82_FR_57860 82 FR 57627 - Self-Regulatory Organizations; Nasdaq BX, Inc.; Order Granting an Extension to Limited Exemption From Rule 612(c) of Regulation NMS in Connection With the Exchange's Retail Price Improvement Program Until June 30, 2018

82 FR 57627 - Self-Regulatory Organizations; Nasdaq BX, Inc.; Order Granting an Extension to Limited Exemption From Rule 612(c) of Regulation NMS in Connection With the Exchange's Retail Price Improvement Program Until June 30, 2018

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 233 (December 6, 2017)

Page Range57627-57627
FR Document2017-26285

Federal Register, Volume 82 Issue 233 (Wednesday, December 6, 2017) 
[Federal Register Volume 82, Number 233 (Wednesday, December 6, 2017)]
[Notices]
[Page 57627]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-26285]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82198; File No. SR-BX-2014-048]


Self-Regulatory Organizations; Nasdaq BX, Inc.; Order Granting an 
Extension to Limited Exemption From Rule 612(c) of Regulation NMS in 
Connection With the Exchange's Retail Price Improvement Program Until 
June 30, 2018

December 1, 2017.
    On November 28, 2014, the Commission issued an order pursuant to 
its authority under Rule 612(c) of Regulation NMS \1\ (``Sub-Penny 
Rule'') that granted Nasdaq BX, Inc. (``BX'' or ``Exchange'') a limited 
exemption from the Sub-Penny Rule in connection with the operation of 
the Exchange's Retail Price Improvement Program (``RPI Program'').\2\ 
The limited exemption was granted concurrently with the Commission's 
approval of the Exchange's proposal to adopt the RPI Program on a one-
year pilot term.\3\ On November 20, 2015, the Commission extended the 
temporary exemption until December 2016 concurrently with an 
immediately effective filing that extended the operation of the RPI 
Program until December 1, 2016.\4\ On December 1, 2016, the Commission 
extended the temporary exemption until December 1, 2017 concurrently 
with an immediately effective filing that extended the operation of the 
RPI Program until December 1, 2017.\5\
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    \1\ 17 CFR 242.612(c).
    \2\ See Securities Exchange Act Release No. 73702, 79 FR 72049 
(December 4, 2014) (SR-BX-2014-048) (``RPI Approval Order'').
    \3\ See id.
    \4\ See Securities Exchange Act Release No. 76490 (November 20, 
2015), 80 FR 74165 (November 27, 2015) (SR-BX-2015-073).
    \5\ See Securities Exchange Act Release No. 79446 (December 1, 
2016), 81 FR 88290 (December 7, 2016) (SR-BX-2016-065).
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    The Exchange now seeks to extend the exemption until June 30, 
2018.\6\ The Exchange's request was made in conjunction with an 
immediately effectively filing that extends the operation of the RPI 
Program until June 30, 2018.\7\ In its request to extend the exemption, 
the Exchange notes that given the gradual implementation of the RPI 
Program and the preliminary participation and results, extending the 
exemption would provide additional opportunities for greater 
participation and assessment of the results.\8\ Accordingly, the 
Exchange has asked additional time to allow it and the Commission to 
analyze data concerning the RPI Program, which the Exchange committed 
to provide to the Commission.\9\ For this reason and the reasons stated 
in the RPI Approval Order originally granting the limited exemption, 
the Commission, pursuant to its authority under Rule 612(c) of 
Regulation NMS, finds that pursuant to its authority under Rule 612(c) 
of Regulation NMS, extending the exemption is appropriate in the public 
interest and consistent with the protection of investors.
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    \6\ See SR-BX-2017-055; see also Letter from Jeffrey Davis, Vice 
President and Deputy General Counsel and Secretary, Nasdaq BX, Inc. 
to Eduardo A. Aleman, Assistant Secretary, Commission, dated 
November 28, 2017 (``BX Letter'').
    \7\ See SR-BX-2017-055.
    \8\ See, e.g., BX Letter at 3; RPI Approval Order, supra note 2.
    \9\ See, e.g., id.; RPI Approval Order, supra note 2.
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    Therefore, it is hereby ordered that, pursuant to Rule 612(c) of 
Regulation NMS, the Exchange is granted an extension of the limited 
exemption from Rule 612 of Regulation NMS that allows the Exchange to 
accept and rank orders priced equal to or greater than $1.00 per share 
in increments of $0.001, in connection with the operation of its RPI 
Program, until June 30, 2018.
    The limited and temporary exemption extended by this Order is 
subject to modification or revocation if at any time the Commission 
determines that such action is necessary or appropriate in furtherance 
of the purposes of the Securities Exchange Act of 1934. Responsibility 
for compliance with any applicable provisions of the Federal securities 
laws must rest with the persons relying on the exemption that are the 
subject of this Order.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
Eduardo A. Aleman,
Assistant Secretary.
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    \10\ 17 CFR 200.30-3(a)(83).
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[FR Doc. 2017-26285 Filed 12-5-17; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 82, No. 233 / Wednesday, December 6, 2017 / Notices 57627 ACTION: Notice. SECURITIES AND EXCHANGE and assessment of the results.8 COMMISSION Accordingly, the Exchange has asked SUMMARY: The Postal Service gives additional time to allow it and the [Release No. 34–82198; File No. SR–BX– notice of filing a request with the Postal Commission to analyze data concerning 2014–048] Regulatory Commission to add a the RPI Program, which the Exchange domestic shipping services contract to Self-Regulatory Organizations; Nasdaq committed to provide to the the list of Negotiated Service BX, Inc.; Order Granting an Extension Commission.9 For this reason and the Agreements in the Mail Classification to Limited Exemption From Rule 612(c) reasons stated in the RPI Approval Schedule’s Competitive Products List. of Regulation NMS in Connection With Order originally granting the limited the Exchange’s Retail Price exemption, the Commission, pursuant DATES: Date of notice required under 39 to its authority under Rule 612(c) of U.S.C. 3642(d)(1): December 6, 2017. Improvement Program Until June 30, 2018 Regulation NMS, finds that pursuant to FOR FURTHER INFORMATION CONTACT: its authority under Rule 612(c) of Elizabeth A. Reed, 202–268–3179. December 1, 2017. Regulation NMS, extending the On November 28, 2014, the exemption is appropriate in the public SUPPLEMENTARY INFORMATION: The Commission issued an order pursuant to interest and consistent with the United States Postal Service® hereby its authority under Rule 612(c) of protection of investors. gives notice that, pursuant to 39 U.S.C. Regulation NMS 1 (‘‘Sub-Penny Rule’’) Therefore, it is hereby ordered that, 3642 and 3632(b)(3), on November 30, that granted Nasdaq BX, Inc. (‘‘BX’’ or pursuant to Rule 612(c) of Regulation 2017, it filed with the Postal Regulatory ‘‘Exchange’’) a limited exemption from NMS, the Exchange is granted an Commission a USPS Request to Add the Sub-Penny Rule in connection with extension of the limited exemption from Priority Mail Express, Priority Mail, & the operation of the Exchange’s Retail Rule 612 of Regulation NMS that allows First-Class Package Service Contract 29 Price Improvement Program (‘‘RPI the Exchange to accept and rank orders to Competitive Product List. Documents Program’’).2 The limited exemption was priced equal to or greater than $1.00 per are available at www.prc.gov, Docket granted concurrently with the share in increments of $0.001, in Nos. MC2018–39, CP2018–69. Commission’s approval of the connection with the operation of its RPI Elizabeth A. Reed, Exchange’s proposal to adopt the RPI Program, until June 30, 2018. Program on a one-year pilot term.3 On The limited and temporary exemption Attorney, Corporate and Postal Business Law. November 20, 2015, the Commission extended by this Order is subject to [FR Doc. 2017–26213 Filed 12–5–17; 8:45 am] modification or revocation if at any time extended the temporary exemption until BILLING CODE 7710–12–P December 2016 concurrently with an the Commission determines that such immediately effective filing that action is necessary or appropriate in extended the operation of the RPI furtherance of the purposes of the POSTAL SERVICE Securities Exchange Act of 1934. Program until December 1, 2016.4 On December 1, 2016, the Commission Responsibility for compliance with any Product Change—Priority Mail extended the temporary exemption until applicable provisions of the Federal Negotiated Service Agreement December 1, 2017 concurrently with an securities laws must rest with the AGENCY: Postal ServiceTM. immediately effective filing that persons relying on the exemption that extended the operation of the RPI are the subject of this Order. ACTION: Notice. Program until December 1, 2017.5 For the Commission, by the Division of The Exchange now seeks to extend Trading and Markets, pursuant to delegated SUMMARY: The Postal Service gives the exemption until June 30, 2018.6 The authority.10 notice of filing a request with the Postal Exchange’s request was made in Eduardo A. Aleman, Regulatory Commission to add a conjunction with an immediately Assistant Secretary. domestic shipping services contract to effectively filing that extends the [FR Doc. 2017–26285 Filed 12–5–17; 8:45 am] the list of Negotiated Service operation of the RPI Program until June BILLING CODE 8011–01–P Agreements in the Mail Classification 30, 2018.7 In its request to extend the Schedule’s Competitive Products List. exemption, the Exchange notes that DATES: Date of notice required under 39 given the gradual implementation of the SECURITIES AND EXCHANGE U.S.C. 3642(d)(1): December 6, 2017. RPI Program and the preliminary COMMISSION participation and results, extending the FOR FURTHER INFORMATION CONTACT: [Release No. 34–82182; File No. SR–NYSE– exemption would provide additional 2017–60] Elizabeth A. Reed, 202–268–3179. opportunities for greater participation SUPPLEMENTARY INFORMATION: The Self-Regulatory Organizations; New 1 17 CFR 242.612(c). United States Postal Service® hereby York Stock Exchange LLC; Notice of 2 See Securities Exchange Act Release No. 73702, gives notice that, pursuant to 39 U.S.C. 79 FR 72049 (December 4, 2014) (SR–BX–2014–048) Filing and Immediate Effectiveness of 3642 and 3632(b)(3), on November 30, (‘‘RPI Approval Order’’). Proposed Rule Change To Amend the 2017, it filed with the Postal Regulatory 3 See id. Fees for NYSE BBO and NYSE Trades Commission a USPS Request to Add 4 See Securities Exchange Act Release No. 76490 To Lower the Enterprise Fee, and for (November 20, 2015), 80 FR 74165 (November 27, NYSE BQT To Lower the Access Fee Priority Mail Contract 380 to 2015) (SR–BX–2015–073). Competitive Product List. Documents daltland on DSKBBV9HB2PROD with NOTICES 5 See Securities Exchange Act Release No. 79446 November 30, 2017. are available at www.prc.gov, Docket (December 1, 2016), 81 FR 88290 (December 7, Pursuant to Section 19(b)(1) of the Nos. MC2018–38, CP2018–68. 2016) (SR–BX–2016–065). Securities Exchange Act of 1934 (the 6 See SR–BX–2017–055; see also Letter from Elizabeth A. Reed, Jeffrey Davis, Vice President and Deputy General 8 See, e.g., BX Letter at 3; RPI Approval Order, Attorney, Corporate and Postal Business Law. Counsel and Secretary, Nasdaq BX, Inc. to Eduardo A. Aleman, Assistant Secretary, Commission, dated supra note 2. [FR Doc. 2017–26212 Filed 12–5–17; 8:45 am] November 28, 2017 (‘‘BX Letter’’). 9 See, e.g., id.; RPI Approval Order, supra note 2. BILLING CODE 7710–12–P 7 See SR–BX–2017–055. 10 17 CFR 200.30–3(a)(83). VerDate Sep<11>2014 18:07 Dec 05, 2017 Jkt 244001 PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 E:\FR\FM\06DEN1.SGM 06DEN1


Document Created: 2017-12-06 00:22:04
Document Modified: 2017-12-06 00:22:04
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation82 FR 57627 
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