a). The Exchange has appropriate rules to facilitate transactions
in the Shares during all trading sessions. As provided in NYSE Arca
Equities Rule 7.6, the minimum price variation (``MPV'') for quoting
and entry of orders in equity securities traded on the NYSE Arca
Marketplace is $0.01, with the exception of securities that are priced
less than $1.00 for which the MPV for order entry is $0.0001.
    Further, NYSE Arca Equities Rule 8.201 sets forth certain
restrictions on Equity Trading Permit Holders (``ETP Holders'') acting
as registered Market Makers in the Shares to facilitate surveillance.
Pursuant to NYSE Arca Equities Rule 8.201(g), an ETP Holder acting as a
registered Market Maker in the Shares is required to provide the
Exchange with information relating to its trading in the underlying
ether. Commentary .04 of NYSE Arca Equities Rule 6.3 requires an ETP
Holder acting as a registered Market Maker, and its affiliates, in the
Shares to establish, maintain and enforce written policies and
procedures reasonably designed to prevent the misuse of any material,

nonpublic information with respect to such products, any components of
the related products, any physical asset or commodity underlying the
product, applicable currencies, underlying indexes, related futures or
options on futures and any related derivative instruments (including
the Shares).
    With respect to trading halts, the Exchange may consider all
relevant factors in exercising its discretion to halt or suspend
trading in the Shares. Trading on the Exchange in the Shares may be
halted because of market conditions or for reasons that, in the view of
the Exchange, make trading in the Shares inadvisable. In addition,
trading in Shares will be subject to trading halts caused by
extraordinary market volatility pursuant to the Exchange's ``circuit
breaker''rule.\17\
---------------------------------------------------------------------------

    \17\ See NYSE Arca Equities Rule 7.12.
---------------------------------------------------------------------------

    The Exchange will halt trading in the Shares if the NAV of the
Trust is not calculated or disseminated daily. The Exchange may halt
trading during the day in which an interruption occurs to the
dissemination of the IIV. If the interruption to the dissemination of
the IIV persists past the trading day in which it occurs, the Exchange
will halt trading no later than the beginning of the trading day
following the interruption. In addition, if the Exchange becomes aware
that the NAV with respect to the Shares is not disseminated to all
market participants at the same time, it will halt trading in the
Shares until such time as the NAV is available to all market
participants.
Surveillance
    The Exchange represents that trading in the Shares will be subject
to the existing trading surveillances administered by the Exchange, as
well as cross-market surveillances administered by the Financial
Industry Regulatory Authority (``FINRA'') on behalf of the Exchange,
which are designed to detect violations of Exchange rules and
applicable federal securities laws.\18\ The Exchange represents that
these procedures are adequate to properly monitor Exchange trading of
the Shares in all trading sessions and to deter and detect violations
of Exchange rules and federal securities laws applicable to trading on
the Exchange.
---------------------------------------------------------------------------

    \18\ FINRA conducts cross market surveillances on behalf of the
Exchange pursuant to a regulatory services agreement. The Exchange
is responsible for FINRA's performance under this regulatory
services agreement.
---------------------------------------------------------------------------

    The surveillances referred to above generally focus on detecting
securities trading outside their normal patterns, which could be
indicative of manipulative or other violative activity. When such
situations are detected, surveillance analysis follows and
investigations are opened, where appropriate, to review the behavior of
all relevant parties for all relevant trading violations.
    The Exchange or FINRA, on behalf of the Exchange, or both, will
communicate as needed regarding trading in the Shares with other
markets and other entities that are members of the Intermarket
Surveillance Group (``ISG''), and the Exchange or FINRA, on behalf of
the Exchange, or both, may obtain trading information regarding trading
in the Shares from such markets and other entities. In addition, the
Exchange may obtain information regarding trading in the Shares from
markets and other entities that are members of ISG or with which the
Exchange has in place a comprehensive surveillance sharing agreement
(``CSSA'').\19\
---------------------------------------------------------------------------

    \19\ For the list of current members of ISG, see https://www.isgportal.org/home.html.
---------------------------------------------------------------------------

    Also, pursuant to NYSE Arca Equities Rule 8.201(g), the Exchange is
able to obtain information regarding trading in the Shares and the
underlying ether through ETP Holders acting as registered Market
Makers, in connection with such ETP Holders' proprietary or customer
trades through ETP Holders which they effect on any relevant market.
    The Exchange also has a general policy prohibiting the distribution
of material, non-public information by its employees.
    All statements and representations made in this filing regarding
(i) the description of the portfolio and (ii) limitations on portfolio
holdings or reference assets shall constitute continued listing
requirements for listing the Shares on the Exchange. The issuer has
represented to the Exchange that it will advise the Exchange of any
failure by the Fund to comply with the continued listing requirements,
and, pursuant to its obligations under Section 19(g)(1) of the Act, the
Exchange will monitor for compliance with the continued listing
requirements. If the Fund is not in compliance with the applicable
listing requirements, the Exchange will commence delisting procedures
under NYSE Arca Equities Rule 5.5(m).
Information Bulletin
    Prior to the commencement of trading, the Exchange will inform its
ETP Holders in an ``Information Bulletin'' of the special
characteristics and risks associated with trading the Shares.
Specifically, the Information Bulletin will discuss the following: (1)
The procedures for purchases and redemptions of Shares in Baskets
(including noting that the Shares are not individually redeemable); (2)
NYSE Arca Equities Rule 9.2(a), which imposes a duty of due diligence
on its ETP Holders to learn the essential facts relating to every
customer prior to trading the Shares; (3) how [sic] information
regarding how GDAX Price and the IIV are disseminated; (4) the
requirement that ETP Holders deliver a prospectus to investors
purchasing newly issued Shares prior to or concurrently with the
confirmation of a transaction; (5) the possibility that trading spreads
and the resulting premium or discount on the Shares may widen during
the Opening and Late Trading Sessions, when an updated IIV will not be
calculated or publicly disseminated; and (6) trading information.
    In addition, the Information Bulletin will reference that the Trust
is subject to various fees and expenses as described in the
Registration Statement. The Information Bulletin will disclose that
information about the Shares of the Trust is publicly available on the
Trust's Web site.
    The Information Bulletin will also discuss any relief, if granted,
by the Commission or the staff from any rules under the Act.
2. Statutory Basis
    The basis under the Act for this proposed rule change is the
requirement under Section 6(b)(5) \20\ that an exchange have rules that
are designed to prevent fraudulent and manipulative acts and practices,
to promote just and equitable principles of trade, to remove
impediments to, and perfect the mechanism of a free and open market
and, in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \20\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change is designed to
prevent fraudulent and manipulative acts and practices in that the
Shares will be listed and traded on the Exchange pursuant to the
initial and continued listing criteria in NYSE Arca Equities Rule
8.201. The Exchange has in place surveillance procedures that are
adequate to properly monitor trading in the Shares in all trading
sessions and to deter and detect violations of Exchange rules and
applicable federal securities laws. The Exchange or FINRA, on behalf of
the Exchange, or both, will communicate as needed regarding trading in
the Shares with other markets

that are members of the ISG, and the Exchange or FINRA, on behalf of
the Exchange, or both, may obtain trading information regarding trading
in the Shares from such markets. In addition, the Exchange may obtain
information regarding trading in the Shares from markets that are
members of ISG or with which the Exchange has in place a CSSA. Also,
pursuant to NYSE Arca Equities Rule 8.201(g), the Exchange is able to
obtain information regarding trading in the Shares and the underlying
ether through ETP Holders acting as registered Market Makers, in
connection with such ETP Holders' proprietary or customer trades
through ETP Holders which they effect on any relevant market.
    The proposed rule change is designed to promote just and equitable
principles of trade and to protect investors and the public interest in
that there is a considerable amount of ether price and ether market
information available on public Web sites and through professional and
subscription services. Investors may obtain on a 24-hour basis ether
pricing information based on the spot price for ether from various
financial information service providers. The closing price and
settlement prices of ether are readily available from the Ether
Exchanges and other publicly available Web sites. In addition, such
prices are published in public sources or on-line information services.
The Trust will provide Web site disclosure of its ether holdings daily.
    Quotation and last-sale information regarding the Shares will be
disseminated through the facilities of the CTA. The IIV will be widely
disseminated on a per Share basis every 15 seconds during the NYSE Arca
Core Trading Session by one or more major market data vendors. In
addition, the IIV will be available through on-line information
services. The Exchange represents that the Exchange may halt trading
during the day in which an interruption to the dissemination of the IIV
occurs. If the interruption to the dissemination of the IIV persists
past the trading day in which it occurred, the Exchange will halt
trading no later than the beginning of the trading day following the
interruption. In addition, if the Exchange becomes aware that the NAV
with respect to the Shares is not disseminated to all market
participants at the same time, it will halt trading in the Shares until
such time as the NAV is available to all market participants. The NAV
per Share will be calculated daily and made available to all market
participants at the same time. One or more major market data vendors
will disseminate for the Trust on a daily basis information with
respect to the recent NAV per Share and Shares outstanding.
    The proposed rule change is designed to perfect the mechanism of a
free and open market and, in general, to protect investors and the
public interest in that it will facilitate the listing and trading of
an additional type of exchange-traded product that will enhance
competition among market participants, to the benefit of investors and
the marketplace. As noted above, the Exchange has in place surveillance
procedures relating to trading in the Shares and may obtain information
via ISG from other exchanges that are members of ISG or with which the
Exchange has entered into a CSSA. In addition, as noted above,
investors will have ready access to information regarding the Trust's
ether holdings, IIV and quotation and last sale information for the
Shares.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The Exchange notes that the
proposed rule change will facilitate the listing and trading of an
additional type of exchange-traded product, and the first such product
based on ether, which will enhance competition among market
participants, to the benefit of investors and the marketplace.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received with respect to the
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
(a) By order approve or disapprove such proposed rule change; or (b)
institute proceedings to determine whether the proposed rule change
should be disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSEARCA-2016-176 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSEARCA-2016-176. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing will also be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSEARCA-2016-176 and should
be submitted on or before February 13, 2017.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\21\
---------------------------------------------------------------------------

    \21\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-01296 Filed 1-19-17; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 75, Number 241 (Thursday, December 16, 2010)]
[Notices]
[Pages 78789-78790]
[FR Doc No: 2010-31633]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-63523; File No. SR-NASDAQ-2010-165]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Change Implementation Date for Direct Access Fees

December 10, 2010.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on December 9, 2010, The NASDAQ Stock Market LLC (``NASDAQ'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    NASDAQ proposes a rule change to assess ``direct access'' fees on
customers receiving NASDAQ data within NASDAQ's co-location facility
beginning on January 1, 2011, rather than December 1, 2010. Direct
access fees applicable to such customers were Noticed [sic] in SR-
NASDAQ-2010-152,\3\ immediately effective as of the filing on November
24, 2010, with an implementation date of December 1, 2010. In order to
assure complete and clear prior notification to all affected customers,
the Exchange is changing the implementation date of the fee schedule
change to January 1, 2011.
---------------------------------------------------------------------------

    \3\ Securities Exchange Act Release No. 63441 (December 6, 2010)
(SR-NASDAQ-2010-152).
---------------------------------------------------------------------------

    This change does not require a change in the language of the rule
itself.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, NASDAQ included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. NASDAQ has prepared summaries, set

forth in Sections A, B, and C below, of the most significant aspects of
such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    In SR-NASDAQ-2010-152,\4\ the Exchange amended its fee schedule to
correct an anomaly that effectively exempted certain customers residing
within NASDAQ's co-location facility from paying a monthly fee for
direct access to NASDAQ data, while customers that receive data from an
extranet and reside outside the co-location facility are assessed the
fee. The inequity was a result of the definition of ``direct access''
in the fee schedule, which did not by its terms clearly apply to data
feeds provided to customers through distributors located within the co-
located facility. That rule filing expanded the definition of ``direct
access'' and operated to assess the same direct access fee on all firms
that have access to NASDAQ's raw data feeds, whether co-located or not.
---------------------------------------------------------------------------

    \4\ Id.
---------------------------------------------------------------------------

    The Notice of Filing and Immediate Effectiveness for this fee
contained an implementation date of December 1, 2010. The effort to
identify and notify all customers potentially affected by this rule
change, however, has proven more time-consuming than expected. To
assure that all customers that will be assessed the direct access fee
have adequate prior notification, the Exchange is delaying
implementation of the fee until January 1, 2011. None of the co-located
customers that would have been newly subject to the direct access fee
during December 2010 as a result of the fee amendment in SR-NASDAQ-
2010-152 will be charged this fee during December 2010.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\5\ in general, and with
Sections 6(b)(5) of the Act,\6\ in particular. The proposal is designed
to prevent fraudulent and manipulative acts and practices, to promote
just and equitable principles of trade, to foster cooperation and
coordination with persons engaged in regulating, clearing, settling,
processing information with respect to, and facilitating transactions
in securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system, and, in general, to
protect investors and the public interest. The filing ensures clear and
complete prior notification to customers affected by a fee change that
permits transparent, uniform fees for direct access to Exchange data
for all customers, whether co-located or not.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f.
    \6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In addition, the Exchange believes that the proposed rule change is
consistent with the provisions of Section 6 of the Act,\7\ in general,
and with Section 6(b)(4) of the Act,\8\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees and
other charges among members and issuers and other persons using any
facility or system which The [sic] Exchange operates or controls. The
Exchange notes that delayed implementation of the amendment will best
serve the interests of customers affected by the fee change.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f.
    \8\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    NASDAQ does not believe that the proposed rule change will result
in any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act, as amended.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    Written comments were neither solicited nor received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\9\ At any time within 60 days of the filing
of the proposed rule change, the Commission summarily may temporarily
suspend such rule change if it appears to the Commission that such
action is necessary or appropriate in the public interest, for the
protection of investors, or otherwise in furtherance of the purposes of
the Act. If the Commission takes such action, the Commission shall
institute proceedings to determine whether the proposed rule should be
approved or disapproved.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(a)(ii).
---------------------------------------------------------------------------

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form  http://www.sec.gov/rules/sro.shtml; or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NASDAQ-2010-165 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NASDAQ-2010-165. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for Web site
viewing and printing in the Commission's Public Reference Room, 100 F
Street, NE., Washington, DC 20549, on official business days between
the hours of 10 a.m. and 3 p.m. Copies of such filing also will be
available for inspection and copying at the principal office of the
Exchange. All comments received will be posted without change; the
Commission does not edit personal identifying information from
submissions. You should submit only information that you wish to make
available publicly. All submissions should refer to File Number SR-
NASDAQ-2010-165 and should be submitted on or before January 6, 2011.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-31633 Filed 12-15-10; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 156 (Thursday, August 13, 2015)]
[Notices]
[Page 48516]
[FR Doc No: 2015-19885]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following electric
corporate filings:
    Docket Numbers: EC15-183-000.
    Applicants: Allegheny Ridge Wind Farm, LLC, Aragonne Wind LLC, Blue
Canyon Windpower LLC, Buena Vista Energy LLC, Caprock Wind LLC, Cedar
Creek Wind Energy, LLC, Crescent Ridge LLC, Eurus Combine Hills I LLC,
GSG, LLC, Kumeyaay Wind LLC, Mendota Hills, LLC.
    Description: Application for Authorization for Disposition of
Jurisdictional Facilities and Request for Expedited Action of Allegheny
Ridge Wind Farm, LLC, et al.
    Filed Date: 8/6/15.
    Accession Number: 20150806-5027.
    Comments Due: 5 p.m. ET 8/27/15.

    Take notice that the Commission received the following exempt
wholesale generator filings:
    Docket Numbers: EG15-111-000.
    Applicants: Chapman Ranch Wind I, LLC.
    Description: Notice of Self-Certification of Exempt Wholesale
Generator Status of Chapman Ranch Wind I, LLC.
    Filed Date: 8/5/15.
    Accession Number: 20150805-5140.
    Comments Due: 5 p.m. ET 8/26/15.

    Take notice that the Commission received the following electric
rate filings:
    Docket Numbers: ER15-1721-000.
    Applicants: energy.me midwest llc.
    Description: Response to July 14, 2015 Commission Letter requesting
additional information of energy.me midwest llc.
    Filed Date: 8/5/15.
    Accession Number: 20150805-5169.
    Comments Due: 5 p.m. ET 8/19/15.

    Docket Numbers: ER15-2386-000.
    Applicants: PJM Interconnection, L.L.C., Virginia Electric and
Power Company.
    Description: Section 205(d) Rate Filing: Virginia Electric and
Power submits revisions to OATT Attachment H16-C to be effective 6/15/
2015.
    Filed Date: 8/5/15.
    Accession Number: 20150805-5142.
    Comments Due: 5 p.m. ET 8/26/15.

    Docket Numbers: ER15-2387-000.
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Section 205(d) Rate Filing: 2015-08-06_SA 2524 ITC
Transmission-DTE Electric 3rd Rev. GIA (J235/J354) to be effective 8/7/
2015.
    Filed Date: 8/6/15.
    Accession Number: 20150806-5097.
    Comments Due: 5 p.m. ET 8/27/15.

    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: August 6, 2015.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2015-19885 Filed 8-12-15; 8:45 am]
BILLING CODE 6717-01-P