[Federal Register Volume 77, Number 136 (Monday, July 16, 2012)]
[Notices]
[Pages 41864-41868]
[FR Doc No: 2012-17197]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67379; File No. SR-EDGX-2012-26]

 Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
Amendments to the EDGX Exchange, Inc. Fee Schedule

July 10, 2012.
    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 June 29, 2012, EDGX Exchange, Inc. (the ``Exchange'' or
``EDGX'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III 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 Substance
of the Proposed Rule Change

    The Exchange proposes to amend its fees and rebates applicable to
Members \3\ of the Exchange pursuant to EDGX Rule 15.1(a) and (c). All
of the changes described herein are applicable to EDGX Members. The
text of the proposed rule change is available on the Exchange's
Internet Web site at http://www.directedge.com, at the Exchange's
principal office, and at the Public Reference Room of the Commission.
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    \3\ A Member is any registered broker or dealer, or any person
associated with a registered broker or dealer, that has been
admitted to membership in the Exchange.
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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 these statements may be examined at
the places specified in Item IV below. The self-regulatory organization
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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to add Flag PR to its fee schedule. Flag PR
will be yielded when a Member removes liquidity from the EDGX book
using the ROUQ \4\ routing strategy. The Exchange proposes to assess a
charge of $0.0027 per share. In addition, a technical amendment is
proposed to be made to Footnote 13 to include it as an additional
removal flag in clause (ii) of that footnote.
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    \4\ See Exchange Rule 11.9(b)(3)(c)(iv).
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    In order to provide additional transparency to Members on the
Exchange's fee schedule by distinguishing between orders that are
routed using the ROUQ strategy and orders that are routed using the
ROUC \5\ routing strategy, the Exchange proposes to add Flag RQ to the
Exchange's fee schedule. Flag RQ will be yielded when a Member routes
an order using the ROUQ routing strategy. The Exchange proposes to
assess a charge of $0.0027 per share instead of the current charge of
$0.0020 per share. In addition, the Exchange proposes to make
conforming changes to Flag Q to delete the reference to the ROUQ
routing strategy.
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    \5\ See Exchange Rule 11.9(b)(3)(a).
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    The Exchange proposes to amend Footnote 1 of the fee schedule to
state that Members can qualify for the Market Depth tier and receive a
rebate of $0.0033 per share for displayed liquidity added on EDGX if
they post greater than or equal to 0.50% of the Total Consolidated
Volume in Average Daily Volume on EDGX in total, where at least 2
million shares are Non-Displayed Orders that yield Flag HA.
    The Exchange also proposes to amend Flag K to only apply to
Members' orders

routed to NASDAQ OMX PSX (``PSX'') using the ROUC or ROUE routing
strategy as defined in Rule 11.9(b)(3). The Exchange proposes to reduce
the rate from $0.0025 per share to $0.0005 per share, which represents
a pass-through of the Exchange's rate for routing orders to PSX, in
response to the proposed pricing changes in PSX's pending filing with
the Commission.\6\ Accordingly, where Members' orders are routed to the
BATS BZX Exchange (``BATS BZX'') using the ROBA routing strategy (EDGX
+ BATS), the Exchange proposes to apply Flag X, which is yielded when
Members route orders through EDGX and the Exchange assesses a charge of
$0.0029 per share.
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    \6\ See PSX's Equity Trader Alert 2012-28 at http://www.nasdaqtrader.com/TraderNews.aspx?id=ETA2012-28 (discussing PSX's
pending fee changes effective July 2, 2012).
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    Similarly, the Exchange also proposes to amend the rate for Flag
RS, which is yielded when Members route orders to PSX that add
liquidity. The Exchange proposes to amend the pricing for Flag RS from
a rebate of $0.0024 per share to a charge of $0.0005 per share (in
response to PSX's pending filing), which represents a pass-through of
the Exchange's rate for routing orders to PSX.
    The Exchange proposes to implement these amendments to its fee
schedule on July 1, 2012.
2. Statutory Basis
    The Exchange believes that the proposed rule changes are consistent
with the objectives of Section 6 of the Act,\7\ in general, and
furthers the objectives of Section 6(b)(4),\8\ in particular, as it is
designed to provide for the equitable allocation of reasonable dues,
fees and other charges among its members and other persons using its
facilities.
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    \7\ 15 U.S.C. 78f.
    \8\ 15 U.S.C. 78f(b)(4).
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    Exchange Rule 11.9(b)(3) defines the ``System routing table'' as
the proprietary process for determining the specific trading venues to
which the System \9\ routes orders and the order in which the System
routes them. Specifically, the Exchange reserves the right to maintain
a different System routing table for different routing options and to
modify the System routing table at any time without notice. ROUQ is one
of the routing strategies that checks the System for available shares
before sending the order to other destinations on the System routing
table, and if shares remain unexecuted after routing, then the shares
are posted on the EDGX book unless the Member instructs otherwise. The
Exchange proposes to reduce the number of destinations in the System
routing table for the ROUQ routing strategy, and the Exchange proposes
to make conforming changes to the fee schedule to reflect this change.
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    \9\ See Exchange Rule 1.5(cc).
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    The Exchange believes that the proposed rate of $0.0027 per share
for Flag PR for orders that remove liquidity from the EDGX book using
the ROUQ routing strategy is an equitable allocation of reasonable
dues, fees, and other charges in comparison to the standard removal
rate of $0.0029 per share because the Exchange is able to pass back the
savings it receives from routing to other destinations on the Systems
routing table to the Exchange's Members. The more destinations that an
order is routed to can lead to a potentially lower average rate for
Direct Edge ECN LLC d/b/a DE Route (``DE Route''), the Exchange's
affiliated routing broker/dealer, as there is more of a likelihood of
an execution at a ``low'' cost destination with higher rebates/lower
fees. Conversely, the less destinations that an order is routed to can
lead to a potentially higher average rate for DE Route as there is a
greater chance that it is executed at a higher cost destination with
lower rebates/higher fees. This rate is also consistent with the
processing of similar routing strategies by BATS where BATS takes into
account the rates that it is charged or rebated when routing to other
destinations.\10\ In addition, the reduced fee of $0.0027 per share is
designed to incentivize Members to route through EDGX first before
going to other destinations on the System routing table, and thereby
potentially increases volume on EDGX to the extent the order executes
on EDGX. The Exchange also believes that the proposed rate is non-
discriminatory in that it applies uniformly to all Members.
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    \10\ See Securities Exchange Act Release No. 66335 (February 6,
2012), 77 FR 7225 (February 10, 2012) (SR-EDGA-2012-03) (citing to
the proposition that Members of the EDGA Exchange, Inc. (``EDGA'')
are able to share in cost savings realized by EDGA when routing
orders to other destinations). The concept is also seen generally in
the BATS BZX fee schedule, describing Discounted Destination
Specific Routing (``One Under'') to NYSE, NYSE ARCA and NASDAQ. See
Securities Exchange Act Release No. 62858 (September 7, 2010), 75 FR
55838 (September 14, 2010) (SR-BATS-2010-023) (modifying the BATS
fee schedule in order to amend the fees for its BATS + NYSE Arca
destination specific routing option to continue to offer a ``one
under'' pricing model).
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    Currently, the Exchange assesses a rate of $0.0020 per share for
Flag Q for routing strategies ROUQ or ROUC. As discussed above, the
Exchange modified its System routing table so that routing strategy
ROUQ will route to a lower number of destinations than routing strategy
ROUC. Therefore, the Exchange proposes adding Flag RQ to reflect orders
routed using ROUQ and amending Flag Q to apply only for orders routed
using the ROUC routing strategy. The Exchange believes increasing the
rate charged for routing strategy ROUQ from $0.0020 per share to
$0.0027 (Flag RQ) per share represents an equitable allocation of
reasonable dues, fees, and other charges. The more destinations that an
order is routed to can lead to a potentially lower average rate for DE
Route as there is more of a likelihood of an execution at a ``low''
cost destination with higher rebates/lower fees. Conversely, the less
destinations that an order is routed to can lead to a potentially
higher average rate for DE Route as there is a greater chance that it
is executed at a higher cost destination with lower rebates/higher
fees. Accordingly, the lower number of destinations associated with the
ROUQ routing strategy on the revised System routing table affords the
Member less likelihood of execution at an away destination because
there are fewer available liquidity venues.
    Currently, the standard rate for routing on EDGX is $0.0029 per
share and yields Flag X. The Exchange believes that assessing a rate of
$0.0027 for Flag RQ for orders that route to destinations using the
routing strategy ROUQ represents an equitable allocation of reasonable
dues, fees, and other charges because the Exchange can pass back the
savings it receives from routing to other destinations to its Members,
as described in more detail above.\11\ In addition, the Exchange
believes that the proposed rate is non-discriminatory because the rate
applies uniformly to all Members.
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    \11\ Id.
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    The Exchange believes that adding the Market Depth Tier to achieve
a rebate of $0.0033 per share represents an equitable allocation of
reasonable dues, fees, and other charges since it encourages Members to
add displayed liquidity to EDGX book each month as only the displayed
liquidity in this tier is awarded the rebate of $0.0033 per share.\12\
This tier also recognizes the contribution that non-displayed liquidity
provides to the marketplace, including: (i) Adding needed depth to the
EDGX market; (ii) providing price support/depth of liquidity; and (iii)
increasing diversity of liquidity to EDGX. Furthermore, such increased
displayed volume increases potential

revenue to the Exchange, and would allow the Exchange to spread its
administrative and infrastructure costs over a greater number of
shares, leading to lower per share costs. These lower per share costs
would allow the Exchange to pass on the savings to Members in the form
of higher rebates. The increased liquidity also benefits all investors
by deepening EDGX's liquidity pool, offering additional flexibility for
all investors to enjoy cost savings, supporting the quality of price
discovery, promoting market transparency and improving investor
protection. Volume-based rebates such as the one proposed herein have
been widely adopted in the cash equities markets, and are equitable
because they are open to all Members on an equal basis and provide
discounts that are reasonably related to the value to an exchange's
market quality associated with higher levels of market activity, such
as higher levels of liquidity provision and introduction of higher
volumes of orders into the price and volume discovery processes. The
Exchange believes that such Market Depth Tier is reasonable based on
examples from the Nasdaq OMX's fee schedule, which offers rebates that
are tied to achieving tiers by posting non-displayed liquidity.\13\ In
addition, the Exchange also believes that the proposed Market Depth
tier is non-discriminatory because it applies uniformly to all Members.
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    \12\ The Exchange notes that there is no change to the rebate of
$0.0015 per share for adding non-displayed liquidity.
    \13\ http://www.nasdaqtrader.com/Trader.aspx?id=PriceListTrading2 (where Nasdaq offers rebates to add
non-displayed midpoint liquidity, supplemental liquidity, non-
displayed liquidity).
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    The Exchange believes that the rebate of $0.0033 per share also
represent an equitable allocation of reasonable dues, fees, and other
charges since higher rebates are directly correlated with more
stringent criteria.
    Currently, the Mega Tier rebates of $0.0034/$0.0032 per share have
the most stringent criteria associated with them, and are $0.0003/
$0.0001 greater than the Ultra Tier rebate ($0.0031 per share) and
$0.0006/$0.0004 greater than the Super Tier rebate ($0.0028 per share).
    For example, in order for a Member to qualify for the Mega Tier
rebate of $0.0034, the Member would have to add or route at least 4
million shares of ADV during pre- and post-trading hours and add a
minimum of 20 million shares of ADV on EDGX in total, including during
both market hours and pre- and post-trading hours. The criteria for
this tier is the most stringent as fewer Members generally trade during
pre- and post-trading hours because of the limited time parameters
associated with these trading sessions. The Exchange believes that this
higher rebate awarded to Members would incent liquidity during these
trading sessions.
    In order to qualify for an equivalent rebate of $0.0034 per share
(Mega Tape B tier), a Member would have to (i) post greater than or
equal to .10% of the TCV in ADV more than their January 2012 ADV added
to EDGX; and (ii) post greater than or equal to .10% of the TCV in ADV
in Tape B securities more than their January 2012 ADV (baseline) added
to EDGX. Assuming a TCV for June 2012 of 8.0 billion and a January 2012
ADV of 1 million shares, the Member would have to post greater than or
equal to 9 million shares (8 million shares more than their January
2012 baseline of 1 million shares in ADV added to EDGX), and post
greater than or equal to 9 million shares in Tape B securities to
EDGX).
    In order to qualify for the new Market Depth tier, a Member would
receive a rebate of $0.0033 per share for displayed liquidity added on
EDGX if they post greater than or equal to 0.50% of the TCV in ADV on
EDGX, at least 2 million shares of which are Non-Displayed Orders that
yield Flag HA on EDGX in total. Assuming a TCV of 8.0 billion shares
for June 2012, this would amount to 40 million shares, at least 2
million shares of which are Non-Displayed Orders. The criteria for the
Market Depth Tier, which includes the requirement to post 2 million
shares of Non-Displayed Orders, is more stringent than criteria for the
Mega Tier of posting 0.75% of TCV, as described below, because Non-
Displayed Orders do not have the same ability to attract contra-side
orders to the marketplace because they are hidden on the EDGX book, are
less commonplace than displayed liquidity, and Members are not eligible
for the same rebates that displayed liquidity qualify for.\14\ In
addition, because of the hierarchy of priority in Rule 11.8(a)(2), for
equally priced trading interest, Non-Displayed Orders always have a
lower priority than displayed orders. As a result, a Member has a
priority disadvantage when using such order type and therefore, the
criteria to satisfy this tier are more restrictive than those outlined
in other tiers, below.
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    \14\ Non-Displayed Orders that add liquidity (Flag HA) are
eligible for a $0.0015 per share rebate instead of the default
rebate rate for displayed liquidity of $0.0023 per share.
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    Non-Displayed Orders also represent valuable liquidity to the
Exchange as they add needed depth to the EDGX market and provide price
support/depth of liquidity and diversity of liquidity to EDGX. In
addition, Non-Displayed Orders are included in the Market Depth Tier to
incentivize Members to add displayed liquidity. Because of the higher
margin that the Exchange earns on Non-Displayed Orders vs. displayed
orders (non-displayed orders are charged $0.0029 per share and earn a
$0.0015 per share rebate, as provided in Flag HA, which is a margin of
$0.0014 per share),\15\ the Exchange is able to provide a higher rebate
to displayed orders. The Exchange believes the higher rebate will
attract increased liquidity to EDGX.
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    \15\ By contrast, displayed liquidity only allows the Exchange
to earn a margin of as much as $0.0006 per share assuming no volume
tiers are met (charged $0.0029 per share-$0.0023 per share rebate).
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    In addition, increased volume from the use of this tier increases
potential revenue to the Exchange, and would allow the Exchange to
spread its administrative and infrastructure costs over a greater
number of shares, leading to lower per share costs. These lower per
share costs would allow the Exchange to pass on the savings to Members
in the form of higher rebates. The increased liquidity also benefits
all investors by deepening EDGX's liquidity pool, offering additional
flexibility for all investors to enjoy cost savings, supporting, in
part, the qualities of price discovery and market transparency, and
improving investor protection. Volume-based rebates such as the one
proposed herein have been widely adopted in the cash equities markets,
and are equitable because they are open to all Members on an equal
basis and provide discounts that are reasonably related to the value to
an exchange's market quality associated with higher levels of market
activity, such as higher levels of liquidity provision and introduction
of higher volumes of orders into the price and volume discovery
processes.
    Another way a Member can qualify for the Mega Tier (with a rebate
of $0.0032 per share) would be to post 0.75% of TCV. Assuming an
average TCV for June 2012 (8.0 billion), this would be 60 million
shares on EDGX. A second method to qualify for the rebate of $0.0032
per share would be to post 0.12% of the TCV (9.6 million shares) more
than the Member's February 2011 or December 2011 ADV added to EDGX.
Assuming the Member's February 2011/December 2011 ADVs are 1 million
shares, the Exchange believes that requiring Members to post 10.6
million more shares than a February or December 2011 baseline ADV
encourages Members to add increasing

amounts of liquidity to EDGX each month.
    A Member can also qualify for the Mega Tier rebate of $0.0032 per
share by adding or routing at least 4,000,000 shares of ADV prior to
9:30 a.m. or after 4:00 p.m. (includes all flags except 6) and adding a
minimum of .20% of the TCV on a daily basis measured monthly, including
during both market hours and/or pre- and post-trading hours. Based on
an average TCV for June 2012 (8.0 billion shares), a Member would
qualify by adding 16 million shares during both market hours and/or
pre- and post-trading hours and adding or routing at least 4,000,000
shares of ADV during pre- and post trading hours. The Exchange notes
that fewer Members generally trade during pre- and post-trading hours
because of the limited time parameters associated with these trading
sessions. Therefore, the amount of shares that the Exchange requires to
be added or routed to satisfy this tier is less than for the Ultra
Tier, for example, which is based on posting liquidity to EDGX during
regular trading hours.
    In order to qualify for the Ultra Tier, which has less stringent
criteria than the Mega Tier and Mega Tape B Tier, and be provided a
rebate of $0.0031 per share, the Member would have to post 0.50% of
TCV. Based on average TCV for June 2012 (8.0 billion shares), this
would be 40 million shares on EDGX.
    Members can qualify for the Mini Tape B Tier and be provided a
$0.0030 rebate per share for liquidity added on EDGX if the Member on a
daily basis, measured monthly: (i) posts greater than or equal to .05%
of the TCV in ADV more than their January 2012 ADV added to EDGX; and
(ii) posts greater than or equal to .05% of the TCV in ADV in Tape B
securities more than their January 2012 ADV added to EDGX. Based on a
TCV of 8.0 billion shares for June 2012 and a Member's ADV for January
2012 of 1 million shares (baseline), this would amount to (i) posting
greater than or equal to 5 million shares to EDGX; and (ii) posting
greater than or equal to 5 million shares in Tape B securities to EDGX.
    The Super Tier has the least stringent criteria of the tiers
mentioned above. In order for a Member to qualify for this rebate, the
Member would have to post at least 10 million shares on EDGX and would
qualify for a rebate of $0.0028 per share.
    Another way a Member can qualify for a rebate of $0.0028 per share
is to post 0.065% of the TCV in ADV more than their February 2011 ADV
added to EDGX. This tier allows Members even greater flexibility with
respect to achieving an additional rebate and rewards growth patterns
in volume by Members as this rebate's conditions encourage Members to
add increasing amounts of liquidity to EDGX each month. Based on an ADV
in February 2011 (baseline) of 1,000,000 shares, the Member would have
to add 6.2 million shares total to qualify for such rebate.
    The rates and rebates associated with routing orders to PSX on the
Exchange's fee schedule are pass-through rates. Currently, PSX charges
the Exchange $0.0025 per share for Members' orders that are routed to
PSX using the ROUC or ROUE routing strategy and the Exchange charges
its Members $0.0025 per share as a pass-through. Therefore, the
Exchange believes that the proposed reduction from $0.0025 per share to
$0.0005 per share is equitable and reasonable because PSX is reducing
the rate it charges the Exchange for routing to PSX to $0.0005.
Currently, PSX provides the Exchange a rebate of $0.0024 per share for
Members' orders that are routed to PSX and add liquidity and the
Exchange rebates Members $0.0024 per share as a pass-through (Flag RS).
Therefore, the Exchange believes that the proposed reduction from a
rebate of $0.0024 per share to a charge of $0.0005 per share is
equitable and reasonable because PSX is increasing the rate it charges
the Exchange for routing to PSX to $0.0005 per share. In addition, the
Exchange also believes that the proposed pass-through of this rate is
non-discriminatory because it applies uniformly to all Members.
    The Exchange believes that increasing the charge assessed for
Members' orders that are routed to BATS BZX using the ROBA routing
strategy (EDGX + BATS) from $0.0025 per share to $0.0029 per share
(yielding Flag X) is equitable and reasonable because the Exchange is
removing the $0.0004 per share incentive it previously associated with
this routing strategy and replacing it with a straight pass-through of
the charge BATS BZX assesses the Exchange for removing liquidity from
the BZX Exchange order book.\16\ Accordingly, the Exchange will assess
a charge of $0.0029 per share for Members' orders that route to BATS
BZX using the ROBA routing strategy as well as other routed orders that
yield Flag X. In addition, the Exchange also believes that the proposed
pass-through of this rate is non-discriminatory because it applies
uniformly to all Members.
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    \16\ See BATS BZX fee schedule at http://batstrading.com/FeeSchedule/.
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    The Exchange also notes that it operates in a highly-competitive
market in which market participants can readily direct order flow to
competing venues if they deem fee levels at a particular venue to be
excessive. The proposed rule change reflects a competitive pricing
structure designed to incent market participants to direct their order
flow to the Exchange. The Exchange believes that the proposed rates are
equitable and non-discriminatory in that they apply uniformly to all
Members. The Exchange believes the fees and credits remain competitive
with those charged by other venues and therefore continue to be
reasonable and equitably allocated to Members.

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

    The proposed rule change does not impose any burden on competition
that is not necessary or appropriate in furtherance of the purposes of
the Act.

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

    The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.

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) of the Act \17\ and Rule 19b-4(f)(2) \18\ thereunder. At any
time within 60 days of the filing of such 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.
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    \17\ 15 U.S.C. 78s(b)(3)(A).
    \18\ 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_ADDRESS>Please include
File

Number SR-EDGX-2012-26 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-EDGX-2012-26. 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
a.m. and 3 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-EDGX-2012-26 and should be
submitted on or before August 6, 2012.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\19\
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    \19\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-17197 Filed 7-13-12; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: December 12, 2006 (Volume 71, Number 238)]
[Notices]
[Page 74507-74508]
[DOCID:fr12de06-74]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. EL07-18-000]

New York Independent System Operator, Inc., Complainants v. SCS/
Astoria Energy LLC, Respondent; Notice of Complaint

December 4, 2006.
    Take notice that on December 1, 2006, the New York Independent
System Operator, Inc. (NYISO) tendered for filing a complaint against
SCS/Astoria Energy LLC (SCS Astoria). NYISO alleges that SCS Astoria
failed to adhere to the tariff standards for Installed Capacity (ICAP)
Supplier qualification. NYISO asks the Commission to require SCS
Astoria to conform to the NYISO's services tariff requirements to
qualify as an ICAP Supplier, and requests the Commission to use its
remedial authority to place affected market participants in the
position they would have been in if SCS Astoria had adhered to the
tariff standards for ICAP certification.
    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. The Respondent's
answer and all interventions, or protests must be filed on or before
the comment date. The Respondent's answer, motions to intervene, and
protests must be served on the Complainants.
    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 January 2, 2007.

Magalie R. Salas,
Secretary.
[FR Doc. E6-21067 Filed 12-11-06; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 83, Number 240 (Friday, December 14, 2018)]
[Proposed Rules]
[Page 64299]
[FR Doc No: 2018-27148]

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DEPARTMENT OF COMMERCE

Bureau of Industry and Security

15 CFR Part 744

[Docket No. 180712626-8840-01]
RIN 0694-AH61

Review of Controls for Certain Emerging Technologies

AGENCY: Bureau of Industry and Security, Commerce.

ACTION: Advance notice of proposed rulemaking (ANPRM), Extension of
comment period.

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SUMMARY: The Bureau of Industry and Security (BIS) is extending the
comment period for its November 19, 2018, advanced notice of proposed
rulemaking (ANPRM), ``Review of Controls for Certain Emerging
Technologies'' until January 10, 2019. In response to requests received
from members of the public, BIS believes it is appropriate to extend
the comment period to provide interested parties additional time to
submit their responses to the ANPRM.

DATES: The comment period announced in the notice that was published on
November 19, 2018 (83 FR 58201) is extended. Comments on the ANPRM must
now be received by BIS on or before January 10, 2019.

ADDRESSES: You may submit comments through either of the following:
     Federal eRulemaking Portal: http://www.regulations.gov.
The identification number for this rulemaking is BIS 2018-0024.
     Address: By mail or delivery to Regulatory Policy
Division, Bureau of Industry and Security, U.S. Department of Commerce,
Room 2099B, 14th Street and Pennsylvania Avenue NW, Washington, DC
20230. Refer to RIN 0694-AH61.

FOR FURTHER INFORMATION CONTACT: Kirsten Mortimer, Office of National
Security and Technology Transfer Controls, Bureau of Industry and
Security, Department of Commerce. Phone:<PHONE_NUMBER>; Fax (202) 482-
3355; Email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background

    On November 19, 2018 (83 FR 58201), the Bureau of Industry and
Security (BIS) published an advanced notice of proposed rulemaking,
``Review of Controls for Certain Emerging Technologies,'' which
included a comment period deadline of December 19, 2018. Since
publication, BIS has received requests for additional time to submit
comments. In response to those requests, BIS is extending the public
comment period until January 10, 2019. A description of the specific
topics and issues that BIS would like addressed is outlined in the
November 19, 2018 Federal Register ANPRM.

    Dated: December 10, 2018.
Matthew S. Borman,
Deputy Assistant Secretary for Export Administration.
[FR Doc. 2018-27148 Filed 12-13-18; 8:45 am]
 BILLING CODE 3510-33-P


PAPERWORK REDUCTION ACT SUBMISSION Please read the instructions before completing this form. For additional forms or assistance in completing this form, contact your agency's Paperwork Clearance Officer. Send two copies of this form, the collection instrument to be reviewed, the Supporting Statement and any additional documentation to: Office of Information and Regulatory Affairs, Office of Management and Budget, Docket Library, Room 10102, 725 17th Street NW Washington, DC 20503.

1. Agency/ Subagency originating request Environmental Protection Agency/ Office of Air Quality Planning and Standards 2. OMB control number b. X None a__ __ __ __  __ __ __ __ _ 2060 __ __ __ __

3. Type of information collection ( check one) a.

New collection b. G Revision of a currently approved collection c. G Extension of a currently approved collection d. G Reinstatement, without change, of a previously approved collection for which approval has expired e. G Reinstatement, with change, of a previously approved collection for which approval has expired f. G Existing collection in use without an OMB control number 4. Type of review requested ( check one) a.

Regular b. G Emergency  Approval requested by: / / c. G Delegated 5. Small entities Will this information collection have a significant economic impact on a substantial number of small entities? G Yes

No For b f, note item A2 of Supporting Statement Instructions 6. Requested expiration date a.

Three years from approval date b. G Other Specify: / /___

7. Title Standards of Performance for Stationary Compression Ignition Internal Combustion Engines ( 40 CFR part 60, subpart IIII) ( Proposed Rule)

8. Agency form number( s) ( If applicable) EPA ICR # 2196.01 9. Keywords Clean Air Act, Air pollution control, NSPS, Stationary internal combustion engines, recordkeeping, reporting 10. Abstract The respondents to the information collection are owners or operators of facilities subject to the standards of performance for new stationary compression ignition internal combustion engines. Respondents also include manufacturers who will be required to certify their stationary CI engines to the emission standards established in the rule. The information is requested by the agency to determine compliance with the rule. The information will then be used by enforcement agencies to verify that sources subject to the standard are meeting the emission reductions mandated by the Clean Air Act.

11. Affected public ( Mark primary with " P" and all others that apply with " X") a. Individuals or households d. X Farms b. P Business or other for profit e. X Federal Government c. Not for profit institutions f. X State, Local or Tribal Government 12. Obligation to respond ( Mark primary with " P" and all others that apply with " X") a. G Voluntary b. G Required to obtain or retain benefits c. P Mandatory 13. Annual reporting and recordkeeping hour burden a. Number of respondents 152,546 b. Total annual responses 152,733 1. Percentage of these responses collected electronically 0 % c. Total hours requested 1 d. Current OMB inventory 0 e. Difference 1 f. Explanation of difference 1. Program Change 1 2. Adjustment 0 14. Annual reporting and recordkeeping cost burden ( in thousands of dollars)

a. Total annualized capital/ startup costs $ 0 b. Total annual costs ( O& M) $ 1 c. Total annualized cost requested $ 1 d. Current OMB inventory $ 0 e. Difference $ 1 f. Explanation of difference 1. Program change $ 1 2. Adjustment $ 0 15. Purpose of information collection ( Mark Primary With " P" and all others that apply with " X") a. __ Application for benefits e. __ Program planning or management b. __ Program evaluation f. __ Research c. __ General purpose statistics g. P Regulatory or compliance d. __ Audit 16. Frequency of recordkeeping or reporting ( check all that apply) a. X Recordkeeping b. Q Third party disclosure c. X Reporting 1. Q On occasion 2. Q Weekly 3. Q Monthly 4. Q Quarterly 5. Q Semi annually 6.

Annually 7. Q Biannually 8.

Other ( describe) One time only 17. Statistical methods Does this information collection employ statistical methods?

Q Yes

No 18. Agency contact ( person who can best answer questions regarding the content of this submission) Name: Sims Roy, EPA OAQPS ESD Phone: ( 919) 541 5263 OMB 83 I 10/ 95 19. Certification for Paperwork Reduction Act Submissions On behalf of this Federal agency, 1 certify that the collection of information encompassed by this request complies with' 5 CFR 1320.9.

NOTE: The text of 5 CFR 1320.9, and the related provisions of 5 CFR 1320.8( b)( 3), appear at the end of the instructions. The certification is to be made with reference to those regulatory provisions as set forth in the instructions.

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

( a) It is necessary for the proper performance of agency functions;

( b) It avoids unnecessary duplication;

( c) It reduces burden on small entities;

( d) It uses plain, coherent, and unambiguous terminology that is understandable to respondents;

( e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

( f) It indicates the retention periods for recordkeeping requirements;

( g) It informs respondents of the information called for under 5 CFR 1320.8( b)( 3): ( I) Why the information is being collected; ( ii) Use of information; ( iii) Burden estimate; ( iv) Nature of response ( voluntary, required for a benefit, or mandatory); ( v) Nature and extent of confidentiality; and ( vi) Need to display currently valid OMB control number;

( h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected ( see note in Item 19 of the instructions);

( I) It uses effective and efficient statistical survey methodology; and ( j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item below and explain the reason in Item 18 of the Supporting Statement.

Signature of Program Official Date Signature of Senior Official or designee Oscar Morales, Director Collection Strategies Division Office of Environmental Information Date OMB 83 I 10/ 95 Certification Requirement for Paperwork Reduction Act Submissions 5 CFR 1320.9 reads " As part of the agency submission to OMB of a proposed collection of information, the agency ( through the head of the agency, the Senior Official or their designee) shall certify ( and provide a record supporting such certification) that the proposed collection of information

"( a) is necessary for the proper performance of the functions of the agency, including that the information to be collected will have practical utility;

"( b) is not unnecessarily duplicative of information otherwise reasonably accessible to the agency;

"( c) reduces to the extent practicable and appropriate the burden on persons who shall provide information to or for the agency, including with respect to small entities, as defined in the Regulatory Flexibility Act 5 U. S. C § 601( 6)), the use of such techniques as:

"( 1) establishing differing compliance or reporting requirements or timetables that take into account the resources available to those who are to respond; "( 2) the clarification, consolidation, or simplification of compliance and reporting requirements; or collection of information , or any part thereof; "( 3) an exemption from coverage of the collection of information, or any part thereof;

"( d) is written using plain, coherent, and unambiguous terminology and is understandable to those who are to respond;

"( e) is to be implemented in ways consistent and compatible, to the maximum extent practicable, with the existing reporting and recordkeeping practices of those who are to respond;

"( f) indicates for each recordkeeping requirement the length of time persons are required to maintain the records specified;

"( g) informs potential respondents of the information called for under § 1320.8( b)( 3); [ see below]

"( h) has been developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected, including the processing of the information in a manner which shall enhance, where appropriate, the utility of the information to agencies and the public;

"( I) uses effective and efficient statistical survey methodology appropriate to the purpose for which the information is to be collected; and "( j) to the maximum extent practicable, uses appropriate information technology to reduce burden and improve data quality, agency efficiency and responsiveness to the public."

NOTE: 5 CFR 1320.8( b)( 3) requires that each collection of information:

"( 3) informs and provides reasonable notice to the potential persons to whom the collection of information is addressed of: "( I) the reasons the information is planned to be and/ or has been used to further the proper performance of the functions of the agency; "( ii) the way such information is planned to be and/ or has been used to further the proper performance of the functions of the agency; "( iii) an estimate, to the extent practicable, of the average burden of the collection ( together with a request that the public direct to the agency any comments concerning the accuracy of this burden estimate and any suggestions for reducing this burden); "( iv) whether responses to the collection of information are voluntary, required to obtain or retain a benefit ( citing authority), or mandatory ( citing authority); "( v) the nature and extent of confidentiality to be provided, if any ( citing authority); and "( vi) the fact that any agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number."

OMB 83 I ( Instructions) 10/ 95