First-Class Mail and USPS Marketing Mail Growth Incentive, 56890-56891 [2023-17865]
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56890
Federal Register / Vol. 88, No. 160 / Monday, August 21, 2023 / Notices
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services that might be added to and paid
for with these pieces), divided by the
total volume of qualifying pieces,’’
which is then multiplied by the total
volume of pieces eligible for credits and
30 percent. Id. at 4–5.
The Postal Service estimates the FirstClass Mail Growth Incentive ‘‘will spur
$259 to $432 million in growth revenue,
pay $78 to $130 million in credits, and
result in $91 to $152 million in net
contribution . . . .’’ Id. at 7. The Postal
Service estimates that the Marketing
Mail Growth Incentive will spur
between $544 and $907 million in
growth revenue, pay $163 to $272
million in credits, and result in a net
contribution of $17 to $28 million. Id.
at 6–7.
The Postal Service contends that the
two incentives are rates of general
applicability. Id. at 9. Under 39 CFR
3030.122(i), the Postal Service must
state whether it elects to generate
unused rate adjustment authority. 39
CFR 3030.122(i). The Postal Service
states that it does elect to have the two
incentives generate unused rate
adjustment authority, but that
‘‘sufficient billing determinants do not
yet exist for the incentives to be
included in any percentage calculation
for a change in rates.’’ Id. at 8. The
Postal Service states that the soonest it
would have sufficient billing
determinants to include the incentives
in a percentage calculation for a change
in rates and generate rate adjustment
authority would be an omnibus rate case
in 2025. Id. at 9.
The Postal Service contends that 39
CFR 3030.221, which requires the Postal
Service to raise rates for noncompensatory products in
compensatory classes by at least 2
percentage points above the average for
that class, does not apply in this
proceeding because the Postal Service
only seeks to lower prices. Id. at 12. The
Postal Service also contends that
applying 39 CFR 3030.221 to rate cases
in which the Postal Service seeks to
lower rates conflicts with 39 CFR
3030.122(i), which it asserts ‘‘expressly
contemplates and permits the Postal
Service to bring rate cases in which it
only lowers prices . . . .’’ Id. at 13.
III. Initial Administrative Actions
Pursuant to 39 CFR 3030.124(a), the
Commission establishes Docket No.
R2023–3 to consider the planned Market
Dominant price change creating two
incentives as well as the related
classification changes identified in the
Notice. The Commission invites
comments from interested persons on
whether the Postal Service’s planned
price adjustments are consistent with
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applicable statutory and regulatory
requirements. 39 CFR 3030.125. The
applicable statutory and regulatory
requirements the Commission considers
in its review are the requirements of 39
CFR part 3030, Commission directives
and orders, and 39 U.S.C. 3626, 3627,
and 3629. 39 CFR 3030.126(b).
Comments are due no later than
September 11, 2023. 39 CFR 3030.124(f).
The Postal Service’s filing is available
for review on the Commission’s website
(https://www.prc.gov). Comments and
other material filed in this proceeding
will be available for review on the
Commission’s website unless the
information contained therein is subject
to an application for non-public
treatment. The Commission’s rules on
non-public materials (including access
to documents filed under seal) appear in
39 CFR part 3011.
Pursuant to 39 U.S.C. 505, the
Commission appoints John Avila to
represent the interests of the general
public (Public Representative) in this
proceeding.
IV. Ordering Paragraphs
It is ordered:
1. The Commission establishes Docket
No. R2023–3 to consider the planned
Market Dominant price change creating
two incentives, as well as the related
classification changes, identified in the
Postal Service’s August 11, 2023 Notice.
2. Comments on the planned price
adjustments and related classification
changes are due no later than September
11, 2023.
3. Pursuant to 39 U.S.C. 505, John
Avila is appointed to serve as an officer
of the Commission to represent the
interests of the general public (Public
Representative) in this proceeding.
4. The Commission directs the
Secretary of the Commission to arrange
for prompt publication of this notice in
the Federal Register.
By the Commission.
Mallory Richards,
Attorney-Adviser.
[FR Doc. 2023–17874 Filed 8–18–23; 8:45 am]
BILLING CODE 7710–FW–P
POSTAL SERVICE
International Product Change—Priority
Mail Express International, Priority Mail
International & First-Class Package
International Service Agreement
Postal ServiceTM.
Notice.
AGENCY:
ACTION:
The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a Priority
SUMMARY:
PO 00000
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Mail Express International, Priority Mail
International & First-Class Package
International Service contract to the list
of Negotiated Service Agreements in the
Competitive Product List in the Mail
Classification Schedule.
DATES: Date of notice: August 21, 2023.
FOR FURTHER INFORMATION CONTACT:
Christopher C. Meyerson, (202) 268–
7820.
The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on August 11,
2023, it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Express International,
Priority Mail International & First-Class
Package International Service Contract
25 to Competitive Product List.
Documents are available at
www.prc.gov, Docket Nos. MC2023–221
and CP2023–225.
SUPPLEMENTARY INFORMATION:
Sarah Sullivan,
Attorney, Ethics and Legal Compliance.
[FR Doc. 2023–17863 Filed 8–18–23; 8:45 am]
BILLING CODE 7710–12–P
POSTAL SERVICE
First-Class Mail and USPS Marketing
Mail Growth Incentive
Postal ServiceTM.
Notice.
AGENCY:
ACTION:
The Postal Service is
providing notice that it has filed with
the Postal Regulatory Commission a
market dominant price change creating
two new incentives.
DATES: August 21, 2023.
FOR FURTHER INFORMATION CONTACT:
Steven Mills, Director Product
Management (Mailing Svcs.) at (202)
268–7433.
SUPPLEMENTARY INFORMATION: On August
11, 2023, the United States Postal
Service® filed with the Postal
Regulatory Commission a notice of
market dominant price change creating
two new incentives.
As indicated in the filing, the Postal
Service will offer two new incentives
designed to promote the growth of FirstClass Mail® (the ‘‘First-Class Mail
Growth Incentive’’) and USPS
Marketing Mail® (the ‘‘Marketing Mail
Growth Incentive’’). The effective dates
of both incentives is January 1, 2024,
and the incentive period runs through
December 31, 2024. Qualifying Market
Dominant products eligible for the
incentive are: First-Class Mail Presort
Letters, First-Class Mail Presort Cards,
First-Class Mail Presort Flats, USPS
SUMMARY:
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Federal Register / Vol. 88, No. 160 / Monday, August 21, 2023 / Notices
Marketing Mail Letters and High
Density/Saturation Letters, USPS
Marketing Mail Flats and High Density/
Saturation Flats, USPS Marketing Mail
Carrier Route Letters and Flats, and
USPS Marketing Mail and Saturation
Parcels.
Documents pertinent to this notice are
available at https://www.prc.gov under
docket number R2023–3 and on the
daily docket for August 11, 2023.
examination, litigation, or regulatory
matters.
CONTACT PERSON FOR MORE INFORMATION:
For further information; please contact
Vanessa A. Countryman from the Office
of the Secretary at (202) 551–5400.
Authority: 5 U.S.C. 552b.
Dated: August 17, 2023.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2023–18014 Filed 8–17–23; 11:15 am]
Sarah Sullivan,
Attorney, Ethics & Legal Compliance.
BILLING CODE 8011–01–P
[FR Doc. 2023–17865 Filed 8–18–23; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
BILLING CODE 7710–12–P
[Release No. 34–98137; File No. SR–
CboeEDGX–2023–051]
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meetings
2:00 p.m. on Thursday,
August 24, 2023.
PLACE: The meeting will be held via
remote means and/or at the
Commission’s headquarters, 100 F
Street NE, Washington, DC 20549.
STATUS: This meeting will be closed to
the public.
MATTERS TO BE CONSIDERED:
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the closed meeting. Certain
staff members who have an interest in
the matters also may be present.
In the event that the time, date, or
location of this meeting changes, an
announcement of the change, along with
the new time, date, and/or place of the
meeting will be posted on the
Commission’s website at https://
www.sec.gov.
The General Counsel of the
Commission, or her designee, has
certified that, in her opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B)
and (10) and 17 CFR 200.402(a)(3),
(a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and
(a)(10), permit consideration of the
scheduled matters at the closed meeting.
The subject matter of the closed
meeting will consist of the following
topics:
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings;
Resolution of litigation claims; and
Other matters relating to examinations
and enforcement proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting agenda items that
may consist of adjudicatory,
ddrumheller on DSK120RN23PROD with NOTICES1
TIME AND DATE:
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Self-Regulatory Organizations; Cboe
EDGX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Amend Its
Fee Schedule
August 15, 2023.
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 August 1,
2023, Cboe EDGX Exchange, Inc.
(‘‘Exchange’’ or ‘‘EDGX’’) filed with the
Securities and Exchange Commission
(‘‘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
Cboe EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) proposes to
amend its Fee Schedule. The text of the
proposed rule change is provided in
Exhibit 5.
The text of the proposed rule change
is also available on the Exchange’s
website (https://markets.cboe.com/us/
options/regulation/rule_filings/edgx/),
at the Exchange’s Office of the
Secretary, 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
1 15
2 17
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U.S.C. 78s(b)(1).
CFR 240.19b–4.
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56891
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
1. Purpose
The Exchange proposes to amend its
Fee Schedule applicable to its equities
trading platform (‘‘EDGX Equities’’) as
follows: (1) by modifying the criteria of
Add Volume Tier 6; and (4) modifying
the rates associated with Remove
Volume Tier 1. The Exchange proposes
to implement these changes effective
August 1, 2023.
The Exchange first notes that it
operates in a highly competitive market
in which market participants can
readily direct order flow to competing
venues if they deem fee levels at a
particular venue to be excessive or
incentives to be insufficient. More
specifically, the Exchange is only one of
16 registered equities exchanges, as well
as a number of alternative trading
systems and other off-exchange venues
that do not have similar self-regulatory
responsibilities under the Securities
Exchange Act of 1934 (the ‘‘Act’’), to
which market participants may direct
their order flow. Based on publicly
available information,3 no single
registered equities exchange has more
than 14% of the market share. Thus, in
such a low-concentrated and highly
competitive market, no single equities
exchange possesses significant pricing
power in the execution of order flow.
The Exchange in particular operates a
‘‘Maker-Taker’’ model whereby it pays
rebates to members that add liquidity
and assesses fees to those that remove
liquidity. The Exchange’s Fee Schedule
sets forth the standard rebates and rates
applied per share for orders that provide
and remove liquidity, respectively.
Currently, for orders in securities priced
at or above $1.00, the Exchange
provides a standard rebate of $0.00160
per share for orders that add liquidity
and assesses a fee of $0.0030 per share
for orders that remove liquidity.4 For
orders in securities priced below $1.00,
the Exchange provides a standard rebate
3 See Cboe Global Markets, U.S. Equities Market
Volume Summary, Month-to-Date (July 24, 2023),
available at https://www.cboe.com/us/equities/_
statistics/.
4 See EDGX Equities Fee Schedule, Standard
Rates.
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]]>Agencies
[Federal Register Volume 88, Number 160 (Monday, August 21, 2023)]
[Notices]
[Pages 56890-56891]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-17865]
-----------------------------------------------------------------------
POSTAL SERVICE
First-Class Mail and USPS Marketing Mail Growth Incentive
AGENCY: Postal ServiceTM.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Postal Service is providing notice that it has filed with
the Postal Regulatory Commission a market dominant price change
creating two new incentives.
DATES: August 21, 2023.
FOR FURTHER INFORMATION CONTACT: Steven Mills, Director Product
Management (Mailing Svcs.) at (202) 268-7433.
SUPPLEMENTARY INFORMATION: On August 11, 2023, the United States Postal
Service[supreg] filed with the Postal Regulatory Commission a notice of
market dominant price change creating two new incentives.
As indicated in the filing, the Postal Service will offer two new
incentives designed to promote the growth of First-Class Mail[supreg]
(the ``First-Class Mail Growth Incentive'') and USPS Marketing
Mail[supreg] (the ``Marketing Mail Growth Incentive''). The effective
dates of both incentives is January 1, 2024, and the incentive period
runs through December 31, 2024. Qualifying Market Dominant products
eligible for the incentive are: First-Class Mail Presort Letters,
First-Class Mail Presort Cards, First-Class Mail Presort Flats, USPS
[[Page 56891]]
Marketing Mail Letters and High Density/Saturation Letters, USPS
Marketing Mail Flats and High Density/Saturation Flats, USPS Marketing
Mail Carrier Route Letters and Flats, and USPS Marketing Mail and
Saturation Parcels.
Documents pertinent to this notice are available at https://www.prc.gov under docket number R2023-3 and on the daily docket for
August 11, 2023.
Sarah Sullivan,
Attorney, Ethics & Legal Compliance.
[FR Doc. 2023-17865 Filed 8-18-23; 8:45 am]
BILLING CODE 7710-12-P
