Federal Register / Vol. 83, No. 109 / Wednesday, June 6, 2018 / Notices 26327 

59 15 U.S.C. 78s(b)(3)(A)(iii). 

60 17 CFR 240.19b–4(f)(6). 

61 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. 

62 17 CFR 240.19b–4(f)(6). 

63 17 CFR 240.19b–4(f)(6)(iii). 

64For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 

65 15 U.S.C. 78s(b)(2)(B). 

66 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C 78a. 

3 17 CFR 240.19b–4. 

market share and revenue of the affected 

exchange. 

For the reasons described above, the 

Exchange believes that the proposed 

rule change reflects this competitive 

environment. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 59 and Rule 

19b–4(f)(6) thereunder.60 Because the 

proposed rule change does not: (i) 

Significantly affect the protection of 

investors or the public interest; (ii) 

impose any significant burden on 

competition; and (iii) become operative 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act and Rule 19b–4(f)(6)(iii) 

thereunder.61

A proposed rule change filed under 

Rule 19b–4(f)(6) 62 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),63 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. The 

Exchange has requested that the 

Commission waive the 30-day operative 

delay so that the proposed rule change 

may become operative immediately 

upon filing. The Exchange believes that 

such waiver is consistent with the 

protection of investors and the public 

interest because it would allow the 

Exchange to provide the proposed colocation services to coincide with the 

launch of the Exchange. The Exchange 

also notes that waiver would promote 

transparency and potentially reduce 

confusion among members, the public, 

and the Commission that could result 

from maintaining the former fees and 

credits on the Price List. The 

Commission believes that waiving the 

30-day operative delay is consistent 

with the protection of investors and the 

public interest as it would allow the 

Exchange to offer co-location services 

without undue delay. Accordingly, the 

Commission waives the 30-day 

operative delay and designates the 

proposed rule change operative upon 

filing.64

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) 65 of the Act to 

determine whether the proposed rule 

change should be approved or 

disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

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

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSENAT–2018–07 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–NYSENAT–2018–07. 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 (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–NYSENAT–2018–07 and 

should be submitted on or before June 

27, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.66

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–12111 Filed 6–5–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83357; File No. SR– 

NYSEAMER–2018–24] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Rule 7.37E and 

Rule 7.45E With Respect to NYSE 

National’s Reopening of Trading and 

Reactivating Connection to the 

Securities Information Processors 

May 31, 2018. 

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 May 18, 

2018, NYSE American LLC (the 

‘‘Exchange’’ or ‘‘NYSE American’’) 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 


daltland on DSKBBV9HB2PROD with NOTICES
26328 Federal Register / Vol. 83, No. 109 / Wednesday, June 6, 2018 / Notices 

4 15 U.S.C. 78f(B). 

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

6 15 U.S.C. 78s(b)(3)(A). 

7 17 CFR 240.19b–4(f)(6). As required under Rule 

19b–4(f)(6)(iii), the Exchange provided the 

Commission with written ntoice of its intent to file 

the proposed rule change, along with a brief 

description and the 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. 

8 17 CFR 240.19b–4(f)(6). 

9 17 CFR 240.19b–4(f)(6)(iii). 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of the Substance 

of the Proposed Rule Change 

The Exchange proposes to: (1) Amend 

Rule 7.37E to amend in Exchange rules 

the Exchange’s use of data feeds from 

NYSE National, Inc. (‘‘NYSE National’’) 

for order handling and execution, order 

routing, and regulatory compliance; and 

(2) amend Rule 7.45E to reflect that 

Archipelago Securities LLC (‘‘Arca 

Securities’’) would function as a routing 

broker for the Exchange’s affiliate, NYSE 

National. 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to update and 

amend the table in Rule 7.37E that sets 

forth on a market-by-market basis the 

specific network processor and 

proprietary data feeds that the Exchange 

utilizes for the handling, execution and 

routing of orders, and for performing the 

regulatory compliance checks related to 

each of those functions. NYSE National 

intends to reopen trading and reactivate 

its connections to the securities 

information processors (‘‘SIPs’’). To 

reflect that, the Exchange proposes to 

revise Rule 7.37E to specify which data 

feeds the Exchange would use for NYSE 

National. Rule 7.37E currently provides 

that NYSE National uses the SIP data 

feeds as the primary source and does 

not have a secondary source. The 

Exchange proposes to use the direct data 

feeds for NYSE National and would use 

the SIP data feeds as a secondary source. 

Additionally, the Exchange proposes 

to amend Rule 7.45E to reflect that Arca 

Securities would function as a routing 

broker for the Exchange’s affiliate, NYSE 

National. Specifically, the Exchange 

proposes to amend Rule 7.45E(c)(1) and 

(2) to reference NYSE National as an 

affiliate of the Exchange for the 

purposes of the inbound routing 

function performed by Arca Securities. 

The proposed rule change would 

provide more clarity and transparency 

to all the functions that Arca Securities 

performs on behalf of the Exchange and 

its affiliates, which now includes NYSE 

National. The Exchange is not proposing 

any substantive change to the rule. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),4 in general, and furthers the 

objectives of Section 6(b)(5),5 in 

particular, because it is designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in facilitating 

transactions in securities, to remove 

impediments to, and perfect the 

mechanism of, a free and open market 

and a national market system and, in 

general, to protect investors and the 

public interest. The Exchange believes 

its proposal to update the table in Rule 

7.37E will ensure that the rule correctly 

identifies on a market-by-market basis 

all of the specific network processor and 

proprietary data feeds that the Exchange 

utilizes for the handling, execution and 

routing of orders, and for performing the 

regulatory compliance checks to each of 

those functions. The proposed rule 

change also removes impediments to 

and perfects the mechanism of a free 

and open market and protects investors 

and the public interest because it 

provides additional specificity, clarity 

and transparency. The Exchange 

believes its proposal to amend Rule 

7.45E removes impediments to and 

perfects the mechanism of a free and 

open market and protects investors and 

the public interest because the proposed 

rule change would enhance the clarity 

and transparency in Exchange Rules 

surrounding the inbound routing 

function performed by Arca Securities 

for the Exchange’s affiliate, NYSE 

National. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

proposed change is not designed to 

address any competitive issue but rather 

would provide the public and investors 

with information about which data 

feeds the Exchange uses for execution 

and routing decisions, and provide 

clarity in Exchange rules that Arca 

Securities would perform the inbound 

routing function on behalf on the 

Exchange’s affiliate, NYSE National. 

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 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) of the Act 6 and Rule 19b– 

4(f)(6) thereunder.7

A proposed rule change filed 

pursuant to Rule 19b–4(f)(6) under the 

Act 8 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 9

permits the Commission to designate a 

shorter time if such action is consistent 

with the protection of investors and the 

public interest. The Exchange has asked 

the Commission to waive the 30-day 

operative delay so that the proposed 

rule change may become operative upon 

filing. The Exchange states that waiver 

of the operative delay would be 

consistent with the protection of 

investors and the public interest 

because it will allow the Exchange to 

immediately provide enhanced 


daltland on DSKBBV9HB2PROD with NOTICES
Federal Register / Vol. 83, No. 109 / Wednesday, June 6, 2018 / Notices 26329 

10For 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). 

1117 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

transparency in Exchange rules 

regarding which data feeds the 

Exchange will use for NYSE National 

and clarify in the Exchange’s rules that 

Arca Securities will perform the 

inbound routing function for NYSE 

National. The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest. 

Therefore, the Commission hereby 

waives the operative delay and 

designates the proposal as operative 

upon filing.10

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

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

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSEAMER–2018–24 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–2018–24. 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 (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–NYSEAMER–2018–24, and 

should be submitted on or before June 

27, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–12115 Filed 6–5–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83352; File No. SR– 

NYSEArca–2018–37] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Rule 7.37–E 

and Rule 7.45–E With Respect to NYSE 

National’s Reopening of Trading and 

Reactivating Connection to the 

Securities Information Processors 

May 31, 2018. 

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 May 18, 

2018, NYSE Arca, Inc. (the ‘‘Exchange’’ 

or ‘‘NYSE Arca’’) 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 the Substance 

of the Proposed Rule Change 

The Exchange proposes to: (1) Amend 

Rule 7.37–E to specify in Exchange rules 

the Exchange’s use of data feeds from 

NYSE National, Inc. (‘‘NYSE National’’) 

for order handling and execution, order 

routing, and regulatory compliance; and 

(2) amend Rule 7.45–E to reflect that 

Archipelago Securities LLC (‘‘Arca 

Securities’’) would function as a routing 

broker for the Exchange’s affiliate, NYSE 

National. 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to update and 

amend the table in Rule 7.37–E that sets 

forth on a market-by-market basis the 

specific network processor and 

proprietary data feeds that the Exchange 

utilizes for the handling, execution and 

routing of orders, and for performing the 

regulatory compliance checks related to 

each of those functions. Specifically, the 

table would be amended to include 

NYSE National, which intends to 

reopen trading and reactivate its 

connections to the securities 

information processors (‘‘SIPs’’). To 

reflect that, the Exchange proposes to 

amend Rule 7.37–E to specify which 

data feeds the Exchange would use for 

NYSE National. As proposed, the 

Exchange would use the direct data 

feeds for NYSE National and would use 

the SIP data feeds as a secondary source. 

Additionally, the Exchange proposes 

to amend Rule 7.45–E to reflect that 

Arca Securities would function as a 


daltland on DSKBBV9HB2PROD with NOTICES