[Federal Register Volume 89, Number 218 (Tuesday, November 12, 2024)]
[Notices]
[Pages 89061-89063]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-26098]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-101516; File No. SR-NYSE-2024-68]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Describe an Enhancement to How NYSE Would Make Certain Information It 
Receives From Its Listed Companies Publicly Available

November 5, 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 October 28, 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 
organization. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to describe how it intends to make certain 
information the Exchange receives from its listed companies publicly 
available. 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,

[[Page 89062]]

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
    Pursuant to the Exchange's role as a listing venue, NYSE receives 
certain information from listed companies. This information may include 
action items such as stock splits, new listings, spin-offs, suspensions 
and delistings, name or trading symbol changes, and information about 
mergers and acquisitions, among other data. NYSE currently publishes 
this information on its website and makes it publicly available to 
investors and market participants.\4\ NYSE also receives from listed 
companies certain information related to dividends which NYSE also 
currently publishes on its website and makes publicly available to 
investors and market participants.\5\ Both data sets are currently 
published on the NYSE's website prior to, or at approximately the same 
time as, that information is sent to NYSE market data systems, which 
ultimately sends the information to the NYSE's market data subscribers 
throughout the trading day.\6\
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    \4\ See https://www.nyse.com/corporate-actions.
    \5\ See https://www.nyse.com/ex-date-dividends.
    \6\ Market data subscribers receive corporate action and 
dividend information in several reports made available by New York 
Stock Exchange, LLC. See https://www.nyse.com/market-data/corporate-actions/corporate-actions-for-nyse-group-listings.
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    The purpose of this proposed rule change is to describe an 
enhancement to how NYSE would publicly disseminate information received 
by the Exchange in its role as a listing venue. More specifically, in 
addition to the two places the NYSE currently publishes the information 
described above, NYSE proposes to contemporaneously publish a file that 
contains information received by the Exchange in its role as a listing 
venue and any new information it may receive in the future in its role 
as a listing venue in another format on a separate portion of its 
website.\7\ The proposed new file would be available to all market 
participants and would serve as the sole source of this information for 
NYSE market data systems. The proposed change would ensure that NYSE 
market data systems would only be able to access information NYSE 
receives in its role as a listing venue through publicly-available 
sources at the same time as, or later than, other market participants. 
The information described above will be made available on the 
Exchange's public website for free to any party, for any purpose 
(including redistribution).
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    \7\ The proposed file would be posted on the NYSE website at 
www.ftp.nyse.com.
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    Because of the technology changes associated with this proposed 
rule change, the Exchange will announce the implementation date by 
Trader Update, which, subject to effectiveness of this proposed rule 
change, will be no later than in the fourth quarter of 2024.
2. Statutory Basis
    The basis under the Act for this proposed rule change is the 
requirement under Section 6(b)(5) \8\ that an exchange have rules that 
are designed to prevent fraudulent and manipulative acts and practices, 
to promote just and equitable principles of trade, to remove 
impediments to, and perfect the mechanism of a free and open market 
and, in general, to protect investors and the public interest.
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    \8\ 15 U.S.C. 78f(b)(5).
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    NYSE believes that the proposed rule change is designed to prevent 
fraudulent and manipulative acts and practices, and is designed to 
promote just and equitable principles of trade and to protect investors 
and the public interest. The information provided by NYSE on its public 
website is disseminated by NYSE in its capacity as a provider of 
financial data for the benefit of investors and market participants, 
not in its capacity as an exchange. With this proposal, NYSE market 
data systems would not have unique access to any information, including 
information provided to the Exchange in its role as a listing venue and 
any new information the Exchange may receive in the future in its role 
as a listing venue, and therefore NYSE would not have any competitive 
advantage relative to any market participant with respect to the 
gathering and dissemination of such information. The information 
described above will be made available on the Exchange's public website 
for free to any party, for any purpose (including redistribution). 
Consequently, the publication of information the Exchange receives from 
listed companies in its role as a listing venue, together with the 
information published by listed companies that is generally available 
in the public domain, including on the Commission's website and other 
sources, would enable any market participant to contemporaneously 
assemble its own set of market data products containing the same 
information.

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 purpose of the Act. NYSE believes the proposal 
will benefit investors and the marketplace because information the 
Exchange receives from listed companies in its role as a listing venue 
that NYSE provides to its subscribers, would be exclusively sourced 
from publicly available files. Because the information would be made 
publicly available on its website, and the NYSE market data systems 
would be a consumer of these publicly available files, NYSE would have 
no material advantage in the gathering and processing of the 
information relative to any other market participant that chooses to 
gather and process the same information.

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 prior to 
30 days from the date on which it was filed, or such shorter time as 
the Commission may designate, the proposed rule change has become 
effective pursuant to Section 19(b)(3)(A) of the Act \9\ and Rule 19b-
4(f)(6) thereunder.\10\
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    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file the proposed rule change, along 
with a brief description and text of the proposed rule change, at 
least five business days prior to the date of filing of the proposed 
rule change, or such shorter time as designated by the Commission. 
The Exchange has satisfied this requirement.
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    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.

[[Page 89063]]

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

    <bullet> Use the Commission's internet comment form (https://www.sec.gov/rules/sro.shtml); or
    <bullet> Send an email to <a href="/cdn-cgi/l/email-protection#99ebecf5fcb4faf6f4f4fcf7edead9eafcfab7fef6ef"><span class="__cf_email__" data-cfemail="740601181159171b1919111a0007340711175a131b02">[email protected]</span></a>. Please include 
file number SR-NYSE-2024-68 on the subject line.

Paper Comments

    <bullet> 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-2024-68. 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-2024-68 and should be 
submitted on or before December 3, 2024.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-26098 Filed 11-8-24; 8:45 am]
BILLING CODE P


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