42196 Federal Register / Vol. 83, No. 161 / Monday, August 20, 2018 / Notices 

1 15 U.S.C.78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See New York Stock Exchange Price List 2018, 

available at https://www.nyse.com/publicdocs/nyse/ 

markets/nyse/NYSE_Price_List.pdf; NYSE Arca 

Equities Fees and Charges, available at https://

www.nyse.com/publicdocs/nyse/markets/nyse-arca/ 

NYSE_Arca_Marketplace_Fees.pdf; and the NYSE 

American Equities Price List, available at https://

www.nyse.com/publicdocs/nyse/markets/nyseamerican/NYSE_America_Equities_Price_List.pdf. 

5See note 4, supra. The Exchange proposes to 

omit a reference to Designated Market Makers or 

‘‘DMMs’’ found in price lists of the Exchange 

Affiliates because the Exchange does not currently 

have DMMs. 

6See, e.g., NASDAQ Stock Market Rule 7027, 

NASDAQ Options Market Rules at Chapter XV, and 

the NASDAQ PHLX LLC Pricing Schedule, 

available at http://nasdaqphlx.cchwallstreet.com/ 

NASDAQPHLXTools/PlatformViewer.asp?

selectednode=chp_1_5_2&manual=%2Fnasdaq

omxphlx%2Fphlx%2Fphlx-rulesbrd%2F. 

7See note 4, supra. 

8See note 4, supra; see also, e.g., NASDAQ Rule 

7027(c). 

9 15 U.S.C. 78f(b). 

10 15 U.S.C. 78f(b)(4) & (5). 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83843; File No. SR– 

NYSENAT–2018–18] 

Self-Regulatory Organizations; NYSE 

National, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Its Schedule of 

Fees and Rebates 

August 14, 2018. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on August 

1, 2018, NYSE National, Inc. 

(‘‘Exchange’’ or ‘‘NYSE National’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been prepared by the self-regulatory 

organization. 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 its 

Schedule of Fees and Rebates to specify 

that an ETP Holder may request that the 

Exchange aggregate its eligible activity 

with activity of its ETP Holder affiliates 

for purposes of charges or credits based 

on volume. 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 

self-regulatory organization 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 those 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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend its 

Schedule of Fees and Rebates to specify 

that an ETP Holder may request that the 

Exchange aggregate its eligible activity 

with activity of its ETP Holder affiliates 

for purposes of charges or credits based 

on volume. As noted below, the 

proposed provision is based on similar 

provisions in the price lists of the 

Exchange’s affiliates New York Stock 

Exchange LLC (‘‘NYSE’’), NYSE Arca, 

Inc. (‘‘NYSE Arca’’), and NYSE 

American Equities (‘‘NYSE American’’) 

(together, the ‘‘Exchange Affiliates’’).4

The Exchange proposes to amend its 

Schedule of Fees and Rebates to specify 

that an ETP Holder may request that the 

Exchange aggregate its eligible activity 

with eligible activity of its ETP Holder 

affiliates for purposes of charges or 

credits based on volume. The proposed 

rule change is based on the rules of the 

Exchange Affiliates, which contain 

substantially the same language.5 The 

Exchange notes that this type of 

provision is also common among many 

other exchanges.6

As proposed, for purposes of applying 

any provision of the Exchange’s 

Schedule of Fees and Rebates where the 

charge assessed, or credit provided, by 

the Exchange depends on the volume of 

an ETP Holder’s activity (i.e., where a 

volume threshold or volume percentage 

is required to obtain the pricing), an 

ETP Holder may request that the 

Exchange aggregate its eligible activity 

with eligible activity of its ETP Holder 

affiliates. The Exchange further 

proposes that an ETP Holder requesting 

aggregation of eligible affiliate activity 

would be required to (1) certify to the 

Exchange which affiliate(s) it seeks to 

aggregate prior to receiving approval for 

aggregation, and (2) inform the 

Exchange immediately of any event that 

causes an entity to cease being an 

affiliate(s). The Exchange would review 

available information regarding the 

entities and reserves the right to request 

additional information to verify the 

affiliate status of an entity. As further 

proposed, the Exchange would approve 

a request, unless it determines that the 

certificate is not accurate. 

The Exchange also proposes that if 

two or more ETP Holders become 

affiliated on or prior to the sixteenth day 

of a month, and submit the required 

request for aggregation on or prior to the 

twenty-second day of the month, an 

approval of the request would be 

deemed to be effective as of the first day 

of that month. If two or more ETP 

Holders become affiliated after the 

sixteenth day of a month, or submit a 

request for aggregation after the twenty 

second day of the month, an approval of 

the request would be deemed to be 

effective as of the first day of the next 

calendar month. The Exchange believes 

that this requirement, which is also 

similar to requirements of the Exchange 

Affiliates, would be a fair and objective 

way to apply the aggregation rule to fees 

and streamline the billing process. The 

Exchange further proposes to provide 

that for purposes of applying any 

provision of the Schedule of Fees and 

Rebates where the charge assessed, or 

credit provided, by the Exchange 

depends upon the volume of an ETP 

Holder’s activity, references to an entity 

would be deemed to include the entity 

and its affiliates that have been 

approved for aggregation. The Exchange 

proposes to provide that ETP Holders 

may not aggregate volume where the 

Schedule of Fees and Rebates specifies 

that aggregation is not permitted.7

Finally, the Exchange proposes that 

for purposes of the Schedule of Fees and 

Rebates, the term ‘‘affiliate’’ would 

mean any ETP Holder under 75% 

common ownership or control of that 

ETP Holder. Once again, this is 

consistent with the rules of the 

Exchange Affiliates and other 

exchanges.8

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,9 in general, and 

furthers the objectives of Sections 

6(b)(4) and 6(b)(5) of the Act,10 in 

particular, because it provides for the 

equitable allocation of reasonable dues, 


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Federal Register / Vol. 83, No. 161 / Monday, August 20, 2018 / Notices 42197 

11See notes 5–6, supra. 

12 15 U.S.C. 78f(b)(8). 

13 15 U.S.C. 78s(b)(3)(A)(iii). 

14 17 CFR 240.19b–4(f)(6). 

15 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change at least five business days 

prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. The Exchange has satisfied this 

requirement. 

16 17 CFR 240.19b–4(f)(6). 

17 17 CFR 240.19b–4(f)(6)(iii). 

18For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 

19 15 U.S.C. 78s(b)(2)(B). 

fees, and other charges among its 

members, issuers and other persons 

using its facilities and does not unfairly 

discriminate between customers, 

issuers, brokers or dealers, and because 

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. 

The Exchange believes that the 

proposed rule change establishes a 

reasonable and clear process for the 

Exchange to treat affiliated ETP Holders 

for purposes of assessing charges or 

credits that are based on volume. The 

provision is equitable because all ETP 

Holders seeking to aggregate their 

activity are subject to the same 

parameters, in accordance with a 

standard that recognizes an affiliation as 

of the month’s beginning or close in 

time to when the affiliation occurs, 

provided the ETP Holder submits a 

timely request. Moreover, the proposed 

billing aggregation language is 

substantially similar to aggregation 

language adopted by the NYSE Affiliates 

and other exchanges.11

The Exchange notes that the proposal 

would serve to reduce disparity of 

treatment between ETP Holders with 

regard to the pricing of different services 

and reduce any potential for confusion 

on how activity can be aggregated. The 

Exchange believes that the proposed 

rule change avoids disparate treatment 

of ETP Holders that have divided their 

various business activities between 

separate corporate entities as compared 

to ETP Holders that operate those 

business activities within a single 

corporate entity. The Exchange further 

notes that the proposed rule change is 

reasonable and is designed to remove 

impediments to and perfect the 

mechanism of a free and open market by 

harmonizing the manner by which the 

Exchanges permits ETP Holders to 

aggregate volume with other exchanges. 

As noted, the Exchange Affiliates and 

other markets all have the same 

standard that the Exchange is proposing 

to adopt. 

For the foregoing reasons, the 

Exchange believes that the proposal is 

consistent with the Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

In accordance with Section 6(b)(8) of 

the Act,12 the Exchange believes that the 

proposed rule change would not impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

proposed rule change, which would 

apply equally to all ETP Holders, would 

incent submission of order flow to a 

public exchange by permitting the 

Exchange to apply price discounts to 

ETP Holders that have requested 

aggregation with an affiliated ETP 

Holder and is substantially similar to 

rules adopted by the Exchange Affiliates 

as well as other exchanges. Because the 

market for order execution and routing 

is extremely competitive, ETP Holders 

may readily opt to disfavor the 

Exchange if they believe that 

alternatives offer them better value. The 

Exchange does not believe the proposed 

changes will impair the ability of ETP 

Holders or competing order execution 

venues to maintain their competitive 

standing in the financial markets. 

Moreover, because the Exchange does 

not propose to alter or modify specific 

fees or credits applicable to ETP 

Holders, the proposal does not impose 

any burden on competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 13 and Rule 

19b–4(f)(6) thereunder.14 Because the 

proposed rule change does not: (i) 

Significantly affect the protection of 

investors or the public interest; (ii) 

impose any significant burden on 

competition; and (iii) become operative 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act and Rule 19b–4(f)(6)(iii) 

thereunder. 15

A proposed rule change filed under 

Rule 19b–4(f)(6) 16 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),17 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. The 

Exchange has requested that the 

Commission waive the 30-day operative 

delay so that the proposal may become 

operative immediately upon filing. 

According to the Exchange, waiving the 

30-day operative delay would be 

consistent with the protection of 

investors and the public interest 

because it would enable the Exchange to 

harmonize its rules with respect to 

aggregation of affiliate activity with the 

rules of its affiliates without delay and, 

as a result, reduce potential confusion 

for investors. The Exchange explains 

that as it is harmonizing its Schedule of 

Fees and Rebates with the requirements 

in the price lists of its affiliates as well 

as other exchanges, the proposed change 

does not present any new or novel 

issues. The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest. 

Accordingly, the Commission waives 

the 30-day operative delay and 

designates the proposed rule change 

operative upon filing.18

At any time within 60 days of the 

filing of such proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

under Section 19(b)(2)(B) 19 of the Act to 

determine whether the proposed rule 

change should be approved or 

disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 


daltland on DSKBBV9HB2PROD with NOTICES
42198 Federal Register / Vol. 83, No. 161 / Monday, August 20, 2018 / Notices 

20 17 CFR 200.30–3(a)(12). 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSENAT–2018–18 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSENAT–2018–18. This 

file number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change; 

the Commission does not edit personal 

identifying information from 

submissions. Persons submitting 

comments are cautioned that we do not 

redact or edit personal identifying 

information from comment submissions. 

You should submit only information 

that you wish to make available 

publicly. All submissions should refer 

to File Number SR–NYSENAT–2018–18 

and should be submitted on or before 

September 10, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.20

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2018–17830 Filed 8–17–18; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 10512] 

Certification Related to the Central 

Government of Haiti Under the 

Department of State, Foreign 

Operations, and Related Programs 

Appropriations Act, 2018 

Pursuant to section 7045(c) (1) of the 

Department of State, Foreign 

Operations, and Related Programs 

Appropriations Act, 2018 (Div. K, Pub. 

L. 115–141), I hereby certify that the 

central Government of Haiti is taking 

effective steps, which are in addition to 

steps taken since the certification and 

report submitted on August 3, 2017, if 

applicable, to: 

• Strengthen the rule of law in Haiti, 

including by selecting judges in a 

transparent manner based on merit; 

reducing pre-trial detention; respecting 

the independence of the judiciary; and 

improving governance by implementing 

reforms to increase transparency and 

accountability, including through the 

penal and criminal codes; 

• Combat corruption, including by 

implementing the anti-corruption law 

enacted in 2014 and prosecuting corrupt 

officials; 

• Increase government revenues, 

including by implementing tax reforms, 

and increase expenditures on public 

services; and 

• Resolve commercial disputes 

between United States entities and the 

Government of Haiti. 

Dated: August 13, 2018. 

Michael Pompeo, 

Secretary of State. 

[FR Doc. 2018–17920 Filed 8–17–18; 8:45 am] 

BILLING CODE 4710–29–P 

TENNESSEE VALLEY AUTHORITY 

[Meeting No. 18–03] 

Sunshine Act Meetings 

TIME AND DATE: 9:30 a.m. (ET) on August 

22, 2018. 

PLACE: TVA West Tower Auditorium, 

400 West Summit Hill Drive, Knoxville, 

Tennessee. 

STATUS: Open. 

MATTERS TO BE CONSIDERED: The TVA 

Board of Directors will hold a public 

meeting. The public may comment on 

any agenda item or subject at the public 

listening session. Following the end of 

the public listening session, the meeting 

will be called to order to consider the 

agenda items listed below. On-site 

registration will be available until 15 

minutes before the public listening 

session begins at 9:30 a.m. (ET). 

Preregistered speakers will address the 

Board first. TVA management will 

answer questions from the news media 

following the Board meeting. 

Agenda 

1. Approval of minutes of the May 10, 

2018, Board Meeting 

2. Report from President and CEO 

3. Report of the Finance, Rates, and 

Portfolio Committee 

A. FY 2019 Financial Plan and Budget 

B. Rate adjustment 

C. Financing authority 

D. Nuclear fuel supply contracts 

E. Integrated Supply Program 

4. Report of the Audit, Risk, and 

Regulation Committee 

A. FY 2019 external auditor selection 

5. Report of the External Relations 

Committee 

A. Public Land Protection Policy 

6. Report of the Nuclear Oversight 

Committee 

7. Report of the People and Performance 

Committee 

A. Corporate goals 

B. Long-term incentive plan revisions 

C. Health savings account contract 

CONTACT PERSON FOR MORE INFORMATION: 

Please call TVA Media Relations at 

(865) 632–6000, Knoxville, Tennessee. 

People who plan to attend the meeting 

and have special needs should call (865) 

632–6000. Anyone who wishes to 

comment on any of the agenda in 

writing may send their comments to: 

TVA Board of Directors, Board Agenda 

Comments, 400 West Summit Hill 

Drive, Knoxville, Tennessee 37902. 

Dated: August 15, 2018. 

Sherry A. Quirk, 

General Counsel. 

[FR Doc. 2018–17969 Filed 8–16–18; 11:15 am] 

BILLING CODE 8120–08–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

Availability of Noise Compatibility 

Program for Chicago Executive 

Airport, Wheeling and Prospect 

Heights, Illinois 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice. 

SUMMARY: The Federal Aviation 

Administration (FAA) announces its 

determination that the updated noise 

exposure maps submitted by the 

Chicago Executive Airport under the 

provisions of the (Aviation Safety and 

Noise Abatement Act) and Title 14 Code 

of Federal Regulations (CFR) Part 150 


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