[Federal Register Volume 82, Number 184 (Monday, September 25, 2017)]
[Notices]
[Pages 44677-44678]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-20363]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81652; File No. SR-NYSEARCA-2017-108]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend Its Rules 
and the NYSE Arca Options Fees and Charges Schedule in Connection With 
the Name Change of Its Affiliate NYSE MKT LLC to NYSE American LLC

September 19, 2017.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that, on September 8, 2017, NYSE Arca, Inc. (the ``Exchange'' or 
``NYSE Arca'') filed with the Securities and Exchange Commission (the 
``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.
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    \1\ 15 U.S.C.78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes, in connection with the name change of its 
affiliate NYSE MKT LLC to NYSE American LLC, proposes [sic] to amend 
its rules and the NYSE Arca Options Fees and Charges schedule (the 
``Options Fee Schedule'').
    The proposed rule change is available on the Exchange's Web site 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, in connection with the name change of its affiliate 
NYSE MKT LLC (``NYSE MKT'') to NYSE American LLC (``NYSE American''), 
proposes to amend its rules and the Options Fee Schedule.\4\
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    \4\ The Exchange originally filed the proposed changes on August 
25, 2017 (SR-NYSEArca-2017-95), withdrew such changes on September 
6, 2017 and refiled on the same day (SR-NYSEArca-2017-106). SR-
NYSEArca- 2017-106 was subsequently withdrawn on September 8, 2017 
and replaced by this filing.
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Background
    On March 16, 2017, NYSE MKT filed rule changes with the Commission 
in connection with its name change to NYSE American.\5\ In addition, on 
May 19, 2017, NYSE MKT filed rule changes with the Commission 
associated with the rebranding of NYSE Amex Options, the Exchange's 
facility for trading options, to NYSE American Options.\6\ The NYSE MKT 
name change to NYSE American became operative on July 24, 2017. 
Accordingly, the Exchange proposes to amend certain of its rules and 
the Options Fee Schedule as detailed below to reflect the new name of 
its affiliate NYSE American.
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    \5\ See Securities Exchange Act Release No.80283 (March 21, 
2017), 82 FR 15244 (March 27, 2017) (SR-NYSEMKT-2017-14).
    \6\ See Securities Exchange Act Release No. 80748 (May 23, 
2017), 82 FR 24764 (May 30, 2017) (SR-NYSEMKT-2017-20).
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Proposed Rule Changes
    <bullet> The Exchange proposes to replace ``NYSE MKT'' with ``NYSE 
American'' in Rule 5.25-O, Commentary .03 (Margins); Rule 6.96-O(b) 
(Operation of Routing Broker); 5.2-E(b) (General); 5.2-E(d) (Preferred 
Stock and Similar Issues); 5.2-E(e) (Bonds and Debentures); 5.5-E(a), 
Commentary .02 and .03 (Maintenance Requirements and Delisting 
Procedures); 7.31-E(f) (Orders and Modifiers); and 7.45-E(c) (Operation 
of Routing Broker).
    <bullet> Rule 7.31-E has a notice stating that an amended version 
of the rule has been approved but is not yet operative.\7\ The notice 
includes a link to the amended version of the rule and the relevant 
approval order. The Exchange proposes to replace ``NYSE MKT'' with 
``NYSE American'' in the text of the amended but not yet operative 
version of Rule 7.31-E. Exhibit 5B sets forth the proposed revised 
text.
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    \7\ The Exchange will announce by Trader Update when the amended 
version of Rule 7.31-E will become operative.
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    <bullet> The Exchange proposes to replace ``NYSE MKT LLC'' with 
``NYSE American LLC'' in Rule 5.82-O(a) (Applicability; Definitions 
Related to ByRDs), Rule 6.96-O(b), Rule 7.37-E(d) (Order Execution and 
Routing), and Rule 7.45-E(c)(1).
Proposed Changes to the Options Fee Schedule
    <bullet> Options Fee Schedule: Under ``Co-Location Fees,'' in 
General Notes 1 and 4, the Exchange proposes to replace ``NYSE MKT 
LLC'' with ``NYSE American LLC'' and replace ``NYSE MKT'' with ``NYSE 
American.'' In addition, the Exchange proposes to replace ``NYSE Amex 
Options'' with ``NYSE American Options'' in the table in General Note 
4.
    None of the foregoing changes are substantive.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Exchange Act,\8\ in general, and with Section 
6(b)(1) \9\ 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 Exchange Act and to comply, and to enforce compliance by its 
exchange members and persons associated with its exchange members, with 
the provisions of the Exchange Act, the rules and regulations 
thereunder, and the rules of the Exchange.
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    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(1).
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    The proposed rule change is a non-substantive change and does not 
impact the governance or ownership of the Exchange. The Exchange 
believes that the proposed rule change would enable the Exchange to 
continue to be so organized as to have the capacity to carry out the 
purposes of the Exchange Act and comply and enforce compliance with the 
provisions of the Exchange Act by its members and persons associated 
with its members, because ensuring that the rules and Options Fee 
Schedule accurately reflect the name change of the Exchange's affiliate 
from NYSE MKT to NYSE American and the rebranding of NYSE Amex Options 
to NYSE

[[Page 44678]]

American Options would contribute to the orderly operation of the 
Exchange by adding clarity and transparency to its rules and fee 
schedule.
    For similar reasons, the Exchange also believes that the proposed 
rule change is consistent with Section 6(b)(5) of the Act,\10\ 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.
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    \10\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes that the proposed rule change would remove 
impediments to and perfect the mechanism of a free and open market and 
a national market system by ensuring that market participants can more 
easily navigate, understand and comply with the rules and Options Fee 
Schedule. The Exchange believes that, by ensuring that such rules and 
fee schedule accurately reflect the name change of its affiliate from 
NYSE MKT to NYSE American and the rebranding of NYSE Amex Options to 
NYSE American Options, the proposed rule change would reduce potential 
investor or market participant confusion.

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. The proposed rule change is 
not intended to address competitive issues but rather is concerned 
solely with updating the rules, and Options Fee Schedule to reflect its 
affiliate's name change from NYSE MKT to NYSE American and rebranding 
of NYSE Amex Options to NYSE American Options.

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

    The proposed rule change has become effective pursuant to Section 
19(b)(3)(A) of the Act \11\ and Rule 19b-4(f)(3) \12\ thereunder. 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 shall institute proceedings under Section 
19(b)(2)(B) \13\ of the Act to determine whether the proposed rule 
change should be approved or disapproved.
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    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(3).
    \13\ 15 U.S.C. 78s(b)(2)(B).
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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

    <bullet> Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
    <bullet> Send an email to <a href="/cdn-cgi/l/email-protection#592b2c353c743a3634343c372d2a192a3c3a773e362f"><span class="__cf_email__" data-cfemail="dfadaab3baf2bcb0b2b2bab1abac9facbabcf1b8b0a9">[email protected]</span></a>. Please include 
File Number SR-NYSEARCA-2017-108 on the subject line.

Paper Comments

    <bullet> 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-2017-108. 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 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 Web site 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 
10:00 a.m. and 3:00 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-NYSEARCA-2017-108 and should 
be submitted on or before October 16, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority. \14\
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    \14\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-20363 Filed 9-22-17; 8:45 am]
 BILLING CODE 8011-01-P


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