36356 Federal Register / Vol. 87, No. 116 / Thursday, June 16, 2022 / Notices 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 93849 

(Dec. 22, 2021), 86 FR 74204 (Dec. 29, 2021 

(‘‘Notice’’). 

4 15 U.S.C. 78s(b)(2). 

5See Securities Exchange Act Release No. 94181 

(Feb. 8, 2022), 87 FR 8305 (Feb. 14, 2022). 

6See Securities Exchange Act Release No. 94483 

(Mar. 22, 2022), 87 FR 17346 (Mar. 28, 2022) 

(‘‘OIP’’). 

7See letter to Vanessa Countryman, Secretary, 

Commission, from Hope M. Jarkowski, General 

Counsel, New York Stock Exchange LLC (May 24, 

2022) (‘‘NYSE Letter’’). 

8A ‘‘MOC Order’’ or ‘‘Market-on-Close Order’’ is 

a Market Order that is to be traded only during a 

closing auction. See NYSE Rule 7.31(c)(2)(B). A 

‘‘LOC Order’’ or ‘‘Limit-on-Close Order’’ is a Limit 

Order that is to be traded only during a closing 

auction. See NYSE Rule 7.31(c)(2)(A). A ‘‘Closing 

IO Order’’ or ‘‘Closing Imbalance Offset Order’’ is 

a Limit Order to buy (sell) an in an Auction-Eligible 

Security that it to be traded only in a Closing 

Auction. See NYSE Rule 7.31(c)(2)(D). 

9See NYSE Rule 7.35(a)(8). 

10 ‘‘Legitimate Error’’ means an error in any term 

of an order, such as price, number of shares, side 

of the transaction (buy or sell), or identification of 

the security. See NYSE Rule 7.35(a)(13). 

11NYSE Rule 7.35B(j)(2)(B) currently specifies 

the circumstances under which the Exchange may 

temporarily suspend the prohibition on canceling 

an MOC or LOC Order in connection with the 

Closing Auction. 

12See Notice, supra note 3, 86 FR at 74205. 

13 In approving this proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition, and capital 

formation. See 15 U.S.C. 78c(f). 

that 25% of the 2 hours per response 

(0.5 hours) is prepared by the company 

for a total annual reporting burden of 

400 hours (0.5 hours per response × 800 

responses). 

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 

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 August 15, 2022. 

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 

David Bottom, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o John 

Pezzullo, 100 F Street NE, Washington, 

DC 20549 or send an email to: PRA_

Mailbox@sec.gov. 

Dated: June 10, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–12947 Filed 6–15–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 95086; File No. SR–NYSE– 

2021–74] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Order 

Granting Approval of a Proposed Rule 

Change To Amend the Provisions of 

NYSE Rule 7.35B 

June 10, 2022. 

I. Introduction 

On December 14, 2021, New York 

Stock Exchange LLC (‘‘NYSE’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

amend NYSE Rule 7.35B relating to the 

cancellation of MOC, LOC, and Closing 

IO Orders before the Closing Auction. 

The proposed rule change was 

published for comment in the Federal 

Register on December 29, 2021.3 On 

February 8, 2022, pursuant to Section 

19(b)(2) of the Act,4 the Commission 

extended the time period within which 

to approve the proposed rule change, 

disapprove the proposed rule change, or 

institute proceedings to determine 

whether to approve or disapprove the 

proposed change.5

On March 22, 2022, the Commission 

instituted proceedings under Section 

19(b)(2)(B) of the Act to determine 

whether to approve or disapprove the 

proposed rule change.6 The Commission 

has received one comment on the 

proposed rule change.7 This Order 

approves the proposal. 

II. Description of the Proposal 

The Exchange proposes to modify 

NYSE Rule 7.35B(f)(2), which sets forth 

rules pertaining to the cancellation of 

MOC, LOC, and Closing IO Orders 

before the Closing Auction Imbalance 

Freeze,8 and to make conforming 

changes to NYSE Rule 7.35B(j)(2)(B). 

NYSE Rule 7.35B(f)(2)(A) currently 

provides that, between the Closing 

Auction Imbalance Freeze Time, which 

is 10 minutes before the scheduled end 

of Core Trading Hours,9 and two 

minutes before the scheduled end of the 

Core Trading Hours, MOC, LOC, and 

Closing IO Orders may be canceled or 

reduced in size only to correct a 

Legitimate Error.10 NYSE Rule 

7.35B(f)(2)(B) currently specifies that, 

except as provided for in NYSE Rule 

7.35B(j)(2)(B),11 a request to cancel, 

cancel and replace, or reduce in size a 

MOC, LOC, or Closing IO Order entered 

two minutes or less before the 

scheduled end of the Core Trading 

Hours will be rejected. 

The Exchange proposes to modify 

NYSE Rule 7.35B(f)(2) to provide that 

any requests to cancel, cancel and 

replace, or reduce in size a MOC, LOC, 

or Closing IO Order that is entered 

between the beginning of the Auction 

Imbalance Freeze and the scheduled 

end of Core Trading Hours would be 

rejected. Thus, as proposed, requests to 

cancel, replace, or reduce in size a 

MOC, LOC, or Closing IO Order would 

have to be received before the beginning 

of the Auction Imbalance Freeze (i.e., 10 

minutes prior to the scheduled end of 

Core Trading Hours), even in the case of 

a Legitimate Error. The Exchange 

represents that, since August 2021, the 

Exchange has not received any requests 

to cancel, cancel and replace, or reduce 

in size a MOC, LOC, or Closing IO Order 

between the beginning of the Auction 

Imbalance Freeze and two minutes 

before the scheduled end of Core 

Trading Hours.12

Additionally, NYSE proposes to make 

the following conforming changes to 

make NYSE Rule 7.35B(j)(2)(B) 

consistent with the proposed changes 

described above: (1) replace the 

reference to ‘‘two minutes before the 

scheduled end of Core Trading Hours’’ 

with ‘‘the beginning of the Auction 

Imbalance Freeze,’’ and (2) replace the 

reference to ‘‘paragraph (f)(2)(B)’’ with 

‘‘paragraph (f)(2).’’ Thus, NYSE Rule 

7.35B(j)(2)(B), as amended, would 

provide that the Exchange may 

temporarily suspend the prohibition on 

cancelling an MOC or LOC Order after 

the beginning of the Auction Imbalance 

Freeze (as such prohibition would be set 

forth in NYSE Rule 7.35B(f)(2), as 

amended). 

III. Discussion and Commission 

Findings 

After careful review of the proposal 

and the comment letter, the Commission 

finds that the proposed rule change is 

consistent with the requirements of the 

Act and the rules and regulations 

thereunder applicable to a national 

securities exchange.13 In particular, the 

Commission finds that the proposed 

rule change is consistent with Section 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 87, No. 116 / Thursday, June 16, 2022 / Notices 36357 

14 15 U.S.C. 78f(b)(5). 

15See Securities Exchange Act Release No. 93037 

(Sept. 16, 2021), 86 FR 52719 (Sept. 22, 2021) (SR– 

NYSE–2021–44) (‘‘Closing Auction Filing’’). 

16See OIP, supra note 8, 87 FR at 17347. 

17See NYSE Letter, supra note 9 at 2. 

18See NYSE Letter, supra note 9 at 1. 

19See NYSE Letter, supra note 9 at 1–2. 

20See Securities Exchange Act Release No. 94835 

(May 3, 2022), 87 FR 27669 (May 9, 2022). 

21 15 U.S.C. 78s(b)(2). 

22 17 CFR 200.30–3(a)(12). 

6(b)(5) of the Act,14 which requires, 

among other things, that the rules of a 

national securities exchange be 

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, and that the rules of a 

national securities exchange not be 

designed to permit unfair 

discrimination between customers, 

issuers, brokers, or dealers. 

In the OIP, the Commission noted that 

the Exchange had separately proposed a 

different set of changes to its Closing 

Auction process,15 and that the 

Commission was instituting proceedings 

to allow for additional analysis and 

input concerning the instant proposed 

rule change’s consistency with 

requirements of the Act and to evaluate 

the proposal in light of of other pending 

proposed changes to the Closing 

Auction.16 In response to the OIP, the 

Exchange states that, because the two 

filings set forth independent proposed 

changes with distinct purposes, the 

Commission should approve the 

proposed rule change.17 The Exchange 

states that, while the instant proposal 

addresses certain orders that participate 

in the NYSE Closing Auction, the 

instant proposal is otherwise unrelated 

to changes proposed under the Closing 

Auction Filing.18 The Exchange further 

states that whereas the Closing Auction 

Filing proposed to modify how the 

Closing Auction Price would be 

determined and how Designated Market 

Makers would be able to participate in 

the Closing Auction, the proposed rule 

change in this instance proposes a 

discrete change pertaining only to the 

cancellation of MOC, LOC, and Closing 

IO Orders after the Auction Imbalance 

Freeze for the Closing Auction.19 In 

addition, the Exchange has withdrawn 

the Closing Auction Filing.20

The Commission finds that the 

proposed rule change is consistent with 

Section 6(b)(5) of the Act, because it is 

reasonably designed to provide greater 

certainty regarding MOC, LOC, and 

Closing IO Orders represented in the 

Exchange’s auction imbalance 

information by requiring that any 

changes to those orders to correct a 

Legitimate Error be made by 10 minutes 

before the scheduled end of Regular 

Trading, which is the existing deadline 

for entering a MOC, LOC, or Closing IO 

Order, and because the restriction will 

apply equally to all users of MOC, LOC, 

or Closing IO Orders. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,21 that the 

proposed rule change (SR–NYSE–2021– 

74) be, and hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.22

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–12941 Filed 6–15–22; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Delegation of Authority No. 524–2] 

Delegation of Authorities Under 

Section 102 of the Mutual Educational 

and Cultural Exchange Act of 1961 

By virtue of the authority vested in 

the Assistant Secretary of State for 

Educational and Cultural Affairs, 

including by Delegation of Authority 

No. 236–3 (August 28, 2000), and to the 

extent permitted by law, I hereby 

delegate to the Deputy Assistant 

Secretary for Private Sector Exchange 

and the Deputy Assistant Secretary for 

Professional and Cultural Exchanges the 

authorities and functions in section 102 

of the Mutual Educational and Cultural 

Exchange Act of 1961 (22 U.S.C. 2452), 

relating to the provision by grant, 

contract or otherwise for educational 

and cultural exchanges. 

Any authorities covered by this 

delegation may also be exercised by the 

Secretary, the Deputy Secretary, the 

Deputy Secretary for Management and 

Resources, the Under Secretary for 

Public Diplomacy and Public Affairs, 

and the Assistant Secretary for 

Educational and Cultural Affairs. 

This Delegation of Authority does not 

revoke or otherwise affect any other 

delegation of authority currently in 

effect. 

Any reference in this Delegation of 

Authority to any statute or delegation of 

authority shall be deemed to be a 

reference to such statute or delegation of 

authority as amended from time to time. 

This Delegation shall be published in 

the Federal Register. 

Lee A. Satterfield, 

Assistant Secretary for Educational and 

Cultural Affairs, U.S. Department of State. 

[FR Doc. 2022–12932 Filed 6–15–22; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF STATE 

[Public Notice 11757] 

Renewal of Defense Trade Advisory 

Group Charter 

ACTION: Notice. 

SUMMARY: The Department of State 

announces the renewal of the Charter 

for the Defense Trade Advisory Group 

(DTAG) for another two years. The 

DTAG advises the Department on its 

support for and regulation of defense 

trade to help ensure the foreign policy 

and national security of the United 

States continues to be protected and 

advanced, while helping to reduce 

unnecessary impediments to legitimate 

exports in order to support the defense 

requirements of U.S. friends and allies. 

It is the only Department of State 

advisory committee that addresses 

defense trade related topics. The DTAG 

will remain in existence for two years 

after the filing date of the Charter unless 

terminated sooner. The DTAG is 

authorized by Department of State 

regulations and the Federal Advisory 

Committee Act. For more information, 

contact Michael Miller, Designated 

Federal Officer, Defense Trade Advisory 

Group, and Deputy Assistant Secretary, 

Directorate of Defense Trade Controls, 

Department of State, Washington, DC 

20520, telephone: (202) 663–2861. 

Michael Miller, 

Designated Federal Officer, Defense Trade 

Advisory Group, Department of State. 

[FR Doc. 2022–12983 Filed 6–15–22; 8:45 am] 

BILLING CODE 4710–25–P 

SURFACE TRANSPORTATION BOARD 

[Docket No. FD 36620] 

OPSEU Pension Plan Trust Fund, 

Jaguar Transport Holdings, LLC, and 

Jaguar Rail Holdings, LLC— 

Continuance in Control Exemption— 

Kinston Railroad, LLC 

OPSEU Pension Plan Trust Fund 

(OPTrust), Jaguar Transport Holdings, 

LLC (JTH), and Jaguar Rail Holdings, 

LLC (JRH, and collectively with OPTrust 

and JTH, Jaguar), all noncarriers, have 

filed a verified notice of exemption 


khammond on DSKJM1Z7X2PROD with NOTICES