[Federal Register: March 8, 2006 (Volume 71, Number 45)]
[Notices]
[Page 11627-11632]
[DOCID:fr08mr06-85]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPPT-2006-0211; FRL-7767-5]

Certain New Chemicals; Receipt and Status Information

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: Section 5 of the Toxic Substances Control Act (TSCA) requires
any person who intends to manufacture (defined by statute to include
import) a new chemical (i.e., a chemical not on the TSCA Inventory) to
notify EPA and comply with the statutory provisions pertaining to the
manufacture of new chemicals. Under sections 5(d)(2) and 5(d)(3) of
TSCA, EPA is required to publish a notice of receipt of a
premanufacture notice (PMN) or an application for a test marketing
exemption (TME), and to publish periodic status reports on the
chemicals under review and the receipt of notices of commencement to
manufacture those chemicals. This status report, which covers the
period from February 13, 2006 to February 24, 2006, consists of the
PMNs and TME both pending or expired, and the notices of commencement
to manufacture a new chemical that the Agency has received under TSCA
section 5 during this time period.

DATES:  Comments, identified by the docket identificatioin (ID) number
EPA-HQ-OPPT-2006-0211 and the specific PMN number or TME number, must
be received on or before April 7, 2006.

ADDRESSES: Comments may be submitted electronically, by mail, or
through hand delivery/courier. Follow the detailed instructions as
provided in Unit I. of the SUPPLEMENTARY INFORMATION.

FOR FURTHER INFORMATION CONTACT:  Colby Lintner, Regulatory
Coordinator, Environmental Assistance Division, Office of Pollution
Prevention and Toxics (7408M), Environmental Protection Agency, 1200
Pennsylvania Ave., NW., Washington, DC 20460-0001; telephone number:
(202) 554-1404; e-mail address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. General Information

A. Does this Action Apply to Me?

    This action is directed to the public in general. As such, the
Agency has not attempted to describe the specific entities that this
action may apply to. Although others may be affected, this action
applies directly to the submitter of the premanufacture notices
addressed in the action. If you have any questions regarding the
applicability of this action to a particular entity, consult the person
listed under FOR FURTHER INFORMATION CONTACT.

B. How Can I Get Copies of this Document and Other Related Information?

    1. Docket. EPA has established an official public docket for this
action under docket ID number EPA-HQ-OPPT-2006-0211. The official
public docket consists of the documents specifically referenced in this
action, any public comments received, and other information related to
this action. Although a part of the official docket, the public docket
does not include Confidential Business Information (CBI) or other
information whose disclosure is restricted by statute. The official
public docket is the collection of materials that is available for
public viewing at the EPA Docket Center, Rm. B102-Reading Room, EPA
West, 1301 Constitution Ave., NW., Washington, DC. The EPA Docket
Center is open from 8:30 a.m. to 4:30 p.m., Monday through Friday,
excluding legal holidays. The EPA Docket Center Reading Room telephone
number is<PHONE_NUMBER>, and the telephone number for the OPPT Docket,
which is located in the EPA Docket Center, is<PHONE_NUMBER>.
    2. Electronic access. You may access this Federal Register document
electronically through the EPA Internet under the ``Federal Register''
listings at http://www.epa.gov/fedrgstr/.

     EDOCKET, EPA's electronic public docket and comment system was
replaced on November 25, 2005 by an enhanced federal-wide electronic
docket management and comment system located at http://www.regulations.gov/.
 Follow the on-line instructions.

    An electronic version of the public docket is available through
EPA's electronic public docket and comment system, EPA Dockets. You may
use EPA Dockets at http://www.epa.gov/edocket/ to submit or view public

comments, access the index listing of the contents of the official
public docket, and to access those documents in the public docket that
are available electronically. Although not all docket materials may be
available electronically, you may still access any of the publicly
available docket materials through the docket facility identified in
Unit I.B.1. Once in the system, select ``search,'' then key in the
appropriate docket ID number.
    Certain types of information will not be placed in the EPA Dockets.
Information claimed as CBI and other information whose disclosure is
restricted by statute, which is not included in the official public
docket, will not be available for public viewing in EPA's electronic
public docket. EPA's policy is that copyrighted material will not be
placed in EPA's electronic public docket but will be available only in
printed, paper form in the official public docket. To the extent
feasible, publicly available docket materials will be made available in
EPA's electronic public docket. When a document is selected

from the index list in EPA Dockets, the system will identify whether
the document is available for viewing in EPA's electronic public
docket. Although not all docket materials may be available
electronically, you may still access any of the publicly available
docket materials through the docket facility identified in Unit I.B.1.
EPA intends to work towards providing electronic access to all of the
publicly available docket materials through EPA's electronic public
docket.
    For public commenters, it is important to note that EPA's policy is
that public comments, whether submitted electronically or in paper,
will be made available for public viewing in EPA's electronic public
docket as EPA receives them and without change, unless the comment
contains copyrighted material, CBI, or other information whose
disclosure is restricted by statute. When EPA identifies a comment
containing copyrighted material, EPA will provide a reference to that
material in the version of the comment that is placed in EPA's
electronic public docket. The entire printed comment, including the
copyrighted material, will be available in the public docket.
    Public comments submitted on computer disks that are mailed or
delivered to the docket will be transferred to EPA's electronic public
docket. Public comments that are mailed or delivered to the docket will
be scanned and placed in EPA's electronic public docket. Where
practical, physical objects will be photographed, and the photograph
will be placed in EPA's electronic public docket along with a brief
description written by the docket staff.

C. How and To Whom Do I Submit Comments?

    You may submit comments electronically, by mail, or through hand
delivery/courier. To ensure proper receipt by EPA, identify the
appropriate docket ID number and specific PMN number or TME number in
the subject line on the first page of your comment. Please ensure that
your comments are submitted within the specified comment period.
Comments received after the close of the comment period will be marked
``late.'' EPA is not required to consider these late comments. If you
wish to submit CBI or information that is otherwise protected by
statute, please follow the instructions in Unit I.D. Do not use EPA
Dockets or e-mail to submit CBI or information protected by statute.
    1. Electronically. If you submit an electronic comment as
prescribed in this unit, EPA recommends that you include your name,
mailing address, and an e-mail address or other contact information in
the body of your comment. Also include this contact information on the
outside of any disk or CD ROM you submit, and in any cover letter
accompanying the disk or CD ROM. This ensures that you can be
identified as the submitter of the comment and allows EPA to contact
you in case EPA cannot read your comment due to technical difficulties
or needs further information on the substance of your comment. EPA's
policy is that EPA will not edit your comment, and any identifying or
contact information provided in the body of a comment will be included
as part of the comment that is placed in the official public docket,
and made available in EPA's electronic public docket. If EPA cannot
read your comment due to technical difficulties and cannot contact you
for clarification, EPA may not be able to consider your comment.
    i. EPA Dockets. Your use of EPA's electronic public docket to
submit comments to EPA electronically is EPA's preferred method for
receiving comments. Go directly to EPA Dockets at http://www.epa.gov/edocket/
, and follow the online instructions for submitting comments.

Once in the system, select ``search,'' and then key in docket ID number
EPA-HQ-OPPT-2006-0211. The system is an ``anonymous access'' system,
which means EPA will not know your identity, e-mail address, or other
contact information unless you provide it in the body of your comment.
    ii. E-mail. Comments may be sent by e-mail to<EMAIL_ADDRESS>
Attention: Docket ID Number EPA-HQ-OPPT-2006-0211 and PMN Number or TME
Number. In contrast to EPA's electronic public docket, EPA's e-mail
system is not an ``anonymous access'' system. If you send an e-mail
comment directly to the docket without going through EPA's electronic
public docket, EPA's e-mail system automatically captures your e-mail
address. E-mail addresses that are automatically captured by EPA's e-
mail system are included as part of the comment that is placed in the
official public docket, and made available in EPA's electronic public
docket.
    iii. Disk or CD ROM. You may submit comments on a disk or CD ROM
that you mail to the mailing address identified in Unit I.C.2. These
electronic submissions will be accepted in WordPerfect or ASCII file
format. Avoid the use of special characters and any form of encryption.
    2. By mail. Send your comments to: Document Control Office (7407M),
Office of Pollution Prevention and Toxics (OPPT), Environmental
Protection Agency, 1200 Pennsylvania Ave., NW., Washington, DC 20460-
0001.
    3. By hand delivery or courier. Deliver your comments to: OPPT
Document Control Office (DCO) in EPA East Bldg., Rm. 6428, 1201
Constitution Ave., NW., Washington, DC. Attention: Docket ID Number
EPA-HQ-OPPT-2006-0211 and PMN Number or TME Number. The DCO is open
from 8 a.m. to 4 p.m., Monday through Friday, excluding legal holidays.
The telephone number for the DCO is<PHONE_NUMBER>.

D. How Should I Submit CBI to the Agency?

    Do not submit information that you consider to be CBI
electronically through EPA's electronic public docket or by e-mail. You
may claim information that you submit to EPA as CBI by marking any part
or all of that information as CBI (if you submit CBI on disk or CD ROM,
mark the outside of the disk or CD ROM as CBI and then identify
electronically within the disk or CD ROM the specific information that
is CBI). Information so marked will not be disclosed except in
accordance with procedures set forth in 40 CFR part 2.
    In addition to one complete version of the comment that includes
any information claimed as CBI, a copy of the comment that does not
contain the information claimed as CBI must be submitted for inclusion
in the public docket and EPA's electronic public docket. If you submit
the copy that does not contain CBI on disk or CD ROM, mark the outside
of the disk or CD ROM clearly that it does not contain CBI. Information
not marked as CBI will be included in the public docket and EPA's
electronic public docket without prior notice. If you have any
questions about CBI or the procedures for claiming CBI, please consult
the technical person listed under FOR FURTHER INFORMATION CONTACT.

E. What Should I Consider as I Prepare My Comments for EPA?

    You may find the following suggestions helpful for preparing your
comments:
    1. Explain your views as clearly as possible.
    2. Describe any assumptions that you used.
    3. Provide copies of any technical information and/or data you used
that support your views.
    4. If you estimate potential burden or costs, explain how you
arrived at the estimate that you provide.
    5. Provide specific examples to illustrate your concerns.

    6. Offer alternative ways to improve the notice or collection
activity.
    7. Make sure to submit your comments by the deadline in this
document.
    8. To ensure proper receipt by EPA, be sure to identify the docket
ID number assigned to this action and the specific PMN number you are
commenting on in the subject line on the first page of your response.
You may also provide the name, date, and Federal Register citation.

II. Why is EPA Taking this Action?

    Section 5 of TSCA requires any person who intends to manufacture
(defined by statute to include import) a new chemical (i.e., a chemical
not on the TSCA Inventory) to notify EPA and comply with the statutory
provisions pertaining to the manufacture of new chemicals. Under
sections 5(d)(2) and 5(d)(3) of TSCA, EPA is required to publish a
notice of receipt of a PMN or an application for a TME and to publish
periodic status reports on the chemicals under review and the receipt
of notices of commencement to manufacture those chemicals. This status
report, which covers the period from February 13, 2006 to February 24,
2006, consists of the PMNs and TME both pending or expired, and the
notices of commencement to manufacture a new chemical that the Agency
has received under TSCA section 5 during this time period.

III. Receipt and Status Report for PMNs and TMEs

    This status report identifies the PMNs and TME both pending or
expired, and the notices of commencement to manufacture a new chemical
that the Agency has received under TSCA section 5 during this time
period. If you are interested in information that is not included in
the following tables, you may contact EPA as described in Unit II to
access additional non-CBI information that may be available.
    In Table I of this unit, EPA provides the following information (to
the extent that such information is not claimed as CBI) on the PMNs
received by EPA during this period: the EPA case number assigned to the
PMN; the date the PMN was received by EPA; the projected end date for
EPA's review of the PMN; the submitting manufacturer; the potential
uses identified by the manufacturer in the PMN; and the chemical
identity.

                                            I. 24 Premanufacture Notices Received From: 02/13/06 to 02/24/06
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                                                              Projected Notice End
              Case No.                    Received Date               Date           Manufacturer/Importer           Use                  Chemical
--------------------------------------------------------------------------------------------------------------------------------------------------------
P-06-0299                            02/10/06                05/10/06                Sachem, inc.           (G) Destructive use    (G)1,6-
                                                                                catalyst for           hexanediaminium,n,n,
                                                                                microporous filter     n,n', vegolysin
                                                                                material
                                                                                manufacture.
P-06-0300                            02/10/06                05/10/06                Zeon Chemicals L.P.    (S) Barrier film for   (G) Cyclized
                                                                                food packaging         hydrocarbon resin
P-06-0301                            02/14/06                05/14/06                Cytec Industries Inc.  (G) mineral            (G) modified anionic
                                                                                flocculant             polyacrylamide
P-06-0302                            02/15/06                05/15/06                CBI                    (G) Automotive         (G) Acrylic polymer
                                                                                coatings               with styrene,
                                                                                peoxide initiated
P-06-0303                            02/15/06                05/15/06                CBI                    (G) Biopolymer         (S) Alpha-amylase
                                                                                treatment
P-06-0304                            02/15/06                05/15/06                CBI                    (G) Open, non-         (G) Chromium complex
                                                                                dispersive use, dye    of substituted
                                                                                for synthetic fibers   hydroxynaphthylazo
                                                                                hydroxynaphthalene
                                                                                and substituted
                                                                                hydroxyphenylazo
                                                                                hydroxynaphthalene,
                                                                                sodium salt
P-06-0305                            02/15/06                05/15/06                CBI                    (G) Open, non-         (G) Chromium complex
                                                                                dispersive use, dye    of substituted
                                                                                for synthetic fibers   hydroxynaphthylazo
                                                                                hydroxynaphthalene
                                                                                and substituted
                                                                                hydroxyphenylazo
                                                                                hydroxynaphthalene,
                                                                                sodium salt
P-06-0306                            02/16/06                05/16/06                CBI                    (S) Polyurethane       (G) Aqueous
                                                                                coating                polyurethane
                                                                                dispersion
P-06-0307                            02/17/06                05/17/06                BASF Corporation       (G) Automotive         (G) Polyester
                                                                                application            urethane
P-06-0308                            02/17/06                05/17/06                BASF Corporation       (G) protective         (G) Polyester
                                                                                jacketting             urethane
P-06-0309                            02/21/06                05/21/06                Aoc L.L.C.             (S) Polyester          (S) 1,3-
                                                                                component for          benzenedicarboxylic
                                                                                gelcoat resin or       acid, polymer with
                                                                                spray up of            2,2-dimethyl-1,3-
                                                                                fiberglass             propanediol, 1,2-
                                                                                reinforced plastic     ethanediol, 2,5-
                                                                                parts                  furandione and 1,2-
                                                                                propanediol,
                                                                                phenylmethyl ester
P-06-0310                            02/21/06                05/21/06                Cytec Surface          (G) Coatings and inks  (G) Alkenoic acid,
                                                                                Specialities Inc.                             reaction products
                                                                                with alkoxylated
                                                                                polyalcohol and
                                                                                alkylamine
P-06-0311                            02/21/06                05/21/06                Cytec Surface          (G) Coatings and inks  (G) Alkanoic acid,
                                                                                Specialities Inc.                             polymer with
                                                                                alkoxylated polyol,
                                                                                reaction products
                                                                                with alkylamine
P-06-0312                            02/21/06                05/21/06                Cytec Surface          (G) Coatings and inks  (G) Fatty acids,
                                                                                Specialities Inc.                             dimers, polymers
                                                                                with alkenoic acid
                                                                                and aromatic polyol
P-06-0313                            02/21/06                05/21/06                Cytec Surface          (G) Coatings and inks  (G) Alkenoic acid,
                                                                                Specialities Inc.                             modified vinylic
                                                                                copolymer
P-06-0314                            02/21/06                05/21/06                CBI                    (S) Dispersing agent   (G) Polyoxyalkylene
                                                                                for crop protection;   siloxane
                                                                                dispersing agent for
                                                                                home care cleaners
P-06-0315                            02/21/06                05/21/06                Yh America, Inc.,      (S) One component      (S) Glycerol
                                                                                Sealant Division       adhesive, urethane     propoxylate,N
                                                                                or epoxide             dibutytin
                                                                                diilaurate,
                                                                                polypropylene
                                                                                glycol,
                                                                                tetramethylxylene
                                                                                diisocyanate
P-06-0316                            02/22/06                05/22/06                J.M. Huber             (S) Flame retardant    (G) Aluminum
                                                                                Corporation                                   trihydrate surface
                                                                                treated

P-06-0317                            02/23/06                05/23/06                CBI                    (G) Open, non-         (G) Polycarbonate
                                                                                dispersive use.        polyurethane
P-06-0318                            02/23/06                05/23/06                CBI                    (G) Open, non-         (G) Polycarbonate
                                                                                dispersive use.        polyurethane resin
P-06-0319                            02/23/06                05/23/06                The Dow Chemical       (S) Organic            (G) Pyridyl ethyl
                                                                                Company                intermediate           thioacetate
P-06-0320                            02/23/06                05/23/06                CBI                    (G) Open, non-         (G) Polycarbonate
                                                                                dispersive use.        dispersion
P-06-0321                            02/23/06                05/23/06                CBI                    (G) Polymeric          (G) Functional
                                                                                intermediate           polyetheramine
                                                                                derivative
P-06-0322                            02/23/06                05/23/06                CBI                    (S) Aqueous            (G)
                                                                                dispersion of          (substituted)dicarbo
                                                                                polymer for leather    xylic acid, polymer
                                                                                finishing              with fatty acid,
                                                                                dioic acid,
                                                                                (substituted)dio,
                                                                                hydrazine,
                                                                                hydroxypoly[(substit
                                                                                uted)diyl],
                                                                                (substituted)
                                                                                propanoic acid and
                                                                                (substituted)cyclohe
                                                                                xane, compound with
                                                                                trialkylamine
--------------------------------------------------------------------------------------------------------------------------------------------------------

    In Table II of this unit, EPA provides the following information
(to the extent that such information is not claimed as CBI) on the TMEs
received:

                                       II. 1 Test Marketing Exemption Notices Received From: 02/13/06 to 02/24/06
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                              Projected Notice End
              Case No.                    Received Date               Date           Manufacturer/Importer           Use                  Chemical
--------------------------------------------------------------------------------------------------------------------------------------------------------
T-06-0003                            02/14/06                03/30/06                Cytec Industries Inc.  (G) Modified anionic   (G) mineral
                                                                                polyacrylamide         flocculant
--------------------------------------------------------------------------------------------------------------------------------------------------------

    In Table III of this unit, EPA provides the following information
(to the extent that such information is not claimed as CBI) on the
Notices of Commencement to manufacture received:

                           III. 45 Notices of Commencement From: 02/13/06 to 02/24/06
----------------------------------------------------------------------------------------------------------------
                                                                Commencement Notice
              Case No.                     Received Date             End Date                  Chemical
----------------------------------------------------------------------------------------------------------------
P-03-0008                             02/15/06                01/19/06                (G) Hydroxyester acrylate,
                                                                                polymer with alkanediol
                                                                                polymer and isocyanate.
P-03-0692                             02/22/06                02/01/06                (G) Rosin, polymer with a
                                                                                monocarboxylic acid,
                                                                                phenols, maleic
                                                                                anhydride, formaldehyde
                                                                                and pentaerythritol.
P-04-0237                             02/21/06                02/08/06                (G) Alkanolamine
                                                                                carboxylate salt
P-04-0238                             02/21/06                02/08/06                (G) Alkanolamine
                                                                                carboxylate salt
P-04-0239                             02/21/06                02/08/06                (G) Alkanolamine
                                                                                carboxylate salt
P-04-0240                             02/21/06                02/08/06                (G) Alkoxylated amine
                                                                                carboxylate salt
P-04-0241                             02/21/06                02/08/06                (G) Alkanolamine
                                                                                carboxylate salt
P-04-0277                             02/15/06                01/25/06                (S) Extracts (petroleum),
                                                                                light paraffinic
                                                                                distillate solvent,
                                                                                hydrotreated, arom.
                                                                                hydrocarbon-rich
P-04-0278                             02/15/06                01/25/06                (S) Extracts (petroleum),
                                                                                heavy paraffinic
                                                                                distillate solvent,
                                                                                hydrotreated, arom.
                                                                                hydrocarbon-rich
P-04-0281                             02/21/06                02/08/06                (G) Alkali carboxylate
                                                                                salt
P-04-0282                             02/21/06                02/08/06                (G) Alkali carboxylate
                                                                                salt
P-04-0700                             02/10/06                01/24/06                (S) Poly(oxy-1,2-
                                                                                ethanediyl), .alpha.-(1-
                                                                                oxo-2-propenyl)-.omega.-
                                                                                [3-[1,3,3,3-tetramethyl-1-
                                                                                [(trimethylsilyl)oxy]disi
                                                                                loxanyl]propoxy]-
P-04-0701                             02/10/06                01/24/06                (S) Poly(oxy-1,2-
                                                                                ethanediyl), .alpha.-(2-
                                                                                methyl-1-oxo-2-propenyl)-
                                                                                .omega.-[3-[1,3,3,3-
                                                                                tetramethyl-1-
                                                                                [(trimethylsilyl)oxy]disi
                                                                                loxanyl]propoxy]-
P-05-0144                             02/22/06                02/05/06                (G) Phthalate type
                                                                                polyester
P-05-0274                             02/10/06                02/02/06                (G) Polyester carbonate-
                                                                                based polyurethane-
                                                                                polyurea
P-05-0347                             02/21/06                02/09/06                (G)
                                                                                Poly[oxy(alkyldiyl),.alph
                                                                                a.-hydro-.omega.-hydroxy-
                                                                                , acrylated-blocked
                                                                                polymer with
                                                                                1,1'methylenebis[isocyana
                                                                                tobenzene],
P-05-0397                             02/14/06                01/19/06                (G) .beta.-ketoester and
                                                                                .beta.-diketone, polymers
                                                                                with bisphenol a
                                                                                diglycidyl ether
                                                                                homopolymer diacrylate 3-
                                                                                (c10-16)-alkyloxy)-2-
                                                                                hydroxypropyl ethers, 1,6-
                                                                                hexanediol diacrylate,
                                                                                polyethylene glycol
                                                                                monoacrylate ether with
                                                                                trimethylolpropane (3:1),
                                                                                and alkyl acrylate,
                                                                                reaction products with
                                                                                alkyl amine and alkanol
                                                                                amine
P-05-0567                             02/10/06                02/02/06                (G) Hexanediol
                                                                                polycarbonate-based
                                                                                polyurethane-polyurea

P-05-0593                             02/10/06                01/26/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and
                                                                                n,n,n-trimethyl-2-[(1-oxo-
                                                                                2-
                                                                                propenyl)oxy]ethanaminium
                                                                                chloride, disodium
                                                                                (disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-initiated
P-05-0594                             02/10/06                01/26/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and
                                                                                n,n,n-trimethyl-2-[(1-oxo-
                                                                                2-
                                                                                propenyl)oxy]ethanaminium
                                                                                chloride, sodium salts,
                                                                                disodium (disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-initiated
P-05-0595                             02/10/06                01/26/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and
                                                                                n,n,n-trimethyl-2-[(1-oxo-
                                                                                2-
                                                                                propenyl)oxy]ethanaminium
                                                                                chloride, potassium
                                                                                salts,
                                                                                disodium(disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-initiated
P-05-0596                             02/10/06                01/27/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and
                                                                                n,n,n-trimethyl-2-[(1-oxo-
                                                                                2-
                                                                                propenyl)oxy]ethanaminium
                                                                                chloride, ammonium salts,
                                                                                disodium(disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-initiated
P-05-0597                             02/10/06                01/26/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and
                                                                                n,n,n-trimethyl-2-[(1-oxo-
                                                                                2-
                                                                                propenyl)oxy]ethanaminium
                                                                                chloride, disodium
                                                                                (disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-
                                                                                initiated, compounds with
                                                                                triethanolamine
P-05-0598                             02/10/06                01/26/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and
                                                                                n,n,n-trimethyl-2-[(1-oxo-
                                                                                2-
                                                                                propenyl)oxy]ethanaminium
                                                                                chloride, disodium
                                                                                (disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-
                                                                                initiated, compds. with 2-
                                                                                amino-2-methyl-1-propanol
P-05-0677                             02/22/06                02/02/06                (G) Dialkyl carbonate
                                                                                epoxy polymer with
                                                                                substituted triol
P-05-0741                             02/21/06                01/26/06                (G) Peroxyalkanoic acid
P-05-0751                             02/21/06                01/31/06                (G) Hydroxyalkyl
                                                                                carboxylic acid, polymer
                                                                                with alkylamine, dialkyl
                                                                                carbonate, alkanediol,
                                                                                alkyldiisocyanate,
                                                                                compound with alkylamine
P-05-0753                             02/21/06                01/20/06                (G) Modified
                                                                                polyacrylamide
P-05-0760                             02/13/06                01/30/06                (G) Pyrazolylazo pyrazol
                                                                                derivative
P-05-0761                             02/13/06                01/30/06                (G) Pyridylazo thiazol
                                                                                derivative
P-05-0762                             02/13/06                01/30/06                (G) Carbonyl bis(imino
                                                                                phenyleneazo) derivative
P-05-0763                             02/13/06                01/30/06                (G) Pyridylazo pyrazol
                                                                                derivative
P-05-0781                             02/15/06                02/03/06                (G) Formaldehyde, polymer
                                                                                with 6-phenyl-1,3,5-
                                                                                triazine-2,4-diamine and
                                                                                1,3,5-triazine-2,4,6-
                                                                                triamine, alkylated
P-05-0818                             02/15/06                01/25/06                (S) Distillates
                                                                                (petroleum), heavy
                                                                                thermal cracked,
                                                                                hydrotreated
P-05-0828                             02/21/06                02/10/06                (G) Hydrogenated fatty
                                                                                acid magnesium salts
P-06-0013                             02/15/06                02/01/06                (G) Ethanone, 1-[9-ethyl-6-
                                                                                (2-methylbenzoyl)-
                                                                                heteropolycyclic]-, 1-(o-
                                                                                acetyloxime)
P-06-0015                             02/21/06                02/08/06                (G) Sulphonated azo dye
P-06-0030                             02/17/06                01/19/06                (G) Polymer of acrylate
                                                                                and methacrylate esters,
                                                                                azo-initiated
P-06-0034                             02/10/06                02/05/06                (G) Terpolymer of
                                                                                substituted aromatic
                                                                                olefins
P-06-0071                             02/10/06                01/25/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and 2-
                                                                                methyl- 2-[(1-oxo-2-
                                                                                propenyl)amino]-1-
                                                                                propanesulfonic acid
                                                                                monosodium salt, disodium
                                                                                (disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-initiated
P-06-0072                             02/10/06                01/25/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and 2-
                                                                                methyl- 2-[(1-oxo-2-
                                                                                propenyl)amino]-1-
                                                                                propanesulfonic acid
                                                                                monosodium salt, sodium
                                                                                salts, disodium
                                                                                (disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-initiated
P-06-0073                             02/10/06                01/25/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and 2-
                                                                                methyl- 2-[(1-oxo-2-
                                                                                propenyl)amino]-1-
                                                                                propanesulfonic acid
                                                                                monosodium salt,
                                                                                potassium salts, disodium
                                                                                (disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-initiated/
                                                                                ENT>
P-06-0074                             02/10/06                01/25/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and 2-
                                                                                methyl- 2-[(1-oxo-2-
                                                                                propenyl)amino]-1-
                                                                                propanesulfonic acid
                                                                                monosodium salt, ammonium
                                                                                salts, disodium
                                                                                (disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-initiated

P-06-0075                             02/10/06                01/25/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and 2-
                                                                                methyl-2-[(1-oxo-2-
                                                                                propenyl)amino]-1-
                                                                                propanesulfonic acid
                                                                                monosodium salt, disodium
                                                                                (disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-
                                                                                initiated, compounds with
                                                                                triethanolamine
P-06-0076                             02/10/06                01/25/06                (S) Siloxanes and
                                                                                silicones, di-me, 3-
                                                                                hydroxypropyl group-
                                                                                terminated, diethers with
                                                                                polyethylene glycol
                                                                                monoacrylate, polymers
                                                                                with acrylic acid and 2-
                                                                                methyl- 2-[(1-oxo-2-
                                                                                propenyl)amino]-1-
                                                                                propanesulfonic acid
                                                                                monosodium salt, disodium
                                                                                (disulfite)- and
                                                                                peroxydisulfuric acid
                                                                                ([(ho)s(o)2]2o2)
                                                                                diammonium salt-
                                                                                initiated, compounds with
                                                                                2-amino-2-methyl-1-
                                                                                propanol
----------------------------------------------------------------------------------------------------------------

List of Subjects

    Environmental Protection, Chemicals, Premanufacturer Notices.

    Dated: March 2, 2006.
Carolyn Thornton,
Acting Director, Information Management Division, Office of Pollution
Prevention and Toxics.

[FR Doc. 06-2182 Filed 3-7-06; 8:45 am]

BILLING CODE 6560-50-S


[Federal Register Volume 83, Number 143 (Wednesday, July 25, 2018)]
[Notices]
[Pages 35291-35295]
[FR Doc No: 2018-15848]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83673; File No. SR-CboeBZX-2018-051]

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change to
Exchange Rule 11.13, Order Execution and Routing, To Amend the
Operation of the Super Aggressive Order Instruction

July 19, 2018.
    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 July 11, 2018, Cboe BZX Exchange, Inc. (the ``Exchange'' or ``BZX'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II below, which Items
have been prepared by the Exchange. The Exchange has designated this
proposal as a ``non-controversial'' proposed rule change pursuant to
Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(6) thereunder,\4\
which renders it 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).
    \4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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

    The Exchange filed a proposal to amend the operation of the Super
Aggressive order instruction under paragraph (b)(4)(C) of Exchange Rule
11.13.
    The text of the proposed rule change is available at the Exchange's
website at www.markets.cboe.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 the description of the Super
Aggressive Re-Route instruction (``Super Aggressive instruction'')
under paragraph (b)(4)(C) of Exchange Rule 11.13, Order Execution and
Routing to: (i) Specify that an incoming BZX Post Only Order or Partial
Post Only at Limit Order that locks a resting order with a Super
Aggressive instruction must be designated as eligible for display on
the Exchange (a ``displayed order'') for the order with a Super
Aggressive instruction to engage in a liquidity swap and execute
against that incoming order; and (ii) modify language from the
description of the Super Aggressive instruction that states if an order
that does not contain a Super Aggressive instruction maintains higher
priority than one or more Super Aggressive eligible orders, the Super
Aggressive eligible order(s) with lower priority will not be converted
and an incoming BZX Post Only Order or Partial Post Only at Limit Order
will be posted or cancelled in accordance with Exchange Rule 11.9(c)(6)
or 11.9(c)(7).
    Super Aggressive is an optional order instruction that directs the
System \5\ to route an order when an away Trading Center locks or
crosses the limit price of the order resting on the BZX Book.\6\ When
an order with a Super Aggressive instruction is locked by an incoming
BZX Post Only Order or Partial Post Only at Limit Order (hereafter
collectively referred to as a ``Post Only Order'') that does not remove
liquidity pursuant to Rule 11.9(c)(6) or 11.9(c)(7), respectively,\7\
the order with a Super Aggressive instruction is converted to an
executable order and will remove liquidity against such incoming order.
---------------------------------------------------------------------------

    \5\ The term ``System'' is defined as ``the electronic
communications and trading facility designated by the Board through
which securities orders of Users are consolidated for ranking,
execution and, when applicable, routing away.'' See Exchange Rule
1.5(aa).
    \6\ See Exchange Rule 1.5(e).
    \7\ A BZX Post Only Order will remove contra-side liquidity from
the BZX Book if the order is an order to buy or sell a security
priced below $1.00 or if the value of such execution when removing
liquidity equals or exceeds the value of such execution if the order
instead posted to the BZX Book and subsequently provided liquidity,
including the applicable fees charged or rebates provided. See
Exchange Rule 11.9(c)(6). A Partial Post Only at Limit Order will
remove liquidity from the BZX Book up to the full size of the order
if, at the time of receipt, it can be executed at prices better than
its limit price. See Exchange Rule 11.9(c)(7).
---------------------------------------------------------------------------

    First, the Exchange proposes to modify the behavior of the Super
Aggressive instruction to require that the incoming Post Only Order
that locks a resting order with a Super Aggressive instruction must be
designated as a displayed order for an execution to occur. The Super
Aggressive instruction is generally utilized for best execution
purposes because it enables the order to immediately attempt to access
displayed liquidity on another Trading Center that is either priced
equal to or better than the order with a Super Aggressive instruction's
limit price. The Super Aggressive instruction also enables the order to
execute against an equally priced incoming Post Only Order that would
otherwise not execute by being willing to act as the liquidity remover
in such a scenario. Today, the incoming Post Only Order may either be a
displayed order or a non-displayed order for it to engage in a
liquidity swap with an order with a Super Aggressive instruction
resting on the BZX Book.
    Consistent with the Super Aggressive instruction to access
liquidity displayed on other Trading Centers, the Exchange proposes to
amend the Super Aggressive instruction such that an order with such
instruction will execute against an equally priced incoming Post Only
Order only when such order is to be displayed on the BZX Book. The
order with a Super Aggressive instruction would continue to act as a
liquidity remover in such a scenario. Should such an equally priced
incoming Post Only Order not be designated as a displayed order, the
resting order with a Super Aggressive instruction would remain on the
BZX Book and await an execution where it may act as a liquidity
provider. The incoming Post Only Order that is also designated as a
non-displayed order would be posted to the BZX Book at its limit price,
creating an internally locked non-displayed book. As is the case today,
an execution would continue to occur where an incoming Post Only Order
is priced more aggressively than the order with a Super Aggressive
instruction resting on the BZX Book, regardless of whether the incoming
Post Only Order was designated as a displayed order or a non-displayed
order.\8\
---------------------------------------------------------------------------

    \8\ See id.
---------------------------------------------------------------------------

    The Exchange notes that Users seeking to act as a liquidity remover
once resting on the BZX Book in all cases (i.e., seeking to execute
against incoming Post Only orders regardless of the display
instruction) may attach the Non-Displayed Swap (``NDS'') instruction to
their order.\9\ The NDS instruction is similar to the Super Aggressive
instruction, in that it also is an optional order instruction that a
User may include on an order that directs the Exchange to have such
order, when resting on the BZX Book, execute against an incoming Post
Only Order rather than have it be locked by the incoming order. Today,
because orders with either instruction (i.e., Super Aggressive and NDS)
will execute against incoming Post Only Orders regardless of whether
the order is to be displayed, the instructions are currently identical
with two exceptions. First, an order with a Super Aggressive
instruction will not convert into a liquidity removing order and
execute against a Post Only Order if there is an order on the order
book with priority over such order that does not also contain a Super
Aggressive instruction. As further described below, the Exchange is
proposing to modify this feature of the Super Aggressive instruction.
The second current distinction between the two instructions, which
would remain, is that an order with a Super Aggressive instruction can
be displayed on the Exchange whereas an order with the NDS instruction
must be non-displayed. As amended, the additional distinction between
the two instructions would be whether an order would become a liquidity
removing order against any Post Only Order that would lock it (i.e.,
NDS) or only when the Post Only Order that would lock it also is a
displayed order (i.e., Super Aggressive).
---------------------------------------------------------------------------

    \9\ See Exchange Rule 11.9(c)(12).
---------------------------------------------------------------------------

    The below examples illustrate the proposed behavior. Assume the
National Best Bid and Offer (``NBBO'') is $10.00 by $10.10. An order to
buy is displayed on the BZX Book at $10.00 with a Super Aggressive
instruction. There are no other orders resting on the BZX Book. An
order to sell at $10.00 with a Post Only that is designated as a
displayed order is entered. The incoming order to sell would execute
against the resting order to buy at $10.00, the locking price, because
the incoming order was designated as a displayed order. The order to
buy would act as the liquidity remover and the order to sell would act
as the liquidity adder. However, no execution would occur if the
incoming order to sell was designated as a non-displayed order.
Instead, the incoming order to sell would be posted non-displayed to
the BZX Book at $10.00, its limit price, causing the BZX Book to be
internally locked.

    Second, the Exchange proposes to enable a Post Only Order that is
designated as a displayed order to execute against an equally priced
non-displayed order with a Super Aggressive instruction where a non-
displayed order without a Super Aggressive instruction maintains time
priority over the Super Aggressive eligible order at that price. In
such case, the non-displayed, non-Super Aggressive order seeks to
remain a liquidity provider and would cede time priority to the order
with a Super Aggressive instruction, which is willing to act as a
liquidity remover to facilitate the execution. The Exchange proposes to
effect this change by modifying language in the description of the
Super Aggressive instruction to state that if an order displayed on the
BZX Book does not contain a Super Aggressive instruction and maintains
higher priority than one or more Super Aggressive eligible orders, the
Super Aggressive eligible order(s) with lower priority will not be
converted and the incoming Post Only Order will be posted or cancelled
in accordance with Exchange Rule 11.9(c)(6) or Rule 11.9(c)(7). Thus,
an order with a Super Aggressive instruction, whether displayed on the
Exchange or non-displayed, will never execute ahead of a displayed
order that maintains time priority.
    The Super Aggressive instruction is designed to facilitate
executions that would otherwise not occur due to Post Only Order
requirement to not remove liquidity. Users entering orders with the
Super Aggressive instruction tend to be fee agnostic because an order
with a Super Aggressive instruction is willing to route to an away
Trading Center displaying an equally or better priced order (i.e., pay
a fee at such Trading Center). Meanwhile, an order without the Super
Aggressive instruction elects to remain on the BZX Book as the
liquidity provider until it may execute against an incoming order that
would act as the liquidity remover. Therefore, enabling the Super
Aggressive order to execute against an incoming order, regardless of
whether a non-displayed order without a Super Aggressive instruction
maintains priority, is consistent with the User's intent for both
orders--one choses to remain the liquidity provider and forgo the
execution while the other is willing to execute irrespective of whether
it is the liquidity provider or remover. The Exchange notes that
similar behavior occurs for orders utilizing the NDS instruction,\10\
which also seeks to engage in a liquidity swap against incoming Post
Only Orders. The Exchange, however, has proposed to retain the existing
limitation with respect to orders displayed on the BZX Book.
---------------------------------------------------------------------------

    \10\ See Exchange Rule 11.9(c)(12). See also Securities Exchange
Act Release No. 83537 (June 28, 2018), (SR-CboeBZX-2018-042)
(including an example where an order cedes execution priority to an
order with an NDS instruction).
---------------------------------------------------------------------------

    The following example illustrates the operation of an order with a
Super Aggressive instruction under the proposed rule change. Assume the
NBBO is $10.00 by $10.04. There is a non-displayed Limit Order to buy
resting on the BZX Book at $10.03 (``Order A''). A second non-displayed
Limit Order to buy at $10.03 is then entered with a Super Aggressive
instruction and has time priority behind the first Limit Order (``Order
B''). A Post Only Order to sell priced at $10.03 is entered. Under
current behavior, the incoming sell Post Only Order would not execute
against Order A and would post to the BZX Book \11\ because the value
of such execution against the resting buy order when removing liquidity
does not equal or exceed the value of such execution if the order
instead posted to the BZX Book and subsequently provided liquidity,
including the applicable fees charged or rebates provided. Further, the
incoming sell Post Only Order could not execute against Order B because
Order A is on the BZX Book and maintains time priority over Order B.
Under the proposed change, the incoming sell order, if it was
designated as a displayed order, would execute against Order B and
Order B would become the remover of liquidity while the incoming sell
Post Only Order would become the liquidity provider. In such case,
Order A cedes priority to Order B because Order A did not also include
a Super Aggressive instruction \12\ and thus the User that submitted
the order did not indicate the preference to be treated as the remover
of liquidity in favor of an execution; instead, by not using Super
Aggressive, a User indicates the preference to remain posted on the BZX
Book as a liquidity provider. However, if the incoming sell order was
priced at $10.02, it would receive sufficient price improvement to
execute upon entry against all resting buy Limit Orders in time
priority at $10.03.\13\ Also, if Order A was displayed on the BZX Book,
no execution would occur, as the proposed change would only apply to
non-displayed liquidity.
---------------------------------------------------------------------------

    \11\ Such order would be posted to the BZX Book in accordance
with the Exchange's re-pricing instructions to comply with Rule
610(d) of Regulation NMS. See Exchange Rules 11.9(g)(1) and (g)(2).
See also 242 CFR 242.610(d).
    \12\ This behavior is consistent with the operation of the
Exchange's NDS instruction. See supra note 10.
    \13\ The execution occurs here because the value of the
execution against the buy order when removing liquidity exceeds the
value of such execution if the order instead posted to the BZX Book
and subsequently provided liquidity, including the applicable fees
charged or rebates provided. See supra note 7.
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act \14\ in general, and furthers the objectives of Section
6(b)(5) of the Act \15\ in particular, in that it is designed to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in facilitating transactions in
securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system and, in general, to
protect investors and the public interest.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78f(b).
    \15\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The proposed changes to the Super Aggressive order instruction are
designed to promote just and equitable principles of trade, to foster
cooperation and coordination with persons engaged in facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system and,
in general, to protect investors and the public interest. The Super
Aggressive instruction is an optional feature that is intended to
reflect the order management practices of various market participants.
The proposal to limit the execution of an order with a Super Aggressive
instruction to execute against incoming Post Only Orders that also are
designated as displayed orders promotes just and equitable principles
of trade because it enables Users to elect an order instruction
consistent with their intent to execute only against displayed orders,
in part, for best execution purposes. The amended Super Aggressive
instruction would ensure executions at the best available price
displayed on another Trading Center or against an incoming order that
would have been displayed on the BZX Book. Users seeking to act as a
liquidity remover once resting on the BZX Book and execute against an
incoming Post Only Order that is also designated as a non-displayed
order may attach the NDS instruction to their order.\16\
---------------------------------------------------------------------------

    \16\ See Exchange Rule 11.9(c)(12).
---------------------------------------------------------------------------

    The proposed change to the Super Aggressive instruction also
removes impediments to and perfects the mechanism of a free and open
market and a national market system because it

is designed to facilitate executions that would otherwise not occur due
to the Post Only Order requirement to not remove liquidity. The
proposal enables non-displayed Super Aggressive orders to execute
against an incoming order, regardless of whether another non-displayed
order without a Super Aggressive instruction maintains priority
consistent with the User's intent for both orders--one chooses to
remain the liquidity provider and forgo the execution while the other
is willing to execute irrespective of whether it is the liquidity
provider or remover. The non-Super Aggressive order seeks to remain a
liquidity provider and cede its time priority to the order with a Super
Aggressive instruction, which is willing to act as a liquidity remover
to facilitate the execution. It also enables an order without the Super
Aggressive instruction to remain on the BZX Book as a liquidity
provider, consistent with the expected operation of their resting
order. The Exchange notes that similar behavior occurs for orders
utilizing the NDS \17\ instruction, which also seeks to engage in a
liquidity swap against incoming Post Only Orders. Finally, by limiting
the proposed change to non-displayed orders, the proposal remains
consistent with NDS and also retains existing functionality with
respect to the handling of displayed orders.
---------------------------------------------------------------------------

    \17\ See supra note 10.
---------------------------------------------------------------------------

    For the reasons set forth above, the Exchange believes the proposal
removes impediments to and perfects the mechanism of a free and open
market and a national market system, and, in general, protects
investors and the public interest.

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. On
the contrary, the proposed changes to the Super Aggressive order
instruction are intended to improve the usefulness of the instruction
and to align its operation with the intention of the User, resulting in
enhanced competition through increased usage and execution quality on
the Exchange. Thus, to the extent the change is intended to improve
functionality on the Exchange to encourage Users to direct their orders
to the Exchange, the change is competitive, but the Exchange does not
believe the proposed change will result in any burden on intermarket
competition as it is a minor change to available functionality. The
proposed changes to the Super Aggressive order instruction also promote
intramarket competition because they will facilitate the execution of
orders that would otherwise remain unexecuted consistent with the
intent of the User entering the order, thereby increasing the efficient
functioning of the Exchange. Further, the Super Aggressive order
instruction will remain available to all Users in the same way it is
today. Thus, Users can continue to choose between various optional
order instructions, including Super Aggressive, NDS, and others,
depending on the order handling they prefer the Exchange to utilize.
Therefore, the Exchange does not believe the proposed rule change will
result in any burden on intramarket competition that is not necessary
or appropriate in furtherance of the purposes of the Act.

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

    The Exchange has neither solicited nor received written comments on
the proposed rule change.

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 from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A)(iii) of the Act \18\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\19\
---------------------------------------------------------------------------

    \18\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \19\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the date of the filing. However,
Rule 19b-4(f)(6)(iii) \20\ permits the Commission to designate a
shorter time if such action is consistent with the protection of
investors and the public interest. In its filing, BZX requested that
the Commission waive the 30-day operative delay so that the Exchange
can implement the proposed rule change promptly after filing. The
Exchange stated that the proposal to allow an order with a Super
Aggressive instruction to execute against an incoming Post Only order
only if the Post Only order is displayable is consistent with the use
of the Super Aggressive instruction to access liquidity displayed on
other Trading Centers. Further, according to the Exchange, users
seeking to execute against incoming non-displayable Post Only orders
will continue to be able to attach the NDS order instruction, as well
as other order instructions that may permit such executions. In
addition, the Exchange stated that the proposed priority change where
non-displayed orders without a Super Aggressive instruction would cede
priority to non-displayed orders with a Super Aggressive instruction is
similar to, and consistent with, the Exchange's priority ceding
functionality for orders with an NDS instruction and would facilitate
executions that would otherwise not occur due to an incoming Post Only
order's requirement not to remove liquidity. The Commission believes
that waiver of the 30-day operative delay is consistent with the
protection of investors and the public interest, as the proposed rule
change relates to optional functionality that is consistent with
existing functionality and, if selected by Exchange users, may enable
them to better manage their orders and may increase order interaction
on the Exchange. Accordingly, the Commission hereby waives the 30-day
operative delay and designates the proposed rule change operative upon
filing.\21\
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    \20\ 17 CFR 240.19b-4(f)(6)(iii).
    \21\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-CboeBZX-2018-051 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-CboeBZX-2018-051. 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-CboeBZX-2018-051, and should be
submitted on or before August 15, 2018.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
---------------------------------------------------------------------------

    \22\ 17 CFR 200.30-3(a)(12) and (59).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-15848 Filed 7-24-18; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register: December 18, 2008 (Volume 73, Number 244)]
[Notices]
[Page 77023-77024]
[DOCID:fr18de08-57]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER09-352-000]

West Valley Holdings, LLC; Supplemental Notice That Initial
Market-Based Rate Filing Includes Request for Blanket Section 204
Authorization

December 11, 2008.
    This is a supplemental notice in the above-referenced proceeding of
West Valley Holdings, LLC's application for market-based rate
authority, with an accompanying rate tariff, noting that such
application includes a request for blanket authorization, under 18 CFR
Part 34, of future issuances of securities and assumptions of
liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street, NE.,
Washington, DC 20426, in accordance with Rules 211 and 214 of the
Commission's Rules of Practice and Procedure (18 CFR 385.211 and
385.214). Anyone filing a motion to intervene or protest must serve a
copy of that document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR Part 34, of future issuances of securities and assumptions of
liability, is December 30, 2008.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://
www.ferc.gov. To facilitate electronic

service, persons with Internet access who will eFile a document and/or
be listed as a contact for an intervenor must create and validate an
eRegistration account using the eRegistration link. Select the eFiling
link to log on and submit the intervention or protests.
    Persons unable to file electronically should submit an original and
14 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First St. NE., Washington, DC 20426.
    The filings in the above-referenced proceeding are accessible in
the Commission's eLibrary system by clicking on the appropriate link in
the above list. They are also 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>.

Kimberly D. Bose,
Secretary.
[FR Doc. E8-29987 Filed 12-17-08; 8:45 am]

BILLING CODE 6717-01-P