Notice2025-07216
Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change for Conforming Rules 7.37E and 7.45E
Primary source
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Published
April 28, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 80 (Monday, April 28, 2025)</title>
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[Federal Register Volume 90, Number 80 (Monday, April 28, 2025)]
[Notices]
[Pages 17656-17658]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-07216]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102903; File No. SR-NYSEAMER-2025-24]
Self-Regulatory Organizations; NYSE American LLC; Notice of
Filing and Immediate Effectiveness of Proposed Change for Conforming
Rules 7.37E and 7.45E
April 22, 2025.
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 April 14, 2025, NYSE American LLC (``NYSE American'' 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 conforming changes to Rules 7.37E and 7.45E
to reflect the name change of ``NYSE Chicago, Inc.,'' to ``NYSE Texas,
Inc.'' 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
[[Page 17657]]
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 conforming changes to Rule 7.37E (Order
Execution and Routing) and Rule 7.45E (Operation of a Routing Broker)
to reflect the name change of ``NYSE Chicago, Inc.,'' to ``NYSE Texas,
Inc.''
Background and Proposed Rule Change
The Exchange's affiliate NYSE Chicago, Inc. (``NYSE Chicago'')
recently converted from a corporation organized under the laws of the
state of Delaware to one organized under the laws of the state of Texas
and changed its name to ``NYSE Texas, Inc.'' \4\ The Exchange
accordingly proposes conforming changes to its rules to reflect its
affiliate's name change. Specifically, the Exchange proposes to replace
one reference to ``Chicago'' in Rule 7.37E(d) with ``Texas.''
Similarly, the Exchange proposes replacing three references to
``Chicago'' in Rule 7.45E(c)(1) with ``Texas'' and three references to
``Chicago'' in Rule 7.45E(c)(2) with ``Texas.''
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\4\ See Securities Exchange Act Release No. 102507 (February 28,
2025), 90 FR 11445 (March 6, 2025) (SR-NYSECHX-2025-01) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Repeal
the Exchange's Certificate of Incorporation; Adopt the Certificate
of Formation of NYSE Texas, Inc.; Amend the Exchange's By-Laws,
Rules, and Certain Fee Schedules; and Amend the Certificate of
Incorporation and By-Laws of the Exchange's Holding Company To
Reflect the Conversion of the Exchange to a Texas Corporation and
the Renaming of NYSE Chicago Holdings, Inc.).
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The proposed changes are conforming and non-substantive in nature.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) of the
Act,\5\ in general, and furthers the objectives of Section 6(b)(1) \6\
in particular, in that it enables the Exchange to be so organized as to
have the capacity to be able to carry out the purposes of the Act and
to comply, and to enforce compliance by its exchange members and
persons associated with its exchange members, with the provisions of
the Act, the rules and regulations thereunder, and the rules of the
Exchange. The Exchange also believes that the proposed rule change is
consistent with Section 6(b)(5) \7\ of the Act in that it is designed
to promote just and equitable principles of trade, to foster
cooperation and coordination with persons engaged in facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system and,
in general, to protect investors and the public interest.
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\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(1).
\7\ 15 U.S.C. 78f(b)(5).
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The proposed non-substantive changes would enable the Exchange to
continue to be so organized as to have the capacity to carry out the
purposes of the Act and comply and enforce compliance with the
provisions of the Act by its members and persons associated with its
members, because ensuring that the Exchange's rules accurately reflects
the correct name of the Exchange's affiliate would contribute to the
orderly operation of the Exchange by adding clarity and transparency.
In addition, the proposed amendments would reduce potential investor
and market participant confusion and therefore remove impediments to
and perfect the mechanism of a free and open market and a national
market system by ensuring that investors and market participants can
more easily navigate, understand and comply with the Exchange's rules.
The Exchange also believes that the proposed amendments remove
impediments to and perfects the mechanism of a free and open market by
ensuring that persons subject to the Exchange's jurisdiction,
regulators, and the investing public can more easily navigate and
understand the Exchange's rules. The proposed amendments would not be
inconsistent with the public interest and the protection of investors
because investors will not be harmed and in fact would benefit from the
increased transparency and clarity, thereby reducing potential
confusion.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed rule change is
not intended to address competitive issues but rather is concerned
solely with updating the Exchange's rules to reflect its affiliate's
name 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
The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\
Because the foregoing proposed rule change does not: (i) significantly
affect the protection of investors or the public interest; (ii) impose
any significant burden on competition; and (iii) become operative for
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, it has become effective pursuant to
Section 19(b)(3)(A)(iii) of the Act \10\ and subparagraph (f)(6) of
Rule 19b-4 thereunder.\11\
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\8\ 15 U.S.C. 78s(b)(3)(A)(iii).
\9\ 17 CFR 240.19b-4(f)(6).
\10\ 15 U.S.C. 78s(b)(3)(A)(iii).
\11\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \12\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\12\ 15 U.S.C. 78s(b)(2)(B).
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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
[[Page 17658]]
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#3644435a531b55595b5b535842457645535518515940"><span class="__cf_email__" data-cfemail="4331362f266e202c2e2e262d3730033026206d242c35">[email protected]</span></a>. Please include
file number SR-NYSEAMER-2025-24 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-NYSEAMER-2025-24. 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-NYSEAMER-2025-24 and should
be submitted on or before May 19, 2025.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-07216 Filed 4-25-25; 8:45 am]
BILLING CODE 8011-01-P
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