Securities and Exchange Commission
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission [Release No. 34-66464; File Nos. SR-NYSE-2011-55; SR-NYSEAmex-2011-84] I. Introduction On October 19, 2011, New York Stock Exchange LLC (“NYSE”) and NYSE Amex LLC (“NYSE Amex” 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 (“Act”)  [ 1 ] and Rule 19b-4 thereunder, [ 2 ] a proposed rule change to establish a Retail Liquidity Program (“Program”) on a pilot basis for a period of one year from the date of implementation, if approved. The proposed rule changes were published for comment in the Federal Register on November 9, 2011. [ 3 ] The Commission received 28 comments on the NYSE proposal  [ 4 ] and 4 comments on the NYSE Amex proposal. [ 5 ] On December 19, 2011, the Commission designated a longer period for Commission action on the proposed rule change, until February 7, 2012. [ 6 ] In connection with the proposals, the Exchanges requested exemptive relief from Rule 612(c) of Regulation NMS, [ 7 ] which prohibits a national securities exchange from accepting or ranking certain orders based on an increment smaller than the minimum pricing ( printed page 12630) increment. [ 8 ] The Exchanges submitted a consolidated response letter on January 3, 2012. [ 9 ] On January 17, 2012, each Exchange filed Amendment No. 1 to its proposal…
Citation: 77 FR 12629
