[Federal Register Volume 82, Number 246 (Tuesday, December 26, 2017)]
[Notices]
[Pages 61090-61094]
[FR Doc No: 2017-27699]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82362; File No. SR-ISE-2017-106]

Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing
of Proposed Rule Change To Permit the Listing and Trading of NQX Index
Options

December 19, 2017.
    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 December 6, 2017, Nasdaq ISE, LLC (``ISE'' or ``Exchange'')
filed with the Securities and Exchange Commission (``SEC'' or
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to permit the listing and trading of options
based on \1/5\ the value of the Nasdaq-100 Index (``Nasdaq-100'') on a
twelve month pilot basis.
    The text of the proposed rule change is available on the Exchange's
website at http://ise.cchwallstreet.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 Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set

forth in sections A, B, and C below, of the most significant aspects of
such statements.

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

1. Purpose
    The purpose of the proposed rule change is to amend the Exchange's
rules to permit the listing and trading of index options on the Nasdaq
100 Reduced Value Index (``NQX'') on a twelve month pilot basis. The
NQX options contract will be the same in all respects as the current
Nasdaq-100 (``NDX'') options contract listed on the Exchange,\3\ except
that it will be based on \1/5\ of the value of the Nasdaq-100, and will
be P.M.-settled with an exercise settlement value based on the closing
index value of the Nasdaq-100 on the day of expiration.\4\ The Exchange
believes that the proposed contract will be valuable for retail and
other investors that wish to trade reduce value options on the Nasdaq-
100, or who wish to hedge positions in the related E-mini Nasdaq 100
(``NQ'') futures contract, which is also based on \1/5\ the value of
the Nasdaq-100.
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    \3\ See Securities Exchange Act Release No. 51121 (February 1,
2005), 70 FR 6476 (February 7, 2005) (SR-ISE-2005-01) (Approval
Order).
    \4\ In addition to the current Nasdaq-100 index value, Nasdaq
will disseminate an index value for NQX that is \1/5\ of the value
of the Nasdaq-100.
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I. Nasdaq-100 Index
    The Nasdaq-100 is a modified market capitalization-weighted index
that includes 100 of the largest non-financial companies listed on The
Nasdaq Stock Market (``Nasdaq''),\5\ based on market capitalization.\6\
It does not contain securities of financial companies, including
investment companies. Security types generally eligible for the Nasdaq-
100 include common stocks, ordinary shares, American Depository
Receipts, and tracking stocks. Security or company types not included
in the Nasdaq-100 are closed-end funds, convertible debentures,
exchange traded funds, limited liability companies, limited partnership
interests, preferred stocks, rights, shares or units of beneficial
interest, warrants, units and other derivative securities.\7\
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    \5\ Nasdaq is an affiliate of the Exchange.
    \6\ The Nasdaq-100 is a broad-based index, as defined in Rule
2001(k).
    \7\ A description of the Nasdaq-100 is available on Nasdaq's
website at https://indexes.nasdaqomx.com/docs/methodology_NDX.pdf.
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II. NQX Options Contract
    Currently, the Exchange lists and trades NDX options that are based
on the full value of the Nasdaq-100. In an effort to attract additional
interest in index options based on the Nasdaq-100, the Exchange now
proposes to list and trade a new reduced value option contract based on
this index on a twelve month pilot basis. NQX options will trade
independently of and in addition to NDX options, and the NQX options
will be subject to the same rules that presently govern the trading of
index options based on the Nasdaq-100, including sales practice rules,
margin requirements, trading rules, and position and exercise limits.
Similar to NDX, NQX options will be European-style and cash-settled,
and will have a contract multiplier of 100. The contract specifications
for NQX options will mirror in all respects those of the NDX options
contract already listed on the Exchange, except that the Exchange
proposes that NQX options will be based on \1/5\ of the value of the
Nasdaq-100, and will be P.M.-settled pursuant to proposed Rule
2009(a)(6). Similar features are available with other index options
contracts listed and/or approved for trading on the Exchange and other
options exchanges, including the Exchange's affiliate, Nasdaq Phlx
(``Phlx''). Specifically, options contracts based on 1/10 the value of
the Nasdaq-100, i.e., ``MNX'' options, are listed on the Exchange with
limited strikes, and are also currently listed on Phlx and the Chicago
Board Options Exchange (``CBOE''). In addition, Phlx recently received
approval to trade P.M.-settled options on the full value of the Nasdaq-
100 (``NDXPM'').\8\
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    \8\ See Securities Exchange Act Release No. 81293 (August 2,
2017), 82 FR 37138 (August 8, 2017) (SR-Phlx-2017-04) (Approval
Order).
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    The value of the Nasdaq-100 has increased significantly in recent
years such that the value of the index stood at 6,242.47, as of the
opening of trading on December 5, 2017. As a result of the increase in
the value of the underlying Nasdaq-100 index, the premium for NDX
options has also increased. The Exchange believes that this has caused
NDX options to trade at a level that may be uncomfortably high for
certain retail and other investors. The Exchange believes that listing
options on reduced values will attract a greater source of retail
customer business. The Exchange further believes that listing options
on reduced values will provide an opportunity for investors to trade
and hedge the market risk associated with the Nasdaq-100.
    With an exercise settlement value based on \1/5\ of the Nasdaq-100,
the Exchange believes that retail and other investors would be able to
use this trading vehicle while extending a smaller outlay of capital.
Furthermore, the proposed reduced value index will have a notional
value at a level that is comparable to similar products that have been
successful in the market, including the S&P 500, which had an index
value of 2,639.78 as of the opening of trading on December 5, 2017, and
the Russell 2000, which had an index value of 1,532.72 as of the
opening of trading on that date. Finally, options based on \1/5\ of the
value of the Nasdaq-100 will be a particularly useful hedge, as NQ
futures are similarly based on the value of \1/5\ of the value of the
Nasdaq-100. The Exchange therefore believes that basing the proposed
NQX options contract on \1/5\ of the value of the Nasdaq-100 should
attract additional investors, and, in turn, create a more active and
liquid trading environment.
    NQX options will also be P.M.-settled as the Exchange believes that
market participants, and in particular, retail investors, who are the
target audience for this product, prefer P.M.-settled index options.
P.M.-settlement is preferred by retail investors as it allows market
participants to hedge their exposure for the full week. A.M.-settled
options by contrast are based on opening prices on the day of
expiration and therefore stop trading on the day prior, leaving
residual risk on the day of expiration. Feedback from members that
handle retail order flow has indicated that P.M.-settlement is needed
to garner retail investor support for this product. In this regard, the
Exchange notes that there is ample precedent for P.M.-settlement of
broad-based index options. As described above, the Exchange's
affiliate, Phlx, recently received approval to list NDXPM options. In
addition, CBOE offers P.M.-settled index options based on both the
Standard & Poor's 500 index (``SPXW''),\9\ and the Standard & Poor's
100 index (``OEX'').\10\
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    \9\ See Securities Exchange Act Release No. 80060 (February 17,
2017), 82 FR 11673 (February 24, 2017) (SR-CBOE-2016-091) (Approval
Order).
    \10\ OEX has been P.M. settled since 1983.
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    The Exchange does not believe that the introduction of a new P.M.-
settled Nasdaq-100 contract will cause any market disruptions. Similar
to other P.M.-settled index option products, the Exchange is proposing
to list and trade NQX options contracts pursuant to a pilot, and will
provide data to the Commission during the pilot period as described in
Section VI below. The

Exchange will monitor for any disruptions caused by P.M.-settlement of
the proposed NQX options contract or the development of any factors
that could cause such disruptions. P.M.-settled options predominate in
the over-the-counter (``OTC'') market, and the Exchange is not aware of
any adverse effects in the OTC market attributable to the P.M.-
settlement feature. The Exchange is merely proposing to offer a P.M.-
settled product in an exchange environment, which offers the additional
benefits of added transparency, price discovery, and stability.
III. Trading Hours, Minimum Increments, Expirations and Strike Prices
    NQX options will be available for trading during the Exchange's
standard trading hours for index options, i.e., from 9:30 a.m. to 4:15
p.m. New York time,\11\ with a minimum trading increment of $0.05 for
options trading below $3.00 and $0.10 for all other series.\12\ NQX
options will have monthly expiration dates on the third Friday of each
month (i.e., Expiration Friday), and the Exchange proposes to list NQX
options in expiration months consistent with those of other index
option products available on the Exchange.\13\ In addition, the
Exchange may list long-term index options series (``LEAPS'') that
expire from twelve (12) to sixty (60) months from the date of
issuance.\14\ NQX options would also be eligible to be added to the
Short Term Option Series Program (``Weeklies'') and/or Quarterly
Options Series Program (``Quarterlies'') if designated by the Exchange
pursuant to Supplementary Material .01 or .02 to Rule 2009,
respectively.\15\
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    \11\ See Rule 2008(a).
    \12\ See Rule 710(a).
    \13\ See Rule 2009(a)(3). Rule 2009(a)(3) currently provides
that the Exchange may list up to six expiration months in index
option contracts at any one time that may expire at three-month
intervals or in consecutive months. The Exchange intends to file
separately to modify the expiration months permitted for index
option contracts consistent with Phlx Rule 1101A(b).
    \14\ See Rule 2009(b).
    \15\ The Exchange expects that it will add NQX options to the
Weeklies program.
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    Generally, pursuant to Rule 2009(c)(1), index options listed on the
Exchange are subject to strike price intervals of no less than $5,
provided that certain classes of index options (including NDX and MNX)
have strike price intervals of no less than $2.50 if the strike price
is less than $200. The Exchange proposes to amend Rule 2009(c)(1) to
add NQX options to the list of classes where strike price intervals of
no less than $2.50 are generally permitted if the strike price is less
than $200. In addition, Rule 2009(c)(5) provides finer strike price
intervals for MNX options as these contracts are based on a reduced
value of the Nasdaq-100. Specifically, Rule 2009(c)(5) provides that
notwithstanding Rule 2009(c)(1) discussed above, the interval between
strike prices of series of MNX options will be $1 or greater, subject
to certain conditions. The Exchange proposes to adopt the same strike
price intervals for NQX options as currently approved for MNX options.
Thus, notwithstanding Rule 2009(c)(1), the interval between strike
prices of series of NQX options will be $1 or greater, subject to the
conditions described in Rule 2009(c)(5), which currently apply to the
listing of strikes in reduced value MNX contracts. The Exchange will
not list LEAPS on NQX options at intervals less than $5. If the
Exchange determines to add NQX options to the Weeklies or Quarterlies
programs such options will be listed with expirations and strike prices
described in Supplementary Material .01 or .02 to Rule 2009.
IV. Position and Exercise Limits; Margin
    As with NDX, in determining compliance with Rule 2004--i.e.,
Position Limits for Broad-Based Index Options--there will be no
position limits for broad-based index option contracts in the NQX
class. Although there will be no position limits for NQX options, the
Exchange proposes to amend Rule 2004(c) to correctly describe how
positions in reduced-value options would be aggregated with full-value
options. Rule 2004(c) provides that positions in reduced-value index
options shall be aggregated with positions in full-value indices. In
addition, the rule currently states that for such purposes, ten
reduced-value contracts shall equal one contract, as this was
consistent with other reduced-value contracts offered on the Exchange--
i.e., MNX, which is based on \1/10\ of the value of the Nasdaq-100.
Since the Exchange is proposing to list a reduced-value NQX contract
that is based on \1/5\ of the value of the Nasdaq-100, the Exchange
proposes to amend this language to state instead that reduced-value
contracts will be counted consistent with their value (e.g., 5 NQX
reduced-value contracts equal 1 NDX full-value contract). With this
change, the rule will more accurately reflect how the Exchange would
aggregate reduced-value and full-value positions for NQX. In addition,
as with NDX, there would be no exercise limits for NQX.\16\ Finally,
the Exchange proposes to apply broad-based index margin requirements
for the purchase and sale of NQX options that are the same as margin
requirements currently in place for NDX options.
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    \16\ See Rule 2007(a), which provides that exercise limits for
index options products are equivalent to the position limits in
place for those products.
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V. Surveillance and Capacity
    The Exchange represents that it has sufficient capacity to handle
additional quotations and message traffic associated with the proposed
listing and trading of NQX options. In addition, index options are
integrated into the Exchange's existing surveillance system
architecture and are thus subject to the relevant surveillance
processes. The Exchange represents that it has adequate surveillance
procedures to monitor trading in NQX options thereby aiding in the
maintenance of a fair and orderly market.
VI. Pilot Program Reports
    The Exchange proposes to list and trade NQX options on a pilot
basis for period of twelve months (``Pilot Program''). If the Exchange
were to propose an extension of the program or should the Exchange
propose to make the program permanent, then the Exchange would submit a
filing proposing such amendments to the program. The Exchange notes
that any positions established under the pilot would not be impacted by
the expiration of the pilot. For example, a position in an NQX options
series that expires beyond the conclusion of the pilot period could be
established during the pilot. If the Pilot Program were not extended,
then the position could continue to exist. However, the Exchange notes
that any further trading in the series would be restricted to
transactions where at least one side of the trade is a closing
transaction.
    The Exchange proposes to submit a Pilot Program report to the
Commission at least two months prior to the expiration date of the
Pilot Program (the ``annual report''). The annual report would contain
an analysis of volume, open interest, and trading patterns. The
analysis would examine trading in the proposed option product as well
as trading in the securities that comprise the Nasdaq-100. In addition,
for series that exceed certain minimum open interest parameters, the
annual report would provide analysis of index price volatility and
share trading activity. In addition to the annual report, the Exchange
would provide the Commission with periodic interim

reports while the pilot is in effect that would contain some, but not
all, of the information contained in the annual report. The annual
report would be provided to the Commission on a confidential basis. The
annual report would contain the following volume and open interest
data:\17\
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    \17\ Based on the data elements to be provided to the Commission
for the NDXPM pilot. See supra note 7.
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    (1) Monthly volume aggregated for all trades;
    (2) monthly volume aggregated by expiration date;
    (3) monthly volume for each individual series;
    (4) month-end open interest aggregated for all series;
    (5) month-end open interest for all series aggregated by expiration
date; and
    (6) month-end open interest for each individual series.
    In addition to the annual report, the Exchange would provide the
Commission with interim reports of the information listed in Items (1)
through (6) above periodically as required by the Commission while the
pilot is in effect. These interim reports would also be provided on a
confidential basis.
    Finally, the annual report would contain the following analysis of
trading patterns in Expiration Friday, P.M.-settled NQX option series
in the pilot: (1) A time series analysis of open interest; and (2) an
analysis of the distribution of trade sizes. Also, for series that
exceed certain minimum parameters, the annual report would contain the
following analysis related to index price changes and underlying share
trading volume at the close on Expiration Fridays: A comparison of
index price changes at the close of trading on a given Expiration
Friday with comparable price changes from a control sample. The data
would include a calculation of percentage price changes for various
time intervals and compare that information to the respective control
sample. The Exchange would provide a calculation of share volume for a
sample set of the component securities representing an upper limit on
share trading that could be attributable to expiring in-the-money
series. The data would include a comparison of the calculated share
volume for securities in the sample set to the average daily trading
volumes of those securities over a sample period. The minimum open
interest parameters, control sample, time intervals, method for
randomly selecting the component securities, and sample periods would
be determined by the Exchange and the Commission.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\18\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\19\ 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, in general to protect
investors and the public interest. Specifically, the Exchange believes
that the listing and trading of a reduced value P.M.-settled index
option contract based on the Nasdaq-100 will attract order flow to the
Exchange, increase the variety of listed options, and provide a
valuable hedge tool to retail and other investors.
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    \18\ 15 U.S.C. 78f(b).
    \19\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes that the proposed rule change will further
the Exchange's goal of introducing new and innovative products to the
marketplace. Specifically, the Exchange believes that NQX options would
provide additional opportunities for market participants to trade and
hedge exposure to the Nasdaq-100. The proposed NQ [sic] options product
is similar to NDX options that are currently listed and traded on the
Exchange with two important differences: (1) NQX options will be based
on \1/5\ the value of the Nasdaq-100, and (2) NQX options will be P.M.-
settled. These differences are based on the Exchanges experience
listing NDX options, and are designed to attract additional
participation from retail and other investors. Based on feedback
received from members, the Exchange believes that the proposed contract
specifications will be attractive to market participants, and will
remove impediments to and perfect the mechanism of a free and open
market and a national market system.
    Currently, the Exchange believes that there is unmet market demand
for exchange-listed index options on the Nasdaq-100. This unmet demand
stems in part from the high value of the Nasdaq-100 and the
consequently higher cost of purchasing NDX options. The value of the
Nasdaq-100 was 6,242.47, as of the opening of trading on December 5,
2017, and this high value has made it more difficult for retail and
other investors to comfortably purchase options on the index. The
Exchange believes that a reduced value index option would allow
additional participation from these investors. Specifically, the
Exchange believes that basing the contract on a reduced value of the
Nasdaq-100 will encourage additional participation by retail and other
investors due to the reduced capital outlay needed to trade these
options. While the Exchange previously listed a reduced value MNX
contract that product never attracted significant trading volume. The
Exchange believes that basing NQX options on \1/5\ the value of the
Nasdaq-100 strikes a more appropriate balance than the MNX product that
is based on \1/10\ the value of this index, as this value is more
similar to other competitive index option products and is also helpful
for market participants that want to hedge exposure to NQ futures that
are similarly based on \1/5\ the value of the Nasdaq-100.
    Furthermore, based on member feedback, the Exchange believes that
providing P.M.-settlement will make this product more attractive to
market participants and help garner additional support for this new
index options product. Specifically, the Exchange believes that P.M.-
settlement will be attractive to retail and other investors that want
to use these options to hedge an entire week of risk without leaving
residual risk on the day of expiration, and without having to actively
manage these positions, for example, by rolling their hedge into the
next expiration. For this reason, other popular index option products
have been transitioning to P.M.-settlement. For example, due to market
demand for P.M.-settlement, CBOE recently transitioned its heavily
traded SPX index options to P.M.-settlement, and removed related A.M.-
settled products.\20\ The Exchange believes that market participants
similarly desire P.M.-settlement for index options on the Nasdaq-100,
and proposes to offer such a product so that it can compete effectively
with similar index option products offered by CBOE.
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    \20\ See CBOE Regulatory Circular RG10-112.
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    When cash-settled index options were first introduced in the 1980s,
they generally utilized closing-price settlement procedures (i.e.,
P.M.-settlement). Due to concerns raised by the Commission on the
impact of P.M.-settlement on market volatility and the operation of
fair and orderly markets on the underlying cash market at or near the
close of trading on expiration day, however, exchanges moved to A.M.-
settlement for these products. As discussed in the recent approval of
the NDXPM product,\21\ however, the Commission has recognized that
these risks may be mitigated today by the enhanced closing procedures
that are now employed by the primary equity

markets. The Exchange believes that the concerns that led to the
transition to A.M.-settlement for index derivatives have been largely
mitigated today. Opening procedures in the 1990s were deemed acceptable
to mitigate one-sided order flow driven by index option expiration.
Nasdaq now has an automated closing cross that that facilitates orderly
closings by aggregating a large pool of liquidity, across a variety of
order types, in a single venue. The Exchange believes that Nasdaq's
closing procedures are well-equipped to mitigate imbalance pressure at
the close. Furthermore, the Exchange believes that the proposed Pilot
Program is designed to mitigate any potential concerns regarding P.M.
settlement. Specifically, the Exchange believes that the Pilot Program
will provide additional trading and hedging opportunities for investors
while providing the Commission with data to monitor for and assess any
potential for adverse market effects of allowing P.M.-settlement for
NQX options, including on the underlying component stocks.
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    \21\ See supra note 7.
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    Finally, NQX options will be subject to the same rules that
presently govern the trading of index options based on the Nasdaq-100,
including sales practice rules, margin requirements, trading rules, and
position and exercise limits. The Exchange therefore believes that the
rules applicable to trading in NQX options are consistent with the
protection of investors and the public interest. Furthermore, the
Exchange represents that it has sufficient systems capacity and
adequate surveillance procedures to handle trading in NQX options.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. NQX options would be
available for trading to all market participants. The proposed rule
change will facilitate the listing and trading of a new option product
that will enhance competition among market participants, to the benefit
of investors and the marketplace. The listing of NQX will enhance
competition by providing investors with an additional investment
vehicle, in a fully-electronic trading environment, through which
investors can gain and hedge exposure to the Nasdaq-100. Furthermore,
this product could offer a competitive alternative to other existing
investment products that seek to allow investors to gain broad market
exposure. Finally, it is possible for other exchanges to develop or
license the use of a new or different index to compete with the Nasdaq-
100 and seek Commission approval to list and trade options on such an
index.

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

    No written comments were either solicited or received.

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

    Within 45 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 Exchange consents, the Commission shall: (a) By order approve
or disapprove 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 is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please
include File Number SR-ISE-2017-106 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-ISE-2017-106. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-ISE-2017-106 and should be submitted on
or before January 16, 2018.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
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    \22\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-27699 Filed 12-22-17; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 82, Number 120 (Friday, June 23, 2017)]
[Notices]
[Page 28648]
[FR Doc No: 2017-13091]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. OR17-14-000]

Tesoro Refining & Marketing Company LLC v. Frontier Aspen LLC;
Notice of Complaint

    Take notice that on June 15, 2017, pursuant to Rule 206 of the
Federal Energy Regulatory Commission's (Commission) Rules of Practice
and Procedure,\1\ section 343.2 of the Procedural Rules Applicable to
Oil Pipeline Proceedings,\2\ and sections 1(4), 1(6), 2, 3(1), 6, 9,
13(1) and 15(1) of the Interstate Commerce Act,\3\ Tesoro Refining &
Marketing Company LLC (Complainant) filed a formal complaint against
Frontier Aspen LLC (Respondent) alleging that Respondent's pro rata
walk-up prorationing policy and lack of an equalization factor are
unjust, unreasonable and unduly discriminatory, all as more fully
explained in the complaint.
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    \1\ 18 CFR 385.206.
    \2\ 18 CFR 343.2.
    \3\ 49 App. U.S.C. 1(4), 1(6), 3(1), 6(1), 6(3), 6(7), 9, 13(1),
and 15(1) (1988).
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    Complainant states that a copy of the complaint was served on
Respondent.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211 and 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. 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 Complainant.
    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 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 July 17, 2017.

    Dated: June 16, 2017.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2017-13091 Filed 6-22-17; 8:45 am]
 BILLING CODE 6717-01-P


1310B  1 Revision 2 August 2002 METHOD 1310B EXTRACTION PROCEDURE ( EP) TOXICITY TEST METHOD AND STRUCTURAL INTEGRITY TEST 1.0 SCOPE AND APPLICATION 1.1 This method is used to determine whether a waste exhibits the characteristic of Extraction Procedure Toxicity.

1.2 The procedure may also be used to simulate the leaching which a waste may undergo if disposed of in a sanitary landfill. Method 1310 is applicable to liquid, solid, and multiphase samples.

2.0 SUMMARY OF METHOD 2.1 If a representative sample of the waste contains > 0.5% solids, the solid phase of the sample is ground to pass a 9.5 mm sieve and extracted with deionized water which is maintained at a pH of 5 + 0.2, with acetic acid. Wastes that contain < 0.5% filterable solids are, after filtering, considered to be the EP extract for this method. Monolithic wastes which can be formed into a cylinder 3.3 cm ( dia) x 7.1 cm, or from which such a cylinder can be formed which is representative of the waste, may be evaluated using the Structural Integrity Procedure instead of being ground to pass a 9.5 mm sieve.

3.0 INTERFERENCES 3.1 Potential interferences that may be encountered during analysis are discussed in the individual analytical methods.

4.0 APPARATUS AND MATERIALS 4.1 Extractor  For purposes of this test, an acceptable extractor is one that will impart sufficient agitation to the mixture to ( 1) prevent stratification of the sample and extraction fluid and ( 2) ensure that all sample surfaces are continuously brought into contact with well mixed extraction fluid. Examples of suitable extractors are shown in Figures 1 3 of this method and are available from: Associated Designs & Manufacturing Co., Alexandria, Virginia; Glas Col Apparatus Co., Terre Haute, Indiana; Millipore, Bedford, Massachusetts; and Rexnard, Milwaukee, Wisconsin.

4.2 pH meter or pH controller  Accurate to 0.05 pH units with temperature compensation.

4.3 Filter holder  Capable of supporting a 0.45 µ m filter membrane and of withstanding the pressure needed to accomplish separation. Suitable filter holders range from simple vacuum units to relatively complex systems that can exert up to 5.3 kg/ cm3 ( 75 psi) of pressure. The type of filter holder used depends upon the properties of the mixture to be filtered. Filter holders known to EPA and deemed suitable for use are listed in Table 1. 1310B  2 Revision 2 August 2002 4.4 Filter membrane  Filter membrane suitable for conducting the required filtration shall be fabricated from a material that ( 1) is not physically changed by the waste material to be filtered and ( 2) does not absorb or leach the chemical species for which a waste's EP extract will be analyzed. Table 2 lists filter media known to the Agency to be suitable for solid waste testing.

4.4.1 In cases of doubt about physical effects on the filter, contact the filter manufacturer to determine if the membrane or the prefilter is adversely affected by the particular waste. If no information is available, submerge the filter in the waste's liquid phase. A filter that undergoes visible physical change after 48 hours ( i. e., curls, dissolves, shrinks, or swells) is unsuitable for use.

4.4.2 To test for absorption or leaching by the filter:

<IP_ADDRESS> Prepare a standard solution of the chemical species of interest.

<IP_ADDRESS> Analyze the standard for its concentration of the chemical species.

<IP_ADDRESS> Filter the standard and reanalyze. If the concentration of the filtrate differs from that of the original standard, then the filter membrane leaches or absorbs one or more of the chemical species and is not usable in this test method.

4.5 Structural integrity tester  A device meeting the specifications shown in Figure 4 and having a 3.18 cm ( 1.25 in) diameter hammer weighing 0.33 kg ( 0.73 lb) with a free fall of 15.24 cm ( 6 in) shall be used. This device is available from Associated Design and Manufacturing Company, Alexandria, VA 22314, as Part No. 125, or it may be fabricated to meet these specifications.

5.0 REAGENTS 5.1 Reagent grade chemicals shall be used in all tests. Unless otherwise indicated, it is intended that all reagents shall conform to the specifications of the Committee on Analytical Reagents of the American Chemical Society, where such specifications are available. Other grades may be used, provided it is first ascertained that the reagent is of sufficiently high purity to permit its use without lessening the accuracy of the determination.

5.2 Reagent water. All references to water in this method refer to reagent water, as defined in Chapter One.

5.3 Acetic acid ( 0.5N), CH 3 C00H. This can be made by diluting concentrated glacial acetic acid ( 17.5N) by adding 57 mL glacial acetic acid to 1,000 mL of water and diluting to 2 liters. The glacial acetic acid must be of high purity and monitored for impurities.

5.4 Analytical standards should be prepared according to the applicable analytical methods.

6.0 SAMPLE COLLECTION, PRESERVATION, AND HANDLING 6.1 Preservatives must not be added to samples. 1310B  3 Revision 2 August 2002 weight of filtered solid and filters tared weight of filters initial weight of waste material 100 % solids - = x 6.2 Samples can be refrigerated if it is determined that refrigeration will not affect the integrity of the sample.

7.0 PROCEDURE 7.1 If the waste does not contain any free liquid, go to Step 7.9. If the sample is liquid or multiphase, continue as follows. Weigh filter membrane and prefilter to + 0.01 g. Handle membrane and prefilters with blunt curved tip forceps or vacuum tweezers, or by applying suction with a pipet.

7.2 Assemble filter holder, membranes, and prefilters following the manufacturer's instructions. Place the 0.45 µ m membrane on the support screen and add prefilters in ascending order of pore size. Do not prewet filter membrane.

7.3 Weigh out a representative subsample of the waste ( 100 g minimum).

7.4 Allow slurries to stand, to permit the solid phase to settle. Wastes that settle slowly may be centrifuged prior to filtration.

7.5 Wet the filter with a small portion of the liquid phase from the waste or from the extraction mixture. Transfer the remaining material to the filter holder and apply vacuum or gentle pressure ( 10 15 psi) until all liquid passes through the filter. Stop filtration when air or pressurizing gas moves through the membrane. If this point is not reached under vacuum or gentle pressure, slowly increase the pressure in 10 psi increments to 75 psi. Halt filtration when liquid flow stops. This liquid will constitute part or all of the extract ( refer to Step 7.16). The liquid should be refrigerated until time of analysis.

NOTE: Oil samples or samples containing oil are treated in exactly the same way as any other sample. The liquid portion of the sample is filtered and treated as part of the EP extract. If the liquid portion of the sample will not pass through the filter ( usually the case with heavy oils or greases), it should be carried through the EP extraction as a solid.

7.6 Remove the solid phase and filter media and, while not allowing them to dry, weigh to + 0.01 g. The wet weight of the residue is determined by calculating the weight difference between the weight of the filters ( Step 7.1) and the weight of the solid phase and the filter media.

7.7 The waste will be handled differently from this point on, depending on whether it contains more or less than 0.5% solids. If the sample appears to have < 0.5% solids, determine the percent solids exactly ( see Note below) by the following procedure:

7.7.1 Dry the filter and residue at 80 E C until two successive weighings yield the same value.

7.7.2 Calculate the percent solids, using the following equation: 1310B  4 Revision 2 August 2002 NOTE: This procedure is used only to determine whether the solid must be extracted or whether it can be discarded unextracted. It is not used in calculating the amount of water or acid to use in the extraction step. Do not extract solid material that has been dried at 80 E C. A new sample will have to be used for extraction if a percent solids determination is performed.

7.8 If the solid constitutes < 0.5% of the waste, discard the solid and proceed immediately to Step 7.17, treating the liquid phase as the extract.

7.9 The solid material obtained from Step 7.5 and all materials that do not contain free liquids shall be evaluated for particle size. If the solid material has a surface area per g of material > 3.1 cm2 or passes through a 9.5 mm ( 0.375 in.) standard sieve, the operator shall proceed to Step 7.11. If the surface area is smaller or the particle size larger than specified above, the solid material shall be prepared for extraction by crushing, cutting, or grinding the material so that it passes through a 9.5 mm ( 0.375 in.) sieve or, if the material is in a single piece, by subjecting the material to the " Structural Integrity Procedure" described in Step 7.10.

7.10 Structural Integrity Procedure ( SIP)

7.10.1 Cut a 3.3 cm diameter by 7.1 cm long cylinder from the waste material. If the waste has been treated using a fixation process, the waste may be cast in the form of a cylinder and allowed to cure for 30 days prior to testing.

7.10.2 Place waste into sample holder and assemble the tester. Raise the hammer to its maximum height and drop. Repeat 14 additional times.

7.10.3 Remove solid material from tester and scrape off any particles adhering to sample holder. Weigh the waste to the nearest 0.01 g and transfer it to the extractor.

7.11 If the sample contains > 0.5% solids, use the wet weight of the solid phase ( obtained in Step 7.6) to calculate the amount of liquid and acid to employ for extraction by using the following equation:

W = W f  W t where :

W = Wet weight in g of solid to be charged to extractor.

W f = Wet weight in g of filtered solids and filter media.

W t = Weight in g of tared filters.

If the waste does not contain any free liquids, 100 g of the material will be subjected to the extraction procedure.

7.12 Place the appropriate amount of material ( refer to Step 7.11) into the extractor and add 16 times its weight with water. 1310B  5 Revision 2 August 2002 7.13 After the solid material and water are placed in the extractor, the operator shall begin agitation and measure the pH of the solution in the extractor. If the pH is > 5.0, the pH of the solution should be decreased to 5.0 + 0.2 by slowly adding 0.5N acetic acid. If the pH is < 5.0, no acetic acid should be added. The pH of the solution should be monitored, as described below, during the course of the extraction, and, if the pH rises above 5.2, 0.5N acetic acid should be added to bring the pH down to 5.0 + 0.2. However, in no event shall the aggregate amount of acid added to the solution exceed 4 mL of acid per g of solid. The mixture should be agitated for 24 hours and maintained at 20 40 E C ( 68 104 E F) during this time. It is recommended that the operator monitor and adjust the pH during the course of the extraction with a device such as the Type 45 A pH Controller, manufactured by Chemtrix, Inc., Hillsboro, Oregon 97123, or its equivalent, in conjunction with a metering pump and reservoir of 0.5N acetic acid. If such a system is not available, the following manual procedure shall be employed.

NOTE: Do not add acetic acid too quickly. Lowering the pH to below the target concentration of 5.0 could affect the metal concentrations in the leachate.

7.13.1 A pH meter should be calibrated in accordance with the manufacturer's specifications.

7.13.2 The pH of the solution should be checked, and, if necessary, 0.5 N acetic acid should be manually added to the extractor until the pH reaches 5.0 + 0.2. The pH of the solution should be adjusted at 15, 30, and 60 minute intervals, moving to the next longer interval if the pH does not have to be adjusted > 0.5 pH units.

7.13.3 The adjustment procedure should be continued for at least 6 hours.

7.13.4 If, at the end of the 24 hour extraction period, the pH of the solution is not below 5.2 and the maximum amount of acid ( 4 mL per g of solids) has not been added, the pH should be adjusted to 5.0 + 0.2 and the extraction continued for an additional 4 hours, during which the pH should be adjusted at 1 hour intervals.

7.14 At the end of the extraction period, water should be added to the extractor in an amount determined by the following equation:

V = ( 20)( W)  16( W)  A where:

V = mL water to be added.

W = Weight in g of solid charged to extractor.

A = mL of 0.5N acetic acid added during extraction.

7.15 The material in the extractor should be separated into its component liquid and solid phases in the following manner:

7.15.1 Allow slurries to stand to permit the solid phase to settle ( wastes that are slow to settle may be centrifuged prior to filtration) and set up the filter apparatus ( refer to Steps 4.3 and 4.4). 1310B  6 Revision 2 August 2002 ( ) ( ) 50 1000 x x contaminant conc. in oil contaminant conc. of aqueous phase 1050 + , 7.15.2 Wet the filter with a small portion of the liquid phase from the waste or from the extraction mixture. Transfer the remaining material to the filter holder and apply vacuum or gentle pressure ( 10 15 psi) until all liquid passes through the filter. Stop filtration when air or pressurizing gas moves through the membrane. If this point is not reached under vacuum or gentle pressure, slowly increase the pressure in 10 psi increments to 75 psi. Halt filtration when liquid flow stops.

7.16 The liquids resulting from Steps 7.5 and 7.15 should be combined. This combined liquid ( or waste itself, if it has < 0.5% solids, as noted in Step 7.8) is the extract.

7.17 The extract is then prepared and analyzed using the appropriate analytical methods described in Chapters Three and Four of this manual.

NOTE: If the EP extract includes two phases, concentration of contaminants is determined by using a simple weighted average. For example: An EP extract contains 50 mL of oil and 1,000 mL of an aqueous phase. Contaminant concentrations are determined for each phase. The final contamination concentration is taken to be:

NOTE: In cases where a contaminant was not detected, use the MDL in the calculation. For example, if the MDL in the oily phase is 100 mg/ L and 1 mg/ L in the aqueous phase, the reporting limit would be 6 mg/ L ( rounded to the nearest mg). If the regulatory threshold is 5 mg/ L, the waste may be EP toxic and results of the analysis are inconclusive.

8.0 QUALITY CONTROL 8.1 All quality control data should be maintained and available for easy reference or inspection.

8.2 Employ a minimum of one blank per sample batch to determine if contamination or any memory effects are occurring.

8.3 All quality control measures described in Chapter One and in the referenced analytical methods should be followed.

9.0 METHOD PERFORMANCE 9.1 The data tabulated in Table 3 were obtained from records of state and contractor laboratories and are intended to show the precision of the entire method ( 1310 plus analysis method). 1310B  7 Revision 2 August 2002 10.0 REFERENCES 1. Rohrbough, W. G.; et al. Reagent Chemicals, American Chemical Society Specifications, 7th ed.; American Chemical Society: Washington, DC, 1986.

2. 1985 Annual Book of ASTM Standards, Vol. 11.01; " Standard Specification for Reagent Water"; ASTM: Philadelphia, PA, 1985; D1193 77.

3. Gaskill, A., Compilation and Evaluation of RCRA Method Performance Data, Work Assignment No. 2, EPA Contract No. 68 01 7075, September 1986. 1310B  8 Revision 2 August 2002 TABLE 1. EPA APPROVED FILTER HOLDERS Manufacturer Size Model No. Comments Vacuum Filters Gelman 47 mm 4011 Nalgene 500 mL 44 0045 Disposable plastic unit, including prefilter, filter pads, and reservoir; can be used when solution is to be analyzed for inorganic constituents.

Nuclepore 47 mm 410400 Millipore 47 mm XX10 047 00 Pressure Filters Nuclepore 142 mm 425900 Micro Filtration Systems 142 mm 302300 Millipore 142 mm YT30 142 HW 1310B  9 Revision 2 August 2002 TABLE 2. EPA APPROVED FILTRATION MEDIA Supplier Filter to be used for aqueous systems Filter to be used for organic systems Coarse prefilter Gelman 61631, 61635 61631, 61635 Nuclepore 210907, 211707 210907, 211707 Millipore AP25 035 00, AP25 127 50 AP25 035 00, AP25 127 50 Medium prefilters Gelman 61654, 61655 Nuclepore 210905, 211705 210905, 211705 Millipore AP20 035 00, AP20 124 50 AP20 035 00, AP20 124 50 Fine prefilters Gelman 64798, 64803 64798, 64803 Nuclepore 210903, 211703 210903, 211703 Millipore AP15 035 00, AP15 124 50 AP15 035 00, AP15 124 50 Fine filters ( 0.45 µ m)

Gelman 63069, 66536 60540 or 66149, 66151 Pall NX04750, NX14225 Nuclepore 142218 142218a Millipore HAWP 047 00, HAWP 142 50 FHUP 047 00, FHLP 142 50 Selas 83485 02, 83486 02 83485 02, 83486 02 a Susceptible to decomposition by certain polar organic solvents. 1310B  10 Revision 2 August 2002 TABLE 3. PRECISIONS OF EXTRACTION ANALYSIS PROCEDURES FOR SEVERAL ELEMENTS Element Sample Matrix Analysis Method Laboratory Replicates Arsenic 1. Auto Fluff 2. Barrel sludge 3. Lumber treatment company sediment 7060 7060 7060 1.8, 1.5 µ g/ L 0.9, 2.6 µ g/ L 28, 42 mg/ L Barium 1. Lead smelting emission control dust 2. Auto Fluff 3. Barrel Sludge 6010 7081 7081 0.12, 0.12 mg/ L 791, 780 µ g/ L 422, 380 µ g/ L Cadmium 1. Lead smelting emission control dust 2. Wastewater treatment sludge from electroplating 3. Auto fluff 4. Barrel sludge 5. Oil refinery tertiary pond sludge 3010/ 7130 3010/ 7130 7131 7131 7131 120, 120 mg/ L 360, 290 mg/ L 470, 610 µ g/ L 1100, 890 µ g/ L 3.2, 1.9 µ g/ L Chromium 1. Wastewater treatment sludge from electroplating 2. Paint primer 3. Paint primer filter 4. Lumber treatment company sediment 5. Oil refinery tertiary pond sludge 3010/ 7190 7191 7191 7191 7191 1.1, 1.2 mg/ L 61, 43 µ g/ L   0.81, 0.89 mg/ L   Mercury 1. Barrel sludge 2. Wastewater treatment sludge from electroplating 3. Lead smelting emission control dust 7470 7470 7470 0.15, 0.09 µ g/ L 1.4, 0.4 µ g/ L 0.4, 0.4 µ g/ L 1310B  11 Revision 2 August 2002 TABLE 3 ( Continued)

Element Sample Matrix Analysis Method Laboratory Replicates Lead 1. Lead smelting emission control dust 2. Auto fluff 3. Incinerator ash 4. Barrel sludge 5. Oil refinery tertiary pond sludge 3010/ 7420 7421 7421 7421 7421 940, 920 mg/ L 1540, 1490 µ g/ L 1000, 974 µ g/ L 2550, 2800 µ g/ L 31, 29 µ g/ L Nickel 1. Sludge 2. Wastewater treatment sludge from electroplating 7521 3010/ 7520 2260, 1720 µ g/ L 130, 140 mg/ L Chromium ( VI) 1. Wastewater treatment sludge from electroplating 7196 18, 19 µ g/ L 1310B  12 Revision 2 August 2002 FIGURE 1. EXTRACTOR 1310B  13 Revision 2 August 2002 FIGURE 2. ROTARY EXTRACTOR 1310B  14 Revision 2 August 2002 FIGURE 3. EPRI EXTRACTOR 1310B  15 Revision 2 August 2002 FIGURE 4. COMPACTION TESTER 1310B  16 Revision 2 August 2002 METHOD 1310B EXTRACTION PROCEDURE ( EP) TOXICITY TEST METHOD AND STRUCTURAL INTEGRITY TEST 1310B  17 Revision 2 August 2002 METHOD 1310B ( Continued) 1310B  18 Revision 2 August 2002 METHOD 1310B ( Continued)


[Federal Register Volume 88, Number 174 (Monday, September 11, 2023)]
[Notices]
[Pages 62426-62427]
[FR Doc No: 2023-19520]

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DEPARTMENT OF TRANSPORTATION

Federal Railroad Administration

[Docket No. FRA-2010-0044]

Trinity Railway Express and the Silver Line's Joint Request for
Approval To Conduct Positive Train Control Field Testing

AGENCY: Federal Railroad Administration (FRA), Department of
Transportation (DOT).

ACTION: Notice of availability and request for comments.

-----------------------------------------------------------------------

SUMMARY: This document provides the public with notice that on August
29, 2023, Trinity Railway Express (TRE) submitted a request together
with the Silver Line (SLVR) to field test trains on TRE's positive
train control (PTC)-equipped territory, which is equipped with the
Interoperable Electronic Train Management System (I-ETMS). FRA is
publishing this notice and inviting public comment on TRE and SLVR's
joint request to test I-ETMS.

DATES: FRA will consider comments received by November 13, 2023. FRA
may consider comments received after that date to the extent
practicable and without delaying testing or implementation of a PTC
system.

ADDRESSES:
    Comments: Comments may be submitted by going to https://www.regulations.gov and following the online instructions for
submitting comments.
    Instructions: All submissions must include the agency name and the
applicable docket number. The relevant PTC docket number for this host
railroad is Docket No. FRA-2010-0044. For convenience, all active PTC
documents are hyperlinked on FRA's website at https://railroads.dot.gov/reserch-development/program-areas/train-control/ptc/railroads-ptc-dockets. All comments received will be posted without
change to https://www.regulations.gov; this includes any personal
information.

FOR FURTHER INFORMATION CONTACT: Gabe Neal, Staff Director, Signal,
Train Control, and Crossings Division, telephone:<PHONE_NUMBER>, email:
[email protected].

SUPPLEMENTARY INFORMATION: In general, title 49 United States Code
(U.S.C.) section 20157(h) requires FRA to certify that a host
railroad's PTC system complies with title 49 Code of Federal
Regulations (CFR) part 236, subpart I, before the technology may be
operated in revenue service. On December 23, 2020, FRA certified TRE's
I-ETMS PTC system under 49 CFR 236.1015 and 49 U.S.C. 20157(h).
Pursuant to 49 CFR 236.1035, a railroad must obtain FRA's approval
before field testing an uncertified PTC system, or a product of an
uncertified PTC system, or any regression testing of a certified PTC
system on the general rail system. See 49 CFR 236.1035(a). The joint
test request, including a complete description of the Concept of
Operations and specific test procedures that document the measures that
will be taken to ensure safety during testing, are available for review
online at https://www.regulations.gov in Docket No. FRA-2010-0044.
    Interested parties are invited to comment on the test request by
submitting written comments or data. During its review of the test
request, FRA will consider any comments or data submitted within the
timeline specified in this notice and to the extent practicable. FRA,
however, may elect not to respond to any particular comment, and under
49 CFR 236.1035, FRA maintains the authority to approve, approve with
conditions, or deny the test request at its sole discretion.

Privacy Act Notice

    In accordance with 49 CFR 211.3, FRA solicits comments from the
public

to better inform its decisions. DOT posts these comments, without edit,
including any personal information the commenter provides, to https://www.regulations.gov, as described in the system of records notice (DOT/
ALL-14 FDMS), which can be reviewed at https://www.transportation.gov/privacy. See https://www.regulations.gov/privacy-notice for the privacy
notice of regulations.gov. To facilitate comment tracking, we encourage
commenters to provide their name, or the name of their organization;
however, submission of names is completely optional. If you wish to
provide comments containing proprietary or confidential information,
please contact FRA for alternate submission instructions.

    Issued in Washington, DC.
Carolyn R. Hayward-Williams,
Director, Office of Railroad Systems and Technology.
[FR Doc. 2023-19520 Filed 9-8-23; 8:45 am]
BILLING CODE 4910-06-P