[Federal Register Volume 79, Number 133 (Friday, July 11, 2014)]
[Rules and Regulations]
[Pages 39970-39972]
[FR Doc No: 2014-15916]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 97

[Docket No. 30963 Amdt. No. 3595]

Standard Instrument Approach Procedures, and Takeoff Minimums and
Obstacle Departure Procedures; Miscellaneous Amendments

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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

SUMMARY: This rule establishes, amends, suspends, or revokes Standard
Instrument Approach Procedures (SIAPs) and associated Takeoff Minimums
and Obstacle Departure Procedures for operations at certain airports.
These regulatory actions are needed because of the adoption of new or
revised criteria, or because of changes occurring in the National
Airspace System, such as the commissioning of new navigational
facilities, adding new obstacles, or changing air traffic requirements.
These changes are designed to provide safe and efficient use of the
navigable airspace and to promote safe flight operations under
instrument flight rules at the affected airports.

DATES: This rule is effective July 11, 2014. The compliance date for
each SIAP, associated Takeoff Minimums, and ODP is specified in the
amendatory provisions.
    The incorporation by reference of certain publications listed in
the regulations is approved by the Director of the Federal Register as
of July 11, 2014.

ADDRESSES: Availability of matters incorporated by reference in the
amendment is as follows:
For Examination--
    1. FAA Rules Docket, FAA Headquarters Building, 800 Independence
Avenue SW., Washington, DC 20591;
    2. The FAA Regional Office of the region in which the affected
airport is located;
    3. The National Flight Procedures Office, 6500 South MacArthur
Blvd., Oklahoma City, OK 73169 or,
    4. The National Archives and Records Administration (NARA). For
information on the availability of this material at NARA, call 202-741-
6030, or go to: http://www.archives.gov/federal_register/code_of_federal_regulations/ibr_locations.html.
    Availability--All SIAPs and Takeoff Minimums and ODPs are available
online free of charge. Visit http://www.nfdc.faa.gov to register.
Additionally, individual SIAP and Takeoff Minimums and ODP copies may
be obtained from:
    1. FAA Public Inquiry Center (APA-200), FAA Headquarters Building,
800

Independence Avenue SW., Washington, DC 20591; or
    2. The FAA Regional Office of the region in which the affected
airport is located.

FOR FURTHER INFORMATION CONTACT: Richard A. Dunham III, Flight
Procedure Standards Branch (AFS-420), Flight Technologies and Programs
Divisions, Flight Standards Service, Federal Aviation Administration,
Mike Monroney Aeronautical Center, 6500 South MacArthur Blvd. Oklahoma
City, OK. 73169 (Mail Address: P.O. Box 25082, Oklahoma City, OK 73125)
Telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: This rule amends Title 14 of the Code of
Federal Regulations, Part 97 (14 CFR part 97), by establishing,
amending, suspending, or revoking SIAPS, Takeoff Minimums and/or ODPS.
The complete regulators description of each SIAP and its associated
Takeoff Minimums or ODP for an identified airport is listed on FAA form
documents which are incorporated by reference in this amendment under 5
U.S.C. 552(a), 1 CFR part 51, and 14 CFR 97.20. The applicable FAA
Forms are FAA Forms 8260-3, 8260-4, 8260-5, 8260-15A, and 8260-15B when
required by an entry on 8260-15A.
    The large number of SIAPs, Takeoff Minimums and ODPs, in addition
to their complex nature and the need for a special format make
publication in the Federal Register expensive and impractical.
Furthermore, airmen do not use the regulatory text of the SIAPs,
Takeoff Minimums or ODPs, but instead refer to their depiction on
charts printed by publishers of aeronautical materials. The advantages
of incorporation by reference are realized and publication of the
complete description of each SIAP, Takeoff Minimums and ODP listed on
FAA forms is unnecessary. This amendment provides the affected CFR
sections and specifies the types of SIAPs and the effective dates of
the, associated Takeoff Minimums and ODPs. This amendment also
identifies the airport and its location, the procedure, and the
amendment number.

The Rule

    This amendment to 14 CFR part 97 is effective upon publication of
each separate SIAP, Takeoff Minimums and ODP as contained in the
transmittal. Some SIAP and Takeoff Minimums and textual ODP amendments
may have been issued previously by the FAA in a Flight Data Center
(FDC) Notice to Airmen (NOTAM) as an emergency action of immediate
flight safety relating directly to published aeronautical charts. The
circumstances which created the need for some SIAP and Takeoff Minimums
and ODP amendments may require making them effective in less than 30
days. For the remaining SIAPS and Takeoff Minimums and ODPS, an
effective date at least 30 days after publication is provided.
    Further, the SIAPs and Takeoff Minimums and ODPS contained in this
amendment are based on the criteria contained in the U.S. Standard for
Terminal Instrument Procedures (TERPS). In developing these SIAPS and
Takeoff Minimums and ODPs, the TERPS criteria were applied to the
conditions existing or anticipated at the affected airports. Because of
the close and immediate relationship between these SIAPs, Takeoff
Minimums and ODPs, and safety in air commerce, I find that notice and
public procedures before adopting these SIAPS, Takeoff Minimums and
ODPs are impracticable and contrary to the public interest and, where
applicable, that good cause exists for making some SIAPs effective in
less than 30 days.

Conclusion

    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current.
It, therefore--(1) is not a ``significant regulatory action'' under
Executive Order 12866; (2) is not a ``significant rule '' under DOT
Regulatory Policies and Procedures (44 FR 11034; February 26,1979) ;
and (3) does not warrant preparation of a regulatory evaluation as the
anticipated impact is so minimal. For the same reason, the FAA
certifies that this amendment will not have a significant economic
impact on a substantial number of small entities under the criteria of
the Regulatory Flexibility Act.

List of Subjects in 14 CFR part 97

    Air Traffic Control, Airports, Incorporation by reference, and
Navigation (Air).

    Issued in Washington, DC, on June 6, 2014.
John Duncan,
Director, Flight Standards Service.

Adoption of the Amendment

    Accordingly, pursuant to the authority delegated to me, Title 14,
Code of Federal Regulations, Part 97 (14 CFR part 97) is amended by
establishing, amending, suspending, or revoking Standard Instrument
Approach Procedures and/or Takeoff Minimums and/or Obstacle Departure
Procedures effective at 0902 UTC on the dates specified, as follows:

PART 97--STANDARD INSTRUMENT APPROACH PROCEDURES

0
1. The authority citation for part 97 continues to read as follows:

    Authority:  49 U.S.C. 106(g), 40103, 40106, 40113, 40114, 40120,
44502, 44514, 44701, 44719, 44721-44722.

0
2. Part 97 is amended to read as follows:

Effective 24 JULY 2014

Akutan, AK, Akutan, RNAV (GPS) RWY 9, Orig
Akutan, AK, Akutan, RNAV (GPS) RWY 27, Orig
Troy, AL, Troy Municipal at N. Kenneth Campbell Field, RADAR-1, Amdt
10
Beckwourth, CA, Nervino, RNAV (GPS) Y RWY 26, Orig-C
Beckwourth, CA, Nervino, RNAV (GPS) Z RWY 26, Orig-B
Napa, CA, Napa County, RNAV (GPS) Z RWY 36L, Amdt 1A
San Francisco, CA, San Francisco Intl, Takeoff Minimums and Obstacle
DP, Amdt 9
Santa Maria, CA, Santa Maria Pub/Capt G Allan Hancock Fld, RNAV
(GPS) RWY 30, Orig-A
Tampa, FL, Tampa Executive, RNAV (GPS) RWY 18, Amdt 1A
Thomson, GA, Thomson-McDuffie County, RNAV (GPS) RWY 28, Orig-A
Valdosta, GA, Valdosta Rgnl, RNAV (GPS) RWY 4, Amdt 1A
Dubuque, IA, Dubuque Rgnl, LOC RWY 31, Amdt 1
Chicago, IL, Chicago Midway Intl, Takeoff Minimums and Obstacle DP,
Amdt 11
Washington, KS, Washington County Veteran's Memorial, RNAV (GPS) RWY
17, Amdt 1
Washington, KS, Washington County Veteran's Memorial, RNAV (GPS) RWY
35, Amdt 1
Falmouth, MA, Cape Cod Coast Guard Air Station, RNAV (GPS) RWY 5,
Orig
Falmouth, MA, Cape Cod Coast Guard Air Station, RNAV (GPS) RWY 14,
Orig
Falmouth, MA, Cape Cod Coast Guard Air Station, RNAV (GPS) RWY 23,
Orig
Falmouth, MA, Cape Cod Coast Guard Air Station, RNAV (GPS) RWY 32,
Orig
Cumberland, MD, Greater Cumberland Rgnl, RNAV (GPS) RWY 23, Orig-C
Port Huron, MI, St Clair County Intl, RNAV (GPS) RWY 4, Amdt 1
Excelsior Springs, MO, Excelsior Springs Memorial, Takeoff Minimums
and Obstacle DP, Amdt 1
Okolona, MS, Okolona Muni--Richard Stovall Field, Takeoff Minimums
and Obstacle DP, Amdt 1
Elizabeth City, NC, Elizabeth City CG Air Station/Rgnl, VOR/DME RWY
1, Amdt 12
Schenectady, NY, Schenectady County, ILS OR LOC RWY 4, Amdt 5C
Aguadilla, PR, Rafael Hernandez, RNAV (GPS) RWY 26, Orig-A
Columbia, SC, Jim Hamilton L.B. Owens, RADAR-1, Amdt 2A, CANCELED

Nashville, TN, Nashville Intl, ILS OR LOC RWY 2C, Amdt 1B
Nashville, TN, Nashville Intl, ILS OR LOC RWY 20R, Amdt 10B
Nashville, TN, Nashville Intl, ILS OR LOC RWY 2L, ILS RWY 2L (SA CAT
I), ILS RWY 2L (CAT II), ILS RWY 2L (CAT III), Amdt 10
Nashville, TN, Nashville Intl, ILS OR LOC/DME RWY 2R, ILS RWY 2R (SA
CAT I), ILS RWY 2R (CAT II), ILS RWY 2R (CAT III), Amdt 8
Nashville, TN, Nashville Intl, ILS OR LOC/DME RWY 20L, Amdt 6
Nashville, TN, Nashville Intl, RNAV (GPS) RWY 20C, Orig-A
Nashville, TN, Nashville Intl, RNAV (GPS) Y RWY 2L, Amdt 2
Nashville, TN, Nashville Intl, RNAV (GPS) Y RWY 2R, Amdt 2
Nashville, TN, Nashville Intl, RNAV (GPS) Y RWY 20L, Amdt 2
Nashville, TN, Nashville Intl, RNAV (GPS) Y RWY 20R, Amdt 2B
Nashville, TN, Nashville Intl, RNAV (RNP) Z RWY 2C, Amdt 2
Nashville, TN, Nashville Intl, RNAV (RNP) Z RWY 2L, Amdt 2
Nashville, TN, Nashville Intl, RNAV (RNP) Z RWY 2R, Amdt 2
Nashville, TN, Nashville Intl, RNAV (RNP) Z RWY 20L, Amdt 2
Nashville, TN, Nashville Intl, RNAV (RNP) Z RWY 20R, Amdt 2
Smyrna, TN, Smyrna, RNAV (GPS) RWY 14, Amdt 1
Smyrna, TN, Smyrna, RNAV (GPS) RWY 32, Amdt 1
Danville, VA, Danville Rgnl, Takeoff Minimums and Obstacle DP, Amdt
2
Pullman/Moscow, ID, WA, Pullman/Moscow Rgnl, RNAV (GPS) RWY 24, Amdt
1A
Lewisburg, WV, Greenbrier Valley, ILS OR LOC RWY 4, Amdt 11
Lewisburg, WV, Greenbrier Valley, VOR RWY 4, Amdt 2

[FR Doc. 2014-15916 Filed 7-10-14; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 81, Number 200 (Monday, October 17, 2016)]
[Notices]
[Pages 71498-71499]
[FR Doc No: 2016-25028]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 3777-010]

Consolidated Hydro New Hampshire, LLC; Notice of Intent To File
License Application, Filing of Pre-Application Document, Approving Use
of the Traditional Licensing Process

    a. Type of Filing: Notice of Intent to File License Application and
Request to Use the Traditional Licensing Process.
    b. Project No.: 3777-010.
    c. Date Filed: August 31, 2016.
    d. Submitted By: Consolidated Hydro New Hampshire, LLC.
    e. Name of Project: Rollinsford Hydroelectric Project.
    f. Location: On the Salmon Falls River, in Strafford County, New
Hampshire and York County, Maine. No federal lands are occupied by the
project works or located within the project boundary.
    g. Filed Pursuant to: 18 CFR 5.3 of the Commission's regulations.
    h. Potential Applicant Contact: Kevin Webb, Enel Green Power North
America, Inc., One Tech Drive, Suite 200, Andover, MA 01810; (978) 681-
1900<EMAIL_ADDRESS>    i. FERC Contact: Dr. Nicholas Palso at<PHONE_NUMBER>; or email at
<EMAIL_ADDRESS>    j. Consolidated Hydro New Hampshire, LLC filed its request to use
the Traditional Licensing Process on August 31, 2016. Consolidated
Hydro New Hampshire, LLC provided public notice of its request on
August 24, 2016. In a letter issued on October 11, 2016, the Director
of the Division of Hydropower Licensing approved Consolidated Hydro New
Hampshire,

LLC's request to use the Traditional Licensing Process.
    k. With this notice, we are initiating informal consultation with
the U.S. Fish and Wildlife Service and NOAA Fisheries under section 7
of the Endangered Species Act and the joint agency regulations
thereunder at 50 CFR, Part 402; and NOAA Fisheries under section 305(b)
of the Magnuson-Stevens Fishery Conservation and Management Act and
implementing regulations at 50 CFR 600.920. We are also initiating
consultation with the New Hampshire and Maine State Historic
Preservation Officers, as required by section 106, National Historic
Preservation Act, and the implementing regulations of the Advisory
Council on Historic Preservation at 36 CFR 800.2.
    l. With this notice, we are designating Consolidated Hydro New
Hampshire, LLC as the Commission's non-federal representative for
carrying out informal consultation pursuant to section 7 of the
Endangered Species Act and section 305(b) of the Magnuson-Stevens
Fishery Conservation and Management Act; and consultation pursuant to
section 106 of the National Historic Preservation Act.
    m. Consolidated Hydro New Hampshire, LLC filed a Pre-Application
Document (PAD; including a proposed process plan and schedule) with the
Commission, pursuant to 18 CFR 5.6 of the Commission's regulations.
    n. A copy of the PAD is available for review at the Commission in
the Public Reference Room or may be viewed on the Commission's Web site
(http://www.ferc.gov), using the ``eLibrary'' link. Enter the docket
number, excluding the last three digits in the docket number field to
access the document. For assistance, contact FERC Online Support at
<EMAIL_ADDRESS>(866) 208-3676 (toll free), or (202) 502-
8659 (TTY). A copy is also available for inspection and reproduction at
the address in paragraph h.
    o. The licensee states its unequivocal intent to submit an
application for a new license for Project No. 3777. Pursuant to 18 CFR
16.8, 16.9, and 16.10, each application for a new license and any
competing license applications must be filed with the Commission at
least 24 months prior to the expiration of the existing license. All
applications for license for this project must be filed by August 31,
2019.
    p. Register online at http://www.ferc.gov/docs-filing/esubscription.asp to be notified via email of new filing and issuances
related to this or other pending projects. For assistance, contact FERC
Online Support.

    Dated: October 11, 2016.
Kimberly D. Bose,
 Secretary.
[FR Doc. 2016-25028 Filed 10-14-16; 8:45 am]
BILLING CODE 6717-01-P


                             PUBLIC PARTICIPATION

    Control Technique Guidelines (CTGs) and Oxides of Nitrogen (NOx) Reasonably Available Control Technology (RACT)

The New Jersey Department of Environmental Protection (Department) proposed new rules and amendments regarding Control and Prohibition of Air Pollution by Volatile Organic Compounds and Oxides of Nitrogen (49 N.J.R. 14(a), January 3, 2017.)  A public hearing on these rules and proposed State Implementation Plan (SIP) revision was held on February 13, 2017 at 10:00 a.m. at the Department's Public Hearing Room, 1st Floor, 401 East State Street, Trenton.  This hearing was held in accordance with the provisions of Section 110(a)(2) of the Clean Air Act, 42 U.S.C. §7410; 40 C.F.R. §51.102(a)(1), the Air Pollution Control Act (1954), N.J.S.A. 26:2C-1 et seq., and the Administrative Procedure Act, N.J.S.A. 52:14 B-1 et seq.  Written comments relevant to the proposal were accepted until the close of business, March 4, 2017.

Notice of the proposed rule, SIP and the public hearing was published on the Department's website and issued on several Department's air quality listservs.  In addition, interested parties not on the Department's listservs were emailed the notice, along with air quality contacts from other states, air quality regional organizations and contacts at the United States Environmental Protection Agency (EPA).  Additional notification consisted of emailing the notice to newspapers at the New Jersey State House and emailing notice to contacts at public libraries throughout the State and to the Department's three regional Compliance and Enforcement offices.  These notices were issued at least 30 days prior to the public hearing and close of comment period.

Included in this enclosure as documentation of the public notice are:

   1A. The public notice posted on the website announcing the availability of the proposed rule and SIP revision and the public hearing;
   1B. The NJDEP webpage postings;
   1C. The NJDEP listserv emails.

The Department's responses to comments received during the public comment period are shown in the rule adoption, published in the New Jersey Register on November 6, 2017 (49 N.J.R. 3518(a)).

    Fine Particles (PM2.5) in Air Permitting, Sulfur (Startup/Shutdown/Malfunction (SSM) Exemption), and Emission Statements

The New Jersey Department of Environmental Protection (Department) proposed new rules and amendments regarding PM2.5 in Air Permitting, Sulfur SSM Exemption, and Emission Statements (49 N.J.R. 515, March 20, 2017.)  A public hearing on these rules and proposed State Implementation Plan (SIP) revision was held on May 9, 2017 at 10:00 a.m. at the Department's 2[nd] Floor Large Conference Room, 401 East State Street, Trenton.  This hearing was held in accordance with the provisions of Section 110(a)(2) of the Clean Air Act, 42 U.S.C. §7410; 40 C.F.R. §51.102(a)(1), the Air Pollution Control Act (1954), N.J.S.A. 26:2C-1 et seq., and the Administrative Procedure Act, N.J.S.A. 52:14 B-1 et seq.  Written comments relevant to the proposal were accepted until the close of business, May 19, 2017.

Notice of the proposed rule, SIP and the public hearing was published on the Department's website and issued on several Department's air quality listservs.  In addition, interested parties not on the Department's listservs were emailed the notice, along with air quality contacts from other states, air quality regional organizations and contacts at the United States Environmental Protection Agency (EPA).  Additional notification consisted of emailing the notice to newspapers at the New Jersey State House and emailing notice to contacts at public libraries throughout the State and to the Department's three regional Compliance and Enforcement offices.  These notices were issued at least 30 days prior to the public hearing and close of comment period.

Included in this enclosure as documentation of the public notice are:

   2A. The public notice posted on the website announcing the availability of the proposed rule and SIP revision and the public hearing;
   2B. The NJDEP webpage postings;
   2C. The NJDEP listserv emails.

The Department's responses to comments received during the public comment period are shown in the rule adoption, published in the New Jersey Register on November 6, 2017 (49 N.J.R. 3511(a)).


[Federal Register Volume 82, Number 117 (Tuesday, June 20, 2017)]
[Notices]
[Pages 28147-28150]
[FR Doc No: 2017-12760]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80919; File No. SR-BatsBZX-2017-41)]

Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change Related to
Fees for Use on Bats BZX Exchange, Inc.'s Options Platform

June 14, 2017.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\

notice is hereby given that on June 1, 2017, Bats BZX Exchange, Inc.
(the ``Exchange'' or ``BZX'') filed with the Securities and Exchange
Commission (the ``Commission'') the proposed rule change as described
in Items I, II, and III below, which Items have been prepared by the
Exchange. The Exchange has designated the proposed rule change as one
establishing or changing a member due, fee, or other charge imposed by
the Exchange under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-
4(f)(2) thereunder,\4\ which renders the proposed rule change effective
upon filing with the Commission. The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange filed a proposal to amend its fees and rebates
applicable to Members \5\ and non-Members of the Exchange pursuant to
BZX Rule 15.1(a) and (c). The text of the proposed rule change is
attached as Exhibit 5.
---------------------------------------------------------------------------

    \5\ The term ``Member'' is defined as ``any registered broker or
dealer that has been admitted to membership in the Exchange.'' See
Exchange Rule 1.5(n).
---------------------------------------------------------------------------

    The text of the proposed rule change is available at the Exchange's
Web site at www.bats.com, at the principal office of the Exchange, and
at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to amend its fee schedule for its equity
options platform (``BZX Options'') to: (i) Increase the standard fee
provided by fee code PC; (ii) decrease the standard rebate provided by
fee code PN; (iii) modify the conditions and rebates of the Firm,\6\
Broker Dealer \7\ and Joint Back Office \8\ Non-Penny Pilot \9\ Add
Volume Tiers 1 and 2 under footnote 8; and (iv) eliminate the (A) Firm,
Broker Dealer and Joint Back Office, Penny Pilot Add Volume Tier 2
under footnote 2; (B) Away Market Maker \10\ Penny Pilot Add Volume
Tiers 1 and 3 under footnote 10; and (C) Customer \11\ Penny Pilot Take
Volume Tier under footnote 14.
---------------------------------------------------------------------------

    \6\ ``Firm'' applies to any transaction identified by a Member
for clearing in the Firm range at the OCC, excluding any Joint Back
Office transaction. See the Exchange's fee schedule available at
http://www.bats.com/us/options/membership/fee_schedule/bzx/.
    \7\ ``Broker Dealer'' applies to any order for the account of a
broker dealer, including a foreign broker dealer, that clears in the
Customer range at the Options Clearing Corporation (``OCC''). Id.
    \8\ ``Joint Back Office'' applies to any transaction identified
by a Member for clearing in the Firm range at the OCC that is
identified with an origin code as Joint Back Office. A Joint Back
Office participant is a Member that maintains a Joint Back Office
arrangement with a clearing broker-dealer. Id.
    \9\ ``Penny Pilot Securities'' are those issues quoted pursuant
to Exchange Rule 21.5, Interpretation and Policy .01. Id.
    \10\ ``Away Market Maker'' applies to any transaction identified
by a Member for clearing in the Market Maker range at the OCC, where
such Member is not registered with the Exchange as a Market Maker,
but is registered as a market maker on another options exchange. Id.
    \11\ ``Customer'' applies to any transaction identified by a
Member for clearing in the Customer range at the OCC, excluding any
transaction for a Broker Dealer or a ``Professional'' as defined in
Exchange Rule 16.1. See the Exchange's fee schedule available at
http://www.bats.com/us/options/membership/fee_schedule/bzx/.
---------------------------------------------------------------------------

Fee Code PC
    Currently, fee code PC charges a standard fee of $0.49 per contract
for Customer orders that remove liquidity on the Exchange in Penny-
Pilot securities.\12\ The Exchange proposes to increase this fee to
$0.50 per contract. The Exchange also proposes to update the Standard
Rates table accordingly to reflect new rate.
---------------------------------------------------------------------------

    \12\ ``Penny Pilot Securities'' are those issues quoted pursuant
to Exchange Rule 21.5, Interpretation and Policy .01. Id.
---------------------------------------------------------------------------

Fee Code PN
    Currently, fee code PN provides a standard rebate of $0.30 per
contract for Away Market Maker orders that add liquidity on the
Exchange in Penny-Pilot securities. The Exchange proposes to reduce
this rebate to $0.26 per contract. The Exchange also proposes to update
the Standard Rates table accordingly to reflect new rate.
Firm, Broker Dealer and Joint Back Office Non-Penny Add Volume Tiers
    The Exchange currently offers three Firm, Broker Dealer and Joint
Back Office Non-Penny Add Volume Tiers under footnote 8, which provide
an enhanced rebate ranging from $0.45 to $0.82 per contract for
qualifying orders that add liquidity in Non Penny Pilot Securities and
yields fee code NF.\13\ The Exchange now proposes to modify Tier 1 and
Tier 2's required criteria and rebate.
---------------------------------------------------------------------------

    \13\ Fee code NF is appended to Firm, Broker Dealer and Joint
Back Office orders in Non-Penny Pilot Securities that add liquidity.
Orders that yield fee code NF are provided a rebate of $0.30 per
contract. Id.
---------------------------------------------------------------------------

    Currently under Tier 1, Member's orders that yield fee code NF will
receive an enhanced rebate of $0.45 per contract where they have an ADV
\14\ greater than or equal to 0.20% of average OCV.\15\ First, the
Exchange proposes to reduce the rebate provided under Tier 1 from $0.45
per contract to $0.33 per contract. The Exchange also proposes to
update the Standard Rates table accordingly to reflect the new rate.
Second, the Exchange proposes to increase the tier's ADV requirement
from 0.20% to 1.00%. Going forward, Member's orders that yield fee code
NF will receive an enhanced rebate of $0.33 per contract where they
have an ADV greater than or equal to 1.00% of average OCV.
---------------------------------------------------------------------------

    \14\ ``ADV'' means average daily volume calculated as the number
of contracts added or removed, combined, per day. Id.
    \15\ ``OCV'' means the total equity and ETF options volume that
clears in the Customer range at the Options Clearing Corporation
(``OCC'') for the month for which the fees apply, excluding volume
on any day that the Exchange experiences an Exchange System
Disruption and on any day with a scheduled early market close. Id.
---------------------------------------------------------------------------

    Currently under Tier 2, Member's orders that yield fee code NF will
receive an enhanced rebate of $0.60 per contract where they have an ADV
greater than or equal to 0.35% of average OCV. First, the Exchange
proposes to reduce the rebate provided under Tier 1 from $0.60 per
contract to $0.53 per contract. The Exchange also proposes to update
the Standard Rates table accordingly to reflect the new rate. Second,
the Exchange proposes to amend the Tier's criteria by increasing the
tier's current ADV requirement from 0.35% to 3.00% and to add a second
criteria under which the Member must also have an ADAV \16\ in Market

Maker \17\ orders greater than or equal to 2.75% of average OCV. Going
forward, Member's orders that yield fee code NF will receive an
enhanced rebate of $0.53 per contract where they have an: (i) ADV
greater than or equal to 3.00% of average OCV; (ii) and ADAV in Market
Maker orders greater than or equal to 2.75% of average OCV.
---------------------------------------------------------------------------

    \16\ ``ADAV'' means average daily added volume calculated as the
number of contracts added and ``ADV'' means average daily volume
calculated as the number of contracts added or removed, combined,
per day. See the Exchange's fee schedule available at http://www.bats.com/us/options/membership/fee_schedule/bzx/.
    \17\ ``Market Maker'' applies to any transaction identified by a
Member for clearing in the Market Maker range at the OCC, where such
Member is registered with the Exchange as a Market Maker as defined
in Rule 16.1(a)(37). Id.
---------------------------------------------------------------------------

Firm, Broker Dealer and Joint Back Office, Penny Pilot Add Volume Tiers
    The Exchange currently offers two Firm, Broker Dealer and Joint
Back Office, Penny Pilot Add Volume Tiers under footnote 2, which
provide an additional rebate of $0.43 or $0.46 per contract for
qualifying Firm, Broker Dealer and Joint Back Office orders that add
liquidity in Penny Pilot Securities that yield fee code PF.\18\ The
Exchange now proposes to delete Tier 2 under footnote 2. Under Tier 2,
a Member's orders that yield fee code PF would have received an
enhanced rebate of $0.43 per contract where they have an: (i) An ADV
greater than or equal 0.50% of average OCV; and an (ii) ADAV in Away
Market Maker, Firm, Broker Dealer and Joint Back Office orders greater
than or equal to 0.40% of average OCV. The Exchange also proposes
update the Standard Rates table accordingly to reflect deletion of the
rate.
---------------------------------------------------------------------------

    \18\ Fee code PF is appended to Firm, Broker Dealer and Joint
Back Office orders in Penny Pilot Securities that add liquidity.
Orders that yield fee code PF are provided a rebate of $0.25 per
contract. Id.
---------------------------------------------------------------------------

Away Market Maker Penny Pilot Add Volume Tiers
    The Exchange currently offers three Away Market Maker Penny Pilot
Add Volume Tiers under footnote 10, which provide an enhanced rebate
ranging from $0.40 to $0.45 per contract for qualifying Away Market
Maker orders that add liquidity in Penny Pilot Securities that yield
fee code PN.\19\ The Exchange now proposes to delete current Tiers 1
and 3 under footnote 10 and to update the Standard Rates table
accordingly to reflect deletion of the rate. Under the current Tier 1,
a Member's orders that yield fee code PN would have received an
enhanced rebate of $0.40 per contract where they have an an [sic] ADV
greater than or equal 0.40% of average OCV. . [sic] Under the current
Tier 3, a Member's orders that yield fee code PN would have received an
enhanced rebate of $0.43 per contract where they have an: (i) An ADV
greater than or equal 0.50% of average OCV; and an (ii) ADAV in Away
Market Maker, Firm, Broker Dealer and Joint Back Office orders greater
than or equal to 0.40% of average OCV.
---------------------------------------------------------------------------

    \19\ Fee code PN is appended to Away Market Market orders in
Penny Pilot Securities that add liquidity. Orders that yield fee
code PN are provided a rebate of $0.30 per contract. Id.
---------------------------------------------------------------------------

Customer Penny Pilot Take Volume Tier
    The Exchange proposes to delete the tier described under footnote
14 of the fee schedule. The Exchange offers a single Customer Penny
Pilot Take Volume Tier under footnote 14, by which a Member's orders
that yield fee code PC \20\ would have received a reduced fee of $0.48
per contract where that Member had an: (i) ADAV in Customer orders
greater than or equal to 0.50% of average OCV; and (ii) on the
Exchange's equities trading platform (``BZX Equities'') an ADAV of
0.50% of average TCV.\21\ The Exchange also proposes to update the
Standard Rates table accordingly to reflect deletion of the rate.
---------------------------------------------------------------------------

    \20\ Fee code PC is appended to Customer orders in Penny Pilot
Securities that remove liquidity. Orders that yield fee code PC are
charged a fee of $0.49 per contract. Id.
    \21\ ``TCV'' means total consolidated volume calculated as the
volume reported by all exchanges to the consolidated transaction
reporting plan for the month for which the fees apply, excluding
volume on any day that the Exchange experiences an Exchange System
Disruption and on any day with a scheduled early market close. See
the Exchange's fee schedule available at http://www.bats.com/us/options/membership/fee_schedule/bzx/.
---------------------------------------------------------------------------

Implementation Date
    The Exchange proposes to implement the above changes to its fee
schedule on June 1, 2017.
2. Statutory Basis
    The Exchange believes that the proposed rule changes are consistent
with the objectives of Section 6 of the Act,\22\ in general, and
furthers the objectives of Section 6(b)(4),\23\ in particular, as it is
designed to provide for the equitable allocation of reasonable dues,
fees and other charges among its Members and other persons using its
facilities. The Exchange also notes that it operates in a highly-
competitive market in which market participants can readily direct
order flow to competing venues if they deem fee levels at a particular
venue to be excessive or incentives to be insufficient. The proposed
rule changes reflect a competitive pricing structure designed to
incentivize market participants to direct their order flow to the
Exchange.
---------------------------------------------------------------------------

    \22\ 15 U.S.C. 78f.
    \23\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

Fee Codes PC and PN
    The Exchange believes that its proposals to increase the fee
charged by fee code PC and decrease the rebate provided by fee code PN
are fair and equitable and reasonable because the proposed rates remain
consistent with pricing previously offered by the Exchange as well as
its competitors and does not represent a significant departure from the
Exchange's general pricing structure. Specifically, the proposed rebate
for fee code PN is higher than the rebate provided by the Nasdaq Stock
Market LLC (``Nasdaq'') to non-Nasdaq Market Markers that add liquidity
in Penny Pilot Securities on the Nasdaq Options Market (``NOM'').\24\
In addition, the proposed rate for fee code PC equals the rate NOM
charges for Customer orders that remove liquidity in Penny Pilot
Securities.\25\ Lastly, the proposed changes to fee codes PC and PN are
not unfairly discriminatory because they will apply equally to all
Members.
---------------------------------------------------------------------------

    \24\ See Section 2(1) of the NOM fee schedule available at
http://www.nasdaqtrader.com/Micro.aspx?id=OptionsPricing (providing
a standard rebate of $0.10 per contract to non-NOM market makers
that add liquidity).
    \25\ Id.
---------------------------------------------------------------------------

Tier Modifications
    The Exchange believes that the proposed modifications to the tiered
pricing structure are reasonable, fair and equitable, and non-
discriminatory. The Exchange operates in a highly competitive market in
which market participants may readily send order flow to many competing
venues if they deem fees at the Exchange to be excessive or incentives
provided to be insufficient. The proposed structure remains intended to
attract order flow to the Exchange by offering market participants a
competitive pricing structure. The Exchange believes it is reasonable
to offer and incrementally modify incentives intended to help to
contribute to the growth of the Exchange.
    Volume-based pricing such as that proposed herein have been widely
adopted by exchanges, including the Exchange, and are equitable because
they are open to all Members on an equal basis and provide additional
benefits or discounts that are reasonably related to: (i) The value to
an exchange's market quality; (ii) associated higher levels of market
activity, such as higher levels of liquidity provisions and/or growth
patterns; and (iii) introduction of higher volumes of orders into the
price

and volume discovery processes. In particular, the proposed changes to
footnote 8 are intended to further incentivize Members to send
increased order flow to the Exchange in an effort to qualify for the
enhanced rebates made available by the tiers, which in turn,
contributes to the growth of the Exchange. The Exchange also believes
the rebate associate with each tier is reasonable as they continue to
reflect the difficultly in achieving the corresponding tier. These
incentives remain reasonably related to the value to the Exchange's
market quality associated with higher levels of market activity,
including liquidity provision and the introduction of higher volumes of
orders into the price and volume discovery processes. The proposed
changes to the tiered pricing structure are not unfairly discriminatory
because they will apply equally to all Members.
    Lastly, the Exchange believes that eliminating Tier 2 under
footnote 2, Tiers 1 and 3 under footnote 10, and the Cross Asset Tier
under footnote 14 is reasonable, fair, and equitable because these
tiers were not providing the desired results of incentivizing Members
to increase their participation on the Exchange. As such, the Exchange
also believes that the proposed elimination of these tiers would be
non-discriminatory in that they currently apply equally to all Members
and, upon elimination, would no longer be available to any Members.
Further, their elimination could allow the Exchange to explore other
pricing mechanisms such as those described herein, in which it may
enhance market quality for all Members.

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

    The Exchange believes the proposed amendment to its fee schedule
would not impose any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act. The Exchange
does not believe that the proposed changes represent a significant
departure from previous pricing offered by the Exchange or pricing
offered by the Exchange's competitors. Additionally, Members may opt to
disfavor the Exchange's pricing if they believe that alternatives offer
them better value. Accordingly, the Exchange does not believe that the
proposed changes will impair the ability of Members or competing venues
to maintain their competitive standing in the financial markets. The
Exchange does not believe that the proposed changes to the Exchange's
standard fees, rebates and tiered pricing structure burdens
competition, but instead, enhances competition as it is intended to
increase the competitiveness of the Exchange.

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

    The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any written comments from members or other interested parties.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \26\ and paragraph (f) of Rule 19b-4
thereunder.\27\ 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.
---------------------------------------------------------------------------

    \26\ 15 U.S.C. 78s(b)(3)(A).
    \27\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-BatsBZX-2017-41 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-BatsBZX-2017-41. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-BatsBZX-2017-41 and should
be submitted on or before July 11, 2017.
---------------------------------------------------------------------------

    \28\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\28\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-12760 Filed 6-19-17; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 84, Number 160 (Monday, August 19, 2019)]
[Notices]
[Pages 42971-42974]
[FR Doc No: 2019-17682]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86644; File No. SR-CboeEDGX-2019-049]

Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To
Amend the Fee Schedule To Institute a Derived Data API Service

August 13, 2019.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on August 1, 2019, Cboe EDGX Exchange, Inc. (the ``Exchange'' or
``EDGX'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------

    \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

    Cboe EDGX Exchange, Inc. (``EDGX'' or the ``Exchange'') is filing
with the Securities and Exchange Commission (the ``Commission'') a
proposed rule change to amend the fee schedule to institute a Derived
Data API Service. The text of the proposed rule change is attached as
Exhibit 5 [sic].
    The text of the proposed rule change is also available on the
Exchange's website (http://markets.cboe.com/us/options/regulation/rule_filings/edgx/), at the Exchange's Office of the Secretary, and at
the Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of the proposed rule change is to implement a new
pricing structure that would reduce fees changed to Distributors that
distribute Derived Data through an Application Programming Interface
(``API'')--i.e., the Derived Data API Service (the ``Program'').
``Derived Data'' is pricing data or other data that (i) is created in
whole or in part from Exchange Data, (ii) is not an index or financial
product, and (iii) cannot be readily reverse-engineered to recreate
Exchange Data or used to create other data that is a reasonable
facsimile or substitute for Exchange Data. The Exchange currently
offers a Derived Data White Label Service Program that allows
Distributors to benefit from discounted fees when distributing Derived
Data taken from EDGX Top, which is a proprietary data product that
provides top of book quotations and execution information for all
equity securities traded on the

Exchange.\3\ The current program is limited to the distribution of
Derived Data to subscribers within a White Label Service which is a
type of hosted display solution in which a Distributor hosts or
maintains a website or platform on behalf of a third-party entity. The
Derived Data API Service would supplement the current Derived Data
White Label Service Program by offering discounted fees for
Distributors that make Derived Data available through an API,\4\
thereby allowing Distributors to benefit from reduced fees when
distributing Derived Data to subscribers that establish their own
platforms rather than relying on a hosted display solution.
---------------------------------------------------------------------------

    \3\ See Rule 13.8(c).
    \4\ With the proposed introduction of the Derived Data API
Service, the Exchange would bring together the EDGX Top Derived Data
White Label Service and Derived Data API Service under the common
heading ``Financial Product Distribution Program.'' The Financial
Product Distribution Program would encompass both of these products.
---------------------------------------------------------------------------

Current Fee Structure
    The Exchange currently charges a fee of $1,500 per month for
external distribution of EDGX Top. In addition, external distributors
of EDGX Top are charged a fee of $4 per month for each Professional
User and $0.10 per month for each Non-Professional User. The Exchange
also offers special pricing for Derived Data provided through a White
Label Service, as mentioned above. This service allows Distributors to
make Derived Data available on a platform that is branded with a third-
party brand, or co-branded with a third party and a Distributor.\5\ The
White Label Service Program can be used for a number of different
purposes, including the display of information or data, or the creation
of derivative instruments, such as swaps,\6\ swaptions,\7\ or contracts
for difference,\8\ but is unavailable to distributors that make such
information available through an API. Such distributors are not
eligible for discounted Derived Data pricing today, and are instead
liable for the fees normally applicable for the distribution of EDGX
Top, as listed at the beginning of this paragraph.
---------------------------------------------------------------------------

    \5\ The Distributor maintains control of the application's data,
entitlements and display.
    \6\ A swap is a derivative contract in which two parties agree
to exchange financial instruments.
    \7\ A swaption, or swap option, is an option to enter into a
swap at a specified time.
    \8\ A contract for difference is an agreement to exchange the
difference between the current value of an asset and its future
value. If the price increases, the seller pays the buyer the amount
of the increase. If the price decreases, the buyer pays the seller
the amount of the decrease.
---------------------------------------------------------------------------

Discounted Fees for Derived Data API Service
    As proposed, a Distributor that provides a Derived Data API Service
for Derived Data taken from EDGX Top would be liable for the following
fees instead of the fees normally applicable for the distribution of
EDGX Top. Instead of the regular fee for external distribution,
Distributors would be charged a tiered External Subscriber Fee based on
the number of API Service Platforms (i.e., ``External Subscribers'')
that receive Derived Data from the Distributor through a Derived Data
API Service. As proposed, Distributors would continue to be charged a
fee of $1,500 per month for each External Subscriber if the Distributor
makes Derived Data available to 1-5 External Subscribers. Distributors
that make Derived Data available to additional External Subscribers
would benefit from discounted pricing based on the number of External
Subscribers. Specifically, the external distribution fee would be
lowered by 16.67% to $1,250 per month for each External Subscriber if
the Distributor makes Derived Data available to 6-20 External
Subscribers, and further lowered another 16.67% to $1,000 per month for
each External Subscriber if the Distributor makes Derived Data
available to 21 or more External Subscribers. As is the case under the
Derived Data White Label Service, the External Subscriber Fee would be
non-progressive and based on the number of External Subscribers that
receive Derived Data from the Distributor. For example, a Distributor
providing Derived Data based on EDGX Top to six External Subscribers
that are API Service Platforms would be charged a monthly fee of $7,500
(i.e., 6 External Subscribers x $1,250 each). The Exchange would
continue to charge a monthly Professional User fee of $4 per month for
each Professional User that accesses Derived Data through an API
Service. The current Non-Professional User fee of $0.10 per month would
be eliminated when participating in the Derived Data API Service,
further reducing costs for Distributors that provide access to such
data to downstream investors.
    With the proposed introduction of the Derived Data API Service, the
Exchange would bring together the Derived Data White Label Service and
Derived Data API Service under the common heading ``Financial Product
Distribution Program.'' The Financial Product Distribution Program
would encompass both of these products. Similar to the Derived Data
White Label Service, the Derived Data API Service would be entirely
optional, in that it applies only to Distributors that opt to use
Derived Data from EDGX Top to create an API Service, as described
herein. It does not impact or raise the cost of any other Exchange
product, nor does it affect the cost of EDGX Top, except in instances
where Derived Data is made available on an API Service. A Distributor
that provides a White Label Service or API Service for Derived Data
taken from EDGX Top would be liable for the fees associated with the
White Label Service or API Service instead of the fees normally
applicable for the distribution of EDGX Top. A Distributor that
provides a White Label Service or API Service for EDGX Top data that is
not Derived Data or distributes Derived Data through a platform other
than a White Label Service or API Service would be liable for the fees
normally applicable for the distribution of EDGX Top.
Market Background
    The market for top of book data is highly competitive as national
securities exchanges compete both with each other and with the
securities information processors (``SIPs'') to provide efficient,
reliable, and low cost data to a wide range of investors and market
participants. In fact, Regulation NMS requires all U.S. equities
exchanges to provide their best bids and offers, and executed
transactions, to the two registered SIPs for dissemination to the
public. Top of book data is therefore widely available to investors
today at a relatively modest cost. National securities exchanges may
also disseminate their own top of book data, but no rule or regulation
of the Commission requires market participants to purchase top of book
data from an exchange. In an effort to widen distribution to market
participants that use equities market data to compute pricing for
certain derivatives instruments, national securities exchanges
including the Exchange, its affiliate, Cboe BZX Exchange Inc., and The
Nasdaq Stock Market LLC (``Nasdaq'') offer discounted pricing for
Derived Data that is created using their top of book products. The
Program would therefore compete with similar products offered by other
national securities exchanges that offer discounted fees to market
participants that purchase Derived Data.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the objectives of Section 6 of the Act,\9\ in general, and
furthers the objectives of

Section 6(b)(4),\10\ in particular, as it is designed to provide for
the equitable allocation of reasonable dues, fees and other charges
among its members and other recipients of Exchange data.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f.
    \10\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

    The Exchange also believes that the proposed rule change is
consistent with Section 11(A) of the Act.\11\ Specifically, the
proposed rule change supports (i) fair competition among brokers and
dealers, among exchange markets, and between exchange markets and
markets other than exchange markets, and (ii) the availability to
brokers, dealers, and investors of information with respect to
quotations for and transactions in securities. In addition, the
proposed rule change is consistent with Rule 603 of Regulation NMS,\12\
which provides that any national securities exchange that distributes
information with respect to quotations for or transactions in an NMS
stock do so on terms that are not unreasonably discriminatory.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78k-1.
    \12\ See 17 CFR 242.603.
---------------------------------------------------------------------------

    In adopting Regulation NMS, the Commission granted SROs and broker-
dealers increased authority and flexibility to offer new and unique
market data to the public. It was believed that this authority would
expand the amount of data available to consumers, and also spur
innovation and competition for the provision of market data. The
Exchange believes that the proposed fee change would further broaden
the availability of U.S. equity market data to investors, consistent
with the principles of Regulation NMS.
    The Exchange operates in a highly competitive environment. Indeed,
there are thirteen registered national securities exchanges that trade
U.S. equities and offer associated top of book market data products to
their customers. The national securities exchanges also compete with
the SIPs for market data customers. The Commission has repeatedly
expressed its preference for competition over regulatory intervention
in determining prices, products, and services in the securities
markets. Specifically, in Regulation NMS, the Commission highlighted
the importance of market forces in determining prices and SRO revenues
and, also, recognized that current regulation of the market system
``has been remarkably successful in promoting market competition in its
broader forms that are most important to investors and listed
companies.'' \13\ The proposed fee change is a result of the
competitive environment, as the Exchange seeks to amend its fees to
attract additional subscribers for one of its proprietary top of book
data offerings through the introduction of a Derived Data API Service.
---------------------------------------------------------------------------

    \13\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496, 37499 (June 29, 2005) (``Regulation NMS Adopting
Release'').
---------------------------------------------------------------------------

    The Exchange believes that it is reasonable to introduce reduced
fees for the use of Derived Data on API Services as the proposed fee
reduction would facilitate cost effective access to market information
that is used primarily to create certain derivative instruments rather
than to trade U.S. equity securities. The fees that are the subject of
this rule filing are constrained by competition, and it is this
competition that is driving the proposed fee change. Indeed, the
Program is designed to allow the Exchange to compete more effectively
for market data distributors that purchase market information to offer
Derived Data to investors. The existence of alternatives to the Program
ensures that the Exchange cannot set unreasonable or unfairly
discriminatory fees, as subscribers are free to elect such
alternatives. That is, the Exchange competes with other exchanges that
provide similar market data products and pricing programs. As mentioned
above, Derived Data is primarily purchased for the creation of certain
derivative instruments rather than for the trading of U.S. equity
securities. As a result, distributors of Derived Data do not need a
consolidated view of the market across multiple exchanges, and
generally purchase such data from a single exchange. If a competing
exchange were to charge less for a similar product than the Exchange
charges under the proposed fee structure, prospective subscribers may
choose not subscribe to, or cease subscribing to, the Program. The
Exchange believes that lowering the cost of accessing Derived Data may
make the Exchange's market information more attractive, and encourage
additional Distributors to subscribe to EDGX Top market data instead of
competitor products. Distributors can discontinue use at any time and
for any reason, including due to an assessment of the reasonableness of
fees charged. Furthermore, firms have a wide variety of alternative
market data products from which to choose, such as similar proprietary
data products offered by other national securities exchanges, including
those that choose to offer discounted fees for the distribution of
Derived Data in an effort to compete for this business.
    The proposed rule change would provide an alternate fee structure
for providing EDGX Top market data to Distributors that make Derived
Data available to External Subscribers via API Services. As proposed,
if a Distributor uses an API Service to distribute Derived Data, the
Distributor will be charged a fee that is tiered based on the number of
External Subscribers that are provided access to that data instead of
the higher fee normally charged for external distribution. The Exchange
believes that this fee is equitable and not unfairly discriminatory
because the Exchange will apply the same fees to any similarly situated
Distributors that elect to participate in the Program based on the
number of External Subscribers provided access to Derived Data through
an API Service, with Distributors providing access to six or more
External Subscribers receiving a discount compared to the current
pricing applicable for external distribution of EDGX Top. The Exchange
believes that it is equitable and not unfairly discriminatory to begin
providing discounted rates to Distributors that provide access to at
least six External Subscribers as the discounted rates are designed to
incentivize firms to grow the number of External Subscribers that
purchase Derived Data from the Exchange. The Exchange understands that
Distributors that may provide this sort of API Service typically serve
a relatively larger number of External Subscribers, and would therefore
be able to meet the proposed threshold by providing Derived Data taken
from EDGX Top to those customers.
    The Exchange would also continue to charge a small fee for
Professional Users but would eliminate Non-Professional User fees for
data provided under the Program. The Exchange believes that it is
equitable and not unfairly discriminatory to charge a fee for
Professional Users but no fee for Non-Professional Users. Non-
Professional Users are already subject to a heavily discounted fee for
EDGX Top market data relative to Professional Users. Differential fees
for Professional and Non-Professional Users are widely used by the
Exchange and other exchanges for their proprietary market data as this
reduces costs for retail investors and makes market data more broadly
available. The Exchange believes that eliminating fees for Non-
Professional Users that access Derived Data from Distributors pursuant
to the Program is consistent with longstanding precedent indicating
that it is consistent with the Act to provide reasonable incentives to
retail investors that rely on the public markets for their investment
needs.
    Furthermore, the proposed fees will only apply to Distributors that
elect to participate in the Program by distributing Derived Data
through an

API Service. EDGX Top market data is distributed and purchased on a
voluntary basis, in that neither the Exchange nor market data
distributors are required by any rule or regulation to make this data
available. Distributors of EDGX Top are not required to participate in
the proposed Program, which is merely an alternative option being
proposed by the Exchange to potentially lower costs for market data
that is Derived Data. As previously explained, the Exchange currently
offers discounted fees for Distributors that distribute Derived Data on
a While [sic] Label Service. Expanding the universe of customers that
can benefit from discounted fees for distributing Derived Data would
serve to further increase the accessibility of the Exchange's market
data products.

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

    The Exchange does not believe that the proposed rule change would
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act. The Exchange
operates in a highly competitive environment, and its ability to price
these data products is constrained by: (i) Competition among exchanges
that offer similar data products, and pricing options, to their
customers; and (ii) the existence of inexpensive real-time consolidated
data disseminated by the SIPs. Top of book data is disseminated by both
the SIPs and the thirteen equities exchanges. There are therefore a
number of alternative products available to market participants and
investors. In this competitive environment potential subscribers are
free to choose which competing product to purchase to satisfy their
need for market information. Often, the choice comes down to price, as
broker-dealers or vendors look to purchase the cheapest top of book
data product, or quality, as market participants seek to purchase data
that represents significant market liquidity. In order to better
compete for this segment of the market, the Exchange is proposing to
reduce fees charged to Distributors that distribute Derived Data
through an API. The Exchange believes that this would facilitate
greater access to such data, ultimately benefiting investors that are
provided access to such data.
    The proposed fees apply to data derived from EDGX Top, which is
subject to competition from both the SIPs and exchanges that offer
similar products, including but not limited to those that choose to
provide similar pricing options for Derived Data. A number of national
securities exchanges, including the Exchange, its affiliated Cboe U.S.
equities exchanges, and Nasdaq offer pricing discounts for Derived Data
today. These pricing programs reduce the cost of accessing top of book
market information that is used, among other things, to create
derivative instruments rather than to trade U.S. equity securities. In
order to better compete for this segment of the market, the Exchange is
proposing to expand the programs that it offers to include a Derived
Data API Service, allowing additional market data customers to benefit
from discounted pricing. The Exchange does not believe that the
proposed price reduction for Derived Data offered through an API would
cause any unnecessary or inappropriate burden on intermarket
competition as other exchanges and data vendors are free to lower their
prices to better compete with the Exchange's offering. The Exchange
believes that the proposed rule change is pro-competitive as it seeks
to offer pricing incentives to customers to better position the
Exchange as it competes to attract additional market data subscribers.

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

    No written comments were either solicited or received.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \14\ and paragraph (f) of Rule 19b-4 \15\
thereunder. At any time within 60 days of the filing of the proposed
rule change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission will institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78s(b)(3)(A).
    \15\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-CboeEDGX-2019-049 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-CboeEDGX-2019-049. 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-CboeEDGX-2019-049, and should be
submitted on or before September 9, 2019.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
---------------------------------------------------------------------------

    \16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-17682 Filed 8-16-19; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 87, Number 161 (Monday, August 22, 2022)]
[Rules and Regulations]
[Pages 51251-51253]
[FR Doc No: 2022-18069]

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

DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket Number USCG-2022-0612]
RIN 1625-AA87

Security Zone; Seddon Channel, VIP Visit, Tampa, FL

AGENCY: Coast Guard, Department of Homeland Security (DHS).

ACTION: Temporary final rule.

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

SUMMARY: The Coast Guard is establishing a temporary security zone in
the vicinity of the Tampa Convention Center, Tampa, FL, during a
Government ceremony featuring several high-level officials. The
security zone will cover all navigable waters of the Seddon Channel and
Hillsborough River within 100 yards of the Tampa Convention Center,
Tampa, FL. The security zone is necessary to protect the official
party, the public, and the surrounding waterway from terrorist acts,
sabotage, or other subversive acts, accidents, or other causes of a
similar nature. Entering or remaining in this security zone is
prohibited unless authorized by the Captain of the Port St. Petersburg
or a designated representative.

DATES: This rule is effective from 5 a.m. through 4 p.m., on August 30,
2022.

ADDRESSES: To view documents mentioned in this preamble as being
available in the docket, go to https://www.regulations.gov, type USCG-
2022-0612 in the search box and click ``Search.'' Next, in the Document
Type column, select ``Supporting & Related Material.''

FOR FURTHER INFORMATION CONTACT: If you have questions on this rule,
call or email Marine Science Technician Second Class Regina L Cuevas,
Sector St. Petersburg Prevention Department, Coast Guard; telephone
(813) 228-2191, email [email protected].

SUPPLEMENTARY INFORMATION:

I. Table of Abbreviations

CFR Code of Federal Regulations
DHS Department of Homeland Security
FR Federal Register
NPRM Notice of proposed rulemaking
Sec.  Section
U.S.C. United States Code

II. Background Information and Regulatory History

    The Coast Guard is issuing this temporary rule without prior notice
and opportunity to comment pursuant to authority under section 4(a) of
the Administrative Procedure Act (APA) (5 U.S.C. 553(b)). This
provision authorizes an agency to issue a rule without prior notice and
opportunity to comment when the agency for good cause finds that those
procedures are ``impracticable, unnecessary, or contrary to the public
interest.'' Under 5 U.S.C. 553(b)(B), the Coast Guard finds that good
cause exists for not publishing a notice of proposed rulemaking (NPRM)
with respect to this rule because the Captain of the Port St.
Petersburg did not receive sufficient notice of this visit. Therefore,
the Coast Guard lacks sufficient time to provide a reasonable comment
period and then consider those comments before issuing the rule. Any
delay in the effective date of this rule would be contrary to the
public interest as immediate action is needed to protect the official
party, the public, and the surrounding waterway from sabotage or other
subversive acts, accidents, or other causes of a similar nature.
    Under 5 U.S.C. 553(d)(3), the Coast Guard finds that good cause
exists for making this rule effective less than 30 days after
publication in the Federal Register. Delaying the effective date of
this rule would be contrary to the public interest because immediate
action is needed to provide adequate security to protect the official
party, the public, and the surrounding waterway.

III. Legal Authority and Need for Rule

    The Coast Guard is issuing this rule under authority in 46 U.S.C.
70034. The Captain of the Port Sector St Petersburg (COTP) has
determined that potential hazards associated with this Government
ceremony starting August 30, 2022, has security concern for the
official party within a 100-yard radius of the Tampa Convention center
in the waters of the Seddon Channel and the Hillsborough River. This
rule is needed to protect the official party, the public, and the
surrounding waterway from potential terrorist threats.

IV. Discussion of the Rule

    This rule establishes a security zone from 5 a.m. through 4 p.m.,
on August 30, 2022. The security zone will cover all navigable waters
of Seddon Channel and the Hillborough River within 100 yards of the
Tampa Convention Center, Tampa, FL. The duration of the zone is
intended to ensure the security of the VIP during the scheduled event.
No vessel or person will be permitted to enter, transit through, anchor
in or remain within the security zone without obtaining permission from
the COTP or a designated representative. If

authorization to enter, transit through, anchor in, or remain within
the security zone is granted by the COTP or a designated
representative, all persons and vessels receiving such authorization
must comply with the instructions of the COTP or a designated
representative. The Coast Guard will provide notice of the security
zone by Broadcast Notice to Mariners, or by on-scene designated
representatives.
    Persons and vessels are prohibited from entering, transiting
through, anchoring in, or remaining within the security zone unless
authorized by the Captain of the Port St. Petersburg or a designated
representative. Persons and vessels desiring to enter, transit through,
anchor in, or remain within the security zone may contact the Captain
of the Port St. Petersburg by telephone at<PHONE_NUMBER>, or a
designated representative via VHF radio on channel 16, to request
authorization. If authorization to enter, transit through, anchor in,
or remain within the security zone is granted by the Captain of the
Port St. Petersburg or a designated representative, all persons and
vessels receiving such authorization must comply with the instructions
of the Captain of the Port St. Petersburg or a designated
representative. The Coast Guard will provide notice of the security
zone by Broadcast Notice to Mariners and on-scene designated
representatives.

V. Regulatory Analyses

    We developed this rule after considering numerous statutes and
Executive orders related to rulemaking. Below we summarize our analyses
based on a number of these statutes and Executive orders, and we
discuss First Amendment rights of protestors.

A. Regulatory Planning and Review

    Executive Orders 12866 and 13563 direct agencies to assess the
costs and benefits of available regulatory alternatives and, if
regulation is necessary, to select regulatory approaches that maximize
net benefits. This rule has not been designated a ``significant
regulatory action,'' under Executive Order 12866. Accordingly, this
rule has not been reviewed by the Office of Management and Budget
(OMB).
    This regulatory action determination is based on: (1) the security
zone will be enforced for approximately 11 hours; (2) although persons
and vessels will not be able to enter or remain in the security zone
without authorization from the Captain of the Port St. Petersburg or a
designated representative, they may operate in the surrounding area
during the enforcement period; and (3) persons and vessels may still
enter or remain in this security zone if authorized by the Captain of
the Port St. Petersburg or a designated representative.

B. Impact on Small Entities

    The Regulatory Flexibility Act of 1980, 5 U.S.C. 601-612, as
amended, requires Federal agencies to consider the potential impact of
regulations on small entities during rulemaking. The term ``small
entities'' comprises small businesses, not-for-profit organizations
that are independently owned and operated and are not dominant in their
fields, and governmental jurisdictions with populations of less than
50,000. The Coast Guard certifies under 5 U.S.C. 605(b) that this rule
will not have a significant economic impact on a substantial number of
small entities.
    While some owners or operators of vessels intending to transit the
security zone may be small entities, for the reasons stated in section
V.A above, this rule will not have a significant economic impact on any
vessel owner or operator.
    Under section 213(a) of the Small Business Regulatory Enforcement
Fairness Act of 1996 (Pub. L. 104-121), we want to assist small
entities in understanding this rule. If the rule would affect your
small business, organization, or governmental jurisdiction and you have
questions concerning its provisions or options for compliance, please
call or email the person listed in the FOR FURTHER INFORMATION CONTACT
section.
    Small businesses may send comments on the actions of Federal
employees who enforce, or otherwise determine compliance with, Federal
regulations to the Small Business and Agriculture Regulatory
Enforcement Ombudsman and the Regional Small Business Regulatory
Fairness Boards. The Ombudsman evaluates these actions annually and
rates each agency's responsiveness to small business. If you wish to
comment on actions by employees of the Coast Guard, call 1-888-REG-FAIR
(1-888-734-3247). The Coast Guard will not retaliate against small
entities that question or complain about this rule or any policy or
action of the Coast Guard.

C. Collection of Information

    This rule will not call for a new collection of information under
the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520).

D. Federalism and Indian Tribal Governments

    A rule has implications for federalism under Executive Order 13132,
Federalism, if it has a substantial direct effect on the States, on the
relationship between the National Government and the States, or on the
distribution of power and responsibilities among the various levels of
government. We have analyzed this rule under that order and have
determined that it is consistent with the fundamental federalism
principles and preemption requirements described in Executive Order
13132.
    Also, this rule does not have tribal implications under Executive
Order 13175, Consultation and Coordination with Indian Tribal
Governments, because it does not have a substantial direct effect on
one or more Indian tribes, on the relationship between the Federal
Government and Indian tribes, or on the distribution of power and
responsibilities between the Federal Government and Indian tribes.

E. Unfunded Mandates Reform Act

    The Unfunded Mandates Reform Act of 1995 (2 U.S.C. 1531-1538)
requires Federal agencies to assess the effects of their discretionary
regulatory actions. In particular, the Act addresses actions that may
result in the expenditure by a State, local, or tribal government, in
the aggregate, or by the private sector of $100,000,000 (adjusted for
inflation) or more in any one year. Though this rule will not result in
such an expenditure, we do discuss the effects of this rule elsewhere
in this preamble.

F. Environment

    We have analyzed this rule under Department of Homeland Security
Directive 023-01, Rev. 1, associated implementing instructions, and
Environmental Planning COMDTINST 5090.1 (series), which guide the Coast
Guard in complying with the National Environmental Policy Act of 1969
(42 U.S.C. 4321-4370f), and have determined that this action is one of
a category of actions that do not individually or cumulatively have a
significant effect on the human environment. This rule involves a
security zone lasting only 11 hours that will prohibit entry within 100
yards of the Tampa Convention Center in the waters of the Seddon
Channel and Hillsborough River. It is categorically excluded from
further review under paragraph L60(a) of Appendix A, Table 1 of DHS
Instruction Manual 023-01-001-01, Rev. 1. A Record of Environmental
Consideration supporting this determination is

available in the docket. For instructions on locating the docket, see
the ADDRESSES section of this preamble.

G. Protest Activities

    The Coast Guard respects the First Amendment rights of protesters.
Protesters are asked to call or email the person listed in the FOR
FURTHER INFORMATION CONTACT section to coordinate protest activities so
that your message can be received without jeopardizing the safety or
security of people, places or vessels.

List of Subjects in 33 CFR Part 165

    Harbors, Marine safety, Navigation (water), Reporting and
recordkeeping requirements, Security measures, Waterways.
    For the reasons discussed in the preamble, the Coast Guard amends
33 CFR part 165 as follows:

PART 165--REGULATED NAVIGATION AREAS AND LIMITED ACCESS AREAS

0
1. The authority citation for part 165 continues to read as follows:

    Authority:  46 U.S.C. 70034, 70051; 33 CFR 1.05-1, 6.04-1, 6.04-
6, and 160.5; Department of Homeland Security Delegation No.
00170.1, Revision No. 01.2.

0
2. Add Sec.  165.T07-0612 to read as follows:

Sec.  165.T07-0612  Security Zone; Seddon Channel, VIP Visit, Tampa,
FL.

    (a) Location. The following is a security zone: All navigable
waters of the Seddon Channel and Hillsborough River within the
following area: South of the Platt Street Bridge from position
27[deg]56'30.1'' N, 82[deg]27'29.84'' W, thence to positon
27[deg]56'27.37'' N, 82[deg]27'29.32'' W, thence to position
27[deg]56'24.78'' N, 82[deg]27'23.3'' W, thence to position
27[deg]56'26.577'' N, 82[deg]27'21.419'' W, thence to 27[deg]56'30.1''
N, 82[deg]27'29.84'' W.
    (b) Definition. The term designated representative means Coast
Guard Patrol Commanders, including Coast Guard coxswains, petty
officers, and other officers operating Coast Guard vessels, and
Federal, state, and local officers designated by or assisting the
Captain of the Port (COTP) in the enforcement of the security zone.
    (c) Regulations. (1) No person or vessel will be permitted to
enter, transit, anchor, or remain within the security zone unless
authorized by the COTP St. Petersburg or a designated representative.
If authorization is granted, persons and/or vessels receiving such
authorization must comply with the instructions of the COTP St.
Petersburg or designated representative.
    (2) Persons who must notify or request authorization from the COTP
St. Petersburg may do so by telephone at<PHONE_NUMBER>, or may contact
a designated representative via VHF radio on channel 16.
    (d) Enforcement period. This section will be enforced from 5 a.m.
through 4 p.m., on August 30, 2022.

    Dated: August 16, 2022.
Micheal P. Kahle,
Captain, U.S. Coast Guard, Captain of the Port St Petersburg.
[FR Doc. 2022-18069 Filed 8-19-22; 8:45 am]
BILLING CODE 9110-04-P