Federal Register / Vol. 79, No. 234 / Friday, December 5, 2014 / Notices 72235 

23 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The Penny Pilot was established in March 2008 

and in October 2009 was expanded and extended 

through December 31, 2014. See Securities 

Exchange Act Release Nos. 57579 (March 28, 2008), 

73 FR 18587 (April 4, 2008) (SR–NASDAQ–2008– 

026) (notice of filing and immediate effectiveness 

establishing Penny Pilot); 60874 (October 23, 2009), 

74 FR 56682 (November 2, 2009) (SR–NASDAQ– 

2009–091) (notice of filing and immediate 

effectiveness expanding and extending Penny 

Pilot); 60965 (November 9, 2009), 74 FR 59292 

(November 17, 2009) (SR–NASDAQ–2009–097) 

(notice of filing and immediate effectiveness adding 

seventy-five classes to Penny Pilot); 61455 

(February 1, 2010), 75 FR 6239 (February 8, 2010) 

(SR–NASDAQ–2010–013) (notice of filing and 

immediate effectiveness adding seventy-five classes 

to Penny Pilot); 62029 (May 4, 2010), 75 FR 25895 

(May 10, 2010) (SR–NASDAQ–2010–053) (notice of 

filing and immediate effectiveness adding seventyfive classes to Penny Pilot); 65969 (December 15, 

2011), 76 FR 79268 (December 21, 2011) (SR– 

NASDAQ–2011–169) (notice of filing and 

immediate effectiveness extension and replacement 

of Penny Pilot); 67325 (June 29, 2012), 77 FR 40127 

(July 6, 2012) (SR–NASDAQ–2012–075) (notice of 

filing and immediate effectiveness and extension 

and replacement of Penny Pilot through December 

31, 2012); 68519 (December 21, 2012), 78 FR 136 

(January 2, 2013) (SR–NASDAQ–2012–143) (notice 

of filing and immediate effectiveness and extension 

and replacement of Penny Pilot through June 30, 

2013); 69787 (June 18, 2013), 78 FR 37858 (June 24, 

2013) (SR–NASDAQ–2013–082) (notice of filing 

and immediate effectiveness and extension and 

replacement of Penny Pilot through December 31, 

2013); 71105 (December 17, 2013), 78 FR 77530 

(December 23, 2013) (SR–NASDAQ–2013–154) 

(notice of filing and immediate effectiveness and 

extension and replacement of Penny Pilot through 

June 30, 2014); and 79 FR 31151 (May 23, 2014), 

79 FR 31151 (May 30, 2014) (SR–NASDAQ–2014– 

056) ((notice of filing and immediate effectiveness 

and extension and replacement of Penny Pilot 

through December 31, 2014). See also NOM Rules, 

Chapter VI, Section 5. 

4The term ‘‘Customer’’ applies to any transaction 

that is identified by a Participant for clearing in the 

Customer range at The Options Clearing 

Corporation (‘‘OCC’’) which is not for the account 

of broker or dealer or for the account of a 

‘‘Professional’’ (as that term is defined in Chapter 

I, Section 1(a)(48)). 

5The term ‘‘Professional’’ means any person or 

entity that (i) is not a broker or dealer in securities, 

and (ii) places more than 390 orders in listed 

options per day on average during a calendar month 

for its own beneficial account(s) pursuant to 

Chapter I, Section 1(a)(48). All Professional orders 

shall be appropriately marked by Participants. 

6The term ‘‘NOM Market Maker’’ means a 

Participant that has registered as a Market Maker on 

NOM pursuant to Chapter VII, Section 2, and must 

also remain in good standing pursuant to Chapter 

VII, Section 4. In order to receive NOM Market 

Maker pricing in all securities, the Participant must 

be registered as a NOM Market Maker in at least one 

security. 

7Participants that add Customer, Professional, 

Firm, Non-NOM Market Maker and/or BrokerDealer liquidity in Penny Pilot Options and/or NonPenny Pilot Options of 1.25% or more of national 

customer volume in multiply-listed equity and ETF 

options classes in a month will receive an 

additional $0.02 per contract Penny Pilot Options 

Customer Rebate to Add Liquidity for each 

transaction which adds liquidity in Penny Pilot 

Options in that month. 

8 15 U.S.C. 78f(b). 

9 15 U.S.C. 78f(b)(5). 

For the Commission, pursuant to delegated 

authority.23

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–28548 Filed 12–4–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73713; File No. SR– 

NASDAQ–2014–113] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to an 

Amendment To Conform Rule Text 

December 1, 2014. 

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 November 

18, 2014, The NASDAQ Stock Market 

LLC (‘‘NASDAQ’’ or ‘‘Exchange’’) filed 

with the Securities and Exchange 

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

the proposed rule change as described 

in Items I, II, and III below, which Items 

have been prepared by NASDAQ. 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 

NASDAQ proposes to modify Chapter 

XV, entitled ‘‘Options Pricing,’’ at 

Section 2 governing pricing for 

NASDAQ members using the NASDAQ 

Options Market (‘‘NOM’’), NASDAQ’s 

facility for executing and routing 

standardized equity and index options. 

Specifically, NOM proposes to 

conform certain language related to 

Penny Pilot Options3 rebates currently 

applicable to Customers,4 Professionals5

and NOM Market Makers.6

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://

www.nasdaq.cchwallstreet.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 aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of the proposed rule 

change is to conform rule text in 

Chapter XV, entitled ‘‘Options Pricing,’’ 

at Section 2(1) governing the rebates and 

fees assessed for options orders entered 

into NOM. Specifically, the Exchange 

proposes to amend rule text describing 

the volume required to qualify for 

certain Customer and Professional 

Penny Pilot Options Rebate to Add 

Liquidity tiers and also certain NOM 

Market Maker Penny Pilot Options 

Rebate to Add Liquidity tiers. 

With respect to the Customer and 

Professional Tier 8 Penny Pilot Options 

Rebate to Add Liquidity, the NOM 

Market Maker Tier 6 Penny Pilot 

Options Rebate to Add Liquidity and 

the $0.02 per contract Tier 8 incentive 

for the Customer and Professional 

Penny Pilot Options Rebate to Add 

Liquidity,7 the Exchange proposes to 

amend the language which describes the 

required national customer volume in 

multiply-listed equity and ETF options 

classes in a month in these sections. The 

Exchange is proposing to conform this 

language with current rule text which 

describes total industry customer equity 

and ETF option average daily volume 

(‘‘ADV’’) contracts per day in a month. 

This proposed amendment is nonsubstantive as the two concepts are not 

different. The Exchange is proposing to 

conform the language to avoid 

confusion. This amendment will not 

amend the manner in which those 

rebates are paid today. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act 8 in general, and furthers the 

objectives of Section 6(b)(5) of the Act 9

in particular, in that it is designed to 

promote just and equitable principles of 

trade, 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, in that 


wreier-aviles on DSK5TPTVN1PROD with NOTICES
72236 Federal Register / Vol. 79, No. 234 / Friday, December 5, 2014 / Notices 

10 15 U.S.C. 78s(b)(3)(a)(ii). 

11 17 CFR 240.19b–4(f)(6). 12 17 CFR 200.30–3(a)(12). 

the amendments will provide greater 

clarity to the pricing of these options. 

The Exchange believes that the 

amendments provide greater specificity 

and conform word usage with respect to 

rebates and incentives offered by NOM. 

The Exchange is not proposing to 

amend the pricing, rather the Exchange 

believes the amendments make clear 

that the terms national customer volume 

and total industry volume are 

equivalent. 

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 Act. The 

amendments to the options pricing are 

non-substantive and merely seek to 

conform rule text to make clear that the 

same standard of measure is being 

applied to determine the qualifications 

for the volume tiers and incentives. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

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)(ii) of the Act 10 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.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: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) 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. The 

Exchange has provided the Commission 

written notice of its intent to file the 

proposed rule change, along with a brief 

description and text of the proposed 

rule change, at least five business days 

prior to the date of filing of the 

proposed rule change. 

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 rule-comments@

sec.gov. Please include File Number SR– 

NASDAQ–2014–113 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–2014–113. 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 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– 

NASDAQ–2014–113, and should be 

submitted on or before December 26, 

2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–28584 Filed 12–4–14; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Data Collection Available for Public 

Comments 

ACTION: 60-Day notice and request for 

comments. 

SUMMARY: The Small Business 

Administration (SBA) intends to request 

approval, from the Office of 

Management and Budget (OMB) for the 

collection of information described 

below. The Paperwork Reduction Act 

(PRA) of 1995, 44 U.S.C. Chapter 35 

requires federal agencies to publish a 

notice in the Federal Register 

concerning each proposed collection of 

information before submission to OMB, 

and to allow 60 days for public 

comment in response to the notice. This 

notice complies with that requirement. 

DATES: Submit comments on or before 

February 3, 2015. 

ADDRESSES: Send all comments to Craig 

Heilman, Director of Veteran Programs, 

Office of Veteran Business 

Development, Small Business 

Administration, 409 3rd Street, 5th 

Floor, Washington, DC 20416. 

FOR FURTHER INFORMATION CONTACT: 

Tyrenna Tolbert, Program Support 

Specialist, Office of Veteran Business 

Development, tyrenna.tolbert@sba.gov, 

202–205–7526, or Curtis B. Rich, 

Management Analyst, 202–205–7030, 

curtis.rich@sba.gov. 

SUPPLEMENTARY INFORMATION: Boots to 

Business is an entrepreneurial 

education initiative offered by the U.S. 

Small Business Administration (SBA) as 

a career track within the Department of 

Defense’s revised Training Assistance 

Program called Transition Goals, Plans, 

Success (Transition GPS). The 

curriculum provides valuable assistance 

to transitioning service members 

exploring self-employment 

opportunities by leading them through 

the key steps for evaluating business 

concepts and the foundational 

knowledge required for developing a 

business plan. Participants are also 

introduced to SBA resources available 

to help access startup capital and 

additional technical assistance. 

This form facilitates online 

registration for the Boots to Business 


wreier-aviles on DSK5TPTVN1PROD with NOTICES