[Federal Register Volume 88, Number 146 (Tuesday, August 1, 2023)]
[Rules and Regulations]
[Pages 50018-50020]
[FR Doc No: 2023-16208]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2022-0245; Airspace Docket No. 19-AAL-49]
RIN 2120-AA66

Establishment of United States Area Navigation (RNAV) Route T-
380; Emmonak, AK

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This action establishes United States Area Navigation (RNAV)
T-route,

T-380, in the vicinity of Emmonak, AK in support of a large and
comprehensive T-route modernization project for the state of Alaska.

DATES: Effective date 0901 UTC, October 5, 2023. The Director of the
Federal Register approves this incorporation by reference action under
1 CFR part 51, subject to the annual revision of FAA Order JO 7400.11
and publication of conforming amendments.

ADDRESSES: A copy of the notice of proposed rulemaking (NPRM), all
comments received, this final rule, and all background material may be
viewed online at www.regulations.gov using the FAA Docket number.
Electronic retrieval help and guidelines are available on the website.
It is available 24 hours each day, 365 days each year.
    FAA Order JO 7400.11G, Airspace Designations and Reporting Points,
and subsequent amendments can be viewed online at www.faa.gov/air_traffic/publications/. You may also contact the Rules and
Regulations Group, Federal Aviation Administration, 800 Independence
Avenue SW, Washington, DC 20591; telephone:<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Paul Gallant, Rules and Regulations
Group, Office of Policy, Federal Aviation Administration, 800
Independence Avenue SW, Washington, DC 20591; telephone: (202) 267-
8783.

SUPPLEMENTARY INFORMATION:

Authority for This Rulemaking

    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the United States Code. Subtitle I, Section 106
describes the authority of the FAA Administrator. Subtitle VII,
Aviation Programs, describes in more detail the scope of the agency's
authority. This rulemaking is promulgated under the authority described
in Subtitle VII, Part A, Subpart I, Section 40103. Under that section,
the FAA is charged with prescribing regulations to assign the use of
the airspace necessary to ensure the safety of aircraft and the
efficient use of airspace. This regulation is within the scope of that
authority as it expands the availability of RNAV in Alaska and improve
the efficient flow of air traffic within the National Airspace System
by lessening the dependency on ground-based navigation.

History

    The FAA published a NPRM for Docket No. FAA-2022-0244 in the
Federal Register (87 FR 16679; March 24, 2022), establishing RNAV T-
route, T-380, in the vicinity of Emmonak, AK in support of a large and
comprehensive T-route modernization project for the state of Alaska.
Interested parties were invited to participate in this rulemaking
effort by submitting comments on the proposal. No comments were
received.

Incorporation by Reference

    United States Area Navigation routes are published in paragraph
2006 of FAA Order JO 7400.11, Airspace Designations and Reporting
Points, which is incorporated by reference in 14 CFR 71.1 on an annual
basis. This document amends the current version of that order, FAA
Order JO 7400.11G, dated August 19, 2022, and effective September 15,
2022. FAA Order JO 7400.11G is publicly available as listed in the
ADDRESSES section of this document. These amendments will be published
in the next update to FAA Order JO 7400.11.
    FAA Order JO 7400.11G lists Class A, B, C, D, and E airspace areas,
air traffic service routes, and reporting points.

The Rule

    This action amends 14 CFR part 71 by establishing RNAV route T-380
in the vicinity of Emmonak, AK in support of a large and comprehensive
T-route modernization project in the state of Alaska.
    The new route is described below.
    T-380: T-380 extends from the Emmonak, AK, (ENM) Very High
Frequency (VHF) Omnidirectional Range/Distance Measuring Equipment
(VOR/DME) to the Sparrevohn, AK (SQA), VOR/DME, due to the
decommissioning of the St. Mary's, (SMA) AK, the Aniak, (ANI) AK, and
the Cairn Mountain, (CRN) AK, Non-directional Radio Beacons (NDB).
    The full description of T-380 is listed in the amendments to part
71 set forth below. This action is necessary to support T-route
modernization project for the state of Alaska.

Regulatory Notices and Analyses

    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current.
It, therefore: (1) is not a ``significant regulatory action'' under
Executive Order 12866; (2) is not a ``significant rule'' under
Department of Transportation (DOT) Regulatory Policies and Procedures
(44 FR 11034; February 26, 1979); and (3) does not warrant preparation
of a regulatory evaluation as the anticipated impact is so minimal.
Since this is a routine matter that only affects air traffic procedures
and air navigation, it is certified that this rule, when promulgated,
does not have a significant economic impact on a substantial number of
small entities under the criteria of the Regulatory Flexibility Act.

Environmental Review

    The FAA has determined that this airspace action of establishing
RNAV route T-380 in the vicinity of Emmonak, AK qualifies for
categorical exclusion under the National Environmental Policy Act (42
U.S.C. 4321 et seq.) and its implementing regulations at 40 CFR part
1500, and in accordance with FAA Order 1050.1F, Environmental Impacts:
Policies and Procedures, paragraph 5-6.5a, which categorically excludes
from further environmental impact review rulemaking actions that
designate or modify classes of airspace areas, airways, routes, and
reporting points (see 14 CFR part 71, Designation of Class A, B, C, D,
and E Airspace Areas; Air Traffic Service Routes; and Reporting
Points), and paragraph 5-6.5i, which categorically excludes from
further environmental review the establishment of new or revised air
traffic control procedures conducted at 3,000 feet or more above ground
level (AGL); procedures conducted below 3,000 feet AGL that do not
cause traffic to be routinely routed over noise sensitive areas;
modifications to currently approved procedures conducted below 3,000
feet AGL that do not significantly increase noise over noise sensitive
areas; and increases in minimum altitudes and landing minima. As such,
this action is not expected to result in any potentially significant
environmental impacts. In accordance with FAA Order 1050.1F, paragraph
5-2 regarding Extraordinary Circumstances, the FAA has reviewed this
action for factors and circumstances in which a normally categorically
excluded action may have a significant environmental impact requiring
further analysis. Accordingly, the FAA has determined that no
extraordinary circumstances exist that warrant preparation of an
environmental assessment or environmental impact study.

List of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

The Amendment

    In consideration of the foregoing, the Federal Aviation
Administration amends 14 CFR part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

0
1. The authority citation for 14 CFR part 71 continues to read as
follows:

    Authority:  49 U.S.C. 106(f), 106(g); 40103, 40113, 40120; E.O.
10854, 24 FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1  [Amended]

0
2. The incorporation by reference in 14 CFR 71.1 of FAA Order JO
7400.11G, Airspace Designations and Reporting Points, dated August 19,
2022, and effective September 15, 2022, is amended as follows:

Paragraph 6011 United States Area Navigation Routes

                                                  T-380 Emmonak, AK (ENM) to Sparrevohn, AK (SQA) [New]
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Emmonak, AK (ENM)........................  VOR/DME                        (Lat. 62[deg]47'04.52'' N, long. 164[deg]29'15.12'' W).
HUROP, AK................................  WP                             (Lat. 62[deg]05'37.50'' N, long. 163[deg]41'00.03'' W).
JOPES, AK................................  WP                             (Lat. 62[deg]03'33.30'' N, long. 163[deg]17'07.68'' W).
CIBUP, AK................................  WP                             (Lat. 61[deg]34'53.76'' N, long. 159[deg]32'34.95'' W).
AMEDE, AK................................  WP                             (Lat. 61[deg]34'17.31'' N, long. 158[deg]25'46.86'' W).
CERTU, AK................................  WP                             (Lat. 61[deg]25'08.81'' N, long. 157[deg]15'46.63'' W).
FABGI, AK................................  WP                             (Lat. 61[deg]13'51.69'' N, long. 156[deg]14'37.32'' W).
Sparrevohn, AK (SQA).....................  VOR/DME                        (Lat. 61[deg]05'54.89'' N, long. 155[deg]38'04.49'' W).

* * * * *

    Issued in Washington, DC, on July 26, 2023.
Karen L. Chiodini,
Acting Manager, Rules and Regulation Group.
[FR Doc. 2023-16208 Filed 7-31-23; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 83, Number 199 (Monday, October 15, 2018)]
[Notices]
[Pages 52039-52042]
[FR Doc No: 2018-22293]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84387; File No. SR-PEARL-2018-21]

Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing
and Immediate Effectiveness of a Proposed Rule Change To Amend the MIAX
PEARL Fee Schedule

October 9, 2018.
    Pursuant to the provisions of Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice
is hereby given that on September 28, 2018, MIAX PEARL, LLC (``MIAX
PEARL'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') a proposed rule change as described in
Items I, II, and III below, which Items have been prepared by the
Exchange. The Commission is publishing this notice to solicit comments
on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.

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

    The Exchange is filing a proposal to amend the MIAX PEARL Fee
Schedule (the ``Fee Schedule'').
    The text of the proposed rule change is available on the Exchange's
website at http://www.miaxoptions.com/rule-filings/pearl at MIAX
PEARL's principal office, and at the Commission's Public Reference
Room.

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

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

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

1. Purpose
    The Exchange proposes to amend the Add/Remove Tiered Rebates/Fees
set forth in Section (1)(a) of the Fee Schedule to decrease the
``Taker'' fee in Tier 1 assessable to Priority Customers \3\ orders for
options in the symbol SPY.
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    \3\ ``Priority Customer'' means a person or entity that (i) is
not a broker or dealer in securities, and (ii) does not place more
than 390 orders in listed options per day on average during a
calendar month for its own beneficial account(s). See Exchange Rule
100, including Interpretations and Policies .01.
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    The Exchange currently assesses transaction rebates and fees to all
market participants which are based upon the total monthly volume
executed by the Member \4\ on MIAX PEARL in the relevant, respective
origin type (not including Excluded Contracts) \5\ expressed as a
percentage of TCV.\6\ In addition, the per contract transaction rebates
and fees are applied retroactively to all eligible volume for that
origin type once the respective threshold tier (``Tier'') has been
reached by the Member. The Exchange aggregates the volume of Members
and their Affiliates.\7\ Members that place resting liquidity, i.e.,
orders resting on the book of the MIAX PEARL System,\8\ are paid the
specified ``maker'' rebate (each a ``Maker''), and Members that execute
against resting liquidity are assessed the specified ``taker'' fee
(each a ``Taker''). For opening transactions and ABBO uncrossing
transactions, per contract transaction rebates and fees are waived for
all market participants. Finally, Members are assessed lower
transaction fees and receive lower rebates for order executions in
standard option classes in the Penny Pilot Program \9\ (``Penny
classes'') than for order executions in standard option classes which
are not in the Penny Pilot Program (``Non-Penny classes''), where
Members are assessed higher transaction fees and receive higher
rebates. Transaction rebates and fees in Section (1)(a) of the Fee
Schedule are currently assessed for Priority Customer orders according
to the following table:
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    \4\ ``Member'' means an individual or organization that is
registered with the Exchange pursuant to Chapter II of the Exchange
Rules for purposes of trading on the Exchange as an ``Electronic
Exchange Member'' or ``Market Maker.'' Members are deemed
``members'' under the Exchange Act. See the Definitions Section of
the Fee Schedule and Exchange Rule 100.
    \5\ ``Excluded Contracts'' means any contracts routed to an away
market for execution. See the Definitions Section of the Fee
Schedule.
    \6\ ``TCV'' means total consolidated volume calculated as the
total national volume in those classes listed on MIAX PEARL for the
month for which the fees apply, excluding consolidated volume
executed during the period time in which the Exchange experiences an
``Exchange System Disruption'' (solely in the option classes of the
affected Matching Engine (as defined below)). The term Exchange
System Disruption, which is defined in the Definitions section of
the Fee Schedule, means an outage of a Matching Engine or collective
Matching Engines for a period of two consecutive hours or more,
during trading hours. The term Matching Engine, which is also
defined in the Definitions section of the Fee Schedule, is a part of
the MIAX PEARL electronic system that processes options orders and
trades on a symbol-by-symbol basis. Some Matching Engines will
process option classes with multiple root symbols, and other
Matching Engines may be dedicated to one single option root symbol
(for example, options on SPY may be processed by one single Matching
Engine that is dedicated only to SPY). A particular root symbol may
only be assigned to a single designated Matching Engine. A
particular root symbol may not be assigned to multiple Matching
Engines. The Exchange believes that it is reasonable and appropriate
to select two consecutive hours as the amount of time necessary to
constitute an Exchange System Disruption, as two hours equates to
approximately 1.4% of available trading time per month. The Exchange
notes that the term ``Exchange System Disruption'' and its meaning
have no applicability outside of the Fee Schedule, as it is used
solely for purposes of calculating volume for the threshold tiers in
the Fee Schedule. See the Definitions Section of the Fee Schedule.
    \7\ ``Affiliate'' means (i) an affiliate of a Member of at least
75% common ownership between the firms as reflected on each firm's
Form BD, Schedule A, or (ii) the Appointed Market Maker of an
Appointed EEM (or, conversely, the Appointed EEM of an Appointed
Market Maker). An ``Appointed Market Maker'' is a MIAX PEARL Market
Maker (who does not otherwise have a corporate affiliation based
upon common ownership with an EEM) that has been appointed by an EEM
and an ``Appointed EEM'' is an EEM (who does not otherwise have a
corporate affiliation based upon common ownership with a MIAX PEARL
Market Maker) that has been appointed by a MIAX PEARL Market Maker,
pursuant to the process described in the Fee Schedule. See the
Definitions Section of the Fee Schedule.
    \8\ The term ``System'' means the automated trading system used
by the Exchange for the trading of securities. See Exchange Rule
100.
    \9\ See Securities Exchange Act Release No. 79778 (January 12,
2017), 82 FR 6662 (January 19, 2017) (SR-PEARL-2016-01).

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                                                                    Per contract rebates/fees for penny classes            Per contract rebates/fees for
                                                         ----------------------------------------------------------------        non-penny classes
            Origin/Tier                Volume criteria                                                     QQQ, IWM, VXX -------------------------------
                                                               Maker          Taker *        SPY taker         taker           Maker           Taker
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Priority Customer:
    1.............................  0.00%-0.10%.........         ($0.25)           $0.48           $0.44           $0.47         ($0.85)           $0.87
    2.............................  Above 0.10%-0.35%...          (0.40)            0.46            0.43            0.46          (0.95)            0.86
    3.............................  Above 0.35%-0.50%...          (0.45)            0.44            0.42            0.44          (1.00)            0.85
    4.............................  Above 0.50%-0.75%...          (0.52)            0.44            0.41            0.43          (1.03)            0.84
    5.............................  Above 0.75%-1.25%...          (0.53)            0.44            0.40            0.42          (1.04)            0.84
    6.............................  Above 1.25%.........          (0.53)            0.43            0.38            0.40          (1.04)            0.84
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* For all Penny Classes other than SPY, QQQ, IWM, and VXX.

    The Exchange currently charges Taker fees for orders for options in
the symbol SPY corresponding to the Tiers and volume thresholds which
are applicable to Priority Customer orders. The Exchange currently
charges a Taker fee in Tier 1 of $0.44 for Priority Customer orders for
options in the symbol SPY.
    The Exchange proposes to decrease the Taker fee for Priority
Customer orders for options in the symbol SPY in Tier 1 from $0.44 to
$0.43. The purpose of decreasing the Taker fee for Priority Customer
orders for options in the symbol SPY to $0.43 in Tier 1 is for business
and competitive reasons to encourage greater volume on the Exchange of
Priority Customer orders by offering a lower rate in Tier 1. The
Exchange believes that reducing the Taker fee for Priority Customer
orders for options in the symbol SPY to $0.43 per contract fee in Tier
1 will incentivize Members to execute more volume on the Exchange in
Priority Customer orders due to favorable pricing for this liquidity
type in Tier 1. There are no other changes proposed to the fee table.
    The proposed change is scheduled to become operative October 1,
2018.
2. Statutory Basis
    The Exchange believes that its proposal to amend its Fee Schedule
is consistent with Section 6(b) of the Act \10\ in general, and
furthers the objectives of Section 6(b)(4) of the Act,\11\ in that it
is an equitable allocation of reasonable dues, fees and other charges
among Exchange members and issuers and other persons using its
facilities, and 6(b)(5) of the Act,\12\ in that it is designed to
prevent fraudulent and manipulative acts and practices, to promote just
and equitable principles of trade, to foster cooperation and
coordination with persons engaged in facilitating transactions in
securities, to remove impediments to and perfect the mechanisms of a
free and open market and a national market system and, in general, to
protect investors and the public interest.
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    \10\ 15 U.S.C. 78f(b).
    \11\ 15 U.S.C. 78f(b)(4).
    \12\ 15 U.S.C. 78f(b)(1) and (b)(5).
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    The proposed Taker fee decrease for Priority Customer orders for
options in the symbol SPY in Tier 1 is reasonable, equitable, and not
unfairly discriminatory, since it is intended to incentivize order flow
to be sent to the Exchange for execution in an actively traded options
class. SPY options are the most actively traded class. The Exchange
therefore believes that incentivizing Members will benefit all market
participants through increased liquidity, tighter markets and order
interaction.
    Furthermore, the proposed decrease to the Taker fee for Priority
Customer orders for options in the symbol SPY in Tier 1 promotes just
and equitable principles of trade, fosters cooperation and coordination
with persons engaged in facilitating transactions in securities, and
protects investors and the public interest because the proposed
decrease in the fee will encourage Members to send more Priority
Customer orders to the Exchange since they will be assessed a reduced
Taker fee in Tier 1. To the extent that Priority Customer order flow in
the symbol SPY is increased by the proposal, market participants will
increasingly compete for the opportunity to trade on the Exchange,
including sending more orders which will have the potential to be
assessed lower fees and higher rebates. The resulting increased volume
and liquidity will benefit all Exchange participants by providing more
trading opportunities and tighter spreads.

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

    MIAX PEARL does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. The proposed Taker fee decrease
is intended to encourage execution of more volume on the Exchange. The
decrease in the Taker fee for Priority Customer orders of options in
the symbol SPY should enable the Exchange to attract and compete for
order flow with other exchanges which assess higher Taker fees in that
symbol. Further, the Exchange believes that the proposed decrease in
the Taker fee in Tier 1 for Priority Customer orders for options in the
symbol SPY creates further opportunities for bringing additional
liquidity to the market.
    The Exchange notes that it operates in a highly competitive market
in which market participants can readily favor competing venues if they
deem fee levels at a particular venue to be excessive. In such an
environment, the Exchange must continually adjust its rebates and fees
to remain competitive with other exchanges and to attract order flow.
The Exchange believes that the proposed rule change reflects this
competitive environment because it modifies the Exchange's fees in a
manner that encourages market participants to continue to provide
liquidity and to send order flow to the Exchange.

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

    Written comments were neither solicited nor received.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act,\13\ and Rule 19b-4(f)(2) \14\ thereunder.
At any time within 60 days of the filing of the proposed rule change,
the Commission summarily may temporarily suspend such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act. If the Commission takes such
action, the Commission shall institute proceedings to determine whether
the proposed rule should be approved or disapproved.
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    \13\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \14\ 17 CFR 240.19b-4(f)(2).
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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-PEARL-2018-21 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-PEARL-2018-21. 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-PEARL-2018-21, and should be
submitted on or before November 5, 2018.
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    \15\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-22293 Filed 10-12-18; 8:45 am]
 BILLING CODE 8011-01-P