Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 7.31E To Delete Cross Orders, 63948-63950 [2019-24974]
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63948
Federal Register / Vol. 84, No. 223 / Tuesday, November 19, 2019 / Notices
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on 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 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 20 and Rule 19b–4(f)(6)
thereunder.21
A proposed rule change filed under
Rule 19b–4(f)(6) 22 normally does not
become operative for 30 days after the
date of filing. However, pursuant to
Rule 19b–4(f)(6)(iii),23 the Commission
may 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 proposal may become operative
immediately upon filing. The Exchange
states that such waiver will allow the
Exchange to extend the pilot program
and maintain the status quo, thereby
reducing market disruption.
The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest, as it
will allow the pilot program to continue
uninterrupted, thereby avoiding
investor confusion that could result
from a temporary interruption in the
pilot program. For this reason, the
Commission designates the proposed
rule change to be operative upon
filing.24
khammond on DSKJM1Z7X2PROD with NOTICES
20 15
U.S.C. 78s(b)(3)(A).
21 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires the Exchange to give the
Commission written notice of its intent to file the
proposed rule change, along with a brief description
and 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. The Exchange has
satisfied this requirement.
22 17 CFR 240.19b–4(f)(6).
23 17 CFR 240.19b–4(f)(6)(iii).
24 For purposes only of waiving the operative
delay for this proposal, the Commission has
considered the proposed rule’s impact on
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16:47 Nov 18, 2019
Jkt 250001
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–
CBOE–2019–108 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–CBOE–2019–108. 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–CBOE–2019–108 and
should be submitted on or before
December 10, 2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.25
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–24979 Filed 11–18–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87513; File No. SR–
NYSEAMER–2019–46]
Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Rule 7.31E To
Delete Cross Orders
November 13, 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 October
30, 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 and II below, which Items have
been prepared by the self-regulatory
organization. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rule 7.31E (Orders and Modifiers) to
delete Cross Orders from its rules and
make other conforming changes. 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.
25 17
CFR 200.30–3(a)(12) and (59).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
PO 00000
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Fmt 4703
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E:\FR\FM\19NON1.SGM
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Federal Register / Vol. 84, No. 223 / Tuesday, November 19, 2019 / Notices
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
khammond on DSKJM1Z7X2PROD with NOTICES
1. Purpose
The purpose of the proposed rule
change is to amend the Exchange’s rules
to delete Cross Orders.
As defined in Rule 7.31E(g), a Cross
Order is a two-sided order with
instructions to match the identified buyside with the identified sell-side at a
specified price (the ‘‘cross price’’). The
Exchange offers one type of Cross Order,
the Limit IOC Cross Order. As defined
in Rule 7.31E(g)(1), a Limit IOC Cross
Order is a Cross Order that must trade
in full at its cross price, will not route,
and will cancel at the time of order
entry if the cross price is not between
the BBO or would trade through the
PBBO.
Due to a lack of demand for Cross
Orders, the Exchange proposes to
discontinue supporting Cross Orders.
Specifically, in the last three months,
the Exchange has not received any Cross
Orders. Accordingly, the Exchange
proposes to delete the definition of
Cross Order from Rule 7.31E(g), as well
as the references to Cross Orders in
Rules 7.10E(e)(1), 7.11E(a)(5)(E),
7.16E(f)(5)(H), 7.18E(c)(5),
7.34E(c)(1)(B), 7.34E(c)(1)(C),
7.34E(c)(2)(C), and 7.35E(f)(2). The
Exchange proposes to designate Rules
7.31E(g), 7.11E(a)(5)(E), and
7.16E(f)(5)(H) as Reserved and proposes
to revise Rules 7.10E(e)(1), 7.18E(c)(5),
7.34E(c)(1)(B), 7.34E(c)(1)(C),
7.34E(c)(2)(C), and 7.35E(f)(2) to delete
the references to Cross Orders. Subject
to effectiveness of this proposed rule
change, the Exchange will announce the
implementation date of these changes
through a Trader Update, which the
Exchange anticipates will be in
November 2019.
VerDate Sep<11>2014
16:47 Nov 18, 2019
Jkt 250001
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
requirements of Section 6(b) of the Act,4
in general, and Section 6(b)(5) of the
Act,5 in particular, in that it is designed
to remove impediments to and perfect
the mechanism of a free and open
market, to promote just and equitable
principles of trade, and, in general, to
protect investors and the public interest.
Specifically, the Exchange believes that
the proposed rule change would remove
impediments to and perfect the
mechanisms of a free and open market
by eliminating a little-used order type
and improving the clarity of the
Exchange’s rules. The Exchange further
believes that deleting an order type
rarely used by investors also removes
impediments to and perfects the
mechanism of a free and open market by
facilitating market participants’
navigation of the Exchange’s rulebook
and improving their ability to
understand the order types available for
trading on the Exchange. Moreover, the
Exchange believes that the elimination
of Cross Orders will simplify order
processing and reduce the burden on
system capacity, which the Exchange
believes is consistent with promoting
just and equitable principles of trade, as
well as the protection of investors and
the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change would impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. Specifically,
the Exchange believes that the proposed
rule change would relieve a burden on
competition by making the Exchange’s
rules easier to navigate and promoting
regulatory clarity through the
elimination of a seldom-used order type.
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) of the Act 6 and Rule 19b–
4 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
6 15 U.S.C. 78s(b)(3)(A).
5 15
PO 00000
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63949
4(f)(6) thereunder.7 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.8
A proposed rule change filed under
Rule 19b–4(f)(6) 9 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii),10 the
Commission may 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 proposal may
become operative immediately upon
filing. The Exchange has represented
that this order type is rarely used and
has not been used in the last three
months. The Commission believes that
waiver of the 30-day operative delay
period is consistent with the protection
of investors and the public interest and
hereby waives the 30-day operative
delay and designates the proposed rule
change operative upon filing.11
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) 12 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
7 17
CFR 240.19b–4(f)(6).
addition, Rule 19b–4(f)(6) requires the
Exchange to give the Commission written notice of
the Exchange’s intent to file the proposed rule
change, along with a brief description and 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. The Exchange has satisfied this
requirement.
9 17 CFR 240.19b–4(f)(6).
10 17 CFR 240.19b–4(f)(6)(iii).
11 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
12 15 U.S.C. 78s(b)(2)(B).
8 In
E:\FR\FM\19NON1.SGM
19NON1
63950
Federal Register / Vol. 84, No. 223 / Tuesday, November 19, 2019 / Notices
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–2019–46 on the subject
line.
Paper Comments
khammond on DSKJM1Z7X2PROD with NOTICES
• 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–2019–46. 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
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–2019–46 and
should be submitted on or before
December 10, 2019.
VerDate Sep<11>2014
16:47 Nov 18, 2019
Jkt 250001
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–24974 Filed 11–18–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Securities Rule 477, SEC File No. 270–493,
OMB Control No. 3235–0550.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget this
request for extension of the previously
approved collection of information
discussed below.
Rule 477 (17 CFR 230.477) under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.) sets forth procedures for
withdrawing a registration statement,
including any amendments or exhibits
to the registration statement. The rule
provides that if an issuer intends to rely
on the safe harbor contained in
Securities Act Rule 155 to conduct an
unregistered private offering of
securities, the issuer must affirmatively
state in the withdrawal application that
it plans to undertake a subsequent
private offering of its securities. Without
this statement, the Commission would
not be able to monitor a company’s
reliance on, and compliance with,
Securities Act Rule 155(c). All
information submitted to the
Commission under Securities Act Rule
477 is available to the public for review.
Information provided under Securities
Act Rule 477 is mandatory. The
information is required on occasion. We
estimate that approximately 327 issuers
will file Securities Act Rule 477
submissions annually at an estimated
one hour per response for a total annual
burden of approximately 327 hours. We
estimate that 100% of the reporting
burden is prepared by the issuer.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
13 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00114
Fmt 4703
Sfmt 4703
unless it displays a currently valid
control number.
The public may view the background
documentation for this information
collection at the following website,
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to:
Lindsay.M.Abate@omb.eop.gov; and (ii)
Charles Riddle, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
Mailbox@sec.gov. Comments must be
submitted to OMB within 30 days of
this notice.
Dated: November 8, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–25005 Filed 11–18–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Schedule 13E–4F, SEC File No. 270–340,
OMB Control No. 3235–0375
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995,
the Securities and Exchange
Commission (‘‘Commission’’) has
submitted to the Office of Management
and Budget this request for extension of
the previously approved collection of
information discussed below.
Schedule 13E–4F (17 CFR 240.13e–
102) may be used by an issuer that is
incorporated or organized under the
laws of Canada to make a cash tender
or exchange offer for the issuer’s own
securities if less than 40 percent of the
class of such issuer’s securities
outstanding that are the subject of the
tender offer is held by U.S. holders. The
information collected must be filed with
the Commission and is publicly
available. We estimate that it takes
approximately 2 hours per response to
prepare Schedule 13E–4F and that the
information is filed by approximately 3
respondents annually for a total annual
E:\FR\FM\19NON1.SGM
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Agencies
[Federal Register Volume 84, Number 223 (Tuesday, November 19, 2019)]
[Notices]
[Pages 63948-63950]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-24974]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-87513; File No. SR-NYSEAMER-2019-46]
Self-Regulatory Organizations; NYSE American LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
Rule 7.31E To Delete Cross Orders
November 13, 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 October 30, 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
and II below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend Rule 7.31E (Orders and Modifiers) to
delete Cross Orders from its rules and make other conforming changes.
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.
[[Page 63949]]
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 purpose of the proposed rule change is to amend the Exchange's
rules to delete Cross Orders.
As defined in Rule 7.31E(g), a Cross Order is a two-sided order
with instructions to match the identified buy-side with the identified
sell-side at a specified price (the ``cross price''). The Exchange
offers one type of Cross Order, the Limit IOC Cross Order. As defined
in Rule 7.31E(g)(1), a Limit IOC Cross Order is a Cross Order that must
trade in full at its cross price, will not route, and will cancel at
the time of order entry if the cross price is not between the BBO or
would trade through the PBBO.
Due to a lack of demand for Cross Orders, the Exchange proposes to
discontinue supporting Cross Orders. Specifically, in the last three
months, the Exchange has not received any Cross Orders. Accordingly,
the Exchange proposes to delete the definition of Cross Order from Rule
7.31E(g), as well as the references to Cross Orders in Rules
7.10E(e)(1), 7.11E(a)(5)(E), 7.16E(f)(5)(H), 7.18E(c)(5),
7.34E(c)(1)(B), 7.34E(c)(1)(C), 7.34E(c)(2)(C), and 7.35E(f)(2). The
Exchange proposes to designate Rules 7.31E(g), 7.11E(a)(5)(E), and
7.16E(f)(5)(H) as Reserved and proposes to revise Rules 7.10E(e)(1),
7.18E(c)(5), 7.34E(c)(1)(B), 7.34E(c)(1)(C), 7.34E(c)(2)(C), and
7.35E(f)(2) to delete the references to Cross Orders. Subject to
effectiveness of this proposed rule change, the Exchange will announce
the implementation date of these changes through a Trader Update, which
the Exchange anticipates will be in November 2019.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the requirements of Section 6(b) of the Act,\4\ in general, and Section
6(b)(5) of the Act,\5\ in particular, in that it is designed to remove
impediments to and perfect the mechanism of a free and open market, to
promote just and equitable principles of trade, and, in general, to
protect investors and the public interest. Specifically, the Exchange
believes that the proposed rule change would remove impediments to and
perfect the mechanisms of a free and open market by eliminating a
little-used order type and improving the clarity of the Exchange's
rules. The Exchange further believes that deleting an order type rarely
used by investors also removes impediments to and perfects the
mechanism of a free and open market by facilitating market
participants' navigation of the Exchange's rulebook and improving their
ability to understand the order types available for trading on the
Exchange. Moreover, the Exchange believes that the elimination of Cross
Orders will simplify order processing and reduce the burden on system
capacity, which the Exchange believes is consistent with promoting just
and equitable principles of trade, as well as the protection of
investors and the public interest.
---------------------------------------------------------------------------
\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 would
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. Specifically, the Exchange
believes that the proposed rule change would relieve a burden on
competition by making the Exchange's rules easier to navigate and
promoting regulatory clarity through the elimination of a seldom-used
order type.
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) of the Act \6\ and Rule 19b-4(f)(6) thereunder.\7\ 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.\8\
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(A).
\7\ 17 CFR 240.19b-4(f)(6).
\8\ In addition, Rule 19b-4(f)(6) requires the Exchange to give
the Commission written notice of the Exchange's intent to file the
proposed rule change, along with a brief description and 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. The Exchange has satisfied this
requirement.
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) \9\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\10\ the Commission
may 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 proposal
may become operative immediately upon filing. The Exchange has
represented that this order type is rarely used and has not been used
in the last three months. The Commission believes that waiver of the
30-day operative delay period is consistent with the protection of
investors and the public interest and hereby waives the 30-day
operative delay and designates the proposed rule change operative upon
filing.\11\
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\9\ 17 CFR 240.19b-4(f)(6).
\10\ 17 CFR 240.19b-4(f)(6)(iii).
\11\ For purposes only of waiving the 30-day operative delay,
the Commission has 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 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) \12\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\12\ 15 U.S.C. 78s(b)(2)(B).
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[[Page 63950]]
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-2019-46 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-2019-46. 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 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-2019-46 and should be submitted
on or before December 10, 2019.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-24974 Filed 11-18-19; 8:45 am]
BILLING CODE 8011-01-P