Notice2024-01391
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of a Proposed Rule Change To Amend Rule 5.3-O To Permit the Listing and Trading of Options on Commodity-Based Trust Shares
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
January 25, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 17 (Thursday, January 25, 2024)</title>
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[Federal Register Volume 89, Number 17 (Thursday, January 25, 2024)]
[Notices]
[Pages 5029-5033]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-01391]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-99398; File No. SR-NYSEARCA-2024-06]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
of a Proposed Rule Change To Amend Rule 5.3-O To Permit the Listing and
Trading of Options on Commodity-Based Trust Shares
January 19, 2024.
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 January 16, 2024, NYSE Arca, Inc. (``NYSE Arca'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by 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 Rule 5.3-O to permit the listing and
trading of options on Commodity-Based Trust Shares. The proposed rule
change is available on the Exchange's website at <a href="http://www.nyse.com">www.nyse.com</a>, 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
NYSE Arca Rule 5.3-O, Criteria for Underlying Securities, provides
for Exchange listing and trading of option contracts. The rule sets
forth the criteria to be met by underlying securities with respect to
which put or call option contracts are approved for listing and trading
on the Exchange. The purpose of this filing is to amend NYSE Arca Rule
5.3-O, and more specifically, NYSE Arca Rule 5.3-O(g) to permit the
listing and trading of options on Commodity-Based Trust Shares.\4\
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\4\ The term ``Commodity-Based Trust Shares'' means a security
(a) that is issued by a trust (``Trust'') that holds (1) a specified
commodity deposited with the Trust, or (2) a specified commodity
and, in addition to such specified commodity, cash; (b) that is
issued by such Trust in a specified aggregate minimum number in
return for a deposit of a quantity of the underlying commodity and/
or cash; and (c) that, when aggregated in the same specified minimum
number, may be redeemed at a holder's request by such Trust which
will deliver to the redeeming holder the quantity of the underlying
commodity and/or cash. See NYSE Arca Rule 8.201-E(c)(1).
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Currently, Rule 5.3-O(g) deems appropriate for options trading
Exchange-Traded Fund Shares (``ETFs'' or ``Fund Shares'') that are
traded on a national securities exchange and are defined as an ``NMS
stock'' in Rule 600(b)(55) of Regulation NMS, and that (i) represent an
interest in a registered investment company organized as open-end
management investment company, a unit investment trust or a similar
entity which holds securities and/or financial instruments, options on
securities and indices, equity caps, collars and floors, swap
agreements, forward contracts, repurchase agreements and reverse
purchase agreements (the ``Financial Instruments''), and money market
instruments, including, but not limited to, U.S. government securities
and repurchase agreements (the ``Money Market Instruments'')
constituting or otherwise based on or representing an investment in an
index or portfolio of securities and/or Financial Instruments and Money
Market Instruments; or (ii) represent interests in a trust or similar
entity that holds a specified non-U.S. currency deposited with the
trust or similar entity when aggregated in some specified minimum
number may be surrendered to the trust by the beneficial owner to
receive the specified non-U.S. currency and pays the beneficial owner
interest and other distributions on the deposited non-U.S. currency, if
any, declared and paid by the trust; or (iii) represent commodity pool
interests principally engaged, directly or indirectly, in holding and/
or managing portfolios or baskets of securities, commodity futures
contracts, options on commodity futures contracts, swaps, forward
contracts and/or options
[[Page 5030]]
on physical commodities and/or non-U.S. currency (``Commodity Pool
Units''), or (iv) represent interests in the SPDR Gold Trust, or (v)
represent interests in the iShares COMEX Gold Trust, or (vi) represent
interests in the iShares Silver Trust, or, (vii) represents an interest
in a registered investment company (``Investment Company'') organized
as an open-end management investment company or similar entity, that
invests in a portfolio of securities selected by the Investment
Company's investment adviser consistent with the Investment Company's
investment objectives and policies, which is issued in a specified
aggregate minimum number in return for a deposit of a specified
portfolio of securities and/or a cash amount with a value equal to the
next determined net asset value (``NAV''), and when aggregated in the
same specified minimum number, may be redeemed at a holder's request,
which holder will be paid a specified portfolio of securities and/or
cash with a value equal to the next determined NAV (``Managed Fund
Share'') or, (viii) represents interest in the ETFS Silver Trust or the
ETFS Gold Trust, or (ix) represents interests in the ETFS Palladium
Trust or ETFS Platinum Trust.\5\ This rule change proposes to expand
the type of ETFs that may be approved for options trading on the
Exchange to include Commodity-Based Trust Shares \6\ without requiring
a rule filing under Section 19(b) of the Act.\7\
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\5\ See NYSE Arca Rule 5.3-O(g).
\6\ See NYSE Arca Rule 8.201-E(c)(1).
\7\ 15 U.S.C. 78s(b).
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Apart from allowing Commodity-Based Trust Shares to be an
underlying for options traded on the Exchange as described above, the
listing standards for ETFs will remain unchanged from those that apply
under current Exchange rules. ETFs on which options may be listed and
traded must still be listed and traded on a national securities
exchange and must satisfy the current listing standards set forth in
NYSE Arca Rule 5.3-O.
Commodity-Based Trust Shares are securities issued by a trust that
represents investors' discrete identifiable and undivided beneficial
ownership interest in the commodities deposited into the Trust.
Commodity-Based Trust Shares, although based upon a publicly disclosed
portfolio of securities, each trade as a single exchange-listed equity
security. Accordingly, rules pertaining to the listing and trading of
standard equity options will apply to options on Commodity-Based Trust
Shares.
Listing Criteria
The Exchange will consider listing and trading options on
Commodity-Based Trust Shares provided the Commodity-Based Trust Shares
meet (1) the criteria for underlying securities set forth in NYSE Arca
Rule 5.3-O(a) \8\ -(b),\9\ or (2) the Commodity-Based Trust Shares are
available for creation and redemption each business day as set forth in
NYSE Arca Rule 5.3-O(g)(1)(B).
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\8\ See NYSE Arca Rule 5.3-O(a) which sets forth minimum
requirements for the underlying security which include, but are not
limited to, 7,000,000 underlying shares, 2,000 shareholders, and
trading volume of 2,400,000 shares over the preceding twelve months.
Additionally, the rule requires that the market price per share of
the underlying security must be at least $7.50 for the majority of
business days during the three calendar months preceding the date of
selection of an option class. For underlying securities that are
deemed Covered Securities, as defined under Section 18(b)(1)(A) of
the Securities Act of 1933, the closing market price of the
underlying security must be at least $3.00 per share for the
previous three consecutive business days prior to the date of
selection of an option class.
\9\ See NYSE Arca Rule 5.3-O(b) which states that the underlying
securities shall be registered and be an ``NMS Stock'' as defined in
Rule 600 of Regulation NMS under the Act.
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The Exchange proposes that Commodity-Based Trust Shares deemed
appropriate for options trading represent an interest in a trust, as
described below:
<bullet> Commodity-Based Trust Shares are securities (a) that are
issued by a trust (``Trust'') that holds (1) a specified commodity
deposited with the Trust, or (2) a specified commodity and, in addition
to such specified commodity, cash; (b) that is issued by such Trust in
a specified aggregate minimum number in return for a deposit of a
quantity of the underlying commodity and/or cash; and (c) that, when
aggregated in the same specified minimum number, may be redeemed at a
holder's request by such Trust which will deliver to the redeeming
holder the quantity of the underlying commodity and/or cash.\10\
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\10\ See NYSE Arca Rule 8.201-E(c)(1).
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Additionally, the Exchange proposes that options on Commodity-Based
Trust Shares may only be listed and traded on the Exchange if the
underlying security has been reviewed and approved by the Securities
and Exchange Commission under Section 19(b)(2) of the Act or noticed
for immediate effectiveness under Section 19(b)(3)(A) of the Act, as
applicable. Pursuant to Commission approval, the Exchange currently
lists and trades 18 Commodity-Based Trust Shares.\11\ While the
Exchange's rules currently provide for the listing of options on a
limited number of such Commodity-Based Trust Shares,\12\ this proposed
rule change would permit listing options on any Commodity-Based Trust
Share, including the 11 Commodity-Based Trust Shares that have been
approved for listing and trading by the Commission but are not
currently eligible for options trading.
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\11\ See e.g. Securities Exchange Act Release Nos. 94518 (March
25, 2022), 87 FR 18837 (March 31, 2022) (Notice of Filing of
Amendment No. 1 and Order Granting Accelerated Approval of a
Proposed Rule Change, as Modified by Amendment No. 1, To List and
Trade Shares of the Sprott ESG Gold ETF Under NYSE Arca Rule 8.201-E
(Commodity-Based Trust Shares) (SR-NYSEArca-2021-65); 82249
(December 8, 2017), 82 FR 58884 (December 14, 2017) (Notice of
Filing of Amendment No. 2 and Order Approving on an Accelerated
Basis a Proposed Rule Change, as Modified by Amendment No. 2, To
List and Trade Shares of the GraniteShares Platinum Trust Under NYSE
Arca Rule 8.201-E) (SR-NYSEArca-2017-110); 68430 (December 13,
2012), 77 FR 75239 (December 19, 2012) (Order Approving a Proposed
Rule Change, as Modified by Amendment No. 1, To List and Trade Units
of the Sprott Physical Platinum and Palladium Trust Pursuant to NYSE
Arca Equities Rule 8.201) (SR-NYSEArca-2012-111); and 63043 (October
5, 2010), 75 FR 62615 (Notice of Filing and Order Granting
Accelerated Approval of a Proposed Rule Change To List and Trade
Shares of the Sprott Physical Silver Trust) (SR-NYSEArca-2010-84).
\12\ See NYSE Arca Rule 5.3-O(g)(iv) which permits the listing
and trading of options on the SPDR Gold Trust; NYSE Arca Rule 5.3-
O(g)(v) which permits the listing and trading of options on the
iShares COMEX Gold Trust; NYSE Arca Rule 5.3-O(g)(vi) which permits
the listing and trading of options on the iShares Silver Trust; NYSE
Arca Rule 5.3-O(g)(viii) which permits the listing and trading of
options on the ETFS Silver Trust or ETFS Gold Trust; and NYSE Arca
Rule 5.3-O(g)(ix) which permits the listing and trading of options
on the ETFS Palladium Trust or ETFS Platinum Trust.
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Continued Listing Requirements
The Exchange represents that the current continued listing
standards for options on Exchange-Traded Fund Shares will apply to
options on Commodity-Based Trust Shares. Specifically, under NYSE Arca
Rule 5.4-O(k), options on Exchange-Traded Fund Shares may be subject to
the suspension of opening transactions as follows: (1) the Commodity-
Based Trust Share no longer meets the terms of paragraphs 1 through 4
of Rule 5.4-O(b); (2) following the initial twelve-month period
beginning upon the commencement of trading of the Exchange-Traded Fund
Shares, there are fewer than 50 record and/or beneficial holders of the
Exchange-Traded Fund Shares for 30 or more consecutive trading days;
(3) the value of the underlying commodity is no longer calculated or
available; or (4) such other event occurs or condition exists that in
the opinion of the Exchange makes further dealing on the Exchange
inadvisable. Additionally, Commodity-Based Trust Shares shall not be
deemed to meet the requirements for continued approval, and the
Exchange shall not open for trading any additional series of option
contracts covering Commodity-
[[Page 5031]]
Based Trust Shares if such security ceases to be an ``NMS stock'' as
provided for in NYSE Arca Rule 5.4-O(b)(5) or the Commodity-Based Trust
Share is halted from trading on its primary market.\13\
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\13\ See NYSE Arca Rule 5.4-O(k).
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Finally, all options on Commodity-Based Trust Shares listed
pursuant to proposed Rule 5.3-O(g)(x) would be included within the
definition of securities as such terms are used in the Exchange's rules
and, as such, would be subject to Exchange rules and procedures that
currently govern the trading of securities on the Exchange, including
Exchange rules governing the trading of equity options. Furthermore,
the Exchange's rules pertaining to position and exercise limits \14\ or
margin \15\ shall apply to options on Commodity-Based Trust Shares.
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\14\ Pursuant to NYSE Arca Rule 6.8-O, Commentary .05 and .06,
Commodity-Based Trust Shares are subject to the same position limits
applicable to options on stocks and Exchange-Traded Fund Shares.
NYSE Arca Rule 6.9-O stipulates that exercise limits for options on
stocks and other securities, including Commodity-Based Trust Shares,
shall be the same as the position limits applicable under NYSE Arca
Rule 6.8-O.
\15\ See NYSE Arca Rules 4.15-O(a)--4.16-O(d), the Exchange's
rules governing margin.
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The Exchange notes that options on Commodity-Based Trust Shares
would not be available for trading until The Options Clearing
Corporation (``OCC'') represents to the Exchange that it is fully able
to clear and settle such options. The Exchange has also analyzed its
capacity and represents that it and The Options Price Reporting
Authority (``OPRA'') have the necessary systems capacity to handle the
additional traffic associated with the listing of options on Commodity-
Based Trust Shares.\16\ The Exchange believes any additional traffic
that would be generated from the trading of options on Commodity-Based
Trust Shares would be manageable. The Exchange represents that Exchange
members will not have a capacity issue as a result of this proposed
rule change.
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\16\ OPRA is a securities information processor registered in
accordance with Section 11A(b) of the Exchange Act. OPRA's members
consist of the national securities exchanges that have been approved
by the Commission to provide markets for the listing and trading of
exchange-traded securities options.
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The Exchange believes that its surveillance procedures are adequate
to properly monitor the trading of options on Commodity-Based Trust
Shares in all trading sessions and to deter and detect violations of
Exchange rules. The Exchange will utilize its existing surveillance
procedures applicable to options on exchange traded funds (which will
include Commodity-Based Trust Shares) to monitor such trading. In
addition, the Exchange will implement any new surveillance procedures
it deems necessary to effectively monitor the trading of options on
Commodity-Based Trust Shares, including adequate comprehensive
surveillance sharing agreements (``CSSA'') with markets trading in non-
U.S. components,\17\ as applicable. Also, the Exchange may obtain
trading information via the Intermarket Surveillance Group (``ISG'')
\18\ from other exchanges who are members or affiliates of the ISG. The
Exchange represents that these procedures will be adequate to properly
monitor Exchange trading of options on Commodity-Based Trust Shares and
to deter and detect violations of Exchange rules.
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\17\ See NYSE Arca Rule 5.3-O(g)(2), the Exchange's rule
governing the applicable CSSA requirements for options on exchange-
traded funds. The Exchange notes that any non-U.S. component
securities (including fixed-income) in an index or portfolio of
securities on which Exchange-Traded Fund Shares are based that are
not subject to comprehensive surveillance agreements may in the
aggregate represent an amount equal to 50% of the weight of the
index or portfolio.
\18\ A complete list of the current members of the ISG, is
available at <a href="http://www.isgportal.org">http://www.isgportal.org</a>.
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Finally, quotation and last sale information for Commodity-Based
Trust Shares is available via the Consolidated Tape Association
(``CTA'') high speed line. Quotation and last sale information for such
securities is also available from the exchange on which such securities
are listed. Quotation and last sale information for options on
Commodity-Based Trust Shares will be available via OPRA \19\ and major
market data vendors.
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\19\ Last sale reports and quotations are the core of the
information that OPRA disseminates. OPRA also disseminates certain
other types of information with respect to the trading of options on
the markets of the OPRA participants, such as the number of options
contracts traded, open interest and end of day summaries. OPRA also
disseminates certain kinds of administrative messages.
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The Exchange notes that the Commission has previously approved
generic listing standards pursuant to Rule 19b-4(e) of the Act \20\ for
ETFs based on indexes that consist of stocks listed on U.S.
exchanges.\21\ In addition, the Commission has previously approved
proposals for the listing and trading of options on ETFs based on
international indexes as well as global indexes (e.g., based on non-
U.S. and U.S. component stocks).\22\ In approving Commodity-Based Trust
Shares for equities exchange trading, the Commission thoroughly
considered the structure of the Commodity-Based Trust Shares, their
usefulness to investors and to the markets, and SRO rules that govern
their trading. The Exchange believes that allowing the listing of
options overlying Commodity-Based Trust Shares that are listed pursuant
to Commission approval on equities exchanges and applying Rule 19b-4(e)
\23\ should fulfill the intended objective of that rule by allowing
options on those Commodity-Based Trust Shares that have satisfied the
generic listing standards to commence trading, without the need for the
public comment period and Commission approval. The proposed rule change
has the potential to significantly reduce the time frame and costs
associated with bringing options on Commodity-Based Trust Shares to
market, thereby reducing the burden on issuers and other market
participants, while also promoting competition among options exchanges,
to the benefit of the investing public. The failure of a particular
Commodity-Based Trust Share to comply with the generic listing
standards under Rule 19b-4(e) \24\ would not, however, preclude the
Exchange from submitting a separate filing pursuant to Section
19(b)(2),\25\ requesting Commission approval to list and trade options
on a particular Commodity-Based Trust Share.
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\20\ 17 CFR 240.19b-4(e).
\21\ See Securities Exchange Act Release No. 54739 (November 9,
2006), 71 FR 66993 (November 17, 2006) (SR-AMEX-2006-78) (approval
order relating to generic listing standards for ETFs based on
international or global indexes).
\22\ See, e.g., Securities Exchange Act Release Nos. 56778
(November 9, 2007), 72 FR 65113 (November 19, 2007) (SR-AMEX-2007-
100) (approval order to list and trade options on iShares MSCI
Mexico Index Fund; and 55648 (April 19, 2007), 72 FR 20902 (April
26, 2007) (SR-AMEX-2007-09) (approval order to list and trade
options on Vanguard Emerging Markets ETF). See also Securities
Exchange Act Release Nos. 50189 (August 12, 2004), 69 FR 51723
(August 20, 2004) (SR-AMEX-2001-05) (approving the listing and
trading of certain Vanguard International Equity Index Funds); and
44700 (August 14, 2001), 66 FR 43927 (August 21, 2001) (SR-2001-34)
(approving the listing and trading of series of the iShares Trust
based on foreign stock indexes).
\23\ 17 CFR 240.19b-4(e).
\24\ Id.
\25\ 15 U.S.C. 78s(b)(2).
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The Exchange believes that the proposed rule change would promote
transparency surrounding the listing process for options on Commodity-
Based Trust Shares. Exchange listing standards play a critical role in
ensuring transparency in the market. Adopting objective criteria, such
as those that would be applicable for the listing and trading of
options on Commodity-Based Trust Shares would help investors to make
informed decisions about which options to invest in and would provide a
level of transparency that is essential for a well-functioning market.
The Exchange also believes that the standards for listing and
trading options
[[Page 5032]]
on Commodity-Based Trust Shares are reasonably designed to promote a
fair and orderly market for such securities. As ETFs have grown in
popularity, so has the ability to trade options on them. The Exchange
believes the proposed rule change will benefit investors and market
participants generally by shortening the time to list and trade options
on Commodity-Based Trust Shares that have been approved by the
Commission by not requiring the Exchange to submit a separate proposed
rule change. The Exchange believes that the proposed rule change will
facilitate the listing and trading of options on additional ETFs that
will enhance competition among market participants, to the benefit of
investors and the marketplace.
2. Statutory Basis
The Exchange believes that its proposed rule change is consistent
with Section 6(b) of the Act \26\ in general, and furthers the
objectives of Section 6(b)(5) of the Act \27\ in particular, in that it
is designed to promote just and equitable principles of trade, to
remove impediments to and perfect the mechanisms of a free and open
market and a national market system. In particular, the proposed rule
change has the potential to reduce the time frame for bringing options
on Commodity-Based Trust Shares to market, thereby reducing the burdens
on issuers and other market participants, while also promoting
competition among options exchanges, to the benefit of the investing
public. The Exchange believes that enabling the listing and trading of
options on Commodity-Based Trust Shares without requiring a rule filing
under Section 19(b) of the Act \28\ would remove impediments to and
perfect the mechanism of a free and open market and a national market
system.
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\26\ 15 U.S.C. 78f(b).
\27\ 15 U.S.C. 78f(b)(5).
\28\ 15 U.S.C. 78s(b).
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The Exchange believes the proposed rule change will also result in
increased competition as other exchanges will likely adopt an identical
rule to the one proposed by the Exchange that would allow the listing
and trading of options on Commodity-Based Trust Shares that are
approved for trading on those other markets. Multiple listing of ETFs,
options and other securities and competition are some of the central
features of the national market system. The Exchange believes that the
proposal would encourage a more open market and national market system
based on competition and multiple listing.
The proposed rule change adds an additional listing mechanism for
certain qualifying options on ETFs to be listed on the Exchange in a
manner that 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 mechanisms of a free and open market and
a national market system and, in general, to protect investors and the
general public.
The Exchange further believes that the proposed rules applicable to
trading pursuant to generic listing and trading criteria, together with
the Exchange's surveillance procedures applicable to trading in the
securities covered by the proposed rules, serve to remove impediments
to and perfect the mechanism of a free and open market and a national
market system.
The Exchange has an adequate surveillance program in place to
detect manipulative trading in options on Commodity-Based Trust Shares.
The Exchange represents that it and OPRA have the necessary systems
capacity to support new options series that would be listed and traded
pursuant to this proposed rule change.
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. To the contrary, the
Exchange believes that the proposal is, as discussed, pro-competitive
and is a competitive response to the Exchange's inability to list
options on Commodity-Based Trust Shares without submitting a separate
proposed rule change. The Exchange believes the proposed rule change
will result in additional investment options and opportunities to
achieve the investment objectives of market participants seeking
efficient trading and hedging vehicles, to the benefit of investors,
market participants, and the marketplace in general. Competition is one
of the principal features of the national market system. The Exchange
believes that this proposal will expand competitive opportunities to
list and trade products on the Exchange as noted.
The Exchange does not believe the proposal will impose any burden
on intra-market competition, as all market participants will be treated
in the same manner under this proposal. Additionally, the Exchange does
not believe the proposal will impose any burden on inter-market
competition, as nothing prevents the other options exchanges from
proposing similar rules to list and trade options on Commodity-Based
Trust Shares. In fact, the Exchange believes other options exchanges
will adopt an identical rule so that they may also list and trade
options on Commodity-Based Trust Shares without submitting a separate
proposed rule 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
Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
(A) by order approve or disapprove the proposed rule change, or
(B) institute proceedings to determine whether the proposed rule
change should be disapproved.
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
<bullet> Use the Commission's internet comment form (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#d7a5a2bbb2fab4b8babab2b9a3a497a4b2b4f9b0b8a1"><span class="__cf_email__" data-cfemail="057770696028666a6868606b7176457660662b626a73">[email protected]</span></a>. Please include
file number SR-NYSEARCA-2024-06 on the subject line.
Paper Comments
<bullet> 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-2024-06. 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 (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>). Copies of the
[[Page 5033]]
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 a.m. and 3
p.m. Copies of the filing also will be available for inspection and
copying at the principal office of the Exchange. Do not include
personal identifiable information in submissions; you should submit
only information that you wish to make available publicly. We may
redact in part or withhold entirely from publication submitted material
that is obscene or subject to copyright protection. All submissions
should refer to file number SR-NYSEARCA-2024-06 and should be submitted
on or before February 15, 2024.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\29\
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\29\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-01391 Filed 1-24-24; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on January 25, 2024.
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