Securities (the Funds ) Direxion Daily Communication Services Index Bull 3X Shares Direxion Daily Communication Services Index Bear 3X Shares
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- Edmund Camron Perry
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1 Cboe BZX Exchange, Inc. Information Circular Cboe BYX Exchange, Inc. Information Circular Cboe EDGA Exchange, Inc. Information Circular Cboe EDGX Exchange, Inc. Information Circular Date: January 22, 2019 Re: Direxion Shares ETF Trust Pursuant to the Rules of Cboe BZX Exchange, Inc., Cboe BYX Exchange, Inc., Cboe EDGA Exchange, Inc. and Cboe EDGX Exchange, Inc. (together referred to hereafter as the Exchanges ), this Information Circular is being issued to advise you that the following securities have been approved for trading pursuant to unlisted trading privileges ( UTP ) on the Exchanges as UTP Derivative Securities pursuant to Chapter XIV of the Exchanges Rules. Securities (the Funds ) Direxion Daily Communication Services Index Bull 3X Shares Direxion Daily Communication Services Index Bear 3X Shares Symbol TAWK MUTE Commencement of Trading on the Exchanges: January 23, 2019 Issuer/Trust: Direxion Shares ETF Trust Issuer/Trust Website: Primary Listing Exchange: NYSE Arca Compliance and supervisory personnel should note that, among other things, this Information Circular discusses the need to deliver a prospectus to customers purchasing shares of the Funds ( Shares ) issued by Direxion Shares ETF Trust ( Trust ). Please forward this Information Circular to other interested persons within your organization. The purpose of this information circular is to outline various rules and policies that will be applicable to trading in these new products pursuant to the Exchanges unlisted trading privileges, as well as to provide certain characteristics and features of the Shares. For a more complete description of the Issuer, the Shares and the underlying market instruments or indexes, visit the Issuer Website, consult the Prospectus available on the Issuer Website or examine the Issuer Registration Statement or review the most current information bulletin issued by the Primary Listing Exchange. The Issuer Website, the Prospectus and the Issuer Registration Statement are hereafter collectively referred to as the Issuer Disclosure Materials.
2 Background Information on the Securities Direxion Daily Communication Services Index Bull 3X Shares (TAWK): The Direxion Daily Communication Services Index Bull 3X Shares (the Fund ) seeks daily leveraged investment results and is very different from most other exchange-traded funds. As a result, the Fund may be riskier than alternatives that do not use leverage because the Fund s objective is to magnify the daily performance of the Communication Services Select Sector Index (the Index ). This means that the return of the Fund for a period longer than a trading day will be the result of each trading day s compounded return over the period, which will very likely differ from 300% of the return of the Index for that period. As a consequence, longer holding periods, higher volatility of the Index and greater leverage increase the impact of compounding on an investor s returns. During periods of higher Index volatility, the volatility of the Index may affect the Fund s return as much as, or more than, the return of the Index. Further, the return for investors that invest for periods less than a trading day will not be 300% of the performance of the Index for the trading day. The Fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in securities of the Index, exchange-traded funds ("ETFs") that track the Index and other financial instruments that provide daily leveraged exposure to the Index or ETFs that track the Index. The financial instruments in which the Fund normally invests include swap agreements and futures contracts which are intended to produce economically leveraged investment results. On a day-to-day basis, the Fund is expected to hold money market funds, deposit accounts with institutions with high quality credit ratings, and/or short-term debt instruments that have terms-tomaturity of less than 397 days and exhibit high quality credit profiles, including U.S. government securities and repurchase agreements. Direxion Daily Communication Services Index Bear 3X Shares (MUTE): The Direxion Daily Communication Services Index Bear 3X Shares (the Fund ) seeks daily inverse leveraged investment results and is very different from most other exchange-traded funds. As a result, the Fund may be riskier than alternatives that do not use leverage because the Fund s objective is to magnify the daily inverse performance of the Communication Services Select Sector Index (the Index ). This means that the return of the Fund for a period longer than a trading day will be the result of each trading day s compounded return over the period, which will very likely differ from -300% of the return of the Index for that period. As a consequence, longer holding periods, higher volatility of the Index and greater leverage increase the impact of compounding on an investor s returns. During periods of higher Index volatility, the volatility of the Index may affect the Fund s return as much as, or more than, the return of the Index. Further, the return for investors that invest for periods less than a trading day will not be -300% of the performance of the Index for the trading day. The Fund, under normal circumstances, invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the Index equal to at least 80% of the Fund s net assets (plus borrowing for investment purposes). On a day-to-day basis, the Fund is expected to hold money market funds,
3 deposit accounts with institutions with high quality credit ratings, and/or short-term debt instruments that have terms-to-maturity of less than 397 days and exhibit high quality credit profiles, including U.S. government securities and repurchase agreements. For more information regarding each Fund s investment strategy, please read the Trust s prospectus for the Funds. As described more fully in the Issuer s prospectus and Statement of Additional Information, each Fund will issue and redeem Shares on a continuous basis at their net asset value ( NAV ). Each Fund will issue or redeem shares that have been aggregated into blocks of shares and or multiples thereof ( Creation Units ) to authorized participants who have entered into agreements with the Funds distributor. A Creation Unit consists of 50,000 Shares. The Funds generally will issue or redeem Creation Units in return for a designated portfolio of securities (and an amount of cash) that the Funds specify each day. Shares are held in book-entry form, which means that no share certificates are issued. The Depository Trust Company or its nominee is the record owner of all outstanding Shares and is recognized as the owner of all Shares for all purposes. The NAV of each Fund is generally determined as of the close of trading (normally 4:00 p.m., Eastern Time) on each day the New York Stock Exchange is open for business. The NAV of the Fund is calculated by dividing the value of the net assets of the Fund (i.e., the value of its total assets less total liabilities) by the total number of outstanding shares of the Fund, generally rounded to the nearest cent. Principal Risks Interested persons are referred to the Funds Registration Statement for a description of risks associated with an investment in each Fund. These may include, but are not limited to, equity investing risk, asset class risk, concentration risk, industry/sector risk, issuer risk, liquidity risk, index risk, market risk, asset class risk, interest rate risk, tax risk and valuation risk. In addition, the market prices of the Shares will fluctuate in accordance with changes in NAV as well as the supply and demand for the Shares. As a result, the Shares may trade at market prices that may differ from their NAV. The NAV of the Shares of each Fund will fluctuate with changes in the market value of such Fund s holdings. Exchange Rules Applicable to Trading in the Shares Trading in the Shares on the Exchanges is subject to the Exchanges equity trading rules.
4 Trading Hours The value of the Index underlying the Shares will be disseminated to data vendors every 15 seconds during Regular Trading Hours. The Shares will trade on Cboe BZX Exchange, Inc. and Cboe BYX Exchange, Inc. between 8:00 a.m. and 5:00 p.m. ET. The Shares will trade on Cboe EDGA Exchange, Inc. and Cboe EDGX Exchange, Inc. between 8:00 a.m. and 8:00 p.m. ET. Please note that trading in the Shares during the Exchanges Pre- Opening and After Hours/Post-Closing Trading Sessions ( Extended Market Sessions ) may result in additional trading risks which include: (1) that the current underlying indicative value may not be updated during the Extended Market Sessions, (2) lower liquidity in the Extended Market Sessions may impact pricing, (3) higher volatility in the Extended Market Sessions may impact pricing, (4) wider spreads may occur in the Extended Markets Sessions, and (5) because the indicative value is not calculated or widely disseminated during the Extended Market Sessions, an investor who is unable to calculate an implied value for the Shares in those sessions may be at a disadvantage to market professionals. Dissemination of Data The Consolidated Tape Association will disseminate real time trade and quote information for the Shares to Tape B. Name Trading Symbol IOPV Symbol NAV Symbol Direxion Daily Communication Services Index Bull 3X Shares Direxion Daily Communication Services Index Bear 3X Shares TAWK TAWK.IV TAWK.NV MUTE MUTE.IV MUTE.NV Delivery of a Prospectus Exchange Members should be mindful of applicable prospectus delivery requirements under the federal securities laws with respect to transactions in the Fund. Prospectuses may be obtained through the Fund s website. The Prospectus for the Fund does not contain all of the information set forth in the Funds Registration Statement (including the exhibits to the Registration Statement), parts of which have been omitted in accordance with the rules and regulations of the SEC. For further information about the Fund, please refer to its Registration Statement. In the event that the Fund relies upon an order by the SEC exempting the Shares from certain prospectus delivery requirements under Section 24(d) of the 1940 Act and in the future make available a written product description, Exchange Rules require that Exchange Members provide to all
5 purchasers of Shares a written description of the terms and characteristics of such securities, in a form prepared by the Issuer of the Fund, no later than the time a confirmation of the first transaction in the Shares is delivered to such purchaser. In addition, Exchange Members shall include such a written description with any sales material relating to the Shares that is provided to customers or the public. Any other written materials provided by an Exchange member to customers or the public making specific reference to the Shares as an investment vehicle must include a statement in substantially the following form: A circular describing the terms and characteristics of [the UTP Derivative Securities] has been prepared by the [open-ended management investment company name] and is available from your broker. It is recommended that you obtain and review such circular before purchasing [the UTP Derivative Securities]. An Exchange member carrying an omnibus account for a non-member broker-dealer is required to inform such non-member that execution of an order to purchase Shares for such omnibus account will be deemed to constitute agreement by the non-member to make such written description available to its customers on the same terms as are directly applicable to such Exchange member under this rule. Upon request of a customer, Exchange Members also shall provide a copy of the Prospectus. Suitability Trading in the securities on the Exchanges will be subject to the provisions of Exchange Rule 3.7. Members recommending transactions in the securities to customers should make a determination that the recommendation is suitable for the customer. Trading Halts The Exchanges will halt trading in the Shares of a security in accordance with Exchange Rules. The grounds for a halt include a halt because the intraday indicative value of the security and/or the value of its underlying index are not being disseminated as required, a halt for other regulatory reasons or due to other conditions or circumstances deemed to be detrimental to the maintenance of a free and orderly market. Exemptive, Interpretive and No-Action Relief Under Federal Securities Regulations The Securities and Exchange Commission (the SEC ) has issued letters granting exemptive, interpretive and no-action relief from certain provisions of rules under the Securities Exchange Act of 1934 for exchange-traded securities listed and traded on a registered national securities exchange that meet certain criteria. AS WHAT FOLLOWS IS ONLY A SUMMARY OF THE RELIEF OUTLINED IN THE NO-ACTION LETTERS REFERENCED ABOVE, THE EXCHANGE ADVISES INTERESTED PARTIES TO CONSULT THE NO- ACTION LETTERS FOR MORE COMPLETE INFORMATION REGARDING THE MATTERS COVERED
6 THEREIN AND THE APPLICABILITY OF THE RELIEF GRANTED IN RESPECT OF TRADING IN SECURITIES. INTERESTED PARTIES SHOULD ALSO CONSULT THEIR PROFESSIONAL ADVISORS. Regulation M Exemptions Generally, Rules 101 and 102 of Regulation M prohibit any distribution participant and its affiliated purchasers from bidding for, purchasing, or attempting to induce any person to bid for or purchase any security which is the subject of a distribution until after the applicable restricted period, except as specifically permitted in Regulation M. The provisions of the Rules apply to underwriters, prospective underwriters, brokers, dealers, and other persons who have agreed to participate or are participating in a distribution of securities. The SEC has granted an exemption from Rule 101 under Regulation M to permit persons participating in a distribution of Shares of the above-mentioned Fund to engage in secondary market transactions in such Shares during their participation in such a distribution. In addition, the SEC has granted relief under Regulation M to permit persons who may be deemed to be participating in the distribution of Shares of the above-mentioned Fund (i) to purchase securities for the purpose of purchasing Creation Unit Aggregations of Fund Shares and (ii) to tender securities for redemption in Creation Unit Aggregations. Further, the SEC has clarified that the tender of Fund Shares to the Fund for redemption does not constitute a bid for or purchase of any of the Funds securities during the restricted period of Rule 101. The SEC has also granted an exemption pursuant to paragraph (e) of Rule 102 under Regulation M to allow the redemption of Fund Shares in Creation Unit Aggregations during the continuous offering of Shares. Rule 10b-10 (Customer Confirmations for Creation or Redemption of Fund Shares) Broker-dealers who handle purchases or redemptions of Fund Shares in Creation Unit size for customers will be permitted to provide such customers with a statement of the number of Creation Unit Aggregations created or redeemed without providing a statement of the identity, number and price of Shares of the individual securities tendered to the Fund for purposes of purchasing Creation Unit Aggregations ( Deposit Securities ) or the identity, number and price of Shares to be delivered by the Trust for the Fund to the redeeming holder ( Redemption Securities ). The composition of the securities required to be tendered to the Fund for creation purposes and of the securities to be delivered on redemption will be disseminated each business day and will be applicable to requests for creations or redemption, as the case may be, on that day. This exemptive relief under Rule 10b-10 with respect to creations and redemption is subject to the following conditions: 1) Confirmations to customers engaging in creations or redemptions must state that all information required by Rule 10b-10 will be provided upon request; 2) Any such request by a customer for information required by Rule 10b-10 will be filed in a timely manner, in accordance with Rule 10b-10(c); and
7 3) Except for the identity, number, and price of Shares of the component securities of the Deposit Securities and Redemption Securities, as described above, confirmations to customers must disclose all other information required by Rule 10b-10(a). Section 11(d)(1); Rules 11d1-1 and 11d1-2 Section 11(d)(1) of the Act generally prohibits a person who is both a broker and a dealer from effecting any transaction in which the broker-dealer extends credit to a customer on any security which was part of a new issue in the distribution of which he participated as a member of a selling syndicate or group within thirty days prior to such transaction. The SEC has clarified that Section 11(d)(1) does not apply to broker-dealers that are not Authorized Participants (and, therefore, do not create Creation Unit Aggregations) that engage in both proprietary and customer transactions in Shares of a Fund in the secondary market, and for broker-dealer Authorized Participants that engage in creations of Creation Unit Aggregations. This relief is subject to specific conditions, including the condition that such broker-dealer (whether or not an Authorized Participant) does not, directly or indirectly, receive from the Fund complex any payment, compensation or other economic incentive to promote or sell the Shares of a Fund to persons outside the fund complex, other than non-cash compensation permitted under NASD Rule 2830(l)(5)(A), (B) or (C). (See letter from Catherine McGuire, Chief Counsel, SEC Division of Market Regulation, to Securities Industry Association, Derivative Products Committee, dated November 21, 2005.) The SEC also has taken a no-action position under Section 11(d)(1) of the Act that broker-dealers may treat Shares of a Fund, for purposes of Rule 11d1-2, as "securities issued by a registered open-end investment company as defined in the Investment Company Act" and thereby extend credit or maintain or arrange for the extension or maintenance of credit on Shares that have been owned by the persons to whom credit is provided for more than 30 days, in reliance on the exemption contained in the rule. Rule 14e-5 An exemption from Rule 14e-5 has been granted to permit any person acting as a dealer-manager of a tender offer for a component security of the Fund (1) to redeem Fund Shares in Creation Unit Aggregations from the issuer that may include a security subject to such tender offer and (2) to purchase Fund Shares during such tender offer. In addition, a no-action position has been taken under Rule 14e-5 if a broker-dealer acting as a dealer-manager of a tender offer for a security of the Fund purchases or arranges to purchase such securities in the secondary market for the purpose of tendering such securities to purchase one or more Creation Unit Aggregations of Shares, if made in conformance with the following: 1) such bids or purchases are effected in the ordinary course of business, in connection with a basket of 20 or more securities in which any security that is the subject of a distribution, or any reference security, does not comprise more than 5% of the value of the basket purchase; or
8 2) purchases are effected as adjustments to such basket in the ordinary course of business as a result of a change in the composition of the underlying index; and 3) such bids or purchases are not effected for the purpose of facilitating such tender offer. SEC Rule 15c1-5 and 15c1-6 The SEC has taken a no-action position with respect to Rule 15c1-5 and Rule 15c1-6 as to the required disclosure of control by a broker or dealer with respect to creations and redemptions of Fund Shares and secondary market transactions therein. (See letter from Catherine McGuire, Chief Counsel, SEC Division of Market Regulation, to Securities Industry Association, Derivative Products Committee, dated November 21, 2005.) This Information Circular is not a statutory prospectus. Members should consult the Prospectus for a security and the security s website for relevant information. Please contact Listings Services at with any inquiries regarding this Information Circular.
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BZX Information Circular 15-052 EDGA Information Circular 15-052 BYX Information Circular 15-052 EDGX Information Circular 15-052 Date: May 7, 2015 Re: PowerShares Europe Currency Hedged Low Volatility
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 15-058 EDGA Information Circular 15-058 BYX Information Circular 15-058 EDGX Information Circular 15-058 Date: May 28, 2015 Re: Global X YieldCo Index ETF Pursuant to the Rules
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Cboe BYX Exchange, Inc. Information Circular 18-039 Cboe EDGA Exchange, Inc. Information Circular 18-039 Cboe EDGX Exchange, Inc. Information Circular 18-039 Date: April 3, 2019 Re: ishares ibonds Dec
Securities (the Funds ) ProShares Ultra Communication Services Select Sector. ProShares UltraPro Short Communication Services Select Sector
Cboe BZX Exchange, Inc. Information Circular 19-008 Cboe BYX Exchange, Inc. Information Circular 19-008 Cboe EDGA Exchange, Inc. Information Circular 19-008 Cboe EDGX Exchange, Inc. Information Circular
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 15-161 EDGA Information Circular 15-161 BYX Information Circular 15-161 EDGX Information Circular 15-161 Date: December 7, 2015 Re: Direxion Daily Bear Shares Pursuant to the Rules
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BZX Information Circular 17-026 Date: February 22, 2017 Re: Actively Managed Exchange-Traded Fund Trust Pursuant to the Rules of Bats BZX Exchange, Inc. ( BZX ), (referred to hereafter as Bats or the Exchange
Securities (the Funds ) Franklin FTSE India ETF Franklin FTSE Russia ETF Franklin FTSE Switzerland ETF Franklin FTSE Asia ex Japan ETF
Cboe BZX Exchange, Inc. Information Circular 18-030 Cboe BYX Exchange, Inc. Information Circular 18-030 Cboe EDGA Exchange, Inc. Information Circular 18-030 Cboe EDGX Exchange, Inc. Information Circular
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 15-065 EDGA Information Circular 15-065 BYX Information Circular 15-065 EDGX Information Circular 15-065 Date: June 9, 2015 Re: Direxion Shares ETF Trust Pursuant to the Rules
Securities (the Funds ) WisdomTree Germany Hedged Equity Fund
BZX Information Circular 13-091 BYX Information Circular 13-091 Date: October 18, 2013 Re: WisdomTree Trust Fund Pursuant to Rule 14.11(j)(2) of the Rules of BATS Exchange, Inc. and 14.1(c)(2) of the Rules
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 15-038 EDGA Information Circular 15-038 BYX Information Circular 15-038 EDGX Information Circular 15-038 Date: March 30, 2015 Re: Sprott Junior Gold Miners ETF Pursuant to the
Securities (the Funds ) Portfolio+ S&P Mid Cap ETF Portfolio+ Emerging Markets ETF Portfolio+ Developed Markets ETF Portfolio+ Total Bond Market ETF
Cboe BZX Exchange, Inc. Information Circular 18-034 Cboe BYX Exchange, Inc. Information Circular 18-034 Cboe EDGA Exchange, Inc. Information Circular 18-034 Cboe EDGX Exchange, Inc. Information Circular
Securities (the Fund )
Cboe BZX Exchange, Inc. Information Circular 18-088 Date: June 13, 2018 Re: Fidelity Low Duration Bond Factor ETF Pursuant to the Rules of Cboe BZX Exchange, Inc., (referred to hereafter as the Exchange
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BYX Information Circular 17-063 EDGA Information Circular 17-063 EDGX Information Circular 17-063 Date: May 31, 2017 Re: Amplify YieldShares Oil Hedged MLP Income ETF Pursuant to the Rules of Bats BZX
Date: November 14, Re: ishares ibonds Dec 2025 Term Muni Bond ETF
Cboe BYX Exchange, Inc. Information Circular 18-181 Cboe EDGA Exchange, Inc. Information Circular 18-181 Cboe EDGX Exchange, Inc. Information Circular 18-181 Date: November 14, 2018 Re: ishares ibonds
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 15-096 EDGA Information Circular 15-096 BYX Information Circular 15-096 EDGX Information Circular 15-096 Date: July 30, 2015 Re: ishares Currency Hedged Global ex USD High Yield
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 17-093 EDGA Information Circular 17-093 BYX Information Circular 17-093 EDGX Information Circular 17-093 Date: July 19, 2017 Re: AdvisorShares New Tech and Media ETF Pursuant to
Securities (the Fund ) Bernstein U.S. Research Fund Bernstein Global Research Fund
BZX Information Circular 17-135 Date: October 16, 2017 Re: Exchange Traded Concepts Trust Pursuant to the Rules of Bats BZX Exchange, Inc. ( BZX ), (referred to hereafter as Bats or the Exchange ), this
Securities (the Funds ) Direxion Daily Japan Bull 3X Shares. Direxion Daily Japan Bear 3X Shares
BZX Information Circular 13-051 BYX Information Circular 13-051 Date: July 8, 2013 Re: Direxion Shares ETF Trust Pursuant to Rule 14.11(j)(2) of the Rules of BATS Exchange, Inc. and 14.1(c)(2) of the Rules
SPDR Kensho Clean Power ETF SPDR Kensho Final Frontiers ETF SPDR Kensho New Economies Composite ETF
Cboe BZX Exchange, Inc. Information Circular 18-164 Cboe BYX Exchange, Inc. Information Circular 18-164 Cboe EDGA Exchange, Inc. Information Circular 18-164 Cboe EDGX Exchange, Inc. Information Circular
Oppenheimer Russell 2000 Dynamic Multifactor ETF
Cboe BYX Exchange, Inc. Information Circular 17-161 Cboe EDGA Exchange, Inc. Information Circular 17-161 Cboe EDGX Exchange, Inc. Information Circular 17-161 Date: November 9, 2017 Re: Oppenheimer ETF
Date: October 30, Re: JPMorgan Municipal ETF
Cboe BYX Exchange, Inc. Information Circular 18-168 Cboe EDGA Exchange, Inc. Information Circular 18-168 Cboe EDGX Exchange, Inc. Information Circular 18-168 Date: October 30, 2018 Re: JPMorgan Municipal
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 15-031 EDGA Information Circular 15-031 BYX Information Circular 15-031 EDGX Information Circular 15-031 Date: March 11, 2015 Re: CSOP ETF Trust Pursuant to the Rules of BATS Exchange,
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Cboe BZX Exchange, Inc. Information Circular 18-128 Date: August 28, 2018 Re: Innovator S&P 500 Buffer ETF July Pursuant to the Rules of Cboe BZX Exchange, Inc., (referred to hereafter as the Exchange
Securities (the Fund ) Source EURO STOXX 50 ETF
BZX Information Circular 14-090 EDGA Regulatory Information Circular 14-089 BYX Information Circular 14-090 EDGX Regulatory Information Circular 14-089 Date: September 23, 2014 Re: SOURCE EURO STOXX 50
Securities (the Funds ) SPDR S&P 1500 Momentum Tilt ETF. SPDR S&P 1500 Value Tilt ETF
BZX Information Circular 12-103 BYX Information Circular 12-103 Date: October 31, 2012 Re: SPDR S&P 1500 ETFs Pursuant to Rule 14.11(j)(2) of the Rules of BATS Exchange, Inc. and 14.1(c)(2) of the Rules
Securities (the Fund )
BZX Information Circular 14-126 EDGA Regulatory Information Circular 14-125 BYX Information Circular 14-126 EDGX Regulatory Information Circular 14-125 Date: December 3, 2014 Re: KraneShares E Fund China
400 South LaSalle Street Chicago, IL cboe.com
Cboe BZX Exchange, Inc. Information Circular 17-137 Cboe BYX Exchange, Inc. Information Circular 17-137 Cboe EDGA Exchange, Inc. Information Circular 17-137 Cboe EDGX Exchange, Inc. Information Circular
Securities (the Fund ) Virtus LifeSci Biotech Clinical Trials ETF Virtus LifeSci Biotech Products ETF
BZX Information Circular 17-112 EDGA Information Circular 17-112 BYX Information Circular 17-112 EDGX Information Circular 17-112 Date: September 8, 2017 Re: ETFis Series Trust I Pursuant to the Rules
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 15-101 EDGA Information Circular 15-101 BYX Information Circular 15-101 EDGX Information Circular 15-101 Date: August 19, 2015 Re: DBX ETF Trust Pursuant to the Rules of BATS Exchange,
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 16-069 EDGA Information Circular 16-069 BYX Information Circular 16-069 EDGX Information Circular 16-069 Date: June 15, 2016 Re: First Trust RiverFront Dynamic Emerging Markets
Securities (the Fund )
BYX Information Circular 17-079 EDGA Information Circular 17-079 EDGX Information Circular 17-079 Date: June 28, 2017 Re: WisdomTree U.S. Multifactor Fund Pursuant to the Rules of Bats BZX Exchange, Inc.
Securities (the Fund )
BZX Information Circular 16-107 Date: September 20, 2016 Re: Elkhorn Fundamental Commodity Strategy ETF Pursuant to the Rules of Bats BZX Exchange, Inc. ( BZX ), (referred to hereafter as Bats or the Exchange
Investors Exchange Product Information Circular
Investors Exchange Product Information Circular 2018-0193 Date: December 31, 2018 Re: IQ 500 International ETF This Information Circular is being issued to advise you that the following securities have
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 16-101 EDGA Information Circular 16-101 BYX Information Circular 16-101 EDGX Information Circular 16-101 Date: September 16, 2016 Re: Global X Funds Pursuant to the Rules of Bats
Securities (the Fund )
Cboe BZX Exchange, Inc. Information Circular 18-085 Date: June 7, 2018 Re: ishares Gold Strategy ETF Pursuant to the Rules of Cboe BZX Exchange, Inc., (referred to hereafter as the Exchange ), this Information
BZX Information Circular BYX Information Circular Date: May 9, First Trust NASDAQ Global Auto Index Fund
Date: May 9, 2011 BZX Information Circular 11-052 BYX Information Circular 11-052 Re: First Trust NASDAQ Global Auto Index Fund Pursuant to Rule 14.1(c)(2) of the Rules of BATS Exchange, Inc. and BATS
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 17-064 EDGA Information Circular 17-064 BYX Information Circular 17-064 EDGX Information Circular 17-064 Date: May 23, 2017 Re: GraniteShares ETF Trust Pursuant to the Rules of
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 15-130 EDGA Information Circular 15-130 BYX Information Circular 15-130 EDGX Information Circular 15-130 Date: October 9, 2015 Re: PowerShares Exchange-Traded Fund Trust II Pursuant
Securities (the Fund ) Global X Nasdaq 400 Mid Cap ETF. Global X Nasdaq 500 ETF
Date: December 6, 2011 BZX Information Circular 11-135 BYX Information Circular 11-135 Re: Global X Nasdaq 400 Mid Cap and 500 ETFs Pursuant to Rule 14.11(j)(2) of the Rules of BATS Exchange, Inc. and
Securities (the Fund ) Market Vectors ChinaAMC China Bond ETF
BZX Information Circular 14-118 EDGA Regulatory Information Circular 14-117 BYX Information Circular 14-118 EDGX Regulatory Information Circular 14-117 Date: November 11, 2014 Re: Market Vectors ETF Trust
BZX Information Circular Date: July 16, 2010
Date: July 16, 2010 BZX Information Circular 10-073 Re: Direxion Funds Daily Natural Gas Related Bull 2X Shares ETF Direxion Funds Daily Natural Gas Related Bear 2X Shares ETF Direxion Funds Daily Retail
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 17-023 EDGA Information Circular 17-023 BYX Information Circular 17-023 EDGX Information Circular 17-023 Date: February 15, 2017 Re: SPDR Long Dollar Gold Trust Pursuant to the
Securities (the Funds )
BZX Information Circular 13-101 BYX Information Circular 13-101 Date: November 7, 2013 Re: db X-trackers Harvest CSI 300 China A-Shares Fund Pursuant to Rule 14.11(j)(2) of the Rules of BATS Exchange,
Securities (the Fund ) Oppenheimer Emerging Markets Revenue ETF Oppenheimer Global Revenue ETF Oppenheimer International Revenue ETF
BZX Information Circular 17-089 Date: July 12, 2017 Re: Oppenheimer Revenue Weighted ETF Trust Pursuant to the Rules of Bats BZX Exchange, Inc. ( BZX ), (referred to hereafter as Bats or the Exchange ),
Securities (the Fund )
BZX Information Circular 14-023 EDGA Regulatory Information Circular 14-024 BYX Information Circular 14-023 EDGX Regulatory Information Circular 14-024 Date: March 5, 2014 Re: KraneShares Bosera MSCI China
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 15-041 EDGA Information Circular 15-041 BYX Information Circular 15-041 EDGX Information Circular 15-041 Date: April 8, 2015 Re: Deutsche X-Trackers ETFs Pursuant to the Rules
Securities (the Fund )
BZX Information Circular 16-085 Date: July 18, 2016 Re: The 3D Printing ETF Pursuant to the Rules of Bats BZX Exchange, Inc. ( BZX ), (referred to hereafter as Bats or the Exchange ), this Information
BZX Information Circular EDGA Information Circular BYX Information Circular EDGX Information Circular
BZX Information Circular 15-026 EDGA Information Circular 15-026 BYX Information Circular 15-026 EDGX Information Circular 15-026 Date: March 3, 2015 Re: DBX ETF Trust Pursuant to the Rules of BATS Exchange,
Date: November 5, First Trust Emerging Markets Local Currency Bond ETF
BZX Information Circular 14-115 EDGA Regulatory Information Circular 14-114 BYX Information Circular 14-115 EDGX Regulatory Information Circular 14-114 Date: November 5, 2014 Re: First Trust Emerging Markets
Securities (the Funds ) Direxion Daily FTSE Developed Markets Bull 1.25X Shares. Direxion Daily FTSE Emerging Markets Bull 1.
BZX Information Circular 15-002 EDGA Regulatory Information Circular 15-002 BYX Information Circular 15-002 EDGX Regulatory Information Circular 15-002 Date: January 7, 2015 Re: Direxion Daily Shares Pursuant
Securities (the Funds ) Vanguard ESG U.S. Stock ETF Vanguard ESG International Stock ETF
Cboe BZX Exchange, Inc. Information Circular 18-144 Date: September 19, 2018 Re: Vanguard World Fund Pursuant to the Rules of Cboe BZX Exchange, Inc., (referred to hereafter as the Exchange ), this Information