Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change To Amend NYSE Rule 7.13, 79664-79666 [2024-22264]
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ddrumheller on DSK120RN23PROD with NOTICES1
79664
Federal Register / Vol. 89, No. 189 / Monday, September 30, 2024 / Notices
consistent with the protection of
investors and the public interest.
Accordingly, the Commission hereby
waives the 30-day operative delay and
designates the proposed rule change as
operative upon filing.29
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.
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. Do not include personal
identifiable information in submissions;
you should submit only information
that you wish to make available
publicly. We may redact in part or
withhold entirely from publication
submitted material that is obscene or
subject to copyright protection. All
submissions should refer to file number
SR–PEARL–2024–45 and should be
submitted on or before October 21,
2024.
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:
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.30
Vanessa A. Countryman,
Secretary.
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–
PEARL–2024–45 on the subject line.
SECURITIES AND EXCHANGE
COMMISSION
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–PEARL–2024–45. 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
29 For
purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
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[FR Doc. 2024–22266 Filed 9–27–24; 8:45 am]
BILLING CODE 8011–01–P
[Release No. 34–101154; File No. SR–ISE–
2024–35]
Self-Regulatory Organizations; Nasdaq
ISE, LLC; Notice of Designation of a
Longer Period for Commission Action
on a Proposed Rule Change To List
and Trade Options on the iShares
Ethereum Trust
September 24, 2024.
On July 22, 2024, Nasdaq ISE, LLC
(‘‘ISE’’) filed with the Securities and
Exchange Commission (‘‘Commission’’),
pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a
proposed rule change to amend Options
4, Section 3, Criteria for Underlying
Securities, to allow ISE to list and trade
options on the iShares Ethereum Trust.
The proposed rule change was
published for comment in the Federal
Register on August 12, 2024.3 The
Commission received no comment
letters regarding the proposed rule
change.
Section 19(b)(2) of the Act 4 provides
that within 45 days of the publication of
notice of the filing of a proposed rule
change, or within such longer period up
to 90 days as the Commission may
CFR 200.30–3(a)(12), (59).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 100661
(Aug. 6, 2024), 89 FR 65690.
4 15 U.S.C. 78s(b)(2).
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding, or as to which the
self-regulatory organization consents,
the Commission shall either approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether the
proposed rule change should be
disapproved. The 45th day after
publication of the notice for this
proposed rule change is September 26,
2024. The Commission is extending this
45-day time period.
The Commission finds it appropriate
to designate a longer period within
which to take action on the proposed
rule change so that it has sufficient time
to consider the proposed rule change.
Accordingly, the Commission, pursuant
to Section 19(b)(2) of the Act,5
designates November 10, 2024, as the
date by which the Commission shall
either approve or disapprove, or
institute proceedings to determine
whether to disapprove, the proposed
rule change (File No. SR–ISE–2024–35).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024–22267 Filed 9–27–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–101150; File No. SR–NYSE–
2024–58]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing of Proposed Rule Change To
Amend NYSE Rule 7.13
September 24, 2024.
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
September 12, 2024, New York Stock
Exchange LLC (‘‘NYSE’’ or the
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the self-regulatory
organization. The Commission is
publishing this notice to solicit
30 17
1 15
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Fmt 4703
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5 Id.
6 17
CFR 200.30–3(a)(31).
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. 89, No. 189 / Monday, September 30, 2024 / Notices
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
NYSE Rule 7.13 to remove references to
the Chair of the Board. 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
ddrumheller on DSK120RN23PROD with NOTICES1
1. Purpose
The Exchange proposes to amend
NYSE Rule 7.13 (Trading Suspensions)
to remove references to the Chair of the
Board of Directors of the Exchange
(‘‘Board’’).
Under current Rule 7.13,4 the Chair of
the Board or the chief executive officer
of the Exchange (the ‘‘CEO’’), or the
officer designee of the Chair or the CEO,
has the power to suspend trading on any
and all securities trading on the
Exchange whenever in his or her
opinion such suspension would be in
the public interest. No such action shall
continue longer than two days or as
soon thereafter as a quorum of Directors
can be assembled, unless the Board
approves the continuation of such
suspension.
The Exchange believes that it is
advisable to remove the references to
the Chair in Rule 7.13 because the Chair
4 The
current text of Rule 7.13 was adopted in
2021 to harmonize the Exchange’s rules with those
of its affiliates NYSE American LLC, NYSE Arca,
Inc., NYSE Chicago, Inc. and NYSE National, Inc.
(together, the ‘‘Affiliate SROs’’). See Securities and
Exchange Act Release No. 93309 (October 13, 2021),
86 FR 57862 (October 19, 2021) (SR–NYSE–2021–
60) (Notice of Filing and Immediate Effectiveness of
Proposed Rule Change To Amend Its Rules To Add
New Rule 7.13). The Affiliate SROs expect to make
the change proposed here.
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Jkt 262001
has not acted under Rule 7.13 since the
rule was adopted and the Exchange does
not anticipate that an independent or
non-employee Chair will have sufficient
involvement in the day-to-day
operations of the Exchange to act under
the Rule.
To effectuate the change, the Rule
would be amended as follows (proposed
deletions bracketed):
The [Chair of the Board or the] CEO,
or the officer designee of [the Chair or]
the CEO, shall have the power to
suspend trading in any and all securities
trading on the Exchange whenever in
his or her opinion such suspension
would be in the public interest.
The requirement that no such action
continue longer than two days or as
soon thereafter as a quorum of Directors
can be assembled, unless the Board
approves the continuation of such
suspension, would remain. No other
changes to Rule 7.13 are proposed.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,5 in general, and
furthers the objectives of Section
6(b)(1) 6 in particular, in that it enables
the Exchange to be so organized as to
have the capacity to be able to carry out
the purposes of the Act and to comply,
and to enforce compliance by its
exchange members and persons
associated with its exchange members,
with the provisions of the Act, the rules
and regulations thereunder, and the
rules of the Exchange. The Exchange
also believes that the proposed rule
change is consistent with Section 6(b)(5)
of the Act,7 in that 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. In addition, the
Exchange believes that the proposed
rule change is designed to provide fair
procedures for the denial of
membership to any person seeking
Exchange membership, the barring of
any person from becoming associated
with a member, and the prohibition or
limitation by the Exchange of any
person with respect to access to services
offered by the Exchange or a member
thereof, consistent with the objectives of
5 15
U.S.C. 78f(b).
U.S.C. 78f(b)(1).
7 15 U.S.C. 78f(b)(5).
6 15
PO 00000
Frm 00165
Fmt 4703
Sfmt 4703
79665
Section 6(b)(7) 8 and Section 6(d)(2) 9 of
the Act.
The proposed amendment would
enable the Exchange to continue to be
so organized as to have the capacity to
carry out the purposes of the Act,
thereby furthering the objectives of
Section 6(b)(1) 10 of the Act. Amending
Rule 7.13 to remove the references to
the Chair would contribute to the
orderly operation of the Exchange, as it
would make Rule 7.13 more accurately
reflect current practice, as the Chair has
not acted under Rule 7.13 since the rule
was adopted. It would also reflect the
fact that the Exchange does not
anticipate that an independent or nonemployee Chair will have sufficient
involvement in the day-to-day
operations of the Exchange to act under
the Rule. At the same time, the Chair
would continue to have an oversight
role, since the requirement would
remain that no suspension of trading
continue longer than two days or as
soon thereafter as a quorum of Directors
can be assembled, unless the Board
approves the continuation of such
suspension. Given that, the Board—
including the Chair—would continue to
oversee the length of time any
suspension of trading made under the
Rule would be in effect.
Because amended Rule 7.13 would
more accurately reflect current practice
while still giving the Chair an oversight
role, the Exchange believes that the
proposed change would be beneficial to
both investors and the public interest,
thereby promoting the maintenance of a
fair and orderly market and the
protection of investors and the public
interest consistent with Section 6(b)(5)
of the Act.11 For the same reasons, the
Exchange believes that the proposed
changes would continue to provide fair
procedures for the prohibition or
limitation by the Exchange of any
person with respect to access to services
offered by the Exchange consistent with
the objectives of Section 6(b)(7) 12 and
Section 6(d)(2) 13 of the Act.
For these reasons, the Exchange
believes that the proposal is consistent
with the Act.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange believes that the
proposal will not impose any burden on
competition that is not necessary or
appropriate in furtherance of the
8 15
U.S.C. 78f(b)(7).
U.S.C. 78f(d)(2).
10 15 U.S.C. 78f(b)(1).
11 15 U.S.C. 78f(b)(5).
12 15 U.S.C. 78f(b)(7).
13 15 U.S.C. 78f(d)(2).
9 15
E:\FR\FM\30SEN1.SGM
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79666
Federal Register / Vol. 89, No. 189 / Monday, September 30, 2024 / Notices
purposes of Section 6(b)(8) of the Act.14
The proposed rule change is not
intended to address competitive issues
but rather is concerned solely with
amending Rule 7.13 so that it more
accurately reflects current practice.
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
Within 45 days of the date of
publication of this notice in the Federal
Register or within such longer period
up to 90 days (i) as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding or (ii) as to which
the self-regulatory organization
consents, the Commission will:
(A) by order approve or disapprove
the proposed rule change, or
(B) institute proceedings to determine
whether the proposed rule change
should be 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:
ddrumheller on DSK120RN23PROD with NOTICES1
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–2024–58 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–2024–58. 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. Do not include personal
identifiable information in submissions;
you should submit only information
that you wish to make available
publicly. We may redact in part or
withhold entirely from publication
submitted material that is obscene or
subject to copyright protection. All
submissions should refer to file number
SR–NYSE–2024–58 and should be
submitted on or before October 21,
2024.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024–22264 Filed 9–27–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–101147; File No. SR–MIAX–
2024–36]
Self-Regulatory Organizations; Miami
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change To Amend the Fee Schedule
September 24, 2024.
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 10, 2024, Miami
International Securities Exchange, LLC
(‘‘MIAX’’ 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
15 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
14 15
U.S.C. 78f(b)(8).
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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 is filing a proposal to
amend the MIAX Options Exchange Fee
Schedule (the ‘‘Fee Schedule’’) to
amend Section 5)f), Member and NonMember Technical Support Request Fee.
The text of the proposed rule change
is available on the Exchange’s website at
https://www.miaxglobal.com/markets/
us-options/all-options-exchanges/rulefilings, at MIAX’s principal office, 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
forth in sections A, B, and C below, of
the most significant aspects 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
Section 5)f), Member and Non-Member
Technical Support Request Fee, to now
include in the fee to be assessed to
Members 3 and non-Members the cost of
materials necessary for the Exchange’s
data center personnel to complete such
technical support.
Background
The Exchange established the
technical support request fee at the
current hourly rate of $200 per hour in
2016.4 The Exchange has an
infrastructure comprised of low latency
and ultra-low latency proximity
solutions in several offsite data center
locales offering universal access to all
Exchange services via a single common
3 The term ‘‘Member’’ means an individual or
organization approved to exercise the trading rights
associated with a Trading Permit. Members are
deemed ‘‘members’’ under the Exchange Act. See
Exchange Rule 100.
4 See Securities Exchange Act Release No. 77989
(June 3, 2016), 81 FR 37219 (June 9, 2016) (SR–
MIAX–2016–13). See also Fee Schedule, Section
5)f).
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]]>Agencies
[Federal Register Volume 89, Number 189 (Monday, September 30, 2024)]
[Notices]
[Pages 79664-79666]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-22264]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-101150; File No. SR-NYSE-2024-58]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing of Proposed Rule Change To Amend NYSE Rule 7.13
September 24, 2024.
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 September 12, 2024, New York Stock Exchange LLC (``NYSE'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
[[Page 79665]]
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 NYSE Rule 7.13 to remove references
to the Chair of the Board. The proposed rule change is available on the
Exchange's website at www.nyse.com, at the principal office of the
Exchange, and at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend NYSE Rule 7.13 (Trading Suspensions)
to remove references to the Chair of the Board of Directors of the
Exchange (``Board'').
Under current Rule 7.13,\4\ the Chair of the Board or the chief
executive officer of the Exchange (the ``CEO''), or the officer
designee of the Chair or the CEO, has the power to suspend trading on
any and all securities trading on the Exchange whenever in his or her
opinion such suspension would be in the public interest. No such action
shall continue longer than two days or as soon thereafter as a quorum
of Directors can be assembled, unless the Board approves the
continuation of such suspension.
---------------------------------------------------------------------------
\4\ The current text of Rule 7.13 was adopted in 2021 to
harmonize the Exchange's rules with those of its affiliates NYSE
American LLC, NYSE Arca, Inc., NYSE Chicago, Inc. and NYSE National,
Inc. (together, the ``Affiliate SROs''). See Securities and Exchange
Act Release No. 93309 (October 13, 2021), 86 FR 57862 (October 19,
2021) (SR-NYSE-2021-60) (Notice of Filing and Immediate
Effectiveness of Proposed Rule Change To Amend Its Rules To Add New
Rule 7.13). The Affiliate SROs expect to make the change proposed
here.
---------------------------------------------------------------------------
The Exchange believes that it is advisable to remove the references
to the Chair in Rule 7.13 because the Chair has not acted under Rule
7.13 since the rule was adopted and the Exchange does not anticipate
that an independent or non-employee Chair will have sufficient
involvement in the day-to-day operations of the Exchange to act under
the Rule.
To effectuate the change, the Rule would be amended as follows
(proposed deletions bracketed):
The [Chair of the Board or the] CEO, or the officer designee of
[the Chair or] the CEO, shall have the power to suspend trading in any
and all securities trading on the Exchange whenever in his or her
opinion such suspension would be in the public interest.
The requirement that no such action continue longer than two days
or as soon thereafter as a quorum of Directors can be assembled, unless
the Board approves the continuation of such suspension, would remain.
No other changes to Rule 7.13 are proposed.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\5\ in general, and furthers the
objectives of Section 6(b)(1) \6\ in particular, in that it enables the
Exchange to be so organized as to have the capacity to be able to carry
out the purposes of the Act and to comply, and to enforce compliance by
its exchange members and persons associated with its exchange members,
with the provisions of the Act, the rules and regulations thereunder,
and the rules of the Exchange. The Exchange also believes that the
proposed rule change is consistent with Section 6(b)(5) of the Act,\7\
in that 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. In addition,
the Exchange believes that the proposed rule change is designed to
provide fair procedures for the denial of membership to any person
seeking Exchange membership, the barring of any person from becoming
associated with a member, and the prohibition or limitation by the
Exchange of any person with respect to access to services offered by
the Exchange or a member thereof, consistent with the objectives of
Section 6(b)(7) \8\ and Section 6(d)(2) \9\ of the Act.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(1).
\7\ 15 U.S.C. 78f(b)(5).
\8\ 15 U.S.C. 78f(b)(7).
\9\ 15 U.S.C. 78f(d)(2).
---------------------------------------------------------------------------
The proposed amendment would enable the Exchange to continue to be
so organized as to have the capacity to carry out the purposes of the
Act, thereby furthering the objectives of Section 6(b)(1) \10\ of the
Act. Amending Rule 7.13 to remove the references to the Chair would
contribute to the orderly operation of the Exchange, as it would make
Rule 7.13 more accurately reflect current practice, as the Chair has
not acted under Rule 7.13 since the rule was adopted. It would also
reflect the fact that the Exchange does not anticipate that an
independent or non-employee Chair will have sufficient involvement in
the day-to-day operations of the Exchange to act under the Rule. At the
same time, the Chair would continue to have an oversight role, since
the requirement would remain that no suspension of trading continue
longer than two days or as soon thereafter as a quorum of Directors can
be assembled, unless the Board approves the continuation of such
suspension. Given that, the Board--including the Chair--would continue
to oversee the length of time any suspension of trading made under the
Rule would be in effect.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78f(b)(1).
---------------------------------------------------------------------------
Because amended Rule 7.13 would more accurately reflect current
practice while still giving the Chair an oversight role, the Exchange
believes that the proposed change would be beneficial to both investors
and the public interest, thereby promoting the maintenance of a fair
and orderly market and the protection of investors and the public
interest consistent with Section 6(b)(5) of the Act.\11\ For the same
reasons, the Exchange believes that the proposed changes would continue
to provide fair procedures for the prohibition or limitation by the
Exchange of any person with respect to access to services offered by
the Exchange consistent with the objectives of Section 6(b)(7) \12\ and
Section 6(d)(2) \13\ of the Act.
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\11\ 15 U.S.C. 78f(b)(5).
\12\ 15 U.S.C. 78f(b)(7).
\13\ 15 U.S.C. 78f(d)(2).
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For these reasons, the Exchange believes that the proposal is
consistent with the Act.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange believes that the proposal will not impose any burden
on competition that is not necessary or appropriate in furtherance of
the
[[Page 79666]]
purposes of Section 6(b)(8) of the Act.\14\ The proposed rule change is
not intended to address competitive issues but rather is concerned
solely with amending Rule 7.13 so that it more accurately reflects
current practice.
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\14\ 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
Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
(A) by order approve or disapprove the proposed rule change, or
(B) institute proceedings to determine whether the proposed rule
change should be disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to [email protected]. Please include
file number SR-NYSE-2024-58 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-2024-58. 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. Do not
include personal identifiable information in submissions; you should
submit only information that you wish to make available publicly. We
may redact in part or withhold entirely from publication submitted
material that is obscene or subject to copyright protection. All
submissions should refer to file number SR-NYSE-2024-58 and should be
submitted on or before October 21, 2024.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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\15\ 17 CFR 200.30-3(a)(12).
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Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-22264 Filed 9-27-24; 8:45 am]
BILLING CODE 8011-01-P
