[Federal Register: June 5, 2008 (Volume 73, Number 109)]
[Notices]
[Page 32074-32075]
[DOCID:fr05jn08-113]

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DEPARTMENT OF TRANSPORTATION

National Highway Traffic Safety Administration

[Docket No. NHTSA-2007-0053]

Motley Rice, LLC, Denial of Petition for Compliance Investigation

    Motley Rice, LLC (Motley Rice), counsel of record for the
plaintiffs in the lawsuit styled Day v. Ford Motor Company, Civ. No.
04CVS-10181 (N.C., Guilford County), has petitioned National Highway
Traffic Safety Administration (NHTSA) pursuant to 49 CFR 552.3 seeking
an order finding that certain vehicles manufactured by Ford Motor
Company (Ford) are not in compliance with Federal Motor Vehicle Safety
Standard (FMVSS) No. 206,\1\ Door Locks and Door Retention Components.
In addition, petitioner seeks an order finding that Ford's use of the
Modified Dynamic Test Method to demonstrate compliance was
inappropriate or, stated alternatively, that Ford's use of the 1960
Severy acceleration pulse is not a uniform approved pulse that can be
inserted into any test for the purpose of determining regulatory
compliance. Petitioner asserts that the following Ford vehicles are
non-compliant with FMVSS No. 206: (1) Model Year (MY) 1997-2000 F-150--
PN-96, (2) MY 1997-2000 F-250--Light Duty, (3) MY 1997-2000 Ford
Expedition, and (4) MY 1997-2000 Lincoln Navigator vehicles.
Collectively, this notice refers to these vehicles as ``subject
vehicles.''
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    \1\ Throughout this Notice, all references to FMVSS No. 206 are
based on the version of the standard in effect for the applicable
manufacturing dates of the subject vehicles.
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    Motley Rice contends that the identified vehicles are not in
compliance with FMVSS No. 206. Specifically, the petitioner contends
that the identified vehicles are not in compliance with the 30g
(inertia load) requirement of FMVSS No. 206 as a result of a defect in
the outside handle torsion spring. The spring tension in these handles,
petitioner contends, is substantially below specification and may
reduce the level for inertia activation of the system to approximately
half that needed to meet the 30g calculation requirements of FMVSS No.
206 per the calculation referenced in Society of Automotive Engineers
Recommended Practice J839 (SAE-J839).
    Under the National Traffic and Motor Vehicle Safety Act, as amended
and recodified, 49 U.S.C. 30112(a)(1), a person may not manufacture for
sale or sell any motor vehicle manufactured on or after the date of an
applicable motor vehicle safety standard takes effect unless the
vehicle complies with the standard and is covered by a certification
issued under 49 U.S.C. 30115. Except with regard to vehicles not
manufactured to comply with the FMVSSs but later imported, the
prohibition of section 30112(a) does not apply to the sale of a motor
vehicle after the first purchase of the vehicle in good faith other
than for resale. The FMVSSs generally apply to the manufacture and sale
of new vehicles, as distinguished from used vehicles.
    In general, NHTSA's enforcement of the FMVSSs is based on
compliance testing of samples of new products conducted using the test
procedures set forth in the relevant safety standard. However,
manufacturers certifying compliance with FMVSSs are not required to
follow exactly the compliance test procedures set forth in the
applicable standard. Manufacturers are required to exercise reasonable
care to assure compliance in making their certifications. 49 U.S.C.
30115(a). It may be simplest and is best for a manufacturer to
establish that it exercised reasonable care if it has strictly followed
NHTSA's test procedures. However, NHTSA has recognized that reasonable
care might also be shown using modified procedures if the manufacturer
could demonstrate that the modifications were not likely to have had a
significant impact on test results. In addition, reasonable care might
be shown using engineering analyses or computer simulations.
    FMVSS No. 206, Door Locks and Door Retention Components contains a
number of requirements. One is the inertia load requirement. S<IP_ADDRESS>
Inertia Load, provides:

    The door latch shall not disengage from the fully latched
position when a longitudinal or transverse inertia load of 30g is
applied to the door latch system (including the latch and its
actuating mechanism with the locking mechanism disengaged).

    The accompanying compliance provision states:

    S<IP_ADDRESS>. Inertia Load. Compliance with S<IP_ADDRESS> shall be
demonstrated by approved tests or in accordance with paragraph 6 of
Society of Automotive Engineers Recommended Practice J839, Passenger
Car Side Door Latch Systems, June 1991.

    SAE-J839 paragraph 6 specifies a 30g-based calculation. Apart from
the SAE calculation, the only NHTSA-approved test \2\ for compliance
with the transverse inertia load requirement of FMVSS No. 206 at the
time the vehicles were produced was the 1967 General Motors Corporation
(GM) dynamic pulse test. There, GM developed a side impact pulse in
light of the 30g Federal requirement. GM used research on side impacts
conducted by D. Severy in 1960 as well as some GM test data. Using the
Severy and GM data, GM developed a characteristic pulse shape with a
maximum value exceeding 30g and a duration from GM data. This pulse was
duplicated on a sled by altering the variables of pin shape and air
pressure. In a sled test using this pulse, on-board, high speed movie
cameras monitoring the latch determine that unlatching does not occur.
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    \2\ U.S. DOT Federal Highway Administration, National Highway
Safety Bureau Letter Dated 12/22/1967, http://isearch.nhtsa.gov/gm/
67/nht67-1.26.html.
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    Ford certified the subject vehicles to the inertia load
requirements of FMVSS No. 206 by using the SAE-J839 calculation.
According to the petition, Ford thereafter determined that compliance
(to the transverse inertia load requirement) could be demonstrated by
using a modified version of the 1967 GM Dynamic Pulse Test Method; Ford
used a computer-simulated program that relied upon the 1960 Severy
acceleration pulse.
    If NHTSA were to grant the Motley Rice petition, the agency would
proceed to conduct a compliance investigation that might or might not
result in an order to Ford under 49 U.S.C. 30118(b). In deciding
whether to open a compliance or defect investigation, NHTSA considers,
among other factors, allocation of agency resources, agency priorities,
and the likelihood of success in litigation that might arise from an
order the agency may issue. 49 CFR 552.8. See Center for Auto Safety v.
Dole, 846 F.2d 1532, 1535 (D.C. Cir. 1988).
    In this case, as discussed in further detail below, Ford has a
simulation

purporting to show compliance using the approved GM test. To evaluate
the compliance of the subject vehicles with FMVSS No. 206's transverse
inertia load requirements based on the approved 1967 GM dynamic pulse
test, NHTSA likely would test the vehicles using the approved GM test.
However, the agency does not have an in-house test procedure for the
1967 GM dynamic pulse test and we likely would develop one to evaluate
the latch on the subject vehicles. This effort would be time consuming,
likely would involve some trials and subsequent refinements (and
therefore would be expensive), and would be of no broad-based benefit
to the agency.
    Assuming that NHTSA were to undertake testing, there would be
significant practical difficulties. The subject vehicles were sold to
their first purchasers about eight or more years ago. Programmatically,
NHTSA has tested new, rather than used, vehicles for compliance with
FMVSSs because NHTSA's burden would be to demonstrate that the vehicle
did not comply at the time of sale or offer for sale. It is extremely
unlikely that new vehicles for the model years in question could be
obtained. In view of these limiting circumstances, NHTSA could consider
expending some of its limited funds to have a test vehicle or vehicle
subassembly containing a new latch system assembly identical to the
original Ford latch assembly manufactured. The specifics of the test
assembly would have to be developed in conjunction with the development
of the test procedure. Such an approach would be novel and might be
challenged on various grounds, including whether testing was
permissible and whether the test assembly replicated or was
representative of latches in the subject vehicles.
    Even if NHTSA decided to invest considerable resources and time in
such an investigation, the agency could issue an order finding
noncompliance only after giving Ford an opportunity for an
administrative hearing, and the agency would have the burden of
substantiating such an order in a de novo proceeding in Federal court.
In any such proceeding, Ford likely would present its simulation
analysis that used commercially available dynamic analysis software,
Working ModelTM. Ford's Working ModelTM
simulation was detailed and based on the dimensional specifications of
the components. The acceleration pulse used in the simulation analysis
was based on the NHTSA approved GM dynamic pulse test for certification
to the transverse inertia load requirements of FMVSS No. 206. The
simulation analysis methodology also included conservative measures
where spring forces and part masses were set to levels, based either on
design or measured values, that would provide the least contribution to
maintaining a latched position. The effects of friction were also
eliminated since those forces would improve latch performance by
tending to resist unlatching. Based on our preliminary review, NHTSA
would be very unlikely to develop sufficient evidence to overcome the
simulation analysis conducted by Ford. Even if NHTSA were somehow to
prevail in making such a case, by the time such an order were upheld
few if any of the subject vehicles would be within the 10-year age
limit for a free remedy under 49 U.S.C. 30120(g).
    We have also considered safety issues presented by the latches in
our testing and in our database. Our review of available New Car
Assessment Program (NCAP) vehicle side impact test data included
results for the MY 1999 Ford F150, and MY 2000 Ford F150 extended cab.
Each vehicle tested yielded the highest government safety rating of 5-
Stars for side impact protection and none of the results from these
tests indicated that door unlatching occurred.
    Lastly, our review of consumer complaints filed with NHTSA for the
model year motor vehicles identified in the subject petition yielded
only two cases potentially related to inertia door opening, one of
which involved a severe 50 mph rollover crash. Given the three million-
plus sales volume for the subject vehicles, the number of years of
exposure already experienced by these vehicles, and the low number of
alleged incidents reported to the agency, it does not appear that these
vehicles are experiencing performance issues in the field.
    In view of the available safety-related information that does not
indicate the existence of a safety problem, the plausible position
taken by Ford with regard to the vehicle's compliance, the substantial
resources that would be required to address this matter in detail, and
the agency's need to allocate its resources carefully to address issues
involving appreciable safety risks, NHTSA has concluded that no further
action is warranted. Therefore, the petition is denied.

    Authority: 49 U.S.C. 30162(d); delegations of authority at CFR
1.50 and 501.8.

    Issued on: May 29, 2008.
Daniel C. Smith,
Associate Administrator for Enforcement.
 [FR Doc. E8-12546 Filed 6-4-08; 8:45 am]

BILLING CODE 4910-59-P


[Federal Register Volume 85, Number 169 (Monday, August 31, 2020)]
[Notices]
[Pages 53883-53885]
[FR Doc No: 2020-19052]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89664; File No. SR-BOX-2020-35]

Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing
and Immediate Effectiveness of a Proposed Rule Change To Amend BOX Rule
7160 (Transfer of Positions)

August 25, 2020.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on August 18, 2020, BOX Exchange LLC (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 Exchange. The Exchange filed the proposal as
a ``non-controversial'' proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \3\ and Rule 19b-4(f)(6) thereunder.\4\ The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
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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 BOX Rule 7160 (Transfer of
Positions). The text of the proposed rule change is available from the
principal office of the Exchange, at the Commission's Public Reference
Room and also on the Exchange's internet website at http://boxoptions.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 these statements may be examined at
the places specified in Item IV below. The self-regulatory organization
has prepared summaries, set forth in Sections A, B, and C below, of the
most significant aspects of such statements.

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

1. Purpose
    The Exchange recently filed a proposed change to establish new Rule
7160 to provide a process by which Participants may transfer option
positions in limited circumstances off the BOX Trading Floor.\5\
Currently, Rule 7160 permits market participants to move positions from
one account to another without first exposure of the transaction on the
Exchange, provided certain exceptions are met. Specifically, the
exception in Rule 7160(a)(2) provides that off the Exchange transfers
of positions are permissible if from one account to another account
where no change in ownership is involved (i.e., accounts of the same
Person),\6\ provided the accounts are not in separate aggregation units
or otherwise subject to information barrier or account segregation
requirements. These transfers are subject to, among other things, the
requirement to submit prior written notice of the transfers to the

Exchange pursuant to paragraph (d) and the restriction on effecting
these transfers repeatedly or routinely.
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    \5\ See Securities Exchange Act Release No. 88810 (May 5, 2020),
85 FR 27782 (May 11, 2020)(SR-BOX-2020-09). The Exchange notes that
the proposed change was similar to Cboe Rule 6.7.
    \6\ ``Person'' is defined as ``an individual, partnership
(general or limited), joint stock company, corporation, limited
liability company, trust or unincorporated organization, or any
governmental entity or agency or political subdivision thereof.''
This definition is identical to Cboe Rule 1.1.
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    The Exchange now proposes to amend Rule 7160 to be in line with a
recent proposal submitted by Cboe.\7\ The proposed rule change excepts
off-floor position transfers effected pursuant to Rule 7160(a)(2) from
the prior written notice requirement in paragraph (d) and from
repeated, recurring use restriction in paragraph (g). Off-floor
position transfers pursuant to Rule 7160(a)(2) do not involve a change
in ownership. In other words, such transfers may only occur between the
same individual or legal entity. These types of transfer are merely
transfers of positions from one account to another, both of which
accounts are attributable to the same individual or legal entity, and
thus the transferred option positions will continue to be attributable
to the same Person. A market participant effecting an off Exchange
position transfer pursuant to Rule 7160(a)(2) is analogous to an
individual transferring funds from a checking account to a savings
account, or from an account at one bank to an account at another bank--
the money still belongs to the same person, who is just holding it in a
different account for personal financial reasons.
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    \7\ See Securities Exchange Act Release No. 89389 (July 23,
2020), 85 FR 45709 (July 29, 2020)(SR-CBOE-2020-067).
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    Because there is no change in ownership of positions transferred
pursuant to Rule 7160(a)(2), the Exchange believes it is appropriate to
permit them to occur as routinely and repeatedly as a market
participant would like. These transfers will continue to be subject to
the prohibition on netting set forth in Rule 7160(b), and thus may not
result in the closing of any positions. While the off-floor position
transfers permitted by Rule 7160 were intended to accommodate non-
routine and non-recurring transfers, the Exchange believes permitting
routine, recurring off-floor position transfers that do not result in a
change in ownership or reduction in open interest is consistent with
the purpose of not being used to circumvent the normal auction purpose.
Additionally, given that these transfers may occur on a regular basis
in accordance with a market participants' business needs and
procedures, the Exchange believes prior written notice would be onerous
and would not serve any purpose given the lack of change in ownership
and in open interest. The Exchange believes this will provide market
participants with additional flexibility to structure their option
position accounts as they believe is appropriate and move their
positions between accounts as they deem necessary and appropriate for
their business and trading needs, including for risk management
purposes.
    The proposed rule change also corrects an erroneous cross-reference
in Rule 7160(d)(1), as the method for determining the transfer price is
in paragraph (c) rather than paragraph (e) of Rule 7160.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Securities Exchange Act of 1934
(the ``Act''),\8\ in general, and Section 6(b)(5) of the Act,\9\ in
particular, in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and, in general to protect investors and the
public interest. Additionally, the Exchange believes the proposed rule
change is consistent with the Section 6(b)(5) \10\ requirement that the
rules of an exchange not be designed to permit unfair discrimination
between customers, issuers, brokers, or dealers.
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    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
    \10\ Id.
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    In particular, the Exchange believes the proposed rule change will
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 because it will provide market
participants with a more efficient process to transfer open positions
between their accounts in accordance with their own business and
trading needs, including to respond to then-current market conditions.
Because these transfers would not result in a change in ownership or
reduction in open interest, the Exchange believes the proposed rule
change remains consistent with the purpose of Rule 7160, which was to
prohibit the use of off-floor transfer procedure in circumvention of
the normal auction process, as the normal auction process involves the
opening and closing of positions through a transaction among multiple
market participants. Market participants may maintain different
accounts for a variety of reasons, such as the structure of their
businesses, the manner in which they trade, their risk management
procedures, and for capital purposes. Given that these transfers may
occur on a regular basis in accordance with a market participants'
business needs and procedures, the Exchange believes prior written
notice would be onerous and would not serve any purpose given the lack
of change in ownership and in open interest. Therefore, the proposed
rule change will benefit investors by permitting market participants to
manage their open positions in their accounts in a manner consistent
with their businesses.
    The Exchange recognizes the numerous benefits of executing options
transactions on an exchange, including price transparency, potential
price improvement, and a clearing guarantee. However, the Exchange
believes it is appropriate to permit position transfers among accounts
of the same individual or legal entity where there is no impact on open
interest to occur off the exchange, as these benefits are inapplicable
to those transfers. These transfers have a narrow scope and are
intended to permit market participants to achieve their own business
needs. These transfers are not intended to be a competitive trading
tool. There is no need for price discovery or improvement, as the
transfer merely moves positions to different accounts for the same
Person and does not open or close any positions. These transfers will
result in no change in ownership. The transactions that resulted in
open positions to be transferred pursuant to Rule 7160(a)(2) were
already guaranteed by a clearing member of The Options Clearing
Corporation (``OCC''), and the positions may not be closed pursuant to
the transfer and will continue to be subject to OCC rules, as they will
continue to be held in an account with an OCC clearing member.

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. In this regard and as indicated
above, the Exchange notes that the rule change is being proposed as a
response to a filing submitted by Cboe.\11\ The proposed rule change is
not intended to address competitive issues. The Exchange does not
believe that the proposed rule change will impose any burden on
intramarket competition that is not necessary or appropriate in
furtherance of the purposes of the Act because the

proposed rule change will apply to all market participants in the same
manner. All market participants will be able to effect off-floor
position transfers pursuant to Rule 7160(a)(2) on a recurring or
routine basis without providing the Exchange with notice of such
transfers. The Exchange does not believe the proposed rule change will
impose any burden on intermarket competition that is not necessary or
appropriate in furtherance of the purposes of the Act because it
relates solely to the notice required for off-floor transfers that may
occur today, and the frequency with which those transfers may occur.
These transfers will continue to not result in a change in ownership or
netting, and thus will have no impact on outstanding options positions.
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    \11\ See supra note 5.
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C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

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

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \12\ and Rule 19b-
4(f)(6) thereunder.\13\
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    \12\ 15 U.S.C. 78s(b)(3)(A).
    \13\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give 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.
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    A proposed rule change filed under Rule 19b-4(f)(6) \14\ normally
does not become operative for 30 days after the date of the filing.
However, pursuant to Rule 19b-4(f)(6)(iii),\15\ the Commission may
designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay to so that it may
adopt the proposed position transfer rules as soon as possible which,
according to the Exchange, would benefit investors and the general
public because it will provide Participants with the ability to request
a transfer, for limited, non-recurring types of transfers, without the
need for exposing those orders on the Exchange. The proposed rule
change does not present any unique or novel regulatory issues and is
substantively identical to provisions in Cboe Rule 6.7. Accordingly,
the Commission hereby waives the operative delay and designates the
proposal operative upon filing.\16\
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    \14\ 17 CFR 240.19b-4(f)(6).
    \15\ 17 CFR 240.19b-4(f)(6)(iii).
    \16\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission will institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.

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-BOX-2020-35 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-BOX-2020-35. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-BOX-2020-35 and should be submitted on
or before September 21, 2020.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\17\
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    \17\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2020-19052 Filed 8-28-20; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: October 21, 2005 (Volume 70, Number 203)]
[Notices]
[Page 61277]
[DOCID:fr21oc05-71]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. RP06-23-000]

Viking Gas Transmission Company; Notice of Tariff Filing

October 17, 2005.
    Take notice that on October 11, 2005, Viking Gas Transmission
Company (Viking) tendered for filing to become part of Viking's FERC
Gas Tariff, First Revised Volume No. 1, Fifth Revised Sheet No. 143, to
become effective November 10, 2005.
    Viking states that the purpose of this filing is to revise Viking's
Tariff to update the telephone and facsimile numbers for the Electronic
Communication Agreement.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211 and 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed in accordance with the provisions of
Section 154.210 of the Commission's regulations (18 CFR 154.210).
Anyone filing an intervention or protest must serve a copy of that
document on the Applicant. Anyone filing an intervention or protest on
or before the intervention or protest date need not serve motions to
intervene or protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov.
 Persons unable to file electronically should submit an

original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the

``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For

TTY, call<PHONE_NUMBER>.

Magalie R. Salas,
Secretary.
[FR Doc. E5-5838 Filed 10-20-05; 8:45 am]

BILLING CODE 6717-01-P


27071 Federal Register / Vol. 68, No. 96 / Monday, May 19, 2003 / Notices EDOCKET. For further information about the electronic docket, see EPA's Federal Register notice describing the electronic docket at 67 FR 38102 ( May 31, 2002), or go to www. epa. gov/ edocket. Title: Drinking Water State Revolving Fund Program ( OMB Control Number 2040   0185, EPA ICR Number 1803.04). This is a request to renew an existing approved collection that is scheduled to expire on June 30, 2003. Under OMB regulations, the Agency may continue to conduct or sponsor the collection of information while this submission is pending at OMB. Abstract: The Safe Drinking Water Act ( SDWA) Amendments of 1996 ( Pub. L. 104   182) authorize the creation of Drinking Water State Revolving Fund ( DWSRF) programs in each State and Puerto Rico to assist public water systems to finance the costs of infrastructure needed to achieve or maintain compliance with SDWA requirements and to protect public health. Section 1452 authorizes the Administrator of EPA to award capitalization grants to the States and Puerto Rico which, in turn, provide lowcost loans and other types of assistance to eligible drinking water systems ( i. e., local respondents). The information collection activities will occur primarily at the program level through the Capitalization Grant Application and Agreement/ State Intended Use Plan, Biennial Report, Annual Audit, and Assistance Application Review. Information from these sources may be used for input into the DWSRF National Information Management System. In order to receive a grant, the State must prepare a Capitalization Grant Application that includes an Intended Use Plan ( IUP) outlining in detail how it will use funds in the program. The Capitalization Grant Agreement is the principal instrument by which the State commits to manage its revolving fund program in conformity with the requirements of the SDWA. The State must agree to complete and submit a Biennial Report on the uses of the capitalization grant. The Biennial Report indicates how the State has met its goals and objectives of the previous two fiscal years as stated in the grant agreement, and more specifically in the IUP. The report provides information on loan recipients, loan amounts, loan terms, project categories of eligible costs, and similar data on other forms of assistance. A State must comply with the provisions of the Single Audit Act Amendments of 1996. Best management practices suggest and EPA recommends that a State conduct an annual independent audit of its DWSRF program ( including set asides), which contains an opinion on the financial condition of the DWSRF program, a report on its internal controls, and a report on compliance with applicable laws and the SDWA. Because States provide assistance to local applicants, States assist local applicants in preparing DWSRF loan applications and verify that proposed projects will comply with applicable Federal and State requirements. EPA will use the Capitalization Grant Application/ State Intended Use Plan, Biennial Report, Annual Audit, and DWSRF National Information Management System to help conduct its oversight responsibilities as mandated by the SDWA. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. The OMB control numbers for EPA's regulations are listed in 40 CFR part 9 and 48 CFR chapter 15, and are identified on the form and/ or instrument, if applicable. Burden Statement: The annual public reporting and recordkeeping burden for this collection of information is estimated to average 1,652 hours per State and 80 hours per local respondent ( including Indian Tribes and Alaska Native Tribes) annually. Burden means 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. This includes the time needed to review instructions; develop, acquire, install, and utilize technology and systems for the purposes of collecting, validating, and verifying information, processing and maintaining information, and disclosing and providing information; adjust the existing ways to comply with any previously applicable instructions and requirements; train personnel to be able to respond to a collection of information; search data sources; complete and review the collection of information; and transmit or otherwise disclose the information. Respondents/ Affected Entities: State and local governments and local respondents. Estimated Number of Respondents: 1,428. Frequency of Response: Annually and biennially. Estimated Total Annual Hour Burden: 194,395. Estimated Total Annual Cost: $ 6,898,416, includes $ 0 annualized capital or O& M costs. Changes in the Estimates: There is an increase of 1,445 hours in the total estimated burden currently identified in the OMB Inventory of Approved ICR Burdens. This increase is attributed to the increase in the estimated number of respondents participating in the DWSRF program. The increase in the number of respondents reflects the stabilizing of activities in the DWSRF program. The previous ICR included lower estimates for the earlier years to compensate for the program's early start up phase.

Dated: May 6, 2003. Doreen Sterling, Acting Director, Collection Strategies Division. [ FR Doc. 03   12479 Filed 5   16   03; 8: 45 am]

BILLING CODE 6560   50   P ENVIRONMENTAL PROTECTION AGENCY [ OPPT   2003   0022; FRL   7309   3]

Forum on State and Tribal Toxics Action; Notice of Public Meeting AGENCY: Environmental Protection Agency ( EPA). ACTION: Notice.

SUMMARY: EPA is announcing the meeting of the Forum on State and Tribal Toxics Action ( FOSTTA) to collaborate on environmental protection and pollution prevention issues. The Tribal Affairs Project and representatives and invited guests of the Pollution Prevention Project, components of FOSTTA, will be meeting on June 4   5, 2003. The meeting is being held to provide the members of the two projects an opportunity to interact fully and to have in depth discussions on the state of the art pollution prevention approaches used to develop and operate the Mohegan Sun Facility and on other pollution prevention issues. This notice announces the location and times for the meeting and sets forth some tentative agenda topics. EPA invites all interested parties to attend the public meeting. DATES: The two projects will meet jointly June 4   5, 2003, from 8: 30 a. m. to 5 p. m. Requests to participate in the spring FOSTTA meeting, identified by docket ID number OPPT   2003   0022, must be received by EPA on or before May 29, 2003. ADDRESSES: The meeting will be held at the Mohegan Sun, 1 Mohegan Sun Boulevard, Uncasville, CT. Requests to participate in the meeting may be submitted to Christine Eppstein, listed under FOR FURTHER INFORMATION VerDate Jan< 31> 2003 20: 04 May 16, 2003 Jkt 200001 PO 00000 Frm 00062 Fmt 4703 Sfmt 4703 E:\ FR\ FM\ 19MYN1. SGM 19MYN1 RECEIVED OPPT NCIC 2003 MAY19 6: 33AM OPPT 2003 0022 0001 27072 Federal Register / Vol. 68, No. 96 / Monday, May 19, 2003 / Notices CONTACT. Follow the detailed instructions as provided in Unit III. of the SUPPLEMENTARY INFORMATION. FOR FURTHER INFORMATION CONTACT: For general information contact: Barbara Cunningham, Director, Environmental Assistance Division ( 7408M), Office of Pollution Prevention and Toxics, Environmental Protection Agency, 1200 Pennsylvania Ave., NW., Washington, DC 20460   0001; telephone number: ( 202) 554   1404; e mail address: TSCAHotline epa. gov. For technical information contact: Darlene Harrod, Environmental Assistance Division ( 7408M), Office of Pollution Prevention and Toxics, Environmental Protection Agency, 1200 Pennsylvania Ave., NW., Washington, DC 20460   0001; telephone number: ( 202) 564   8814; fax number: ( 202) 564   8813; e mail address: harrod. darlene@ epa. gov. Christine Eppstein, Environmental Council of the States, 444 North Capitol Street, NW., Suite 445, Washington, DC 20001; telephone number: ( 202) 624   3661; fax number: ( 202) 624   3666; email address: ceppstein@ sso. org. SUPPLEMENTARY INFORMATION:

I. General Information A. Does this Action Apply to Me?

You may be potentially affected by this action if you are interested in FOSTTA and hearing more about the perspectives of the states and tribes on EPA programs and information exchange regarding important issues related to human health and environmental exposure to toxics. Potentially affected entities may include, but are not limited to:   States and federally recognized tribes.   State, federal, local environmental, and public health organizations. The listing is not intended to be exhaustive, but rather provides a guide for readers regarding entities likely to be affected by this action. If you have any questions regarding the applicability of this action to a particular entity, consult the technical persons listed under FOR FURTHER INFORMATION CONTACT.

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

1. Docket. EPA has established an official public docket for this action under docket ID number OPPT   2003   0022. The official public docket consists of the documents specifically referenced in this action, any public comments received, and other information related to this action. Although a part of the official docket, the public docket does not include Confidential Business Information ( CBI) or other information whose disclosure is restricted by statute. The official public docket is the collection of materials that is available for public viewing at EPA's Docket Center, Rm. B102 Reading Room, EPA West, 1301 Constitution Ave., NW., Washington, DC. EPA's Docket Center is open from 8: 30 a. m. to 4: 30 p. m., Monday through Friday, excluding legal holidays. EPA's Docket Center Reading Room telephone number is ( 202) 566   1744, and the telephone number for the OPPT Docket, which is located in EPA Docket Center, is ( 202) 566   0280. 2. Electronic access. You may access this Federal Register document electronically through EPA's Internet under the `` Federal Register'' listings at http:// www. epa. gov/ fedrgstr/. An electronic version of the public docket is available through EPA's electronic public docket and comment system, EPA Dockets. You may use EPA's Dockets at http:// www. epa. gov/ edocket/ to submit or view public comments, access the index listing of the contents of the official public docket, and to access those documents in the public docket that are available electronically. Although not all docket materials may be available electronically, you may still access any of the publicly available docket materials through the docket facility identified in Unit II. 1. Once in the system, select `` search,'' then key in the appropriate docket ID number.

C. How Can I Request to Participate in this Meeting? You may submit a request to participate in this meeting to Christine Eppstein, the technical person listed under FOR FURTHER INFORMATION CONTACT. Do not submit any information in your request that is considered Confidential Business Information ( CBI). Requests to participate in the meeting, identified by docket ID number OPPT   2003   0022, must be received on or before May 29, 2003.

II. Background The Toxic Substances Control Act, 15 U. S. C. 2609 section 10( g), authorizes EPA and other federal agencies to establish and coordinate a system for exchange among federal, state, and local authorities of research and development results respecting toxic chemical substances and mixtures, including a system to facilitate and promote the development of standard data format and analysis and consistent testing procedures. Through FOSTTA, the Chemical Information and Management Project ( CIMP) focuses on EPA's chemical program and works to develop a more coordinated effort involving federal, state, and tribal agencies. The Pollution Prevention Project ( P2) promotes the prevention ethic across society, helping companies incorporate P2 approaches and techniques and integrating P2 into mainstream environmental activities at both the federal level and among the states. The Tribal Affairs Project ( TAP) concentrates on chemical and prevention issues that are most relevant to the tribes, including lead control and abatement, Tribal traditional/ subsistence lifeways, hazard communications, and outreach. FOSTTA's vision is to reinvigorate the projects, focus on major policy level issues, recruit more senior state and tribal leaders, increase outreach to all 50 states, some 560 federally recognized tribes, and vigorously seek ways to engage the states and tribes in ongoing substantive discussions on complex and often times controversial environmental issues that states and tribes resolve at their respective levels of government. In January 2002, the Environmental Council of the States ( ECOS), in cooperation with the National Tribal Environmental Council ( NTEC), was awarded the new FOSTTA cooperative agreement. ECOS, NTEC, and EPA's Office of Pollution Prevention and Toxics ( OPPT) are co sponsoring the meetings. As part of a cooperative agreement, ECOS facilitates on going efforts of the state and tribal leaders and OPPT to increase understanding and improve collaboration on toxics and pollution prevention issues and to continue a dialogue on how federal environmental programs can best be implemented among the states, tribes, and EPA.

III. The Meeting In the interest of time and efficiency, the meetings are structured to provide maximum opportunity for state, tribal, and EPA participants to discuss items on the predetermined agenda. At the discretion of the chair, an effort will be made to accommodate participation by observers attending the proceedings. The FOSTTA representatives and EPA will collaborate on environmental protection and prevention issues. The tentative agenda items identified by the states and the tribes follow:   Overview of the Mohegan Sun Facility and the P2 approaches used in its development and operation.   Technology transfer discussion.   P2Rx Pollution Prevention information currently available.   Discussion of tribal needs and P2Rx resources or potential products.   OPPTS tribal strategy.

VerDate Jan< 31> 2003 20: 04 May 16, 2003 Jkt 200001 PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 E:\ FR\ FM\ 19MYN1. SGM 19MYN1 27073 Federal Register / Vol. 68, No. 96 / Monday, May 19, 2003 / Notices 1 Copies of the Minutes of the Federal Open Market Committee meeting on March 18, 2003, which includes the domestic policy directive issued at the meeting, are available upon request to the Board of Governors of the Federal Reserve System, Washington, D. C. 20551. The minutes are published in the Federal Reserve Bulletin and in the Board's annual report. List of Subjects Environmental protection, Pollution prevention.

Dated: May 9, 2003. Clarence O. Lewis, III, Acting Director, Environmental Assistance Division, Office of Pollution Prevention and Toxics.

[ FR Doc. 03   12482 Filed 5   16   03; 8: 45 am]

BILLING CODE 6560   50   S FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Bank Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 ( 12 U. S. C. 1841 et seq.) ( BHC Act), Regulation Y ( 12 CFR Part 225), and all other applicable statutes and regulations to become a bank holding company and/ or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company and all of the banks and nonbanking companies owned by the bank holding company, including the companies listed below. The applications listed below, as well as other related filings required by the Board, are available for immediate inspection at the Federal Reserve Bank indicated. The application also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the standards enumerated in the BHC Act ( 12 U. S. C. 1842( c)). If the proposal also involves the acquisition of a nonbanking company, the review also includes whether the acquisition of the nonbanking company complies with the standards in section 4 of the BHC Act ( 12 U. S. C. 1843). Unless otherwise noted, nonbanking activities will be conducted throughout the United States. Additional information on all bank holding companies may be obtained from the National Information Center website at www. ffiec. gov/ nic/. Unless otherwise noted, comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than June 12, 2003. A. Federal Reserve Bank of Minneapolis ( Richard M. Todd, Vice President and Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 55480 0291: 1. JDOB, Inc., Sandstone, Minnesota; to acquire at least 80 percent of the voting shares of First National Bank of Hinkley, Hinkley, Minnesota, a de novo bank. Board of Governors of the Federal Reserve System, May 13, 2003. Robert deV. Frierson, Deputy Secretary of the Board. [ FR Doc. 03   12365 Filed 5   16   03; 8: 45 am]

BILLING CODE 6210   01   S FEDERAL RESERVE SYSTEM Federal Open Market Committee; Domestic Policy Directive of March 18, 2003 In accordance with § 271.25 of its rules regarding availability of information ( 12 CFR part 271), there is set forth below the domestic policy directive issued by the Federal Open Market Committee at its meeting held on March 18, 2003.1 The Federal Open Market Committee seeks monetary and financial conditions that will foster price stability and promote sustainable growth in output. To further its long   run objectives, the Committee in the immediate future seeks conditions in reserve markets consistent with maintaining the federal funds rate at an average of around 11  4 percent. By order of the Federal Open Market Committee, May 13, 2003.

Vincent R. Reinhart, Secretary, Federal Open Market Committee. [ FR Doc. 03   12393 Filed 5   16   03; 8: 45 am]

BILLING CODE 6210   01   S DEPARTMENT OF HEALTH AND HUMAN SERVICES Agency for Healthcare Research and Quality Study Section Meetings   Change of Dates and Time With this notice, the Agency for Healthcare Research and Quality informs the public of the change of date and time for two meetings. The original notice of these meetings was published in the Federal Register on April 15, 2003, Volume 68, Number 72, Page 18210. Below are the changes for the two meetings highlighted in bold.   Name of Subcommittee: Health Care Technology and Decision Sciences Date: June 4   5, 2003 ( Open from 6: 30 p. m. to 6: 45 p. m. on June 4 and closed for remainder of the meeting) Place: Doubletree Hotel, 1750 Rockville Pike, Conference Room TBD, Rockville, Maryland 20852   Name of Subcommittee: Health Care Quality and Effectiveness Research Date: June 18   19, 2003 ( Open from 6: 30 p. m. to 6: 45 p. m. on June 18 and closed for remainder of the meeting) Place: Doubletree Hotel, 1750 Rockville Pike, Conference Room TBD, Rockville, Maryland 20852 Agenda items for these meetings are subject to change as priorities dictate.

Dated: May 8, 2003. Carolyn M. Clancy, Director [ FR Doc. 03   12461 Filed 5   16   03; 8: 45 am]

BILLING CODE 4160   90   M DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Disease Control and Prevention [ Program Announcement 03065]

Building Capacity for Population Based Surveillance of Autism Spectrum Disorders and Other Developmental Disabilities; Notice of Availability of Funds Application Deadline: July 18, 2003.

A. Authority and Catalog of Federal Domestic Assistance Number This program is authorized under sections 301, 311 and 317( C) of the Public Health Service Act, ( 42 U. S. C. 241, 243 and 247b   4 as amended). The Catalog of Federal Domestic Assistance number is 93.283.

B. Purpose The Centers for Disease Control and Prevention ( CDC) announces the availability of fiscal year ( FY) 2003 funds for a cooperative agreement program for Building Capacity for Population Based Surveillance of Autism Spectrum Disorders ( ASDs) and other Developmental Disabilities ( DDs). CDC is committed to achieving the health promotion and disease prevention objectives of `` Healthy People 2010.'' This announcement is related to the focus area of Maternal, Infant and Child Health. The purpose of this program is to enhance the capacity to design and implement population based, multiplesource surveillance for ASDs and other DDs to include children who are eight years of age.

VerDate Jan< 31> 2003 20: 04 May 16, 2003 Jkt 200001 PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 E:\ FR\ FM\ 19MYN1. SGM 19MYN1


[Federal Register Volume 86, Number 92 (Friday, May 14, 2021)]
[Notices]
[Pages 26558-26560]
[FR Doc No: 2021-10171]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91803; File No. SR-CboeEDGX-2021-025]

Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice
of Filing of a Proposed Rule Change Relating to the Exchange's Process
for Re-Opening Securities Listed on Other National Securities Exchanges
Following the Resumption of Trading After a Halt, Suspension, or Pause
During the Early Trading Session, Pre-Opening Session, or Post-Closing
Session

May 10, 2021.
    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 April 26, 2021, Cboe EDGX Exchange, Inc. (``Exchange'' or ``EDGX'')
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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes a rule change to amend the Exchange's process
for re-opening securities listed on other national securities exchanges
following the resumption of trading after a halt, suspension, or pause
during the Early Trading Session, Pre-Opening Session, or Post-Closing
Session.
    The text of the proposed rule change is also available on the
Exchange's website (http://markets.cboe.com/us/options/regulation/rule_filings/edgx/), at the Exchange's Office of the Secretary, and at
the Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of the proposed rule change is to amend the Exchange's
process for re-opening securities listed on other national securities
exchanges following the resumption of trading after a halt, suspension,
or pause during the Early Trading Session,\3\ Pre-Opening Session,\4\
or Post-Closing Session.\5\ EDGX Rule 11.7 describes the Exchange's
opening process for securities listed on other national securities
exchanges, including the process for re-opening such securities
following the resumption of trading after a halt, suspension, or pause.
On November 5, 2020, the Exchange filed a proposed rule change to amend
its re-opening process pursuant to EDGX Rule 11.7 for securities listed
on the New York Stock Exchange LLC (``NYSE'') following the resumption
of trading after a halt, suspension, or pause during the Early Trading
Session, Pre-Opening Session, or Post-Closing Session.\6\ That filing
was approved by the Commission on December 28, 2020.\7\ The Exchange
now proposes to further amend EDGX Rule 11.7 to adopt a harmonized re-
opening process for securities listed on NYSE (``Tape A''), securities
listed on exchanges other than The Nasdaq Stock Market LLC (``Nasdaq'')
and NYSE (``Tape B''); and securities listed on Nasdaq (``Tape C'')
following the resumption of trading after a halt, suspension, or pause
during the Early Trading Session, Pre-Opening Session, or Post-Closing
Session. The Exchange believes that the proposed harmonized process for
Tape A, B, and C securities would simplify its procedures and provide a
more effective re-opening process for securities that resume trading
outside of Regular Trading Hours.\8\ The Exchange also proposes to make
non-substantive changes to Rule 11.7 to conform the text to Cboe BZX
Exchange, Inc. (``BZX'') Rule 11.24.
---------------------------------------------------------------------------

    \3\ The term ``Early Trading Session'' means the time between
7:00 a.m. and 8:00 a.m. Eastern Time. See EDGX Rule 1.5(ii).
    \4\ The term ``Pre-Opening Session'' means the time between 8:00
a.m. and 9:30 a.m. Eastern Time. See EDGX Rule 1.5(s).
    \5\ The term ``Post-Closing Session'' means the time between
4:00 p.m. and 8:00 p.m. Eastern Time. See EDGX Rule 1.5(r).
    \6\ See Securities Exchange Act Release No. 90422 (November 13,
2020), 85 FR 73816 (November 19, 2020) (SR-CboeEDGX-2020-055).
    \7\ See Securities Exchange Act Release No. 90804 (December 28,
2020), 86 FR 158 (January 4, 2021) (Approval Order).
    \8\ The term ``Regular Trading Hours'' means the time between
9:30 a.m. and 4:00 p.m. Eastern Time. See EDGX Rule 1.5(y).
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    As amended pursuant to SR-CboeEDGX-2020-055, EDGX Rule 11.7(e)(3)
provides that during the Early Trading Session, Pre-Opening Session, or
Post-Closing Session, Tape A securities that resume trading after a
halt, suspension, or pause will be automatically re-opened pursuant to
the Exchange's contingent open procedures, as described in EDGX Rule
11.7(d), after one second has passed following the Exchange's receipt
of the first NBBO following such resumption of trading. This rule was
adopted to automate the prior manual process that would otherwise be
used to initiate the re-opening of Tape A securities when NYSE was not
open for trading. Consistent with that intent, the Exchange proposed to
continue to re-open Tape A securities using the same contingent open
procedures that would apply when the Exchange manually initiated its
re-opening process pursuant to EDGX Rule 11.7(e)(2). As a result, when
the Exchange re-opens Tape A securities during pre- and post-market
trading sessions today, orders are handled in time sequence and placed
on the EDGX Book, routed, cancelled, or executed in accordance with the
terms of the order. This differs from the standard processed used by
the Exchange during Regular Trading Hours, where the Exchange seeks to
execute queued orders at the midpoint of the national best bid or offer
(``NBBO'').\9\ After additional consideration, the Exchange believes
that market participants and investors would be better served by
utilizing its standard midpoint re-opening in these circumstances as
doing so would promote greater consistency with the process used by the
Exchange in other circumstances and may generally

provide executions that better reflect the applicable market for the
security.
---------------------------------------------------------------------------

    \9\ See EDGX Rule 11.7(e)(1).
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    The Exchange therefore proposes to amend EDGX Rule 11.7(e) such
that the process for re-opening Tape A securities after the Exchange
has determined to initiate a re-opening would generally mirror the
standard process described in EDGX Rule 11.7(e)(1), which as discussed
is designed to provide an execution at the midpoint of the NBBO. The
determination of whether to re-open such Tape A securities would,
however, continue to follow the process discussed in SR-CboeEDGX-2020-
055. Thus, during the Early Trading Session, Pre-Opening Session, or
Post-Closing Session, the re-opening process for Tape A securities
would occur at the midpoint of the NBBO after one second has passed
following the Exchange's receipt of the first NBBO following the
resumption of trading after a halt, suspension, or pause. Although the
Exchange has determined to use a midpoint re-opening process similar to
that currently described in EDGX Rule 11.7(e)(1), for the reasons
discussed in SR-CboeEDGX-2020-055, it remains important that the
trigger for initiating this process outside of Regular Trading Hours
not be tied to the resumption of trading on the primary listing market
as NYSE does not trade its listed securities at times when the Exchange
is open for pre- and post-market trading.
    In addition, the Exchange proposes to amend the process for re-
opening Tape B and C securities to mirror the proposed process for Tape
A securities, except that the Exchange would require the primary
listing market to have begun quoting the security before it initiates
its own re-opening process. As explained in SR-CboeEDGX-2020-055, the
Exchange amended EDGX Rule 11.7 to permit Tape A securities listed on
NYSE to re-open based on quoting activity on other national securities
exchanges during pre- and post-market trading when NYSE does not trade
its listed securities. However, this limitation does not exist for Tape
B or C securities as the applicable primary listing markets for those
securities each offer pre- and post-market trading sessions where
market participants can trade their listed securities.\10\ As a result,
the Exchange believes that it is desirable for Tape B and C securities
to be opened on the Exchange only after the primary listing exchange
has begun trading its listed securities, consistent with the current
EDGX Rule 11.7(e), which would continue to be applied during Regular
Trading Hours. However, similar to the proposed process for re-opening
Tape A securities, the Exchange would simplify the triggers for re-
opening trading pursuant to EDGX Rule 11.7(e)(1) such that its re-
opening process for Tape B and C securities during the Early Trading
Session, Pre-Opening Session, and Post-Closing Session would occur at
the midpoint of the NBBO after one second has passed following the
publication of the first two-sided quotation by the listing exchange
following the resumption of trading after a halt, suspension, or pause.
In its effort to simplify the re-opening process employed during these
timeframes, the Exchange would not retain a separate trigger to allow
the re-opening process to be initiated immediately when the Exchange
receives both a two-sided quotation and a trade from the listing
exchange.
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    \10\ See Nasdaq Rules, Equity 1, Section 1(a)(9); NYSE Arca,
Inc. Rule 7.34-E(a); NYSE American LLC Rule 7.34E(a).
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    The Exchange also proposes to make a number of structural changes
to EDGX Rule 11.7(e) to facilitate the amendments described above, and
non-substantive changes to conform the rule text to BZX Rule 11.24.
First, the Exchange proposes to structure EDGX Rule 11.7(e)(1) such
that it would contain subparagraphs (A), (B), and (C), which each would
describe applicable differences between the Exchange's opening process
at the beginning of the Regular Trading Session, as described in EDGX
Rule 11.7(a)(2) and (b), and the re-opening process employed by the
Exchange after a halt. As amended, EDGX Rule 11.7(e)(1)(A) would
describe the types of orders that are eligible for participation in the
re-opening process. Further, the Exchange proposes to amend the text of
the paragraph to partially conform to BZX Rule 11.24(e)(1). As
proposed, EDGX Rule 11.7(e)(1)(A) would state that non-RHO \11\ orders
will be eligible for participation in the Re-Opening Process, but
IOC,\12\ FOK,\13\ EDGX Post Only Orders,\14\ and Minimum Execution
Quantity Orders \15\ will be cancelled or rejected, as applicable, and
any ISO \16\ that is not IOC or FOK will be converted into a non-ISO
and be queued for participation in the Re-Opening Process.
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    \11\ See Exchange Rule 11.6(q)(6) Regular Hours Only (``RHO'').
    \12\ See Exchange Rule 11.6(q)(1) Immediate-or-Cancel (``IOC'').
    \13\ See Exchange Rule 11.6(q)(3) Fill-or-Kill (``FOK'').
    \14\ See Exchange Rule 11.6(n)(4).
    \15\ See Exchange Rule 11.6(h).
    \16\ See Exchange Rule 11.8(c) Intermarket Sweep Order
(``ISO'').
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    As amended, EDGX Rule 11.7(e)(2)(B) would describe the Exchange's
current re-opening process, which the Exchange now proposes to limit to
Regular Trading Hours. Further, the Exchange proposes to partially
conform EDGX Rule 11.7(e)(2)(B)(ii) with BZX Rule BZX Rule 11.24(e)(1).
Specifically, as amended EDGX Rule 11.7(e)(2)(B)(ii) would provide that
during Regular Trading Hours, the Re-Opening Process will occur at the
(i) first NBBO subsequent to the first reported trade and first two-
sided quotation on the listing exchange following the resumption of
trading after a halt, suspension, or pause; or (ii) NBBO when the first
two-sided quotation published by the listing exchange following the
resumption of trading after a halt, suspension, or pause if no first
trade is reported by the listing exchange within one second of
publication of the first two-sided quotation by the listing exchange.
    As proposed, EDGX Rule 11.7(e)(2) would contain language discussed
above that describes the Exchange's re-opening process during the Early
Trading Session, Pre-Opening Session, or After Hour Trading Session,
i.e., for Tape A, B, and C securities.\17\
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    \17\ The Exchange would also eliminate EDGX Rule 11.7(e)(3),
which currently addresses the re-opening of Tape A securities listed
on NYSE during pre- and post-market trading. As discussed, the
Exchange is proposing to harmonize the process for re-opening Tape
A, B, and C securities outside of Regular Trading Hours, and the
harmonized process discussed in this proposed rule change would be
described in EDGX Rule 11.7(e)(2)(C).
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    Lastly, the Exchange proposes to amend EDGX Rule 11.7(e)(2) to
reflect the changes discussed above. As amended, the lead in to EDGX
Rule 11.7(e)(2) would state that this section applies where the
conditions required to establish the price of the re-opening process in
the now restructured EDGX Rule 11.7(e)(1)(B) or (C) have not occurred,
which reflects the now renumbered sections of the rule, including
language that is in current EDGX Rule 11.7(e)(1) and EDGX Rule
11.7(e)(3).\18\
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    \18\ The Exchange would also eliminate language that states that
this section applies when the security has not otherwise been re-
opened for trading on the Exchange pursuant to EDGX Rule 11.7(e)(3).
As discussed, the content of EDGX Rule 11.7(e)(3) would be moved to
EDGX Rule 11.7(e)(1)(C) with further amendments as discussed herein.
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2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
the requirements of Section 6(b) of the Act,\19\ in general, and
Section 6(b)(5) of the Act,\20\ in particular, in that it is designed
to remove impediments to and perfect the mechanism of a free and

open market and a national market system, to promote just and equitable
principles of trade, and, in general, to protect investors and the
public interest and not to permit unfair discrimination between
customers, issuers, brokers, or dealers. The Exchange believes that the
proposed rule change is consistent with the protection of investors and
the public interest as it would implement a streamlined process for re-
opening Tape A, B, and C securities during the Early Trading Session,
Pre-Opening Session, or Post-Closing Session.
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    \19\ 15 U.S.C. 78f(b).
    \20\ 15 U.S.C. 78f(b)(5).
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    The Exchange currently employs different processes for re-opening
Tape A, B, and C securities during pre- and post-market trading. The
Exchange believes, however, that market participants would be better
served by a harmonized process that: (1) Ensures that the Exchange's
automated re-opening process executes orders at the midpoint of the
NBBO; and (2) eliminates unnecessary distinctions between the process
utilized for Tape A, B, and C securities. Executing the Exchange's re-
opening process during pre- and post-market trading at the midpoint of
the NBBO is beneficial to market participants as the NBBO midpoint may
more closely reflect market prices and conditions for the security
being re-opened. As a result, the Exchange believes that using the NBBO
midpoint to price its re-opening process for all securities would help
to promote a fair and orderly market. In addition, using generally
consistent triggers for initiating the Exchange's re-opening process in
Tape A, B, and C securities that resume trading during pre- and post-
market trading sessions would reduce the overall complexity of the re-
opening process employed during these timeframes. The Exchange notes,
however, that it would nevertheless require the primary listing market
to begin trading its own securities prior to re-opening trading on the
Exchange in Tape B and C securities. This limitation would not apply to
Tape A securities that NYSE does not trade outside of its regular
trading session as doing so would require unnecessary and inefficient
manual intervention by the Exchange to manually initiate trading, as
was the case prior to the filing and Commission approval of SR-
CboeEDGX-2020-055. The Exchange believes that this distinction
continues to be appropriate as it is based on applicable differences
between each primary listing market's hours of operation and would
continue to promote a more streamlined automated process for initiating
the re-opening process in Tape A securities at times when NYSE does not
trade its own listed securities.
    The Exchange believes the proposed structural changes and non-
substantive amendments to Rule 11.7(e)(1) will simplify the Exchange's
rules and harmonize the text to the corresponding BZX rule.

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

    The Exchange does not believe that the proposed rule change would
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed rule change is
designed to facilitate a more efficient and harmonized re-opening
process for all securities that resume trading outside of Regular
Trading Hours, and is not designed to address any competitive issues.
All members would have their orders handled in the same manner based on
the proposed changes to the Exchange's re-opening process, and other
national securities exchanges are free to adopt the same or similar
processes if they believe that the proposed process is beneficial for
their own members. The Exchange therefore does not believe that the
proposed rule change would have any significant impact 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 solicited or received on the proposed rule
change.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the Exchange consents, the Commission will:
    A. By order approve or disapprove such proposed rule change, or
    B. institute proceedings to determine whether the proposed rule
change should be 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-CboeEDGX-2021-025 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-CboeEDGX-2021-025. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly.
    All submissions should refer to File Number SR-CboeEDGX-2021-025
and should be submitted on or before June 4, 2021.
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    \21\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\21\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-10171 Filed 5-13-21; 8:45 am]
BILLING CODE 8011-01-P