Notice2024-05632
Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change for Amendments to Rule 7.35 and Rule 7.35B
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
March 18, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 53 (Monday, March 18, 2024)</title>
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[Federal Register Volume 89, Number 53 (Monday, March 18, 2024)]
[Notices]
[Pages 19370-19374]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-05632]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-99719; File No. SR-NYSE-2024-13]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing of Proposed Rule Change for Amendments to Rule 7.35
and Rule 7.35B
March 12, 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 March 1, 2024, New York Stock Exchange LLC (``NYSE'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes amendments to Rule 7.35 (General) and Rule
7.35B (DMM-Facilitated Closing Auctions) to align the definition of
Imbalance Reference Price for a Closing Imbalance; replace the
Regulatory Closing Imbalance with an enhanced Significant Closing
Imbalance; and include Closing D Orders in the Total Imbalance
calculation ten minutes before the scheduled end of Core Trading Hours.
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
The exchange proposes amendments to Rule 7.35 (General) and Rule
7.35B (DMM-Facilitated Closing Auctions) to align the definition of
Imbalance Reference Price for a Closing Imbalance; replace the
Regulatory Closing Imbalance with an enhanced Significant Closing
Imbalance; and include Closing D Orders in the Total Imbalance
calculation ten minutes before the scheduled end of Core Trading Hours.
The proposed changes would enhance the imbalance information that
the Exchange publishes going into the Closing Auction, thereby
promoting greater transparency in the Closing Auction process and the
Exchange's marketplace. Specifically, the Exchange would replace the
Regulatory Closing Imbalance publication based on static criteria with
a ``Significant Closing Imbalance'' based on elastic criteria based on
the recent average close size of the security and the notional value of
the imbalance. Similarly, the Exchange would include Closing D Orders
in the Closing Auction Imbalance Information at their undisplayed
discretionary price ten minutes before the end of Core Trading Hours,
five minutes earlier than currently. The proposed change would also be
reflected in the definition of Paired and Unpaired Quantity, which for
the Closing Auction would include Closing D Orders ten minutes before
the scheduled end of Core Trading Hours.
Finally, the Exchange would align the definition of ``Imbalance
Reference Price'' for a Closing Imbalance with that utilized for
Imbalance Reference Price for the Closing Auction Imbalance Information
in Rule 7.35B(e)(3).
Background
Imbalance information on the Exchange means better-priced orders on
one side of the market compared to both better-priced and at-price
orders on the other side of the market. The Exchange disseminates two
types of Imbalance publications: Total Imbalance and Closing Imbalance.
Total Imbalance information is disseminated for all Auctions, and
Closing Imbalance information is disseminated for the Closing Auction
only.
Beginning ten minutes before the scheduled end of Core Trading
Hours, the Exchange begins disseminating through its proprietary data
feed Closing Auction Imbalance Information that is calculated based on
the interest eligible
[[Page 19371]]
to participate in the Closing Auction.\4\ The Closing Auction Imbalance
Information includes the Continuous Book Clearing Price, which is the
price at which all better-priced orders eligible to trade in the
Closing Auction on the Side of the Imbalance can be traded.\5\ The
Closing Auction Imbalance Information also includes an Imbalance
Reference Price, which is the Exchange Last Sale Price bound by the
Exchange BBO.\6\
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\4\ See Rule 7.35B(e)(1)(A). DMM Orders, as defined in Rule
7.35(a)(9)(B), that have been entered by the DMM in advance of a
Closing Auction are currently included in the Closing Auction
Imbalance Information.
\5\ See Rule 7.35(a)(4)(C). In the case of a buy Imbalance, the
Continuous Book Clearing Price would be the highest potential
Closing Auction Price and in the case of a sell Imbalance, the
Continuous Book Clearing Price would be the lowest potential Closing
Auction Price.
\6\ See Rule 7.35B(e)(3).
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Beginning five minutes before the end of Core Trading Hours,
Closing D Orders are included in the Closing Auction Imbalance
Information at their undisplayed discretionary price.\7\ The Closing
Auction Imbalance Information is updated at least every second, unless
there is no change to the information, and is disseminated until the
Closing Auction begins.\8\ In addition, if at the Closing Auction
Imbalance Freeze Time (e.g., 3:50 p.m. Eastern Time) \9\ the Closing
Imbalance \10\ is 500 round lots or more, the Exchange will disseminate
a Regulatory Closing Imbalance to both the securities information
processor and proprietary data feeds.\11\
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\7\ See Rule 7.35(b)(1)(C)(ii).
\8\ See Rule 7.35(c)(1) and (2).
\9\ See Rule 7.35(a)(8) (defining the ``Closing Auction
Imbalance Freeze Time'' to be 10 minutes before the scheduled end of
Core Trading Hours).
\10\ As defined in Rule 7.35(a)(4)(A)(ii), a ``Closing
Imbalance'' means the Imbalance of MOC and LOC Orders to buy and MOC
and LOC Orders to sell. Rule 7.35(a)(4)(A)(ii) further defines a
``Regulatory Closing Imbalance'' as a Closing Imbalance disseminated
at or after the Closing Auction Imbalance Freeze Time.
\11\ See Rule 7.35B(d)(1).
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Proposed Rule Change
The proposed amendments to Rule 7.35 and Rule 7.35B are the latest
in a series of enhancements the Exchange has made to the transparency
of its marketplace since 2008.\12\ As noted, the proposal would enhance
the imbalance information that the Exchange publishes going into the
Closing Auction, one of the most critical periods in the trading day.
The Exchange's Closing Auction is a recognized industry reference
point,\13\ and member organizations and the investing public receive
substantial benefits from increased liquidity at the close and high
levels of executions at the Exchange's closing price on a daily basis.
Indeed, given today's fragmented marketplace,\14\ the centralized
liquidity available during the Closing Auction is essential for price
discovery and the stability and transparency of the marketplace.
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\12\ In 2010, the Exchange began disseminating Closing Auction
Imbalance Information beginning ten minutes before the scheduled end
of Core Trading Hours, which provides updated imbalance information
and indicative closing prices. See Securities Exchange Act Release
No. 61233 (December 23, 2009), 74 FR 69169 (December 30, 2009) (SR-
NYSE-2009-111) (Approval Order) (``Closing Filing''). See also
Securities Exchange Act Release No. 61616 (March 1, 2010), 75 FR
10533 (March 8, 2010) (SR-NYSE-2010-12) (Notice of Filing of
Extension of Implementation Date of the Closing Filing). In 2019, in
connection with the transition to the Pillar trading platform, the
Exchange amended its rules to include Floor Broker Interest (i.e.,
interest verbalized in the trading crowd by a Floor broker) in
Closing Auction Imbalance Information. In 2020, the Exchange
temporarily suspended the availability of Floor Broker Interest to
be eligible to participate in the Closing Auction, as defined in
Rule 7.35, and in 2021, permanently excluded Floor Broker Interest
from the Closing Auction and required all Floor brokers to enter
orders for the Closing Auction electronically during Core Trading
Hours. See Securities Exchange Act Release No. 92480 (July 23,
2021), 86 FR 40886 (July 29, 2021) (SR-NYSE-2020-95). In 2022, the
Exchange made further changes to the Closing Auction, including
adding price parameters within which the DMM must select a Closing
Auction Price, in order to make the Closing Auction more transparent
and deterministic. See Securities Exchange Act Release No. 95691
(September 7, 2022), 87 FR 56099 (September 13, 2022) (SR-NYSE-2022-
32).
\13\ For example, the pricing and valuation of certain indices,
funds, and derivative products require primary market prints.
\14\ While Regulation NMS has enhanced competition, it has also
fostered a ``fragmented'' market structure where trading in a single
stock can occur across multiple trading centers. When multiple
trading centers compete for order flow in the same stock, the
Commission has recognized that ``such competition can lead to the
fragmentation of order flow in that stock.'' See Securities Exchange
Act Release No. 61358, 75 FR 3594, 3597 (January 21, 2010) (File No.
S7-02-10) (Concept Release on Equity Market Structure).
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Significant Closing Imbalance
The Exchange currently publishes a Regulatory Closing Imbalance at
the Closing Auction Imbalance Freeze Time if the Closing Imbalance is
500 round lots or more. The Exchange would retire the Regulatory
Closing Imbalance based on a static round-lot trigger and instead
publish a Significant Closing Imbalance based on a dynamic formula that
would consider the notional size of the imbalance and the recent
closing activity of the relevant security. As proposed, unless
determined otherwise by the Exchange and announced by Trader Update, a
Closing Imbalance would be considered ``Significant'' if:
<bullet> the Closing Imbalance is equal to or greater than 30
percent of the 20-day Average Closing Size for NYSE-listed securities
in the S&P 500[supreg] Index; 50 percent of the 20-day Average Closing
Size for securities in the S&P 400[supreg] Index and the S&P
600[supreg] Index; or 70 percent of the 20-day Average Closing Size for
all other securities,\15\ and
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\15\ See proposed Rule 7.35B(d)(1)(A).
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<bullet> the notional value of the Closing Imbalance, calculated as
the product of the imbalance quantity and the reference price, is equal
to or greater than $200,000 for S&P and all other securities.\16\
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\16\ See id. at (B).
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For purposes of calculating the proposed Significant Closing
Imbalance, Average Closing Size will be calculated for each symbol
based on the most recent 20 trading days where the security closed on a
last sale eligible trade. For securities with less than the specified
trading data, including but not limited to IPOs, direct listings, and
transfers, the Closing Imbalance will be considered Significant if the
notional value of the Closing Imbalance, calculated as the product of
the imbalance quantity and the reference price, is equal to or greater
than $200,000 for S&P and all other securities or an alternative
specified dollar amount as determined by the Exchange and announced by
Trader Update. Only trading days with an NYSE close will be considered
for purposes of the Significant Closing Imbalance calculation.\17\
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\17\ See id. at (C).
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For example, assume that XYZ is an S&P 400[supreg] Index stock with
a closing imbalance of 35,000 shares and a reference price of $10.00.
Assuming that the 20-day Average Closing Size for XYZ is 100,000
shares, the imbalance would be considered Significant because the
current imbalance of 35,000 shares is greater than 30,000 shares, which
represents 30% of the 100,000 shares, and the notional value of
$350,000 (35,000 shares multiplied by $10.00) is greater than $200,000.
However, if XYZ was a non-S&P Index security, the same imbalance would
not be considered significant because the 35,000 share imbalance would
be less than 70,000 shares, or 70% of 100,000.
To effectuate these changes, the Exchange would replace
``Regulatory'' with ``Significant'' in Rules 7.35 and 7.35B where the
phrase ``Regulatory Closing Imbalance'' appears, i.e., in Rule
7.35(a)(4)(A)(ii) and Rule 7.35B(d), (d)(1), (d)(2), (e)(2), and
(f)(1)(A) and (B).
The Exchange would also delete current subsections (A), (B), and
(C) of Rule 7.35B(d)(1) governing publication of a Regulatory Closing
Imbalance and replace them with new subsections (A), (B), and (C)
setting forth the proposed
[[Page 19372]]
formula for what constitutes a ``Significant'' imbalance. Current Rule
7.35B(d)(1)(B), providing that a Regulatory Closing Imbalance is a one-
time publication that should not be updated, would be retained in
proposed Rule 7.35B(d)(1)(D). The information in current Rule
7.35B(d)(1)(C), providing that a Regulatory Closing Imbalance will be
disseminated at the Closing Auction Imbalance Freeze Time regardless of
whether the security has not opened or is halted or paused at that
time, would be retained in proposed Rule 7.35B(d)(1).
The Exchange believes that publishing imbalance information where
the imbalance is of a size that equals or exceeds a large percentage of
a security's average closing size over the most recent 20 trading days
and is of a high notional value imparts more valuable information to
the marketplace about potential trading anomalies or opportunities than
an imbalance publication based solely on an imbalance size of 500 round
lots or more. As a result, the Exchange believes that publication of
Significant Closing Imbalance information as proposed could facilitate
entry of offsetting orders and the price discovery process on the
Exchange, to the benefit of the marketplace and public investors. In
addition, the Exchange believes that it would be appropriate to retain
flexibility to determine the percentage amounts and notional value in
the formula for what constitutes a Significant Closing Imbalance so
that the Exchange may timely take into consideration market movements
and the changing trading characteristics of different securities.\18\
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\18\ The options markets operated by the Exchange's affiliates
have similar flexibility in their rules to specify different
parameters based on a Trader Update. See, e.g., NYSE Arca, Inc.,
Rules 6.62P-O(a)(3)(C) (specifying the thresholds applicable to
limit order price protection) & 6.64P-O(c) (specifying interval when
Auction Imbalance Information is updated).
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Imbalance Reference Price
Currently, the Closing Auction Imbalance Information includes the
Continuous Book Clearing Price, which is the price at which all better-
priced orders eligible to trade in the Closing Auction on the Side of
the Imbalance can be traded.\19\ The Closing Auction Imbalance
Information also includes an Imbalance Reference Price, which is the
Exchange Last Sale Price bound by the Exchange BBO.\20\ The Imbalance
Reference Price for a Closing Imbalance is currently the Exchange Last
Sale Price.\21\
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\19\ See Rule 7.35(a)(4)(C). In the case of a buy Imbalance, the
Continuous Book Clearing Price would be the highest potential
Closing Auction Price and in the case of a sell Imbalance, the
Continuous Book Clearing Price would be the lowest potential Closing
Auction Price.
\20\ See Rule 7.35B(e)(3).
\21\ See Rule 7.35B(d). See Rule 7.35(a)(12)(B)(defining
``Exchange Last Sale Price'' to mean the most recent trade on the
Exchange of a round lot or more in a security during Core Trading
Hours on that trading day, and if none, the Official Closing Price
from the prior trading day for that security).
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In order to provide the most accurate imbalance information, the
Exchange proposes to align the definition of Imbalance Reference Price
for a Closing Imbalance in Rule 7.35B(d) with the current definition of
Imbalance Reference Price for the Closing Auction Imbalance Information
in Rule 7.35B(e)(3). As proposed, the Imbalance Reference Price for a
Closing Imbalance would be equal to
<bullet> the BB if the Exchange Last Sale Price is lower than the
BB;
<bullet> the BO if the Exchange Last Sale Price is higher than the
BO; or
<bullet> the Exchange Last Sale Price if it is at or between the
BBO or if the security was halted or not opened by the Closing Auction
Imbalance Freeze Time.\22\
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\22\ See proposed Rule 7.35B(d).
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The Exchange believes that the proposal will enhance the value of
the imbalance publication by providing a more accurate depiction of the
market interest available in a security because bounding the Imbalance
Reference Price by the BBO keeps the price in line with actual trading
in that security.
Closing D Orders
Finally, the Exchange proposes to include Closing D Orders earlier
in the imbalance information provided to the marketplace.
As noted above, the Exchange disseminates two types of Imbalance
publications: Total Imbalance and Closing Imbalance. Total Imbalance
information is disseminated for all Auctions, and Closing Imbalance
information is disseminated for the Closing Auction only.
Rule 7.35(a)(4)(A)(i) provides that ``Total Imbalance'' means for
the Core Open and Trading Halt Auctions, the Imbalance of all orders
eligible to participate in an Auction and for the Closing Auction, the
Imbalance of MOC, LOC, and Closing IO Orders, and beginning five
minutes before the scheduled end of Core Trading Hours, Closing D
Orders.
In addition, for the Closing Auction, the Exchange provides
information on the ``Paired Quantity,'' which is the volume of better-
priced and at-priced buy shares that can be paired with better-priced
and at-priced sell shares at the Imbalance Reference Price, and
``Unpaired Quantity,'' meaning the volume of better-priced and at-
priced buy shares that cannot be paired with both at-priced and better-
priced sell shares at the Imbalance Reference Price. Paired and
Unpaired Quantity as defined in Rule 7.35(a)(4)(B)(ii) to include MOC,
LOC, and Closing IO Orders, and beginning five minutes before the
scheduled end of Core Trading Hours, Closing D Orders.
Further, Rule 7.35(b) sets forth general rules for how different
types of orders are ranked for purposes of how they are included in
Auction Imbalance Information or for an Auction allocation. Rule
7.35(b)(1) provides that orders are ranked based on the price at which
they would participate in an Auction. The price at which an order would
be ranked would be used to determine whether it is a better-priced or
an at-priced order. In this regard, beginning five minutes before the
end of Core Trading Hours, the ranked price of a Closing D Order is the
order's undisplayed discretionary price. In addition, under Rule
7.35(b)(2), the working time of a Closing D Order would be the later of
its entry time or five minutes before the end of Core Trading Hours.
The Exchange proposes to amend these rules to reflect the inclusion
of Closing D Orders beginning ten minutes before the scheduled end of
Core Trading Hours. The Exchange believes that earlier inclusion of
this order type in the imbalance information published by the Exchange
would enhance the information available to the marketplace leading into
the Closing Auction. Closing D Orders--Limit Orders with an instruction
to exercise discretion in the Closing Auction up (down) to a designated
undisplayed price \23\--are an extremely versatile order type, and the
Exchange has observed that an increasing proportion of the Closing
Auction is comprised of Closing D Orders.\24\ The Exchange believes
that including Closing D Orders in its publicly disseminated imbalance
information earlier would provide more information to the marketplace
about the volume and type of orders going into the Closing Auction as
well as
[[Page 19373]]
additional time for the market to respond to any auction imbalances.
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\23\ See Rule 7.31(c)(2)(C).
\24\ For instance, in the third quarter of 2021, D Orders
constituted 36.6% of volume in the Closing Auction. As of the third
quarter of 2023, D Orders comprised 42.7% of Closing Auction volume,
more than any other order type. See <a href="https://www.nyse.com/data-insights/nyse-closing-auction-dynamics-2023">https://www.nyse.com/data-insights/nyse-closing-auction-dynamics-2023</a>.
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Because of the technology changes associated with the proposed
changes, the Exchange proposes that, subject to approval of the
proposed rule change, the Exchange will announce the implementation
date of the proposed rule changes by Trader Update. Subject to approval
of this proposed rule change, the Exchange anticipates that such
changes will be implemented before the end of the fourth quarter of
2024.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\25\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\26\ 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 mechanisms of a
free and open market and a national market system and, in general, to
protect investors and the public interest and because it is not
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
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\25\ 15 U.S.C. 78f(b).
\26\ 15 U.S.C. 78f(b)(5).
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The proposed changes to Rule 7.35 and Rule 7.35B relating to
publication of a Significant Closing Imbalance and inclusion of Closing
D Orders in the Exchange's published imbalance five minutes earlier
would enhance the imbalance information that the Exchange publishes and
the total ``mix'' of information available to the marketplace leading
into the Closing Auction, thereby promoting transparency and removing
impediments to and perfecting the mechanisms of a free and open market
and a national market system.
As noted above, the Exchange would retire a Regulatory Closing
Imbalance based on a static round-lot trigger in favor of a Significant
Closing Imbalance based on a dynamic formula that would take into
account the notional size of the imbalance and the recent closing
activity of the impacted security. The Exchange believes that
triggering an imbalance publication based on whether the Closing
Imbalance equals or exceeds a percentage of the recent 20-day average
closing size and a high notional value would provide investors with a
more meaningful depiction of the market interest in a security that
would assist them in trading the imbalance and the Closing Auction in
that security. Further, including Closing D Orders in the Total
Imbalance calculation ten minutes before the scheduled end of Core
Trading Hours would similarly enhance the information available to
investors going into the Closing Auction and could also attract
additional contra-side interest, thereby decreasing volatility and
ultimately contributing to the maintenance of a fair and orderly market
consistent with the protection of investors and the public interest
under Section 6(b)(5) of the Act.\27\
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\27\ 15 U.S.C. 78f(b)(5).
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Allowing the Exchange the flexibility to determine the percentage
amounts and notional value in the formula for what constitutes a
Significant Closing Imbalance permits the Exchange to take market
movements and the characteristics of different securities into
consideration in real-time and update the metrics as needed. The
proposal is also consistent with discretion to announce different
parameters as circumstances warrant by Trader Update that is available
on other exchanges.\28\
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\28\ See note 18, supra.
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Finally, the Exchange believes that determining the Imbalance
Reference Price for a Closing Auction in the same way the Exchange
currently determines the Imbalance Reference Price for the Closing
Auction Imbalance Information would provide a more updated depiction of
the market interest available in a security when the Imbalance
Reference Price is published because bounding the Imbalance Reference
Price by the BBO keeps the price in line with actual trading in that
security. The proposal would also promote consistency in the Exchange's
rulebook, thereby removing impediments to and perfecting the mechanism
of a free and open market and a national market system.
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 enhancing the quality of the imbalance information the
Exchange publishes going into the Closing Auction, thereby promoting
transparency in the Closing Auction process and the Exchange's
marketplace.
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#6715120b024a04080a0a020913142714020449000811"><span class="__cf_email__" data-cfemail="85f7f0e9e0a8e6eae8e8e0ebf1f6c5f6e0e6abe2eaf3">[email protected]</span></a>. Please include
file number SR-NYSE-2024-13 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-NYSE-2024-13. 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 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
[[Page 19374]]
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-NYSE-2024-13 and should be
submitted on or before April 8, 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. 2024-05632 Filed 3-15-24; 8:45 am]
BILLING CODE 8011-01-P
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