On April 5th, the SEC provided notice of NYSE Arca's filing of a proposal that would create a one-year pilot program for issuers of certain exchange-traded products ("ETPs") listed on the Exchange. The pilot program would be called the NYSE Arca ETP Incentive Program and would be designed to enhance the market quality for ETPs by incentivizing Market Makers to take Lead Market Maker ("LMM") assignments in certain lower volume ETPs by offering an alternative fee structure for such LMMs that would be funded from the Exchange's general revenues. The costs of the Incentive Program would be offset by charging participating issuers non-refundable Optional Incentive Fees, which would be credited to the Exchange's general revenues. Participation would be entirely voluntary on the part of both LMMs and issuers. The Exchange proposes to add new NYSE Arca Equities Rule 8.800 to set forth the requirements for the Incentive Program, including performance standards specific to LMMs participating in the Incentive Program. The April 5th proposal supersedes the previously submitted March 21, 2013 proposal. Comments should be submitted on or before May 2, 2013. SEC Release No. 34-69335.