New Postal Product, 55125-55126 [2013-21794]
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tkelley on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 78, No. 174 / Monday, September 9, 2013 / Notices
• 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 toward coverage of
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 the day
following the date on which the
Commission issues all regulatory
approvals. Id. at 7. The contract will
expire on September 30, 2016, unless,
among other things, either party
terminates the agreement upon three
months’ 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 E.
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 Governors’
Decision, 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. MC2013–59 and CP2013–80 to
consider the Request pertaining to the
proposed Parcel Select Contract 7
VerDate Mar<15>2010
15:01 Sep 06, 2013
Jkt 229001
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
September 10, 2013. The public
portions of these filings can be accessed
via the Commission’s Web site (https://
www.prc.gov).
The Commission appoints Lyudmila
Y. Bzhilyanskaya to serve as Public
Representative in these dockets.
III. Ordering Paragraphs
It is ordered:
1. The Commission establishes Docket
Nos. MC2013–59 and CP2013–80 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
(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
September 10, 2013.
4. The Secretary shall arrange for
publication of this order in the Federal
Register.
By the Commission.
Shoshana M. Grove,
Secretary.
[FR Doc. 2013–21795 Filed 9–6–13; 8:45 am]
BILLING CODE 7710–FW–P
POSTAL REGULATORY COMMISSION
[Docket No. MC2013–58 and CP2013–79;
Order No. 1825]
New Postal Product
Postal Regulatory Commission.
Notice.
AGENCY:
ACTION:
The Commission is noticing a
recent Postal Service filing concerning
the addition of Priority Mail Express &
Priority Mail Contract 14 to the
competitive product list. This notice
informs the public of the filing, invites
public comment, and takes other
administrative steps.
DATES: Comments are due: September
10, 2013.
ADDRESSES: Submit comments
electronically via the Commission’s
Filing Online system at https://
www.prc.gov. Those who cannot submit
comments electronically should contact
the person identified in the FOR FURTHER
INFORMATION CONTACT section by
SUMMARY:
PO 00000
Frm 00074
Fmt 4703
Sfmt 4703
55125
telephone for advice on filing
alternatives.
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 Priority Mail Express & Priority
Mail Contract 14 to the competitive
product list.1 The Postal Service asserts
that Priority Mail Express & Priority
Mail Contract 14 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. MC2013–
58.
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. CP2013–79.
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 coverage of
institutional costs, and increase
1 Request of the United States Postal Service to
Add Priority Mail Express & Priority Mail Contract
14 to Competitive Product List and Notice of Filing
(Under Seal) of Unredacted Governors’ Decision,
Contract, and Supporting Data, August 30, 2013
(Request).
E:\FR\FM\09SEN1.SGM
09SEN1
55126
Federal Register / Vol. 78, No. 174 / Monday, September 9, 2013 / Notices
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 one
business day following the date that the
Commission issues all regulatory
approval. Id. at 4. The contract will
expire 3 years from the effective date.
Id. The Postal Service represents that
the contract is consistent with 39 U.S.C.
3633(a). Id. Attachment E.
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 Governors’
Decision, 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 customeridentifying information from public
disclosure indefinitely. Id. at 7.
tkelley on DSK3SPTVN1PROD with NOTICES
II. Notice of Filings
The Commission establishes Docket
Nos. MC2013–58 and CP2013–79 to
consider the Request pertaining to the
proposed Priority Mail Express &
Priority Mail Contract 14 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
September 10, 2013. The public
portions of these filings can be accessed
via the Commission’s Web site (https://
www.prc.gov).
The Commission appoints Pamela A.
Thompson to serve as Public
Representative in these dockets.
III. Ordering Paragraphs
It is ordered:
1. The Commission establishes Docket
Nos. MC2013–58 and CP2013–79 to
consider the matters raised in each
docket.
2. Pursuant to 39 U.S.C. 505, Pamela
A. Thompson is appointed to serve as
an officer of the Commission (Public
Representative) to represent the
VerDate Mar<15>2010
15:01 Sep 06, 2013
Jkt 229001
interests of the general public in these
proceedings.
3. Comments by interested persons in
these proceedings are due no later than
September 10, 2013.
4. The Secretary shall arrange for
publication of this order in the Federal
Register.
By the Commission.
Shoshana M. Grove,
Secretary.
[FR Doc. 2013–21794 Filed 9–6–13; 8:45 am]
BILLING CODE P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–70303]
Order Exempting Broker-Dealers
Participating in NYSE Arca, Inc.’s Lead
Market Maker Incentive Program From
Section 11(d)(1) of the Securities
Exchange Act of 1934 and Rule 11d1–
2 Thereunder
September 3, 2013.
On June 6, 2013, the Securities and
Exchange Commission (‘‘Commission’’)
approved a proposed rule change of
NYSE Arca, Inc. (‘‘Exchange’’ or ‘‘NYSE
Arca’’) to adopt new NYSE Arca
Equities Rule 8.800 (‘‘Rule 8.800’’). Rule
8.800 establishes an incentive program
on a pilot basis (‘‘Incentive Program’’)
for Lead Market Makers (‘‘LMMs’’) in
certain exchange-traded products
(‘‘ETPs’’).1 The Incentive Program is
designed to encourage market makers to
take LMM assignments in certain lower
volume ETPs by offering an alternative
fee structure for those LMMs and ‘‘LMM
Payments’’ that would be funded from
the Exchange’s general revenues if the
LMM meets or exceeds certain
performance standards set forth in Rule
8.800(c) that relate to the LMM’s
quoting activity in the ETP. The costs of
the Incentive Program would be funded
by charging participating issuers nonrefundable ‘‘Optional Incentive Fees’’
1 Securities Exchange Act Release No. 69706
(June 6, 2013), 78 FR 35340 (June 12, 2013) (SR–
NYSEArca–2013–34) (the ‘‘Approval Order’’). The
Approval Order contains a detailed description of
the Incentive Program. On March 21, 2013, the
Exchange filed with the Commission, pursuant to
Section 19(b)(1) of the Securities Exchange Act of
1934, as amended (‘‘Act’’ or ‘‘Exchange Act’’) and
Rule 19b–4 thereunder, a proposed rule change to
establish the Program. The proposed rule change, as
modified by Amendment No. 1 thereto, was
published for comment in the Federal Register on
April 11, 2013. Securities Exchange Act Release No.
69335 (Apr. 5, 2013), 78 FR 21681 (Apr. 11, 2013).
The Approval Order grants approval of the
proposed rule change, as modified by Amendments
No. 1 and 2.
PO 00000
Frm 00075
Fmt 4703
Sfmt 4703
which may be paid by sponsors on
behalf of the issuer.
Section 11(d)(1) of the Exchange Act 2
generally prohibits a broker-dealer from
extending or maintaining credit, or
arranging for the extension or
maintenance of credit, on shares of new
issue securities, if the broker-dealer
participated in the distribution of the
new issue securities within the
preceding 30 days. Shares of open-end
investment companies and unit
investment trusts registered under the
Investment Company Act of 1940, such
as exchange traded fund (‘‘ETF’’) shares,
are distributed in a continuous manner.
Broker-dealers that sell such securities
are therefore participating in the
‘‘distribution’’ of a new issue for
purposes of Section 11(d)(1).3
The Division of Trading and Markets,
acting under delegated authority,
granted an exemption from Section
11(d)(1) and Rule 11d1–2 thereunder to
broker-dealers that have entered into an
agreement with an ETF’s distributor to
place orders with the distributor to
purchase or redeem the ETF’s shares
(‘‘Broker-Dealer APs’’).4 The SIA
Exemption allows a Broker-Dealer AP to
extend or maintain credit, or arrange for
the extension or maintenance of credit,
to or for customers on the shares of
qualifying ETFs subject to the condition
that neither the Broker-Dealer AP, nor
any natural person associated with the
Broker-Dealer AP, directly or indirectly
(including through any affiliate of the
Broker-Dealer AP), receives from the
fund complex any payment,
compensation, or other economic
incentive to promote or sell the shares
of the ETF to persons outside the fund
complex, other than non-cash
compensation permitted under NASD
Rule 2830(l)(5)(A), (B), or (C). This
condition is intended to eliminate
special incentives that Broker-Dealer
APs and their associated persons might
otherwise have to ‘‘push’’ ETF shares.
The Incentive Program will permit
certain ETPs, including ETFs and
commodity-based exchange traded
trusts, to voluntarily incur increased
listing fees payable to the Exchange. In
turn, the Exchange will use a portion of
the fees to make LMM Payments to
market makers that improve the market
quality of participating issuers’
2 15
U.S.C. 78k(d)(1).
e.g., Exchange Act Release Nos. 6726 (Feb.
8, 1962), 27 FR 1415 (Feb. 15, 1962) and 21577
(Dec. 18, 1984), 49 FR 50174 (Dec. 27, 1984).
4 See Letter from Catherine McGuire, Chief
Counsel, Division of Trading and Markets,
Securities and Exchange Commission to Securities
Industry Association (Nov. 21, 2005) (‘‘SIA
Exemption’’).
3 See,
E:\FR\FM\09SEN1.SGM
09SEN1
Agencies
[Federal Register Volume 78, Number 174 (Monday, September 9, 2013)]
[Notices]
[Pages 55125-55126]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-21794]
-----------------------------------------------------------------------
POSTAL REGULATORY COMMISSION
[Docket No. MC2013-58 and CP2013-79; Order No. 1825]
New Postal Product
AGENCY: Postal Regulatory Commission.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Commission is noticing a recent Postal Service filing
concerning the addition of Priority Mail Express & Priority Mail
Contract 14 to the competitive product list. This notice informs the
public of the filing, invites public comment, and takes other
administrative steps.
DATES: Comments are due: September 10, 2013.
ADDRESSES: Submit comments electronically via the Commission's Filing
Online system at https://www.prc.gov. Those who cannot submit comments
electronically should contact the person identified in the FOR FURTHER
INFORMATION CONTACT section by telephone for advice on filing
alternatives.
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 Priority Mail Express & Priority Mail Contract 14 to
the competitive product list.\1\ The Postal Service asserts that
Priority Mail Express & Priority Mail Contract 14 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. MC2013-58.
---------------------------------------------------------------------------
\1\ Request of the United States Postal Service to Add Priority
Mail Express & Priority Mail Contract 14 to Competitive Product List
and Notice of Filing (Under Seal) of Unredacted Governors' Decision,
Contract, and Supporting Data, August 30, 2013 (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. CP2013-79.
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
coverage of institutional costs, and increase
[[Page 55126]]
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 one business day following the date
that the Commission issues all regulatory approval. Id. at 4. The
contract will expire 3 years from the effective date. Id. The Postal
Service represents that the contract is consistent with 39 U.S.C.
3633(a). Id. Attachment E.
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 Governors' Decision,
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. MC2013-58 and CP2013-79 to
consider the Request pertaining to the proposed Priority Mail Express &
Priority Mail Contract 14 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 September 10,
2013. The public portions of these filings can be accessed via the
Commission's Web site (https://www.prc.gov).
The Commission appoints Pamela A. Thompson to serve as Public
Representative in these dockets.
III. Ordering Paragraphs
It is ordered:
1. The Commission establishes Docket Nos. MC2013-58 and CP2013-79
to consider the matters raised in each docket.
2. Pursuant to 39 U.S.C. 505, Pamela A. Thompson 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 September 10, 2013.
4. The Secretary shall arrange for publication of this order in the
Federal Register.
By the Commission.
Shoshana M. Grove,
Secretary.
[FR Doc. 2013-21794 Filed 9-6-13; 8:45 am]
BILLING CODE P