Federal Register / Vol. 76, No. 153 / Tuesday, August 9, 2011 / Notices 48925 

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

2 17 CFR 240.19b–4. 

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. Persons, other than 

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 

August 29, 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 

applicable administrative record 

regarding this appeal no later than 

August 15, 2011. 

2. Any responsive pleading by the 

Postal Service to this Notice is due no 

later than August 15, 2011. 

3. The procedural schedule listed 

below is hereby adopted. 

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

E. Richardson 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. 

By the Commission. 

Ruth Ann Abrams, 

Acting Secretary. 

PROCEDURAL SCHEDULE

July 29, 2011 Filing of appeal. 

August 15, 

2011.

Deadline for the Postal Service to file the applicable 

administrative record in 

this appeal. 

August 15, 

2011.

Deadline for the Postal Service to file any responsive 

pleading. 

August 29, 

2011.

Deadline for notices to intervene (see 39 CFR 

3001.111(b)). 

September 2, 

2011.

Deadline for Petitioners’ 

Form 61 or initial brief in 

support of petition (see 39 

CFR 3001.115(a) and (b)). 

September 22, 

2011.

Deadline for answering brief 

in support of the Postal 

Service (see 39 CFR 

3001.115(c)). 

October 7, 

2011.

Deadline for reply briefs in 

response to answering 

briefs (see 39 CFR 

3001.115(d)). 

October 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). 

November 17, 

2011.

Expiration of the Commission’s 120-day decisional 

schedule (see 39 U.S.C. 

404(d)(5)). 

[FR Doc. 2011–20101 Filed 8–8–11; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–65024; File No. SR– 

NASDAQ–2011–102] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Introduce a 

Bulk-Quoting Interface 

August 3, 2011. 

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

Securities Exchange Act of 1934 

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

notice is hereby given that on July 27, 

2011, The NASDAQ Stock Market LLC 

(‘‘NASDAQ’’ or the ‘‘Exchange’’) 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 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 filing with the 

Commission a proposal to introduce a 

bulk-quoting interface for NASDAQ 

market makers that will help them meet 

their obligations as market makers and 

to provide liquidity to the market in an 

efficient manner. 

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 

Exchange 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. The 

Exchange 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 currently offers an orderbased market making interface on its 

options trading platform (‘‘NOM’’). 

Market makers use this interface to 

provide a two-sided quotation on NOM. 

Since it is an order-based interface, a 

two-sided quotation requires the entry 

of both a buy and a sell order. 

As part of several technological 

enhancements NASDAQ plans to 

implement on NOM, NASDAQ proposes 

to introduce a bulk-quoting interface for 

market makers in order to offer an 

additional market making interface 

choice to NASDAQ market makers. The 

proposed bulk-quoting market making 

interface will be used by market makers 

to submit and update their quotations in 

the marketplace much like the current 

order-based interface is used today. The 

bulk-quoting interface, however, allows 

market makers to provide both a bid and 

an offer in one message. In addition, the 

bulk-quoting interface allows market 

makers to bundle several quote updates 

into one bulk message. This is a useful 

feature for market makers that provide 

quotations in many different options. 

Furthermore, the bulk-quoting market 

making interface includes certain data 

elements (described below) which 


sroberts on DSK5SPTVN1PROD with NOTICES
48926 Federal Register / Vol. 76, No. 153 / Tuesday, August 9, 2011 / Notices 

3 15 U.S.C. 78f(b). 

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

5 15 U.S.C. 78s(b)(3)(A). 

6 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 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. 

7 17 CFR 240.19b–4(f)(6). 

8 17 CFR 240.19b–4(f)(6)(iii). 

9For purposes only of waiving the operative 

delay for this proposal, the Commission has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

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

provide market makers with information 

that will help them meet their 

obligations as market makers and to 

provide liquidity to the market in an 

efficient manner. NASDAQ also 

proposes to provide this data on the 

order-based market making interface 

(collectively, the ‘‘Interfaces’’). 

The data to be offered over the 

Interfaces either will be administrative 

in nature or used to attract liquidity to 

NASDAQ in response to an auction. 

NASDAQ believes the data included in 

this feed is necessary for participants 

who have written systems to interface 

with NASDAQ in the case of 

administrative messages or information 

regarding auctions and used to attract 

liquidity. Though these Interfaces are 

only available to market makers for 

quoting purposes, non-quoting firms 

will be allowed to connect to the 

Interfaces and receive the relevant 

information, but not send quotes or 

orders. 

Participants who have written 

interfaces to the NASDAQ system 

would use the administrative data to 

determine the current state of the 

trading system. For example, this data 

would show which symbols are trading 

on NASDAQ, the current state of an 

options symbol (i.e., open for trading, 

trading, halted or closed from trading). 

All of this information is vital to a 

participant’s quoting application and by 

including this information on the 

Interface used for quoting, participants 

can streamline their respective system 

architectures. 

NASDAQ holds an opening auction as 

an efficient and robust mechanism to 

start each trading day. Additionally, 

NASDAQ uses an auction to resume 

trading after a trading halt. During these 

auction events, NASDAQ advertises the 

liquidity it has available for execution. 

This auction information is available on 

other data feeds and is made available 

to all exchange participants. The 

information being added to these market 

making Interfaces is for convenience 

purposes so that market participants 

utilizing them have an additional means 

to access the information directly 

impacting their quoting behavior and 

are not required to take other feeds 

simply in order to have access to these 

data elements. 

A participant’s quoting application 

will then be able to receive these 

notifications over the same Interface by 

which it sends quotes to NASDAQ and 

could then use the data to respond to 

auctions quickly and efficiently. This 

data is not disseminated as a quote to 

the market because it represents interest 

that is not immediately executable, but 

rather interest that is currently gathering 

in an auction. 

Data proposed for these interfaces will 

initially include the following: 

(1) Options Auction Notifications 

(e.g., opening imbalance, imbalance 

after a halt); 

(2) Options Symbol Directory 

Messages; 

(3) System Event Messages (e.g., start 

of messages, start of system hours, start 

of quoting, start of opening); and 

(4) Option Trading Action Messages 

(e.g., halts, resumes). 

2. Statutory Basis 

NASDAQ believes that its proposal is 

consistent with Section 6(b) of the Act 3

in general, and furthers the objectives of 

Section 6(b)(5) of the Act 4 in particular, 

in that it is designed to promote just and 

equitable principles of trade, to remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system, and, in 

general, to protect investors and the 

public interest. 

NASDAQ believes that this proposal 

is in keeping with those principles by 

protecting investors and the public 

interest, as well as promoting just and 

equitable principles of trade, through 

the addition of a new market making 

interface option for NASDAQ market 

makers, which by aiding market makers 

in their market making activities will 

help to enhance market liquidity for 

investors. Additionally, permitting the 

Interfaces to include data elements that 

are administrative in nature or that are 

used to attract liquidity to NASDAQ in 

response to the opening auction, serves 

to remove impediments to and acts to 

perfect the mechanism of a free and 

open market and a national market. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

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 19(b)(3)(A) 

of the Act 5 and Rule 19b–4(f)(6) 

thereunder.6

A proposed rule change filed under 

Rule 19b–4(f)(6) 7 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),8 the Commission 

may 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 proposal may become operative 

immediately upon filing. The Exchange 

notes that the proposed rule change is 

a non-controversial system change to 

data and would not affect the execution 

of trades. The Exchange also notes that 

it is important to its internal technology 

roll-out to be able to have this proposed 

change in place by August 15, 2011, in 

order for other technological plans to be 

implemented, and that prompt 

implementation would extend the 

benefits and new features to users more 

quickly. For these reasons, the 

Commission believes that waiving the 

30-day operative delay is consistent 

with the protection of investors and the 

public interest, and designates the 

proposed rule change to be operative 

upon filing with the Commission.9

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 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 

to determine whether the proposed rule 

should be approved or disapproved. 


sroberts on DSK5SPTVN1PROD with NOTICES
Federal Register / Vol. 76, No. 153 / Tuesday, August 9, 2011 / Notices 48927 

10 17 CFR 200.30–3(a)(12). 

1Applicants request that any relief granted 

pursuant to the application also apply to (a) All 

other existing or future open-end management 

investment companies or series thereof that (i) are 

advised by the Adviser or any entity controlling, 

controlled by or under common control with the 

Adviser or its successors (each such entity included 

in the term ‘‘Adviser’’), (ii) are registered under the 

Act, (iii) use the manager of managers structure (as 

described in the application), and (iv) comply with 

the terms and conditions in the application (such 

companies or series included in the term ‘‘Funds’’); 

and (b) the Adviser. Each existing entity that 

currently intends to rely on the requested order is 

named as an Applicant. Any existing or future 

entity that relies on the order in the future will do 

so only in accordance with the terms and 

conditions in the application. If the name of any 

Fund relying on the requested relief contains the 

name of a Subadviser (defined below), the name 

‘‘RidgeWorth’’ or other name being used by the 

Adviser will precede the name of the Subadviser. 

2The Board is also the board of each individual 

Fund. 

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–2011–102 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–2011–102. 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, 100 F Street, NE., 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 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; 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–2011–102 and should be 

submitted on or before August 30, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–20100 Filed 8–8–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

29743; File No. 812–13860] 

RidgeWorth Funds and RidgeWorth 

Capital Management, Inc.; Notice of 

Application 

August 3, 2011. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice of an application under 

section 6(c) of the Investment Company 

Act of 1940 (‘‘Act’’) for an exemption 

from section 15(a) of the Act and rule 

18f–2 under the Act. 

SUMMARY OF THE APPLICATION: 

Applicants request an order that would 

permit them to enter into and materially 

amend subadvisory agreements without 

shareholder approval. 

APPLICANTS: RidgeWorth Funds (the 

‘‘Trust’’) and RidgeWorth Capital 

Management, Inc. (the ‘‘Adviser’’). 

DATES: Filing Dates: The application was 

filed on January 20, 2011 and amended 

on June 29, 2011. 

HEARING OR NOTIFICATION OF HEARING: 

An order granting the application will 

be issued unless the Commission orders 

a hearing. Interested persons may 

request a hearing by writing to the 

Commission’s Secretary and serving 

applicants with a copy of the request, 

personally or by mail. Hearing requests 

should be received by the Commission 

by 5:30 p.m. on August 29, 2011 and 

should be accompanied by proof of 

service on applicants, in the form of an 

affidavit or, for lawyers, a certificate of 

service. Hearing requests should state 

the nature of the writer’s interest, the 

reason for the request, and the issues 

contested. Persons who wish to be 

notified of a hearing may request 

notification by writing to the 

Commission’s Secretary. 

ADDRESSES: Secretary, U.S. Securities 

and Exchange Commission, 100 F 

Street, NE., Washington, DC 20549– 

1090. Applicants, 3333 Piedmont Road, 

NE., Suite 1500, Atlanta, GA 30305– 

1740. 

FOR FURTHER INFORMATION CONTACT: 

Deepak T. Pai, Senior Counsel, at (202) 

551–6876, or Dalia Osman Blass, Branch 

Chief, at (202) 551–6821 (Division of 

Investment Management, Office of 

Investment Company Regulation). 

SUPPLEMENTARY INFORMATION: The 

following is a summary of the 

application. The complete application 

may be obtained via the Commission’s 

Web site by searching for the file 

number, or an applicant using the 

Company name box, at http:// 

www.sec.gov/search/search.htm or by 

calling (202) 551–8090. 

Applicants’ Representations 

1. The Trust is a Massachusetts 

business trust registered under the Act 

as an open-end management investment 

company and offers multiple series 

(each a ‘‘Fund’’).1

2. The Adviser, a Georgia corporation 

with its principal office in Atlanta, 

serves as investment adviser to the 

Funds and is registered under the 

Investment Advisers Act of 1940 (the 

‘‘Advisers Act’’) pursuant to an 

investment advisory agreement with the 

Trust (‘‘Advisory Agreement’’). The 

Adviser is a wholly owned subsidiary of 

SunTrust Banks, Inc. The Advisory 

Agreement was approved by the board 

of trustees of the Trust (‘‘Board’’),2, 

including a majority of the trustees who 

are not ‘‘interested persons’’ (as defined 

in section 2(a)(19) of the Act) of the 

Trust or the Adviser (the ‘‘Independent 

Trustees’’) and was approved by the 

initial shareholder of each Fund in the 

manner required by sections 15(a) and 

(c) of the Act and rule 18f–2 thereunder. 

With respect to new Funds offered in 

the future, the Advisory Agreement will 

be approved by the initial shareholder 

of the Fund in the manner required by 

sections 15(a) and (c) of the Act and rule 

18f–2 thereunder. Applicants are not 

seeking any exemptions from the 

provisions of the Act with respect to the 


sroberts on DSK5SPTVN1PROD with NOTICES