Fixed Income Market Structure Advisory Committee, 67396-67397 [2018-28314]

Download as PDF 67396 Federal Register / Vol. 83, No. 248 / Friday, December 28, 2018 / Notices on a transparent market for bond trading. The proposed waiver of the New Firm Fee and BTL fee is equitable and not unfairly discriminatory because it would be offered to all market participants that wish to trade at the Exchange the narrower class of debt securities only. amozie on DSK3GDR082PROD with NOTICES1 B. Self-Regulatory Organization’s Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,7 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. Debt securities typically trade in a decentralized over-the-counter (‘‘OTC’’) dealer market that is less liquid and transparent than the equities markets. The Exchange believes that the proposed change would increase competition with these OTC venues by reducing the cost of being approved as and operating as an Exchange member organization that solely trades bonds at the Exchange, which the Exchange believes will enhance market quality through the additional display of liquidity and increased execution opportunities in Exchange-traded bonds at the Exchange. The Exchange notes that it operates in a highly competitive market in which market participants can readily favor competing venues that are not transparent. In such an environment, the Exchange must continually review, and consider adjusting its fees and rebates to remain competitive with other exchanges as well as with alternative trading systems and other venues that are not required to comply with the statutory standards applicable to exchanges. Because competitors are free to modify their own fees and credits in response, and because market participants may readily adjust their order routing practices, the Exchange believes that the degree to which fee changes in this market may impose any burden on competition is extremely limited. As a result of all of these considerations, the Exchange does not believe that the proposed change will impair the ability of member organizations or competing order execution venues to maintain their competitive standing in the financial markets. 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) 8 of the Act and subparagraph (f)(2) of Rule 19b–4 9 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 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) 10 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: 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– NYSE–2018–65 on the subject line. Paper Comments • Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSE–2018–65. 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/ 8 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). 10 15 U.S.C. 78s(b)(2)(B). 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 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–NYSE–2018–65, and should be submitted on or before January 18, 2019. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Brent J. Fields, Secretary. [FR Doc. 2018–28196 Filed 12–27–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–84943; File No. 265–30] Fixed Income Market Structure Advisory Committee Securities and Exchange Commission. ACTION: Notice of meeting. AGENCY: Notice is being provided that the Securities and Exchange Commission Fixed Income Market Structure Advisory Committee will hold a public meeting on Monday, January 28, 2019 in Multi-Purpose Room LL–006 at the Commission’s headquarters, 100 F Street NE, Washington, DC. The meeting will begin at 9:30 a.m. (ET) and will be open to the public. The meeting will be webcast on the Commission’s website at www.sec.gov. Persons needing special accommodations to take part because of a disability should notify the contact persons listed below. The public is SUMMARY: 9 17 7 15 U.S.C. 78f(b)(8). VerDate Sep<11>2014 18:13 Dec 27, 2018 Jkt 247001 PO 00000 Frm 00186 Fmt 4703 11 17 Sfmt 4703 E:\FR\FM\28DEN1.SGM CFR 200.30–3(a)(12). 28DEN1 Federal Register / Vol. 83, No. 248 / Friday, December 28, 2018 / Notices invited to submit written statements to the Committee. The meeting will include updates and presentations from the subcommittees. DATES: The public meeting will be held on January 28, 2019. Written statements should be received on or before January 23, 2019. ADDRESSES: The meeting will be held at the Commission’s headquarters, 100 F Street NE, Washington, DC. Written statements may be submitted by any of the following methods: amozie on DSK3GDR082PROD with NOTICES1 Electronic Statements • Use the Commission’s internet submission form (https://www.sec.gov/ rules/other.shtml); or • Send an email message to rulecomments@sec.gov. Please include File Number 265–30 on the subject line; or Paper Statements • Send paper statements in triplicate to Brent J. Fields, Federal Advisory Committee Management Officer, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to File No. 265–30. This file number should be included on the subject line if email is used. To help us process and review your statement more efficiently, please use only one method. The Commission will post all statements on the Commission’s internet website at https:// www.sec.gov/comments/265-30/26530.shtml. Statements also will be available for website viewing and printing in the Commission’s Public Reference Room, 100 F Street NE, Room 1580, Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. All statements received will be posted without change. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. FOR FURTHER INFORMATION CONTACT: David Dimitrious, Senior Special Counsel, at (202) 551–5131, or Benjamin Bernstein, Special Counsel, at (202) 551–5354, Division of Trading and Markets, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–7010. SUPPLEMENTARY INFORMATION: In accordance with Section 10(a) of the Federal Advisory Committee Act, 5 U.S.C.—App. 1, and the regulations thereunder, Brett Redfearn, Designated Federal Officer of the Committee, has ordered publication of this notice. VerDate Sep<11>2014 18:13 Dec 27, 2018 Jkt 247001 Dated: December 21, 2018. Brent J. Fields, Committee Management Officer. [FR Doc. 2018–28314 Filed 12–27–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–84898; File No. SR– NYSEARCA–2018–93] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Options Fees and Charges and Equities Fees and Charges To Extend for One Year a Fee Discount for the Partial Cabinet Solution Bundles Offered in Connection With the Exchange’s CoLocation Services December 20, 2018. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on December 12, 2018, NYSE Arca, Inc. (the ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with the Securities and Exchange Commission (the ‘‘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 its Options Fees and Charges (the ‘‘Options Fee Schedule’’) and Equities Fees and Charges (the ‘‘Equities Fee Schedule’’, together with the Options Fee Schedule, the ‘‘Fee Schedules’’) to extend for one year a fee discount for the Partial Cabinet Solution bundles offered in connection with the Exchange’s colocation services. 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 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 PO 00000 Frm 00187 Fmt 4703 67397 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. 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 Exchange’s Fee Schedules to extend a fee discount for the Partial Cabinet Solution bundles offered in connection with the Exchange’s co-location services.4 The Exchange offers the four Partial Cabinet Solution bundles to attract smaller Users, such as those with minimal power or cabinet space demands, or those for which the attendant costs of having a dedicated cabinet and related connectivity are too burdensome.5 The Exchange offers Users 6 that purchase a Partial Cabinet Solution bundle on or before December 31, 2018 a 50% reduction in the monthly recurring charges (‘‘MRC’’) for the first 24 months.7 The Exchange proposes to extend the 50% fee reduction to those Users that purchase a Partial Cabinet Solution bundle on or before December 31, 2019.8 The Exchange does not 4 The Exchange initially filed rule changes relating to its co-location services with the Securities and Exchange Commission (‘‘Commission’’) in 2010. See Securities Exchange Act Release No. 63275 (November 8, 2010), 75 FR 70048 (November 16, 2010) (SR–NYSEArca–2010– 100) (the ‘‘Original Co-location Filing’’). The Exchange operates a data center in Mahwah, New Jersey (the ‘‘data center’’) from which it provides co-location services to Users. 5 See Securities Exchange Act Release No. 77070 (February. 5, 2016), 81 FR 7401 (February. 11, 2016) (SR–NYSEArca–2015–102). 6 For purposes of the Exchange’s co-location services, a ‘‘User’’ means any market participant that requests to receive co-location services directly from the Exchange. See Securities Exchange Act Release No. 76010 (September 29, 2015), 80 FR 60197 (October 5, 2015) (SR–NYSEArca–2015–82). As specified in the Fee Schedules, a User that incurs co-location fees for a particular co-location service pursuant thereto would not be subject to colocation fees for the same co-location service charged by the Exchange’s affiliates New York Stock Exchange LLC (‘‘NYSE LLC’’) and NYSE MKT LLC (‘‘NYSE MKT’’ and, together with NYSE LLC, the ‘‘Affiliate SROs’’). See Securities Exchange Act Release No. 70173 (August 13, 2013), 78 FR 50459 (August 19, 2013) (SR–NYSEArca–2013–80). 7 See Securities Exchange Act Release No. 79716 (December 30, 2016), 82 FR 1774 (January 6, 2017) (SR–NYSEArca–2016–168). 8 The Exchange previously extended the MRC reduction for one year. See Securities Exchange Act Continued Sfmt 4703 E:\FR\FM\28DEN1.SGM 28DEN1

Agencies

[Federal Register Volume 83, Number 248 (Friday, December 28, 2018)]
[Notices]
[Pages 67396-67397]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-28314]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84943; File No. 265-30]


Fixed Income Market Structure Advisory Committee

AGENCY: Securities and Exchange Commission.

ACTION: Notice of meeting.

-----------------------------------------------------------------------

SUMMARY: Notice is being provided that the Securities and Exchange 
Commission Fixed Income Market Structure Advisory Committee will hold a 
public meeting on Monday, January 28, 2019 in Multi-Purpose Room LL-006 
at the Commission's headquarters, 100 F Street NE, Washington, DC. The 
meeting will begin at 9:30 a.m. (ET) and will be open to the public. 
The meeting will be webcast on the Commission's website at www.sec.gov. 
Persons needing special accommodations to take part because of a 
disability should notify the contact persons listed below. The public 
is

[[Page 67397]]

invited to submit written statements to the Committee. The meeting will 
include updates and presentations from the subcommittees.

DATES: The public meeting will be held on January 28, 2019. Written 
statements should be received on or before January 23, 2019.

ADDRESSES: The meeting will be held at the Commission's headquarters, 
100 F Street NE, Washington, DC. Written statements may be submitted by 
any of the following methods:

Electronic Statements

     Use the Commission's internet submission form (https://www.sec.gov/rules/other.shtml); or
     Send an email message to rule-comments@sec.gov. Please 
include File Number 265-30 on the subject line; or

Paper Statements

     Send paper statements in triplicate to Brent J. Fields, 
Federal Advisory Committee Management Officer, Securities and Exchange 
Commission, 100 F Street NE, Washington, DC 20549-1090.

All submissions should refer to File No. 265-30. This file number 
should be included on the subject line if email is used. To help us 
process and review your statement more efficiently, please use only one 
method. The Commission will post all statements on the Commission's 
internet website at https://www.sec.gov/comments/265-30/265-30.shtml.

    Statements also will be available for website viewing and printing 
in the Commission's Public Reference Room, 100 F Street NE, Room 1580, 
Washington, DC 20549, on official business days between the hours of 
10:00 a.m. and 3:00 p.m. All statements received will be posted without 
change. Persons submitting comments are cautioned that we do not redact 
or edit personal identifying information from submissions. You should 
submit only information that you wish to make available publicly.

FOR FURTHER INFORMATION CONTACT: David Dimitrious, Senior Special 
Counsel, at (202) 551-5131, or Benjamin Bernstein, Special Counsel, at 
(202) 551-5354, Division of Trading and Markets, Securities and 
Exchange Commission, 100 F Street NE, Washington, DC 20549-7010.

SUPPLEMENTARY INFORMATION: In accordance with Section 10(a) of the 
Federal Advisory Committee Act, 5 U.S.C.--App. 1, and the regulations 
thereunder, Brett Redfearn, Designated Federal Officer of the 
Committee, has ordered publication of this notice.

    Dated: December 21, 2018.
Brent J. Fields,
Committee Management Officer.
[FR Doc. 2018-28314 Filed 12-27-18; 8:45 am]
 BILLING CODE 8011-01-P
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