Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 7.37 and Rule 17 With Respect to NYSE National's Reopening of Trading and Reactivating Connection to the Securities Information Processors, 26335-26337 [2018-12114]
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Federal Register / Vol. 83, No. 109 / Wednesday, June 6, 2018 / Notices
participants concurrent with the relaunch of the Exchange.
At any time within 60 days of the
filing of such 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
under Section 19(b)(2)(B) of the Act 21 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:
daltland on DSKBBV9HB2PROD with NOTICES
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–
NYSENAT–2018–09 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE, Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSENAT–2018–09. 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 website (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 website 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
21 15
U.S.C. 78s(b)(2)(B).
VerDate Sep<11>2014
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Jkt 244001
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–NYSENAT–2018–09 and
should be submitted on or before June
27, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.22
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–12110 Filed 6–5–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–83356; File No. SR–NYSE–
2018–25]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend Rule
7.37 and Rule 17 With Respect to NYSE
National’s Reopening of Trading and
Reactivating Connection to the
Securities Information Processors
May 31, 2018.
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 18,
2018, New York Stock Exchange LLC
(‘‘NYSE’’ or the ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (‘‘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 the Substance
of the Proposed Rule Change
The Exchange proposes to: (1) Amend
Rule 7.37 to specify in Exchange rules
the Exchange’s use of data feeds from
NYSE National, Inc. (‘‘NYSE National’’)
for order handling and execution, order
routing, and regulatory compliance; and
(2) amend Rule 17 to reflect that
22 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
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26335
Archipelago Securities LLC (‘‘Arca
Securities’’) would function as a routing
broker for the Exchange’s affiliate, NYSE
National. The proposed rule change is
available on the Exchange’s website 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
The Exchange proposes to update and
amend the table in Rule 7.37 that sets
forth on a market-by-market basis the
specific network processor and
proprietary data feeds that the Exchange
utilizes for the handling, execution and
routing of orders, and for performing the
regulatory compliance checks related to
each of those functions. Specifically, the
table would be amended to include
NYSE National, which intends to
reopen trading and reactivate its
connections to the securities
information processors (‘‘SIPs’’). To
reflect that, the Exchange proposes to
amend Rule 7.37 to specify which data
feeds the Exchange would use for NYSE
National. As proposed, the Exchange
would use the direct data feeds for
NYSE National and would use the SIP
data feeds as a secondary source.
Additionally, the Exchange proposes
to amend Rule 17 to reflect that Arca
Securities would function as a routing
broker for the Exchange’s affiliate, NYSE
National. Specifically, the Exchange
proposes to amend Rule 17(c)(2)(A) and
(B) to reference NYSE National as an
affiliate of the Exchange for the
purposes of the inbound routing
function performed by Arca Securities.
The proposed rule change would
provide more clarity and transparency
to all the functions that Arca Securities
performs on behalf of the Exchange and
its affiliates, which now includes NYSE
E:\FR\FM\06JNN1.SGM
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26336
Federal Register / Vol. 83, No. 109 / Wednesday, June 6, 2018 / Notices
routing function on behalf on the
Exchange’s affiliate, NYSE National.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),4 in general, and furthers the
objectives of Section 6(b)(5),5 in
particular, because 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
its proposal to update the table in Rule
7.37 to include NYSE National will
ensure that Rule 7.37 correctly identifies
and publicly states on a market-bymarket basis all of the specific network
processor and proprietary data feeds
that the Exchange utilizes for the
handling, execution and routing of
orders, and for performing the
regulatory compliance checks to each of
those functions. The proposed rule
change also removes impediments to
and perfects the mechanism of a free
and open market and protects investors
and the public interest because it
provides additional specificity, clarity
and transparency. The Exchange
believes the proposed rule change to
amend Rule 17 also removes
impediments to and perfects the
mechanism of a free and open market
and protects investors and the public
interest because the proposed rule
change would enhance the clarity and
transparency in Exchange Rules
surrounding the inbound routing
function performed by Arca Securities
for the Exchange’s affiliate, NYSE
National.
daltland on DSKBBV9HB2PROD with NOTICES
National. The Exchange is not proposing
any substantive change to the rule.
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
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 change is not designed to
address any competitive issue but rather
would provide the public and investors
with information about which data
feeds the Exchange uses for execution
and routing decisions, and provide
clarity in Exchange rules that Arca
Securities would perform the inbound
4 15
U.S.C. 78f(b).
5 15 U.S.C. 78f(b)(5).
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17:35 Jun 05, 2018
Jkt 244001
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, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 6 and Rule 19b–
4(f)(6) thereunder.7
A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
Act 8 normally does not become
operative for 30 days after the date of its
filing. However, Rule 19b–4(f)(6)(iii) 9
permits the Commission to designate a
shorter time if such action is consistent
with the protection of investors and the
public interest. The Exchange has asked
the Commission to waive the 30-day
operative delay so that the proposed
rule change may become operative upon
filing. The Exchange states that waiver
of the operative delay would be
consistent with the protection of
investors and the public interest
because it will allow the Exchange to
immediately provide enhanced
transparency in Exchange rules
regarding which data feeds the
Exchange will use for NYSE National
and clarify in the Exchange’s rules that
Arca Securities will perform the
inbound routing function for NYSE
National. The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest.
Therefore, the Commission hereby
waives the operative delay and
designates the proposal as operative
upon filing.10
6 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 CFR 240.19b–4(f)(6).
9 17 CFR 240.19b–4(f)(6)(iii).
10 For purposes only of waiving the 30-day
operative delay, the Commission has also
7 17
PO 00000
Frm 00085
Fmt 4703
Sfmt 4703
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–2018–25 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–2018–25. 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 website (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 website 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
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
E:\FR\FM\06JNN1.SGM
06JNN1
Federal Register / Vol. 83, No. 109 / Wednesday, June 6, 2018 / Notices
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–NYSE–2018–25, and
should be submitted on or before June
27, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–12114 Filed 6–5–18; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #15548 and #15549;
MAINE Disaster Number ME–00050]
Presidential Declaration of a Major
Disaster for Public Assistance Only for
the State of Maine
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
This is a Notice of the
Presidential declaration of a major
disaster for Public Assistance Only for
the State of Maine (FEMA–4367–DR),
dated 05/30/2018.
Incident: Severe Storm and Flooding.
Incident Period: 03/02/2018 through
03/08/2018.
DATES: Issued on 05/30/2018.
Physical Loan Application Deadline
Date: 07/30/2018.
Economic Injury (EIDL) Loan
Application Deadline Date: 03/04/2019.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street SW, Suite 6050,
Washington, DC 20416, (202) 205–6734.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that as a result of the
President’s major disaster declaration on
05/30/2018, Private Non-Profit
organizations that provide essential
services of a governmental nature may
file disaster loan applications at the
address listed above or other locally
announced locations.
daltland on DSKBBV9HB2PROD with NOTICES
SUMMARY:
11 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
17:35 Jun 05, 2018
Jkt 244001
26337
R.R.—Acquis. & Operation Exemption—
Pub. Belt R.R. Comm’n of New Orleans
(NOPB Corp. Acquisition), FD 36149
(STB served Dec. 27, 2017).
According to NOPB Corp., pursuant to
a September 16, 2016 temporary
trackage rights agreement and
Percent
subsequent amendment dated December
28, 2016, between Public Belt and IC,
For Physical Damage:
Non-Profit Organizations with
Public Belt previously obtained
Credit Available Elsewhere ...
2.500 temporary overhead trackage rights on
Non-Profit Organizations withthe Line to interchange traffic with
out Credit Available ElseKansas City Southern Railway Company
where .....................................
2.500
(KCS) on KCS trackage in New Orleans
For Economic Injury:
on a trial basis. See New Orleans Pub.
Non-Profit Organizations withBelt R.R.—Temp. Trackage Rights
out Credit Available Elsewhere .....................................
2.500 Exemption—Ill. Cent. R.R., FD 36067
(STB served Oct. 14, 2016); New Orleans
Pub. Belt R.R.—Temp. Trackage Rights
The number assigned to this disaster
Exemption—Ill. Cent. R.R., FD 36067
for physical damage is 155486 and for
(STB served Jan. 30, 2017). NOPB Corp.
economic injury is 155490.
states that, as initially extended, the
(Catalog of Federal Domestic Assistance
temporary trackage rights were
Number 59008)
scheduled to expire on January 31,
James Rivera,
2018. NOPB Corp. further states that it
Associate Administrator for Disaster
was assigned Public Belt’s interest in
Assistance.
the temporary trackage rights
[FR Doc. 2018–12118 Filed 6–5–18; 8:45 am]
arrangement as part of the transaction
BILLING CODE 8025–01–P
authorized in the NOPB Corp.
Acquisition, Docket No. FD 36149.
According to NOPB Corp., pursuant to
SURFACE TRANSPORTATION BOARD a second amendment to the temporary
trackage rights agreement, dated January
[Docket No. FD 36198]
31, 2018, the parties have agreed to a
further extension of the temporary
New Orleans Public Belt Railroad
overhead trackage rights until January
Corporation—Trackage Rights
31, 2020.1 NOPB Corp. states that the
Exemption—Illinois Central Railroad
purpose of the transaction is to allow it
Company
to interchange traffic with KCS on KCS
trackage, which requires NOPB Corp. to
New Orleans Public Belt Railroad
operate over IC trackage for
Corporation (NOPB Corp.), a Class III
rail carrier, has filed a verified notice of approximately 6.3 miles.
NOPB Corp. states that the traffic
exemption under 49 CFR 1180.2(d)(7)
subject to the trackage rights does not
for its extension of temporary overhead
involve an interchange commitment that
trackage rights on rail lines of Illinois
limits interchange with a third-party
Central Railroad Company (IC) in New
connecting carrier. (See NOPB Corp.
Orleans, La., from IC milepost 906.4 at
Letter 1.)
East Bridge Junction in Shrewsbury to
Unless stayed, the exemption will be
IC milepost 900.8 at Orleans Junction in
effective on June 20, 2018 (30 days after
New Orleans and from IC milepost
444.2 at Orleans Junction to IC milepost the verified notice was filed).2
443.5 at Frellsen Junction in New
1 NOPB Corp. states that, because the duration of
Orleans, a total distance of
the extended trackage rights is greater than one
approximately 6.3 miles (the Line).
year, it is not filing under the Board’s class
NOPB Corp. states that it is a
exemption for temporary trackage rights under 49
CFR 1180.2(d)(8). Instead, NOPB Corp. has filed
switching and terminal railroad and a
under the trackage rights class exemption at section
wholly owned subsidiary of the Board
1180.2(d)(7). Concurrently, NOPB Corp. has filed a
of Commissioners of the Port of New
petition for partial revocation of this exemption to
Orleans that provides terminal,
permit these proposed trackage rights to expire on
January 31, 2020, as provided in the agreement. See
interline, and intermediate switching
New Orleans Pub. Belt R.R.—Trackage Rights
services to local shippers and six Class
Exemption—Ill. Cent. R.R., Docket No. FD 36198
I railroads in the New Orleans area.
(Sub-No. 1). The Board will address that petition in
NOPB Corp. further states that it began
a separate decision.
2 NOPB Corp. did not request retroactive
operations on February 1, 2018, upon
authorization, and the exemption invoked by NOPB
acquisition of all the railroad operating
Corp. does not provide for retroactive effectiveness.
assets of the Public Belt Railroad
See Wendelin—Continuance in Control—RMW
Commission of the City of New Orleans
Ventures, LLC, FD 35801, slip op. at 2 n.1 (STB
(Public Belt). See New Orleans Pub. Belt
Continued
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: York
The Interest Rates are:
PO 00000
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E:\FR\FM\06JNN1.SGM
06JNN1
]]>Agencies
[Federal Register Volume 83, Number 109 (Wednesday, June 6, 2018)]
[Notices]
[Pages 26335-26337]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-12114]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-83356; File No. SR-NYSE-2018-25]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Rule 7.37 and Rule 17 With Respect to NYSE National's Reopening
of Trading and Reactivating Connection to the Securities Information
Processors
May 31, 2018.
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 18, 2018, New York Stock Exchange LLC (``NYSE'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(``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 the
Substance of the Proposed Rule Change
The Exchange proposes to: (1) Amend Rule 7.37 to specify in
Exchange rules the Exchange's use of data feeds from NYSE National,
Inc. (``NYSE National'') for order handling and execution, order
routing, and regulatory compliance; and (2) amend Rule 17 to reflect
that Archipelago Securities LLC (``Arca Securities'') would function as
a routing broker for the Exchange's affiliate, NYSE National. The
proposed rule change is available on the Exchange's website 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
The Exchange proposes to update and amend the table in Rule 7.37
that sets forth on a market-by-market basis the specific network
processor and proprietary data feeds that the Exchange utilizes for the
handling, execution and routing of orders, and for performing the
regulatory compliance checks related to each of those functions.
Specifically, the table would be amended to include NYSE National,
which intends to reopen trading and reactivate its connections to the
securities information processors (``SIPs''). To reflect that, the
Exchange proposes to amend Rule 7.37 to specify which data feeds the
Exchange would use for NYSE National. As proposed, the Exchange would
use the direct data feeds for NYSE National and would use the SIP data
feeds as a secondary source.
Additionally, the Exchange proposes to amend Rule 17 to reflect
that Arca Securities would function as a routing broker for the
Exchange's affiliate, NYSE National. Specifically, the Exchange
proposes to amend Rule 17(c)(2)(A) and (B) to reference NYSE National
as an affiliate of the Exchange for the purposes of the inbound routing
function performed by Arca Securities. The proposed rule change would
provide more clarity and transparency to all the functions that Arca
Securities performs on behalf of the Exchange and its affiliates, which
now includes NYSE
[[Page 26336]]
National. The Exchange is not proposing any substantive change to the
rule.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) of the
Securities Exchange Act of 1934 (the ``Act''),\4\ in general, and
furthers the objectives of Section 6(b)(5),\5\ in particular, because
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 its proposal to update the table in Rule 7.37 to include NYSE
National will ensure that Rule 7.37 correctly identifies and publicly
states on a market-by-market basis all of the specific network
processor and proprietary data feeds that the Exchange utilizes for the
handling, execution and routing of orders, and for performing the
regulatory compliance checks to each of those functions. The proposed
rule change also removes impediments to and perfects the mechanism of a
free and open market and protects investors and the public interest
because it provides additional specificity, clarity and transparency.
The Exchange believes the proposed rule change to amend Rule 17 also
removes impediments to and perfects the mechanism of a free and open
market and protects investors and the public interest because the
proposed rule change would enhance the clarity and transparency in
Exchange Rules surrounding the inbound routing function performed by
Arca Securities for the Exchange's affiliate, NYSE National.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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 change is not
designed to address any competitive issue but rather would provide the
public and investors with information about which data feeds the
Exchange uses for execution and routing decisions, and provide clarity
in Exchange rules that Arca Securities would perform the inbound
routing function on behalf on the Exchange's affiliate, NYSE National.
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, it has become effective pursuant to Section
19(b)(3)(A) of the Act \6\ and Rule 19b-4(f)(6) thereunder.\7\
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(A).
\7\ 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.
---------------------------------------------------------------------------
A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \8\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \9\ permits the
Commission to designate a shorter time if such action is consistent
with the protection of investors and the public interest. The Exchange
has asked the Commission to waive the 30-day operative delay so that
the proposed rule change may become operative upon filing. The Exchange
states that waiver of the operative delay would be consistent with the
protection of investors and the public interest because it will allow
the Exchange to immediately provide enhanced transparency in Exchange
rules regarding which data feeds the Exchange will use for NYSE
National and clarify in the Exchange's rules that Arca Securities will
perform the inbound routing function for NYSE National. The Commission
believes that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest. Therefore, the
Commission hereby waives the operative delay and designates the
proposal as operative upon filing.\10\
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\8\ 17 CFR 240.19b-4(f)(6).
\9\ 17 CFR 240.19b-4(f)(6)(iii).
\10\ 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 [email protected]. Please include
File Number SR-NYSE-2018-25 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-2018-25. 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 website (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 website 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
[[Page 26337]]
office of the Exchange. All comments received will be posted without
change. Persons submitting comments are cautioned that we do not redact
or edit personal identifying information from comment submissions. You
should submit only information that you wish to make available
publicly. All submissions should refer to File Number SR-NYSE-2018-25,
and should be submitted on or before June 27, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-12114 Filed 6-5-18; 8:45 am]
BILLING CODE 8011-01-P
