Federal Register / Vol. 73, No. 193 / Friday, October 3, 2008 / Notices 57725 

13 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Nasdaq is submitting to the Commission in 

connection with this filing the list of indexes and 

ETFs that are currently (as of the date of this filing) 

included in the Nasdaq index dissemination 

service. This list changes frequently, and an up-todate list is available at: http:// 

www.nasdaqtrader.com/content/productsservices/ 

dataproducts/realtimeindexes/indexsymbols.pdf. 

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 inspection and copying 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–Phlx–2008–64 and should 

be submitted on or before October 24, 

2008. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–23362 Filed 10–2–08; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–58666; File No. SR– 

NASDAQ–2008–018] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing of Proposed Rule Change and 

Amendments No. 1 and 2 Thereto To 

Remove From Rule 7019 the Fees for 

Receiving Index Values 

September 26, 2008. 

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 March 12, 

2008, The NASDAQ Stock Market LLC 

(‘‘Nasdaq’’) 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 Nasdaq. On 

September 5, 2008, Nasdaq filed 

Amendment No. 1 to the proposed rule 

change. On September 25, 2008, Nasdaq 

filed Amendment No. 2 to the proposed 

rule change. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change, 

as amended, from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

Nasdaq is proposing to remove from 

the Nasdaq Rule 7019 fees for receiving 

index values. Nasdaq’s rule book 

contains rules pertaining to ‘‘facilities’’ 

of the exchange, and indexes are not 

such ‘‘facilities’’ within the meaning of 

the Act. 

The text of the proposed rule change 

to Rule 7019 is below. Proposed 

deletions are in brackets. 

* * * * * 

7019. Market Data Distributor Fees 

(a) No change. 

(b) The charge to be paid by 

Distributors of the following Nasdaq 

Market Center real time data feeds shall 

be: 

Monthly direct access fee Monthly internal 

distributor fee 

Monthly external 

distributor fee 

Issue Specific Data: 

Dynamic Intraday ................................................................................................ .............................. .............................. ..............................

TotalView ............................................................................................................ $2,000 $1,000 $2,500 

OpenView ........................................................................................................... $1,000 $500 $1,250 

[Market Summary Statistics]: 

[Intraday] ............................................................................................................. [$500] [$50] [$1,500] 

[Real Time Index] 

(c) and (d) 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 designs and licenses to 

financial product issuers and sponsors 

and to other interested parties a number 

of Nasdaq-proprietary securities 

indexes. Nasdaq also calculates the 

values of Nasdaq and, on occasion, nonNasdaq indexes and disseminates such 

values to subscribers. The Nasdaq 

indexes include broad market indexes, 

such as the Nasdaq-100 and the Nasdaq 

Composite, sectoral indexes, such as 

Nasdaq Biotechnology, Nasdaq 

Insurance or Nasdaq Transportation, 

international indexes, such as Nasdaq 

Israel and Nasdaq China, and custom 

co-branded indexes, such as Nasdaq 

Clean Edge. Some of these indexes 

include only those components that are 

listed on Nasdaq, while others may also 

include components listed on other 

exchanges. 

All market participants, both 

members and non-members of Nasdaq, 

are currently able to subscribe to 

Nasdaq’s index dissemination service. 

Subscribers currently also receive intraday asset values as well as certain oncea-day information for exchange traded 

funds (‘‘ETFs’’).3 The intra-day asset 

values for ETFs that Nasdaq 

disseminates can be calculated by 

Nasdaq itself (subject to negotiating an 

appropriate agreement on commercial 

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57726 Federal Register / Vol. 73, No. 193 / Friday, October 3, 2008 / Notices 

4See, e.g., Securities Exchange Act Release No. 

34–45685 (Apr. 3, 2002) (approving SR–NASD– 

2001–86, modifying the index distribution fee, 

which was included in the NASD Manual). 5See Securities Exchange Act Release No. 34– 

53128 (Jan. 13, 2006) (approval of Nasdaq’s 

application for registration as a national securities 

exchange). 6The information used in calculating the values 

of the Nasdaq indexes is made publicly available, 

and Nasdaq’s status as a self-regulatory organization 

gives it no special advantage over any other entity 

that may wish to calculate the values of these 

indexes. Generally, the ‘‘inputs’’ required to make 

the calculation include last sale prices and total 

shares outstanding for the underlying securities, 

and the weighting of each underlying security in 

the index. The Nasdaq systems that calculate index 

values receive the price data in the same manner 

as other subscribers to the relevant data streams 

(i.e., from the relevant ‘‘Tapes’’). The total shares 

outstanding data are derived from the companies’ 

SEC public filings, from the notifications that 

Nasdaq-listed issuers are required to submit to 

Nasdaq in the event of 5% or greater changes in the 

total shares outstanding, and on occasion from 

information that issuers may voluntarily 

communicate to Nasdaq. (In all cases, the current 

total shares outstanding figures are posted on a 

Nasdaq Web site, and any changes to the posted 

figures are reflected on the Web site no later than 

when such changes become effective for index 

calculations.) Component weightings are normally 

determined by index owners using their proprietary 

algorithms. In the case of Nasdaq-owned indexes, 

component weightings are determined daily by 

Nasdaq (in its capacity as the index owner). Nasdaq 

makes these weightings available to the public for 

purchase. 

7 15 U.S.C. 78s(b)(1). 

8 17 CFR 240.19b–4. 

9Nasdaq does not currently tie the fees that 

distributors pay for receiving index values to fees 

for or usage of exchange services. Exchange services 

include, for example, listing and trading. 

10See Securities Exchange Act Release No. 56237 

(Aug. 9, 2007), 72 FR 46118 (Aug. 16, 2007) 

(approving removal from exchange rule book of 

provisions governing operation of the ACES 

system). 

11 15 U.S.C. 78s(b)(1). 

12 17 CFR 240.19b–4. 

13 15 U.S.C. 78f(b). 

terms with the ETF sponsor) or by a 

third party. 

Nasdaq believes that the business of 

creating and licensing indexes is highly 

competitive. Some of Nasdaq’s 

prominent competitors are Dow Jones, 

Russell, Standard & Poor, as well as 

many others. It is Nasdaq’s 

understanding that license fees that 

Nasdaq and its competitors charge for 

the actual use of their respective 

indexes in connection with the creation 

or trading of financial products linked 

to such indexes have never been subject 

to Commission oversight. However, 

Nasdaq’s former corporate parent, then 

known as the National Association of 

Securities Dealers, Inc. (‘‘NASD’’), 

historically included in its rule book 

charges for distributing index values,4

and this practice carried over into the 

Nasdaq rule book when Nasdaq was 

registered as a national securities 

exchange in 2006.5

Nasdaq believes that by calculating 

and distributing index and ETF values, 

it provides information regarding a nonexchange activity.6 As such, Nasdaq 

believes that its index dissemination 

service is not a facility of a national 

securities exchange within the meaning 

of the Act and that it is not required 

under Section 19(b)(1) of the Act 7 and 

Rule 19b–4 thereunder 8 to file rules 

regarding the applicable charges. 

If, at a later date, Nasdaq proposed to 

modify the manner in which it 

disseminates index values causing this 

service to fit within the definition of a 

facility of the exchange, or if Nasdaq 

proposed to tie the fees that distributors 

pay for receiving index values to fees for 

or usage of exchange services,9 Nasdaq 

would file a proposed rule change with 

the Commission.10

2. Statutory Basis 

Nasdaq believes that its index 

dissemination service is not a facility of 

a national securities exchange within 

the meaning of the Act and the terms of 

this service are not rules that must be 

filed with the Commission under 

Section 19(b)(1) of the Act 11 and Rule 

19b–4 thereunder.12 Therefore, 

removing the applicable provisions from 

the Nasdaq rule book would be 

consistent with the provisions of 

Section 6(b) of the Act.13

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 

Within 35 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

as the Commission may designate up to 

90 days of such date if it finds such 

longer period to be appropriate and 

publishes its reasons for so finding or 

(ii) as to which the self-regulatory 

organization consents, the Commission 

will: 

A. By order approve such proposed 

rule change, or 

B. Institute proceedings to determine 

whether the proposed rule change 

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

Number SR–NASDAQ–2008–018 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NASDAQ–2008–018. 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 inspection and copying 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 such filing also will be 

available for inspection and copying at 

the principal office of Nasdaq. 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 publicly available. All 

submissions should refer to File 

Number SR–NASDAQ–2008–018 and 

should be submitted on or before 

October 24, 2008. 

mstockstill on PROD1PC66 with NOTICES

Federal Register / Vol. 73, No. 193 / Friday, October 3, 2008 / Notices 57727 

14 17 CFR 200.30–3(a)(12). 

1Pursuant to 49 CFR 1152.50(d)(2), the railroad 

must file a verified notice with the Board at least 

50 days before the abandonment or discontinuance 

is to be consummated. The applicant initially 

indicated a proposed consummation date of 

November 1, 2008, but because the verified notice 

was filed on September 15, 2008, consummation 

may not take place prior to November 4, 2008. 

2The Board will grant a stay if an informed 

decision on environmental issues (whether raised 

by a party or by the Board’s Section of 

Environmental Analysis (SEA) in its independent 

investigation) cannot be made before the 

exemption’s effective date. See Exemption of Outof-Service Rail Lines, 5 I.C.C.2d 377 (1989). Any 

request for a stay should be filed as soon as possible 

so that the Board may take appropriate action before 

the exemption’s effective date. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–23363 Filed 10–2–08; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF TRANSPORTATION 

Office of the Secretary 

Notice of Applications for Certificates 

of Public Convenience and Necessity 

and Foreign Air Carrier Permits Filed 

Under Subpart B (Formerly Subpart Q) 

During the Week Ending September 19, 

2008 

The following Applications for 

Certificates of Public Convenience and 

Necessity and Foreign Air Carrier 

Permits were filed under Subpart B 

(formerly Subpart Q) of the Department 

of Transportation’s Procedural 

Regulations (See 14 CFR 301.201 et 

seq.). The due date for Answers, 

Conforming Applications, or Motions to 

Modify Scope are set forth below for 

each application. Following the Answer 

period DOT may process the application 

by expedited procedures. Such 

procedures may consist of the adoption 

of a show-cause order, a tentative order, 

or in appropriate cases a final order 

without further proceedings. 

Docket Number: DOT–OST–2008– 

0286. 

Date Filed: September 15, 2008. 

Due Date for Answers, Conforming 

Applications, or Motion to Modify 

Scope: October 6, 2008. 

Description: Application of Vision 

Airlines, Inc. (‘‘Vision’’) requesting an 

amendment to its certificate of public 

convenience and necessity authorizing 

Vision to engage in air transportation of 

persons, property and mail with large 

aircraft. 

Renee V. Wright, 

Program Manager, Docket Operations, 

Federal Register Liaison. 

[FR Doc. E8–23408 Filed 10–2–08; 8:45 am] 

BILLING CODE 4910–9X–P 

DEPARTMENT OF TRANSPORTATION 

Office of the Secretary 

Aviation Proceedings, Agreements 

Filed the Week Ending September 19, 

2008 

The following Agreements were filed 

with the Department of Transportation 

under the Sections 412 and 414 of the 

Federal Aviation Act, as amended (49 

U.S.C. 1382 and 1384) and procedures 

governing proceedings to enforce these 

provisions. Answers may be filed within 

21 days after the filing of the 

application. 

Docket Number: DOT–OST–2008– 

0287. 

Date Filed: September 18, 2008. 

Parties: Members of the International 

Air Transport Association. 

Subject: TC2 Within Middle East 

Expedited Resolution 002ca (Memo 

0188); Intended effective date: 1 January 

2009. 

Docket Number: DOT–OST–2008– 

0288. 

Date Filed: September 18, 2008. 

Parties: Members of the International 

Air Transport Association. 

Subject: TC23/123 Africa–TC3 (except 

South West Pacific) , Resolution 015v 

(Memo 0389) , Intended effective date: 

15 October 2008. 

Docket Number: DOT–OST–2008– 

0289. 

Date Filed: September 18, 2008. 

Parties: Members of the International 

Air Transport Association. 

Subject: TC23/123 Africa-South East 

Asia Expedited, Resolution 002bw 

(Memo 0390), Intended effective date: 

15 October 2008. 

Docket Number: DOT–OST–2008– 

0290. 

Date Filed: September 18, 2008. 

Parties: Members of the International 

Air Transport Association. 

Subject: TC23/123 Middle East-TC3 

(except South West Pacific), Resolution 

015v (Memo 0391), Intended effective 

date: 15 October 2008. 

Docket Number: DOT–OST–2008– 

0291. 

Date Filed: September 18, 2008. 

Parties: Members of the International 

Air Transport Association. 

Subject: TC23/123 Middle East-South 

East Asia Expedited, Resolution 002hh 

(Memo 0392), Intended effective date: 

15 October 2008. 

Renee V. Wright, 

Program Manager, Docket Operation, Federal 

Register Liaison. 

[FR Doc. E8–23407 Filed 10–2–08; 8:45 am] 

BILLING CODE 4910–9X–P 

DEPARTMENT OF TRANSPORTATION 

Surface Transportation Board 

[STB Docket No. AB–55 (Sub-No. 688X)] 

CSX Transportation, Inc.— 

Abandonment Exemption—in Marion 

County, IN 

CSX Transportation, Inc. (CSXT) has 

filed a verified notice of exemption 

under 49 CFR part 1152 subpart F— 

Exempt Abandonments to abandon a 

1.01-mile line of railroad, known as the 

Arlington Industrial Track, located on 

its Northern Region, Great Lakes 

Division, Indianapolis Belt Subdivision, 

extending from milepost QIA 1.11 

(English Ave.) to the end of the track at 

milepost QIA 0.1 in Marion County, IN. 

The line traverses United States Postal 

Service Zip Code 46219 and includes no 

stations. 

CSXT has certified that: (1) No local 

traffic has moved over the line for at 

least 2 years; (2) any overhead traffic on 

the line can be rerouted; (3) no formal 

complaint filed by a user of rail service 

on the line (or by a state or local 

government entity acting on behalf of 

such user) regarding cessation of service 

over the line either is pending with the 

Surface Transportation Board or with 

any U.S. District Court or has been 

decided in favor of complainant within 

the 2-year period; and (4) the 

requirements of 49 CFR 1105.7 

(environmental report), 49 CFR 1105.8 

(historic report), 49 CFR 1105.11 

(transmittal letter), 49 CFR 1105.12 

(newspaper publication), and 49 CFR 

1152.50(d)(1) (notice to governmental 

agencies) have been met. 

As a condition to this exemption, any 

employee adversely affected by the 

abandonment shall be protected under 

Oregon Short Line R. Co.— 

Abandonment—Goshen, 360 I.C.C. 91 

(1979). To address whether this 

condition adequately protects affected 

employees, a petition for partial 

revocation under 49 U.S.C. 10502(d) 

must be filed. 

Provided no formal expression of 

intent to file an offer of financial 

assistance (OFA) has been received, this 

exemption will be effective on 

November 4, 2008, unless stayed 

pending reconsideration.1 Petitions to 

stay that do not involve environmental 

issues,2 formal expressions of intent to 

file an OFA under 49 CFR 

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