Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Amend Its Equities Price List, 57532-57534 [2022-20272]
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57532
Federal Register / Vol. 87, No. 181 / Tuesday, September 20, 2022 / Notices
venues for order flow. In this regard,
proposed changes that facilitate
enhancements to the Exchange’s System
and Order entry protocols as well as
those that amend and clarify the
Exchange’s Rules regarding its Order
Attributes, are pro-competitive because
they bolster the efficiency, functionality,
and overall attractiveness of the
Exchange in an absolute sense and
relative to its peers.
Moreover, none of the proposed
changes will unduly burden intramarket competition among various
Exchange participants. Participants will
experience no competitive impact from
its proposals, as these proposals will
restate and reorganize portions of the
Rule to reflect the upgraded capabilities
of OUCH, as well as to render the
descriptions of OUCH’s new capabilities
easier to read and understand.
Commission shall institute proceedings
under Section 19(b)(2)(B) 24 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received.
Paper Comments
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 20 and Rule
19b–4(f)(6) thereunder.21 Because the
foregoing 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, it has
become effective pursuant to Section
19(b)(3)(A)(iii) of the Act 22 and Rule
19b–4(f)(6) thereunder.23
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
20 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
22 15 U.S.C. 78s(b)(3)(A)(iii).
23 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires a self-regulatory organization 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.
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21 17
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17:48 Sep 19, 2022
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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:
2022–35 and should be submitted on or
before October 12, 2022.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.25
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022–20270 Filed 9–19–22; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Electronic Comments
[Release No. 34–95770; File No. SR–
NYSEAMER–2022–38]
• 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–
PHLX–2022–35 on the subject line.
Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Change To Amend Its Equities Price
List
September 14, 2022.
• 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–PHLX–2022–35. 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
a.m. and 3 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–PHLX–
24 15
PO 00000
U.S.C. 78s(b)(2)(B).
Frm 00081
Fmt 4703
Sfmt 4703
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 August
31, 2022, 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 its
Equities Price List (‘‘Price List’’) to
eliminate obsolete fees for the
Exchange’s off-hours trading facility.
The Exchange proposes to implement
the fee changes effective September 1,
2022. The proposed 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
25 17
CFR 200.30–3(a)(12), (59).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
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Federal Register / Vol. 87, No. 181 / Tuesday, September 20, 2022 / Notices
of those statements may be examined at
the places specified in Item IV below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
of the most significant parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend its
Price List to eliminate obsolete fees for
the Exchange’s off-hours trading facility
known as Crossing Session II (‘‘CS II’’).
The Exchange proposes to implement
the fee changes effective September 1,
2022.
Background
Currently, the Exchange charges a fee
of $0.0004 per share (both sides) for
executions in CS II.4 Fees for executions
in CS II are capped at $100,000 per
month per member organization.
The Exchange recently determined to
decommission CS II and delete the rules
governing the off-hours trading facility,
effective September 1, 2022.5 Since the
Exchange will no longer be offering an
after-hours trading session effective
September 1, 2022, the Exchange
accordingly proposes to delete the fees
relating to CS II. To effectuate this
change, the Exchange would delete
Section IV of the Price List titled ‘‘Fees
for Off-Hours Trading Facility’’ in its
entirety as obsolete. Current Items V
(Port Fees) and VI (ETP Fee) of the Price
List would be re-numbered.
The proposed changes are not
otherwise intended to address other
issues, and the Exchange is not aware of
any significant problems that market
participants would have in complying
with the proposed changes.
2. Statutory Basis
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The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,6 in general, and
furthers the objectives of Sections
6(b)(4) and (5) of the Act,7 in particular,
because it provides for the equitable
allocation of reasonable dues, fees, and
other charges among its members,
issuers and other persons using its
facilities and does not unfairly
4 See
note 10, supra. [sic]
Securities Exchange Act Release No. 95499
(August 12, 2022), 87 FR 50894 (August 18, 2022)
(SR–NYSEAMER–2022–35) (Notice of Filing and
Immediate Effectiveness of Proposed Rule Change
to Delete Current Rule 7.39E).
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(4) & (5).
5 See
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17:48 Sep 19, 2022
Jkt 256001
discriminate between customers,
issuers, brokers or dealers.
The Proposed Change Is Reasonable
The Exchange believes that the
proposed elimination of after-hours
trading facility fees is reasonable
because, effective September 1, 2022,
the fees are no longer charged. The
Exchange believes it is reasonable to
delete obsolete fees from the Price List
because it would streamline the Price
List and reduce confusion as to which
fees are applicable on the Exchange. The
Exchange believes that amending the
Price List to remove fees that are no
longer charged would promote the
protection of investors and the public
interest because it would promote
clarity and transparency in the Price
List, thereby enabling market
participants to navigate the Exchange’s
Price List more easily.
The Proposal Is an Equitable Allocation
of Fees
The Exchange believes the proposal
equitably allocates its fees among its
market participants because the obsolete
after-hours trading facility fees that the
Exchange proposes to eliminate would
be eliminated in their entirety, and
would no longer be available to any
member organization in any form.
Similarly, the Exchange believes the
proposal equitably allocates fees among
its market participants because
elimination of obsolete fees would
apply to all similarly-situated member
organizations on an equal basis. All
such member organizations would
continue to be subject to the same fee
structure, and access to the Exchange’s
market would continue to be offered on
fair and nondiscriminatory terms.
The Proposal Is Not Unfairly
Discriminatory
The Exchange believes that the
proposal is not unfairly discriminatory
because it neither targets nor will it
have a disparate impact on any
particular category of market
participant. The Exchange believes that
the proposal is not unfairly
discriminatory because the proposed
elimination of the obsolete fees would
affect all similarly-situated market
participants on an equal and nondiscriminatory basis. The Exchange
believes that eliminating obsolete fees
would no longer be available to any
member organization on an equal basis.
The Exchange also believes that the
proposed change would protect
investors and the public interest
because the deletion of obsolete fees
would make the Price List more
accessible and transparent and facilitate
PO 00000
Frm 00082
Fmt 4703
Sfmt 4703
57533
market participants’ understanding of
the fees charged for services currently
offered by the Exchange.
Finally, the Exchange believes that it
is subject to significant competitive
forces, as described below in the
Exchange’s statement regarding the
burden on competition. For the
foregoing reasons, the Exchange believes
that the proposal is consistent with the
Act.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
In accordance with Section 6(b)(8) of
the Act,8 the Exchange believes that the
proposed rule change would not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. Instead, as
discussed above, the proposal relates
solely to elimination of obsolete fees for
a decommissioned after-hours trading
facility and, as such, would not have
any impact on intra- or inter-market
competition because the proposed
change is solely designed to accurately
reflect the services that the Exchange
currently offers, thereby adding clarity
to the Price List.
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 foregoing rule change is effective
upon filing pursuant to Section
19(b)(3)(A) 9 of the Act and
subparagraph (f)(2) of Rule 19b–4 10
thereunder, because it establishes a due,
fee, or other charge imposed by the
Exchange.
At any time within 60 days of the
filing of such proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
under Section 19(b)(2)(B) 11 of the Act to
determine whether the proposed rule
8 15
U.S.C. 78f(b)(8).
U.S.C. 78s(b)(3)(A).
10 17 CFR 240.19b–4(f)(2).
11 15 U.S.C. 78s(b)(2)(B).
9 15
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57534
Federal Register / Vol. 87, No. 181 / Tuesday, September 20, 2022 / Notices
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:
• 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–2022–38 on the subject
line.
Paper Comments
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BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend
Equity 4, Rules 4120, 4702 and 4703 in
Light of Planned Changes to the
System
September 14, 2022.
• 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–2022–38. 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
a.m. and 3 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–2022–38, and should be
submitted on or before October 11,
2022.
17:48 Sep 19, 2022
[FR Doc. 2022–20272 Filed 9–19–22; 8:45 am]
[Release No. 34–95768; File No. SR–
NASDAQ–2022–051]
Electronic Comments
VerDate Sep<11>2014
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
J. Matthew DeLesDernier,
Deputy Secretary.
Jkt 256001
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on
September 9, 2022, The Nasdaq Stock
Market LLC (‘‘Nasdaq’’ or ‘‘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 Exchange. 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
Equity 4, Rules 4120, 4702 and 4703 3 in
light of planned changes to the System.
The text of the proposed rule change
is available on the Exchange’s website at
https://listingcenter.nasdaq.com/
rulebook/nasdaq/rules, 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
Exchange 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 these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
12 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 References herein to Nasdaq Rules in the 4000
Series shall mean Rules in Nasdaq Equity 4.
1 15
PO 00000
Frm 00083
Fmt 4703
Sfmt 4703
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 is preparing to
introduce a new upgraded version of the
OUCH Order entry protocol 4 that will
enable the Exchange to make functional
enhancements and improvements to
specific Order Types 5 and Order
Attributes.6 Specifically, enhancements
to OUCH will enable the Exchange to
upgrade the logic and implementation
of these Order Types and Order
Attributes so that the features are more
robust, streamlined, and harmonized
across the Exchange’s Systems and
Order entry protocols. The Exchange
developed OUCH with simplicity in
mind, and therefore, it presently lacks
certain complex order handling
capabilities. By contrast, the Exchange
specifically designed its RASH Order
Entry Protocol 7 to support advanced
functionality, including discretion,
random reserve, pegging and routing.
The introduction of OUCH upgrades
will enable participants to utilize
OUCH, in addition to RASH, to enter
Order Types that require advanced
functionality. Thus, the proposal does
not seek to introduce new functionality,
but rather, it offers to OUCH users
advanced functionality that already
exists for RASH users.
The Exchange plans to implement its
enhancement of the OUCH protocol
4 The OUCH Order entry protocol is a proprietary
protocol that allows subscribers to quickly enter
orders into the System and receive executions.
OUCH accepts limit Orders from members, and if
there are matching Orders, they will execute. Nonmatching Orders are added to the Limit Order Book,
a database of available limit Orders, where they are
matched in price-time priority. OUCH only
provides a method for members to send Orders and
receive status updates on those Orders. See https://
www.nasdaqtrader.com/Trader.aspx?id=OUCH.
5 An ‘‘Order Type’’ is a standardized set of
instructions associated with an Order that define
how it will behave with respect to pricing,
execution, and/or posting to the Exchange Book
when submitted to Nasdaq. See Equity 1, Section
1(a)(7).
6 An ‘‘Order Attribute’’ is a further set of variable
instructions that may be associated with an Order
to further define how it will behave with respect to
pricing, execution, and/or posting to the Exchange
Book when submitted to the Exchange. See id.
7 The RASH (Routing and Special Handling)
Order entry protocol is a proprietary protocol that
allows members to enter Orders, cancel existing
Orders and receive executions. RASH allows
participants to use advanced functionality,
including discretion, random reserve, pegging and
routing. See https://nasdaqtrader.com/content/
technicalsupport/specifications/TradingProducts/
rash_sb.pdf.
E:\FR\FM\20SEN1.SGM
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]]>Agencies
[Federal Register Volume 87, Number 181 (Tuesday, September 20, 2022)]
[Notices]
[Pages 57532-57534]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-20272]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-95770; File No. SR-NYSEAMER-2022-38]
Self-Regulatory Organizations; NYSE American LLC; Notice of
Filing and Immediate Effectiveness of Proposed Change To Amend Its
Equities Price List
September 14, 2022.
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 August 31, 2022, 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 its Equities Price List (``Price
List'') to eliminate obsolete fees for the Exchange's off-hours trading
facility. The Exchange proposes to implement the fee changes effective
September 1, 2022. The proposed 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
[[Page 57533]]
of those statements may be examined at the places specified in Item IV
below. The Exchange has prepared summaries, set forth in sections A, B,
and C below, of the most significant parts of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend its Price List to eliminate obsolete
fees for the Exchange's off-hours trading facility known as Crossing
Session II (``CS II'').
The Exchange proposes to implement the fee changes effective
September 1, 2022.
Background
Currently, the Exchange charges a fee of $0.0004 per share (both
sides) for executions in CS II.\4\ Fees for executions in CS II are
capped at $100,000 per month per member organization.
---------------------------------------------------------------------------
\4\ See note 10, supra. [sic]
---------------------------------------------------------------------------
The Exchange recently determined to decommission CS II and delete
the rules governing the off-hours trading facility, effective September
1, 2022.\5\ Since the Exchange will no longer be offering an after-
hours trading session effective September 1, 2022, the Exchange
accordingly proposes to delete the fees relating to CS II. To
effectuate this change, the Exchange would delete Section IV of the
Price List titled ``Fees for Off-Hours Trading Facility'' in its
entirety as obsolete. Current Items V (Port Fees) and VI (ETP Fee) of
the Price List would be re-numbered.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 95499 (August 12,
2022), 87 FR 50894 (August 18, 2022) (SR-NYSEAMER-2022-35) (Notice
of Filing and Immediate Effectiveness of Proposed Rule Change to
Delete Current Rule 7.39E).
---------------------------------------------------------------------------
The proposed changes are not otherwise intended to address other
issues, and the Exchange is not aware of any significant problems that
market participants would have in complying with the proposed changes.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\6\ in general, and furthers the
objectives of Sections 6(b)(4) and (5) of the Act,\7\ in particular,
because it provides for the equitable allocation of reasonable dues,
fees, and other charges among its members, issuers and other persons
using its facilities and does not unfairly discriminate between
customers, issuers, brokers or dealers.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(4) & (5).
---------------------------------------------------------------------------
The Proposed Change Is Reasonable
The Exchange believes that the proposed elimination of after-hours
trading facility fees is reasonable because, effective September 1,
2022, the fees are no longer charged. The Exchange believes it is
reasonable to delete obsolete fees from the Price List because it would
streamline the Price List and reduce confusion as to which fees are
applicable on the Exchange. The Exchange believes that amending the
Price List to remove fees that are no longer charged would promote the
protection of investors and the public interest because it would
promote clarity and transparency in the Price List, thereby enabling
market participants to navigate the Exchange's Price List more easily.
The Proposal Is an Equitable Allocation of Fees
The Exchange believes the proposal equitably allocates its fees
among its market participants because the obsolete after-hours trading
facility fees that the Exchange proposes to eliminate would be
eliminated in their entirety, and would no longer be available to any
member organization in any form. Similarly, the Exchange believes the
proposal equitably allocates fees among its market participants because
elimination of obsolete fees would apply to all similarly-situated
member organizations on an equal basis. All such member organizations
would continue to be subject to the same fee structure, and access to
the Exchange's market would continue to be offered on fair and
nondiscriminatory terms.
The Proposal Is Not Unfairly Discriminatory
The Exchange believes that the proposal is not unfairly
discriminatory because it neither targets nor will it have a disparate
impact on any particular category of market participant. The Exchange
believes that the proposal is not unfairly discriminatory because the
proposed elimination of the obsolete fees would affect all similarly-
situated market participants on an equal and non-discriminatory basis.
The Exchange believes that eliminating obsolete fees would no longer be
available to any member organization on an equal basis. The Exchange
also believes that the proposed change would protect investors and the
public interest because the deletion of obsolete fees would make the
Price List more accessible and transparent and facilitate market
participants' understanding of the fees charged for services currently
offered by the Exchange.
Finally, the Exchange believes that it is subject to significant
competitive forces, as described below in the Exchange's statement
regarding the burden on competition. For the foregoing reasons, the
Exchange believes that the proposal is consistent with the Act.
B. Self-Regulatory Organization's Statement on Burden on Competition
In accordance with Section 6(b)(8) of the Act,\8\ the Exchange
believes that the proposed rule change would not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. Instead, as discussed above, the proposal relates
solely to elimination of obsolete fees for a decommissioned after-hours
trading facility and, as such, would not have any impact on intra- or
inter-market competition because the proposed change is solely designed
to accurately reflect the services that the Exchange currently offers,
thereby adding clarity to the Price List.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b)(8).
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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 foregoing rule change is effective upon filing pursuant to
Section 19(b)(3)(A) \9\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \10\ thereunder, because it establishes a due, fee, or other charge
imposed by the Exchange.
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\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(2).
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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
[[Page 57534]]
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-2022-38 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-2022-38. 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 a.m. and 3
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-2022-38, and should be
submitted on or before October 11, 2022.
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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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-20272 Filed 9-19-22; 8:45 am]
BILLING CODE 8011-01-P
