11800 Federal Register / Vol. 74, No. 52 / Thursday, March 19, 2009 / Notices 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(6). 

5See Securities Exchange Act Release No. 29237 

(May 31, 1991), 56 FR 24853 (June 3, 1991) 

approving File Nos. SR–NYSE–90–52 and 90–53 

which established the NYSE Off-Hours Trading 

Facility on a pilot basis. See also, Securities 

Exchange Act Release No. 33992 (May 2, 1994), 59 

FR 23907 (May 9, 1994) approving the NYSE OffHours Trading Facility on a permanent basis. 

6This includes any market-wide trading halt 

instituted under Exchange Rule 80B (Trading Halts 

Due to Extraordinary Market Volatility). 

7See NYSE Rule 13 (Definitions of Orders). GTC 

orders that have been designated as ‘‘Off-Hours 

Eligible’’ under this rule are referred to as ‘‘GTX 

orders.’’ 

[FR Doc. E9–5978 Filed 3–18–09; 8:45 am] 

BILLING CODE 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59570; File No. SR–NYSE– 

2009–28] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

a Proposed Rule Change Amending 

NYSE Rules 13, 902, 903, 904, 905 and 

Rule 906 To Eliminate Certain Order 

Types From the Off-Hours Trading 

Facility 

March 12, 2009. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on March 11, 

2009, New York Stock Exchange LLC 

(‘‘NYSE’’ 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 Exchange. NYSE filed the 

proposed rule change pursuant to 

Section 19(b)(3)(A) of the Act 3 and Rule 

19b–4(f)(6) thereunder,4 which renders 

the proposal effective upon filing with 

the Commission. 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 Rules 13 (Definitions of Orders), 

902 (Off-Hours Trading Orders), 903 

(Off-Hours Transactions), 904 (Priority 

of Off-Hours Trading Orders), 905 (OffHours Trading Reports and 

Recordkeeping) and Rule 906 (Impact of 

Trading Halts on Off-Hours Trading) to 

eliminate certain order types from the 

off-hours trading facility. The text of the 

proposed rule change is available at the 

Exchange, the Commission’s Public 

Reference Room, and http:// 

www.nyse.com. 

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 

Exchange 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 

Through this filing, the Exchange 

seeks to amend NYSE Rules 902, 903, 

904 and 906 to remove certain off-hours 

trading functions from the Exchange’s 

Crossing Session I. The Exchange is 

making this change in connection with 

certain technology upgrades it expects 

to begin rolling out on or about March 

16, 2009. 

As explained more fully below, 

customers who previously relied on the 

trading functions in Crossing Session I 

that are being eliminated will be able to 

execute their off-hours trades through 

the NYSE MatchPoint® system. The 

Exchange will continue to accommodate 

certain types of off-hours trading (error 

offset trades and trades between a 

member and the DMM for the purpose 

of offsetting a market-on-close 

imbalance) in Crossing Session I. 

I. Background 

The Exchange initiated its Off-Hours 

Trading Facility in June 1991.5 In 

connection with its implementation, the 

Exchange adopted the ‘‘900’’ series of 

rules to govern trading, order eligibility, 

order entry and recordkeeping 

requirements. 

In one application of the Off-Hours 

Trading Facility, members and member 

organizations may enter orders to be 

executed at the NYSE closing price, that 

is, the price established by the last 

regular way sale in a security at the 

official closing of the 9:30 a.m. to 4 p.m. 

trading session (‘‘Crossing Session I’’). 

Orders may be entered for any 

Exchange-listed issue, other than a 

security that is subject to a trading halt 

at the close of the regular trading 

session 6 or is halted after 4 p.m. 

Crossing Session I normally runs from 

4:15 p.m. to 5 p.m. on each trading day. 

Under Rule 902(a)(i) and (ii)(A) 

respectively, members may enter singlesided orders (i.e., either an order to buy 

or an order to sell) and coupled orders 

(i.e., both a buy and a sell order) into 

Crossing Session I. In addition, pursuant 

to Rule 902(b), the Exchange will 

migrate into Crossing Session I for 

possible execution any good-tilcancelled (‘‘GTC’’) orders that have been 

designated as eligible for execution in 

the Off-Hours Trading Facility.7 These 

types of orders entered into Crossing 

Session I are usually executed at the end 

of the Session, i.e., at 5 p.m. 

Rules 903 and 904 describe, in 

pertinent part, how orders that are 

entered into the off-hours trading 

facility establish priority, and the 

execution protocols for such orders. 

Specifically, Rule 903 provides that 

single-sided and migrated GTX orders 

are to be executed against opposite side 

single-sided and GTX orders in the OffHours trading Facility, while coupled 

orders are to be executed against the 

other side of the coupled order. Rule 

904 provides that GTX orders retain the 

priority among themselves that existed 

when they were entered into Display 

Book®, while the priority of coupled 

orders will be determined based upon 

their sequence of entry into the OffHours Trading facility. 

Rule 905 requires that certain records 

be maintained by members and member 

organizations with respect to off-hours 

trading. 

Rule 906 outlines procedures under 

which Off-Hours Trading Facility orders 

in an NYSE-listed security may go 

unexecuted if such security was subject 

to a trading halt. 

II. Proposed Changes to Off-Hours Order 

Processing and Rule Amendments 

The Exchange is preparing to institute 

a number of technology changes to its 

systems that will foster more efficient 

and cost effective processing of orders it 

receives. As part of these changes, the 

Exchange is phasing out the SuperDOT®

system and will replace it with a system 

referred to as Super Display Book 

(‘‘SDBK’’). 

Because the Off-Hours Trading 

Facility relies on the SuperDOT system 

for certain trade processing functions, 

the Exchange plans to eliminate the 

ability for single-sided, coupled orders 

and GTX to be entered or migrated into 

the off-hours trading facility known as 


sroberts on PROD1PC70 with NOTICES
Federal Register / Vol. 74, No. 52 / Thursday, March 19, 2009 / Notices 11801 

8The Exchange is retaining the Aggregate-Price 

Coupled Order type, as defined in Rule 900 (OffHours Trading: Applicability and Definitions), 

paragraph (e)(i). This order type is specified for 

coupled buy and sell orders representing 15 or more 

securities having a total market value of $1 million 

or more. These orders are entered and executed in 

Crossing Session II. 

9These types of orders are entered pursuant to 

Rule 902(a)(ii)(B). 

10See, generally, NYSE Rule 1500 (NYSE 

MatchPointSM) and Securities Exchange Act Release 

No. 57058 (December 28, 2007), 73 FR 903 (January 

4, 2008) approving adoption of that rule. 

Crossing Session I, and to instead direct 

customers to use the NYSE’s 

MatchPoint system to effect those types 

of trades. Accordingly, the Exchange is 

proposing to amend Rules 902, 903, 905 

and 906 and to rescind Rule 904 in its 

entirety to remove the provisions that 

relate to closing price single-sided, 

coupled and GTX orders. The Exchange 

also proposes to amend Rule 13 to 

remove provisions relating to GTX 

orders as these will no longer be 

supported by Exchange systems. 

1. Proposed Amendments 

a. Rule 13 (Definitions of Orders) 

When the Exchange created its OffHours Trading Facility, it decided to 

provide a means for good-til-cancelled 

(GTC) orders to become automatically 

eligible for execution in this facility if 

the person or entity who had entered 

the GTC order so desired. This would 

then provide a possible source of 

liquidity to the Off-Hours Trading 

Facility, and could increase a GTC 

order’s chance of being executed since 

it could access additional liquidity that 

was entered into the Off-Hours Trading 

Facility that was not available during 

the Exchange’s regular trading session. 

At the same time, the Exchange 

provided that the GTC orders designated 

to migrate to the Off-Hours Trading 

Facility would return to the Display 

Book, and retain their original priority 

on Display Book, if not executed in the 

Off-Hours Trading Facility. This would 

provide a further incentive to migrate 

GTC orders since they would not lose 

their standing on the Display Book as a 

result of the migration. 

The language indicating that a goodtil-cancelled order may be designated as 

‘‘Off-Hours eligible’’ and executed 

through the ‘‘Off-Hours Trading 

Facility’’ is proposed for deletion as this 

order type is being eliminated. The 

Exchange also proposes to add language 

to the definition of the good-tilcancelled order type to indicate that 

these orders are not eligible for 

execution in any Off-Hours Trading 

Facility of the Exchange. 

b. Rule 902 (Off-Hours Trading Orders) 

The Exchange proposes to delete 

paragraph (a)(i) (Closing-Price Orders) 

and paragraph (a)(ii)(A) (Closing-Price 

Coupled Orders) in their entirety to 

eliminate these as order types eligible 

for entry and execution in the Off-Hours 

Trading Facility.8 Paragraph (b) 

(Migration of Orders) is also proposed to 

be deleted to reflect the elimination of 

GTX, as that paragraph explains the 

migration of GTC orders from the 

regular hours trading session to the OffHours Trading Session. Paragraph (d) is 

proposed to be deleted since it explains 

that a migrated order (i.e., a GTX order) 

or a closing price order may be 

cancelled before execution. Paragraph 

(e) (Disposition of Unexecuted Orders) 

is proposed for deletion as it relates to 

migration of unexecuted GTX orders 

back to the Display Book if they are not 

executed in the Off-Hours Trading 

Facility, and to the fact that unexecuted 

closing-price orders expire if 

unexecuted in the Off-Hours trading 

Facility. References to closing-price 

orders and paragraphs (a)(ii) and (b) are 

proposed for deletion in paragraph (g) 

(Odd-Lots and Partial Round Lots). 

c. Rule 903 (Off-Hours Transactions) 

Paragraph (a) (Priority of Single-Sided 

Orders) is proposed for deletion as it 

relates solely to this order type, which 

is being eliminated. In paragraphs (b) 

(Priority of Coupled Orders) and (c) 

(Binding Nature), references to closingprice, paragraph (a)(ii) of Rule 902 and 

paragraph (a) of Rule 903 are proposed 

for deletion as they will no longer be 

valid references. References to singlesided and coupled closing-price orders 

in (d) (Executions of Orders) are also 

proposed for deletion. 

d. Rule 904 (Priority of Off-Hours 

Trading Orders) 

The Exchange proposes to delete this 

rule entirely. Rule 904 (Priority of OffHours Trading Orders) relates to the 

priority of GTX among themselves as 

existed when these orders were on the 

Display Book, and the priority of 

closing-price orders entered into the 

Off-Hours Trading Facility. 

e. Rule 905 (Off-Hours Trading Reports 

and Recordkeeping) 

A reference to closing price and 

migrated orders is proposed for deletion 

in paragraph (b) (Off-Hours Trading 

Records) of this rule. 

f. Rule 906 (Impact of Trading Halts on 

Off-Hours Trading) 

Paragraph (a) (Security Halts Prior to 

Off-Hours Trading) is proposed to be 

deleted in its entirety as it relates to 

closing-price and migrated orders, 

which are both being eliminated. 

Paragraph (b) (Corporate Developments 

during Off-Hours Trading Session) of 

the rule establishes the Exchange’s 

ability to halt trading in a security 

during the time it is open for Off-Hours 

Trading as a result of a corporate 

development. The Exchange proposes to 

delete subparagraphs (i), (ii) and (iii), 

which relate to closing-price and 

migrated GTC orders since they are 

being eliminated. The provision in the 

rule relating the permissibility of entry 

or the exemption from cancellation for 

closing price orders entered by 

Designated Market Makers (‘‘DMMs’’) in 

stocks that would otherwise be 

cancelled or prohibited from entry as a 

result of corporate developments to 

offset all or part of a market-on-close 

imbalance that existed in a stock prior 

to the close of the Exchange’s regular 

trading session is being retained.9 In 

these instances, the DMM and the 

member organization taking the other 

side have already agreed to trade in the 

stock at the closing price and this 

agreement is not affected by the ensuing 

corporate development. The Exchange is 

therefore proposing to add the phrase 

‘‘as a result of corporate developments 

during the Off-Hours Trading Session’’ 

to paragraph (b) to complete the last 

sentence of the paragraph. 

2. Availability of MatchPoint for OffHours Trading 

In the Exchange’s view these changes 

will not significantly affect the 

experience of customers who would 

have previously submitted orders to 

Crossing Session I for execution since 

similar functionality exists in the 

MatchPoint system. MatchPoint is an 

NYSE electronic equity-trading facility 

that matches aggregated orders at 

predetermined fixed times with prices 

that are derived from primary markets. 

There are seven matching sessions at 

fixed times throughout the trading day, 

and, of particular relevance to this 

filing, an after-hours matching session at 

4:45 p.m. 

Orders in MatchPoint are executed at 

a single trading price (known as the 

‘‘reference price’’) that, for the 4:45 

match is equal to the NYSE official 

closing price for NYSE-listed securities 

and the official closing price of the 

primary market for all non-NYSE-listed 

securities.10 Customers who previously 

executed single-sided and coupled 

trades through Crossing Session I at the 

NYSE’s official closing price can submit 

single-sided and coupled orders for 

execution through MatchPoint. 


sroberts on PROD1PC70 with NOTICES
11802 Federal Register / Vol. 74, No. 52 / Thursday, March 19, 2009 / Notices 

11A ‘‘market-on-close order is a market’’ order 

which is to be executed in its entirety at the closing 

price, on the Exchange, of the stock named in the 

order, and if not so executed, is to be treated as 

cancelled. See NYSE Rule 13. 

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

13 15 U.S.C. 78f(b)(5). 

14 15 U.S.C. 78s(b)(3)(A). 

15 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires a self-regulatory organization to 

provide the Commission with 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. 

16For 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). 

It should be noted that certain other 

order types allowed under Rule 902 will 

not be affected by the proposed changes, 

although after the phase-out, the 

Exchange will process these trades on a 

different system instead of through 

SuperDOT. In particular, Rule 

902(a)(ii)(C) permits a coupled order to 

be submitted in Crossing Session I to 

address situations where a member or 

member organization wishes to close 

out an error at the closing price on the 

Exchange, and the Designated Market 

Maker has agreed to take the other side 

of the error trade. NYSE Rule 

902(a)(ii)(B) permits entry of coupled 

orders when one side of such coupled 

order is for the account of a specialist 

member organization entered in those 

instances in which the coupled order 

reflects contra side interest to offset an 

imbalance of market-on-close orders 11

that existed at the regular 4 p.m. close. 

The Exchange is not deleting these 

provisions from its rules, and member 

organizations will continue to be able to 

execute these trades in the same manner 

that they do today. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,12 in general, and furthers the 

objectives of Section 6(b)(5) of the Act,13

in particular, in that it is 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 a national market system, and, in 

general, to protect investors and the 

public interest. The Exchange believes 

the proposed rule change will facilitate 

the timely and efficient execution of 

securities on the Exchange by 

eliminating the use of an under-utilized 

order types and thus ultimately serve to 

protect investors and the public interest. 

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. 

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 foregoing proposed rule 

change: (1) Does not significantly affect 

the protection of investors or the public 

interest; (2) does not impose any 

significant burden on competition; and 

(3) by its terms does not become 

operative for 30 days after the date of 

this filing, 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) 14 of the Act and 

subparagraph (f)(6) of Rule 19b–4 15

thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) normally does not 

become operative for 30 days after the 

date of filing. However, Rule 19b– 

4(f)(6)(iii) permits the Commission to 

designate a shorter time if such action 

is consistent with the protection of 

investors and the public interest. The 

Exchange requests that the Commission 

waive the 30-day operative delay so that 

the Exchange can implement a number 

of technology changes to its system 

related to off-hours trading immediately. 

The Exchange states that the proposed 

rule change does not significantly affect 

the protection of investors or the public 

interest and does not impose any 

significant burden on competition. 

NYSE believes that the proposed rule 

change is non-controversial in that it 

serves to allow the Exchange to merely 

eliminate duplicate functions with 

respect to entry of off-hours orders. 

The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest.16

Because customers who previously 

relied on trading functions in Crossing 

Session I will be able to execute their 

off-hours trades through the NYSE 

MatchPoint® system, the elimination of 

such functionality within the 

Exchange’s system does not appear to 

present any novel or significant 

regulatory issues or impose any 

significant burden on competition. For 

these reasons, the Commission 

designates the proposed rule change as 

operative upon filing. 

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

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. 

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 e-mail to 

rule-comments@sec.gov. Please include 

File Number SR–NYSE–2009–28 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR-NYSE–2009–28. This file 

number should be included on the 

subject line if e-mail 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 Web site (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 inspection and copying in 

the Commission’s Public Reference 

Room, 100 F Street, NE., Washington, 


sroberts on PROD1PC70 with NOTICES
Federal Register / Vol. 74, No. 52 / Thursday, March 19, 2009 / Notices 11803 

17 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(3). 

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

6 15 U.S.C. 78f(b)(5). 

7 15 U.S.C. 78s(b)(3)(A). 

8 17 CFR 240.19b–4(f)(3). 

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. All 

comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. 

All submissions should refer to File 

Number SR–NYSE–2009–28 and should 

be submitted on or before April 9, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–5931 Filed 3–18–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59575; File No. SR– 

NYSEALTR–2009–24] 

Self-Regulatory Organizations; NYSE 

Alternext U.S. LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending Certificate of 

Formation, Amended and Restated 

Operating Agreement, Rules, and 

Company Guide To Change the Name 

of the Exchange to NYSE Amex LLC 

March 13, 2009. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on March 3, 

2009, NYSE Alternext U.S. LLC 

(‘‘NYSEALTR’’ or the ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by NYSEALTR. The 

Exchange has designated this proposal 

as one concerned solely with the 

administration of the Exchange 

pursuant to Section 19(b)(3)(A)(iii) of 

the Act 3 and Rule 19b–4(f)(3) 

thereunder,4 which renders the proposal 

effective upon filing with the 

Commission. 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 its 

Certificate of Formation, Amended and 

Restated Operating Agreement, Rules, 

and Company Guide to change the name 

of the Exchange to NYSE Amex LLC. 

The text of the proposed rule change 

is available at NYSE Alternext, the 

Commission’s Public Reference Room, 

and http://www.nyse.com. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

NYSEALTR 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 these 

statements may be examined at the 

places specified in Item IV below. 

NYSEALTR has prepared summaries, 

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

of the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of this proposed rule 

change is to change the name of the 

Exchange to ‘‘NYSE Amex LLC.’’ At the 

time of the acquisition of the American 

Stock Exchange LLC (‘‘Amex’’) by NYSE 

Euronext on October 1, 2008, the name 

of the Exchange, as the successor entity 

to Amex, was initially established as 

‘‘NYSE Alternext U.S. LLC.’’ After 

further analysis following the 

acquisition, the Exchange has 

determined that for branding purposes it 

would be desirable to retain some 

reference to the historic Amex exchange 

in the name of the Exchange. 

Specifically, the Certificate of 

Formation of the Exchange shall be 

amended to remove all references to 

‘‘NYSE Alternext U.S. LLC’’ and replace 

them with ‘‘NYSE Amex LLC.’’ The 

Amended and Restated Operating 

Agreement of NYSE Alternext U.S. LLC 

shall again be amended and restated to 

become the Amended and Restated 

Operating Agreement of NYSE Amex 

LLC, with the word ‘‘Company’’ to be 

redefined to represent ‘‘NYSE Amex 

LLC’’ and ARTICLE I, Section 1.01 to be 

revised to state the name of the limited 

liability company as ‘‘NYSE Amex 

LLC.’’ In the Exchange’s Rules and its 

Company Guide, all references to 

‘‘Alternext’’ or ‘‘Alternext US’’ will be 

replaced with the word ‘‘Amex.’’ None 

of the foregoing changes are substantive. 

Two minor non-substantive corrections 

to the lettering format in one rule will 

also be made. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) 5 of the Securities Exchange Act of 

1934 (the ‘‘Act’’), in general, and 

furthers the objectives of Section 

6(b)(5) 6 in particular 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. More specifically, 

changing the name of the Exchange to 

include a reference to the historic Amex 

exchange may help eliminate potential 

confusion among investors and assist in 

clarifying for them the role of the 

Exchange in the marketplace and the 

types of companies whose securities are 

listed here. 

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 purposes of the Act. 

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 foregoing proposed rule 

change is concerned solely with the 

administration of the Exchange, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 7 and 

subparagraph (f)(3) of Rule 19b–4 

thereunder.8 At any time within 60 days 

of the filing of the proposed rule change, 

the Commission may summarily 

abrogate such rule change if it appears 

to the Commission that such action is 

necessary or appropriate in the public 


sroberts on PROD1PC70 with NOTICES