Federal Register / Vol. 79, No. 241 / Tuesday, December 16, 2014 / Notices 74783 

4The staff notes that a few of these 18 registered 

national securities exchanges only have rules to 

permit the listing of standardized options, which 

are exempt from Rule 12d2–2 under the Act. 

Nevertheless, we have counted national securities 

exchanges that can only list options as potential 

respondents because these exchanges could 

potentially adopt new rules, subject to Commission 

approval under Section 19(b) of the Act, to list and 

trade equity and other securities that have to 

comply with Rule 12d2–2 under the Act. Notice 

registrants that are registered as national securities 

exchanges solely for the purposes of trading 

securities futures products have not been counted 

since, as noted above, securities futures products 

are exempt from complying with Rule 12d-2–2 

under the Act and therefore do not have to file 

Form 25. 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 73512 

(Nov. 3, 2014), 79 FR 66442. 

4All comments on the proposed rule change, 

including Amendment No. 1, are available on the 

Commission’s Web site at: http://www.sec.gov/

comments/sr-nysearca-2014-107/

nysearca2014107.shtml. 

5 15 U.S.C. 78s(b)(2). 

12d2–2 and the Form 25, as applicable, 

the Commission would be unable to 

fulfill its statutory responsibilities. 

There are 18 national securities 

exchanges that could possibly be 

respondents complying with the 

requirements of the Rule and Form 25.4

The burden of complying with Rule 

12d2–2 and Form 25 is not evenly 

distributed among the exchanges, 

however, since there are many more 

securities listed on the New York Stock 

Exchange, the NASDAQ Stock Market, 

and NYSEMKT than on the other 

exchanges. However, for purposes of 

this filing, the Commission staff has 

assumed that the number of responses is 

evenly divided among the exchanges. 

Since approximately 690 responses 

under Rule 12d2–2 and Form 25 for the 

purpose of delisting and/or 

deregistration of equity securities are 

received annually by the Commission 

from the national securities exchanges, 

the resultant aggregate annual reporting 

hour burden would be, assuming on 

average one hour per response, 690 

annual burden hours for all exchanges 

(18 exchanges × an average of 38.3 

responses per exchange × 1 hour per 

response). In addition, since 

approximately 100 responses are 

received by the Commission annually 

from issuers wishing to remove their 

securities from listing and registration 

on exchanges, the Commission staff 

estimates that the aggregate annual 

reporting hour burden on issuers would 

be, assuming on average one reporting 

hour per response, 100 annual burden 

hours for all issuers (100 issuers × 1 

response per issuer × 1 hour per 

response). Accordingly, the total annual 

hour burden for all respondents to 

comply with Rule 12d2–2 is 790 hours 

(690 hours for exchanges + 100 hours 

for issuers). The related internal labor 

costs associated with these burden 

hours are $42,797.50 total ($36,397.50 

for exchanges ($52.75 per response × 

690 responses) and $6,400 for issuers 

($64 per response × 100 responses)). 

The collection of information 

obligations imposed by Rule 12d2–2 

and Form 25 are mandatory. The 

response will be available to the public 

and will not be kept confidential. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

The public may view background 

documentation for this information 

collection at the following Web site: 

www.reginfo.gov. Comments should be 

directed to: (i) Desk Officer for the 

Securities and Exchange Commission, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503, 

or by sending an email to: Shagufta_

Ahmed@omb.eop.gov; and (ii) Pamela 

Dyson, Acting Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington, 

DC 20549, or by sending an email to: 

PRA_Mailbox@sec.gov. Comments must 

be submitted to OMB within 30 days of 

this notice. 

Dated: December 10, 2014. 

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–29366 Filed 12–15–14; 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, December 18, 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 Stein, 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 and settlement of 

administrative proceedings; and 

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: December 11, 2014. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2014–29502 Filed 12–12–14; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73810; File No. SR– 

NYSEArca–2014–107] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Designation of a 

Longer Period for Commission Action 

on Proposed Rule Change, as Modified 

by Amendment No. 1 Thereto, To 

Reflect Changes to the Means of 

Achieving the Investment Objective 

Applicable to the Guggenheim 

Enhanced Short Duration ETF 

December 10, 2014. 

On October 21, 2014, NYSE Arca, Inc. 

(‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

reflect changes to the description of the 

measures the Adviser of the 

Guggenheim Enhanced Short Duration 

ETF will utilize to implement the fund’s 

investment objectives. On October 29, 

2014, the Exchange filed Amendment 

No. 1 to the proposed rule change. The 

proposed rule change was published for 

comment in the Federal Register on 

November 7, 2014.3 The Commission 

received one comment on the proposal.4

Section 19(b)(2) of the Act 5 provides 

that within 45 days of the publication of 

notice of the filing of a proposed rule 

change, or within such longer period up 

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74784 Federal Register / Vol. 79, No. 241 / Tuesday, December 16, 2014 / Notices 

6 Id. 

7 17 CFR 200.30–3(a)(31). 

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

2 17 CFR 240.19b–4. 

to 90 days as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding, or as to which the 

self-regulatory organization consents, 

the Commission shall either approve the 

proposed rule change, disapprove the 

proposed rule change, or institute 

proceedings to determine whether the 

proposed rule change should be 

disapproved. The 45th day after 

publication of the notice for this 

proposed rule change is December 22, 

2014. The Commission is extending this 

45-day time period. 

The Commission finds it appropriate 

to designate a longer period within 

which to take action on the proposed 

rule change so that it has sufficient time 

to consider this proposed rule change. 

Accordingly, the Commission, pursuant 

to Section 19(b)(2) of the Act,6

designates February 5, 2015, as the date 

by which the Commission shall either 

approve or disapprove, or institute 

proceedings to determine whether to 

disapprove, the proposed rule change 

(File No. SR–NYSEArca–2014–107) 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–29365 Filed 12–15–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73807; File No. SR– 

NASDAQ–2014–117] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Modify an 

Optional Subscriber Fee and Tiered 

Distribution Fee for ‘‘Enhanced’’ Data 

Displays (the ‘‘Enhanced Display 

Solution Fee’’) 

December 10, 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 November 

25, 2014, The NASDAQ Stock Market 

LLC (‘‘NASDAQ’’ or the ‘‘Exchange’’) 

filed with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I and II 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 modify an 

optional Subscriber fee and tiered 

Distribution fee for ‘‘Enhanced’’ data 

displays (the ‘‘Enhanced Display 

Solution Fee’’). 

The text of the proposed rule change 

is below; proposed new language is 

italicized; proposed deletions are in 

brackets. 

* * * * * 

7026. Distribution Models 

(a) Display Solutions 

(1) Enhanced Display[s] Solution 

(‘‘EDS’’) (optional delivery method) 

(A) The charges to be paid by 

Distributors for offering EDS 

S[s]ubscribers of NASDAQ Depth [data] 

Information [controlled display 

products along] with access to an API or 

similar solution shall be: 

Number of downstream EDS subscribers 

Monthly Enhanced Display Solution Fee per Distributor for the right to offer an [display products 

containing] API or similar solution*.

[1–299 users = $2,000/month. 

300–399 users = $3,000/month]. 

1–399 [400–499] users = $4,000/month. 

[500–599 users = $5,000/month. 

600–699 users = $6,000/month. 

700–799 users = $7,000/month. 

800–899 users = $8,000/month. 

900–999 users = $9,000/month]. 

400–999 users = $7,500/month. 

1,000 users or more = $15[0],000/month. 

* [Customers] Distributors that are subscribing to certain enterprise depth capped fees as described in NASDAQ Rule 7023(a)(1)(c) are exempt 

from this fee. 

(B) The monthly fee per Professional 

[or Non-Professional] EDS S[s]ubscriber 

for utilizing NASDAQ Level 2, NASDAQ 

TotalView or NASDAQ OpenView data 

on a [controlled display] product with 

access to an API or similar solution 

[through that display] is $74 per month 

for TotalView and Level 2 and $6 per 

month for OpenView. [the applicable 

NASDAQ TotalView or NASDAQ 

OpenView rates.] 

The monthly fee per Non-Professional 

EDS Subscriber for utilizing NASDAQ 

Level 2, NASDAQ TotalView or 

NASDAQ OpenView data on a product 

with access to an API or similar solution 

is the applicable NASDAQ Level 2, 

NASDAQ TotalView or NASDAQ 

OpenView rates. 

[The monthly fee per Professional or 

Non-Professional subscriber for utilizing 

the Level 2 data for NASDAQ-listed 

securities on a controlled display 

product with access to an API or similar 

solution through that display is the 

applicable NASDAQ TotalView rates.] 

[The monthly fee per Professional or 

Non-Professional subscriber for utilizing 

NASDAQ Level 2 data for NYSE, AMEX 

or regional listed securities on a 

controlled display product with access 

to an API or similar solution through 

that display is the applicable NASDAQ 

OpenView rates.] 

(C) EDS Enterprise License: EDS 

Distributors may elect to purchase an 

Enterprise License for $30,000 per 

month. Such Enterprise License shall 

entitle the EDS Distributor to distribute 

to an unlimited number of Professional 

EDS Subscribers for a monthly fee of 

$70 for TotalView and/or Level 2 and $6 

for OpenView, notwithstanding the fees 

set forth in subsection (B) above. 

(2) The term ‘‘[n]Non-[p]Professional’’ 

shall have the same meaning as set forth 

in NASDAQ Rule 7011(b). 

(3) The term ‘‘Distributor’’ shall have 

the same meaning as set forth in 

NASDAQ Rule 7019(c). 

(b)–(c) No change. 

* * * * * 

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