Notice2026-00911
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
January 20, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 12 (Tuesday, January 20, 2026)</title>
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[Federal Register Volume 91, Number 12 (Tuesday, January 20, 2026)]
[Notices]
[Pages 2400-2401]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-00911]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-104599; File No. SR-NYSE-2026-01]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend its Price List
January 14, 2026.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on January 2, 2026, 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\ 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 its Price List to delete pricing
that is no longer in effect. The proposed rule change is available on
the Exchange's website at <a href="http://www.nyse.com">www.nyse.com</a> and at the principal office of
the Exchange.
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 to amend its Price List to delete Gross FOCUS
fee related pricing that is no longer in effect.
The Exchange proposes to implement the fee changes effective
January 2, 2026.
Background and Proposed Rule Change
In September 2025, the Exchange waived the Gross FOCUS Fee from
September 2, 2025, through December 31, 2025, in order to help ensure
that the amounts collected from the Gross FOCUS Fee, in combination
with other regulatory fees and fines, did not exceed the Exchange's
total projected Regulatory Costs.\3\ The Exchange added text to the
Price List describing the waiver and providing that the Exchange would
assessing the monthly fee of $0.11 fee per $1,000 of gross revenue
reported on its FOCUS Report as of January 1, 2026. The Exchange
proposes to delete this text as obsolete.
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\3\ See Securities Exchange Act Release No. 103971 (September
15, 2025), 90 FR 45064 (September 18, 2025) (SR-NYSE-2025-35).
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The Exchange believes the proposed change would improve the clarity
of Price List by removing obsolete text,
[[Page 2401]]
thereby obviating potential confusion regarding pricing currently in
effect.
The proposed change is 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,\4\ in general, and furthers the
objectives of Sections 6(b)(4) and (5) of the Act,\5\ 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.
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\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(4) & (5).
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The Proposed Change Is Reasonable
The Exchange believes the proposed elimination of text in the Price
List describing pricing that is no longer applicable to any member
organizations is reasonable because it would improve the clarity of the
Price List and reduce confusion as to which fees and credits are
applicable on the Exchange. The Exchange believes that amending the
Price List to remove obsolete pricing would further the protection of
investors and the public interest by promoting clarity and transparency
in the Price List and making the Price List easier to navigate and
understand.
The Proposal Is an Equitable Allocation of Fees
The Exchange believes the proposed change supports an equitable
allocation of fees and credits among its market participants because it
would eliminate obsolete text from the Price List describing pricing
programs that are no longer applicable to any market participants.
Accordingly, the Exchange believes the proposal would impact all
similarly situated member organizations on an equal basis. The Exchange
also believes that the proposed change would promote investor
protection and the public interest because the deletion of expired
pricing programs from the Price List would enhance the clarity of the
Price List and reduce confusion regarding fees and credits currently
applicable to market participants who transact on the Exchange.
The Proposal Is Not Unfairly Discriminatory
The Exchange believes that the proposal is not unfairly
discriminatory because it neither targets nor will it have a disparate
impact on any category of market participant. The proposed elimination
of obsolete pricing would affect all market participants on an equal
and non-discriminatory basis, as the programs with which such pricing
is associated are no longer available to any market participants. The
Exchange also believes that the proposed change would protect investors
and the public interest because the deletion of expired waiver language
would facilitate market participants' understanding of the pricing
currently applicable on the Exchange.
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,\6\ 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 proposed change
relates solely to the elimination of obsolete pricing associated with
expired pricing and, accordingly, would not have any impact on
intramarket or intermarket competition. The proposed change is designed
to ensure that the Price List accurately reflects pricing currently
effective on the Exchange, thereby adding clarity to the Price List to
the benefit of all market participants.
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\6\ 15 U.S.C. 78f(b)(8).
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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
Pursuant to Section 19(b)(3)(A)(ii) of the Act,\7\ and Rule 19b-
4(f)(2) thereunder \8\ the Exchange has designated this proposal as
establishing or changing a due, fee, or other charge imposed on any
person, whether or not the person is a member of the self-regulatory
organization, which renders the proposed rule change effective upon
filing. 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.
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\7\ 15 U.S.C. 78s(b)(3)(A)(ii).
\8\ 17 CFR 240.19b-4.
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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="http://www.sec.gov/rules/sro.shtml">http://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#93e1e6fff6bef0fcfefef6fde7e0d3e0f6f0bdf4fce5"><span class="__cf_email__" data-cfemail="0f7d7a636a226c6062626a617b7c4f7c6a6c21686079">[email protected]</span></a>. Please include
File Number SR-NYSE-2026-01 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-2026-01. 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 filing 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-2026-01 and
should be submitted on or before February 10, 2026.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
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\9\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2026-00911 Filed 1-16-26; 8:45 am]
BILLING CODE 8011-01-P
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