[Federal Register Volume 79, Number 194 (Tuesday, October 7, 2014)]
[Notices]
[Page 60462]
[FR Doc No: 2014-23921]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. EL14-8-000]

PJM Interconnection, L.L.C.; Notice of Filing

    Take notice that on September 30, 2014, PJM Interconnection, L.L.C.
filed a refund report to comply with the Federal Energy Regulatory
Commission's (Commission) Order on Complaint issued February 10,
2014.\1\
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    \1\ Vineland Municipal Electric Utility v. Atlantic City
Electric Company et al., 146 FERC ] 61,077 (2014).
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    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. On or
before the comment date, it is not necessary to 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 5 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 electronic 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 email notification when a document is added to a subscribed
docket(s). For assistance with any FERC Online service, please email
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.
    Comment Date: 5:00 p.m. Eastern Time on October 21, 2014.

     Dated: October 1, 2014.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2014-23921 Filed 10-6-14; 8:45 am]
BILLING CODE 6717-01-P


Zones_ 300KM out from Zones_ 100KM out from Zones_ 50KM out from Class I EGU BART source nonEGU BART source surrounding area surrounding area surrounding area areas CLASS I AREAS with NON EGU & EGU BART SOURCES

Zones_ 300KM out from Zones_ 100KM out from Zones_ 50KM out from Class I EGU BART source nonEGU BART source surrounding area surrounding area surrounding area areas CLASS I AREAS with NON EGU BART SOURCES

Zones_ 300KM out from Zones_ 100KM out from Zones_ 50KM out from Class I EGU BART source nonEGU BART source surrounding area surrounding area surrounding area areas CLASS I AREAS with EGU BART SOURCES


[Federal Register: April 12, 2006 (Volume 71, Number 70)]
[Notices]
[Page 18789-18790]
[DOCID:fr12ap06-126]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53597; File No. SR-Amex-2005-112]

Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing of Proposed Rule Change Relating to the Prohibition of
Trade Shredding by Members

April 4, 2006.

    Pursuant to Section 19(b)(1) of the Securities Exchange Act of
1934, as amended, (``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is
hereby given that on November 1, 2005, the American Stock Exchange LLC
(``Amex'' or ``Exchange'') 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
Exchange. On March 27, 2006, the Exchange filed Amendment No. 1 to the
proposed rule change.\3\ The Commission is publishing this notice to
solicit comments on the proposed rule change, as amended, from
interested persons.
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    \1\ 15 U.S.C. 78s(b)(l).
    \2\ 17 CFR 240. 19b-4.
    \3\ See Form 19b-4 dated March 27, 2006 (``Amendment No. 1'').
Amendment No. 1 replaced the original filing in its entirety.
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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 Amex Rule 3 (``General Prohibitions
and Duty to Report'') by adding a new paragraph (i) to prohibit a
member or member organization from splitting trading interest into
multiple orders for any purpose other than seeking the best execution
of the entire order. The text of the proposed rule change, as amended,
appears below. Additions are in italics.

* * * * *

Rule 3. General Prohibitions and Duty To Report

    (a) through (h)--no change.
    (i) It shall be inconsistent with just and equitable principles
of trade for a member or member organization to split trading
interest into multiple orders for any purpose other than seeking the
best execution of the entire order.
* * * * *

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 Amex included statements
concerning the purpose of, and basis for, the proposed rule change, as
amended, and discussed any comments it received on the proposed rule
change, as amended. The text of these statements may be examined at the
places specified in Item IV below. The Amex 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
    ``Trade shredding'' is the practice of splitting large customer
orders for securities into multiple smaller orders for the primary
purpose of increasing the receipt of market data revenue by market
centers that allow or encourage this practice. The practice is based on
the fact that, as a result of the manner in which market data revenues
are calculated, market centers can derive a greater share of market
data revenue by increasing the number of trades they report to the
consolidated tape. For example, Network B, which disseminates
consolidated market information on securities listed on the Amex,
allocates net income based solely on the number of trades reported by a
self-regulatory organization (``SRO''), no matter how small each trade
is.
    The Amex has expressed its serious concern in the past over the
practice of trade shredding. The Exchange believes that trade shredding
is incompatible with just and equitable principles of trade. Among
other things, it constitutes clearly misleading trade reporting in that
it presents a false impression regarding the nature and extent of bona
fide trading activity.
    Some SROs provide incentives for trade shredding by sharing the
increased market data revenue that results from the practice with the
market participants, including non-members, who send in orders for
execution. Such revenue sharing arrangements may create a conflict of
interest between the customers and the market participants handling
their orders if, for example, an order is routed to a market center
based on such revenue incentives instead of the obligation to obtain
best execution for the order.
    The Commission has requested that each SRO adopt rule changes that
would prohibit its members from trade shredding. Although the Amex does
not rebate revenues from tape reporting to members or non-members and
provides no other incentive for its order providers to engage in trade
shredding on orders sent to the Exchange, the Amex is responding to the
Commission's request by adding a new paragraph (i) to Amex Rule 3
(``General Prohibitions and Duty to Report''). This new paragraph would
prohibit a member or member organization from splitting trading
interest into multiple orders for any purpose other than seeking the
best execution of the entire order.

2. Statutory Basis
    The proposed rule change, as amended, is consistent with Section
6(b) of the Act,\4\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\5\ in particular, in that it is designed to promote
just and equitable principles of trade, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and is not designed to permit unfair discrimination between
customers, brokers, or dealers, or to regulate by virtue of any
authority matters not related to the administration of the Exchange.
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange believes that the proposed rule change, as amended,
will impose no 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 neither solicited nor received comments on this
proposal, as amended.

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

    Within 35 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) By order approve such proposed rule change, or
    (B) institute proceedings to determine whether the proposed rule
change should be 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, as amended, 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 e-mail to<EMAIL_ADDRESS>Please include

File Number SR-Amex-2005-112 on the subject line.

Paper comments:

     Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
    All submissions should refer to File Number SR-Amex-2005-112. This
file number should be included on the subject line if e-mail 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 inspection
and copying in the Commission's Public Reference Room. Copies of such
filing also will be available for inspection and copying at the
principal offices of Amex. 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-Amex-2005-112 and should be submitted on or before May 3, 2006.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
 [FR Doc. E6-5363 Filed 4-11-06; 8:45 am]

BILLING CODE 8010-01-P