Self-Regulatory Organizations; New York Stock Exchange LLC; Order Granting an Extension to Limited Exemptions From Rule 612(c) of Regulation NMS in Connection With the Exchange's Retail Liquidity Program Until June 30, 2019, 64166-64167 [2018-27018]

Download as PDF 64166 Federal Register / Vol. 83, No. 239 / Thursday, December 13, 2018 / Notices manager, and include their name and address. Date of required notice: December 13, 2018. DATES: FOR FURTHER INFORMATION CONTACT: EXEMPTIONS PROMULGATED FOR THE SYSTEM: None. 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 December 6, 2018, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Contract 487 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2019–38, CP2019–40. SUPPLEMENTARY INFORMATION: HISTORY: December 22, 2017, 82 FR 60776; August 29, 2014, 79 FR 51627; October 24, 2011, 76 FR 65756; April 29, 2005, 70 FR 22516. * * * * * Brittany M. Johnson, Attorney, Federal Compliance. [FR Doc. 2018–26428 Filed 12–12–18; 8:45 am] Elizabeth Reed, Attorney, Corporate and Postal Business Law. BILLING CODE 7710–12–P [FR Doc. 2018–26939 Filed 12–12–18; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Product Change—Priority Mail Negotiated Service Agreement SECURITIES AND EXCHANGE COMMISSION Postal ServiceTM. Notice. AGENCY: ACTION: [Release No. 34–84761; File No. SR–NYSE– 2011–55] 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: Date of required notice: December 13, 2018. FOR FURTHER INFORMATION CONTACT: Elizabeth Reed, 202–268–3179. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on December 6, 2018, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Contract 489 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2019–40, CP2019–42. SUMMARY: Elizabeth Reed, Attorney, Corporate and Postal Business Law. [FR Doc. 2018–26941 Filed 12–12–18; 8:45 am] BILLING CODE 7710–12–P Self-Regulatory Organizations; New York Stock Exchange LLC; Order Granting an Extension to Limited Exemptions From Rule 612(c) of Regulation NMS in Connection With the Exchange’s Retail Liquidity Program Until June 30, 2019 December 10, 2018. On July 3, 2012, the Securities and Exchange Commission (‘‘Commission’’) issued an order pursuant to its authority under Rule 612(c) of Regulation NMS (‘‘Sub-Penny Rule’’) 1 that granted the New York Stock Exchange LLC (‘‘NYSE’’) a limited exemption from the Sub-Penny Rule in connection with the operation of the Exchange’s Retail Liquidity Program (‘‘Program’’).2 The limited exemption was granted concurrently with the Commission’s approval of the Exchange’s proposal to adopt its Program for a one-year pilot term.3 The exemption was granted coterminous with the effectiveness of the pilot Program; both the pilot Program and exemption are scheduled to expire on December 31, 2018.4 POSTAL SERVICE 1 17 Product Change—Priority Mail Negotiated Service Agreement Postal ServiceTM. ACTION: Notice. amozie on DSK3GDR082PROD with NOTICES1 AGENCY: 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: VerDate Sep<11>2014 17:12 Dec 12, 2018 Jkt 247001 CFR 242.612(c). Securities Exchange Act Release No. 67347 (July 3, 2012), 77 FR 40673 (July 10, 2012) (SR– NYSE–2011–55; SR–NYSEAmex–2011–84) (‘‘Order’’). 3 See id. 4 On July 30, 2013, the Exchange requested an extension of the exemption for the Program. See Letter from Janet McGinness, SVP and Corporate Secretary, NYSE Euronext, to Elizabeth M. Murphy, Secretary, Commission, dated July 30, 2013. The pilot period for the Program was extended until July 31, 2014. See Securities Exchange Act Release No. 70096 (August 2, 2013), 78 FR 48520 (August 8, 2013) (SR–NYSE–2013–48). On July 30, 2014, the Exchange requested another extension of the 2 See PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 The Exchange now seeks a six month extension of the exemption, which would be until June 30, 2019.5 The Exchange’s request was made in exemption for the Program. See Letter from Martha Redding, Chief Counsel, NYSE, to Kevin M O’Neill, Deputy Secretary, Commission, dated July 30, 2014. The pilot period for the Program was extended until March 31, 2015. See Securities Exchange Act Release No. 72629 (July 16, 2014), 79 FR 42564 (July 22, 2014) (SR–NYSE–2014–35). On February 27, 2015, the Exchange requested another extension of the exemption for the Program. See Letter from Martha Redding, Senior Counsel, NYSE, to Brent J. Fields, Secretary, Commission, dated February 27, 2015. The pilot period for the Program was extended until September 30, 2015. See Securities Exchange Act Release No. 74454 (March 6, 2015), 80 FR 13054 (March 12, 2015) (SR–NYSE–2015–10). On September 17, 2015, the Exchange requested another extension of the exemption for the Program. See Letter from Martha Redding, Senior Counsel, NYSE, to Brent J. Fields, Secretary, Commission, dated September 17, 2015. The pilot period for the Program was extended until March 31, 2016. See Securities Exchange Act Release No. 75993 (September 28, 2015), 80 FR 59844 (October 2, 2015) (SR–NYSE–2015–41). On March 17, 2016, the Exchange requested another extension of the exemption for the Program. See Letter from Martha Redding, Senior Counsel, NYSE, to Brent J. Fields, Secretary, Commission, dated March 17, 2016. The pilot period for the Program was extended until August 31, 2016. See Securities Exchange Act Release No. 77426 (March 23, 2016), 81 FR 17533 (March 29, 2016) (SR–NYSE–2016–25). On August 8, 2016, the Exchange requested another extension of the exemption for the Program. See Letter from Martha Redding, Associate General Counsel, NYSE, to Brent J. Fields, Secretary, Commission, dated August 8, 2016. The pilot period for the Program was extended until December 31, 2016. See Securities Exchange Act Release No. 78600 (August 17, 2016), 81 FR 57642 (August 23, 2016) (SR– NYSE–2016–54). On November 28, 2016, the Exchange requested another extension of the exemption for the Program. See Letter from Martha Redding, Associate General Counsel, NYSE, to Brent J. Fields, Secretary, Commission, dated November 28, 2016. The pilot period for the Program was extended until June 30, 2017. See Securities Exchange Act Release No.79493 (December 7, 2016), 81 FR 90019 (December 13, 2016) (SR–NYSE–2016–82). On May 23, 2017, the Exchange requested another extension of the exemption for the Program. See Letter from Martha Redding, Associate General Counsel, NYSE, to Brent J. Fields, Secretary, Commission, dated May 23, 2017. The pilot period for the Program was extended until December 31, 2017. See Securities Exchange Act Release No. 80844 (June 1, 2017), 82 FR 26562 (June 7, 2017) (SR–NYSE–2017–26). On November 30, 2017, the Exchange requested another extension of the exemption for the Program. See Letter from Martha Redding, Assistant Secretary, NYSE, to Brent J. Fields, Secretary, Commission, dated November 30, 2017. The pilot period for the Program was extended until June 30, 2018. See Securities Exchange Act Release No. 82230 (December 7, 2017), 82 FR 58667 (December 13, 2017) (SR–NYSE–2017–64). On June 14, 2018, the Exchange requested another extension of the exemption for the Program. See Letter from Martha Redding, Associate General Counsel and Assistant Secretary, NYSE to Brent J. Fields, Secretary, Commission, dated June 14, 2018. The pilot period for the Program was extended until December 31, 2018. See Securities Exchange Act Release No. 83540 (June 28, 2018), 83 FR 31234 (July 3, 2018) (SR–NYSE–2018–29). 5 See Letter from Martha Redding, Associate General Counsel and Assistant Secretary, NYSE to Brent J. Fields, Secretary, Commission, dated November 30, 2018, at 1. E:\FR\FM\13DEN1.SGM 13DEN1 Federal Register / Vol. 83, No. 239 / Thursday, December 13, 2018 / Notices conjunction with an immediately effective filing that extends the operation of the Program through the same date.6 In its request to extend the exemption, the Exchange notes that the participation in the Program has increased more recently with additional Retail Liquidity Providers. Accordingly, the Exchange has asked for additional time to both allow for additional opportunities for greater participation in the Program and allow for further assessment of the results of such participation. For this reason and the reasons stated in the Order originally granting the limited exemptions, the Commission finds that extending the exemption, pursuant to its authority under Rule 612(c) of Regulation NMS, is appropriate in the public interest and consistent with the protection of investors. Therefore, it is hereby ordered that, pursuant to Rule 612(c) of Regulation NMS, the Exchange is granted a limited exemption from Rule 612 of Regulation NMS that allows it to accept and rank orders priced equal to or greater than $1.00 per share in increments of $0.001, in connection with the operation of its Retail Liquidity Program, until June 30, 2019. The limited and temporary exemption extended by this Order is subject to modification or revocation if at any time the Commission determines that such action is necessary or appropriate in furtherance of the purposes of the Securities Exchange Act of 1934. Responsibility for compliance with any applicable provisions of the Federal securities laws must rest with the persons relying on the exemptions that are the subject of this Order. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2018–27018 Filed 12–12–18; 8:45 am] amozie on DSK3GDR082PROD with NOTICES1 BILLING CODE 8011–01–P 6 See 7 17 SR–NYSE–2018–59. CFR 200.30–3(a)(83). VerDate Sep<11>2014 17:12 Dec 12, 2018 Jkt 247001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–84762; File No. SR– NYSEArca–2013–107] Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting an Extension to Limited Exemptions From Rule 612(c) of Regulation NMS In Connection With the Exchange’s Retail Liquidity Programs Until June 30, 2019 December 10, 2018. On December 23, 2013, the Securities and Exchange Commission (‘‘Commission’’) issued an order pursuant to its authority under Rule 612(c) of Regulation NMS (‘‘Sub-Penny Rule’’) 1 that granted NYSE Arca, Inc. (‘‘Exchange’’) a limited exemption from the Sub-Penny Rule in connection with the operation of the Exchange’s Retail Liquidity Program (‘‘Program’’).2 The limited exemption was granted concurrently with the Commission’s approval of the Exchange’s proposal to adopt its Program for a one-year pilot term.3 The exemption was granted coterminous with the effectiveness of the pilot Program; both the pilot Program and exemption are scheduled to expire on December 31, 2018.4 1 17 CFR 242.612(c). Securities Exchange Act Release No. 71176 (December 23, 2013), 78 FR 79524 (December 30, 2013) (SR–NYSEArca–2013–107) (‘‘Order’’). 3 See id. 4 On March 19, 2015, the Exchange requested an extension of the exemption for the Program. See letter from Martha Redding, Senior Counsel and Assistant Secretary, to Brent J. Fields, Secretary, Commission, dated March 19, 2015. The pilot period for the Program was extended until September 30, 2015. See Securities Exchange Act Release No. 74572 (Mar. 24, 2015), 80 FR 16705 (Mar. 30, 2015) (SR–NYSEArca–2015–22). On September 17, 2015, the Exchange requested another extension of the exemption for the Program. See letter from Martha Redding, Senior Counsel and Assistant Secretary, to Brent J. Fields, Secretary, Commission, dated September 17, 2015. The pilot period for the Program was extended until March 31, 2016. See Securities Exchange Act Release Nos. 75994 (Sept. 28, 2015), 80 FR 59834 (Oct. 2, 2015) (SR–NYSEArca–2015–84) and 77236 (Feb. 25, 2016), 81 FR 10943 (Mar. 2, 2016) (SR–NYSEArca– 2016–30). On March 17, 2016, the Exchange requested another extension of the exemption for the Program. See letter from Martha Redding, Senior Counsel and Assistant Secretary, to Brent J. Fields, Secretary, Commission, dated March 17, 2016. The pilot period for the Program was extended until August 31, 2016. See Securities Exchange Act Release No. 77425 (Mar. 23, 2016), 81 FR 17523 (Mar. 29, 2016) (SR–NYSEArca–2016–47). On August 8, 2016, the Exchange requested another extension of the exemption for the Program. See Letter from Martha Redding, Associate General Counsel and Assistant Secretary, to Brent J. Fields, Secretary, Commission, dated August 8, 2016. The pilot period for the Program was extended until December 31, 2016. See Securities Exchange Act Release No. 78601 (Aug. 17, 2016), 81 FR 57632 (Aug. 23, 2016) (SR–NYSEArca–2016–113). On November 28, 2016, the Exchange requested another extension of the exemption for the program. 2 See PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 64167 The Exchange now seeks to extend the exemptions until June 30, 2019.5 The Exchange’s request was made in conjunction with an immediately effective filing that extends the operation of the Program through the same date.6 In its request to extend the exemption, the Exchange notes that the participation in the Program has increased more recently with additional Retail Liquidity Providers. Accordingly, the Exchange has asked for additional time to both allow for additional opportunities for greater participation in the Program and allow for further assessment of the results of such participation. For this reason and the reasons stated in the Order originally granting the limited exemptions, the Commission finds that extending the exemption, pursuant to its authority under Rule 612(c) of Regulation NMS, is appropriate in the public interest and consistent with the protection of investors. Therefore, it is hereby ordered that, pursuant to Rule 612(c) of Regulation NMS, the Exchange is granted a limited exemption from Rule 612 of Regulation NMS that allows it to accept and rank orders priced equal to or greater than $1.00 per share in increments of $0.001, in connection with the operation of its Retail Liquidity Program, until June 30, 2019. The limited and temporary exemption extended by this Order is subject to See Letter from Martha Redding, Associate General Counsel and Assistant Secretary, to Brent J. Fields, Secretary, Commission, dated November 28, 2016. The pilot period for the Program was extended until June 30, 2017. See Securities Exchange Act Release No. 79495 (Dec. 7, 2016), 81 FR 90033 (Dec. 13, 2016) (SR–NYSEArca–2016–157). On May 23, 2017, the Exchange requested another extension of the exemption for the program. See Letter from Martha Redding, Associate General Counsel and Assistant Secretary, to Brent J. Fields, Secretary, Commission, dated May 23, 2017. The pilot period for the Program was extended until December 31, 2017. See Securities Exchange Act Release No. 80851 (June 2, 2017), 82 FR 26722 (June 8, 2017) (SR– NYSEArca–2017–63). On November 30, 2017, the Exchange requested another extension of the exemption to the program. See Letter from Martha Redding, Assistant Secretary, NYSE, to Brent J. Fields, Secretary, Commission, dated November 30, 2017. The pilot period for the Program was extended until June 30, 2018. See Securities Exchange Act Release No. 82289 (December 11, 2017), 82 FR 59677 (December 15, 2017) (SR– NYSEArca–2017–137). On June 14, 2018, the Exchange requested another extension of the exemption for the Program. See Letter from Martha Redding, Associate General Counsel and Assistant Secretary, NYSE to Brent J. Fields, Secretary, Commission, dated June 14, 2018. The pilot period for the Program was extended until December 31, 2018. See Securities Exchange Act Release No. 83538 (June 28, 2018), 83 FR 31210 (July 3, 2018) (SR–NYSE–2018–46). 5 See Letter from Martha Redding, Associate General Counsel and Assistant Secretary, NYSE to Brent J. Fields, Secretary, Commission, dated November 30, 2018. 6 See SR–NYSEArca–2018–89. E:\FR\FM\13DEN1.SGM 13DEN1

Agencies

[Federal Register Volume 83, Number 239 (Thursday, December 13, 2018)]
[Notices]
[Pages 64166-64167]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-27018]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84761; File No. SR-NYSE-2011-55]


Self-Regulatory Organizations; New York Stock Exchange LLC; Order 
Granting an Extension to Limited Exemptions From Rule 612(c) of 
Regulation NMS in Connection With the Exchange's Retail Liquidity 
Program Until June 30, 2019

December 10, 2018.
    On July 3, 2012, the Securities and Exchange Commission 
(``Commission'') issued an order pursuant to its authority under Rule 
612(c) of Regulation NMS (``Sub-Penny Rule'') \1\ that granted the New 
York Stock Exchange LLC (``NYSE'') a limited exemption from the Sub-
Penny Rule in connection with the operation of the Exchange's Retail 
Liquidity Program (``Program'').\2\ The limited exemption was granted 
concurrently with the Commission's approval of the Exchange's proposal 
to adopt its Program for a one-year pilot term.\3\ The exemption was 
granted coterminous with the effectiveness of the pilot Program; both 
the pilot Program and exemption are scheduled to expire on December 31, 
2018.\4\
---------------------------------------------------------------------------

    \1\ 17 CFR 242.612(c).
    \2\ See Securities Exchange Act Release No. 67347 (July 3, 
2012), 77 FR 40673 (July 10, 2012) (SR-NYSE-2011-55; SR-NYSEAmex-
2011-84) (``Order'').
    \3\ See id.
    \4\ On July 30, 2013, the Exchange requested an extension of the 
exemption for the Program. See Letter from Janet McGinness, SVP and 
Corporate Secretary, NYSE Euronext, to Elizabeth M. Murphy, 
Secretary, Commission, dated July 30, 2013. The pilot period for the 
Program was extended until July 31, 2014. See Securities Exchange 
Act Release No. 70096 (August 2, 2013), 78 FR 48520 (August 8, 2013) 
(SR-NYSE-2013-48). On July 30, 2014, the Exchange requested another 
extension of the exemption for the Program. See Letter from Martha 
Redding, Chief Counsel, NYSE, to Kevin M O'Neill, Deputy Secretary, 
Commission, dated July 30, 2014. The pilot period for the Program 
was extended until March 31, 2015. See Securities Exchange Act 
Release No. 72629 (July 16, 2014), 79 FR 42564 (July 22, 2014) (SR-
NYSE-2014-35). On February 27, 2015, the Exchange requested another 
extension of the exemption for the Program. See Letter from Martha 
Redding, Senior Counsel, NYSE, to Brent J. Fields, Secretary, 
Commission, dated February 27, 2015. The pilot period for the 
Program was extended until September 30, 2015. See Securities 
Exchange Act Release No. 74454 (March 6, 2015), 80 FR 13054 (March 
12, 2015) (SR-NYSE-2015-10). On September 17, 2015, the Exchange 
requested another extension of the exemption for the Program. See 
Letter from Martha Redding, Senior Counsel, NYSE, to Brent J. 
Fields, Secretary, Commission, dated September 17, 2015. The pilot 
period for the Program was extended until March 31, 2016. See 
Securities Exchange Act Release No. 75993 (September 28, 2015), 80 
FR 59844 (October 2, 2015) (SR-NYSE-2015-41). On March 17, 2016, the 
Exchange requested another extension of the exemption for the 
Program. See Letter from Martha Redding, Senior Counsel, NYSE, to 
Brent J. Fields, Secretary, Commission, dated March 17, 2016. The 
pilot period for the Program was extended until August 31, 2016. See 
Securities Exchange Act Release No. 77426 (March 23, 2016), 81 FR 
17533 (March 29, 2016) (SR-NYSE-2016-25). On August 8, 2016, the 
Exchange requested another extension of the exemption for the 
Program. See Letter from Martha Redding, Associate General Counsel, 
NYSE, to Brent J. Fields, Secretary, Commission, dated August 8, 
2016. The pilot period for the Program was extended until December 
31, 2016. See Securities Exchange Act Release No. 78600 (August 17, 
2016), 81 FR 57642 (August 23, 2016) (SR-NYSE-2016-54). On November 
28, 2016, the Exchange requested another extension of the exemption 
for the Program. See Letter from Martha Redding, Associate General 
Counsel, NYSE, to Brent J. Fields, Secretary, Commission, dated 
November 28, 2016. The pilot period for the Program was extended 
until June 30, 2017. See Securities Exchange Act Release No.79493 
(December 7, 2016), 81 FR 90019 (December 13, 2016) (SR-NYSE-2016-
82). On May 23, 2017, the Exchange requested another extension of 
the exemption for the Program. See Letter from Martha Redding, 
Associate General Counsel, NYSE, to Brent J. Fields, Secretary, 
Commission, dated May 23, 2017. The pilot period for the Program was 
extended until December 31, 2017. See Securities Exchange Act 
Release No. 80844 (June 1, 2017), 82 FR 26562 (June 7, 2017) (SR-
NYSE-2017-26). On November 30, 2017, the Exchange requested another 
extension of the exemption for the Program. See Letter from Martha 
Redding, Assistant Secretary, NYSE, to Brent J. Fields, Secretary, 
Commission, dated November 30, 2017. The pilot period for the 
Program was extended until June 30, 2018. See Securities Exchange 
Act Release No. 82230 (December 7, 2017), 82 FR 58667 (December 13, 
2017) (SR-NYSE-2017-64). On June 14, 2018, the Exchange requested 
another extension of the exemption for the Program. See Letter from 
Martha Redding, Associate General Counsel and Assistant Secretary, 
NYSE to Brent J. Fields, Secretary, Commission, dated June 14, 2018. 
The pilot period for the Program was extended until December 31, 
2018. See Securities Exchange Act Release No. 83540 (June 28, 2018), 
83 FR 31234 (July 3, 2018) (SR-NYSE-2018-29).
---------------------------------------------------------------------------

    The Exchange now seeks a six month extension of the exemption, 
which would be until June 30, 2019.\5\ The Exchange's request was made 
in

[[Page 64167]]

conjunction with an immediately effective filing that extends the 
operation of the Program through the same date.\6\ In its request to 
extend the exemption, the Exchange notes that the participation in the 
Program has increased more recently with additional Retail Liquidity 
Providers. Accordingly, the Exchange has asked for additional time to 
both allow for additional opportunities for greater participation in 
the Program and allow for further assessment of the results of such 
participation. For this reason and the reasons stated in the Order 
originally granting the limited exemptions, the Commission finds that 
extending the exemption, pursuant to its authority under Rule 612(c) of 
Regulation NMS, is appropriate in the public interest and consistent 
with the protection of investors.
---------------------------------------------------------------------------

    \5\ See Letter from Martha Redding, Associate General Counsel 
and Assistant Secretary, NYSE to Brent J. Fields, Secretary, 
Commission, dated November 30, 2018, at 1.
    \6\ See SR-NYSE-2018-59.
---------------------------------------------------------------------------

    Therefore, it is hereby ordered that, pursuant to Rule 612(c) of 
Regulation NMS, the Exchange is granted a limited exemption from Rule 
612 of Regulation NMS that allows it to accept and rank orders priced 
equal to or greater than $1.00 per share in increments of $0.001, in 
connection with the operation of its Retail Liquidity Program, until 
June 30, 2019.
    The limited and temporary exemption extended by this Order is 
subject to modification or revocation if at any time the Commission 
determines that such action is necessary or appropriate in furtherance 
of the purposes of the Securities Exchange Act of 1934. Responsibility 
for compliance with any applicable provisions of the Federal securities 
laws must rest with the persons relying on the exemptions that are the 
subject of this Order.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(83).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2018-27018 Filed 12-12-18; 8:45 am]
BILLING CODE 8011-01-P
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