6142 Federal Register / Vol. 80, No. 23 / Wednesday, February 4, 2015 / Notices 

1 Internal service performance measurement 

systems are under the direct control of the Postal 

Service. External service performance measurement 

systems are under the direct control of an 

independent third party. 

2See Docket No. PI2008–1, Order No. 140, Order 

Concerning Proposals for Internal Service Standards 

Measurement Systems, November 25, 2008, 73 FR 

73664 (2008). 

3For compliance purposes, the Postal Service 

reports service performance for most market 

dominant products on an annual basis. See 39 CFR 

part 3055 subpart A; 39 U.S.C. 3652(a)(2)(i). For 

informational purposes, the Postal Service reports 

service performance for most market dominant 

products on a quarterly basis. See 39 CFR part 3055 

subpart B. 

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

2 17 CFR 240.19b–4. 

POSTAL REGULATORY COMMISSION 

[Docket Nos. PI2015–1; Order No. 2336] 

Public Inquiry on Service Performance 

Measurement Systems 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice. 

SUMMARY: The Commission is 

establishing a public inquiry to receive 

comments regarding the Postal Service’s 

proposed service performance 

measurement systems for Market 

Dominant products. In addition, the 

Commission is scheduling a technical 

conference where the Postal Service will 

briefly outline its proposals. This notice 

informs the public of this proceeding 

and the technical conference, invites 

public comment, and takes other 

administrative steps. 

DATES: Comments are due: March 26, 

2015. Reply Comments are due: April 8, 

2015. 

ADDRESSES: Submit comments 

electronically via the Commission’s 

Filing Online system at http:// 

www.prc.gov. Those who cannot submit 

comments electronically should contact 

the person identified in the FOR FURTHER

INFORMATION CONTACT section by 

telephone for advice on filing 

alternatives. 

FOR FURTHER INFORMATION CONTACT: 

David A. Trissell, General Counsel, at 

202–789–6820. 

SUPPLEMENTARY INFORMATION: On 

October 17, 2014, the Postal Service 

began discussions with the Commission 

on proposals to develop new internal 

service performance measurement 

systems for several of its market 

dominant products, including products 

within domestic First-Class Mail, 

Periodicals, Standard Mail and Package 

Services.1 Service performance, for the 

products under consideration, are 

currently measured using either 

external, or hybrid (combined internal 

and external), measurement systems.2

For reporting service performance to 

the Commission, service performance 

must be measured by an objective 

external performance measurement 

system unless the Commission approves 

the use of an internal measurement 

system. See 39 U.S.C. 3691(b)(1)(D) and 

(b)(2). This docket will consider a Postal 

Service request for the Commission to 

approve newly proposed internal 

service performance measurement 

systems for product level reporting 

within domestic First-Class Mail, 

Periodicals, Standard Mail and Package 

Services. 

The Postal Service’s proposals are 

outlined in United States Postal Service, 

Service Performance Measurement, 

January 2015, which is concomitantly 

being filed as Library Reference PRC– 

LR–PI2015–1/1. The proposals would 

change at least two aspects of service 

performance measurement. First, the 

External First-Class system used for 

measuring single-piece First-Class Mail 

service performance would be replaced 

by a measurement system internal to the 

Postal Service. Second, the external 

reporters that are used to develop the 

last mile factors for all hybrid 

measurement systems for developing 

reports within First-Class Mail, 

Periodicals, Standard Mail and Package 

Services would be replaced by mail 

carrier scans at delivery. If the proposals 

are approved by the Commission, the 

Postal Service intends to report service 

performance using the new 

measurement systems beginning FY 

2016.3

The Commission’s role under section 

3691 of title 39 is to consult with the 

Postal Service concerning the 

establishment of service standards for 

market dominant products. Given its 

obligations under the Postal 

Accountability Enhancement Act 

(PAEA) and the Postal Service’s 

proposals, the Commission is initiating 

this docket to solicit public comment on 

the Postal Service’s proposed service 

performance measurement systems. 

The Commission will host an off-therecord technical conference on March 5, 

2015, which is open to all persons 

interested in the Postal Service’s service 

performance measurement systems 

proposals. The Postal Service shall 

briefly outline the proposals contained 

within its plan, and be available to 

answer questions. 

Interested persons are invited to 

comment on any or all aspects of the 

Postal Service’s new proposals for 

service performance measurement and 

reporting systems. Comments are due 

March 26, 2015. Reply comments may 

be filed no later than April 8, 2015. The 

Commission intends to evaluate the 

comments received and use those 

suggestions to help carry out its service 

performance measurement 

responsibilities under the PAEA. 

Material filed in this docket will be 

available for review on the 

Commission’s Web site, http:// 

www.prc.gov. 

It is ordered: 

1. Docket No. PI2015–1 is established 

for the purpose of receiving comments 

regarding the Postal Service’s proposed 

service performance measurement 

systems. 

2. A technical conference will be held 

in the Commission’s hearing room at 10 

a.m. on March 5, 2015, where the Postal 

Service will briefly outline its 

proposals, and be available to answer 

questions. 

3. Interested persons may submit 

written comments on any or all aspects 

of the Postal Service’s proposed service 

performance measurement and 

reporting systems no later than March 

26, 2015. 

4. Reply comments may be filed by no 

later than April 8, 2015. 

5. Lyudmila Y. Bzhilyanskaya is 

designated to represent the interests of 

the general public in this docket. 

6. The Secretary shall arrange for 

publication of this notice in the Federal 

Register. 

By the Commission. 

Ruth Ann Abrams, 

Acting Secretary. 

[FR Doc. 2015–02131 Filed 2–3–15; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74174; File No. SR–NYSE– 

2015–04] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change With the 

Proposed Amendment of the Restated 

Certificate of Incorporation of 

Exchange Subsidiary NYSE 

Regulation, Inc. 

January 29, 2015. 

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 January 

21, 2015, New York Stock Exchange 

LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 80, No. 23 / Wednesday, February 4, 2015 / Notices 6143 

3See Exchange Act Release No. 34–73740 (Dec. 

4, 2014) (SR–NYSE–2014–53), 79 FR 73362 

(December 10, 2014). 

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

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

6 15 U.S.C. 78s(b)(3)(A). 

7 17 CFR 240.19b–4(f)(6). 

8 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires a self-regulatory organization to 

give the Commission written notice of its intent to 

file the proposed rule change, along with a brief 

description and the text of 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. 

9 17 CFR 240.19b–4(f)(6). 

10 17 CFR 240.19b–4(f)(6)(iii). 

11For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

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

Items I and II below, which Items have 

been prepared by the self-regulatory 

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 the Substance 

of the Proposed Rule Change 

The Exchange proposes amendment 

of the Restated Certificate of 

Incorporation (the ‘‘Current Restated 

Certificate’’) of the Exchange’s 

subsidiary, NYSE Regulation, Inc., a 

New York not-for-profit corporation 

(‘‘NYSE Regulation’’), to make 

corrections as requested by the 

Department of State of the State of New 

York (the ‘‘Department’’). The text of the 

proposed rule change is available on the 

Exchange’s Web site at www.nyse.com, 

at the principal office of the Exchange, 

and at the Commission’s Public 

Reference Room. 

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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange seeks approval for its 

subsidiary NYSE Regulation to modify 

the form of Restated Certificate of 

Incorporation that it proposes to file 

with the Department. In December 2014, 

the Commission approved an 

amendment and restatement of the 

Current Restated Certificate (the 

‘‘Amended and Restated Certificate’’) 

relating to the termination of NYSE 

Group Trust I, a Delaware trust (the 

‘‘Trust’’).3 However, in reviewing the 

Amended and Restated Certificate, the 

Department requested further revisions 

prior to accepting the document for 

filing. Specifically, under Section 

805(b)(4) of the New York Not-For-Profit 

Corporation Law, the Department 

requested that the recitals to the 

Amended and Restated Certificate 

specify the amendment being made in 

the body of the document. The 

Department also requested a correction 

in a reference to the date of a filing 

made with it in 2007. 

Under the proposed amendment, the 

Amended and Restated Certificate 

would be further revised to correct the 

date in the fourth recital and to add a 

reference to the termination the [sic] 

Trust in the sixth recital. The proposed 

amendment would not affect the 

substance of the Amended and Restated 

Certificate. 

2. Statutory Basis 

The Exchange believes that this filing 

is consistent with Section 6(b) of the 

Exchange Act,4 in general, and Section 

6(b)(5) of the Exchange Act,5 in 

particular, because the proposed rule 

change summarized herein would be 

consistent with and facilitate a 

governance and regulatory structure that 

is designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

regulating, clearing, settling, processing 

information with respect to, and 

facilitating transactions in securities, 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. The enhanced recital 

and the correction of the date reference 

will provide additional clarity to readers 

of the Amended and Restated 

Certificate. 

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 that is not 

necessary or appropriate in furtherance 

of the purposes of the Exchange Act. 

The proposed rule change is not 

designed to address any competitive 

issue in the U.S. securities markets or 

have any impact on competition in 

those markets. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A) of the Act 6 and Rule 19b– 

4(f)(6) thereunder.7 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) of the Act and Rule 19b– 

4(f)(6) thereunder.8

A proposed rule change filed 

pursuant to Rule 19b–4(f)(6) under the 

Act 9 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 10

permits the Commission to 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 Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest 

because the enhanced recital and the 

correction of a date would provide 

greater clarity to readers, and immediate 

operability would allow the Exchange to 

file the Amended and Restated 

Certificate, as revised pursuant to this 

proposed rule change, with the 

Department as soon as possible. 

Therefore, the Commission hereby 

waives the operative delay and 

designates the proposed rule change 

operative upon filing.11

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 

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6144 Federal Register / Vol. 80, No. 23 / Wednesday, February 4, 2015 / Notices 

12 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 65225 

(August 30, 2011) 76 FR 55148 (September 6, 2011) 

(SR–BATS–2011–018). 

4As defined in BATS Rule 11.8(e)(1)(A), the term 

‘‘ETP’’ means any security listed pursuant to 

Exchange Rule 14.11. 

5See Securities Exchange Act Release No. 66422 

(February 17, 2012) 77 FR 11179 (February 24, 

2012) (SR–BATS–2012–010). 

6See Securities Exchange Act Release No. 72377 

(June 12, 2014) 79 FR 34822 (June 18, 2014) (SR– 

BATS–2014–024). 

7See Securities Exchange Act Release No. 73414 

(October 23, 2014) 79 FR 64434 (October 29, 2014) 

(SR–BATS–2014–050) 

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. 

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–NYSE–2015–04 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Brent J. Fields, Secretary, Securities 

and Exchange Commission, 100 F Street 

NE., Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSE–2015–04. 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 

10:00 a.m. and 3:00 p.m. Copies of such 

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–NYSE– 

2015–04, and should be submitted on or 

before February 25, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2015–02108 Filed 2–3–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74173; File No. SR–BATS– 

2015–06] 

Self-Regulatory Organizations; BATS 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change to Amend the Fees 

Applicable to Securities Listed on 

BATS Exchange, Inc. pursuant to Rule 

14.13 

January 29, 2015. 

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 January 

22, 2015, BATS Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BATS’’) 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 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 

The Exchange filed a proposal to 

amend the fees applicable to securities 

listed on the Exchange pursuant to 

BATS Rule 14.13. Changes to the 

Exchange’s fees pursuant to this 

proposal are effective upon filing. 

Changes to the fee schedule pursuant to 

this proposal are effective upon filing. 

The text of the proposed rule change 

is available at the Exchange’s Web site 

at http://www.batstrading.com/, at the 

principal office of the Exchange, and at 

the Commission’s Public Reference 

Room. 

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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

On August 30, 2011, the Exchange 

received approval of rules applicable to 

the qualification, listing, and delisting 

of companies on the Exchange,3 which 

it modified on February 8, 2012 in order 

to adopt pricing for the listing of 

exchange traded products (‘‘ETPs’’)4 on 

the Exchange,5 which it subsequently 

modified again on June 4, 2014,6 and 

October 16, 2014.7 The Exchange 

proposes to modify Rule 14.13, entitled 

‘‘Company Listing Fees,’’ to modify how 

the Exchange administers the billing of 

the application fee applicable to the 

listing of ETPs to more closely align 

with the Exchange’s typical billing 

cycle, which is administered on a 

monthly basis. Currently, the issuer of 

an ETP is required to pay the $5,000 

application fee to the Exchange with the 

application to list the ETP on the 

Exchange. The Exchange is proposing to 

amend the language in Rule 

14.13(b)(1)(C) such that the application 

fee for ETPs becomes billable to the 

issuer for the month during which the 

ETP is first listed on the Exchange. As 

proposed, instead of requiring the 

Exchange to take payment without 

issuing any bill, the Exchange would 

bill application fees to issuers on a 

monthly basis, which is in line with 

how the Exchange applies most other 

aspects of its billing. The Exchange 

notes that it is not proposing to amend 

the $5,000 application fee for ETPs. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the requirements of the Act and the 

rules and regulations thereunder that 

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