Product Change-Parcel Select Negotiated Service Agreement, 32386 [2017-14633]
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Federal Register / Vol. 82, No. 133 / Thursday, July 13, 2017 / Notices
[FR Doc. 2017–14672 Filed 7–12–17; 8:45 am]
BILLING CODE 7590–01–P
POSTAL SERVICE
Product Change—Parcel Select
Negotiated Service Agreement
Postal ServiceTM.
Notice.
AGENCY:
ACTION:
The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Effective date: July 13, 2017.
FOR FURTHER INFORMATION CONTACT:
Maria W. Votsch, 202–268–6525.
SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on July 6, 2017, it
filed with the Postal Regulatory
Commission a Request of the United
States Postal Service to Add Parcel
Select Contract 22 to Competitive
Product List. Documents are available at
www.prc.gov, Docket Nos. MC2017–155,
CP2017–219.
SUMMARY:
Stanley F. Mires,
Attorney, Federal Compliance.
[FR Doc. 2017–14633 Filed 7–12–17; 8:45 am]
BILLING CODE 7710–12–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–81097; File No. SR–
NASDAQ–2016–161]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Order
Approving a Proposed Rule Change,
as Modified by Amendment No. 1, To
Adopt a New Extended Life Priority
Order Attribute Under Rule 4703, and
To Make Related Changes to Rules
4702, 4752, 4753, 4754, and 4757
July 7, 2017.
sradovich on DSK3GMQ082PROD with NOTICES
I. Introduction
On November 17, 2016, the NASDAQ
Stock Market LLC (‘‘Exchange’’ or
‘‘Nasdaq’’) filed with the Securities and
Exchange Commission (‘‘Commission’’),
pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a
proposed rule change to adopt a new
extended life priority order (‘‘ELO’’)
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
VerDate Sep<11>2014
17:41 Jul 12, 2017
Jkt 241001
attribute for designated retail orders
under Nasdaq Rule (‘‘Rule(s)’’) 4703,
and to make related changes to Rules
4702, 4752, 4753, 4754, and 4757. The
proposed rule change was published for
comment in the Federal Register on
December 5, 2016.3 On January 17,
2017, pursuant to Section 19(b)(2) of the
Act,4 the Commission designated a
longer period within which to approve
the proposed rule change, disapprove
the proposed rule change, or institute
proceedings to determine whether to
approve or disapprove the proposed
rule change.5 The Commission initially
received seven comment letters on the
proposed rule change.6 On February 17,
2017, the Exchange filed Amendment
No. 1 to the proposed rule change 7 and
submitted a comment response letter.8
Securities Exchange Act Release No. 79428
(November 30, 2016), 81 FR 87628 (‘‘Notice’’).
4 15 U.S.C. 78s(b)(2).
5 See Securities Exchange Act Release No. 79810,
82 FR 8244 (January 24, 2017). The Commission
designated March 5, 2017 as the date by which the
Commission shall approve or disapprove, or
institute proceedings to determine whether to
approve or disapprove, the proposed rule change.
6 See Letters to Brent J. Fields, Secretary,
Commission, from: Joseph Saluzzi and Sal Arnuk,
Partners, Themis Trading LLC, dated December 19,
2016 (‘‘Themis Letter I’’); Eric Swanson, EVP,
General Counsel, and Secretary, Bats Global
Markets, Inc., dated December 22, 2016 (‘‘BATS
Letter’’); Adam Nunes, Head of Business
Development, Hudson River Trading LLC, dated
December 22, 2016 (‘‘Hudson River Trading
Letter’’); Joanna Mallers, Secretary, FIA Principal
Traders Group, dated December 23, 2016 (‘‘FIA PTG
Letter I’’); Adam C. Cooper, Senior Managing
Director and Chief Legal Officer, Citadel Securities,
dated December 27, 2016 (‘‘Citadel Letter I’’);
Andrew Stevens, General Counsel, IMC Financial
Markets, dated December 28, 2016 (‘‘IMC Letter’’);
and Venu Palaparthi, SVP, Compliance, Regulatory
& Government Affairs, Virtu Financial LLC, dated
February 9, 2017 (‘‘Virtu Letter’’).
7 In Amendment No. 1, the Exchange: (i)
Specified that the ELO attribute would be available
during ‘‘System Hours’’ as defined in Rule 4701(g);
(ii) clarified that any subsequent proposal to
broaden the availability of the ELO attribute would
be set forth in a distinct rule filing; (iii) provided
additional details regarding the calculation of the
99% ELO eligibility requirement; (iv) proposed to
assess members’ compliance with ELO eligibility
requirements on a monthly basis instead of a
quarterly basis as initially proposed; (v) stated that,
concurrently with the initial launch of the ELO
attribute, it will implement new surveillances to
identify any potential misuse of the ELO attribute;
(vi) provided additional discussions regarding the
availability of the ELO identifier on the Exchange’s
TotalView ITCH market data feed; (vii) provided
additional details as to how the ELO attribute
would operate with other order attributes and crossspecific order types; (viii) provided information
regarding the Exchange’s implementation of the
ELO attribute; and (ix) provided additional
justifications for proposing the ELO attribute.
Amendment No. 1 has been placed in the public
comment file for SR–NASDAQ–2016–161 at https://
www.sec.gov/comments/sr-nasdaq-2016-161/
nasdaq2016161-1589828-132168.pdf.
8 See Letter to Brent J. Fields, Secretary,
Commission, from T. Sean Bennett, Associate Vice
President and Principal Associate General Counsel,
Nasdaq, dated February 17, 2017 (‘‘Nasdaq
Response Letter I’’).
PO 00000
3 See
Frm 00071
Fmt 4703
Sfmt 4703
The Commission subsequently received
two additional comment letters on the
proposed rule change.9 On March 3,
2017, the Commission instituted
proceedings under Section 19(b)(2)(B) of
the Act 10 to determine whether to
approve or disapprove the proposed
rule change, as modified by Amendment
No. 1.11 The Commission received two
additional comment letters on the
proposed rule change in response to the
Order Instituting Proceedings.12 On
April 24, 2017, the Exchange submitted
a second comment response letter.13 On
May 31, 2017, the Exchange extended
the time period for Commission action
to August 2, 2017. This order approves
the proposed rule change, as modified
by Amendment No. 1.
II. Description of the Proposal, as
Modified by Amendment No. 1
The Exchange has proposed to offer a
new ELO attribute, which would allow
certain displayed retail orders to receive
higher priority on the Nasdaq book than
other orders at the same price
(‘‘Extended Life Priority’’), and to make
conforming changes to its rules. As
discussed in more detail below, the
Exchange has proposed to amend Rule
4703 to set forth the ELO attribute in
new subparagraph (m), add an
attachment B to its designated retail
order attestation form that sets forth an
attestation that would be required of
members in connection with utilizing
the ELO attribute, and make related
changes to Rules 4702(b), 4752, 4753,
4754, and 4757.
A. Proposed Rule 4703(m) and
Attestation
Proposed Rule 4703(m) states that
ELO is an order attribute that allows an
order to receive priority in the Nasdaq
book above other orders resting on the
Nasdaq book at the same price that are
9 See Letters to Brent J. Fields, Secretary,
Commission, from: John Ramsay, Chief Market
Policy Officer, Investors Exchange LLC, dated
March 2, 2017 (‘‘IEX Letter’’); and Joseph Saluzzi
and Sal Arnuk, Partners, Themis Trading LLC,
dated March 3, 2017 (‘‘Themis Letter II’’).
10 15 U.S.C. 78s(b)(2)(B).
11 See Securities Exchange Act Release No. 80149,
82 FR 13168 (March 9, 2017) (‘‘Order Instituting
Proceedings’’).
12 See Letter to Brent J. Fields, Secretary,
Commission, from Joanna Mallers, Secretary, FIA
Principal Traders Group, dated March 30, 2017
(‘‘FIA PTG Letter II’’); Letter to Eduardo A. Aleman,
Assistant Secretary, Commission, from Stephen
John Berger, Managing Director, Government &
Regulatory Policy, Citadel Securities, dated March
30, 2017 (‘‘Citadel Letter II’’).
13 See Letter to Brent J. Fields, Secretary,
Commission, from T. Sean Bennett, Associate Vice
President and Principal Associate General Counsel,
Nasdaq, dated April 24, 2017 (‘‘Nasdaq Response
Letter II’’).
E:\FR\FM\13JYN1.SGM
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]]>Agencies
[Federal Register Volume 82, Number 133 (Thursday, July 13, 2017)]
[Notices]
[Page 32386]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-14633]
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-----------------------------------------------------------------------
POSTAL SERVICE
Product Change--Parcel Select Negotiated Service Agreement
AGENCY: Postal ServiceTM.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Postal Service gives notice of filing a request with the
Postal Regulatory Commission to add a domestic shipping services
contract to the list of Negotiated Service Agreements in the Mail
Classification Schedule's Competitive Products List.
DATES: Effective date: July 13, 2017.
FOR FURTHER INFORMATION CONTACT: Maria W. Votsch, 202-268-6525.
SUPPLEMENTARY INFORMATION: The United States Postal Service[supreg]
hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on
July 6, 2017, it filed with the Postal Regulatory Commission a Request
of the United States Postal Service to Add Parcel Select Contract 22 to
Competitive Product List. Documents are available at www.prc.gov,
Docket Nos. MC2017-155, CP2017-219.
Stanley F. Mires,
Attorney, Federal Compliance.
[FR Doc. 2017-14633 Filed 7-12-17; 8:45 am]
BILLING CODE 7710-12-P
