65436 Federal Register / Vol. 79, No. 213 / Tuesday, November 4, 2014 / Notices 

portfolios that may hold some equity securities, 

3,200 bond Funds that hold no equity securities, 

and 600 money market Funds, for a total of 10,000 

portfolios required to file Form N–PX. 

1Each participant executed the proposed 

amendment. The Participants are: BATS Exchange, 

Inc., BATS–Y Exchange, 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. 

2 15 U.S.C. 78k–1. 

3 17 CFR 242.608. 

4See Securities Exchange Act Release Nos. 10787 

(May 10, 1974), 39 FR 17799 (May 20, 1974) 

(declaring the CTA Plan effective); 15009 (July 28, 

1978), 43 FR 34851 (August 7, 1978) (temporarily 

authorizing the CQ Plan); and 16518 (January 22, 

1980), 45 FR 6521 (January 28, 1980) (permanently 

authorizing the CQ Plan). The most recent 

restatement of both Plans was in 1995. The CTA 

Plan, pursuant to which markets collect and 

disseminate last sale price information for nonNASDAQ listed securities, is a ‘‘transaction 

reporting plan’’ under Rule 601 under the Act, 17 

CFR 242.601, and a ‘‘national market system plan’’ 

under Rule 608 under the Act, 17 CFR 242.608. The 

CQ Plan, pursuant to which markets collect and 

disseminate bid/ask quotation information for listed 

securities, is a ‘‘national market system plan’’ under 

Rule 608 under the Act, 17 

5See Securities Exchange Act Release No. 73285 

(October 1, 2014), 79 FR 60555 (‘‘Notice’’). 

6The Commission has considered the proposed 

amendments’ impact on efficiency, competition, 

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

7 15 U.S.C. 78k–1(a)(1). 

8 17 CFR 240.608. 

are comprised of 6,200 portfolios 

holding equity securities and 3,800 

portfolios holding no equity securities. 

The staff estimates that portfolios 

holding no equity securities require 

approximately a 0.17 hour burden per 

response and those holding equity 

securities require 7.2 hours per 

response. The overall estimated annual 

burden is therefore approximately 

45,300 hours ((6,200 responses × 7.2 

hours per response for equity holding 

portfolios) + (3,800 responses × 0.17 

hours per response for non-equity 

holding portfolios)). Based on the 

estimated wage rate, the total cost to the 

industry of the hour burden for 

complying with Form N–PX would be 

approximately $14.5 million. 

The Commission also estimates that 

portfolios holding equity securities will 

bear an external cost burden of $1,000 

per portfolio to prepare and update 

Form N–PX. Based on this estimate, the 

Commission estimates that the total 

annualized cost burden for Form N–PX 

is $6.2 million (6,200 responses × 

$1,000 per response = $6,200,000). 

The collection of information under 

Form N–PX is mandatory. The 

information provided under the form is 

not kept confidential. An agency may 

not conduct or sponsor, and a person is 

not required to respond to, a collection 

of information unless it displays a 

currently valid OMB control number. 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information will have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information collected; and (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology. Consideration will be given 

to comments and suggestions submitted 

in writing within 60 days of this 

publication. 

Please direct your written comments 

to Thomas Bayer, Chief Information 

Officer, Securities and Exchange 

Commission, C/O Remi Pavlik-Simon, 

100 F Street NE., Washington, DC 

20549; or send an email to: PRA_

Mailbox@sec.gov. 

Dated: October 29, 2014. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–26129 Filed 11–3–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73457; File No. SR–CTA/ 

CQ–2014–02] 

Consolidated Tape Association; Order 

Approving the Twentieth Substantive 

Amendment to the Second 

Restatement of the Consolidated Tape 

Association Plan and Fourteenth 

Substantive Amendment to the 

Restated Consolidated Quotation Plan 

October 29, 2014. 

I. Introduction 

On August 6, 2014, the Chicago Board 

Options Exchange, Incorporated, on 

behalf of Participants in the Second 

Restatement of the Consolidated Tape 

Association (‘‘CTA’’) Plan and the 

Restated Consolidated Quotation (‘‘CQ’’) 

Plan (collectively the ‘‘Participants’’) 1

filed with the Securities and Exchange 

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

pursuant to Section 11A of the 

Securities Exchange Act of 1934 

(‘‘Act’’),2 and Rule 608 thereunder,3 a 

proposal to amend the Second 

Restatement of the CTA Plan and 

Restated CQ Plan (collectively, the 

‘‘Plans’’).4 The proposal represents the 

twentieth substantive amendment to the 

CTA Plan (‘‘Twentieth Amendment to 

the CTA Plan’’) and the fourteenth 

substantive amendment to the CQ Plan 

(‘‘Fourteenth Amendment to the CQ 

Plan’’), and reflects changes 

unanimously adopted by the 

Participants. The Twentieth 

Amendment to the CTA Plan and the 

Fourteenth Amendment to the CQ Plan 

(collectively ‘‘the Amendments’’) would 

amend the Plans to change certain 

voting requirements under the CTA Plan 

and the CQ Plan. The proposed 

Amendments were published for 

comment in the Federal Register on 

October 7, 2014.5 No comment letters 

were received in response to the Notice. 

This order approves the proposed 

Amendments to the Plans. 

II. Description of the Proposal 

The Amendments propose (a) to 

change the voting requirement for 

amending the capacity planning process 

under both the CTA Plan and the CQ 

Plan from a unanimous vote to the 

affirmative vote of a majority of all 

Participants entitled to vote, (b) to 

change the voting requirement for 

reducing a fee under both the CTA Plan 

and the CQ Plan from unanimity to the 

affirmative vote of two-thirds of all 

Participants entitled to vote, and (c) to 

change the voting requirement for 

establishing a new fee or to delete an 

existing fee under the CQ Plan from 

unanimity to the affirmative vote of twothirds of all Participants entitled to vote. 

III. Discussion 

After careful review, the Commission 

finds that the Amendments to the Plans 

are consistent with the requirements of 

the Act and the rules and regulations 

thereunder,6 and, in particular, Section 

11A(a)(1) of the Act 7 and Rule 608 

thereunder 8 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. The Commission believes a 

majority vote, rather than a unanimous 

vote, will provide the CTA and the CQ 

Plan’s Operating Committee greater 

flexibility to revise the capacity 

planning process when they find it 

beneficial to do so. The Commission 

notes that the Nasdaq/UTP Plan requires 

a majority vote to effect changes to the 

capacity planning process. 

Similarly, the Commission believes 

that a two-thirds majority vote to reduce 

or eliminate an existing fee or establish 


rmajette on DSK3VPTVN1PROD with NOTICES
Federal Register / Vol. 79, No. 213 / Tuesday, November 4, 2014 / Notices 65437 

9See Notice at 60555. 

10 15 U.S.C. 78k–1. 

11 17 CFR 200.30–3(a)(27). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4Commentary .02 to NYSE Arca Equities Rule 

8.200 applies to Trust Issued Receipts that invest 

in ‘‘Financial Instruments.’’ The term ‘‘Financial 

Instruments,’’ as defined in Commentary .02(b)(4) to 

NYSE Arca Equities Rule 8.200, means any 

combination of investments, including cash; 

securities; options on securities and indices; futures 

contracts; options on futures contracts; forward 

contracts; equity caps, collars and floors; and swap 

agreements. 

5The Trust submitted a registration statement 

with respect to the Fund on Form S–1 under the 

Securities Act of 1933 (‘‘1933 Act’’) on October 7, 

2014 (File No. 333–199190) (the ‘‘Registration 

Statement’’). The description of the Fund and the 

Shares contained herein are based, in part, on the 

Registration Statement. 

6See, e.g., Securities Exchange Act Release No. 

58161 (July 15, 2008), 73 FR 42380 (July 21, 2008) 

(SR–Amex–2008–39). 

7See, e.g., Securities Exchange Act Release No. 

58163 (July 15, 2008), 73 FR 42391 (July 21, 2008) 

(SR–NYSEArca–2008–73). 

8See, e.g., Securities Exchange Act Release No. 

70209 (August 15, 2013), 78 FR 51269 (June 24, 

2013) (SR–NYSEArca–2013–60); Securities 

Exchange Act Release No. 58457 (September 3, 

2008), 73 FR 52711 (September 10, 2008) (SR– 

NYSEArca–2008–91). 

a new fee should provide the 

Participants more flexibility to change 

fees. Current voting requirements for 

reducing or eliminating an existing fee 

or for establishing a new fee vary widely 

under the CTA and CQ Plans.9 The 

proposed Amendments harmonize 

requirements under the Plans for 

effecting fee-related changes. As a result 

of the proposed Amendments, both 

Plans would require a two-thirds vote to 

establish or increase a fee or to 

eliminate or reduce a fee. These changes 

would provide Participants with greater 

flexibility with respect to the Plans’ fee 

schedule. The changes would also 

harmonize voting requirements under 

the CTA Plan and the CQ Plan with 

corresponding requirements under the 

OPRA Plan. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 11A of the Act,10 and the rules 

thereunder, that the proposed 

Amendments to the CTA and CQ Plans 

are approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Kevin M. O’Neil, 

Deputy Secretary. 

[FR Doc. 2014–26119 Filed 11–3–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Public Law 94–409, that 

the Securities and Exchange 

Commission will hold a Closed Meeting 

on Thursday, November 6, 2014 at 2:00 

p.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

The General Counsel of the 

Commission, or her designee, has 

certified that, in her opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) 

and 17 CFR 200.402(a)(3), (5), (7), 9(ii) 

and (10), permit consideration of the 

scheduled matter at the Closed Meeting. 

Commissioner Piwowar, as duty 

officer, voted to consider the items 

listed for the Closed Meeting in closed 

session. 

The subject matter of the Closed 

Meeting will be: 

Institution and settlement of 

injunctive actions; 

Institution settlement of 

administrative proceedings; 

Adjudicatory matter; 

Other matters relating to enforcement 

proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have been 

added, deleted or postponed, please 

contact the Office of the Secretary at 

(202) 551–5400. 

Dated: October 30, 2014. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2014–26235 Filed 10–31–14; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73464; File No. SR– 

NYSEArca–2014–120] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing of Proposed 

Rule Change Relating to Listing and 

Trading Shares of the Sit Rising Rate 

Fund Under NYSE Arca Equities Rule 

8.200 

October 29, 2014. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on October 

16, 2014, NYSE Arca, Inc. (the 

‘‘Exchange’’ or ‘‘NYSE Arca’’) 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 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 list and 

trade shares of the Sit Rising Rate Fund 

under NYSE Arca Equities Rule 8.200. 

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 

NYSE Arca Equities Rule 8.200, 

Commentary .02 permits the trading of 

Trust Issued Receipts (‘‘TIRs’’) either by 

listing or pursuant to unlisted trading 

privileges (‘‘UTP’’).4 The Exchange 

proposes to list and trade shares 

(‘‘Shares’’) of the Sit Rising Rate Fund 

(‘‘Fund’’) pursuant to NYSE Arca 

Equities Rule 8.200. The Fund is a series 

of the ETF Managers Group Commodity 

Trust I (the ‘‘Trust’’), a Delaware 

statutory trust.5

The Exchange notes that the 

Commission has previously approved 

the listing and trading of other issues of 

TIRs on the American Stock Exchange 

LLC,6 trading on NYSE Arca pursuant to 

UTP,7 and listing on NYSE Arca.8 In 


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