Federal Register - January 4, 2021
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Source: Federal Register
Federal Register / Vol. 86, No. 1 / Monday, January 4, 2021 / Notices Session. In addition, as stated in the Prior Order, the Exchange, the Index Calculation Agent or a third party financial data provider will calculate an IIV for the Shares every fifteen seconds during the Exchanges Core Trading Session, which will be available from one or more major market data vendors.
The Sponsor represents that both the cash and Physical Gold weights for the Index are posted on the Trusts website on the first Business Day after the rebalance date, which is the last Business Day of each month.
The Sponsor represents that the proposed change described above will not impact investors. Except for the change noted above, all other representations made in the Prior Order remain unchanged.
B. Self-Regulatory Organizations 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 purpose of the Act and will enhance competition among issues of gold-based Commodity-Based Trust Shares.
C. Self-Regulatory Organizations 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 The Exchange has filed the proposed rule change pursuant to Section 19b3Aiii of the Act 17 and Rule 19b4f6 thereunder.18 Because the proposed rule change does not: i Significantly affect the protection of investors or the public interest; ii impose any significant burden on competition; and iii become operative prior to 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19b3A
of the Act and Rule 19b4f6iii thereunder.
A proposed rule change filed under Rule 19b4f6 19 normally does not become operative prior to 30 days after the date of the filing. However, pursuant 17 15
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U.S.C. 78sb3Aiii.
CFR 240.19b4f6.
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to Rule 19b4f6iii,20 the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange states that the proposed change would not alter any information that is provided to investors during the Exchanges Core Trading Session and that investors and APs will have sufficient information to determine whether Shares are trading at a premium or discount to the Trusts NAV
during the Exchanges Late Trading Session. In addition, the Exchange represents that other than the change discussed herein, all other representations made in the Prior Order remain unchanged. Finally, the change would not affect the Trusts requirement to provide investors with an updated Index value each day. For these reasons, the proposed rule change does not raise any novel regulatory issues, and the Commission believes waiver of the 30day operative delay is consistent with the protection of investors and the public interest. The Commission therefore waives the 30-day operative delay and designates the proposed rule change to be operative upon filing.21
At any time within 60 days of the filing of such 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.
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 Commissions internet comment form http www.sec.gov/
rules/sro.shtml; or Send an email to rule-comments@
sec.gov. Please include File Number SR
NYSEArca2020114 on the subject line.
CFR 240.19b4f6iii.
purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rules impact on efficiency, competition, and capital formation. See 15 U.S.C. 78cf.
Paper Comments Send paper comments in triplicate to: Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 205491090.
All submissions should refer to File Number SRNYSEArca2020114. 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 Commissions internet website 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 website viewing and printing in the Commissions 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 also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change.
Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SRNYSEArca2020114 and should be submitted on or before January 25, 2021.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.22
J. Matthew DeLesDernier, Assistant Secretary.
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