[Federal Register: March 29, 2006 (Volume 71, Number 60)]
[Notices]
[Page 15780-15781]
[DOCID:fr29mr06-141]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53543; File No. SR-CBOE-2006-21]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change To Revise Provisions of the Exchange's Crossing Rule

March 23, 2006.
    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 February 28, 2006, the Chicago Board Options Exchange,
Incorporated (``CBOE'' or ``Exchange'') filed with the Securities and
Exchange Commission (``Commission'') the proposed rule change as
described in Items I and II below, which Items have been prepared by
CBOE. The Exchange filed the proposal as a ``non-controversial'' rule
change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-
4(f)(6) thereunder,\4\ which renders the proposed rule change effective
upon filing with the Commission. 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.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    CBOE proposes certain changes to provisions of its rule that
governs the participation rights of firms crossing orders in open
outcry. The text of the proposed rule change is available on the
Exchange's Web site (http://www.cboe.com), at the Exchange's Office of

the Secretary, 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, CBOE 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. CBOE 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
    Paragraphs (d) and (e) of CBOE Rule 6.74 currently provide
guaranteed participation rights to floor brokers in trades that are
crossed in open outcry in certain circumstances. Generally, these
provisions provide that if the trade takes place at the market provided
by the crowd then, after all public customer orders in the book and
represented in the trading crowd at the time the market was established
are satisfied, the floor broker representing the order will be entitled
to cross a certain percentage of the contracts remaining in the
original order. The percentage could be 40% or 20%, depending upon the
particular type of option. For example, transactions in equity options
are generally subject to a 40% participation guarantee under paragraph
(d) and broad-based index options (where the option class is not traded
at an equity option trading post) are generally subject to a 20%
participation guarantee under paragraph (e).
    In order to clarify and simplify the crossing provisions related to
the 40% and 20% participation entitlements, the Exchange is deleting
the current crossing entitlement provisions in paragraphs (d) and (e)
of CBOE Rule 6.74 and creating a new crossing entitlement provision
(proposed new paragraph (d) of CBOE Rule 6.74), which combines aspects
of current paragraphs (d) and (e) of the current rule. The new
paragraph (d) would provide a crossing entitlement for all option
classes traded on the Exchange,\5\ and set forth applicable parameters
that would be set by the appropriate Exchange Procedure Committee on a
class-by-class basis.\6\ In addition, proposed CBOE Rule 6.74(d)(viii)
would provide that the appropriate Procedure Committee would have the
authority to exempt an option class from the section of the rule that
provides for the crossing guarantee.\7\ For each class that is subject
to the crossing entitlement provisions, the appropriate Procedure
Committee would determine the following: (i) Whether the crossing
guarantee applies to facilitations and/or solicitations; \8\ (ii) a
crossing guarantee percentage of either 20% or 40% (after public
customer orders are satisfied); \9\ and (iii) the eligible size for an
order that may be subject to the guaranteed crossing entitlement,
although the eligible order size may not be less than 50 contracts.\10\

    The Exchange is also revising CBOE Rule 6.9.04 to make that
provision consistent with the first paragraph of proposed CBOE Rule
6.74(d).
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    \5\ Currently, the crossing entitlements of CBOE Rule 6.74(d)
and (e) apply only to trading in equity and broad-based index
options. See Telephone conversation between David Doherty, Attorney,
CBOE, and Jan Woo, Attorney, Division of Market Regulation,
Commission, March 15, 2006 (``Telephone conversation of March 15,
2006'').
    \6\ The particular open outcry trading procedures applicable to
the crossing guarantee will continue to apply unchanged. Generally,
a floor broker representing an order eligible for crossing must
request bids and offers and make all persons in the trading crowd
aware of the request. When the cross involves a facilitation of a
public customer order, the floor broker must make certain
disclosures on the order ticket for the public customer and must
disclose all securities that are components of the public customer
order before requesting bids and offers for the execution of all
components of the order. Once the trading crowd has provided a
quote, the floor broker is entitled to cross a certain percentage of
the order after all public customer orders that were on the limit
order book and represented in the trading crowd at the time the
market was established have been satisfied. The current provisions
describing the Designated Primary Market-Maker's (``DPM'')
guaranteed participation level (the guaranteed participation level
will be a percentage that when combined with the percentage the
originating firm crossed, does not exceed 40% of the order that
remains after satisfying those public customer orders which trade
ahead of the cross transaction) and priority of members of the
trading crowd who established the market also apply unchanged under
the proposed rule change. As is also provided in the existing
procedures, nothing prohibits a floor broker or DPM from trading
more than their applicable participation entitlements if the other
members of the trading crowd do not choose to trade the remaining
portion of the order. The proposed rule change also includes
references to Lead Market-Makers, since that category of Exchange
market participant may be entitled to a participation entitlement
pursuant to CBOE Rule 8.15B.
    \7\ This exemptive provision is identical to what is currently
provided in subparagraph (e)(viii) of CBOE Rule 6.74 with respect to
broad-based index options. Telephone conversation of March 15, 2006.
    \8\ Currently, CBOE Rule 6.74(d) and Commentary .08 to CBOE Rule
6.74 provide for a crossing guarantee for both facilitation and
solicitation orders in the case of equity options, and CBOE Rule
6.74(e) provides a crossing guarantee for facilitation orders only
in the case of broad-based index options. Telephone conversation of
March 15, 2006.
    \9\ As described above, the current rules provide a 20% crossing
guarantee in the case of broad-based index options and a 40%
crossing guarantee in the case of equity options. Telephone
conversation of March 15, 2006.
    \10\ The proposed rule change also would establish that, in
determining whether an order satisfies the eligible order size
requirement, any multi-part or complex order (including a spread,
straddle, combination, or ratio order (or a stock-option order or
security future-option order, as defined in CBOE Rules 1.1(ii)(b)
and 1.1(zz)(b), respectively) or any other complex order defined in
CBOE Rule 6.53C) must contain one leg alone which is for the
eligible order size or greater. Telephone conversation of March 15,
2006.
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2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
Section 6(b) of the Act \11\ in general and furthers the objectives of
Section 6(b)(5) of the Act \12\ in particular in that it is designed to
promote just and equitable principles of trade, serve to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and protect investors and the public
interest.
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    \11\ 15 U.S.C. 78f(b).
    \12\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    CBOE 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.

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

    The Exchange neither solicited nor received comments on the
proposal.

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

    Because the foregoing proposed rule change: (1) Does not
significantly affect the protection of investors or the public
interest; (2) does not impose any significant burden on competition;
and (3) by its terms does not become operative for 30 days after the
date of this filing, or such shorter time as the Commission may
designate if consistent with the protection of investors and the public
interest, the proposed rule change has become effective pursuant to
Section 19(b)(3)(A) \13\ of the Act and Rule 19b-4(f)(6)
thereunder.\14\
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    \13\ 15 U.S.C. 78s(b)(3)(A).
    \14\ 17 CFR 240.19b-4(f)(6). The Exchange provided the
Commission with written notice of its intention to file the proposed
rule change on February 13, 2006. The Commission received the
Exchange's submission, and asked the Exchange to file the instant
proposed rule change, pursuant to Rule 19b-4(f)(6) under the Act.
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    CBOE requests that the Commission waive the 30-day operative delay,
as specified in Rule 19b-4(f)(6)(iii),\15\ and designate the proposed
rule change to become operative immediately. The Commission believes
that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest because the proposed
rule change establishes a uniform set of rules with respect to
facilitation and solicitation orders for all options based on
principles already approved by the Commission, while setting forth
parameters by which the appropriate Exchange Procedure Committee may
apply these rules flexibly on a class-by-class basis.\16\ Waiving the
30-day pre-operative period will allow the Exchange to implement these
changes without delay.
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    \15\ 17 CFR 240.19b-4(f)(6)(iii).
    \16\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate 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.

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 e-mail to<EMAIL_ADDRESS>Please include

File No. SR-CBOE-2006-21 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE, Washington, DC 20549-1090.

All submissions should refer to File Number SR-CBOE-2006-21. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml
). Copies of the submission, all subsequent amendments, all

written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Room. Copies of such
filing also will be available for inspection and copying at the
principal office of CBOE. 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-CBOE-2006-21 and should be submitted on or before April 19, 2006.
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    \17\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\17\
Nancy M. Morris,
Secretary.
 [FR Doc. E6-4539 Filed 3-28-06; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 81, Number 143 (Tuesday, July 26, 2016)]
[Notices]
[Pages 48789-48791]
[FR Doc No: 2016-17706]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPPT-2016-0399 and EPA-HQ-OPPT-2016-0400; FRL-9949-52]

Processes for Risk Evaluation and Chemical Prioritization for
Risk Evaluation Under the Amended Toxic Substances Control Act; Notice
of Public Meetings and Opportunities for Public Comment

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: EPA is holding two public meetings to obtain input into the
Agency's development of processes for risk evaluation and chemical
prioritization for risk evaluation under the Toxic Substances Control
Act as amended by the Frank R. Lautenberg Chemical Safety for the 21st
Century Act (TSCA). Information obtained during these meetings will be
considered in the Agency's development of the proposed procedural
regulations required under TSCA.

DATES: Meetings. For the chemical evaluation process, the meeting will
be held on August 9, 2016 from 9:30 a.m. to 4:30 p.m.. For the process
of prioritizing chemicals for risk evaluation, the meeting will be held
on August 10, 2016 from 9:30 a.m. to 4:30 p.m.
    Meeting Registration. Advance registration for each meeting must be
completed no later than August 4, 2016. On-site registration will be
permitted, but seating and speaking priority will be given to those who
pre-register by the deadline.
    Reasonable Accommodations. To request accommodation of a
disability, please contact the technical person listed under FOR
FURTHER INFORMATON CONTACT, preferably by August 1, 2016, to give EPA
as much time as possible to process your request.
    Comments. EPA will hear oral comments at each meeting, and will
accept written comments and materials

submitted to the applicable docket on or before August 17, 2016.

ADDRESSES: Meetings. The meetings will be held in the Horizon Ballroom
at the Ronald Reagan Building and International Trade Center, 1300
Pennsylvania Avenue NW., Washington, DC 20004. The meetings will also
be available by remote access for registered participants. For further
information, see Unit III.A. under SUPPLEMENTARY INFORMATION.
    Meeting registration. You may register online (preferred) or in
person at the meeting. To register online, go to http://opptstakeholder.eventbrite.com.
    Comments. Submit written comments and materials, identified by the
relevant docket ID number, i.e., for the meeting on the process for
risk evaluation, use docket ID EPA-HQ-OPPT-2016-0400; and for the
meeting on the process of chemical prioritization for risk evaluation,
use docket ID EPA-HQ-OPPT-2016-0399, by one of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov.
Follow the online instructions for submitting comments. Do not submit
electronically any information you consider to be Confidential Business
Information (CBI) or other information whose disclosure is restricted
by statute.
     Mail: Document Control Office (7407M), Office of Pollution
Prevention and Toxics (OPPT), Environmental Protection Agency, 1200
Pennsylvania Ave. NW., Washington, DC 20460-0001.
     Hand Delivery: To make special arrangements for hand
delivery or delivery of boxed information, please follow the
instructions at http://www.epa.gov/dockets/contacts.html. Additional
instructions on commenting or visiting the docket, along with more
information about dockets in general is available at http://www.epa.gov/dockets.

FOR FURTHER INFORMATION CONTACT:
    For technical information contact: Chris Blunck, Office of
Pollution Prevention and Toxics, Environmental Protection Agency, 1200
Pennsylvania Ave. NW., Washington, DC 20460-0001; telephone number:
(202) 564-8078; email address<EMAIL_ADDRESS>    For meeting logistics or registration contact: Klara Zimmerman, Abt
Associates; telephone number:<PHONE_NUMBER>; email address:
<EMAIL_ADDRESS>    For general information contact: The TSCA-Hotline, ABVI-Goodwill,
422 South Clinton Ave., Rochester, NY 14620; telephone number: (202)
554-1404; email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. General Information

A. Does this action apply to me?

    This action is directed to the public in general, and may be of
interest to a wide range of stakeholders including chemical
manufacturers, processors and users, consumer product companies, non-
profit organizations in the environmental and public health sectors,
state and local government agencies, and members of the public
interested in the environmental and human health assessment and
regulation of chemical substances. Since others also may be interested,
the Agency has not attempted to describe all the specific entities that
may be affected by this action.

B. How can I get copies of documents related to this meeting?

    EPA has established two dockets for the meetings: For the meeting
on the process for risk evaluation, use docket ID No. EPA-HQ-OPPT-2016-
0400; and for the meeting on the process of chemical prioritization for
risk evaluation, use docket ID No. EPA-HQ-OPPT-2016-0399. Both dockets
are available either online at http://www.regulations.gov or in person
at the Office of Pollution Prevention and Toxics Docket (OPPT Docket),
Environmental Protection Agency Docket Center (EPA/DC), West William
Jefferson Clinton Bldg., Rm. 3334, 1301 Constitution Ave. NW.,
Washington, DC. The Public Reading Room is open from 8:30 a.m. to 4:30
p.m., Monday through Friday, excluding legal holidays. The telephone
number for the Public Reading Room is<PHONE_NUMBER>, and the telephone
number for the OPPT Docket is<PHONE_NUMBER>. Please review the visitor
instructions and additional information about the docket available at
http://www.epa.gov/dockets. Documents and meeting information will also
be available at the registration Web site.

II. Background

    On June 22, 2016, President Obama signed into law the Frank R.
Lautenberg Chemical Safety for the 21st Century Act, which amended the
Toxic Substances Control Act of 1976. The revised TSCA includes
provisions that require EPA to develop by rule processes for risk
evaluation and chemical prioritization for risk evaluation. Additional
information on the revisions to TSCA can be found at https://www.epa.gov/assessing-and-managing-chemicals-under-tsca/frank-r-lautenberg-chemical-safety-21st-century-act.
    Risk evaluation. The meeting on August 9, 2016 will be for the
purpose of gathering information for EPA consideration in developing
the rule required under TSCA section 6(b)(4). Under TSCA section
6(b)(4), not later than 1 year after the date of enactment (i.e., by
June 21, 2017), EPA is required to establish by rule a process to
conduct risk evaluations to determine whether a chemical substance
presents an unreasonable risk of injury to health or the environment.
    Prioritization for risk evaluations. The meeting on August 10, 2016
will be for the purpose of gathering information for EPA consideration
in developing the rule required under TSCA section 6(b)(1). Under TSCA
section 6(b)(1), EPA must within 1 year of enactment (i.e., by June 21,
2017) establish by rule a risk-based screening process, including
criteria for designating chemical substances as high-priority for risk
evaluations or low-priority for which risk evaluations are not
warranted at the time.

III. Meeting

A. Remote Access

    The meetings will be accessible remotely for registered
participants. Registered participants will receive information on how
to connect to the meetings prior to their start.

B. Public Participation at the Meeting

    Members of the public may register to attend the meetings as
observers and may also register to provide oral comments on the days of
the meetings. A registered speaker is encouraged to focus on issues
directly relevant to the particular meeting's subject matter. Each
speaker is allowed no more than 5 minutes in each meeting. To
accommodate as many registered speakers as possible, speakers may
present oral comments only, without visual aids or written material.
Persons registered to speak (as well as others) may submit written
materials to the dockets as described under ADDRESSES.

IV. How can I request to participate in this meeting?

 A. Registration

    To attend a meeting in person or to receive remote access, please
register no later than August 4, 2016, using one of the methods
described under ADDRESSES. While on-site registration will be
available, seating will be on a first-come, first-served basis, with
priority given to early registrants, until room capacity is reached.
The Agency

anticipates that approximately 150 people will be able to attend each
of the meetings in person. For registrants not able to attend in
person, the meetings will also provide remote access capabilities;
registered participants will be provided information on how to connect
to the meetings prior to their start.

B. Required Registration Information

    Members of the public may register to attend as observers or speak
if planning to offer oral comments during the scheduled public comment
periods. To register for the meetings online, you must provide your
full name, organization or affiliation, and contact information.

    Authority:  15 U.S.C. 2605.

    Dated: July 20, 2016.
Jeffery T. Morris,
Acting Director, Office of Pollution Prevention and Toxics.
[FR Doc. 2016-17706 Filed 7-25-16; 8:45 am]
 BILLING CODE 6560-50-P


[Federal Register Volume 88, Number 147 (Wednesday, August 2, 2023)]
[Notices]
[Page 50897]
[FR Doc No: 2023-16359]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-4718-DR; Docket ID FEMA-2023-0001]

South Dakota; Major Disaster and Related Determinations

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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SUMMARY: This is a notice of the Presidential declaration of a major
disaster for the State of South Dakota (FEMA-4718-DR), dated July 6,
2023, and related determinations.

DATES: The declaration was issued July 6, 2023.

FOR FURTHER INFORMATION CONTACT: Dean Webster, Office of Response and
Recovery, Federal Emergency Management Agency, 500 C Street SW,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Notice is hereby given that, in a letter
dated July 6, 2023, the President issued a major disaster declaration
under the authority of the Robert T. Stafford Disaster Relief and
Emergency Assistance Act, 42 U.S.C. 5121 et seq. (the ``Stafford
Act''), as follows:

    I have determined that the damage in certain areas of the State
of South Dakota resulting from flooding during the period of April 9
to May 5, 2023, is of sufficient severity and magnitude to warrant a
major disaster declaration under the Robert T. Stafford Disaster
Relief and Emergency Assistance Act, 42 U.S.C. 5121 et seq. (the
``Stafford Act''). Therefore, I declare that such a major disaster
exists in the State of South Dakota.
    In order to provide Federal assistance, you are hereby
authorized to allocate from funds available for these purposes such
amounts as you find necessary for Federal disaster assistance and
administrative expenses.
    You are authorized to provide Public Assistance in the
designated areas and Hazard Mitigation throughout the State.
Consistent with the requirement that Federal assistance be
supplemental, any Federal funds provided under the Stafford Act for
Public Assistance and Hazard Mitigation will be limited to 75
percent of the total eligible costs.
    Further, you are authorized to make changes to this declaration
for the approved assistance to the extent allowable under the
Stafford Act.

    The Federal Emergency Management Agency (FEMA) hereby gives notice
that pursuant to the authority vested in the Administrator, under
Executive Order 12148, as amended, Kenneth G. Clark, of FEMA is
appointed to act as the Federal Coordinating Officer for this major
disaster.
    The following areas of the State of South Dakota have been
designated as adversely affected by this major disaster:

    Brown, Clark, Codington, Day, Faulk, Grant, Hand, Marshall,
Potter, and Roberts Counties and the Sisseton-Wahpeton Oyate of the
Lake Traverse Reservation for Public Assistance.
    All areas within the State of South Dakota are eligible for
assistance under the Hazard Mitigation Grant Program.
    The following Catalog of Federal Domestic Assistance Numbers
(CFDA) are to be used for reporting and drawing funds: 97.030,
Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis
Counseling; 97.033, Disaster Legal Services; 97.034, Disaster
Unemployment Assistance (DUA); 97.046, Fire Management Assistance
Grant; 97.048, Disaster Housing Assistance to Individuals and
Households In Presidentially Declared Disaster Areas; 97.049,
Presidentially Declared Disaster Assistance--Disaster Housing
Operations for Individuals and Households; 97.050, Presidentially
Declared Disaster Assistance to Individuals and Households--Other
Needs; 97.036, Disaster Grants--Public Assistance (Presidentially
Declared Disasters); 97.039, Hazard Mitigation Grant.

Deanne Criswell,
Administrator, Federal Emergency Management Agency.
[FR Doc. 2023-16359 Filed 8-1-23; 8:45 am]
BILLING CODE 9111-23-P


[Federal Register Volume 88, Number 189 (Monday, October 2, 2023)]
[Notices]
[Pages 67830-67834]
[FR Doc No: 2023-21626]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98534; File No. SR-MIAX-2023-36]

Self-Regulatory Organizations: Miami International Securities
Exchange LLC; Notice of Filing of a Proposed Rule Change To Amend
Exchange Rule 404, Series of Option Contracts Open for Trading

September 26, 2023.
    Pursuant to the provisions of Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice
is hereby given that on September 14, 2023, Miami International
Securities Exchange LLC (``MIAX'' or ``Exchange'') filed with the
Securities and Exchange Commission (``Commission'') a proposed rule
change as described in Items I, II, and III below, which Items have
been prepared by the Exchange. The Commission is publishing this notice
to solicit comments on the proposed rule change from interested
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange is filing a proposal to amend Exchange Rule 404,
Series of Option Contracts Open for Trading.
    The text of the proposed rule change is available on the Exchange's
website at http://www.miaxoptions.com/rule-filings, at MIAX's principal
office, and at the Commission's Public Reference Room.

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

    In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.

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

1. Purpose
    The Exchange proposes to amend Rule 404, Series of Option Contracts
Open for Trading. Specifically, the Exchange proposes to adopt new
Interpretations and Policies .12 to Rule 404 to implement a new strike
interval program for stocks that are priced less than $2.50 and have an
average daily trading volume of at least 1,000,000 shares per day for
the three (3) preceding calendar months. The Exchange also proposes to
amend the table in Interpretations and Policies .11 of Rule 404 to
harmonize the table to the propose change.
Background
    Currently, Exchange Rule 404, Series of Option Contracts Open for
Trading, describes the process and procedures for listing and trading
series of options \3\ on the Exchange. Rule 404 provides for a $2.50
Strike Price Program, where the Exchange may select up to 60 option
classes \4\ on individual stocks for which the interval of strike
prices will be $2.50 where the strike price is greater than $25.00 but
less than $50.00.\5\ Rule 404 also provides for a $1 Strike Price
Interval Program, where the interval between strike prices of series of
options \6\ on individual stocks may be $1.00 or greater provided the
strike price is $50.00 or less, but not less than $1.00.\7\
Additionally, Rule 404 provides for a $0.50 Strike Program.\8\ The
interval of strike prices of series of options on individual stocks may
be $0.50 or greater beginning at $0.50 where the strike price is $5.50
or less, but only for options classes whose underlying security closed
at or below $5.00 in its primary market on the previous trading day and
which have national average daily volume that equals or exceeds 1,000
contracts per day as determined by The Options Clearing Corporation
during the preceding three calendar months. The listing of $0.50 strike
prices is limited to options classes overlying no more than 20
individual stocks (the ``$0.50 Strike Program'') as specifically
designated by the Exchange. The Exchange may list $0.50 strike prices
on any other option classes if those classes are specifically
designated by other securities exchanges that employ a similar $0.50
Strike Program under their respective rules. A stock shall remain in
the $0.50 Strike Program until otherwise designated by the Exchange.\9\
---------------------------------------------------------------------------

    \3\ The term ``option contract'' means a put or a call issued,
or subject to issuance, by the Clearing Corporation pursuant to the
Rules of the Clearing Corporation. See Exchange Rule 100.
    \4\ The terms ``class of options'' or ``option class'' means all
option contracts covering the same underlying security. See Exchange
Rule 100.
    \5\ See Exchange Rule 404(f).
    \6\ The term ``series of options'' means all option contracts of
the same class having the same exercise price and expiration date.
See Exchange Rule 100.
    \7\ See Interpretations and Policies .01(a) of Rule 404.
    \8\ See Interpretations and Policies .04 of Rule 404.
    \9\ Id.
---------------------------------------------------------------------------

Proposal
    At this time, the Exchange proposes to adopt a new strike interval
program for underlying stocks that are not in the aforementioned $0.50
Strike Program (or the Short Term Option Series Program) \10\ and that
close below $2.50 and have an average daily trading volume of at least
1,000,000 shares per day for the three (3) preceding calendar months.
The $0.50 Strike Program considers stocks that have a closing price at
or below $5.00 whereas the Exchange's proposal will consider stocks
that have a closing price below $2.50. Currently, there is a subset of
stocks that are not included in the $0.50 Strike Program as a result of
the limitations of that program which provides that the listing of
$0.50 strike prices shall be limited to option classes overlying no
more than 20 individual stocks as specifically designated by the
Exchange and requires a national average daily volume that equals or
exceeds 1,000 contracts per day as determined by The Options Clearing
Corporation during the preceding three calendar months.\11\ Therefore,
the Exchange is proposing to implement a new strike interval program
termed the ``Low Priced Stock Strike Price Interval Program.''
---------------------------------------------------------------------------

    \10\ See Interpretations and Policies .02 of Rule 404.
    \11\ See Interpretations and Policies .04 of Rule 404.

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

    To be eligible for the inclusion in the Low Priced Stock Strike
Price Interval Program, an underlying stock must (i) close below $2.50
in its primary market on the previous trading day; and (ii) have an
average daily trading volume of at least 1,000,000 shares per day for
the three (3) preceding calendar months. The Exchange notes that there
is no limit to the number of classes that will be eligible for
inclusion in the proposed program, provided, of course, that the
underlying stocks satisfy both the price and average daily trading
volume requirements of the proposed program.
    The Exchange also proposes that after a stock is added to the Low
Priced Stock Strike Price Interval Program, the Exchange may list $0.50
strike price intervals from $0.50 up to $2.00.\12\ For the purpose of
adding strikes under the Low Priced Stock Strike Price Interval
Program, the ``price of the underlying stock'' shall be measured in the
same way as ``the price of the underlying security'' as set forth in
Rule 404A(b)(1).\13\ Further, no additional series in $0.50 intervals
may be listed if the underlying stock closes at or above $2.50 in its
primary market. Additional series in $0.50 intervals may not be added
until the underlying stock again closes below $2.50.
---------------------------------------------------------------------------

    \12\ While the Exchange may list new strikes on underlying
stocks that meet the eligibility requirements of the new program the
Exchange will exercise its discretion and will not list strikes on
underlying stocks the Exchange believes are subject to imminent
delisting from their primary exchange.
    \13\ The Exchange notes this is the same methodology used in the
$1 Strike Price Interval Program. See Interpretations and Policies
.01(c)(3) of Rule 404.
---------------------------------------------------------------------------

    The Exchange's proposal addresses a gap in strike coverage for low
priced stocks. The $0.50 Strike Program considers stocks that close
below $5.00 and limits the number of option classes listed to no more
than 20 individual stocks (provided that the open interest criteria is
also satisfied). Whereas, the Exchange's proposal has a narrower focus,
with respect to the underlying's stock price, and is targeted to those
stocks that close below $2.50 and does not limit the number of stocks
that may participate in the program (provided that the average daily
trading volume is also satisfied). The Exchange does not believe that
any market disruptions will be encountered with the addition of these
new strikes. The Exchange represents that it has the necessary capacity
and surveillance programs in place to support and properly monitor
trading in the proposed Low Priced Stock Strike Price Interval Program.
    The Exchange believes that its average daily trading volume
requirement of 1,000,000 shares is a reasonable threshold to ensure
adequate liquidity in eligible underlying stocks as it is substantially
greater than the thresholds used for listing options on equities,
American Depository Receipts, and broad-based indexes. Specifically,
underlying securities with respect to which put or call option
contracts are approved for listing and trading on the Exchange must
meet certain criteria as determined by the Exchange. One of those
requirements is that trading volume (in all markets in which the
underlying security is traded) has been at least 2,400,000 shares in
the preceding twelve (12) months.\14\ Rule 402(f) provides the criteria
for listing options on American Depositary Receipts (``ADRs'') if they
meet certain criteria and guidelines set forth in Exchange Rule 402.
One of the requirements is that the average daily trading volume for
the security in the U.S. markets over the three (3) months preceding
the selection of the ADR for options trading is 100,000 or more
shares.\15\ Finally, the Exchange may trade options on a broad-based
index pursuant to Rule 19b-4(e) of the Securities Exchange Act of 1934
provided a number of conditions are satisfied. One of those conditions
is that each component security that accounts for at least one percent
(1%) of the weight of the index has an average daily trading volume of
at least 90,000 shares during the last six month period.\16\
---------------------------------------------------------------------------

    \14\ See Exchange Rule 402(b)(4).
    \15\ See Exchange Rule 402(f)(3)(ii).
    \16\ See Exchange Rule 1802(d)(7).
---------------------------------------------------------------------------

    Additionally, the Exchange proposes to amend the table in
Interpretations and Policies .11 of Rule 404 to insert a new column to
harmonize the Exchange's proposal to the strike intervals for Short
Term Options Series as described in Interpretations and Policies .02 of
Rule 404. The table in Interpretations and Policies .11 is intended to
limit the intervals between strikes for multiply listed equity options
within the Short Term Options Series program that have an expiration
date more than twenty-one days from the listing date. Specifically, the
table defines the applicable strike intervals for options on underlying
stocks given the closing price on the primary market on the last day of
the calendar quarter, and a corresponding average daily volume of the
total number of options contracts traded in a given security for the
applicable calendar quarter divided by the number of trading days in
the applicable calendar quarter.\17\ However, the lowest share price
column is titled ``Less than $25.'' The Exchange now proposes to insert
a column titled ``Less than $2.50'' and to set the strike interval at
$0.50 for each average daily volume tier represented in the table.
Also, the Exchange proposes to amend the heading of the column
currently titled ``Less than $25,'' to ``$2.50 to less than $25'' as a
result of the adoption of the new proposed column, ``Less than $2.50.''
The Exchange believes this change will remove any potential conflict
between the strike intervals under the Short Term Options Series
Program and those described herein under the Exchange's proposal.
---------------------------------------------------------------------------

    \17\ See Securities Exchange Release Act No. 91125 (February 21,
2021), 86 FR 10375 (February 19, 2021) (SR-BX-2020-032) (Order
Granting Accelerated Approval of a Proposed Rule Change, as Modified
by Amendment No. 1, To Amend Options 4, Section 5, To Limit Short
Term Options Series Intervals Between Strikes That Are Available for
Quoting and Trading on BX).
---------------------------------------------------------------------------

Impact of Proposal
    The Exchange recognizes that its proposal will introduce new
strikes in the marketplace and further acknowledges that there has been
significant effort undertaken by the industry to curb strike
proliferation. This initiative has been spearheaded by the Nasdaq BX
who filed an initial proposal focused on the removal, and prevention of
the listing, of strikes which are extraneous and do not add value to
the marketplace (the ``Strike Interval Proposal'').\18\ The Strike
Interval Proposal was intended to remove repetitive and unnecessary
strike listings across the weekly expiries. Specifically, the Strike
Interval Proposal aimed to reduce the density of strike intervals that
would be listed in the later weeks, by creating limitations for
intervals between strikes which have an expiration date more than
twenty-one days from the listing date.\19\ The Strike Interval Proposal
took into account OCC customer-cleared volume, using it as an
appropriate proxy for demand. The Strike Interval Proposal was designed
to maintain strikes where there was customer demand and eliminate
strikes where there wasn't. At the time of its proposal Nasdaq BX
estimated that the Strike Interval Proposal would reduce the number of
strikes it listed by 81,000.\20\ The

Exchange proposes to amend the table to define the strike interval at
$0.50 for underlying stocks with a share price of less than $2.50. The
Exchange believes this amendment will harmonize the Exchange's proposal
with the Strike Interval Proposal described above.
---------------------------------------------------------------------------

    \18\ See Securities Exchange Act No. 91225 (February 12, 2021),
86 FR 10375 (February 12, 2021) (SR-BX-2020-032) (BX Strike Approval
Order); see also BX Options Strike Proliferation Proposal (February
25, 2021) available at: https://www.nasdaq.com/solutions/bx-options-strike-proliferation-proposal).
    \19\ See Securities Exchange Act No. 91225 (February 12, 2021),
86 FR 10375 (February 12, 2021) (SR-BX-2020-032).
    \20\ See id.
---------------------------------------------------------------------------

    The Exchange recognizes that its proposal will moderately increase
the total number of option series available on the Exchange. However,
the Exchange's proposal is designed to only add strikes where there is
investor demand \21\ which will improve market quality. Under the
requirements for the Low Priced Stock Strike Price Interval Program as
described herein, the Exchange determined that as of August 9, 2023,
106 symbols met the proposed criteria. Of those symbols 36 are
currently in the $1 Strike Price Interval Program with $1.00 and $2.00
strikes listed. Under the Exchange's proposal the Exchange would add
the $0.50 and $1.50 strikes for these symbols for the current
expiration terms. The remaining 70 symbols eligible under the
Exchange's proposal would have $0.50, $1.00, $1.50 and $2.00 strikes
added to their current expiration terms. Therefore, for the 106 symbols
eligible for the Low Priced Stock Strike Price Interval Program a total
of approximately 3,250 options would be added. As of August 9, 2023,
the Exchange listed 1,106,550 options, therefore the additional options
that would be listed under this proposal would represent a very minor
increase of 0.294% in the number of options listed on the Exchange.
---------------------------------------------------------------------------

    \21\ See proposed Interpretations and Policies .12(a) of Rule
404 which requires that an underlying stock have an average daily
trading volume of 1,000,000 shares for the three (3) preceding
months to be eligible for inclusion in the Low Priced Stock Strike
Price Interval Program.
---------------------------------------------------------------------------

    The Exchange does not believe that its proposal contravenes the
industry's efforts to curtail unnecessary strikes. The Exchange's
proposal is targeted to only underlying stocks that close at less than
$2.50 and that also meet the average daily trading volume requirement.
Additionally, because the strike increment is $0.50 there are only a
total of four strikes that may be listed under the program ($0.50,
$1.00, $1.50, and $2.00) for an eligible underlying stock. Finally, if
an eligible underlying stock is in another program (e.g., the $0.50
Strike Program or the $1 Strike Price Interval Program) the number of
strikes that may be added is further reduced if there are pre-existing
strikes as part of another strike listing program. Therefore, the
Exchange does not believe that it will list any unnecessary or
repetitive strikes as part of its program, and that the strikes that
will be listed will improve market quality and satisfy investor demand.
    The Exchange further believes that the Options Price Reporting
Authority (``OPRA''), has the necessary systems capacity to handle any
additional messaging traffic associated with this proposed rule change.
The Exchange also believes that Members \22\ will not have a capacity
issue as a result of the proposed rule change. Finally, the Exchange
believes that the additional options will serve to increase liquidity,
provide additional trading and hedging opportunities for all market
participants, and improve market quality.
---------------------------------------------------------------------------

    \22\ The term ``Member'' means an individual or organization
approved to exercise the trading rights associated with a Trading
Permit. Members are deemed ``members'' under the Exchange Act. See
Exchange Rule 100.
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that its proposed rule change is consistent
with the Act and the rules and regulations thereunder applicable to the
Exchange and, in particular, the requirements of Section 6(b) of the
Act,\23\ 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
regulating, clearing, settling, processing information with respect to,
and facilitating transactions in, securities, to remove impediments to
and perfect the mechanisms of a free and open market and a national
market system and, in general, to protect investors and the public
interest. Additionally, the Exchange believes the proposed rule change
is consistent with the Section (6)(b)(5) \24\ requirement that the
rules of an exchange not be designed to permit unfair discrimination
between customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------

    \23\ 15 U.S.C. 78f(b).
    \24\ 15 U.S.C. 78(f)(b)(5).
---------------------------------------------------------------------------

    The Exchange believes its proposal promotes just and equitable
principles of trade and removes impediments to and perfects the
mechanisms of a free and open market and a national market system as
the Exchange has identified a subset of stocks that are trading under
$2.50 and do not have meaningful strikes available. For example, on
August 9, 2023, symbol SOND closed at $0.50 and had open interest of
over 44,000 contracts and an average daily trading volume in the
underlying stock of over 1,900,000 shares for the three preceding
calendar months.\25\ Currently the lowest strike listed is for $2.50,
making the lowest strike 400% away from the closing stock price.
Another symbol, CTXR, closed at $0.92 on August 9, 2023, and had open
interest of over 63,000 contracts and an average daily trading volume
in the underlying stock of over 1,900,000 shares for the three
preceding calendar months.\26\ Similarly, the lowest strike listed is
for $2.50, making the lowest strike more than 170% away from the
closing stock price. Currently, such products have no at-the-money
options, as well as no in-the-money calls or out-of-the-money puts. The
Exchange's proposal will provide additional strikes in $0.50 increments
from $0.50 up to $2.00 to provide more meaningful trading and hedging
opportunities for this subset of stocks. Given the increased
granularity of strikes as proposed under the Exchange's proposal out-
of-the-money puts and in-the-money calls will be created. The Exchange
believes this will allow market participants to tailor their investment
and hedging needs more effectively.
---------------------------------------------------------------------------

    \25\ See Yahoo! Finance, https://finance.yahoo.com/quote/SOND/history?p=SOND (last visited August 10, 2023).
    \26\ See Yahoo! Finance, https://finance.yahoo.com/quote/CTXR/history?p=CTXR (last visited August 10, 2023).
---------------------------------------------------------------------------

    The Exchange believes its proposal promotes just and equitable
principles of trade and removes impediments to and perfects the
mechanisms of a free and open market and a national market system and,
in general, protects investors and the public interest by adding
strikes that improves market quality and satisfies investor demand. The
Exchange does not believe that the number of strikes that will be added
under the program will negatively impact the market. Additionally, the
proposal does not run counter to the efforts undertaken by the industry
to curb strike proliferation as that effort focused on the removal and
prevention of extraneous strikes where there was no investor demand.
The Exchange's proposal requires the satisfaction of an average daily
trading volume threshold in addition to the underlying stock closing at
a price below $2.50 to be eligible for the program. The Exchange
believes that the average daily trading volume threshold of the program
ensures that only strikes with investor demand will be listed and fills
a gap in strike interval coverage as described above. Further, being
that the strike interval is $0.50, there are only a maximum of four
strikes that may be added ($0.50, $1.00, $1.50, and $2.00). Therefore,
the Exchange does not

believe that its proposal will undermine the industry's efforts to
eliminate repetitive and unnecessary strikes in any fashion.
    The Exchange believes that its average daily trading volume
threshold promotes just and equitable principles of trade and removes
impediments to and perfects the mechanisms of a free and open market
and a national market system and, in general, protects investors and
the public interest as it is designed to permit only those stocks with
demonstrably high levels of trading activity to participate in the
program. The Exchange notes that its average daily trading volume
requirement is substantially greater that the average daily trading
requirement currently in place on the Exchange for options on equity
underlyings,\27\ ADRs,\28\ and broad-based indexes.\29\
---------------------------------------------------------------------------

    \27\ See supra note 14.
    \28\ See supra note 15.
    \29\ See supra note 16.
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change is consistent
with Section 6(b)(1) of the Act, which provides that the Exchange be
organized and have the capacity to be able to carry out the purposes of
the Act and the rules and regulations thereunder, and the rules of the
Exchange. The proposed rule change allows the Exchange to respond to
customer demand to provide meaningful strikes for low priced stocks.
The Exchange does not believe that the proposed rule would create any
capacity issue or negatively affect market functionality. Additionally,
the Exchange represents that it has the necessary systems capacity to
support the new options series and handle additional messaging traffic
associated with this proposed rule change. The Exchange also believes
that its Members will not experience any capacity issues as a result of
this proposal. In addition, the Exchange represents that it believes
that additional strikes for low priced stocks will serve to increase
liquidity available as well and improve price efficiency by providing
more trading opportunities for all market participants. The Exchange
believes that the proposed rule change will benefit investors by giving
them increased opportunities to execute their investment and hedging
decisions.
    Finally, the Exchange believes its proposal is designed to prevent
fraudulent and manipulative acts and practices as options may only be
listed on underlyings that satisfy the listing requirements of the
Exchange as described in Exchange Rule 402, Criteria for Underlying
Securities. Specifically, Rule 402 requires that underlying securities
for which put or call option contracts are approved for listing and
trading on the Exchange must meet the following criteria: (1) the
security must be registered and be an ``NMS stock'' as defined in Rule
600 of Regulation NMS under the Exchange Act; (2) the security shall be
characterized by a substantial number of outstanding shares that are
widely held and actively traded.\30\ Additionally, Rule 402 provides
that absent exceptional circumstances, an underlying security will not
be selected for options transactions unless: (1) there are a minimum of
seven (7) million shares of the underlying security which are owned by
persons other than those required to report their stock holdings under
Section 16(a) of the Exchange Act; (2) there are a minimum of 2,000
holders of the underlying security; (3) the issuer is in compliance
with any applicable requirements of the Exchange Act; and (4) trading
volume (in all markets in which the underlying security is traded) has
been at least 2,400,000 shares in the preceding twelve (12) months.\31\
The Exchange's proposal does not impact the eligibility of an
underlying stock to have options listed on it, but rather addresses
only the listing of new additional option classes on an underlying
listed on the Exchange in accordance to the Exchange's listings rules.
As such, the Exchange believes that the listing requirements described
in Exchange Rule 402 address potential concerns regarding possible
manipulation. Additionally, in conjunction with the proposed Average
Daily Volume requirement described herein, the Exchange believes any
possible market manipulation is further mitigated.
---------------------------------------------------------------------------

    \30\ See Exchange Rule 402(a)(1) and (2).
    \31\ See Exchange Rule 402(b)(1),(2),(3) and (4).
---------------------------------------------------------------------------

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

    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 (https://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
file number SR-MIAX-2023-36 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-MIAX-2023-36. 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 (https://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
a.m. and 3 p.m. Copies of the filing also will be available for
inspection and copying at the principal office of the Exchange. Do not
include personal identifiable information in submissions; you should
submit only information that you wish to make available publicly. We
may redact in part or withhold entirely from publication submitted
material that is obscene or subject to copyright protection. All
submissions should refer to file number SR-MIAX-2023-36 and should be
submitted on or before October 23, 2023.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\32\
---------------------------------------------------------------------------

    \32\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-21626 Filed 9-29-23; 8:45 am]
BILLING CODE 8011-01-P


51773 Federal Register / Vol. 68, No. 167 / Thursday, August 28, 2003 / Notices Company; Northern Indiana Public Service Company; Virginia Electric and Power Company; Dayton Power and Light Company; American Electric Power Service Corporation; Midwest Independent System Operator et al.; Pennsylvania New Jersey Maryland Interconnection; Atlantic City Electric Company, et al.; Pennsylvania Electric Company, et al.; Pennsylvania Electric Company, et al.; Pennsylvania New Jersey Maryland Interconnection Restructuring; PJM Interconnection, L. L. C.; Atlantic City Electric Company, et al.; PECO Energy Company. As announced in the Notice of Technical Conference issued on August 7, 2003, a technical conference will be held on August 28, 2003, to discuss with states and market participants in the PJM region the timetables for addressing wholesale power market design issues and to explore ways to provide flexibility the region may need to meet the requirements of the final rule in this proceeding. Members of the Commission will attend and participate in the discussion. The conference will focus on the issues identified in the agenda, which is appended to this notice as Attachment A. However, participants/ stakeholders may present their views on other important issues that relate to the development of the Wholesale Power Market Platform. The conference will begin at 1 p. m. Eastern Time and will adjourn at about 5 p. m. Eastern Time at the Wyndham Hotel, 700 King Street, Wilmington, Delaware. The conference is open for the public to attend, and registration is not required; however, in person attendees are asked to register for the conference on line at http:// www. ferc. gov / whats new/ registration/ smd_ 0828 form. asp. This technical conference will immediately follow a meeting of the PJM Members Committee, which will be held that morning at the same location. PJM offers a web broadcast of its meeting through the PJM Web site and will also broadcast the FERC technical conference. To access the web broadcast, go to http:// www. pjm. com/ committees/ members/ members. html. To access the broadcast window directly, go to http:// events01. activate. net/ pmtv/ pjm/ 10064/. Transcripts of the conference will be immediately available from Ace Reporting Company ( 202   347   3700 or 1   800   336   6646) for a fee. They will be available for the public on the Commission's eLibrary ( FERRIS) seven calendar days after FERC receives the transcript. Additionally, Capitol Connection offers the opportunity to remotely listen to the conference via the Internet or a Phone Bridge Connection for a fee. Interested persons should make arrangements as soon as possible by visiting the Capitol Connection Web site at http:// www. capitolconnection. gmu. edu and clicking on `` FERC.'' If you have any questions contact David Reininger or Julia Morelli at the Capitol Connection ( 703   993   3100). For more information about the conference, please contact Sarah McKinley at ( 202) 502   8004 or sarah. mckinley@ ferc. gov.

Magalie R. Salas, Secretary.

Appendix A Agenda 1   1: 20 p. m. Opening Remarks. Pat Wood, III, Chairman, Federal Energy Regulatory Commission Gail C. McDonald, Commissioner, Maryland Public Service Commission David W. Hadley, Commissioner, Indiana Utility Regulatory Commission 1: 20   1: 45 p. m.   PJM's Compliance with the White Paper Phil Harris, CEO, PJM Interconnection 1: 45   2: 30 p. m.   State Commission Input Glen R. Thomas, Commissioner, Pennsylvania Public Utility Commission Frederick F. Butler, Commissioner, New Jersey Board of Public Utilities Arnetta McRae, Chair, Delaware Public Service Commission Kevin K. Wright, Chairman, Illinois Commerce Commission 2: 30   3: 15 p. m.   Stakeholder Presentations Generator Sector Bruce Bleiweis, Director, Asset Commercialization, Reliant Energy Services, Inc. Transmission Sector Ralph Bourquin, Executive Director, Transmission, Baltimore Gas & Electric Company Other Supplier Sector ( split time) Ronald Matlock, Manager of Regulatory Affairs Duke Energy Trading & Marketing, L. L. C. To be named Electric Distributor Sector Patrick McCullar, President & CEO Delaware Municipal Electric Cooperative End Use Sector David Kleppinger, Counsel, McNees Wallace & Nurick, L. L. C. 3: 15   3: 30 p. m.   Break 3: 30   5 p. m.   State Commissioner/ FERC/ Industry Dialogue and Summary of Next Steps ( All attending State Commissioners, stakeholder representatives, FERC Commissioners) [ FR Doc. 03   22009 Filed 8   27   03; 8: 45 am,

BILLING CODE 6717   01   P ENVIRONMENTAL PROTECTION AGENCY [ RCRA   2003   0020, FRL   7550   5]

Agency Information Collection Activities: Proposed Collection; Comment Request; Land Disposal Restrictions   Base ICR, EPA ICR Number 1442.18, OMB Control Number 2050   0085 AGENCY: Environmental Protection Agency ( EPA). ACTION: Notice.

SUMMARY: In compliance with the Paperwork Reduction Act ( 44 U. S. C. 3501 et seq.), this document announces that EPA is planning to submit a continuing Information Collection Request ( ICR) to the Office of Management and Budget ( OMB). This is a request to renew an existing approved collection. This ICR is scheduled to expire on February 29, 2004. Before submitting the ICR to OMB for review and approval, EPA is soliciting comments on specific aspects of the proposed information collection as described below. DATES: Comments must be submitted on or before October 27, 2003. ADDRESSES: Submit your comments, referencing docket ID number RCRA   2003   0020, to EPA online using EDOCKET ( our preferred method), by email to rcra docket@ epamail. epa. gov, or by mail to: EPA Docket Center, Environmental Protection Agency, RCRA Docket Information Center, 5303T, 1200 Pennsylvania Ave., NW., Washington, DC 20460. FOR FURTHER INFORMATION CONTACT: Peggy Vyas, Office of Solid Waste, 5302W, Environmental Protection Agency, 1200 Pennsylvania Ave., NW., Washington, DC 20460; telephone number: ( 703) 308   5477, fax number: ( 703) 308   8433, email address: vyas. peggy@ epa. gov.

SUPPLEMENTARY INFORMATION: EPA has established a public docket for this ICR under Docket ID number RCRA   2003   0020, which is available for public viewing at the RCRA Docket in the EPA Docket Center ( EPA/ DC), EPA West, Room B102, 1301 Constitution Ave., NW., Washington, DC. The EPA Docket Center Public Reading Room is open from 8: 30 a. m. to 4: 30 p. m., Monday through Friday, excluding legal holidays. The telephone number for the Reading Room is ( 202) 566   1744, and the telephone number for the RCRA Docket is ( 202) 566   0270. An electronic version of the public docket is available through EPA Dockets ( EDOCKET) at http:// www. epa. gov/ edocket. Use VerDate jul< 14> 2003 15: 48 Aug 27, 2003 Jkt 200001 PO 00000 Frm 00010 Fmt 4703 Sfmt 4703 E:\ FR\ FM\ 28AUN1. SGM 28AUN1 51774 Federal Register / Vol. 68, No. 167 / Thursday, August 28, 2003 / Notices EDOCKET to obtain a copy of the draft collection of information, submit or view public comments, access the index listing of the contents of the public docket, and to access those documents in the public docket that are available electronically. Once in the system, select `` search,'' then key in the docket ID number identified above. Any comments related to this ICR should be submitted to EPA within 60 days of this notice. EPA's policy is that public comments, whether submitted electronically or in paper, will be made available for public viewing in EDOCKET as EPA receives them and without change, unless the comment contains copyrighted material, CBI, or other information whose public disclosure is restricted by statute. When EPA identifies a comment containing copyrighted material, EPA will provide a reference to that material in the version of the comment that is placed in EDOCKET. The entire printed comment, including the copyrighted material, will be available in the public docket. Although identified as an item in the official docket, information claimed as CBI, or whose disclosure is otherwise restricted by statute, is not included in the official public docket, and will not be available for public viewing in EDOCKET. For further information about the electronic docket, see EPA's Federal Register notice describing the electronic docket at 67 FR 38102 ( May 31, 2002), or go to http:// www. epa. gov./ edocket. Affected entities: Entities potentially affected by this action are business and government. Title: Land Disposal Restrictions   Base ICR. Abstract: Section 3004 of the Resource Conservation and Recovery Act ( RCRA), as amended, requires that EPA develop standards for hazardous waste treatment, storage, and disposal as may be necessary to protect human health and the environment. Subsections 3004( d), ( e), and ( g) require EPA to promulgate regulations that prohibit the land disposal of hazardous waste unless it meets specified treatment standards described in subsection 3004( m). The regulations implementing these requirements are codified in the Code of Federal Regulations ( CFR) Title 40, part 268. EPA requires that facilities maintain the data outlined in this ICR so that the Agency can ensure that land disposed waste meets the treatment standards. EPA strongly believes that the recordkeeping requirements are necessary for the agency to fulfill its congressional mandate to protect human health and the environment. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. The OMB control numbers for EPA's regulations are listed in 40 CFR part 9 and 48 CFR chapter 15. The EPA would like to solicit comments to: ( i) Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the Agency, including whether the information will have practical utility; ( ii) Evaluate 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; ( iii) Enhance the quality, utility, and clarity of the information to be collected; and ( iv) Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated electronic, mechanical, or other technological collection techniques or other forms of information technology, e. g., permitting electronic submission of responses. Burden Statement:   Average Annual Reporting Burden: 1,182,708 hours.   Estimated Average Burden Hours Per Response: 4.28 hours.   Proposed Frequency of Response: on occasion.   Estimated Number of Likely Respondents: 167,353.   Capital and Start up Cost: $ 1,627,000.   Operation and Maintenance: $ 71,224,000. Burden means the total time, effort, or financial resources expended by persons to generate, maintain, retain, or disclose or provide information to or for a Federal agency. This includes the time needed to review instructions; develop, acquire, install, and utilize technology and systems for the purposes of collecting, validating, and verifying information, processing and maintaining information, and disclosing and providing information; adjust the existing ways to comply with any previously applicable instructions and requirements; train personnel to be able to respond to a collection of information; search data sources; complete and review the collection of information; and transmit or otherwise disclose the information.

Dated: August 18, 2003. Robert Springer, Director, Office of Solid Waste. [ FR Doc. 03   22055 Filed 8   27   03; 8: 45 am]

BILLING CODE 6560   50   P ENVIRONMENTAL PROTECTION AGENCY [ FRL   7550   1]

First Draft Staff Paper for Particulate Matter AGENCY: Environmental Protection Agency ( EPA). ACTION: Notice of a draft for public review and comment.

SUMMARY: On or about August 29, 2003, the Office of Air Quality Planning and Standards ( OAQPS) within EPA's Office of Air and Radiation will make available for public review and comment a draft document, Review of the National Ambient Air Quality Standards for Particulate Matter: Policy Assessment of Scientific and Technical Information ( First Draft Staff Paper). The purpose of the Staff Paper is to evaluate the policy implications of the key scientific and technical information contained in a related EPA document, Air Quality Criteria for Particulate Matter, required under sections 108 and 109 of the Clean Air Act ( CAA) for use in the periodic review of the national ambient air quality standards ( NAAQS) for particulate matter ( PM). The OAQPS also will make available for public review and comment a related document, Particulate Matter Health Risk Assessment for Selected Urban Areas ( Draft Risk Assessment). DATES: Comments on the first draft Staff Paper and draft Risk Assessment should be submitted on or before October 28, 2003.

ADDRESSES: For information on how to submit comments, see SUPPLEMENTARY INFORMATION, Section C.

Availability of Documents for Review For information on obtaining copies of the draft documents now being made available for review, see SUPPLEMENTARY INFORMATION, Section B. FOR FURTHER INFORMATION CONTACT: Dr. Mary Ross, Office of Air Quality Planning and Standards ( mail code C539   01), U. S. Environmental Protection Agency, Research Triangle Park, NC 27711; e mail: ross. mary@ epa. gov; telephone: ( 919) 541   5170; fax ( 919) 541   0237. SUPPLEMENTARY INFORMATION:

A. General Information The EPA is currently reviewing the NAAQS for PM. Sections 108 and 109 of the CAA require that EPA carry out a periodic review and revision, where appropriate, of the scientific criteria and the NAAQS for `` criteria'' air pollutants such as PM. Details of EPA's plans for VerDate jul< 14> 2003 15: 48 Aug 27, 2003 Jkt 200001 PO 00000 Frm 00011 Fmt 4703 Sfmt 4703 E:\ FR\ FM\ 28AUN1. SGM 28AUN1