82 FR 15244 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Organizational Documents, Company Guide, Price List, Fee Schedules, Independence Policy and Rules To Change the Name of the Exchange to NYSE American LLC

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 57 (March 27, 2017)

Page Range		15244-15247
FR Document		2017-05920
Federal Register, Volume 82 Issue 57 (Monday, March 27, 2017)
[Federal Register Volume 82, Number 57 (Monday, March 27, 2017)]
[Notices]
[Pages 15244-15247]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-05920]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80283; File No. SR-NYSEMKT-2017-14]


Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change To Amend Its 
Organizational Documents, Company Guide, Price List, Fee Schedules, 
Independence Policy and Rules To Change the Name of the Exchange to 
NYSE American LLC

March 21, 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 March 16, 2017 NYSE MKT LLC (the ``Exchange'' or ``NYSE 
MKT'') 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 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 its name change to NYSE 
American LLC, to amend certain organizational documents, the NYSE MKT 
LLC Company Guide (``Company Guide''), the NYSE MKT Equities Price List 
(``Price List''), the NYSE Amex Options Fee Schedule (``Fee 
Schedule''), the NYSE MKT LLC Equities Proprietary Market Data Fees 
(``Market Data Fees''), the Independence Policy of the Board of 
Directors (``Independence Policy''), and rules of the Exchange to 
reflect that name change. The proposed 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

[[Page 15245]]

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
    NYSE MKT proposes, in connection with its name change to NYSE 
American LLC (``NYSE American''), to amend certain organizational 
documents, the Company Guide, Price List, Fee Schedule, Market Data 
Fees, Independence Policy, and rules of the Exchange to reflect that 
name change.
Name Change of the Exchange
    In 2008, NYSE Euronext acquired the American Stock Exchange LLC 
(``Amex''), as a result of which the Exchange, as the successor entity 
to Amex, became a wholly owned subsidiary of NYSE Group, Inc. At that 
time, the Exchange was named ``NYSE Alternext US LLC.'' \4\ In 2009, 
the name of the Exchange was changed to ``NYSE Amex LLC'' \5\ and in 
2012 it was changed to ``NYSE MKT LLC.'' \6\ The Exchange has now 
determined that for marketing purposes it would be desirable to change 
the name of the Exchange to ``NYSE American LLC.''
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    \4\ See Securities Exchange Act Release No. 58673 (September 29, 
2008), 73 FR 57707 (October 3, 2008) (SR-Amex-2008-62).
    \5\ See Securities Exchange Act Release No. 59575 (March 13, 
2009), 74 FR 11803 (March 19, 2009) (SR-NYSEALTR-2009-24).
    \6\ See Securities Exchange Act Release No. 67037 (May 21, 
2012), 77 FR 31415 (May 25, 2012) (SR-NYSEAmex-2012-32).
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    In connection with the name change, the Exchange proposes to amend 
the following documents as described below:
     Certificate of Formation: The Exchange proposes to replace 
``NYSE MKT LLC'' with ``NYSE American LLC'' in number 1 of the 
certificate of formation and to make conforming changes to the title.
     Tenth Amended and Restated Operating Agreement of NYSE MKT 
LLC: The Exchange proposes to replace ``NYSE MKT LLC'' with ``NYSE 
American LLC'' in Article I, Section 1.01 (Name) and to replace ``NYSE 
MKT DCRC'' with ``NYSE American DCRC'' in Article II, Section 2.03 
(Board). The Exchange also proposes to make conforming changes to the 
title, preamble, recitals, and signature line.
     Company Guide: The Exchange proposes to replace ``NYSE MKT 
LLC'' with ``NYSE American LLC'' in the title, Section 211(c) (Original 
Listing Application--General) and Section 350 (Cancellation Notice), 
and in the Appendix forms for an Initial Public Offering, Common Stock, 
and Listing Agreement.
     Price List: The Exchange proposes to replace ``NYSE MKT'' 
with ``NYSE American'' in the title and throughout the Price List. 
Under ``Co-Location Fees,'' the Exchange proposes to replace ``NYSE MKT 
Equities Price List'' with ``NYSE American Equities Price List'' and 
``NYSE MKT Options Fee Schedule'' with ``NYSE American Options Fee 
Schedule.'' Under ``Listing Fees,'' the Exchange proposes to replace 
``NYSE MKT Company Guide'' with ``NYSE American Company Guide.''
     Fee Schedule: The Exchange proposes to replace ``NYSE MKT 
LLC'' with ``NYSE American LLC'' in the title. Additionally, the 
Exchange proposes to replace all references to ``NYSE MKT'' with ``NYSE 
American'' in ``Section V. Technology & System Access Fees--Co-Location 
Fees.''
     Market Data Fees: The Exchange proposes to replace ``NYSE 
MKT LLC'' with ``NYSE American LLC'' in the title. Additionally, the 
Exchange proposes to replace all references to ``NYSE MKT'' with ``NYSE 
American'' in the product names and footnotes 1, 2, and 4.
     Independence Policy: The Exchange proposes to replace 
``NYSE MKT LLC'' with ``NYSE American LLC'' throughout the Independence 
Policy.\7\ Additionally, the Exchange proposes to replace ``[Insert 
name of relevant NYSE U.S. Regulated Subsidiary]'' with ``NYSE American 
LLC.'' The text being replaced was used in prior filings because 
several entities used the same Independence Policy.\8\
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    \7\ In addition, the Exchange proposes to delete footnote 2 of 
the Independence Policy, which has an obsolete reference to NYSE 
Regulation, Inc. (``NYSE Regulation''). NYSE Regulation and NYSE 
Market (DE), Inc. (``NYSE Market (DE)'') were previously parties to 
a Delegation Agreement whereby the New York Stock Exchange LLC 
delegated certain regulatory functions to NYSE Regulation and 
certain market functions to NYSE Market (DE) (``Delegation 
Agreement''). The Delegation Agreement was terminated when the New 
York Stock Exchange LLC re-integrated its regulatory and market 
functions. As a result, the two entities ceased being regulated 
subsidiaries, and NYSE Regulation was merged out of existence. See 
Securities Exchange Act Release No. 75991 (September 28, 2015), 80 
FR 59837 (October 10, 2015) (SR-NYSE-2015-27).
    \8\ Prior to the termination of the Delegation Agreement, the 
same Independence Policy applied to the Exchange, the New York Stock 
Exchange LLC, NYSE Market (DE), and NYSE Regulation. See Securities 
Exchange Act Release Nos. 72156 (May 13, 2014), 79 FR 28782 (May 19, 
2014) (SR-NYSEMKT-2014-41); 67564 (August 1, 2012), 77 FR 47161 
(August 7, 2012) (SR-NYSE-2012-17; SR-NYSEArca-2012-59; SR-NYSEMKT-
2012-07).
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    In addition, the Exchange proposes to amend its rules as follows:
     The Exchange proposes to replace ``NYSE MKT LLC'' with 
``NYSE American LLC'' in definitions 11 (``The Exchange'') and 37 
(``Company Guide''); Rule 341, Commentary .02 and .08 (Approval of 
Registered Employees and Officers); Rule 1--Equities (The Exchange and 
Related Entities); Rule 37--Equities (Visitors); Rule 98--Equities 
(c)(6) (Operation of a DMM Unit); Rule 227--Equities Forms 6(a), 7(a), 
and 12(a) (Depository Eligibility); Rule 497--Equities (a)(3) 
(Additional Requirements for Listed Securities Issued by ICE or its 
Affiliates); and Rule 900.2NY(45) and (47) (Definitions).
     The Exchange proposes to replace ``NYSE MKT LLC'' with 
``the Exchange'' in Rule 341, Commentary .08 (Approval of Registered 
Employees and Officers).
     The Exchange proposes to replace ``NYSE MKT Bonds'' with 
``NYSE American Bonds'' in Rule 51--Equities (a), Supplementary 
Material .20 (Hours for Business); Rule 72--Equities, Supplementary 
Material .40 (Priority of Bids and Offers and Allocation of 
Executions); Rule 86--Equities (NYSE MKT Bonds); Rule 119--Equities 
(Change in Basis from ``And Interest'' to ``Flat''); and Rule 123B--
Equities, Supplementary Material .30 (Exchange Automated Order Routing 
System).
     In Rule 86--Equities (b)(2) and (c), the Exchange proposes 
to replace ``NYSE MKT Bonds Limit Order'' with ``NYSE American Bonds 
Limit Order''; ``NYSE MKT Bonds Reserve Order'' with ``NYSE American 
Bonds Reserve Order''; ``NYSE MKT Bonds Good `Til Cancelled Order'' 
with NYSE American Bonds Good `Til Cancelled Order''; and ``NYSE MKT 
Bonds Day Order'' with ``NYSE American Bonds Day Order.''
     The Exchange proposes to replace ``NYSE MKT Company 
Guide'' with ``Company Guide'' in Rule 2210--Equities (c)(7)(N) 
(Communications with the Public).
     The Exchange proposes to replace ``NYSE MKT'' with ``NYSE 
American'' in Rule 3170--Equities (a)(3) (Tape Recording of Registered 
Persons by Certain Firms).
     In the Trading of Options Contracts portion of the 
rulebook, the Exchange proposes to replace ``NYSE MKT'' with 
``Exchange'' in Section 15 (Flexible Exchange (``FLEX'') Options), Rule 
900G(b) (Applicability and Definitions); Rule 903G(b)(4) and (5) (Terms 
of FLEX Options); and Rule 975NY(k)(3)(A) (Nullification and Adjustment 
of Options Transactions including Obvious Errors).

[[Page 15246]]

    None of the foregoing changes are substantive.\9\ The name change 
and the above-listed changes would become operative upon the 
effectiveness of an amendment to the Exchange's Certificate of 
Formation, which is expected to be no later than June 30, 2017. The 
Exchange will announce the name change via Trader Update.
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    \9\ The Exchange will submit subsequent rule filings as 
necessary to make any technical corrections to proposed rule changes 
that are pending as of the date of submission of this filing and 
approved by the Commission thereafter.
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2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Exchange Act \10\ in general, and with Section 
6(b)(1) \11\ 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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    \10\ 15 U.S.C. 78f(b).
    \11\ 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 Exchange's governing 
documents, Company Guide, Price List, Fee Schedule, Market Data Fees, 
Independence Policy and rulebook accurately reflect the name of the 
Exchange would contribute to the orderly operation of the Exchange by 
adding clarity and transparency to such documents and rules.
    For similar reasons, the Exchange also believes that the proposed 
rule change is consistent with Section 6(b)(5) of the Act,\12\ 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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    \12\ 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 Exchange's governing 
documents, Company Guide, Price List, Fee Schedule, Market Data Fees, 
Independence Policy and rulebook. The Exchange believes that, by 
ensuring that such documents and rulebook accurately reflect the name 
of the Exchange, the proposed rule change would reduce potential 
investor or market participant confusion.
    The Exchange believes that the proposed changes to replace 
``[Insert name of relevant NYSE U.S. Regulated Subsidiary]'' with 
``NYSE American LLC'' would contribute to the orderly operation of the 
Exchange by adding clarity and transparency to such document.
    Further, the Exchange believes that the proposed deletion of 
footnote two of the Independence Policy would remove impediments to, 
and perfect the mechanism of a free and open market and a national 
market system and, in general, protect investors and the public 
interest because the change would eliminate an obsolete reference to 
NYSE Regulation, thereby reducing potential confusion. Market 
participants and investors would not be harmed and in fact could 
benefit from the increased clarity and transparency in the Independence 
Policy, ensuring that market participants could more easily understand 
the Independence Policy.

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 Exchange's organizational documents, Company 
guide, Price List, Fee Schedule, Market Data Fees, Independence Policy 
and rules to reflect its name change.

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 Ac t\13\ and Rule 19b-4(f)(3) \14\ thereunder in 
that the proposed rule change is concerned solely with the 
administration of the Exchange.
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    \13\ 15 U.S.C. 78s(b)(3)(A).
    \14\ 17 CFR 240.19b-4(f)(3).
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    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may 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) \15\ of the Act to determine whether the proposed rule 
change should be approved or disapproved.
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    \15\ 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

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to rule-comments@sec.gov. Please include 
File Number SR-NYSEMKT-2017-14 on the subject line.

Paper Comments

     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-NYSEMKT-2017-14. 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

[[Page 15247]]

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-NYSEMKT-2017-14 and should be submitted on or before 
April 17, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\16\
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    \16\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-05920 Filed 3-24-17; 8:45 am]
 BILLING CODE 8011-01-P
15244 Federal Register / Vol. 82, No. 57 / Monday, March 27, 2017 / Notices

3. Enhance the quality, utility, and and Technology (NSET) Subcommittee SECURITIES AND EXCHANGE
clarity of the information to be of the Committee on Technology, COMMISSION
collected; and National Science and Technology
[Release No. 34–80283; File No. SR–
4. Minimize the burden of the Council (NSTC), will hold one or more NYSEMKT–2017–14]
collection of information on those who workshops to engage stakeholders and
are to respond, including through the facilitate discussion on key Self-Regulatory Organizations; NYSE
use of appropriate automated, nanotechnology matters. Topics covered MKT LLC; Notice of Filing and
electronic, mechanical, or other may include nanosensor manufacturing; Immediate Effectiveness of Proposed
technological collection techniques or environmental, health, and safety Rule Change To Amend Its
other forms of information technology, issues; converging technologies; or other Organizational Documents, Company
e.g., permitting electronic submissions areas of potential interest to the Guide, Price List, Fee Schedules,
of responses. Independence Policy and Rules To
nanotechnology community.
The 1203 series was commonly Change the Name of the Exchange to
referred to as the ‘‘Qualifications and DATES: The NNCO will hold one or more NYSE American LLC
Availability Form C.’’ OPM re-titled the workshops between the publication of
series as ‘‘Occupational Questionnaire’’ this Notice and December 31, 2017. March 21, 2017.
to fit a more generic need. OPM uses Pursuant to Section 19(b)(1) 1 of the
ADDRESSES: For information about Securities Exchange Act of 1934 (the
this form to carry out its responsibility upcoming workshops, please visit
for open competitive examining for ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
http://www.nano.gov/events/meetings- notice is hereby given that, on March
admission to the competitive service in
workshops. 16, 2017 NYSE MKT LLC (the
accordance with Section 3304, Title 5,
United States Code. One change has ‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with
FOR FURTHER INFORMATION CONTACT: For the Securities and Exchange
been made to the form under Section 14, information regarding this Notice,
Veterans’ Preference. The addition of Commission (the ‘‘Commission’’) the
please contact Jewel Beamon at National proposed rule change as described in
Sole Survivorship Preference was added Nanotechnology Coordination Office, by
to reflect the amended eligibility Items I, II, and III below, which Items
telephone (703–292–8626) or email have been prepared by the self-
categories for veterans’ preference per (jbeamon@nnco.nano.gov). Additional
Public Law 110–317, the Hubbard Act. regulatory organization. The
information about each workshop will Commission is publishing this notice to
Subparagraph (H) established the new
be posted on www.nano.gov. solicit comments on the proposed rule
category for veterans released or
discharged from a period of active duty SUPPLEMENTARY INFORMATION: change from interested persons.
from the armed forces, after August 29, Registration: Due to space limitations, I. Self-Regulatory Organization’s
2008, by reason of a ‘‘sole survivorship pre-registration for workshops is Statement of the Terms of Substance of
discharge.’’ required. Registration is on a first-come, the Proposed Rule Change
Analysis first-served basis, and will be available The Exchange proposes, in
Agency: Automated Systems on www.nano.gov. Registration for the connection with its name change to
Management Group, Office of Personnel workshops will be capped as space NYSE American LLC, to amend certain
Management. limitations dictate. Individuals planning organizational documents, the NYSE
Title: Occupational Questionnaire, to attend a workshop can find MKT LLC Company Guide (‘‘Company
OPM Form 1203–FX. registration information at http:// Guide’’), the NYSE MKT Equities Price
OMB Number: 3260–0040. www.nano.gov/meetings-workshops. List (‘‘Price List’’), the NYSE Amex
Frequency: On occasion. Written notices of participation by email Options Fee Schedule (‘‘Fee Schedule’’),
Affected Public: Individuals and should be sent to info@nnco.nano.gov or the NYSE MKT LLC Equities Proprietary
households. mailed to Jewel Beamon, 4201 Wilson Market Data Fees (‘‘Market Data Fees’’),
Number of Respondents: Blvd., Stafford II, Suite 405, Arlington, the Independence Policy of the Board of
approximately 11,400,000. VA 22230. Directors (‘‘Independence Policy’’), and
Estimated Time per Respondent: 40 rules of the Exchange to reflect that
Meeting Accomodations: Individuals name change. The proposed change is
minutes. requiring special accommodation to
Total Burden Hours: 7,600,000 hours. available on the Exchange’s Web site at
access any of these public events should www.nyse.com, at the principal office of
U.S. Office of Personnel Management. contact Jewel Beamon (telephone 703– the Exchange, and at the Commission’s
Kathleen M. McGettigan, 292–8626) at least ten business days Public Reference Room.
Acting Director. prior to the meeting so that appropriate
II. Self-Regulatory Organization’s
[FR Doc. 2017–05957 Filed 3–24–17; 8:45 am] arrangements can be made.
Statement of the Purpose of, and
BILLING CODE 6325–43–P
Ted Wackler, Statutory Basis for, the Proposed Rule
Deputy Chief of Staff and Assistant Director. Change
OFFICE OF SCIENCE AND [FR Doc. 2017–05913 Filed 3–24–17; 8:45 am] In its filing with the Commission, the
TECHNOLOGY POLICY BILLING CODE 3270–F7–P self-regulatory organization included
asabaliauskas on DSK3SPTVN1PROD with NOTICES

statements concerning the purpose of,
National Nanotechnology Initiative and basis for, the proposed rule change
Workshops and discussed any comments it received
on the proposed rule change. The text
ACTION: Notice of public meetings. of those statements may be examined at
SUMMARY: The National Nanotechnology 1 15 U.S.C. 78s(b)(1).
Coordination Office (NNCO), on behalf 2 15 U.S.C. 78a.
of the Nanoscale Science, Engineering, 3 17 CFR 240.19b–4.

VerDate Sep<11>2014 18:02 Mar 24, 2017 Jkt 241001 PO 00000 Frm 00066 Fmt 4703 Sfmt 4703 E:\FR\FM\27MRN1.SGM 27MRN1
Federal Register / Vol. 82, No. 57 / Monday, March 27, 2017 / Notices 15245

the places specified in Item IV below. Section 211(c) (Original Listing In addition, the Exchange proposes to
The Exchange has prepared summaries, Application—General) and Section 350 amend its rules as follows:
set forth in sections A, B, and C below, (Cancellation Notice), and in the • The Exchange proposes to replace
of the most significant parts of such Appendix forms for an Initial Public ‘‘NYSE MKT LLC’’ with ‘‘NYSE
statements. Offering, Common Stock, and Listing American LLC’’ in definitions 11 (‘‘The
A. Self-Regulatory Organization’s Agreement. Exchange’’) and 37 (‘‘Company Guide’’);
Statement of the Purpose of, and the • Price List: The Exchange proposes Rule 341, Commentary .02 and .08
Statutory Basis for, the Proposed Rule to replace ‘‘NYSE MKT’’ with ‘‘NYSE (Approval of Registered Employees and
Change American’’ in the title and throughout Officers); Rule 1—Equities (The
the Price List. Under ‘‘Co-Location Exchange and Related Entities); Rule
1. Purpose Fees,’’ the Exchange proposes to replace 37—Equities (Visitors); Rule 98—
NYSE MKT proposes, in connection ‘‘NYSE MKT Equities Price List’’ with Equities (c)(6) (Operation of a DMM
with its name change to NYSE ‘‘NYSE American Equities Price List’’ Unit); Rule 227—Equities Forms 6(a),
American LLC (‘‘NYSE American’’), to and ‘‘NYSE MKT Options Fee 7(a), and 12(a) (Depository Eligibility);
amend certain organizational Schedule’’ with ‘‘NYSE American Rule 497—Equities (a)(3) (Additional
documents, the Company Guide, Price Options Fee Schedule.’’ Under ‘‘Listing Requirements for Listed Securities
List, Fee Schedule, Market Data Fees, Fees,’’ the Exchange proposes to replace Issued by ICE or its Affiliates); and Rule
Independence Policy, and rules of the ‘‘NYSE MKT Company Guide’’ with 900.2NY(45) and (47) (Definitions).
Exchange to reflect that name change. ‘‘NYSE American Company Guide.’’ • The Exchange proposes to replace
• Fee Schedule: The Exchange ‘‘NYSE MKT LLC’’ with ‘‘the Exchange’’
Name Change of the Exchange proposes to replace ‘‘NYSE MKT LLC’’ in Rule 341, Commentary .08 (Approval
In 2008, NYSE Euronext acquired the with ‘‘NYSE American LLC’’ in the title. of Registered Employees and Officers).
American Stock Exchange LLC Additionally, the Exchange proposes to • The Exchange proposes to replace
(‘‘Amex’’), as a result of which the replace all references to ‘‘NYSE MKT’’ ‘‘NYSE MKT Bonds’’ with ‘‘NYSE
Exchange, as the successor entity to with ‘‘NYSE American’’ in ‘‘Section V. American Bonds’’ in Rule 51—Equities
Amex, became a wholly owned Technology & System Access Fees—Co- (a), Supplementary Material .20 (Hours
subsidiary of NYSE Group, Inc. At that Location Fees.’’ for Business); Rule 72—Equities,
time, the Exchange was named ‘‘NYSE • Market Data Fees: The Exchange Supplementary Material .40 (Priority of
Alternext US LLC.’’ 4 In 2009, the name proposes to replace ‘‘NYSE MKT LLC’’ Bids and Offers and Allocation of
of the Exchange was changed to ‘‘NYSE with ‘‘NYSE American LLC’’ in the title. Executions); Rule 86—Equities (NYSE
Amex LLC’’ 5 and in 2012 it was Additionally, the Exchange proposes to MKT Bonds); Rule 119—Equities
changed to ‘‘NYSE MKT LLC.’’ 6 The replace all references to ‘‘NYSE MKT’’ (Change in Basis from ‘‘And Interest’’ to
Exchange has now determined that for with ‘‘NYSE American’’ in the product ‘‘Flat’’); and Rule 123B—Equities,
marketing purposes it would be names and footnotes 1, 2, and 4. Supplementary Material .30 (Exchange
desirable to change the name of the • Independence Policy: The Exchange Automated Order Routing System).
Exchange to ‘‘NYSE American LLC.’’ proposes to replace ‘‘NYSE MKT LLC’’
In connection with the name change, • In Rule 86—Equities (b)(2) and (c),
with ‘‘NYSE American LLC’’ throughout
the Exchange proposes to amend the the Exchange proposes to replace
the Independence Policy.7 Additionally,
following documents as described ‘‘NYSE MKT Bonds Limit Order’’ with
the Exchange proposes to replace
below: ‘‘NYSE American Bonds Limit Order’’;
‘‘[Insert name of relevant NYSE U.S.
• Certificate of Formation: The Regulated Subsidiary]’’ with ‘‘NYSE
‘‘NYSE MKT Bonds Reserve Order’’
Exchange proposes to replace ‘‘NYSE with ‘‘NYSE American Bonds Reserve
American LLC.’’ The text being replaced
MKT LLC’’ with ‘‘NYSE American LLC’’ Order’’; ‘‘NYSE MKT Bonds Good ‘Til
was used in prior filings because several
in number 1 of the certificate of Cancelled Order’’ with NYSE American
entities used the same Independence
formation and to make conforming Bonds Good ‘Til Cancelled Order’’; and
Policy.8
changes to the title. ‘‘NYSE MKT Bonds Day Order’’ with
• Tenth Amended and Restated 7 In addition, the Exchange proposes to delete
‘‘NYSE American Bonds Day Order.’’
Operating Agreement of NYSE MKT footnote 2 of the Independence Policy, which has • The Exchange proposes to replace
LLC: The Exchange proposes to replace an obsolete reference to NYSE Regulation, Inc. ‘‘NYSE MKT Company Guide’’ with
‘‘NYSE MKT LLC’’ with ‘‘NYSE (‘‘NYSE Regulation’’). NYSE Regulation and NYSE ‘‘Company Guide’’ in Rule 2210—
American LLC’’ in Article I, Section Market (DE), Inc. (‘‘NYSE Market (DE)’’) were
previously parties to a Delegation Agreement
Equities (c)(7)(N) (Communications with
1.01 (Name) and to replace ‘‘NYSE MKT whereby the New York Stock Exchange LLC the Public).
DCRC’’ with ‘‘NYSE American DCRC’’ delegated certain regulatory functions to NYSE • The Exchange proposes to replace
in Article II, Section 2.03 (Board). The Regulation and certain market functions to NYSE ‘‘NYSE MKT’’ with ‘‘NYSE American’’
Exchange also proposes to make Market (DE) (‘‘Delegation Agreement’’). The
Delegation Agreement was terminated when the in Rule 3170—Equities (a)(3) (Tape
conforming changes to the title, New York Stock Exchange LLC re-integrated its Recording of Registered Persons by
preamble, recitals, and signature line. regulatory and market functions. As a result, the Certain Firms).
• Company Guide: The Exchange two entities ceased being regulated subsidiaries,
and NYSE Regulation was merged out of existence. • In the Trading of Options Contracts
proposes to replace ‘‘NYSE MKT LLC’’
See Securities Exchange Act Release No. 75991 portion of the rulebook, the Exchange
with ‘‘NYSE American LLC’’ in the title, (September 28, 2015), 80 FR 59837 (October 10, proposes to replace ‘‘NYSE MKT’’ with
asabaliauskas on DSK3SPTVN1PROD with NOTICES

2015) (SR–NYSE–2015–27). ‘‘Exchange’’ in Section 15 (Flexible
4 See Securities Exchange Act Release No. 58673 8 Prior to the termination of the Delegation
(September 29, 2008), 73 FR 57707 (October 3, Agreement, the same Independence Policy applied
Exchange (‘‘FLEX’’) Options), Rule
2008) (SR–Amex–2008–62). to the Exchange, the New York Stock Exchange 900G(b) (Applicability and Definitions);
5 See Securities Exchange Act Release No. 59575
LLC, NYSE Market (DE), and NYSE Regulation. See Rule 903G(b)(4) and (5) (Terms of FLEX
(March 13, 2009), 74 FR 11803 (March 19, 2009) Securities Exchange Act Release Nos. 72156 (May Options); and Rule 975NY(k)(3)(A)
(SR–NYSEALTR–2009–24). 13, 2014), 79 FR 28782 (May 19, 2014) (SR–
6 See Securities Exchange Act Release No. 67037 NYSEMKT–2014–41); 67564 (August 1, 2012), 77
(Nullification and Adjustment of
(May 21, 2012), 77 FR 31415 (May 25, 2012) (SR– FR 47161 (August 7, 2012) (SR–NYSE–2012–17; Options Transactions including Obvious
NYSEAmex–2012–32). SR–NYSEArca–2012–59; SR–NYSEMKT–2012–07). Errors).

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15246 Federal Register / Vol. 82, No. 57 / Monday, March 27, 2017 / Notices

None of the foregoing changes are The Exchange believes that the III. Date of Effectiveness of the
substantive.9 The name change and the proposed rule change would remove Proposed Rule Change and Timing for
above-listed changes would become impediments to and perfect the Commission Action
operative upon the effectiveness of an mechanism of a free and open market The proposed rule change has become
amendment to the Exchange’s and a national market system by effective pursuant to Section 19(b)(3)(A)
Certificate of Formation, which is ensuring that market participants can of the Ac t13 and Rule 19b–4(f)(3) 14
expected to be no later than June 30, more easily navigate, understand and thereunder in that the proposed rule
2017. The Exchange will announce the comply with the Exchange’s governing change is concerned solely with the
name change via Trader Update. documents, Company Guide, Price List, administration of the Exchange.
2. Statutory Basis Fee Schedule, Market Data Fees, At any time within 60 days of the
Independence Policy and rulebook. The filing of the proposed rule change, the
The Exchange believes that the Exchange believes that, by ensuring that Commission summarily may suspend
proposed rule change is consistent with such documents and rulebook such rule change if it appears to the
Section 6(b) of the Exchange Act 10 in accurately reflect the name of the Commission that such action is
general, and with Section 6(b)(1) 11 in Exchange, the proposed rule change necessary or appropriate in the public
particular, in that it enables the would reduce potential investor or interest, for the protection of investors,
Exchange to be so organized as to have market participant confusion. or otherwise in furtherance of the
the capacity to be able to carry out the purposes of the Act. If the Commission
purposes of the Exchange Act and to The Exchange believes that the
proposed changes to replace ‘‘[Insert takes such action, the Commission shall
comply, and to enforce compliance by institute proceedings under Section
its exchange members and persons name of relevant NYSE U.S. Regulated
19(b)(2)(B) 15 of the Act to determine
associated with its exchange members, Subsidiary]’’ with ‘‘NYSE American
whether the proposed rule change
with the provisions of the Exchange Act, LLC’’ would contribute to the orderly
should be approved or disapproved.
the rules and regulations thereunder, operation of the Exchange by adding
and the rules of the Exchange. clarity and transparency to such IV. Solicitation of Comments
The proposed rule change is a non- document. Interested persons are invited to
substantive change and does not impact Further, the Exchange believes that submit written data, views, and
the governance or ownership of the the proposed deletion of footnote two of arguments concerning the foregoing,
Exchange. The Exchange believes that the Independence Policy would remove including whether the proposed rule
the proposed rule change would enable impediments to, and perfect the change is consistent with the Act.
the Exchange to continue to be so mechanism of a free and open market Comments may be submitted by any of
organized as to have the capacity to and a national market system and, in the following methods:
carry out the purposes of the Exchange general, protect investors and the public Electronic Comments
Act and comply and enforce compliance interest because the change would
with the provisions of the Exchange Act eliminate an obsolete reference to NYSE • Use the Commission’s Internet
by its members and persons associated comment form (http://www.sec.gov/
Regulation, thereby reducing potential
with its members, because ensuring that rules/sro.shtml); or
confusion. Market participants and • Send an email to rule-comments@
the Exchange’s governing documents, investors would not be harmed and in
Company Guide, Price List, Fee sec.gov. Please include File Number SR–
fact could benefit from the increased NYSEMKT–2017–14 on the subject line.
Schedule, Market Data Fees, clarity and transparency in the
Independence Policy and rulebook Independence Policy, ensuring that Paper Comments
accurately reflect the name of the market participants could more easily • Send paper comments in triplicate
Exchange would contribute to the understand the Independence Policy. to Secretary, Securities and Exchange
orderly operation of the Exchange by Commission, 100 F Street NE.,
adding clarity and transparency to such B. Self-Regulatory Organization’s
Washington, DC 20549–1090.
documents and rules. Statement on Burden on Competition All submissions should refer to File
For similar reasons, the Exchange also Number SR–NYSEMKT–2017–14. This
The Exchange does not believe that
believes that the proposed rule change file number should be included on the
the proposed rule change will impose
is consistent with Section 6(b)(5) of the subject line if email is used. To help the
any burden on competition that is not
Act,12 in that it is designed to prevent Commission process and review your
necessary or appropriate in furtherance
fraudulent and manipulative acts and comments more efficiently, please use
practices, to promote just and equitable of the purposes of the Act. The
proposed rule change is not intended to only one method. The Commission will
principles of trade, to foster cooperation post all comments on the Commission’s
and coordination with persons engaged address competitive issues but rather is
concerned solely with updating the Internet Web site (http://www.sec.gov/
in facilitating transactions in securities, rules/sro.shtml). Copies of the
to remove impediments to and perfect Exchange’s organizational documents,
Company guide, Price List, Fee submission, all subsequent
the mechanism of a free and open amendments, all written statements
market and a national market system Schedule, Market Data Fees,
Independence Policy and rules to reflect with respect to the proposed rule
and, in general, to protect investors and change that are filed with the
the public interest. its name change.
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Commission, and all written
C. Self-Regulatory Organization’s communications relating to the
9 The Exchange will submit subsequent rule Statement on Comments on the proposed rule change between the
filings as necessary to make any technical Proposed Rule Change Received From
corrections to proposed rule changes that are
Commission and any person, other than
pending as of the date of submission of this filing Members, Participants, or Others those that may be withheld from the
and approved by the Commission thereafter.
10 15 U.S.C. 78f(b). No written comments were solicited 13 15 U.S.C. 78s(b)(3)(A).
11 15 U.S.C. 78f(b)(1). or received with respect to the proposed 14 17 CFR 240.19b–4(f)(3).
12 15 U.S.C. 78f(b)(5). rule change. 15 15 U.S.C. 78s(b)(2)(B).

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Document Created: 2017-03-25 00:21:19
Document Modified: 2017-03-25 00:21:19
Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		82 FR 15244