82 FR 37969 - Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change in Connection With Its Recent Name Change From NYSE MKT LLC to NYSE American LLC and the Related Rebranding of NYSE Amex Options to NYSE American Options
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 155 (August 14, 2017)
Federal Register Volume 82, Issue 155 (August 14, 2017)
| Page Range | 37969-37971 | |
| FR Document | 2017-17042 |
[Federal Register Volume 82, Number 155 (Monday, August 14, 2017)] [Notices] [Pages 37969-37971] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-17042] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-81337; File No. SR-NYSEAMER-2017-02] Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change in Connection With Its Recent Name Change From NYSE MKT LLC to NYSE American LLC and the Related Rebranding of NYSE Amex Options to NYSE American Options DATES: August 8, 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 July 27, 2017, NYSE American LLC (the ``Exchange'' or ``NYSE American'') 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. --------------------------------------------------------------------------- \1\ 15 U.S.C.78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes in connection with its recent name change from NYSE MKT LLC (``NYSE MKT'') to NYSE American and the related rebranding of NYSE Amex Options to NYSE American Options, to make technical and conforming changes to the rules of the Exchange (``Rules'') and the NYSE American Options Fee Schedule (``Fee Schedule''). 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 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 proposes, in connection with its name change from NYSE MKT to NYSE American and the related rebranding of NYSE Amex Options to NYSE American Options, to make technical and conforming changes the Rules and Fee Schedule.\4\ --------------------------------------------------------------------------- \4\ The Exchange originally filed the proposed changes on July 21, 2017 (SR-NYSEMKT-2017-47) and withdrew such filing on July 27, 2017. --------------------------------------------------------------------------- Background On March 16, 2017, the Exchange filed rule changes with the Commission in connection with its name change to NYSE American.\5\ In addition, on May 19, 2017, the Exchange 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\ In those filings, the Exchange committed to submitting subsequent rule filings as necessary to make any technical and conforming changes to proposed rule changes that were pending as of the time of those filings or that occurred after such filings but before the operative date of the name [[Page 37970]] change.\7\ The Exchange's name change became operative on July 24, 2017. Accordingly, the Exchange now proposes to make technical and conforming changes to its Rules and Fee Schedule to reflect the name change to NYSE American and rebrand from NYSE Amex Options to NYSE American Options, as detailed below. --------------------------------------------------------------------------- \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). \7\ See supra note 5 at 15246 and note 6 at 24765. --------------------------------------------------------------------------- Proposed ChangesIn Rule 36--Equities, Supplementary Materials .21, .23, and .70 (Communications Between Exchange and Members' Offices), the Exchange proposes to change references to ``NYSE Amex Options Trading Floor'' to ``NYSE American Options Trading Floor.'' In the Fee Schedule, under Section I. Options Transaction Fees and Credits, subpart M.BOLD Mechanism Fees & Credits, the Exchange proposes to change the reference to ``NYSE Amex Options Market Makers'' to ``NYSE American Options Market Makers''. 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. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f(b). \9\ 15 U.S.C. 78f(b)(1). --------------------------------------------------------------------------- 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 Fee Schedule accurately reflect the name of the Exchange and its facility for trading options 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,\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. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- 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 Fee Schedule. The Exchange believes that, by ensuring that the Rules and Fee Schedule accurately reflect the name of the Exchange and its options market 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 Fee Schedule to reflect its name change from NYSE MKT to NYSE American and the related 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. --------------------------------------------------------------------------- \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). --------------------------------------------------------------------------- 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 [email protected]. Please include File Number SR-NYSEAMER-2017-02 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-NYSEAMER-2017-02. 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 [[Page 37971]] available publicly. All submissions should refer to File Number SR- NYSEAMER-2017-02 and should be submitted on or before September 5, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\14\ --------------------------------------------------------------------------- \14\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-17042 Filed 8-11-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 155 / Monday, August 14, 2017 / Notices 37969
III. Date of Effectiveness of the Reference Room, 100 F Street NE., Options, to make technical and
Proposed Rule Change and Timing for Washington, DC 20549, on official conforming changes to the rules of the
Commission Action business days between the hours of Exchange (‘‘Rules’’) and the NYSE
The foregoing rule change has become 10:00 a.m. and 3:00 p.m. Copies of the American Options Fee Schedule (‘‘Fee
effective pursuant to Section filing also will be available for Schedule’’). The proposed change is
19(b)(3)(A)(ii) of the Act,17 and Rule inspection and copying at the principal available on the Exchange’s Web site at
19b–4(f)(2) 18 thereunder. At any time office of the Exchange. All comments www.nyse.com, at the principal office of
within 60 days of the filing of the received will be posted without change; the Exchange, and at the Commission’s
proposed rule change, the Commission the Commission does not edit personal Public Reference Room.
summarily may temporarily suspend identifying information from
submissions. You should submit only II. Self-Regulatory Organization’s
such rule change if it appears to the Statement of the Purpose of, and
Commission that such action is: (i) information that you wish to make
available publicly. All submissions Statutory Basis for, the Proposed Rule
Necessary or appropriate in the public Change
interest; (ii) for the protection of should refer to File Number SR–ISE–
investors; or (iii) otherwise in 2017–77 and should be submitted on or
In its filing with the Commission, the
furtherance of the purposes of the Act. before September 5, 2017.
self-regulatory organization included
If the Commission takes such action, the For the Commission, by the Division of statements concerning the purpose of,
Commission shall institute proceedings Trading and Markets, pursuant to delegated and basis for, the proposed rule change
to determine whether the proposed rule authority.19
and discussed any comments it received
should be approved or disapproved. Eduardo A. Aleman, on the proposed rule change. The text
Assistant Secretary. of those statements may be examined at
IV. Solicitation of Comments
[FR Doc. 2017–17065 Filed 8–11–17; 8:45 am] the places specified in Item IV below.
Interested persons are invited to BILLING CODE 8011–01–P The Exchange has prepared summaries,
submit written data, views, and set forth in sections A, B, and C below,
arguments concerning the foregoing, of the most significant parts of such
including whether the proposed rule SECURITIES AND EXCHANGE statements.
change is consistent with the Act. COMMISSION
Comments may be submitted by any of A. Self-Regulatory Organization’s
[Release No. 34–81337; File No. SR–
the following methods: Statement of the Purpose of, and the
NYSEAMER–2017–02]
Statutory Basis for, the Proposed Rule
Electronic Comments
Self-Regulatory Organizations; NYSE Change
• Use the Commission’s Internet American LLC; Notice of Filing and
comment form (http://www.sec.gov/ 1. Purpose
Immediate Effectiveness of Proposed
rules/sro.shtml); or
Change in Connection With Its Recent The Exchange proposes, in
• Send an email to rule-comments@
Name Change From NYSE MKT LLC to connection with its name change from
sec.gov. Please include File Number SR–
ISE–2017–77 on the subject line. NYSE American LLC and the Related NYSE MKT to NYSE American and the
Rebranding of NYSE Amex Options to related rebranding of NYSE Amex
Paper Comments NYSE American Options Options to NYSE American Options, to
• Send paper comments in triplicate make technical and conforming changes
DATES: August 8, 2017. the Rules and Fee Schedule.4
to Secretary, Securities and Exchange Pursuant to Section 19(b)(1) 1 of the
Commission, 100 F Street NE., Securities Exchange Act of 1934 (the Background
Washington, DC 20549–1090. ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
All submissions should refer to File notice is hereby given that, on July 27, On March 16, 2017, the Exchange
Number SR–ISE–2017–77. This file 2017, NYSE American LLC (the filed rule changes with the Commission
number should be included on the ‘‘Exchange’’ or ‘‘NYSE American’’) filed in connection with its name change to
subject line if email is used. To help the with the Securities and Exchange NYSE American.5 In addition, on May
Commission process and review your Commission (the ‘‘Commission’’) the 19, 2017, the Exchange filed rule
comments more efficiently, please use proposed rule change as described in changes with the Commission
only one method. The Commission will Items I and II below, which Items have associated with the rebranding of NYSE
post all comments on the Commission’s been prepared by the self-regulatory Amex Options, the Exchange’s facility
Internet Web site (http://www.sec.gov/ organization. The Commission is for trading options, to NYSE American
rules/sro.shtml). Copies of the publishing this notice to solicit Options.6 In those filings, the Exchange
submission, all subsequent comments on the proposed rule change committed to submitting subsequent
amendments, all written statements from interested persons. rule filings as necessary to make any
with respect to the proposed rule technical and conforming changes to
change that are filed with the I. Self-Regulatory Organization’s proposed rule changes that were
Commission, and all written Statement of the Terms of Substance of pending as of the time of those filings
communications relating to the the Proposed Rule Change or that occurred after such filings but
proposed rule change between the The Exchange proposes in connection before the operative date of the name
Commission and any person, other than with its recent name change from NYSE
sradovich on DSK3GMQ082PROD with NOTICES
those that may be withheld from the MKT LLC (‘‘NYSE MKT’’) to NYSE 4 The Exchange originally filed the proposed
public in accordance with the American and the related rebranding of changes on July 21, 2017 (SR–NYSEMKT–2017–47)
provisions of 5 U.S.C. 552, will be and withdrew such filing on July 27, 2017.
NYSE Amex Options to NYSE American 5 See Securities Exchange Act Release No.80283
available for Web site viewing and
(March 21, 2017), 82 FR 15244 (March 27, 2017)
printing in the Commission’s Public 19 17 CFR 200.30–3(a)(12). (SR–NYSEMKT–2017–14).
1 15 U.S.C.78s(b)(1). 6 See Securities Exchange Act Release No. 80748
17 15 U.S.C. 78s(b)(3)(A)(ii). 2 15 U.S.C. 78a.
(May 23, 2017), 82 FR 24764 (May 30, 2017) (SR–
18 17 CFR 240.19b–4(f)(2). 3 17 CFR 240.19b–4. NYSEMKT 2017–20).
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![Federal Register / Vol. 82, No. 155 / Monday, August 14, 2017 / Notices 37971
available publicly. All submissions the proposed rule change and discussed collected only on the cleared customer
should refer to File Number SR– any comments it received on the contracts executed at GEMX, taking into
NYSEAMER–2017–02 and should be proposed rule change. The text of these account any CMTA instructions which
submitted on or before September 5, statements may be examined at the may result in collecting the ORF from a
2017. places specified in Item IV below. The non-member.
For the Commission, by the Division of Exchange has prepared summaries, set By way of example, if Broker A, a
Trading and Markets, pursuant to delegated forth in sections A, B, and C below, of GEMX member, routes a customer order
authority.14 the most significant aspects of such to CBOE and the transaction executes on
Eduardo A. Aleman, statements. CBOE and clears in Broker A’s OCC
Assistant Secretary. Clearing account, ORF will be collected
A. Self-Regulatory Organization’s by GEMX from Broker A’s clearing
[FR Doc. 2017–17042 Filed 8–11–17; 8:45 am] Statement of the Purpose of, and the account at OCC via direct debit. While
BILLING CODE 8011–01–P Statutory Basis for, the Proposed Rule this transaction was executed on a
Change market other than GEMX, it was cleared
SECURITIES AND EXCHANGE 1. Purpose by a GEMX member in the member’s
COMMISSION GEMX initially filed to establish its OCC clearing account in the customer
ORF in 2013.3 At this time, the range, therefore there is a regulatory
[Release No. 34–81342; File No. SR–GEMX– nexus between GEMX and the
2017–31] Exchange proposes to: (i) More closely
reflect the manner in which GEMX transaction. If Broker A was not a GEMX
assesses and collects its ORF; and (ii) member, then no ORF should be
Self-Regulatory Organizations; Nasdaq assessed and collected because there is
GEMX, LLC; Notice of Filing and remove rule text related to the timing
when the Exchange may increase or no nexus; the transaction did not
Immediate Effectiveness of Proposed execute on GEMX nor was it cleared by
Rule Change To Amend GEMX’s decrease the amount of its ORF.
The Exchange supports a common a GEMX member.
Schedule of Fees With Respect to the In the case where a member both
Options Regulatory Fee approach for the assessment and
collection of ORF among the various executes a transaction and clears the
August 8, 2017. options exchanges that assess such a fee. transaction, the ORF is assessed to and
Pursuant to Section 19(b)(1) of the Furthermore, the Exchange supports collected from the member only. In the
Securities Exchange Act of 1934 guidance from the Commission case where a member executes a
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 regarding regulatory cost structures to transaction and a different member
notice is hereby given that on July 26, ensure equal knowledge and treatment clears the transaction, the ORF is
2017, Nasdaq GEMX, LLC (‘‘GEMX’’ or among options markets assessing ORF. assessed to and collected from the
‘‘Exchange’’) filed with the Securities member who clears the transaction and
Proposal 1—Reflect the Manner in not the member who executes the
and Exchange Commission (‘‘SEC’’ or
Which GEMX Assesses and Collects Its transaction. In the case where a non-
‘‘Commission’’) the proposed rule
ORF member executes a transaction at an
change as described in Items I, II, and
III, below, which Items have been Currently, GEMX assesses an ORF of away market and a member clears the
prepared by the Exchange. The $0.0010 per contract side. This transaction, the ORF is assessed to and
Commission is publishing this notice to proposed rule change does not seek to collected from the member who clears
solicit comments on the proposed rule amend the amount of the ORF. the transaction. In the case where a
change from interested persons. Currently, GEMX assesses its ORF for member executes a transaction on
each customer option transaction that is GEMX and a non-member clears the
I. Self-Regulatory Organization’s either: (1) Executed by a member on transaction, the ORF is assessed to the
Statement of the Terms of Substance of GEMX; or (2) cleared by a GEMX member that executed the transaction
the Proposed Rule Change member at The Options Clearing and collected from the non-member
The Exchange proposes to revise Corporation (‘‘OCC’’) in the customer who cleared the transaction. In the case
GEMX’s Schedule of Fees to: (i) More range,4 even if the transaction was where a member executes a transaction
closely reflect the manner in which executed by a non-member of GEMX, at an away market and a non-member
GEMX assesses and collects its ORF; regardless of the exchange on which the clears the transaction, the ORF is not
and (ii) remove rule text related to the transaction occurs.5 If the OCC clearing assessed to the member who executed
timing when the Exchange may increase member is a GEMX member, ORF is the transaction or collected from the
or decrease the amount of the ORF. assessed and collected on all cleared non-member who cleared the
The text of the proposed rule change customer contracts (after adjustment for transaction because the Exchange does
is available on the Exchange’s Web site CMTA 6); and (2) if the OCC clearing not have access to the data to make
at www.ise.com, at the principal office member is not a GEMX member, ORF is absolutely certain that ORF should
of the Exchange, and at the apply. Further, the data does not allow
Commission’s Public Reference Room. 3 See Securities Exchange Act Release Nos. 70200 the Exchange to identify the member
(August 14, 2013), 74 FR 51242 (August 20, 2013) executing the trade at an away market.
II. Self-Regulatory Organization’s (SR-Topaz-2013–01) (Notice of Filing and
Statement of the Purpose of, and Immediate Effectiveness of Proposed Rule Change ORF Revenue and Monitoring of ORF
Statutory Basis for, the Proposed Rule to Establish the Schedule of Fees). The Exchange monitors the amount of
4 Members must record the appropriate account
Change revenue collected from the ORF to
sradovich on DSK3GMQ082PROD with NOTICES
origin code on all orders at the time of entry in
In its filing with the Commission, the order. The Exchange represents that it has ensure that it, in combination with other
Exchange included statements surveillances in place to verify that members mark regulatory fees and fines, does not
orders with the correct account origin code. exceed regulatory costs. In determining
concerning the purpose of and basis for 5 The Exchange uses reports from OCC when
whether an expense is considered a
assessing and collecting the ORF.
14 17 CFR 200.30–3(a)(12). 6 CMTA or Clearing Member Trade Assignment is regulatory cost, the Exchange reviews
1 15 U.S.C. 78s(b)(1). a form of ‘‘give-up’’ whereby the position will be all costs and makes determinations if
2 17 CFR 240.19b–4. assigned to a specific clearing firm at OCC. there is a nexus between the expense
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Document Created: 2018-10-24 11:52:10
Document Modified: 2018-10-24 11:52:10
| 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 | |
| Dates | August 8, 2017. | |
| FR Citation | 82 FR 37969 |
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