Document ID: SEC-2009-0370-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Alternext US LLC
Posted Date: 2009-03-19T04:00Z

[Federal Register: March 19, 2009 (Volume 74, Number 52)]
[Notices]               
[Page 11803-11804]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr19mr09-127]                         

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

[[Page 11804]]

interest, for the protection of investors, or otherwise in furtherance 
of the purposes of the Act.
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    \7\ 15 U.S.C. 78s(b)(3)(A).
    \8\ 17 CFR 240.19b-4(f)(3).
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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

     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-NYSEALTR-2009-24 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-NYSEALTR-2009-24. 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, DC 20549, on official business days between the hours 
of 10 a.m. and 3 p.m. Copies of such filing also will be available for 
inspection and copying at the principal office of NYSEALTR. 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-NYSEALTR-2009-24 and should 
be submitted on or before April 9, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-5979 Filed 3-18-09; 8:45 am]

BILLING CODE 8011-01-P