Statement Summary
The SEC has announced the filing of a proposed rule change by NYSE National, Inc. to update its Rules 7.37 and 7.45 to reflect the name change of its affiliate from NYSE Chicago, Inc. to NYSE Texas, Inc. This change follows NYSE Chicago’s conversion from a Delaware corporation to one organized under Texas law. The amendments are non-substantive and aim to ensure clarity and transparency in the Exchange’s rules, benefiting investors and market participants by reducing potential confusion. The proposed rule change has become effective without significant opposition, and stakeholders are invited to submit comments for consideration.
Original Statement
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-103002; File No. SR-NYSENAT-2025-09]
Self-Regulatory Organizations; NYSE National, Inc.; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change for Conforming Rules 7.37 and 7.45
May 7, 2025.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) and Rule 19b-4 thereunder, notice is hereby given that, on April 25, 2025, NYSE National, Inc. (“NYSE National” or the “Exchange”) 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 Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.
Self-Regulatory Organization’s Statement
Terms of the Proposed Rule Change
The Exchange proposes conforming changes to Rules 7.37 and 7.45 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 www.nyse.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room.
Purpose 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.
The Exchange proposes conforming changes to Rule 7.37 (Order Execution and Routing) and Rule 7.45 (Operation of Routing Broker) to reflect the name change of “NYSE Chicago, Inc.,” to “NYSE Texas, Inc.”
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.” The Exchange accordingly proposes changes to its rules.
Specifically, the Exchange proposes to replace one reference to “Chicago” in Rule 7.37(e) with “Texas.” Similarly, the Exchange proposes replacing three references to “Chicago” in Rule 7.45(c)(1) with “Texas” and three references to “Chicago” in Rule 7.45(c)(2) with “Texas.” The proposed changes are conforming and non-substantive in nature.
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 is focused solely on updating the Exchange’s rules.
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 or send an email to rule-comments
- Paper Comments: 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-NYSENAT-2025-09. To help the Commission process your comments efficiently, please use only one method. The Commission will post all comments on the Commission’s internet website.
Date of Effectiveness of the Proposed Rule Change
The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act and Rule 19b-4(f)(6) thereunder. This rule change has become effective because it does not significantly affect the protection of investors or the public interest.
At any time within 60 days of the filing of the proposed rule change, the Commission may temporarily suspend such rule change if it appears to be necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act.
