Notice2024-21882
Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Price List
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
September 25, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 89 Issue 186 (Wednesday, September 25, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 186 (Wednesday, September 25, 2024)]
[Notices]
[Pages 78397-78401]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-21882]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-101111; File No. SR-NYSE-2024-59]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Its Price List
September 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 September 13, 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
and II below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend its Price List to (1) eliminate the
current Step Up Tier 3 Adding Credit, and (2) adopt a new pricing tier
for Supplemental Liquidity Providers (``SLP'') based on Step Up Tier 3
that offers incremental tiered credits for SLP orders providing
displayed liquidity in Tapes A, B and C Securities that set the
National Best Bid and Offer (``NBBO'') or BBO. The Exchange proposes to
implement the fee changes effective September 13, 2024. 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,
[[Page 78398]]
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 to amend its Price List to (1) eliminate the
current Step Up Tier 3 Adding Credit, and (2) adopt a new pricing tier
for SLPs based on Step Up Tier 3 that offers incremental tiered credits
for SLP orders providing displayed liquidity in Tapes A, B and C
Securities that set the NBBO or BBO.
The proposed changes respond to the current competitive environment
where order flow providers have a choice of where to direct liquidity-
providing orders by offering further incentives for member
organizations to send additional liquidity to the Exchange, especially
aggressively priced orders that improve the market by setting the NBBO
or BBO on the Exchange.
The Exchange proposes to implement the fee changes effective
September 13, 2024.\4\
---------------------------------------------------------------------------
\4\ The Exchange originally filed to amend the Price List on
September 3, 2024 (SR-NYSE-2024-52). SR-NYSE-2024-52 was withdrawn
on September 13, 2024 and replaced by this filing.
---------------------------------------------------------------------------
Background
Current Market and Competitive Environment
The Exchange operates in a highly competitive market. The
Commission has repeatedly expressed its preference for competition over
regulatory intervention in determining prices, products, and services
in the securities markets. In Regulation NMS, the Commission
highlighted the importance of market forces in determining prices and
SRO revenues and, also, recognized that current regulation of the
market system ``has been remarkably successful in promoting market
competition in its broader forms that are most important to investors
and listed companies.'' \5\
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496, 37499 (June 29, 2005) (File No. S7-10-04) (Final
Rule) (``Regulation NMS'').
---------------------------------------------------------------------------
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.'' \6\ Indeed, cash equity trading is currently dispersed
across 16 exchanges,\7\ numerous alternative trading systems,\8\ and
broker-dealer internalizers and wholesalers, all competing for order
flow. Based on publicly-available information, no single exchange
currently has more than 20% market share.\9\ Therefore, no exchange
possesses significant pricing power in the execution of cash equity
order flow. More specifically, the Exchange's share of executed volume
of equity trades in Tapes A, B and C securities is less than 12%.\10\
---------------------------------------------------------------------------
\6\ 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).
\7\ See Cboe U.S. Equities Market Volume Summary, available at
<a href="https://markets.cboe.com/us/equities/market_share">https://markets.cboe.com/us/equities/market_share</a>. See generally
<a href="https://www.sec.gov/fast-answers/divisionsmarketregmrexchangesshtml.html">https://www.sec.gov/fast-answers/divisionsmarketregmrexchangesshtml.html</a>.
\8\ See FINRA ATS Transparency Data, available at <a href="https://otctransparency.finra.org/otctransparency/AtsIssueData">https://otctransparency.finra.org/otctransparency/AtsIssueData</a>. A list of
alternative trading systems registered with the Commission is
available at <a href="https://www.sec.gov/foia/docs/atslist.htm">https://www.sec.gov/foia/docs/atslist.htm</a>.
\9\ See Cboe Global Markets U.S. Equities Market Volume Summary,
available at <a href="https://markets.cboe.com/us/equities/market_share/">https://markets.cboe.com/us/equities/market_share/</a>.
\10\ See id.
---------------------------------------------------------------------------
The Exchange believes that the ever-shifting market share among the
exchanges from month to month demonstrates that market participants can
move order flow, or discontinue or reduce use of certain categories of
products. While it is not possible to know a firm's reason for shifting
order flow, the Exchange believes that one such reason is because of
fee changes at any of the registered exchanges or non-exchange venues
to which the firm routes order flow. Accordingly, competitive forces
compel the Exchange to use exchange transaction fees and credits
because market participants can readily trade on competing venues if
they deem pricing levels at those other venues to be more favorable.
In response to this competitive environment, the Exchange has
established incentives for its member organizations who submit orders
that provide liquidity on the Exchange. The proposed change is designed
to continue to attract additional order flow to the Exchange by further
incentivizing member organizations that are SLPs to submit additional
displayed liquidity to, and quote aggressively in support of the price
discovery process on, the Exchange.
Proposed Rule Change
The Exchange proposes to eliminate and remove the Step Up Tier 3
Adding Credit from the Price List and adopt tiered incremental credits
for SLPs based on the Step Up Tier 3 Adding Credit that reflect
streamlined requirements and higher credits.
Currently, the Exchange provides an incremental $0.0006 credit in
Tapes A, B and C securities for all orders from a qualifying member
organization market participant identifier (``MPID'') \11\ or mnemonic
that sets the NBBO \12\ or a new BBO \13\ if the MPID or mnemonic:
---------------------------------------------------------------------------
\11\ The Exchange proposes to relocate the definition of MPID
from the Step Up Tier 3 Adding Credit to the current Step Up Tier 5
Adding Credit.
\12\ See Rule 1.1(q) (defining ``NBBO'' to mean the national
best bid or offer).
\13\ See Rule 1.1(c) (defining ``BBO'' to mean the best bid or
offer on the Exchange).
---------------------------------------------------------------------------
<bullet> has adding average daily volume (``ADV'') in Tapes A, B
and C Securities as a percentage of Tapes A, B and C CADV,\14\
excluding any liquidity added by a DMM, that is at least 50% more than
the MPID's or mnemonic's Adding ADV in Tapes A, B and C securities in
June 2020 as a percentage of Tapes A, B and C CADV, and
---------------------------------------------------------------------------
\14\ The terms ``ADV'' and ``CADV'' are defined in footnote * of
the Price List.
---------------------------------------------------------------------------
<bullet> is affiliated with an SLP that has an Adding ADV in Tape A
securities at least 0.10% of NYSE CADV, and
<bullet> has Adding ADV in Tape A securities as a percentage of
NYSE CADV, excluding any liquidity added by a DMM, that is at least
0.20%
The credit is in addition to the MPID's or mnemonic's current
credit for adding liquidity and does not count toward the combined
limit on SLP credits of $0.0032 per share provided for in the
incremental credit per share for affiliated SLPs whereby SLPs can
qualify for incremental credits of $0.0001, $0.0002 or $0.0003.
As noted above, the Exchange proposes to eliminate this credit and
related requirements in their entirety and adopt a more streamlined SLP
incremental credit that would be set forth in the section of the Price
List titled ``Credit Applicable to Supplemental Liquidity Providers
(``SLPs'')'' under the new proposed heading titled ``SLP Incremental
Credit.''
As proposed, there would be two SLP setter tiers. Under proposed
SLP Setter Tier 1, an SLP that has
<bullet> Adding ADV in Tape A securities of at least 0.08% of NYSE
CADV, and
<bullet> Adding ADV setting the NBBO or BBO as a percentage of Tape
A, B and C CADV combined of at least 0.35%
would be eligible to receive an incremental credit of $0.0008 per share
for adding orders that set the NBBO or BBO in Tape A securities and an
incremental credit of $0.0006 per share
[[Page 78399]]
for adding orders that set the NBBO or BBO in Tape B and C Securities.
Under proposed SLP Setter Tier 2, an SLP that has Adding ADV in
Tape A securities of at least 0.08% of NYSE CADV would receive an
incremental credit of $0.0007 per share for adding orders that set the
NBBO or BBO in Tape A securities and an incremental credit of $0.0006
per share for adding orders that set the NBBO or BBO in Tape B and C
Securities.
Like the Step Up Tier 3 Adding Credit the Exchange would eliminate,
the proposed incremental credits do not count toward the combined limit
on SLP credits of $0.0032 per share provided for in the SLP Adding
Tiers whereby SLPs can qualify for incremental credits of $0.0001,
$0.0002 or $0.0003.
The purpose of this proposed change is to incentivize member
organizations that are SLPs to increase aggressively priced liquidity-
providing orders that improve the market by setting the NBBO or BBO.
The proposed SLP Incremental Credit is thus intended to encourage
higher levels of liquidity, which would support the quality of price
discovery on the Exchange and is consistent with the overall goals of
enhancing market quality. As noted above, the Exchange operates in a
competitive environment, particularly as it relates to attracting non-
marketable orders, which add liquidity to the Exchange. Because the
proposed tier enables an SLP to receive an per share credit if the SLP
meets certain trading qualifications and establishes the NBBO or BBO on
the Exchange, the Exchange believes that the proposed credit would
provide an incentive for SLPs and their affiliates to send additional
liquidity to the Exchange to set the NBBO or BBO in order to qualify
for it.
The Exchange does not know how much order flow member organizations
choose to route to other exchanges or to off-exchange venues. Since the
proposed SLP incremental credit is new, the Exchange does not know how
many SLPs could qualify for the proposed tiered credits based on their
current trading profile on the Exchange. Without having a view of
member organization's activity on other exchanges and off-exchange
venues, the Exchange has no way of knowing whether this proposed rule
change would result in any SLP directing orders to the Exchange in
order to qualify for the new setting tier.
Finally, the Exchange would relocate the cap for the maximum
average number of shares per day for the billing month in calculating
the average monthly CADV for purposes of the Step Up Adding Tier 3 to
the General section at the end of the SLP section of the Price List
without substantive change.
The proposed changes are not otherwise intended to address other
issues, and the Exchange is not aware of any significant problems that
market participants would have in complying with the proposed changes.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\15\ in general, and furthers the
objectives of Sections 6(b)(4) and (5) of the Act,\16\ in particular,
because it provides for the equitable allocation of reasonable dues,
fees, and other charges among its members, issuers and other persons
using its facilities and does not unfairly discriminate between
customers, issuers, brokers or dealers.
---------------------------------------------------------------------------
\15\ 15 U.S.C. 78f(b).
\16\ 15 U.S.C. 78f(b)(4) & (5).
---------------------------------------------------------------------------
As discussed above, the Exchange operates in a highly competitive
market. The Commission has repeatedly expressed its preference for
competition over regulatory intervention in determining prices,
products, and services in the securities markets. In Regulation NMS,
the Commission highlighted the importance of market forces in
determining prices and SRO revenues and, also, recognized that current
regulation of the market system ``has been remarkably successful in
promoting market competition in its broader forms that are most
important to investors and listed companies.'' \17\ 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.'' \18\
---------------------------------------------------------------------------
\17\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37495, 37499 (June 29, 2005) (S7-10-04) (Final Rule)
(``Regulation NMS'').
\18\ 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).
---------------------------------------------------------------------------
The Proposed Change Is Reasonable
The Exchange believes that a new SLP Incremental Credit is
reasonable. Specifically, the Exchange believes that the proposed
incremental credits offer streamlined requirements and higher credits
than the current Step Up Tier 3 Adding Credit, and thus would provide
an additional incentive for more SLPs to receive an incremental per
share credit if the SLP sets the NBBO or BBO on the Exchange and meet
certain Adding ADV requirements. The proposed incremental credit would
thus provide incentives to member organizations that are SLPs to
provide aggressively priced orders that improve the market by setting
the NBBO or BBO on the Exchange and to send additional liquidity
providing orders to the Exchange in Tape A, B and C securities. To the
extent that the proposed change leads to an increase in overall
liquidity activity on the Exchange and more competitive pricing, this
will improve the quality of the Exchange's market, improve quote
spreads and increase its attractiveness to existing and prospective
participants.
As noted above, the Exchange operates in a highly competitive
environment, particularly for attracting non-marketable order flow that
provides liquidity on a public exchange. The Exchange believes it is
reasonable to provide higher credits for orders that provide additional
liquidity. Moreover, the Exchange believes that providing an
incrementally higher credit for adding orders that set the NBBO or the
BBO is reasonable because it would encourage additional aggressively
priced displayed liquidity on the Exchange and because market
participants benefit from the greater amounts of liquidity and narrower
spreads present on the Exchange. Further, the Exchange believes that
requiring member organizations to meet specific Adding ADV requirements
as an SLP in order to qualify for the incremental credit is also
reasonable because it would encourage additional displayed liquidity on
the Exchange and because market participants benefit from the greater
amounts of liquidity and narrower spreads present on the Exchange.
Since the proposed SLP Incremental Credit would be new, no member
organization currently qualifies for the proposed pricing tiers. As
previously noted, without a view of member organization activity on
other exchanges and off-exchange venues, the Exchange has no way of
knowing whether the proposed rule change would result in any SLP
qualifying for the tiers. The Exchange believes the proposed credit is
reasonable as it would provide an additional incentive for SLPs to
direct their order flow to the Exchange and provide meaningful added
levels of liquidity in order to qualify for the higher incremental
credits, thereby contributing to depth and market quality on the
Exchange. Finally, the Exchange believes that excluding the
[[Page 78400]]
proposed incremental credits for NBBO and BBO setting adding volume
from the $0.0032 limit for SLP credits will continue to incentivize
improved quoting and tighter spreads. The Exchange notes that all other
adding orders from those qualifying SLPs will continue to subject to
the $0.0032 limit.
The Proposal is an Equitable Allocation of Fees
The Exchange believes the proposal equitably allocates fees and
credits among market participants because all member organizations that
participate on the Exchange may qualify for the proposed credits and
fees on an equal basis. The Exchange believes its proposal equitably
allocates its fees and credits among its market participants by
fostering liquidity provision and stability in the marketplace.
The Exchange believes that by streamlining the requirements, the
proposed SLP Incremental Credit will better allocate the proposed
credits fairly among market participants and will incentivize more
member organizations to send adding SLP liquidity to the Exchange,
which in turn supports the quality of price discovery on the Exchange.
The proposed tier will allow SLPs to qualify for a credit by adding
liquidity and setting the NBBO or BBO at the stated levels in the
requirements. The Exchange believes the proposed rule change would
improve market quality for all market participants on the Exchange and,
as a consequence, attract more liquidity to the Exchange, thereby
improving market-wide quality and price discovery. It is equitable for
the Exchange to add additional incentives for member organizations to
receive a credit when their orders add liquidity to the Exchange as a
means of incentivizing increased liquidity adding activity. An increase
in overall liquidity on the Exchange will improve the quality of the
Exchange's market and increase its attractiveness to existing and
prospective participants.
The Exchange believes that requiring a member organization's SLP to
have specific Adding and Setting ADV requirements in order to qualify
for the proposed credits would also encourage additional displayed
liquidity on the Exchange. Since the proposed SLP Incentive Tier would
be new, no SLP currently qualifies for it. As noted, without a view of
member organization activity on other exchanges and off-exchange
venues, the Exchange has no way of knowing whether this proposed rule
change would result in any SLP qualifying for the tiers. All member
organizations that are SLPs or apply to be SLPs would be eligible to
qualify for the proposed incremental credits if their SLP liquidity
meets the Adding ADV requirements in Tapes A, B and C securities. Any
market participant that is dissatisfied with the proposed new credit is
free to shift order flow to competing venues that provide more
favorable pricing or less stringent qualifying criteria. All such
member organizations would continue to be subject to the same fee
structure, and access to the Exchange's market would continue to be
offered on fair and nondiscriminatory terms.
The Exchange believes that offering an incremental credit for
setting the NBBO or BBO will encourage higher levels of liquidity
provision in the price discovery process and is consistent with the
overall goals of enhancing market quality, thereby providing additional
price improvement opportunities on the Exchange and benefiting
investors generally. As to those market participants that do not
presently qualify for the adding liquidity credits, the proposal will
not adversely impact their existing pricing or their ability to qualify
for other credits provided by the Exchange.
The Proposal is Not Unfairly Discriminatory
The Exchange believes that the proposal is not unfairly
discriminatory. In the prevailing competitive environment, member
organizations are free to disfavor the Exchange's pricing if they
believe that alternatives offer them better value.
The Exchange believes it is not unfairly discriminatory to provide
additional per share credits for activity that encourages the setting
of the NBBO or BBO on the Exchange as the proposed credits would be
provided on an equal basis to all member organizations that are SLPs or
that choose to become SLPs and that add liquidity by meeting the new
proposed requirements, who would all be eligible for the same credits
on an equal and non-discriminatory basis. Accordingly, no member
organization already operating on the Exchange would be disadvantaged
by the proposed allocation of fees. As noted, the Exchange intends for
the proposal to improve market quality on the Exchange and by extension
attract more liquidity to the market, thereby improving market wide
quality and price discovery. The Exchange also believes that the
proposed change is not unfairly discriminatory because it is reasonably
related to the value to the Exchange's market quality associated with
higher volume. Further, as noted, the Exchange believes the proposal
would provide an incentive for member organizations that are SLPs to
continue to send orders that provide liquidity to the Exchange, to the
benefit of all market participants. Further, it should be noted that
the submission of orders to the Exchange is optional for member
organizations in that they could choose whether to submit orders to the
Exchange and, if they do, the extent of its activity in this regard.
Finally, the Exchange believes that it is subject to significant
competitive forces, as described below in the Exchange's statement
regarding the burden on competition.
For the foregoing reasons, the Exchange believes that the proposal
is consistent with the Act.
B. Self-Regulatory Organization's Statement on Burden on Competition
In accordance with Section 6(b)(8) of the Act,\19\ the Exchange
believes that the proposed rule change would not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. Instead, as discussed above, the Exchange believes
that the proposed changes would encourage the submission of additional
liquidity to a public exchange, thereby promoting market depth, price
discovery and transparency and enhancing order execution opportunities
for member organizations. As a result, the Exchange believes that the
proposed change furthers the Commission's goal in adopting Regulation
NMS of fostering integrated competition among orders, which promotes
``more efficient pricing of individual stocks for all types of orders,
large and small.'' \20\
---------------------------------------------------------------------------
\19\ 15 U.S.C. 78f(b)(8).
\20\ See Regulation NMS, 70 FR at 37498-99.
---------------------------------------------------------------------------
Intramarket Competition. The proposed change is designed to attract
additional order flow to the Exchange. The Exchange believes that the
proposed changes would continue to incentivize market participants to
direct order flow to the Exchange. Greater liquidity benefits all
market participants on the Exchange by providing more trading
opportunities and encourages member organizations to send orders,
thereby contributing to robust levels of liquidity, which benefits all
market participants on the Exchange. The proposed credits would be
available to all similarly-situated market participants, and, as such,
the proposed change would not impose a disparate burden on competition
among market participants on the Exchange. As noted, the proposal would
apply to all similarly situated member organizations on the same and
equal terms, who
[[Page 78401]]
would benefit from the changes on the same basis. Accordingly, the
proposed change would not impose a disparate burden on competition
among market participants on the Exchange.
Intermarket Competition. The Exchange operates in a highly
competitive market in which market participants can readily choose to
send their orders to other exchange and off-exchange venues if they
deem fee levels at those other venues to be more favorable. In such an
environment, the Exchange must continually adjust its fees and rebates
to remain competitive with other exchanges and with off-exchange
venues. Because competitors are free to modify their own fees and
credits in response, and because market participants may readily adjust
their order routing practices, the Exchange does not believe its
proposed fee change can impose any burden on intermarket competition.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective upon filing pursuant
to Section 19(b)(3)(A) \21\ of the Act and paragraph (f)(2) of Rule
19b-4 thereunder. At any time within 60 days of the filing of the
proposed rule change, the Commission summarily may temporarily suspend
such rule change if it appears to the Commission that such action is
necessary or appropriate in the public interest, for the protection of
investors, or otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------
\21\ 15 U.S.C. 78s(b)(3)(A).
---------------------------------------------------------------------------
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#3143445d541c525e5c5c545f4542714254521f565e47"><span class="__cf_email__" data-cfemail="295b5c454c044a4644444c475d5a695a4c4a074e465f">[email protected]</span></a>. Please include
file number SR-NYSE-2024-59 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-2024-59. 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
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-2024-59 and should be
submitted on or before October 16, 2024.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
---------------------------------------------------------------------------
\22\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-21882 Filed 9-24-24; 8:45 am]
BILLING CODE 8011-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on September 25, 2024.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.