Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 7.37E To Update a Rule Cross Reference, 33796-33798 [2019-14894]
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33796
Federal Register / Vol. 84, No. 135 / Monday, July 15, 2019 / 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–
BOX–2019–23 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.
khammond on DSKBBV9HB2PROD with NOTICES
All submissions should refer to File
Number SR–BOX–2019–23. 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 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 such
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–BOX–2019–23, and should
be submitted on or before August 5,
2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Vanessa A. Countryman,
Secretary.
[FR Doc. 2019–14892 Filed 7–12–19; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–86333; File No. SR–
NYSEAMER–2019–26]
Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Rule 7.37E To
Update a Rule Cross Reference
July 9, 2019.
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 June 25,
2019, NYSE American LLC (‘‘NYSE
American’’ or the ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the selfregulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rule 7.37E to update a rule cross
reference. 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 the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
Rule 7.37E to update a rule cross
reference. The Exchange also proposes a
non-substantive amendment to update
BILLING CODE 8011–01–P
1 15
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
12 17
CFR 200.30–3(a)(12).
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the title of the rule from ‘‘Order
Execution and Ranking’’ to ‘‘Order
Execution and Routing.’’ The title
‘‘Order Execution and Routing’’ is
consistent with the text of the rule and
conforms to the title of similar rules of
the Exchange’s affiliated exchanges.4
Rule 7.37E(b)(7) provides that
electronically-entered requests to cancel
or reduce in size MOC Orders or LOC
orders in New York Stock Exchange LLC
(‘‘NYSE’’) listed securities will be
rejected if entered after the times
specified in NYSE Rules 123C(3)(b) and
Supplementary Material .40 to that rule.
The NYSE recently amended its rules to
support the transition of NYSE-listed
securities to the Pillar trading platform.5
Among other things, when NYSE
transitions NYSE-listed securities to the
Pillar trading platform, the NYSE Rule
7.35 Series will govern auctions on the
NYSE and NYSE Rule 123C will no
longer be applicable.6
The Exchange proposes to amend
Rule 7.37E(b)(7)(C) to update the cross
reference to the NYSE rule that will be
applicable when NYSE-listed securities
transition to the Pillar trading platform.
Instead of cross referencing NYSE Rule
123C(3)(b) and Supplementary Material
.40 to that rule, the Exchange proposes
to cross reference NYSE Rule 7.35(a)(7),
which defines the term ‘‘Closing
Auction Imbalance Freeze Time.’’ As
provided for in NYSE Rule 7.35B(f)(2),
the NYSE will begin limiting the
circumstances when a MOC or LOC
Order may be cancelled or reduced in
size beginning at that Closing Auction
Imbalance Freeze Time. These NYSE
Pillar rules are substantively the same as
current NYSE Rule 123C(3)(b) as both
sets of rules use the same cut-off time
for when the NYSE begins restricting
the circumstances when a MOC or LOC
Order may be cancelled or reduced in
size, i.e., ten minutes before the
scheduled end of trading.
The proposed amended rule text will
provide as follows (deleted text in
brackets, new text underlined):
4 See, e.g., NYSE Arca, Inc. Rule 7.37–E (Order
Execution and Routing) and NYSE National, Inc.
Rule 7.37 (Order Execution and Routing).
5 See Securities Exchange Act Release No. 85962
(May 29, 2019), 84 FR 26188 (June 5, 2019) (SR–
NYSE–2019–05) (Approval Order).
6 The NYSE has announced that, subject to rule
approvals, the NYSE will begin transitioning NYSElisted securities to Pillar on August 5, 2019,
available here: https://www.nyse.com/publicdocs/
nyse/markets/nyse/Revised_Pillar_Migration_
Timeline.pdf. The NYSE will publish by separate
Trader Update a complete symbol migration
schedule.
E:\FR\FM\15JYN1.SGM
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Federal Register / Vol. 84, No. 135 / Monday, July 15, 2019 / Notices
khammond on DSKBBV9HB2PROD with NOTICES
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),7 in general, and furthers the
objectives of Section 6(b)(5),8 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 that the
proposed rule change to amend Rule
7.37E would remove impediments to
and perfect the mechanism of a free and
open market and a national market
system because it would update the
Exchange’s rules to cross reference the
NYSE rule that would be applicable
when the NYSE transitions its listed
securities to the Pillar trading platform.
The proposed rule change does not
propose any new or novel functionality
because the NYSE Pillar rules provide
for the same cut-off time and
circumstances for cancelling or reducing
in size MOC or LOC Orders as provided
for in NYSE Rule 123C(3)(b) and
Supplementary Material .40 to that rule.
The Exchange therefore believes that the
proposed rule change, including the
change to the title of Rule 7.37E, would
protect investors and the public interest,
in general, because it is designed to
promote transparency and clarity in
Exchange rules.
7 15
8 15
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 designed to
address any competitive issues, but
rather, would update Rule 7.37E to
update a cross reference to the NYSE
rule that would be applicable when the
NYSE transitions its listed securities to
the Pillar trading platform and update
the title to conform to the text of the
rule. The Exchange therefore believes
that the proposed rule change is
designed to promote transparency and
clarity in Exchange rules.
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 Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 9 and Rule
19b–4(f)(6) thereunder.10 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
prior to 30 days from the date on which
it was filed, or such shorter time as the
Commission may designate, if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)(iii)
thereunder.
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
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
VerDate Sep<11>2014
16:08 Jul 12, 2019
9 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
10 17
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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) 11 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–
NYSEAMER–2019–26 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–NYSEAMER–2019–26. 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
11 15
E:\FR\FM\15JYN1.SGM
U.S.C. 78s(b)(2)(B).
15JYN1
EN15JY19.000</GPH>
The Exchange will implement these
proposed rule changes on the same
schedule that the NYSE transitions
NYSE-listed securities to the Pillar
trading platform. In other words, the
current rule will remain operative for
NYSE-listed securities until such time
that they transition to NYSE’s Pillar
trading platform.
33797
33798
Federal Register / Vol. 84, No. 135 / Monday, July 15, 2019 / Notices
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.
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–NYSEAMER–2019–26 and
should be submitted on or before
August 5, 2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Vanessa A. Countryman,
Secretary.
[FR Doc. 2019–14894 Filed 7–12–19; 8:45 am]
BILLING CODE 8011–01–P
SURFACE TRANSPORTATION BOARD
[Docket No. AB 6 (Sub-No. 499X)]
BNSF Railway Company—
Abandonment Exemption—in Los
Angeles County, CA
khammond on DSKBBV9HB2PROD with NOTICES
BNSF Railway Company (BNSF) has
filed a verified notice of exemption
under 49 CFR pt. 1152 subpart F—
Exempt Abandonments to abandon its
freight rail easement over an
approximately 5.93-mile line of railroad
on the Harbor Subdivision, between
approximately milepost 2.1 and
approximately milepost 7.95, in Los
Angeles County, Cal. (the Line).1 The
Line traverses U.S. Postal Service Zip
Codes 90001, 90003, 90011, 90037,
90043, 90044, 90047, 90058, 90062, and
90255.
BNSF has certified that: (1) No local
traffic has moved over the Line for at
least two years; (2) there is no overhead
traffic on the Line; (3) no formal
complaint filed by a user of rail service
on the Line (or by a state or local
government entity acting on behalf of
such user) regarding cessation of service
over the Line either is pending with the
Surface Transportation Board (Board) or
12 17
CFR 200.30–3(a)(12).
its verified notice, BNSF states that the
physical assets of the Line are owned by the Los
Angeles County Metropolitan Transportation
Authority (LACMTA). According to BNSF, the Line
is part of a group of rail lines acquired by a
predecessor of LACMTA. See Los Angeles, Cty.
Transp. Comm’n—Acquis. Exemption—The
Atchison, Topeka & Santa Fe Ry., FD 32172 (ICC
served Dec. 2, 1992).
1 In
VerDate Sep<11>2014
16:08 Jul 12, 2019
Jkt 247001
any U.S. District Court or has been
decided in favor of a complainant
within the two-year period; and (4) the
requirements at 49 CFR 1105.12
(newspaper publication), 49 CFR
1152.50(d)(1) (notice to governmental
agencies), and 49 CFR 1105.7 and
1105.8 (environment and historic
report), have been met.
As a condition to this exemption, any
employee adversely affected by the
abandonment shall be protected under
Oregon Short Line Railroad—
Abandonment Portion Goshen Branch
Between Firth & Ammon, in Bingham &
Bonneville Counties, Idaho, 360 I.C.C.
91 (1979). To address whether this
condition adequately protects affected
employees, a petition for partial
revocation under 49 U.S.C. 10502(d)
must be filed.
Provided no formal expression of
intent to file an offer of financial
assistance (OFA) 2 has been received,
this exemption will be effective on
August 14, 2019, unless stayed pending
reconsideration. Petitions to stay that do
not involve environmental issues,3
formal expressions of intent to file an
OFA under 49 CFR 1152.27(c)(2), and
trail use/rail banking requests under 49
CFR 1152.29 must be filed by July 25,
2019.4 Petitions to reopen or requests
for public use conditions under 49 CFR
1152.28 5 must be filed by August 5,
2019, with the Surface Transportation
Board, 395 E Street SW, Washington, DC
20423–0001.
A copy of any petition filed with
Board should be sent to BNSF’s
representative, Peter Denton, Steptoe &
Johnson LLP, 1330 Connecticut Ave.
NW, Washington, DC 20036.
If the verified notice contains false or
misleading information, the exemption
is void ab initio.
BNSF has filed a combined
environmental and historic report that
addresses the potential effects of the
abandonment on the environment and
historic resources. OEA will issue an
environmental assessment (EA) by July
19, 2019. The EA will be available to
interested persons on the Board’s
website, by writing to OEA, or by calling
OEA at (202) 245–0305. Assistance for
the hearing impaired is available
through the Federal Relay Service at
(800) 877–8339. Comments on
environmental and historic preservation
matters must be filed within 15 days
after the EA becomes available to the
public.
Environmental, historic preservation,
public use, or trail use/rail banking
conditions will be imposed, where
appropriate, in a subsequent decision.
Pursuant to the provisions of 49 CFR
1152.29(e)(2), BNSF shall file a notice of
consummation with the Board to signify
that it has exercised the authority
granted and fully abandoned the Line. If
consummation has not been effected by
BNSF’s filing a notice of consummation
by July 15, 2020, and there are no legal
or regulatory barriers to consummation,
the authority to abandon will
automatically expire.
Board decisions and notices are
available at www.stb.gov.
2 Persons interested in submitting an OFA must
first file a formal expression of intent to file an
offer, indicating the type of financial assistance they
wish to provide (i.e., subsidy or purchase) and
demonstrating that they are preliminarily
financially responsible. See 49 CFR 1152.27(c)(2)(i).
3 The Board will grant a stay if an informed
decision on environmental issues (whether raised
by a party or by the Board’s Office of Environmental
Analysis (OEA) in its independent investigation)
cannot be made before the exemption’s effective
date. See Exemption of Out-of-Serv. Rail Lines, 5
I.C.C.2d 377 (1989). Any request for a stay should
be filed as soon as possible so that the Board may
take appropriate action before the exemption’s
effective date.
4 Filing fees for OFAs and trail use requests can
be found at 49 CFR 1002.2(f)(25) and (27),
respectively.
5 BNSF states that the abandonment will facilitate
LACMTA’s desire to construct the Rail to Rail
Active Transportation Corridor Project—Segment A,
which will consist of on- and off-street bicycle and
pedestrian/multi-purpose paths within existing
street and railroad rights-of-way. As a result, BNSF
states that the Line is not available for public
purposes other than the Project.
Fiscal Year 2020 Tariff-Rate Quota
Allocations for Raw Cane Sugar,
Refined and Specialty Sugar, and
Sugar-Containing Products
PO 00000
Frm 00066
Fmt 4703
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Decided: July 10, 2019.
By the Board, Allison C. Davis, Director,
Office of Proceedings.
Kenyatta Clay,
Clearance Clerk.
[FR Doc. 2019–14944 Filed 7–12–19; 8:45 am]
BILLING CODE 4915–01–P
OFFICE OF THE UNITED STATES
TRADE REPRESENTATIVE
Office of the United States
Trade Representative.
ACTION: Notice.
AGENCY:
The Office of the United
States Trade Representative (USTR) is
providing notice of country-by-country
allocations of the fiscal year (FY) 2020
in-quota quantity of the tariff-rate quota
(TRQ) for imported raw cane sugar,
certain sugars, syrups and molasses
(also known as refined sugar), specialty
sugar, and sugar-containing products.
DATES: This notice is applicable on July
15, 2019.
FOR FURTHER INFORMATION CONTACT:
Dylan Daniels, Office of Agricultural
SUMMARY:
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15JYN1
]]>Agencies
[Federal Register Volume 84, Number 135 (Monday, July 15, 2019)]
[Notices]
[Pages 33796-33798]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-14894]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-86333; File No. SR-NYSEAMER-2019-26]
Self-Regulatory Organizations; NYSE American LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
Rule 7.37E To Update a Rule Cross Reference
July 9, 2019.
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 June 25, 2019, NYSE American LLC (``NYSE American'' or
the ``Exchange'') 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 to amend Rule 7.37E to update a rule cross
reference. 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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend Rule 7.37E to update a rule cross
reference. The Exchange also proposes a non-substantive amendment to
update the title of the rule from ``Order Execution and Ranking'' to
``Order Execution and Routing.'' The title ``Order Execution and
Routing'' is consistent with the text of the rule and conforms to the
title of similar rules of the Exchange's affiliated exchanges.\4\
---------------------------------------------------------------------------
\4\ See, e.g., NYSE Arca, Inc. Rule 7.37-E (Order Execution and
Routing) and NYSE National, Inc. Rule 7.37 (Order Execution and
Routing).
---------------------------------------------------------------------------
Rule 7.37E(b)(7) provides that electronically-entered requests to
cancel or reduce in size MOC Orders or LOC orders in New York Stock
Exchange LLC (``NYSE'') listed securities will be rejected if entered
after the times specified in NYSE Rules 123C(3)(b) and Supplementary
Material .40 to that rule. The NYSE recently amended its rules to
support the transition of NYSE-listed securities to the Pillar trading
platform.\5\ Among other things, when NYSE transitions NYSE-listed
securities to the Pillar trading platform, the NYSE Rule 7.35 Series
will govern auctions on the NYSE and NYSE Rule 123C will no longer be
applicable.\6\
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 85962 (May 29,
2019), 84 FR 26188 (June 5, 2019) (SR-NYSE-2019-05) (Approval
Order).
\6\ The NYSE has announced that, subject to rule approvals, the
NYSE will begin transitioning NYSE-listed securities to Pillar on
August 5, 2019, available here: https://www.nyse.com/publicdocs/nyse/markets/nyse/Revised_Pillar_Migration_Timeline.pdf. The NYSE
will publish by separate Trader Update a complete symbol migration
schedule.
---------------------------------------------------------------------------
The Exchange proposes to amend Rule 7.37E(b)(7)(C) to update the
cross reference to the NYSE rule that will be applicable when NYSE-
listed securities transition to the Pillar trading platform. Instead of
cross referencing NYSE Rule 123C(3)(b) and Supplementary Material .40
to that rule, the Exchange proposes to cross reference NYSE Rule
7.35(a)(7), which defines the term ``Closing Auction Imbalance Freeze
Time.'' As provided for in NYSE Rule 7.35B(f)(2), the NYSE will begin
limiting the circumstances when a MOC or LOC Order may be cancelled or
reduced in size beginning at that Closing Auction Imbalance Freeze
Time. These NYSE Pillar rules are substantively the same as current
NYSE Rule 123C(3)(b) as both sets of rules use the same cut-off time
for when the NYSE begins restricting the circumstances when a MOC or
LOC Order may be cancelled or reduced in size, i.e., ten minutes before
the scheduled end of trading.
The proposed amended rule text will provide as follows (deleted
text in brackets, new text underlined):
[[Page 33797]]
[GRAPHIC] [TIFF OMITTED] TN15JY19.000
The Exchange will implement these proposed rule changes on the same
schedule that the NYSE transitions NYSE-listed securities to the Pillar
trading platform. In other words, the current rule will remain
operative for NYSE-listed securities until such time that they
transition to NYSE's Pillar trading platform.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) of the
Securities Exchange Act of 1934 (the ``Act''),\7\ in general, and
furthers the objectives of Section 6(b)(5),\8\ 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that the proposed rule change to amend Rule
7.37E would remove impediments to and perfect the mechanism of a free
and open market and a national market system because it would update
the Exchange's rules to cross reference the NYSE rule that would be
applicable when the NYSE transitions its listed securities to the
Pillar trading platform. The proposed rule change does not propose any
new or novel functionality because the NYSE Pillar rules provide for
the same cut-off time and circumstances for cancelling or reducing in
size MOC or LOC Orders as provided for in NYSE Rule 123C(3)(b) and
Supplementary Material .40 to that rule. The Exchange therefore
believes that the proposed rule change, including the change to the
title of Rule 7.37E, would protect investors and the public interest,
in general, because it is designed to promote transparency and clarity
in Exchange rules.
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 designed to address any competitive issues, but rather, would
update Rule 7.37E to update a cross reference to the NYSE rule that
would be applicable when the NYSE transitions its listed securities to
the Pillar trading platform and update the title to conform to the text
of the rule. The Exchange therefore believes that the proposed rule
change is designed to promote transparency and clarity in Exchange
rules.
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 Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \9\ and Rule 19b-4(f)(6) thereunder.\10\
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 prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
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\9\ 15 U.S.C. 78s(b)(3)(A)(iii).
\10\ 17 CFR 240.19b-4(f)(6).
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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) \11\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\11\ 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 [email protected]. Please include
File Number SR-NYSEAMER-2019-26 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-NYSEAMER-2019-26. 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
[[Page 33798]]
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. 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-NYSEAMER-2019-26 and should
be submitted on or before August 5, 2019.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(12).
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Vanessa A. Countryman,
Secretary.
[FR Doc. 2019-14894 Filed 7-12-19; 8:45 am]
BILLING CODE 8011-01-P
