Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Commentary .02 to Rule 960NY in Order To Extend the Penny Pilot in Options Classes in Certain Issues, 27665-27666 [2019-12446]
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Federal Register / Vol. 84, No. 114 / Thursday, June 13, 2019 / Notices
are available at www.prc.gov, Docket
Nos. MC2019–149, CP2019–166.
POSTAL SERVICE
Product Change—Priority Mail and
First-Class Package Service
Negotiated Service Agreement
Elizabeth Reed,
Attorney, Corporate and Postal Business Law.
[FR Doc. 2019–12432 Filed 6–12–19; 8:45 am]
AGENCY:
ACTION:
Postal ServiceTM.
BILLING CODE 7710–12–P
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:
DATES:
Date of required notice: June 13,
2019.
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 June 7, 2019, it
filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail & First-Class Package
Service Contract 103 to Competitive
Product List. Documents are available at
www.prc.gov, Docket Nos. MC2019–150,
CP2019–167.
SUPPLEMENTARY INFORMATION:
Elizabeth Reed,
Attorney, Corporate and Postal Business Law.
[FR Doc. 2019–12433 Filed 6–12–19; 8:45 am]
BILLING CODE 7710–12–P
Product Change—Priority Mail
Negotiated Service Agreement
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:
DATES:
Date of required notice: June 13,
2019.
FOR FURTHER INFORMATION CONTACT:
khammond on DSKBBV9HB2PROD with NOTICES
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 June 7, 2019, it
filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Contract 532 to
Competitive Product List. Documents
SUPPLEMENTARY INFORMATION:
VerDate Sep<11>2014
16:55 Jun 12, 2019
[Release No. 34–86061; File No. SR–
NYSEAMER–2019–22]
Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Commentary
.02 to Rule 960NY in Order To Extend
the Penny Pilot in Options Classes in
Certain Issues
June 7, 2019.
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 May 30,
2019, NYSE American LLC (‘‘NYSE
American’’ or the ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I and II 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
POSTAL SERVICE
AGENCY:
SECURITIES AND EXCHANGE
COMMISSION
Jkt 247001
The Exchange proposes to amend
Commentary .02 to Rule 960NY in order
to extend the Penny Pilot in options
classes in certain issues (‘‘Pilot
Program’’) previously approved by the
Securities and Exchange Commission
(‘‘Commission’’) through December 31,
2019. The Pilot Program is currently
scheduled to expire on June 30, 2019.
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
1 15
U.S.C.78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
PO 00000
Frm 00087
Fmt 4703
Sfmt 4703
27665
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 hereby proposes to
amend Commentary .02 to Rule 960NY,
to extend the time period of the Pilot
Program, which is currently scheduled
to expire on June 30, 2019, through
December 31. 2019.4 The Exchange
believes that the proposed extension
would allow for further analysis of the
Pilot Program and a determination of
how the Pilot Program should be
structured in the future.
This filing does not propose any
substantive changes to the Pilot
Program: All classes currently
participating will remain the same and
all minimum increments will remain
unchanged. The Exchange believes the
benefits to public customers and other
market participants who will be able to
express their true prices to buy and sell
options have been demonstrated to
outweigh the increase in quote traffic.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) 5 of Act, in
general, and furthers the objectives of
Section 6(b)(5),6 in particular, in that it
is designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
facilitating transactions in securities,
and to remove impediments to and
perfect the mechanisms of a free and
open market and a national market
system.
In particular, the proposed rule
change, which extends the Penny Pilot
Program for six months, allows the
Exchange to continue to participate in a
program that has been viewed as
beneficial to traders, investors and
public customers and viewed as
successful by the other options
exchanges participating in it.
Accordingly, the Exchange believes that
the proposal is consistent with the Act
4 See Securities and Exchange Act Release No.
84871 (December 19, 2018) 83 FR 66789 (December
27, 2018) (SR–NYSE AMER–2018–57).
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
E:\FR\FM\13JNN1.SGM
13JNN1
27666
Federal Register / Vol. 84, No. 114 / Thursday, June 13, 2019 / Notices
because it would allow the Exchange to
extend the Pilot Program prior to its
expiration on June 30, 2019. The
Exchange notes that this proposal does
not propose any new policies or
provisions that are unique or unproven,
but instead relates to the continuation of
an existing program that operates on a
pilot basis.
The Exchange believes that the Pilot
Program promotes just and equitable
principles of trade by enabling public
customers and other market participants
to express their true prices to buy and
sell options to the benefit of all market
participants.
The proposal to extend the Pilot
Program is designed to promote just and
equitable principles of trade, to foster
cooperation and coordination with
persons engaged in facilitating
transactions in securities, and to remove
impediments to and perfect the
mechanisms of a free and open market
and a national market system, by
allowing the Exchange and the
Commission additional time to analyze
the impact of the Pilot Program while
also allowing the Exchange to continue
to compete for order flow with other
exchanges in option issues trading as
part of the Pilot Program.
khammond on DSKBBV9HB2PROD with NOTICES
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. Specifically,
the Exchange believes that, by extending
the expiration of the Pilot Program, the
proposed rule change will allow for
further analysis of the Pilot Program and
a determination of how this Program
should be structured in the future. In
doing so, the proposed rule change will
also serve to promote regulatory clarity
and consistency, thereby reducing
burdens on the marketplace and
facilitating investor protection. The
Pilot Program is an industry-wide
initiative supported by all other option
exchanges. The Exchange believes that
extending the Pilot Program will allow
for continued competition between
Exchange market participants trading
similar products as their counterparts
on other exchanges, while at the same
time allowing the Exchange to continue
to compete for order flow with other
exchanges in option issues trading as
part of the Pilot Program.
VerDate Sep<11>2014
16:55 Jun 12, 2019
Jkt 247001
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Electronic Comments
No written comments were solicited
or received with respect to the proposed
rule change.
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NYSEAMER–2019–22 on the subject
line.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 7 and Rule
19b–4(f)(6) thereunder.8 Because the
proposed rule change does not: (i)
Significantly affect the protection of
investors or the public interest; (ii)
impose any significant burden on
competition; and (iii) become operative
prior to 30 days from the date on which
it was filed, or such shorter time as the
Commission may designate, if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)(iii)
thereunder.9
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:
7 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
9 17 CFR 240.19b–4(f)(6)(iii). Rule 19b–4(f)(6)(iii)
requires a self-regulatory organization to give the
Commission written notice of its intent to file the
proposed rule change at least five business days
prior to the date of filing of the proposed rule
change, or such shorter time as designated by the
Commission. The Commission notes that the
Exchange satisfied this requirement.
10 15 U.S.C. 78s(b)(2)(B).
8 17
PO 00000
Frm 00088
Fmt 4703
Sfmt 4703
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
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–NYSEAMER–2019–22. 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–NYSEAMER–2019–22 and
should be submitted on or before July 5,
2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–12446 Filed 6–12–19; 8:45 am]
BILLING CODE 8011–01–P
11 17
E:\FR\FM\13JNN1.SGM
CFR 200.30–3(a)(12).
13JNN1
]]>Agencies
[Federal Register Volume 84, Number 114 (Thursday, June 13, 2019)]
[Notices]
[Pages 27665-27666]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-12446]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-86061; File No. SR-NYSEAMER-2019-22]
Self-Regulatory Organizations; NYSE American LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
Commentary .02 to Rule 960NY in Order To Extend the Penny Pilot in
Options Classes in Certain Issues
June 7, 2019.
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 May 30, 2019, NYSE American LLC (``NYSE American'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and II
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 Commentary .02 to Rule 960NY in
order to extend the Penny Pilot in options classes in certain issues
(``Pilot Program'') previously approved by the Securities and Exchange
Commission (``Commission'') through December 31, 2019. The Pilot
Program is currently scheduled to expire on June 30, 2019. 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.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange hereby proposes to amend Commentary .02 to Rule 960NY,
to extend the time period of the Pilot Program, which is currently
scheduled to expire on June 30, 2019, through December 31. 2019.\4\ The
Exchange believes that the proposed extension would allow for further
analysis of the Pilot Program and a determination of how the Pilot
Program should be structured in the future.
---------------------------------------------------------------------------
\4\ See Securities and Exchange Act Release No. 84871 (December
19, 2018) 83 FR 66789 (December 27, 2018) (SR-NYSE AMER-2018-57).
---------------------------------------------------------------------------
This filing does not propose any substantive changes to the Pilot
Program: All classes currently participating will remain the same and
all minimum increments will remain unchanged. The Exchange believes the
benefits to public customers and other market participants who will be
able to express their true prices to buy and sell options have been
demonstrated to outweigh the increase in quote traffic.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) \5\ of
Act, in general, and furthers the objectives of Section 6(b)(5),\6\ in
particular, in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, and to
remove impediments to and perfect the mechanisms of a free and open
market and a national market system.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
In particular, the proposed rule change, which extends the Penny
Pilot Program for six months, allows the Exchange to continue to
participate in a program that has been viewed as beneficial to traders,
investors and public customers and viewed as successful by the other
options exchanges participating in it. Accordingly, the Exchange
believes that the proposal is consistent with the Act
[[Page 27666]]
because it would allow the Exchange to extend the Pilot Program prior
to its expiration on June 30, 2019. The Exchange notes that this
proposal does not propose any new policies or provisions that are
unique or unproven, but instead relates to the continuation of an
existing program that operates on a pilot basis.
The Exchange believes that the Pilot Program promotes just and
equitable principles of trade by enabling public customers and other
market participants to express their true prices to buy and sell
options to the benefit of all market participants.
The proposal to extend the Pilot Program is designed to promote
just and equitable principles of trade, to foster cooperation and
coordination with persons engaged in facilitating transactions in
securities, and to remove impediments to and perfect the mechanisms of
a free and open market and a national market system, by allowing the
Exchange and the Commission additional time to analyze the impact of
the Pilot Program while also allowing the Exchange to continue to
compete for order flow with other exchanges in option issues trading as
part of the Pilot Program.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. Specifically, the Exchange
believes that, by extending the expiration of the Pilot Program, the
proposed rule change will allow for further analysis of the Pilot
Program and a determination of how this Program should be structured in
the future. In doing so, the proposed rule change will also serve to
promote regulatory clarity and consistency, thereby reducing burdens on
the marketplace and facilitating investor protection. The Pilot Program
is an industry-wide initiative supported by all other option exchanges.
The Exchange believes that extending the Pilot Program will allow for
continued competition between Exchange market participants trading
similar products as their counterparts on other exchanges, while at the
same time allowing the Exchange to continue to compete for order flow
with other exchanges in option issues trading as part of the Pilot
Program.
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 Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \7\ and Rule 19b-4(f)(6) thereunder.\8\
Because the proposed rule change does not: (i) Significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.\9\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A)(iii).
\8\ 17 CFR 240.19b-4(f)(6).
\9\ 17 CFR 240.19b-4(f)(6)(iii). Rule 19b-4(f)(6)(iii) requires
a self-regulatory organization to give the Commission written notice
of its intent to file the proposed rule change at least five
business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission. The
Commission notes that the Exchange satisfied this requirement.
---------------------------------------------------------------------------
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.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------
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-NYSEAMER-2019-22 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-NYSEAMER-2019-22. 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-NYSEAMER-2019-22 and should be submitted
on or before July 5, 2019.
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-12446 Filed 6-12-19; 8:45 am]
BILLING CODE 8011-01-P
