14906 Federal Register / Vol. 89, No. 41 / Thursday, February 29, 2024 / Notices 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4Compare proposed Rule 6.91P–O(f)(3)(E) with 

NYSE American Rule 980NYP(f)(3)(E). See also SR– 

NYSEAMER–2024–03 (the ‘‘NYSE American COA/ 

cQCC Filing’’) See Securities Exchange Act Release 

No. 99354 (January 17, 2024), 89 FR 4358 (January 

17 [sic], 2024) (SR–NYSEAMER–2024–03) 

(permitting NYSE American to adopt NYSE 

American Rule 980NYP(f)(3)(E) on an immediately 

effective basis and granting waiver of the 30-day 

operative delay).The Exchange notes that NYSE 

American Rule 980NYP is substantively identical to 

Rule 6.91P–O, except that the latter rule includes 

the rule update proposed herein. 

5See generally Rule 6.91P–O (Electronic Complex 

Order Trading). Unless otherwise specified, all 

capitalized terms used herein have the same 

meaning as is set forth in Rule 6.91P–O. 

6See Rules 6.91P–O(f) (Execution of ECOs During 

a COA), (f)(1) (Initiation of a COA), (f)(2) (Pricing 

of a COA). See also Rule 6.91P–O(a)(3)(A) (defining 

a ‘‘COA Order’’ as an ECO designated as eligible to 

initiate a COA). 

7See Rules 6.91P–O(a)(3)(B) (defining, and 

detailing the information included in, each RFR); 

(a)(3)(C) (defining each ‘‘RFR Response’’ as, among 

other things, ‘‘any ECO’’ received during the 

Response Time Interval that is in the same complex 

strategy as, and is marketable against, the COA 

Order); and (a)(3)(D) (defining the Response Time 

Interval as the period during which RFR Responses 

may be entered, which period ‘‘will not be less than 

100 milliseconds and will not exceed one (1) 

second,’’ as determined by the Exchange and 

announced by Trader Update). See Rule 6.91P– 

O(b)(2)(C) (defining a ‘‘COA GTX Order,’’ including 

that such order is submitted in response to an RFR 

announcing a COA and will trade with the COA 

Order to the extent possible and then cancel). 

8See Rule 6.91P–O(f)(3)(A)–(D) (setting forth the 

circumstances under which a COA will conclude 

before the end of the Response Time Interval). 

9The Exchange notes that there are certain 

limitations to how an ECO, including a COA Order 

post-COA, may interact with the leg markets. See, 

e.g., Rule 6.91P–O(e)(1)(A) (providing, in relevant 

part, that the leg markets will trade first with an 

ECO, but only if the legs can execute with the ECO 

‘‘in full or in a permissible ratio,’’ and, once the leg 

markets trade with the ECO to the extent possible, 

such ECO will trade with same-priced ECOs resting 

in the Book). See also Rule 6.91P–O(e)(1)(C)–(D) 

(describing ECOs that are not permitted to trade 

with the leg markets). 

10See Rule 6.91P–O(f)(4)(A)–(C) (Allocation of 

COA Orders) (providing, in relevant part, that when 

a COA ends early or at the end of the RTI, a COA 

Order trades first with price-improving interest, 

next ‘‘with any contra-side interest, including the 

leg markets, unless the COA is designated as a 

Complex Only Order’’ and any remaining portion 

is ranked in the Consolidated Book and the COA 

Order is processed as an ECO pursuant to Rule 

6.91P–O(e) (Execution of ECOs During Core Trading 

Hours). See Rule 1.1 (defining Consolidated Book 

as ‘‘the Exchange’s electronic book of orders and 

quotes.’’). 

• Follow up to the 2nd Report of the 

MPS AC Facilities Subcommittee 

• Generative AI and the Proposal 

Review Process 

• Preparation for Discussion with NSF 

Director’s Chief of Staff 

• Closing Remarks and Adjourn Day 1 

Wednesday, March 27, 2024 

• Welcome and Overview of Agenda 

• Science Highlight 

• Digital Twins 

• Strengthening the Links between MPS 

and EDU Directorates 

• NSF Branding Policy 

• Preparation for Discussion with NSF 

Director’s Chief of Staff 

• Meeting and Discussion with NSF 

Director’s Chief of Staff 

• Closing Remarks and Adjourn Day 2 

Note: A final/updated agenda will be 

available on the MPS AC website located at 

http://www.nsf.gov/mps/advisory.jsp. 

Dated: February 23, 2024. 

Crystal Robinson, 

Committee Management Officer. 

[FR Doc. 2024–04158 Filed 2–28–24; 8:45 am] 

BILLING CODE 7555–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99597; File No. SR– 

NYSEARCA–2024–17] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Modify Rule 6.91P–O 

February 23, 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 February 

14, 2024, NYSE Arca, Inc. (‘‘NYSE 

Arca’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the self-regulatory organization. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to modify 

Rule 6.91P–O (Electronic Complex 

Order Trading) to specify additional 

trading interest that would result in the 

early end of a Complex Order Auction 

(‘‘COA’’). 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 modify 

Rule 6.91P–O (Electronic Complex 

Order Trading) to specify additional 

trading interest that would result in the 

early end of a Complex Order Auction 

(‘‘COA’’). This proposed amendment to 

the Exchange’s complex order trading 

rule would align with the recently 

modified complex order trading rule of 

the Exchange’s affiliated options 

exchange, NYSE American LLC (‘‘NYSE 

American’’).4

Rule 6.91P–O reflects how Electronic 

Complex Orders (‘‘ECOs’’) will trade on 

the Exchange 5 and paragraph (f) to this 

rule describes the handling of ECOs 

submitted to the Complex Order 

Auction (COA) process.6 When a COA 

Order initiates a COA, the Exchange 

disseminates a Request for Response 

(‘‘RFR’’) to solicit potentially priceimproving ECO interest—which 

solicited interest includes interest 

designated to respond to the COA (i.e., 

COA GTX Orders) and unrelated priceimproving ECO interest (resting and 

newly arriving) that arrives during the 

Response Time Interval (each an ‘‘RFR 

Response’’) (collectively, the ‘‘auction 

interest’’).7 The COA lasts for the 

duration of the Response Time Interval 

unless, during the COA, the Exchange 

receives certain options trading interest 

that requires the COA to conclude 

early.8 When the COA concludes, the 

COA Order executes first with priceimproving ECO interest, next with any 

contra-side interest, including the leg 

markets (if permissible),9 and any 

remaining balance (that is not cancelled) 

is ranked in the Consolidated Book (the 

‘‘Consolidated Book’’ or ‘‘Book’’).10

Once the COA Order executes to the 

extent possible—whether with the bestpriced Complex Orders or the bestpriced interest in the leg markets—and 

is placed in the Book, the Exchange will 

update its complex order book and, if 

applicable, the Exchange BBO (as a 

result of any executions of the COA 

Order with the leg markets). 

The Exchange proposes to modify 

Rule 6.91P–O(f)(3) to add new 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 89, No. 41 / Thursday, February 29, 2024 / Notices 14907 

11See proposed Rule 6.91P–O(f)(3)(E). See Rules 

6.62P–O(g)(1)(A) (providing that a ‘‘Complex QCC 

Order’’ is a QCC with more than one option leg and 

specifying that ‘‘each option leg must have at least 

1,000 contracts’’) and (g)(1)(D) (setting forth the 

pricing requirements that a Complex QCC Order 

must meet, or else it will be rejected). The Exchange 

notes that Rule 6.62P–O(g)(1), regarding Complex 

QCC Orders, is identical to NYSE American Rules 

900.3NYP(g)(1). 

12See Rule 6.62P–O(g)(1)(A) (providing that a 

QCC Order, including a Complex QCC Order, ‘‘that 

is not rejected per paragraph (g)(1)(C) [Execution of 

QCC Orders] or (D) [Execution of Complex QCC 

Orders] below will immediately trade in full at its 

price’’). As noted above, Rule 6.62P–O(g)(1), 

regarding Complex QCC Orders, is identical to 

NYSE American Rules 900.3NYP(g)(1). 

13See Rule 6.62P–O(g)(1)(D)(i)–(iii). 

14See Rule 6.91P–O(g)(1)(D)(i). 

15The Exchange notes that, to date, there have 

been zero instances of a Complex QCC Order 

arriving during (and resulting in the early end) of 

a COA in the same complex strategy, pursuant to 

Rule 6.91P–O, which was implemented in July 2022 

coincident with the Exchange’s migration to its 

Pillar trading platform. 

16See supra note 10 (describing that any 

remaining portion of a COA Order following the 

COA will be placed on the Consolidated Book and 

will be processed as an ECO). 

17See Cboe, US Options Complex Book Process, 

Section 10, Complex Qualified Contingent Cross 

(Complex QCC), available here: https://

cdn.cboe.com/resources/membership/US-OptionsComplex-Book-Process.pdf (providing that, on 

Cboe, ‘‘Complex QCCs will not be restricted by 

other auction types going on at the same time in the 

Complex or Simple Book’’). The Exchange was 

unable to find a codification in Cboe’s rules of this 

technical specification (i.e., that Complex QCC 

Orders are executed without regard for any ongoing 

auctions). The Exchange notes that the complex 

auction process described in Cboe Rule 5.33(d) is 

substantially similar to the Exchange’s COA 

process. Compare Rule 6.91P–O (f) with Cboe Rule 

5.33(d)(3) (describing Complex Order Auction 

process). 

18See MIAX Rule 516(h)(4) (describing a 

Complex QCC Order or ‘‘cQCC Order’’ and 

providing that such order will be rejected ‘‘if, at the 

time of receipt of the cQCC Order: (i) the strategy 

is subject to . . . a Complex Auction pursuant to 

Rule 518(d)’’). The Exchange notes that the complex 

auction process described in MIAX Rule 518(d) is 

substantially similar to the Exchange’s COA 

process. 

19See supra note 4, NYSE American COA/cQCC 

Filing (setting forth the same arguments as set forth 

herein in support of the identical approach to end 

early a COA in progress upon receipt of a Complex 

QCC in the same strategy). See also NYSE American 

Rule 980NYP(f)(3)(E). 

20 15 U.S.C. 78f(b). 

21 15 U.S.C. 78f(b)(5). 

paragraph (E), which would provide 

that a COA in progress will end early 

any time there is a Complex Qualified 

Contingent Cross (‘‘QCC’’) Order 

submitted in the same complex strategy 

as the COA Order.11 By its terms, a 

Complex QCC Order ‘‘that is not 

rejected’’ by the Exchange, ‘‘will 

immediately trade in full at its price.’’ 12

To avoid rejection, a Complex QCC 

Order must satisfy certain price 

validations, including that each option 

leg must be priced at or between the 

NBBO and may not be priced worse 

than the Exchange BBO; and, that the 

transaction price must be equal to or 

better than the best-priced Complex 

Orders, unless the best-priced Complex 

Orders contains displayed Customer 

interest, in which case the transaction 

price must improve such interest.13 In 

addition, each component leg of the 

Complex QCC Order must trade at a 

price that is better than displayed 

Customer interest on the Consolidated 

Book.14

As noted above, until a COA 

concludes, the Book is not updated to 

reflect any COA Order executions (with 

price-improving auction interest or with 

resting ECO or leg market interest) or 

any balance of the COA Order ranking 

in the Book. Thus, to allow the laterarriving Complex QCC Order to be 

evaluated based on the most up-to-date 

Book, the Exchange proposes to end a 

COA upon the arrival of a Complex QCC 

Order in the same complex strategy. 

This proposed early termination would 

allow the Exchange to incorporate 

executions from the COA, or any 

remaining balance of the COA Order, to 

conduct the requisite price validations 

per Rule 6.62P–O(g)(1)(D) for the 

Complex QCC Order (i.e., based on the 

NBBO, Exchange BBO, and best-priced 

Complex Orders on the Exchange 

following the COA Order executions 

and ranking).15

The proposed rule change would be 

consistent with current Rule 6.91P– 

O(f)(3)(A)–(D), which describes four 

circumstances that cause the early end 

of a COA to ensure that later-arriving 

interest does not trade ahead of a COA 

Order and to ensure that the Book is 

updated to reflect executions resulting 

from the COA. The Exchange believes 

that the proposed rule change achieves 

this same objective. As with the existing 

early end scenarios, the proposed early 

end of a COA does not prevent the COA 

Order from trading with any interest, 

including price-improving interest, that 

arrived prior to the early termination 

(i.e., because of a Complex QCC Order 

in the same complex strategy as the 

COA). In addition, any portion of the 

COA Order that does not trade in the 

COA is placed on the Consolidated 

Book where it continues to have 

opportunities to trade.16 Finally, the 

Exchange notes that proposed Rule 

6.91P–O(f)(3)(E) is identical to 

American Rule 980NYP(f)(3)(E). 

In addition to NYSE American, the 

Exchange notes that at least two other 

(non-affiliated) options exchanges offer 

both Complex QCC Orders and COA 

functionality and each has opted for a 

different way to address the race 

condition posed by these two features. 

For example, per the technical 

specifications for complex orders 

executed on Cboe Exchange Inc. 

(‘‘Cboe’’), a Complex QCC Order is 

‘‘immediately executed or canceled on 

entry’’ and is not ‘‘restricted by other 

auction types going on at the same 

time’’ and, as such, the price validations 

on the later-arriving Complex QCC are 

(apparently) done without consideration 

of the COA process and its potential 

impact on Cboe’s Complex Order 

Book.17 Alternatively, on MIAX Options 

Exchange (‘‘MIAX’’), a later-arriving 

Complex QCC Order is rejected ‘‘if, at 

the time of receipt’’ the complex 

strategy is subject to, among other 

things, ‘‘a Complex Auction pursuant to 

Rule518(d).’’ 18

The Exchange believes that its 

proposal to codify by rule its distinct 

approach to resolving the same issue 

faced by Cboe and MIAX would provide 

the best protection to its market 

participants and would mirror the 

approach taken by NYSE American.19

Specifically, by ending a COA upon the 

arrival of a Complex QCC Order in the 

same complex strategy, the Exchange 

ensures that the COA Order executes to 

the extent possible and that the 

Exchange relies on the most-up-to-date 

Book (following executions in the COA) 

to validate the price of the Complex 

QCC. This proposed approach prevents 

the Exchange from ignoring complex 

orders being auctioned when 

conducting price validations for laterarriving Complex QCC Orders or from 

rejecting potentially valid Complex QCC 

Orders that arrive during a COA. As 

such, the Exchange believes that its 

proposal would help preserve—and 

maintain investor’s confidence in—the 

integrity of the Exchange’s local market. 

As such, the Exchange believes that the 

proposed change would benefit 

investors and would not place an undue 

burden on competition because 

investors are free to direct their complex 

order flow to other options exchanges, 

including Cboe or MIAX. Likewise, once 

this proposed rule change is effective, 

other options exchanges, including Cboe 

and MIAX, are free to copy the order 

handling proposed herein. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),20 in general, and furthers the 

objectives of Section 6(b)(5),21 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 


khammond on DSKJM1Z7X2PROD with NOTICES
14908 Federal Register / Vol. 89, No. 41 / Thursday, February 29, 2024 / Notices 

22See supra note 15 (noting that, to date, there 

have been zero instances of a Complex QCC Order 

arriving during (and resulting in the early end) of 

a COA in the same complex strategy, pursuant to 

Rule 6.91P–O). 

23See NYSE American Rule 980NYP(f)(3)(E). 

24As noted herein, any portion of the COA Order 

that does not trade in the COA is placed in the 

Consolidated Book where it continues to have 

opportunities to trade. See, e.g., supra note 10. 

25 15 U.S.C. 78s(b)(3)(A)(iii). 

26 17 CFR 240.19b–4(f)(6). 

27 Id. In addition, Rule 19b–4(f)(6)(iii) 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. 

28 17 CFR 240.19b–4(f)(6). 

29 17 CFR 240.19b–4(f)(6)(iii). 

30 15 U.S.C. 78s(b)(2)(B). 

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 that the 

proposed amendment to Rule 6.91P– 

O(f)(3) regarding the additional 

circumstance that would cause a COA to 

end early would promote just and 

equitable principles of trade because it 

would ensure that the COA Order is 

executed to the extent possible and, if 

applicable, is ranked in the 

Consolidated Book before the Exchange 

evaluates the later-arriving Complex 

QCC Order. As noted above, until the 

COA concludes, the Book is not updated 

to reflect any COA Order executions 

(with price-improving auction interest 

or with resting ECO or leg market 

interest) or any balance of the COA 

Order ranking in the Book. This 

proposed early termination would then 

allow the Exchange to incorporate 

executions from the COA, or any 

remaining balance of the COA Order, to 

conduct the requisite price validations 

for the Complex QCC Order (per Rule 

6.62P–O(g)(1)(D)) based on the most upto-date Book (i.e., based on the NBBO, 

Exchange BBO, and best-priced 

Complex Orders on the Exchange 

following the COA).22 The proposed 

change is not new or novel as it is 

identical to the complex order trading 

rule on NYSE American to end early a 

COA in progress upon receipt of a 

Complex QCC in the same complex 

strategy.23

As noted herein, current Rule 6.91P– 

O(f)(A)-(D) describes four circumstances 

under which a COA must end early to 

ensure that later-arriving interest does 

not trade ahead of a COA Order and to 

ensure that the Book is updated to 

reflect executions resulting from the 

COA. The Exchange believes that the 

proposed rule change achieves this 

same objective. As with the existing 

early end scenarios, the proposed early 

end of a COA does not prevent the COA 

Order from trading with any interest, 

including price-improving interest, that 

arrived prior to the early termination 

(i.e., because of a Complex QCC Order 

in the same complex strategy as the 

COA). As such, the proposed change 

would benefit investors because it 

would ensure the timely executions of 

COA Orders (at potentially improved 

prices) and would also allow a timely 

execution of the Complex QCC Orders 

in the same complex strategy as the 

COA Order. In addition, the proposal 

would ensure that the prices used to 

validate a Complex QCC Order would 

incorporate executions from the COA, or 

any remaining balance of the COA 

Order.24

At least two other options exchanges 

have taken different approaches to 

address how to handle the arrival of a 

Complex QCC Order while a Complex 

Order Auction is in progress. As noted 

herein, the Exchange believes that its 

proposed approach would provide the 

best protection to investors because 

ending a COA upon receipt of a 

Complex QCC Order would ensure that 

the COA Order executes to the extent 

possible and that the Exchange relies on 

the most-up-to-date Book (following 

executions in the COA) to validate the 

price of the Complex QCC Order. Thus, 

the Exchange believes the proposed rule 

change would promote just and 

equitable principles of trade because it 

would help preserve—and maintain 

investor’s confidence in—the integrity 

of the Exchange’s local market. 

Finally, the Exchange believes that 

modifying the rule as proposed would 

add clarity and transparency to Rule 

6.91P–O regarding the handling of COA 

Orders. 

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 intra-market competition 

that is not necessary or appropriate in 

furtherance of the purposes of the Act. 

The proposed rule change would apply 

in the same manner to all similarlysituated market participants that opt to 

utilize the COA process, the use of 

which is voluntary and, as such, market 

participants are not required to avail 

themselves of this process. 

The Exchange does not believe that its 

proposed rule change will impose any 

burden on inter-market competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act 

because the proposed change is 

designed to ensure that both a COA 

Order and a Complex QCC Order 

receive timely executions based on 

current market conditions, which 

change is identical to NYSE American 

Rule 980NYP(f)(3)(E). To the extent that 

other options exchanges, like Cboe or 

MIAX, offer complex order auctions and 

Complex QCC Orders, such exchanges 

are free to adopt (if they have not 

already done so) the early termination 

provision proposed herein. 

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 25 and Rule 

19b–4(f)(6) thereunder.26 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.27

A proposed rule change filed under 

Rule 19b–4(f)(6) 28 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),29 the 

Commission may designate a shorter 

time if such action is consistent with the 

protection of investors and the public 

interest. 

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) 30 of the Act to 

determine whether the proposed rule 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 89, No. 41 / Thursday, February 29, 2024 / Notices 14909 

31 17 CFR 200.30–3(a)(12), (59). 

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

2 17 CFR 240.19b–4. 

3See Notice of Filing infra note 4, at 89 FR 5062. 

4Securities Exchange Act Release No. 99393 (Jan. 

19, 2024), 89 FR 5062 (Jan. 25, 2024) (File No. SR– 

OCC–2024–001) (‘‘Notice of Filing’’). 

5Comments on the Proposed Rule Change are 

available at https://www.sec.gov/comments/sr-occ2024-001/srocc2024001.htm. 

6 15 U.S.C. 78s(b)(2)(i). 

7 15 U.S.C. 78s(b)(2)(ii). 

8 Id. 

9 Id. 

10 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. 

change should be approved or 

disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

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

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NYSEARCA–2024–17 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–NYSEARCA–2024–17. 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–NYSEARCA–2024–17 and should be 

submitted on or before March 21, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.31

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–04171 Filed 2–28–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99594; File No. SR–OCC– 

2024–001] 

Self-Regulatory Organizations; The 

Options Clearing Corporation; Notice 

of Designation of Longer Period for 

Commission Action on Proposed Rule 

Change Concerning Its Process for 

Adjusting Certain Parameters in Its 

Proprietary System for Calculating 

Margin Requirements During Periods 

When the Products It Clears and the 

Markets It Serves Experience High 

Volatility 

February 23, 2024. 

On January 10, 2024, the Options 

Clearing Corporation (‘‘OCC’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change SR–OCC–2024– 

001 (‘‘Proposed Rule Change’’) pursuant 

to Section 19(b) of the Securities 

Exchange Act of 1934 (‘‘Exchange 

Act’’) 1 and Rule 19b–4 2 thereunder to 

codify OCC’s process for adjusting 

certain parameters in its proprietary 

system for calculating margin 

requirements during periods when the 

products OCC clears and the markets it 

serves experience high volatility.3 The 

Proposed Rule Change was published 

for public comment in the Federal 

Register on January 25, 2024.4 The 

Commission has received comments 

regarding the Proposed Rule Change.5

Section 19(b)(2)(i) of the Exchange 

Act 6 provides that, within 45 days of 

the publication of notice of the filing of 

a proposed rule change, 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 unless 

the Commission extends the period 

within which it must act as provided in 

Section 19(b)(2)(ii) of the Exchange 

Act.7 Section 19(b)(2)(ii) of the 

Exchange Act allows the Commission to 

designate a longer period for review (up 

to 90 days from the publication of notice 

of the filing of a proposed rule change) 

if the Commission finds such longer 

period to be appropriate and publishes 

its reasons for so finding, or as to which 

the self-regulatory organization 

consents.8

The 45th day after publication of the 

Notice of Filing is March 10, 2024. In 

order to provide the Commission with 

sufficient time to consider the Proposed 

Rule Change, the Commission finds that 

it is appropriate to designate a longer 

period within which to take action on 

the Proposed Rule Change and therefore 

is extending this 45-day time period. 

Accordingly, the Commission, 

pursuant to Section 19(b)(2) of the 

Exchange Act,9 designates April 24, 

2024 as the date by which the 

Commission shall either approve, 

disapprove, or institute proceedings to 

determine whether to disapprove 

proposed rule change SR–OCC–2024– 

001. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–04170 Filed 2–28–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99592; File No. SR–NYSE– 

2024–07] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend Its 

Price List 

February 23, 2024. 

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 February 

12, 2024, New York Stock Exchange 

LLC (‘‘NYSE’’ or the ‘‘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 self-regulatory 


khammond on DSKJM1Z7X2PROD with NOTICES