[Federal Register Volume 78, Number 124 (Thursday, June 27, 2013)]
[Notices]
[Pages 38768-38769]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-15365]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-69826; File No. SR-NYSEArca-2013-66]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Making Non-
Substantive, Technical Amendments to Exchange Rule 6.62(o) Correcting
Cross Reference to Exchange Rule 6.76B, and to Exchange Rule 6.76A To
Correct Cross References to Exchange Rules 6.76A and 6.76B
June 21, 2013.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on June 20, 2013, NYSE Arca, Inc. (the ``Exchange'' or
``NYSE Arca'') 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.
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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 make non-substantive, technical amendments
to Exchange Rule 6.62(o) to correct a cross reference to Exchange Rule
6.76B, and to Exchange Rule 6.76A to correct cross references to
Exchange Rules 6.76A and 6.76B. The text of the proposed rule change is
available on the Exchange's Web site at www.nyse.com, at the principal
office of the Exchange, on the Commission's Web site at http://www.sec.gov, 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 is proposing to make a non-substantive, technical
correction to Exchange Rule 6.62(o), in order to update a cross
reference to Exchange Rule 6.76B. Current Rule 6.62(o) incorrectly
cross references Rule 6.76B with respect to the routing instructions
for NOW Orders. The Exchange proposes to correct the citation to cross
reference Rule 6.76A.
The Exchange is also proposing to make two non-substantive,
technical corrections to Exchange Rule 6.76A(c)(1)(A), and to make the
same two non-substantive, technical corrections to Exchange Rule
6.76A(c)(2)(C), in order to update cross references in each to Exchange
Rules 6.76A and 6.76B. Current Rule 6.76A(c)(1)(A) and Rule
6.76A(c)(2)(C) each incorrectly cross references Rule 6.76A with
respect to the order ranking and display provisions governing routing
away. The Exchange proposes to correct the citation in each rule to
cross reference Rule 6.76. Rule 6.76A(c)(1)(A) and Rule 6.76A(c)(2)(C)
also each incorrectly cross references Rule 6.76B with respect to the
order execution provisions governing routing away. The Exchange
proposes to correct the citation in each rule to cross reference Rule
6.76A.
2. Statutory Basis
The Exchange believes that the proposal is consistent with Section
6(b) of the Act,\4\ in general, and furthers the objectives of Section
6(b)(5),\5\ in particular, in that it is designed to promote just and
equitable principles of trade, to remove impediments to, and perfect
the mechanism of a free and open market and, in general, to protect
investors and the public interest. The Exchange believes it is
appropriate to make technical corrections to its rules so that Exchange
members and investors have a clear and accurate understanding of the
meaning of the Exchange's rules. The correction of the cross references
in Rules 6.62(o) and 6.76A will serve to eliminate a potential source
of confusion for Exchange Participants.
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\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change is non-substantive and therefore does not
implicate the competition analysis.
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 \6\ and Rule 19b-4(f)(6) thereunder.\7\
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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\6\ 15 U.S.C. 78s(b)(3)(A)(iii).
\7\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
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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A proposed rule change filed under Rule 19b-4(f)(6) \8\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\9\ 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
[[Page 38769]]
immediately upon filing. The Exchange stated believes that this
proposal is non-controversial and will not significantly affect the
protection of investors because the Exchange is not proposing any
substantive changes and is merely correcting inaccuracies in the
Exchange's rules. According to the Exchange, the correction of the
inaccurate cross references in the Exchange's rules will eliminate
member confusion and provide clarity on how the rules apply. Based on
the Exchange's statements, the Commission believes that waiving the
operative delay is consistent with the protection of investors and the
public interest. Accordingly, the Commission hereby grants the
Exchange's request and waives the 30-day operative delay.\10\
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\8\ 17 CFR 240.19b-4(f)(6).
\9\ 17 CFR 240.19b-4(f)(6)(iii).
\10\ For purposes only of waiving the 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.
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
Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
Send an email to [email protected]. Please include
File No. SR-NYSEArca-2013-66 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
All submissions should refer to File No. SR-NYSEArca-2013-66. 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 Web site (http://www.sec.gov/rules/sro.shtml). 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 Web site 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
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File No. SR-NYSEArca-2013-66 and should be
submitted on or before July 18, 2013.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2013-15365 Filed 6-26-13; 8:45 am]
BILLING CODE 8011-01-P