83 FR 63958 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend NYSE Arca Rule 5.1-E(a)(2)

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 238 (December 12, 2018)

Page Range		63958-63960
FR Document		2018-26832
Federal Register, Volume 83 Issue 238 (Wednesday, December 12, 2018)
[Federal Register Volume 83, Number 238 (Wednesday, December 12, 2018)]
[Notices]
[Pages 63958-63960]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-26832]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84735; File No. SR-NYSEArca-2018-87]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend NYSE Arca 
Rule 5.1-E(a)(2)

December 6, 2018.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given 
that, on November 27, 2018, NYSE Arca, Inc. (``Exchange'' or ``NYSE 
Arca'') filed with the Securities and Exchange Commission 
(``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 to amend NYSE Arca Rule 5.1-E(a)(2) to remove 
the requirement that the Exchange file with the Securities and Exchange 
Commission (the ``Commission'') a Form 19b-4(e) for each ``new 
derivative securities product'' that will commence trading on the 
Exchange pursuant to unlisted trading privileges. The proposed rule 
change is available on the Exchange's website 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.

[[Page 63959]]

A. Self-Regulatory Organization's Statement of the Purpose of, and the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of the proposed rule change is to amend NYSE Arca Rule 
5.1-E(a)(2)(i) to remove the requirement that the Exchange file with 
the Commission a Form 19b-4(e) for each ``new derivative securities 
product'' that will commence trading on the Exchange pursuant to 
unlisted trading privileges. The Exchange also proposes to renumber the 
remaining subsections of NYSE Arca Rule 5.1-E(a)(2) to maintain an 
organized rule structure. The Exchange notes that a substantially 
identical proposed rule change by NYSE National, Inc. (``NYSE 
National'') was recently approved by the Commission.\4\
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    \4\ See Securities Exchange Act Release No. 83289 (May 17, 
2018), 83 FR 23968 (May 23, 2018) (Order Approving File No. SR-
NYSENat-2018-02).
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    NYSE Arca Rule 5.1-E(a)(2)(i) sets forth the requirement for the 
Exchange to file with the Commission a Form 19b-4(e) with respect to 
each ``new derivative securities product'' that is traded pursuant to 
unlisted trading privileges. However, the Exchange believes that it 
should not be necessary to file a Form 19b-4(e) with the Commission if 
it begins trading a ``new derivative securities product'' pursuant to 
unlisted trading privileges, because Rule 19b-4(e)(1) under the Act 
refers to the ``listing and trading'' of a ``new derivative securities 
product.'' The Exchange believes that the requirements of that rule 
refer to when an exchange lists and trades a ``new derivative 
securities product'', and not when an exchange seeks only to trade such 
product pursuant to unlisted trading privileges pursuant to Rule 12f-2 
under the Act.\5\ Therefore, the Exchange proposes to delete the 
requirement in current NYSE Arca Rule 5.1-E(a)(2)(i) for the Exchange 
to file a Form 19b-4(e) with the Commission with respect to each ``new 
derivative securities product'' it begins trading pursuant to unlisted 
trading privileges. In addition, as a result of the deletion of current 
NYSE Arca Rule 5.1-E(a)(2)(i), the Exchange proposes to renumber 
current NYSE Arca Rules 5.1-E(a)(2)(ii)-(vi). Lastly, the Exchange 
proposes to delete a duplicative reference to subparagraph (v).
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    \5\ 17 CFR 240.12f-2.
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2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the provisions of Section 6(b) \6\ of the Act in general, and 
furthers the objectives of Section 6(b)(5) of the Act \7\ in 
particular, in that it is designed to prevent fraudulent and 
manipulative acts and practices, to promote just and equitable 
principles of trade, 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. Specifically, 
eliminating the requirement to file a Form 19b-4(e) for each ``new 
derivative securities product'' the Exchange begins trading on an 
unlisted trading privileges basis removes an unnecessary regulatory 
requirement thereby providing for a more efficient process for adding a 
``new derivative securities product'' to trading on the Exchange on an 
unlisted trading privileges basis.
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    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(5).
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    As noted above, the Commission recently approved a substantially 
identical proposed rule change by NYSE National.\8\ In particular, the 
Commission noted in the approval order that it ``believes that the 
filing of a Form 19b-4(e) is not required when an Exchange is trading a 
new derivative securities product on a UTP basis only'' \9\ and also 
found that the NYSE National's proposed rule change is ``consistent 
with the requirements of Section 6(b)(5) of the Act.'' \10\ The Nasdaq 
Stock Market LLC (``Nasdaq''), Nasdaq PHLX LLC (``PHLX''), Nasdaq BX, 
Inc. (``BX'') and Investors Exchange LLC (``IEX'') also recently 
amended their rules to remove the requirement to file with the 
Commission a Form 19b-4(e) for each ``new derivative securities 
product'' traded on each of those exchanges pursuant to unlisted 
trading privileges.\11\
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    \8\ See Securities Exchange Act Release No. 83289 (May 17, 
2018), 83 FR 23968 (May 23, 2018) (Order Approving File No. (SR-
NYSENat-2018-02).
    \9\ See supra note 10 [sic] at page 23975 at footnote 149.
    \10\ See supra note 10 [sic] at page 23975-6.
    \11\ See Securities Exchange Act Release Nos. 84488 (October 25, 
2018), 83 FR 54801 (October 31, 2018) (SR-NASDAQ-2018-082); 84542 
(November 6, 2018), 83 FR 56385 (November 13, 2018) (SR-Phlx-2018-
67); 84546 (November 7, 2018) 83 FR 56888 (November 14, 2018) (SR-
BX-2018-051); and 83609 (July 9, 2018), 83 FR 32704 (July 13, 2018) 
(SR-IEX-2018-14).
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    With respect to the renumbering of current NYSE Arca Rules 5.1-
E(a)(2)(ii)-(vi) and the deletion of the duplicative reference to 
subparagraph (v), the Exchange believes that these changes are 
consistent with the Act because they will allow the Exchange to 
maintain a clear and organized rule structure, thus preventing investor 
confusion.
    For these reasons, the Exchange believes the proposed rule change 
is consistent with the requirements of Section 6(b)(5) of the Act.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change would 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act. To the contrary, removing 
the requirement to file a Form 19b-4(e) will serve to enhance 
competition by providing for the efficient addition of new derivative 
securities products for trading pursuant to unlisted trading privileges 
on the Exchange. To the extent that a competitor marketplace believes 
that the proposed rule change places it at a competitive disadvantage, 
it may file with the Commission a proposed rule change to adopt the 
same or similar rule.
    In addition, the proposal to renumber current NYSE Arca Rules 5.1-
E(a)(2)(ii)-(vi) does not impact competition in any respect since it 
merely maintains a clear and organized rule structure.

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 proposed rule change does not: (i) Significantly affect 
the protection of investors or the public interest; (ii) impose any 
significant burden on competition; or (iii) become operative prior to 
30 days from the date on which it was filed, or such shorter time as 
the Commission may designate, it has become effective pursuant to 
Section 19(b)(3)(A) of the Act \12\ and Rule 19b-4(f)(6) 
thereunder.\13\
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    \12\ 15 U.S.C. 78s(b)(3)(A).
    \13\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file the proposed rule change, along 
with a brief description and text of the proposed rule change, at 
least five business days prior to the date of filing of the proposed 
rule change, or such shorter time as designated by the Commission. 
The Exchange has satisfied this requirement.
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    The Exchange has asked the Commission to waive the 30-day operative 
delay so that the proposal may become operative immediately upon 
filing. The Commission notes that the Exchange's proposal does not 
present

[[Page 63960]]

any new or novel issues. Thus, the Commission believes that waiver of 
the 30-day operative delay is consistent with the protection of 
investors and the public interest and hereby waives the 30-day 
operative delay and designates the proposed rule change to be operative 
upon filing.\14\
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    \14\ For purposes only of waiving the 30-day operative delay, 
the Commission has also considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
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    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.

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-NYSEArca-2018-87 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-NYSEArca-2018-87. 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 website (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 website 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. Persons submitting comments are 
cautioned that we do not redact or edit personal identifying 
information from comment submissions. You should submit only 
information that you wish to make available publicly. All submissions 
should refer to File Number SR-NYSEArca-2018-87 and should be submitted 
on or before January 2, 2019.
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    \15\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-26832 Filed 12-11-18; 8:45 am]
 BILLING CODE 8011-01-P
63958 Federal Register / Vol. 83, No. 238 / Wednesday, December 12, 2018 / Notices

A proposed rule change filed under Paper Comments SECURITIES AND EXCHANGE
Rule 19b–4(f)(6) 19 normally does not COMMISSION
become operative prior to 30 days after • Send paper comments in triplicate
the date of the filing. However, Rule to Secretary, Securities and Exchange
[Release No. 34–84735; File No. SR–
19b–4(f)(6)(iii)20 permits the Commission, 100 F Street NE,
NYSEArca–2018–87]
Commission to designate a shorter time Washington, DC 20549–1090.
if such action is consistent with the All submissions should refer to File Self-Regulatory Organizations; NYSE
protection of investors and the public Number SR–ISE–2018–96. This file Arca, Inc.; Notice of Filing and
interest. The Exchange has asked the number should be included on the Immediate Effectiveness of Proposed
Commission to waive the 30-day Rule Change To Amend NYSE Arca
subject line if email is used. To help the
operative delay so that the proposal may Rule 5.1–E(a)(2)
Commission process and review your
become operative immediately upon
filing. The Exchange states that comments more efficiently, please use December 6, 2018.
immediately codifying its current only one method. The Commission will
post all comments on the Commission’s Pursuant to Section 19(b)(1) 1 of the
practice within its rules to accurately Securities Exchange Act of 1934
reflect the operation of the Exchange’s internet website (http://www.sec.gov/
rules/sro.shtml). Copies of the (‘‘Act’’) 2 and Rule 19b–4 thereunder,3
System will avoid confusion. The notice is hereby given that, on
Commission believes that waiver of the submission, all subsequent
amendments, all written statements November 27, 2018, NYSE Arca, Inc.
30-day operative delay is consistent (‘‘Exchange’’ or ‘‘NYSE Arca’’) filed
with the protection of investors and the with respect to the proposed rule
with the Securities and Exchange
public interest. Accordingly, the change that are filed with the
Commission (‘‘Commission’’) the
Commission hereby waives the Commission, and all written
proposed rule change as described in
operative delay and designates the communications relating to the
Items I and II below, which Items have
proposed rule change as operative upon proposed rule change between the been prepared by the self-regulatory
filing.21 Commission and any person, other than organization. The Commission is
At any time within 60 days of the those that may be withheld from the publishing this notice to solicit
filing of the proposed rule change, the public in accordance with the comments on the proposed rule change
Commission summarily may provisions of 5 U.S.C. 552, will be from interested persons.
temporarily suspend such rule change if available for website viewing and
it appears to the Commission that such printing in the Commission’s Public I. Self-Regulatory Organization’s
action is: (i) Necessary or appropriate in Reference Room, 100 F Street NE, Statement of the Terms of Substance of
the public interest; (ii) for the protection Washington, DC 20549, on official the Proposed Rule Change
of investors; or (iii) otherwise in business days between the hours of
furtherance of the purposes of the Act. The Exchange proposes to amend
10:00 a.m. and 3:00 p.m. Copies of the NYSE Arca Rule 5.1–E(a)(2) to remove
If the Commission takes such action, the filing also will be available for
Commission shall institute proceedings the requirement that the Exchange file
inspection and copying at the principal with the Securities and Exchange
to determine whether the proposed rule office of the Exchange. All comments
should be approved or disapproved. Commission (the ‘‘Commission’’) a
received will be posted without change. Form 19b–4(e) for each ‘‘new derivative
IV. Solicitation of Comments Persons submitting comments are securities product’’ that will commence
cautioned that we do not redact or edit trading on the Exchange pursuant to
Interested persons are invited to
personal identifying information from unlisted trading privileges. The
submit written data, views, and
comment submissions. You should proposed rule change is available on the
arguments concerning the foregoing,
including whether the proposed rule submit only information that you wish Exchange’s website at www.nyse.com, at
change is consistent with the Act. to make available publicly. All the principal office of the Exchange, and
Comments may be submitted by any of submissions should refer to File at the Commission’s Public Reference
the following methods: Number SR–ISE–2018–96 and should be Room.
submitted on or before January 2, 2019.
Electronic Comments II. Self-Regulatory Organization’s
For the Commission, by the Division of Statement of the Purpose of, and
• Use the Commission’s internet Trading and Markets, pursuant to delegated Statutory Basis for, the Proposed Rule
comment form (http://www.sec.gov/ authority.22 Change
rules/sro.shtml); or Eduardo A. Aleman,
• Send an email to rule-comments@ Assistant Secretary. In its filing with the Commission, the
sec.gov. Please include File Number SR– [FR Doc. 2018–26826 Filed 12–11–18; 8:45 am]
self-regulatory organization included
ISE–2018–96 on the subject line. statements concerning the purpose of,
BILLING CODE 8011–01–P
and basis for, the proposed rule change
give the Commission written notice of its intent to and discussed any comments it received
file the proposed rule change, along with a brief on the proposed rule change. The text
description and the text of the proposed rule of those statements may be examined at
change, at least five business days prior to the date
of filing of the proposed rule change, or such
the places specified in Item IV below.
The Exchange has prepared summaries,
amozie on DSK3GDR082PROD with NOTICES1

shorter time as designated by the Commission. The
Exchange has satisfied this requirement. set forth in sections A, B, and C below,
19 17 CFR 240.19b–4(f)(6).
of the most significant parts of such
20 17 CFR 240.19b–4(f)(6)(iii).
statements.
21 For purposes only of waiving the 30-day

operative delay, the Commission has also
1 15 U.S.C. 78s(b)(1).
considered the proposed rule’s impact on
2 15 U.S.C. 78a.
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f). 22 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4.

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Federal Register / Vol. 83, No. 238 / Wednesday, December 12, 2018 / Notices 63959

A. Self-Regulatory Organization’s Act in general, and furthers the For these reasons, the Exchange
Statement of the Purpose of, and the objectives of Section 6(b)(5) of the Act 7 believes the proposed rule change is
Statutory Basis for, the Proposed Rule in particular, in that it is designed to consistent with the requirements of
Change prevent fraudulent and manipulative Section 6(b)(5) of the Act.
acts and practices, to promote just and
1. Purpose B. Self-Regulatory Organization’s
equitable principles of trade, to remove Statement on Burden on Competition
The purpose of the proposed rule impediments to and perfect the
change is to amend NYSE Arca Rule mechanism of a free and open market The Exchange does not believe that
5.1–E(a)(2)(i) to remove the requirement and a national market system, and, in the proposed rule change would impose
that the Exchange file with the general, to protect investors and the any burden on competition that is not
Commission a Form 19b–4(e) for each public interest. Specifically, eliminating necessary or appropriate in furtherance
‘‘new derivative securities product’’ that the requirement to file a Form 19b–4(e) of the purposes of the Act. To the
will commence trading on the Exchange for each ‘‘new derivative securities contrary, removing the requirement to
pursuant to unlisted trading privileges. product’’ the Exchange begins trading file a Form 19b–4(e) will serve to
The Exchange also proposes to on an unlisted trading privileges basis enhance competition by providing for
renumber the remaining subsections of removes an unnecessary regulatory the efficient addition of new derivative
NYSE Arca Rule 5.1–E(a)(2) to maintain requirement thereby providing for a securities products for trading pursuant
an organized rule structure. The more efficient process for adding a ‘‘new to unlisted trading privileges on the
Exchange notes that a substantially derivative securities product’’ to trading Exchange. To the extent that a
identical proposed rule change by NYSE on the Exchange on an unlisted trading competitor marketplace believes that the
National, Inc. (‘‘NYSE National’’) was privileges basis. proposed rule change places it at a
recently approved by the Commission.4 competitive disadvantage, it may file
NYSE Arca Rule 5.1–E(a)(2)(i) sets As noted above, the Commission with the Commission a proposed rule
forth the requirement for the Exchange recently approved a substantially change to adopt the same or similar
to file with the Commission a Form identical proposed rule change by NYSE rule.
19b–4(e) with respect to each ‘‘new National.8 In particular, the Commission In addition, the proposal to renumber
derivative securities product’’ that is noted in the approval order that it current NYSE Arca Rules 5.1–
traded pursuant to unlisted trading ‘‘believes that the filing of a Form 19b– E(a)(2)(ii)–(vi) does not impact
privileges. However, the Exchange 4(e) is not required when an Exchange competition in any respect since it
believes that it should not be necessary is trading a new derivative securities merely maintains a clear and organized
to file a Form 19b–4(e) with the product on a UTP basis only’’ 9 and also rule structure.
Commission if it begins trading a ‘‘new found that the NYSE National’s
proposed rule change is ‘‘consistent C. Self-Regulatory Organization’s
derivative securities product’’ pursuant
with the requirements of Section 6(b)(5) Statement on Comments on the
to unlisted trading privileges, because
of the Act.’’ 10 The Nasdaq Stock Market Proposed Rule Change Received From
Rule 19b–4(e)(1) under the Act refers to
LLC (‘‘Nasdaq’’), Nasdaq PHLX LLC Members, Participants, or Others
the ‘‘listing and trading’’ of a ‘‘new
derivative securities product.’’ The (‘‘PHLX’’), Nasdaq BX, Inc. (‘‘BX’’) and No written comments were solicited
Exchange believes that the requirements Investors Exchange LLC (‘‘IEX’’) also or received with respect to the proposed
of that rule refer to when an exchange recently amended their rules to remove rule change.
lists and trades a ‘‘new derivative the requirement to file with the
III. Date of Effectiveness of the
securities product’’, and not when an Commission a Form 19b–4(e) for each
Proposed Rule Change and Timing for
exchange seeks only to trade such ‘‘new derivative securities product’’
Commission Action
product pursuant to unlisted trading traded on each of those exchanges
privileges pursuant to Rule 12f–2 under pursuant to unlisted trading Because the proposed rule change
the Act.5 Therefore, the Exchange privileges.11 does not: (i) Significantly affect the
proposes to delete the requirement in protection of investors or the public
With respect to the renumbering of
current NYSE Arca Rule 5.1–E(a)(2)(i) interest; (ii) impose any significant
current NYSE Arca Rules 5.1–
for the Exchange to file a Form 19b–4(e) burden on competition; or (iii) become
E(a)(2)(ii)–(vi) and the deletion of the
with the Commission with respect to operative prior to 30 days from the date
duplicative reference to subparagraph
each ‘‘new derivative securities on which it was filed, or such shorter
(v), the Exchange believes that these
product’’ it begins trading pursuant to time as the Commission may designate,
changes are consistent with the Act
unlisted trading privileges. In addition, it has become effective pursuant to
because they will allow the Exchange to
as a result of the deletion of current Section 19(b)(3)(A) of the Act 12 and
maintain a clear and organized rule
NYSE Arca Rule 5.1–E(a)(2)(i), the Rule 19b–4(f)(6) thereunder.13
structure, thus preventing investor
Exchange proposes to renumber current The Exchange has asked the
confusion.
NYSE Arca Rules 5.1–E(a)(2)(ii)–(vi). Commission to waive the 30-day
Lastly, the Exchange proposes to delete operative delay so that the proposal may
7 15 U.S.C. 78f(b)(5).
a duplicative reference to subparagraph 8 See
become operative immediately upon
Securities Exchange Act Release No. 83289
(v). (May 17, 2018), 83 FR 23968 (May 23, 2018) (Order filing. The Commission notes that the
Approving File No. (SR–NYSENat–2018–02). Exchange’s proposal does not present
2. Statutory Basis 9 See supra note 10 [sic] at page 23975 at footnote

The Exchange believes that the 149. 12 15 U.S.C. 78s(b)(3)(A).
amozie on DSK3GDR082PROD with NOTICES1

10 See supra note 10 [sic] at page 23975–6. 13 17
proposed rule change is consistent with CFR 240.19b–4(f)(6). In addition, Rule 19b–
11 See Securities Exchange Act Release Nos. 4(f)(6)(iii) requires a self-regulatory organization to
the provisions of Section 6(b) 6 of the 84488 (October 25, 2018), 83 FR 54801 (October 31, give the Commission written notice of its intent to
2018) (SR–NASDAQ–2018–082); 84542 (November file the proposed rule change, along with a brief
4 See Securities Exchange Act Release No. 83289
6, 2018), 83 FR 56385 (November 13, 2018) (SR– description and text of the proposed rule change,
(May 17, 2018), 83 FR 23968 (May 23, 2018) (Order Phlx–2018–67); 84546 (November 7, 2018) 83 FR at least five business days prior to the date of filing
Approving File No. SR–NYSENat–2018–02). 56888 (November 14, 2018) (SR–BX–2018–051); of the proposed rule change, or such shorter time
5 17 CFR 240.12f–2.
and 83609 (July 9, 2018), 83 FR 32704 (July 13, as designated by the Commission. The Exchange
6 15 U.S.C. 78f(b). 2018) (SR–IEX–2018–14). has satisfied this requirement.

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63960 Federal Register / Vol. 83, No. 238 / Wednesday, December 12, 2018 / Notices

any new or novel issues. Thus, the Washington, DC 20549 on official intended to harmonize Exchange rules
Commission believes that waiver of the business days between the hours of with the rules of the Exchange’s
30-day operative delay is consistent 10:00 a.m. and 3:00 p.m. Copies of the affiliates and the Financial Regulatory
with the protection of investors and the filing also will be available for Authority, Inc. (‘‘FINRA’’) and thus
public interest and hereby waives the inspection and copying at the principal promote consistency within the
30-day operative delay and designates office of the Exchange. All comments securities industry. The proposed rule
the proposed rule change to be operative received will be posted without change. change is available on the Exchange’s
upon filing.14 Persons submitting comments are website at www.nyse.com, at the
At any time within 60 days of the cautioned that we do not redact or edit principal office of the Exchange, and at
filing of the proposed rule change, the personal identifying information from the Commission’s Public Reference
Commission summarily may comment submissions. You should Room.
temporarily suspend such rule change if submit only information that you wish
it appears to the Commission that such to make available publicly. All II. Self-Regulatory Organization’s
action is necessary or appropriate in the submissions should refer to File Statement of the Purpose of, and
public interest, for the protection of Number SR–NYSEArca–2018–87 and Statutory Basis for, the Proposed Rule
investors, or otherwise in furtherance of should be submitted on or before Change
the purposes of the Act. January 2, 2019. In its filing with the Commission, the
IV. Solicitation of Comments For the Commission, by the Division of self-regulatory organization included
Trading and Markets, pursuant to delegated statements concerning the purpose of,
Interested persons are invited to authority.15
submit written data, views, and and basis for, the proposed rule change
Eduardo A. Aleman, and discussed any comments it received
arguments concerning the foregoing,
Assistant Secretary. on the proposed rule change. The text
including whether the proposed rule
change is consistent with the Act. [FR Doc. 2018–26832 Filed 12–11–18; 8:45 am] of those statements may be examined at
Comments may be submitted by any of BILLING CODE 8011–01–P the places specified in Item IV below.
the following methods: The Exchange has prepared summaries,
set forth in sections A, B, and C below,
Electronic Comments SECURITIES AND EXCHANGE of the most significant parts of such
• Use the Commission’s internet COMMISSION statements.
comment form (http://www.sec.gov/ [Release No. 34–84724; File No. SR– A. Self-Regulatory Organization’s
rules/sro.shtml); or NYSEAMER–2018–54]
• Send an email to rule-comments@ Statement of the Purpose of, and the
sec.gov. Please include File Number SR– Self-Regulatory Organizations; NYSE Statutory Basis for, the Proposed Rule
NYSEArca–2018–87 on the subject line. American LLC; Notice of Filing and Change
Immediate Effectiveness of Proposed 1. Purpose
Paper Comments
Rule Change of Amendments to the
• Send paper comments in triplicate Exchange’s Rules To Delete The Exchange proposes to amend its
to Secretary, Securities and Exchange References to the Term ‘‘Allied rules to delete the term ‘‘allied member’’
Commission, 100 F Street NE, Member’’ and Correct Rule 2.1220 from its rules. The ‘‘allied member’’
Washington, DC 20549–1090. designation is a regulatory category
All submissions should refer to File December 6, 2018. based on a person’s control of a member
Number SR–NYSEArca–2018–87. This Pursuant to Section 19(b)(1) 1 of the organization. The Exchange’s affiliate
file number should be included on the Securities Exchange Act of 1934 (the New York Stock Exchange LLC (the
subject line if email is used. To help the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 ‘‘NYSE’’) no longer has allied members,
Commission process and review your notice is hereby given that on November and FINRA has deleted the term from its
comments more efficiently, please use 30, 2018, NYSE American LLC (the Incorporated NYSE Rules.4 In order to
only one method. The Commission will ‘‘Exchange’’ or ‘‘NYSE American’’) filed harmonize with the rules of the NYSE
post all comments on the Commission’s with the Securities and Exchange and FINRA, the Exchange accordingly
internet website (http://www.sec.gov/ Commission (the ‘‘Commission’’) the proposes to delete reference to ‘‘allied
rules/sro.shtml). Copies of the proposed rule change as described in member’’ from the following Exchange
submission, all subsequent Items I, II, and III below, which Items rules: Rule 2, Rule 2.21E, Rule 7.3E,
amendments, all written statements have been prepared by the self- Rule 18, Rule 25, Rule 50, Rule 204,
with respect to the proposed rule regulatory organization. The Rule 310, Rule 317, Rule 320, Rule 341,
change that are filed with the Commission is publishing this notice to Rule 341A, Rule 342, Rule 356, Rule
Commission, and all written solicit comments on the proposed rule 359, Rule 359B, Rule 415, the preamble
communications relating to the change from interested persons. to the rule regarding Proxies, Rule 458—
proposed rule change between the I. Self-Regulatory Organization’s Equities, Rule 472, Rule 481, Rule 520,
Commission and any person, other than Statement of the Terms of Substance of Rule 624, Rule 724, Rule 900.2NY and
those that may be withheld from the the Proposed Rule Change Rule 9232. The Exchange also proposes
public in accordance with the to delete Rule 23, which defines the
The Exchange proposes amendments
provisions of 5 U.S.C. 552, will be term allied member, and Rule 355,
to the Exchange’s rules to delete
available for website viewing and which provides the requirements for an
references to the term ‘‘allied member’’
amozie on DSK3GDR082PROD with NOTICES1

printing in the Commission’s Public allied membership, in their entirety.
and correct an inadvertent error in Rule
Reference Room, 100 F Street NE,
2.1220. The proposed rule change is
4 See Securities Exchange Act Release No. 58549
14 For purposes only of waiving the 30-day (September 15, 2008), 73 FR 54444 (September 19,
15 17 CFR 200.30–3(a)(12).
operative delay, the Commission has also 2008) (SR–NYSE–2008–80) (Notice); Securities
1 15 U.S.C. 78s(b)(1).
considered the proposed rule’s impact on Exchange Act Release No. 58533 (September 12,
2 15 U.S.C. 78a.
efficiency, competition, and capital formation. See 2008), 73 FR 54652 (September 22, 2008) (SR–
15 U.S.C. 78c(f). 3 17 CFR 240.19b–4. FINRA–2008–036) (Order).

VerDate Sep<11>2014 18:39 Dec 11, 2018 Jkt 247001 PO 00000 Frm 00136 Fmt 4703 Sfmt 4703 E:\FR\FM\12DEN1.SGM 12DEN1
Document Created: 2018-12-12 01:40:16
Document Modified: 2018-12-12 01:40:16
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		83 FR 63958