[Federal Register Volume 87, Number 26 (Tuesday, February 8, 2022)]
[Notices]
[Pages 7217-7223]
[FR Doc No: 2022-02551]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94135; File No. SR-MIAX-2022-06]

Self-Regulatory Organizations; Miami International Securities
Exchange, LLC; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Amend Exchange Rule 531 To Provide for the New
Liquidity Taker Event Report--Complex Orders

    February 2, 2022.
    Pursuant to 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 January 28, 2022, Miami International Securities Exchange, LLC
(``MIAX Options'' or ``Exchange'') filed with the Securities and
Exchange Commission (``Commission'') a proposed rule change as
described in Items I and II 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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

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 531(b) to
provide for the new ``Liquidity Taker Event Report--Complex Orders''.
    The text of the proposed rule change is available on the Exchange's
website at http://www.miaxoptions.com/rule-filings/ at MIAX Options'
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 currently offers the Liquidity Taker Event Report,
which is a Member \3\-specific report and helps Members to better
understand by how much time a particular order missed executing against
a specific order resting on the Exchange's Simple Order Book.\4\ The
current Liquidity Taker Event Report is described under Exchange Rule
531(a).\5\
---------------------------------------------------------------------------

    \3\ 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.
    \4\ The term ``Simple Order Book'' means ``the Exchange's
regular electronic book of orders and quotes.'' See Exchange Rule
518(a)(15).
    \5\ See Securities Exchange Act Release No. 92081 (June 1,
2021), 86 FR 30344 (June 7, 2021) (SR-MIAX-2021-21) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change to
Amend Rule 531, Reports and Market Data Products, to Adopt the
Liquidity Taker Event Report).
---------------------------------------------------------------------------

    The Exchange now proposes to amend Exchange Rule 531(b) \6\ to
provide for the new ``Liquidity Taker Event Report--Complex Orders''
(the ``Complex Order Report'') which would be substantially similar to
the existing Liquidity Taker Event Report, but would include data
concerning a Member's Complex Orders.\7\ The Exchange also proposes to
change the name of the existing Liquidity Taker Event Report to
``Liquidity Taker Event Report--Simple Orders'' and amend Exchange Rule
531(a) accordingly (the ``Liquidity Taker Event Report--Simple Orders''
shall be referred to herein as the ``Simple Order Report'').
---------------------------------------------------------------------------

    \6\ Currently, Exchange Rule 531(b) is titled ``Market Data
Products'' and provides the rule text for the Open-Close Report. See
Exchange Rule 531(b). With this filing, the Exchange also proposes
to move the rule text for Market Data Products to now be renumbered
as Exchange Rule 531(c). The Exchange does not propose to amend any
of the rule text for Market Data Products as currently stated in
Exchange Rule 531.
    \7\ In sum, a ``Complex Order'' is ``any order involving the
concurrent purchase and/or sale of two or more different options in
the same underlying security (the `legs' or `components' of the
complex order), for the same account . . . .'' See Exchange Rule
518(a)(5).
---------------------------------------------------------------------------

    The Simple Order Report includes information about incoming orders
seeking to remove resting orders from the Simple Order Book. The
proposed Complex Order Report would include the same information about
incoming Complex Orders that seek to remove Complex Orders resting on
the Strategy Book.\8\ Two other differences between the proposed
Complex Order Report and the Simple Order Report are that the proposed
Complex Order Report will include the Complex MBBO \9\ in place of the
MBBO and Complex ABBO \10\ in place of the ABBO, as described further
below. These are minor differences designed to provide the MBBO and
ABBO that are relevant to trading Complex Orders. Otherwise, the
content and dissemination of the proposed Complex Order Report set
forth under amended Exchange Rule 531(b) will be identical to that of
the Simple Order Report under Exchange Rule 531(a). Other than the
difference set forth above, the Exchange represents that there are no
other differences between Simple Orders and Complex Orders that would
necessitate any other changes to the proposed Complex Order Report or
render the effects or use of the proposed Complex Order Report as
different from the Simple Order Report.
---------------------------------------------------------------------------

    \8\ The term ``Complex Strategy'' means ``a particular
combination of components and their ratios to one another. New
complex strategies can be created as the result of the receipt of a
complex order or by the Exchange for a complex strategy that is not
currently in the System.'' See Exchange Rule 518(a)(6). The term
``Strategy Book'' means the Exchange's electronic book of complex
orders and complex quotes. See Exchange Rule 518(a)(17). The
Strategy Book is organized by Complex Strategy in that individual
orders for a defined Complex Strategy are organized together in a
book that is separate from the orders for a different Complex
Strategy.
    \9\ The term ``MBBO'' means the Exchange's best bid or offer.
See Exchange Rule 100. The Complex MBBO for a particular Complex
Strategy is calculated using the Implied Complex MIAX Emerald Best
Bid or Offer (``icMBBO'') combined with the best price currently
available for that particular Complex Strategy on the Strategy Book
to establish the Exchange's best net bid or offer for that Complex
Strategy. The icMBBO is calculated using the best price from the
Simple Order Book for each component of a Complex Strategy including
displayed and non-displayed trading interest. For stock-option
orders, the icMBBO for a Complex Strategy is calculated using the
best price (whether displayed or non-displayed) on the Simple Order
Book in the individual option component(s), and the NBBO in the
stock component. See Exchange Rule 518(a)(11).
    \10\ The term ``ABBO'' or ``Away Best Bid or Offer'' means the
best bid(s) or offer(s) disseminated by other Eligible Exchanges
(defined in Exchange Rule 1400(g)) and calculated by the Exchange
based on market information received by the Exchange from the
Options Price Reporting Authority (``OPRA''). See Exchange Rule 100.
The Complex ABBO is calculated using the ABBO for each component of
a Complex Strategy to establish the away markets' best net bid or
offer for a Complex Strategy.
---------------------------------------------------------------------------

    Like the Simple Order Report, the proposed Complex Order Report is
an optional product \11\ available to Members. Currently, the Exchange
provides real-time prices and analytics in the marketplace. The
Exchange believes the additional data points from the matching engine
outlined below may help Members gain a better understanding about their
Complex Order interactions with the Exchange. The Exchange believes the
proposed Complex Order Report will provide Members with an opportunity
to learn more about better opportunities to access liquidity and
receive better execution rates when trading Complex Orders. The
proposed Complex Order Report will increase transparency and
democratize information so that all firms that subscribe to the
proposed Complex Order Report have access to the same information on an
equal basis, even for firms that do not have the appropriate resources
to generate a similar report regarding interactions with the Exchange.
Like the Simple Order Report, none of the components of the proposed
Complex Order Report include real-time market data.
---------------------------------------------------------------------------

    \11\ The Exchange intends to submit a separate filing with the
Commission pursuant to Section 19(b)(1) to propose fees for the
proposed Complex Order Report.
---------------------------------------------------------------------------

    Members generally would use a liquidity accessing order if there is
a high probability that it will execute against an order resting on the
Exchange's Simple Order Book. Like the Simple Order Report, the
proposed Complex Order Report would identify by how much time an order
that may have been marketable missed an execution. In the case of the
proposed Complex Order Report, the incoming order would be a Complex
Order submitted to trade against a resting order for a Complex
Strategy. The proposed Complex Order Report will provide greater
visibility into the missed trading execution, which will allow Members
to optimize their models and trading patterns to yield better execution
results when trading Complex Orders.
    Like the Simple Order Report, the proposed Complex Order Report
will be a Member-specific report and will help Members to better
understand by how much time a particular order, in this case a Complex
Order, missed executing against a specific resting order, thus allowing
that Member to determine whether it wants to invest in the necessary
resources and technology to mitigate missed executions against certain
resting orders on the Exchange's Strategy Book. For example, Member A
submits a Complex Order that is posted to the Strategy Book and then,
within 200 microseconds of the entry of Member A's Complex Order,
Member B enters a marketable Complex Order to execute against Member
A's resting Complex Order. Immediately thereafter, Member C also within
200 microseconds of the entry of Member A's Complex Order, sends a
marketable

Complex Order to execute against Member A's resting Complex Order.
Because Member B's Complex Order is received by the Exchange before the
Complex Order for Member C, Member B's Complex Order executes against
Member A's resting Complex Order. If Member C were to subscribe to the
proposed Complex Order Report, it would be provided the data points
necessary for that firm to calculate by how much time they missed
executing against Member A's resting Complex Order.
    Like the Simple Order Report, the Exchange proposes to provide the
proposed Complex Order Report on a T+1 basis. As further described
below, the proposed Complex Order Report will be specific and tailored
to the Member that is subscribed to the Complex Order Report and any
data included in the Complex Order Report that relates to a Member
other than the Member receiving the Complex Order Report will be
anonymized.
    The Exchange proposes to provide the Complex Order Report in
response to Member demand for data concerning the timeliness of their
incoming Complex Orders and executions against resting orders. Members
have found the existing Simple Order Report helpful and have
periodically requested similar information from the Exchange regarding
their Complex Orders. This has come in the form of requests by Members
to the Exchange's trading operations personnel for information
concerning the timeliness of their incoming Complex Orders and efficacy
of their attempts to execute against resting liquidity on the
Exchange's Strategy Book. The purpose of the proposed Complex Order
Report is to provide Recipient Members the necessary data in a
standardized format on a T+1 and equal basis.
    Similar to current Exchange Rule 531(a) regarding the Simple Order
Report, amended Exchange Rule 531(b) would provide that the proposed
Complex Order Report is a daily report that provides a Member
(``Recipient Member'') with its liquidity response time details for
executions of an order resting on the Strategy Book, where that
Recipient Member submitted a Complex Order that attempted to execute
against such resting Complex Order within a certain timeframe.
Report Content
    The content of the proposed Complex Order Report would be identical
to the Simple Order Report, but for two minor differences discussed
below. Paragraph (b)(1) of Rule 531 would describe the content of the
proposed Complex Order Report and delineate which information would be
provided regarding the resting order,\12\ the response that
successfully executed against the resting order, and the response
submitted by the Recipient Member that missed executing against the
resting order. It is important to note that the content of the proposed
Complex Order Report will be specific to the Recipient Member and the
proposed Complex Order Report will not include any information related
to any Member other than the Recipient Member. The Exchange will
restrict all other market participants, including the Recipient Member,
from receiving another market participant's data.
---------------------------------------------------------------------------

    \12\ Like the Simple Order Report, only displayed orders will be
included in the proposed Complex Order Report. The Exchange notes
that it does not currently offer any non-displayed order types on
its options trading platform.
---------------------------------------------------------------------------

    Resting Order Information. The content of the proposed Complex
Order Report set forth under amended Exchange Rule 531(b)(1)(i) is
identical to the content of the Simple Order Report under Exchange Rule
531(a)(1)(i). However, as noted above, the content of the proposed
Complex Order Report would be limited to incoming Complex Orders that
seek to remove liquidity from the Exchange's Strategy Book.
    Amended Exchange Rule 531(b)(1)(i) would provide that the following
information would be included in the proposed Complex Order Report
regarding the resting order: (A) The time the resting order was
received by the Exchange; \13\ (B) symbol; \14\ (C) order reference
number, which is a unique reference number assigned to a new Complex
Order at the time of receipt; \15\ (D) whether the Recipient Member is
an Affiliate \16\ of the Member that entered the resting order \17\;
(E) origin type (e.g., Priority Customer,\18\ Market Maker \19\); \20\
(F) side (buy or sell); \21\ and (G) displayed price and size of the
resting order.\22\
---------------------------------------------------------------------------

    \13\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(i)(A).
    \14\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(i)(B).
    \15\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(i)(C).
    \16\ The term ``affiliate'' of or person ``affiliated with''
another person means a person who, directly, or indirectly,
controls, is controlled by, or is under common control with, such
other person. See Exchange Rule 100.
    \17\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(i)(D). The Report will simply
indicate whether the Recipient Member is an Affiliate of the Member
that entered the resting order and not include any other information
that may indicate the identity of the Member that entered the
resting order.
    \18\ The term ``Priority Customer'' means a person or entity
that (i) is not a broker or dealer in securities, and (ii) does not
place more than 390 orders in listed options per day on average
during a calendar month for its own beneficial account(s). The
number of orders shall be counted in accordance with Interpretation
and Policy .01 to Exchange Rule 100. See Exchange Rule 100.
    \19\ The term ``Market Maker'' refers to ``Lead Market Makers'',
``Primary Lead Market Makers'' and ``Registered Market Makers''
collectively. See Exchange Rule 100.
    \20\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(i)(E).
    \21\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(i)(F).
    \22\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(i)(G). The Exchange notes that
the displayed price and size are also disseminated via the
Exchange's proprietary data feeds.
---------------------------------------------------------------------------

    Execution Information. Amended Exchange Rule 531(b)(1)(ii) would
provide that the following information would be included in the
proposed Complex Order Report regarding the execution of the resting
order: (A) The Complex MBBO at the time of execution; \23\ (B) the
Complex ABBO at the time of execution; \24\ (C) the time the first
response that executes against the resting order was received by the
Exchange and the size of the execution and type of the response; \25\
(D) the time difference between the time the resting order was received
by the Exchange and the time the first response that executes against
the resting order was received by the Exchange; \26\ and (E) whether
the

response was entered by the Recipient Member.\27\ If the resting order
executes against multiple contra-side responses, only the Complex MBBO
and Complex ABBO at the time of the execution against the first
response will be included.
---------------------------------------------------------------------------

    \23\ Similar information is included in the Simple Order Report.
Exchange Rule 531(b)(1)(ii)(A) would similarly provide that if the
resting order executes against multiple contra-side responses, only
the Complex MBBO at the time of the execution against the first
response will be included.
    \24\ Similar information is included in the Simple Order Report.
See Exchange Rule 531(a)(1)(ii)(B). Exchange Rule 531(b)(1)(ii)(B)
would similarly provide that if the resting order executes against
multiple contra-side responses, only the Complex ABBO at the time of
the execution against the first response will be included.
    \25\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(ii)(C). The time the Exchange
received the response order would be in nanoseconds and would be the
time the response was received by the Exchange's network, which is
before the time the response would be received by the System. The
type of responses that would be identified in the proposed Complex
Order Report are Standard Quotes and eQuotes. A ``Standard Quote''
is a quote submitted by a Market Maker that cancels and replaces the
Market Maker's previous Standard Quote, if any. See Exchange Rule
517(a)(1). An ``eQuote'' is a quote with a specific time in force
that does not automatically cancel and replace a previous Standard
quote or eQuote. An eQuote can be cancelled by the Market Maker at
any time, or can be replaced by another eQuote that contains
specific instructions to cancel an existing eQuote. See Exchange
Rule 517(a)(2).
    \26\ The time difference would be provided in nanoseconds. This
information is also included in the Simple Order Report. See
Exchange Rule 531(a)(1)(ii)(D).
    \27\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(ii)(E).
---------------------------------------------------------------------------

    The content of the proposed Complex Order Report set forth under
amended Exchange Rule 531(b)(1)(ii) is identical to the content of the
Simple Order Report under Exchange Rule 531(a)(1)(ii) with two minor
differences. The Simple Order Report includes the MBBO, which is the
Exchange's best bid or offer, and the ABBO, which is the best bid or
offer of away exchanges. In their place, the proposed Complex Order
Report would include the Complex MBBO and Complex ABBO. The Complex
MBBO is calculated using the MBBO for each component of a Complex
Strategy to establish the Exchange's best net bid or offer for a
Complex Strategy. As discussed above, the Complex MBBO is calculated
using the icMBBO combined with the best price currently available on
the Strategy Book to establish the Exchange's best net bid or offer for
a Complex Strategy.\28\ The Complex ABBO is calculated using the ABBO
for each component of a Complex Strategy to establish the away markets'
best net bid or offer for a Complex Strategy using OPRA data. The
Exchange is providing the Complex MBBO and Complex ABBO because both
are relevant and tailored to a Member that is entering a Complex Order
to remove liquidity as part of a Complex Strategy and, therefore, more
germane to the purpose of the Complex Order Report.
---------------------------------------------------------------------------

    \28\ See also supra note 9.
---------------------------------------------------------------------------

    Recipient Member's Response Information. The content of the
proposed Complex Order Report set forth under amended Exchange Rule
531(b)(1)(iii) is identical to the content of the Simple Order Report
under Exchange Rule 531(a)(1)(iii). Amended Exchange Rule
531(b)(1)(iii) would provide that the following information would be
included in the Complex Order Report regarding Complex Order(s) sent by
the Recipient Member: (A) Recipient Member identifier; \29\ (B) the
time difference between the time the first response that executes
against the resting order was received by the Exchange and the time of
each Complex Order sent by the Recipient Member, regardless of whether
it executed or not; \30\ (C) size and type of each Complex Order
submitted by the Recipient Member; \31\ and (D) response reference
number, which is a unique reference number attached to the response by
the Recipient Member.\32\
---------------------------------------------------------------------------

    \29\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(iii)(A).
    \30\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(iii)(B). For purposes of
calculating this duration of time, the Exchange will use the time
the resting order and the Recipient Member's response(s) is received
by the Exchange's network, both of which would be before the order
and response(s) would be received by the System. This time
difference would be provided in nanoseconds.
    \31\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(iii)(C).
    \32\ This information is also included in the Simple Order
Report. See Exchange Rule 531(a)(1)(iii)(D).
---------------------------------------------------------------------------

Timeframe for Data Included in Report
    The timeframe for data to be included the proposed Complex Order
Report set forth under amended Exchange Rule 531(b)(2) is identical to
the timeframe for data included in the Simple Order Report under
Exchange Rule 531(a)(2). Paragraph (b)(2) of Exchange Rule 531 would
provide that the Complex Order Report would include the data set forth
under Exchange Rule 531(b)(1) described above for executions and
contra-side responses that occurred within 200 microseconds of the time
the resting order was received by the Exchange. The Exchange believes
200 microseconds is the appropriate timeframe because it understands
most Members that would be interested in subscribing to the proposed
Complex Order Report would submit their incoming liquidity removing
Complex Orders within 200 microseconds of the time a contra-side
Complex Order is posted to the Strategy Book.
Scope of Data Included in the Report
    The scope of data to be included the proposed Complex Order Report
set forth under amended Exchange Rule 531(b)(3) is identical to the
scope of data included in the Simple Order Report under Exchange Rule
531(a)(3). Paragraph (b)(3) of Exchange Rule 531 would provide that the
Complex Order Report will only include trading data related to the
Recipient Member and, subject to the proposed paragraph (4) of Exchange
Rule 531(b) described below, will not include any other Member's
trading data other than that listed in paragraphs (1)(i) and (ii) of
Exchange Rule 531(b), described above. Like the Simple Order Report,
the proposed Complex Order Report will not include information related
to any Member other than the Recipient Member.\33\
---------------------------------------------------------------------------

    \33\ See Exchange Rule 531(a)(3).
---------------------------------------------------------------------------

Historical Data
    Paragraph (b)(4) of Exchange Rule 531 would specify that the
Complex Order Report will contain historical data from the prior
trading day and will be available after the end of the trading day,
generally on a T+1 basis. This is identical to the timeframe for when
the Simple Order Report is made available.\34\
---------------------------------------------------------------------------

    \34\ See Exchange Rule 531(a)(4).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes the 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.\35\ Specifically, the Exchange believes the proposed rule change
is consistent with the Section 6(b)(5) \36\ requirements that the rules
of an exchange be 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 mechanism of a free and open market and a national market
system, and, in general, to protect investors and the public interest.
This proposal is in keeping with those principles in that it promotes
increased transparency through the dissemination of the optional
Complex Order Report to those interested in subscribing to receive the
data. Additionally, the Exchange believes the proposed rule change is
consistent with the Section 6(b)(5) \37\ requirement that the rules of
an exchange not be designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------

    \35\ 15 U.S.C. 78f(b).
    \36\ 15 U.S.C. 78f(b)(5).
    \37\ Id.
---------------------------------------------------------------------------

    But for three differences, the description of the proposed Complex
Order Report under Exchange Rule 531(b) is identical to that of the
Simple Order Report under Exchange Rule 531(a).\38\ The first
difference concerns the content of the proposed Complex Order Report,
which would be limited to incoming Complex Orders that seek to remove
liquidity from the Exchange's Strategy Book. The Simple Order Report
includes information about incoming orders seeking to remove liquidity
from the Simple Order Book. This difference is immaterial because both
reports include basically the same information and seek to serve the
same purpose, to

provide the Recipient Member with the same type of data necessary for
them to evaluate their own trading behavior and order interactions on
the Exchange; however, the Simple Order Report contains data relevant
to the Simple Order Book while the proposed Complex Order Report
contains data relevant to the Strategy Book.
---------------------------------------------------------------------------

    \38\ See supra note 5.
---------------------------------------------------------------------------

    The other two differences are that the Simple Order Report includes
the MBBO, which is the Exchange's best bid or offer, and the ABBO,
which is the best bid or offer of away exchanges. In their place, the
proposed Complex Order Report would include the Complex MBBO and
Complex ABBO. As discussed above, the Complex MBBO is calculated using
the icMBBO combined with the best price currently available on the
Strategy Book to establish the Exchange's best net bid or offer for a
Complex Strategy.\39\ The Complex ABBO is calculated using the ABBO for
each component of a Complex Strategy to establish the away markets'
best net bid or offer for a Complex Strategy using OPRA data. The
Exchange is providing the Complex MBBO and Complex ABBO because both
are relevant and tailored to a Member that is entering a Complex Order
to remove liquidity as part of a Complex Strategy and, therefore, more
germane to the purpose of the Complex Order Report. The Exchange
believes these differences are appropriate because providing the
Complex MBBO in place of the MBBO and the Complex ABBO in place of the
ABBO are more germane to the purpose of the proposed Complex Order
Report.
---------------------------------------------------------------------------

    \39\ See also supra note 9.
---------------------------------------------------------------------------

    Like the Simple Order Report, the Exchange believes the proposed
Complex Order Report will serve to promote just and equitable
principles of trade, remove impediments to and perfect the mechanism of
a free and open market and a national market system, and, in general
protect investors and the public interest by providing Members access
to information regarding their trading activity that they may utilize
to evaluate their own Complex Order trading behavior and order
interactions. Also, like the Simple Order Report, the proposed Complex
Order Report is designed for Members that are interested in gaining
insight into latency in connection with Complex Orders that failed to
execute against an order resting on the Exchange's Strategy Book by
providing those Members data to analyze by how much time their Complex
Order may have missed an execution against a contra-side order resting
on the Strategy Book. The Exchange believes that providing this
optional latency data to interested Members is consistent with
facilitating transactions in securities, removing impediments to and
perfecting the mechanism of a free and open market and a national
market system, and, in general, protecting investors and the public
interest because it provides greater visibility into the latency of
Members' incoming orders that they may use to optimize their models and
trading patterns in an effort to yield better execution results by
calculating by how much time their order may have missed an execution.
This would, in turn, benefit other market participants who may
experience better executions on the Exchange because those that use the
proposed Complex Order Report may re-calibrate their trading models and
then increase their trading on the Exchange and volume of liquidity
removing orders. This could lead to an increase in incoming liquidity
removing orders resulting in higher execution rates for Members who
primarily place resting orders on the Strategy Book. The proposed
Complex Order Report may benefit other market participants who would
receive greater fill rates, thereby facilitating transactions in
securities and perfecting the mechanism of the national market system.
    As discussed above, the Exchange currently fields ad hoc requests
from Members for information regarding the timeliness of their attempts
to execute against resting options liquidity on the Exchange's Strategy
Book. The proposal promotes just and equitable principles of trade
because it would provide latency information in a systematized way and
standardized format to any Member that chooses to subscribe to the
proposed Complex Order Report. As a result, the proposal would also
remove impediments to and perfect the mechanism of a free and open
market and a national market system by making latency information for
liquidity-seeking orders available in a more equalized manner. The
proposal further promotes just and equitable principles of trade by
increasing transparency, particularly for Recipient Members that may
not have the expertise to generate the same information on their own.
The proposed Complex Order Report may better enable Recipient Members
to increase the fill rates for their liquidity-seeking Complex Orders.
At the same time, as is also discussed above, the Complex Order Report
promotes just and equitable principles of trade and protects investors
and the public interest because it is designed to prevent a Recipient
Member from learning other Members' sensitive trading information. The
Complex Order Report would not be a real-time market data product, as
it would provide only historical trading data for the previous trading
day, generally on a T+1 basis. In addition, the data in the Complex
Order Report regarding incoming orders that failed to execute would be
specific to the Recipient Member's Complex Orders, and other
information in the proposed Complex Order Report regarding resting
orders and executions would be anonymized if it relates to a Member
other than the Recipient Member.
    The Complex Order Report generally would contain three buckets of
information. The first two buckets include information about the
resting order and the execution of the resting order. This information
is available from the Exchange's proprietary data feeds or derivable
from OPRA. For example, the Exchange offers the Complex Top of Market
(``cToM'') feed which provides real-time quote and last sale
information for all displayed orders on the Strategy Book.\40\
---------------------------------------------------------------------------

    \40\ See Section 6(a) of the Exchange's Fee Schedule.
---------------------------------------------------------------------------

    Specifically, the first bucket of information contained in the
proposed Complex Order Report for the resting order would include the
time the resting order was received by the Exchange, the symbol, unique
reference number assigned at the time of receipt, side (buy or sell),
and the displayed price and size of the resting order. The symbol,
origin type, side (buy or sell), and displayed price and size are also
available via the Exchange's proprietary data feeds. The first bucket
of information would also indicate whether the Recipient Member is an
Affiliate of the Member that entered the resting order. This data field
would not indicate the identity of the Member that entered the resting
order and would simply allow the Recipient Member to better understand
the scenarios in which it may execute against the orders of its
Affiliates.\41\
---------------------------------------------------------------------------

    \41\ The Exchange surveils to monitor for aberrant behavior
related to internalized trades and identify potential wash sales.
---------------------------------------------------------------------------

    The second bucket of information contained in the proposed Complex
Order Report pertains to the execution of the resting order and
includes the Complex MBBO and Complex ABBO at the time of execution.
These data points are also derivable from information disseminated via
OPRA or available via the Exchange's proprietary data feeds. The second
bucket of information would also indicate whether the response was
entered by the Recipient

Member. This data point would be simply provided as a convenience. If
not entered by the Recipient Member, this data point would be left
blank so as not to include any identifying information about other
Member activity. The second bucket of information would also include
the size, time and type of first response \42\ that executes against
the resting order; as well as the time difference between the time the
resting order and first response that executes against the resting
order are received by the Exchange. These data points would assist the
Recipient Member in analyzing by how much time their order may have
missed an execution against a contra-side order resting on the Strategy
Book.
---------------------------------------------------------------------------

    \42\ See supra note 25.
---------------------------------------------------------------------------

    The third bucket of information would be about the Recipient
Member's response(s) and the time their response(s) is received by the
Exchange. This would include the time difference between the time the
first response that executes against the resting order was received by
the Exchange and the time of each response sent by the Recipient
Member, regardless of whether it executed or not. As above, this data
point would assist the Recipient Member in analyzing by how much time
their order may have missed an execution against a contra-side order
resting on the Strategy Book. This bucket would also include the size
and type of each response submitted by the Recipient Member, the
Recipient Member identifier, and a response reference number, which is
selected by the Recipient Member. Each of these data points are unique
to the Recipient Member and should already be known by the Recipient
Member even if not included in the Complex Order Report.
    The Exchange proposes to provide the Complex Order Report on a
voluntary basis and no Member will be required to subscribe to the
Complex Order Report. The Exchange notes that there is no rule or
regulation that requires the Exchange to produce, or that a Member
elect to receive, the proposed Complex Order Report. It would be
entirely a business decision of each Member to subscribe to the
proposed Complex Order Report. The Exchange proposes to offer the
Complex Order Report as a convenience to Members to provide them with
additional information regarding trading activity on the Exchange on a
delayed basis after the close of regular trading hours. A Member that
chooses to subscribe to the proposed Complex Order Report may
discontinue receiving the Complex Order Report at any time if that
Member determines that the information contained in the Complex Order
Report is no longer useful.
    In summary, the proposed Complex Order Report will help to protect
a free and open market by providing additional data (offered on an
optional basis) to the marketplace and by providing investors with
greater choices.\43\ Additionally, the proposal would not permit unfair
discrimination because the proposed Complex Order Report will be
available to all Exchange Members.
---------------------------------------------------------------------------

    \43\ See Sec. Indus. Fin. Mkts. Ass'n (SIFMA), Initial Decision
Release No. 1015, 2016 SEC LEXIS 2278 (ALJ June 1, 2016) (finding
the existence of vigorous competition with respect to non-core
market data).
---------------------------------------------------------------------------

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

    The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act, as amended.
Inter-Market Competition
    The proposed Complex Order Report will allow the Exchange to
provide a new option for Members to receive historical latency related
data. The proposed Complex Order Report will also further enhance
inter-market competition between exchanges by allowing the Exchange to
expand its product offerings. The latency information that would be
provided in the proposed Complex Order Report would enhance competition
between exchanges that offer complex order functionality because it
would allow Recipient Members to recalibrate their models and trading
strategies to improve their overall trading experience on the Exchange.
This may improve the Exchange's overall trading environment resulting
in increased liquidity and order flow on the Exchange. In response,
other exchanges may similarly seek ways to provide latency related data
in an effort to improve their own market quality.
Intra-Market Competition
    The proposed rule change to offer the optional Complex Order Report
is in response to Member interest and requests for such information.
The Exchange does not believe the proposed Complex Order Report will
have an inappropriate burden on intra-market competition between
Recipient Members and other Members who choose not to receive the
Complex Order Report. As discussed above, the first two buckets of
information included in the Complex Order Report contain information
about the resting order and the execution of the resting order, both of
which are generally available to Members that choose not to receive the
Complex Order Report from other sources, such as by deriving these data
points from OPRA or obtaining them from the Exchange's proprietary data
feeds. The third bucket of information pertains to the Recipient
Member's response and the time their response is received by the
Exchange, information which latency sensitive Members that do not
subscribe to the proposed Complex Order Report could obtain on their
own based on their knowledge of when they sent their response to the
Exchange and via timestamp information provided by the acknowledgment
message received from the Exchange. However, latency sensitive Members
that do not subscribe to the proposed Complex Order Report would not be
able to obtain the time difference between the time the first response
that executes against the resting order was received by the Exchange
and the time of each response sent by the Recipient Member. Such
latency sensitive Members may not view this information as beneficial
based on their own trading models and systems. Other Members that do
not subscribe to the proposed Complex Order Report may not view the
entire proposed Complex Order Report as useful due to their own trading
behaviors and business models. Such Members may not be latency
sensitive and may be interested primarily in providing resting
liquidity on the Exchange's Strategy Book, or they may simply be
connected to the Exchange for best execution purposes or to comply with
the trade-through requirements under Chapter XIV of the Exchange's
Rules.\44\ Additionally, some Members may already be able to derive a
substantial amount of the same data that is provided by some of the
components based on their own executions and algorithms.
---------------------------------------------------------------------------

    \44\ See Exchange Rule 1401, Order Protection.
---------------------------------------------------------------------------

    In sum, if the proposed Complex Order Report is unattractive to
Members, Members will opt not to receive it. Accordingly, the Exchange
does not believe that the proposed change will impair the ability of
Members or competing order execution venues to maintain their
competitive standing in the financial markets.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days after the date of the filing, or such
shorter time as the Commission may designate, it has become effective
pursuant to 19(b)(3)(A) of the Act \45\ and Rule 19b-4(f)(6) \46\
thereunder.
---------------------------------------------------------------------------

    \45\ 15 U.S.C. 78s(b)(3)(A).
    \46\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.

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-MIAX-2022-06 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-2022-06. 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-MIAX-2022-06, and should be submitted on
or before March 1, 2022.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\47\
---------------------------------------------------------------------------

    \47\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-02551 Filed 2-7-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: April 4, 2006 (Volume 71, Number 64)]
[Notices]
[Page 16852-16853]
[DOCID:fr04ap06-81]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53565; File No. SR-NYSE-2005-86]

Self-Regulatory Organizations; New York Stock Exchange, Inc.;
Order Approving Proposed Rule Change and Amendment No. 1 Thereto To
Conform NYSE Rules 123C and 476A With NYSE Rule 80A

March 29, 2006.
    On December 7, 2005, the New York Stock Exchange, Inc. (``NYSE'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to amend: (a) NYSE Rule 123C (Market on the Close
Policy and Expiration Procedures); and (b) the Supplementary Material
to NYSE Rule 476A (Imposition of Fines for Minor Violation(s) of
Rules), to conform such rules with the current provisions of NYSE Rule
80A (Index Arbitrage Trading Restrictions). On February 9, 2006, the
Exchange filed Amendment No. 1 to the proposed rule change. The
proposed rule change, as amended, was published for comment in the
Federal Register on February 24, 2006.\3\ The Commission received no
comments regarding the proposal.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 53327 (February 16,
2006), 71 FR 9629.
---------------------------------------------------------------------------

    The Commission finds that the proposed rule change is consistent
with the requirements of the Act and the rules and regulations
thereunder applicable to a national securities exchange.\4\ In
particular, the Commission believes that the proposal is consistent
with Section 6(b)(5) of the Act,\5\ because the proposal promotes
transparency and accuracy of the rules of the Exchange for Exchange
members by making clarifying changes to NYSE Rule 123C and conforming
NYSE Rules 123C and 476A with the provisions of NYSE Rule 80A. A
proposed rule change that is reasonably designed to make the Exchange's
rules more consistent and transparent should help protect investors and
the public interest.
---------------------------------------------------------------------------

    \4\ In approving this proposed rule change, the Commission notes
that it has considered the proposed rule's impact on efficiency,
competition, and capital formation. See 15 U.S.C. 78c(f).
    \5\ 5 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Commission further believes that the proposal is consistent
with Sections 6(b)(1) and 6(b)(6) of the Act,\6\ which

require that the rules of an exchange enforce compliance with, and
provide appropriate discipline for, violations of Commission and
Exchange rules. The Commission notes that the proposed rule change
clarifies the list of Exchange rule violations that are subject to
disciplinary fines pursuant to NYSE Rule 476A. In addition, because
existing NYSE Rule 476A provides procedural rights to a person fined
for any violation of an Exchange rule that is determined to be minor in
nature to contest the fine and permits disciplinary proceedings on the
matter, the Commission believes NYSE Rule 476A, as amended by this
proposal, provides a fair procedure for the disciplining of members and
persons associated with members, consistent with Sections 6(b)(7) and
6(d)(1) of the Act.\7\
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b)(1) and 78f(b)(6).
    \7\ 15 U.S.C. 78f(b)(7) and 78f(d)(1).
---------------------------------------------------------------------------

    Finally, the Commission finds that the proposal is consistent with
the public interest, the protection of investors, or otherwise in
furtherance of the purposes of the Act, as required by Rule 19d-1(c)(2)
under the Act \8\ which governs minor rule violation plans. The
Commission believes that the proposed change to NYSE Rule 476A will
strengthen the Exchange's ability to carry out its oversight and
enforcement responsibilities as a self-regulatory organization in cases
where full disciplinary proceedings are unsuitable in view of the minor
nature of the particular violation.
---------------------------------------------------------------------------

    \8\ 17 CFR 240.19d-1(c)(2).
---------------------------------------------------------------------------

    In approving this proposed rule change, the Commission in no way
minimizes the importance of compliance with NYSE rules and all other
rules subject to the imposition of fines under the minor rule violation
plan of the Exchange. The Commission believes that the violation of any
self-regulatory organization's rules, as well as Commission rules, is a
serious matter. However, the Exchange's minor rule violation plan under
NYSE Rule 476A provides a reasonable means of addressing rule
violations that do not rise to the level of requiring formal
disciplinary proceedings, while providing greater flexibility in
handling certain violations. The Commission expects that NYSE will
continue to conduct surveillance with due diligence and make a
determination based on its findings, on a case-by-case basis, whether a
fine of more or less than the recommended amount is appropriate for a
violation under the minor rule violation plan or whether a violation
requires formal disciplinary action under NYSE Rule 476.
    It is therefore ordered, pursuant to Section 19(b)(2) of the Act
\9\ and Rule 19d-1(c)(2) under the Act,\10\ that the proposed rule
change (SR-NYSE-2005-86), as amended, be, and hereby is, approved and
declared effective.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2).
    \10\ 17 CFR 240.19d-1(c)(2).

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\11\
Nancy M. Morris,
Secretary.
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(12); 17 CFR 200.30-3(a)(44).
---------------------------------------------------------------------------

[FR Doc. E6-4823 Filed 4-3-06; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register: January 28, 2008 (Volume 73, Number 18)]
[Notices]
[Page 4875-4877]
[DOCID:fr28ja08-65]

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

DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2008-D-0030] (formerly Docket No. 2004D-0466)

Agency Information Collection Activities; Proposed Collection;
Comment Request; Draft Guidance for Industry: Substantiation for
Dietary Supplement Claims Made Under the Federal Food, Drug, and
Cosmetic Act

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration (FDA) is announcing an
opportunity for public comment on the proposed collection of certain
information by the agency. Under the Paperwork Reduction Act of 1995
(the PRA), Federal agencies are required to publish notice in the
Federal Register concerning each proposed collection of information and
to allow 60 days for public comment in response to the notice. This
notice solicits comments on the information collection provisions of
the draft guidance entitled ``Guidance for Industry: Substantiation for
Dietary Supplement Claims Made Under Section 403(r)(6) of the Federal
Food, Drug, and Cosmetic Act.''

DATES: Submit written or electronic comments on the collection of
information by March 28, 2008.

ADDRESSES: Submit electronic comments on the collection of information
to: http://www.regulations.gov. Submit written comments on the
collection of information to the Division of Dockets Management (HFA-
305), Food and Drug Administration, 5630 Fishers Lane, rm. 1061,
Rockville, MD 20852. All comments should be identified with the docket
number found in brackets in the heading of this document.

FOR FURTHER INFORMATION CONTACT: Jonna Capezzuto, Office of the Chief
Information Officer (HFA-250), Food and Drug Administration, 5600
Fishers Lane, Rockville, MD 20857,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal
agencies must obtain approval from the Office of Management and Budget
(OMB) for each collection of information they conduct or sponsor.
``Collection of information'' is defined in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) and includes agency requests or requirements that members of
the public submit reports, keep records, or provide information to a
third party. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A))
requires Federal agencies to provide a 60-day notice in the Federal
Register concerning each proposed collection of information before
submitting the collection to OMB for approval. To comply with this
requirement, in the Federal Register of November 9, 2004 (69 FR 64962),
FDA published a notice of availability of the draft guidance document
providing a 60-day public comment period on the collection of
information provisions. Thereafter, in the Federal Register of June 7,
2007 (72 FR 31583), FDA published a 30-day notice responding to
comments on the collection of information provisions received in
response to the November 9, 2004, notice and announcing that the
proposed collection of information had been submitted to OMB. In
response to a request by OMB, FDA is republishing notice of the
proposed collection of information set forth in this document.
    With respect to the following collection of information, FDA
invites comments on these topics: (1) Whether the proposed collection
of information is necessary for the proper performance of FDA's
functions, including whether the information will have practical
utility; (2) the accuracy of FDA's estimate of the burden of the
proposed collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility, and clarity of the information to be collected; and (4) ways
to minimize the burden of the collection of information on respondents,
including through the use

of automated collection techniques, when appropriate, and other forms
of information technology.

Substantiation for Dietary Supplement Claims Made Under Section
403(r)(6) of the Federal Food, Drug, and Cosmetic Act (OMB Control
Number 0910--NEW)

    Section 403(r)(6) of the Federal Food, Drug, and Cosmetic Act (the
act) (21 U.S.C. 343(r)(6)) requires that a manufacturer of a dietary
supplement making a nutritional deficiency, structure/function, or
general well-being claim have substantiation that the statement is
truthful and not misleading. The draft guidance document entitled
``Guidance for Industry: Substantiation for Dietary Supplement Claims
Made Under Section 403(r)(6) of the Federal Food, Drug, and Cosmetic
Act'' is intended to describe the amount, type, and quality of evidence
FDA recommends a dietary supplement manufacturer have to substantiate a
claim under section 403(r)(6) of the act. This draft guidance does not
discuss the types of claims that can be made concerning the effect of a
dietary supplement on the structure or function of the body, nor does
it discuss criteria to determine when a statement about a dietary
supplement is a disease claim. Persons with access to the Internet may
obtain the draft guidance at the following Web site: http://
www.cfsan.fda.gov/~dms/guidance.html. A copy of the draft guidance also
is available for public examination in the Division of Dockets
Management (see ADDRESSES).
    FDA estimates the burden of this collection of information as
follows:

                                                     Table 1.--Estimated Annual Reporting Burden\1\
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                              No. of       Annual Frequency per     Total Annual        Hours per
                      Claim Type                           Respondents            Response           Responses           Response         Total Hours
--------------------------------------------------------------------------------------------------------------------------------------------------------
Widely known, established                                             667                     1                667                 44             29,348
--------------------------------------------------------------------------------------------------------------------------------------------------------
Pre-existing, not widely established                                  667                     1                667                120             80,040
--------------------------------------------------------------------------------------------------------------------------------------------------------
Novel                                                                 667                     1                667                120             80,040
                                                        .................  ....................  .................  .................  .................
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total                                                                                189,428
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\There are no capital costs or operating and maintenance costs associated with this collection of information.

    Dietary supplement manufacturers will only need to collect
information to substantiate their product's nutritional deficiency,
structure/function, or general well-being claim if they chose to place
a claim on their product's label. Gathering evidence on their product's
claim is a one time burden; they collect the necessary substantiating
information for their product as required by section 403(r)(6) of the
act.
    The standard discussed in the draft guidance for substantiation of
a claim on the labeling of a dietary supplement is consistent with
standards set by the Federal Trade Commission for dietary supplements
and other health-related products that the claim be based on competent
and reliable scientific evidence. This evidence standard is broad
enough that some dietary supplement manufacturers may only need to
collect peer-reviewed scientific journal articles to substantiate their
claims; other dietary supplement manufacturers whose products have
properties that are less well documented may have to conduct studies to
build a body of evidence to support their claims. It is unlikely that a
dietary supplement manufacturer will attempt to make a claim when the
cost of obtaining the evidence to support the claim outweighs the
benefits of having the claim on the product's label. It is likely that
manufacturers will seek substantiation for their claims in the
scientific literature.
    The time it takes to assemble the necessary scientific information
to support their claims depends on the product and the claimed
benefits. If the product is one of several on the market making a
particular claim for which there is adequate publicly available and
widely established evidence supporting the claim, then the time to
gather supporting data will be minimal; if the product is the first of
its kind to make a particular claim or the evidence supporting the
claim is less publicly available or not widely established, then
gathering the appropriate scientific evidence to substantiate the claim
will be more time consuming.
    FDA assumes that it will take 44 hours to assemble information
needed to substantiate a claim on a particular dietary supplement when
the claim is widely known and established. We increased this estimated
burden from 1 hour per claim to 44 hours per claim based on information
received from industry, as noted in our June 7, 2007, notice in
response to comment 1 (72 FR 31583 and 31584). FDA believes it will
take closer to 120 hours to assemble supporting scientific information
when the claim is novel or when the claim is pre-existing but the
scientific underpinnings of the claim are not widely established. These
are claims that may be based on emerging science, where conducting
literature searches and understanding the literature takes time. It is
also possible that references for claims made for some dietary
ingredients or dietary supplements may primarily be found in foreign
journals and in foreign languages or in the older, classical literature
where it is not available on computerized literature databases or in
the major scientific reference databases, such as the National Library
of Medicine's literature database, all of which increases the time of
obtaining substantiation.
    In the Federal Register of January 6, 2000, FDA published a final
rule on statements made for dietary supplements concerning the effect
of the product on the structure or function of the body (65 FR 1000).
FDA estimated that there were 29,000 dietary supplement products
marketed in the United States (65 FR 1000 at 1045). Assuming that the
flow of new products is 10 percent per year, then 2,900 new dietary
supplement products will come on the market each year. The structure/
function final rule estimated that about 69 percent of dietary
supplements have a claim on their labels, most probably a structure/
function claim (65 FR 1000 at 1046). Therefore, we assume that
supplement manufacturers will need time to assemble the evidence to
substantiate each of the 2,001 claims (2,900 x 69 percent) made each
year. If we assume that the 2,001 claims are

equally likely to be pre-existing widely established claims, novel
claims, or pre-existing claims that are not widely established, then we
can expect 667 of each of these types of claims to be substantiated per
year. Table 1 of this document shows that the annual burden hours
associated with assembling evidence for claims is 189,428 (the sum of
667 x 44 hours, 667 x 120 hours, and 667 x 120 hours).
    There are no capital costs or operating and maintenance costs
associated with this information collection.
    Please note that on January 15, 2008, the FDA Web site transitioned
to the Federal Dockets Management System (FDMS). FDMS is a Government-
wide, electronic docket management system. Electronic submissions will
be accepted by FDA through FDMS only.

    Dated: January 18, 2008.
Jeffrey Shuren,
Assistant Commissioner for Policy.
[FR Doc. E8-1362 Filed 1-25-08; 8:45 am]

BILLING CODE 4160-01-S


[Federal Register: November 15, 2006 (Volume 71, Number 220)]
[Notices]
[Page 66512]
[DOCID:fr15no06-48]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. RP06-622-001]

Williston Basin Interstate Pipeline Company; Notice of Compliance
Filing

November 7, 2006.
    Take notice that on November 3, 2006, Williston Basin Interstate
Pipeline Company (Williston Basin) tendered for filing as part of its
FERC Gas Tariff, Second Revised Volume No. 1, the following revised
tariff sheets, to become effective October 29, 2006:

Substitute Sixth Revised Sheet No. 232B.
Substitute First Revised Sheet No. 232B.01.

    Williston Basin states that the filing is being made in compliance
with the Commission's order issued on October 29, 2006, in the above-
referenced proceeding.
    Any person desiring to protest this filing must file in accordance
with Rule 211 of the Commission's Rules of Practice and Procedure (18
CFR 385.211). Protests to this filing 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. Such protests
must be filed in accordance with the provisions of Section 154.210 of
the Commission's regulations (18 CFR 154.210). Anyone filing a protest
must serve a copy of that document on all the parties to the
proceeding.
    The Commission encourages electronic submission of protests in lieu
of paper using the ``eFiling'' link at http://www.ferc.gov. Persons

unable to file electronically should submit an original and 14 copies
of the protest to the Federal Energy Regulatory Commission, 888 First
Street, NE., Washington, DC 20426.
    This filing is accessible on-line at http://www.ferc.gov, using the

``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For

TTY, call<PHONE_NUMBER>.

Magalie R. Salas,
Secretary.
[FR Doc. E6-19221 Filed 11-14-06; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 87, Number 69 (Monday, April 11, 2022)]
[Rules and Regulations]
[Pages 21011-21015]
[FR Doc No: 2022-07643]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF COMMERCE

Bureau of Industry and Security

15 CFR Part 744

[Docket No.<PHONE_NUMBER>]
RIN 0694-AI70

Addition of Certain Entities to the Entity List; Correction

AGENCY: Bureau of Industry and Security, Commerce.

ACTION: Correcting amendments.

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

SUMMARY: The Bureau of Industry and Security (BIS) publishes these
amendments to correct three errors contained in the revisions to the
Entity List that were published in a final rule on February 14, 2022.
That final rule amended the Export Administration Regulations (EAR) by
revising the Entity List entry for ``Huawei Cloud Brazil'' (under
Brazil) and by adding a new entry for ``Huawei Technologies Co., Ltd.''
(under China, People's Republic of). However, the references to the
foreign direct product provisions in the EAR that apply to these two
entities were incorrect. This rule amends the entries for the two
entities to include the correct references to these EAR provisions and
also corrects a typographical error in one of these entries.

DATES: This rule is effective April 11, 2022. This rule is applicable
as of February 14, 2022.

FOR FURTHER INFORMATION CONTACT: Chair, End-User Review Committee,
Office of the Assistant Secretary for Export Administration, Bureau of
Industry and Security, Department of Commerce, Phone:<PHONE_NUMBER>;
Email: [email protected].

SUPPLEMENTARY INFORMATION: The Entity List in supplement no. 4 to part
744 of the Export Administration Regulations (EAR) (15 CFR parts 730-
774) identifies entities for which there is reasonable cause to
believe, based on specific and articulable facts, that the entities
have been involved, are involved, or pose a significant risk of being
or becoming involved in activities contrary to the national security or
foreign policy interests of the United States. The EAR impose
additional license requirements on, and limit the availability of most
license exceptions for, exports, reexports and transfers (in-country)
to listed entities. These additional license requirements are
referenced, together with other relevant EAR provisions, in the
``License requirement'' column for each entity. The license review
policy for each listed entity is identified in the ``License review
policy'' column for that entity on the Entity List, and the impact on
the availability of license exceptions is described in the relevant
Federal Register document adding the entities to the Entity List. BIS
places entities on the Entity List pursuant to part 744 (Control
Policy: End-User and End-Use Based) and part 746 (Embargoes and Other
Special Controls) of the EAR.
    The End-User Review Committee (ERC), composed of representatives of
the Departments of Commerce (Chair), State, Defense, Energy and, where
appropriate, the Treasury, makes all decisions regarding additions to,
removals from, or other modifications to the Entity List. The ERC makes
all decisions to add an entry to the Entity List by majority vote and
makes all

decisions to remove or modify an entry by unanimous vote.
    On February 14, 2022 (87 FR 8180), BIS published a final rule
titled ``Addition of Certain Entities to the Entity List,'' which
amended the Entity List by, inter alia, revising the entry for ``Huawei
Cloud Brazil'' (under Brazil) and adding a new entry for ``Huawei
Technologies Co., Ltd.'' (under China, People's Republic of). However,
the references to certain EAR foreign direct product provisions that
were identified in the ``License requirement'' column for each of these
entities were incorrect. Specifically, the ``License requirement''
column for each of these entries incorrectly referenced Sec.
736.2(b)(3)(vi) of the EAR, instead of Sec.  734.9(e) of the EAR.
    The references to Sec.  734.9(e) of the EAR were added to a number
of entities on the Entity List, replacing previous references to Sec.
736.2(b)(3)(vi) of the EAR, by a final rule that BIS published in the
Federal Register on February 3, 2022 (87 FR 6022). That final rule
consolidated the foreign direct product (FDP) provisions in Sec.  734.9
of the EAR. Prior to the publication of the February 3, 2022, final
rule (hereinafter, the ``FDP rule''), the FDP provisions of the EAR
were found in Sec.  736.2(b)(3) (General Prohibition 3) and footnote 1
to supplement no. 4 to part 744 (the Entity List). The FDP rule
relocated the license requirement, license review policy, and license
exception applicability provisions for certain listed entities from the
Entity List's footnote 1 to Sec.  744.11(a) of the EAR, where the
overall license requirements pertaining to listed entities are located.
In addition, the FDP rule moved the description of the product scope
and end-user scope of the Entity List FDP requirements from the
aforementioned footnote 1 to Sec.  734.9 of the EAR, where the FDP
provisions are now consolidated. However, the scope of the global
amendatory instruction that made conforming changes to the Entity List
table in supplement no. 4 to part 744 did not include the entry for
``Huawei Cloud Brazil'' (under Brazil). As a result, the reference to
Sec.  736.2(b)(3), in the ``License requirement'' column for this
entity was not removed and replaced with a reference to Sec.  734.9(e)
as should have been the case.
    Although the February 14, 2022, Entity List rule included a
revision of the entry for ``Huawei Cloud Brazil'' (under Brazil), the
rule inadvertently failed to change the reference in the ``License
requirement'' column for this entity from Sec.  736.2(b)(3) to Sec.
734.9(e). Furthermore, the addition of a new entry for ``Huawei
Technologies Co., Ltd.'' (under China, People's Republic of) to the
Entity List, also incorrectly referenced Sec.  736.2(b)(3), instead of
Sec.  734.9(e), in the ``License requirement'' column for the entity.
    These correcting amendments revise the ``License requirement''
column in each of the aforementioned Entity List entries to correctly
reference Sec.  734.9(e), instead of Sec.  736.2(b)(3). These
amendments also correct a typographical error, in the ``License
requirement'' column for ``Huawei Technologies Co., Ltd.'' (under
China, People's Republic of), by revising the phrase ``except for'' to
read ``EXCEPT\2\ for'', consistent with the application of Entity List
footnote 2 to this entity (i.e., with respect to the provision of
ongoing security research critical to maintaining the integrity and
reliability of an existing and currently fully operational `third
party' network and equipment providing services to the `third party's'
customers--in this instance, the term `third party' refers to a party
that is not Huawei, one of its listed non-U.S. affiliates, or the
exporter, reexporter, or transferor, but rather an organization such as
a telecommunications service provider).

List of Subjects in 15 CFR Part 744

    Exports, Reporting and recordkeeping requirements, Terrorism.

    For the reasons stated in the preamble, part 744 of the Export
Administration Regulations (15 CFR parts 730-774) is corrected by
making the following correcting amendments:

PART 744--[AMENDED]

0
1. The authority citation for 15 CFR part 744 continues to read as
follows:

    Authority: 50 U.S.C. 4801-4852; 50 U.S.C. 4601 et seq.; 50
U.S.C. 1701 et seq.; 22 U.S.C. 3201 et seq.; 42 U.S.C. 2139a; 22
U.S.C. 7201 et seq.; 22 U.S.C. 7210; E.O. 12058, 43 FR 20947, 3 CFR,
1978 Comp., p. 179; E.O. 12851, 58 FR 33181, 3 CFR, 1993 Comp., p.
608; E.O. 12938, 59 FR 59099, 3 CFR, 1994 Comp., p. 950; E.O. 13026,
61 FR 58767, 3 CFR, 1996 Comp., p. 228; E.O. 13099, 63 FR 45167, 3
CFR, 1998 Comp., p. 208; E.O. 13222, 66 FR 44025, 3 CFR, 2001 Comp.,
p. 783; E.O. 13224, 66 FR 49079, 3 CFR, 2001 Comp., p. 786; Notice
of September 15, 2021, 86 FR 52069 (September 17, 2021); Notice of
November 10, 2021, 86 FR 62891 (November 12, 2021).

0
2. Supplement no. 4 to part 744 is amended:
0
a. Under BRAZIL by revising the entry for ``Huawei Cloud Brazil''; and
0
b. Under CHINA, PEOPLE'S REPUBLIC OF by revising the entry for ``Huawei
Technologies Co., Ltd.''.
    The revisions read as follows:

Supplement No. 4 to Part 744--Entity List

* * * * *

----------------------------------------------------------------------------------------------------------------
                                                             License         License review     Federal Register
        Country                     Entity                 requirement           policy             citation
----------------------------------------------------------------------------------------------------------------

                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------
BRAZIL.................  Huawei Cloud Brazil, Sao      For all items       Presumption of      85 FR 51603, 8/20/
                          Paulo, Brazil.                subject to the      denial.             20.
                                                        EAR, see Sec.                          87 FR 8182, 2/14/
                                                        Sec.                                    22.
                                                        734.9(e),\1\ and                       87 FR [INSERT FR
                                                        744.11 of the                           PAGE NUMBER] 4/
                                                        EAR, EXCEPT \2\                         11/22.
                                                        for technology
                                                        subject to the
                                                        EAR that is
                                                        designated as
                                                        EAR99, or
                                                        controlled on the
                                                        Commerce Control
                                                        List for anti-
                                                        terrorism reasons
                                                        only, when
                                                        released to
                                                        members of a
                                                        ``standards
                                                        organization''
                                                        (see Sec.
                                                        772.1) for the
                                                        purpose of
                                                        contributing to
                                                        the revision or
                                                        development of a
                                                        ``standard'' (see
                                                        Sec.   772.1).
                                                                * * * * * *
----------------------------------------------------------------------------------------------------------------

                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------
CHINA, PEOPLE'S                                                 * * * * * *
 REPUBLIC OF.
                         Huawei Technologies Co.,      For all items       Presumption of      84 FR 22963, 5/21/
                          Ltd., a.k.a., the following   subject to the      denial.             19.
                          two aliases:                  EAR, see Sec.                          84 FR 43495, 8/21/
                         --Shenzhen Huawei              Sec.                                    19.
                          Technologies; and             734.9(e),\1\ and                       85 FR 29853, 5/19/
                         --Huawei Technology, and to    744.11 of the                           20.
                          include the following         EAR, EXCEPT \2\                        85 FR 36720, 6/18/
                          addresses and the following   for technology                          20.
                          22 affiliated entities:       subject to the                         85 FR 51603, 8/20/
                         Addresses for Huawei           EAR that is                             20.
                          Technologies Co., Ltd.:       designated as                          87 FR 8182, 2/14/
                          Bantian Huawei Base,          EAR99, or                               22.
                          Longgang District,            controlled on the                      87 FR [INSERT FR
                          Shenzhen, 518129, China;      Commerce Control                        PAGE NUMBER] 4/
                          and No. 1899 Xi Yuan Road,    List for anti-                          11/22.
                          High-Tech West District,      terrorism reasons
                          Chengdu, 611731; and C1,      only, when
                          Wuhan Future City, No. 999    released to
                          Gaoxin Ave., Wuhan, Hebei     members of a
                          Province; and Banxuegang      ``standards
                          Industrial Park, Buji         organization''
                          Longgang, Shenzhen,           (see Sec.
                          Guangdong, 518129, China;     772.1) for the
                          and R&D Center, No. 2222,     purpose of
                          Golden Bridge Road, Pu Dong   contributing to
                          District, Shanghai, China;    the revision or
                          and Zone G, Huawei Base,      development of a
                          Bantian, Longgang District,   ``standard'' (see
                          Shenzhen, China; and Tsim     Sec.   772.1).
                          Sha Tsui, Kowloon, Hong
                          Kong.

                         Affiliated entities:
                         Beijing Huawei Longshine
                          Information Technology Co.,
                          Ltd., a.k.a., the following
                          one alias:
                         --Beijing Huawei Longshine,
                          to include the following
                          subordinate. Q80-3-25R, 3rd
                          Floor, No. 3, Shangdi
                          Information Road, Haidian
                          District, Beijing, China.
                         Hangzhou New Longshine
                          Information Technology Co.,
                          Ltd., Room 605, No. 21,
                          Xinba, Xiachang District,
                          Hangzhou, China.
                         Hangzhou Huawei
                          Communication Technology
                          Co., Ltd., Building 1, No.
                          410, Jianghong Road,
                          Changhe Street, Binjiang
                          District, Hangzhou,
                          Zhejiang, China.
                         Hangzhou Huawei Enterprises,
                          No. 410 Jianghong Road,
                          Building 1, Hangzhou,
                          China.
                         Huawei Digital Technologies
                          (Suzhou) Co., Ltd., No. 328
                          XINHU STREET, Building A3,
                          Suzhou (Huawei R&D Center,
                          Building A3, Creative
                          Industrial Park, No. 328,
                          Xinghu Street, Suzhou),
                          Suzhou, Jiangsu, China.
                         Huawei Marine Networks Co.,
                          Ltd., a.k.a., the following
                          four aliases:
                         --Huawei Marine;
                         --HMN Technologies;
                         --Huahai Zhihui Technology
                          Co., Ltd.,; and
                         --HMN Tech. Building R4, No.
                          2 City Avenue, Songshan
                          Lake Science & Tech
                          Industry Park, Dongguan,
                          523808, and No. 62, Second
                          Ave., 5/F-6/F, TEDA, MSD-B2
                          Area, Tianjin Economic and
                          Technological Development
                          Zone, Tianjin, 300457,
                          China.
                         Huawei Mobile Technology
                          Ltd., Huawei Base, Building
                          2, District B, Shenzhen,
                          China.
                         Huawei Tech. Investment Co.,
                          U1 Building, No. 1899
                          Xiyuan Avenue, West Gaoxin
                          District, Chengdu City,
                          611731, China.
                         Huawei Technology Co., Ltd.
                          Chengdu Research Institute,
                          No. 1899, Xiyuan Ave., Hi-
                          Tech Western District,
                          Chengdu, Sichuan Province,
                          610041, China.
                         Huawei Technology Co., Ltd.
                          Hangzhou Research
                          Institute, No. 410,
                          Jianghong Rd., Building 4,
                          Changhe St., Binjiang
                          District, Hangzhou,
                          Zhejiang Province, 310007,
                          China.
                         Huawei Technologies Co.,
                          Ltd. Beijing Research
                          Institute, No. 3, Xinxi
                          Rd., Huawei Building,
                          ShangDi Information
                          Industrial Base, Haidian
                          District, Beijing, 100095,
                          China; and No. 18, Muhe
                          Rd., Building 1-4, Haidian
                          District, Beijing, China.
                         Huawei Technologies Co.,
                          Ltd. Material
                          Characterization Lab,
                          Huawei Base, Bantian,
                          Shenzhen 518129, China.

                         Huawei Technologies Co.,
                          Ltd. Xi'an Research
                          Institute, National
                          Development Bank Building
                          (Zhicheng Building), No. 2,
                          Gaoxin 1st Road, Xi'an High-
                          tech Zone, Xi'an, China.
                         Huawei Terminal (Shenzhen)
                          Co., Ltd., Huawei Base, B1,
                          Shenzhen, China.
                         Nanchang Huawei
                          Communication Technology,
                          No. 188 Huoju Street, F10-
                          11, Nanchang, China.
                         Ningbo Huawei Computer & Net
                          Co., Ltd., No. 48 Daliang
                          Street, Ningbo, China.
                         Shanghai Huawei Technologies
                          Co., Ltd., R&D center, No.
                          2222, Golden Bridge Road,
                          Pu Dong District, Shanghai,
                          286305 Shanghai, China,
                          China.
                         Shenzhen Huawei Anjiexin
                          Electricity Co., Ltd.,
                          a.k.a., the following one
                          alias: -Shenzhen Huawei
                          Agisson Electric Co., Ltd.
                          Building 2, Area B, Putian
                          Huawei Base, Longgang
                          District, Shenzhen, China;
                          and Huawei Base, Building
                          2, District B, Shenzhen,
                          China.
                         Shenzhen Huawei New
                          Technology Co., Ltd.,
                          Huawei Production Center,
                          Gangtou Village, Buji Town,
                          Longgang District,
                          Shenzhen, China.
                         Shenzhen Huawei Technology
                          Service, Huawei Base,
                          Building 2, District B,
                          Shenzhen, China.
                         Shenzhen Huawei Technologies
                          Software, Huawei Base,
                          Building 2, District B,
                          Shenzhen, China.
                         Zhejiang Huawei
                          Communications Technology
                          Co., Ltd., No. 360 Jiangshu
                          Road, Building 5, Hangzhou,
                          Zhejiang, China.

                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------
\1\ For this entity, see Sec.   734.9(e) of the EAR for foreign-produced items that are subject to the EAR and
  Sec.   744.11 of the EAR for related license requirements, license review policy, and applicable license
  exceptions.
\2\ Cybersecurity research and vulnerability disclosure. The following exports, reexports, and transfers (in-
  country) to Huawei Technologies Co., Ltd. (Huawei) and its non-U.S. affiliates on the Entity List for
  cybersecurity research and vulnerability disclosure subject to other provisions of the EAR are excluded from
  the Entity List license requirements: when the disclosure to Huawei and/or to its listed non-U.S. affiliates
  is limited to information regarding security vulnerabilities in items owned, possessed, or controlled by
  Huawei or any of its non-U.S. affiliates when related to the process of providing ongoing security research
  critical to maintaining the integrity and reliability of existing and currently 'fully operational network'
  and equipment. A 'fully operational network' refers to a 'third party' network providing services to the
  'third party's' customers. The term 'third party' refers to a party that is not Huawei, one of its listed non-
  U.S. affiliates, or the exporter, reexporter, or transferor, but rather an organization such as a
  telecommunications service provider.

* * * * *

Thea D. Rozman Kendler,
Assistant Secretary for Export Administration.
[FR Doc. 2022-07643 Filed 4-8-22; 8:45 am]
BILLING CODE 3510-33-P


[Federal Register Volume 83, Number 247 (Thursday, December 27, 2018)]
[Notices]
[Page 66785]
[FR Doc No: C1-2018-26405]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84682; File No. SR-ISE-2018-95]

Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing
and Immediate Effectiveness of a Proposed Rule Change To Amend
Supplementary Material .07 to ISE Rule 722

November 29, 2018.

Correction

    In notice document 2018-26405 beginning on page 62938 in the issue
of Thursday, December 6, 2018, make the following correction:
    On page 62939, in the third column, the last line of the first full
paragraph ``December 26, 2018'' should read ``December 27, 2018''.

[FR Doc. C1-2018-26405 Filed 12-26-18; 8:45 am]
BILLING CODE 1301-00-D


                 UNITED STATES ENVIRONMENTAL PROTECTION AGENCY                                   REGION III                                1650 Arch Street                        Philadelphia, Pennsylvania, 19103

DATE:

March 30, 2020 SUBJECT: CBI Explanation Memo for Pennsylvania State Implementation Plan Revisions Related to Reasonably Available Control Technology (RACT) Determinations for Case-by-Case Sources under the 1997 and 2008 8-Hour Ozone National Ambient Air Quality Standards (NAAQS)

TO: File for Docket ID Number EPA-R03-OAR-2020-0189

                                        CBI has either been removed from the public files or a redacted version of documents with CBI have been add to the Docket file - ID Number  -  EPA-R03-OAR-2020-1089.

The following facility has a CBI document that has not been added to the Docket file for public consumption:

 Transco  -  Salladasburg Station 520

The following facilities have redacted CBI documents that have been added to the Docket file for public consumption:

 Novipax  Global Advanced Metals USA Inc.