Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Organizational Documents, Company Guide, Price List, Fee Schedules, Independence Policy and Rules To Change the Name of the Exchange to NYSE American LLC, 15244-15247 [2017-05920]
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Federal Register / Vol. 82, No. 57 / Monday, March 27, 2017 / Notices
3. Enhance the quality, utility, and
clarity of the information to be
collected; and
4. Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., permitting electronic submissions
of responses.
The 1203 series was commonly
referred to as the ‘‘Qualifications and
Availability Form C.’’ OPM re-titled the
series as ‘‘Occupational Questionnaire’’
to fit a more generic need. OPM uses
this form to carry out its responsibility
for open competitive examining for
admission to the competitive service in
accordance with Section 3304, Title 5,
United States Code. One change has
been made to the form under Section 14,
Veterans’ Preference. The addition of
Sole Survivorship Preference was added
to reflect the amended eligibility
categories for veterans’ preference per
Public Law 110–317, the Hubbard Act.
Subparagraph (H) established the new
category for veterans released or
discharged from a period of active duty
from the armed forces, after August 29,
2008, by reason of a ‘‘sole survivorship
discharge.’’
Analysis
Agency: Automated Systems
Management Group, Office of Personnel
Management.
Title: Occupational Questionnaire,
OPM Form 1203–FX.
OMB Number: 3260–0040.
Frequency: On occasion.
Affected Public: Individuals and
households.
Number of Respondents:
approximately 11,400,000.
Estimated Time per Respondent: 40
minutes.
Total Burden Hours: 7,600,000 hours.
U.S. Office of Personnel Management.
Kathleen M. McGettigan,
Acting Director.
[FR Doc. 2017–05957 Filed 3–24–17; 8:45 am]
and Technology (NSET) Subcommittee
of the Committee on Technology,
National Science and Technology
Council (NSTC), will hold one or more
workshops to engage stakeholders and
facilitate discussion on key
nanotechnology matters. Topics covered
may include nanosensor manufacturing;
environmental, health, and safety
issues; converging technologies; or other
areas of potential interest to the
nanotechnology community.
The NNCO will hold one or more
workshops between the publication of
this Notice and December 31, 2017.
DATES:
For information about
upcoming workshops, please visit
https://www.nano.gov/events/meetingsworkshops.
ADDRESSES:
For
information regarding this Notice,
please contact Jewel Beamon at National
Nanotechnology Coordination Office, by
telephone (703–292–8626) or email
(jbeamon@nnco.nano.gov). Additional
information about each workshop will
be posted on www.nano.gov.
FOR FURTHER INFORMATION CONTACT:
SUPPLEMENTARY INFORMATION:
Registration: Due to space limitations,
pre-registration for workshops is
required. Registration is on a first-come,
first-served basis, and will be available
on www.nano.gov. Registration for the
workshops will be capped as space
limitations dictate. Individuals planning
to attend a workshop can find
registration information at https://
www.nano.gov/meetings-workshops.
Written notices of participation by email
should be sent to info@nnco.nano.gov or
mailed to Jewel Beamon, 4201 Wilson
Blvd., Stafford II, Suite 405, Arlington,
VA 22230.
Meeting Accomodations: Individuals
requiring special accommodation to
access any of these public events should
contact Jewel Beamon (telephone 703–
292–8626) at least ten business days
prior to the meeting so that appropriate
arrangements can be made.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
BILLING CODE 6325–43–P
Ted Wackler,
Deputy Chief of Staff and Assistant Director.
OFFICE OF SCIENCE AND
TECHNOLOGY POLICY
[FR Doc. 2017–05913 Filed 3–24–17; 8:45 am]
BILLING CODE 3270–F7–P
National Nanotechnology Initiative
Workshops
ACTION:
Notice of public meetings.
The National Nanotechnology
Coordination Office (NNCO), on behalf
of the Nanoscale Science, Engineering,
SUMMARY:
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–80283; File No. SR–
NYSEMKT–2017–14]
Self-Regulatory Organizations; NYSE
MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Its
Organizational Documents, Company
Guide, Price List, Fee Schedules,
Independence Policy and Rules To
Change the Name of the Exchange to
NYSE American LLC
March 21, 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 March
16, 2017 NYSE MKT LLC (the
‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the selfregulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes, in
connection with its name change to
NYSE American LLC, to amend certain
organizational documents, the NYSE
MKT LLC Company Guide (‘‘Company
Guide’’), the NYSE MKT Equities Price
List (‘‘Price List’’), the NYSE Amex
Options Fee Schedule (‘‘Fee Schedule’’),
the NYSE MKT LLC Equities Proprietary
Market Data Fees (‘‘Market Data Fees’’),
the Independence Policy of the Board of
Directors (‘‘Independence Policy’’), and
rules of the Exchange to reflect that
name change. The proposed 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
1 15
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
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Federal Register / Vol. 82, No. 57 / Monday, March 27, 2017 / Notices
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
asabaliauskas on DSK3SPTVN1PROD with NOTICES
1. Purpose
NYSE MKT proposes, in connection
with its name change to NYSE
American LLC (‘‘NYSE American’’), to
amend certain organizational
documents, the Company Guide, Price
List, Fee Schedule, Market Data Fees,
Independence Policy, and rules of the
Exchange to reflect that name change.
Name Change of the Exchange
In 2008, NYSE Euronext acquired the
American Stock Exchange LLC
(‘‘Amex’’), as a result of which the
Exchange, as the successor entity to
Amex, became a wholly owned
subsidiary of NYSE Group, Inc. At that
time, the Exchange was named ‘‘NYSE
Alternext US LLC.’’ 4 In 2009, the name
of the Exchange was changed to ‘‘NYSE
Amex LLC’’ 5 and in 2012 it was
changed to ‘‘NYSE MKT LLC.’’ 6 The
Exchange has now determined that for
marketing purposes it would be
desirable to change the name of the
Exchange to ‘‘NYSE American LLC.’’
In connection with the name change,
the Exchange proposes to amend the
following documents as described
below:
• Certificate of Formation: The
Exchange proposes to replace ‘‘NYSE
MKT LLC’’ with ‘‘NYSE American LLC’’
in number 1 of the certificate of
formation and to make conforming
changes to the title.
• Tenth Amended and Restated
Operating Agreement of NYSE MKT
LLC: The Exchange proposes to replace
‘‘NYSE MKT LLC’’ with ‘‘NYSE
American LLC’’ in Article I, Section
1.01 (Name) and to replace ‘‘NYSE MKT
DCRC’’ with ‘‘NYSE American DCRC’’
in Article II, Section 2.03 (Board). The
Exchange also proposes to make
conforming changes to the title,
preamble, recitals, and signature line.
• Company Guide: The Exchange
proposes to replace ‘‘NYSE MKT LLC’’
with ‘‘NYSE American LLC’’ in the title,
4 See Securities Exchange Act Release No. 58673
(September 29, 2008), 73 FR 57707 (October 3,
2008) (SR–Amex–2008–62).
5 See Securities Exchange Act Release No. 59575
(March 13, 2009), 74 FR 11803 (March 19, 2009)
(SR–NYSEALTR–2009–24).
6 See Securities Exchange Act Release No. 67037
(May 21, 2012), 77 FR 31415 (May 25, 2012) (SR–
NYSEAmex–2012–32).
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Section 211(c) (Original Listing
Application—General) and Section 350
(Cancellation Notice), and in the
Appendix forms for an Initial Public
Offering, Common Stock, and Listing
Agreement.
• Price List: The Exchange proposes
to replace ‘‘NYSE MKT’’ with ‘‘NYSE
American’’ in the title and throughout
the Price List. Under ‘‘Co-Location
Fees,’’ the Exchange proposes to replace
‘‘NYSE MKT Equities Price List’’ with
‘‘NYSE American Equities Price List’’
and ‘‘NYSE MKT Options Fee
Schedule’’ with ‘‘NYSE American
Options Fee Schedule.’’ Under ‘‘Listing
Fees,’’ the Exchange proposes to replace
‘‘NYSE MKT Company Guide’’ with
‘‘NYSE American Company Guide.’’
• Fee Schedule: The Exchange
proposes to replace ‘‘NYSE MKT LLC’’
with ‘‘NYSE American LLC’’ in the title.
Additionally, the Exchange proposes to
replace all references to ‘‘NYSE MKT’’
with ‘‘NYSE American’’ in ‘‘Section V.
Technology & System Access Fees—CoLocation Fees.’’
• Market Data Fees: The Exchange
proposes to replace ‘‘NYSE MKT LLC’’
with ‘‘NYSE American LLC’’ in the title.
Additionally, the Exchange proposes to
replace all references to ‘‘NYSE MKT’’
with ‘‘NYSE American’’ in the product
names and footnotes 1, 2, and 4.
• Independence Policy: The Exchange
proposes to replace ‘‘NYSE MKT LLC’’
with ‘‘NYSE American LLC’’ throughout
the Independence Policy.7 Additionally,
the Exchange proposes to replace
‘‘[Insert name of relevant NYSE U.S.
Regulated Subsidiary]’’ with ‘‘NYSE
American LLC.’’ The text being replaced
was used in prior filings because several
entities used the same Independence
Policy.8
7 In addition, the Exchange proposes to delete
footnote 2 of the Independence Policy, which has
an obsolete reference to NYSE Regulation, Inc.
(‘‘NYSE Regulation’’). NYSE Regulation and NYSE
Market (DE), Inc. (‘‘NYSE Market (DE)’’) were
previously parties to a Delegation Agreement
whereby the New York Stock Exchange LLC
delegated certain regulatory functions to NYSE
Regulation and certain market functions to NYSE
Market (DE) (‘‘Delegation Agreement’’). The
Delegation Agreement was terminated when the
New York Stock Exchange LLC re-integrated its
regulatory and market functions. As a result, the
two entities ceased being regulated subsidiaries,
and NYSE Regulation was merged out of existence.
See Securities Exchange Act Release No. 75991
(September 28, 2015), 80 FR 59837 (October 10,
2015) (SR–NYSE–2015–27).
8 Prior to the termination of the Delegation
Agreement, the same Independence Policy applied
to the Exchange, the New York Stock Exchange
LLC, NYSE Market (DE), and NYSE Regulation. See
Securities Exchange Act Release Nos. 72156 (May
13, 2014), 79 FR 28782 (May 19, 2014) (SR–
NYSEMKT–2014–41); 67564 (August 1, 2012), 77
FR 47161 (August 7, 2012) (SR–NYSE–2012–17;
SR–NYSEArca–2012–59; SR–NYSEMKT–2012–07).
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15245
In addition, the Exchange proposes to
amend its rules as follows:
• The Exchange proposes to replace
‘‘NYSE MKT LLC’’ with ‘‘NYSE
American LLC’’ in definitions 11 (‘‘The
Exchange’’) and 37 (‘‘Company Guide’’);
Rule 341, Commentary .02 and .08
(Approval of Registered Employees and
Officers); Rule 1—Equities (The
Exchange and Related Entities); Rule
37—Equities (Visitors); Rule 98—
Equities (c)(6) (Operation of a DMM
Unit); Rule 227—Equities Forms 6(a),
7(a), and 12(a) (Depository Eligibility);
Rule 497—Equities (a)(3) (Additional
Requirements for Listed Securities
Issued by ICE or its Affiliates); and Rule
900.2NY(45) and (47) (Definitions).
• The Exchange proposes to replace
‘‘NYSE MKT LLC’’ with ‘‘the Exchange’’
in Rule 341, Commentary .08 (Approval
of Registered Employees and Officers).
• The Exchange proposes to replace
‘‘NYSE MKT Bonds’’ with ‘‘NYSE
American Bonds’’ in Rule 51—Equities
(a), Supplementary Material .20 (Hours
for Business); Rule 72—Equities,
Supplementary Material .40 (Priority of
Bids and Offers and Allocation of
Executions); Rule 86—Equities (NYSE
MKT Bonds); Rule 119—Equities
(Change in Basis from ‘‘And Interest’’ to
‘‘Flat’’); and Rule 123B—Equities,
Supplementary Material .30 (Exchange
Automated Order Routing System).
• In Rule 86—Equities (b)(2) and (c),
the Exchange proposes to replace
‘‘NYSE MKT Bonds Limit Order’’ with
‘‘NYSE American Bonds Limit Order’’;
‘‘NYSE MKT Bonds Reserve Order’’
with ‘‘NYSE American Bonds Reserve
Order’’; ‘‘NYSE MKT Bonds Good ‘Til
Cancelled Order’’ with NYSE American
Bonds Good ‘Til Cancelled Order’’; and
‘‘NYSE MKT Bonds Day Order’’ with
‘‘NYSE American Bonds Day Order.’’
• The Exchange proposes to replace
‘‘NYSE MKT Company Guide’’ with
‘‘Company Guide’’ in Rule 2210—
Equities (c)(7)(N) (Communications with
the Public).
• The Exchange proposes to replace
‘‘NYSE MKT’’ with ‘‘NYSE American’’
in Rule 3170—Equities (a)(3) (Tape
Recording of Registered Persons by
Certain Firms).
• In the Trading of Options Contracts
portion of the rulebook, the Exchange
proposes to replace ‘‘NYSE MKT’’ with
‘‘Exchange’’ in Section 15 (Flexible
Exchange (‘‘FLEX’’) Options), Rule
900G(b) (Applicability and Definitions);
Rule 903G(b)(4) and (5) (Terms of FLEX
Options); and Rule 975NY(k)(3)(A)
(Nullification and Adjustment of
Options Transactions including Obvious
Errors).
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Federal Register / Vol. 82, No. 57 / Monday, March 27, 2017 / Notices
None of the foregoing changes are
substantive.9 The name change and the
above-listed changes would become
operative upon the effectiveness of an
amendment to the Exchange’s
Certificate of Formation, which is
expected to be no later than June 30,
2017. The Exchange will announce the
name change via Trader Update.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Exchange Act 10 in
general, and with Section 6(b)(1) 11 in
particular, in that it enables the
Exchange to be so organized as to have
the capacity to be able to carry out the
purposes of the Exchange Act and to
comply, and to enforce compliance by
its exchange members and persons
associated with its exchange members,
with the provisions of the Exchange Act,
the rules and regulations thereunder,
and the rules of the Exchange.
The proposed rule change is a nonsubstantive change and does not impact
the governance or ownership of the
Exchange. The Exchange believes that
the proposed rule change would enable
the Exchange to continue to be so
organized as to have the capacity to
carry out the purposes of the Exchange
Act and comply and enforce compliance
with the provisions of the Exchange Act
by its members and persons associated
with its members, because ensuring that
the Exchange’s governing documents,
Company Guide, Price List, Fee
Schedule, Market Data Fees,
Independence Policy and rulebook
accurately reflect the name of the
Exchange would contribute to the
orderly operation of the Exchange by
adding clarity and transparency to such
documents and rules.
For similar reasons, the Exchange also
believes that the proposed rule change
is consistent with Section 6(b)(5) of the
Act,12 in that it 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 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.
9 The
Exchange will submit subsequent rule
filings as necessary to make any technical
corrections to proposed rule changes that are
pending as of the date of submission of this filing
and approved by the Commission thereafter.
10 15 U.S.C. 78f(b).
11 15 U.S.C. 78f(b)(1).
12 15 U.S.C. 78f(b)(5).
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The Exchange believes that the
proposed rule change would remove
impediments to and perfect the
mechanism of a free and open market
and a national market system by
ensuring that market participants can
more easily navigate, understand and
comply with the Exchange’s governing
documents, Company Guide, Price List,
Fee Schedule, Market Data Fees,
Independence Policy and rulebook. The
Exchange believes that, by ensuring that
such documents and rulebook
accurately reflect the name of the
Exchange, the proposed rule change
would reduce potential investor or
market participant confusion.
The Exchange believes that the
proposed changes to replace ‘‘[Insert
name of relevant NYSE U.S. Regulated
Subsidiary]’’ with ‘‘NYSE American
LLC’’ would contribute to the orderly
operation of the Exchange by adding
clarity and transparency to such
document.
Further, the Exchange believes that
the proposed deletion of footnote two of
the Independence Policy would remove
impediments to, and perfect the
mechanism of a free and open market
and a national market system and, in
general, protect investors and the public
interest because the change would
eliminate an obsolete reference to NYSE
Regulation, thereby reducing potential
confusion. Market participants and
investors would not be harmed and in
fact could benefit from the increased
clarity and transparency in the
Independence Policy, ensuring that
market participants could more easily
understand the Independence Policy.
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
proposed rule change is not intended to
address competitive issues but rather is
concerned solely with updating the
Exchange’s organizational documents,
Company guide, Price List, Fee
Schedule, Market Data Fees,
Independence Policy and rules to reflect
its name change.
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.
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III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Ac t13 and Rule 19b–4(f)(3) 14
thereunder in that the proposed rule
change is concerned solely with the
administration of the Exchange.
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may 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 under Section
19(b)(2)(B) 15 of the Act to determine
whether the proposed rule change
should be approved or 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 (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NYSEMKT–2017–14 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–NYSEMKT–2017–14. 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 (https://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
13 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(3).
15 15 U.S.C. 78s(b)(2)(B).
14 17
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Federal Register / Vol. 82, No. 57 / Monday, March 27, 2017 / Notices
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 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–
NYSEMKT–2017–14 and should be
submitted on or before April 17, 2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.16
Eduardo A. Aleman,
Assistant Secretary.
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–80286; File No. SR–CBOE–
2017–022]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend the MDX Fees
Schedule
March 21, 2017.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on March 14,
2017, Chicago Board Options Exchange,
Incorporated (the ‘‘Exchange’’ or
‘‘CBOE’’) filed with the Securities and
Exchange Commission (the
‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Chicago Board Options Exchange,
Incorporated (the ‘‘Exchange’’ or
‘‘CBOE’’) proposes to amend user fees
for the Complex Order Book (‘‘COB’’)
1. Purpose
The Exchange proposes to make a
number of changes to the Fees Schedule
of the Exchange’s affiliate Market Data
Express, LLC (‘‘MDX’’).3 The purpose of
the proposed rule change is to amend
user fees for the Best Bid and Offer
(‘‘BBO’’) data feed. This data feed is
made available by MDX.
BBO Data Feed
The BBO Data Feed is a real-time data
feed that includes the following
information: (i) Outstanding quotes and
standing orders at the best available
price level on each side of the market;
(ii) executed trades time, size, and price;
(iii) totals of customer versus noncustomer contracts at the BBO; (iv) allor-none contingency orders priced
better than or equal to the BBO; (v)
expected opening price and expected
opening size; (vi) end-of-day summaries
by product, including open, high, low,
and closing price during the trading
session; (vi) recap messages any time
there is a change in the open, high, low
or last sale price of a listed option, (vii)
Complex Order Book (‘‘COB’’)
information; and (viii) product IDs and
codes for all listed options contracts.
The quote and last sale data contained
in the BBO data feed is identical to the
data sent to the Options Price Reporting
3 The Exchange initially filed the proposed fee
changes on March 1, 2017 (SR–CBOE–2017–020).
On March 14, 2017, the Exchange withdrew that
filing and submitted this filing.
16 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
18:02 Mar 24, 2017
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
Exchange 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. The
Exchange 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
[FR Doc. 2017–05920 Filed 3–24–17; 8:45 am]
VerDate Sep<11>2014
Data Feed. The text of the proposed rule
change is available on the Exchange’s
Web site (https://www.cboe.com/
AboutCBOE/
CBOELegalRegulatoryHome.aspx), at
the Exchange’s Office of the Secretary,
and at the Commission’s Public
Reference Room.
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Authority for redistribution to the
public.
Background
The Floor Broker Workstation
(‘‘FBW’’) is an order management tool
used by CBOE Floor Brokers to handle
orders on the trading floor of the
Exchange. Through February 28, 2017,
FBW was a third-party facility of the
Exchange. CBOE made the BBO data
feed available to Floor Brokers that used
FBW at no cost, apart from the
applicable FBW login fees ($450 per
login ID). Floor Brokers used the BBO
Data Feed via FBW primarily to comply
with customer priority obligations, such
as those outlined in CBOE Rule 6.45 (as
mentioned above, the BBO data
includes customer contracts at the
BBO). Floor Brokers who receive the
BBO data feed via FBW (as a facility of
CBOE) are not considered ‘‘Customers’’
of MDX to whom the BBO Data Fee
applies (unless the Floor Broker has a
separate market data agreement in place
with MDX) and accordingly are not
charged the BBO Data Fee.4
Fees
Prior to the beginning of trading on
March 1, 2017, the Exchange will no
longer offer FBWs to its Trading Permit
Holders (‘‘TPHs’’) and will deactivate
FBW logins on the trading floor.5 As of
March 1, 2017, Floor Brokers will need
another mechanism through which they
may access the BBO Data Feed. The
Exchange proposes to provide a reduced
cost version of the BBO Data Feed if
[sic] to Floor Brokers that elect to
receive the feed through a third-party
provided device so that they can meet
their customer priority obligations.
The Exchange is proposing a fee of
$100 per month, per Approved ThirdParty Device, for Floor Broker Users
accessing the BBO data feed on the
Exchange floor. Floor Broker User fees
are payable only for CBOE Floor Brokers
accessing the BBO data feed via
Approved Third-Party Devices for
managing and executing orders on the
CBOE trading floor. An ‘‘Approved
Third-Party Device’’ means any
computer, workstation or other item of
equipment, fixed or portable, that
receives, accesses and/or displays data
4 A Customer is any person, company or other
entity that, pursuant to a market data agreement
with MDX, is entitled to receive data, either directly
from MDX or through an authorized redistributor
(i.e., a Customer or an extranet service provider),
whether that data is distributed externally or used
internally. Floor Brokers receiving the BBO Data
Feed from CBOE via FBW do not receive the feed
via an approved redistributor. The MDX fee
schedule for CBOE data is located at https://
www.cboe.org/MDX/CSM/OBOOKMain.aspx.
5 See CBOE Regulatory Circular RG16–195.
E:\FR\FM\27MRN1.SGM
27MRN1
]]>Agencies
[Federal Register Volume 82, Number 57 (Monday, March 27, 2017)]
[Notices]
[Pages 15244-15247]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-05920]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-80283; File No. SR-NYSEMKT-2017-14]
Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed Rule Change To Amend Its
Organizational Documents, Company Guide, Price List, Fee Schedules,
Independence Policy and Rules To Change the Name of the Exchange to
NYSE American LLC
March 21, 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 March 16, 2017 NYSE MKT LLC (the ``Exchange'' or ``NYSE
MKT'') filed with the Securities and Exchange Commission (the
``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.
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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, in connection with its name change to NYSE
American LLC, to amend certain organizational documents, the NYSE MKT
LLC Company Guide (``Company Guide''), the NYSE MKT Equities Price List
(``Price List''), the NYSE Amex Options Fee Schedule (``Fee
Schedule''), the NYSE MKT LLC Equities Proprietary Market Data Fees
(``Market Data Fees''), the Independence Policy of the Board of
Directors (``Independence Policy''), and rules of the Exchange to
reflect that name change. The proposed 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
[[Page 15245]]
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
NYSE MKT proposes, in connection with its name change to NYSE
American LLC (``NYSE American''), to amend certain organizational
documents, the Company Guide, Price List, Fee Schedule, Market Data
Fees, Independence Policy, and rules of the Exchange to reflect that
name change.
Name Change of the Exchange
In 2008, NYSE Euronext acquired the American Stock Exchange LLC
(``Amex''), as a result of which the Exchange, as the successor entity
to Amex, became a wholly owned subsidiary of NYSE Group, Inc. At that
time, the Exchange was named ``NYSE Alternext US LLC.'' \4\ In 2009,
the name of the Exchange was changed to ``NYSE Amex LLC'' \5\ and in
2012 it was changed to ``NYSE MKT LLC.'' \6\ The Exchange has now
determined that for marketing purposes it would be desirable to change
the name of the Exchange to ``NYSE American LLC.''
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\4\ See Securities Exchange Act Release No. 58673 (September 29,
2008), 73 FR 57707 (October 3, 2008) (SR-Amex-2008-62).
\5\ See Securities Exchange Act Release No. 59575 (March 13,
2009), 74 FR 11803 (March 19, 2009) (SR-NYSEALTR-2009-24).
\6\ See Securities Exchange Act Release No. 67037 (May 21,
2012), 77 FR 31415 (May 25, 2012) (SR-NYSEAmex-2012-32).
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In connection with the name change, the Exchange proposes to amend
the following documents as described below:
Certificate of Formation: The Exchange proposes to replace
``NYSE MKT LLC'' with ``NYSE American LLC'' in number 1 of the
certificate of formation and to make conforming changes to the title.
Tenth Amended and Restated Operating Agreement of NYSE MKT
LLC: The Exchange proposes to replace ``NYSE MKT LLC'' with ``NYSE
American LLC'' in Article I, Section 1.01 (Name) and to replace ``NYSE
MKT DCRC'' with ``NYSE American DCRC'' in Article II, Section 2.03
(Board). The Exchange also proposes to make conforming changes to the
title, preamble, recitals, and signature line.
Company Guide: The Exchange proposes to replace ``NYSE MKT
LLC'' with ``NYSE American LLC'' in the title, Section 211(c) (Original
Listing Application--General) and Section 350 (Cancellation Notice),
and in the Appendix forms for an Initial Public Offering, Common Stock,
and Listing Agreement.
Price List: The Exchange proposes to replace ``NYSE MKT''
with ``NYSE American'' in the title and throughout the Price List.
Under ``Co-Location Fees,'' the Exchange proposes to replace ``NYSE MKT
Equities Price List'' with ``NYSE American Equities Price List'' and
``NYSE MKT Options Fee Schedule'' with ``NYSE American Options Fee
Schedule.'' Under ``Listing Fees,'' the Exchange proposes to replace
``NYSE MKT Company Guide'' with ``NYSE American Company Guide.''
Fee Schedule: The Exchange proposes to replace ``NYSE MKT
LLC'' with ``NYSE American LLC'' in the title. Additionally, the
Exchange proposes to replace all references to ``NYSE MKT'' with ``NYSE
American'' in ``Section V. Technology & System Access Fees--Co-Location
Fees.''
Market Data Fees: The Exchange proposes to replace ``NYSE
MKT LLC'' with ``NYSE American LLC'' in the title. Additionally, the
Exchange proposes to replace all references to ``NYSE MKT'' with ``NYSE
American'' in the product names and footnotes 1, 2, and 4.
Independence Policy: The Exchange proposes to replace
``NYSE MKT LLC'' with ``NYSE American LLC'' throughout the Independence
Policy.\7\ Additionally, the Exchange proposes to replace ``[Insert
name of relevant NYSE U.S. Regulated Subsidiary]'' with ``NYSE American
LLC.'' The text being replaced was used in prior filings because
several entities used the same Independence Policy.\8\
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\7\ In addition, the Exchange proposes to delete footnote 2 of
the Independence Policy, which has an obsolete reference to NYSE
Regulation, Inc. (``NYSE Regulation''). NYSE Regulation and NYSE
Market (DE), Inc. (``NYSE Market (DE)'') were previously parties to
a Delegation Agreement whereby the New York Stock Exchange LLC
delegated certain regulatory functions to NYSE Regulation and
certain market functions to NYSE Market (DE) (``Delegation
Agreement''). The Delegation Agreement was terminated when the New
York Stock Exchange LLC re-integrated its regulatory and market
functions. As a result, the two entities ceased being regulated
subsidiaries, and NYSE Regulation was merged out of existence. See
Securities Exchange Act Release No. 75991 (September 28, 2015), 80
FR 59837 (October 10, 2015) (SR-NYSE-2015-27).
\8\ Prior to the termination of the Delegation Agreement, the
same Independence Policy applied to the Exchange, the New York Stock
Exchange LLC, NYSE Market (DE), and NYSE Regulation. See Securities
Exchange Act Release Nos. 72156 (May 13, 2014), 79 FR 28782 (May 19,
2014) (SR-NYSEMKT-2014-41); 67564 (August 1, 2012), 77 FR 47161
(August 7, 2012) (SR-NYSE-2012-17; SR-NYSEArca-2012-59; SR-NYSEMKT-
2012-07).
---------------------------------------------------------------------------
In addition, the Exchange proposes to amend its rules as follows:
The Exchange proposes to replace ``NYSE MKT LLC'' with
``NYSE American LLC'' in definitions 11 (``The Exchange'') and 37
(``Company Guide''); Rule 341, Commentary .02 and .08 (Approval of
Registered Employees and Officers); Rule 1--Equities (The Exchange and
Related Entities); Rule 37--Equities (Visitors); Rule 98--Equities
(c)(6) (Operation of a DMM Unit); Rule 227--Equities Forms 6(a), 7(a),
and 12(a) (Depository Eligibility); Rule 497--Equities (a)(3)
(Additional Requirements for Listed Securities Issued by ICE or its
Affiliates); and Rule 900.2NY(45) and (47) (Definitions).
The Exchange proposes to replace ``NYSE MKT LLC'' with
``the Exchange'' in Rule 341, Commentary .08 (Approval of Registered
Employees and Officers).
The Exchange proposes to replace ``NYSE MKT Bonds'' with
``NYSE American Bonds'' in Rule 51--Equities (a), Supplementary
Material .20 (Hours for Business); Rule 72--Equities, Supplementary
Material .40 (Priority of Bids and Offers and Allocation of
Executions); Rule 86--Equities (NYSE MKT Bonds); Rule 119--Equities
(Change in Basis from ``And Interest'' to ``Flat''); and Rule 123B--
Equities, Supplementary Material .30 (Exchange Automated Order Routing
System).
In Rule 86--Equities (b)(2) and (c), the Exchange proposes
to replace ``NYSE MKT Bonds Limit Order'' with ``NYSE American Bonds
Limit Order''; ``NYSE MKT Bonds Reserve Order'' with ``NYSE American
Bonds Reserve Order''; ``NYSE MKT Bonds Good `Til Cancelled Order''
with NYSE American Bonds Good `Til Cancelled Order''; and ``NYSE MKT
Bonds Day Order'' with ``NYSE American Bonds Day Order.''
The Exchange proposes to replace ``NYSE MKT Company
Guide'' with ``Company Guide'' in Rule 2210--Equities (c)(7)(N)
(Communications with the Public).
The Exchange proposes to replace ``NYSE MKT'' with ``NYSE
American'' in Rule 3170--Equities (a)(3) (Tape Recording of Registered
Persons by Certain Firms).
In the Trading of Options Contracts portion of the
rulebook, the Exchange proposes to replace ``NYSE MKT'' with
``Exchange'' in Section 15 (Flexible Exchange (``FLEX'') Options), Rule
900G(b) (Applicability and Definitions); Rule 903G(b)(4) and (5) (Terms
of FLEX Options); and Rule 975NY(k)(3)(A) (Nullification and Adjustment
of Options Transactions including Obvious Errors).
[[Page 15246]]
None of the foregoing changes are substantive.\9\ The name change
and the above-listed changes would become operative upon the
effectiveness of an amendment to the Exchange's Certificate of
Formation, which is expected to be no later than June 30, 2017. The
Exchange will announce the name change via Trader Update.
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\9\ The Exchange will submit subsequent rule filings as
necessary to make any technical corrections to proposed rule changes
that are pending as of the date of submission of this filing and
approved by the Commission thereafter.
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2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Exchange Act \10\ in general, and with Section
6(b)(1) \11\ in particular, in that it enables the Exchange to be so
organized as to have the capacity to be able to carry out the purposes
of the Exchange Act and to comply, and to enforce compliance by its
exchange members and persons associated with its exchange members, with
the provisions of the Exchange Act, the rules and regulations
thereunder, and the rules of the Exchange.
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\10\ 15 U.S.C. 78f(b).
\11\ 15 U.S.C. 78f(b)(1).
---------------------------------------------------------------------------
The proposed rule change is a non-substantive change and does not
impact the governance or ownership of the Exchange. The Exchange
believes that the proposed rule change would enable the Exchange to
continue to be so organized as to have the capacity to carry out the
purposes of the Exchange Act and comply and enforce compliance with the
provisions of the Exchange Act by its members and persons associated
with its members, because ensuring that the Exchange's governing
documents, Company Guide, Price List, Fee Schedule, Market Data Fees,
Independence Policy and rulebook accurately reflect the name of the
Exchange would contribute to the orderly operation of the Exchange by
adding clarity and transparency to such documents and rules.
For similar reasons, the Exchange also believes that the proposed
rule change is consistent with Section 6(b)(5) of the Act,\12\ in that
it 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 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.
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that the proposed rule change would remove
impediments to and perfect the mechanism of a free and open market and
a national market system by ensuring that market participants can more
easily navigate, understand and comply with the Exchange's governing
documents, Company Guide, Price List, Fee Schedule, Market Data Fees,
Independence Policy and rulebook. The Exchange believes that, by
ensuring that such documents and rulebook accurately reflect the name
of the Exchange, the proposed rule change would reduce potential
investor or market participant confusion.
The Exchange believes that the proposed changes to replace
``[Insert name of relevant NYSE U.S. Regulated Subsidiary]'' with
``NYSE American LLC'' would contribute to the orderly operation of the
Exchange by adding clarity and transparency to such document.
Further, the Exchange believes that the proposed deletion of
footnote two of the Independence Policy would remove impediments to,
and perfect the mechanism of a free and open market and a national
market system and, in general, protect investors and the public
interest because the change would eliminate an obsolete reference to
NYSE Regulation, thereby reducing potential confusion. Market
participants and investors would not be harmed and in fact could
benefit from the increased clarity and transparency in the Independence
Policy, ensuring that market participants could more easily understand
the Independence Policy.
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 proposed rule change is
not intended to address competitive issues but rather is concerned
solely with updating the Exchange's organizational documents, Company
guide, Price List, Fee Schedule, Market Data Fees, Independence Policy
and rules to reflect its name change.
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
The proposed rule change has become effective pursuant to Section
19(b)(3)(A) of the Ac t\13\ and Rule 19b-4(f)(3) \14\ thereunder in
that the proposed rule change is concerned solely with the
administration of the Exchange.
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\13\ 15 U.S.C. 78s(b)(3)(A).
\14\ 17 CFR 240.19b-4(f)(3).
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At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may 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 under Section
19(b)(2)(B) \15\ of the Act to determine whether the proposed rule
change should be approved or disapproved.
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\15\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------
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 (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number SR-NYSEMKT-2017-14 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-NYSEMKT-2017-14. 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 (https://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
[[Page 15247]]
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 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-NYSEMKT-2017-14 and should be submitted on or before
April 17, 2017.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
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\16\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-05920 Filed 3-24-17; 8:45 am]
BILLING CODE 8011-01-P
