66918 Federal Register / Vol. 88, No. 187 / Thursday, September 28, 2023 / Notices 

Fingerprint Plan of the Financial Industry 

Regulatory Authority, Inc.). Pursuant to the 2021 

Fingerprint Plan, FINRA channels fingerprints for 

transfer agents and clearing agencies. FINRA will 

continue to channel fingerprints for these personnel 

consistent with the 2021 Fingerprint Plan until the 

Plan is declared effective or September 29, 2023, 

whichever is earlier. The Plan will continue 

without changes the processes established under 

the 2021 Fingerprint Plan for broker-dealer 

personnel, as well as FINRA’s officers, directors, 

employees and contractors. 

2For purposes of the Plan, the term ‘‘members’’ 

includes Capital Acquisition Brokers, Funding 

Portals and applicants for FINRA membership. 

3The FBI-Approved Channel Partner is one of a 

limited number of entities approved by the FBI to 

submit fingerprints to the FBI and receive the 

results on behalf of an organization using that 

information for authorized non-criminal justice 

purposes (e.g., employment suitability, licensing 

determinations, etc.). The FBI reviews and approves 

all outsourced channeling relationships consistent 

with its outsourcing standards and protocols. As 

outlined in the September 28, 2021 letter from the 

FBI’s National Crime Prevention and Privacy 

Compact Council Office (‘‘CCO Letter’’), the FBI has 

reviewed and conditionally granted permission to 

FINRA to use a specified FBI-Approved Channel 

Partner contingent upon FINRA filing a fingerprint 

plan with the Commission and the Commission 

declaring that fingerprint plan effective. See CCO 

Letter, available at https://www.finra.org/ 

registration-exams-ce/classic-crd/fingerprints. The 

terms of the CCO Letter are incorporated by 

reference in the Plan. 

4On its website, FINRA informs its members and 

other broker-dealers of the availability of fingerprint 

services and any fees charged by FINRA in 

connection with those services and the processing 

of fingerprints pursuant to this Plan. See https://

www.finra.org/registration-exams-ce/classic-crd/ 

fingerprints. 

5FINRA’s records policy is to maintain all 

records for at least five years. 

6These systems include the Central Registration 

Depository (CRD®) and the Funding Portal 

Registration Depository (FPRD®). 

7See supra note 4. 

8Securities Exchange Act Release No. 50157 

(August 5, 2004), 69 FR 49924 (August 12, 2004) 

(Notice of Filing and Immediate Effectiveness of 

File No. SR–NASD–2004–095). 

1 15 U.S.C. 78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

The purpose of this Plan is to facilitate 

compliance with section 17(f)(2) of the 

Exchange Act by providing a program for 

FINRA members,2 other broker-dealers, 

transfer agents, clearing agencies, and FINRA 

to have the fingerprints of their partners, 

directors, officers, and employees processed 

by the Attorney General of the United States 

or its designee (hereinafter ‘‘Attorney 

General’’). 

1. Members and Other Broker-Dealers 

FINRA partners with an FBI-approved 

private channeler (‘‘FBI-Approved Channel 

Partner’’) 3 to process fingerprints and 

identifying information from personnel of 

members and other broker-dealers required to 

be fingerprinted pursuant to Exchange Act 

section 17(f)(2) and Rule 17f–2 thereunder. 

The FBI-Approved Channel Partner 

fingerprints such personnel or accepts 

fingerprints of such personnel (either in 

electronic or hard copy format) and submits 

such fingerprints to the Attorney General for 

processing consistent with protocols and 

requirements established by the Attorney 

General.4

FINRA receives results from the FBIApproved Channel Partner after the 

fingerprints have been processed by the 

Attorney General and makes those results 

available to authorized recipients (i.e., to a 

member or other broker-dealer that submitted 

the fingerprints and to regulators, as 

appropriate, for licensing, registration and 

other regulatory purposes), consistent with 

protocols and requirements established by 

the Attorney General. With respect to 

members and other broker-dealers, FINRA 

also reviews any Criminal History Record 

Information returned by the Attorney General 

to identify persons who may be subject to 

statutory disqualification under the Exchange 

Act and to take action, as appropriate, with 

respect to such persons. 

FINRA maintains copies of fingerprint 

processing results received from the Attorney 

General with respect to fingerprints 

submitted by the FBI-Approved Channel 

Partner pursuant to this Plan in accordance 

with FINRA’s records policy.5 Any 

maintenance of fingerprint records by FINRA 

shall be for FINRA’s own administrative 

purposes; FINRA is not undertaking to 

maintain fingerprint records on behalf of 

FINRA members pursuant to Exchange Act 

Rule 17f–2(d)(2). FINRA records in FINRA 

systems the status of fingerprints of 

personnel of members and other brokerdealers submitted to the Attorney General.6

Through these systems, FINRA makes 

available to a member or other broker-dealer 

that has submitted fingerprints the status and 

results of such fingerprints after submission 

to the Attorney General. 

2. Transfer Agents and Clearing Agencies 

FINRA is partnering with an FBI-Approved 

Channel Partner to provide transfer agents 

and clearing agencies the option to process 

fingerprints and identifying information for 

their personnel who are required to be 

fingerprinted pursuant to Exchange Act 

section 17(f)(2) and Rule 17f–2 thereunder. 

The FBI-Approved Channel Partner 

fingerprints such personnel or accepts 

fingerprints of such personnel (either in 

electronic or hard copy format) 7 from a 

transfer agent or clearing agency that elects 

to use it and submits such fingerprints to the 

Attorney General for processing consistent 

with protocols and requirements established 

by the Attorney General. After receiving the 

processed results, FINRA makes them 

available to the submitting transfer agent or 

clearing agency (i.e., an authorized recipient 

of the results) consistent with protocols and 

requirements established by the Attorney 

General. 

3. FINRA Personnel 

FINRA partners with the FBI-Approved 

Channel Partner to obtain fingerprints and 

identifying information from FINRA 

personnel who are required to be 

fingerprinted under Exchange Act section 

17(f)(2) and consistent with its Policy to 

Conduct Fingerprint-Based Background 

Checks (‘‘Fingerprint Policy’’).8 The FBIApproved Channel Partner transmits 

fingerprints to the Attorney General for 

identification and processing consistent with 

protocols and requirements established by 

the Attorney General and securely makes the 

results available to FINRA after the 

fingerprints have been processed. FINRA 

evaluates the fingerprint results and takes 

any appropriate action in accordance with 

the terms of the Fingerprint Policy. 

[FR Doc. 2023–21135 Filed 9–27–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98484; File No. SR– 

NYSEAMER–2023–45] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Change To Modify Rule 980NYP 

September 22, 2023. 

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 18, 2023, NYSE American 

LLC (‘‘NYSE American’’ or the 

‘‘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 modify 

Rule 980NYP(g)(1) to expand the 

existing Complex Strategy Limit. 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. 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 187 / Thursday, September 28, 2023 / Notices 66919 

4Rule 980NYP(a)(7) defines an ‘‘Electronic 

Complex Order’’ or ‘‘ECO’’ to mean any Complex 

Order, as defined in Rule 900.3NYP(f). Rule 

900.3NYP(f) (providing a Complex Order is ‘‘any 

order involving the simultaneous purchase and/or 

sale of two or more option series in the same 

underlying security, for the same account, in a ratio 

that is equal to or greater than one-to-three (.333) 

and less than or equal to three-to-one (3.00) and for 

the purpose of executing a particular investment 

strategy.’’). 

5The Exchange notes that this proposed change 

modifies a Pillar rule (i.e., with a ‘‘P’’ modifier) that 

has not yet been implemented. The Exchange 

anticipates migrating to its Pillar trading platform 

beginning on October 23, 2023. As is the case with 

all Pillar rules, this proposed rule change (as well 

as the entire Rule 980NYP) will not be implemented 

until all other Pillar-related rule filings are 

approved or operative, as applicable, and the 

Exchange announces the migration of underlying 

symbols to Pillar by Trader Update. 

6See proposed Rule 980NYP(g)(1) (Complex 

Strategy Limits). A ‘‘complex strategy’’ means a 

particular combination of leg components and their 

ratios to one another. New complex strategies can 

be created when the Exchange receives either a 

request to create a new complex strategy or an ECO 

with a new complex strategy. See Rule 

980NYP(a)(4). 

7See Securities Exchange Act Release No. 98278 

(September 1, 2023), 88 FR 62113 (September 8, 

2023) (SR–NYSEARCA–2023–56) (immediately 

effective rule change to modify Rule 6.91P–O(g) to 

expand the existing Complex Strategy Limit to 

include a limit on complex strategies per symbol, 

per day). 

8See, e.g., Cboe Rule 5.33(a) (providing, in its 

definition of ‘‘complex strategy’’ that Cboe ‘‘may 

limit the number of new complex strategies that 

may be in the [Cboe] System or entered for any 

EFID (which EFID limit would be the same for all 

Users) at a particular time’’). 

9An ATP Holder is a natural person, sole 

proprietorship, partnership, corporation, limited 

liability company or other organization, in good 

standing, which has been issued an ATP, and 

references to ‘‘member’’, and ‘‘member 

organization’’ as those terms are used in the Rules 

of the Exchange should be deemed to be references 

to ATP Holders. See Rule 900.2NY. An ATP is an 

American Trading Permit issued by the Exchange 

for effecting approved securities transactions on the 

Exchange’s Trading Facilities. See id. 

10Per Rule 900.2NY, an MPID refers to the 

identifier assigned to the orders and quotes of a 

single ATP Holder for the execution and clearing 

of trades on the Exchange by that permit holder. An 

ATP Holder may obtain multiple MPIDs and each 

such MPID may be associated with one or more subidentifiers of that MPID.’’ See id. 

11See proposed Rule 980NYP(g)(1) (Complex 

Strategy Limits). 

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 modify 

Rule 980NYP(g) regarding risk checks of 

Electronic Complex Orders (or ECOs) 4

to expand the existing Complex Strategy 

Limit.5 Specifically, the Exchange 

proposes to impose a limit on complex 

strategies per underlying symbol, as 

described below.6 The Exchange notes 

that an identical rule change was 

recently adopted on its affiliated 

exchange, NYSE Arca, Inc. (‘‘NYSE 

Arca’’) and therefore this proposal raises 

no new or novel issues not previously 

considered by the Commission.7 In 

addition, at least one other options 

exchange likewise may impose a limit 

on new complex order strategies.8

Rule 980NYP(g) describes the ‘‘ECO 

Risk Checks,’’ which are designed to 

help ATP Holders to effectively manage 

risk when trading ECOs.9 Rule 

980NYP(g)(1) sets forth the ‘‘Complex 

Strategy Limit,’’ which establishes a 

limit on the maximum number of new 

complex strategies that may be 

requested to be created per Market 

Participant Identifier or MPID, which 

limit would be announced by Trader 

Update.10 Under current functionality, 

when an MPID reaches the limit on the 

maximum number of new complex 

strategies, the Exchange rejects all 

requests to create new complex 

strategies from that MPID for the rest of 

the trading day. 

Notwithstanding the established 

Complex Strategy Limit, Rule 

980NYP(g)(1) also authorizes the 

Exchange to reject a request to create a 

new complex strategy from any MPID 

whenever the Exchange determines it is 

necessary in the interests of a fair and 

orderly market. The established 

Complex Strategy Limit (the ‘‘Strategy 

Limit’’), and the Exchange’s discretion 

related thereto, is a system protection 

tool that enables the Exchange to 

prevent any single MPID from creating 

more than a limited number of complex 

strategies during the trading day. 

The Exchange proposes to modify 

Rule 980NYP(g)(1) to adopt another 

limit for the number of permissible 

complex strategies requested to be 

created by an MPID in a trading day, 

except that the new limit would be 

based on the number of complex 

strategies in the same underlying 

symbol (the ‘‘Strategy Limit per 

Symbol’’). Like the existing Strategy 

Limit, the proposed Strategy Limit per 

Symbol would operate as a system 

protection tool that enables the 

Exchange to prevent any single MPID 

from creating more than a limited 

number of complex strategies in a 

particular symbol during the trading 

day. 

The Exchange has observed that the 

high volume of requests to create 

complex strategies in the same 

underlying symbol can tax Exchange 

resources and result in latency in 

providing acknowledgements to ATP 

Holders for all series in that same 

underlying symbol. As such, the 

proposed Strategy Limit per Symbol 

would augment and add granularity to 

the existing Complex Strategy Limit by 

allowing the Exchange to establish 

separate limits based on the underlying 

symbol. The Exchange believes that 

MPIDs may benefit from this added 

granularity. For example, an MPID that 

sends a significant number of complex 

series creation requests for a particular 

underlying symbol may breach the 

Strategy Limit per Symbol for that 

underlying. However, that MPID would 

continue to have the ability to request 

complex strategies in other symbols— 

unless or until that MPID breaches the 

Strategy Limit per Symbol in a different 

symbol or—in the aggregate—breaches 

the Complex Strategy Limit. Thus, the 

Exchange believes that the proposed 

change would benefit all market 

participants because it would curtail (or 

remove) the latency that has at times 

resulted from the Exchange receiving a 

significant number of requests for new 

complex strategies in the same 

underlying. 

To accommodate the proposed 

change, the Exchange proposes to 

reorganize and re-word certain of the 

existing text without changing 

functionality. As proposed, Rule 

980NYP(g)(1) would be re-named (in 

plural) ‘‘Complex Strategy Limits’’ (as 

opposed to a singular ‘‘Complex 

Strategy Limit’’) and would state the 

following: 

The Exchange will establish limits, which 

will be announced by Trader Update, on (A) 

the maximum number of new complex 

strategies (irrespective of the underlying 

symbol) that an MPID may request be created 

(the ‘‘Strategy Limit’’); and (B) the maximum 

number of new complex strategies in a 

particular underlying symbol that an MPID 

may request be created (the ‘‘Strategy Limit 

per Symbol’’). When an MPID breaches the 

Strategy Limit, the Exchange will reject for 

the rest of the trading day, all requests from 

that MPID to create new complex strategies. 

When an MPID breaches the Strategy Limit 

per Symbol in a particular underlying, the 

Exchange will reject for the rest of the trading 

day all requests from that MPID to create 

complex strategies in that underlying symbol. 

Notwithstanding the established Strategy 

Limit and Strategy Limit per Symbol, the 

Exchange may reject a request to create a new 

complex strategy from any MPID whenever 

the Exchange determines it is necessary in 

the interests of a fair and orderly market.11

For example, if the Strategy Limit is 

100, an MPID has already requested and 

created 100 complex strategies in a 

trading day, the Exchange will reject 

any request for the 101st complex 

strategy for the remainder of the trading 

day. The same logic applies for the 

Strategy Limit per Symbol such that if 

this limit is 50 and an MPID has already 

requested and created 50 complex 

strategies in the underlying symbol XYZ 


ddrumheller on DSK120RN23PROD with NOTICES1
66920 Federal Register / Vol. 88, No. 187 / Thursday, September 28, 2023 / Notices 

12 15 U.S.C. 78f(b). 

13 15 U.S.C. 78f(b)(5). 

14 15 U.S.C. 78s(b)(3)(A)(iii). 

15 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 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. 

in a trading day, the Exchange will 

reject any request for the 51st complex 

strategy in XYZ for the remainder of the 

trading day. 

The Exchange believes that this 

proposed modification is merely an 

extension of existing functionality that 

would help the Exchange add 

granularity to, and better calibrate, its 

risk settings related to the number of 

Complex Strategies per Symbol for an 

MPID per trading day and is therefore 

non-controversial. 

Implementation 

This proposed change modifies a 

Pillar rule (i.e., with a ‘‘P’’ modifier). As 

is the case with all Pillar rules, this 

proposed rule change (as well as the 

entire Rule 980NYP) will not be 

implemented until all other Pillarrelated rule filings are approved or 

operative, as applicable, and the 

Exchange announces the migration of 

underlying symbols to Pillar by Trader 

Update. 

2. Statutory Basis 

The proposed rule change is 

consistent with section 6(b) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),12 in general, and furthers the 

objectives of section 6(b)(5),13 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 has observed that the 

high volume of requests to create 

complex strategies in the same 

underlying symbol can tax Exchange 

resources and result in latency in 

providing acknowledgements to ATP 

Holders for all series in that underlying 

symbol. As such, the proposed Strategy 

Limit per Symbol would augment and 

add granularity to the existing Complex 

Strategy Limit by allowing the Exchange 

to establish separate limits based on the 

underlying symbol. The Exchange 

believes that MPIDs may benefit from 

this added granularity. For example, an 

MPID that sends a significant number of 

complex series creation requests for a 

particular underlying symbol may 

breach the Strategy Limit per Symbol for 

that underlying. However, that MPID 

would continue to have the ability to 

request complex strategies in other 

symbols—unless or until that MPID 

breaches the Strategy Limit per Symbol 

in a different symbol or—in the 

aggregate—breaches the Complex 

Strategy Limit. Thus, the proposed 

change would 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 

because it would curtail (or remove) the 

latency that has at times resulted from 

the Exchange receiving a significant 

number of requests for new complex 

strategies in the same underlying. 

The Exchange believes that the 

proposed change to expand the limits 

placed on Complex Strategies per MPID 

would promote just and equitable 

principles of trade because it would 

modify existing functionality in a 

manner that would enable the Exchange 

to add granularity to, and better 

calibrate, its risk settings related to the 

number of Complex Strategies in the 

same underlying symbol requested in a 

trading day. 

Finally, the proposed rule change 

would help maintain a fair and orderly 

market because it would enhance an 

existing system protection tool to enable 

the Exchange to prevent any single 

MPID from creating more than a limited 

number of complex strategies in the 

same underlying symbol during the 

trading day. 

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 

Exchange does not believe that the 

proposed rule change would impose any 

burden on intra-market competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act 

because the proposed Strategy Limit per 

Symbol would apply equally to all 

market participants that request new 

complex strategies. As stated herein, the 

proposed rule change would provide the 

Exchange the ability to better calibrate 

risk settings related to the number of 

Complex Strategies per Symbol for an 

MPID per trading day, which in turn 

should benefit all market participants 

because (as described above) it would 

curtail (or remove) the latency that has 

at times resulted from the Exchange 

receiving a significant number of 

requests for new complex strategies in 

the same underlying. 

The Exchange believes that the 

proposed rule change would not impose 

a burden on competing options 

exchanges. The Exchange notes that it 

operates in a highly competitive market 

in which market participants can 

readily favor competing venues. When 

an exchange offers enhanced 

functionality (like the proposed Strategy 

Limit per Symbol) that distinguishes it 

from the competition and participants 

find it useful, it has been the Exchange’s 

experience that competing exchanges 

will move to adopt similar functionality. 

Thus, the Exchange believes that this 

type of competition amongst exchanges 

is beneficial to the entire marketplace as 

it can result in enhanced processes, 

functionality, and technologies. 

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 

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 for 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 14 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.15

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 187 / Thursday, September 28, 2023 / Notices 66921 

16 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78s(b)(3)(A). 

4 17 CFR 240.19b–4(f)(6). 

5Available at www.dtcc.com/∼/media/Files/ 

Downloads/legal/issue-eligibility/eligibility/ 

operational-arrangements.pdf. Each term not 

otherwise defined herein has its respective meaning 

as set forth in the OA and in the Rules, By-Laws 

and Organization Certificate of DTC (the ‘‘Rules’’), 

available at www.dtcc.com/legal/rules-andprocedures.aspx. 

6A warrant generally represents the right of the 

holder to acquire common stock of an issuer at 

some future date at a specified price. Warrants, by 

their terms, have an expiration date, i.e., the date 

after which a holder can no longer exercise its 

rights under the warrant, thereby rendering the 

warrant worthless. 

7A right generally represents an opportunity for 

stockholders to buy new securities issued by a 

corporation in proportion to the number of shares 

they own before the new shares are offered to the 

public. Rights, by their terms, have an expiration 

date, i.e., the date on which the subscription period 

under the rights offering expires, thereby rendering 

the right worthless. 

8Securities Exchange Act Release No. 28642 

(Nov. 21, 1990), 55 FR 49725 (Nov. 30, 1990) (SR– 

DTC–90–11). 

9Currently, warrants/rights are required to be part 

of the FAST program (Fast Automated Securities 

Continued 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NYSEAMER–2023–45 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–2023–45. 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 

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–NYSEAMER–2023–45 and should 

be submitted on or before October 19, 

2023. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–21134 Filed 9–27–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98490; File No. SR–DTC– 

2023–009] 

Self-Regulatory Organizations; The 

Depository Trust Company; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule To Amend the DTC 

Operational Arrangements (Necessary 

for Securities To Become and Remain 

Eligible for DTC Services) 

September 22, 2023. 

Pursuant to section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on 

September 14, 2023, The Depository 

Trust Company (‘‘DTC’’) 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 clearing agency. DTC filed the 

proposed rule change pursuant to 

section 19(b)(3)(A) of the Act 3 and Rule 

19b–4(f)(6) thereunder.4 The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

I. Clearing Agency’s Statement of the 

Terms of Substance of the Proposed 

Rule Change 

The proposed rule change consists of 

amendments to the DTC Operational 

Arrangements (Necessary for Securities 

to Become and Remain Eligible for DTC 

Services) (the ‘‘OA’’) 5 to (i) allow DTC 

to delete the Participant positions and 

dispose of the underlying certificates, if 

any, for a warrant 6 or right 7 that is past 

its expiration date as reflected on DTC 

books and records (‘‘Expiration Date’’), 

provided that DTC did not receive a 

notice of extension of the Expiration 

Date from the Agent or Issuer within the 

applicable timeframe (‘‘Notice Period’’) 

set forth in the OA; and (ii) make 

technical and clarifying changes relating 

to expired warrants/rights, as described 

in greater detail below. 

II. Clearing Agency’s Statement of the 

Purpose of, and Statutory Basis for, the 

Proposed Rule Change 

In its filing with the Commission, the 

clearing agency 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 

clearing agency has prepared 

summaries, set forth in sections A, B, 

and C below, of the most significant 

aspects of such statements. 

(A) Clearing Agency’s Statement of the 

Purpose of, and Statutory Basis for, the 

Proposed Rule Change 

1. Purpose 

On November 21, 1990, DTC filed a 

rule change providing for the deletion 

and disposal of a warrant/right whose 

Expiration Date had passed (‘‘Expired 

Warrant/Right’’).8 The rule change 

provided that DTC be permitted to 

delete and dispose of an Expired 

Warrant/Right after DTC (i) obtains 

written confirmation from the Issuer or 

Agent that the Expired Warrant/Right 

has expired and is null, void, and 

worthless (the ‘‘Confirmation’’), and (ii) 

provides Participants with thirty days’ 

notice of the proposed deletion and 

disposal of the Expired Warrant/Right. 

After thirty days, DTC is permitted to 

delete the positions in the Expired 

Warrant/Right from Participants’ 

accounts and to dispose of the 

underlying certificates. 

Over the years, DTC has encountered 

difficulties in contacting the Issuers or 

Agents of Expired Warrants/Rights and/ 

or obtaining the Confirmation from the 

Issuers or Agents. In addition to the 

administrative burden on DTC to 

follow-up with Issuers and Agents, if 

DTC does not receive the Confirmation 

from the Issuer or Agent of an Expired 

Warrant/Right (i) the DTC books and 

records continue to reflect the expired 

security, and (ii) the underlying 

certificates, if any,9 continue to be 


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