Federal Register / Vol. 77, No. 71 / Thursday, April 12, 2012 / Notices 22053 

84 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4 . 

3A Member is any registered broker or dealer, or 

any person associated with a registered broker or 

dealer, that has been admitted to membership in the 

Exchange. 

4This occurs when two orders presented to the 

Exchange from the same Member (i.e., MPID) are 

presented separately and not in a paired manner, 

but nonetheless inadvertently match with one 

another. Members are advised to consult Rule 12.2 

respecting fictitious trading. 

advantages or disadvantages would such 

disclosure provide? Please explain. 

21. Would it be helpful to investors to 

have public notice of an MQP 

Company’s participation in the Program 

through means other than on the 

Exchange’s Web site, such as in the 

MQP Company’s periodic reports to the 

Commission, on the MQP Company’s 

Web site, or through a ticker symbol 

identifier on the consolidated tape? 

Why or why not? 

22. What are commenters’ views on 

whether the proposed disclosures are 

sufficient to enable all investors, even 

less sophisticated investors, to 

understand the potential impact of the 

proposed MQP on the market quality of 

an MQP Security, including that an 

MQP Company’s participation in the 

Program is voluntary and subject to 

withdrawal, or that the MQP Security 

may become ineligible for the Program 

if its trading volume reaches sufficiently 

high levels? 

23. Should the Exchange be required 

to publicly (and anonymously) disclose 

statistics on the performance of MQP 

Market Makers? Would such disclosure 

provide meaningful information to 

investors (e.g., would such disclosure 

provide investors the opportunity to 

assess how much perceived liquidity is 

being provided by MQP Market Makers, 

as opposed to liquidity provided by 

market makers and other market 

participants who are not paid an MQP 

Credit)? If so, what information should 

be disclosed and why? If not, why not? 

What advantages or disadvantages 

would such disclosure provide? Please 

explain. 

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 email to rulecomments@sec.gov. Please include File 

Number SR–NASDAQ–2012–043 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–2012–043. This 

file number should be included on the 

subject line if email 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 Section, 100 F Street NE., 

Washington, DC 20549–1090, on official 

business days between 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–2012–043 and 

should be submitted on or before May 

3, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.84

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–8789 Filed 4–11–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66762; File No. SR–EDGX– 

2012–12] 

Self-Regulatory Organizations; EDGX 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to Amendments 

to the EDGX Exchange, Inc. Fee 

Schedule 

April 6, 2012. 

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 30, 

2012 the EDGX Exchange, Inc. (the 

‘‘Exchange’’ or the ‘‘EDGX’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which items 

have been prepared by the selfregulatory organization. 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 

The Exchange proposes to amend its 

fees and rebates applicable to Members 3

of the Exchange pursuant to EDGX Rule 

15.1(a) and (c). All of the changes 

described herein are applicable to EDGX 

Members. The text of the proposed rule 

change is available on the Exchange’s 

Internet Web site at http:// 

www.directedge.com, at the Exchange’s 

principal office, and at the Public 

Reference Room of the Commission. 

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 these statements may be examined at 

the places specified in Item IV below. 

The self-regulatory organization 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to make a 

technical amendment to the description 

of the Mega and Mini Tape B Tiers in 

footnote 1 to clarify that these rebates 

($0.0034 per share and $0.0030 per 

share, respectively) are provided for 

liquidity added on EDGX in Tape B 

Securities only. 

Flag E represents a customer 

internalization 4 charge per side if a 

Member inadvertently matches with 

itself. In order to provide additional 

transparency to Members, Flag E is 

proposed to be bifurcated into two flags 

and re-named to state ‘‘Internalization’’ 

instead of ‘‘Customer Internalization’’: 

Flag EA (internalization on the adding 

liquidity side) and Flag ER 

(internalization on the removing 

mstockstill on DSK4VPTVN1PROD with NOTICES

22054 Federal Register / Vol. 77, No. 71 / Thursday, April 12, 2012 / Notices 

5The Exchange notes that the vast majority of 

posted liquidity is displayed liquidity (Flags B, V, 

Y, 3, or 4) and the volume posted from hidden 

liquidity (Flags HA and MM) is incidental. 

6The Exchange notes that it counts only the first 

partial or complete execution resulting from an 

order if it is filled in parts. So, if a 1,000 share order 

results in three partial executions of 400 shares, 300 

shares, and 300 shares, it counts only the first 

execution of 400 shares toward the denominator. 

Thus, the Exchange counts all fills against an order 

as one trade for purposes of ‘‘total executions.’’ 

7See Exchange Rule 11.9(b)(3). 

8See Securities Exchange Act Release No. 66558 

(March 9, 2012), 77 FR 15432 (March 15, 2012) (SR– 

EDGX–2012–06). 

9 15 U.S.C. 78f. 

10 15 U.S.C. 78f(b)(4). 

11 In SR–EDGX–2011–13 (April 29, 2011), the 

Exchange represented that it ‘‘will work promptly 

to ensure that the internalization fee is no more 

favorable than each prevailing maker/taker spread.’’ 

liquidity side). No change is proposed to 

the standard rate of $0.00035 per share. 

A conforming amendment is proposed 

to be made to the first sentence of 

footnote 11 to make clear that either 

Flag EA or ER could be yielded for 

internalization. In addition, the last 

sentence of footnote 11 on the fee 

schedule provides that ‘‘if a Member 

internalizes more than 4% of their ADV 

on EDGX (added, removed, and routed 

liquidity) and the Member, at a 

minimum, meets the criteria for the 

Mega Tier rebate of $0.0032 per share in 

footnote 1, then the Member’s receives 

a rebate of $0.00015 per share.’’ This tier 

is proposed to be amended to state that 

in the latter situation, a Member would 

receive the applicable rebate in footnote 

1 of the fee schedule for adding 

liquidity or would be charged the 

applicable removal rate in footnote 1 or 

12. This enables the Member to 

ascertain if they are on the ‘‘adding 

liquidity side’’ or ‘‘removing liquidity 

side’’ for purposes of internalization. 

The Exchange proposes to add 

footnote 13 to its fee schedule to 

establish a new Investor Tier under 

which a Member can qualify for a rebate 

of $0.0030 per share if they meet the 

following criteria: (i) On a daily basis, 

measured monthly, posts an ADV of at 

least 8 million shares on EDGX, where 

added flags are defined as B, HA, V, Y, 

MM, 3, or 4 (ii) have an ‘‘added 

liquidity’’ to ‘‘removed liquidity’’ ratio 

of at least 70% where added flags are 

defined as B, HA, V, Y, MM, 3, or 4 5

and removal flags are defined as MT, N, 

W, PI, or 6; and (iii) have a message-totrade ratio of less than 4:1. The 

Exchange notes that the message-totrade ratio is calculated by including 

total messages as the numerator (orders, 

cancels, and cancel/replace messages) 

and dividing it by total executions.6 The 

Exchange also notes that any cancel/ 

replace message, regardless of whether 

it is a partial cancel, is considered a new 

order. 

The Exchange proposes to amend the 

description of Flag K in reference to 

orders routed to the PSX to include the 

ROUE 7 routing strategy in addition to 

the ROUC routing strategy. The 

Exchange proposes to continue to assess 

a charge of $0.0025 per share. 

Similarly, the Exchange proposes to 

amend the description of Flag BY in 

reference to orders routed to the BATS 

BYX Exchange to include the ROUE 

routing strategy in addition to the ROUC 

and ROBY routing strategies. The 

Exchange proposes to continue to offer 

a rebate of $0.0002 per share. 

The Exchange proposes to make 

technical amendments to the fee 

schedule to: (i) substitute the phrase 

‘‘are defined as’’ for ‘‘include’’ in 

footnote 12; (ii) replace Flag H with Flag 

HA in footnote 12 since Flag HA 

replaced Flag H effective March 1, 

2012; 8 and (iii) remove the word 

‘‘customer’’ in the description of Flags 

5 and footnote 11 so that it now would 

read ‘‘Internalization.’’ 

The Exchange proposes to implement 

these amendments to its fee schedule on 

April 1, 2012. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule changes are consistent 

with the objectives of Section 6 of the 

Act,9 in general, and furthers the 

objectives of Section 6(b)(4),10 in 

particular, as it is designed to provide 

for the equitable allocation of reasonable 

dues, fees and other charges among its 

members and other persons using its 

facilities. 

The Exchange believes that the 

proposed technical amendment to the 

Mini and Mega Tape B Tiers adds 

additional transparency to its fee 

schedule for investors as it clarifies that 

the tiered rate is only applicable as to 

Tape B securities. The Exchange 

believes that the proposed technical 

amendment to delete Flag E and replace 

it with Flags EA and ER promotes 

market transparency and improves 

investor protection by adding additional 

transparency to its fee schedule by more 

precisely delineating for Members 

whether they are ‘‘adders of liquidity’’ 

or ‘‘removers of liquidity’’ for purposes 

of paying the internalization fee. The 

Exchange also believes that the proposal 

is non-discriminatory because it applies 

to all Members. 

Finally, the internalization rebate is 

equitable in that it is in line with the 

EDGX fee structure 11 which currently 

has a maker/taker spread of $0.0006 per 

share (the standard rebate to add 

liquidity on EDGX is $0.0023 per share, 

while the standard fee to remove 

liquidity is $0.0029 per share). EDGX 

also has a variety of tiered rebates 

ranging from $0.0023–$0.0034 per 

share, which makes its maker/taker 

spreads range from $.0006 (standard 

add—standard removal rate), –$.0001 

(standard removal rate—Super Tier 

rebate), –$0.0002 (standard removal 

rate—Ultra Tier rebate), –$0.0003 

(standard removal rate—Mega Tier 

rebate of $0.0032), and –$.0005 

(standard removal rate—Mega Tier 

rebate of $0.0034 per share). As a result 

of the internalization rebate, Members 

who internalized and met the criteria to 

satisfy the Mega Tier and the volume 

threshold of 4% of their ADV on EDGX 

would be rebated $0.00032 per share per 

side of an execution (the applicable 

rebate in footnote 1 for adding liquidity) 

and be charged $0.0029 per share per 

side (the applicable removal rate in 

footnote 1, in this case). This makes the 

total net rebate equal $0.0003 per share, 

which would be an internalization rate 

that is no more favorable than the 

prevailing maker/taker spread by 

satisfying the Mega Tier rebate of 

$0.0032 ($–0.0003). 

The Exchange believes that the 

Investor Tier is designed to provide for 

the equitable allocation of reasonable 

dues, fees and other charges among its 

Members and other persons using its 

facilities as it rewards Members with 

order flow characteristics that 

contribute meaningfully to price 

discovery on the Exchange. In other 

words, Members that primarily post 

liquidity and provide longer duration 

orders are more valuable Members to 

the Exchange and the marketplace in 

terms of liquidity provision. The EDGX 

Investor Tier also encourages Members 

to primarily add liquidity in order to 

satisfy the ‘‘added liquidity’’ to 

‘‘removed liquidity’’ ratio of at least 

70%. Such increased volume increases 

potential revenue to the Exchange, and 

would allow the Exchange to spread its 

administrative and infrastructure costs 

over a greater number of shares, leading 

to lower per share costs. These lower 

per share costs would allow the 

Exchange to pass on the savings to 

Members in the form of higher rebates. 

The increased liquidity also benefits all 

investors by deepening EDGX’s liquidity 

pool, offering additional flexibility for 

all investors to enjoy cost savings, 

supporting the quality of price 

discovery, promoting market 

transparency and improving investor 

protection. Volume-based rebates such 

as the ones proposed herein have been 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 77, No. 71 / Thursday, April 12, 2012 / Notices 22055 

12See NASDAQ Rule 7014. Similarly, NASDAQ 

established an Investor Support Program (‘‘ISP’’) 

targeting retail and institutional investor orders 

where firms receive a higher rebate if they meet all 

of the following criteria: 1) Add at least 10 million 

shares of liquidity per day via ISP-designated ports; 

2) Maintain a ratio of orders-to-orders executed of 

less than 10 to 1 (counting only liquidity-providing 

orders and excluding certain order types) on ISPdesignated ports; 3) Exceed the firm’s August 2010/ 

2011 ‘‘baseline’’ volume of liquidity added across 

all the firm’s ports. For a detailed description of the 

Investor Support Program as originally 

implemented, see Securities Exchange Act Release 

No. 63270 (November 8, 2010), 75 FR 69489 

(November 12, 2010) (NASDAQ–2010–141) (notice 

of filing and immediate effectiveness) (the ‘‘ISP 

Filing’’). See also Securities Exchange Act Release 

Nos. 63414 (December 2, 2010), 75 FR 76505 

(December 8, 2010) (NASDAQ–2010–153) (notice of 

filing and immediate effectiveness); 63628 (January 

3, 2011), 76 FR 1201 (January 7, 2011) (NASDAQ– 

2010–154) (notice of filing and immediate 

effectiveness); 63891 (February 11, 2011), 76 FR 

9384 (February 17, 2011) (NASDAQ–2011–022) 

(notice of filing and immediate effectiveness); and 

64050 (March 8, 2011), 76 FR 13694 March 14, 

2011) (SR–NASDAQ–2011–034). See also Securities 

Exchange Act Release No. 65717 (November 9, 

2011), 76 FR 70784 (November 15, 2011) (SR– 

NASDAQ–2011–150). 

13NYSE Arca also implemented investor tiers 

where they allow Members to earn a credit of 

$0.0032 per share for executed orders that provide 

liquidity to the Book for Tape A, Tape B and Tape 

C securities when they meet all of the following 

criteria on a monthly basis: 1) Maintain a ratio of 

cancelled orders to total orders of less than 30%; 

2) Maintain a ratio of executed liquidity adding 

volume to total volume of greater than 80%; and 3) 

Firms must add liquidity that represents 0.45% or 

more of the total U.S. average daily consolidated 

share volume (‘‘ADV’’) per month (volume on days 

when the market closes early is excluded from the 

calculation of ADV). See Securities Exchange Act 

Release No. 64593 (June 3, 2011), 76 FR 33380 (June 

8, 2011) (SR–NYSEArca–2011–34); Securities 

Exchange Act Release No. 66115 (January 6, 2012), 

77 FR 1969 (January 12, 2012) (SR–NYSEArca– 

2011–101) (notice of filing and immediate 

effectiveness of a proposed rule change replacing 

numerical thresholds with percentage thresholds 

for the Investor Tiers’ volume requirements). See 

also Securities Exchange Act Release No. 66378 

(February 10, 2012), 77 FR 9278 (February 16, 2012) 

(SR–NYSEArca–2012–13). 

14See Securities Exchange Act Release No. 64593 

(June 3, 2011), 76 FR 33380 (June 8, 2011) (SR– 

NYSEArca–2011–34). 

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

16 17 CFR 19b–4(f)(2) [sic]. 

widely adopted in the cash equities 

markets, and are equitable because they 

are open to all Members on an equal 

basis and provide discounts that are 

reasonably related to the value to an 

exchange’s market quality associated 

with higher levels of market activity, 

such as higher levels of liquidity 

provision and introduction of higher 

volumes of orders into the price and 

volume discovery processes. 

In addition, the rebate is also 

reasonable in that other exchanges 

likewise employ similar pricing 

mechanisms. For example, NASDAQ 12

and NYSE Arca 13 offer investor support 

programs and investor tiers, 

respectively. Such programs reward 

liquidity provision attributes, encourage 

price discovery and market 

transparency by encouraging growth in 

liquidity over a defined baseline, and 

encourage a low cancellation rate on 

liquidity-providing orders. EDGX’s 

Investor Tier is similar to NASDAQ’s/ 

NYSE Arca’s programs in they both 

encourage efficient liquidity provision. 

It is similar to NASDAQ’s Investor 

Support Program in that for NASDAQ 

members to qualify, among a firm’s 

liquidity-providing orders, it must 

maintain a ratio of ‘‘orders’’ to ‘‘orders 

executed’’ of less than ten to one (i.e., 

at least one out of every ten liquidityproviding orders submitted must be 

executed rather than cancelled). 

Similarly, NYSE Arca’s investor tiers 

require its members to maintain a ratio 

of cancelled orders to total orders of less 

than 30% and maintain a ratio of 

executed liquidity adding volume to 

total volume of greater than 80%, among 

other criteria. EDGX’s Investor Tier is 

similar to NYSE Arca’s investor tiers in 

that like NYSE Arca’s investor tiers, the 

Exchange’s goal is to incentivize 

Members to maintain low cancellation 

rates and provide liquidity that supports 

the quality of price discovery and 

promotes market transparency. In 

addition, similar to the investor tiers of 

NYSE Arca, EDGX’s Investor Tier 

‘‘reward[s] providers whose orders stay 

on the [b]ook and do not rapidly cancel 

a large portion of their orders placed, 

which makes the price discovery 

process more efficient and results in 

higher fill rates, greater depth and lower 

volatility. It serves to encourage 

Members to post orders that are more 

likely to be executed.’’ 14

The Exchange proposes to amend the 

description of Flag K in reference to 

orders routed to the PSX to include the 

ROUE routing strategy in addition to the 

ROUC routing strategy. The Exchange 

proposes to continue to assess a charge 

of $0.0025 per share. The Exchange 

believes that by including the ROUE 

routing strategy in the description of 

Flag K, the Exchange is providing 

additional transparency to the fee 

schedule by broadening that flag’s 

applicability to several routing 

strategies. This encourages Members to 

utilize the Exchange to route to various 

destinations, which results in a lower 

overall routed rate for Members and 

allows the Exchange to pass on the 

savings it receives to the Exchange’s 

Members. The Exchange believes that 

the proposed rebate is nondiscriminatory in that it applies 

uniformly to all Members. 

Similarly, the Exchange proposes to 

amend the description of Flag BY in 

reference to orders routed to the BATS 

BYX Exchange to include the ROUE 

routing strategy in addition to the ROUC 

and ROBY routing strategies. The 

Exchange proposes to continue to offer 

a rebate of $0.0002 per share. The 

Exchange believes that by including the 

ROUE routing strategy in the 

description of Flag BY the Exchange is 

providing additional transparency to the 

fee schedule by broadening that flag’s 

applicability to several routing 

strategies. This encourages Members to 

utilize the Exchange to route to various 

destinations, which results in a lower 

overall routed rate for Members and 

allows the Exchange to pass on the 

savings it receives to the Exchange’s 

Members. The Exchange believes that 

the proposed rebate is nondiscriminatory in that it applies 

uniformly to all Members. 

The Exchange also notes that it 

operates in a highly competitive market 

in which market participants can 

readily direct order flow to competing 

venues if they deem fee levels at a 

particular venue to be excessive. The 

proposed rule change reflects a 

competitive pricing structure designed 

to incent market participants to direct 

their order flow to the Exchange. The 

Exchange believes that the proposed 

rates are equitable and nondiscriminatory in that they apply 

uniformly to all Members. The 

Exchange believes the fees and credits 

remain competitive with those charged 

by other venues and therefore continue 

to be reasonable and equitably allocated 

to Members. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The proposed rule change does not 

impose any burden on competition that 

is 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 

The Exchange has not solicited, and 

does not intend to solicit, comments on 

this proposed rule change. The 

Exchange has not received any 

unsolicited written comments from 

members or other interested parties. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 19(b)(3) of 

the Act 15 and Rule 19b–4(f)(2) 16

thereunder. At any time within 60 days 

of the filing of such proposed rule 

mstockstill on DSK4VPTVN1PROD with NOTICES

22056 Federal Register / Vol. 77, No. 71 / Thursday, April 12, 2012 / Notices 

17 17 CFR 200.30–3(a)(12). 

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. 

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 email to rulecomments@sec.gov. Please include File 

Number SR–EDGX–2012–12 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–EDGX–2012–12. This file 

number should be included on the 

subject line if email 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–EDGX– 

2012–12 and should be submitted on or 

before May 3, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–8786 Filed 4–11–12; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Reporting and Recordkeeping 

Requirements Under OMB Review 

AGENCY: Small Business Administration. 

ACTION: Notice of Reporting 

Requirements Submitted for OMB 

Review. 

SUMMARY: Under the provisions of the 

Paperwork Reduction Act (44 U.S.C. 

Chapter 35), agencies are required to 

submit proposed reporting and 

recordkeeping requirements to OMB for 

review and approval, and to publish a 

notice in the Federal Register notifying 

the public that the agency has made 

such a submission. 

DATES: Submit comments on or before 

May 14, 2012. If you intend to comment 

but cannot prepare comments promptly, 

please advise the OMB Reviewer and 

the Agency Clearance Officer before the 

deadline. 

Copies: Request for clearance (OMB 

83–1), supporting statement, and other 

documents submitted to OMB for 

review may be obtained from the 

Agency Clearance Officer. 

ADDRESSES: Address all comments 

concerning this notice to: Agency 

Clearance Officer, Curtis Rich, Small 

Business Administration, 409 3rd Street 

SW., 5th Floor, Washington, DC 20416; 

and OMB Reviewer, Office of 

Information and Regulatory Affairs, 

Office of Management and Budget, New 

Executive Office Building, Washington, 

DC 20503. 

FOR FURTHER INFORMATION CONTACT: 

Curtis Rich, Agency Clearance Officer, 

(202) 205–7030. 

SUPPLEMENTARY INFORMATION: 

Title: ‘‘Notice of Award and Grant/ 

Cooperative Agreement and Cost 

Sharing Proposal’’. 

Frequency: On Occasion. 

SBA Form Number’s: SBA Forms 

1222 and 1224. 

Description of Respondents: 

Grantee’s. 

Responses: 2,568. 

Annual Burden: 205,440. 

Curtis Rich, 

Acting Chief, Administrative Information 

Branch. 

[FR Doc. 2012–8745 Filed 4–11–12; 8:45 am] 

BILLING CODE P 

SMALL BUSINESS ADMINISTRATION 

Interagency Task Force on Veterans 

Small Business Development 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice of open Federal 

Interagency Task Force meeting. 

SUMMARY: The SBA is issuing this notice 

to announce the location, date, time, 

and agenda for the fourth public 

meeting of the Interagency Task Force 

on Veterans Small Business 

Development. The meeting will be open 

to the public. 

DATES: Friday, April 27, 2012, from 9 

a.m. to 12 noon in the Eisenhower 

Conference Room, Side A & B, located 

on the 2nd floor. 

ADDRESSES: U.S. Small Business 

Administration, 409 3rd Street SW., 

Washington, DC 20416. 

SUPPLEMENTARY INFORMATION: Pursuant 

to section 10(a)(2) of the Federal 

Advisory Committee Act (5 U.S.C. 

Appendix 2), SBA announces the 

meeting of the Interagency Task Force 

on Veterans Small Business 

Development. The Task Force is 

established pursuant to Executive Order 

13540 and focused on coordinating the 

efforts of Federal agencies to improve 

capital, business development 

opportunities, and pre-established 

Federal contracting goals for small 

business concerns owned and 

controlled by veterans (VOBs) and 

service-disabled veterans (SDVOSBs). 

Moreover, the Task Force shall 

coordinate administrative and 

regulatory activities and develop 

proposals relating to ‘‘six focus areas’’: 

(1) Access to capital (loans, surety 

bonding, and franchising); (2) Ensure 

achievement of pre-established 

contracting goals, including mentor 

prote ́ge ́ and matching with contracting 

opportunities; (3) Increase the integrity 

of certifications of status as a small 

business; (4) Reducing paperwork and 

administrative burdens in accessing 

business development and 

entrepreneurship opportunities; (5) 

Increasing and improving training and 

counseling services; and (6) Making 

other improvements to support veteran’s 

business development by the Federal 

Government. On November 1, 2011, the 

mstockstill on DSK4VPTVN1PROD with NOTICES