
[Federal Register Volume 79, Number 130 (Tuesday, July 8, 2014)]
[Notices]
[Pages 38619-38620]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-15818]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72512; File Nos. SR-NYSE-2013-72; SR-NYSEMKT-2013-91]


Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE 
MKT LLC; Notice of Withdrawal of Proposed Rule Changes To Establish an 
Institutional Liquidity Program on a One-Year Pilot Basis

July 1, 2014.
    On November 7, 2013, New York Stock Exchange LLC (``NYSE'') and 
NYSE MKT LLC (``NYSE MKT'' and together with NYSE, the ``Exchanges'') 
each filed with the Securities and Exchange Commission (``Commission'') 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934

[[Page 38620]]

(``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to 
establish an Institutional Liquidity Program (``ILP'') on a one-year 
pilot basis. The proposed rule changes were published for comment in 
the Federal Register on November 27, 2013.\3\ The Commission received 
three comments on the NYSE Proposal.\4\ On January 9, 2014, the 
Commission designated a longer period for Commission action on the 
proposed rule changes, until February 25, 2014.\5\ The Exchanges 
submitted a consolidated response letter on January 14, 2014.\6\ On 
February 25, 2014, the Commission instituted proceedings under Section 
19(b)(2)(B) of the Act to determine whether to disapprove the proposed 
rule changes.\7\ On June 27, 2014, the Exchanges withdrew the Proposals 
(SR-NYSE-2013-72; SR-NYSEMKT-2013-91).
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4
    \3\ See Securities Exchange Act Release Nos. 70909 (November 21, 
2013), 78 FR 71002 (SR-NYSE-2013-72) (``NYSE Proposal''); and 70910 
(November 21, 2013), 78 FR 70992 (SR-NYSEMKT-2013-91) (``NYSE MKT 
Proposal'') (collectively, the ``Proposals'').
    \4\ See Letters to the Commission from James Allen, Head, and 
Rhodri Pierce, Director, Capital Markets Policy, CFA Institute 
(December 18, 2013); Clive Williams, Vice President and Global Head 
of Trading, Andrew M. Brooks, Vice President and Head of U.S. Equity 
Trading, and Christopher P. Hayes, Vice President and Legal Counsel, 
T. Rowe Price Associates, Inc. (December 18, 2013); and Theodore R. 
Lazo, Managing Director and Associate General Counsel, Securities 
Industry and Financial Markets Association (December 20, 2013). 
These comment letters address only the NYSE Proposal, but since the 
NYSE MKT Proposal is nearly identical, the Commission has treated 
the letters as addressing both Proposals.
    \5\ See Securities Exchange Act Release No. 71267, 79 FR 2738 
(January 15, 2014).
    \6\ See Letter to the Commission from Janet McGinnis, EVP & 
Corporate Secretary, NYSE Euronext (January 14, 2014).
    \7\ See Securities Exchange Act Release No. 71609, 79 FR 11849 
(March 3, 2014).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2014-15818 Filed 7-7-14; 8:45 am]
BILLING CODE 8011-01-P


