Federal Register / Vol. 89, No. 224 / Wednesday, November 20, 2024 / Notices 91815 

73Section 19(b)(2) of the Act, as amended by the 

Securities Acts Amendments of 1975, Public Law 

94–29 (June 4, 1975), grants the Commission 

flexibility to determine what type of proceeding— 

either oral or notice and opportunity for written 

comments—is appropriate for consideration of a 

particular proposal by a self-regulatory 

organization. See Securities Acts Amendments of 

1975, Senate Comm. on Banking, Housing & Urban 

Affairs, S. Rep. No. 75, 94th Cong., 1st Sess. 30 

(1975). 

74 17 CFR 200.30–3(a)(57). 

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–E was adopted in 

2017 when the Exchange’s subsidiary NYSE Arca 

Equities Inc. was merged into the Exchange. See 

Securities and Exchange Act Release No. 81419 

(August 17, 2017), 82 FR 40044 (August 23, 2017) 

(SR–NYSEArca-2017–40) (Notice of Filing of 

Amendment No. 2 and Order Granting Accelerated 

Approval of a Proposed Rule Change, as Modified 

by Amendment No. 2, in Connection With the 

Proposed Merger of Its Wholly Owned Subsidiary 

NYSE Arca Equities, Inc. With and Into the 

Exchange). 

requirements of Section 6(b)(5) of the 

Act. 

IV. Procedure: Request for Written 

Comments 

The Commission requests that 

interested persons provide written 

submissions of their views, data, and 

arguments with respect to the issues 

identified above, as well as any other 

concerns they may have with the 

proposal. In particular, the Commission 

invites the written views of interested 

persons concerning whether the 

proposal is consistent with Section 

6(b)(5) or any other provision of the Act, 

and the rules and regulations 

thereunder. Although there do not 

appear to be any issues relevant to 

approval or disapproval that would be 

facilitated by an oral presentation of 

views, data, and arguments, the 

Commission will consider, pursuant to 

Rule 19b–4, any request for an 

opportunity to make an oral 

presentation.73

Interested persons are invited to 

submit written data, views, and 

arguments regarding whether the 

proposed rule change should be 

approved or disapproved by December 

11, 2024. Any person who wishes to file 

a rebuttal to any other person’s 

submission must file that rebuttal by 

December 26, 2024. 

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– 

CBOE–2024–036 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–CBOE–2024–036. 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–CBOE–2024–036 and should be 

submitted on or before December 11, 

2024. Rebuttal comments should be 

submitted by December 26, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.74

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–27013 Filed 11–19–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101630; File No. SR– 

NYSEARCA–2024–97] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend NYSE Arca 

Rule 7.13–E 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 Arca, Inc. 

(‘‘NYSE Arca’’ 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 Arca Rule 7.13–E 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 Arca Rule 7.13–E (Trading 

Suspensions) to remove references to 

the Chair of the Board of Directors of the 

Exchange (‘‘Board’’). 

Under current Rule 7.13–E,4 except as 

otherwise stated in Rule 5.5, the Chair 

of the Board or the President of the 

Exchange, or the officer designee of the 

Chair or the President, 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 


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91816 Federal Register / Vol. 89, No. 224 / Wednesday, November 20, 2024 / Notices 

5The differences are that the proposed NYSE 

Arca Rule 7.13–E (a) has an added cross-reference 

to Rule 5.5–E, (b) uses ‘‘traded on the Exchange’’ 

instead of ‘‘trading on the Exchange’’ and (c) uses 

‘‘President’’ instead of ‘‘CEO.’’ 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). Exchange Rule 

5.5–E has trading suspension provisions. See Rule 

5.5–E(l) (Other Reasons for Suspending or Delisting) 

and Rule 5.5–E(m) (Delisting Procedures) (listing 

Exchange Rules under which the Exchange may 

determine that it may be appropriate to either 

suspend dealings in and/or remove securities from 

listing); see also Rule 5.5–E(a) (Maintenance 

Requirements and Delisting Procedures), 

Commentary .01 (‘‘[w]hen the issuer fails to meet 

any provision of the applicable maintenance 

requirements of this Rule 5.5–E, the Exchange shall 

determine whether to suspend dealings in the 

security and/or request the issuer to take action to 

remedy any identified deficiency.’’). 

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). 

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–E because the 

Chair has not acted under Rule 7.13–E 

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–E 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–E 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): 

Except as otherwise stated in Rule 5.5–E, 

[the Chair of the Board or] the President, or 

the officer designee of [the Chair or] the 

President, 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 7.13–E 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–E to remove the references to 

the Chair would contribute to the 

orderly operation of the Exchange, as it 

would make Rule 7.13–E more 

accurately reflect current practice, as the 

Chair has not acted under Rule 7.13–E 

since the rule was adopted. It would 

also reflect the fact that 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. 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–E 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–E 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. 


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Federal Register / Vol. 89, No. 224 / Wednesday, November 20, 2024 / Notices 91817 

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. 

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 Exchange originally filed to amend the Fee 

Schedule on May 13, 2024 (SR–NYSE–2024–30). 

On July 11, 2024, the Exchange withdrew SR– 

NYSE–2024 30 and replaced it with SR–NYSE– 

2024–39. On September 6, 2024, the Exchange 

withdrew SR–NYSE–2024–39 and replaced it with 

SR–NYSE–2024–55. On November 4, 2024, the 

Exchange withdrew SR–NYSE–2024–55 and 

replaced it with this filing. 

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– 

NYSEARCA–2024–97 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–2024–97. 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–2024–97 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. 2024–27020 Filed 11–19–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101627; File No. SR–NYSE– 

2024–72] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend the 

NYSE Proprietary Market Data Fee 

Schedule To Establish an Access Fee 

for the NYSE Pillar Depth Data Feed 

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 

4, 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, II, and III below, which Items 

have been prepared by the selfregulatory 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 the 

NYSE Proprietary Market Data Fee 

Schedule to establish an Access Fee for 

the NYSE Pillar Depth data feed. 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 the 

NYSE Proprietary Market Data Fee 

Schedule (‘‘Fee Schedule’’). 

Specifically, the Exchange proposes to 

establish an Access Fee for the NYSE 

Pillar Depth (‘‘Pillar Depth’’) data feed, 

effective November 4, 2024.4

The proposed fee for Pillar Depth 

would be $250 per month, provided that 

the market data recipient separately 

pays the applicable fees for the five 

existing market data products 

underlying the Pillar Depth data feed, 

consistent with the existing fee 


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