Self-Regulatory Organization; Cboe BYX Exchange, Inc.; Order Granting an Extension to Limited Exemption From Rule 612(c) of Regulation NMS in Connection With the Exchange's Retail Price Improvement Program, 66329-66330 [2018-27820]
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Federal Register / Vol. 83, No. 246 / Wednesday, December 26, 2018 / Notices
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act. The
Exchange does not believe that the
proposed change burdens competition,
but instead, enhances competition as it
is intended to increase the
competitiveness of BZX by modifying
pricing incentives in order to attract
order flow and incentivize participants
to increase their participation on the
Exchange. The Exchange notes that it
operates in a highly competitive market
in which market participants can
readily direct order flow to competing
venues if they deem fee structures to be
unreasonable or excessive. The
proposed change is intended to enhance
the rebate offered for certain nondisplayed liquidity added to the
Exchange, which is intended to draw
additional liquidity to the Exchange.
The Exchange does not believe the
proposed amendment would burden
intramarket competition as it would be
available to all Members uniformly.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
Members or other interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 13 and paragraph (f) of Rule
19b–4 thereunder.14 At any time within
60 days of the filing of the proposed rule
change, the Commission summarily may
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.
amozie on DSK3GDR082PROD with NOTICES1
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposal 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 rule-comments@
sec.gov. Please include File No. SR–
CboeBZX–2018–087 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 No.
SR–CboeBZX–2018–087. 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 such
filing will also 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
No. SR–CboeBZX–2018–087 and should
be submitted on or before January 16,
2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2018–27816 Filed 12–21–18; 8:45 am]
BILLING CODE 8011–01–P
13 15
U.S.C. 78s(b)(3)(A).
14 17 CFR 240.19b–4(f).
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15 17
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84845; File No. SR–BYX–
2012–019]
Self-Regulatory Organization; Cboe
BYX Exchange, Inc.; Order Granting an
Extension to Limited Exemption From
Rule 612(c) of Regulation NMS in
Connection With the Exchange’s Retail
Price Improvement Program
December 18, 2018.
On November 27, 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 BATS BYXExchange, Inc. (k/n/a ‘‘Cboe BYX’’ or
the ‘‘Exchange’’) a limited exemption
from the Sub-Penny Rule in connection
with the operation of the Exchange’s
Retail Price Improvement (‘‘RPI’’)
Program (the ‘‘Program’’). The limited
exemption was granted concurrently
with the Commission’s approval of the
Exchange’s proposal to adopt the
Program for a one-year pilot term.2 The
exemption was granted coterminous
with the effectiveness of the pilot
Program and has been extended six
times; 3 both the pilot Program and
1 17
CFR 242.612(c).
Securities Exchange Act Release No. 68303
(November 27, 2012), 77 FR 71652 (December 3,
2012) (‘‘RPI Approval Order’’) (SR–BXY–2012–019).
3 See Securities Exchange Act Release Nos. 71249
(January 7, 2014), 79 FR 2229 (January 13, 2012)
(SR–BYX–2014–001) (Notice of Filing and
Immediate Effectiveness of a Proposed Rule Change
to Extend the Pilot Period for the RPI); 71250
(January 7, 2014), 79 FR 2234 (January 13, 2012)
(Order Granting an Extension to Limited Exemption
From Rule 612(c) of Regulation NMS in Connection
With the Exchange’s Retail Price Improvement
Program); 74111 (January 22, 2015), 80 FR 4598
(January 28, 2015) (SR–BYX–2015–05) (Notice of
Filing and Immediate Effectiveness of a Proposed
Rule Change to Extend the Pilot Period for the RPI);
and 74115 (January 22, 2015), 80 FR 4324 (January
27, 2015) (Order Granting an Extension to Limited
Exemption From Rule 612(c) of Regulation NMS in
Connection With the Exchange’s Retail Price
Improvement Program); 76965 (January 22, 2016),
81 FR 4682 (January 27, 2016) (SR–BYX–2016–01)
(Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change to Extend the Pilot Period for
the RPI); 76953 (January 21, 2016), 81 FR 4728
(January 27, 2016) (Order Granting an Extension to
Limited Exemption From Rule 612(c) of Regulation
NMS in Connection With the Exchange’s Retail
Price Improvement Program); 78180 (June 28, 2016),
81 FR 43306 (July 1, 2016) (SR–BYX–2016–15)
(Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change to Extend the Pilot Period for
the RPI); 78178 (July 5, 2016), 81 FR 43689 (July
5, 2016) (Order Granting an Extension to Limited
Exemption From Rule 612(c) of Regulation NMS in
Connection With the Exchange’s Retail Price
Improvement Program); 81368 (August 10, 2017), 82
FR 38960 (August 16, 2017) (SR–BatsBYX–2017–18)
(Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change to Extend the Pilot Period for
the RPI); 81364 (August 8, 2018), 82 FR 38733
2 See
CFR 200.30–3(a)(12).
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66330
Federal Register / Vol. 83, No. 246 / Wednesday, December 26, 2018 / Notices
amozie on DSK3GDR082PROD with NOTICES1
exemption are scheduled to expire on
December 31, 2018.
The Exchange now seeks to extend
the exemption until June 30, 2019.4 The
Exchange’s request was made in
conjunction with an immediately
effective filing that extends the
operation of the Program until June 30,
2019.5 In its request to extend the
exemption, the Exchange notes that the
Program was implemented gradually
over time. Accordingly, the Exchange
has asked for additional time to allow
itself and the Commission to analyze
data concerning the Program, which the
Exchange committed to provide to the
Commission, as well as to allow
additional opportunities for greater
participation in the Program.6 For this
reason and the reasons stated in the
Order originally granting the limited
exemption, 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(c) 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 RPI Program.
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. 2018–27820 Filed 12–21–18; 8:45 am]
BILLING CODE P
SOCIAL SECURITY ADMINISTRATION
[Docket No: SSA–2018–0069]
Agency Information Collection
Activities: Proposed Request and
Comment Request
The Social Security Administration
(SSA) publishes a list of information
collection packages requiring clearance
by the Office of Management and
Budget (OMB) in compliance with
Public Law 104–13, the Paperwork
Reduction Act of 1995, effective October
1, 1995. This notice includes an
extension and revisions of OMBapproved information collections, and
one new information collection.
SSA is soliciting comments on the
accuracy of the agency’s burden
estimate; the need for the information;
its practical utility; ways to enhance its
quality, utility, and clarity; and ways to
minimize burden on respondents,
including the use of automated
collection techniques or other forms of
information technology. Mail, email, or
fax your comments and
recommendations on the information
collection(s) to the OMB Desk Officer
and SSA Reports Clearance Officer at
the following addresses or fax numbers.
(OMB), Office of Management and
Budget, Attn: Desk Officer for SSA, Fax:
202–395–6974, Email address: OIRA_
Submission@omb.eop.gov.
(SSA), Social Security
Administration, OLCA, Attn: Reports
Clearance Director, 3100 West High
Rise, 6401 Security Blvd., Baltimore,
MD 21235, Fax: 410–966–2830, Email
address: OR.Reports.Clearance@ssa.gov,
or you may submit your comments
online through www.regulations.gov,
referencing Docket ID Number [SSA–
2018–0069].
I. The information collections below
are pending at SSA. SSA will submit
them to OMB within 60 days from the
date of this notice. To be sure we
consider your comments, we must
receive them no later than February 25,
2019. Individuals can obtain copies of
the collection instruments by writing to
the above email address.
1. Employer Verification of Records
for Children Under Age Seven—20 CFR
404.801–404.803, 404.821–404.822—
0960–0505. SSA discovered as many as
70 percent of the wage reports we
receive for children under age seven are
actually the earnings of someone other
than the child. To ensure we credit the
correct person with the reported
earnings, SSA verifies wage reports for
children under age seven with the
children’s employers before posting to
the earnings record. SSA uses Form
SSA–L3231–C1, Request for Employer
Information, for this purpose. The
respondents are employers who report
earnings for children under age seven.
Type of Request: Revision of an OMBapproved information collection.
Modality of completion
Number of
respondents
Frequency of
response
Average
burden per
response
(minutes)
Estimated total
annual burden
(hours)
SSA–L3231–C1 ...............................................................................................
11,823
1
10
1,971
2. Request for Reinstatement (Title
XVI)—20 CFR 416.999–416.999d—
0960–0744. SSA uses Form SSA–372 to:
(1) Inform previously entitled
beneficiaries of the expedited
reinstatement (EXR) requirements of
Supplemental Security Income (SSI)
payments under Title XVI of the Social
Security Act (Act); and (2) document
their requests for EXR. SSA requires this
application for reinstatement of benefits
for respondents to obtain SSI disability
payments for EXR. When an SSA claims
representative learns of individuals
whose medical conditions no longer
permit them to perform substantial
gainful activity as defined in the Act,
the claims representative gives the form
to the previously entitled individuals
(or mails it to those who request EXR
over the phone). SSA employees collect
(August 15, 2017) (Order Granting an Extension to
Limited Exemption From Rule 612(c) of Regulation
NMS in Connection With the Exchange’s Retail
Price Improvement Program); 83758 (August 1,
2018), 83 FR 38757 (August 7, 2018) (SR–
CboeBYX–2018–015) (Notice of Filing and
Immediate Effectiveness of a Proposed Rule Change
to Extend the Pilot Period for the RPI); 83756
(August 1, 2018), 83 FR 38748 (August 7, 2018)
(Order Granting an Extension to Limited Exemption
From Rule 612(c) of Regulation NMS in Connection
With the Exchange’s Retail Price Improvement
Program). The Exchange has filed to make the pilot
program permanent. See Securities Exchange Act
Release No. 83831 (August 13, 2018), 83 FR 41128
(August 17, 2018) (SR–CboeBYX–2018–014).
4 See letter from Anders Franzon, Senior Vice
President and Deputy General Counsel, Cboe BYX,
to Brent J. Fields, Secretary, Commission, dated
December 11, 2018.
5 See SR–CboeBYX–2018–025.
6 See RPI Approval Order, supra note 2, at 77 FR
at 71657.
7 17 CFR 200.30–3(a)(83).
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]]>Agencies
[Federal Register Volume 83, Number 246 (Wednesday, December 26, 2018)]
[Notices]
[Pages 66329-66330]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-27820]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-84845; File No. SR-BYX-2012-019]
Self-Regulatory Organization; Cboe BYX Exchange, Inc.; Order
Granting an Extension to Limited Exemption From Rule 612(c) of
Regulation NMS in Connection With the Exchange's Retail Price
Improvement Program
December 18, 2018.
On November 27, 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 BATS
BYX-Exchange, Inc. (k/n/a ``Cboe BYX'' or the ``Exchange'') a limited
exemption from the Sub-Penny Rule in connection with the operation of
the Exchange's Retail Price Improvement (``RPI'') Program (the
``Program''). The limited exemption was granted concurrently with the
Commission's approval of the Exchange's proposal to adopt the Program
for a one-year pilot term.\2\ The exemption was granted coterminous
with the effectiveness of the pilot Program and has been extended six
times; \3\ both the pilot Program and
[[Page 66330]]
exemption are scheduled to expire on December 31, 2018.
---------------------------------------------------------------------------
\1\ 17 CFR 242.612(c).
\2\ See Securities Exchange Act Release No. 68303 (November 27,
2012), 77 FR 71652 (December 3, 2012) (``RPI Approval Order'') (SR-
BXY-2012-019).
\3\ See Securities Exchange Act Release Nos. 71249 (January 7,
2014), 79 FR 2229 (January 13, 2012) (SR-BYX-2014-001) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change to
Extend the Pilot Period for the RPI); 71250 (January 7, 2014), 79 FR
2234 (January 13, 2012) (Order Granting an Extension to Limited
Exemption From Rule 612(c) of Regulation NMS in Connection With the
Exchange's Retail Price Improvement Program); 74111 (January 22,
2015), 80 FR 4598 (January 28, 2015) (SR-BYX-2015-05) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change to
Extend the Pilot Period for the RPI); and 74115 (January 22, 2015),
80 FR 4324 (January 27, 2015) (Order Granting an Extension to
Limited Exemption From Rule 612(c) of Regulation NMS in Connection
With the Exchange's Retail Price Improvement Program); 76965
(January 22, 2016), 81 FR 4682 (January 27, 2016) (SR-BYX-2016-01)
(Notice of Filing and Immediate Effectiveness of a Proposed Rule
Change to Extend the Pilot Period for the RPI); 76953 (January 21,
2016), 81 FR 4728 (January 27, 2016) (Order Granting an Extension to
Limited Exemption From Rule 612(c) of Regulation NMS in Connection
With the Exchange's Retail Price Improvement Program); 78180 (June
28, 2016), 81 FR 43306 (July 1, 2016) (SR-BYX-2016-15) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change to
Extend the Pilot Period for the RPI); 78178 (July 5, 2016), 81 FR
43689 (July 5, 2016) (Order Granting an Extension to Limited
Exemption From Rule 612(c) of Regulation NMS in Connection With the
Exchange's Retail Price Improvement Program); 81368 (August 10,
2017), 82 FR 38960 (August 16, 2017) (SR-BatsBYX-2017-18) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change to
Extend the Pilot Period for the RPI); 81364 (August 8, 2018), 82 FR
38733 (August 15, 2017) (Order Granting an Extension to Limited
Exemption From Rule 612(c) of Regulation NMS in Connection With the
Exchange's Retail Price Improvement Program); 83758 (August 1,
2018), 83 FR 38757 (August 7, 2018) (SR-CboeBYX-2018-015) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change to
Extend the Pilot Period for the RPI); 83756 (August 1, 2018), 83 FR
38748 (August 7, 2018) (Order Granting an Extension to Limited
Exemption From Rule 612(c) of Regulation NMS in Connection With the
Exchange's Retail Price Improvement Program). The Exchange has filed
to make the pilot program permanent. See Securities Exchange Act
Release No. 83831 (August 13, 2018), 83 FR 41128 (August 17, 2018)
(SR-CboeBYX-2018-014).
---------------------------------------------------------------------------
The Exchange now seeks to extend the exemption until June 30,
2019.\4\ The Exchange's request was made in conjunction with an
immediately effective filing that extends the operation of the Program
until June 30, 2019.\5\ In its request to extend the exemption, the
Exchange notes that the Program was implemented gradually over time.
Accordingly, the Exchange has asked for additional time to allow itself
and the Commission to analyze data concerning the Program, which the
Exchange committed to provide to the Commission, as well as to allow
additional opportunities for greater participation in the Program.\6\
For this reason and the reasons stated in the Order originally granting
the limited exemption, 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.
---------------------------------------------------------------------------
\4\ See letter from Anders Franzon, Senior Vice President and
Deputy General Counsel, Cboe BYX, to Brent J. Fields, Secretary,
Commission, dated December 11, 2018.
\5\ See SR-CboeBYX-2018-025.
\6\ See RPI Approval Order, supra note 2, at 77 FR at 71657.
---------------------------------------------------------------------------
Therefore, it is hereby ordered, that, pursuant to Rule 612(c) of
Regulation NMS, the Exchange is granted a limited exemption from Rule
612(c) 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 RPI Program.
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. 2018-27820 Filed 12-21-18; 8:45 am]
BILLING CODE P
