Product Change-Priority Mail Express, Priority Mail, First-Class Package Service, and Parcel Select Service Negotiated Service Agreement, 78717 [2022-27756]

Download as PDF Federal Register / Vol. 87, No. 245 / Thursday, December 22, 2022 / Notices www.prc.gov, Docket Nos. MC2023–93, CP2023–94. Sarah Sullivan, Attorney, Ethics & Legal Compliance. [FR Doc. 2022–27769 Filed 12–21–22; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Product Change—Priority Mail Express, Priority Mail, First-Class Package Service, and Parcel Select Service Negotiated Service Agreement Postal ServiceTM. ACTION: Notice. AGENCY: 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: December 22, 2022. FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202–268–8405. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on December 12, 2022, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Express, Priority Mail, First-Class Package Service, and Parcel Select Service Contract 101 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2023–83, CP2023–84. SUMMARY: Sarah Sullivan, Attorney, Ethics & Legal Compliance. 9, 2022, Nasdaq GEMX, LLC (‘‘GEMX’’ 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. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Options 3, Section 12, Crossing Orders and Options 3, Section 13, Price Improvement Mechanism for Crossing Transactions. The text of the proposed rule change is available on the Exchange’s website at https://listingcenter.nasdaq.com/ rulebook/gemx/rules, 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. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change [FR Doc. 2022–27756 Filed 12–21–22; 8:45 am] BILLING CODE 7710–12–P 1. Purpose SECURITIES AND EXCHANGE COMMISSION [Release No. 34–96519; File No. SR–GEMX– 2022–13] lotter on DSK11XQN23PROD with NOTICES1 Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Certain Functionality in Connection With a Technology Migration December 16, 2022. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on December 3 See Securities Exchange Act Release No. 95854 (September 21, 2022), 87 FR 58571 (September 27, 2022) (Order Approving SR–MRX–2022–10). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. VerDate Sep<11>2014 18:01 Dec 21, 2022 In connection with a technology migration to an enhanced Nasdaq, Inc. (‘‘Nasdaq’’) functionality which will result in higher performance, scalability, and more robust architecture, the Exchange intends to adopt certain trading functionality currently utilized at Nasdaq affiliate exchanges. Specifically, the Exchange proposes to amend Options 3, Section 12, Crossing Orders and Options 3, Section 13, Price Improvement Mechanism for Crossing Transactions. The changes proposed herein are identical to changes that were recently proposed for MRX.3 Each change will be described below. Jkt 259001 PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 78717 Changes to the Price Improvement Mechanism for Crossing Transactions The Price Improvement Mechanism (‘‘PIM’’) is a process by which an Electronic Access Member can provide price improvement opportunities for a transaction wherein the Electronic Access Member seeks to facilitate an order it represents as agent, and/or a transaction wherein the Electronic Access Member solicited interest to execute against an order it represents as agent (a ‘‘Crossing Transaction’’). The Exchange proposes to amend PIM in Options 3, Section 13(d)(4) which currently provides, When a market order or marketable limit order on the opposite side of the market from the Agency Order ends the exposure period, it will participate in the execution of the Agency Order at the price that is mid-way between the best counter-side interest and the NBBO, so that both the market or marketable limit order and the Agency Order receive price improvement. Transactions will be rounded, when necessary, to the $.01 increment that favors the Agency Order. Today, unrelated interest in the form of a market order or marketable limit order, on the opposite side of the market from an Agency Order,4 may end an exposure period 5 within a PIM and participate in the execution of the Agency Order. The unrelated order would participate at the price that is mid-way between the best counter-side interest and the NBBO, so that both the market order or marketable limit order 4 An Agency Order is the part of a Crossing Transaction that an Electronic Access Member represents as agent. See GEMX Options 3, Section 13(b). 5 Upon entry of a Crossing Transaction into the Price Improvement Mechanism, a broadcast message that includes the series, price and size of the Agency Order, and whether it is to buy or sell, will be sent to all Members. The Exchange designates a time of no less than 100 milliseconds and no more than 1 second for Members to indicate the size and price at which they want to participate in the execution of the Agency Order (‘‘Improvement Orders’’). Improvement Orders may be entered by all Members in one-cent increments at the same price as the Crossing Transaction or at an improved price for the Agency Order, and will only be considered up to the size of the Agency Order. During the exposure period, Improvement Orders may not be canceled, but may be modified to (i) increase the size at the same price, or (ii) improve the price of the Improvement Order for any size up to the size of the Agency Order. During the exposure period, responses (including the CounterSide Order, Improvement Orders, and any changes to either) submitted by Members shall not be visible to other auction participants. The exposure period will automatically terminate (i) at the end of the time period designated by the Exchange pursuant to Options 3, Section 13(c)(1) above, (ii) upon the receipt of a market or marketable limit order on the Exchange in the same series, or (iii) upon the receipt of a non-marketable limit order in the same series on the same side of the market as the Agency Order that would cause the price of the Crossing Transaction to be outside of the best bid or offer on the Exchange. See GEMX Options 3, Section 13(c). E:\FR\FM\22DEN1.SGM 22DEN1

Agencies

[Federal Register Volume 87, Number 245 (Thursday, December 22, 2022)]
[Notices]
[Page 78717]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-27756]


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POSTAL SERVICE


Product Change--Priority Mail Express, Priority Mail, First-Class 
Package Service, and Parcel Select Service 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: December 22, 2022.

FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202-268-8405.

SUPPLEMENTARY INFORMATION: The United States Postal Service[supreg] 
hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on 
December 12, 2022, it filed with the Postal Regulatory Commission a 
USPS Request to Add Priority Mail Express, Priority Mail, First-Class 
Package Service, and Parcel Select Service Contract 101 to Competitive 
Product List. Documents are available at www.prc.gov, Docket Nos. 
MC2023-83, CP2023-84.

Sarah Sullivan,
Attorney, Ethics & Legal Compliance.
[FR Doc. 2022-27756 Filed 12-21-22; 8:45 am]
BILLING CODE 7710-12-P
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