Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of a Proposed Rule Change To Permit the Listing of Binary KPI Options

 settlement (including any payout of the exercise settlement amount) will occur in accordance with the Rules of the Clearing Corporation. --------------------------------------------------------------------------- \11\ See proposed Rule 5.96-O(b)(8). \12\ While the timing of an issuer's official announcement informs whether the Exchange will establish a binary KPI option as A.M.-settled or P.M.-settled (as further discussed below), the Exchange will use the KPI value included in an issuer's report submitted to the Commission (and not the press release announcing earnings results, for example) as the settlement value. The Exchange understands, however, these values are generally the same. --------------------------------------------------------------------------- Additionally, proposed paragraph (c) of the settlement value definition states if an applicable KPI is restated after the expiration date and settlement of a binary KPI option, the settlement value (and the exercise settlement amount) of the binary KPI option does not change. In other words, the value of the applicable KPI as reported by the issuer on the applicable expiration date is final, and the amount paid (or not paid) at settlement will not change, regardless of whether it is later restated by the issuer. The Exchange proposes to adopt Rule 5.97-O(a) (Designation of Binary KPI Option Contracts) to identify the bi