Federal Register / Vol. 76, No. 69 / Monday, April 11, 2011 / Notices 20053 

Petitioner may either file a Participant 

Statement on PRC Form 61 or file a brief 

with the Commission no later than May 

2, 2011. 

Categories of issues apparently raised. 

Petitioner appears to raise the issue of 

failure to consider the effect on the 

community. See 39 U.S.C. 

404(d)(2)(A)(i). 

After the Postal Service files the 

administrative record and the 

Commission reviews it, the Commission 

may find that there are more legal issues 

than the one set forth above, or that the 

Postal Service’s determination disposes 

of one or more of those issues. The 

deadline for the Postal Service to file the 

administrative record with the 

Commission is April 12, 2011. See 39 

CFR 3001.113. In addition, the due date 

for any responsive pleading by the 

Postal Service to this Notice is April 12, 

2011. 

Availability; Web site posting. The 

Commission has posted the appeal and 

supporting material on its Web site at 

http://www.prc.gov. Additional filings 

in this case and participants’ 

submissions will also be posted on the 

Commission’s Web site, if provided in 

electronic format or amenable to 

conversion, and not subject to a valid 

protective order. Information on how to 

use the Commission’s Web site is 

available online or by contacting the 

Commission’s Webmaster via telephone 

at 202–789–6873 or via electronic mail 

at prc-webmaster@prc.gov. 

The appeal and all related documents 

are also available for public inspection 

in the Commission’s docket section. 

Docket section hours are 8 a.m. to 4:30 

p.m., Monday through Friday, except on 

Federal Government holidays. Docket 

section personnel may be contacted via 

electronic mail at prc-dockets@prc.gov 

or via telephone at 202–789–6846. 

Filing of documents. All filings of 

documents in this case shall be made 

using the Internet (Filing Online) 

pursuant to Commission rules 9(a) and 

10(a) at the Commission’s Web site, 

http://www.prc.gov, unless a waiver is 

obtained. See 39 CFR 3001.9(a) and 

3001.10(a). Instructions for obtaining an 

account to file documents online may be 

found on the Commission’s Web site or 

by contacting the Commission’s docket 

section at prc-dockets@prc.gov or via 

telephone at 202–789–6846. 

The Commission reserves the right to 

redact personal information which may 

infringe on an individual’s privacy 

rights from documents filed in this 

proceeding. 

Intervention. Those, other than the 

Petitioner and respondent, wishing to be 

heard in this matter are directed to file 

a notice of intervention. See 39 CFR 

3001.111(b). Notices of intervention in 

this case are to be filed on or before May 

2, 2011. A notice of intervention shall 

be filed using the Internet (Filing 

Online) at the Commission’s Web site 

unless a waiver is obtained for hardcopy 

filing. See 39 CFR 3001.9(a) and 

3001.10(a). 

Further procedures. By statute, the 

Commission is required to issue its 

decision within 120 days from the date 

it receives the appeal. See 39 U.S.C. 

404(d)(5). A procedural schedule has 

been developed to accommodate this 

statutory deadline. In the interest of 

expedition, in light of the 120-day 

decision schedule, the Commission may 

request the Postal Service or other 

participants to submit information or 

memoranda of law on any appropriate 

issue. As required by the Commission 

rules, if any motions are filed, responses 

are due 7 days after any such motion is 

filed. See 39 CFR 3001.21. 

It is ordered: 

1. The Postal Service shall file the 

administrative record regarding this 

appeal no later than April 12, 2011. 

2. Any responsive pleading by the 

Postal Service to this Notice is due no 

later than April 12, 2011. 

3. The procedural schedule listed 

below is hereby adopted. 

4. Pursuant to 39 U.S.C. 505, 

Christopher J. Laver is designated officer 

of the Commission (Public 

Representative) to represent the 

interests of the general public. 

5. The Secretary shall arrange for 

publication of this Notice and Order in 

the Federal Register. 

PROCEDURAL SCHEDULE

March 28, 2011 Filing of Appeal. 

April 12, 2011 ... Deadline for the Postal 

Service to file the administrative record in this 

appeal. 

April 12, 2011 ... Deadline for the Postal 

Service to file any responsive pleading. 

May 2, 2011 ..... Deadline for notices to intervene (see 39 CFR 

3001.111(b)). 

May 2, 2011 ..... Deadline for Petitioner’s 

Form 61 or initial brief in 

support of petition (see 

39 CFR 3001.115(a) and 

(b)). 

May 23, 2011 ... Deadline for answering 

brief in support of Postal 

Service (see 39 CFR 

3001.115(c)). 

June 7, 2011 .... Deadline for reply briefs in 

response to answering 

briefs (see 39 CFR 

3001.115(d)). 

PROCEDURAL SCHEDULE—Continued 

June 14, 2011 .. Deadline for motions by 

any party requesting oral 

argument; the Commission will schedule oral 

argument only when it is 

a necessary addition to 

the written filings (see 39 

CFR 3001.116). 

July 20, 2011 .... Expiration of the Commission’s 120-day decisional 

schedule (see 39 U.S.C. 

404(d)(5)) the expiration 

date is 120 days from 

March 22, 2011, the 

postmark date of the appeal). 

By the Commission. 

Shoshana M. Grove, 

Secretary. 

[FR Doc. 2011–8478 Filed 4–8–11; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Public Law 94–409, that 

the Securities and Exchange 

Commission will hold a Closed Meeting 

on Thursday, April 14, 2011 at 2 p.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) 

and 17 CFR 200.402(a)(3), (5), (7), 9(ii) 

and (10), permit consideration of the 

scheduled matters at the Closed 

Meeting. 

Commissioner Paredes, as duty 

officer, voted to consider the items 

listed for the Closed Meeting in a closed 

session. 

The subject matter of the Closed 

Meeting scheduled for Thursday, April 

14, 2011 will be: 

Institution and settlement of injunctive 

actions; 

Institution and settlement of 

administrative proceedings; and 

Other matters relating to enforcement 

proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have been 


srobinson on DSKHWCL6B1PROD with NOTICES
20054 Federal Register / Vol. 76, No. 69 / Monday, April 11, 2011 / Notices 

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

2 17 CFR 240.19b–4. 

3NASDAQ previously stated that it would file a 

proposed rule change to make the NLS pilot fees 

permanent. NASDAQ has also informed 

Commission staff that it is consulting with FINRA 

to develop a proposed rule change by FINRA to 

allow inclusion of FINRA/NASDAQ TRF data in 

NLS on a permanent basis. However, FINRA and 

NASDAQ have not completed their consultations 

regarding such a proposed rule change. 

Accordingly, NASDAQ is filing to seek a threemonth extension of the existing pilot. 

added, deleted or postponed, please 

contact: 

The Office of the Secretary at (202) 

551–5400. 

Dated: April 7, 2011. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–8670 Filed 4–7–11; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–64188; File No. SR– 

NASDAQ–2011–044] 

Self-Regulatory Organizations; the 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Extend Fee 

Pilot Program for NASDAQ Last Sale 

April 5, 2011. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on March 31, 

2011, The NASDAQ Stock Market LLC 

(‘‘NASDAQ’’ 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 Exchange. 

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 

NASDAQ is proposing to extend for 

three months the fee pilot pursuant to 

which NASDAQ distributes the 

NASDAQ Last Sale (‘‘NLS’’) market data 

products. NLS allows data distributors 

to have access to real-time market data 

for a capped fee, enabling those 

distributors to provide free access to the 

data to millions of individual investors 

via the internet and television. 

Specifically, NASDAQ offers the 

‘‘NASDAQ Last Sale for NASDAQ’’ and 

‘‘NASDAQ Last Sale for NYSE/Amex’’ 

data feeds containing last sale activity in 

U.S. equities within the NASDAQ 

Market Center and reported to the 

jointly-operated FINRA/NASDAQ Trade 

Reporting Facility (‘‘FINRA/NASDAQ 

TRF’’), which is jointly operated by 

NASDAQ and the Financial Industry 

Regulatory Authority (‘‘FINRA’’). The 

purpose of this proposal is to extend the 

existing pilot program for three months, 

from April 1, 2011 through June 30, 

2011. 

This pilot program supports the 

aspiration of Regulation NMS to 

increase the availability of proprietary 

data by allowing market forces to 

determine the amount of proprietary 

market data information that is made 

available to the public and at what 

price. During the pilot period, the 

program has vastly increased the 

availability of NASDAQ proprietary 

market data to individual investors. 

Based upon data from NLS distributors, 

NASDAQ believes that since its launch 

in July 2008, the NLS data has been 

viewed by over 50,000,000 investors on 

Web sites operated by Google, 

Interactive Data, and Dow Jones, among 

others. 

The text of the proposed rule change 

is below. Proposed new language is 

italicized; proposed deletions are in 

brackets. 

* * * * * 

7039. NASDAQ Last Sale Data Feeds 

(a) For a three month pilot period 

commencing on [January] April 1, 2011, 

NASDAQ shall offer two proprietary 

data feeds containing real-time last sale 

information for trades executed on 

NASDAQ or reported to the NASDAQ/ 

FINRA Trade Reporting Facility. 

(1)–(2) No change. 

(b)–(c) No change. 

* * * * * 

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 

Prior to the launch of NLS, public 

investors that wished to view market 

data to monitor their portfolios 

generally had two choices: (1) Pay for 

real-time market data or (2) use free data 

that is 15 to 20 minutes delayed. To 

increase consumer choice, NASDAQ 

proposed a pilot to offer access to realtime market data to data distributors for 

a capped fee, enabling those distributors 

to disseminate the data at no cost to 

millions of internet users and television 

viewers. NASDAQ now proposes a 

three-month extension of that pilot 

program, subject to the same fee 

structure as is applicable today.3

NLS consists of two separate ‘‘Level 1’’ 

products containing last sale activity 

within the NASDAQ market and 

reported to the jointly-operated FINRA/ 

NASDAQ TRF. First, the ‘‘NASDAQ Last 

Sale for NASDAQ’’ data product is a 

real-time data feed that provides realtime last sale information including 

execution price, volume, and time for 

executions occurring within the 

NASDAQ system as well as those 

reported to the FINRA/NASDAQ TRF. 

Second, the ‘‘NASDAQ Last Sale for 

NYSE/Amex’’ data product provides 

real-time last sale information including 

execution price, volume, and time for 

NYSE- and NYSE Amex-securities 

executions occurring within the 

NASDAQ system as well as those 

reported to the FINRA/NASDAQ TRF. 

NASDAQ established two different 

pricing models, one for clients that are 

able to maintain username/password 

entitlement systems and/or quote 

counting mechanisms to account for 

usage, and a second for those that are 

not. Firms with the ability to maintain 

username/password entitlement systems 

and/or quote counting mechanisms are 

eligible for a specified fee schedule for 

the NASDAQ Last Sale for NASDAQ 

Product and a separate fee schedule for 

the NASDAQ Last Sale for NYSE/Amex 

Product. Firms that are unable to 

maintain username/password 

entitlement systems and/or quote 

counting mechanisms also have 

multiple options for purchasing the 

NASDAQ Last Sale data. These firms 

choose between a ‘‘Unique Visitor’’ 

model for internet delivery or a 

‘‘Household’’ model for television 

delivery. Unique Visitor and Household 

populations must be reported monthly 

and must be validated by a third-party 

vendor or ratings agency approved by 

NASDAQ at NASDAQ’s sole discretion. 

In addition, to reflect the growing 

confluence between these media outlets, 

NASDAQ offered a reduction in fees 

when a single distributor distributes 


srobinson on DSKHWCL6B1PROD with NOTICES