91862 Federal Register / Vol. 89, No. 224 / Wednesday, November 20, 2024 / Notices 

76 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. 

4The current text of Rule 7.13 was adopted in 

2019 to harmonize the Exchange’s rules with those 

of its affiliates NYSE American LLC, NYSE Arca, 

Inc., and NYSE National, Inc. See Securities and 

Exchange Act Release No. 85716 (April 25, 2019), 

84 FR 18623 (May 1, 2019) (SR–NYSECHX–2019– 

07) (Notice of Filing and Immediate Effectiveness of 

Proposed Rule Change Regarding New Rules on 

Hours of Business, Holidays and Trading Halts and 

Suspensions, and Amendment of Article 20, Rule 

1). 

5The difference is that the NYSE rule uses 

‘‘trading on the Exchange’’ instead of ‘‘traded on the 

Exchange.’’ See Securities and Exchange Act 

Release No. 101477 (October 30, 2024), 89 FR 87917 

(November 5, 2024) (SR–NYSE–2024–58) (Order 

Approving a Proposed Rule Change to Amend 

NYSE Rule 7.13). 

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– 

NASDAQ–2024–065 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–NASDAQ–2024–065. 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–NASDAQ–2024–065 and should be 

submitted on or before December 11, 

2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.76

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–27019 Filed 11–19–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101629; File No. SR– 

NYSECHX–2024–34] 

Self-Regulatory Organizations; NYSE 

Chicago, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend NYSE Chicago 

Rule 7.13 To Remove References to 

the Chair of the Board 

November 14, 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 

November 8, 2024, the NYSE Chicago, 

Inc. (‘‘NYSE Chicago’’ 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 amend 

NYSE Chicago Rule 7.13 to remove 

references to the Chair of the Board. The 

proposed rule change is available on the 

Exchange’s website at www.nyse.com, at 

the principal office of the Exchange, and 

at the Commission’s Public Reference 

Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

self-regulatory organization included 

statements concerning the purpose of, 

and basis for, the proposed rule change 

and discussed any comments it received 

on the proposed rule change. The text 

of those statements may be examined at 

the places specified in Item IV below. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend 

NYSE Chicago Rule 7.13 (Trading 

Suspensions) to remove references to 

the Chair of the Board of Directors of the 

Exchange (‘‘Board’’). 

Under current Rule 7.13,4 the Chair of 

the Board or the chief executive officer 

of the Exchange (the ‘‘CEO’’), or the 

officer designee of the Chair or the CEO, 

has the power to suspend trading on any 

and all securities traded on the 

Exchange whenever in his or her 

opinion such suspension would be in 

the public interest. No such action shall 

continue longer than two days or as 

soon thereafter as a quorum of Directors 

can be assembled, unless the Board 

approves the continuation of such 

suspension. 

The Exchange believes that it Is 

advisable to remove the references to 

the Chair in Rule 7.13 because the Chair 

has not acted under Rule 7.13 since the 

rule was adopted and the Exchange does 

not anticipate that an independent or 

non-employee Chair will have sufficient 

involvement in the day-to-day 

operations of the Exchange to act under 

the Rule. 

Moreover, the proposed changes to 

Rule 7.13 would make it substantially 

similar to the rule text governing 

Trading Suspensions currently in place 

on the Exchange’s affiliate the New York 

Stock Exchange LLC (‘‘NYSE’’) in NYSE 

Rule 7.13.5 The proposed changes to 

Rule 7.13 therefore would harmonize 

the Exchange’s rules with those of its 

affiliate NYSE and provide for 

consistent authority to suspend trading 

across the Exchange and the NYSE. 

To effectuate the change, the first 

sentence of the Rule would be amended 

as follows (proposed deletions 

bracketed): 

The [Chair of the Board or the] CEO, or the 

officer designee of [the Chair or] the CEO, 

shall have the power to suspend trading in 

any and all securities traded on the Exchange 

whenever in his or her opinion such 

suspension would be in the public interest. 

The requirement that no such action 

continue longer than two days or as 

soon thereafter as a quorum of Directors 

can be assembled, unless the Board 


khammond on DSK9W7S144PROD with NOTICES
Federal Register / Vol. 89, No. 224 / Wednesday, November 20, 2024 / Notices 91863 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(1). 

8 15 U.S.C. 78f(b)(5). 

9 15 U.S.C. 78f(b)(7). 

10 15 U.S.C. 78f(d)(2). 

11 15 U.S.C. 78f(b)(1). 

12 15 U.S.C. 78f(b)(5). 

13 15 U.S.C. 78f(b)(7). 

14 15 U.S.C. 78f(d)(2). 

15 15 U.S.C. 78f(b)(8). 

16 15 U.S.C. 78s(b)(3)(A). 

17 17 CFR 240.19b–4(f)(6). In addition, Rule19b– 

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. 

approves the continuation of such 

suspension, would remain. No other 

changes to Rule 7.13 are proposed. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,6 in general, and 

furthers the objectives of Section 

6(b)(1) 7 in particular, in that it enables 

the Exchange to be so organized as to 

have the capacity to be able to carry out 

the purposes of the Act and to comply, 

and to enforce compliance by its 

exchange members and persons 

associated with its exchange members, 

with the provisions of the Act, the rules 

and regulations thereunder, and the 

rules of the Exchange. The Exchange 

also believes that the proposed rule 

change is consistent with Section 6(b)(5) 

of the Act,8 in that it is designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in facilitating 

transactions in securities, to remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system and, in 

general, to protect investors and the 

public interest. In addition, the 

Exchange believes that the proposed 

rule change is designed to provide fair 

procedures for the denial of 

membership to any person seeking 

Exchange membership, the barring of 

any person from becoming associated 

with a member, and the prohibition or 

limitation by the Exchange of any 

person with respect to access to services 

offered by the Exchange or a member 

thereof, consistent with the objectives of 

Section 6(b)(7) 9 and Section 6(d)(2) 10 of 

the Act. 

The proposed amendment would 

enable the Exchange to continue to be 

so organized as to have the capacity to 

carry out the purposes of the Act, 

thereby furthering the objectives of 

Section 6(b)(1) 11 of the Act. Amending 

Rule 7.13 to remove the references to 

the Chair would contribute to the 

orderly operation of the Exchange, as it 

would make Rule 7.13 more accurately 

reflect current practice, as the Chair has 

not acted under Rule 7.13 since the rule 

was adopted. It would also reflect the 

fact that the Exchange does not 

anticipate that an independent or nonemployee Chair will have sufficient 

involvement in the day-to-day 

operations of the Exchange to act under 

the Rule. At the same time, the Chair 

would continue to have an oversight 

role, since the requirement would 

remain that no suspension of trading 

continue longer than two days or as 

soon thereafter as a quorum of Directors 

can be assembled, unless the Board 

approves the continuation of such 

suspension. Given that, the Board— 

including the Chair—would continue to 

oversee the length of time any 

suspension of trading made under the 

Rule would be in effect. 

Because amended Rule 7.13 would 

more accurately reflect current practice 

while still giving the Chair an oversight 

role, the Exchange believes that the 

proposed change would be beneficial to 

both investors and the public interest, 

thereby promoting the maintenance of a 

fair and orderly market and the 

protection of investors and the public 

interest consistent with Section 6(b)(5) 

of the Act.12 Moreover, the Exchange 

believes that 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, protect investors 

and the public interest because 

substantially similar authority to 

suspend trading already exists on the 

Exchange’s affiliate NYSE, and therefore 

is not novel. 

For the same reasons, the Exchange 

believes that the proposed changes 

would continue to provide fair 

procedures for the prohibition or 

limitation by the Exchange of any 

person with respect to access to services 

offered by the Exchange consistent with 

the objectives of Section 6(b)(7) 13 and 

Section 6(d)(2) 14 of the Act. 

For these reasons, the Exchange 

believes that the proposal is consistent 

with the Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange believes that the 

proposal will not impose any burden on 

competition that is not necessary or 

appropriate in furtherance of the 

purposes of Section 6(b)(8) of the Act.15

The proposed rule change is not 

intended to address competitive issues 

but rather is concerned solely with 

amending Rule 7.13 so that it more 

accurately reflects current practice and 

to make it substantially similar to NYSE 

Rule 7.13. 

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 16 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.17

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 will institute proceedings 

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 (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NYSECHX–2024–34 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. 


khammond on DSK9W7S144PROD with NOTICES
91864 Federal Register / Vol. 89, No. 224 / Wednesday, November 20, 2024 / Notices 

18 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. 

4The current text of Rule 7.13E was adopted in 

2017 to harmonize the Exchange’s rules with those 

of its affiliate NYSE Arca, Inc. See Securities and 

Exchange Act Release No. 80590 (May 4, 2017), 82 

FR 21843 (May 10, 2017) (SR–NYSEMKT–2017–01) 

(Order Granting Accelerated Approval of Proposed 

Rule Change, as Modified by Amendment No. 1, To 

Adopt New Equity Trading Rules To Transition 

Trading on the Exchange From a Floor-Based 

Market With a Parity Allocation Model to a Fully 

Automated Market With a Price-Time Priority 

Model on the Exchange’s New Trading Technology 

Platform, Pillar). 

5The difference is that the NYSE rule uses 

‘‘trading on the Exchange’’ instead of ‘‘traded on the 

Exchange.’’ See Securities and Exchange Act 

Release No. 101477 (October 30, 2024), 89 FR 87917 

(November 5, 2024) (SR–NYSE–2024–58) (Order 

Approving a Proposed Rule Change to Amend 

NYSE Rule 7.13). 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(1). 

All submissions should refer to file 

number SR–NYSECHX–2024–34. 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–NYSECHX–2024–34 and should be 

submitted on or before December 11, 

2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.18

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–27022 Filed 11–19–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101624; File No. SR– 

NYSEAMER–2024–71] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Change To Amend NYSE American 

Rule 7.13E To Remove References to 

the Chair of the Board 

November 14, 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 

November 8, 2024, 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 amend 

NYSE American Rule 7.13E to remove 

references to the Chair of the Board. The 

proposed rule change is available on the 

Exchange’s website at www.nyse.com, at 

the principal office of the Exchange, and 

at the Commission’s Public Reference 

Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

self-regulatory organization included 

statements concerning the purpose of, 

and basis for, the proposed rule change 

and discussed any comments it received 

on the proposed rule change. The text 

of those statements may be examined at 

the places specified in Item IV below. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend 

NYSE American Rule 7.13E (Trading 

Suspensions) to remove references to 

the Chair of the Board of Directors of the 

Exchange (‘‘Board’’). 

Under current Rule 7.13E,4 the Chair 

of the Board or the chief executive 

officer of the Exchange (the ‘‘CEO’’), or 

the officer designee of the Chair or the 

CEO, has the power to suspend trading 

on any and all securities traded on the 

Exchange whenever in his or her 

opinion such suspension would be in 

the public interest. No such action shall 

continue longer than two days or as 

soon thereafter as a quorum of Directors 

can be assembled, unless the Board 

approves the continuation of such 

suspension. 

The Exchange believes that it is 

advisable to remove the references to 

the Chair in Rule 7.13E because the 

Chair has not acted under Rule 7.13E 

since the rule was adopted and the 

Exchange does not anticipate that an 

independent or non-employee Chair 

will have sufficient involvement in the 

day-to-day operations of the Exchange 

to act under the Rule. 

Moreover, the proposed changes to 

Rule 7.13E would make it substantially 

similar to the rule text governing 

Trading Suspensions currently in place 

on the Exchange’s affiliate the New York 

Stock Exchange LLC (‘‘NYSE’’) in its 

Rule 7.13.5 The proposed changes to 

Rule 7.13E therefore would harmonize 

the Exchange’s rules with those of its 

affiliate NYSE and provide for 

consistent authority to suspend trading 

across the Exchange and the NYSE. 

To effectuate the change, the first 

sentence of the Rule would be amended 

as follows (proposed deletions 

bracketed): 

The [Chair of the Board or the] CEO, or the 

officer designee of [the Chair or] the CEO, 

shall have the power to suspend trading in 

any and all securities traded on the Exchange 

whenever in his or her opinion such 

suspension would be in the public interest. 

The requirement that no such action 

continue longer than two days or as 

soon thereafter as a quorum of Directors 

can be assembled, unless the Board 

approves the continuation of such 

suspension, would remain. No other 

changes to Rule 7.13E are proposed. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,6 in general, and 

furthers the objectives of Section 

6(b)(1) 7 in particular, in that it enables 

the Exchange to be so organized as to 

have the capacity to be able to carry out 


khammond on DSK9W7S144PROD with NOTICES