Federal Register / Vol. 89, No. 247 / Thursday, December 26, 2024 / Notices 105153 

6See supra note 4. 

7See supra note 5. 

8See supra note 4. 

9See supra note 2. 

10See supra note 4. 

11See supra note 2. 

12See supra note 4. 

will be approximately 156,038 burden 

hours (975,240 multiplied by 0.16 

hours/demonstration 6). 

Pre-Borrow Notification Requirement: 

As of December 29, 2023, there were 

129 participants of NSCC that were 

registered as broker-dealers. If a 

participant of a registered clearing 

agency has a fail to deliver position in 

an equity security, the participant must 

determine whether the fail to deliver 

position was closed out in accordance 

with Rule 204(a). The Commission 

estimates that a participant of a 

registered clearing agency will have to 

make such determination with respect 

to approximately 65 equity securities 

per day.7 The Commission estimates a 

total of 2,113,020 potential notifications 

in accordance with Rule 204(c) across 

all participants per year (129 brokerdealer participants notifying brokerdealers once per day on 65 securities, 

multiplied by 252 trading days in 2023). 

The total estimated annual burden 

hours per year will be approximately 

338,083 burden hours (2,113,020 

multiplied by 0.16 hours/notification 8). 

Certification Requirement: As of 

quarter four 2023, there were 3,429 

registered broker-dealers. Each of these 

broker-dealers may clear trades through 

a participant of a registered clearing 

agency. If the broker-dealer determines 

that it has not incurred a fail to deliver 

position on settlement date for a long or 

short sale in an equity security for 

which the participant has a fail to 

deliver position at a registered clearing 

agency or has purchased or borrowed 

securities in accordance with the prefail credit provision of Rule 204(e), the 

Commission estimates that a brokerdealer could have to make such 

determination with respect to 

approximately 2.44 securities per day.9

The Commission estimates that each 

such registered broker-dealer could have 

to certify to a participant that the 

broker-dealer has not incurred a fail to 

deliver position on settlement date for a 

long or short sale in an equity security 

for which the participant has a fail to 

deliver position at a registered clearing 

agency or, alternatively, that the brokerdealer is in compliance with the 

requirements set forth in the pre-fail 

credit provision of Rule 204(e), 

2,108,424 times per year (3,429 

registered broker-dealers certifying once 

per day on 2.44 securities, multiplied by 

252 trading days in 2023). The total 

approximate estimated annual burden 

hours per year will be approximately 

337,348 burden hours (2,108,424 

multiplied by 0.16 hours/ 

certification 10). 

Pre-Fail Credit Demonstration 

Requirement: As of quarter four 2023, 

there were 3,429 registered brokerdealers. If a broker-dealer purchased or 

borrowed securities in accordance with 

the conditions specified in Rule 204(e) 

and determined that it had a net long 

position or net flat position on the 

settlement day for which the brokerdealer is claiming pre-fail credit, the 

Commission estimates that a brokerdealer could have to make such 

determination with respect to 

approximately 2.44 securities per day.11

The Commission estimates that the total 

number of times per year that such 

registered broker-dealers could have to 

demonstrate on their respective books 

and records that the broker-dealer has a 

net long position or net flat position on 

the settlement day for which the brokerdealer is claiming pre-fail credit is 

2,108,424 times per year (3,429 

registered broker-dealers checking for 

compliance once per day on 2.44 equity 

securities, multiplied by 252 trading 

days in 2023). The total approximate 

estimated annual burden hours per year 

will be 337,348 burden hours (2,108,424 

multiplied by 0.16 hours/ 

demonstration 12). 

The total aggregate annual burden for 

the collection of information undertaken 

pursuant to all five provisions is thus 

1,506,165 hours per year (337,348 + 

156,038 + 338,083 + 337,348 + 337,348). 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

The public may view and comment 

on this information collection request 

at: https://www.reginfo.gov/public/do/ 

PRAViewICR?ref_nbr=202410-3235-002 

or send an email comment to 

MBX.OMB.OIRA.SEC_desk_officer@

omb.eop.gov within 30 days of the day 

after publication of this notice by 

January 27, 2025. 

Dated: December 19, 2024. 

J. Matthew DeLesDernier, 

Deputy Secretary. 

[FR Doc. 2024–30770 Filed 12–23–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–637, OMB Control No. 

3235–0687] 

Proposed Collection; Comment 

Request; Extension: Rule 239 

Upon Written Request Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit this existing collection 

of information to the Office of 

Management and Budget for extension 

and approval. 

Rule 239 (17 CFR 230.239) provides 

exemptions under the Securities Act of 

1933 (15 U.S.C. 77a et seq.), the 

Securities Exchange Act of 1934 (15 

U.S.C. 78a et seq.) and the Trust 

Indenture Act of 1939 (U.S.C. 77aaa et 

seq.) for security-based swaps issued by 

certain clearing agencies satisfying 

certain conditions. The purpose of the 

information required by Rule 239 is to 

make certain information about 

security-based swaps that may be 

cleared by the registered or the exempt 

clearing agencies available to eligible 

contract participants and other market 

participants. We estimate that each 

registered or exempt clearing agency 

issuing security-based swaps in its 

function as a central counterparty will 

spend approximately 2 hours each time 

it provides or update the information in 

its agreements relating to security-based 

swaps or on its website. We estimate 

that each registered or exempt clearing 

agency will provide or update the 

information approximately 20 times per 

year. In addition, we estimate that 75% 

of the 2 hours per response (1.5 hours) 

is prepared internally by the clearing 

agency for a total annual reporting 

burden of 180 hours (1.5 hours per 

response × 20 times × 6 respondents). 

Written comments are invited on: (a) 

whether this proposed collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information will have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden imposed by the collection 

of information; (c) ways to enhance the 

quality, utility, and clarity of the 

information collected; and (d) ways to 

minimize the burden of the collection of 


ddrumheller on DSK120RN23PROD with NOTICES1
105154 Federal Register / Vol. 89, No. 247 / Thursday, December 26, 2024 / Notices 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Section 104 of the Company Guide and 

Sections 102.03 and 103.05 of the NYSE Listed 

Company Manual. To qualify for original listing, 

both NYSE American and NYSE require that a bond 

(i) have an aggregate market value or principal 

amount of at least $5,000,000, and (ii) meet one of 

several enumerated issuer or bond rating statuses. 

With respect to convertible bonds, the NYSE 

requires that an issue have an aggregate market 

value or principal amount of no less than 

$10,000,000. NYSE American does not have a 

similar requirement. 

5See Section 902.08 of the NYSE Listed Company 

Manual. 6Section 902.08 of the NYSE Listed Company 

Manual specifies that domestic listed debt of issuers 

exempt from registration under the Securities and 

Exchange Act of 1934 (‘‘Exempt Issuers’’) is not 

subject to any listing fee. Section 902.08 of the 

NYSE Listed Company Manual further specifies 

that bonds whose listing is transferred from another 

national securities exchange or that list in 

conjunction with their voluntary delisting from a 

regulated foreign exchange are not subject to initial 

listing fees or any annual listing fee in their first 

partial yar of listing. NYSE American does not 

currently list debt securities of Exempt Issuers so 

it does not propose to add this provision to its rule. 

Similarly, issuers have not historically transferred 

bonds to NYSE American from another national 

securities exchange or listed bonds on NYSE 

American in conjunction with their voluntary 

delisting from a regulated foreign exchange. 

Therefore, NYSE American does not propose to add 

this provision to its rules. 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology. Consideration will be given 

to comments and suggestions submitted 

in writing within 60 days of this 

publication by February 24, 2025. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

control number. 

Please direct your written comment to 

Austin Gerig, Director/Chief Data 

Officer, Securities and Exchange 

Commission, c/o Tanya Ruttenberg, 100 

F Street, NE, Washington, DC 20549 or 

send an email to: PRA_Mailbox@

sec.gov. 

Dated: December 19, 2024. 

J. Matthew DeLesDernier, 

Deputy Secretary. 

[FR Doc. 2024–30771 Filed 12–23–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101967; File No. SR– 

NYSEAMER–2024–79] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Change to Amend Sections 140 and 

141 of the NYSE American Company 

Guide to Amend the Original and 

Annual Listing Fees for Bonds and the 

Annual Fee for Stock Issues 

December 18, 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 December 

16, 2024, NYSE American LLC (‘‘NYSE 

American’’ 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 

Sections 140 and 141 of the NYSE 

American Company Guide (the 

‘‘Company Guide’) to (i) amend the 

original and annual listing fees for 

bonds, and (ii) amend the annual fee for 

stock issues. 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 

Sections 140 and 141 of the Company 

Guide to (i) amend the original and 

annual listing fees for bonds, and (ii) 

amend the annual fee for stock issues. 

The proposed changes will take effect 

from the beginning of the calendar year 

commencing on January 1, 2025. 

The Exchange currently charges an 

annual fee of $55,000 to issuers with 50 

million or fewer shares outstanding and 

an annual fee of $75,000 to issuers with 

more than 50 million shares 

outstanding. The Exchange proposes to 

amend Section 141 of the Company 

Guide to increase the annual fee for 

issuers with 50 million or fewer shares 

outstanding to $60,000, and to increase 

the annual fee for issuers with more 

than 50 million shares outstanding to 

$80,000. 

The proposed increase to the annual 

fee for stock issues reflects increases in 

the costs the Exchange incurs in 

providing services to listed companies 

on an ongoing basis including in 

relation to company events and 

advocacy on behalf of listed companies, 

as well as increases in the costs of 

conducting its related regulatory 

activities. The Exchange proposes to 

make the aforementioned fee increases 

to better reflect the Exchange’s costs 

related to listing equity securities and 

the corresponding value of such listing 

to companies. 

The revised annual fee for stock 

issues will be applied in the same 

manner to all issuers with listed 

securities in the affected categories and 

the Exchange believes that the changes 

will not disproportionately affect any 

specific category of issuers. 

Pursuant to Section 140 of the 

Company Guide, the Exchange currently 

charges an original listing fee for bond 

issues equal to $100 per $1 million 

principal amount (or fraction thereof) 

and subject to a minimum original 

listing fee of $5,000 and a maximum fee 

of $10,000. Pursuant to Section 141 of 

the Company Guide, the Exchange 

currently charges an annual fee for 

listed bonds equal to $5,000. 

Similar to bonds listed on New York 

Stock Exchange LLC (‘‘NYSE’’), bonds 

that are listed on NYSE American trade 

on the NYSE Bonds platform. The 

quantitative original listing standards 

for bonds listed on the NYSE or NYSE 

American exchanges are nearly 

identical.4 Because bonds listed on 

NYSE American and NYSE are subject 

to the same quantitative listing 

standards (except as described in 

Footnote 3) and trade on the same NYSE 

Bonds platform, the Exchange believes 

it is appropriate to align the original and 

annual fee schedule for bonds listed on 

NYSE American with the schedule 

applicable to bonds listed on the NYSE 5

as the value of a bond listing is the same 

to an issuer regardless of the exchange 

on which the bond is listed. 

Accordingly, the Exchange proposes 

to amend Section 140 of the Company 

Guide to specify that listed bonds will 

be subject to a flat original listing fee of 

$25,000.6 The Exchange proposes to 


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