October 2, 2012.
On April 27, 2012, 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”) 
and Rule 19b-4 thereunder,
a proposed rule change to create and implement, on a pilot basis, a Lead Market Maker (“LMM”) Issuer Incentive Program (“Fixed Incentive Program”) for issuers of certain exchange-traded products (“ETPs”) listed on the Exchange. The proposed rule change was published for comment in the Federal Register on May 17, 2012.
The Commission initially received two comment letters on the proposal.
On June 20, 2012, pursuant to Section 19(b)(2) of the Act,
the Commission extended the time period for Commission action on the proposed rule change to August 15, 2012.
The Commission subsequently received one additional comment letter on the NYSE Arca Proposal.
On July 11, 2012, the Commission instituted proceedings to determine whether to approve or disapprove the proposed rule change.
The Commission thereafter received six comment letters and a response letter from the Exchange.
Section 19(b)(2) of the Act 
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 proposed rule change was published for notice and comment in the Federal Register on May 17, 2012. November 13, 2012 is 180 days from that date, and January 12, 2013 is 240 days from that date.
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, the issues raised in the comment letters that have been submitted in response to the proposed rule change, including comment letters submitted in response to the Order Instituting Proceedings, and the Exchange's responses to such comments.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,
designates January 12, 2013 as the date by which the Commission should either approve or disapprove the proposed rule change (File Number SR-NYSEArca-2012-37).
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.
Kevin M. O'Neill,
[FR Doc. 2012-24734 Filed 10-5-12; 8:45 am]
BILLING CODE 8011-01-P