[Federal Register Volume 77, Number 51 (Thursday, March 15, 2012)]
[Notices]
[Pages 15453-15454]
[FR Doc No: 2012-6206]

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DEPARTMENT OF TRANSPORTATION

Pipeline and Hazardous Materials Safety Administration

[Docket No. PHMSA-2011-0342]

Pipeline Safety: Information Collection Activities

AGENCY: Pipeline and Hazardous Materials Safety Administration (PHMSA),
DOT.

ACTION: Notice and request for comments.

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SUMMARY: On December 27, 2011, in accordance with the Paperwork
Reduction Act of 1995, PHMSA published a notice with request for
comments in the Federal Register (76 FR 81013). The notice regards the
renewal of an information collection titled, ``Gas Pipeline Safety
Program Certification and Hazardous Liquid Pipeline Safety Program
Certification,'' and identified under Office of Management and Budget
(OMB) control number 2137-0584. PHMSA received no comments on the
notice and is now forwarding the information collection request to OMB
for approval and providing an additional 30 days for comments.

DATES: Interested persons are invited to submit comments on or before
April 16, 2012.

ADDRESSES: Send comments regarding the burden estimate, including
suggestions for reducing the burden, directly to OMB, Office of
Information and Regulatory Affairs, Attn: Desk Officer for the U.S.
Department of Transportation (PHMSA), 725 17th Street NW., Washington,
DC 20503.

FOR FURTHER INFORMATION CONTACT: Angela Dow by telephone at 202-366-
1246, by fax at<PHONE_NUMBER>, or by mail at DOT, PHMSA, 1200 New Jersey
Avenue SE., PHP-30, Washington, DC 20590-0001.

SUPPLEMENTARY INFORMATION: Section 1320.8(d), Title 5, Code of Federal
Regulations, requires PHMSA to provide interested members of the public
and affected agencies an opportunity to comment on information
collection and recordkeeping requests. This notice identifies an
information collection request that PHMSA will be submitting to OMB for
renewal titled, ``Gas Pipeline Safety Program Certification and
Hazardous Liquid Pipeline Safety Program Certification'' (OMB control
number 2137-0584).
    PHMSA notes that the Federal Register notice published on December
27, 2011, contained a clerical error. Specifically, the notice
inadvertently

identified the burden hour estimated for the information collection at
``3,820''. As reflected in this notice, the correct burden hour
estimate for the information collection is ``3,920''.
    The following information is provided for the information
collection: (1) Title of the information collection; (2) OMB control
number; (3) Current expiration date; (4) Type of request; (5) Abstract
of the information collection activity; (6) Description of affected
public; (7) Estimate of total annual reporting and recordkeeping
burden; and (8) Frequency of collection. PHMSA will request a three-
year term of approval for the information collection activity. PHMSA
requests comments on the following information collection:
    Title: Gas Pipeline Safety Program Certification and Hazardous
Liquid Pipeline Safety Program Certification.
    OMB control number: 2137-0584.
    Current Expiration Date: 6/30/2012.
    Abstract: A state must submit an annual certification to assume
responsibility for regulating intrastate pipelines, and certain records
must be maintained to demonstrate that the state is ensuring
satisfactory compliance with the pipeline safety regulations. PHMSA
uses this information to evaluate a state's eligibility for Federal
grants.
    Affected Public: State and local governments.
    Annual Reporting and Recordkeeping Burden:
    Total Annual Responses: 67.
    Total Annual Burden Hours: 3,920.
    Frequency of Collection: Annual.
    Comments are invited on:
    (a) The need for the proposed collection of information for the
proper performance of the functions of the agency, including whether
the information will have practical utility;
    (b) The accuracy of the agency's estimate of the burden of the
proposed collection of information, including the validity of the
methodology and assumptions used;
    (c) Ways to enhance the quality, utility, and clarity of the
information to be collected; and
    (d) Ways to minimize the burden of the collection of information on
those who are to respond, including the use of appropriate automated,
electronic, mechanical, or other technological collection techniques.

    Issued in Washington, DC, on March 8, 2012.
John A. Gale,
Director, Office of Standards and Rulemaking.
[FR Doc. 2012-6206 Filed 3-14-12; 8:45 am]
BILLING CODE 4910-60-P


[Federal Register Volume 85, Number 72 (Tuesday, April 14, 2020)]
[Notices]
[Pages 20686-20687]
[FR Doc No: 2020-07833]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings

    Take notice that the Commission has received the following Natural
Gas Pipeline Rate and Refund Report filings:
    Docket Numbers: CP20-132-000.
    Applicants: Black Hills Wyoming Gas, LLC.
    Description: Application for Limited Jurisdiction Blanket
Certificate of Black Hills Wyoming Gas, LLC.
    Filed Date: 3/31/20.
    Accession Number: 20200331-5479.
    Comments Due: 5 p.m. ET 4/14/20.

    Docket Numbers: RP20-773-000.
    Applicants: Leaf River Energy Center LLC.
    Description: Sec.  4(d) Rate Filing: Leaf River Energy Center, LLC
Tariff Update to be effective 5/6/2020.
    Filed Date: 4/6/20.
    Accession Number: 20200406-5124.
    Comments Due: 5 p.m. ET 4/20/20.

    Docket Numbers: RP20-678-001.
    Applicants: Enable Gas Transmission, LLC.
    Description: Tariff Amendment: Errata to EGT Fuel Tracker Filing--
Effective May 1, 2020 to be effective 5/1/2020.
    Filed Date: 4/7/20.
    Accession Number: 20200407-5147.
    Comments Due: 5 p.m. ET 4/20/20.

    Docket Numbers: RP20-775-000.
    Applicants: Alliance Pipeline L.P.
    Description: Sec.  4(d) Rate Filing: Negotiated Rates Cleanup--
Adding K1011506 K1011507 K1011508 to be effective 11/1/2019.
    Filed Date: 4/7/20.
    Accession Number: 20200407-5073.
    Comments Due: 5 p.m. ET 4/20/20.

    Docket Numbers: RP20-776-000.
    Applicants: WBI Energy Transmission, Inc.
    Description: Compliance filing 2020 Compliance Filing for
Abandonment of Baker Gathering Assets to be effective 4/17/2020.
    Filed Date: 4/7/20.
    Accession Number: 20200407-5159.
    Comments Due: 5 p.m. ET 4/20/20.

    Docket Numbers: RP20-777-000.
    Applicants: Southern Star Central Gas Pipeline, Inc.
    Description: Compliance filing Tariff Waiver- ROFR Posting.
    Filed Date: 4/7/20.
    Accession Number: 20200407-5197.
    Comments Due: 5 p.m. ET 4/20/20.

    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified date(s). Protests may be considered,
but intervention is necessary to become a party to the proceeding.
    eFiling is encouraged. More detailed information relating to filing

requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: April 8, 2020.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2020-07833 Filed 4-13-20; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 81, Number 157 (Monday, August 15, 2016)]
[Notices]
[Pages 54166-54170]
[FR Doc No: 2016-19315]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78510; File No. SR-IEX-2016-11]

Self-Regulatory Organizations; Investors Exchange LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
Rule 11.190(g) Related to Discretionary Peg Orders

August 9, 2016.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on August 4, 2016, the Investors Exchange LLC (``IEX'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I
and II below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 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

    Pursuant to the provisions of Section 19(b)(1) under the Securities
Exchange Act of 1934 (``Act''),\4\ and Rule 19b-4 thereunder,\5\
Investors Exchange LLC (``IEX'' or ``Exchange'') is filing with the
Securities and Exchange Commission (``Commission'') a proposed rule
change to amend Rule 11.190(g) to optimize and enhance the
effectiveness of the quote instability calculation in determining
whether a crumbling quote exists, to: (i) Provide that the quote
instability calculation would not include IEX protected quotations;
(ii) reduce the time period that a crumbling quote condition remains in
effect from ten to two milliseconds; (iii) add two new quote stability
variables, together with their respective coefficients; and (iv) modify
the quote instability coefficients and quote instability threshold
included in the quote instability calculation, pursuant to subparagraph
(1)(D)(iii) thereof. The Exchange has designated this proposal as non-
controversial and provided the Commission with the notice required by
Rule 19b-4(f)(6)(iii) under the Act.\6\
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    \4\ 15 U.S.C. 78s(b)(1).
    \5\ 17 CFR 240.19b-4.
    \6\ 17 CFR 240.19b-4(f)(6)(iii).
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    The text of the proposed rule change is available at the Exchange's
Web site at www.iextrading.com, at the principal office of the
Exchange, and at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of and basis for the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of these statement [sic] 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
Statutory Basis for, the Proposed Rule Change

1. Purpose
Overview
    The purpose of the proposed rule change is to amend Rule 11.190(g)
to modify the quote instability coefficients and quote instability
threshold included in the quote instability calculation specified in
subparagraph (g)(1) for purposes of determining whether a crumbling
quote exists. When the Exchange determines that a crumbling quote
exists in a particular security for Protected Quotations from the
national best bid (``Protected NBB''), Discretionary Peg buy orders are
restricted from exercising price discretion to trade against interest
above the NBB. Similarly, when the Exchange determines that a crumbling
quote exists in a particular security for Protected Quotations from the
national best offer (``Protected NBO''), Discretionary Peg sell orders
are restricted from exercising price discretion to trade against
interest below the NBO.
Discretionary Peg Order
    The manner in which Discretionary Peg orders operate is described
in Rule 11.190(b)(10). Specifically, a Discretionary Peg order is a
non-displayed, pegged order that upon entry into the System, the price
of the order is automatically adjusted by the System to be equal to the
less aggressive of the Midpoint Price or the order's limit price, if
any. When unexecuted shares of such order are posted to the Order Book,
the price of the order is automatically adjusted by the System to be
equal to and ranked at the less aggressive of the primary quote or the
order's limit price and is automatically adjusted by the System in
response to changes in the NBB (NBO) for buy (sell) orders up (down) to
the order's limit price, if any. In order to meet the limit price of
active orders on the Order Book, a Discretionary Peg order will
exercise the least amount of price discretion necessary from the
Discretionary Peg order's resting price to its discretionary price
(defined as the less aggressive of the Midpoint Price or the
Discretionary Peg order's limit price, if any), except during periods
of quote instability (i.e., when a crumbling quote exists) as defined
in paragraph Rule 11.190(g).
    In determining whether a crumbling quote exists, the Exchange
utilizes real time relative quoting activity of Protected Quotations
and a proprietary mathematical calculation (the ``quote instability
calculation'') to assess the probability of an imminent change to the
current Protected NBB to a lower price or Protected NBO to a higher
price for a particular security (``quote instability factor''). When
the quoting activity meets predefined criteria and the quote
instability factor calculated is greater than the Exchange's defined
threshold (``quote instability threshold''), the System treats the
quote as not stable (``quote instability'' or a ``crumbling quote'').
During all other times, the quote is considered stable (``quote
stability''). The System independently assesses the stability of the
Protected NBB and Protected NBO for each security.
    When the System determines that a quote, either the Protected NBB
or the Protected NBO, is unstable, the determination remains in effect
at that price level for ten (10) milliseconds. The System will only
treat one side of the Protected NBBO as unstable in a particular
security at any given time.\7\ By not permitting resting Discretionary
Peg orders to execute at a price that is more aggressive than the near-
side protected NBB or NBO (as applicable) during periods of quote
instability, the Exchange System is intended to attempt to protect such
orders from unfavorable executions when the market is moving against
them. Once the market has moved and the Exchange System deems the near-
side Protected NBB or NBO (as applicable) to be stable (pursuant to a
pre-determined, objective set of conditions as described below),
Discretionary Peg orders are permitted to exercise discretion up to
(for buy orders) or down to (for sell orders) the midpoint of the NBBO
in order to meet the limit price of active orders on the order book and
thereby potentially provide price improvement to such active orders.
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    \7\ See, Rule 11.190(g).
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    Quote stability or instability (also referred to as a crumbling
quote) is an assessment that the Exchange System makes on a real-time
basis, based on a pre-determined, objective set of conditions specified
in Rule 11.190(g)(1). Specifically, quote instability, or the presence
of a crumbling quote, is determined by the System when the following
factors occur:
    (A) The Protected NBB and Protected NBO are the same as the
Protected NBB and Protected NBO one (1) millisecond ago; and
    (B) the Protected NBBO spread is less than or equal to the thirty
(30) day median Protected NBBO spread during the Regular Market
Session; and
    (C) there are more Protected Quotations on the far side, i.e., more
Protected Quotations on the Protected NBO than the Protected NBB for
buy orders, or more Protected Quotations on the Protected NBB than the
Protected NBO for sell orders; and
    (D) the quote instability factor result from the quote stability
calculation is greater than the defined quote instability threshold.

    (i) Quote Instability Factor. The Exchange's proprietary quote
stability calculation used to determine the current quote instability
factor is defined by the following formula that utilizes the quote
stability coefficients and quote stability variables defined below:

    1/ (1 + e [caret] -(C0 + C1 * N +
C2 * F + C3 * N-1 + C4 *
F-1))

    (a) Quote Stability Coefficients. The Exchange utilizes the values
below for the quote stability coefficients.
    (1) C0 = -2.39515
    (2) C1 = -0.76504
    (3) C2 = 0.07599
    (4) C3 = 0.38374
    (5) C4 = 0.14466
    (b) Quote Stability Variables. The Exchange utilizes the quote
stability variables defined below to calculate the current quote
instability factor.
    1. N = the number of Protected Quotations on the near side of the
market, i.e., Protected NBB for buy orders and Protected NBO for sell
orders.
    2. F = the number of Protected Quotations on the far side of the
market, i.e., Protected NBO for buy orders and Protected NBB for sell
orders.
    3. N-1 = the number of Protected Quotations on the near
side of the market one (1) millisecond ago.
    4. F-1 = the number of Protected Quotations on the far
side of the market one (1) millisecond ago.
    (ii) Quote Instability Threshold. The Exchange utilizes a quote
instability threshold of 0.32.
    Rule 11.190(g)(1)(D)(iii) provides that the Exchange reserves the
right to modify the quote instability coefficients or quote instability
threshold at any time, subject to a filing of a proposed rule change
with the SEC. The Exchange is proposing such changes in this rule
filing.
Changes to Quote Instability Coefficients and Quote Instability
Threshold
    The alternative trading system (``ATS'') operated by the Exchange's
affiliate, IEX Services LLC (``IEX ATS'') offers a Discretionary Peg
order type that is identical to the Exchange's Discretionary Peg order
type, including the factors for determining when a crumbling quote (or
quote instability) is present. IEX conducted an analysis of the
effectiveness of the existing factors in predicting whether a crumbling
quote would occur, by reviewing randomly selected market data from
March through June 2016. The results of the analysis were verified by
reviewing randomly selected market data from July 2016. Based on this
analysis, the Exchange has determined that further optimization of the
existing factors would incrementally increase the accuracy of the
formula in predicting whether a crumbling quote will occur. The
following describes the proposed changes:
    1. Rule 11.190(g) states that the Exchange utilizes real time
relative quoting activity of Protected Quotations in the quote
instability calculation. As proposed, the quote instability calculation
would not include IEX protected quotations. The quote instability
calculation has been optimized, subject to further proposed
enhancements, based on actual market data from trading on the IEX ATS
prior to the launch of the Exchange with a protected quotation.
Accordingly, IEX does not have data that includes IEX protected
quotations to consider in optimization of the quote instability
calculation at this time.\8\
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    \8\ IEX may consider further enhancements that include IEX's
protected quotation, subject to IEX submitting a proposed rule
change under Section 19(b) of the Act.
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    2. The Exchange also proposes to reduce the time period that a
crumbling quote condition remains in effect from ten to two
milliseconds. Based on the market data analysis, IEX found that
generally in the instances in which the formula correctly predicted a
crumbling quote, the crumbling quote occurred within two milliseconds.
By reducing the time period that the crumbling quote condition remains
on, IEX believes that it will ameliorate the potential impact of any
false positives, because the condition will remain on for a shorter
period of time.
    3. The Exchange proposes to add two new quote stability variables,
``E'' and ``D'', and their coefficients to the quote instability factor
calculation specified in subparagraph (g)(1)(D)(i) of Rule 11.190.
Quote stability variable E is a Boolean indicator that equals 1 if and
only if the last two received quotation updates received by IEX have
been quotations of protected markets moving away from the near side of
the market on the same side of the market (i.e., bids moving lower or
offers moving higher). Based on the market data analysis, the Exchange
believes that inclusion of quote stability variable E will help to make
the quote instability calculation more accurate in predicting a
crumbling quote. Quote stability variable D is a measure of whether the
quotation updates received by IEX from the Nasdaq Stock Market, EDGX
Exchange or BATS BZX Exchange have been quotations moving away from the
near side of the market on the same side of the market (i.e., bids
moving lower or offers moving higher) in the last one (1) millisecond.
The value will be either 0, 1, 2 or 3 depending on how many of such
exchanges (if any) meet the quote stability variable D measure. Based
on the market data analysis, the Exchange believes that when these
three exchanges move away from the near side of the market on the same
side of the market, it is more likely that the quote will crumble, and
that inclusion of quote stability variable D will help to make the
quote instability calculation more accurate in predicting a crumbling
quote.
    4. The Quote Stability Coefficients specified in subparagraph
(1)(D)(i) of Rule 11.190(g) are proposed to be modified to take into
account the recent market data analysis, as well as to add new quote
stability variables E and D. The Exchange believes that the
modifications, as proposed, will increase the accuracy of the quote
instability calculation.
    5. The Exchange proposes to modify and re-optimize the Quote
Instability Threshold specified in subparagraph (1)(D)(ii) of Rule
11.190(g) based on the recent market data analysis and the two new
quote stability variables. The Exchange believes that the
modifications, as proposed, will increase the accuracy of the quote
instability calculation.
2. Statutory Basis
    IEX believes that the proposed rule change is consistent with
Section 6(b) \9\ of the Act in general, and furthers the objectives of
Section 6(b)(5) of the Act,\10\ in particular, 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 mechanism of a
free and open market and a national market system and, in general, to
protect investors and the public interest. Specifically, and as
discussed above, the proposal is designed to optimize and enhance the
effectiveness of the quote instability calculation in determining
whether a crumbling quote exists. The Exchange believes that the
proposed changes are designed to protect investors and the public
interest by enhancing the accuracy of the Exchange's quote instability
calculation in determining whether a crumbling quote exists thereby
preventing Discretionary Peg

orders from trading at prices more aggressive than the near side of the
market (NBB for buy orders, NBO for sell orders) to protect such orders
from unfavorable executions when the market appears to be moving
against them. The Exchange believes that not including IEX protected
quotations in the quote instability calculation is consistent with the
protection of investors and the public interest because the calculation
is optimized based on actual market data, and IEX does not yet have
actual market data that includes IEX protected quotations to consider
in optimization of the quote instability calculation at this time. The
Exchange also believes that it is consistent with the protection of
investors and the public interest to reduce the time period that a
crumbling quote condition remains in effect from ten to two
milliseconds to ameliorate the potential impact of any false positives.
Further, IEX believes that adding the two new quote stability
variables, as well as the proposed additions to and modification of the
quote instability coefficients and quote instability threshold, as
contemplated by 11.190(g)(1)(D)(iii), is consistent with the public
interest and the protection of investors because these changes are
designed to increase the accuracy of the calculation.
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    \9\ 15 U.S.C. 78f.
    \10\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    As proposed, the new quote instability calculation will continue to
be a fixed formula specified transparently in IEX's rules. The Exchange
is not proposing to add any new functionality, but merely to revise the
fixed formula based on market data analysis designed to increase the
accuracy of the formula in predicting a crumbling quote, and as
contemplated by the rule.

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

    IEX does not believe that the proposed rule change will result in
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act. The proposed change will apply
equally to all IEX Members. The Commission has already considered the
Exchange's Discretionary Peg order type in connection with its grant of
IEX's application for registration as a national securities exchange
under Sections 6 and 19 of the Act.\11\ The proposed rule change is
designed to merely enhance the accuracy of the quote instability
calculation specified in Rule 11.190(g) and ameliorate the impact of
any false positives; therefore, no new burdens are being proposed.
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    \11\ See Securities Exchange Act Release No. 34-78101 (June 17,
2016), 81 FR 41142 (June 23, 2016) (File No. 10-222).
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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 Exchange has designated this rule filing as non-controversial
under Section 19(b)(3)(A) \12\ of the Act and Rule 19b-4(f)(6) \13\
thereunder. Because the proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate if consistent with
the protection of investors and the public interest, it has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6) thereunder.\14\
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    \12\ 15 U.S.C. 78s(b)(3)(A).
    \13\ 17 CFR 240.19b-4(f)(6).
    \14\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \15\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\16\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay, and stated that the
proposed rule change will merely revise the fixed formula specified in
Rule 11.190(g) for predicting a crumbling quote, as contemplated by the
rule. The Exchange noted that the proposed rule change is designed to
enhance the accuracy of the quote instability calculation and protect
Members that enter Discretionary Peg orders from unfavorable executions
when the market is moving against such orders. Further, the Exchange
stated that waiver of the operative delay will allow the Exchange to
implement the proposed rule change to coincide with IEX's launch of
exchange operations during a security-by-security phase-in period
beginning on August 19, 2016, thus enabling the Exchange to provide the
contemplated protections to Members entering Discretionary Peg orders
from exchange launch. The Commission notes that the changes proposed by
IEX are intended to optimize the quote instability equation contained
in the discretionary peg order type rule, and are not intended to
materially change the operation of the rule or introduce new
functionality. Rather, the Exchange intends the proposed changes to
increase the ability of the discretionary peg order type to meet its
stated objectives as reflected in the Exchange's rule. Accordingly, the
Commission believes that waiver of the operative delay is consistent
with the protection of investors and the public interest. Therefore,
the Commission hereby waives the operative delay and designates the
proposed rule change operative upon filing.\17\
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    \15\ 17 CFR 240.19b-4(f)(6).
    \16\ 17 CFR 240.19b-4(f)(6)(iii).
    \17\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \18\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \18\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

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-IEX-2016-11 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-IEX-2016-11. This file

number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-IEX-2016-11 and should be
submitted on or before September 6, 2016.
---------------------------------------------------------------------------

    \19\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\19\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-19315 Filed 8-12-16; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 77, Number 74 (Tuesday, April 17, 2012)]
[Proposed Rules]
[Pages 22686-22689]
[FR Doc No: 2012-9177]

=======================================================================
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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2012-0336; Directorate Identifier 2011-NM-213-AD]
RIN 2120-AA64

Airworthiness Directives; The Boeing Company Airplanes

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: We propose to adopt a new airworthiness directive (AD) for
certain The Boeing Company Model 737-500 series airplanes. This
proposed AD was prompted by reports of chem-mill step cracking on the
aft lower lobe fuselage skins. This proposed AD would require
inspections of the fuselage skin at the chem-mill steps, and repair if
necessary. We are proposing this AD to detect and correct cracking on
the aft lower lobe fuselage skins, which could result in decompression
of the airplane.

DATES: We must receive comments on this proposed AD by June 1, 2012.

ADDRESSES: You may send comments, using the procedures found in 14 CFR
11.43 and 11.45, by any of the following methods:
     Federal eRulemaking Portal: Go to http://www.regulations.gov. Follow the instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue SE., Washington, DC 20590.
     Hand Delivery: Deliver to Mail address above between 9
a.m. and 5 p.m., Monday through Friday, except Federal holidays.
    For service information identified in this proposed AD, contact
Boeing Commercial Airplanes, Attention: Data & Services Management,
P.O. Box 3707, MC 2H-65, Seattle, Washington 98124-2207; telephone 206-
544-5000, extension 1; fax<PHONE_NUMBER>; email<EMAIL_ADDRESS>
Internet https://www.myboeingfleet.com. You may review copies of the
referenced service information at the FAA, Transport Airplane
Directorate, 1601 Lind Avenue SW., Renton, Washington.

For information on the availability of this material at the FAA, call
425-227-1221.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://www.regulations.gov; or in person at the Docket Management Facility
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. The AD docket contains this proposed AD, the regulatory
evaluation, any comments received, and other information. The street
address for the Docket Office (phone:<PHONE_NUMBER>) is in the ADDRESSES
section. Comments will be available in the AD docket shortly after
receipt.

FOR FURTHER INFORMATION CONTACT: Wayne Lockett, Aerospace Engineer,
Airframe Branch, ANM-120S, FAA, Seattle Aircraft Certification Office
(ACO), 1601 Lind Avenue SW., Renton, Washington 98057-3356; phone: 425-
917-6447; fax:<PHONE_NUMBER>; email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Comments Invited

    We invite you to send any written relevant data, views, or
arguments about this proposal. Send your comments to an address listed
under the ADDRESSES section. Include ``Docket No. FAA-2012-0336;
Directorate Identifier 2011-NM-213-AD'' at the beginning of your
comments. We specifically invite comments on the overall regulatory,
economic, environmental, and energy aspects of this proposed AD. We
will consider all comments received by the closing date and may amend
this proposed AD because of those comments.
    We will post all comments we receive, without change, to http://www.regulations.gov, including any personal information you provide. We
will also post a report summarizing each substantive verbal contact we
receive about this proposed AD.

Discussion

    More than 300 incidents of skin chem-mill cracks on 26 airplanes
have been reported from body station (STA) 727 to 1016, and from
stringer S-14 to S-25 (left and right sides). The affected airplanes
had accumulated between 29,808 and 53,454 total flight cycles. Most of
the skin cracks were found aft of STA 747 on the left side. Several of
the reported cracks occurred in multiple adjacent bays. On the existing
skin panel assembly, the doubler is chem-milled to the skin. At these
skin panel locations on the airplanes, the loads could cause a
condition where skin cracks could form along the longitudinal edges of
the doubler. This condition, if not corrected, could result in
decompression of the airplane.

Relevant Service Information

    We reviewed Boeing Special Attention Service Bulletin 737-53-1315,
dated July 29, 2011. For information on the procedures and compliance
times, see this service information at http://www.regulations.gov by
searching for Docket No. FAA-2012-0336. ``Related investigative
actions'' and ``corrective actions'' are those actions specified in the
service information that are necessary to address the identified unsafe
condition.

FAA's Determination

    We are proposing this AD because we evaluated all the relevant
information and determined the unsafe condition described previously is
likely to exist or develop in other products of the same type design.

Proposed AD Requirements

    This proposed AD would require various repetitive inspections for
cracking in the fuselage skin at the chem-mill steps. For airplanes on
which cracking is found, this proposed AD would require doing one of
the following:
     A time-limited repair, followed by related investigative
actions (including a general visual inspection for loose or missing
fasteners; an internal detailed inspection and a high frequency eddy
current (HFEC) inspection for disbonding and cracks of the bonded
doubler); corrective actions if necessary (i.e., replacing any loose or
missing fastener, and contacting Boeing for repair instructions and
doing the repair); and making the time-limited repair permanent; or
     A permanent repair, including a detailed inspection of the
bonded doubler for disbonding, and an HFEC inspection for cracks in the
bonded doubler; and repair of any cracks and disbonding. Accomplishment
of the permanent repair would terminate the repetitive inspections
required by this proposed AD for the area(s) of the repair only.

Difference Between the Proposed AD and the Service Information

    Boeing Special Attention Service Bulletin 737-53-1315, dated July
29, 2011, specifies to contact the manufacturer for instructions on how
to repair certain conditions, but this proposed AD would require
repairing those conditions in one of the following ways:
     In accordance with a method that we approve; or
     Using data that meet the certification basis of the
airplane, and that have been approved by the Boeing Commercial
Airplanes Organization Designation Authorization (ODA) whom we have
authorized to make those findings.

Costs of Compliance

    We estimate that this proposed AD affects 91 airplanes of U.S.
registry. We estimate the following costs to comply with this proposed
AD:

                                                 Estimated Costs
----------------------------------------------------------------------------------------------------------------
                                                               Parts                             Cost on U.S.
              Action                      Labor cost            cost     Cost per  product        operators
----------------------------------------------------------------------------------------------------------------
Inspections......................  23 work-hours x $85 per          $0  $1,955 per           $177,905 per
                                    hour = $1,955 per                    inspection cycle.    inspection cycle.
                                    inspection cycle.
----------------------------------------------------------------------------------------------------------------

    We estimate the following costs to do any necessary corrective
actions that would be required based on the results of the proposed
inspection. We have no way of determining the number of aircraft that
might need these corrective actions:

                                               On-Condition Costs
----------------------------------------------------------------------------------------------------------------
                  Action                               Labor cost                Parts cost     Cost per product
----------------------------------------------------------------------------------------------------------------
Inspection...............................  2 work-hours x $85 per hour =                    $0              $170
                                            $170.
Repair...................................  7 work-hours x $85 per hour =                    $0              $595
                                            $595.
----------------------------------------------------------------------------------------------------------------

Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, section 106, describes the
authority of the FAA Administrator. Subtitle VII: Aviation Programs,
describes in more detail the scope of the Agency's authority.
    We are issuing this rulemaking under the authority described in
subtitle VII, part A, subpart III, section 44701: ``General
requirements.'' Under that section, Congress charges the FAA with
promoting safe flight of civil aircraft in air commerce by prescribing
regulations for practices, methods, and procedures the Administrator
finds necessary for safety in air commerce. This regulation is within
the scope of that authority because it addresses an unsafe condition
that is likely to exist or develop on products identified in this
rulemaking action.

Regulatory Findings

    We determined that this proposed AD would not have federalism
implications under Executive Order 13132. This proposed AD would not
have a substantial direct effect on the States, on the relationship
between the national Government and the States, or on the distribution
of power and responsibilities among the various levels of government.
    For the reasons discussed above, I certify this proposed
regulation:
    (1) Is not a ``significant regulatory action'' under Executive
Order 12866,
    (2) Is not a ``significant rule'' under the DOT Regulatory Policies
and Procedures (44 FR 11034, February 26, 1979),
    (3) Will not affect intrastate aviation in Alaska, and
    (4) Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Incorporation by
reference, Safety.

The Proposed Amendment

    Accordingly, under the authority delegated to me by the
Administrator, the FAA proposes to amend 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

    1. The authority citation for part 39 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40113, 44701.

Sec.  39.13  [Amended]

    2. The FAA amends Sec.  39.13 by adding the following new
airworthiness directive (AD):

The Boeing Company: Docket No. FAA-2012-0336; Directorate Identifier
2011-NM-213-AD.

(a) Comments Due Date

    We must receive comments by June 1, 2012.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to The Boeing Company Model 737-500 series
airplanes, certificated in any category, as identified in Boeing
Special Attention Service Bulletin 737-53-1315, dated July 29, 2011.

(d) Subject

    Joint Aircraft System Component (JASC)/Air Transport Association
(ATA) of America Code 53, Fuselage.

(e) Unsafe Condition

    This AD was prompted by reports of chem-mill step cracking on
the aft lower lobe fuselage skins. We are issuing this AD to detect
and correct step cracking on the aft lower lobe fuselage skins,
which could result in decompression of the airplane.

(f) Compliance

    Comply with this AD within the compliance times specified,
unless already done.

(g) Inspection

    At the applicable time specified in paragraph 1.E.,
``Compliance,'' of Boeing Special Attention Service Bulletin 737-53-
1315, dated July 29, 2011, except as required by paragraph (i)(1) of
this AD: Do an external detailed inspection; and, as applicable, do
an external or internal subsurface eddy current, magneto optic
imager, or C-scan inspection; to detect cracks in the fuselage skin
at the chem-mill steps; in accordance with the Accomplishment
Instructions of Boeing Special Attention Service Bulletin 737-53-
1315, dated July 29, 2011. Repeat the inspections thereafter at the
applicable times specified in paragraph 1.E., ``Compliance,'' of
Boeing Special Attention Service Bulletin 737-53-1315, dated July
29, 2011.

(h) Repair

    If any crack is found during any inspection required by
paragraph (g) of this AD: At the applicable times specified in
paragraph 1.E., ``Compliance,'' of Boeing Special Attention Service
Bulletin 737-53-1315, dated July 29, 2011, do all the actions
specified in either paragraph (h)(1) or (h)(2) of this AD.
    (1) Do a time-limited repair; followed by applicable related
investigative actions, corrective actions, and making the time-
limited repair permanent; in accordance with Boeing Special
Attention Service Bulletin 737-53-1315, dated July 29, 2011, except
as required by paragraph (i)(2) of this AD.
    (2) Do a permanent repair, including a detailed inspection of
the bonded doubler for disbonding and a high frequency eddy current
inspection for cracks of the bonded doubler, in accordance with
Boeing Special Attention Service Bulletin 737-53-1315, dated July
29, 2011. Repair any cracks and disbonding before further flight, in
accordance with Boeing Special Attention Service Bulletin 737-53-
1315, dated July 29, 2011, except as required by paragraph (i)(2) of
this AD. Accomplishment of the permanent repair terminates the
repetitive inspections required by this AD for the area(s) of the
repair only.

(i) Exceptions to Service Bulletin Specifications

    The exceptions specified in paragraphs (i)(1) and (i)(2) of this
AD apply to this AD.
    (1) Where Boeing Special Attention Service Bulletin 737-53-1315,
dated July 29, 2011, specifies a compliance time after the date on
this service bulletin, this AD requires compliance within the
specified compliance time after the effective date of this AD.
    (2) Where Boeing Special Attention Service Bulletin 737-53-1315,
dated July 29, 2011, specifies to contact Boeing for repair
instructions: Before further flight, repair using a method approved
in accordance with the procedures specified in paragraph (j) of this
AD.

(j) Alternative Methods of Compliance (AMOCs)

    (1) The Manager, Seattle Aircraft Certification Office (ACO),
FAA, has the authority to approve AMOCs for this AD, if requested
using the procedures found in 14 CFR 39.19. In accordance with 14
CFR 39.19, send your request to your principal inspector or local
Flight Standards District Office, as appropriate. If sending
information directly to the manager of the ACO, it may be emailed to
<EMAIL_ADDRESS>    (2) Before using any approved AMOC, notify your appropriate
principal inspector, or lacking a principal inspector, the manager

of the local flight standards district office/certificate holding
district office.
    (3) An AMOC that provides an acceptable level of safety may be
used for any repair required by this AD if it is approved by the
Boeing Commercial Airplanes Organization Designation Authorization
(ODA) that has been authorized by the Manager, Seattle ACO, to make
those findings. For a repair method to be approved, the repair must
meet the certification basis of the airplane, and the approval must
specifically refer to this AD.

(k) Related Information

    (1) For more information about this AD, contact Wayne Lockett,
Aerospace Engineer, Airframe Branch, ANM-120S, FAA, Seattle Aircraft
Certification Office (ACO), 1601 Lind Avenue SW., Renton, Washington
98057-3356; phone:<PHONE_NUMBER>; fax:<PHONE_NUMBER>; email:
<EMAIL_ADDRESS>    (2) For service information identified in this AD, contact
Boeing Commercial Airplanes, Attention: Data & Services Management,
P.O. Box 3707, MC 2H-65, Seattle, Washington 98124-2207; telephone
206-544-5000, extension 1; fax<PHONE_NUMBER>; email
<EMAIL_ADDRESS>Internet https://www.myboeingfleet.com. You
may also review the referenced service information in the docket at
www.regulations.gov (refer to Docket No. FAA-2012-0336). You may
review copies of the referenced service information at the FAA,
Transport Airplane Directorate, 1601 Lind Avenue SW., Renton,
Washington 98057-3356. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>.

    Issued in Renton, Washington, on April 5, 2012.
Ali Bahrami,
Manager, Transport Airplane Directorate, Aircraft Certification
Service.
[FR Doc. 2012-9177 Filed 4-16-12; 8:45 am]
BILLING CODE 4910-13-P