Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Equities Fees and Charges To Remove Certain Obsolete Text That References Pillar Phase I Protocols, 57511-57513 [2018-24868]
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Federal Register / Vol. 83, No. 221 / Thursday, November 15, 2018 / Notices
competitive product(s), applicable
statutory and regulatory requirements
include 39 U.S.C. 3632, 39 U.S.C. 3633,
39 U.S.C. 3642, 39 CFR part 3015, and
39 CFR part 3020, subpart B. Comment
deadline(s) for each request appear in
section II.
SECURITIES AND EXCHANGE
COMMISSION
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meetings
[Release No. 34–84557; File No. SR–
NYSEArca–2018–78]
II. Docketed Proceeding(s)
PLACE:
1. Docket No(s).: CP2019–11; Filing
Title: Notice of the United States Postal
Service of Filing a Functionally
Equivalent Global Expedited Package
Services 7 Negotiated Service
Agreement and Application for NonPublic Treatment of Materials Filed
Under Seal; Filing Acceptance Date:
November 8, 2018; Filing Authority: 39
CFR 3015.5; Public Representative:
Curtis E. Kidd; Comments Due:
November 16, 2018.
This Notice will be published in the
Federal Register.
Stacy L. Ruble,
Secretary.
[FR Doc. 2018–24916 Filed 11–14–18; 8:45 am]
BILLING CODE 7710–FW–P
POSTAL SERVICE
Product Change—Priority Mail
Negotiated Service Agreement
AGENCY:
ACTION:
Postal ServiceTM.
Notice.
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.
SUMMARY:
Date of required notice:
November 15, 2018.
DATES:
The meeting will be held at the
Commission’s headquarters, 100 F
Street NE, Washington, DC 20549.
This meeting will be closed to
the public.
STATUS:
MATTERS TO BE CONSIDERED:
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the closed meeting. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B)
and (10) and 17 CFR 200.402(a)(3),
(a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and
(a)(10), permit consideration of the
scheduled matters at the closed meeting.
Commissioner Stein, as duty officer,
voted to consider the items listed for the
closed meeting in closed session.
The subject matters of the closed
meeting will be:
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings;
Resolution of litigation claims; and
Other matters relating to enforcement
proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
CONTACT PERSON FOR MORE INFORMATION:
FOR FURTHER INFORMATION CONTACT:
Elizabeth Reed, 202–268–3179.
The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on November 6,
2018, it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Contract 472 to
Competitive Product List. Documents
are available at www.prc.gov, Docket
Nos. MC2019–11, CP2019–10.
SUPPLEMENTARY INFORMATION:
khammond on DSK30JT082PROD with NOTICES
2:00 p.m. on Thursday,
November 15, 2018.
TIME AND DATE:
For further information and to ascertain
what, if any, matters have been added,
deleted or postponed; please contact
Brent J. Fields from the Office of the
Secretary at (202) 551–5400.
Dated: November 8, 2018.
Brent J. Fields,
Secretary.
[FR Doc. 2018–25021 Filed 11–13–18; 11:15 am]
BILLING CODE 8011–01–P
Elizabeth Reed,
Attorney, Corporate and Postal Business Law.
16:53 Nov 14, 2018
Jkt 247001
November 8, 2018.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on
November 1, 2018, NYSE Arca, Inc.
(‘‘Exchange’’ or ‘‘NYSE Arca’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the selfregulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend the
NYSE Arca Equities Fees and Charges
(‘‘Fee Schedule’’) to remove certain
obsolete text that reference [sic] Pillar
phase I protocols now that Pillar phase
I protocols are no longer available for
ETP Holders to communicate with the
NYSE Arca Marketplace. The Exchange
proposes to implement the fee changes
effective November 1, 2018. 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.
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.
U.S.C.78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
BILLING CODE 7710–12–P
VerDate Sep<11>2014
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend the NYSE Arca
Equities Fees and Charges To Remove
Certain Obsolete Text That References
Pillar Phase I Protocols
1 15
[FR Doc. 2018–24911 Filed 11–14–18; 8:45 am]
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Federal Register / Vol. 83, No. 221 / Thursday, November 15, 2018 / Notices
khammond on DSK30JT082PROD with NOTICES
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend the
Fee Schedule to remove certain obsolete
text that reference Pillar phase I
protocols now that Pillar phase I
protocols are no longer available for ETP
Holders to communicate with the NYSE
Arca Marketplace. The Exchange
proposes to implement the fee changes
effective November 1, 2018.
As a general matter, ETP Holders
enter orders and order instructions by
using communication protocols that
map to the order types and modifiers
described in Exchange rules. Prior to the
implementation of Pillar, ETP Holders
communicated with the NYSE Arca
Marketplace using Pillar phase I
protocols. When the Exchange
introduced trading on its Pillar trading
platform, the Exchange also introduced
new technology to support how ETP
Holders communicate with the NYSE
Arca Marketplace, referred to in the
Exchange’s rules as Pillar phase II
protocols. During the Pillar
implementation, there was a period of
time when both Pillar phase I protocols
and Pillar phase II protocols were
available to ETP Holders. Effective
October 1, 2018, Pillar phase I protocols
are no longer available to ETP Holders.
All ETP Holders now use Pillar phase II
protocols to communicate with the
NYSE Arca Marketplace. As a result,
there is no longer a need to distinguish
between Pillar phase I protocols and
Pillar phase II protocols in the
Exchange’s Fee Schedule.
In April 2018, the Exchange filed a
proposed rule change to adopt a new
pricing tier—BBO Setter Tier.4 In the
BBO Setter Tier Filing, the Exchange
adopted the following rule text in the
BBO Setter pricing tier: ‘‘For purpose of
the BBO Setter Tier, ETP ID means an
ETP ID when using Pillar phase I
protocols to communicate with the
NYSE Arca Marketplace or an MPID
when using Pillar phase II protocols to
communicate with the NYSE Arca
Marketplace.’’ The Exchange proposes
to remove this text from the Fee
Schedule now that Pillar phase I
protocols are no longer available and all
ETP Holders now communicate with the
NYSE Arca Marketplace using Pillar
phase II protocols.
Additionally, in August 2017, in
connection with the introduction of
4 See Securities Exchange Act Release No. 83032
(April 11, 2017 [sic]), 83 FR 16909 (April 17, 2017
[sic]) (SR–NYSEArca–2018–20) (‘‘BBO Setter Tier
Filing’’).
VerDate Sep<11>2014
16:53 Nov 14, 2018
Jkt 247001
Pillar phase II protocols, the Exchange
amended the Fee Schedule to adopt a
cap, for August and September 2017, on
monthly fees for the use of ports
connecting to the NYSE Arca
Marketplace.5 Given that the months
during which the port fee cap was
applicable have passed, the Exchange
proposes to delete reference to the port
fee cap from the Fee Schedule as that
rule text is now obsolete.
Finally, in October 2017, the
Exchange amended the Fee Schedule to
adopt a Decommission Extension Fee
applicable to ETP Holders for the use of
Pillar phase I protocols to connect with
the NYSE Arca Marketplace for a threemonth period from March 2018 through
May 2018 as an incentive for ETP
Holders to fully transition to the use of
Pillar phase II protocols to connect with
the NYSE Arca Marketplace.6 In June
2018, the Exchange filed to extend the
effectiveness of the Decommission
Extension Fee for an additional four
months, until September 2018.7 The
Exchange proposes to remove rule text
regarding the Decommission Extension
Fee from the Fee Schedule as that rule
text is now obsolete because the period
of time during which the Decommission
Extension Fee was applicable has
passed.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,8 in general, and
furthers the objectives of Sections
6(b)(4) and (5) of the Act,9 in particular,
because it provides for the equitable
allocation of reasonable dues, fees, and
other charges among its members,
issuers and other persons using its
facilities and does not unfairly
discriminate between customers,
issuers, brokers or dealers.
The Exchange believes that it is
reasonable, equitable and not unfairly
discriminatory to delete reference to
obsolete rule text and dates from the Fee
Schedule. The Exchange believes that
the proposed changes are reasonable
because they would result in greater
specificity and precision within the Fee
Schedule, which would contribute to
reasonably ensuring that the fees and
credits described there are clear and
5 See Securities Exchange Act Release No. 81573
(September 11, 2017), 82 FR 43430 (September 15,
2017) (SR–NYSEArca–2017–97).
6 See Securities Exchange Act Release No. 81901
(October 19, 2017), 82 FR 49426 (October 25, 2017)
(SR–NYSEArca–2017–121).
7 See Securities Exchange Act Release No. 83410
(June 12, 2018), 83 FR 28300 (June 18, 2018) (SR–
NYSEArca–2018–42).
8 15 U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(4) and (5).
PO 00000
Frm 00114
Fmt 4703
Sfmt 4703
accurate. Specifically, the proposed
changes are reasonable because they
would remove obsolete rule text and
dates from the Fee Schedule related to
the use of ports that are no longer
available to connect to the NYSE Arca
Marketplace and a Decommission
Extension Fee that is no longer charged
by the Exchange. The Exchange also
believes that the proposed changes are
equitable and not unfairly
discriminatory because all readers of the
Fee Schedule, including all ETP
Holders, would benefit from the
increased specificity and clarity that
this proposed rule change would
provide.
For the foregoing 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 believes that the
proposed rule change would not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed changes are not designed to
address any competitive issues. Rather,
the proposed changes are designed to
provide greater specificity and precision
within the Fee Schedule, which would
contribute to reasonably ensuring that
the fees and credits described therein
are clear and accurate. In addition, the
removal of obsolete text from the Fee
Schedule would not have any impact on
inter- or intra-market competition
because the proposed change would
result in a streamlined Fee Schedule
without any impact on pricing.
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 foregoing rule change is effective
upon filing pursuant to Section
19(b)(3)(A) 11 of the Act and
subparagraph (f)(2) of Rule 19b–4 12
thereunder, because it establishes a due,
fee, or other charge imposed by the
Exchange.
At any time within 60 days of the
filing of such proposed rule change, the
Commission summarily may
10 15
U.S.C. 78f(b)(8).
U.S.C. 78s(b)(3)(A).
12 17 CFR 240.19b–4(f)(2).
11 15
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Federal Register / Vol. 83, No. 221 / Thursday, November 15, 2018 / Notices
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. 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.
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:
khammond on DSK30JT082PROD with NOTICES
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NYSEArca–2018–78 on the subject line.
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–NYSEArca–2018–78. 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 website (https://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 website 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 the
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
13 15
U.S.C. 78s(b)(2)(B).
VerDate Sep<11>2014
16:53 Nov 14, 2018
Jkt 247001
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–NYSEArca–2018–78 and
should be submitted on or before
December 6, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–24868 Filed 11–14–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84556; File No. SR–ICEEU–
2018–011]
Self-Regulatory Organizations; ICE
Clear Europe Limited; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change Relating to
Amendments to the F&O Guaranty
Fund Policy (the ‘‘Policy’’), Clearing
Rules (the ‘‘Rules’’) and Finance
Procedures (‘‘Finance Procedures’’)
November 8, 2018.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
29, 2018, ICE Clear Europe Limited
(‘‘ICE Clear Europe’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
changes described in Items I, II and III
below, which Items have been prepared
primarily by ICE Clear Europe. ICE Clear
Europe filed the proposed rule changes
pursuant to Section 19(b)(3)(A) of the
Act,3 and Rule 19b-4(f)(4)(ii)
thereunder,4 so that the proposal was
immediately effective upon filing with
the Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Clearing Agency’s Statement of the
Terms of Substance of the Proposed
Rule Change
ICE Clear Europe proposes to make
certain amendments to the Policy, Rules
and Finance Procedures relating to the
calculation methodology for F&O
Clearing Member contributions, the
minimum size of the F&O Guaranty
14 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(4)(ii).
1 15
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Fmt 4703
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57513
Fund and the review cycle and to make
various drafting clarifications and
improvements.
II. Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
In its filing with the Commission, ICE
Clear Europe 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 these
statements may be examined at the
places specified in Item IV below. ICE
Clear Europe has prepared summaries,
set forth in sections (A), (B), and (C)
below, of the most significant aspects of
such statements.
(A) Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
(a) Purpose
ICE Clear Europe is generally
amending the Policy to address the
following aspects of the F&O Guaranty
Fund: Changing the calculation
methodology for F&O Clearing Member
contributions to incorporate an
uncollateralized stress loss factor (in
addition to a factor based on the
intraday original margin requirement),
in line with the Clearing House
principle of ‘polluter pays’; specifying
the minimum size of the F&O Guaranty
Fund at 2% of the amount of F&O
original margin; and changing the
review cycle for the F&O Guaranty Fund
level from quarterly to every two
months, in line with the F&O Risk
Committee meeting schedule. Various
drafting clarifications and
improvements have also been made, and
certain descriptions in the Policy that
duplicate or describe provisions in other
Rules, ICE Clear Europe Procedures and
policies have been removed as
unnecessary. ICE Clear Europe is also
making corresponding amendments to
the Rules and Finance Procedures to
accommodate the changes being made
to the Policy. Set out below are further
details regarding the specific proposed
amendments.
ICE Clear Europe is proposing to
amend its description of the purposes
and objectives of the Policy to include
a broader statement that the Policy
defines how and how often the F&O
Guaranty Fund is sized, how Clearing
Member contributions are apportioned
and the sizing frequency, as well as that
the Policy also defines stress margin and
its uses, eligible assets covering F&O
Guaranty Fund requirement liabilities,
the default sequence and powers of
assessment. Certain descriptions of the
E:\FR\FM\15NON1.SGM
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]]>Agencies
[Federal Register Volume 83, Number 221 (Thursday, November 15, 2018)]
[Notices]
[Pages 57511-57513]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-24868]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-84557; File No. SR-NYSEArca-2018-78]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE
Arca Equities Fees and Charges To Remove Certain Obsolete Text That
References Pillar Phase I Protocols
November 8, 2018.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on November 1, 2018, NYSE Arca, Inc. (``Exchange'' or ``NYSE
Arca'') filed with the Securities and Exchange Commission
(``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.
---------------------------------------------------------------------------
\1\ 15 U.S.C.78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend the NYSE Arca Equities Fees and
Charges (``Fee Schedule'') to remove certain obsolete text that
reference [sic] Pillar phase I protocols now that Pillar phase I
protocols are no longer available for ETP Holders to communicate with
the NYSE Arca Marketplace. The Exchange proposes to implement the fee
changes effective November 1, 2018. 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.
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.
[[Page 57512]]
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend the Fee Schedule to remove certain
obsolete text that reference Pillar phase I protocols now that Pillar
phase I protocols are no longer available for ETP Holders to
communicate with the NYSE Arca Marketplace. The Exchange proposes to
implement the fee changes effective November 1, 2018.
As a general matter, ETP Holders enter orders and order
instructions by using communication protocols that map to the order
types and modifiers described in Exchange rules. Prior to the
implementation of Pillar, ETP Holders communicated with the NYSE Arca
Marketplace using Pillar phase I protocols. When the Exchange
introduced trading on its Pillar trading platform, the Exchange also
introduced new technology to support how ETP Holders communicate with
the NYSE Arca Marketplace, referred to in the Exchange's rules as
Pillar phase II protocols. During the Pillar implementation, there was
a period of time when both Pillar phase I protocols and Pillar phase II
protocols were available to ETP Holders. Effective October 1, 2018,
Pillar phase I protocols are no longer available to ETP Holders. All
ETP Holders now use Pillar phase II protocols to communicate with the
NYSE Arca Marketplace. As a result, there is no longer a need to
distinguish between Pillar phase I protocols and Pillar phase II
protocols in the Exchange's Fee Schedule.
In April 2018, the Exchange filed a proposed rule change to adopt a
new pricing tier--BBO Setter Tier.\4\ In the BBO Setter Tier Filing,
the Exchange adopted the following rule text in the BBO Setter pricing
tier: ``For purpose of the BBO Setter Tier, ETP ID means an ETP ID when
using Pillar phase I protocols to communicate with the NYSE Arca
Marketplace or an MPID when using Pillar phase II protocols to
communicate with the NYSE Arca Marketplace.'' The Exchange proposes to
remove this text from the Fee Schedule now that Pillar phase I
protocols are no longer available and all ETP Holders now communicate
with the NYSE Arca Marketplace using Pillar phase II protocols.
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 83032 (April 11,
2017 [sic]), 83 FR 16909 (April 17, 2017 [sic]) (SR-NYSEArca-2018-
20) (``BBO Setter Tier Filing'').
---------------------------------------------------------------------------
Additionally, in August 2017, in connection with the introduction
of Pillar phase II protocols, the Exchange amended the Fee Schedule to
adopt a cap, for August and September 2017, on monthly fees for the use
of ports connecting to the NYSE Arca Marketplace.\5\ Given that the
months during which the port fee cap was applicable have passed, the
Exchange proposes to delete reference to the port fee cap from the Fee
Schedule as that rule text is now obsolete.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 81573 (September 11,
2017), 82 FR 43430 (September 15, 2017) (SR-NYSEArca-2017-97).
---------------------------------------------------------------------------
Finally, in October 2017, the Exchange amended the Fee Schedule to
adopt a Decommission Extension Fee applicable to ETP Holders for the
use of Pillar phase I protocols to connect with the NYSE Arca
Marketplace for a three-month period from March 2018 through May 2018
as an incentive for ETP Holders to fully transition to the use of
Pillar phase II protocols to connect with the NYSE Arca Marketplace.\6\
In June 2018, the Exchange filed to extend the effectiveness of the
Decommission Extension Fee for an additional four months, until
September 2018.\7\ The Exchange proposes to remove rule text regarding
the Decommission Extension Fee from the Fee Schedule as that rule text
is now obsolete because the period of time during which the
Decommission Extension Fee was applicable has passed.
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 81901 (October 19,
2017), 82 FR 49426 (October 25, 2017) (SR-NYSEArca-2017-121).
\7\ See Securities Exchange Act Release No. 83410 (June 12,
2018), 83 FR 28300 (June 18, 2018) (SR-NYSEArca-2018-42).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\8\ in general, and furthers the
objectives of Sections 6(b)(4) and (5) of the Act,\9\ in particular,
because it provides for the equitable allocation of reasonable dues,
fees, and other charges among its members, issuers and other persons
using its facilities and does not unfairly discriminate between
customers, issuers, brokers or dealers.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
The Exchange believes that it is reasonable, equitable and not
unfairly discriminatory to delete reference to obsolete rule text and
dates from the Fee Schedule. The Exchange believes that the proposed
changes are reasonable because they would result in greater specificity
and precision within the Fee Schedule, which would contribute to
reasonably ensuring that the fees and credits described there are clear
and accurate. Specifically, the proposed changes are reasonable because
they would remove obsolete rule text and dates from the Fee Schedule
related to the use of ports that are no longer available to connect to
the NYSE Arca Marketplace and a Decommission Extension Fee that is no
longer charged by the Exchange. The Exchange also believes that the
proposed changes are equitable and not unfairly discriminatory because
all readers of the Fee Schedule, including all ETP Holders, would
benefit from the increased specificity and clarity that this proposed
rule change would provide.
For the foregoing 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
believes that the proposed rule change would not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. The proposed changes are not designed to address
any competitive issues. Rather, the proposed changes are designed to
provide greater specificity and precision within the Fee Schedule,
which would contribute to reasonably ensuring that the fees and credits
described therein are clear and accurate. In addition, the removal of
obsolete text from the Fee Schedule would not have any impact on inter-
or intra-market competition because the proposed change would result in
a streamlined Fee Schedule without any impact on pricing.
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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
The foregoing rule change is effective upon filing pursuant to
Section 19(b)(3)(A) \11\ of the Act and subparagraph (f)(2) of Rule
19b-4 \12\ thereunder, because it establishes a due, fee, or other
charge imposed by the Exchange.
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\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 17 CFR 240.19b-4(f)(2).
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At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may
[[Page 57513]]
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. 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 (https://www.sec.gov/rules/sro.shtml); or
Send an email to [email protected]. Please include
File Number SR-NYSEArca-2018-78 on the subject line.
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-NYSEArca-2018-78. 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 website (https://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 website 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 the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-NYSEArca-2018-78 and should be submitted
on or before December 6, 2018.
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. 2018-24868 Filed 11-14-18; 8:45 am]
BILLING CODE 8011-01-P
