
[Federal Register Volume 82, Number 44 (Wednesday, March 8, 2017)]
[Notices]
[Pages 13031-13033]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-04478]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80141; File No. SR-NYSEMKT-2017-07]


Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change Renaming NYSE OptX

March 2, 2017.
    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 February 23, 2017, NYSE MKT LLC (the ``Exchange'' or 
``NYSE MKT'') 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 the 
Substance of the Proposed Rule Change

    The Exchange proposes to rename NYSE OptX, an order entry platform 
that would allow for the submission of Qualified Contingent Cross 
(``QCC'') \4\ Orders and orders executed in the Exchange's Customer 
Best Execution (``CUBE'') \5\ Auction by ATP Holders, to NYSE Options 
IMprintTM. The proposed change is available on the 
Exchange's Web site at www.nyse.com, at the principal office of the 
Exchange, and at the Commission's Public Reference Room.
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    \4\ A QCC order is comprised of an originating order to buy or 
sell at least 1,000 contracts, or 10,000 mini-options contracts, 
that is identified as being part of a qualified contingent trade, as 
that term is defined in Commentary .01 to Rule 900.3NY, coupled with 
a contra-side order or orders totaling an equal number of contracts. 
See Rule 900.3NY(y).
    \5\ CUBE is the Exchange's price improvement auction mechanism 
that allows an ATP Holder to electronically submit a limit order it 
represents as agent on behalf of a public customer, broker dealer, 
or any other entity (``CUBE Order'') provided that the Initiating 
Participant guarantees the execution of the CUBE Order by submitting 
a contra-side order representing principal interest or interest it 
has solicited to trade with the CUBE Order at a specified price or 
by utilizing auto-match or auto-match limit features provided in the 
Rule. See Rule 971.1NY.
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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 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange recently introduced NYSE OptX,\6\ an order entry 
platform

[[Page 13032]]

that would allow for the submission of QCC Orders and CUBE Orders by 
ATP Holders.\7\ The purpose of this filing is to rename NYSE OptX to 
NYSE Options IMprint. The Exchange is not proposing any change to the 
service established in the NYSE OptX Rule Filing.
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    \6\ See Securities Exchange Act Release No. 79720 (January 3, 
2017), 82 FR 2427 (January 9, 2017) (Order Approving Proposed Rule 
Change, as Modified by Amendment No. 1 Thereto, Introducing NYSE 
OptX) (SR-NYSEMKT-2016-102) (``NYSE OptX Rule Filing''). See also 
Securities Exchange Act Release No. 79328 (November 16, 2016), 81 FR 
83888 (November 22, 2016) (Notice of Filing of Proposed Rule Change, 
as Modified by Amendment No. 1 Thereto, Introducing NYSE OptX) (SR-
NYSEMKT-2016-102).
    \7\ The term ``ATP Holder'' refers to a natural person, sole 
proprietorship, partnership, corporation, limited liability company 
or other organization, in good standing, that has been issued an 
ATP. An ATP Holder must be a registered broker or dealer pursuant to 
Section 15 of the Securities Exchange Act of 1934. See Rule 
900.2NY.(5).
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    The Exchange has not yet introduced the service established in the 
NYSE OptX Rule Filing to ATP Holders. As stated in the NYSE OptX Rule 
Filing, the Exchange will announce the effective date of the rebranded 
service in a Trader Update no later than 90 days following approval of 
the NYSE OptX Rule Filing. The NYSE OptX Rule Filing was approved on 
January 3, 2017. The Exchange notes it will publish the Trader Update 
announcing the effective date of the re-branded service, NYSE Options 
IMprint, no later than April 3, 2017. As represented in the NYSE OptX 
Rule Filing, the effective date of NYSE Options IMprint will be no 
later than 270 days following publication of the Trader Update.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) \8\ of the 
Securities Exchange Act of 1934 (the ``Act''), in general, and furthers 
the objectives of Section 6(b)(5),\9\ in particular, in that 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 facilitating transactions in 
securities, and to remove impediments to and perfect the mechanism of a 
free and open market and a national market system. The Exchange asserts 
that the proposed rule change, which is intended to rebrand an approved 
service, will serve the Act's goals by ensuring that the Exchange's 
rules use current terminology. The Exchange further believes the 
proposed change is ministerial and is intended to eliminate any 
potential investor confusion related to the service when it is 
introduced under a new name, thereby removing impediments to and 
perfecting the mechanism of a free and open market and a national 
market system, and, in general, protecting investors and the public 
interest.
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    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
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    For these 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,\10\ the Exchange 
does not believe that the proposed rule change would impose any burden 
on competition that is not necessary or appropriate in furtherance of 
the purposes of the Act. Moreover, the Exchange believes that proposed 
rule change does not impact competition in any respect, since it is 
designed to rename a previously approved service.
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    \10\ 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

    This filing is made pursuant to Section 19(b)(3)(A) of the Act \11\ 
and Rule 19b-4(f)(5) \12\ thereunder.
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    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(5).
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    This filing relates solely to effecting a change in an existing 
order-entry or trading system of a self-regulatory organization that 
(i) does not significantly affect the protection of investors or the 
public interest, (ii) does not impose any significant burden on 
competition, and (iii) does not have the effect of limiting the access 
to or the availability of the system, and as such takes effect upon 
filing under Subsection (iii) of Paragraph (A).
    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may 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) \13\ of the Act to determine whether the proposed rule 
change should be approved or disapproved.
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    \13\ 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

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to rule-comments@sec.gov. Please include 
File Number SR-NYSEMKT-2017-07 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields, 
Secretary, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSEMKT-2017-07. 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 Number SR-NYSEMKT-2017-07, and should 
be submitted on or before March 29, 2017.


[[Page 13033]]


    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\14\
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    \14\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-04478 Filed 3-7-17; 8:45 am]
 BILLING CODE 8011-01-P


