Classification Changes-First-Class Package International Service: Postal ServiceTM, 28398-28399 [2021-11104]
Download as PDF
<![CDATA[
28398
Federal Register / Vol. 86, No. 100 / Wednesday, May 26, 2021 / Notices
Office of Personnel Management.
Alexys Stanley,
Regulatory Affairs Analyst.
reprinted below in accordance with 39
U.S.C. 3632(b)(2).
Joshua J. Hofer,
Attorney, Ethics & Legal Compliance.
[FR Doc. 2021–11154 Filed 5–25–21; 8:45 am]
BILLING CODE 6325–38–P
POSTAL SERVICE
Classification Changes—First-Class
Package International Service: Postal
ServiceTM
Notice of classification changes
to First-Class Package International
Service.
ACTION:
This notice set forth changes
for the classification description of
Outbound Single-Piece First-Class
Package International Service.
SUMMARY:
DATES:
Date of notice: May 26, 2021.
FOR FURTHER INFORMATION CONTACT:
Christopher C. Meyerson, (202) 268–
7820.
On May 6,
2021, pursuant to their authority under
39 U.S.C. 3632, the Governors of the
United States Postal Service®
established classification changes for a
competitive product, namely, Outbound
Single-Piece First-Class Package
International Service. The Governors’
Decision and the record of proceedings
in connection with such decision are
SUPPLEMENTARY INFORMATION:
Decision of the Governors of the United
States Postal Service on Mail
Classification Schedule Changes
Related to the Outbound Commercial
Provider Initiative (OCPI) (Governors’
Decision No. 21–4)
May 6, 2021
Statement of Explanation and
Justification
Pursuant to our authority under
section 404(b) and Chapter 36 of title 39,
United States Code, the Governors
establish classification changes related
to the Outbound Commercial Provider
Initiative (OCPI).
The OCPI would allow the Postal
Service to offer outbound international
service for package shipments through
the use of a supplier in lieu of the
destination country postal operator.
OCPI is designed to help the Postal
Service remain competitive in the crossborder shipping market, by providing
the ability for delivery in the destination
country of certain outbound
international products by a third-party
supplier, instead of the designated
foreign postal operator of the
destination country. This provides the
Postal Service the option of selecting
providers that may be able to offer either
superior service or better destination
delivery prices, or both.
In order to implement the OCPI,
revisions to the Mail Classification
Schedule (MCS) should be made. These
changes to the MCS would not mandate
the use of the OCPI, but rather maintain
flexibility to allow its use in particular
outbound international traffic lanes.
We have evaluated the classification
changes related to the OCPI for the
Outbound Single-Piece First-Class
Package International Service product in
this context in accordance with Title 39
of the United States Code. We approve
the changes, finding that they are
appropriate, and are consistent with the
applicable criteria.
Order
We direct management to provide the
required public notice, and to file with
the Postal Regulatory Commission the
required documents and supporting
documents consistent with this
Decision. The changes in classification
to the Mail Classification Schedule set
forth herein are intended to be effective
thirty days after the material MCS
changes are filed with the Postal
Regulatory Commission, or as soon as
practicable thereafter.
By The Governors:
/s/
lllllllllllllllllllll
Ron A. Bloom,
Chairman, Board of Governors.
2335
Outbound Single-Piece First-Class Package International Service
2335.1
Description
a. Outbound Single-Piece First-Class Package International Service consists of
outbound international letter post packages and rolls (destined for delivery
outside of the United States) that are subject to the prm•isions of the
Uni¥ersal Postal Con¥ention of the Uni¥ersal Postal Union and that are not
entered as Priority Mail International.
*****
c.
Outbound Single-Piece First-Class Package International Service pieces that
are undeliverable-as-addressed are entitled to may be forwarded if applicable
or returned to the sender.
VerDate Sep<11>2014
20:00 May 25, 2021
Jkt 253001
PO 00000
Frm 00070
Fmt 4703
Sfmt 4725
E:\FR\FM\26MYN1.SGM
26MYN1
EN26MY21.001</GPH>
*****
Federal Register / Vol. 86, No. 100 / Wednesday, May 26, 2021 / Notices
United States Postal Service
Office of the Board of Governors
Certification of Governors’ Vote on
Governors’ Decision No. 21–4
Consistent with 39 U.S.C. 3632(a), I
hereby certify that, on May 6, 2021, the
Governors voted on adopting Governors’
Decision No. 21–4, and that a majority
of the Governors then holding office
voted in favor of that Decision.
effective May 17, 2021.4 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
Date: May 6, 2021
self-regulatory organization included
statements concerning the purpose of,
/s/
and basis for, the proposed rule change
lllllllllllllllllllll
and discussed any comments it received
Michael J. Elston,
on the proposed rule change. The text
Secretary of the Board of Governors.
of those statements may be examined at
[FR Doc. 2021–11104 Filed 5–25–21; 8:45 am]
the places specified in Item IV below.
BILLING CODE 7710–12–P
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
of the most significant parts of such
SECURITIES AND EXCHANGE
statements.
COMMISSION
A. Self-Regulatory Organization’s
[Release No. 34–91948; File No. SR–NYSE–
Statement of the Purpose of, and the
2021–33]
Statutory Basis for, the Proposed Rule
Change
Self-Regulatory Organizations; New
1. Purpose
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
The Exchange proposes to amend its
Proposed Rule Change Amending Its
Price List to (1) introduce a new fee for
Price List
orders designated with a Retail Modifier
at the open and the close; (2) revise
May 20, 2021.
certain requirements for executions at
1
Pursuant to Section 19(b)(1) of the
the open and the close; (3) introduce an
Securities Exchange Act of 1934
additional credit under the Step Up Tier
2
3
(‘‘Act’’) and Rule 19b–4 thereunder,
2 Adding Credit; and (4) revise certain
notice is hereby given that, on May 17,
requirements for RPI orders in the Retail
2021, New York Stock Exchange LLC
Liquidity Program.
(‘‘NYSE’’ or ‘‘Exchange’’) filed with the
The proposed changes respond to the
Securities and Exchange Commission
current competitive environment where
(‘‘Commission’’) the proposed rule
order flow providers have a choice of
change as described in Items I, II, and
where to direct liquidity-providing
III below, which Items have been
orders by offering further incentives for
prepared by the self-regulatory
member organizations to send
organization. The Commission is
additional liquidity to the Exchange,
publishing this notice to solicit
including retail order flow.
comments on the proposed rule change
The Exchange proposes to implement
from interested persons.
the fee changes effective May 17, 2021.
I. Self-Regulatory Organization’s
Background
Statement of the Terms of Substance of
Current Market and Competitive
the Proposed Rule Change
Environment
The Exchange proposes to amend its
The Exchange operates in a highly
Price List to (1) introduce a new fee for
competitive market. The Commission
orders designated with a Retail Modifier
has repeatedly expressed its preference
at the open and the close; (2) revise
for competition over regulatory
certain requirements for executions at
intervention in determining prices,
the open and the close; (3) introduce an
products, and services in the securities
additional credit under the Step Up Tier
markets. In Regulation NMS, the
2 Adding Credit; and (4) revise certain
Commission highlighted the importance
requirements for Retail Price
of market forces in determining prices
Improvement (‘‘RPI’’) orders in the
and SRO revenues and, also, recognized
Retail Liquidity Program. The Exchange
that current regulation of the market
proposes to implement the fee changes
4 The Exchange originally filed to amend the
Price List on May 3, 2021 (SR–NYSE–2021–30). SR–
NYSE–2021–30 was subsequently withdrawn and
replaced by this filing.
1 15
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
VerDate Sep<11>2014
20:00 May 25, 2021
Jkt 253001
PO 00000
Frm 00071
Fmt 4703
Sfmt 4703
28399
system ‘‘has been remarkably successful
in promoting market competition in its
broader forms that are most important to
investors and listed companies.’’ 5
While Regulation NMS has enhanced
competition, it has also fostered a
‘‘fragmented’’ market structure where
trading in a single stock can occur
across multiple trading centers. When
multiple trading centers compete for
order flow in the same stock, the
Commission has recognized that ‘‘such
competition can lead to the
fragmentation of order flow in that
stock.’’ 6 Indeed, equity trading is
currently dispersed across 16
exchanges,7 31 alternative trading
systems,8 and numerous broker-dealer
internalizers and wholesalers, all
competing for order flow. Based on
publicly available information, no single
exchange has more than 20% market
share.9 Therefore, no exchange
possesses significant pricing power in
the execution of equity order flow. More
specifically, the Exchange’s market
share of trading in Tape A, B and C
securities combined is less than 12%.
The Exchange believes that the evershifting market share among the
exchanges from month to month
demonstrates that market participants
can move order flow, or discontinue or
reduce use of certain categories of
products, in response to fee changes.
With respect to non-marketable order
flow that would provide displayed
liquidity on an Exchange, member
organizations can choose from any one
of the numerous currently operating
registered exchanges to route such order
flow. Accordingly, competitive forces
constrain exchange transaction fees that
relate to orders that would provide
liquidity on an exchange.
In response to this competitive
environment, the Exchange has
established incentives for its member
organizations who submit orders that
provide liquidity on the Exchange. The
proposed fee change is designed to
5 See Securities Exchange Act Release No. 51808
(June 9, 2005), 70 FR 37495, 37499 (June 29, 2005)
(S7–10–04) (Final Rule) (‘‘Regulation NMS’’).
6 See Securities Exchange Act Release No. 61358,
75 FR 3594, 3597 (January 21, 2010) (File No. S7–
02–10) (Concept Release on Equity Market
Structure).
7 See Cboe Global Markets, U.S. Equities Market
Volume Summary, available at https://
markets.cboe.com/us/equities/market_share/. See
generally https://www.sec.gov/fast-answers/
divisionsmarketregmrexchangesshtml.html.
8 See FINRA ATS Transparency Data, available at
https://otctransparency.finra.org/otctransparency/
AtsIssueData. A list of alternative trading systems
registered with the Commission is available at
https://www.sec.gov/foia/docs/atslist.htm.
9 See Cboe Global Markets U.S. Equities Market
Volume Summary, available at https://
markets.cboe.com/us/equities/market_share/.
E:\FR\FM\26MYN1.SGM
26MYN1
]]>Agencies
[Federal Register Volume 86, Number 100 (Wednesday, May 26, 2021)]
[Notices]
[Pages 28398-28399]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-11104]
=======================================================================
-----------------------------------------------------------------------
POSTAL SERVICE
Classification Changes--First-Class Package International
Service: Postal ServiceTM
ACTION: Notice of classification changes to First-Class Package
International Service.
-----------------------------------------------------------------------
SUMMARY: This notice set forth changes for the classification
description of Outbound Single-Piece First-Class Package International
Service.
DATES: Date of notice: May 26, 2021.
FOR FURTHER INFORMATION CONTACT: Christopher C. Meyerson, (202) 268-
7820.
SUPPLEMENTARY INFORMATION: On May 6, 2021, pursuant to their authority
under 39 U.S.C. 3632, the Governors of the United States Postal
Service[supreg] established classification changes for a competitive
product, namely, Outbound Single-Piece First-Class Package
International Service. The Governors' Decision and the record of
proceedings in connection with such decision are reprinted below in
accordance with 39 U.S.C. 3632(b)(2).
Joshua J. Hofer,
Attorney, Ethics & Legal Compliance.
Decision of the Governors of the United States Postal Service on Mail
Classification Schedule Changes Related to the Outbound Commercial
Provider Initiative (OCPI) (Governors' Decision No. 21-4)
May 6, 2021
Statement of Explanation and Justification
Pursuant to our authority under section 404(b) and Chapter 36 of
title 39, United States Code, the Governors establish classification
changes related to the Outbound Commercial Provider Initiative (OCPI).
The OCPI would allow the Postal Service to offer outbound
international service for package shipments through the use of a
supplier in lieu of the destination country postal operator. OCPI is
designed to help the Postal Service remain competitive in the cross-
border shipping market, by providing the ability for delivery in the
destination country of certain outbound international products by a
third-party supplier, instead of the designated foreign postal operator
of the destination country. This provides the Postal Service the option
of selecting providers that may be able to offer either superior
service or better destination delivery prices, or both.
In order to implement the OCPI, revisions to the Mail
Classification Schedule (MCS) should be made. These changes to the MCS
would not mandate the use of the OCPI, but rather maintain flexibility
to allow its use in particular outbound international traffic lanes.
We have evaluated the classification changes related to the OCPI
for the Outbound Single-Piece First-Class Package International Service
product in this context in accordance with Title 39 of the United
States Code. We approve the changes, finding that they are appropriate,
and are consistent with the applicable criteria.
Order
We direct management to provide the required public notice, and to
file with the Postal Regulatory Commission the required documents and
supporting documents consistent with this Decision. The changes in
classification to the Mail Classification Schedule set forth herein are
intended to be effective thirty days after the material MCS changes are
filed with the Postal Regulatory Commission, or as soon as practicable
thereafter.
By The Governors:
/s/
-----------------------------------------------------------------------
Ron A. Bloom,
Chairman, Board of Governors.
[GRAPHIC] [TIFF OMITTED] TN26MY21.001
[[Page 28399]]
United States Postal Service
Office of the Board of Governors
Certification of Governors' Vote on Governors' Decision No. 21-4
Consistent with 39 U.S.C. 3632(a), I hereby certify that, on May 6,
2021, the Governors voted on adopting Governors' Decision No. 21-4, and
that a majority of the Governors then holding office voted in favor of
that Decision.
Date: May 6, 2021
/s/
-----------------------------------------------------------------------
Michael J. Elston,
Secretary of the Board of Governors.
[FR Doc. 2021-11104 Filed 5-25-21; 8:45 am]
BILLING CODE 7710-12-P
