Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Exchange Rule 7.37 To Specify in Exchange Rules the Exchange's Source of Data Feeds From NYSE American LLC, 65444-65446 [2019-25706]
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Federal Register / Vol. 84, No. 229 / Wednesday, November 27, 2019 / Notices
(‘‘Plan’’).4 The amendment adds LTSE
as a Participant 5 to the Plan. The
Commission is publishing this notice to
solicit comments on the amendment
from interested persons.
I. Description and Purpose of the Plan
Amendment
As noted above, the sole proposed
amendment to the Plan is to add the
Exchange as a Participant. On May 10,
2019, the Commission issued an order
granting LTSE’s application for
registration as a national securities
exchange.6 A condition of the
Commission’s approval was the
requirement for LTSE to join the Plan.
Under Section II(c) of the Plan, any
entity registered as a national securities
exchange or national securities
association under the Exchange Act may
become a Participant by: (i) Executing a
copy of the Plan, as then in effect; (ii)
providing each then-current Participant
with a copy of such executed Plan; and
(iii) effecting an amendment to the Plan
as specified in Section III(b) of the Plan.
Section III(b) of the Plan sets forth the
process for a prospective new
Participant to effect an amendment of
the Plan. Specifically, the Plan provides
that such an amendment to the Plan
may be effected by the new national
securities exchange or national
securities association by executing a
copy of the Plan, as then in effect (with
the only changes being the addition of
the new Participant’s name in Section
II(a) of the Plan and the new
Participant’s single-digit code in Section
VI(a)(1) of the Plan) and submitting such
executed Plan to the Commission. The
amendment will be effective when it is
approved by the Commission in
accordance with Rule 608 of Regulation
NMS, or otherwise becomes effective
pursuant to Rule 608 of Regulation
NMS.
LTSE has executed a copy of the Plan
currently in effect, with the only
changes being the addition of its name
in Section II(a) of the Plan and adding
its single-digit code in Section VI(a)(1)
of the Plan, and has provided a copy of
the Plan executed by LTSE to each of
the other Participants. LTSE has also
submitted the executed Plan to the
4 17 CFR 242.605. On April 12, 2001, the
Commission approved a national market system
plan for the purpose of establishing procedures for
market centers to follow in making their monthly
reports available to the public under Rule 11Ac1–
5 under the Exchange Act (n/k/a Rule 605 of
Regulation NMS). See Securities Exchange Act
Release No. 44177 (April 12, 2001), 66 FR 19814
(April 17, 2001).
5 The term ‘‘Participant’’ is defined as a party to
the Plan.
6 See Securities Exchange Act Release No. 85828
(May 10, 2019), 84 FR 21841 (May 15, 2019).
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Jkt 250001
Commission. Accordingly, all of the
Plan requirements for effecting an
amendment to the Plan to add LTSE as
a Participant have been satisfied.
II. Effectiveness of the Proposed Plan
Amendment
The foregoing Plan amendment has
become effective pursuant to Rule
608(b)(3)(iii) of the Exchange Act 7
because it involves solely technical or
ministerial matters. At any time within
sixty days of the filing of this
amendment, the Commission may
summarily abrogate the amendment and
require that it be refiled pursuant to
paragraph (a)(1) of Rule 608,8 if it
appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or the maintenance of fair and
orderly markets, to remove impediments
to, and perfect the mechanisms of, a
national market system or otherwise in
furtherance of the purposes of the
Exchange Act.
III. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the amendment is
consistent with the Exchange 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 4–
518 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 4–518. 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
plan amendment that are filed with the
Commission, and all written
communications relating to the
amendment 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 LTSE. 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 4–518 and should be
submitted on or before December 12,
2019.
By the Commission.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–25799 Filed 11–26–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87580; File No. SR–NYSE–
2019–64]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend
Exchange Rule 7.37 To Specify in
Exchange Rules the Exchange’s
Source of Data Feeds From NYSE
American LLC
November 21, 2019.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that on November
15, 2019, New York Stock Exchange
LLC (‘‘NYSE’’ or ‘‘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 Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rule 7.37 to update the Exchange’s
1 15
7 17
CFR 242.608(b)(3)(iii).
8 17 CFR 242.608(a)(1).
PO 00000
Frm 00098
Fmt 4703
Sfmt 4703
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
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Federal Register / Vol. 84, No. 229 / Wednesday, November 27, 2019 / Notices
source of data feeds from NYSE
American LLC (‘‘NYSE American’’) for
purposes of order handling, order
execution, order routing, and regulatory
compliance. 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 update and
amend the use of data feeds table in
Rule 7.37, which sets forth on a marketby-market basis the specific securities
information 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 reflect that
the Exchange will receive a direct feed
from NYSE American as its primary
source of data for order handling, order
execution, order routing, and regulatory
compliance.
Rule 7.37 currently provides that the
Exchange will utilize the securities
information processor (‘‘SIP’’) data feed
as its primary source for the handling,
execution, and routing of orders, as well
as for regulatory compliance. In
connection with NYSE American’s
elimination of its delay mechanism,4 the
Exchange will begin using a direct feed
from NYSE American as its primary
data feed. To reflect this change, the
Exchange proposes to amend the table
in Rule 7.37(e) to specify that it will use
a direct feed from NYSE American,
rather than the SIP data feed, as the
primary source for that market, and that
the Exchange would use the SIP data
4 See SR–NYSEAmer–2019–48 (NYSE American
proposal to eliminate its delay mechanism, which
was filed on November 4, 2019).
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65445
feed as a secondary source for that
market.
The Exchange will implement this
change on the same date that NYSE
American eliminates its delay
mechanism, which, subject to
effectiveness of proposed rule changes,
will be implemented in November 2019.
The Exchange will announce this date
via Trader Update.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
2. Statutory Basis
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A) of the Act 7 and Rule 19b–
4(f)(6) thereunder.8 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.9
A proposed rule change filed under
Rule 19b–4(f)(6) 10 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b4(f)(6)(iii),11 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
represents that the proposal would
correctly identify and publicly state 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. Further, the Exchange
represents that the proposal would
enhance the clarity and transparency in
Exchange Rules. The Commission
believes that waiver of the 30-day
operative delay is consistent with the
protection of investors and the public
The proposed rule change is
consistent with Section 6(b) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),5 in general, and furthers the
objectives of Section 6(b)(5),6 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 amend the table in Rule
7.37(e) to update the data feed source
for NYSE American will ensure that
Rule 7.37 correctly identifies and
publicly states on a market-by-market
basis all of the specific securities
information processor and proprietary
data feeds that the Exchange utilizes for
the handling, execution, and routing of
orders, and for performing the
regulatory compliance checks for 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 by providing
additional specificity, clarity, and
transparency in the Exchange’s 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 change is not designed to
address any competitive issue, but
rather would provide the public and
investors with up-to-date information
about which data feeds the Exchange
uses for the handling, execution, and
routing of orders, as well as for
regulatory compliance.
5 15
6 15
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
Frm 00099
Fmt 4703
Sfmt 4703
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
7 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
9 In addition, Rule 19b–4(f)(6)(iii) 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.
10 17 CFR 240.19b–4(f)(6).
11 17 CFR 240.19b–4(f)(6)(iii).
8 17
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65446
Federal Register / Vol. 84, No. 229 / Wednesday, November 27, 2019 / Notices
interest, and hereby waives the
operative delay and designates the
proposed rule change as operative upon
filing.12
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) 13 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–
NYSE–2019–64 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–2019–64. 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
12 For purposes only of waiving the operative
delay for this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
13 15 U.S.C. 78s(b)(2)(B).
14 17 CFR 200.30–3(a)(12).
VerDate Sep<11>2014
20:21 Nov 26, 2019
Jkt 250001
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–NYSE–2019–64 and should
be submitted on or before December 18,
2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Eduardo Aleman,
Deputy Secretary.
[FR Doc. 2019–25706 Filed 11–26–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87594; File No. S7–24–89]
Consolidated Tape Association; Notice
of Filing and Immediate Effectiveness
of the Forty-Sixth Amendment to the
Joint Self-Regulatory Organization
Plan Governing the Collection,
Consolidation and Dissemination of
Quotation and Transaction Information
for Nasdaq-Listed Securities Traded on
Exchanges on an Unlisted Trading
Privileges Basis
November 22, 2019.
Pursuant to Section 11A of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 608 thereunder,2
notice is hereby given that on October
24, 2019,3 the Participants 4 in the Joint
Self-Regulatory Organization Plan
Governing the Collection, Consolidation
1 15
U.S.C. 78k–1(a)(3).
CFR 242.608.
3 See Letter from Robert Books, Chairman,
Operating Committee, UTP Plan, to Vanessa
Countryman, Secretary, Commission, dated October
23, 2019.
4 The Participants are: Cboe BYX Exchange, Inc.,
Cboe BZX Exchange, Inc., Cboe EDGA Exchange,
Inc., Cboe EDGX Exchange, Inc., Cboe Exchange,
Inc., Financial Industry Regulatory Authority, Inc.,
The Investors’ Exchange LLC, Long-Term Stock
Exchange, Inc., Nasdaq BX, Inc., Nasdaq ISE, LLC,
Nasdaq PHLX, Inc., The Nasdaq Stock Market LLC,
New York Stock Exchange LLC, NYSE American
LLC, NYSE Arca, Inc., NYSE Chicago, Inc., and
NYSE National, Inc. (collectively, the
‘‘Participants’’).
2 17
PO 00000
Frm 00100
Fmt 4703
Sfmt 4703
and Dissemination of Quotation and
Transaction Information for NasdaqListed Securities Traded on Exchanges
on an Unlisted Trading Privileges Basis
(‘‘UTP Plan’’ or ‘‘Plan’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) a proposal to amend
the UTP Plan. The amendment
represents the Forty-Sixth Amendment
to the Plan (‘‘Amendment’’). Under the
Amendment, the Participants propose to
add Long-Term Stock Exchange, Inc.
(‘‘LTSE’’) as a Participant to the Plan
and effectuate changes that certain
Participants have made to their names
and addresses.
The proposed Amendment has been
filed by the Participants pursuant to
Rule 608(b)(3)(ii) under Regulation
NMS 5 as concerned solely with the
administration of the Plan and as a
‘‘Ministerial Amendment’’ under
Section XVI of the Plan. As a result, the
Amendment becomes effective upon
filing and was submitted by the Chair of
the Plan’s Operating Committee. The
Commission is publishing this notice to
solicit comments on the Amendment
from interested persons. Set forth in
Sections I and II is the statement of the
purpose and summary of the
Amendment, along with the information
required by Rules 608(a) and 601(a)
under the Act, prepared and submitted
by the Participants to the Commission.
I. Rule 608(a)
A. Purpose of the Amendment
The above-captioned Amendment
adds LTSE as a Participant to the UTP
Plan and effectuates changes that certain
Participants have made to their names
and addresses, as set forth in Section
I(A) of the UTP Plan and to update the
listing of Participant identifying codes
set forth in Section VIII(C) of the UTP
Plan.
B. Governing or Constituent Documents
Not applicable.
C. Implementation of Amendment
Because the Amendment constitutes a
‘‘Ministerial Amendment’’ under
Section XVI of the UTP Plan, the Chair
of the UTP Plan’s Operating Committee
may submit the Amendment to the
Commission on behalf of the
Participants in the UTP Plan. Because
the Participants designate the
Amendment as concerned solely with
the administration of the UTP Plan, the
Amendment becomes effective upon
filing with the Commission.
5 17
CFR 242.608(b)(2).
E:\FR\FM\27NON1.SGM
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]]>Agencies
[Federal Register Volume 84, Number 229 (Wednesday, November 27, 2019)]
[Notices]
[Pages 65444-65446]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25706]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-87580; File No. SR-NYSE-2019-64]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Exchange Rule 7.37 To Specify in Exchange Rules the Exchange's
Source of Data Feeds From NYSE American LLC
November 21, 2019.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that on November 15, 2019, New York Stock Exchange LLC (``NYSE'' or
``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 Substance
of the Proposed Rule Change
The Exchange proposes to amend Rule 7.37 to update the Exchange's
[[Page 65445]]
source of data feeds from NYSE American LLC (``NYSE American'') for
purposes of order handling, order execution, order routing, and
regulatory compliance. 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 update and amend the use of data feeds
table in Rule 7.37, which sets forth on a market-by-market basis the
specific securities information 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
reflect that the Exchange will receive a direct feed from NYSE American
as its primary source of data for order handling, order execution,
order routing, and regulatory compliance.
Rule 7.37 currently provides that the Exchange will utilize the
securities information processor (``SIP'') data feed as its primary
source for the handling, execution, and routing of orders, as well as
for regulatory compliance. In connection with NYSE American's
elimination of its delay mechanism,\4\ the Exchange will begin using a
direct feed from NYSE American as its primary data feed. To reflect
this change, the Exchange proposes to amend the table in Rule 7.37(e)
to specify that it will use a direct feed from NYSE American, rather
than the SIP data feed, as the primary source for that market, and that
the Exchange would use the SIP data feed as a secondary source for that
market.
---------------------------------------------------------------------------
\4\ See SR-NYSEAmer-2019-48 (NYSE American proposal to eliminate
its delay mechanism, which was filed on November 4, 2019).
---------------------------------------------------------------------------
The Exchange will implement this change on the same date that NYSE
American eliminates its delay mechanism, which, subject to
effectiveness of proposed rule changes, will be implemented in November
2019. The Exchange will announce this date via Trader Update.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) of the
Securities Exchange Act of 1934 (the ``Act''),\5\ in general, and
furthers the objectives of Section 6(b)(5),\6\ 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 amend the table in Rule 7.37(e) to update the
data feed source for NYSE American will ensure that Rule 7.37 correctly
identifies and publicly states on a market-by-market basis all of the
specific securities information processor and proprietary data feeds
that the Exchange utilizes for the handling, execution, and routing of
orders, and for performing the regulatory compliance checks for 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 by providing additional specificity,
clarity, and transparency in the Exchange's rules.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 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 up-to-date information about which data feeds
the Exchange uses for the handling, execution, and routing of orders,
as well as for regulatory compliance.
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 \7\ and Rule 19b-4(f)(6) thereunder.\8\ 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.\9\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(6).
\9\ In addition, Rule 19b-4(f)(6)(iii) 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) \10\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(f)(6)(iii),\11\ 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 represents
that the proposal would correctly identify and publicly state 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. Further, the Exchange
represents that the proposal would enhance the clarity and transparency
in Exchange Rules. The Commission believes that waiver of the 30-day
operative delay is consistent with the protection of investors and the
public
[[Page 65446]]
interest, and hereby waives the operative delay and designates the
proposed rule change as operative upon filing.\12\
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\10\ 17 CFR 240.19b-4(f)(6).
\11\ 17 CFR 240.19b-4(f)(6)(iii).
\12\ For purposes only of waiving the operative delay for this
proposal, 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) \13\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\13\ 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-NYSE-2019-64 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-2019-64. 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-NYSE-2019-64 and should be submitted on
or before December 18, 2019.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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Eduardo Aleman,
Deputy Secretary.
[FR Doc. 2019-25706 Filed 11-26-19; 8:45 am]
BILLING CODE 8011-01-P
