Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Amend the Rules of the Exchange, the NYSE MKT Equities Price List, the NYSE Amex Options Fee Schedule, and the NYSE Amex Options Proprietary Market Data Fees, 24764-24766 [2017-10983]

Download as PDF 24764 Federal Register / Vol. 82, No. 102 / Tuesday, May 30, 2017 / Notices sradovich on DSK3GMQ082PROD with NOTICES On March 28, 2017, the Exchange filed Amendment No. 1 to the proposed rule change.8 Amendment No. 1 was published for comment in the Federal Register on April 27, 2017.9 On April 27, 2017, the Exchange filed Amendment No. 2 to the proposed rule change.10 The Commission has received no comments on the proposed rule change. Section 19(b)(2) of the Act 11 provides that, after initiating disapproval proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register on December 1, 2016. May 30, 2017 is 180 days from that date, and July 29, 2017 is 240 days from that date. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,12 designates July 29, national securities exchange be ‘‘designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade,’’ and ‘‘to protect investors and the public interest.’’ See id. at 12252. 8 Amendment No. 1 is available at: https:// www.sec.gov/comments/sr-nysemkt-2016-103/ nysemkt2016103-1672987-149219.pdf. 9 See Securities Exchange Act Release No. 80500 (Apr. 21, 2017), 82 FR 19416. 10 In Amendment No. 2, the Exchange: (1) Corrected the cross-reference in footnote 66 of the filing to read ‘‘See supra note 63’’; (2) amended proposed Rule 5.2E(j)(6)(B)(V)(2)(a) to read ‘‘may’’ instead of ‘‘will’’; (3) amended proposed Rule 5.5E(m)(1)(c) to clarify that the regulatory function described therein would be exercised by ‘‘the Exchange’’ instead of ‘‘Regulation’’; (4) amended Supplementary Material .01 to proposed Rule 8.200E to erase the repetitive words ‘‘are satisfied’’ at the end of the introductory paragraph; and (5) amended proposed Rule 8.700E(h) to add at the beginning of the paragraph the sentence ‘‘The Exchange will file separate proposals under Section 19(b) of the Securities Exchange Act of 1934 before listing and trading separate and distinct Managed Trust Securities.’’ Amendment No. 2 is available at: https://www.sec.gov/comments/sr-nysemkt-2016103/nysemkt2016103-1724667-150689.pdf. Because Amendment No. 2 to the proposed rule change does not materially alter the substance of the proposed rule change or raise unique or novel regulatory issues, Amendment No. 2 is not subject to notice and comment. 11 15 U.S.C. 78s(b)(2). 12 Id. VerDate Sep<11>2014 19:59 May 26, 2017 Jkt 241001 2017 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR–NYSEMKT–2016–103). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–10974 Filed 5–26–17; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–80748; File No. SR– NYSEMKT–2017–20] Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Amend the Rules of the Exchange, the NYSE MKT Equities Price List, the NYSE Amex Options Fee Schedule, and the NYSE Amex Options Proprietary Market Data Fees May 23, 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 May 19, 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. 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 (‘‘NYSE American’’), to rebrand the Exchange’s facility for trading options (‘‘Options Market’’), from ‘‘NYSE Amex Options’’ to ‘‘NYSE American Options’’ and to amend the rules of the Exchange, the NYSE MKT Equities Price List (‘‘Price List’’), the NYSE Amex Options Fee Schedule (‘‘Fee Schedule’’), and the NYSE Amex Options Proprietary Market Data Fees (‘‘Options Market Data Fees’’) to reflect that rebranding. The Exchange also proposes to delete obsolete references in the rules and the NYSE MKT LLC Company Guide (‘‘Company 13 17 CFR 200.30–3(a)(57). U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 1 15 PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 Guide’’). 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 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 NYSE MKT proposes, in connection with its name change to NYSE American LLC (‘‘NYSE American’’),4 to rebrand the Exchange’s Options Market from ‘‘NYSE Amex Options’’ to ‘‘NYSE American Options.’’ Therefore, the Exchange now proposes to amend the rules of the Exchange, Company Guide, Price List, Fee Schedule, and Options Market Data Fees to reflect that rebranding. The Exchange also proposes to delete obsolete references to a former name from the rules and the Company Guide.5 Background Option contracts may be approved for listing and trading on the Exchange’s Options Market, which is referred to as ‘‘NYSE Amex Options.’’ 6 On March 16, 2017, NYSE MKT filed rule changes with the Commission in connection with its name change to NYSE American LLC.7 The Exchange has now determined that for consistency and marketing purposes it would be 4 See Securities Exchange Act Release No. 80283 (March 21, 2017), 82 FR 15244 (March 27, 2017) (SR–NYSEMKT–2017–14). 5 See Securities Exchange Act Release No. 67037 (May 21, 2012), 77 FR 31415 (May 25, 2012) (SR– NYSEAmex–2012–32). 6 See Rule 900.2NY(47) (Definitions) (providing that ‘‘[t]he term ‘NYSE Amex Options’ shall refer to those aspects of the Self-Regulatory Organization and the Trading Facilities business of NYSE MKT LLC licensed to trade Options by the Exchange’’). See also Section 900 NY (Rules Principally Applicable to Trading of Options Contracts) of the Exchange’s Rules. 7 See Securities Exchange Act Release No. 80283, supra note 4. E:\FR\FM\30MYN1.SGM 30MYN1 Federal Register / Vol. 82, No. 102 / Tuesday, May 30, 2017 / Notices desirable to rebrand the Options Market from ‘‘NYSE Amex Options’’ to ‘‘NYSE American Options.’’ 8 The proposed rule changes would become operative upon the effectiveness of the NYSE MKT name change to NYSE American, which is expected to be no later than July 30, 2017. The Exchange notes that the name change originally was expected to become effective no later than June 30, 2017.9 Because the Exchange now anticipates that the name change will become effective at a subsequent date, not only the proposed rule changes, discussed below, but also the rule changes filed on March 16, 2017 10 in connection with the name change to NYSE American, would become operative upon the effectiveness of the NYSE MKT name change to NYSE American, which is expected to be no later than July 30, 2017. The Exchange will announce via Trader Notice the effective date of the name change. sradovich on DSK3GMQ082PROD with NOTICES Proposed Changes In connection with the rebranding of the Options Market, the Exchange proposes to amend the rules as described below: • The Exchange proposes to change the name of its trading permit from ‘‘Amex Trading Permit’’ to ‘‘American Trading Permit.’’ Consistent with that change, it proposes to change the terms ‘‘Amex Trading Permits’’ and ‘‘Amex Trading Permit Holder’’ to ‘‘American Trading Permits’’ and ‘‘American Trading Permit Holder,’’ respectively. To implement the change, it proposes to replace ‘‘Amex’’ with ‘‘American’’ in Rule 350 (Ownership Requirements); Rule 353 (Amex Trading Permit Requirements); Rule 353A (Revocable Privilege; Termination of an Amex Trading Permit); Rule 358 (Processing Fees and Other Charges Associated with Amex Trading Permit); Rule 358A (Special Charge and Charge Upon Options Transactions); Rule 359 (Application and Termination Forms); Rule 359B (Limited Transferability); and, where applicable, in the respective title of the aforementioned rules. • The Exchange proposes to change the term ‘‘NYSE Amex Options Trading 8 NYSE Amex Options LLC, a Delaware limited liability company, operates the Options Market. See Securities Exchange Act Release No. 64742 (June 24, 2011), 76 FR 38436 (June 30, 2011) (SR– NYSEAmex–2011–18), at 38436. The Exchange proposes to rebrand the name of the Options Market, but does not propose to change the name of NYSE Amex Options LLC. 9 See Securities Exchange Act Release No. 80283, supra note 4, at 15246. 10 See Securities Exchange Act Release No. 80283 (March 21, 2017), 82 FR 15244 (March 27, 2017) (SR–NYSEMKT–2017–14). VerDate Sep<11>2014 19:59 May 26, 2017 Jkt 241001 Floor’’ to ‘‘NYSE American Options Trading Floor’’. To implement the change, it proposes to replace ‘‘Amex’’ with ‘‘American’’ in Rule 6A—Equities (‘Trading Floor’) and Rule 36—Equities (Communications between Exchange and Members’ Offices), Supplementary Material .21, .23, and .70. • In Rule 70—Equities (Execution of Floor Broker Interest), Supplementary Material .40, the Exchange proposes to replace ‘‘Amex’’ with ‘‘American’’ in the term ‘‘NYSE Amex option.’’ • In Rule 900.2NY (Definitions), the Exchange proposes to amend ‘‘NYSE Amex Options’’ to the term ‘‘NYSE American Options’’ and ‘‘Amex Trading Permit’’ to the term ‘‘American Trading Permit’’. To implement the change, the Exchange proposes to replace ‘‘Amex’’ with ‘‘American’’ throughout the rule. • In Rule 902NY (Admission and Conduct on the Options Trading Floor), the Exchange proposes to replace ‘‘Amex’’ with ‘‘American’’ in the terms ‘‘Officer of NYSE Amex Options’’, ‘‘NYSE Amex Options automated trading system’’, and ‘‘Reserve Floor Market Maker Amex Trading Permit.’’ • In Rule 1000—AEMI (Portfolio Depository Receipts), Commentary .03 and .06, and Rule 1000A–AEMI (Index Fund Shares), Commentary .02 and .05, the Exchange proposes to delete ‘‘Amex’’ from the term ‘‘Amex Company Guide’’, consistent with the definition of ‘‘Company Guide’’ in the Exchange’s rules.11 In addition, the Exchange proposes to amend the following documents as described below: • Fee Schedule: The Exchange proposes to replace ‘‘Amex’’ with ‘‘American’’ in the references to ‘‘NYSE Amex Options’’ in the title and throughout the Fee Schedule. The Exchange also proposes to replace ‘‘Amex’’ with ‘‘American’’ in the terms ‘‘NYSE Amex Options Market Maker’’, ‘‘NYSE Amex’’, ‘‘NYSE Amex Options Floor Market Maker’’, ‘‘NYSE Amex Options Market Making firm’’ and ‘‘Amex Customer Engagement (‘‘ACE’’) Program.’’ Additionally, the Exchange proposes to make a technical correction to the term ‘‘NYSE Amex Market Maker’’ by adding the missing word ‘‘Options’’ and updating such reference to ‘‘NYSE American Options Market Maker.’’ • Price List: Under ‘‘Co-Location Fees,’’ the Exchange proposes to replace ‘‘Amex’’ with ‘‘American’’ in the term ‘‘NYSE Amex Options.’’ • Options Market Data Fees: The Exchange proposes to replace references 11 See Definition 37 (‘‘Company Guide’’) in the General and Floor Rules. PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 24765 to ‘‘Amex’’ with ‘‘American’’ found in the title, headings, and product names throughout the Options Market Data Fees. The Exchange also proposes to clean up obsolete references to the Exchange’s former name, Amex, as follows: • When the Exchange’s name was changed from NYSE Amex LLC to NYSE MKT LLC, it changed its rule naming convention by replacing ‘‘—NYSE Amex Equities’’ with ‘‘—Equities’’.12 However, Rule 5210—Equities (Publication of Transactions and Quotations), Supplementary Material .01, retains cross references using the old naming convention. The Exchange accordingly proposes to update such references to ‘‘—NYSE Amex Equities’’ rules to ‘‘— Equities’’ rules. • In Sec.137 (Depository Eligibility) of the Company Guide, the Exchange proposes to replace ‘‘Amex Rule 777’’ with ‘‘Rule 777.’’ None of the foregoing changes are substantive.13 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Exchange Act 14 in general, and with Section 6(b)(1) 15 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 rules, Price List, Fee Schedule, and Options Market Data Fees accurately reflect the name of the Options Market would contribute to the orderly operation of the Exchange by 12 See Securities Exchange Act Release No. 67037 (May 21, 2012), 77 FR 31415 (May 25, 2012) (SR– NYSEAmex–2012–32), at 31416. For example, Rule 0—NYSE Amex Equities became Rule 0—Equities. 13 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. 14 15 U.S.C. 78f(b). 15 15 U.S.C. 78f(b)(1). E:\FR\FM\30MYN1.SGM 30MYN1 24766 Federal Register / Vol. 82, No. 102 / Tuesday, May 30, 2017 / Notices 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. B. Self-Regulatory Organization’s Statement on Burden on Competition sradovich on DSK3GMQ082PROD with NOTICES 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,16 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 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 rules, Price List, Fee Schedule, and Options Market Data Fees. The Exchange believes that, by ensuring that such documents and rulebook accurately reflect the name of the Options Market, which aligns with the name of the Exchange, the proposed rule change would reduce potential investor or market participant confusion. The Exchange believes that eliminating obsolete references to the Exchange’s previous name would not be inconsistent with the public interest and the protection of investors because investors will not be harmed and in fact would benefit from increased transparency, thereby reducing potential confusion. Removing such obsolete references will also further the goal of transparency and add clarity to the Exchange’s rules and Company Guide. 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–2017–20. 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 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 rules, Company Guide, Price List, Fee Schedule, and Options Market Data Fees to reflect the new name of the Exchange and the subsequent related rebranding of its options business. 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 Act 17 and Rule 19b–4(f)(3) 18 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) 19 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–2017–20 on the subject line. 17 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(3). 19 15 U.S.C. 78s(b)(2)(B). 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– NYSEMKT–2017–20 and should be submitted on or before June 20, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.20 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–10983 Filed 5–26–17; 8:45 am] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #15132 and #15133] Oklahoma Disaster #OK–00113 U.S. Small Business Administration. ACTION: Notice. AGENCY: This is a notice of an Administrative declaration of a disaster for the State of OKLAHOMA dated 05/22/2017. Incident: Flooding, Straight-line Winds, Tornadoes, Severe Storms and Snow. Incident Period: 04/28/2017 through 05/02/2017. DATES: Effective Date: 05/22/2017. Physical Loan Application Deadline Date: 07/21/2017. Economic Injury (EIDL) Loan Application Deadline Date: 02/22/2018. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. SUMMARY: 18 17 16 15 U.S.C. 78f(b)(5). VerDate Sep<11>2014 19:59 May 26, 2017 Jkt 241001 PO 00000 Frm 00108 Fmt 4703 20 17 Sfmt 4703 E:\FR\FM\30MYN1.SGM CFR 200.30–3(a)(12). 30MYN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 82, Number 102 (Tuesday, May 30, 2017)]
[Notices]
[Pages 24764-24766]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-10983]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80748; File No. SR-NYSEMKT-2017-20]

Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed Change To Amend the Rules of the
Exchange, the NYSE MKT Equities Price List, the NYSE Amex Options Fee
Schedule, and the NYSE Amex Options Proprietary Market Data Fees

May 23, 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 May 19, 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.
---------------------------------------------------------------------------

\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 Exchange proposes, in connection with its name change to NYSE
American LLC (``NYSE American''), to rebrand the Exchange's facility
for trading options (``Options Market''), from ``NYSE Amex Options'' to
``NYSE American Options'' and to amend the rules of the Exchange, the
NYSE MKT Equities Price List (``Price List''), the NYSE Amex Options
Fee Schedule (``Fee Schedule''), and the NYSE Amex Options Proprietary
Market Data Fees (``Options Market Data Fees'') to reflect that
rebranding. The Exchange also proposes to delete obsolete references in
the rules and the NYSE MKT LLC Company Guide (``Company Guide''). 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
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
NYSE MKT proposes, in connection with its name change to NYSE
American LLC (``NYSE American''),\4\ to rebrand the Exchange's Options
Market from ``NYSE Amex Options'' to ``NYSE American Options.''
Therefore, the Exchange now proposes to amend the rules of the
Exchange, Company Guide, Price List, Fee Schedule, and Options Market
Data Fees to reflect that rebranding.
---------------------------------------------------------------------------

\4\ See Securities Exchange Act Release No. 80283 (March 21,
2017), 82 FR 15244 (March 27, 2017) (SR-NYSEMKT-2017-14).
---------------------------------------------------------------------------

The Exchange also proposes to delete obsolete references to a
former name from the rules and the Company Guide.\5\
---------------------------------------------------------------------------

\5\ See Securities Exchange Act Release No. 67037 (May 21,
2012), 77 FR 31415 (May 25, 2012) (SR-NYSEAmex-2012-32).
---------------------------------------------------------------------------

Background

Option contracts may be approved for listing and trading on the
Exchange's Options Market, which is referred to as ``NYSE Amex
Options.'' \6\ On March 16, 2017, NYSE MKT filed rule changes with the
Commission in connection with its name change to NYSE American LLC.\7\
The Exchange has now determined that for consistency and marketing
purposes it would be

[[Page 24765]]

desirable to rebrand the Options Market from ``NYSE Amex Options'' to
``NYSE American Options.'' \8\
---------------------------------------------------------------------------

\6\ See Rule 900.2NY(47) (Definitions) (providing that ``[t]he
term `NYSE Amex Options' shall refer to those aspects of the Self-
Regulatory Organization and the Trading Facilities business of NYSE
MKT LLC licensed to trade Options by the Exchange''). See also
Section 900 NY (Rules Principally Applicable to Trading of Options
Contracts) of the Exchange's Rules.
\7\ See Securities Exchange Act Release No. 80283, supra note 4.
\8\ NYSE Amex Options LLC, a Delaware limited liability company,
operates the Options Market. See Securities Exchange Act Release No.
64742 (June 24, 2011), 76 FR 38436 (June 30, 2011) (SR-NYSEAmex-
2011-18), at 38436. The Exchange proposes to rebrand the name of the
Options Market, but does not propose to change the name of NYSE Amex
Options LLC.
---------------------------------------------------------------------------

The proposed rule changes would become operative upon the
effectiveness of the NYSE MKT name change to NYSE American, which is
expected to be no later than July 30, 2017.
The Exchange notes that the name change originally was expected to
become effective no later than June 30, 2017.\9\ Because the Exchange
now anticipates that the name change will become effective at a
subsequent date, not only the proposed rule changes, discussed below,
but also the rule changes filed on March 16, 2017 \10\ in connection
with the name change to NYSE American, would become operative upon the
effectiveness of the NYSE MKT name change to NYSE American, which is
expected to be no later than July 30, 2017. The Exchange will announce
via Trader Notice the effective date of the name change.
---------------------------------------------------------------------------

\9\ See Securities Exchange Act Release No. 80283, supra note 4,
at 15246.
\10\ See Securities Exchange Act Release No. 80283 (March 21,
2017), 82 FR 15244 (March 27, 2017) (SR-NYSEMKT-2017-14).
---------------------------------------------------------------------------

Proposed Changes

In connection with the rebranding of the Options Market, the
Exchange proposes to amend the rules as described below:
The Exchange proposes to change the name of its trading
permit from ``Amex Trading Permit'' to ``American Trading Permit.''
Consistent with that change, it proposes to change the terms ``Amex
Trading Permits'' and ``Amex Trading Permit Holder'' to ``American
Trading Permits'' and ``American Trading Permit Holder,'' respectively.
To implement the change, it proposes to replace ``Amex'' with
``American'' in Rule 350 (Ownership Requirements); Rule 353 (Amex
Trading Permit Requirements); Rule 353A (Revocable Privilege;
Termination of an Amex Trading Permit); Rule 358 (Processing Fees and
Other Charges Associated with Amex Trading Permit); Rule 358A (Special
Charge and Charge Upon Options Transactions); Rule 359 (Application and
Termination Forms); Rule 359B (Limited Transferability); and, where
applicable, in the respective title of the aforementioned rules.
The Exchange proposes to change the term ``NYSE Amex
Options Trading Floor'' to ``NYSE American Options Trading Floor''. To
implement the change, it proposes to replace ``Amex'' with ``American''
in Rule 6A--Equities (`Trading Floor') and Rule 36--Equities
(Communications between Exchange and Members' Offices), Supplementary
Material .21, .23, and .70.
In Rule 70--Equities (Execution of Floor Broker Interest),
Supplementary Material .40, the Exchange proposes to replace ``Amex''
with ``American'' in the term ``NYSE Amex option.''
In Rule 900.2NY (Definitions), the Exchange proposes to
amend ``NYSE Amex Options'' to the term ``NYSE American Options'' and
``Amex Trading Permit'' to the term ``American Trading Permit''. To
implement the change, the Exchange proposes to replace ``Amex'' with
``American'' throughout the rule.
In Rule 902NY (Admission and Conduct on the Options
Trading Floor), the Exchange proposes to replace ``Amex'' with
``American'' in the terms ``Officer of NYSE Amex Options'', ``NYSE Amex
Options automated trading system'', and ``Reserve Floor Market Maker
Amex Trading Permit.''
In Rule 1000--AEMI (Portfolio Depository Receipts),
Commentary .03 and .06, and Rule 1000A-AEMI (Index Fund Shares),
Commentary .02 and .05, the Exchange proposes to delete ``Amex'' from
the term ``Amex Company Guide'', consistent with the definition of
``Company Guide'' in the Exchange's rules.\11\
---------------------------------------------------------------------------

\11\ See Definition 37 (``Company Guide'') in the General and
Floor Rules.
---------------------------------------------------------------------------

In addition, the Exchange proposes to amend the following documents
as described below:
Fee Schedule: The Exchange proposes to replace ``Amex''
with ``American'' in the references to ``NYSE Amex Options'' in the
title and throughout the Fee Schedule. The Exchange also proposes to
replace ``Amex'' with ``American'' in the terms ``NYSE Amex Options
Market Maker'', ``NYSE Amex'', ``NYSE Amex Options Floor Market
Maker'', ``NYSE Amex Options Market Making firm'' and ``Amex Customer
Engagement (``ACE'') Program.'' Additionally, the Exchange proposes to
make a technical correction to the term ``NYSE Amex Market Maker'' by
adding the missing word ``Options'' and updating such reference to
``NYSE American Options Market Maker.''
Price List: Under ``Co-Location Fees,'' the Exchange
proposes to replace ``Amex'' with ``American'' in the term ``NYSE Amex
Options.''
Options Market Data Fees: The Exchange proposes to replace
references to ``Amex'' with ``American'' found in the title, headings,
and product names throughout the Options Market Data Fees.
The Exchange also proposes to clean up obsolete references to the
Exchange's former name, Amex, as follows:
When the Exchange's name was changed from NYSE Amex LLC to
NYSE MKT LLC, it changed its rule naming convention by replacing ``--
NYSE Amex Equities'' with ``--Equities''.\12\ However, Rule 5210--
Equities (Publication of Transactions and Quotations), Supplementary
Material .01, retains cross references using the old naming convention.
The Exchange accordingly proposes to update such references to ``--NYSE
Amex Equities'' rules to ``--Equities'' rules.
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\12\ See Securities Exchange Act Release No. 67037 (May 21,
2012), 77 FR 31415 (May 25, 2012) (SR-NYSEAmex-2012-32), at 31416.
For example, Rule 0--NYSE Amex Equities became Rule 0--Equities.
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In Sec.137 (Depository Eligibility) of the Company Guide,
the Exchange proposes to replace ``Amex Rule 777'' with ``Rule 777.''
None of the foregoing changes are substantive.\13\
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\13\ 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 \14\ in general, and with Section
6(b)(1) \15\ 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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\14\ 15 U.S.C. 78f(b).
\15\ 15 U.S.C. 78f(b)(1).
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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 rules, Price
List, Fee Schedule, and Options Market Data Fees accurately reflect the
name of the Options Market would contribute to the orderly operation of
the Exchange by

[[Page 24766]]

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,\16\ 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.
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\16\ 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 rules, Price
List, Fee Schedule, and Options Market Data Fees. The Exchange believes
that, by ensuring that such documents and rulebook accurately reflect
the name of the Options Market, which aligns with the name of the
Exchange, the proposed rule change would reduce potential investor or
market participant confusion.
The Exchange believes that eliminating obsolete references to the
Exchange's previous name would not be inconsistent with the public
interest and the protection of investors because investors will not be
harmed and in fact would benefit from increased transparency, thereby
reducing potential confusion. Removing such obsolete references will
also further the goal of transparency and add clarity to the Exchange's
rules and Company Guide.

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 rules, Company Guide, Price List,
Fee Schedule, and Options Market Data Fees to reflect the new name of
the Exchange and the subsequent related rebranding of its options
business.

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 Act \17\ and Rule 19b-4(f)(3) \18\ thereunder in
that the proposed rule change is concerned solely with the
administration of the Exchange.
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\17\ 15 U.S.C. 78s(b)(3)(A).
\18\ 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) \19\ of the Act to determine whether the proposed rule
change should be approved or disapproved.
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\19\ 15 U.S.C. 78s(b)(2)(B).
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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-2017-20 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-2017-20. 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-NYSEMKT-2017-20 and should
be submitted on or before June 20, 2017.

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
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\20\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-10983 Filed 5-26-17; 8:45 am]
BILLING CODE 8011-01-P

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