79056 Federal Register / Vol. 75, No. 242 / Friday, December 17, 2010 / Notices 

2. Comments by interested persons in 

these proceedings are due no later than 

December 21, 2010. 

3. Pursuant to 39 U.S.C. 505, Paul L. 

Harrington is appointed to serve as the 

officer of the Commission (Public 

Representative) to represent the 

interests of the general public in these 

proceedings. 

4. The Secretary shall arrange for 

publication of this order in the Federal 

Register. 

By the Commission. 

Shoshana M. Grove, 

Secretary. 

[FR Doc. 2010–31671 Filed 12–16–10; 8:45 am] 

BILLING CODE 7710–FW–P 

RAILROAD RETIREMENT BOARD 

Proposed Data Collection(s) Available 

for Public Comment and 

Recommendations 

SUMMARY: In accordance with the 

requirement of Section 3506 (c)(2)(A) of 

the Paperwork Reduction Act of 1995 

which provides opportunity for public 

comment on new or revised data 

collections, the Railroad Retirement 

Board (RRB) will publish periodic 

summaries of proposed data collections. 

Comments are invited on: (a) Whether 

the proposed information collections are 

necessary for the proper performance of 

the functions of the agency, including 

whether the information has practical 

utility; (b) the accuracy of the RRB’s 

estimate of the burden for the collection 

of the information; (c) ways to enhance 

the quality, utility, and clarity of the 

information to be collected; and (d) 

ways to minimize the burden related to 

the collection of information on 

respondents, including the use of 

automated collection techniques or 

other forms of information technology. 

1. Title and Purpose of Information 

Collection 

Representative Payee Parental 

Custody Monitoring: OMB 3220–0176. 

Under Section 12 (a) of the Railroad 

Retirement Act (RRA), the Railroad 

Retirement Board (RRB) is authorized to 

select, make payments to, and to 

conduct transactions with, a 

beneficiary’s relative or some other 

person willing to act on behalf of the 

beneficiary as a representative payee. 

The RRB is responsible for determining 

if direct payment to the beneficiary or 

payment to a representative payee 

would best serve the beneficiary’s 

interest. Inherent in the RRB’s 

authorization to select a representative 

payee is the responsibility to monitor 

the payee to assure that the beneficiary’s 

interests are protected. The RRB utilizes 

Form G–99d, Parental Custody Report, 

to obtain information needed to verify 

that a parent-for-child representative 

payee still has custody of the child. One 

response is required from each 

respondent. The RRB proposes no 

changes to Form G–99d. 

The estimated annual respondent 

burden is as follows: 

Form #(s) Annual 

responses Time (min) Burden (hrs) 

G–99d .......................................................................................................................................... 1,030 5 86 

2. Title and Purpose of Information 

Collection 

Report of Medicaid State Office on 

Beneficiary’s Buy-In Status; OMB 3220– 

0185. 

Under Section 7(d) of the Railroad 

Retirement Act, the RRB administers the 

Medicare program for persons covered 

by the railroad retirement system. Under 

Section 1843 of the Social Security Act, 

states may enter into ‘‘buy-in 

agreements’’ with the Secretary of 

Health and Human Services for the 

purpose of enrolling certain groups of 

low-income individuals under the 

Medicare medical insurance (Part B) 

program and paying the premiums for 

their insurance coverage. Generally, 

these individuals are categorically 

needy under Medicaid and meet the 

eligibility requirements for Medicare 

Part B. States can also include in their 

buy-in agreements, individuals who are 

eligible for medical assistance only. The 

RRB uses Form RL–380–F, Report to 

State Medicaid Office, to obtain 

information needed to determine if 

certain railroad beneficiaries are entitled 

to receive Supplementary Medical 

Insurance program coverage under a 

state buy-in agreement in states in 

which they reside. Completion of Form 

RL–380–F is voluntary. One response is 

received from each respondent. The 

RRB proposes no changes to Form RL– 

380–F. 

The estimated annual respondent 

burden is as follows: 

Form #(s) Annual 

responses Time (min) Burden (hrs) 

RL–380–F .................................................................................................................................... 600 10 100 

Additional Information or Comments: 

To request more information or to 

obtain a copy of the information 

collection justification, forms, and/or 

supporting material, please call the RRB 

Clearance Officer at (312) 751–3363 or 

send an e-mail request to 

Charles.Mierzwa@RRB.GOV. Comments 

regarding the information collection 

should be addressed to Patricia A. 

Henaghan, Railroad Retirement Board, 

844 North Rush Street, Chicago, Illinois 

60611–2092 or send an e-mail to 

Patricia.Henaghan@RRB.GOV. Written 

comments should be received within 60 

days of this notice. 

Charles Mierzwa, 

Clearance Officer. 

[FR Doc. 2010–31795 Filed 12–16–10; 8:45 am] 

BILLING CODE 7905–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63530; File No. SR– 

NASDAQ–2010–164] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change to Provide an 

Exemption from the Thirty-Day Written 

Notice Requirement of Rule 7018(i)(3) 

December 10, 2010. 

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

Securities Exchange Act of 1934 


emcdonald on DSK2BSOYB1PROD with NOTICES
Federal Register / Vol. 75, No. 242 / Friday, December 17, 2010 / Notices 79057 

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

2 17 CFR 240.19b–4. 

3To be designated as a ‘‘Qualified Security,’’ Rule 

7018(i)(1) requires that the security is an exchangetraded fund or index-linked security listed on 

Nasdaq pursuant to Nasdaq Rules 5705, 5710, or 

5720, and that it has at least one Designated 

Liquidity Provider. 

4Securities Exchange Act Release No. 63040 

(October 5, 2010), 75 FR 63238 (October 14, 2010) 

(SR–NASDAQ–2010–128). 

5Rule 4620(a). 

6 Id. 

7Rule 7018(i)(2). 

8 15 U.S.C. 78f. 

9 15 U.S.C. 78f(b)(5). 

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

notice is hereby given that on December 

9, 2010, The NASDAQ Stock Market 

LLC (‘‘NASDAQ’’) 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 NASDAQ. 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 the Substance 

of the Proposed Rule Change 

NASDAQ is proposing to modify the 

thirty-day written notice requirement 

applicable to a member firm seeking to 

withdraw as Designated Liquidity 

Provider. 

The text of the proposed rule change 

is below. Proposed new language is 

italicized. 

7018. Nasdaq Market Center Order 

Execution and Routing 

(a)–(h) No change. 

(i) Notwithstanding the foregoing, the 

following charges shall apply to 

transactions in a Qualified Security by 

one of its Designated Liquidity 

Providers: 

Charge to Designated Liquidity Provider entering Order 

that executes 

in the Nasdaq 

Market Center 

or attempts to 

execute in the 

Nasdaq Market 

Center prior to 

routing:.

$0.003 per share executed for securities 

priced at $1 or more 

per share (For securities priced at less than 

$1 per share, the normal execution fee under 

7018(a) will apply). 

Credit to Designated Liquidity Provider 

providing displayed liquidity 

through the 

Nasdaq Market 

Center:.

$0.004 per share executed (or $0, in the 

case of executions 

against Quotes/Orders 

in the Nasdaq Market 

Center at less than 

$1.00 per share), up to 

10 million shares average daily volume. 

Normal credits under 

7018(a) apply to shares 

greater than 10 million 

average daily volume 

and nondisplayed liquidity. 

For purposes of this paragraph: 

(1)–(2) No change. 

(3) If a DLP does not meet the 

performance measurements for a given 

month, fees and credits will revert to the 

normal schedule under 7018(a). If a DLP 

does not meet the stated performance 

measurements for 3 out of the past 4 

months, the DLP is subject to forfeit of 

DLP status for that instrument, at 

NASDAQ’s discretion. A DLP must 

provide 30 days written notice if it 

wishes to withdraw its registration in a 

Qualified Security, unless it is also 

withdrawing as a market maker in the 

Qualified Security. 

(j) 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, 

NASDAQ 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 these 

statements may be examined at the 

places specified in Item IV below. 

NASDAQ has prepared summaries, set 

forth in Sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

NASDAQ is proposing to modify the 

thirty-day written notice requirement 

applicable to a member firm seeking to 

withdraw as Designated Liquidity 

Provider (‘‘DLP’’) in a Qualified 

Security 3 to exempt member firms that 

are also withdrawing as a market maker 

in the Qualified Security. NASDAQ 

recently amended Rule 7018(i) to 

include new subparagraph (3), 

discussing DLP performance 

requirements and adopting a 30 day 

written notice requirement of a member 

firm’s desire to withdraw as a DLP in a 

Qualified Security.4 Specifically, 

NASDAQ described the consequences of 

failing to meet the DLP minimum 

performance criteria described in Rule 

7018(i)(2) and adopted a thirty-day prior 

notice obligation on DLPs seeking to 

withdraw registration in a Qualified 

Security. The thirty-day notice 

requirement was adopted to ensure that 

NASDAQ has adequate time to assign a 

new DLP, thus avoiding any disruption 

in market quality that may be caused by 

the absence of an assigned DLP. 

NASDAQ is proposing an exemption 

to the thirty-day written notice 

requirement limited to member firms 

seeking to withdraw both as a DLP and 

market maker in a Qualified Security. 

NASDAQ rules do not specify or require 

a minimum time of prior notice of a 

member firm’s desire to withdraw as a 

market maker in a particular security.5

As such, a member firm may withdraw 

from any given security the same day as 

notice is provided to NASDAQ. A 

member firm is, however, restricted 

from making a market in any security 

that it has withdrawn from for 20 days.6

To be a DLP, a member firm must be a 

registered market maker in the Qualified 

Security.7 Therefore, if a member firm 

withdraws its registration as a market 

maker in a Qualified Security, it is not 

eligible to act as a DLP. 

NASDAQ adopted the thirty-day 

written notice of withdrawal 

requirement so that it would have 

adequate time to assign a new DLP as a 

replacement of the withdrawing 

member firm. Typically, a member firm 

would continue as a market maker in 

the security that it was withdrawing its 

DLP designation, and thus was able to 

avail itself of the benefits of making a 

market in the Qualified Security. 

NASDAQ believes that, in cases of 

complete withdrawal from market 

making in a Qualified Security, the 

thirty-day written notice of withdrawal 

requirement should not apply, since the 

member firm is not seeking to continue 

availing itself of the benefit of making 

a market in the security, but rather is 

completely withdrawing from making a 

market in the security. Such member 

firms have no intent to make markets in 

the security and are precluded from 

becoming a market maker in the security 

for 20 days. Accordingly, NASDAQ does 

not believe that compelling a member 

firm to participate as a market maker 

and DLP in a security during the thirtyday notice period is beneficial to the 

member firm or the quality of the 

market in the Qualified Security. 

2. Statutory Basis 

NASDAQ believes the proposed rule 

change is consistent with the provisions 

of Section 6 of the Act,8 in general and 

with Section 6(b)(5) of the Act,9 in 

particular, which requires that the rules 

of an exchange be designed to prevent 

fraudulent and manipulative acts and 


emcdonald on DSK2BSOYB1PROD with NOTICES
79058 Federal Register / Vol. 75, No. 242 / Friday, December 17, 2010 / Notices 

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

11 17 CFR 240.19b–4(f)(6). 

12 17 CFR 240.19b–4(f)(6)(iii). 

13For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule change’s impact on efficiency, 

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

14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

practices, promote just and equitable 

principles of trade, foster cooperation 

and coordination with persons engaged 

in regulating, clearing, settling, 

processing information with respect to, 

and facilitating transactions in 

securities, remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system, and, in general, protect 

investors and the public interest. 

NASDAQ believes that the proposed 

rule change is consistent with these 

requirements because exempting 

member firms that are entirely 

withdrawing as a market maker in a 

Qualified Security from the thirty-day 

written notice requirement of Rule 

7018(i)(3) eliminates an inconsistency 

in the current rules concerning the 

notice a market maker is required to 

provide NASDAQ when it determines to 

withdraw from making a market in 

Qualified Securities. NASDAQ believes 

a member firm should be able withdraw 

from making a market in any security 

under the terms of Rule 4620(a) and not 

be subject to an additional notice 

requirement that was designed to apply 

to member firms that would continue to 

participate as a registered market maker 

in the security. Further, NASDAQ does 

not believe that compelling a member 

firm wishing to withdraw as a market 

maker in a Qualified Security to 

participate as a market maker and DLP 

in that security during the thirty-day 

notice period is beneficial to the 

member firm or the quality of the 

market in the Qualified Security. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

NASDAQ does not believe that the 

proposed rule change will result in any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, as amended. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor 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)10 of the Act and Rule 19b– 

4(f)(6) thereunder.11 At any time within 

60 days of the filing of the proposed rule 

change, the Commission may summarily 

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. 

NASDAQ has asked that the 

Commission waive the 30-day preoperative waiting period contained in 

Rule 19b–4(f)(6)(iii).12 NASDAQ has 

requested such waiver to quickly cure 

an unintended inconsistency in the 

notice requirements for withdrawing as 

a market maker in certain securities. 

Based on NASDAQ’s representations 

that the proposed rule change is noncontroversial and that no novel issues 

are presented in this proposed rule 

change, the Commission sees no reason 

to delay implementation of the 

proposed rule change. The Commission 

believes it is consistent with the 

protection of investors and the public 

interest to waive the 30-day operative 

delay, and hereby grants such waiver.13

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 e-mail to rulecomments@sec.gov. Please include File 

Number SR–NASDAQ–2010–164 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–NASDAQ–2010–164. This 

file number should be included on the 

subject line if e-mail 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 Web site 

(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 Web site viewing and 

printing in the Commission’s Public 

Reference Room on official business 

days between the hours of 10 a.m. and 

3 p.m. Copies of such filing also will be 

available for inspection and copying at 

the principal offices of the Exchange. 

All comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–NASDAQ–2010–164, and 

should be submitted on or before 

January 7, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–31682 Filed 12–16–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63531; File No. SR–ISE– 

2010–109] 

Self-Regulatory Organizations; 

International Securities Exchange, 

LLC; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change Relating to a Fee Waiver 

December 10, 2010. 

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 November 

30, 2010, the International Securities 

Exchange, LLC (the ‘‘Exchange’’ or the 

‘‘ISE’’) 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 selfregulatory organization. The 

Commission is publishing this notice to 


emcdonald on DSK2BSOYB1PROD with NOTICES