Federal Register / Vol. 83, No. 168 / Wednesday, August 29, 2018 / Notices 44115 

10 15 U.S.C. 78s(b)(3)(A). 

11 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, along with a brief 

description and text of 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. 

12 17 CFR 240.19b–4(f)(6). 

13 17 CFR 240.19b–4(f)(6)(iii). 

14For purposes only of waiving the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 

15 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

necessary or appropriate in furtherance 

of the purposes of the Act, as amended. 

The proposed rule change eliminates a 

fee code that is no longer in use by the 

Exchange due to the fact that IEX is no 

longer an eligible destination for the 

TRIM and TRIM2 routing strategies. As 

the proposed rule change only makes a 

non-substantive change to retire a fee 

code that is not currently in use, the 

Exchange believes that it will not cause 

any significant 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 either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing 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 for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 10 and Rule 19b– 

4(f)(6) thereunder.11

A proposed rule change filed 

pursuant to Rule 19b–4(f)(6) under the 

Act 12 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 13

permits the Commission to designate a 

shorter time if such action is consistent 

with the protection of investors and the 

public interest. The Exchange has asked 

the Commission to waive the 30-day 

operative delay so that the proposed 

rule change may become operative 

immediately upon filing. The Exchange 

notes that waiver of the operative delay 

would allow it to immediately remove 

an outdated fee code from its fee 

schedule, the elimination of which 

would ensure that the fee schedule 

properly reflects the routing strategies 

currently available for routing to IEX. 

The Commission believes that waiving 

the 30-day operative delay is consistent 

with the protection of investors and the 

public interest because the proposed 

rule change is designed to increase 

transparency around the operation of 

the Exchange and the routing strategies 

that it provides. Accordingly, the 

Commission hereby waives the 

operative delay and designates the 

proposal operative upon filing.14

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) otherwise in 

furtherance of the purposes of the Act. 

If the Commission takes such action, the 

Commission shall institute proceedings 

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 proposal 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 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

CboeBZX–2018–060 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–CboeBZX–2018–060. 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 such 

filing will also be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

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–CboeBZX–2018–060 and 

should be submitted on or before 

September 19, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–18677 Filed 8–28–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83929; File No. SR–NYSE– 

2018–37] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

a Proposed Rule Change To Amend its 

Price List 

August 23, 2018. 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that, on August 

10, 2018, New York Stock Exchange 

LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the selfregulatory 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 

Price List to (1) amend the cap 

applicable to certain transactions at the 


sradovich on DSK3GMQ082PROD with NOTICES
44116 Federal Register / Vol. 83, No. 168 / Wednesday, August 29, 2018 / Notices 

4The Exchange originally filed to amend the 

Price List on August 1, 2018 (SR–NYSE–2018–36) 

and withdrew such filing on August 10, 2018. This 

filing replaces SR–NYSE–2018–36 in its entirety. 

5Footnote 2 to the Price List defines ADV as 

‘‘average daily volume’’ and ‘‘Adding ADV’’ as ADV 

that adds liquidity to the Exchange during the 

billing month. The Exchange is not proposing to 

change these definitions. 

6Under Rule 107B, an SLP can be either a 

proprietary trading unit of a member organization 

(‘‘SLP-Prop’’) or a registered market maker at the 

Exchange (‘‘SLMM’’). For purposes of the 10% 

average or more quoting requirement in assigned 

securities pursuant to Rule 107B, quotes of an SLPProp and an SLMM of the same member 

organization are not aggregated. However, for 

purposes of adding liquidity for assigned SLP 

securities in the aggregate, shares of both an SLPProp and an SLMM of the same member 

organization are included. 

open; (2) add new incentives for 

member organizations and 

Supplemental Liquidity Providers 

(‘‘SLP’’) in Tape A securities when 

adding liquidity in securities traded 

pursuant to Unlisted Trading Privileges 

(‘‘UTP’’) (Tapes B and C); (3) add a new 

Step Up tier for SLPs in Tape A 

securities; and (4) amend the alternative 

NYSE Crossing Session II (‘‘NYSE CSII’’) 

fee cap. The Exchange proposes to 

implement these changes to its Price 

List effective August 10, 2018.4 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 

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 

Price List to (1) amend the cap 

applicable to certain transactions at the 

open; (2) add new incentives for 

member organizations and SLPs in Tape 

A securities when adding liquidity in 

UTP Securities (Tapes B and C); (3) add 

a new Step Up tier for SLPs in Tape A 

securities; and (4) amend the alternative 

NYSE CSII fee cap. In general, the 

proposed amendments are intended to 

encourage greater participation by 

Exchange member organizations and 

encourage submission of additional 

liquidity to a national securities 

exchange, to the benefit of all market 

participants. 

The Exchange proposes to implement 

these changes to its Price List effective 

August 10, 2018. 

Executions at the Open 

For securities priced $1.00 or more, 

the Exchange currently charges fees of 

$0.0010 per share for executions at 

open, and $0.0003 per share for Floor 

broker executions at the open, subject to 

$30,000 cap per month per member 

organization, provided the member 

organization executes an average daily 

trading volume (‘‘ADV’’) that adds 

liquidity to the Exchange during the 

billing month (‘‘Adding ADV’’),5

excluding liquidity added by a DMM, of 

at least five million shares, unless the 

lower $20,000 monthly fee cap applies. 

The lower fee cap applies to member 

organizations that execute an ADV that 

takes liquidity from the NYSE during 

the billing month (‘‘Taking ADV’’), 

excluding liquidity taken by a DMM, of 

at least 1.30% of NYSE consolidated 

average daily volume (‘‘CADV’’) and an 

ADV of orders for execution at the open 

(‘‘Open ADV’’) of at least 8 million 

shares. 

The Exchange proposes to lower the 

alternative fee cap from $20,000 to 

$10,000. The Exchange would also 

require member organizations to execute 

a Taking ADV, excluding liquidity taken 

by a DMM, of at least 1.20% of NYSE 

CADV in order to qualify for the lower 

cap. The additional requirement of an 

Open ADV of at least 8 million shares 

would remain unchanged. 

New Cross Tape Incentive 

The Exchange proposes an additional 

incentive to member organizations and 

SLPs in Tape A securities that add 

liquidity to the Exchange in UTP 

Securities, as follows. 

As proposed, member organizations 

that meet the current requirements for 

the Tier 1 Adding Credit or Tier 2 

Adding Credit on Tape A would be 

eligible to receive an additional 

$0.00005 per share in Tape A securities 

if the member organization adds 

liquidity, excluding liquidity added as 

an SLP, in UTP Securities of at least 

0.20% of Tape B and Tape C CADV 

combined. 

Similarly, SLPs that (1) meet the 

current requirements for the SLP Tier 1 

or Tier 4 credits or the proposed 

requirements for the SLP Step Up Tier 

credits described below, and (2) add 

liquidity in UTP Securities of at least 

0.30% of Tape B and Tape C CADV 

combined, would be eligible for an 

additional $0.00005 per share in Tape A 

securities for SLPs that meet the 

requirements for SLP Tier 1 and Tier 4 

credits or an additional $0.0001 in Tape 

A securities for SLPs that meet the 

requirements for SLP Step Up Tier in 

securities with a per share price of $1.00 

or more that meet the 10% average or 

more quoting requirement in an 

assigned security pursuant to Rule 107B 

(quotes of an SLP-Prop and an SLMM of 

the same member organization would 

not be aggregated).6

SLPs that meet the current 

requirements for SLP Tier 1 and add 

liquidity in UTP Securities of at least 

0.30% of Tape B and Tape C CADV 

combined would receive an additional 

credit of $0.00005 per share in Tape A 

securities for adding liquidity in 

securities, other than MPL and NonDisplay Reserve orders, where they are 

not assigned as an SLP or in securities 

where they do not meet the 10% average 

or more quoting requirement in an 

assigned security pursuant to Rule 

107B. For example, assume an SLP 

meets the requirements of SLP Tier 1 

and adds liquidity in UTP Securities of 

at least 0.30% of Tape B and Tape C 

CADV combined. Further assume that 

the SLP averages an Adding ADV of 28 

million shares a day in Tape A 

securities, with 20 million shares ADV 

in securities that meet the 10% quoting 

requirement and 8 million shares ADV 

in securities below the 10% 

requirement. Also assume that the SLP 

adds an additional 10 million shares 

ADV in Tape A securities as a non-SLP. 

Under these facts, the SLP would 

receive an $0.00005 credit for all 28 

million Adding ADV shares as an SLP 

as well as the 10 million Adding ADV 

shares as a non-SLP. 

New SLP Step Up Tier 

The Exchange proposes a new, sixth 

SLP Tier designated the ‘‘SLP Step Up 

Tier’’ that would provide that an SLP, 

when adding liquidity to the NYSE with 

orders, other than MPL orders, in 

securities with a per share price of $1.00 

or more, would receive a credit of 

$0.0018, or $0.0001 if a Non-Displayed 

Reserve Order, if the SLP (1) meets the 

10% average or more quoting 

requirement in an assigned security 

pursuant to Rule 107B (quotes of an 

SLP-Prop and an SLMM of the same 


sradovich on DSK3GMQ082PROD with NOTICES
Federal Register / Vol. 83, No. 168 / Wednesday, August 29, 2018 / Notices 44117 

7CSII runs on the Exchange from 4:00 p.m. to 

6:30 p.m. Eastern Time and handles member 

organization crosses of baskets of securities of 

aggregate-priced buy and sell orders. See NYSE 

Rules 900–907. 

8The Exchange also proposes non-substantive 

changes to delete and add a space on either side of 

footnote 8 at the end of the description of SLP Tier 

1A. 

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

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

member organization would not be 

aggregated), and (2) adds liquidity for all 

assigned SLP securities in the aggregate 

(including shares of both an SLP-Prop 

and an SLMM of the same or an 

affiliated member organization) of an 

ADV of more than 0.085% of NYSE 

CADV over that SLPs’ April 2018 

adding liquidity for all assigned SLP 

securities in the aggregate (including 

shares of both an SLP-Prop and an 

SLMM of the same or an affiliated 

member organization) taken as a 

percentage of NYSE CADV. SLPs that 

are also DMMs and subject to Rule 

107B(i)(2)(A) would need to add 

liquidity for all assigned SLP securities 

in the aggregate (including shares of 

both an SLP-Prop and an SLMM of the 

same or an affiliated member 

organization) of an ADV of more than 

0.085% of NYSE CADV over that SLPs’ 

April 2018 adding liquidity for all 

assigned SLP securities in the aggregate 

(including shares of both an SLP-Prop 

and an SLMM of the same or an 

affiliated member organization) taken as 

a percentage of NYSE CADV after a 

discount of the percentage for the prior 

quarter of NYSE CADV in DMM 

assigned securities as of the last 

business day of the prior month. The 

Exchange believes the new tier would 

provide greater incentives for more SLPs 

to add more liquidity to the Exchange. 

NYSE CSII Fee Cap 

Currently, the Exchange charges a fee 

of $0.0004 per share (both sides) for 

executions in NYSE CSII.7 Fees for 

executions in CSII are capped at 

$200,000 per month per member 

organization unless the alternative, 

lower cap of $25,000 per month per 

member organization applies for 

member organizations that execute a 

Taking ADV, excluding liquidity taken 

by a DMM, of at least 1.30% of NYSE 

CADV and Open ADV of at least 8 

million shares. 

The Exchange proposes to lower the 

alternative cap to $15,000 per month for 

member organizations that execute a 

Taking ADV, excluding liquidity taken 

by a DMM, of at least 1.20% of NYSE 

CADV. The requirement for executing 

an Open ADV of at least 8 million 

shares would remain unchanged.8

* * * * * 

The proposed changes are not 

otherwise intended to address any other 

issues, and the Exchange is not aware of 

any problems that member 

organizations would have in complying 

with the proposed change. 

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, 

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. 

Executions at the Open 

The Exchange believes that lowering 

the alternative fee cap to $10,000 and 

lowering the requirement for member 

organizations to execute a Taking ADV, 

excluding liquidity taken by a DMM, to 

at least 1.20% of NYSE CADV in order 

to qualify for the lower cap for 

executions at the open is reasonable, 

equitable and not unfairly 

discriminatory because it would 

encourage additional liquidity on the 

Exchange and because members and 

member organizations benefit from the 

substantial amounts of liquidity that are 

present on the Exchange. The Exchange 

believes the proposed changes are 

equitable and not unfairly 

discriminatory because it would 

continue to encourage member 

organizations to send orders, thereby 

contributing to robust levels of liquidity, 

which benefits all market participants. 

The proposed changes will encourage 

the submission of additional liquidity to 

a national securities exchange, thereby 

promoting price discovery and 

transparency and enhancing order 

execution opportunities for member 

organizations from the substantial 

amounts of liquidity that are present on 

the Exchange. Moreover, the proposed 

changes are equitable and not unfairly 

discriminatory because they would 

apply equally to all qualifying member 

organizations, including Floor brokers, 

that submit orders to the NYSE opening 

and that remove liquidity from the 

Exchange. 

New Cross Tape Incentive 

The Exchange believes that providing 

an additional incentive in Tape A 

securities for member organizations that 

add liquidity in UTP Securities is 

reasonable because it would further 

contribute to incenting member 

organizations to provide additional 

liquidity to a public exchange in UTP 

Securities, thereby promoting price 

discovery and transparency and 

enhancing order execution 

opportunities for member organizations. 

The Exchange believes that that the 

proposal is reasonable and not unfairly 

discriminatory because it would apply 

to all member organizations eligible for 

the relevant Tape A tier credits equally. 

The Exchange further believes that 

extending the additional credit to Tier 1 

Adding Credit and Tier 2 Adding Credit 

is reasonable because it would increase 

the number of member organizations at 

the higher tiers that could qualify for the 

proposed credit. The Exchange further 

believes that the proposed credit is 

reasonable and not unfairly 

discriminatory because, although the 

proposed additional credit is less than 

that offered for Non-Tier, Adding Tier 3 

and Adding Tier 4, members 

organizations qualifying for Tier 1 

Adding Credit and Tier 2 Adding Credit 

tiers already receive a higher credit for 

such executions. Similarly, the 

Exchange believes that extending the 

additional credit to SLP Tier 1 and SLP 

Tier 4 and the proposed SLP Step Up 

Tier is reasonable and not unfairly 

discriminatory because SLPs qualifying 

for SLP Tier 3, SLP Tier 2 and SLP Tier 

1A would already receive a higher 

additional credit for such executions. 

The Exchange further believes that the 

proposed credit is reasonable and not 

unfairly discriminatory because, 

although the proposed additional credit 

for SLP Tier 1 and SLP Tier 4 is less 

than that offered for SLP Tier 3, SLP 

Tier 2, SLP Tier 1A and the proposed 

SLP Step Up Tier, SLPs qualifying for 

SLP Tier 1 and SLP Tier 4 already 

receive a higher credit for such 

executions. In addition, the Exchange 

believes that the additional credit of 

$0.00005 per share for SLPs that meet 

the current requirements for SLP Tier 1 

and add liquidity in UTP Securities of 

at least 0.30% of Tape B and Tape C 

CADV combined for adding liquidity in 

securities where they are not assigned as 

an SLP or in securities where they do 

not meet the 10% average or more 

quoting requirement in an assigned 

security pursuant to Rule 107B is 

reasonable and not unfairly 

discriminatory because SLP Tier 1 has 

the highest Adding ADV requirement. 

Finally, the proposed cross tape 

incentives are equitable and not unfairly 

discriminatory because they would 

apply equally to all qualifying member 

organizations, including SLPs, that add 


sradovich on DSK3GMQ082PROD with NOTICES
44118 Federal Register / Vol. 83, No. 168 / Wednesday, August 29, 2018 / Notices 

11 15 U.S.C. 78f(b)(8). 

12 15 U.S.C. 78s(b)(3)(A). 

13 17 CFR 240.19b–4(f)(2). 

14 15 U.S.C. 78s(b)(2)(B). 

liquidity to the Exchange in Tape A, 

Tape B and Tape C securities and that 

qualify for SLP Tier 1, SLP Tier 4, 

Adding Tier 1, and Adding Tier 2. 

New SLP Step Up Tier 

The Exchange believes that the 

proposal to introduce a new SLP Step 

Up Tier is reasonable because it 

provides SLPs as well as SLPs that are 

also DMMs with an additional way to 

qualify for a rebate, thereby providing 

SLPs with greater flexibility and 

creating an added incentive for SLPs to 

bring additional order flow to a public 

market. In particular, as noted above, 

the Exchange believes that the new tier 

will provide greater incentives for more 

active SLPs to add liquidity to the 

Exchange, to the benefit of the investing 

public and all market participants. 

Moreover, offering a higher credit for 

SLPs that add liquidity for all assigned 

SLP securities in the aggregate 

(including shares of both an SLP-Prop 

and an SLMM of the same or an 

affiliated member organization) of an 

ADV of more than 0.085% of NYSE 

CADV over that SLPs’ April 2018 

adding liquidity and that meet the SLP 

quoting requirements would provide an 

incentive for less active SLPs to add 

liquidity in order to meet the SLP 

quoting requirements, thereby 

contributing to additional levels of 

liquidity to a public exchange, which 

benefits all market participants. Finally, 

the Exchange believes that the proposed 

tier is equitable and not unfairly 

discriminatory because it would apply 

equally to all SLPs that don’t qualify for 

better SLP tiered credits and that would 

submit additional adding liquidity to 

the Exchange in order to qualify for the 

new credit. 

NYSE CSII Fee Cap 

The Exchange believes that lowering 

the alternative cap to $15,000 per month 

and the Taking ADV requirement to at 

least 1.20% of NYSE CADV is 

reasonable and an equitable allocation 

of fees because it would encourage the 

execution of additional liquidity on a 

public exchange, thereby promoting 

price discovery and transparency. 

Further, the Exchange believes that the 

proposed requirements are reasonable, 

equitable and not unfairly 

discriminatory because all member 

organizations that submit orders to the 

NYSE open, remove liquidity from the 

Exchange, and participate in CSII will 

be subject to the same fee structure and 

access to the Exchange’s market would 

continue to be offered on fair and nondiscriminatory terms. The Exchange 

further believes that the proposed 

lowering of the Taking ADV 

requirement would encourage 

additional member organizations to 

participate in CSII. 

Finally, the Exchange believes that it 

is subject to significant competitive 

forces, as described below in the 

Exchange’s statement regarding the 

burden on competition. 

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,11 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. Instead, the 

Exchange believes that the proposed 

change would foster liquidity provision 

and stability in the marketplace, thereby 

promoting price discovery and 

transparency and enhancing order 

execution opportunities for member 

organizations. In this regard, the 

Exchange believes that the transparency 

and competitiveness of attracting 

additional executions on an exchange 

market would encourage competition. 

The Exchange also believes that the 

proposed rule change is designed to 

provide the public and investors with a 

Price List that is clear and consistent, 

thereby reducing burdens on the 

marketplace and facilitating investor 

protection. 

Finally, the Exchange notes that it 

operates in a highly competitive market 

in which market participants can 

readily favor competing venues if they 

deem fee levels at a particular venue to 

be excessive or rebate opportunities 

available at other venues to be more 

favorable. In such an environment, the 

Exchange must continually adjust its 

fees and rebates to remain competitive 

with other exchanges and with 

alternative trading systems that have 

been exempted from compliance with 

the statutory standards applicable to 

exchanges. Because competitors are free 

to modify their own fees and credits in 

response, and because market 

participants may readily adjust their 

order routing practices, the Exchange 

believes that the degree to which fee 

changes in this market may impose any 

burden on competition is extremely 

limited. As a result of all of these 

considerations, the Exchange does not 

believe that the proposed changes will 

impair the ability of member 

organizations or competing order 

execution venues to maintain their 

competitive standing in the financial 

markets. 

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 foregoing rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A) 12 of the Act and 

subparagraph (f)(2) of Rule 19b–4 13

thereunder, because it establishes a due, 

fee, or other charge imposed by the 

Exchange. 

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) 14 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 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSE–2018–37 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Brent J. Fields, Secretary, Securities 

and Exchange Commission, 100 F Street 

NE, Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSE–2018–37. 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 


sradovich on DSK3GMQ082PROD with NOTICES
Federal Register / Vol. 83, No. 168 / Wednesday, August 29, 2018 / Notices 44119 

15 17 CFR 200.30–3(a)(12). 

1Section 211 of Public Law 104–193, the Personal 

Responsibility and Work Opportunity 

Reconciliation Act of 1996, amended section 

1614(a)(3) of the Act to provide a definition of 

disability for children separate from that for adults. 

2Section 5103 of Public Law 101–508, the 

Omnibus Budget Reconciliation Act of 1990, 

amended section 223 of the Act to repeal the special 

definition of disability applicable in widows’ 

claims and conformed the definition of disability 

for widows to that for all other title II claimants and 

title XVI adult claimants. 

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. 

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–NYSE–2018–37 and should 

be submitted on or before September 19, 

2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–18678 Filed 8–28–18; 8:45 am] 

BILLING CODE 8011–01–P 

SOCIAL SECURITY ADMINISTRATION 

[Docket No. SSA–2018–0037] 

Rescission of Social Security Ruling 

82–53: Titles II and XVI: Basic 

Disability Evaluation Guides 

AGENCY: Social Security Administration. 

ACTION: Notice of rescission of Social 

Security Ruling 82–53. 

SUMMARY: The Acting Commissioner of 

Social Security gives notice of the 

rescission of Social Security Ruling 

(SSR) 82–53. 

DATES: This rescission is applicable on 

August 29, 2018. 

FOR FURTHER INFORMATION CONTACT: Dan 

O’Brien, Office of Vocational, 

Evaluation, and Process Policy in the 

Office of Disability Policy, Social 

Security Administration, 6401 Security 

Boulevard, Baltimore, MD 21235–6401, 

(410) 597–1632. For information on 

eligibility or filing for benefits, call our 

national toll-free number, 1–800–772– 

1213 or TTY 1–800–325–07708, or visit 

our internet site, Social Security Online, 

at http://www.socialsecurity.gov. 

SUPPLEMENTARY INFORMATION: Although 

5 U.S.C. 552(a)(1) and (a)(2) do not 

require us to publish this notice, we are 

doing so in accordance with 20 CFR 

402.35(b)(1). 

Through SSRs, we make available to 

the public precedential decisions 

relating to the Federal old-age, 

survivors, disability, supplemental 

security income, and special veterans 

benefits programs. We may base SSRs 

on determinations or decisions made at 

all levels of administrative adjudication, 

Federal court decisions, Commissioner’s 

decisions, opinions of the Office of 

General Counsel, or other 

interpretations of the law and 

regulations. 

We are rescinding SSR 82–53: ‘‘Titles 

II and XVI: Basic Disability Evaluation 

Guides,’’ because it is in part 

duplicative of other policy guidance and 

in part outdated. 

SSR 82–53 provided an overview and 

an explanation of the definition and 

terms contained in the disability 

provisions of title II and title XVI of the 

Social Security Act (Act) and 

implementing regulations. The 

information in the SSR duplicates 

information available in the Act, 

regulations, and other sub-regulatory 

policy documents. For example, the 

definitions of ‘‘disability’’ and 

‘‘blindness’’ already appear in the Act 

and in our regulations. 

Additionally, some of the information 

in SSR 82–53 is outdated. For example, 

we no longer need to include language 

from expired State plans that excluded 

newly eligible Supplemental Security 

Income (SSI) recipients from State plans 

because those plans were rolled over as 

SSI benefits more than forty years ago. 

Another example is the elimination of 

the ‘‘comparable severity’’ disability 

standard for children’s impairments, 

which was repealed under the Personal 

Responsibility and Work Opportunity 

Reconciliation Act of 1996.1 The 

updated policies regarding children’s 

benefits under title XVI are well 

documented in our regulations and subregulatory policy documents. Similarly, 

the Omnibus Budget Reconciliation Act 

of 1990 removed the special standard of 

‘‘engaging in gainful activity’’ for 

determining disability for widows after 

1991.2 Therefore, we are rescinding SSR 

82–53 as the information it contains 

duplicates information available in the 

Act, regulations, and other subregulatory policy documents and is 

outdated. 

(Catalog of Federal Domestic Assistance, 

Programs Nos. 96.001, Social Security— 

Disability Insurance; 96.002, Social 

Security— Retirement Insurance; 96.004, 

Social Security—Survivors Insurance; 

96.006—Supplemental Security Income.) 

Nancy A. Berryhill, 

Acting Commissioner of Social Security. 

[FR Doc. 2018–18739 Filed 8–28–18; 8:45 am] 

BILLING CODE 4191–02–P 

DEPARTMENT OF STATE 

[Public Notice: 10523] 

Determination Under Section 7012 of 

the Department of State, Foreign 

Operations, and Related Programs 

Appropriations Act, 2018 Relating to 

Assistance to Somalia 

Pursuant to section 7012 of the 

Department of State, Foreign 

Operations, and Related Programs 

Appropriations Act, 2018 (Div. K, Pub. 

L. 115–141) (the Act); Executive Order 

12163, as amended by E.O. 13346; and 

Delegation of Authority No. 245–2, I 

hereby determine that assistance to 

Somalia is in the national interest of the 

United States and thereby waive, with 

respect to Somalia, the application of 

section 7012 of the Act. 

This Determination shall be published 

in the Federal Register and, along with 

the accompanying Memorandum of 

Justification, shall be reported to 

Congress. 

Dated: July 31, 2018. 

John J. Sullivan, 

Deputy Secretary of State. 

[FR Doc. 2018–18754 Filed 8–28–18; 8:45 am] 

BILLING CODE 4710–26–P 

STATE JUSTICE INSTITUTE 

SJI Board of Directors Meeting, Notice 

AGENCY: State Justice Institute. 

ACTION: Notice of meeting. 

SUMMARY: The SJI Board of Directors 

will be meeting on Monday, September 


sradovich on DSK3GMQ082PROD with NOTICES