Product List Change, 39276-39277 [2012-16054]

Download as PDF 39276 Federal Register / Vol. 77, No. 127 / Monday, July 2, 2012 / Notices consider the Request and the instant contract, respectively. Interested persons may submit comments on whether the Postal Service’s filings in these dockets are consistent with the policies of 39 U.S.C. 3632, 3633, or 3642, 39 CFR 3015.5, and 39 CFR part 3020, subpart B. Comments are due no later than July 3, 2012. The public portions of these filings can be accessed via the Commission’s Web site (https://www.prc.gov). The Commission appoints Natalie Rea Ward to serve as Public Representative in these dockets. III. Ordering Paragraphs It is ordered: 1. The Commission establishes Docket Nos. MC2012–28 and CP2012–37 to consider the matters raised in each docket. 2. Pursuant to 39 U.S.C. 505, Natalie Rea Ward is appointed to serve as an officer of the Commission (Public Representative) to represent the interests of the general public in these proceedings. 3. Comments by interested persons in these proceedings are due no later than July 3, 2012. 4. The Secretary shall arrange for publication of this order in the Federal Register. By the Commission. Ruth Ann Abrams, Acting Secretary. [FR Doc. 2012–16053 Filed 6–29–12; 8:45 am] BILLING CODE 7710–FW–P POSTAL REGULATORY COMMISSION [Docket Nos. MC2012–29 and CP2012–38; Order No. 1381] Product List Change Postal Regulatory Commission. Notice. AGENCY: ACTION: The Commission is noticing a recently-filed Postal Service request to add Express Mail and Priority Mail Contract 9 to the competitive product list. The Postal Service has also filed a related contract. This notice addresses procedural steps associated with these filings. SUMMARY: Comments are due: July 6, 2012. ADDRESSES: Submit comments electronically via the Commission’s Filing Online system at https:// www.prc.gov. Commenters who cannot submit their views electronically should contact the person identified in FOR FURTHER INFORMATION CONTACT by telephone for advice on alternatives to electronic filing. mstockstill on DSK4VPTVN1PROD with NOTICES DATES: VerDate Mar<15>2010 17:22 Jun 29, 2012 Jkt 226001 FOR FURTHER INFORMATION CONTACT: Stephen L. Sharfman, General Counsel at 202–789–6820. SUPPLEMENTARY INFORMATION: Table of Contents I. Introduction II. Notice of Filings III. Ordering Paragraphs I. Introduction In accordance with 39 U.S.C. 3642 and 39 CFR 3020.30 et seq., the Postal Service filed a formal request and associated supporting information to add Express Mail and Priority Mail Contract 9 to the competitive product list.1 The Postal Service asserts that Express Mail and Priority Mail Contract 9 is a competitive product ‘‘not of general applicability’’ within the meaning of 39 U.S.C. 3632(b)(3). Request at 1. The Request has been assigned Docket No. MC2012–29. The Postal Service contemporaneously filed a redacted contract related to the proposed new product under 39 U.S.C. 3632(b)(3) and 39 CFR 3015.5. Id. Attachment B. The instant contract has been assigned Docket No. CP2012–38. Request. To support its Request, the Postal Service filed six attachments as follows: • Attachment A—a redacted copy of Governors’ Decision No. 11–6, authorizing the new product; • Attachment B—a redacted copy of the contract; • Attachment C—proposed changes to the Mail Classification Schedule competitive product list with the addition underlined; • Attachment D—a Statement of Supporting Justification as required by 39 CFR 3020.32; • Attachment E—a certification of compliance with 39 U.S.C. 3633(a); and • Attachment F—an application for non-public treatment of materials to maintain redacted portions of the contract and related financial information under seal. In the Statement of Supporting Justification, Dennis R. Nicoski, Manager, Field Sales Strategy and Contracts, asserts that the contract will cover its attributable costs, make a positive contribution to covering institutional costs, and increase contribution toward the requisite 5.5 percent of the Postal Service’s total institutional costs. Id. Attachment D at 1 Request of the United States Postal Service to Add Express Mail & Priority Mail Contact 9 to Competitive Product List and Notice of Filing (Under Seal) of Unredacted Governors’ Decision Contract, and Supporting Data, June 21, 2012 (Request). PO 00000 Frm 00069 Fmt 4703 Sfmt 4703 1. Mr. Nicoski contends that there will be no issue of market dominant products subsidizing competitive products as a result of this contract. Id. Related contract. The Postal Service included a redacted version of the related contract with the Request. Id. Attachment B. The contract is scheduled to become effective on the day the Commission issues all necessary regulatory approval. Id. at 4. The contract will expire 3 years from the effective date unless, among other things, either party terminates the agreement upon 30 days’ written notice to the other party. Id. The Postal Service represents that the contract is consistent with 39 U.S.C. 3633(a). Id. Attachment D. The Postal Service filed much of the supporting materials, including the related contract, under seal. Id. Attachment F. It maintains that the redacted portions of the contract, customer-identifying information, and related financial information, should remain confidential. Id. at 3. This information includes the price structure, underlying costs and assumptions, pricing formulas, information relevant to the customer’s mailing profile, and cost coverage projections. Id. The Postal Service asks the Commission to protect customer-identifying information from public disclosure indefinitely. Id. at 7. II. Notice of Filings The Commission establishes Docket Nos. MC2012–29 and CP2012–38 to consider the Request pertaining to the proposed Express Mail and Priority Mail Contract 9 product and the related contract, respectively. Interested persons may submit comments on whether the Postal Service’s filings in the captioned dockets are consistent with the policies of 39 U.S.C. 3632, 3633, or 3642, 39 CFR 3015.5, and 39 CFR part 3020, subpart B. Comments are due no later than July 6, 2012. The public portions of these filings can be accessed via the Commission’s Web site (https:// www.prc.gov). The Commission appoints Natalie Rea Ward to serve as Public Representative in these dockets. III. Ordering Paragraphs It is ordered: 1. The Commission establishes Docket Nos. MC2012–29 and CP2012–38 to consider the matters raised in each docket. 2. Pursuant to 39 U.S.C. 505, Natalie Rea Ward is appointed to serve as officer of the Commission (Public Representative) to represent the E:\FR\FM\02JYN1.SGM 02JYN1 Federal Register / Vol. 77, No. 127 / Monday, July 2, 2012 / Notices interests of the general public in these proceedings. 3. Comments by interested persons in these proceedings are due no later than July 6, 2012. 4. The Secretary shall arrange for publication of this order in the Federal Register. By the Commission. Ruth Ann Abrams, Acting Secretary. [FR Doc. 2012–16054 Filed 6–29–12; 8:45 am] BILLING CODE 7710–FW–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–67256; File No. SR–BX– 2012–030] Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Order Granting Approval of a Proposed Rule Change, as Modified by Amendment Nos. 1 and 2, Relating to the Establishment of a New Options Market, NASDAQ OMX BX Options June 26, 2012. I. Introduction On May 1, 2012, NASDAQ OMX BX, Inc. (‘‘Exchange’’ or ‘‘BX’’) filed with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 to adopt rules governing the trading of options on NASDAQ OMX BX Options (‘‘BX Options’’), which will be an options trading facility of the Exchange. On May 8, 2012, BX filed Amendment No. 1 to the proposed rule change.3 The proposed rule change, as modified by Amendment No. 1, was published for comment in the Federal Register on May 18, 2012.4 The Commission received one comment letter on the proposal.5 The Exchange responded to the comment letter on June 15, 2012.6 On June 22, 2012, BX filed Amendment 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Amendment No. 1 made several technical and clarifying changes to the proposal, as well as minor changes to the definition of the terms ‘‘primary market’’ and ‘‘Intermarket Sweep Order.’’ 4 See Securities Exchange Act Release No. 66983 (May 14, 2012), 77 FR 29730. (‘‘Notice’’). 5 See Letter from Edward T. Tilly, President and Chief Operating Officer, Chicago Board Options Exchange, Incorporated (‘‘CBOE’’), to Elizabeth M. Murphy, Secretary, Commission, dated June 5, 2012 (‘‘CBOE Letter’’). 6 See Letter from Thomas Wittman, Senior Vice President, NASDAQ OMX, to Elizabeth M. Murphy, Secretary, Commission, dated June 15, 2012 (‘‘BX Response’’). mstockstill on DSK4VPTVN1PROD with NOTICES 2 17 VerDate Mar<15>2010 17:22 Jun 29, 2012 Jkt 226001 No. 2 to the proposed rule change.7 This order approves the proposed rule change, as modified by Amendment Nos. 1 and 2 thereto. II. Discussion and Commission Findings After careful review of the proposal, as modified by Amendment Nos. 1 and 2, and consideration of the comment letter and the Exchange’s response thereto, the Commission finds that the proposed rule change, as modified by Amendment Nos. 1 and 2, is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange.8 Specifically, the Commission finds that the proposal is consistent with Section 6(b)(5) of the Act,9 which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices; to promote just and equitable principles of trade; to foster cooperation and coordination with persons engaged in regulating, clearing, settling, and processing information with respect to, and facilitating transactions in securities; 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. Section 6(b)(5) also requires that the rules of an exchange not be designed to permit unfair discrimination among customers, issuers, brokers, or dealers. Further, the Commission finds that the proposal is consistent with Sections 6(b)(1) of the Act,10 which requires, among other things, that a national securities exchange be so organized and have the capacity to carry out the purposes of the Act, and to comply and enforce compliance by its members and persons associated with its members, with the provisions of the Act, the rules and regulation thereunder, and the rules of the exchange. This discussion does not review every detail of the proposal, but focuses on the most significant rules and policy issues considered in review of the proposal. 7 Amendment No. 2 clarified the Exchange’s status with respect to its participation in various national market system plans, and clarified representations with respect to its regulatory agreements. Because Amendment No. 2 is technical in nature, the Commission is not required to publish it for public comment. 8 In approving this proposed rule change, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 9 15 U.S.C. 78f(b)(5). 10 15 U.S.C. 78f(b)(1). PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 39277 A. BX Options Participants BX Options will operate a fully automated electronic trading system for trading options (‘‘System’’ or ‘‘BX Options System’’).11 BX Options will have only one category of members, known as ‘‘Options Participants’’ or ‘‘Participants.’’ 12 Only Options Participants will be permitted to transact business on the BX Options System.13 There will be two categories of Options Participants: (1) Options Order Entry Firms (‘‘OEFs’’) and (2) Options Market Makers. An Options Participant must be a member of the Exchange and another registered options exchange that is not registered solely under Section 6(g) of the Act 14 or the Financial Industry Regulatory Authority (‘‘FINRA’’).15 Further, an OEF may only transact business with public customers if such Options Participant also is a member of another registered national securities exchange or association with which the Exchange has entered into an agreement under Rule 17d–2 under the Act pursuant to which such other exchange or association shall be the designated options examining authority for the OEF.16 In addition, Options Participants that transact business with Public Customers must at all times be members of FINRA.17 Among other things, each Options Participant must be registered as a broker-dealer and have as the principal purpose of being an Options Participant the conduct of a securities business, which shall be deemed to exist if and so 11 The proposed rules of BX Options are based on, and virtually identical to, the rules of the NASDAQ Options Market (‘‘NOM’’), the options trading facility of The NASDAQ Stock Market LLC (‘‘NASDAQ’’). See Notice, supra note 4, at 29731. 12 The term ‘‘Options Participant’’ or ‘‘Participant’’ means a firm, or organization that is registered with the Exchange pursuant to Chapter II of BX Options proposed rules for purposes of participating in options trading on BX Options as a BX Options Order Entry Firm or BX Options Market Maker. See proposed BX Options Rules, Chapter I, Section 1(a)(41). All BX members will be eligible to participate in BX Options provided that BX specifically authorizes them to trade in the System and they become Options Participants. Existing BX members that will become Options Participants will be required to comply with the incremental requirements of the proposed BX Options Rules. New BX members will be required to fulfill the requirements of the BX Rule 1000 Series to become a BX member as well as the incremental requirements set forth in the proposed BX Options Rules to become an Options Participant. 13 See proposed BX Options Rules, Chapter II and Chapter V, Section 1. 14 15 U.S.C. 78f(g). 15 See proposed BX Options Rules, Chapter II, Section 2(f). 16 See proposed BX Options Rules, Chapter XI, Section 1. 17 See proposed BX Options Rules, Chapter II, Section 2(f). E:\FR\FM\02JYN1.SGM 02JYN1

Agencies

POSTAL REGULATORY COMMISSION

[Federal Register Volume 77, Number 127 (Monday, July 2, 2012)]
[Notices]
[Pages 39276-39277]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-16054]


-----------------------------------------------------------------------

POSTAL REGULATORY COMMISSION

[Docket Nos. MC2012-29 and CP2012-38; Order No. 1381]


Product List Change

AGENCY: Postal Regulatory Commission.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Commission is noticing a recently-filed Postal Service 
request to add Express Mail and Priority Mail Contract 9 to the 
competitive product list. The Postal Service has also filed a related 
contract. This notice addresses procedural steps associated with these 
filings.

DATES: Comments are due: July 6, 2012.

ADDRESSES: Submit comments electronically via the Commission's Filing 
Online system at https://www.prc.gov. Commenters who cannot submit their 
views electronically should contact the person identified in FOR 
FURTHER INFORMATION CONTACT by telephone for advice on alternatives to 
electronic filing.

FOR FURTHER INFORMATION CONTACT: Stephen L. Sharfman, General Counsel 
at 202-789-6820.

SUPPLEMENTARY INFORMATION:

Table of Contents

I. Introduction
II. Notice of Filings
III. Ordering Paragraphs

I. Introduction

    In accordance with 39 U.S.C. 3642 and 39 CFR 3020.30 et seq., the 
Postal Service filed a formal request and associated supporting 
information to add Express Mail and Priority Mail Contract 9 to the 
competitive product list.\1\ The Postal Service asserts that Express 
Mail and Priority Mail Contract 9 is a competitive product ``not of 
general applicability'' within the meaning of 39 U.S.C. 3632(b)(3). 
Request at 1. The Request has been assigned Docket No. MC2012-29.
---------------------------------------------------------------------------

    \1\ Request of the United States Postal Service to Add Express 
Mail & Priority Mail Contact 9 to Competitive Product List and 
Notice of Filing (Under Seal) of Unredacted Governors' Decision 
Contract, and Supporting Data, June 21, 2012 (Request).
---------------------------------------------------------------------------

    The Postal Service contemporaneously filed a redacted contract 
related to the proposed new product under 39 U.S.C. 3632(b)(3) and 39 
CFR 3015.5. Id. Attachment B. The instant contract has been assigned 
Docket No. CP2012-38.
    Request. To support its Request, the Postal Service filed six 
attachments as follows:
     Attachment A--a redacted copy of Governors' Decision No. 
11-6, authorizing the new product;
     Attachment B--a redacted copy of the contract;
     Attachment C--proposed changes to the Mail Classification 
Schedule competitive product list with the addition underlined;
     Attachment D--a Statement of Supporting Justification as 
required by 39 CFR 3020.32;
     Attachment E--a certification of compliance with 39 U.S.C. 
3633(a); and
     Attachment F--an application for non-public treatment of 
materials to maintain redacted portions of the contract and related 
financial information under seal.
    In the Statement of Supporting Justification, Dennis R. Nicoski, 
Manager, Field Sales Strategy and Contracts, asserts that the contract 
will cover its attributable costs, make a positive contribution to 
covering institutional costs, and increase contribution toward the 
requisite 5.5 percent of the Postal Service's total institutional 
costs. Id. Attachment D at 1. Mr. Nicoski contends that there will be 
no issue of market dominant products subsidizing competitive products 
as a result of this contract. Id.
    Related contract. The Postal Service included a redacted version of 
the related contract with the Request. Id. Attachment B. The contract 
is scheduled to become effective on the day the Commission issues all 
necessary regulatory approval. Id. at 4. The contract will expire 3 
years from the effective date unless, among other things, either party 
terminates the agreement upon 30 days' written notice to the other 
party. Id. The Postal Service represents that the contract is 
consistent with 39 U.S.C. 3633(a). Id. Attachment D.
    The Postal Service filed much of the supporting materials, 
including the related contract, under seal. Id. Attachment F. It 
maintains that the redacted portions of the contract, customer-
identifying information, and related financial information, should 
remain confidential. Id. at 3. This information includes the price 
structure, underlying costs and assumptions, pricing formulas, 
information relevant to the customer's mailing profile, and cost 
coverage projections. Id. The Postal Service asks the Commission to 
protect customer-identifying information from public disclosure 
indefinitely. Id. at 7.

II. Notice of Filings

    The Commission establishes Docket Nos. MC2012-29 and CP2012-38 to 
consider the Request pertaining to the proposed Express Mail and 
Priority Mail Contract 9 product and the related contract, 
respectively.
    Interested persons may submit comments on whether the Postal 
Service's filings in the captioned dockets are consistent with the 
policies of 39 U.S.C. 3632, 3633, or 3642, 39 CFR 3015.5, and 39 CFR 
part 3020, subpart B. Comments are due no later than July 6, 2012. The 
public portions of these filings can be accessed via the Commission's 
Web site (https://www.prc.gov).
    The Commission appoints Natalie Rea Ward to serve as Public 
Representative in these dockets.

III. Ordering Paragraphs

    It is ordered:
    1. The Commission establishes Docket Nos. MC2012-29 and CP2012-38 
to consider the matters raised in each docket.
    2. Pursuant to 39 U.S.C. 505, Natalie Rea Ward is appointed to 
serve as officer of the Commission (Public Representative) to represent 
the

[[Page 39277]]

interests of the general public in these proceedings.
    3. Comments by interested persons in these proceedings are due no 
later than July 6, 2012.
    4. The Secretary shall arrange for publication of this order in the 
Federal Register.

    By the Commission.
Ruth Ann Abrams,
Acting Secretary.
[FR Doc. 2012-16054 Filed 6-29-12; 8:45 am]
BILLING CODE 7710-FW-P

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