[Federal Register Volume 80, Number 61 (Tuesday, March 31, 2015)]
[Notices]
[Pages 17138-17139]
[FR Doc No: 2015-07383]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Summary Notice No. PE-2015-16 ]

Petition for Exemption; Summary of Petition Received

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of petition for exemption received.

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SUMMARY: This notice contains a summary of a petition seeking relief
from specified requirements of 14 CFR. The purpose of this notice is to
improve the public's awareness of, and participation in, this aspect of
FAA's regulatory activities. Neither publication of this notice nor the
inclusion or omission of information in the summary is intended to
affect the legal status of the petition or its final disposition.

DATES: Comments on this petition must identify the petition docket
number and must be received on or before April 10, 2015.

ADDRESSES: You may send comments identified by Docket Number FAA-2015-
0156 using any of the following methods:
     Government-wide rulemaking Web site: Go to http://www.regulations.gov and follow the instructions for sending your
comments electronically.
     Mail: Send comments to the Docket Management Facility;
U.S. Department of Transportation, 1200 New Jersey Avenue SE., West
Building Ground Floor, Room W12-140, Washington, DC 20590.
     Fax: Fax comments to the Docket Management Facility at
202-493-2251.
     Hand Delivery: Bring comments to the Docket Management
Facility in Room W12-140 of the West Building Ground Floor at 1200 New
Jersey Avenue SE., Washington, DC, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.
    Privacy: We will post all comments we receive, without change, to
http://www.regulations.gov, including any personal information you
provide. Using the search function of our docket Web site, anyone can
find and read the comments received into any of our dockets, including
the name of the

individual sending the comment (or signing the comment for an
association, business, labor union, etc.). You may review DOT's
complete Privacy Act Statement in the Federal Register published on
April 11, 2000 (65 FR 19477-78).
    Docket: To read background documents or comments received, go to
http://www.regulations.gov at any time or to the Docket Management
Facility in Room W12-140 of the West Building Ground Floor at 1200 New
Jersey Avenue SE., Washington, DC, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT: Timoleon Mouzakis, Federal Aviation
Administration, Engine and Propeller Directorate, Standards Staff, ANE-
111, 12 New England Executive Park, Burlington, Massachusetts 01803-
5229;<PHONE_NUMBER>; facsimile:<PHONE_NUMBER>; email:
<EMAIL_ADDRESS>    This notice is published pursuant to 14 CFR 11.85.

    Issued in Washington, DC, on March 24, 2015.
Dale Bouffiou,
Acting, Director, Office of Rulemaking.

Petition for Exemption

    Docket No.: FAA-2015-0156.
    Petitioner: Rolls-Royce plc.
    Section of 14 CFR Affected: Section 33.27 (f)(6).
    Description of Relief Sought: The petitioner seeks relief from
Sec.  33.27 (f)(6) for the Rolls-Royce Trent 1000-AE, -CE, -AE2, and -
CE2 engine models, to exclude the entire high-pressure shaft system
from consideration in determining the highest overspeed that would
result from a complete loss of load on a turbine rotor.

[FR Doc. 2015-07383 Filed 3-30-15; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register: April 10, 2007 (Volume 72, Number 68)]
[Notices]
[Page 17885-17886]
[DOCID:fr10ap07-55]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. RP07-383-000]

CenterPoint Energy Gas Transmission Company; Notice of Tariff
Filing and Crediting Revenue Report

April 4, 2007.
    Take notice that on March 30, 2007, CenterPoint Energy Gas
Transmission Company (CEGT) tendered for filing as part of its FERC Gas
Tariff, Sixth Revised Volume No. 1, the following revised tariff sheets
to be effective May 1, 2007:

Twelfth Revised Sheet No. 17
Eleventh Revised Sheet No. 18

    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211 and 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed in accordance with the provisions of
Section 154.210 of the Commission's regulations (18 CFR 154.210).
Anyone filing an intervention or protest must serve a copy of that
document on the Applicant. Anyone filing an intervention or protest on
or before the intervention or protest date need not serve motions to
intervene or protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and

interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov.
 Persons unable to file electronically should submit an

original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the

``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For

TTY, call<PHONE_NUMBER>.

Philis J. Posey,
Acting Secretary.
[FR Doc. E7-6685 Filed 4-9-07; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 86, Number 190 (Tuesday, October 5, 2021)]
[Notices]
[Pages 55105-55106]
[FR Doc No: 2021-21641]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Summary Notice No. 2021-01]

Petition for Exemption; Summary of Petition Received; Merck &
Co., Inc.

AGENCY: Federal Aviation Administration (FAA), Department of
Transportation (DOT).

ACTION: Notice.

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SUMMARY: This notice contains a summary of a petition seeking relief
from specified requirements of Federal Aviation Regulations. The
purpose of this notice is to improve the public's awareness of, and
participation in, the FAA's exemption process. Neither publication of
this notice nor the inclusion nor omission of information in the
summary is intended to affect the legal status of the petition or its
final disposition.

DATES: Comments on this petition must identify the petition docket
number and must be received on or before October 25, 2021.

ADDRESSES: Send comments identified by docket number FAA-2021-0709
using any of the following methods:
     Federal eRulemaking Portal: Go to http://www.regulations.gov and follow the online instructions for sending your
comments electronically.
     Mail: Send comments to Docket Operations, M-30; U.S.
Department of Transportation, 1200 New Jersey Avenue SE, Room W12-140,
West Building Ground Floor, Washington, DC 20590-0001.
     Hand Delivery or Courier: Take comments to Docket
Operations in Room W12-140 of the West Building Ground Floor at 1200
New Jersey Avenue SE, Washington, DC 20590-0001, between 9 a.m. and 5
p.m., Monday through Friday, except Federal holidays.
     Fax: Fax comments to Docket Operations at<PHONE_NUMBER>.
    Privacy: In accordance with 5 U.S.C. 553(c), DOT solicits comments
from the public to better inform its rulemaking process. DOT posts
these comments, without edit, including any personal information the
commenter provides, to

http://www.regulations.gov, as described in the system of records
notice (DOT/ALL-14 FDMS), which can be reviewed at http://www.dot.gov/privacy.
    Docket: Background documents or comments received may be read at
http://www.regulations.gov at any time. Follow the online instructions
for accessing the docket or go to the Docket Operations in Room W12-140
of the West Building Ground Floor at 1200 New Jersey Avenue SE,
Washington, DC 20590-0001, between 9 a.m. and 5 p.m., Monday through
Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT: Alphonso Pendergrass,
<EMAIL_ADDRESS>Office of Rulemaking, Federal Aviation
Administration, 800 Independence Avenue SW, Washington, DC 20591.
    This notice is published pursuant to 14 CFR 11.85.

    Issued in Washington, DC.
Timothy R. Adams,
Acting Executive Director, Office of Rulemaking.

Petition for Exemption

    Docket No.: FAA-2021-0709.
    Petitioner: Merck & Co., Inc.
    Section(s) of 14 CFR Affected: Sec.  91.211(b)(1)(ii).
    Description of Relief Sought: Merck seeks an alternative means of
compliance for 14 CFR 91.211(b)(1)(ii) that will permit it to fly above
FL 410 without one pilot wearing an oxygen mask. This request is based
on additional conditions and limitations as well as the design features
of the Gulfstream G550/650 aircraft designed to reduce the likelihood
of decompression and provide for an automated emergency descent in the
event of a decompression.

[FR Doc. 2021-21641 Filed 10-4-21; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 87, Number 12 (Wednesday, January 19, 2022)]
[Notices]
[Pages 2968-2971]
[FR Doc No: 2022-00880]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93967; File No. SR-EMERALD-2021-45]

Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend
Its Fee Schedule

January 12, 2022.
    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 30, 2021, MIAX Emerald, LLC (``MIAX
Emerald'' 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.
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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 Substance
of the Proposed Rule Change

    The Exchange is filing a proposal to amend the MIAX Emerald Fee
Schedule (the ``Fee Schedule'').
    The text of the proposed rule change is available on the Exchange's
website at http://www.miaxoptions.com/rule-filings/emerald, 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 Section 1(a)(i) of the Fee Schedule
to: (i) Decrease Simple Maker (as defined below) rebates in certain
Tiers for options transactions in Penny classes (as defined below) for
the Market Maker Origin \3\; and (ii) make several non-substantive
formatting changes to the Exchange Rebates/Fees tables in Section
1(a)(i) of the Fee Schedule.
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    \3\ The term ``Market Maker'' refers to ``Lead Market Maker''
(``LMM''), ``Primary Lead Market Maker'' (``PLMM'') and ``Registered
Market Maker'' (``RMM''), collectively. See the Definitions Section
of the Fee Schedule and Exchange Rule 100.
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Background
    The Exchange currently assesses transaction rebates and fees to all
market participants, which are based upon a threshold tier structure
(``Tier''). Tiers are determined on a monthly basis and are based on
three alternative calculation methods, as defined in Section 1(a)(ii)
of the Fee Schedule. The calculation method that results in the highest
Tier achieved by the Member \4\ shall apply to all Origin types by the
Member, except the Priority Customer \5\ Origin type (calculation of
Tiers discussed below). The monthly volume thresholds for each method,
associated with each Tier, are calculated as the total monthly volume
executed by the Member in all options classes on MIAX Emerald in the
relevant Origins and/or applicable liquidity, not including Excluded
Contracts,\6\ (as the numerator) expressed as a percentage of (divided
by) Customer Total Consolidated Volume (``CTCV'') (as the denominator).
CTCV is calculated as the total national volume cleared at The Options
Clearing Corporation (``OCC'') in the Customer range in those classes
listed on MIAX Emerald for the month for which fees apply, excluding
volume cleared at the OCC in the Customer range executed during the
period of time in which the Exchange experiences an ``Exchange System
Disruption'' \7\ (solely in the option classes of the affected Matching
Engine).\8\ In addition, the per contract transaction rebates and fees
shall be applied retroactively to all eligible volume once the Tier has
been reached by the Member. Members that place resting liquidity, i.e.,
orders on the MIAX Emerald System, will be assessed the specified
``maker'' rebate or fee (each a ``Maker'') and Members that execute
against resting liquidity will be assessed the specified ``taker'' fee
or rebate (each a ``Taker'').\9\ Members are also assessed lower
transaction fees and smaller rebates for order executions in standard
option classes in the Penny Interval Program \10\ (``Penny classes'')
than for order executions in standard option classes which are not in
the Penny Program (``non-Penny classes''), for which Members will be
assessed a higher transaction fees and larger rebates.
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    \4\ ``Member'' means an individual or organization approved to
exercise the trading rights associated with a Trading Permit.
Members are deemed ``members'' under the Exchange Act. See the
Definitions Section of the Fee Schedule and Exchange Rule 100.
    \5\ ``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 account(s). See Exchange Rule
100, including Interpretation and Policy .01.
    \6\ ``Excluded Contracts'' means any contracts routed to an away
market for execution. See the Definitions Section of the Fee
Schedule.
    \7\ The term ``Exchange System Disruption'' means an outage of a
Matching Engine or collective Matching Engines for a period of two
consecutive hour or more, during trading hours. See the Definitions
Section of the Fee Schedule.
    \8\ A ``Matching Engine'' is a part of the MIAX Emerald
electronic system that processes options orders and trades on a
symbol-by-symbol basis. See the Definitions Section of the Fee
Schedule.
    \9\ For a Priority Customer complex order taking liquidity in
both a Penny class and non-Penny class against Origins other than
Priority Customer, the Priority Customer order will receive a rebate
based on the Tier achieved.
    \10\ See Securities Exchange Act Release No. 88993 (June 2,
2020), 85 FR 35145 (June 8, 2020) (SR-EMERALD-2020-05) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To
Amend Exchange Rule 510, Minimum Price Variations and Minimum
Trading Increments, To Conform the Rule to Section 3.1 of the Plan
for the Purpose of Developing and Implementing Procedures Designed
To Facilitate the Listing and Trading of Standardized Options) (the
``Penny Program'').
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    For the Priority Customer Origin type, the Tier applied for a
Member and its Affiliates' \11\ is solely determined by

calculation Method 3, as defined in Section 1(a)(ii) of the Fee
Schedule, titled ``Total Priority Customer, Maker sides volume, based
on % of CTCV (`Method 3').''
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    \11\ ``Affiliate'' means (i) an affiliate of a Member of at
least 75% common ownership between the firms as reflected on each
firm's Form BD, Schedule A, or (ii) the Appointed Market Maker of an
Appointed EEM (or, conversely, the Appointed EEM of an Appointed
Market Maker). An ``Appointed Market Maker'' is a MIAX Emerald
Market Maker (who does not otherwise have a corporate affiliation
based upon common ownership with an EEM) that has been appointed by
an EEM and an ``Appointed EEM'' is an EEM (who does not otherwise
have a corporate affiliation based upon common ownership with a MIAX
Emerald Market Maker) that has been appointed by a MIAX Emerald
Market Maker, pursuant to the following process. A MIAX Emerald
Market Maker appoints an EEM and an EEM appoints a MIAX Emerald
Market Maker, for the purposes of the Fee Schedule, by each
completing and sending an executed Volume Aggregation Request Form
by email to [email protected] no later than 2 business days
prior to the first business day of the month in which the
designation is to become effective. Transmittal of a validly
completed and executed form to the Exchange along with the
Exchange's acknowledgement of the effective designation to each of
the Market Maker and EEM will be viewed as acceptance of the
appointment. The Exchange will only recognize one designation per
Member. A Member may make a designation not more than once every 12
months (from the date of its most recent designation), which
designation shall remain in effect unless or until the Exchange
receives written notice submitted 2 business days prior to the first
business day of the month from either Member indicating that the
appointment has been terminated. Designations will become operative
on the first business day of the effective month and may not be
terminated prior to the end of the month. Execution data and reports
will be provided to both parties. See the Definitions Section of the
MIAX Emerald Fee Schedule.
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Decrease to Simple Maker Rebates in Certain Tiers for Options in Penny
Classes for the Market Maker Origin
    The Exchange proposes to amend Section 1(a)(i) of the Fee Schedule
to decrease certain Simple Maker rebates in Tiers 1 and 2 for options
in Penny Classes for the Market Maker Origin. Currently, the Exchange
provides a Simple Maker rebate of ($0.35) for Members that achieve
Tiers 1 and 2 for options transactions in Penny Classes for the Market
Maker Origin. The Exchange now proposes to decrease these rebates. In
particular, the Exchange proposes to provide Simple Maker rebates of
($0.30) and ($0.33) for Members that achieve Tiers 1 and 2,
respectively, for options transactions in Penny Classes for the Market
Maker Origin.
    The purpose of adjusting the specified Simple Maker rebates is for
business and competitive reasons. In order to attract order flow, the
Exchange initially set its Maker rebates so that they were meaningfully
higher than other options exchanges that operate comparable maker/taker
pricing models.\12\ The Exchange now believes that it is appropriate to
adjust these specified Maker rebates so that they are more in line with
other exchanges, but will still remain highly competitive such that
they should enable the Exchange to continue to attract order flow and
maintain market share.\13\
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    \12\ See Securities Exchange Act Release No. 85393 (March 21,
2019), 84 FR 11599 (March 27, 2019) (SR-EMERALD-2019-15).
    \13\ See NYSE Arca Options Fees and Charges, Market Maker Penny
and SPY Posting Credit Tiers, page 10 (``Base'' tier rebate of
($0.28) and ``Select Tier'' rebate of ($0.32)); Cboe BZX Options
Exchange Fee Schedule, Transaction Fees, Market Maker (base tier
rebate of ($0.29) and tier rebate of ($0.33)).
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Formatting Changes to Tables of Exchange Rebates/Fees
    Next, the Exchange proposes to amend tables in Section 1(a)(i) of
the Fee Schedule for the Exchange's rebates and fees for Penny Classes
and non-Penny Classes to make non-substantive formatting changes to
several Tiers for the Priority Customer Origin. The Exchange proposes
to amend the Complex \14\ Maker rebates in Tiers 1-4 for the Priority
Customer Origin when contra to Priority Customer Origin for Penny and
non-Penny Classes to align the rebates with footnote ``*''. When the
Exchange established the initial Fee Schedule, it adopted footnote
``*'', which provides as follows: ``Priority Customer Complex Orders
contra to Priority Customer Complex Orders are neither charged nor
rebated. Priority Customer Complex Orders that leg into the Simple book
are neither charged nor rebated.'' \15\ Accordingly, the Exchange
proposes to amend the Complex Maker rebates in Tiers 1-4 for the
Priority Customer Origin when contra to Priority Customer Origin for
Penny and non-Penny Classes so that all these rebates will be listed in
the tables as ``($0.00)'' to align with footnote ``*''. The purpose of
these proposed changes is to reconcile Complex Maker rebates for the
Priority Customer Origin in Tiers 1-4 when contra to Priority Customer
Origin with footnote ``*'' to eliminate potential confusion between the
tables and the footnotes below the tables. The Exchange notes that
these proposed changes will have no impact on the application of the
tiers to the Priority Customer Origin or the footnote ``*''.
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    \14\ See Exchange Rule 518(a)(5) for the definition of a Complex
Order.
    \15\ See supra note 12.
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Implementation
    The proposed changes are scheduled to become operative January 1,
2022.
2. Statutory Basis
    The Exchange believes that its proposal to amend its Fee Schedule
is consistent with Section 6(b) of the Act \16\ in general, and
furthers the objectives of Section 6(b)(4) of the Act,\17\ in that it
is an equitable allocation of reasonable dues, fees and other charges
among Exchange members and issuers and other persons using its
facilities, and 6(b)(5) of the Act,\18\ in that it is 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 facilitating transactions in
securities, to 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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    \16\ 15 U.S.C. 78f(b).
    \17\ 15 U.S.C. 78f(b)(4).
    \18\ 15 U.S.C. 78f(b)(1) and (b)(5).
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    The Commission has repeatedly expressed its preference for
competition over regulatory intervention in determining prices,
products, and services in the securities markets. In Regulation NMS,
the Commission highlighted the importance of market forces in
determining prices and SRO revenues and, also, recognized that current
regulation of the market system ``has been remarkably successful in
promoting market competition in its broader forms that are most
important to investors and listed companies.'' \19\
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    \19\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496 (June 29, 2005).
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    There are currently 16 registered options exchanges competing for
order flow. Based on publicly-available information, and excluding
index-based options, no single exchange has more than approximately 15%
market share.\20\ Therefore, no exchange possesses significant pricing
power. More specifically, as of December 13, 2021, the Exchange had a
market share of approximately 5.03% of executed volume of multiply-
listed equity and exchange traded fund (``ETF'') options for the month
of December 2021.\21\
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    \20\ See ``The Market at a Glance,'' (last visited December 13,
2021), available at https://www.miaxoptions.com/.
    \21\ See id.
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    The Exchange believes that the ever-shifting market share among the
exchanges from month to month demonstrates that market participants can
discontinue or reduce use of certain categories of products and
services, terminate an existing membership or determine to not become a
new member, and/or shift order flow, in response to transaction fee
changes. For example, on February 28, 2019, the Exchange's affiliate,
MIAX PEARL, LLC (``MIAX Pearl'') filed with the Commission a proposal
to increase Taker fees in certain Tiers for options transactions in
certain Penny classes for Priority Customers and decrease Maker rebates
in certain Tiers for options transactions in Penny classes for Priority
Customers (which fee was to be effective March 1, 2019).\22\ MIAX Pearl
experienced a decrease in total market share for the month of March
2019, after the proposal

went into effect. Accordingly, the Exchange believes that the MIAX
Pearl March 1, 2019 fee change, to increase certain transaction fees
and decrease certain transaction rebates, may have contributed to the
decrease in MIAX Pearl's market share and, as such, the Exchange
believes competitive forces constrain the Exchange's, and other options
exchanges, ability to set transaction fees and market participants can
shift order flow based on fee changes instituted by the exchanges.
---------------------------------------------------------------------------

    \22\ See Securities Exchange Act Release No. 85304 (March 13,
2019), 84 FR 10144 (March 19, 2019) (SR-PEARL-2019-07).
---------------------------------------------------------------------------

    The Exchange believes its proposal to decrease Simple Maker rebates
in certain Tiers for options transactions in Penny Classes for Market
Makers is reasonable, equitable and not unfairly discriminatory because
all similarly situated market participants in the same Origin type are
subject to the same tiered Maker rebates and access to the Exchange is
offered on terms that are not unfairly discriminatory. The Exchange
believes it is equitable and not unfairly discriminatory to reduce the
Simple Maker rebates for Market Maker quotes or orders in Penny Classes
for business and competitive business reasons. The Exchange initially
set its Simple Maker rebates for such orders higher than certain other
options exchanges that operate comparable maker/taker pricing models.
The Exchange now believes that it is appropriate to further decrease
those specified Simple Maker rebates so that they are more in line with
other exchanges, and will still remain highly competitive such that
they should enable the Exchange to continue to attract order flow and
maintain market share.\23\ The Exchange believes that the amount of
such rebates, as proposed, will continue to encourage those market
participants to send quotes or orders to the Exchange.
---------------------------------------------------------------------------

    \23\ See supra note 13.
---------------------------------------------------------------------------

    The Exchange believes the proposed formatting changes are
consistent with Section 6(b)(4) of the Act in that they are reasonable,
equitable, and not unfairly discriminatory because they are non-
substantive, clarifying changes regarding the Exchange's Complex Maker
rebates in Tiers 1-4 for the Priority Customer Origin when contra to
Priority Customer Origin for Penny and non-Penny Classes. The Exchange
believes that the proposed formatting changes will reduce the risk of
confusion to market participants. The proposed changes promote just and
equitable principles of trade, remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general protect investors and the public interest by reconciling the
Complex Maker rebates listed in Tiers 1-4 for the Priority Customer
Origin when contra to Priority Customer Origin for Penny and non-Penny
Classes and the description of the rebates for that type of transaction
in footnote ``[hairsp]*[hairsp]'', below the tables. The Exchange
believes that these proposed changes will provide greater clarity to
Members and the public regarding the Exchange's Fee Schedule and that
it is in the public interest for the Fee Schedule to be accurate and
concise so as to eliminate the potential for confusion.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule changes will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act.
Intra-Market Competition
    The Exchange believes that the proposed changes in the specified
Simple Maker rebates for the applicable market participants should
continue to encourage the provision of liquidity that enhances the
quality of the Exchange's market and increases the number of trading
opportunities on the Exchange for all participants who will be able to
compete for such opportunities. The proposed rule changes should enable
the Exchange to continue to attract and compete for order flow with
other exchanges. However, this competition does not create an undue
burden on competition but rather offers all market participants the
opportunity to receive the benefit of competitive pricing.
Inter-Market Competition
    The Exchange 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. There are currently 16
registered options exchanges competing for order flow. Based on
publicly-available information, and excluding index-based options, no
single exchange has exceeded approximately 15% of the market share of
executed volume of multiply-listed equity and ETF options trades as of
December 13, 2021, for the month of December 2021.\24\ Therefore, no
exchange possesses significant pricing power in the execution of
multiply-listed equity and ETF options order flow. More specifically,
as of December 13, 2021, the Exchange had a market share of
approximately 5.03% of executed volume of multiply-listed equity and
ETF options for the month of December 2021.\25\ In such an environment,
the Exchange must continually adjust its transaction and non-
transaction fees to remain competitive with other exchanges and to
attract order flow. The Exchange believes that the proposed rule
changes reflect this competitive environment because they modify the
Exchange's rebates in a manner that will allow the Exchange to remain
competition for Market Maker volume. To the extent this is achieved,
all the Exchange's market participants should benefit from the improved
market quality.
---------------------------------------------------------------------------

    \24\ See supra note 20.
    \25\ See id.
---------------------------------------------------------------------------

Formatting Changes
    The Exchange believes the proposed formatting changes will not
impose any burden on intra-market competition as the proposed rule
change will have no impact on competition as it is not designed to
address any competitive issue but rather is designed to remedy minor
non-substantive issues and provide added clarity to the Fee Schedule.
In addition, the Exchange does not believe the proposal will impose any
burden on inter-market competition as the proposal does not address any
competitive issues and is intended to protect investors by providing
further transparency regarding the Exchange's Fee Schedule.

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,\26\ and Rule 19b-4(f)(2) \27\ thereunder.
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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    \26\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \27\ 17 CFR 240.19b-4(f)(2).

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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 protected]. Please include
File Number SR-EMERALD-2021-45 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-EMERALD-2021-45. 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 website (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 website 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. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-EMERALD-2021-45, and should be submitted
on or before February 9, 2022.
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    \28\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\28\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-00880 Filed 1-18-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: July 24, 2009 (Volume 74, Number 141)]
[Notices]
[Page 36695]
[DOCID:fr24jy09-62]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. QF84-377-015]

Colstrip Energy Limited Partnership; Notice of Filing

July 17, 2009.
    Take notice that on July 15, 2009, Colstrip Energy Limited
Partnership (Colstrip) filed with the Commission an application for
recertification of a facility as a qualifying small power production
facility.
    The facility is a small power production facility located in
Rosebud County near Colstrip, Montana. The facility uses and will
continue to use waste coal as its primary energy source. Colstrip seeks
recertification authorizing a ``backup'' waste fuel to be used as the
primary energy source for the facility in the event of an interruption
in the supply of the facility's current, Commission-approved primary
energy source.
    NorthWestern Corporation interconnects with the facility, purchases
the useful electric output of the facility, and supplies any required
supplementary, backup and maintenance power required by the facility.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed on or before the comment date.
Anyone filing a motion to intervene or protest must serve a copy of
that document on the Applicant and all the parties in this proceeding.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://
www.ferc.gov. Persons unable to file electronically should submit an
original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the
``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.
    Comment Date: 5 p.m. Eastern Time on August 5, 2009.

Kimberly D. Bose,
Secretary.
[FR Doc. E9-17690 Filed 7-23-09; 8:45 am]

BILLING CODE 6717-01-P