Federal Register / Vol. 89, No. 232 / Tuesday, December 3, 2024 / Notices 95821 

1See Docket No. RM2018–3, Order Adopting 

Final Rules Relating to Non-Public Information, 

June 27, 2018, Attachment A at 19–22 (Order No. 

4679). 

POSTAL REGULATORY COMMISSION 

[Docket Nos. MC2025–477 and K2025–474; 

MC2025–510 and K2025–508; MC2025–511 

and K2025–509; MC2025–512 and K2025– 

510; MC2025–513 and K2025–511; MC2025– 

514 and K2025–512; MC2025–515 and 

K2025–513; MC2025–516 and K2025–514; 

MC2025–517 and K2025–515; MC2025–518 

and K2025–516; MC2025–519 and K2025– 

517] 

New Postal Products 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice. 

SUMMARY: The Commission is noticing a 

recent Postal Service filing for the 

Commission’s consideration concerning 

a negotiated service agreement. This 

notice informs the public of the filing, 

invites public comment, and takes other 

administrative steps. 

DATES: Comments are due: December 6, 

2024. 

ADDRESSES: Submit comments 

electronically via the Commission’s 

Filing Online system at https://

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: 

Table of Contents 

I. Introduction 

II. Public Proceeding(s) 

III. Summary Proceeding(s) 

I. Introduction 

Pursuant to 39 CFR 3041.405, the 

Commission gives notice that the Postal 

Service filed request(s) for the 

Commission to consider matters related 

to Competitive negotiated service 

agreement(s). The request(s) may 

propose the addition of a negotiated 

service agreement from the Competitive 

product list or the modification of an 

existing product currently appearing on 

the Competitive product list. 

The public portions of the Postal 

Service’s request(s) can be accessed via 

the Commission’s website (https://

www.prc.gov). Non-public portions of 

the Postal Service’s request(s), if any, 

can be accessed through compliance 

with the requirements of 39 CFR 

3011.301.1

Section II identifies the docket 

number(s) associated with each Postal 

Service request, if any, that will be 

reviewed in a public proceeding as 

defined by 39 CFR 3010.101(p), the title 

of each such request, the request’s 

acceptance date, and the authority cited 

by the Postal Service for each request. 

For each such request, the Commission 

appoints an officer of the Commission to 

represent the interests of the general 

public in the proceeding, pursuant to 39 

U.S.C. 505 and 39 CFR 3000.114 (Public 

Representative). Section II also 

establishes comment deadline(s) 

pertaining to each such request. 

The Commission invites comments on 

whether the Postal Service’s request(s) 

identified in Section II, if any, are 

consistent with the policies of title 39. 

Applicable statutory and regulatory 

requirements include 39 U.S.C. 3632, 39 

U.S.C. 3633, 39 U.S.C. 3642, 39 CFR 

part 3035, and 39 CFR part 3041. 

Comment deadline(s) for each such 

request, if any, appear in Section II. 

Section III identifies the docket 

number(s) associated with each Postal 

Service request, if any, to add a 

standardized distinct product to the 

Competitive product list or to amend a 

standardized distinct product, the title 

of each such request, the request’s 

acceptance date, and the authority cited 

by the Postal Service for each request. 

Standardized distinct products are 

negotiated service agreements that are 

variations of one or more Competitive 

products, and for which financial 

models, minimum rates, and 

classification criteria have undergone 

advance Commission review. See 39 

CFR 3041.110(n); 39 CFR 3041.205(a). 

Such requests are reviewed in summary 

proceedings pursuant to 39 CFR 

3041.325(c)(2) and 39 CFR 

3041.505(f)(1). Pursuant to 39 CFR 

3041.405(c)–(d), the Commission does 

not appoint a Public Representative or 

request public comment in proceedings 

to review such requests. 

II. Public Proceeding(s) 

1. Docket No(s).: MC2025–477 and 

K2025–474; Filing Title: USPS Request 

to Add Priority Mail & USPS Ground 

Advantage Contract 478 to the 

Competitive Product List and Notice of 

Filing Materials Under Seal; Filing 

Acceptance Date: November 22, 2024; 

Filing Authority: 39 U.S.C. 3642, 39 CFR 

3035.105, and 39 CFR 3041.310; Public 

Representative: Christopher Mohr; 

Comments Due: December 6, 2024. 

2. Docket No(s).: MC2025–510 and 

K2025–508; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 805 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

November 26, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Maxine Bradley; Comments Due: 

December 6, 2024. 

3. Docket No(s).: MC2025–511 and 

K2025–509; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 806 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

November 26, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Christopher Mohr; Comments Due: 

December 6, 2024. 

4. Docket No(s).: MC2025–512 and 

K2025–510; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 807 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

November 26, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Maxine Bradley; Comments Due: 

December 6, 2024. 

5. Docket No(s).: MC2025–513 and 

K2025–511; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 808 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

November 26, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Christopher Mohr; Comments Due: 

December 6, 2024. 

6. Docket No(s).: MC2025–514 and 

K2025–512; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 809 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

November 26, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Maxine Bradley; Comments Due: 

December 6, 2024. 

7. Docket No(s).: MC2025–515 and 

K2025–513; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 810 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

November 26, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Christopher Mohr; Comments Due: 

December 6, 2024. 

8. Docket No(s).: MC2025–516 and 

K2025–514; Filing Title: USPS Request 


lotter on DSK11XQN23PROD with NOTICES1
95822 Federal Register / Vol. 89, No. 232 / Tuesday, December 3, 2024 / Notices 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 99879 

(April 1, 2024), 89 FR 24070 (‘‘Notice’’). 4 15 U.S.C. 78s(b)(3)(A). A proposed rule change 

may take effect upon filing with the Commission if 

it is designated by the exchange as ‘‘establishing or 

changing a due, fee, or other charge imposed by the 

self-regulatory organization on any person, whether 

or not the person is a member of the self-regulatory 

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

5See Notice, supra note 3. As part of the 

Proposal, the Exchange included an Exhibit 3 

containing a paper in support of its proposed rule 

change written by Nasdaq Economic Research. See 

Phil Mackintosh & Michael Normyle, Nasdaq 

Economic Research, ‘‘How Exchanges Compete: An 

Economic Analysis of Platform Competition’’ 

(February 2024), available at https://www.sec.gov/ 

files/rules/sro/nasdaq/2024/34-99879-ex3.pdf 

(‘‘Nasdaq Paper’’). 

6Comments received on the Proposal are 

available at https://www.sec.gov/comments/srnasdaq-2024-016/srnasdaq2024016.htm. All 

comments received opposed the proposed rule 

change. 

7 15 U.S.C. 78s(b)(3)(C). 

8 15 U.S.C. 78s(b)(2)(B). 

9See Securities Exchange Act Release No. 

100188, 89 FR 46243 (May 28, 2024) (‘‘Order 

Instituting Proceedings’’). 

10See Securities Exchange Act Release No. 

101224, 89 FR 81129 (October 7, 2024). 

11 15 U.S.C. 78f(b)(4), (5), and (8), 15 U.S.C. 78k– 

1(a)(1)(C)(i)–(iv), 17 CFR 242.603(a)(1) and 17 CFR 

242.603(a)(2). 

12See Notice, supra note 3, at 24070 (stating that 

Non-Display Usage is any method of accessing 

Nasdaq U.S. information that involves access or use 

by a machine or automated device without access 

or use of a display by a natural person and 

providing examples of Non-Display Usage). The 

Exchange also states that, although either top-ofbook or depth-of-book data can be used for NonDisplay Usage, the Proposal modifies fees for depthof-book data only. See id. (citing Equity 7, Section 

123 (Nasdaq Depth-of-Book data)). 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 811 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

November 26, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Maxine Bradley; Comments Due: 

December 6, 2024. 

9. Docket No(s).: MC2025–517 and 

K2025–515; Filing Title: USPS Request 

to Add Priority Mail & USPS Ground 

Advantage Contract 485 to the 

Competitive Product List and Notice of 

Filing Materials Under Seal; Filing 

Acceptance Date: November 26, 2024; 

Filing Authority: 39 U.S.C. 3642, 39 CFR 

3035.105, and 39 CFR 3041.310; Public 

Representative: Jennaca Upperman; 

Comments Due: December 6, 2024. 

10. Docket No(s).: MC2025–518 and 

K2025–516; Filing Title: USPS Request 

to Add Priority Mail & USPS Ground 

Advantage Contract 486 to the 

Competitive Product List and Notice of 

Filing Materials Under Seal; Filing 

Acceptance Date: November 26, 2024; 

Filing Authority: 39 U.S.C. 3642, 39 CFR 

3035.105, and 39 CFR 3041.310; Public 

Representative: Christoher Mohr; 

Comments Due: December 6, 2024. 

11. Docket No(s).: MC2025–519 and 

K2025–517; Filing Title: USPS Request 

to Add Priority Mail & USPS Ground 

Advantage Contract 487 to the 

Competitive Product List and Notice of 

Filing Materials Under Seal; Filing 

Acceptance Date: November 26, 2024; 

Filing Authority: 39 U.S.C. 3642, 39 CFR 

3035.105, and 39 CFR 3041.310; Public 

Representative: Jennaca Upperman; 

Comments Due: December 6, 2024. 

III. Summary Proceeding(s) 

None. See Section II for public 

proceedings. 

This Notice will be published in the 

Federal Register. 

Erica A. Barker, 

Secretary. 

[FR Doc. 2024–28349 Filed 12–2–24; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101766; File No. SR– 

NASDAQ–2024–016] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Order 

Disapproving Proposed Rule Change 

To Increase Fees for Certain Market 

Data and Connectivity Products and To 

Maintain the Current Fees for Such 

Products if Members Meet a Minimum 

Average Daily Displayed Volume 

Threshold 

November 26, 2024. 

I. Introduction 

On March 22, 2024, The Nasdaq Stock 

Market LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) 

filed with the Securities and Exchange 

Commission (‘‘Commission’’ or ‘‘SEC’’), 

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

Securities Exchange Act of 1934 

(‘‘Exchange Act’’),1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

increase fees for certain market data and 

connectivity products and to maintain 

the current fees for such products if 

members meet a minimum average daily 

displayed volume threshold 

(‘‘Proposal’’).3 The proposed rule 

change was immediately effective upon 

filing with the Commission pursuant to 

Section 19(b)(3)(A) of the Exchange 

Act.4 The proposed rule change was 

published for comment in the Federal 

Register on April 5, 2024.5 The 

Commission has received comment 

letters on the proposed rule change and 

a letter responding to comments from 

Nasdaq.6 On May 21, 2024, the 

Commission issued an order 

temporarily suspending the proposed 

rule change pursuant to Section 

19(b)(3)(C) of the Exchange Act 7 and 

simultaneously instituting proceedings 

under Section 19(b)(2)(B) of the 

Exchange Act 8 to determine whether to 

approve or disapprove the proposed 

rule change.9 On October 1, 2024, the 

Commission designated a longer period 

for Commission action on the proposed 

rule change.10 This order disapproves 

the proposed rule change. 

This order disapproves the proposed 

rule change because, as discussed 

below, the Exchange has not met its 

burden under the Exchange Act and the 

Commission’s Rules of Practice to 

demonstrate that the Proposal is 

consistent with the requirements of 

Sections 6(b)(4), (b)(5), and (b)(8) of the 

Exchange Act, in particular the 

requirements that the rules of a national 

securities exchange ‘‘provide for the 

equitable allocation of reasonable dues, 

fees, and other charges among its 

members and issuers and other persons 

using its facilities,’’ not be ‘‘designed to 

permit unfair discrimination between 

customers, issuers, brokers, or dealers,’’ 

and ‘‘not impose any burden on 

competition not necessary or 

appropriate in furtherance of the 

purposes of [the Exchange Act];’’ as well 

as Section 11A of the Exchange Act and 

Rules 603(a)(1) and 603(a)(2) of 

Regulation NMS which, among other 

things, require the Exchange to 

distribute market data on terms that are 

‘‘fair and reasonable’’ and ‘‘not 

unreasonably discriminatory.’’11

II. Description of the Proposed Rule 

Change and Exchange’s 

Representations 

As described in more detail in the 

Notice and Order Instituting 

Proceedings, the Exchange proposes to 

increase non-member and member firm 

fees for Non-Display Usage 12 of depthof-book data and the fees for the 

Exchange’s 40Gb and 10Gb Ultra highspeed connections to the Exchange. 

However, the Exchange proposes to 

continue to charge the current fees for 


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