[Federal Register: December 12, 2007 (Volume 72, Number 238)]
[Notices]
[Page 70586-70589]
[DOCID:fr12de07-39]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPP-2007-0181; FRL-8341-7]

Notice of Hearing Concerning a Request to Reduce Pre-Harvest
Interval for EBDC Fungicides on Potatoes; Amendment to Statement of
Issues

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: EPA is amending its July 11, 2007 Notice of Hearing (July
Notice) document concerning a request to reduce the pre-harvest
interval for the use of EBDC fungicides on potatoes. The July Notice
set forth EPA's determination, the rationale for that determination, a
description of the issues of fact and law to be adjudicated in the
hearing, and a schedule for the hearing. EPA's determination in the
July Notice that a hearing was appropriate was in response to the EBDC/
ETU Task Force's (Task Force) petition requesting that the 1992
cancellation order be amended to allow for a 3-day pre-harvest interval
(PHI) nationwide for use of EBDC pesticides on potatoes.

FOR FURTHER INFORMATION CONTACT: Kevin Costello, Special Review and
Reregistration Division (7508P), Office of Pesticide Programs,
Environmental Protection Agency, 1200 Pennsylvania Ave., NW.,
Washington, DC 20460-0001; telephone number:<PHONE_NUMBER>; fax
number:<PHONE_NUMBER>; e-mail address<EMAIL_ADDRESS>or
    Michele Knorr, Office of General Counsel, Pesticides and Toxic
Substances Law Office (2333A),

Environmental Protection Agency, 1200 Pennsylvania Ave., NW.,
Washington, DC 20460-0001; telephone number:<PHONE_NUMBER>; fax
number:<PHONE_NUMBER>; e-mail address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. General Information

    In 1992, EPA issued a Notice of Intent to Cancel (NOIC)
registrations containing EBDC's for use on certain crops. The crop at
issue for this hearing is potatoes. The NOIC stated that use of EBDC's
on potatoes would be canceled unless the registrants modified their
pesticide product labels. For a product to remain registered for use on
potatoes, the NOIC required that registrants amend their labels to
incorporate certain directions for use, including maximum application
rates, maximum number of applications per season, application interval,
and PHI. For certain states, the NOIC required a minimum 14-day PHI
and, for others, the NOIC allowed a minimum 3-day PHI due to disease
pressures caused by late blight. (57 FR 7484, March 2, 1992).
    In response to the NOIC, EBDC registrants and some non-registrants
requested a hearing. However, there was never a formal hearing; the
parties reached a settlement which included, among other things, an
agreement to amend labels to extend the PHI to 14 days for EBDC use on
potatoes in all states other than Connecticut, Delaware, Florida,
Maine, Massachusetts, Michigan, New Hampshire, New York, Ohio,
Pennsylvania, Rhode Island, Vermont, and Wisconsin. In these named
states, EPA agreed to allow a 3-day PHI because of the presence of late
blight. This settlement was approved by Judge Harwood in an order
issued June 16, 1992. FIFRA Docket number 646 et al. (Accelerated
Decision and Order, June 16, 1992).
    On December 26, 1996, the Task Force submitted its first request to
modify the existing cancellation order for the use of three products
containing EBDC on potatoes: Mancozeb, maneb, and metiram. In that
petition, the Task Force requested that the PHI be reduced from 14 days
to 3 days nationwide to address the spread of late blight disease
(Phytophthora infestans) in potatoes. Late blight is a fungal disease
that caused the infamous ``Irish Potato Famine'' in the 1840's. If not
adequately controlled, this disease is capable of destroying the crop
in the field (foliar blight phase) and/or in storage (tuber rot phase).
EPA delayed acting on this petition because intervening statutory
amendments required the Agency to reassess how it evaluated pesticide
registration actions.\1\
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    \1\The Food Quality Protection Act of 1996 amended FIFRA and the
FFDCA.
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    Because EPA had not yet acted on the 1996 petition, on August 25,
2003, the Task Force resubmitted its request to the Agency as part of
the EBDC reregistration process. Subsequently, the Agency informed the
Task Force that EPA had to consider the impact of the Food Quality
Protection Act of 1996 (FQPA) amendments to the Federal Insecticide,
Fungicide, and Rodenticide Act (FIFRA) and the Federal Food, Drug, and
Cosmetic Act (FFDCA) before any action could be taken on the request.
    Under 40 CFR part 164, subpart D, the Agency treated the Task Force
submission as a petition to modify the final cancellation order
concerning EBDC pesticide products. Such a petition may not be granted
without an opportunity for a formal adjudicatory hearing in front of an
Administrative Law Judge (ALJ). EPA concluded that the submissions by
the Task Force could provide an adequate basis for a hearing.
Therefore, in the Federal Register of July 11, 2007 (72 FR 37771) (FRL-
8118-4), EPA issued a notice of hearing that set forth the Agency
determination on the registrants' request to modify the 1992
cancellation order.
    That Notice: (1) Announced that EPA has decided to hold a hearing
regarding the petition to modify the existing cancellation order as it
applied to the use of products containing EBDC's (mancozeb, maneb, and
metiram) on potatoes and the allowance of a 3-day, rather than a 14-day
PHI, nationwide, (2) specified the issues of fact and law to be
considered at that hearing, (3) identified what steps interested
persons need to take if they wish to participate in the hearing, and
(4) established a schedule for the hearing. The Agency did not
determine as part of the Notice that the new information in fact
warrants an amendment to the previous cancellation order. That
determination is the subject of the hearing provided for in 40 CFR part
164, subpart D.
    In response to the July Notice, the Natural Resources Defense
Council (NRDC) filed a request for hearing on August 10, 2007. EPA and
the EBDC/ETU Task Force (Task Force) are automatically parties to this
hearing. The National Potato Council (NPC) requested and was granted
leave to intervene in the hearing on September 18, 2007.
    The Honorable Susan L. Biro, Chief ALJ, was designated to preside
over this proceeding. Judge Biro issued a Pre-Hearing Order on
September 19, 2007, directing the parties, among other things, to file
pre-hearing exchanges. EPA, the Task Force and NPC (Movants) filed a
motion requesting an extension of time to file the pre-hearing
exchanges as well as a request for a pre-hearing conference (Motion).
NRDC contested a portion of the Movants' motion and Movants replied to
NRDC's response. The Movant's Motion explained that there appeared to
be a concrete disagreement among the parties as to the scope of the
hearing. Two issues were discussed in the Movants' Motion and Reply.
First, the July Notice incorrectly identified an issue of law to be
adjudicated by the Court. Second, the Notice did not provide a
sufficiently clear explanation of the scope of the issues to be
considered in thehearing.\2\
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    \2\On October 29, 2007, Judge Biro issued an Order granting the
extension of time to file pre-hearing exchanges, but deferred the
request for a pre-hearing conference. Docket No. EPA-HQ-OPP-2007-
0181.
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    In light of the two issues stated above, EPA is amending the
Statement of Issues by consolidating the issues of fact and law into
the two relevant questions that must be determined by the ALJ
consistent with 40 CFR 164.132 and the 1992 cancellation action. EPA
believes the amended statement of issues provides necessary
clarifications that will allow for a more efficient and effective
hearing.
    This amendment does not alter EPA's previous determination under 40
CFR 164.131. (72 FR 37771) Additionally, NRDC does not need to file a
new request for hearing.

A. Does this Action Apply to Me?

    You may be potentially affected by this action if you are a party
to this hearing process, however, it may also be of interest to the
public in general, and a wide range of stakeholders including
environmental, human health, and agricultural advocates; the chemical
industry; pesticide users; and members of the public interested in the
sale, distribution, or use of pesticides. Since others also may be
interested, the Agency has not attempted to describe all the specific
entities that may be affected by this 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 a docket for this action under
docket identification (ID) number EPA-HQ-OPP-2007-0181. Publicly
available

docket materials are available either in the electronic docket athttp://www.regulations.gov
, or, if only available in hard copy, at the Office

of Pesticide Programs (OPP) Regulatory Public Docket in Rm. S-4400, One
Potomac Yard (South Bldg.), 2777 S. Crystal Dr., Arlington, VA. The
hours of operation of this Docket Facility are from 8:30 a.m. to 4
p.m., Monday through Friday, excluding legal holidays. The Docket
Facility telephone number 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.

II. Background

A. What Action is the Agency Taking?

    Pursuant to 40 CFR 164.23(b), EPA is amending its statement of
issues for the hearing that the Agency announced in the July 11, 2007
Notice. (See 72 FR at 37778, Unit VII.) In the July Notice, EPA
identified among the facts to be adjudicated certain questions
associated with late blight on potatoes. Among the issues to be
adjudicated in the proceeding, EPA identified the question of whether
the substantial new evidence could with due diligence have been
discovered prior to issuance of the 1992 cancellation order and whether
a nationwide PHI of 3 days for EBDC use on potatoes would meet the
standard of section 2(bb) of FIFRA. EPA believes amending the statement
of issues is necessary. Therefore, EPA is amending the July Notice by
replacing all the issues for hearing identified in that Notice with the
following issues to be adjudicated in this proceeding:
    1. Is there substantial new evidence not considered in the 1992
cancellation that relates to whether the dietary risks associated with
nationwide use of EBDCs on potatoes with a 3-day PHI satisfy the
relevant statutory standard for registration under FIFRA? For the
purposes of this hearing, the relevant portion of the FIFRA standard
for registration is whether the human dietary risk meets the safety
standard in section 408(b)(2) of FFDCA.
    2. Does the substantial new evidence with respect to dietary risk
require the modification of the existing cancellation order, i.e., does
it support a finding that the dietary risks associated with nationwide
use of EBDCs on potatoes with a 3-day PHI satisfy the relevant
statutory standard for registration under FIFRA? In other words, do the
residues that result from EBDCs on potatoes meet the safety standard in
section 408(b)(2) of FFDCA?

B. Why is the Agency Taking this Action?

    As required by 40 CFR 164.131(c), if the Administrator determines
that a hearing is warranted, the Administrator must publish a notice in
the Federal Register. The notice must set forth the issues of fact and
law to be adjudicated at the hearing. Because the issues set forth by
the Administrator in the notice of hearing establish the scope of the
hearing, it is important that those issues be clear. After discussions
with other parties to this proceeding and review of the ALJ's orders,
EPA determined that its earlier notice contained an error concerning
what factors are to be considered by the judge (i.e. ``due diligence'')
and that other changes would clarify and better focus the relevant
issues for this hearing.
    First, EPA is amending the statement of issues to correct a
misstatement by EPA in the July Notice. In that Notice, EPA identified
as an issue of law to be adjudicated the following: ``If it is
substantial new evidence, could the applicant, through due diligence,
have discovered this information prior to the issuance of the
cancellation order?'' (72 FR at 37778)
    Whether or not the applicant met this ``due diligence'' test is an
issue for the Administrator to determine before issuing the Notice of
Hearing, not for the Court to determine at hearing. 40 CFR 164.131(a)
sets forth the standard for determining whether, as a threshold matter,
a petition to amend a cancellation order has merit. This regulation
states that the Administrator will reconsider the merits of a prior
cancellation order when the Administrator finds that:
    (1) The applicant has presented substantial new evidence which
may materially affect the prior cancellation or suspension order and
which was not available to the Administrator at the time he made his
final cancellation or suspension determination and, (2) such
evidence could not, through the exercise of due diligence, have been
discovered by the parties to the cancellation or suspension
proceeding prior to the issuance of the final order. [emphasis
added]

    In contrast, 40 CFR 164.132(a) sets forth the issues for the ALJ to
decide in the hearing. The purpose of the hearing is not to determine
whether to reconsider the earlier order, but rather to determine
whether or not the earlier order should in fact be modified. The
relevant subsection of this regulation states:
    The burden of proof in the hearing convened pursuant to Sec.
164.131 shall be on the applicant and he shall proceed first. The
issues in the hearing shall be whether: (1) substantial new evidence
exists and (2) such substantial new evidence requires reversal or
modification of the existing cancellation or suspension order.

    The regulation at 40 CFR 164.132(a) does not include the ``due
diligence'' determination as one of the issues to be resolved at the
hearing. Additionally, in the preamble to these regulations, EPA
stated:
    For the following reasons, EPA is adopting a new Subpart D to
the Rules of Practice (40 CFR Part 164) setting forth the procedures
to be followed in the case of an application under FIFRA sections 3
or 18 which requests use of a pesticide on a site and on a pest for
which registration has been finally cancelled or suspended. These
revised procedures require that in any such case the Administrator
will initially determine, on the basis of the application and
supporting data, whether there is substantial new evidence which may
materially affect the prior order and whether such evidence could
not have been discovered by due diligence on the part of the parties
to the original proceeding. If it is determined that there is no
such evidence, then the application will be denied. If it is
determined that there is such evidence, then a formal hearing will
be convened to determine whether such evidence materially affects
the prior order and requires its modification. This determination
will be made on the basis of the record in the hearing and the
recommendations of the administrative law judge presiding over the
hearing, taking into account the human and environmental risks found
by the Administrator in his prior order and the cumulative impact of
past, present, and anticipated uses in the future. [emphasis added]
(53 FR 12261, 12264).

    As the preamble and regulatory text make clear, the determination
of whether the petitioner could have discovered and submitted the
information during the original proceeding is one for the Administrator
to make before any hearing is convened. This ``due diligence''
provision prevents registrants from wasting Agency resources and
continually relitigating cancellation cases by allowing the
Administrator to summarily reject applications that are based on
factual information that should have been presented in the earlier
proceeding. In contrast, the focus of the subpart D hearing itself is
on whether the earlier cancellation decision is still correct in light
of the new information. This is similar to the focus of the original
cancellation hearing--whether the pesticide at issue meets the
applicable standard for registration under FIFRA.
    Because the ``due diligence'' test is one to be determined before
commencement of a subpart D hearing, EPA is amending the statement of
issues to delete this issue.
    Second, EPA is amending the statement of issues to reflect the fact

that risk issues unrelated to the dietary risk of EBDC use on potatoes
are not relevant for this hearing. Typically, the scope of the subpart
D hearing would be determined by a detailed cancellation order from the
earlier proceeding. However, as described above, there was no prior
hearing because the parties to the earlier proceeding agreed to a
settlement. Had there been a hearing and subsequent detailed
cancellation order, the scope of this subpart D hearing would have been
determined by that order. Since there was no detailed cancellation
order, EPA's 1992 NOIC (as it relates to EBDC use on potatoes) must be
used to determine the issues to be considered in the present hearing
because it is the best evidence of what issues would have been
presented at the cancellation hearing had it taken place. (57 FR 7484,
March 2, 1992).
    The NOIC was the result of a regulatory process known as ``Special
Review.''\3\ The NOIC stated that the basis for the initiation of the
Special Review for the uses of EBDC fungicides. Specifically, for
potatoes, the following issues were of concern: ``carcinogenic,
developmental, and thyroid effects caused by ethylenethiourea (ETU).''
(57 FR at 7487). Had a cancellation hearing been held, these would have
been the issues for the hearing. Only information related to these
three risks, or to dietary exposures associated with these three risks,
is material to the issue of whether the 1992 cancellation order should
be modified to allow for a shorter PHI than called for in theNOIC.
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    \3\The purpose of Special Review is to help the Agency determine
whether to initiate procedures to cancel, deny, or reclassify
registration of a pesticide product because uses of that product may
cause unreasonable adverse effects on the environment. See 40 CFR
part 154.
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    The relevant statutory standard for determining whether dietary
risks are acceptable under FIFRA is not the same today as it was in
1992. At the time of the 1992 cancellation proceedings, the presence of
late blight in the New England states was relevant to a reduced PHI of
3 days being allowed in those states. At this time, however, whether
late blight has spread nationwide and whether EBDCs are necessary are
not appropriate for consideration by the ALJ when determining whether
the 1992 cancellation order must be modified.
    The 1996 Food Quality Protection Act amendments to FIFRA and FFDCA
require that dietary risks associated with a pesticide chemical's
residue on food now be evaluated under the risk-only safety standard as
set forth in FFDCA section 408(b). The safety determination that now
must be made is whether there is a ``reasonable certainty that no harm
will result from aggregate exposure to the pesticide chemical residue,
including all anticipated dietary exposures.'' FFDCA section
408(b)(2)(A)(ii). Since this standard is a risk-only evaluation, EPA
determined that it was necessary to amend the statement of issues to
reflect the correct statutory standard and to eliminate the
consideration of factual issues, such as the need for the pesticide,
that are not relevant to the applicable standard.\4\
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    \4\The presence of late blight nationwide and the need for EBDC
fungicides is not relevant to the risk-only finding that the court
must make in order to determine whether the earlier cancellation
order must be modified.
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C. What is the Agency's Authority for Taking this Action?

    EPA regulation at 40 CFR 164.132 states that the procedures for the
hearing ``shall follow the Rules of Practice set forth in subparts A
and B.'' In subpart B, specifically 40 CFR 164.23(b), the Administrator
has the authority to amend the statement of issues EPA set forth in a
Notice of Hearing at any time prior to the commencement of the public
hearing. Pursuant to these provisions, and the fact that a public
hearing has not yet commenced, EPA is amending the statement of issues
it issued in its July 2007 Notice of Hearing to ensure that the hearing
is focused on the issues that are relevant to the risk-only
determination. In light of this amendment, the ALJ may determine that
additional time is necessary to permit the parties to prepare for
matters raised in this amendment; and, upon such determination, the
hearing shall be delayed for appropriate period. See 40 CFR 164.23(b).

List of Subjects

    Environmental protection, EBDC fungicides, Pesticides and pests.

    Dated: November 30, 2007.
Steven Bradbury,
Director, Special Review and Reregistration Division, Office of
Pesticide Programs.
[FR Doc. E7-23948 Filed 12-11-07; 8:45 am]

BILLING CODE 6560-50-S


[Federal Register Volume 79, Number 182 (Friday, September 19, 2014)]
[Notices]
[Page 56353]
[FR Doc No: 2014-22393]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings 2

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER14-2848-000.
    Applicants: Liberty Utilities (Granite State Electric).
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii):
Borderline Sales Rate Sheet Update to be effective 11/1/2013.
    Filed Date: 9/11/14.
    Accession Number: 20140911-5081.
    Comments Due: 5 p.m. ET 10/2/14.

    Docket Numbers: ER14-2849-000.
    Applicants: Southwest Power Pool, Inc.
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii): 2953
Cottonwood II Wind Project, LLC GIA to be effective 9/2/2014.
    Filed Date: 9/11/14.
    Accession Number: 20140911-5087.
    Comments Due: 5 p.m. ET 10/2/14.

    Docket Numbers: ER14-2850-000.
    Applicants: Southwest Power Pool, Inc.
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii):
Integrated System Open Access Transmission Tariff Revisions to be
effective 10/1/2015.
    Filed Date: 9/11/14.
    Accession Number: 20140911-5114.
    Comments Due: 5 p.m. ET 10/2/14.

    Docket Numbers: ER14-2851-000.
    Applicants: Southwest Power Pool, Inc.
    Description: Sec.  205(d) rate filing per 35.13(a)(2)(iii):
Integrated System Bylaws and Membership Agreement Revisions to be
effective 11/10/2014.
    Filed Date: 9/11/14.
    Accession Number: 20140911-5115.
    Comments Due: 5 p.m. ET 10/2/14.

    Docket Numbers: ER14-2852-000.
    Applicants: Westar Energy, Inc.
    Description: Compliance filing per 35: Compliance Filing Revising
Formula Rate Protocols to be effective 3/1/2015.
    Filed Date: 9/11/14.
    Accession Number: 20140911-5149.
    Comments Due: 5 p.m. ET 10/2/14.

    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: September 11, 2014.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2014-22393 Filed 9-18-14; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register: April 29, 2009 (Volume 74, Number 81)]
[Notices]
[Page 19609-19612]
[DOCID:fr29ap09-146]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59815; File No. SR-NYSE-2009-41]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Amending NYSE Rules 15 and 123C Regarding the Operation of Its NYSE
Order Imbalance Information Service To Modify the Reference Price at
Which the Exchange Reports the Order Imbalance Information and Clarify
What Information Is Included and Excluded From the Order Imbalance
Information Reports

April 23, 2009.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on April 17, 2009, New York Stock Exchange LLC (``NYSE'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I
and II below, which Items have been prepared by the self-regulatory
organization. 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\ 15 U.S.C. 78a.
    \3\ 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 proposes to amend NYSE Rules 15 and 123C regarding the
operation of its NYSE Order Imbalance Information service to: (1)
modify the reference price at which the Exchange reports the Order
Imbalance Information; and (2) clarify what information is included and
excluded from the Order Imbalance Information reports. The text of the
proposed rule change is available at the Exchange, the Commission's
Public Reference Room, and http://www.nyse.com.

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 self-regulatory organization
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 those 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 New York Stock Exchange LLC (the ``Exchange'') is proposing to
amend NYSE Rules 15 and 123C regarding the operation of its NYSE Order
Imbalance Information service to: (1) modify the reference price at
which the Exchange reports the Order Imbalance Information; and (2)
clarify what information is included and excluded from the Order
Imbalance Information reports.
    The Exchange notes that parallel changes are proposed to be made to
the rules of NYSE Amex LLC (formerly the American Stock Exchange).\4\
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    \4\ See SR-NYSEAmex-2009-13 (to be filed April 17, 2009).
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a. Background
    By order dated March 9, 2009 (the ``Approval Order''), the
Commission approved a $500 monthly access fee for the Exchange's NYSE
Order Imbalance Information service.\5\ NYSE Order Imbalance
Information is a datafeed of real-time order imbalances that accumulate
prior to the opening of trading on the Exchange and prior to the close
of trading on the Exchange. These orders are subject to execution at
the market's opening or closing price, as the case may be, and
represent issues that are likely to be of particular trading interest
at the opening or closing.
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    \5\ See Securities Exchange Act Release No. 59543 (March 9,
2009), 74 FR 11159 (March 16, 2009) (SR-NYSE-2008-132).
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    The Exchange distributes information about these imbalances in
real-time at specified intervals prior to the opening and closing
auctions. As set forth in the Approval Order, the Exchange currently
makes order imbalance information available at the following intervals.
    For opening Order Imbalance Information:
     Every five minutes between 8:30 a.m. EST and 9 a.m. EST.
     Every one minute between 9 a.m. EST and 9:20 a.m. EST.
     Every 15 seconds between 9:20 a.m. EST and the opening (or
9:35 a.m. EST if the opening is delayed).
    For closing Order Imbalance Information:
     Every fifteen seconds between 3:40 p.m. EST and 3:50 p.m.
EST.
     Every five seconds between 3:50 p.m. EST and 4 p.m. EST.
Reference Price
    The NYSE Order Imbalance Information service that is the subject of
the Approval Order uses the last sale price as the reference price for
the Order Imbalance Information. In the case of opening order
imbalances, this means the last sale price at the end of the prior
trading day. For closing order imbalances, the reference price is equal
to the last sale price.
Orders Included in NYSE Order Imbalance Information Reports
    The NYSE Order Imbalance Information service that is the subject of
the Approval Order provides the following information:
    (A) In the case of the pre-opening datafeed, all interest eligible
to trade in the opening transactions excluding odd-lot orders and the
odd-lot portion of partial round-lot orders. Floor broker interest
includes all interest except non-displayed reserve interest marked ``Do
Not Display'' (``DND''). Customer interest includes all interest except
for non-displayed reserve interest. DMM interest is not included in the
pre-opening datafeed.
    (B) In the case of pre-closing datafeed, all market-on-close orders
and limit-on-close orders eligible to participate in the closing
transaction. It excludes odd-lot orders, the odd-lot portion of partial
round-lot orders, DMM interest and Crowd interest.
b. Proposed Amendments
Reference Price
    In order to provide the most accurate imbalance information, the
Exchange proposes to modify what constitutes the reference price for
the dissemination of the NYSE Order Imbalance Information feed. Prior
to the opening transaction, if a pre-opening indication is published
pursuant to the provisions of NYSE Rule 15 (``Pre-Opening
Indications'') paragraphs (a) and (b), or in the event of a mandatory
publication \6\ pursuant to NYSE Rule 123D (``Openings and Halts in
Trading''), the reference price will no longer be the closing price of
the prior trading day.
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    \6\ Exchange policy requires the dissemination of an indication
in connection with any delayed opening--involving any stock which
has not opened (or been quoted) by 10 a.m. In addition, the
dissemination of an indication is mandatory for an opening which
will result in a significant price change from the previous close:
[See table above.]

------------------------------------------------------------------------
                                         Price change (equal or greater
     Previous NYSE closing price                     than)
------------------------------------------------------------------------
Under $10............................  1 point.
$10-$99.99...........................  the lesser of 10% or 3 points.
$100 and Over........................  5 points.
------------------------------------------------------------------------

The Exchange proposes to have the reference price equal the last sale
(previous closing price) or the price indication published under the
Rule 15 or 123D. Therefore, when the Exchange publishes a pre-opening
indication in a security pursuant to the provisions of paragraphs (a)
and (b) of NYSE Rule 15 or NYSE Rule 123D, the reference price will be
determined as follows:
     If the Bid Price from the indication (the lower price) is
higher than the last sale, the Reference Price will be the Bid.
     If the Offer Price from the indication (the higher price)
is lower than the last sale, the Reference Price will be the Offer.
     If the Last Sale is within the indication range, the Book
shall use the Last Sale as the Reference Price.
     If multiple indications have been published, the last
indication that the Exchange makes available shall be used as the
Reference Price.
Examples
    (1) XYZ security closed at a price of $15.00 on April 1, 2009. On
April 2, 2009, the Exchange publishes a pre-opening indication for XYZ
with a bid price of $16.00 and an offer price of $16.50. The reference
price for the NYSE Order Imbalance datafeed in XYZ security on April 2,
2009 will be $16.00.
    (2) XYZ security closed at a price of $15.00 on April 1, 2009. On
April 2, 2009, the Exchange publishes a pre-opening indication for XYZ
with a bid price of $14.00 and an offer price of $14.50. The reference
price for XYZ data feed on April 2, 2009 will be $14.50.
    (3) XYZ security closed at a price of $15.00 on April 1, 2009. On
April 2, 2009, the Exchange publishes pre-opening indication for XYZ
with a bid price of $14.99 and an offer price of $15.02. The reference
price for XYZ data feed on April 2, 2009 will be $15.00.
    In the case of pre-closing imbalances, the NYSE Order Imbalance
Information service that is the subject of the Approval Order also uses
the last sale price as the reference price for pre-closing Order
Imbalance Information that it disseminated pursuant to Exchange Rule
123C (``Market on the Close Policy and Expiration Procedures'').
    The Exchange proposes to modify what it uses as the reference price
when the last sale price does not fall within the best bid and the best
offer on the Exchange at the time that the Exchange

calculates a closing imbalance for a security,\7\ as follows:
---------------------------------------------------------------------------

    \7\ Currently NYSE securities operating on the 14.0 Technology
Release employ the proposed method to determine the reference price.
---------------------------------------------------------------------------

     If the last sale price is lower than the Bid price, then
the Bid Price will serve as the Reference Price.
     If the last sale price is higher than the Offer price,
then the Offer Price will serve as the Reference Price.
     If the last sale price falls within the Exchange's best
bid and offer for the security, the last sale price will serve as the
Reference Price.
Examples
    (1) The sale in XYZ security prior to the dissemination of the
order imbalance feed was at a price of $15.00. The quote prior to the
dissemination of the datafeed is 100 shares bid at a price of $15.02
and 500 shares offered at a $15.20. The reference price for the NYSE
Order Imbalance datafeed in XYZ security will be $15.02.
    (2) The sale in XYZ security prior to the dissemination of the
order imbalance feed was at a price of $15.00. The quote prior to the
dissemination of the datafeed is 100 shares bid at a price of $14.91
and 500 shares offered at a $14.99. The reference price for the NYSE
Order Imbalance datafeed in XYZ security will be $14.99.
    (3) The sale in XYZ security prior to the dissemination of the
order imbalance feed was at a price of $15.00. The quote prior to the
dissemination of the datafeed is 100 shares bid at a price of $14.98
and 500 shares offered at a $15.02. The reference price for the NYSE
Order Imbalance datafeed in XYZ security will be $15.00.
    The Exchange believes that the amendments to the reference price
for the publication of the NYSE Order Imbalance Information service
will enhance the value of the product by providing the user with a more
accurate depiction of the market interest available in the security.
    Orders Included in NYSE Pre-Opening Order Imbalance Information
Reports
    The Exchange proposes to add all DMM s-quote interest eligible for
execution in the opening transaction, at no additional charge, to the
order information currently included in the pre-opening NYSE Order
Imbalance Information Reports. DMM s-quote interest is currently
eligible for execution in the opening transaction but is not included
in the Order Imbalance Information Report. The Exchange believes that
the addition of DMM s-quote interest to the Order Imbalance Information
Report will enhance the value of this product by including additional
information about the electronic interest eligible to trade at the
opening.
2. Statutory Basis
    The bases under the Securities Exchange Act of 1934 (the ``1934
Act'') for this proposed rule change are the requirements under Section
6(b)(5) that the rules of an exchange be designed to promote just and
equitable principles of trade, 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
Exchange believes that the proposal benefits investors by modifying
NYSE Order Imbalance Information to provide investors with a more
accurate depiction of the market and additional information on the open
for a security.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.

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

    No written comments were solicited or received with respect to the
proposed rule change.

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

    Because the foregoing proposed rule change: (i) Does not
significantly affect the protection of investors or the public
interest; (ii) does not impose any significant burden on competition;
and (iii) by its terms, does not become operative for 30 days from the
date on which it was filed, or such shorter time as the Commission may
designate, if consistent with the protection of investors and the
public interest, it has become effective pursuant to Section
19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires the self-regulatory organization to submit to the
Commission written notice of its intent to file the proposed rule
change, along with a brief description and text of 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.
---------------------------------------------------------------------------

    The Exchange has requested that the Commission waive the 30-day
operative delay so that the proposal may become operative immediately
upon filing in order to immediately provide market participants with
the most accurate supplemental market information prior to the
execution of the opening and closing transactions on the Exchange. The
Commission believes such waiver is consistent with the protection of
investors and the public interest.\10\ Accordingly, the Commission
designates the proposed rule change operative upon filing with the
Commission.
---------------------------------------------------------------------------

    \10\ For purposes only of waiving the 30-day operative delay of
this proposal, the Commission has 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 may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NYSE-2009-41 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSE-2009-41. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/
sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the

proposed rule change between the Commission and any person, other than
those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Room on official business
days between the hours of 10 a.m. and 3 p.m. Copies of such filing also
will be available for inspection and copying at the principal office of
the Exchange. All comments received will be posted without change; the
Commission does not edit personal identifying information from
submissions. You should submit only information that you wish to make
available publicly. All submissions should refer to File Number SR-
NYSE-2009-41 and should be submitted on or before May 20, 2009.
---------------------------------------------------------------------------

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

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-9820 Filed 4-28-09; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 83, Number 15 (Tuesday, January 23, 2018)]
[Notices]
[Pages 3163-3164]
[FR Doc No: 2018-01126]

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

DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2016-D-2343]

Hazard Analysis and Risk-Based Preventive Controls for Food for
Animals; Draft Guidance for Industry; Availability

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice of availability.

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

SUMMARY: The Food and Drug Administration (FDA, we, or Agency) is
announcing the availability of a draft guidance for industry #245
entitled ``Hazard Analysis and Risk-Based Preventive Controls for Food
for Animals.'' This draft guidance document, when finalized, will help
animal food facilities comply with the requirements for hazard analysis
and risk-based preventive controls under our regulation ``Current Good
Manufacturing Practice, Hazard Analysis, and Risk-Based Preventive
Controls for Food for Animals.''

DATES: Submit either electronic or written comments on the draft
guidance by July 23, 2018 to ensure that the Agency considers your
comment on this draft guidance before it begins work on the final
version of the guidance.

ADDRESSES: You may submit comments on any guidance at any time as
follows:

Electronic Submissions

    Submit electronic comments in the following way:
     Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. Comments submitted
electronically, including attachments, to https://www.regulations.gov
will be posted to the docket unchanged. Because your comment will be
made public, you are solely responsible for ensuring that your comment
does not include any confidential information that you or a third party
may not wish to be posted, such as medical information, your or anyone
else's Social Security number, or confidential business information,
such as a manufacturing process. Please note that if you include your
name, contact information, or other information that identifies you in
the body of your comments, that information will be posted on https://www.regulations.gov.
     If you want to submit a comment with confidential
information that you do not wish to be made available to the public,
submit the comment as a written/paper submission and in the manner
detailed (see ``Written/Paper Submissions'' and ``Instructions'').

Written/Paper Submissions

    Submit written/paper submissions as follows:
     Mail/Hand delivery/Courier (for written/paper
submissions): Dockets Management Staff (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852.
     For written/paper comments submitted to the Dockets
Management Staff, FDA will post your comment, as well as any
attachments, except for information submitted, marked and identified,
as confidential, if submitted as detailed in ``Instructions.''
    Instructions: All submissions received must include the Docket No.
FDA-2016-D-2343 for ``Hazard Analysis and Risk-Based Preventive
Controls for Food for Animals.'' Received comments will be placed in
the docket and, except for those submitted as ``Confidential
Submissions,'' publicly viewable at https://www.regulations.gov or at
the Dockets Management Staff between 9 a.m. and 4 p.m., Monday through
Friday.
     Confidential Submissions--To submit a comment with
confidential information that you do not wish to be made publicly
available, submit your comments only as a written/paper submission. You
should submit two copies total. One copy will include the information
you claim to be confidential with a heading or cover note that states
``THIS DOCUMENT CONTAINS CONFIDENTIAL INFORMATION.'' The Agency will
review this copy, including the claimed confidential information, in
its consideration of comments. The second copy, which will have the
claimed confidential information redacted/blacked out, will be
available for public viewing and posted on https://www.regulations.gov.
Submit both copies to the Dockets Management Staff. If you do not wish
your name and contact information to be made publicly available, you
can provide this information on the cover sheet and not in the body of
your comments and you must identify this information as
``confidential.'' Any information marked as ``confidential'' will not
be disclosed except in accordance with 21 CFR 10.20 and other
applicable disclosure law. For more information about FDA's posting of
comments to public dockets, see 80 FR 56469, September 18, 2015, or
access the information at: https://www.gpo.gov/fdsys/pkg/FR-2015-09-18/pdf/2015-23389.pdf.
    Docket: For access to the docket to read background documents or
the electronic and written/paper comments received, go to https://www.regulations.gov and insert the docket number, found in brackets in
the heading of this document, into the ``Search'' box and follow the
prompts and/or go to the Dockets Management Staff, 5630 Fishers Lane,
Rm. 1061, Rockville, MD 20852.
    You may submit comments on any guidance at any time (see 21 CFR
10.115(g)(5)).
    Submit written requests for single copies of the guidance to the
Policy and Regulations Staff (HFV-6), Center for Veterinary Medicine,
Food and Drug Administration, 7500 Standish Pl., Rockville, MD 20855.
Send one self-addressed adhesive label to assist that office in
processing your requests. See the SUPPLEMENTARY INFORMATION section for
electronic access to the draft guidance document.

FOR FURTHER INFORMATION CONTACT: Jenny Murphy, Center for Veterinary
Medicine (HFV-200), Food and Drug Administration, 7519 Standish Pl.,
Rockville, MD 20855,<PHONE_NUMBER>, [email protected].

SUPPLEMENTARY INFORMATION:

I. Background

    The FDA Food Safety Modernization Act (FSMA) (Pub. L. 111-353)
enables FDA to better protect public (human and animal) health by
helping to ensure the safety and security of the food supply. FSMA
enables FDA to focus more on preventing animal food safety problems
rather than relying primarily on reacting to problems after they occur.
    Section 103 of FSMA amended the Federal Food, Drug, and Cosmetic
Act (FD&C Act), by adding section 418 (21 U.S.C. 350g) with
requirements for hazard analysis and risk-based preventive controls for
establishments that are required to register as food facilities under
our regulations in 21 CFR part 1, subpart H, in accordance with section
415 of the FD&C Act (21 U.S.C. 350d). We have established regulations
to implement the hazard analysis and risk-based preventive controls
requirements within part 507 (21 CFR part 507).
    We are announcing the availability of a draft guidance for industry
#245 entitled ``Hazard Analysis and Risk-Based Preventive Controls for
Food for Animals.'' This multi-chapter draft guidance for industry is
intended to

explain how to comply with the requirements for hazard analysis and
risk-based preventive controls for food for animals under part 507. The
chapters we are announcing in this document are as follows:

     Introduction
     Chapter One--The Food Safety Plan
     Chapter Two--Conducting a Hazard Analysis
     Chapter Three--Hazards Associated with the Manufacturing,
Processing, Packing, and Holding of Animal Food
     Chapter Four--Preventive Controls
     Chapter Five--Overview of Preventive Control Management
Components

    We intend to announce the availability for public comment of
additional chapters of the draft guidance as we complete them.

II. Significance of Guidance

    This level 1 draft guidance is being issued consistent with FDA's
good guidance practices regulation (21 CFR 10.115). The draft guidance,
when finalized, will represent the current thinking of FDA on how to
comply with the hazard analysis and risk-based preventive controls
requirements for the regulation ``Current Good Manufacturing Practice,
Hazard Analysis, and Risk-Based Preventive Controls for Food for
Animals.'' It does not establish any rights for any person and is not
binding on FDA or the public. You can use an alternative approach if it
satisfies the requirements of the applicable statutes and regulations.
This guidance is not subject to Executive Order 12866.

III. Paperwork Reduction Act of 1995

    This draft guidance refers to previously approved collections of
information found in FDA regulations. These collections of information
are subject to review by the Office of Management and Budget (OMB)
under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520). The
collections of information in part 507 have been approved under OMB
control number 0910-0789.

IV. Electronic Access

    Persons with access to the internet may obtain the draft guidance
at either https://www.fda.gov/AnimalVeterinary/GuidanceComplianceEnforcement/GuidanceforIndustry/default.htm or
https://www.regulations.gov. Use the FDA website listed in the previous
sentence to find the most current version of the guidance.

    Dated: January 17, 2018.
Leslie Kux,
Associate Commissioner for Policy.
[FR Doc. 2018-01126 Filed 1-22-18; 8:45 am]
 BILLING CODE 4164-01-P


[Federal Register: August 5, 2010 (Volume 75, Number 150)]
[Notices]
[Page 47308-47309]
[DOCID:fr05au10-80]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2010-N-0001]

Tobacco Products Scientific Advisory Committee; Notice of Meeting

AGENCY:  Food and Drug Administration, HHS.

ACTION:  Notice.

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

    This notice announces a forthcoming meeting of a public advisory
committee of the Food and Drug Administration (FDA). The meeting will
be open to the public.
    Name of Committee: Tobacco Products Scientific Advisory Committee
    General Function of the Committee: To provide advice and
recommendations to the agency on FDA's regulatory issues.
    Date and Time: The meeting will be held on August 30, 2010, from
8:30 a.m. to 12 noon.
    Location: Gaithersburg Marriott Washingtonian Center, 9751
Washingtonian Blvd., Gaithersburg, MD. The hotel telephone number is
301-590-0044.
    Contact Person: Cristi Stark, Center for Tobacco Products, Food and
Drug Administration, 9200 Corporate Blvd., Rockville, MD 20850, 1-877-
287-1373 (choose option 4), e-mail<EMAIL_ADDRESS>or FDA Advisory
Committee Information Line, 1-800-741-8138<PHONE_NUMBER> in the
Washington, DC area), code<PHONE_NUMBER>. Please call the Information Line
for up-to-date information on this meeting. A notice in the Federal
Register about last minute modifications that impact a previously
announced advisory committee meeting cannot always be published quickly
enough to provide timely notice. Therefore, you should always check the
agency's Web site and call the appropriate advisory committee hot line/
phone line to learn about possible modifications before coming to the
meeting.
    Agenda: On August 30, 2010, the committee will receive a report
from the Tobacco Product Constituents Subcommittee and discuss a
proposed initial list of harmful or potentially harmful constituents,
the rationale for inclusion of each constituent, established analytical
methods as well as the ancillary methods and normalization standards
for the identified constituents.
    FDA intends to make background material available to the public no
later than 2 business days before the meeting. If FDA is unable to post
the background material on its Web site prior to the meeting, the
background material will be made publicly available at the location of
the advisory committee meeting, and the background material will be
posted on FDA's Web site after the meeting. Background material is
available at http://www.fda.gov/AdvisoryCommittees/Calendar/
default.htm. Scroll down to the appropriate advisory committee link.
    Procedure: Interested persons may present data, information, or
views, orally or in writing, on issues pending before the committee.
Written submissions may be made to the contact person on or before
August 23, 2010. Oral presentations from the public will be scheduled
between approximately 10 a.m. and 11 a.m. Those desiring to make formal
oral presentations should notify the contact person and submit a brief
statement of the general nature of the evidence or arguments they wish
to present, the names and addresses of proposed participants, and an
indication of the approximate time requested to make their presentation
on or before August 13, 2010. Time allotted for each presentation may
be limited. If the number of registrants requesting to speak is greater
than can be reasonably accommodated during the scheduled open public
hearing session, FDA may conduct a lottery to determine the speakers
for the scheduled open public hearing session. The contact person will
notify interested persons regarding their request to speak by August
16, 2010.
    Persons attending FDA's advisory committee meetings are advised
that the agency is not responsible for providing access to electrical
outlets.
    FDA welcomes the attendance of the public at its advisory committee
meetings and will make every effort to accommodate persons with
physical disabilities or special needs. If you require special
accommodations due to a disability, please contact Cristi Stark at
least 7 days in advance of the meeting.
    FDA is committed to the orderly conduct of its advisory committee
meetings. Please visit our Web site at http://www.fda.gov/
AdvisoryCommittees/AboutAdvisoryCommittees/ucm111462.htm for procedures
on public conduct during advisory committee meetings.
    Notice of this meeting is given under the Federal Advisory
Committee Act (5 U.S.C. app. 2).

    Dated: August 2, 2010.
Jill Hartzler Warner,
Acting Associate Commissioner for Special Medical Programs.
[FR Doc. 2010-19283 Filed 8-4-10; 8:45 am]
BILLING CODE 4160-01-S


[Federal Register Volume 78, Number 55 (Thursday, March 21, 2013)]
[Notices]
[Pages 17464-17466]
[FR Doc No: 2013-06479]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69151; File No. SR-NASDAQ-2013-033]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change to
Extend the Pre-Market Hours of the Exchange to 4:00 a.m. EST

March 15, 2013.
    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 March 5, 2013, The NASDAQ Stock Market LLC (``NASDAQ'' or
``Exchange''), filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

    NASDAQ proposes to extend the pre-market hours of the Exchange to
4:00 a.m. EST, from the current opening time of 7:00 a.m. EST.

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
    Background. NASDAQ's equities trading day is divided into three
sessions: (1) The pre-market session which runs from 7:00 a.m. to
9:29:59 a.m.; (2) the regular session which runs from 9:30 a.m. to 4:00
p.m.; and (3) the post-market session which runs from 4:00:00:01 p.m.
to 8:00 p.m. The vast majority of trading occurs during the regular
session; over 91 percent of average daily trading volume in NASDAQ-
listed equities is executed during the regular session. Nonetheless,
the pre-market and post-market sessions provide critical price
formation and trading opportunities for a small group of equities
market participants. For those equities and market participants, the
presence of a transparent, liquid, and efficient market during the pre-
market or post-market session is vital to public investors, and to the
firms themselves.
    The NYSE Arca Exchange is currently the only U.S. equities exchange
that operates a pre-market trading session for equities beginning at
4:00 a.m. Increasingly, the trading period between 4:00 a.m. and 7:00
a.m. provides a significant opportunity for certain investors and
traders. A meaningful percentage of total daily trading volume in
NASDAQ-listed securities is reported as executed before 7:00 a.m.,
especially for individual stocks that experience material news or other
trading events overnight. Additionally, NASDAQ understands from its
members that an increasing number of limit orders are entered into the
NYSE Arca system before 7:00 a.m. and execute after 7:00 a.m. While it
is difficult to quantify the total number of orders and shares in this
category based on available trade reporting limitations, NASDAQ
believes

that significant liquidity comes to rest prior to 7:00 a.m.
    Accordingly, NASDAQ believes that opening its system at 4:00 a.m.
will benefit investors, the national market system, NASDAQ members and
the NASDAQ market. Opening at 4:00 a.m. will benefit investors and the
national market system by increasing competition for order flow and
executions, and thereby spurring product enhancements and lowering
prices. Opening at 4:00 a.m. will benefit NASDAQ members and the NASDAQ
market by increasing trading opportunities between 4:00 a.m. and 7:00
a.m. without increasing ancillary trading costs (telecommunications,
data, connectivity, etc.) and, thereby, decreasing average trading
costs per share. Opening NASDAQ at 4:00 a.m. will also benefit NASDAQ
members that choose not to participate in the early hours but
nonetheless gain the opportunity to interact with liquidity entered by
other members during the early session.
    Operations. From the members' operational perspective, NASDAQ's
goal is to permit trading for those that choose to trade, without
imposing burdens on those that do not. Thus, for example, NASDAQ will
not require any NASDAQ member to participate in the extended session,
including not requiring registered market makers to make two-sided
markets between 4:00 a.m. and 7:00 a.m. NASDAQ will minimize members'
preparation efforts to the greatest extent possible by allowing members
to trade beginning at 4:00 a.m. with the same equipment, connectivity,
order types, and data feeds they currently use from 7:00 a.m. onwards.
    Opening Process. NASDAQ will offer no opening cross at 4:00 a.m.,
just as it offers no Opening Cross at 7:00 a.m. today. Instead, at 4:00
a.m., the NASDAQ system will ``wake up'' by loading in price/time
priority all open trading interest carried over from the previous
trading day. Also at 4:00 a.m., NASDAQ will open the execution system
and accept new eligible orders, just as it currently does at 7:00 a.m.
Members will be permitted to enter orders beginning at 4:00 a.m. Market
makers will be permitted but not required to open their quotes
beginning at 4:00 a.m. in the same manner they open their quotes today
beginning at 7:00 a.m.
    Order Types. Every NASDAQ order type that is currently available
beginning at 7:00 a.m. will be available beginning at 4:00 a.m. All
other order types, and all order type behaviors, will otherwise remain
unchanged. NASDAQ will not extend the expiration times of any orders.
For example, an order that is currently available from 7:00 a.m. to
4:00 p.m. will be modified to be available from 4:00 a.m. to 4:00 p.m.
An order that is available from 7:00 a.m. to 9:30 a.m. will be modified
to be available from 4:00 a.m. to 9:30 a.m. In the future, display and
non-display characteristics will operate beginning at 4:00 a.m., as
they do today beginning at 7:00 a.m.
    Routing Services. NASDAQ will route orders to away markets between
4:00 a.m. and 7:00 a.m., just as it does today between 7:00 a.m. and
9:30 a.m. All routing strategies set forth in NASDAQ Rule 4758 will
remain otherwise unchanged, performing the same instructions they
perform between 4:00 a.m. and 7:00 a.m. today.
    Order Processing. Order processing under NASDAQ Rule 4757 will
operate beginning at 4:00 a.m. just as it does today beginning at 7:00
a.m. There will be no changes to the ranking, display, execution
algorithms, or decrementation processes or rules.
    Data Feeds. NASDAQ will report the best bid and offer on the
Exchange to the appropriate network processor, as it currently does
beginning 7:00 a.m. NASDAQ proprietary data feeds will be disseminated
beginning at 4:00 a.m. using the same formats and delivery mechanisms
with which NASDAQ currently disseminates them beginning at 7:00 a.m.
    Trade Reporting. Trades executed between 4:00 a.m. and 7:00 a.m.
will be reported to the appropriate network processor with the ``.T''
modifier, just as they are reported today beginning at 7:00 a.m.
    Adjustment of Open Orders. NASDAQ will adjust open orders for the
4:00 a.m. opening pursuant to the requirements of NASDAQ Rule 4761 just
as it does today for the 7:00 a.m. opening.
    Fees. NASDAQ is changing no fees in connection with this proposal.
    Market Surveillance. NASDAQ's commitment to high quality regulation
at all times will extend to 4:00 a.m. NASDAQ will offer all
surveillance coverage currently performed by NASDAQ MarketWatch
beginning at 3:45 a.m. In other words, surveillance coverage will begin
15 minutes pre-open, just as it does today.
    Personnel. Quality surveillance begins with quality personnel.
Highly trained primary and back-up regulatory personnel will be in
place at 3:45 a.m. and the NASDAQ Call Center will open at 4:00 a.m.
    Systems. All MarketWatch surveillance systems will launch by the
time trading starts. At 4:00 a.m. NASDAQ personnel will begin
conducting alert reviews, clearly erroneous trade processing, and
member firm contacts just as they do today beginning at 7:00 a.m.
    Trading Halts. Currently MarketWatch institutes trading halts from
7 a.m. to 8 p.m. NASDAQ plans to institute a subset of trading halts
between 4:00 a.m. and 7:00 a.m. First, NASDAQ will halt trading at the
request of an issuer, which NASDAQ believes is also the practice of the
NYSE across its affiliated exchanges for its listed companies. Second,
NASDAQ will halt trading in conjunction with a trading halt imposed by
a foreign listing market. As described below, NASDAQ does not plan to
review issuer disclosures during the 4:00 a.m. to 7:00 a.m. period,
obviating the need for material news halts.
    Clearly Erroneous Trade Processing. NASDAQ will process trade
breaks beginning at 4:00 a.m. pursuant to NASDAQ Rules 4762 and 11890
just as it does today beginning at 7:00 a.m.
    Issuer Disclosure Requirements. To avoid burdening issuers, NASDAQ
will not extend the current issuer disclosure requirements set forth in
NASDAQ Rule 5250 and NASDAQ IM-5250, which require overnight material
disclosures to be forwarded to MarketWatch by 6:50 a.m. This will allow
issuers to continue the practice of disclosing material news between
4:00 a.m. and 7:00 a.m. to avoid triggering a halt by NASDAQ or another
listing market. Issuers prefer to avoid triggering material news halts
because the halt process involves interaction between NASDAQ and
designated officials at the issuer. Our proposed policy would obviate
the need for these officials to be available at unexpected hours. This
also limits the need for trade halt coordination between NASDAQ and the
NYSE Arca Exchange between 4:00 a.m. and 7:00 a.m.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\3\ in general, and with
Section 6(b)(5) of the Act,\4\ in particular, in that it is designed to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in regulating, clearing,
settling, processing information with respect to, and facilitating
transaction 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 proposed rule change promotes this goal by
offering additional trading opportunities to NASDAQ members that desire
them, without imposing burdens on NASDAQ members that do not. The
proposal will facilitate a well-regulated, orderly, and efficient
market during a period of time that is currently underserved.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78f.
    \4\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    NASDAQ notes that the proposed trading period has been available
for years on the NYSE Arca Exchange. NASDAQ believes that the
availability of trading between 4:00 a.m. and 7:00 a.m. has been
beneficial to market participants including investors and issuers on
other markets. The Exchange believes that offering a competing trading
session will further benefit investors by promoting competition and
order interaction, while imposing no added costs on investors or other
market participants that choose not avail themselves of these benefits.

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

    NASDAQ 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. To the contrary,
NASDAQ believes that offering a competing early trading session is pro-
competitive in that it will increase competition for order flow, for
execution services and for listings. The fact that the early trading
session is itself an identical response to the competition provided by
another market is proof of its pro-competitive nature. NASDAQ fully
expects that other listing venues will respond by further extending
their trading sessions as well.

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 Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \5\ and Rule 19b-4(f)(6) thereunder.\6\
Because the 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 prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act \7\ and Rule 19b-
4(f)(6)(iii) thereunder.\8\
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \6\ 17 CFR 240.19b-4(f)(6).
    \7\ 15 U.S.C. 78s(b)(3)(A).
    \8\ 17 CFR 240.19b-4(f)(6)(iii). 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.
---------------------------------------------------------------------------

    The Exchange has asked the Commission to waive the 30-day operative
delay.\9\ The Commission believes that waiving the 30-day operative
delay is consistent with the protection of investors and the public
interest. The proposed rule change does not appear to raise any novel
regulatory issues for the Commission to consider.\10\ In addition,
according to NASDAQ, the introduction of competition during the hours
of 4:00 a.m. and 7:00 a.m. will benefit investors by offering
alternative execution venues and spurring improvements in pricing and
functionality. Accordingly, the Commission designates the proposal
operative upon filing.\11\
---------------------------------------------------------------------------

    \9\ 17 CFR 240.19b-4(f)(6)(iii).
    \10\ See Securities and Exchange Act Release No. 51014 (January
10, 2005), 70 FR 2918 (January 18, 2005) (SR-PCX-2004-83).
    \11\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule change's impact on
efficiency, competition, and capital formation. 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 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.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
    Electronic Comments
     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NASDAQ-2013-033 on the subject line.
    Paper Comments
     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NASDAQ-2013-033. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NASDAQ-2013-033 and should
be submitted on or before April 11, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

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

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-06479 Filed 3-20-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 87, Number 207 (Thursday, October 27, 2022)]
[Notices]
[Pages 65049-65050]
[FR Doc No: 2022-23413]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. IC23-2-000]

Commission Information Collection Activities (FERC-923); Comment
Request; Extension

AGENCY: Federal Energy Regulatory Commission, DOE.

ACTION: Notice of information collection and request for comments.

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

SUMMARY: In compliance with the requirements of the Paperwork Reduction
Act of 1995, the Federal Energy Regulatory Commission (Commission or
FERC) is soliciting public comment on the requirements and burden of
the information collection FERC-923 (Communication of Operational
Information between Natural Gas Pipelines and Electric Transmission
Operators), described below.

DATES: Comments on the collection of information are due December 27,
2022.

ADDRESSES: You may submit your comments (identified by Docket No. IC23-
2-000) by one of the following methods:
    Electronic filing through https://www.ferc.gov, is preferred.
     Electronic Filing: Documents must be filed in acceptable
native applications and print-to-PDF, but not in scanned or picture
format.
     For those unable to file electronically, comments may be
filed by USPS mail or by hand (including courier) delivery:
    [cir] Mail via U.S. Postal Service Only: Addressed to: Federal
Energy Regulatory Commission, Secretary of the Commission, 888 First
Street NE, Washington, DC 20426.

    [cir] Hand (including courier) Delivery: Addressed to: Federal
Energy Regulatory Commission, Secretary of the Commission, 12225
Wilkins Avenue, Rockville, MD 20852.
    Instructions: All submissions must be formatted and filed in
accordance with submission guidelines at: https://www.ferc.gov. For
user assistance, contact FERC Online Support by email at
[email protected], or by phone at<PHONE_NUMBER> (toll-free).
    Docket: Users interested in receiving automatic notification of
activity in this docket or in viewing/downloading comments and
issuances in this docket may do so at https://www.ferc.gov.

FOR FURTHER INFORMATION CONTACT: Ellen Brown may be reached by email
at: [email protected], telephone at<PHONE_NUMBER>, and fax at:
(202) 273-0873.

SUPPLEMENTARY INFORMATION:
    Title: FERC-923, Communication of Operational Information between
Natural Gas Pipelines and Electric Transmission Operators.
    OMB Control No.: 1902-0265.
    Type of Request: Three-year extension of the information collection
requirements described below with no changes to the current reporting
requirements.
    Abstract: In 2013, the Commission revised its regulations to
provide explicit authority to interstate natural gas pipelines and
public utilities that own, operate, or control facilities used for the
transmission of electric energy in interstate commerce to voluntarily
share non-public, operational information with each other for the
purpose of promoting reliable service and operational planning on
either the pipeline's or public utility's system. This helped ensure
the reliability of natural gas pipeline and public utility transmission
services by permitting transmission operators to share with each other
the information that they deem necessary to promote the reliability and
integrity of their systems. FERC removed actual or perceived
prohibitions to the information sharing and communications between
industry entities. The information shared is not submitted to FERC.
Rather, the non-public information is shared voluntarily between
industry entities. FERC does not prescribe the content, medium, format,
or frequency for the information sharing and communications. Those
decisions are made by the industry entities, depending on their needs
and the situation.
---------------------------------------------------------------------------

    \1\ Burden is defined as the total time, effort, or financial
resources expended by persons to generate, maintain, retain, or
disclose or provide information to or for a federal agency. See 5
CFR 1320 for additional information on the definition of information
collection burden.
    \2\ Commission staff estimates that the industry's skill set
(wages and benefits) for FERC-923 is comparable to the Commission's
skill set. The FERC 2022 average salary plus benefits for one FERC
full-time equivalent (FTE) is $188,992 year (or $91 per hour
[rounded]).
---------------------------------------------------------------------------

    Type of Respondent: Natural gas pipelines and public utilities.
    Estimate of Annual Burden: \1\ The Commission estimates the annual
public reporting burden and cost \2\ for FERC-923 as:

                  FERC--923--Communication of Operational Information Between Natural Gas Pipelines and Electric Transmission Operators
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                        Annual number                                              Total annual burden
                                          Number of     of responses    Total number     Average burden hrs. &     hrs. & total annual       Cost per
                                         respondents   per respondent   of responses     cost ($) per response           cost ($)         respondent ($)
                                                  (1)             (2)     (1) * (2) =  (4).....................  (3) * (4) = (5)........       (5) / (1)
                                                                                (3)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Public Utility Transmission Operator,         \1\ 155              12           1,860  0.5 hrs.; $45.50........  930 hrs.; $84,630......            $546
 communications.
Interstate Natural Gas Pipelines,             \2\ 191              12           2,292  0.5 hrs.; $45.50........  1,146 hrs.; $104,286...             546
 communications.
                                      ------------------------------------------------------------------------------------------------------------------
    Total............................  ..............  ..............           4,152  ........................  2,076 hrs.; $188,916...  ..............
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ The estimate for the number of respondents is based on the North American Electric Reliability Corporation (NERC) Compliance Registry as of October
  12, 2022, minus the Transmission Operators within ERCOT.
\2\ The estimate is based on the number of respondents to the 2021 FERC Forms 2 and 2A (Major and Non-major Natural Gas Pipeline Annual Reports).

    Comments: Comments are invited on: (1) whether the collection of
information is necessary for the proper performance of the functions of
the Commission, including whether the information will have practical
utility; (2) the accuracy of the agency's estimate of the burden and
cost of the collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility and clarity of the information collection; and (4) ways to
minimize the burden of the collection of information on those who are
to respond, including the use of automated collection techniques or
other forms of information technology.

    Dated: October 21, 2022.
Kimberly D. Bose,
Secretary.
[FR Doc. 2022-23413 Filed 10-26-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 78, Number 124 (Thursday, June 27, 2013)]
[Notices]
[Pages 38747-38748]
[FR Doc No: 2013-15346]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69818; File No. SR-BX-2013-041]

Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend
Rule 4120 To Adopt a Modification in the Process for Initiating Trading
of a Security That Is the Subject of a Trading Halt or Pause on BX

 June 21, 2013.
    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 June 14, 2013, NASDAQ OMX BX, Inc. (``BX'' or the ``Exchange'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I, II, and III below, which
Items have been prepared by the Exchange. The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to amend Rule 4120 to adopt a modification in
the process for initiating trading of a security that is the subject of
a trading halt or pause on BX. The text of the proposed rule change is
also available on the Exchange's Web site at http://nasdaqomxbx.cchwallstreet.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 aspects of such
statements.

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

1. Purpose
    In 2012, The NASDAQ Stock Market LLC (``NASDAQ'') modified its
process for commencing trading of a security that is the subject of an
initial public offering on NASDAQ by allowing market participants to
enter orders to be held in an undisplayed state until the commencement
of the Display-Only Period that occurs prior to the IPO.\3\ NASDAQ
recently proposed a similar change with regard to entering orders prior
to the end of other trading halts or pauses on NASDAQ.\4\ BX is
proposing to make a similar change with regard to entering orders prior
to the end of trading halts or pauses on BX. Rule 4120(a) describes the
circumstances under which BX has the authority to initiate a trading
halt. As detailed in Rule 4120(a), the specific bases for a halt
include the following:
---------------------------------------------------------------------------

    \3\ Securities Exchange Act Release No. 66652 (March 23, 2012),
77 FR 13129 (March 29, 2012) (SR-NASDAQ-2012-038).
    \4\ Securities Exchange Act Release No. 69536 (May 13, 2013), 78
FR 29187 (May 17, 2013) (SR-NASDAQ-2013-073).
---------------------------------------------------------------------------

     A halt when a security listed on another national
securities exchange is halted to permit dissemination of news (Rule
4120(a)(2)) or due to an order imbalance or influx (Rule 4120(a)(3));
     A halt with respect to an index warrant when deemed
appropriate in the interests of a fair and orderly market and to
protect investors (Rule 4120(a)(8));
     A halt in a Derivative Securities Product (as defined in
Rule 4120(b)(4)(A)) for which a net asset value (``NAV'') or a
Disclosed Portfolio is disseminated if the Exchange becomes aware that
the NAV or Disclosed Portfolio is not being disseminated to all market
participants at the same time (Rule 4120(a)(10));
     A trading pause with respect to stocks that are not
subject to the Limit Up-Limit Down Plan \5\ and for which the primary
listing market has issued an individual stock trading pause (Rule
4120(a)(11)); and
---------------------------------------------------------------------------

    \5\ Plan to Address Extraordinary Market Volatility Submitted to
the Commission Pursuant to Rule 608 of Regulation NMS under the Act,
Securities Exchange Act Release No. 67091 (May 31, 2012), 77 FR
33498 (June 6, 2012).
---------------------------------------------------------------------------

     A trading halt in a Derivative Security Product traded
pursuant to unlisted trading privileges for which a ``Required Value,''
such as an intraday indicative value or disclosed portfolio, is not
being disseminated, under the conditions described in Rule 4120(b).\6\
---------------------------------------------------------------------------

    \6\ Rule 4120 includes additional bases for halting securities
listed on the Exchange; however, the Exchange's rules governing
listing are not operative at this time. The additional bases
include: a halt to permit the dissemination of material news with
respect to a security listed on the Exchange (Rule 4120(a)(1)); a
halt in an American Depository Receipt (``ADR'') or other security
listed on the Exchange, when the security listed on the Exchange or
the security underlying the ADR is listed on or registered with
another national or foreign securities exchange or market, and the
regulatory authority overseeing such exchange or market halts
trading in such security for regulatory reasons (Rule 4120(a)(4)); a
halt when the Exchange requests from the issuer information relating
to material news or the issuer's ability to meet Exchange listing
qualification requirements, or any other information necessary to
protect investors and the public interest (Rule 4120(a)(5)); a halt
in a security listed on the Exchange when extraordinary market
activity in the security is occurring, the Exchange determines that
the activity is likely to have a material effect on the market for
the security, and the Exchange believes that the activity is caused
by the misuse or malfunction of an electronic quotation,
communication, reporting, or execution system (Rule 4120(a)(6)); a
halt in a series of Portfolio Depository Receipts, Index Fund Shares
or Managed Fund Shares listed on the Exchange if the Intraday
Indicative Value or the index value applicable to that series is not
being disseminated as required (Rule 4120(a)(9)); and a halt trading
in a security listed on the Exchange if the security fails to comply
with Rule 5550(d) (requiring a minimum bid price of at least $0.25
per share).
---------------------------------------------------------------------------

    Under the current process, quotes and orders in a halted security
may not be entered until the resumption of trading. However, BX
believes that the quality of its process for commencing trading in the
halted security would be enhanced by allowing market participants to
enter orders to be held but not displayed until the resumption of
trading.\7\ Specifically, BX believes that this change will provide for
a greater number of orders being entered prior to commencement of
trading, resulting in a higher level of order interaction at the
resumption of trading.
---------------------------------------------------------------------------

    \7\ Because the orders would be held in an undisplayed state,
the change would not implicate BX Rule 3340 or FINRA Rule 5260,
which prohibit transactions, publication of quotations, or
publication of indications of interest during a trading halt.
---------------------------------------------------------------------------

    Orders entered in this manner will be held in a suspended state
until the resumption of trading, at which time they will be entered
into the system. Market participants may cancel orders entered in this
manner in the same way they would cancel any other order. Orders
entered prior to the resumption of trading will be rejected unless they
are designated for holding. Specifically, the orders will be entered
into the continuous market once trading resumes.\8\
---------------------------------------------------------------------------

    \8\ Orders entered and held during the halt period will be
entered into the continuous market in the order in which they were
received. However, such orders will be entered contemporaneously
with any orders received through order entry ports after the halt is
terminated. Thus, the relative priority of orders received during
the halt and orders received through order entry ports after the
halt is terminated will be a function of the duration of system
processing associated with each particular order. As a result,
orders received during the halt will not automatically have priority
over orders received at the conclusion of the halt.

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

2. Statutory Basis
    BX believes that the proposed rule change is consistent with the
provisions of Section 6 of the Act,\9\ in general, and with Section
6(b)(5) of the Act,\10\ in particular, in that the proposal is designed
to prevent fraudulent and manipulative acts and practices, to promote
just and equitable principles of trade, to foster cooperation and
coordination with persons engaged in regulating, clearing, settling,
processing information with respect to, and facilitating transactions
in securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system, and, in general, to
protect investors and the public interest. Specifically, BX believes
that the change to allow entry of quotes and orders for holding during
a trading halt will provide for a greater number of orders being
entered prior to commencement of trading, resulting in a higher level
of order interaction in the re-opening process. Thus, BX believes that
the change will remove impediments to and perfect the mechanism of a
free and open market.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f.
    \10\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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

    BX 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. Specifically, BX
believes that this change will provide for a greater number of orders
being entered prior to commencement of trading, resulting in a higher
level of order interaction. BX believes that this change will promote
competition by enhancing the attractiveness of BX as a trading venue
through higher order fill rates and more complete price discovery.
Moreover, because the change will not affect the availability or price
of goods or services offered by BX or others, it will not impose any
burden on competition.

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

    No written comments were either solicited or received.

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

    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) of the Act \11\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\12\
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is: (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.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-BX-2013-041 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-BX-2013-041. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make publicly available. All
submissions should refer to File Number SR-BX-2013-041 and should be
submitted on or before July 18, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority. \13\
Jill M. Peterson,
Assistant Secretary.
---------------------------------------------------------------------------

    \13\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2013-15346 Filed 6-26-13; 8:45 am]
BILLING CODE 8011-01-P