Document ID: SEC-2014-0452-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE MKT LLC
Posted Date: 2014-03-20T04:00Z

[Federal Register Volume 79, Number 54 (Thursday, March 20, 2014)]
[Notices]
[Page 15620]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-06125]

[[Page 15620]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-71728; File No. SR-NYSEMKT-2014-08]

Self-Regulatory Organizations; NYSE MKT LLC; Order Approving 
Proposed Rule Change, as Modified by Amendment No. 1, Amending Various 
Sections of Both the Limited Liability Company Agreement of NYSE Amex 
Options LLC Dated as of June 29, 2011 and the Members Agreement Dated 
as of June 29, 2011 By and Among the Company, NYSE MKT, NYSE Euronext, 
Banc of America Strategic Investments Corporation, Barclays Electronic 
Commerce Holdings Inc., Citadel Securities LLC, Citigroup Financial 
Strategies, Inc., Goldman, Sachs & Co., Datek Online Management Corp. 
and UBS Americas Inc. in Order To Make Certain Technical Changes Within 
the Aforementioned Agreements

March 14, 2014.
    On January 14, 2014, NYSE MKT LLC (``NYSE MKT'' 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 various sections of both the Limited Liability Company Agreement 
of NYSE Amex Options LLC (``Company'') dated as of June 29, 2011 (``LLC 
Agreement'') and the Members Agreement dated as of June 29, 2011 by and 
among the Company, NYSE MKT, NYSE Euronext, Banc of America Strategic 
Investments Corporation, Barclays Electronic Commerce Holdings Inc., 
Citadel Securities LLC, Citigroup Financial Strategies, Inc., Goldman, 
Sachs & Co., Datek Online Management Corp. and UBS Americas Inc. 
(collectively, excluding the Company, NYSE MKT and NYSE Euronext, the 
``Founding Firms'') (``Members Agreement'') in order to make certain 
technical modifications and clarifications to certain provisions of the 
LLC Agreement and the Members Agreement. The proposed rule change was 
published for comment in the Federal Register on January 31, 2014.\3\ 
The Commission received no comments on the proposal. On March 12, 2014, 
the Exchange filed Amendment No. 1 to the proposed rule change.\4\ This 
order approves the proposed rule change as modified by Amendment No. 1.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 71408 (January 27, 
2014), 79 FR 5481 (``Notice'').
    \4\ Amendment No. 1 made three non-substantive corrections to 
the rule text marking in Exhibit 5 of the proposal. Because 
Amendment No. 1 is technical in nature, the Commission is not 
required to publish it for public comment.
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    After careful review, 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 \5\ 
and, in particular, the requirements of Sections 6(b)(1) and 6(b)(5) of 
the Act.\6\ The proposal makes certain technical modifications and 
clarifications to certain provisions of the LLC Agreement and the 
Members Agreement, as well as several typographical corrections. The 
Commission notes that it previously found the LLC Agreement and the 
Members Agreement to be consistent with the Act, and in particular 
Sections 6(b)(1) and 6(b)(5),\7\ and that the proposed rule change does 
not substantively change the relevant provisions of such agreements.\8\
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    \5\ 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).
    \6\ 15 U.S.C. 78f(b)(1) and 78f(b)(5).
    \7\ See Securities Exchange Act Release No. 64742 (June 24, 
2011), 76 FR 38436 (June 30, 2011) (SR-NYSEAmex-2011-18). See also 
Securities Exchange Act Release No. 67902 (September 21, 2012), 77 
FR 59423 (September 27, 2012) (SR-NYSEMKT-2012-23).
    \8\ The Commission also notes that the Exchange represented in 
its proposal that the technical modifications made by the proposed 
rule change are not intended to substantively change the relevant 
provisions of the LLC Agreement or the Members Agreement, but only 
to ensure that such agreements clearly reflect the original 
intentions of the parties to those agreements. See Notice, supra 
note 3, 79 FR 5482 (January 31, 2014).
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    For the foregoing reasons, the Commission believes that the 
proposed rule change is consistent with the Act.
    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\9\ that the proposed rule change (SR-NYSEMKT-2014-08), as modified 
by Amendment No. 1, be, and it hereby is, approved.
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    \9\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-06125 Filed 3-19-14; 8:45 am]
BILLING CODE 8011-01-P