Product Change-Priority Mail Negotiated Service Agreement, 29551 [2019-13327]
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Federal Register / Vol. 84, No. 121 / Monday, June 24, 2019 / Notices
3642 and 3632(b)(3), on June 18, 2019,
it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Express & Priority Mail
Contract 94 to Competitive Product List.
Documents are available at
www.prc.gov, Docket Nos. MC2019–154,
CP2019–172.
Elizabeth Reed,
Attorney, Corporate and Postal Business Law.
[FR Doc. 2019–13328 Filed 6–21–19; 8:45 am]
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
BILLING CODE 7710–12–P
POSTAL SERVICE
Product Change—Priority Mail
Negotiated Service Agreement
Postal ServiceTM.
Notice.
AGENCY:
ACTION:
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: June 24,
2019.
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 June 18, 2019,
it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Contract 535 to
Competitive Product List. Documents
are available at www.prc.gov, Docket
Nos. MC2019–155, CP2019–173.
SUMMARY:
The Exchange proposes to make nonsubstantive, clarifying changes to
Options 7, as described further below.
The text of the proposed rule change
is available on the Exchange’s website at
https://nasdaqmrx.cchwallstreet.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
Exchange 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. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
Elizabeth Reed,
Attorney, Corporate and Postal Business Law.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
[FR Doc. 2019–13327 Filed 6–21–19; 8:45 am]
1. Purpose
BILLING CODE 7710–12–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–86132; File No. SR–MRX–
2019–11]
Self-Regulatory Organizations; Nasdaq
MRX, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Make NonSubstantive, Clarifying Changes to
Options 7
jbell on DSK3GLQ082PROD with NOTICES
notice is hereby given that on June 5,
2019, Nasdaq MRX, LLC (‘‘MRX’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III, below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
June 18, 2019.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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16:50 Jun 21, 2019
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The purpose of the proposed rule
change is to make non-substantive
clarifications to the Exchange’s Pricing
Schedule in Options 7 to avoid potential
confusion in the Exchange’s rules.
First, the Exchange proposes to
remove an obsolete reference to its old
website in its Options 7, Section 1. The
definition of ‘‘Penny Symbols’’
presently states that the current list of
Nasdaq MRX-listed Penny Pilot Program
symbols is available at https://
www.ise.com/assets/files/products/
productstraded/options_product_
equityDownload.csv. Now that the
legacy website is no longer available,
the Exchange proposes to delete this
sentence from the definition of Penny
Symbols.
Second, the Exchange proposes to add
references to average daily volume
PO 00000
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29551
(‘‘ADV’’) to certain pricing for Price
Improvement Mechanism (‘‘PIM’’)
orders set forth in Options 7, Section 3,
Table 2. Specifically, the Exchange
proposes to clarify that the current
volume threshold requirements for the
reduced contra-side Fee for Crossing
Orders 3 of $0.02 per contract in all
symbols and the rebate for originating
Priority Customer 4 PIM orders of $1.05
in Non-Penny Symbols are each ADV
calculations. Although the Exchange has
always calculated these volume
thresholds based on executed ADV of
PIM originating contracts, the Exchange
believes that explicitly adding the word
‘‘ADV’’ to this rule will avoid any
possible confusion among members.5
The Exchange also proposes to delete
the words ‘‘per day’’ in each place it
proposes to add ‘‘ADV’’ to avoid
redundancy.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,6 in general, and furthers the
objectives of Section 6(b)(5) of the Act,7
in particular, in that it is designed to
promote just and equitable principles of
trade, to remove impediments to and
perfect the mechanism of a free and
open market and a national market
system, and, in general to protect
investors and the public interest.
As discussed above, the Exchange
seeks to make non-substantive changes
to Options 7 by removing obsolete
references to its legacy website and
specifying that certain PIM pricing is
based on ADV calculations. The
Exchange believes that the proposed
changes herein will add further
clarification to its Pricing Schedule, and
will also alleviate potential confusion as
to the applicability of the Exchange’s
rules, all of which will protect investors
and the public interest. Furthermore, as
3 A ‘‘Crossing Order’’ is an order executed in the
Exchange’s Facilitation Mechanism, Solicited Order
Mechanism, PIM or submitted as a Qualified
Contingent Cross order. For purposes of this Pricing
Schedule, orders executed in the Block Order
Mechanism are also considered Crossing Orders.
4 A ‘‘Priority Customer’’ is a person or entity that
is not a broker/dealer in securities, and does not
place more than 390 orders in listed options per day
on average during a calendar month for its own
beneficial account(s), as defined in Nasdaq MRX
Rule 100(a)(37A).
5 In the filing to adopt the PIM pricing and related
volume thresholds, the Exchange stated that the
reduced PIM fee is calculated by averaging volume
across the month per business day. See Securities
Exchange Act Release No. 85313 (March 14, 2019),
84 FR 10357 (March 20, 2019) (SR–MRX–2019–05).
The Exchange notes that the higher PIM rebate,
which is based on the same volume threshold as
reduced the PIM fee, is calculated in the same
manner.
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(5).
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]]>Agencies
[Federal Register Volume 84, Number 121 (Monday, June 24, 2019)]
[Notices]
[Page 29551]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-13327]
-----------------------------------------------------------------------
POSTAL SERVICE
Product Change--Priority Mail Negotiated Service Agreement
AGENCY: Postal ServiceTM.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: 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: June 24, 2019.
FOR FURTHER INFORMATION CONTACT: Elizabeth Reed, 202-268-3179.
SUPPLEMENTARY INFORMATION: The United States Postal Service[supreg]
hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on
June 18, 2019, it filed with the Postal Regulatory Commission a USPS
Request to Add Priority Mail Contract 535 to Competitive Product List.
Documents are available at www.prc.gov, Docket Nos. MC2019-155, CP2019-
173.
Elizabeth Reed,
Attorney, Corporate and Postal Business Law.
[FR Doc. 2019-13327 Filed 6-21-19; 8:45 am]
BILLING CODE 7710-12-P
