65262 Federal Register / Vol. 79, No. 212 / Monday, November 3, 2014 / Notices 

1The Plan Participants (collectively, 

‘‘Participants’’) are the: BATS Exchange, Inc. 

(‘‘BATS’’); BATS Y-Exchange, Inc. (‘‘BATS Y’’); 

Chicago Board Options Exchange, Incorporated 

(‘‘CBOE’’); Chicago Stock Exchange, Inc. (‘‘CHX’’); 

EDGA Exchange, Inc. (‘‘EDGA’’); EDGX Exchange, 

Inc. (‘‘EDGX’’); Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’); International Securities 

Exchange LLC (‘‘ISE’’); NASDAQ OMX BX, Inc. 

(‘‘BX’’); NASDAQ OMX PHLX, Inc. (‘‘PHLX’’); 

Nasdaq Stock Market LLC (‘‘Nasdaq’’); National 

Stock Exchange, Inc. (‘‘NSX’’); New York Stock 

Exchange LLC (‘‘NYSE’’); NYSE Amex, Inc. 

(‘‘NYSEAmex’’); and NYSE Arca, Inc. 

(‘‘NYSEArca’’). 

2 17 CFR 240.608. 

3 15 U.S.C. 78k–1. 

4The Plan governs the collection, processing, and 

dissemination on a consolidated basis of quotation 

information and transaction reports in Eligible 

Securities for each of its Participants. This 

consolidated information informs investors of the 

current quotation and recent trade prices of Nasdaq 

securities. It enables investors to ascertain from one 

data source the current prices in all the markets 

trading Nasdaq securities. The Plan serves as the 

required transaction reporting plan for its 

Participants, which is a prerequisite for their 

trading Eligible Securities. See Securities Exchange 

Act Release No. 55647 (April 19, 2007) 72 FR 20891 

(April 26, 2007). 

5See Securities Exchange Act Release No. 73239 

(September 26, 2014), 79 FR 60203 (‘‘Notice’’). 

6See Securities Exchange Act Release No. 73285 

(October 1, 2014), 79 FR 60555 (October 7, 2014), 

Notice of SR–CTA/CQ–2014–02, proposing to 

amend the voting requirements to: Raise, lower, add 

and eliminate fees, and amend the capacity 

planning process. 

7The Notice stated that the amendment changed 

the vote requirement for establishing procedures to 

select a new processor from unanimity to a twothirds majority vote. However, the Commission has 

been informed by the attorney for the UTP Plan that 

the Participants did not vote on this change, 

therefore, the change is not included in this order. 

Email from Steven J. Abrams to Katherine A. 

England, SEC, dated October 28, 2014. 

III. Ordering Paragraphs 

It is ordered: 

1. The Commission establishes Docket 

Nos. MC2015–5 and CP2015–6 to 

consider the matters raised in each 

docket. 

2. Pursuant to 39 U.S.C. 505, 

Lyudmila Y. Bzhilyanskaya is appointed 

to serve as an officer of the Commission 

to represent the interests of the general 

public in these proceedings (Public 

Representative). 

3. Comments are due no later than 

November 4, 2014. 

4. The Secretary shall arrange for 

publication of this order in the Federal 

Register. 

By the Commission. 

Shoshana M. Grove, 

Secretary. 

[FR Doc. 2014–25981 Filed 10–31–14; 8:45 am] 

BILLING CODE 7710–FW–P 

POSTAL SERVICE 

Board of Governors; Sunshine Act 

Meeting 

DATES AND TIMES: Wednesday, 

November 12, 2014, at 9:30 a.m.; 

Thursday, November 13, 2014, at 9:30 

a.m.; and Friday, November 14, at 8:30 

a.m. and 10:00 a.m. 

PLACE: Washington, DC, at U.S. Postal 

Service Headquarters, 475 L’Enfant 

Plaza, SW., in the Benjamin Franklin 

Room. 

STATUS: Wednesday, November 12, at 

9:30 a.m.—Closed, Thursday, November 

13, at 9:30 a.m.—Closed; Friday, 

November 14, at 8:30 a.m.—Open; and 

at 10:00 a.m.—Closed. 

MATTERS TO BE CONSIDERED: 

Wednesday, November 12, at 9:30 a.m. 

(Closed) 

1. Financial Matters. 

2. Personnel Matters and 

Compensation Issues. 

Thursday, November 13, at 9:30 a.m. 

(Closed) 

1. Strategic Issues. 

2. Financial Matters. 

3. Pricing. 

4. Personnel Matters and 

Compensation Issues. 

5. Governors’ Executive Session— 

Discussion of prior agenda items and 

Board Governance. 

Friday, November 14, at 8:30 a.m. 

(Open) 

1. Remarks of the Chairman of the 

Board. 

2. Remarks of the Postmaster General 

and CEO. 

3. Approval of Minutes of Previous 

Meetings. 

4. Committee Reports. 

5. FY2014 10K and Financial 

Statements. 

6. FY2015 IFP and Financing 

Resolution. 

7. FY2016 Appropriations Request. 

8. Quarterly Service Performance 

Report. 

9. Approval of Annual Report and 

Comprehensive Statement. 

10. Tentative Agenda for the January 

7, 2015, via teleconference. 

11. Election of Chairman and Vice 

Chairman of the Board of Governors. 

Friday, November 14, at 10:00 a.m. 

(Closed—if needed) 

1. Continuation of Thursday’s closed 

session agenda. 

CONTACT PERSON FOR FURTHER

INFORMATION: Julie S. Moore, Secretary 

of the Board, U.S. Postal Service, 475 

L’Enfant Plaza SW., Washington, DC 

20260–1000. Telephone: (202) 268– 

4800. 

Julie S. Moore, 

Secretary. 

[FR Doc. 2014–26109 Filed 10–30–14; 11:15 am] 

BILLING CODE 7710–12–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73448; File No. S7–24–89] 

Joint Industry Plan; Order Approving 

Amendment No. 32 to the Joint SelfRegulatory Organization Plan 

Governing the Collection, 

Consolidation and Dissemination of 

Quotation and Transaction Information 

for Nasdaq-Listed Securities Traded on 

Exchanges on an Unlisted Trading 

Privileges Basis Submitted by the 

BATS Exchange, Inc., BATS YExchange, Inc., Chicago Board 

Options Exchange, Incorporated, 

Chicago Stock Exchange, Inc., EDGA 

Exchange, Inc., EDGX Exchange, Inc., 

Financial Industry Regulatory 

Authority, Inc., International Securities 

Exchange LLC, NASDAQ OMX BX, Inc., 

NASDAQ OMX PHLX, Inc., Nasdaq 

Stock Market LLC, National Stock 

Exchange, Inc., New York Stock 

Exchange LLC, NYSE Arca, Inc., and 

NYSE MKT, LLC 

October 28, 2014. 

I. Introduction 

On September 12, 2014, the Chicago 

Board Options Exchange, Incorporated, 

on behalf of the Participants 1 in the 

Joint Self-Regulatory Organization Plan 

Governing the Collection, 

Consolidation, and Dissemination of 

Quotation and Transaction Information 

for Nasdaq-Listed Securities Traded on 

Exchanges on an Unlisted Trading 

Privileges Basis (‘‘Nasdaq/UTP Plan’’ or 

‘‘Plan’’) filed with the Securities and 

Exchange Commission (‘‘Commission’’) 

pursuant to Rule 608 2 under the 

Securities Exchange Act of 1934 

(‘‘Act’’) 3 a proposal to amend the Plan 4

to change certain of the voting 

requirements under the Plan. The 

proposed amendment was published for 

comment in the Federal Register on 

October 6, 2014.5 No comment letters 

were received in response to the Notice. 

This order approves the proposal. 

II. Description of the Proposal 

The amendment proposes to change 

certain of the voting requirements under 

the Plan to harmonize the voting 

requirements under the Plan with the 

voting requirements under the CTA Plan 

and the CQ Plan.6

This amendment revises the following 

voting requirements: 7

• The voting requirement to eliminate 

an existing fee or to reduce an existing 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 79, No. 212 / Monday, November 3, 2014 / Notices 65263 

8The Commission has considered the proposed 

amendment’s impact on efficiency, competition, 

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

9 15 U.S.C. 78k–1(a)(1). 

10 17 CFR 240.608. 

11 15 U.S.C. 78k–1. 

12 17 CFR 240.608. 

13 17 CFR 200.30–3(a)(27). 

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

2 17 CFR 240.19b–4. 

fee, from unanimity to the affirmative 

vote of two-thirds of all Participants 

entitled to vote; 

• the voting requirement to request 

system changes other than those related 

to the processor function from a 

unanimous vote to the affirmative vote 

of a majority of all Participants entitled 

to vote; 

• establishes as the voting 

requirement to select a new processor— 

the affirmative vote of two-thirds of all 

Participants entitled to vote; 

• the default voting requirement from 

unanimity to the affirmative vote of a 

majority of all Participants entitled to 

vote. 

III. Discussion 

After careful review, the Commission 

finds that the proposed amendment to 

the Plan is consistent with the 

requirements of the Act and the rules 

and regulations thereunder,8 and, in 

particular, Section 11A(a)(1) of the Act 9

and Rule 608 thereunder 10 in that they 

are necessary or appropriate in the 

public interest, for the protection of 

investors and the maintenance of fair 

and orderly markets, to remove 

impediments to, and perfect the 

mechanisms of, a national market 

system. 

A. Fee Setting 

Amending the voting requirements, as 

proposed by the Participants, should 

provide the Participants with greater 

flexibility to accomplish the goals of the 

Plan. The change with respect to 

eliminating a fee and reducing a fee 

would harmonize the voting 

requirement with the counterpart voting 

requirements under the CTA Plan and 

the CQ Plan. Changes with respect to 

reducing a fee would also harmonize the 

Plan with counterpart voting 

requirement under the OPRA Plan. 

These changes to the voting 

requirements should provide the 

Participants with greater flexibility 

when amending the Plan’s fee schedule. 

B. System Changes 

The change with respect to system 

changes subjects all system changes to 

the same voting requirement, thereby 

providing Participants greater flexibility 

and making it easier for the Participants 

to arrive at decisions regarding 

necessary system upgrades and changes. 

The Commission notes that the CTA 

Plan, the CQ Plan, and the OPRA Plan 

all require a majority vote for decisions 

relating to system changes. 

C. Processor Selection 

The Commission believes that a twothirds majority vote, rather than 

unanimity, should facilitate decisionmaking regarding the selection of a 

processor. 

D. Default Voting Requirement 

Changing the default voting 

requirement to the affirmative vote of a 

majority of Participants, from a 

unanimous vote should provide greater 

flexibility and facilitate the Participants’ 

ability to take action under the Plan. 

The Commission notes that the CTA 

Plan, the CQ Plan, and the OPRA Plan 

require majority votes to act on matters 

for which those plans do not specify a 

voting requirement. Thus, the change 

harmonizes requirements under the 

Plan with corresponding requirements 

under the CTA Plan, the CQ Plan, and 

the OPRA Plan. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 11A of the Act,11 and Rule 608 

thereunder,12 that the proposed 

amendment to Nasdaq/UTP Plan (File 

No. S7–24–89) is approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–26008 Filed 10–31–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73450; File No. SR–CBOE– 

2014–081] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change Relating to Functionality 

of Public Automated Routing System 

October 28, 2014. 

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 October 

15, 2014, Chicago Board Options 

Exchange, Incorporated (the ‘‘Exchange’’ 

or ‘‘CBOE’’) filed with the Securities 

and Exchange Commission (the 

‘‘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 proposes to adopt Rule 

6.12A (Public Automated Routing 

System (PAR)) to describe the 

functionality of the PAR workstation. 

The text of the proposed rule change is 

below and in Exhibit 1 (additions are 

italicized; deletions are [bracketed]). 

* * * * * 

Chicago Board Options Exchange, 

Incorporated Rules 

* * * * * 

Rule 6.12. Reserved 

* * * * * 

6.12A. Public Automated Routing 

System (PAR) 

Rule 6.12A. The PAR workstation 

(PAR) is an Exchange-provided order 

management tool for use on the 

Exchange’s trading floor by Trading 

Permit Holders or Exchange PAR 

Officials (see Rule 7.12 for a description 

of the responsibilities of PAR Officials). 

The Exchange’s Order Handling System 

allows for orders to be routed to and 

from PAR in accordance with TPH and 

Exchange order routing parameters and 

the Rules including, but not limited to, 

this Rule 6.12A and Chapters VI, VII, 

and VIII of the Rules and Rules 6.2B, 

6.13, 6.14B, 6.53, 6.53C, 6.74, 7.12, and 

8.51 thereunder. 

(a) Order Routing. Eligible orders will 

be routed to PAR in accordance with 

TPH and Exchange order routing 

parameters and the order’s terms. 

(b) Order Handling. Once an order is 

on PAR, the order shall be processed in 

accordance with the manual or 

automatic settings established by the 

user and the order’s terms. Subject to 

the forgoing, once an order is on PAR, 

the user may: 

(i) Submit the order into the Hybrid 

Trading System (including for execution 

against quotes and orders resting in the 

electronic book and exposure to 

appropriate electronic auctions 

pursuant to Rules 6.13A, 6.14A, 6.53C, 

6.74B, and 24B.5B); 

(ii) Execute the order in open outcry, 

including against other orders on PAR 

and with other TPHs or PAR Officials in 

accordance with Rules 6.74 and 7.12; 

(iii) Route the order to an Order 

Management Terminal (OMT) 

mstockstill on DSK4VPTVN1PROD with NOTICES