Notice2026-08469
Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Amend Rules 353 and 931NY
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Published
May 1, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 84 (Friday, May 1, 2026)</title>
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[Federal Register Volume 91, Number 84 (Friday, May 1, 2026)]
[Notices]
[Pages 23474-23476]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-08469]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-105323; File No. SR-NYSEAMER-2026-29]
Self-Regulatory Organizations; NYSE American LLC; Notice of
Filing and Immediate Effectiveness of Proposed Change To Amend Rules
353 and 931NY
April 28, 2026.
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 13, 2026, 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 to amend Rules 353 and 931NY to eliminate
certain of the Exchange's publication obligations as outdated and
unnecessary. 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 Rules 353 (American Trading Permit
Requirements), and 931NY (Registration of Floor Brokers) to eliminate
certain of the Exchange's publication obligations as outdated and
unnecessary. The Exchange also proposes related conforming changes to
Rules 452 (Equities. Giving Proxies by Member Organizations) and 459
(Equities. Other Persons to File Information When Associate with
Member).
Rule 353 describes the procedure for applying for status as an
American Trading Permit (``ATP'') Holder on the Exchange. Subparagraph
(2) under the ``Admissions Procedure'' section of Rule 353 provides
that, in connection with an application for an ATP, there is a minimum
posting period of seven days, which period may be extended by the
Exchange when necessary, and that notice of the proposed issuance of an
ATP must be posted in the Exchange's Weekly Bulletin. This subparagraph
further provides that the minimum posting period will be waived for
prior active members. The Exchange proposes to delete the posting
requirement set forth in this subparagraph (and to renumber the
remaining subparagraphs accordingly) because the Exchange no longer
accepts comments from ATP Holders in connection with the ATP
application process; instead, the Exchange's decisions regarding such
applications are based on objective criteria set forth in its rules.\4\
The Exchange also currently maintains on its website an up-to-date
online directory listing the name and contact information of each OTP
Holder or OTP Firm (the ``Membership Directory'').\5\ The Exchange
believes that the Membership Directory, which is publicly available,
has rendered the requirement to separately publish the names of newly
approved ATP Holders redundant and inefficient. Accordingly, the
Exchange believes that the requirements to post the names of ATP
applicants and publish such names in the Weekly Bulletin are no longer
necessary or relevant and proposes to delete these requirements to
eliminate an unnecessary burden on Exchange resources.\6\
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\4\ See, e.g., Rule 353 (American Trading Permit Requirements).
\5\ See Membership Directory, available at: <a href="https://www.nyse.com/trade/membership#directories">https://www.nyse.com/trade/membership#directories</a>.
\6\ The Exchange previously filed to delete references to the
Weekly Bulletin in its rules where the information that would have
been reflected therein would be available on is website. See
Securities Exchange Act Release No. 56947 (December 12, 2007), 72 FR
72419 (December 20, 2007) (SR-Amex-2007-134). The Exchange's
affiliate, NYSE Arca, Inc. (``NYSE Arca''), recently eliminated
similar requirements to post the names of Options Trading Permit
(``OTP'') applicants and publish the names of new OTP Holders and
OTP Firms in its Weekly Bulletin. See Securities Exchange Act
Release No. 105043 (March 18, 2026), 91 FR 13898 (March 23, 2026)
(SR-NYSEARCA-2026-29) (Notice of Filing and Immediate Effectiveness
of a Proposed Rule Change To Amend Rules 2.4, 2.6, and 6.44-O To
Eliminate Certain Outdated Publication Obligations). The Exchange
further notes that Cboe Exchange, Inc. (``Cboe Options'') similarly
no longer requires the publication of Trading Permit Holder
applicants in its weekly bulletin or the posting of such applicants
on its bulletin board. See Securities Exchange Act Release No. 71436
(January 29, 2014), 79 FR 6662 (February 4, 2014) (SR-CBOE-2014-
009).
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Rule 931NY(a) requires that an applicant for registration as a
Floor Broker must file an application in writing with the Exchange on
such form or forms as the Exchange may prescribe and must pass a Floor
Broker examination prescribed by the Exchange. The rule further
provides that, before a registration becomes effective, the Exchange
will post the name of the applicant on the bulletin board on the Floor
of the Exchange for three business days. The Exchange proposes to
delete the posting requirement as set forth in Rule 931NY(a) because
the Exchange no longer accepts comments in connection with Floor Broker
applications; instead, the Exchange's decisions regarding such
applications are based solely upon objective criteria set forth in its
rules.\7\
[[Page 23475]]
Accordingly, the Exchange believes the posting of the names of not-yet-
approved Floor Broker applicants is no longer necessary or relevant.\8\
The Exchange therefore proposes to delete the portion of Rule 931NY(a)
noted above, for the same reasons discussed above for the proposed
deletion of subparagraph (2) under the ``Admissions Procedures''
section of Rule 353. The Exchange further notes that, as with ATP
Holders, the Exchange currently maintains an up-to-date list of Floor
Brokers in the Membership Directory on its website, which includes the
names of each Floor Broker firm and contact information.\9\
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\7\ Per Rule 931NY(a), in addition to submitting a written
application with the Exchange on such form or forms as the Exchange
may prescribe, prospective Floor Brokers must pass a Floor Broker
examination prescribed by the Exchange, which objective standard
must be met for registration approval.
\8\ The Exchange notes that NYSE Arca also recently eliminated a
similar requirement with respect to the posting of Floor Broker
applicants' names. See Securities Exchange Act Release No. 105043
(March 18, 2026), 91 FR 13898 (March 23, 2026) (SR-NYSEARCA-2026-29)
(Notice of Filing and Immediate Effectiveness of a Proposed Rule
Change To Amend Rules 2.4, 2.6, and 6.44-O To Eliminate Certain
Outdated Publication Obligations). The Exchange further notes that
it has consulted the Floor Broker registration rules of other
options exchanges that have a physical trading floor and determined
that none include a similar posting requirement. See, e.g., Nasdaq
Phlx LLC, Options 8, Section 6 (Registration of Floor Brokers); Cboe
Options Rule 3.50(b) (Floor Brokers, Registration); BOX Exchange LLC
Rule 7550 (Registration of Floor Brokers); MIAX Sapphire Options
Exchange Rule 2020 (Registration of Floor Brokers).
\9\ See note 5, supra.
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Finally, with the proposed elimination of the publication and
posting requirements in Rules 353 and 931NY as described above and
given that the Exchange posts information relevant to market
participants on its publicly available website, the Exchange also
proposes to discontinue publication of the Weekly Bulletin and use of a
physical bulletin board on the Trading Floor.\10\ To effect this
change, the Exchange proposes to replace references to the Weekly
Bulletin in Rules 452 and 459 with references to the Exchange's
website, where the information referenced in such rules will continue
to be available.
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\10\ As noted above, the Exchange has previously eliminated
references to the Weekly Bulletin in its rules where the information
was available to market participants via its website, and both NYSE
Arca and Cboe Options have similarly eliminated requirements to
publish or post information in a weekly bulletin and/or on a
physical bulletin board, based on the availability of such
information via the exchange's website. See note 6, supra.
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2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\11\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\12\ in particular, because 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 regulating,
clearing, settling, processing information with respect to, and
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,
and because it is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
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\11\ 15 U.S.C. 78f(b).
\12\ 15 U.S.C. 78f(b)(5).
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The Exchange believes the proposed rule change would remove
impediments to, and perfect the mechanism of, a free and open market
and a national market system because it eliminates publication and
posting requirements that are outdated, unduly burdensome, and
redundant of information publicly available on the Exchange's website.
With respect to the posting requirements for ATP and Floor Broker
applicants, as set forth in Rules 353 and 931NY(a), respectively, the
Exchange believes that the original rationale for posting such
information--to put market participants on notice of certain
applications and provide them an opportunity to submit comments to the
Exchange regarding such applications--is no longer relevant, given that
the Exchange no longer accepts such comments. Instead, as noted above,
the Exchange evaluates ATP Holder and Floor Broker applications based
on objective criteria set forth in Exchange rules. The Exchange thus
believes that eliminating these requirements would streamline Exchange
rules, while promoting clarity and transparency as to the Exchange's
practices with respect to evaluating such applications. The Exchange
also believes that the elimination of the requirement, as set forth in
Rule 353, to publish new ATP Holders in the Exchange's Weekly Bulletin
is similarly unnecessary given that the Exchange maintains an up-to-
date Membership Directory on its website, which makes publicly
available to market participants the names of approved ATP Holders.
Thus, the Exchange believes the proposed change would likewise
streamline Exchange rules by removing unnecessary and outdated
requirements. Finally, the Exchange believes that the proposed change
to discontinue publication of the Weekly Bulletin and use of a physical
bulletin board on the Trading Floor would similarly remove impediments
to, and perfect the mechanism of, a free and open market and a national
market system because it would reduce an administrative burden on the
Exchange without impacting the continued availability of relevant
information to market participants via the Exchange's website.
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 Exchange believes that
the proposed rule change will not impose an undue burden on intramarket
competition because the changes will impact all similarly situated
market participants equally. The Exchange believes that the proposed
rule change will not impose an undue burden on intermarket competition
because it is intended to streamline Exchange rules by removing
unnecessary and outdated requirements that other exchanges have
similarly eliminated or otherwise do not have in their rules.\13\
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\13\ See notes 6 & 8, supra.
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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
The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \14\ and Rule 19b-4(f)(6) thereunder.\15\
Because the 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 prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
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\14\ 15 U.S.C. 78s(b)(3)(A)(iii).
\15\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires the Exchange to give the Commission written notice of the
Exchange's 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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[[Page 23476]]
A proposed rule change filed under Rule 19b-4(f)(6) \16\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\17\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing. In the filing, the
Exchange stated the proposed changes are intended to eliminate posting
and publication requirements that are no longer relevant or necessary
based on the Exchange's current processes for evaluating ATP and Floor
Broker applications and/or that are redundant of information publicly
available on the Exchange's website. The Exchange further states that
it believes that the proposed change is not controversial and will not
impose an undue burden on competition because it is intended to
streamline Exchange rules by removing unnecessary and outdated
requirements that other exchanges have similarly eliminated or
otherwise do not have in their rules. These changes to remove outdated
content that is no longer necessary based on the Exchange's current
processes and/or that is available on the Exchange's website do not
impose any significant burden on competition because they do not raise
any novel issues, and waiver of the operative delay allows for the
immediate clarification of the Exchange's rules to reflect these
changes. Therefore, waiver of the 30-day operative delay is consistent
with the protection of investors and the public interest. Accordingly,
the Commission hereby waives the operative delay and designates the
proposal operative upon filing.\18\
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\16\ 17 CFR 240.19b-4(f)(6).
\17\ 17 CFR 240.19b-4(f)(6)(iii).
\18\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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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) \19\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\19\ 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
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#1f6d6a737a327c7072727a716b6c5f6c7a7c31787069"><span class="__cf_email__" data-cfemail="9ceee9f0f9b1fff3f1f1f9f2e8efdceff9ffb2fbf3ea">[email protected]</span></a>. Please include
file Number SR-NYSEAMER-2026-29 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-2026-29. 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-NYSEAMER-2026-29 and
should be submitted on or before May 22, 2026.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
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\20\ 17 CFR 200.30-3(a)(12), (59).
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Vanessa A. Countryman,
Secretary.
[FR Doc. 2026-08469 Filed 4-30-26; 8:45 am]
BILLING CODE 8011-01-P
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