[Federal Register: October 7, 2009 (Volume 74, Number 193)]
[Notices]
[Page 51592-51593]
[DOCID:fr07oc09-58]

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ENVIRONMENTAL PROTECTION AGENCY

[FRL-8966-5; Docket ID No. EPA-HQ-ORD-2009-0613]

Exposure Factors Handbook: 2009 Update

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice of public comment period.

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SUMMARY: EPA is announcing a 60-day public comment period for the
external review draft document titled, ``Exposure Factors Handbook:
2009 Update'' (EPA/600/R-09/052A), which was prepared by the National
Center for Environmental Assessment (NCEA) within EPA's Office of
Research and Development (ORD). The Exposure Factors Handbook provides
a summary of the available statistical data on various factors used in
assessing human exposure. This Handbook is aimed at exposure assessors
inside the Agency as well as those outside who use data on standard
factors to calculate human exposure to toxic chemicals. These factors
include: drinking water consumption; mouthing behavior; soil ingestion
rates; inhalation rates; dermal factors, including skin area and soil
adherence factors; consumption of fruits and vegetables, fish, meats,
dairy products, and homegrown foods; breast milk intake; human activity
factors;

consumer product use; and residential characteristics. Recommended
values are for the general population and also for various segments of
the population who may have characteristics different from the general
population. An external peer-review workshop is expected to be
scheduled at a later date and announced in the Federal Register. The
public comment period and the external peer-review workshop are
separate processes that provide opportunities for all interested
parties to comment on the document. EPA intends to forward the public
comments that are submitted in accordance with this notice to the
external peer-review panel prior to the meeting for their
consideration. When finalizing the draft document, EPA intends to
consider any public comments that EPA receives in accordance with this
notice.
    EPA is releasing this draft document solely for the purpose of pre-
dissemination peer review under applicable information quality
guidelines. This document has not been formally disseminated by EPA. It
does not represent and should not be construed to represent any Agency
policy or determination.
    The draft document and EPA's peer-review charge are available via
the Internet on the NCEA home page under the Recent Additions and the
Data and Publications menus at http://www.epa.gov/ncea.

DATES: The 60-day public comment period begins October 7, 2009, and
ends December 7, 2009. Technical comments should be in writing and must
be received by EPA by December 7, 2009.

ADDRESSES: The external review draft ``Exposure Factors Handbook: 2009
Update'' is available primarily via the Internet on the National Center
for Environmental Assessment's home page under the Recent Additions and
the Data and Publications menus at http://www.epa.gov/ncea. A limited
number of CDs are available from NCEA's Information Management Team,
NCEA; telephone:<PHONE_NUMBER>; facsimile:<PHONE_NUMBER>. If you are
requesting a CD, please provide your name, your mailing address, and
the document title, ``Exposure Factors Handbook: 2009 Update.''
    Comments may be submitted electronically via http://
www.regulations.gov, by mail, by facsimile, or by hand delivery/
courier. Please follow the detailed instructions provided in the
SUPPLEMENTARY INFORMATION section of this notice.

FOR FURTHER INFORMATION CONTACT: For information on the public comment
period, contact the Office of Environmental Information Docket;
telephone:<PHONE_NUMBER>; facsimile:<PHONE_NUMBER>; or e-mail:
<EMAIL_ADDRESS>    For technical information, contact Jacqueline Moya, NCEA;
telephone:<PHONE_NUMBER>; facsimile:<PHONE_NUMBER>; or e-mail:
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. How To Submit Technical Comments to the Docket at http://
www.regulations.gov

    Submit your comments, identified by Docket ID No. EPA-HQ-ORD 2009-
0613 by one of the following methods:
     http://www.regulations.gov: Follow the on-line
instructions for submitting comments.
     E-mail<EMAIL_ADDRESS>     Fax:<PHONE_NUMBER>.
     Mail: Office of Environmental Information (OEI) Docket
(Mail Code: 2822T), U.S. Environmental Protection Agency, 1200
Pennsylvania Ave., NW., Washington, DC 20460. The phone number is 202-
566-1752.
     Hand Delivery: The OEI Docket is located in the EPA
Headquarters Docket Center, Room 3334 EPA West Building, 1301
Constitution Ave., NW., Washington, DC. The EPA Docket Center's Public
Reading Room is open from 8:30 a.m. to 4:30 p.m., Monday through
Friday, excluding legal holidays. The telephone number for the Public
Reading Room is<PHONE_NUMBER>. Such deliveries are only accepted during
the docket's normal hours of operation, and special arrangements should
be made for deliveries of boxed information.
    If you provide comments by mail or hand delivery, please submit
three copies of the comments. For attachments, provide an index, number
pages consecutively with the comments, and submit an unbound original
and three copies.
    Instructions: Direct your comments to Docket ID No. EPA-HQ-ORD-
2009-0613. Please ensure that your comments are submitted within the
specified comment period. Comments received after the closing date will
be marked ``late,'' and may only be considered if time permits. It is
EPA's policy to include all comments it receives in the public docket
without change and to make the comments available online at http://
www.regulations.gov, including any personal information provided,
unless a comment includes information claimed to be Confidential
Business Information (CBI) or other information whose disclosure is
restricted by statute. Do not submit information that you consider to
be CBI or otherwise protected through http://www.regulations.gov or e-
mail. The http://www.regulations.gov Web site is an ``anonymous
access'' system, which means EPA will not know your identity or contact
information unless you provide it in the body of your comment. If you
send an e-mail comment directly to EPA without going through http://
www.regulations.gov, your e-mail address will be automatically captured
and included as part of the comment that is placed in the public docket
and made available on the Internet. If you submit an electronic
comment, EPA recommends that you include your name and other contact
information in the body of your comment and with any disk or CD-ROM you
submit. If EPA cannot read your comment due to technical difficulties
and cannot contact you for clarification, EPA may not be able to
consider your comment. Electronic files should avoid the use of special
characters, any form of encryption, and be free of any defects or
viruses. For additional information about EPA's public docket visit the
EPA Docket Center homepage at http://www.epa.gov/epahome/dockets.htm.
    Docket: Documents in the docket are listed in the http://
www.regulations.gov index. Although listed in the index, some
information is not publicly available, e.g., CBI or other information
whose disclosure is restricted by statute. Certain other materials,
such as copyrighted material, are publicly available only in hard copy.
Publicly available docket materials are available either electronically
in http://www.regulations.gov or in hard copy at the OEI Docket in the
EPA Headquarters Docket Center.

    Dated: September 30, 2009.
Peter Preuss,
Director, National Center for Environmental Assessment.
[FR Doc. E9-24189 Filed 10-6-09; 8:45 am]

BILLING CODE 6560-50-P


[Federal Register Volume 76, Number 116 (Thursday, June 16, 2011)]
[Notices]
[Pages 35259-35260]
[FR Doc No: 2011-15055]

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SECURITIES AND EXCHANGE COMMISSION

 [File No. 500-1]

 In the Matter of Dawn Technologies, Inc., Distinctive Devices,
Inc., Haber, Inc., and Independence Brewing Co.; Order of Suspension of
Trading

June 14, 2011.
    It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Dawn Technologies, Inc. because it has not filed any periodic reports
since the period ended September 30, 1999.
    It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Distinctive Devices, Inc. because it has not filed any periodic reports
since the period ended September 30, 2004.
    It appears to the Securities and Exchange Commission that there is
a

lack of current and accurate information concerning the securities of
Haber, Inc. because it has not filed any periodic reports since the
period ended May 31, 2007.
    It appears to the Securities and Exchange Commission that there is
a lack of current and accurate information concerning the securities of
Independence Brewing Co. because it has not filed any periodic reports
since the period ended March 31, 1999.
    The Commission is of the opinion that the public interest and the
protection of investors require a suspension of trading in the
securities of the above-listed companies. Therefore, it is ordered,
pursuant to Section 12(k) of the Securities Exchange Act of 1934, that
trading in the securities of the above-listed companies is suspended
for the period from 9:30 a.m. EDT on June 14, 2011, through 11:59 p.m.
EDT on June 27, 2011.

    By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2011-15055 Filed 6-14-11; 4:15 pm]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 150 (Thursday, August 4, 2016)]
[Notices]
[Pages 51461-51462]
[FR Doc No: 2016-18430]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Docket ID: FEMA-2016-0010; OMB No. 1660-0017]

Agency Information Collection Activities: Submission for OMB
Review; Comment Request; Public Assistance Program

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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SUMMARY: The Federal Emergency Management Agency (FEMA) will submit the
information collection abstracted below to the Office of Management and
Budget for review and clearance in accordance with the requirements of
the Paperwork Reduction Act of 1995. The submission will describe the
nature of the information collection, the categories of respondents,
the estimated burden (i.e., the time, effort and resources used by
respondents to respond) and cost, and the actual data collection
instruments FEMA will use.

DATES: Comments must be submitted on or before September 6, 2016.

ADDRESSES: Submit written comments on the proposed information
collection to the Office of Information and Regulatory Affairs, Office
of Management and Budget. Comments should be addressed to the Desk
Officer for the Department of Homeland Security, Federal Emergency
Management Agency, and sent via electronic mail to
<EMAIL_ADDRESS>
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection should be made to Director,
Records Management Division, 500 C Street SW., Washington, DC 20472-
3100, or email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: This proposed information collection
previously published in the Federal Register on May 16, 2016 at 81 FR
30324 with a 60 day public comment period. No comments were received.
The purpose of this notice is to notify the public that FEMA will
submit the information collection abstracted below to the Office of
Management and Budget for review and clearance.

Collection of Information

    Title: Public Assistance Program.
    Type of information collection: Extension, without change, of a
currently approved information collection.
    OMB Number: 1660-0017.
    Form Titles and Numbers: FEMA Form 009-0-49 Request for Public
Assistance; FEMA Form 009-0-91 Project Worksheet (PW); FEMA Form 009-0-
91A Project Worksheet (PW)--Damage Description and Scope of Work
Continuation Sheet; FEMA Form 009-0-91B Project Worksheet (PW)--Cost
Estimate Continuation Sheet; FEMA Form 009-0-91C Project Worksheet
(PW)--Maps and Sketches Sheet; FEMA Form 009-0-91D Project Worksheet
(PW)--Photo Sheet; FEMA Form 009-0-120 Special Considerations
Questions; FEMA Form 009-0-121 PNP Facility Questionnaire; FEMA Form
009-0-123 Force Account Labor Summary Record; FEMA Form 009-0-124
Materials Summary Record; FEMA Form 009-0-125 Rented Equipment Summary
Record; FEMA Form 009-0-126 Contract Work Summary Record; FEMA Form
009-0-127 Force Account Equipment Summary Record; FEMA Form 009-0-128
Applicant's Benefits

Calculation Worksheet; FEMA Form 009-0-111 Quarterly Progress Reports;
and FEMA Form 055-0-0-1, Request for Arbitration resulting from Dispute
Resolution Pilot Program.
    Abstract: The information collected is utilized by FEMA to make
determinations for Public Assistance grants based on the information
supplied by the respondents.
    Affected Public: State, Local or Tribal government.
    Estimated Number of Respondents: 976.
    Estimated Total Annual Burden Hours: 359,186.
    Estimated Cost: The estimated annual cost to respondents for the
hour burden is $19,625,807. There are no record keeping, capital,
start-up or maintenance costs associated with this information
collection. The cost to the Federal Government is $750,458.

    Dated: July 29, 2016.
Richard W. Mattison,
Records Management Program Chief, Mission Support, Federal Emergency
Management Agency, Department of Homeland Security.
[FR Doc. 2016-18430 Filed 8-3-16; 8:45 am]
 BILLING CODE 9111-23-P


[Federal Register Volume 80, Number 37 (Wednesday, February 25, 2015)]
[Notices]
[Pages 10187-10189]
[FR Doc No: 2015-03816]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74308; File No. SR-NYSEArca-2015-07]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Extending the Pilot
Period Applicable to Rule 6.65A(c), Obvious and Catastrophic Errors,
Until October 23, 2015

February 19, 2015.
    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 February 18, 2015, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE
Arca'') 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 self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change

    The Exchange proposes to extend the pilot period applicable to Rule
6.65A(c), which addresses how the Exchange treats Obvious and
Catastrophic Errors during periods of extreme market volatility, until
October 23, 2015. The pilot period is currently set to expire on
February 20, 2015. 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
    The Exchange proposes to extend the pilot period applicable to Rule
6.65A(c), which addresses how the Exchange treats Obvious and
Catastrophic Errors during periods of extreme market volatility, until
October 23, 2015. The pilot period is currently set to expire on
February 20, 2015.
    In April 2013, in connection with the Plan to Address Extraordinary
Market Volatility Pursuant to Rule 608 of Regulation NMS (the
``Plan''),\3\ the Exchange adopted Rule 6.65A(c) to provide that
options executions would not be adjusted or nullified if the execution
occurs during periods of extreme market volatility.\4\ Specifically,
Rule 6.65A(c) provides that, during the pilot period, electronic
transactions in options that overlay an NMS Stock that occur during a
Limit State or a Straddle State (as defined by the Plan) are not
subject to review under Rule 6.87(a) for Obvious Errors or Rule 6.87(d)
for Catastrophic Errors. Nothing in Rule 6.65A(c) prevents electronic
transactions in options that overlay an NMS Stock that occur during a
Limit State or a Straddle State from being reviewed on Exchange motion
pursuant to 6.87(b)(3).
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    \3\ See Securities Exchange Act Release No. 67091 (May 31,
2012), 77 FR 33498 (June 6, 2012) (File No. 4-631) (Order Approving,
on a Pilot Basis, the Plan). The Plan is designed to prevent trades
in individual NMS Stocks from occurring outside of specified Price
Bands, which are described in more detail in the Plan.
    \4\ See Securities and Exchange Act Release No. 69340 (April 8,
2013), 78 FR 22004 (April 12, 2013) (SR-NYSEArca-2013-10)
(``Approval Order'').
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    The Plan has been amended several times since inception and was not
implemented until February 24, 2014. The Participants to the Plan
recently filed to extend the Plan's pilot period until October 23, 2015
(the ``Eighth Amendment'').\5\ The purpose of this proposed extension
is to provide time for the Participants to prepare a supplemental
assessment and recommendation regarding the Plan and for the public to
comment on such assessment for the purpose of determining whether there
should be any modifications to the Plan.
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    \5\ See Securities Exchange Act Release No. 74110 (January 21,
2015), 80 FR 4321 (January 27, 2015) (File No. 4-631) (notice of
proposed Eighth Amendment to the Plan).
---------------------------------------------------------------------------

    In order to align the pilot period for Rule 6.65A(c) with the
proposed pilot period for the Plan, the Exchange similarly proposes to
extend the pilot period until October 23, 2015. The Exchange believes
the benefits afforded to market participants under Rule 6.65A(c) should
continue on a pilot basis during the same period as the Plan pilot. The
Exchange continues to believe that adding certainty to the execution of
orders in Limit or Straddle States would encourage market participants
to continue to provide liquidity to the Exchange, and thus, promote a
fair and orderly market during those periods. Thus, the Exchange
believes that the protections of current Rule 6.65A(c) should continue
while the industry gains further experience operating the Plan. In
addition, the Exchange believes that extending the pilot period for
Rule 6.65A(c) would allow the Exchange to continue to collect and
evaluate data, as well as to conduct further data analyses, related to
this provision.
    Specifically, in connection with the adoption of Rule 6.65A(c), the
Exchange committed to review the operation of this provision and to
analyze the impact of Limit and Straddle States accordingly.\6\ The
Exchange agreed to and has been providing to the Commission and the
public data for each Straddle State and Limit State in NMS Stocks
underlying options traded on the Exchange beginning in April 2013,
limited to those option classes that have at least one (1) trade on the
Exchange during a Straddle State or Limit State.\7\ For each of those
option classes affected, each data record contains the following
information:
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    \6\ Specifically, the Exchange committed to: ``(1) Evaluate the
options market quality during Limit States and Straddle States; (2)
assess the character of incoming order flow and transactions during
Limit States and Straddle States; and (3) review any complaints from
members and their customers concerning executions during Limit
States and Straddle States.'' See Approval Order, 78 FR at 22008.
    \7\ See Securities Exchange Act Release No. 71869 (April 4,
2014), 79 FR 19689 (April 9, 2014) (SR-NYSEArca-2014-36).
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     Stock symbol, option symbol, time at the start of the
Straddle or Limit

State, an indicator for whether it is a Straddle or Limit State.
     For activity on the Exchange:
     executed volume, time-weighted quoted bid-ask spread,
time-weighted average quoted depth at the bid, time-weighted average
quoted depth at the offer;
     high execution price, low execution price;
     number of trades for which a request for review for error
was received during Straddle and Limit States;
     an indicator variable for whether those options outlined
above have a price change exceeding 30% during the underlying stock's
Limit or Straddle state compared to the last available option price as
reported by OPRA before the start of the Limit or Straddle State (1 if
observe 30% and 0 otherwise). Another indicator variable for whether
the option price within five minutes of the underlying stock leaving
the Limit or Straddle state (or halt if applicable) is 30% away from
the price before the start of the Limit or Straddle state.
    In addition, the Exchange has committed to provide to the
Commission by May 29, 2015 assessments relating to the impact of the
operation of the Obvious Error rules during Limit and Straddle States
as follows: (1) Evaluate the statistical and economic impact of Limit
and Straddle States on liquidity and market quality in the options
markets; and (2) Assess whether the lack of Obvious Error rules in
effect during the Straddle and Limit States are problematic. The
Exchange notes that, to date, there have not been any requests for
review of Obvious Error of options trades that occur during a Limit or
Straddle State in the underlying security.
    The Exchange believes that the extension of the pilot period of
Rule 6.65A(c) would allow the Exchange to continue to observe the
operation of the pilot and conduct its assessments relating to the
impact of the operation of the Rule during Limit and Straddle States,
which information will continue to be shared with the Commission and
the public as set forth above.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
Section 6(b) of the Act \8\ in general, and furthers the objectives of
Section 6(b)(5),\9\ in particular, in that it is designed to promote
just and equitable principles of trade, remove impediments to and
perfect the mechanisms of, a free and open market and a national market
system and, in general, to protect investors and the public interest.
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    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
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    Specifically, the proposal to extend the pilot program of Rule
6.65A(c) until October 23, 2015 would align that pilot program with the
Pilot Period for the Plan, as proposed in the Eighth Amendment to the
Plan. The Exchange believes that aligning the pilot periods would
ensure that trading in options that overlay NMS Stocks continues to be
appropriately modified to reflect market conditions that occur during a
Limit State or a Straddle State in a manner that promotes just and
equitable principles of trade and removes impediments to, and perfects
the mechanism of, a free and open market and a national market system.
The Exchange believes that the extension of Rule 6.65A(c) would help
encourage market participants to continue to provide liquidity during
extraordinary market volatility.
    Moreover, the Exchange believes that extending the pilot period for
Rule 6.65A(c) would remove impediments to, and perfect the mechanisms
of, a free and open market because it would enable the Exchange to
continue to continue to conduct its assessments relating to the impact
of the operation of the Obvious Error rules during Limit and Straddle
States as set forth above, which, in turn, provides the Exchange with
more information from which to assess the impact of Rule 6.65A(c).

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 proposed changes will
not impose any burden on competition and will instead provide certainty
regarding the treatment and execution of options orders, specifically
the treatment of Obvious and Catastrophic Errors during periods of
extraordinary volatility in the underlying NMS Stock, and will
facilitate appropriate liquidity during a Limit State or Straddle
State.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received with respect to the
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    Because the 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 if consistent with the protection of investors
and the public interest, the proposed rule change has become effective
pursuant to Section 19(b)(3)(A) of the Act \10\ and Rule 19b-
4(f)(6)(iii) thereunder.\11\
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(6)(iii). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written
notice of its intent to file the proposed rule change, along with a
brief description and the text of the proposed rule change, at least
five business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission.
---------------------------------------------------------------------------

    The Exchange has asked the Commission to waive the 30-day operative
delay so that the proposal may become operative immediately upon
filing. The Commission believes that waiving the 30-day operative delay
is consistent with the protection of investors and the public interest,
as it will allow the obvious error pilot program to continue
uninterrupted while the industry gains further experience operating
under the Plan, and avoid any investor confusion that could result from
a temporary interruption in the pilot program. For this reason, the
Commission designates the proposed rule change to be operative upon
filing.\12\
---------------------------------------------------------------------------

    \12\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    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 necessary or
appropriate in the public interest, for the protection of investors, or
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.

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<EMAIL_ADDRESS>Please include
File Number SR-NYSEArca-2015-07 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSEArca-2015-07. 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 such 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-NYSEArca-2015-07, and should
be submitted on or before March 18, 2015.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------

    \13\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2015-03816 Filed 2-24-15; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 7 (Monday, January 12, 2015)]
[Notices]
[Pages 1537-1539]
[FR Doc No: 2015-00223]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74007; File No. SR-MIAX-2014-69]

Self-Regulatory Organizations; Miami International Securities
Exchange LLC; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Amend Its Fee Schedule

January 6, 2015.
    Pursuant to the provisions of 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 December 24, 2014, Miami International
Securities Exchange LLC (``MIAX'' or ``Exchange'') filed with the
Securities and Exchange Commission (``Commission'') a proposed rule
change as described in Items I, II, and III 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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange is filing a proposal to amend its Fee Schedule.
    The text of the proposed rule change is available on the Exchange's
Web site at http://www.miaxoptions.com/filter/wotitle/rule_filing, at
MIAX's principal office, 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
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to amend its current Priority Customer Rebate
Program (the ``Program'') to modify the volume thresholds of tiers 3
and 4.\3\ Under the Program, the Exchange shall credit each Member the
per contract amount set forth in the table below resulting from each
Priority Customer \4\ order transmitted by that Member which is
executed on the Exchange in all multiply-listed option classes
(excluding mini-options, Priority Customer-to-Priority Customer Orders,
PRIME AOC Responses, PRIME Contra-side Orders, PRIME Orders for which
both the Agency and Contra-side Order are Priority Customers, and
executions related to contracts that are routed to one or more
exchanges in connection with the Options Order Protection and Locked/
Crossed Market Plan referenced in MIAX Rule 1400), provided the Member
meets certain volume thresholds in a month as described below. For each
Priority Customer order transmitted by that Member which is executed
electronically on the Exchange in MIAX Select Symbols, MIAX shall
credit each member at the separate per contract rate for MIAX Select
Symbols.\5\ The volume thresholds are calculated based on the customer
average daily volume over the course of the month. Volume will be
recorded for and credits will be delivered to the Member Firm that
submits the order to the Exchange.
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    \3\ See Securities Exchange Act Release Nos. 72799 (August 8,
2014), 79 FR 47698 (August 14, 2014) (SR-MIAX-2014-40); 72355 (June
10, 2014), 79 FR 34368 (June 16, 2014) (SR-MIAX-2014-25); 71698
(March 12, 2014), 79 FR 15185 (March 18, 2014) (SR-MIAX-2014-12);
71283 (January 10, 2014), 79 FR 2914 (January 16, 2014) (SR-MIAX-
2013-63); 71009 (December 6, 2013), 78 FR 75629 (December 12, 2013)
(SR-MIAX-2013-56).
    \4\ The term ``Priority Customer'' means a person or entity that
(i) is not a broker or dealer in securities, and (ii) does not place
more than 390 orders in listed options per day on average during a
calendar month for its own beneficial accounts(s). See MIAX Rule
100.
    \5\ See Securities Exchange Release Nos. 71700 (March 12, 2014),
79 FR 15188 (March 18, 2014) (SR-MIAX-2014-13); 72356 (June 10,
2014), 79 FR 34384 (June 16, 2014) (SR-MIAX-2014-26); 72567 (July 8,
2014), 79 FR 40818 (July 14, 2014) (SR-MIAX-2014-34); 73328 (October
9, 2014), 79 FR 62230 (October 16, 2014) (SR-MIAX-2014-50).

------------------------------------------------------------------------
                                                                 Per
    Percentage thresholds of national customer volume in       contract
  multiply-listed options classes listed on MIAX (monthly)      credit
------------------------------------------------------------------------
0.00%-0.35%................................................        $0.00
Above 0.35%-0.50%..........................................         0.10
Above 0.50%-1.50%..........................................         0.15
Above 1.50%-2.00%..........................................         0.17
Above 2.00%................................................         0.18
------------------------------------------------------------------------

    The Exchange will aggregate the contracts resulting from Priority
Customer orders transmitted and executed electronically on the Exchange
from affiliated Members for purposes of the thresholds above, provided
there is at least 75% common ownership between the firms as reflected
on each firm's Form BD, Schedule A. In the event of a MIAX System
outage or other interruption of electronic trading on MIAX, the
Exchange will adjust the national customer volume in multiply-listed
options for the duration of the outage. A Member may request to receive
its credit under the Priority Customer Rebate Program as a separate
direct payment.
    In addition, the rebate payments will be calculated from the first
executed contract at the applicable threshold per contract credit with
the rebate payments made at the highest achieved volume tier for each
contract traded in that month. For example, if Member Firm XYZ, Inc.
(``XYZ'') has enough Priority Customer contracts to achieve 2.75% of
the national customer volume in multiply-listed option contracts during
the month of October, XYZ will receive a credit of $0.18 for each
Priority Customer contract executed in the month of October.
    The purpose of the Program is to encourage Members to direct
greater Priority Customer trade volume to the

Exchange. Increased Priority Customer volume will provide for greater
liquidity, which benefits all market participants. The practice of
incentivizing increased retail customer order flow in order to attract
professional liquidity providers (Market-Makers) is, and has been,
commonly practiced in the options markets. As such, marketing fee
programs,\6\ and customer posting incentive programs,\7\ are based on
attracting public customer order flow. The Program similarly intends to
attract Priority Customer order flow, which will increase liquidity,
thereby providing greater trading opportunities and tighter spreads for
other market participants and causing a corresponding increase in order
flow from such other market participants.
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    \6\ See MIAX Fee Schedule, Section 1(b).
    \7\ See NYSE Arca, Inc. Fees Schedule, page 4 (section titled
``Customer Monthly Posting Credit Tiers and Qualifications for
Executions in Penny Pilot Issues'').
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    The specific volume thresholds of the Program's tiers were set
based upon business determinations and an analysis of current volume
levels. The volume thresholds are intended to incentivize firms that
route some Priority Customer orders to the Exchange to increase the
number of orders that are sent to the Exchange to achieve the next
threshold and to incent new participants to send Priority Customer
orders as well. Increasing the number of orders sent to the Exchange
will in turn provide tighter and more liquid markets, and therefore
attract more business overall. Similarly, the different credit rates at
the different tier levels were based on an analysis of revenue and
volume levels and are intended to provide increasing ``rewards'' for
increasing the volume of trades sent to the Exchange. The specific
amounts of the tiers and rates were set in order to encourage suppliers
of Priority Customer order flow to reach for higher tiers.
    The credits paid out as part of the program will be drawn from the
general revenues of the Exchange.\8\ The Exchange calculates volume
thresholds on a monthly basis.
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    \8\ Despite providing credits under the Program, the Exchange
represents that it will continue to have adequate resources to fund
its regulatory program and fulfill its responsibilities as a self-
regulatory organization while the Program will be in effect.
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    The proposed changes will become operative on January 1, 2015.
2. Statutory Basis
    The Exchange believes that its proposal to amend its fee schedule
is consistent with Section 6(b) of the Act \9\ in general, and furthers
the objectives of Section 6(b)(4) of the Act \10\ in particular, in
that it is an equitable allocation of reasonable fees and other charges
among Exchange members.
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    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(4).
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    The Exchange believes that the proposed Priority Customer Rebate
Program is fair, equitable and not unreasonably discriminatory. The
Program is reasonably designed because it will incent providers of
Priority Customer order flow to send that Priority Customer order flow
to the Exchange in order to receive a credit in a manner that enables
the Exchange to improve its overall competitiveness and strengthen its
market quality for all market participants. The Program is also
reasonably designed because the proposed credits are within the range
of credits assessed by other exchanges employing similar rebate
programs. The proposed rebate program is fair and equitable and not
unreasonably discriminatory because it will apply equally to all
Priority Customer orders. All similarly situated Priority Customer
orders are subject to the same rebate schedule, and access to the
Exchange is offered on terms that are not unfairly discriminatory. In
addition, the Program is equitable and not unfairly discriminatory
because, while only Priority Customer order flow qualifies for the
Program, an increase in Priority Customer order flow will bring greater
volume and liquidity, which benefit all market participants by
providing more trading opportunities and tighter spreads. Similarly,
offering increasing credits for executing higher percentages of total
national customer volume (increased credit rates at increased volume
tiers) is equitable and not unfairly discriminatory because such
increased rates and tiers encourage Members to direct increased amounts
of Priority Customer contracts to the Exchange. Market participants
want to trade with Priority Customer order flow. To the extent Priority
Customer order flow is increased by the proposal, market participants
will increasingly compete for the opportunity to trade on the Exchange
including sending more orders and providing narrower and larger sized
quotations in the effort to trade with such Priority Customer order
flow. The resulting increased volume and liquidity will benefit those
Members who receive the lower tier levels, or do not qualify for the
Program at all, by providing more trading opportunities and tighter
spreads.
    Limiting the Program to multiply-listed options classes listed on
MIAX is reasonable because those parties trading heavily in multiply-
listed classes will receive a credit for such trading, and is equitable
and not unfairly discriminatory because the Exchange does not trade any
singly-listed products at this time. If at such time the Exchange
develops proprietary products, the Exchange anticipates having to
devote a lot of resources to develop them, and therefore would need to
retain funds collected in order to recoup those expenditures.

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 not necessary or appropriate in
furtherance of the purposes of the Act. The Exchange believes that the
proposed change would increase both intermarket and intramarket
competition by incenting Members to direct their Priority Customer
orders to the Exchange, which will enhance the quality of quoting and
increase the volume of contracts traded here. To the extent that there
is additional competitive burden on non-Priority Customers, the
Exchange believes that this is appropriate because the rebate program
should incent Members to direct additional order flow to the Exchange
and thus provide additional liquidity that enhances the quality of its
markets and increases the volume of contracts traded here. To the
extent that this purpose is achieved, all the Exchange's market
participants should benefit from the improved market liquidity.
Enhanced market quality and increased transaction volume that results
from the anticipated increase in order flow directed to the Exchange
will benefit all market participants and improve competition on the
Exchange. The Exchange notes that it operates in a highly competitive
market in which market participants can readily favor competing venues
if they deem fee levels at a particular venue to be excessive. In such
an environment, the Exchange must continually adjust its fees to remain
competitive with other exchanges and to attract order flow to the
Exchange. The Exchange believes that the proposed rule change reflects
this competitive environment because it reduces the Exchange's fees in
a manner that encourages market participants to direct their customer
order flow, to provide liquidity, and to attract additional transaction
volume to the Exchange. Given the robust competition for volume among
options markets, many of which offer the same products, implementing a
volume based customer rebate program to attract order flow like

the one being proposed in this filing is consistent with the above-
mentioned goals of the Act. This is especially true for the smaller
options markets, such as MIAX, which is competing for volume with much
larger exchanges that dominate the options trading industry. MIAX has a
nominal percentage of the average daily trading volume in options, so
it is unlikely that the customer rebate program could cause any
competitive harm to the options market or to market participants.
Rather, the customer rebate program is a modest attempt by a small
options market to attract order volume away from larger competitors by
adopting an innovative pricing strategy. The Exchange notes that if the
rebate program resulted in a modest percentage increase in the average
daily trading volume in options executing on MIAX, while such
percentage would represent a large volume increase for MIAX, it would
represent a minimal reduction in volume of its larger competitors in
the industry. The Exchange believes that the proposal will help further
competition, because market participants will have yet another
additional option in determining where to execute orders and post
liquidity if they factor the benefits of a customer rebate program into
the determination.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    Written comments were neither solicited nor received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\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 necessary or appropriate in the public interest,
for the protection of investors, or 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.
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    \11\ 15 U.S.C. 78s(b)(3)(A)(ii).
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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<EMAIL_ADDRESS>Please include
File Number SR-MIAX-2014-69 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-MIAX-2014-69. 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-MIAX-2014-69 and
should be submitted on or before February 2, 2015.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2015-00223 Filed 1-9-15; 8:45 am]
BILLING CODE 8011-01-P