[Federal Register: May 22, 2007 (Volume 72, Number 98)]
[Notices]
[Page 28736-28739]
[DOCID:fr22my07-119]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55760; File No. SR-NASDAQ-2007-046]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Order Granting Accelerated Approval of Proposed
Rule Change to Trade Three iPath Exchange-Traded Notes Pursuant to
Unlisted Trading Privileges

May 15, 2007.
    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 May 1, 2007, 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 substantially prepared by the Exchange.
This order provides notice of the

proposed rule change and approves the proposal on an accelerated basis.
---------------------------------------------------------------------------

    \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 trade, pursuant to unlisted trading privileges
(``UTP''), index-linked securities (``Securities'') of Barclays Bank
PLC (``Barclays'') linked to the performance of certain commodities
indexes. The specific Securities to be traded are the iPath Exchange-
Traded Notes (``GSCI Securities'') Linked to the Performance of the
GSCI Total Return Index (``GSCI Index''); the iPath Exchange-Traded
Notes (``AIG Securities'') Linked to the Performance of the Dow Jones--
AIG Commodity Index Total Return (``AIG Index''); and the iPath
Exchange Traded Notes (``Oil Securities'') Linked to the Performance of
the Goldman Sachs Crude Oil Total Return Index (``Oil Index'') (the
GSCI Index, the AIG Index, and the Oil Index collectively,
``Indexes''). The text of the proposed rule change is available at
Nasdaq, the Commission's Public Reference Room, and http://nasdaq.complinet.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 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 III 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
    Pursuant to Rule 4630, Nasdaq proposes to trade the Securities
pursuant to UTP. The Securities are currently trading on Nasdaq on a
three-month pilot basis.\3\ Approval of this filing would allow the
Securities to continue to trade after the expiration of the pilot.
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 55386 (March 2,
2007), 72 FR 10801 (March 9, 2007) (SR-NASDAQ-2007-016).
---------------------------------------------------------------------------

    The Securities are medium-term debt securities of Barclays that
provide for a cash payment at maturity or upon earlier exchange at the
holder's option, based on the performance of the applicable Index. The
AIG Index is designed to be a diversified benchmark for commodities as
an asset class; the AIG Index is currently composed of the prices of 19
exchange-traded futures contracts on physical commodities, namely
aluminum, coffee, copper, corn, cotton, crude oil, gold, heating oil,
hogs, live cattle, natural gas, nickel, silver, soybeans, soybean oil,
sugar, unleaded gasoline, wheat, and zinc. The GSCI Index is also
designed as a diversified benchmark for physical commodities as an
asset class; the composition of the GSCI is modified on a monthly basis
by Goldman, Sachs & Co., its sponsor. The Oil Index is a sub-index of
the GSCI Index that reflects a portion of the crude oil component of
the GSCI Index (currently the WTI Crude Oil future contract traded on
the New York Mercantile Exchange (``NYMEX'')). The Commission
previously approved the original listing and trading of the Securities
by the New York Stock Exchange LLC (``NYSE'').\4\
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release Nos. 53849 (May 22,
2006), 71 FR 30706 (May 30, 2006) (SR-NYSE-2006-20); 53876 (May 25,
2006), 71 FR 32158 (June 2, 2006) (SR-NYSE-2006-16); and 54177 (July
19, 2006), 71 FR 42700 (July 27, 2006) (SR-NYSE-2006-19) (``NYSE
Orders'').
---------------------------------------------------------------------------

    Nasdaq deems the Securities to be equity securities, thus rendering
trading in the Securities subject to its existing rules governing the
trading of equity securities, including Nasdaq Rule 4630, which governs
the trading of Commodity-Related Securities such as the Securities. The
primary trading hours for the Securities on Nasdaq will be 7 a.m. to 8
p.m. Eastern Time (``ET'').
    Quotations for and last-sale information regarding the Securities
are disseminated through the Consolidated Quotation System. An
``Intraday Indicative Value'' (``IIV'') meant to approximate the
intrinsic economic value of the Securities is calculated and published
via the facilities of the Consolidated Tape Association every 15
seconds from 9:30 a.m. to 4 p.m. ET on each day on which the Securities
are traded on NYSE. Additionally, Barclays or an affiliate calculates
and publishes the closing IIV of the Securities on each trading day at
http://www.ipathetn.com. The providers of the Indexes disseminate

updated Index values approximately every 15 seconds during applicable
portions of the trading day and publish a daily Index value between 4
p.m. and 6 p.m. ET, in each case through Reuters.
    Nasdaq would halt trading in the Securities under the conditions
specified in Nasdaq Rules 4120 and 4121. The conditions for a halt
include a regulatory halt by the listing market. UTP trading in the
Securities will also be governed by provisions of Nasdaq Rule 4120
relating to temporary interruptions in the calculation or wide
dissemination of the IIV or Indexes. Additionally, Nasdaq may cease
trading the Securities if other unusual conditions or circumstances
exist which, in the opinion of Nasdaq, make further dealings on Nasdaq
detrimental to the maintenance of a fair and orderly market. Nasdaq
will also follow any procedures with respect to trading halts as set
forth in Nasdaq Rule 4120(c). Finally, Nasdaq would stop trading the
Securities if the listing market delists them.
    Nasdaq believes that its surveillance procedures are adequate to
address any concerns about the trading of the Securities on Nasdaq.
Trading of the Securities through Nasdaq systems is currently subject
to NASD's surveillance procedures for equity securities in general and
index-linked securities in particular.\5\
---------------------------------------------------------------------------

    \5\ NASD surveils trading pursuant to a regulatory services
agreement. Nasdaq is responsible for NASD's performance under this
regulatory services agreement.
---------------------------------------------------------------------------

    Nasdaq is able to obtain information regarding trading in the
Securities and the underlying Index components through its members in
connection with the proprietary or customer trades that such members
effect on any relevant market. In addition, Nasdaq may obtain trading
information via the Intermarket Surveillance Group (``ISG'') from other
exchanges who are members or affiliates of the ISG. Finally, Nasdaq is
party to Information Sharing Agreements with NYMEX, ICE Futures, the
London Metal Exchange, and the Kansas Board of Trade relating to the
trading of commodity-based instruments on those markets. In connection
with trading the Securities on a pilot basis, Nasdaq has informed its
members in an Information Circular of the special characteristics and
risks associated with trading the Securities.
2. Statutory Basis
    Nasdaq believes that the proposal is consistent with Section 6(b)
of the Act,\6\ in general, and Section 6(b)(5) of the Act,\7\ in
particular, in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, remove impediments to a free and open market and a
national market system, and, in general, to protect investors and the
public interest. In addition, Nasdaq believes that the proposal is
consistent

with Rule 12f-5 under the Act \8\ because it deems the Securities to be
equity securities, thus rendering trading in the Securities subject to
Nasdaq's existing rules governing the trading of equity securities.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(5).
    \6\ 17 CFR 240.12f-5.
---------------------------------------------------------------------------

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

    Nasdaq 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

    Written comments on the proposed rule change were neither solicited
nor received.

III. 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-NASDAQ-2007-046 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NASDAQ-2007-046. 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. 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-2007-046 and should be submitted on or before
June 12, 2007.

IV. Commission's Findings and Order Granting Accelerated Approval of
the Proposed Rule Change

    The Commission finds that the proposed rule change is consistent
with the requirements of the Act and the rules and regulations
thereunder applicable to a national securities exchange.\9\ In
particular, the Commission finds that the proposed rule change is
consistent with Section 6(b)(5) of the Act,\10\ which requires that an
exchange have rules designed, among other things, 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 Commission
believes that this proposal should benefit investors by increasing
competition among markets that trade the Securities.
---------------------------------------------------------------------------

    \9\ In approving this rule change, the Commission notes that it
has considered the proposal's impact on efficiency, competition, and
capital formation. See 15 U.S.C. 78c(f).
    \10\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In addition, the Commission finds that the proposal is consistent
with Section 12(f) of the Act,\11\ which permits an exchange to trade,
pursuant to UTP, a security that is listed and registered on another
exchange.\12\ The Commission notes that it previously approved the
listing and trading of the Securities on NYSE.\13\ The Commission also
finds that the proposal is consistent with Rule 12f-5 under the
Act,\14\ which provides that an exchange shall not extend UTP to a
security unless the exchange has in effect a rule or rules providing
for transactions in the class or type of security to which the exchange
extends UTP. The Exchange has represented that it meets this
requirement because it deems the Securities to be equity securities,
thus rendering trading in the Securities subject to the Exchange's
existing rules governing the trading of equity securities.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78f(b)(5).
    \12\ Section 12(a) of the Act, 15 U.S.C. 78l(a), generally
prohibits a broker-dealer from trading a security on a national
securities exchange unless the security is registered on that
exchange pursuant to Section 12 of the Act. Section 12(f) of the Act
excludes from this restriction trading in any security to which an
exchange ``extends UTP.'' When an exchange extends UTP to a
security, it allows its members to trade the security as if it were
listed and registered on the exchange even though it is not so
listed and registered.
    \13\ See NYSE Orders, supra note 4.
    \14\ 17 CFR 240.12f-5.
---------------------------------------------------------------------------

    The Commission further believes that the proposal is consistent
with Section 11A(a)(1)(C)(iii) of the Act,\15\ which sets forth
Congress' finding that it is in the public interest and appropriate for
the protection of investors and the maintenance of fair and orderly
markets to assure the availability to brokers, dealers, and investors
of information with respect to quotations for and transactions in
securities.
---------------------------------------------------------------------------

    \15\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
---------------------------------------------------------------------------

    In support of this proposal, the Exchange represents that its
surveillance procedures are adequate to properly monitor the trading of
the Securities on the Exchange. In addition, the Exchange represents
that it is party to Information Sharing Agreements with NYMEX, ICE
Futures, the London Metal Exchange, and the Kansas Board of Trade
relating to the trading of commodity-based instruments on those
markets. This approval order is conditioned on the Exchange's adherence
to these representations.
    The Commission finds good cause for approving this proposal before
the thirtieth day after the publication of notice thereof in the
Federal Register. As noted previously, the Commission previously found
that the listing and trading of the Securities by NYSE is consistent
with the Act. In addition, the Commission previously found that the
trading of the Securities by Nasdaq pursuant to UTP on a three-month
pilot basis was consistent with the Act. The Commission presently is
not aware of any regulatory issue that should cause it to revisit these
earlier findings or would preclude the trading of the Securities on the
Exchange pursuant to UTP. Therefore, accelerating approval of this
proposed rule change should benefit investors by creating, without
undue delay, additional competition in the market for the Securities.
For these reasons, the Commission finds good cause to approve the
proposal on an accelerated basis.

V. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\16\ that the

proposed rule change (SR-NASDAQ-2007-046), be and it hereby is,
approved on an accelerated basis.
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\17\
Jill M. Peterson,
Assistant Secretary.
---------------------------------------------------------------------------

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

[FR Doc. E7-9739 Filed 5-21-07; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 79, Number 79 (Thursday, April 24, 2014)]
[Rules and Regulations]
[Pages 22772-22774]
[FR Doc No: 2014-09251]

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

ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R08-OAR-2013-0801; FRL-9907-58-Region 8]

Approval and Promulgation of Air Quality Implementation Plans;
Colorado; Prevention of Significant Deterioration; Greenhouse Gas
Tailoring Rule Revisions

AGENCY: Environmental Protection Agency (EPA).

ACTION: Final rule.

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

SUMMARY: The Environmental Protection Agency (EPA) is approving
revisions and additions to the Colorado State Implementation Plan (SIP)
submitted by the Colorado Department of Public Health and the
Environment (CDPHE) to EPA on May 25, 2011. The SIP revision to
Colorado Regulation Number 3 and the Common Provisions Regulation
addresses the permitting of sources of greenhouse gases (GHGs).
Specifically, we are approving revisions to portions of Parts A, B and
D of Regulation Number 3 to incorporate the provisions of EPA's 2010
Prevention of Significant Deterioration (PSD) and Title V Greenhouse
Gas Tailoring Rule. The SIP revisions establish emission thresholds for
determining which new stationary sources and modifications to existing
stationary sources become subject to Colorado's PSD permitting
requirements for their GHG emissions. EPA is approving the May 25, 2011
SIP revision to the Colorado PSD permitting program as being consistent
with federal requirements for PSD permitting. EPA is also approving
several grammar and punctuation changes to Regulation Number 3 made by
the State and included in the May 25, 2011 submittal. EPA is finalizing
this action under section 110 and part C of the Clean Air Act (the Act
or CAA).

DATES: This final rule is effective May 27, 2014.

ADDRESSES: EPA has established a docket for this action under Docket
Identification No. EPA-R08-OAR-2013-0801. All documents in the docket
are listed in the www.regulations.gov index. Although listed in the
index, some information is not publicly available, e.g., CBI or other
information whose disclosure is restricted by statute. Certain other
material, such as copyrighted material, will be publicly available only
in hard copy. Publicly available docket materials are available either
electronically in www.regulations.gov or in hard copy at the Air
Program, Environmental Protection Agency (EPA), Region 8, 1595 Wynkoop
St., Denver, Colorado 80202-1129. EPA requests that if at all possible,
you contact the individual listed in the FOR FURTHER INFORMATION
CONTACT section to view the hard copy of the docket. You may view the
hard copy of the docket Monday through Friday, 8:00 a.m. to 4:00 p.m.,
excluding Federal holidays.

FOR FURTHER INFORMATION CONTACT: Jody Ostendorf, Air Program, Mailcode
8P-AR, Environmental Protection Agency (EPA), Region 8, 1595 Wynkoop
St., Denver, Colorado 80202-1129,<PHONE_NUMBER>,
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Definitions

    For the purpose of this document, the following definitions apply:
    (i) The words or initials Act or CAA mean or refer to the federal
Clean Air Act, unless the context indicates otherwise.
    (ii) The initials CDPHE mean or refer to the Colorado Department of
Public Health and the Environment.
    (iii) The words EPA, we, us or our mean or refer to the United
States Environmental Protection Agency.
    (iv) The initials GHG mean or refer to Greenhouse Gas.
    (v) The initials NSR mean or refer to New Source Review.
    (vi) The initials PSD mean or refer to Prevention of Significant
Deterioration.
    (vii) The initials SIP mean or refer to State Implementation Plan.
    (viii) The words State or CO mean the State of Colorado, unless the
context indicates otherwise.

Table of Contents

I. Background for Our Final Action
II. What final action is EPA taking?
III. Statutory and Executive Orders Review

I. Background for Our Final Action

    The May 25, 2011 SIP submittal includes PSD permitting provisions
that establish (1) GHG as a regulated pollutant under the PSD program,
and (2) emission thresholds for determining which new stationary
sources and modification projects become subject to Colorado's PSD
permitting requirements for their GHG emissions consistent with EPA's
GHG Tailoring Rule. The background for today's final rule and EPA's
national actions pertaining to GHGs is discussed in detail in our
proposal (see 79 FR 2144, January 13, 2014). The comment period was
open for 30 days and we received no written comments.

II. What final action is EPA taking?

    Colorado has adopted and submitted regulations that are
substantively similar to the federal requirements for the permitting of
GHG-emitting sources subject to PSD. EPA is approving the May 25, 2011
submittal for incorporation into the SIP. The submitted revisions
establish thresholds for determining which stationary sources and
modification projects become subject to permitting requirements for GHG
emissions under Colorado's New Source Review (NSR) PSD program.
Specifically, EPA is approving revisions to Regulation Number 3 Parts
A, B and D and the Common Provisions Regulation. EPA has determined
that these May 25, 2011 revisions are approvable into Colorado's SIP
because they are consistent with the requirements of 40 CFR 51.166, in
particular requirements set out in EPA's final GHG Tailoring Rule.

    Minor grammatical and capitalization changes made throughout the
May 25, 2011 submittal are also approved. These include minor changes
to Parts A, B and D of Regulation Number 3. The changes do not revise
the regulatory meaning in Regulation Number 3 and are, therefore,
approved without specific reference in this notice. We are not acting
on grammatical revisions to Part C of Regulation Number 3 since this is
the State's Title V operating permit program and it is not part of the
SIP.

III. Statutory and Executive Orders Review

    Under the Clean Air Act, the Administrator is required to approve a
SIP submission that complies with the provisions of the Act and
applicable federal regulations. 42 U.S.C. 7410(k); 40 CFR 52.02(a).
Thus, in reviewing SIP submissions, EPA's role is to approve state
choices, provided that they meet the criteria of the Clean Air Act.
Accordingly, this final action merely approves state law that meets
federal requirements and disapproves state law that does not meet
federal requirements; when finalized, this action would not impose
additional requirements beyond those imposed by state law. For that
reason, this action:
     Is not a ``significant regulatory action'' subject to
review by the Office of Management and Budget under Executive Order
12866 (58 FR 51735, October 4, 1993);
     does not impose an information collection burden under the
provisions of the Paperwork Reduction Act (44 U.S.C. 3501 et seq.);
     is certified as not having a significant economic impact
on a substantial number of small entities under the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.);
     does not contain any unfunded mandate or significantly or
uniquely affect small governments, as described in the Unfunded
Mandates Reform Act of 1995 (Pub. L. 104-4);
     does not have Federalism implications as specified in
Executive Order 13132 (64 FR 43255, August 10, 1999);
     is not an economically significant regulatory action based
on health or safety risks subject to Executive Order 13045 (62 FR
19885, April 23, 1997);
     is not a significant regulatory action subject to
Executive Order 13211 (66 FR 28355, May 22, 2001);
     is not subject to requirements of section 12(d) of the
National Technology Transfer and Advancement Act of 1995 (15 U.S.C. 272
note) because application of those requirements would be inconsistent
with the Clean Air Act; and
     does not provide EPA with the discretionary authority to
address, as appropriate, disproportionate human health or environmental
effects, using practicable and legally permissible methods, under
Executive Order 12898 (59 FR 7629, February 16, 1994).
    In addition, this rule does not have tribal implications as
specified by Executive Order 13175 (65 FR 67249, November 9, 2000),
because the SIP is not approved to apply in Indian country located in
the state, and EPA notes that it will not impose substantial direct
costs on tribal governments or preempt tribal law.
    The Congressional Review Act, 5 U.S.C. 801 et seq., as added by the
Small Business Regulatory Enforcement Fairness Act of 1996, generally
provides that before a rule may take effect, the agency promulgating
the rule must submit a rule report, which includes a copy of the rule,
to each House of the Congress and to the Comptroller General of the
United States. EPA will submit a report containing this action and
other required information to the U.S. Senate, the U.S. House of
Representatives, and the Comptroller General of the United States prior
to publication of the rule in the Federal Register. A major rule cannot
take effect until 60 days after it is published in the Federal
Register. This action is not a ``major rule'' as defined by 5 U.S.C.
804(2).
    Under section 307(b)(1) of the Clean Air Act, petitions for
judicial review of this action must be filed in the United States Court
of Appeals for the appropriate circuit by June 23, 2014. Filing a
petition for reconsideration by the Administrator of this final rule
does not affect the finality of this action for the purposes of
judicial review nor does it extend the time within which a petition for
judicial review may be filed, and shall not postpone the effectiveness
of such rule or action. This action may not be challenged later in
proceedings to enforce its requirements. (See CAA section 307(b)(2).)

List of Subjects in 40 CFR Part 52

    Environmental protection, Air pollution control, Carbon monoxide,
Incorporation by reference, Intergovernmental relations, Lead, Nitrogen
dioxide, Ozone, Particulate matter, Reporting and recordkeeping
requirements, Sulfur oxides, Volatile organic compounds.

    Authority:  42 U.S.C. 7401 et seq.

    Dated: February 24, 2014.
Howard M. Cantor,
Acting Regional Administrator, Region 8.

    40 CFR part 52 is amended to read as follows:

PART 52--APPROVAL AND PROMULGATION OF IMPLEMENTATION PLANS

0
1. The authority citation for part 52 continues to read as follows:

    Authority:  42 U.S.C. 7401 et seq.

Subpart G--Colorado

0
2. Section 52.320 is amended by adding paragraph (c)(128) to read as
follows:

Sec.  52.320  Identification of plan.

* * * * *
    (c) * * *
    (128) On May 25, 2011, the State of Colorado submitted revisions to
5 CCR 1001-5, Regulation 3, Stationary Source Permitting and Air
Pollutant Emission Notice Requirements, parts A, B, and D. The May 25,
2011 submittal addresses the permitting of sources of greenhouse gases
(GHGs). The revisions to portions of parts A, B, and D incorporate the
provisions of the Prevention of Significant Deterioration (PSD) and
Title V Greenhouse Gas Tailoring Rule. The revisions establish
thresholds for determining which new stationary sources and
modifications to existing stationary sources become subject to
Colorado's PSD permitting requirements for their GHG emissions. These
revisions are consistent with federal requirements for PSD permitting.
    (i) Incorporation by reference.
    (A) 5 CCR 1001-5, Regulation Number 3, Stationary Source Permitting
and Air Pollutant Emission Notice Requirements, Part A, Concerning
General Provisions Applicable to Reporting and Permitting, I.B.,
Definitions, I.B.10, Carbon Dioxide Equivalent (CO2e); I.B.23.,
Greenhouse Gas (GHG); I.B.25., Major Source, I.B.25b; and I.B.44.,
Subject to Regulation; VI., Fees, VI.D., Fee Schedule; Part B,
Concerning Construction Permits, II.A.4. and II.A.7; Part D, Concerning
Major Stationary Source New Source Review and Prevention of Significant
Deterioration, II., Definitions, II.A., introductory paragraph, II.A.8,
Best Available Control Technology (BACT); II.A.22., Major Modification;
II.A.24., Major Stationary Source; II.A.24.a., introductory paragraph,
II.A.24.a.(ii); II.A.24.b.; II.A.38., Regulated NSR Pollutant,
II.A.38.e. and II.A.38.f.; adopted October

21, 2010 and effective December 15, 2010.

[FR Doc. 2014-09251 Filed 4-23-14; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 86, Number 83 (Monday, May 3, 2021)]
[Notices]
[Page 23358]
[FR Doc No: 2021-09257]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER21-1716-000]

BP Energy Retail LLC; Supplemental Notice That Initial Market-
Based Rate Filing Includes Request for Blanket Section 204
Authorization

    This is a supplemental notice in the above-referenced BP Energy
Retail LLC's application for market-based rate authority, with an
accompanying rate tariff, noting that such application includes a
request for blanket authorization, under 18 CFR part 34, of future
issuances of securities and assumptions of liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street NE, Washington,
DC 20426, in accordance with Rules 211 and 214 of the Commission's
Rules of Practice and Procedure (18 CFR 385.211 and 385.214). Anyone
filing a motion to intervene or protest must serve a copy of that
document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability, is May 11, 2021.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically may mail similar pleadings to
the Federal Energy Regulatory Commission, 888 First Street NE,
Washington, DC 20426. Hand delivered submissions in docketed
proceedings should be delivered to Health and Human Services, 12225
Wilkins Avenue, Rockville, Maryland 20852.
    In addition to publishing the full text of this document in the
Federal Register, the Commission provides all interested persons an
opportunity to view and/or print the contents of this document via the
internet through the Commission's Home Page (http://www.ferc.gov) using
the ``eLibrary'' link. Enter the docket number excluding the last three
digits in the docket number field to access the document. At this time,
the Commission has suspended access to the Commission's Public
Reference Room, due to the proclamation declaring a National Emergency
concerning the Novel Coronavirus Disease (COVID-19), issued by the
President on March 13, 2020. For assistance, contact the Federal Energy
Regulatory Commission at<EMAIL_ADDRESS>or call toll-free,
(886) 208-3676 or TYY,<PHONE_NUMBER>.

    Dated: April 21, 2021.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2021-09257 Filed 4-30-21; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 225 (Monday, November 23, 2015)]
[Notices]
[Pages 73011-73015]
[FR Doc No: 2015-29713]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76449; File No. SR-NASDAQ-2015-140]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to Sponsored Access

November 17, 2015.
    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 November 4, 2015, The NASDAQ Stock Market LLC (``NASDAQ'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``Commission'') the proposed rule change as described in
Items I, II, and III, below, which Items have been prepared by NASDAQ.
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 amend Nasdaq Rule 4615 entitled, ``Sponsored
Participants'' to: (1) Define the term ``Sponsored Access'' and
``Customer Agreement;'' (2) specify the requirements to comply with
Rule 15c3-5 under the Securities Exchange Act of 1934 (``Market Access
Rule''); and (3) remove the requirement that each Sponsored Participant
and each Sponsoring Member must enter into certain agreements with the
Exchange.
    The text of the proposed rule change is available on the Exchange's
Web site at http://www.nasdaq.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
    The purpose of the filing is to amend Nasdaq Rule 4615 entitled,
``Sponsored Participants'' to: (1) Define the term ``Sponsored
Access,'' and specifically stating that compliance with the Market
Access Rule is required, and defining ``Customer Agreement'' to refer
to the agreement that must be executed between the Sponsoring
Participant and the Sponsoring Member; (2) specify the requirements to
comply with the Market Access Rule; and (3) remove the requirement that
each Sponsored Participant and each Sponsoring Member must enter into
certain agreements with the Exchange to streamline its rule and remove
unnecessarily burdensome notice requirements to the Exchange.
Defining Sponsored Access
    A Sponsored Participant may be a member or a non-member of the
Exchange, such as an institutional investor, that gains access to the
Exchange \3\ and trades under a Sponsoring Member's execution and
clearing identity pursuant to sponsorship arrangements currently set
forth in Nasdaq Rule 4615. The Exchange is proposing to define the term
``Sponsored Access'' to clarify the type of market access arrangement
that is subject to Nasdaq Rule 4615. The Exchange proposes to amend
Nasdaq Rule 4615(a) to add the following definition, ``Sponsored Access
shall mean an arrangement whereby a member permits its customers to
enter orders into the Exchange's System that bypass the member's
trading system and are routed directly to the Exchange, including
routing through a service bureau or other third party technology
provider.'' This definition was derived from the Commission's
description of Sponsored Access used in the release approving the
Market Access Rule.\4\ The Exchange believes that defining Sponsored
Access in Nasdaq Rule 4615 will provide market participants with
greater clarity concerning Sponsored Access and their obligations with
respect to this type of access arrangement.
---------------------------------------------------------------------------

    \3\ For example, a broker-dealer may allow its customer--whether
an institution such as a hedge fund, mutual fund, bank or insurance
company, an individual, or another broker-dealer--to use the broker-
dealer's MPID, account or other mechanism or mnemonic used to
identify a market participant for the purposes of electronically
accessing the Exchange.
    \4\ The Market Access Rule, among other things, requires broker-
dealers providing others with access to an exchange or alternative
trading system to establish, document, and maintain a system of risk
management controls and supervisory procedures reasonably designed
to manage the financial, regulatory, and other risks of providing
such access. See Securities Exchange Act Release No. 63241 (November
3, 2010), 75 FR 69792 (November 15, 2010).
---------------------------------------------------------------------------

Defining Customer Agreement
    The Exchange proposes to amend Nasdaq Rule 4615(b)(i) to define the
agreement that Sponsored Participants must enter into and maintain with
one or more Sponsoring Members to establish proper relationship(s) and
account(s) through which the Sponsored Participant may trade on the
Nasdaq Market Center, as a ``Customer Agreement.''
Market Access Rule
    Pursuant to Nasdaq Rule 4615, the Sponsoring Member is responsible
for the activities of the Sponsored Participant. Sponsored Participants
are required to have procedures in place to comply with Exchange rules,
and the Sponsoring Member takes responsibility for the Sponsored
Participant's activity on the Exchange. Members may have multiple
Sponsored Access relationships in place at a given time. The Exchange's
examination program assesses compliance with Nasdaq Rule 4615, among
other rules.\5\ The Exchange proposes to specifically enumerate within
Nasdaq Rule 4615 the member's obligation to comply with the Market
Access Rule, which members are currently required to comply with
respecting [sic] market access. The Exchange believes that specifying
the obligation to comply with the Market Access Rule specifically will
reinforce that Nasdaq Rule 4615 presupposes member compliance with the
Market Access Rule.
---------------------------------------------------------------------------

    \5\ The Exchange has a Regulatory Services Agreement with
Financial Industry Regulatory Authority (``FINRA'') to conduct
regulatory examinations, among other obligations.
---------------------------------------------------------------------------

Elimination of Certain Contract Requirements
    At this time, the Exchange proposes to remove requirements to
submit certain forms to the Exchange. There are three forms that are
currently required by Nasdaq Rule 4615: (1) An agreement between the
Sponsored Participant and the Exchange (``Exchange Agreement''); (2) a
User Agreement between the Sponsored Participant and its Sponsoring
Member that is provided to the Exchange; and (3) a Notice of Consent
provided to the Exchange by the Sponsoring Member. NASDAQ Rule 4615
will continue to require that each Sponsored Participants enter into a
Customer Agreement with each Sponsoring member to establish proper
relationship(s) and account(s) through which the Sponsored Participant
may trade on the Nasdaq Market Center. These Customer Agreement(s) must
incorporate the Sponsorship Provisions set forth in paragraph (ii) in
Nasdaq Rule 4615.\6\ The Customer Agreement remains unaffected by this
rule proposal. Also, the Exchange is proposing to amend Nasdaq Rule
4615 to identify the aforementioned agreement as the ``Customer
Agreement.''
---------------------------------------------------------------------------

    \6\ The Customer Agreement is required to include, among other
language, all orders entered by the Sponsored Participants and any
person acting on behalf of or in the name of such Sponsored
Participant and any executions occurring as a result of such orders
are binding in all respects on the Sponsoring Member and, also,
Sponsoring Member is responsible for any and all actions taken by
such Sponsored Participant and any person acting on behalf of or in
the name of such Sponsored Participant.
---------------------------------------------------------------------------

    Today, only members may request connectivity to the Exchange. A
member may obtain one or more ports for the purpose of providing
Sponsored Access. If separate ports are requested by a member for the
purpose of providing Sponsored Access, the member must request those
ports from the Exchange and the member is responsible for the Sponsored
Participant's activity on the Exchange. In all circumstances, the
Exchange will only permit members to request connectivity to the market
and the member is responsible for all customer orders submitted through
the member's port.
    First, the Exchange believes that completing and submitting the
Exchange Agreement, User Agreement and Notice of Consent is
unnecessarily burdensome in light of the current structure in place at
the Exchange. Only members may request connectivity to the Exchange by
contacting Nasdaq

Subscriber Services. Such connection by the member requires approval by
the Exchange for the purpose of testing as well as other relevant
information sharing with the Exchange by the member to obtain a port.
The Exchange is aware of the member responsible for each of its ports,
however the Exchange may not be aware of the member's Sponsored Access
arrangements due to varied ways that a member may utilize a port. The
Exchange believes the requirement to also complete and submit an
Exchange Agreement, User Agreement and Notice of Consent with our
Nasdaq Membership Department is viewed as unnecessarily burdensome by
members because of the multitude of relationships the member has with
various customers. Members have expressed to the Exchange that they
have multiple relationships with customers, which customer
relationships change over time.\7\ Members have indicated that the
necessity to continuously disclose the updated customer relationships
to the Exchange is burdensome and unnecessary as they remain
responsible for all activity conducted on the Exchange through a port
assigned to the member. Further such information is available to the
Exchange upon Exchange request from its regulatory group.\8\
---------------------------------------------------------------------------

    \7\ For example, a broker-dealer's customers, which could
include hedge funds, institutional investors, individual investors,
and other broker-dealers.
    \8\ See Nasdaq Rule 8210.
---------------------------------------------------------------------------

    Second, the Exchange believes that the Exchange Agreement between
the Sponsored Participant and the Exchange is also unnecessarily
burdensome. The requirement to provide this form was intended to give
the Exchange notification that such a relationship existed and to
ensure that the Sponsored Participant was informed of the Exchange's
Limited Liability Company Agreement, Bylaws, Rules and procedures. The
agreements also provided the Exchange with contractual privity, which
would no longer exist with the removal of the Exchange Agreement. The
Exchange does not believe the loss of privity with the Sponsored
Participant creates a concern as the Exchange has the ability to remove
access to the port \9\ at any time if the activity of the Sponsored
Participant warrants such removal. In addition, as discussed below, the
Sponsored Participant will be made aware of its obligations through the
Customer Agreement that it executed with the Sponsoring Member. As
noted above, the Exchange only permits its members to request
connectivity to the Exchange's System and members responsible for all
trades submitted through such ports. Pursuant to Nasdaq Rule 4615 the
trading activity of a Sponsored Participant must be monitored by the
Sponsoring Member for compliance with the terms of the Customer
Agreement with the Sponsoring Participant.\10\ Finally, the member
continues to be obligated to comply with Nasdaq Rule 4615 and the
Market Access Rule. The Sponsoring Member is responsible for any and
all actions taken by such Sponsored Participant and any person acting
on behalf of or in the name of such Sponsored Participant.
---------------------------------------------------------------------------

    \9\ Nasdaq Rule 4611, entitled ``Nasdaq Market Center
Participant Registration'' permits Nasdaq to impose upon any Nasdaq
Market Maker, Nasdaq ECN or Order Entry Firm such temporary
restrictions upon the automated entry or updating of orders or
Quotes/Orders as Nasdaq may determine to be necessary to protect the
integrity of Nasdaq's systems.
    \10\ See Nasdaq Rule 4615(b)(ii)(G).
---------------------------------------------------------------------------

    Nasdaq Rule 4615 requires that the Sponsored Participant and the
Sponsored Member maintain a Customer Agreement to ensure compliance
with the Exchange's Rules and obligations related to security, among
other things.\11\ Nasdaq Rule 4615 requires that the Customer Agreement
specify that the Sponsored Participant shall maintain, keep current and
provide to the Sponsoring Member a list of individuals authorized to
obtain access to the Exchange on behalf of the Sponsored Participant
and provide appropriate training. In addition, pursuant to the Customer
Agreement provisions, the Sponsored Participant is required to take
reasonable security precautions to prevent unauthorized use or access
to the Exchange, including unauthorized entry of information into the
Exchange, or the information and data made available therein. Finally,
the Customer Agreement must provide that the Sponsored Participant is
responsible for any and all orders, trades and other messages and
instructions entered, transmitted or received under identifiers,
passwords and security codes of authorized individuals, and for the
trading and other consequences thereof, including granting unauthorized
access to the Exchange. The contents and the requirement for a Customer
Agreement are unchanged.
---------------------------------------------------------------------------

    \11\ See Nasdaq Rule 4615(b)(ii)(B).
---------------------------------------------------------------------------

    Pursuant to Nasdaq Rule 4615 the Sponsoring Member must provide a
Notice of Consent to the Exchange. The Exchange believes that a Notice
of Consent provided to the Exchange by the Sponsoring Member is also
unnecessarily burdensome. The Notice of Consent notifies the Exchange
of the relationship between the Sponsoring Member and the Sponsored
Participant. However, as noted above, the Exchange's regulatory group
may request information about a particular customer relationship as it
deems necessary.\12\ Further, the Exchange is made aware of the
existence of ports when the Sponsoring Member requests connectivity to
the Exchange and the Members are responsible for all trading activity
by its Sponsored Participant. In addition, the Exchange, through its
Regulatory Services Agreement with the Financial Industry Regulatory
Authority (FINRA), reviews for member compliance with Nasdaq Rule 4615
and the Market Access Rule. The Exchange has the ability to remove
access to the port \13\ at any time if the activity of the Sponsored
Participant would warrant such removal.
---------------------------------------------------------------------------

    \12\ See Nasdaq Rule 8210.
    \13\ See note 9.
---------------------------------------------------------------------------

    In light of the foregoing, the requirement to complete and submit
an Exchange Agreement and Notice of Consent with the Nasdaq Membership
Department is viewed as unnecessarily burdensome by members, who must
update their customer relationships internally and provides such
information upon Exchange request.
    Finally, the Exchange notes it is correcting a capitalization in
Nasdaq Rule 4615(ii)(C).
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act \14\ in general, and furthers the objectives of Section
6(b)(5) of the Act \15\ in particular, in that it is designed to
promote just and equitable principles of trade, to 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, by enhancing the risk protections available to Exchange
members.
---------------------------------------------------------------------------

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

Defining Sponsored Access
    Adding a definition of Sponsored Access will assist market
participants to understand the type of arrangements that are subject to
Nasdaq Rule 4615 and such clarity will serve to promote just and
equitable principles of trade. Members have indicated, and the Exchange
believes, that adding the Sponsored Access definition will provide
members with additional guidance with respect to Nasdaq Rule 4615.

Defining Customer Agreement
    Defining the agreement that Sponsored Participants must enter into
and maintain with one or more Sponsoring Members to establish proper
relationship(s) and account(s) through which the Sponsored Participant
may trade on the Nasdaq Market Center, as a ``Customer Agreement'' will
also serve to provide members with clarity on the agreement that the
Exchange will continue to require and the obligations that are
contained within the Customer Agreement. This amendment is non-
substantive.
Market Access Rule
    Members continue to be required to comply with Rule 4615 and the
Market Access Rule. The Exchange believes that specifically enumerating
the member's responsibility to comply with the Market Access Rule will
provide member's with additional guidance concerning the application of
the Rule. This change is non-substantive as members are currently
responsible to comply with the Market Access Rule.
Elimination of Certain Contract Requirements
    Removing the requirement to submit and complete an Exchange
Agreement, User Agreement and Notice of Consent will remove impediments
to and perfect the mechanism of a free and open market by removing a
burdensome and time-consuming requirement for members. While
elimination of the Exchange Agreement requirement will also eliminate
the Exchange's contractual privity with the Sponsored Participant, he
[sic] Exchange notes that any potential concerns to the loss of privity
are mitigated by the Exchange's ability to restrict the Sponsored
Participant's access to a port \16\ at any time it is warranted by the
Sponsored Participant's trading activity. Also, members have indicated
that customer relationships must be frequently updated and it is
unnecessarily burdensome to continuously update the Exchange with this
information that is available upon request. Connectivity to the
Exchange is authorized by the Exchange and must be requested by a
member of the Exchange. Such connection requires approval by the
Exchange, testing and other security features as well as information
sharing with the Exchange by the member. In addition, Nasdaq Rule 4615
delineates the terms of the required contractual relationship between
the Sponsoring Member and the Sponsored Participant in the Customer
Agreement, which remains in effect. The Exchange believes that the
Notice of Consent is unnecessary as Sponsoring Members must request
connectivity to the Exchange as well as enter into a Customer Agreement
with the Sponsored Participant. Finally, as is the case with other
Exchange Rules, the Exchange examines for compliance with Nasdaq Rule
4615 and may request information about any customer relationship which
concerns the Exchange.
---------------------------------------------------------------------------

    \16\ See note 9.
---------------------------------------------------------------------------

    The requirement to also complete and submit an Exchange Agreement,
User Agreement and a Notice of Consent with our Nasdaq Membership
Department is viewed as unnecessarily burdensome by members, who must
update their customer relationships internally.

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 not necessary or appropriate in
furtherance of the purposes of the Act for the reasons below.
Defining Sponsored Access
    The addition of a definition for Sponsored Access will assist
market participants to understand the type of arrangement subject to
Nasdaq Rule 4615 and such clarity will serve to promote just and
equitable principles of trade.
Defining Customer Agreement
    Defining the agreement that Sponsored Participants must enter into
and maintain with one or more Sponsoring Members to establish proper
relationship(s) and account(s) through which the Sponsored Participant
may trade on the Nasdaq Market Center, as a ``Customer Agreement'' does
not create an undue burden on competition as this amendment is non-
substantive and the Exchange believes that providing guidance
concerning the type of arrangement subject to Nasdaq Rule 4615 will
facilitate member compliance and does not unduly burden competition.
Market Access Rule
    In addition, the Exchange believes that specifically enumerating
the member's obligation to comply with the Market Access Rule does not
create an undue burden on competition, but rather reinforces the
application of the Rule. This change is non-substantive as members are
currently responsible to comply with the Market Access Rule.
Elimination of Certain Contract Requirements
    Removing the requirement to complete an Exchange Agreement, User
Agreement and Notice of Consent under Nasdaq Rule 4615 does not create
an undue burden on competition. The Exchange believes that this
requirement is unnecessarily burdensome as the Exchange's regulatory
group may request information about a particular customer relationship
as it deems necessary.\17\ Further, the Exchange is made aware of the
existence of ports when the Sponsoring Member requests connectivity to
the Exchange and the Members are responsible for all trading activity
by its Sponsored Participant. In order to obtain connectivity to the
Exchange, members are required to contact Nasdaq Subscriber Services
and request a connection to the market. Such connection requires
approval by the Exchange, testing and other security features as well
as information sharing with the Exchange by the member. Only members
are permitted to request connectivity to the Exchange. The requirement
to also complete and submit an Exchange Agreement, User Agreement and a
Notice of Consent with our Nasdaq Membership Department is viewed as
unnecessarily burdensome by members, who must update their customer
relationships internally. Additionally, the Exchange examines for
compliance with Nasdaq Rule 4615 and may request information about any
customer relationship which concerns the Exchange.
---------------------------------------------------------------------------

    \17\ See Nasdaq Rule 8210.
---------------------------------------------------------------------------

    The Sponsoring Member remains responsible for customer activity
conducted on the Exchange through the Customer Agreement, among other
obligations. Additionally, Sponsored Participants that obtain access to
the Exchange's System are required to take reasonable security
precautions and prevent unauthorized use or access to the Nasdaq Market
Center, including unauthorized entry of information into the Nasdaq
Market Center,\18\ pursuant to the Customer Agreement. Further, the
Sponsored Participants is responsible to establish adequate procedures
and controls that permit it to effectively monitor its employees',
agents' and customers' use and access to the Nasdaq Market Center for
compliance with the terms of this agreement.\19\ In addition, the
Exchange, through its Regulatory Services Agreement with FINRA conducts
reviews of members for compliance with Nasdaq Rule 4615 and

the Market Access Rule. The Exchange has the ability to remove access
to the port \20\ at any time if the activity of the Sponsored
Participant would warrant such removal. Finally, Nasdaq Rule 4615 is
currently applicable to all Nasdaq members that desire to sponsor
access for its customers and applies to trading in all securities on
the Exchange.
---------------------------------------------------------------------------

    \18\ See Nasdaq Rule 4615(b)(ii)(G).
    \19\ See Nasdaq Rule 4615(b)(ii)(H).
    \20\ See note 9.
---------------------------------------------------------------------------

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)(iii) of the Act \21\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\22\
---------------------------------------------------------------------------

    \21\ 15 U.S.C. 78s(b)(3)(a)(iii).
    \22\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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

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-2015-140 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NASDAQ-2015-140. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NASDAQ-2015-140 and should
be submitted on or before December 14, 2015.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\23\
---------------------------------------------------------------------------

    \23\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-29713 Filed 11-20-15; 8:45 am]
BILLING CODE 8011-01-P