Self-Regulatory Organizations; New York Stock Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Name Changes of Its Ultimate Parent, IntercontinentalExchange Group, Inc., and Its Indirect Parents, IntercontinentalExchange, Inc. and NYSE Euronext Holdings LLC, 28784-28786 [2014-11438]
Download as PDF
28784
Federal Register / Vol. 79, No. 96 / Monday, May 19, 2014 / Notices
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. The name change at ICE
Group will restore to the public
company the name it used from
inception until late 2013; the name
change at ICE Inc. reduces the risk of
confusing ICE Inc. with ICE Group; and
the name change at NYX Holdings
eliminates ‘‘Euronext’’ in anticipation of
the announced plan to sell Euronext.
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 relates to internal
name changes only.
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.
mstockstill on DSK4VPTVN1PROD with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
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 for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 7 and Rule 19b–4(f)(6)
thereunder.8
The Exchange has asked the
Commission to waive the 30-day
operative delay so that the proposal may
become operative immediately upon
filing. The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest as it
will enable the Exchange to implement
a name change as soon as practicable
7 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). As required under Rule
19b–4(f)(6)(iii), the Exchange provided the
Commission with written notice of its intent to file
the proposed rule change, along with a brief
description and the text of the proposed rule
change, at least five business days prior to the date
of filing of the proposed rule change, or such
shorter time as designated by the Commission.
8 17
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17:17 May 16, 2014
Jkt 232001
after it is approved by the stockholders
of ICE Group in connection with the
acquisition of NYSE Euronext. For this
reason, the Commission designates the
proposed rule change to be operative
upon filing.9
At any time within 60 days of the
filing of the 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. If the
Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
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–2014–41 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–2014–41. 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
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for Web site viewing and
9 For purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
PO 00000
Frm 00114
Fmt 4703
Sfmt 4703
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–2014–41 and should be
submitted on or before June 9, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–11436 Filed 5–16–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–72158; File No. SR–NYSE–
2014–23]
Self-Regulatory Organizations; New
York Stock Exchange, LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Name Changes of Its Ultimate Parent,
IntercontinentalExchange Group, Inc.,
and Its Indirect Parents,
IntercontinentalExchange, Inc. and
NYSE Euronext Holdings LLC
May 13, 2014.
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 May 5,
2014, New York Stock Exchange LLC
(‘‘NYSE’’ or the ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I and II 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The New York Stock Exchange, LLC
(the ‘‘Exchange’’), a New York limited
liability company, registered national
10 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
E:\FR\FM\19MYN1.SGM
19MYN1
mstockstill on DSK4VPTVN1PROD with NOTICES
Federal Register / Vol. 79, No. 96 / Monday, May 19, 2014 / Notices
securities exchange and self-regulatory
organization, is submitting this rule
filing (the ‘‘Proposed Rule Change’’) to
the U.S. Securities and Exchange
Commission (the ‘‘Commission’’) in
connection with the change in name of
the Exchange’s ultimate parent entity,
IntercontinentalExchange Group, Inc., a
Delaware corporation (‘‘ICE Group’’),
ICE Group’s direct subsidiary (and the
Exchange’s indirect parent),
IntercontinentalExchange, Inc., a
Delaware corporation (‘‘ICE Inc.’’), and
ICE Inc.’s direct subsidiary (and the
Exchange’s indirect parent), NYSE
Euronext Holdings LLC, a Delaware
limited liability company (‘‘NYX
Holdings’’). ICE Group intends to
change its name to Intercontinental
Exchange, Inc. ICE Inc. will change its
name to Intercontinental Exchange
Holdings, Inc. and NYX Holdings will
change its name to NYSE Holdings LLC.
NYX Holdings owns 100% of the
equity interest of NYSE Group, Inc., a
Delaware corporation (‘‘NYSE Group’’),
which in turn directly or indirectly
owns (1) 100% of the equity interest of
three registered national securities
exchanges and self-regulatory
organizations (together, the ‘‘NYSE
Exchanges’’)—the Exchange, NYSE
Arca, Inc. (‘‘NYSE Arca’’) and NYSE
MKT LLC—and (2) 100% of the equity
interest of NYSE Market (DE), Inc.,
NYSE Regulation, Inc., NYSE Arca
L.L.C., NYSE Arca Equities, Inc. (‘‘NYSE
Arca Equities’’) and NYSE Amex
Options LLC. Each of NYSE Arca and
NYSE MKT will be separately filing a
proposed rule change in connection
with the matters addressed herein that
will be substantially the same as the
Proposed Rule Change.
The Exchange proposes to amend its
Amended and Restated Operating
Agreement, the Rules of the Exchange,
as well as organizational documents of
ICE Group, ICE Inc., NYX Holdings,
NYSE Group, the NYSE Exchanges,
rules of NYSE MKT and NYSE ARCA
Equities, board independence policies
of ICE Group and subsidiaries, and the
Amended and Restated Trust Agreement
by and among NYX Euronext, NYSE
Group, and certain trustees, to reflect
the name changes described above. The
text of Exhibits 5A through 5O to the
proposed rule 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 [sic].
VerDate Mar<15>2010
17:17 May 16, 2014
Jkt 232001
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
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
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange is proposing, in
connection with the corporate name
change of the Exchange’s corporate
parents, to amend the organizational
documents of the Exchange, ICE Group,
ICE Inc., NYX Holdings, the NYSE
Exchanges, the rules of the Exchange,
NYSE MKT and NYSE ARCA Equities,
the board independence policies of ICE
Group and subsidiaries, and the
Amended and Restated Trust Agreement
by and among NYSE Euronext, NYSE
Group, and certain trustees.
Specifically,
• The Certificate of Amendment of
ICE Group’s Certificate of Incorporation
would remove the reference to
‘‘IntercontinentalExchange Group, Inc.’’,
and replace it with ‘‘Intercontinental
Exchange, Inc.’’ (see Exhibit 5A).
• The Second Amended and Restated
Bylaws of IntercontinentalExchange
Group, Inc. would be amended to
replace references to
‘‘IntercontinentalExchange Group, Inc.’’
with ‘‘Intercontinental Exchange, Inc.’’;
‘‘IntercontinentalExchange, Inc.’’ will be
replaced with ‘‘Intercontinental
Exchange Holdings, Inc.’’; ‘‘ICE Inc.’’
will be replaced with ‘‘ICE Holdings’’;
reference to ‘‘NYSE Euronext Holdings
LLC’’ will be replaced with ‘‘NYSE
Holdings LLC’’, and reference to ‘‘NYX
Holdings’’ will be replaced with ‘‘NYSE
Holdings’’. (see Exhibit 5B)
• The Independence Policy of the
Board of Directors of
IntercontinentalExchange Group, Inc.
will be amended to remove reference to
‘‘IntercontinentalExchange Group, Inc.’’
and replace it with reference to
‘‘Intercontinental Exchange, Inc.’’ (see
Exhibit 5C)
• The Fifth Amended and Restated
Certificate of Incorporation and Second
Amended and Restated Bylaws of
PO 00000
Frm 00115
Fmt 4703
Sfmt 4703
28785
IntercontinentalExchange, Inc. both
would be amended to replace
‘‘IntercontinentalExchange, Inc.’’ with
‘‘Intercontinental Exchange Holdings,
Inc.’’ References in these documents to
‘‘IntercontinentalExchange Group, Inc.’’
and ‘‘ICE Group’’ would be replaced
with ‘‘Intercontinental Exchange, Inc.’’
and ‘‘ICE’’, respectively. All references
to ‘‘NYSE Euronext Holdings LLC’’
would be replaced with ‘‘NYSE
Holdings LLC’’. (see Exhibits 5D and 5E)
• The Certificate of Formation of
NYSE Euronext Holdings LLC, as
amended, would be further amended to
change the name of the company to
NYSE Holdings LLC. (see Exhibit [sic]
F)
• The Fourth Amended and Restated
Limited Liability Company Agreement
of NYSE Euronext Holdings LLC would
be amended and restated to delete
reference to ‘‘NYSE Euronext Holdings
LLC’’ and replace it with ‘‘NYSE
Holdings LLC’’. All references in the
Agreement to
‘‘IntercontinentalExchange Group, Inc.’’,
‘‘IntercontinentalExchange, Inc.’’, and
‘‘ICE Group’’ would be replaced with
‘‘Intercontinental Exchange, Inc.’’,
‘‘Intercontinental Exchange Holdings,
Inc.’’ and ‘‘ICE’’, respectively. (see
Exhibit 5G)
• The Fifth Amended and Restated
Operating Agreement of the Exchange,
the Fourth Amended and Restated
Operating Agreement of NYSE MKT
LLC, the Third Amended and Restated
Bylaws of NYSE Market (DE), Inc. and
the Fifth Amended and Restated Bylaws
of NYSE Regulation, Inc. would be
amended to replace reference to
‘‘IntercontinentalExchange Group, Inc.’’
and ‘‘ICE Group’’ with ‘‘Intercontinental
Exchange, Inc.’’ and ‘‘ICE’’ respectively.
(see Exhibits 5H, 5I, 5J and 5K)
• The Rules of the Exchange and
NYSE MKT would be amended to
replace reference to
‘‘IntercontinentalExchange Group, Inc.’’,
‘‘ICE Group’’, ‘‘NYSE Euronext Holdings
LLC’’ and ‘‘NYX Holdings’’ with
‘‘Intercontinental Exchange Group, Inc.’’
[sic], ‘‘ICE’’, ‘‘NYSE Holdings LLC’’ and
‘‘NYSE Holdings’’. In addition, the rules
would be amended to include reference
to Intercontinental Exchange Holdings,
Inc.4 (see Exhibits 5L and 5M)
• The Rules of NYSE ARCA Equities
would be amended to delete reference to
‘‘IntercontinentalExchange Group, Inc.’’
and ‘‘ICE Group’’ and replace them with
‘‘Intercontinental Exchange, Inc.’’ and
‘‘ICE’’, respectively. (see Exhibit 5N)
• The Independence Policy of the
Board of Directors for each of New York
4 See NYSE MKT Rules 22 and 422, and NYSE
Rules 22 and 422.
E:\FR\FM\19MYN1.SGM
19MYN1
28786
Federal Register / Vol. 79, No. 96 / Monday, May 19, 2014 / Notices
Stock Exchange LLC, NYSE MKT LLC,
NYSE Market (DE), Inc. and NYSE
Regulation, Inc. would be amended to
delete reference to
‘‘IntercontinentalExchange Group, Inc.’’
and ‘‘ICE Group’’ and replace them with
‘‘Intercontinental Exchange, Inc.’’ and
‘‘ICE’’, respectively. (see Exhibit 5O)
• The Amended and Restated Trust
Agreement by and among NYSE
Euronext, NYSE Group, Inc., and certain
trustees, would be amended to reflect
that NYSE Euronext Holdings LLC will
be renamed ‘‘NYSE Holdings LLC’’. The
Trust Agreement also would be
amended to delete the definition of ‘‘ICE
Group’’ and replace it with a definition
of ‘‘ICE’’. (see Exhibit 5P)
• Resolutions of the board of directors
of ICE Group authorizing the name
changes are included as Exhibit 5Q.
None of the foregoing changes is
substantive.
2. Statutory Basis
The Exchange believes that the
Proposed Rule Change is consistent
with Section 6(b) of the Securities
Exchange Act of 1934 (the ‘‘Act’’),5 in
general, and Section 6(b)(5) of the Act,6
in particular, 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. The name change at ICE
Group will restore to the public
company the name it used from
inception until late 2013; the name
change at ICE Inc. reduces the risk of
confusing ICE Inc. with ICE Group; and
the name change at NYX Holdings
eliminates ‘‘Euronext’’ in anticipation of
the announced plan to sell Euronext.
mstockstill on DSK4VPTVN1PROD with NOTICES
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 relates to internal
name changes only.
5 15
U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
VerDate Mar<15>2010
17:17 May 16, 2014
Jkt 232001
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
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 for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 7 and Rule 19b–4(f)(6)
thereunder.8
The Exchange has asked the
Commission to waive the 30-day
operative delay so that the proposal may
become operative immediately upon
filing. The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest as it
will enable the Exchange to implement
a name change as soon as practicable
after it is approved by the stockholders
of ICE Group in connection with the
acquisition of NYSE Euronext. For this
reason, the Commission designates the
proposed rule change to be operative
upon filing.9
At any time within 60 days of the
filing of the 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. If the
Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
7 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b-4(f)(6). As required under Rule
19b-4(f)(6)(iii), the Exchange provided the
Commission with written notice of its intent to file
the proposed rule change, along with a brief
description and the text of the proposed rule
change, at least five business days prior to the date
of filing of the proposed rule change, or such
shorter time as designated by the Commission.
9 For purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
8 17
PO 00000
Frm 00116
Fmt 4703
Sfmt 9990
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–
NYSE–2014–23 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–NYSE–2014–23. 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
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–NYSE–
2014–23 and should be submitted on or
before June 9, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–11438 Filed 5–16–14; 8:45 am]
BILLING CODE 8011–01–P
10 17
E:\FR\FM\19MYN1.SGM
CFR 200.30–3(a)(12).
19MYN1
Agencies
[Federal Register Volume 79, Number 96 (Monday, May 19, 2014)]
[Notices]
[Pages 28784-28786]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-11438]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-72158; File No. SR-NYSE-2014-23]
Self-Regulatory Organizations; New York Stock Exchange, LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to Name Changes of Its Ultimate Parent,
IntercontinentalExchange Group, Inc., and Its Indirect Parents,
IntercontinentalExchange, Inc. and NYSE Euronext Holdings LLC
May 13, 2014.
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 May 5, 2014, New York Stock Exchange LLC (``NYSE'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I
and II 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.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The New York Stock Exchange, LLC (the ``Exchange''), a New York
limited liability company, registered national
[[Page 28785]]
securities exchange and self-regulatory organization, is submitting
this rule filing (the ``Proposed Rule Change'') to the U.S. Securities
and Exchange Commission (the ``Commission'') in connection with the
change in name of the Exchange's ultimate parent entity,
IntercontinentalExchange Group, Inc., a Delaware corporation (``ICE
Group''), ICE Group's direct subsidiary (and the Exchange's indirect
parent), IntercontinentalExchange, Inc., a Delaware corporation (``ICE
Inc.''), and ICE Inc.'s direct subsidiary (and the Exchange's indirect
parent), NYSE Euronext Holdings LLC, a Delaware limited liability
company (``NYX Holdings''). ICE Group intends to change its name to
Intercontinental Exchange, Inc. ICE Inc. will change its name to
Intercontinental Exchange Holdings, Inc. and NYX Holdings will change
its name to NYSE Holdings LLC.
NYX Holdings owns 100% of the equity interest of NYSE Group, Inc.,
a Delaware corporation (``NYSE Group''), which in turn directly or
indirectly owns (1) 100% of the equity interest of three registered
national securities exchanges and self-regulatory organizations
(together, the ``NYSE Exchanges'')--the Exchange, NYSE Arca, Inc.
(``NYSE Arca'') and NYSE MKT LLC--and (2) 100% of the equity interest
of NYSE Market (DE), Inc., NYSE Regulation, Inc., NYSE Arca L.L.C.,
NYSE Arca Equities, Inc. (``NYSE Arca Equities'') and NYSE Amex Options
LLC. Each of NYSE Arca and NYSE MKT will be separately filing a
proposed rule change in connection with the matters addressed herein
that will be substantially the same as the Proposed Rule Change.
The Exchange proposes to amend its Amended and Restated Operating
Agreement, the Rules of the Exchange, as well as organizational
documents of ICE Group, ICE Inc., NYX Holdings, NYSE Group, the NYSE
Exchanges, rules of NYSE MKT and NYSE ARCA Equities, board independence
policies of ICE Group and subsidiaries, and the Amended and Restated
Trust Agreement by and among NYX Euronext, NYSE Group, and certain
trustees, to reflect the name changes described above. The text of
Exhibits 5A through 5O to the proposed rule 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 [sic].
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
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
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange is proposing, in connection with the corporate name
change of the Exchange's corporate parents, to amend the organizational
documents of the Exchange, ICE Group, ICE Inc., NYX Holdings, the NYSE
Exchanges, the rules of the Exchange, NYSE MKT and NYSE ARCA Equities,
the board independence policies of ICE Group and subsidiaries, and the
Amended and Restated Trust Agreement by and among NYSE Euronext, NYSE
Group, and certain trustees. Specifically,
The Certificate of Amendment of ICE Group's Certificate of
Incorporation would remove the reference to ``IntercontinentalExchange
Group, Inc.'', and replace it with ``Intercontinental Exchange, Inc.''
(see Exhibit 5A).
The Second Amended and Restated Bylaws of
IntercontinentalExchange Group, Inc. would be amended to replace
references to ``IntercontinentalExchange Group, Inc.'' with
``Intercontinental Exchange, Inc.''; ``IntercontinentalExchange, Inc.''
will be replaced with ``Intercontinental Exchange Holdings, Inc.'';
``ICE Inc.'' will be replaced with ``ICE Holdings''; reference to
``NYSE Euronext Holdings LLC'' will be replaced with ``NYSE Holdings
LLC'', and reference to ``NYX Holdings'' will be replaced with ``NYSE
Holdings''. (see Exhibit 5B)
The Independence Policy of the Board of Directors of
IntercontinentalExchange Group, Inc. will be amended to remove
reference to ``IntercontinentalExchange Group, Inc.'' and replace it
with reference to ``Intercontinental Exchange, Inc.'' (see Exhibit 5C)
The Fifth Amended and Restated Certificate of
Incorporation and Second Amended and Restated Bylaws of
IntercontinentalExchange, Inc. both would be amended to replace
``IntercontinentalExchange, Inc.'' with ``Intercontinental Exchange
Holdings, Inc.'' References in these documents to
``IntercontinentalExchange Group, Inc.'' and ``ICE Group'' would be
replaced with ``Intercontinental Exchange, Inc.'' and ``ICE'',
respectively. All references to ``NYSE Euronext Holdings LLC'' would be
replaced with ``NYSE Holdings LLC''. (see Exhibits 5D and 5E)
The Certificate of Formation of NYSE Euronext Holdings
LLC, as amended, would be further amended to change the name of the
company to NYSE Holdings LLC. (see Exhibit [sic] F)
The Fourth Amended and Restated Limited Liability Company
Agreement of NYSE Euronext Holdings LLC would be amended and restated
to delete reference to ``NYSE Euronext Holdings LLC'' and replace it
with ``NYSE Holdings LLC''. All references in the Agreement to
``IntercontinentalExchange Group, Inc.'', ``IntercontinentalExchange,
Inc.'', and ``ICE Group'' would be replaced with ``Intercontinental
Exchange, Inc.'', ``Intercontinental Exchange Holdings, Inc.'' and
``ICE'', respectively. (see Exhibit 5G)
The Fifth Amended and Restated Operating Agreement of the
Exchange, the Fourth Amended and Restated Operating Agreement of NYSE
MKT LLC, the Third Amended and Restated Bylaws of NYSE Market (DE),
Inc. and the Fifth Amended and Restated Bylaws of NYSE Regulation, Inc.
would be amended to replace reference to ``IntercontinentalExchange
Group, Inc.'' and ``ICE Group'' with ``Intercontinental Exchange,
Inc.'' and ``ICE'' respectively. (see Exhibits 5H, 5I, 5J and 5K)
The Rules of the Exchange and NYSE MKT would be amended to
replace reference to ``IntercontinentalExchange Group, Inc.'', ``ICE
Group'', ``NYSE Euronext Holdings LLC'' and ``NYX Holdings'' with
``Intercontinental Exchange Group, Inc.'' [sic], ``ICE'', ``NYSE
Holdings LLC'' and ``NYSE Holdings''. In addition, the rules would be
amended to include reference to Intercontinental Exchange Holdings,
Inc.\4\ (see Exhibits 5L and 5M)
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\4\ See NYSE MKT Rules 22 and 422, and NYSE Rules 22 and 422.
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The Rules of NYSE ARCA Equities would be amended to delete
reference to ``IntercontinentalExchange Group, Inc.'' and ``ICE Group''
and replace them with ``Intercontinental Exchange, Inc.'' and ``ICE'',
respectively. (see Exhibit 5N)
The Independence Policy of the Board of Directors for each
of New York
[[Page 28786]]
Stock Exchange LLC, NYSE MKT LLC, NYSE Market (DE), Inc. and NYSE
Regulation, Inc. would be amended to delete reference to
``IntercontinentalExchange Group, Inc.'' and ``ICE Group'' and replace
them with ``Intercontinental Exchange, Inc.'' and ``ICE'',
respectively. (see Exhibit 5O)
The Amended and Restated Trust Agreement by and among NYSE
Euronext, NYSE Group, Inc., and certain trustees, would be amended to
reflect that NYSE Euronext Holdings LLC will be renamed ``NYSE Holdings
LLC''. The Trust Agreement also would be amended to delete the
definition of ``ICE Group'' and replace it with a definition of
``ICE''. (see Exhibit 5P)
Resolutions of the board of directors of ICE Group
authorizing the name changes are included as Exhibit 5Q.
None of the foregoing changes is substantive.
2. Statutory Basis
The Exchange believes that the Proposed Rule Change is consistent
with Section 6(b) of the Securities Exchange Act of 1934 (the
``Act''),\5\ in general, and Section 6(b)(5) of the Act,\6\ in
particular, 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. The name change at ICE Group will restore to the
public company the name it used from inception until late 2013; the
name change at ICE Inc. reduces the risk of confusing ICE Inc. with ICE
Group; and the name change at NYX Holdings eliminates ``Euronext'' in
anticipation of the announced plan to sell Euronext.
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\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(5).
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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
relates to internal name changes only.
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
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 for 30
days from the date on which it was filed, or such shorter time as the
Commission may designate, the proposed rule change has become effective
pursuant to Section 19(b)(3)(A) of the Act \7\ and Rule 19b-4(f)(6)
thereunder.\8\
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\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written
notice of its intent to file the proposed rule change, along with a
brief description and the text of the proposed rule change, at least
five business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission.
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The Exchange has asked the Commission to waive the 30-day operative
delay so that the proposal may become operative immediately upon
filing. The Commission believes that waiving the 30-day operative delay
is consistent with the protection of investors and the public interest
as it will enable the Exchange to implement a name change as soon as
practicable after it is approved by the stockholders of ICE Group in
connection with the acquisition of NYSE Euronext. For this reason, the
Commission designates the proposed rule change to be operative upon
filing.\9\
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\9\ For purposes only of waiving the 30-day operative delay, the
Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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At any time within 60 days of the filing of the 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. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule 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-NYSE-2014-23 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-NYSE-2014-23. 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 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-NYSE-2014-23 and should be
submitted on or before June 9, 2014.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-11438 Filed 5-16-14; 8:45 am]
BILLING CODE 8011-01-P