[Federal Register Volume 84, Number 36 (Friday, February 22, 2019)]
[Notices]
[Pages 5739-5743]
[FR Doc No: 2019-03039]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-85155; File No. SR-MIAX-2018-36]

Self-Regulatory Organizations; Miami International Securities
Exchange, LLC; Notice of Filing of Amendment No. 1 and Order Granting
Accelerated Approval of a Proposed Rule Change, as Modified by
Amendment No. 1, To Amend MIAX Rule 518, Complex Orders

February 15, 2019.

I. Introduction

    On November 9, 2018, Miami International Securities Exchange, LLC
(``Exchange'' or ``MIAX'') filed with the Securities and Exchange
Commission (``Commission''), pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4
thereunder,\2\ a proposed rule change to make several changes to MIAX
Rule 518, ``Complex Orders.'' The proposed rule change was published
for comment in the Federal Register on November 23, 2018.\3\ On
December 21, 2018, pursuant to Section 19(b)(2) of the Act,\4\ the
Commission designated a longer period within which to approve the
proposed rule change, disapprove the proposed rule change, or institute
proceedings to determine whether to approve or disapprove the proposed
rule change.\5\

On February 13, 2019, the Exchange filed Amendment No. 1 to the
proposed rule change.\6\ The Commission has received no comments
regarding the proposal. The Commission is publishing this notice to
solicit comment on Amendment No. 1 to the proposed rule change from
interested persons and is approving the proposed rule change, as
modified by Amendment No. 1, on an accelerated basis.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 84613 (Nov. 16,
2018), 83 FR 59435 (``Notice'').
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 84950, 83 FR 67758
(December 31, 2018). The Commission designated February 21, 2019, as
the date by which the Commission shall approve or disapprove, or
institute proceedings to determine whether to approve or disapprove,
the proposed rule change.
    \6\ Amendment No. 1 revises the proposal to (1) clarify the rule
describing the operation of the proposed Complex Liquidity Exposure
Period (``cLEP'') Auction and provide an additional example
demonstrating the operation of the proposed cLEP Auction; (2)
provide additional rationale for eliminating the Defined Time Period
for the Complex Auction and make representations regarding system
capability and surveillance with respect to the Complex Auction, as
modified by the proposal; (3) indicate that the Auction Timer for
MIAX's cPRIME Auction will remain at 100 milliseconds; and (4)
clarify the discussion of the proposed change to the Calendar Spread
Variance Price Protection. Amendment No. 1 is available at https://www.sec.gov/comments/sr-miax-2018-36/srmiax201836-4932160-178431.pdf.
---------------------------------------------------------------------------

II. Description of the Proposed Rule Change, as Modified by Amendment
No. 1

    As described more fully in the Notice,\7\ the proposal amends MIAX
Rule 518 to (1) establish a new Complex Liquidity Exposure Process
(``cLEP Auction'') for Complex Orders and make corresponding changes to
the Complex MIAX Price Collar (``MPC'') price protection feature; (2)
eliminate the Defined Time Period and revise the Response Time Interval
for the Complex Auction; (3) provide that the Calendar Spread Variance
(``CSV'') Price Protection applies only to American-style option
classes; and (4) add the Liquidity Exposure Process as a Simple Market
Auction or Timer (``SMAT'') Event.\8\
---------------------------------------------------------------------------

    \7\ See note 3, supra.
    \8\ The Liquidity Exposure Process was approved in a separate
proposal. See Securities Exchange Release No. 85147 (February 15,
2019) (order approving File No. SR-MIAX-2018-35) (``LEP Filing'').
---------------------------------------------------------------------------

cLEP Auction

    Under the proposal, MIAX's System \9\ will initiate a cLEP Auction
whenever a complex order or eQuote would execute or post at a price
that would violate its MPC Price.\10\ The System will post the complex
order or eQuote to the Strategy Book at its MPC Price and begin the
cLEP Auction by broadcasting a liquidity exposure message to all
subscribers of the Exchange's data feeds.\11\ The liquidity exposure
message will include the symbol, side of the market, auction start
price (the MPC Price of the complex order or eQuote), and the imbalance
quantity.\12\ Members may respond to the liquidity exposure message
during the Response Time Interval.\13\ Responses, which may be in $0.01
increments, must be a cAOC order or a cAOC eQuote, and may be submitted
on either side of the market.\14\ Responses represent non-firm interest
that can be withdrawn at any time prior to the end of the Response Time
Interval.\15\ At the end of the Response Time Interval, responses are
firm (i.e., guaranteed at the response price and size).\16\ Any
responses not executed in full will expire at the end of the cLEP
Auction.\17\
---------------------------------------------------------------------------

    \9\ The System is the automated trading system used by the
Exchange for the trading of securities. See MIAX Rule 100.
    \10\ See Amendment No. 1. The MPC price protection feature is an
Exchange-wide price protection mechanism under which a complex order
or eQuote to sell will not be displayed or executed at a price that
is lower than the opposite side cNBBO bid at the time the MPC is
assigned by the System (i.e., upon receipt or upon opening) by more
than a specific dollar amount expressed in $0.01 increments (the
``MPC Setting''), and under which a complex order or eQuote to buy
will not be displayed or executed at a price that is higher than the
opposite side cNBBO offer at the time the MPC is assigned by the
System by more than the MPC Setting (each the ``MPC Price''). See
MIAX Rule 518, Interpretation and Policy .05(f). See Notice, 83 FR
at 59437, and Amendment No. 1 for examples of the operation of the
proposed cLEP Auction.
    \11\ See proposed MIAX Rule 518(e).
    \12\ See id.
    \13\ The duration of the Response Time Interval will be no less
than 100 milliseconds and no more than 5,000 milliseconds, as
determined by the Exchange and announced through a Regulatory
Circular. See id.
    \14\ See id. A Complex Auction-or-Cancel or ``cAOC'' order is a
complex limit order used to provide liquidity during a specific
Complex Auction with a time in force that corresponds with that
event. cAOC orders are not displayed to any market participant, and
are not eligible for trading outside of the event. A cAOC order with
a size greater than the aggregate auctioned size (as defined in MIAX
Rule 518(d)(4)) will be capped for allocation purposes at the
aggregate auctioned size. See MIAX Rule 518(b)(3). A ``Complex
Auction or Cancel eQuote'' or ``cAOC eQuote,'' is an eQuote
submitted by a Market Maker that is used to provide liquidity during
a specific Complex Auction with a time in force that corresponds
with the duration of the Complex Auction. A cAOC eQuote with a size
greater than the aggregate auctioned size (as defined in MIAX Rule
518(d)(4)) will be capped for allocation purposes at the aggregate
auctioned size. cAOC eQuotes will not: (i) Be executed against
individual orders and quotes resting on the Simple Order Book; (ii)
be eligible to initiate a Complex Auction, but may join a Complex
Auction in progress; (iii) rest on the Strategy Book; or (iv) be
displayed. See MIAX Rule 518, Interpretation and Policy .02(c)(1).
    \15\ See id.
    \16\ See id.
    \17\ See id. A response on the opposite side of the initiating
order with a size greater than the aggregate size of interest at the
same price on the same side of the market as the initiating order
(the ``aggregate auctioned size'') will be capped for allocation
purposes at the aggregate auctioned size. See id. and Amendment No.
1.
---------------------------------------------------------------------------

    At the conclusion of the cLEP Auction the resulting trade price
will be determined, and interest will execute, as described in MIAX
Rule 518(d)(6).\18\ The resulting trade price will never be more
aggressive than the MPC Price.\19\ Liquidity remaining at the
conclusion of the cLEP Auction with an original limit price that is (i)
less aggressive (lower for a buy order or eQuote, or higher for a sell
order or eQuote) than or equal to the MPC Price will be handled in
accordance with MIAX Rule 518(c)(2)(ii)-(v), or (ii) more aggressive
than the MPC Price will be subject to the reevaluation process.\20\
Orders and eQuotes executed in a cLEP Auction will be allocated first
in price priority based upon their original limit price, and thereafter
in accordance with the Complex Auction allocation procedures described
in MIAX Rule (d)(7)(i)-(vi).\21\
---------------------------------------------------------------------------

    \18\ See proposed MIAX Rule 518(e) and Amendment No. 1.
    \19\ See proposed MIAX Rule 518(e) and Amendment No. 1.
    \20\ See id.
    \21\ See proposed MIAX Rule 518(e).
---------------------------------------------------------------------------

    At the start of the Reevaluation process, the System will calculate
the next potential MPC Price for remaining auction liquidity with an
original limit price more aggressive than the existing MPC Price.\22\
The next MPC Price will be calculated as the MPC Price plus (minus) the
next MPC increment for buy (sell) orders (the ``New MPC Price'').\23\
The System will initiate a cLEP Auction for liquidity that would
execute or post at a price that would violate its New MPC Price.\24\
Liquidity with an original limit price less aggressive (lower for a buy
order or eQuote, or higher for a sell order or eQuote) than or equal to
the New MPC Price will be posted to the Strategy Book at its original
limit price or handled in accordance with MIAX Rule (c)(2)(ii)-(v).\25\
The cLEP process will continue until no liquidity remains with an
original limit price that is more aggressive than its MPC Price.\26\ At
the

conclusion of the cLEP process, any liquidity that has not been
executed will be posted to the Strategy Book at its original limit
price.\27\
---------------------------------------------------------------------------

    \22\ See proposed MIAX Rule 518(e) and Amendment No. 1.
    \23\ See id.
    \24\ See id.
    \25\ See id.
    \26\ See id. The proposal makes technical corrections to the MPC
Price protection provisions in MIAX Rule 518, Interpretation and
Policy .05(f) to incorporate changes associated with the proposed
cLEP Auction process. Because the MPC Price of certain complex
orders and eQuotes may change as a result of the cLEP Reevaluation
process, the proposal deletes Interpretation and Policy .05(f)(4),
which states that the MPC Price of a complex order or eQuote will
not change during the life of the complex order or eQuote. The
proposal renumbers the remaining subparagraphs in paragraph (f) to
reflect the elimination of subparagraph (4). The proposal also
revises Interpretation and Policy .05(f)(6)(A) to provide that any
unexecuted portion of a market order or a complex order or eQuote
priced more aggressively than its MPC Price will be subject to the
cLEP Auction process, rather than cancelled if it would otherwise be
displayed or executed at a price outside its MPC Price. See Notice,
83 FR at 59437-8.
    \27\ See id. MIAX notes that a Member who believes that an
execution has occurred at an erroneous price may avail itself of the
protections provided in MIAX Rule 521, ``Nullification and
Adjustment of Options Transactions Including Obvious Errors.'' See
id. at n. 29.
---------------------------------------------------------------------------

    MIAX notes that the proposed cLEP Auction process provides an
additional price discovery opportunity for orders and eQuotes that
would trade through their MPC Price.\28\ MIAX believes that it is in
the best interest of a Member to seek liquidity for the unexecuted
portion of an order that exceeds its MPC Price rather than cancelling
any unexecuted portion of the order back to the Member.\29\
---------------------------------------------------------------------------

    \28\ See id. at 59438.
    \29\ See id.
---------------------------------------------------------------------------

Complex Auction

    Currently, MIAX provides a single-sided Complex Auction
functionality, as described in MIAX Rule 518, and a cPRIME Auction for
paired complex orders, as described in MIAX Rule 515A, Interpretation
and Policy .12.\30\ The proposal makes related changes to the Defined
Time Period and the Response Time Interval of the Complex Auction. MIAX
Rule 518(d)(2) states that the System will not commence a Complex
Auction within a defined time period prior to the end of the trading
session (the ``Defined Time Period'') established by the Exchange.\31\
MIAX Rule 518(d)(3) defines the Response Time Interval as the period of
time during which Complex Auction responses (i.e., responses to the
Request for Responses message) may be entered.\32\ The proposal removes
references to the Defined Time Period from MIAX Rules 518(b)(2)(i) and
(d)(2).\33\ The proposal amends MIAX Rule 518(d)(3) to state that the
end of the trading session will also serve as the end of the Response
Time Interval for a Complex Auction still in progress. The proposal
makes no changes to the cPRIME Auction, and the cPRIME Timer will
remain at 100 milliseconds.\34\
---------------------------------------------------------------------------

    \30\ See id. at 59436 and Amendment No. 1.
    \31\ MIAX notes that the Defined Time Period currently is 2,000
milliseconds, while the duration of a Complex Auction is 200
milliseconds. See Notice, 83 FR at 59436.
    \32\ MIAX notes that the Response Time Interval currently is set
to 200 milliseconds. See id. at n. 10. See also MIAX Regulatory
Circular 2016-46.
    \33\ MIAX Rule 518(b)(2)(i) states, in part, that a Complex
Auction-on-Arrival (``cAOA'') Order received during the Defined Time
Period will not initiate a new Complex Auction.
    \34\ See Amendment No. 1.
---------------------------------------------------------------------------

    MIAX notes that under its current rules there is no opportunity for
price improvement via a Complex Auction when there is less than two
seconds left in the trading session.\35\ MIAX believes that removing
the Defined Time Period and allowing the end of the trading session to
serve as the end of the Response Time Interval when a Complex Auction
is initiated with less than 200 milliseconds left in the trading
session will allow for more opportunities for price improvement via the
auction process.\36\ In this regard, MIAX notes that Members responding
to Complex Auctions are able to do so in less than 10 milliseconds.\37\
In addition, MIAX states that if a Member initiates a Complex Auction
and no Members respond, the initiating Member is no worse off under the
proposed rule than the Member would have been under MIAX's current
rule, which prevents the Member from even attempting to initiate a
Complex Auction with less than two seconds left in the trading
session.\38\ MIAX notes that a Member who initiates a Complex Auction
will not forego the opportunity to trade with unrelated interest
received during the Complex Auction because unrelated interest is
included in the Complex Auction.\39\
---------------------------------------------------------------------------

    \35\ See Notice, 83 FR at 59436.
    \36\ See id.
    \37\ See Amendment No. 1.
    \38\ See Notice, 83 FR at 59438, and Amendment No. 1.
    \39\ See Amendment No. 1 and MIAX Rule 518(d)(8).
---------------------------------------------------------------------------

    MIAX represents that is has the System capacity and capability to
conduct auctions and execute transactions in a timely fashion at any
time during the trading session, including the last two seconds of the
trading session.\40\ MIAX further represents that it has surveillances
in place to surveil for conduct that violates the Exchange's rules,
specifically as they pertain to Complex Auctions as described in the
proposal.\41\
---------------------------------------------------------------------------

    \40\ See id.
    \41\ See id. MIAX notes that MIAX Rule 518, Interpretation and
Policy .04, ``Dissemination of Information,'' remains in effect for
any Complex Auction-eligible order submitted to MIAX at any time.
See Amendment No. 1. MIAX Rule 518, Interpretation and Policy .04
provides that dissemination of information related to Complex
Auction-eligible orders by the submitting Member to third parties
will be deemed conduct inconsistent with just and equitable
principles of trade as described in Rule 301.
---------------------------------------------------------------------------

CSV Price Protection

    The proposal amends MIAX Rule 518, Interpretation and Policy .05(b)
to indicate that the CSV Price Protection applies only to strategies in
American-style option classes.\42\ MIAX notes that the CSV establishes
a minimum trading price limit for Calendar Spreads of zero minus the
preset value of $.10, thereby ensuring that a Calendar Spread does not
trade more than $.10 away from its intrinsic value.\43\ MIAX states
that an American-style option must be worth at least as much as its
intrinsic value because the holder of the option can realize the
intrinsic value by immediately exercising the option.\44\ In a Calendar
Spread strategy comprised of American-style options, other things being
equal, the far month should be worth more than the near month due to
its having a longer time to expiration and therefore a greater time
value.\45\ MIAX states that because European-style options may be
exercised only on their expiration date, the relationship between the
stock price, option price, and option strike price that exists for
American-style options does not exist for European-style options.\46\
Accordingly, MIAX states that the CSV Price Protection would be
ineffective for strategies comprised of European-style options.\47\
---------------------------------------------------------------------------

    \42\ See proposed MIAX Rule 518, Interpretation and Policy
.05(b)(3).
    \43\ See Notice, 83 FR at 59438.
    \44\ See id.
    \45\ See Amendment No. 1.
    \46\ See Notice, 83 FR at 59438.
    \47\ See id.
---------------------------------------------------------------------------

SMAT Event

    As described more fully in the Notice, MIAX Rule 518(a)(16)
currently defines a SMAT Event as any one of the following: A MIAX
Price Improvement Mechanism (``PRIME'') Auction (pursuant to Exchange
Rule 515A), a Route Timer (pursuant to Exchange Rule 529), or a
liquidity refresh pause (pursuant to Exchange Rule 515(c)(2).\48\ If a
SMAT Event exists during free trading for an option component of a
complex strategy, trading in the complex strategy will be
suspended.\49\ MIAX notes that the temporary suspension of trading in
complex orders during a SMAT Event is intended to enhance continuity,
trade-through protection, and orderliness in the simple market and to
protect complex order components from being executed at prices that
could improve following a SMAT Event.\50\ The proposal amends MIAX Rule
518(a)(16) to add the Liquidity Exposure Process, as described in MIAX
Rule 515(c)(2), as a

SMAT Event.\51\ The Liquidity Exposure Process will apply to an order
in a Proprietary Product that would be posted, managed, or would trade
at a price more aggressive than the order's protected price.\52\
---------------------------------------------------------------------------

    \48\ See id.
    \49\ See MIAX Rule 518, Interpretations and Policies
.05(e)(2)(i) and Notice, 83 FR at 59436.
    \50\ See id.
    \51\ See id. at 59435-6. In addition to adding the Liquidity
Exposure Process to MIAX Rule 518(a)(16), MIAX proposes to correct
an internal cross reference in MIAX Rule 518(a)(16)(iii) to reflect
changes included in the LEP Filing. See Notice, 83 FR at 59436.
    \52\ The term ``Proprietary Product'' means a class of options
that is listed exclusively on the Exchange. See Notice, 83 FR at
59436. See also LEP Filing, supra note 8.
---------------------------------------------------------------------------

III. Discussion and Commission Findings

    After careful review, 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
and, in particular, with Section 6(b) of the Act.\53\ In particular,
the Commission finds that the proposed rule change is consistent with
Section 6(b)(5) of the Act,\54\ which requires, among other things,
that the rules of a national securities exchange be designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to foster cooperation and coordination
with persons engaged in regulating, clearing, settling, processing
information with respect to, and facilitating transactions in
securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system, and, in general, to
protect investors and the public interest.
---------------------------------------------------------------------------

    \53\ 15 U.S.C. 78f(b). In approving this proposed rule change,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
    \54\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Commission believes that the cLEP Auction is designed to
potentially benefit market participants by providing price improvement
opportunities for complex orders and eQuotes that are priced more
aggressively than their MPC Price. In addition, the Commission believes
that Members' ability to submit cLEP Auction responses on either side
of the market potentially could enhance liquidity in the cLEP Auction
and provide execution opportunities for trading interest on both sides
of the market.
    The Commission believes that eliminating the Defined Time Period
and allowing Members to initiate a single-sided Complex Auction at any
time prior to the close could potentially provide price improvement
opportunities for complex orders submitted within two seconds of the
close. As noted above, MIAX represents that it has the system capacity
and capability to conduct Complex Auctions and execute transactions
that occur within two seconds of the close, and that it has
surveillance in place to monitor conduct that violates MIAX's rules,
including MIAX Rule 518, Interpretation and Policy .04, which prohibits
a submitting Member from disseminating information with respect to
Complex Auction-eligible orders to third parties.\55\ MIAX states that
a Member who initiates a Complex Auction will not forego the
opportunity to trade with unrelated interest received during the
Complex Auction because this interest is included in the Complex
Auction.\56\ The Commission notes that proposal does not modify the
Auction Timer for MIAX's paired order cPRIME Auction, which will remain
at 100 milliseconds.\57\
---------------------------------------------------------------------------

    \55\ See notes 39-40, supra, and accompanying text.
    \56\ See note 38, supra, and accompanying text.
    \57\ See note 33, supra, and accompanying text.
---------------------------------------------------------------------------

    As noted above, MIAX states that the CSV Price Protection would be
ineffective for Calendar Spreads comprised of European-style options
because the relationship between the stock price, the option price, and
the option strike price that exists for American-style options does not
exist for European-style options.\58\ Accordingly, the proposal limits
the CSV Price Protection to strategies in American-style option
classes. The Commission believes that applying the CSV Price Protection
solely to Calendar Spreads comprised of American-style options is
reasonable in that this price protection will be applied to orders for
which it is meaningful to do so.
---------------------------------------------------------------------------

    \58\ See notes 45-46, supra, and accompanying text.
---------------------------------------------------------------------------

IV. Solicitation of Comments on Amendment No. 1 to the Proposed Rule
Change

    Interested persons are invited to submit written data, views, and
arguments concerning whether Amendment No. 1 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-MIAX-2018-36 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-MIAX-2018-36. 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-MIAX-2018-36, and should be submitted on
or before March 15, 2019.

V. Accelerated Approval of Proposed Rule Change, as Modified by
Amendment No. 1

    The Commission finds good cause to approve the proposed rule
change, as modified by Amendment No. 1, prior to the thirtieth day
after the date of publication of notice of the filing of Amendment No.
1 in the Federal Register. As noted above, Amendment No. 1 revises the
proposal to (1) clarify the rule describing the operation of the
proposed cLEP Auction and provide an additional example demonstrating
the operation of the proposed cLEP Auction; (2) provide additional
rationale for eliminating the Defined Time Period for the Complex
Auction and make representations regarding system capability and
surveillance with respect to the Complex Auction, as modified by

the proposal; (3) indicate that the Auction Timer for MIAX's cPRIME
Auction will remain at 100 milliseconds; and (4) clarify the discussion
of the proposed change to the Calendar Spread Variance Price
Protection. The Commission believes that Amendment No. 1 does not raise
any novel regulatory issues. The Commission also believes that
Amendment No. 1 provides additional clarity to the rule text and
additional analysis and representations concerning several aspects of
the proposal, thereby facilitating the Commission's ability to make the
findings set forth above to approve the proposal. Accordingly, the
Commission finds good cause, pursuant to Section 19(b)(2) of the
Act,\59\ to approve the proposed rule change, as modified by Amendment
No. 1, on an accelerated basis.
---------------------------------------------------------------------------

    \59\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

VI. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\60\ that the proposed rule change (SR-MIAX-2018-36), as modified
by Amendment No. 1, is approved on an accelerated basis.
---------------------------------------------------------------------------

    \60\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\61\

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

    \61\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-03039 Filed 2-21-19; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: June 11, 2009 (Volume 74, Number 111)]
[Notices]
[Page 27783-27784]
[DOCID:fr11jn09-49]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. P-13301-002]

Town of Afton; Notice of Application Accepted for Filing and
Soliciting Motions To Intervene and Protests

June 4, 2009.
    Take notice that the following hydroelectric application has been
filed with the Commission and is available for public inspection.
    a. Type of Application: Minor.
    b. Project No.: P-13301-002.
    c. Date filed: April 29, 2009.
    d. Applicant: Town of Afton.
    e. Name of Project: Culinary Water System Hydroelectric Project.
    f. Location: On the culinary water supply system, in the Town of
Afton, Lincoln County, Wyoming. The project would occupy 12.3 acres of
land in the Bridger-Teton National Forest.
    g. Filed Pursuant to: Federal Power Act, 16 U.S.C. 791(a)-825(r).
    h. Applicant Contact: James K. Sanderson, Town of Afton, 416
Washington St., P.O. Box 310, Afton, WY 83110.
    i. FERC Contact: Ryan Hansen,<PHONE_NUMBER><EMAIL_ADDRESS>    j. Deadline for filing motions to intervene and protests: 60 days
from the issuance date of this notice.
    All documents (original and eight copies) should be filed with:
Kimberly D. Bose, Secretary, Federal Energy Regulatory Commission, 888
First Street, NE., Washington, DC 20426.
    The Commission's Rules of Practice and Procedures require all
intervenors filing documents with the Commission to serve a copy of
that document on each person on the official service list for the
project. Further, if an intervenor files comments or documents with the
Commission relating to the merits of an issue that may affect the
responsibilities of a particular resource agency, they must also serve
a copy of the document on that resource agency.
    Motions to intervene and protests and may be filed electronically
via the Internet in lieu of paper. The Commission strongly encourages
electronic filings. See 18 CFR 385.2001(a)(1)(iii) and the instructions
on the Commission's Web site (http://www.ferc.gov/docs-filing/
ferconline.asp) under the ``e-filing'' link. For a simpler method of
submitting text only comments, click on ``Quick Comment.''
    k. This application has been accepted for filing, but is not ready
for environmental analysis at this time.
    l. The project would consist of the following facilities: (1) An
intake at Periodic Springs; (2) an existing 97,000 gallon buried
concrete surge tank; (3) an existing 16,775-foot-long, 18-inch-diameter
iron ductile pipe; (4) a new approximately 95-foot-long, 2-foot-
diameter ductile iron penstock conveying flows from the existing pipe
to the new powerhouse; (5) a 20-foot-long by 20-foot-wide powerhouse
containing a single Pelton turbine and generator with an installed
capacity of 225 kilowatts; (6) an approximately 10-foot-long, 2.5-foot-
diameter draft tube discharging flows from the powerhouse to an
existing access hatchway at the top of the storage tank; and (7)
appurtenant facilities. The power generated at the project would
intertie with the existing 12.5-kilovolt distribution system at the
culinary water treatment plant.
    m. A copy of the application is available for review at the
Commission in the Public Reference Room or may be viewed on the
Commission's Web site at 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. For assistance, contact
FERC

Online Support at<EMAIL_ADDRESS>or toll-free at 1-866-208-
3676, or for TTY,<PHONE_NUMBER>. A copy is also available for
inspection and reproduction at the address in item h above.
    You may also register online at http://www.ferc.gov/docs-filing/
esubscription.asp to be notified via e-mail of new filings and
issuances related to this or other pending projects. For assistance,
contact FERC Online Support.
    n. Any qualified applicant desiring to file a competing application
must submit to the Commission, on or before the specified intervention
deadline date, a competing development application, or a notice of
intent to file such an application. Submission of a timely notice of
intent allows an interested person to file the competing development
application no later than 120 days after the specified intervention
deadline date. Applications for preliminary permits will not be
accepted in response to this notice.
    A notice of intent must specify the exact name, business address,
and telephone number of the prospective applicant, and must include an
unequivocal statement of intent to submit a development application. A
notice of intent must be served on the applicant(s) named in this
public notice.
    Anyone may submit a protest or a motion to intervene in accordance
with the requirements of Rules of Practice and Procedure, 18 CFR
385.210, 385.211, and 385.214. In determining the appropriate action to
take, the Commission will consider all protests filed, but only those
who file a motion to intervene in accordance with the Commission's
Rules may become a party to the proceeding. Any protests or motions to
intervene must be received on or before the specified deadline date for
the particular application.
    When the application is ready for environmental analysis, the
Commission will issue a public notice requesting comments,
recommendations, terms and conditions, or prescriptions.
    All filings must (1) bear in all capital letters the title
``PROTEST'' or ``MOTION TO INTERVENE,'' ``NOTICE OF INTENT TO FILE
COMPETING APPLICATION,'' or ``COMPETING APPLICATION;'' (2) set forth in
the heading the name of the applicant and the project number of the
application to which the filing responds; (3) furnish the name,
address, and telephone number of the person protesting or intervening;
and (4) otherwise comply with the requirements of 18 CFR 385.2001
through 385.2005. Agencies may obtain copies of the application
directly from the applicant. A copy of any protest or motion to
intervene must be served upon each representative of the applicant
specified in the particular application.

Kimberly D. Bose,
Secretary.
[FR Doc. E9-13673 Filed 6-10-09; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 84, Number 100 (Thursday, May 23, 2019)]
[Rules and Regulations]
[Pages 23720-23721]
[FR Doc No: 2019-10765]

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

DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket No. USCG-2019-0229]

Recurring Safety Zone; Wheeling Annual Dragon Boat Race,
Wheeling, WV

AGENCY: Coast Guard, DHS.

ACTION: Notice of enforcement of regulation.

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

SUMMARY: The Coast Guard will enforce the safety zone for the Wheeling
Annual Dragon Boat Race to provide for the safety of persons, vessels,
and the marine environment on the navigable waters of the Ohio River
during this event. Our regulation for marine events within the Eighth
Coast Guard District identifies the regulated area for this event in
Wheeling, WV. During the enforcement periods, entry into this zone is
prohibited unless authorized by the Captain of the Port Marine Safety
Unit Pittsburgh or a designated representative.

DATES: The regulations in 33 CFR 165.801, Table 1, Line 70, will be

enforced from 8 a.m. through 2 p.m. August 24, 2019.

FOR FURTHER INFORMATION CONTACT: If you have questions about this
notice of enforcement, call or email Petty Officer Jennifer Haggins,
Marine Safety Unit Pittsburgh, U.S. Coast Guard; telephone 412-221-
0807, email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The Coast Guard will enforce a safety zone
for the Wheeling Annual Dragon Boat Race in 33 CFR 165.801, Table 1,
Line 70, from 8 a.m. through 2 p.m. on August 24, 2019. This action is
being taken to provide for the safety of persons, vessels, and the
marine environment on the navigable waters of the Ohio River during
this event. Our regulation for marine events within the Eighth Coast
Guard District, Sec.  165.801 specifies the location of the regulated
area for the Wheeling Annual Dragon Boat Race. Entry into the regulated
area is prohibited unless authorized by the Captain of the Port Marine
Safety Unit Pittsburgh (COTP) or a designated representative. Persons
or vessels desiring to enter into or pass through the regulated area
must request permission from the COTP or a designated representative.
They can be reached on VHF FM channel 16. If permission is granted, all
persons and vessels shall comply with the instructions of the COTP or
designated representative.
    In addition to this notice of enforcement in the Federal Register,
the COTP or a designated representative will inform the public through
Broadcast Notices to Mariners (BNMs), Local Notices to Mariners (LNMs),
Marine Safety Information Bulletins (MSIBs), and/or through other means
of public notice as appropriate at least 24 hours in advance of each
enforcement.

    Dated: May 13, 2019.
A.W. Demo,
Commander, U.S. Coast Guard, Captain of the Port Marine Safety Unit
Pittsburgh.
[FR Doc. 2019-10765 Filed 5-22-19; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register Volume 82, Number 116 (Monday, June 19, 2017)]
[Notices]
[Page 27948]
[FR Doc No: 2017-12723]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Agency Information Collection Activities: Requests for Comments;
Clearance of Renewed Approval of Information Collection: Certification
Procedures for Products and Parts

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice and request for comments.

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

SUMMARY: In accordance with the Paperwork Reduction Act of 1995, FAA
invites public comments about our intention to request the Office of
Management and Budget (OMB) approval to renew a previously approved
information collection. 14 CFR part 21 prescribes certification
standards for aircraft, aircraft engines, propellers appliances and
parts. The information collected is used to determine compliance and
applicant eligibility. The respondents are aircraft parts designers,
manufacturers, and aircraft owners.

DATES: Written comments should be submitted by August 18, 2017.

ADDRESSES: Send comments to the FAA at the following address: Ronda
Thompson, Federal Aviation Administration, ASP-110, 800 Independence
Ave. SW., Washington, DC 20591.

FOR FURTHER INFORMATION CONTACT: Ronda Thompson email at:
<EMAIL_ADDRESS>phone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:
    Public Comments Invited: You are asked to comment on any aspect of
this information collection, including (a) Whether the proposed
collection of information is necessary for FAA's performance; (b) the
accuracy of the estimated burden; (c) ways for FAA to enhance the
quality, utility and clarity of the information collection; and (d)
ways that the burden could be minimized without reducing the quality of
the collected information. The agency will summarize and/or include
your comments in the request for OMB's clearance of this information
collection.
    OMB Control Number: 2120-0018.
    Title: Certification Procedures for Products and parts.
    Form Numbers: FAA Forms 8110-12, 8130-1, 8130-6, 8130-9, 8130-12.
    Type of Review: Renewal of an information collection.
    Background: 14 CFR part 21 prescribes certification standards for
aircraft, aircraft engines, propellers appliances and parts. The
information collected is used to determine compliance and applicant
eligibility. FAA Airworthiness inspectors, designated inspectors,
engineers, and designated engineers review the required data submittals
to determine that aviation products and articles and their
manufacturing facilities comply with the applicable requirements, and
that the products and articles have no unsafe features.
    Respondents: Approximately 13,339 aircraft parts designers,
manufacturers, and aircraft owners.
    Frequency: On occasion.
    Estimated Average Burden per Response: 30 minutes.
    Estimated Total Annual Burden: 19,487 hours.

    Issued in Washington, DC, on June 5, 2017.
Ronda L. Thompson,
FAA Information Collection Clearance Officer, Performance, Policy, and
Records Management Branch, ASP-110.
[FR Doc. 2017-12723 Filed 6-16-17; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register: April 9, 2007 (Volume 72, Number 67)]
[Notices]
[Page 17549-17550]
[DOCID:fr09ap07-71]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP07-81-000]

Petal Gas Storage, L.L.C.; Notice of Intent To Prepare an
Environmental Assessment for the Proposed Petal No. 3 Compressor
Station Project and Request for Comments on Environmental Issues

April 3, 2007.
    The staff of the Federal Energy Regulatory Commission (FERC or
Commission) will prepare an environmental assessment (EA) that will
discuss the environmental impacts of the Petal No. 3 Compressor Station
Project, involving construction and operation of facilities by Petal
Gas Storage, L.L.C. (Petal) in Forrest County, Mississippi. The EA will
be used by the Commission in its decision-making process to determine
whether or not to authorize the project.
    This notice announces the opening of the scoping period that will
be used to gather environmental input from the public and interested
agencies on the project. Your input will help the Commission staff
determine which issues need to be evaluated in the EA. Please note that
the scoping period will close on May 3, 2007.
    An effort is being made to send this notice to all individuals,
organizations, Native American Tribes, and government entities
interested in and/or potentially affected by the proposed project. This
includes all landowners who are potential right-of-way grantors, whose
property may be used temporarily for project purposes, or who own homes
within distances defined in the Commission's regulations of certain
aboveground facilities. We encourage government representatives to
notify their constituents of this planned project and encourage them to
comment on their areas of concern.
    A fact sheet prepared by the FERC entitled ``An Interstate Natural
Gas Facility on My Land? What Do I Need to Know?'' was attached to the
project notice provided to landowners. This fact sheet addresses a
number of typically asked questions, including the use of eminent
domain and how to participate in the Commission's proceedings. It is
available for viewing on the FERC Internet Web site (http://www.ferc.gov
).

Summary of the Proposed Project

    Petal proposes to construct a new compressor station consisting of
three 5,000-horsepower, electric-drive compressor units at its existing
Petal Storage Facility in Forrest County, Mississippi. Petal would
construct a new 60-foot by 200-foot building to house the proposed
units and other appurtenant facilities. In addition, a 1,605-foot-long,
20-inch-diameter pipeline would be constructed in order to connect the
proposed compressor station to Petal's existing gas storage
operations.\1\
---------------------------------------------------------------------------

    \1\ Petal's application in Docket No. CP07-81-000 was filed with
the Commission under Section 7 of the Natural Gas Act.
---------------------------------------------------------------------------

    Petal currently has an estimated working storage capacity of 18
billion cubic feet of natural gas in four storage caverns. The Petal
Storage Facility is capable of delivering natural gas into five
interstate pipeline systems. The proposed addition of the Petal No. 3
Compressor Station would allow Petal to utilize the full storage
capacity of the Petal Storage Facility.
    The general location of Petal's proposed facilities is shown on the
map attached as appendix 1.\2\
---------------------------------------------------------------------------

    \2\ The appendices referenced in this notice are not being
printed in the Federal Register. Copies of all appendices, other
than Appendix 1 (map), are available on the Commission's Web site at
the ``eLibrary'' link or from the Commission's Public Reference
Room, 888 First Street, NE., Washington, DC 20426, or call (202)
502-8371. For instructions on connecting to eLibrary refer to the
last page of this notice. Copies of the appendices were sent to all
those receiving this notice in the mail.
---------------------------------------------------------------------------

Land Requirements for Construction

    Construction of the proposed Petal No. 3 Compressor Station Project
would affect a total of about 21.1 acres of land. Following
construction, about 12.1 acres of land would be allowed to revert to
its previous conditions. Disturbance associated with aboveground
facilities would comprise about 6.7 acres of permanently affected land.
A new 1,485-foot-long access road would be constructed surrounding the
compressor station building, permanently disturbing 0.5 acre of land.
    A 75-foot-wide construction right-of-way is proposed for the
associated pipeline. Petal would maintain a 50-foot-wide permanent
right-of-way for operation and maintenance of the proposed facilities.
Permanent disturbance of the pipeline would total about 1.8 acres. All
land that would be affected by the proposed compressor station,
pipeline, and access road is owned by Petal.

The EA Process

    We are preparing the EA to comply with the National Environmental
Policy Act (NEPA) which requires the Commission to take into account
the environmental impacts that could result from an action whenever it
considers the issuance of a Certificate of Public Convenience and
Necessity. NEPA also requires us to discover and address concerns the
public may have about proposals. This process is referred to as
``scoping.'' The main goal of the scoping process is to focus the
analysis in the EA on the important environmental issues. By this
Notice of Intent, the Commission staff requests public comments on the
scope of the issues to address in the EA. All comments received are
considered during the preparation of the EA.
    Our independent analysis of the issues will be in the EA. Depending
on the comments received during the scoping process, the EA may be
published and mailed to Federal, State, and local agencies, public
interest groups, interested individuals, affected landowners,
newspapers and libraries in the project area, and the Commission's
official service list for this proceeding. A comment period will be
allotted for review if the EA is published. We will consider all
comments on the EA before we make our recommendations to the
Commission.

Public Participation

    You can make a difference by providing us with your specific
comments or concerns about the project. By becoming a commenter, your
concerns will be addressed in the EA and considered by the Commission.
Your comments should focus on the potential environmental effects of
the proposal, reasonable alternatives to the proposal (including
alternative locations and routes), and measures to avoid or lessen
environmental impact. The more specific your comments, the more useful

they will be. Please carefully follow these instructions to ensure that
your comments are received in time and properly recorded:
     Send an original and two copies of your letter to: Philis
J. Posey, Acting Secretary, Federal Energy Regulatory Commission, 888
First St., NE., Room 1A, Washington, DC 20426.
     Label one copy of the comments for the attention of Gas
Branch 1;
     Reference Docket No. CP07-81-000;
     Mail your comments so that they will be received in
Washington, DC on or before May 3, 2007.
    Please note that the Commission encourages electronic filing of
comments. See 18 Code of Federal Regulations (CFR) 385.2001(a)(1)(iii)
and the instructions on the Commission's Internet Web site at http://www.ferc.gov
 under the ``eFiling'' link and the link to the User's

Guide. Prepare your submission in the same manner as you would if
filing on paper and save it to a file on your hard drive. Before you
can file comments you will need to create an account by clicking on
``Login to File'' and then ``New User Account.'' You will be asked to
select the type of filing you are making. This filing is considered a
``Comment on Filing.''

Becoming an Intervenor

    In addition to involvement in the EA scoping process, you may want
to become an official party to the proceeding known as an
``intervenor''. Intervenors play a more formal role in the process.
Among other things, intervenors have the right to receive copies of
case-related Commission documents and filings by other intervenors.
Likewise, each intervenor must send one electronic copy (using the
Commission's e-Filing system) or 14 paper copies of its filings to the
Secretary of the Commission and must send a copy of its filings to all
other parties on the Commission's service list for this proceeding. If
you want to become an intervenor you must file a motion to intervene
according to Rule 214 of the Commission's Rules of Practice and
Procedure (18 CFR 385.214). Only intervenors have the right to seek
rehearing of the Commission's decision.
    Affected landowners and parties with environmental concerns may be
granted intervenor status upon showing good cause by stating that they
have a clear and direct interest in this proceeding which would not be
adequately represented by any other parties. You do not need intervenor
status to have your environmental comments considered.

Additional Information

    Additional information about the project is available from the
Commission's Office of External Affairs at 1-866-208 FERC (3372) or on
the FERC Internet Web site (http://www.ferc.gov). Using the

``eLibrary'' link, select ``General Search'' from the eLibrary menu,
enter the selected date range and ``Docket Number'' (i.e., CP07-81-
000), and follow the instructions. For assistance with access to
eLibrary, the helpline can be reached at 1-866-208-3676, TTY (202) 502-
Internet Web site also provides access to the texts of formal documents
issued by the Commission, such as orders, notices, and rule makings.
    In addition, the Commission now offers a free service called
eSubscription which allows you to keep track of all formal issuances
and submittals in specific dockets. This can reduce the amount of time
you spend researching proceedings by automatically providing you with
notification of these filings, document summaries and direct links to
the documents. Go to http://www.ferc.gov/esubscribenow.htm.

Philis J. Posey,
Acting Secretary.
 [FR Doc. E7-6558 Filed 4-6-07; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 82, Number 170 (Tuesday, September 5, 2017)]
[Notices]
[Page 41945]
[FR Doc No: 2017-18714]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER17-2292-000]

Southampton Solar, 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 proceeding of
Southampton Solar, 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 September 18, 2017.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with Internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically should submit an original and
5 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First Street NE., Washington, DC 20426.
    The filings in the above-referenced proceeding are accessible in
the Commission's eLibrary system by clicking on the appropriate link in
the above list. They are also available for electronic 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
email notification when a document is added to a subscribed docket(s).
For assistance with any FERC Online service, please email
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.

    Dated: August 29, 2017.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2017-18714 Filed 9-1-17; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 77, Number 6 (Tuesday, January 10, 2012)]
[Rules and Regulations]
[Page 1406]
[FR Doc No: 2012-172]

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

DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 117

[Docket No. USCG-2011-1158]

Drawbridge Operation Regulations; Northeast Cape Fear River,
Wilmington, NC

AGENCY: Coast Guard, DHS.

ACTION: Notice of temporary deviation from regulations.

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

SUMMARY: The Commander, Fifth Coast Guard District, has issued a
temporary deviation from the regulations governing the operation of the
Isabel S. Holmes Bridge, mile 1.0, across the Northeast Cape Fear
River, at Wilmington, NC. The deviation restricts the operation of the
draw span to facilitate structural, electrical and mechanical upgrades
and repairs of the bridge.

DATES: This deviation is effective from 7 a.m. January 16, 2012, to 11
p.m. April 30, 2012.

ADDRESSES: Documents mentioned in this preamble as being available in
the docket USCG-2011-1158 and are available online by going to http://www.regulations.gov, inserting USCG-2011-1158 in the ``Keywords'' box,
and then clicking ``Search''. This material is also available for
inspection or copying at the Docket Management Facility (M-30), U.S.
Department of Transportation, West Building Ground Floor, Room W12-140,
1200 New Jersey Avenue SE., Washington, DC 20590, between 9 a.m. and 5
p.m., Monday through Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT: If you have questions on this rule,
call or email Mr. Bill H. Brazier, Bridge Management Specialist, Fifth
Coast Guard District, telephone<PHONE_NUMBER>, email
<EMAIL_ADDRESS>If you have questions on reviewing the docket,
call Renee V. Wright, Program Manager, Docket Operations, (202) 366-
9826.

SUPPLEMENTARY INFORMATION: The North Carolina Department of
Transportation, who owns and operates this double-leaf bascule bridge,
has requested a temporary deviation from the current operating
regulations set out in 33 CFR 117.829(a), to facilitate structural,
electrical and mechanical upgrades and repairs of the bridge.
    Under the regular operating schedule, the bridge operates as
follows: The draw will be closed to pleasure craft from 6 a.m. to 6
p.m. every day except at 10 a.m. and 2 p.m. when the draw will open for
all waiting vessels; the draw will open on signal for Government and
commercial vessels at all times; and the draw will open for all vessels
on signal from 6 p.m. to 6 a.m.
    In the closed position to vessels, the Isabel S. Holmes Bridge has
a vertical clearance of 42 feet above mean high water.
    Under this temporary deviation, the drawbridge will be closed to
vessels requiring an opening from 7 a.m. on January 16, 2012 until and
including 11 p.m. on April 30, 2012. However, during the period of
deviation, vessel openings will be provided if at least three hours
advance notice is given to the bridge tender at<PHONE_NUMBER> or via
marine radio on channel 13 VHF.
    Vessels that can pass under the drawbridge without an opening may
do so at all times. There are no alternate routes for vessels
transiting this section of the Northeast Cape Fear River. The
drawbridge will be able to open in the event of an emergency.
    The Coast Guard has coordinated these upgrades and repairs with the
Cape Fear River Pilots Association and will use Local and Broadcast
Notice to Mariners to inform all users of the waterway of the closure
periods for the drawbridge so that vessels can arrange their transits
to minimize any impacts caused by the temporary deviation.
    In accordance with 33 CFR 117.35(e), the drawbridge must return to
its original operating schedule immediately at the end of the
designated time period. This deviation from the operating regulations
is authorized under 33 CFR 117.35.

    Dated: December 22, 2011.
Waverly W. Gregory, Jr.,
Bridge Program Manager, Fifth Coast Guard District.
[FR Doc. 2012-172 Filed 1-9-12; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register: March 26, 2008 (Volume 73, Number 59)]
[Notices]
[Page 16078-16079]
[DOCID:fr26mr08-129]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57530; File No. SR-OPRA-2008-01]

Options Price Reporting Authority; Notice of Filing of Proposed
Amendment to the Plan for Reporting of Consolidated Options Last Sale
Reports and Quotation Information To Adopt New Form of ``Vendor
Affiliate Agreement''

March 19, 2008.
    Pursuant to Section 11A of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given that
on March 3, 2008, the Options Price Reporting Authority (``OPRA'')
submitted to the Securities and Exchange Commission (``Commission'') an
amendment to the Plan for Reporting of Consolidated Options Last Sale
Reports and Quotation Information (``OPRA Plan'').\3\ The proposed OPRA
Plan amendment would adopt a new form of ``Vendor Affiliate Agreement''
that may be used by an affiliate of an OPRA ``Vendor'' that wants also
to become a Vendor. OPRA's Fee Schedule would be modified to state that
OPRA will waive its Redistribution Fee for all affiliates in a
corporate family with which OPRA agrees to Vendor Affiliate Agreements.
The Commission is publishing this notice to solicit comments from
interested persons on the proposed OPRA Plan amendment.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78k-1.
    \2\ 17 CFR 242.608.
    \3\ The OPRA Plan is a national market system plan approved by
the Commission pursuant to Section 11A of the Act and Rule 608
thereunder (formerly Rule 11Aa3-2). See Securities Exchange Act
Release No. 17638 (March 18, 1981), 22 S.E.C. Docket 484 (March 31,
1981). The full text of the OPRA Plan is available at http://
www.opradata.com.
    The OPRA Plan provides for the collection and dissemination of
last sale and quotation information on options that are traded on
the participant exchanges. The seven participants to the OPRA Plan
are the American Stock Exchange LLC, the Boston Stock Exchange,
Inc., the Chicago Board Options Exchange, Incorporated, the
International Securities Exchange, LLC, the NYSE Arca, Inc., the
Philadelphia Stock Exchange, Inc., and the NASDAQ Stock Market LLC.
---------------------------------------------------------------------------

I. Description and Purpose of the Amendment

    The purpose of the proposed amendment to adopt a new form of
``Vendor Affiliate Agreement'' that may be used by an affiliate of an
OPRA ``Vendor'' that wants to also become an OPRA ``Vendor'' and to
specify in OPRA's Fee Schedule that OPRA will waive its
``Redistribution Fee'' for affiliates with which OPRA agrees to Vendor
Affiliate Agreements.
    OPRA's form of Vendor Agreement authorizes only the Vendor itself,
and not any of its affiliates, to disseminate OPRA Data. As a matter of
policy, OPRA has permitted Vendors to disseminate OPRA Data through
wholly-owned subsidiaries. However, OPRA's policy has been not to
permit Vendors to disseminate OPRA Data through other affiliates that
have not themselves signed Vendor Agreements with OPRA. Many Vendors
conduct business through corporate families, for a variety of reasons.
OPRA requires each OPRA Vendor to pay a monthly ``Redistribution Fee,''
\4\ and OPRA has from time to time received requests to alleviate the
financial consequence that OPRA's current policy imposes on some Vendor
families.
---------------------------------------------------------------------------

    \4\ OPRA's Redistribution Fee is currently $650/month for
``Internet service only'' Vendors, and $1,500/month for all other
Vendors.
---------------------------------------------------------------------------

    Accordingly, OPRA is proposing to amend its Fee Schedule to provide
that OPRA will waive its Redistribution Fee for Vendor affiliates that
themselves become Vendors pursuant to ``Vendor Affiliate Agreements,''
and is proposing to adopt a new form of ``Vendor Affiliate Agreement.''
In effect, the form of Vendor Affiliate Agreement is a ``short form''
Vendor Agreement that can be signed by an additional member of a
Vendor's corporate family. The proposed form would require the
additional member of a corporate family to acknowledge that it is
subject to and bound by the terms of the ``lead'' Vendor's Vendor
Agreement just as if it had signed the Agreement itself. The proposed
form is designed so that it can be used by affiliates of a current OPRA
Vendor without any need for the current Vendor to sign a new Vendor
Agreement.\5\
---------------------------------------------------------------------------

    \5\ However, the current Vendor (or a new ``lead'' Vendor) would
be required to identify its affiliate(s) that will sign Vendor
Affiliate Agreements in its ``Description of Vendor's Service''--
Exhibit A to its Vendor Agreement--as in effect from time to time.
The lead Vendor would also be required to describe the dissemination
of OPRA Data by such affiliate(s) in its Exhibit A.
---------------------------------------------------------------------------

    The text of the proposed amendment to the OPRA Plan and the
proposed changes to the OPRA Fee Schedule are available at OPRA, the
Commission's Public Reference Room, and http://opradata.com.

II. Implementation of the OPRA Plan Amendment

    OPRA will begin to use the proposed form of Vendor Affiliate
Agreement upon its approval by the Commission pursuant to Section 11A
of the Act \6\ and Rule 608(b)(1) thereunder.\7\
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78k-1.
    \7\ 17 CFR 242.608(b)(1).
---------------------------------------------------------------------------

III. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed OPRA
Plan amendment 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 No. SR-;OPRA-2008-01 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-OPRA-2008-01. 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 plan amendment that are filed with the
Commission, and all written communications relating to the proposed
plan amendment 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, 100 F Street, NE., Washington, DC
20549, on official business days between the hours of 10 a.m. and 3
p.m. Copies of such filing also will be available for inspection and
copying at the principal office of OPRA. 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-OPRA-2008-01 and should be submitted on
or before April 16, 2008.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(29).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E8-6124 Filed 3-25-08; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 85, Number 106 (Tuesday, June 2, 2020)]
[Notices]
[Pages 33779-33781]
[FR Doc No: 2020-11849]

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

DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

[Docket No. FMCSA-2012-0122; FMCSA-2012-0123; FMCSA-2012-0332; FMCSA-
2013-0122; FMCSA-2013-0124; FMCSA-2015-0327; FMCSA-2017-0057; FMCSA-
2017-0059]

Qualification of Drivers; Exemption Applications; Hearing

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT.

ACTION: Notice of final disposition.

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

SUMMARY: FMCSA announces its decision to renew exemptions for 27
individuals from the hearing requirement in the Federal Motor Carrier
Safety Regulations (FMCSRs) for interstate commercial motor vehicle
(CMV) drivers. The exemptions enable these hard of hearing and deaf
individuals to continue to operate CMVs in interstate commerce.

DATES: Each group of renewed exemptions were applicable on the dates
stated in the discussions below

and will expire on the dates provided below.

FOR FURTHER INFORMATION CONTACT: Ms. Christine A. Hydock, Chief,
Medical Programs Division,<PHONE_NUMBER><EMAIL_ADDRESS>FMCSA,
Department of Transportation, 1200 New Jersey Avenue SE, Room W64-224,
Washington, DC 20590-0001. Office hours are from 8:30 a.m. to 5 p.m.,
ET, Monday through Friday, except Federal holidays. If you have
questions regarding viewing or submitting material to the docket,
contact Docket Operations,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Public Participation

A. Viewing Documents and Comments

    To view comments, as well as any documents mentioned in this notice
as being available in the docket, go to http://www.regulations.gov.
Insert the docket number, FMCSA-2012-0122, FMCSA-2012-0123, FMCSA-2012-
0332, FMCSA-2013-0122, FMCSA-2013-0124, FMCSA-2015-0327, FMCSA-2017-
0057, or FMCSA-2017-0059, in the keyword box, and click ``Search.''
Next, click the ``Open Docket Folder'' button and choose the document
to review. If you do not have access to the internet, you may view the
docket online by visiting the Docket Operations in Room W12-140 on the
ground floor of the DOT West Building, 1200 New Jersey Avenue SE,
Washington, DC 20590, between 9 a.m. and 5 p.m., ET, Monday through
Friday, except Federal holidays. To be sure someone is there to help
you, please call<PHONE_NUMBER> or<PHONE_NUMBER> before visiting
Docket Operations.

B. Privacy Act

    In accordance with 5 U.S.C. 553(c), DOT solicits comments from the
public to better inform its rulemaking process. DOT posts these
comments, without edit, including any personal information the
commenter provides, to www.regulations.gov, as described in the system
of records notice (DOT/ALL-14 FDMS), which can be reviewed at
www.dottransportation.gov/privacy.

II. Background

    On April 6, 2020, FMCSA published a notice announcing its decision
to renew exemptions for 27 individuals from the hearing standard in 49
CFR 391.41(b)(11) to operate a CMV in interstate commerce and requested
comments from the public
    (85 FR 19218). The public comment period ended on May 6, 2020, and
no comments were received.
    FMCSA has evaluated the eligibility of these applicants and
determined that renewing these exemptions would achieve a level of
safety equivalent to, or greater than, the level that would be achieved
by complying with Sec.  391.41(b)(11).
    The physical qualification standard for drivers regarding hearing
found in Sec.  391.41(b)(11) states that a person is physically
qualified to drive a CMV if that person first perceives a forced
whispered voice in the better ear at not less than 5 feet with or
without the use of a hearing aid or, if tested by use of an audiometric
device, does not have an average hearing loss in the better ear greater
than 40 decibels at 500 Hz, 1,000 Hz, and 2,000 Hz with or without a
hearing aid when the audiometric device is calibrated to American
National Standard (formerly ASA Standard) Z24.5--1951.
    This standard was adopted in 1970 and was revised in 1971 to allow
drivers to be qualified under this standard while wearing a hearing
aid, 35 FR 6458, 6463 (April 22, 1970) and 36 FR 12857 (July 3, 1971).

III. Discussion of Comments

    FMCSA received no comments in this proceeding.

IV. Conclusion

    Based upon its evaluation of the 27 renewal exemption applications,
FMCSA announces its decision to exempt the following drivers from the
hearing requirement in Sec.  391.41 (b)(11).
    In accordance with 49 U.S.C. 31136(e) and 31315(b), the following
groups of drivers received renewed exemptions in the month of April and
are discussed below:
    As of April 2, 2020, and in accordance with 49 U.S.C. 31136(e) and
31315(b), the following 15 individuals have satisfied the renewal
conditions for obtaining an exemption from the hearing requirement in
the FMCSRs for interstate CMV drivers (85 FR 19218):

Kathleen Abenchuchan (IA)
Roger Boge (IA)
Johnny Brewer (OH)
Jada Hart (IA)
Sean Hunt (TX)
Paul Klug (IA)
Dayton Lawson, Jr. (MI)
Scott Miller (IA)
Calvin Payne (MD)
Kiley Peterson (IA)
Samuel Sherman (MN)
Darren Talley (NC)
Thomas Warner, II (WA)
Allen Whitener (TX)
Johnny Wu (DE)

    The drivers were included in docket number FMCSA-2013-0124,
    FMCSA-2015-0327, FMCSA-2017-0057, and FMCSA-2017-0059. Their
exemptions are applicable as of April 2, 2020, and will expire on April
2, 2022.
    As of April 21, 2020, and in accordance with 49 U.S.C. 31136(e) and
31315(b), the following seven individuals have satisfied the renewal
conditions for obtaining an exemption from the hearing requirement in
the FMCSRs for interstate CMV drivers (85 FR 19218):
Andrew Alcozer (IL)
Roman Landa (CA)
Darren Nordquist (WI)
Jacob Paullin (WI)
Ryan Pope (CA)
Ronald Rutter (CA)
Russell Smith, (OH)

    The drivers were included in docket number FMCSA-2012-0122 and
FMCSA-2012-0123. Their exemptions are applicable as of April 21, 2020,
and will expire on April 21, 2022.
    As of April 23, 2020, and in accordance with 49 U.S.C. 31136(e) and
31315(b), the following two individuals have satisfied the renewal
conditions for obtaining an exemption from the hearing requirement in
the FMCSRs for interstate CMV drivers (85 FR 19218):

Donald Lynch (AR) and Zachary Rietz (TX)
    The drivers were included in docket number FMCSA-2012-0332. Their
exemptions are applicable as of April 23, 2020, and will expire on
April 23, 2022.
    As of April 24, 2020, and in accordance with 49 U.S.C. 31136(e) and
31315(b), the following three individuals have satisfied the renewal
conditions for obtaining an exemption from the hearing requirement in
the FMCSRs for interstate CMV drivers (85 FR 19218):

Kwinton Carpenter (OH); Quinton Murphy (WI); and Andrey Shevchenko (MN)
    The drivers were included in docket number FMCSA-2013-0122 and
FMCSA-2013-0124. Their exemptions are applicable as of April 24, 2020,
and will expire on April 24, 2022.
    In accordance with 49 U.S.C. 31315(b), each exemption will be valid
for 2 years from the effective date unless revoked earlier by FMCSA.
The exemption will be revoked if the following occurs: (1) The person
fails to comply with the terms and conditions of the exemption; (2) the
exemption has resulted in a lower level of safety than was maintained
prior to being granted; or (3) continuation of the exemption would not
be consistent with the goals

and objectives of 49 U.S.C. 31136(e) and 31315(b).

Larry W. Minor,
Associate Administrator for Policy.
[FR Doc. 2020-11849 Filed 6-1-20; 8:45 am]
 BILLING CODE 4910-EX-P


[Federal Register: January 14, 2010 (Volume 75, Number 9)]
[Notices]
[Page 2137]
[DOCID:fr14ja10-54]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. EL10-25-001]

City of Anaheim, CA; Notice of Filing

January 5, 2010.
    Take notice that on December 30, 2009, City of Anaheim, California
filed a revised version of Appendix I to its Transmission Owner Tariff,
revised Affidavit of Nancy Le, and revised Exhibit Nos. ANA-1 and ANA-2
to the Transmission Revenue Balancing Account Adjustment submitted on
December 22, 2009.
    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, 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 on or before the comment date. On or
before the comment date, it is not necessary to 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>.
    Comment Date: 5 p.m. Eastern Time on January 22, 2010.

Kimberly D. Bose,
Secretary.
[FR Doc. 2010-521 Filed 1-13-10; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 86, Number 192 (Thursday, October 7, 2021)]
[Notices]
[Pages 55879-55881]
[FR Doc No: 2021-21866]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-93236; File No. SR-ICEEU-2021-018]

Self-Regulatory Organizations; ICE Clear Europe Limited; Notice
of Filing of Proposed Rule Change Relating to Amendments to the ICE
Clear Europe Collateral and Haircut Procedures

October 1, 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 September 20, 2021, ICE Clear Europe Limited (``ICE Clear Europe''
or the ``Clearing House'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule changes described in
Items I, II and III below, which Items have been prepared primarily by
ICE Clear Europe. 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. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change

    The principal purpose of the proposed amendments is for ICE Clear
Europe to modify its Collateral and Haircut Procedures (the
``Collateral and Haircut Procedures'' or ``Procedures'') to (i) include
explicitly the formula used for calculating Permitted Cover value, and
(ii) provide further details on the Clearing House's procedures for
monitoring data related to collateral valuations, including the
responsibilities of its different teams.

II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

    In its filing with the Commission, ICE Clear Europe 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. ICE Clear Europe has prepared summaries,
set forth in sections (A), (B), and (C) below, of the most significant
aspects of such statements.

(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

(a) Purpose
    ICE Clear Europe is proposing to revise the Collateral and Haircut
Procedures to state explicitly the formula used by the Clearing House
for calculating the value of Permitted Cover provided by Clearing
Members in respect of margin and guaranty fund requirements. The
formula would provide that cover value is equal to Nominal * Price/100
* (1-Haircut) + Nominal * Accrued, where price is clean and accrued is
expressed in %. Further to this description of the Permitted Cover
value calculation, the changes would also state that as a matter of
standard practice at the Clearing House, Treasuries would be given no
cover value 2 business days prior to maturity and a cash call would be
issued if a Member's account is in deficit. Additionally, the
amendments would state that accrued interest would lose value one day
prior to the coupon pay date. These changes reflect existing practice
at ICE Clear Europe with respect to the valuation of Permitted Cover
and are intended only to document that practice more clearly.
    The amendments would also update the Clearing House's processes for
monitoring data related to collateral pricing and would describe the
roles of

various teams tasked with such monitoring. Specifically, the amendments
would reflect that the System Operations team checks end of day
collateral pricing. The amendments would state that the Credit team has
the controls to monitor End of Day market data that the System
Operations team uses to value collateral against thresholds to ensure
that the data is not ``stale''. Additionally, the amendment would
provide that the Treasury team reconciles and confirms the daily
bilateral collateral positions (nominal amounts). These amendments
would not reflect a change in current practice, but are intended to
clarify relevant documentation.
    Finally, the description of the scope of the Collateral and Haircut
Procedures would be revised to remove an incorrect statement that the
Procedures do not address intraday and end of day valuation of
collateral.
(b) Statutory Basis
    ICE Clear Europe believes that the proposed amendments to the
Collateral and Haircut Procedures are consistent with the requirements
of Section 17A of the Act \3\ and the regulations thereunder applicable
to it. In particular, Section 17A(b)(3)(F) of the Act \4\ requires,
among other things, that the rules of a clearing agency be designed to
promote the prompt and accurate clearance and settlement of securities
transactions and, to the extent applicable, derivative agreements,
contracts, and transactions, the safeguarding of securities and funds
in the custody or control of the clearing agency or for which it is
responsible, and the protection of investors and the public interest.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78q-1.
    \4\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------

    The proposed changes to the Procedures are designed to clarify the
documentation of certain existing practices of the Clearing House
around valuation of Permitted Cover. Specifically, the amendments would
update and clarify the processes, controls and escalations with respect
to collateral valuation data monitoring as well as outline the
responsibilities of the Clearing House's teams in relation to such
monitoring. They would also state the formula used by the Clearing
House for calculating Permitted Cover value. The amendments would thus
facilitate the operation of the Clearing House's margin framework and
overall risk management procedures, and thereby promote the stability
of the Clearing House and the prompt and accurate clearance and
settlement of cleared contracts. The amendments are for these reasons
also generally consistent with the protection of investors and the
public interest in the safe operation of the Clearing House. (ICE Clear
Europe would not expect the amendments to affect the safeguarding of
securities and funds in ICE Clear Europe's custody or control or for
which it is responsible.) Accordingly, the amendments satisfy the
requirements of Section 17A(b)(3)(F).\5\
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------

    The amendments to the Collateral and Haircut Procedures are also
consistent with relevant provisions of Rule 17Ad-22. Rule 17Ad-22(e)(5)
requires the clearing agency to ``set and enforce appropriately
conservative haircuts and concentration limits if [it] requires
collateral to manage its or its participants' credit exposure.'' \6\
Rule 17Ad-22(e)(6)(iv) \7\ requires clearing agencies to maintain a
risk-based margin model that, among other things, ``uses reliable
sources of timely price data and uses procedures and sound valuation
models for addressing circumstances in which pricing data are not
readily available or reliable'' The amendments would clarify the
documentation of the Clearing House's procedures for valuing collateral
and monitoring relevant valuation and pricing data. As such, the
amendments are consistent with the requirements of Rule 17Ad-22.
---------------------------------------------------------------------------

    \6\ 17 CFR 240.17Ad-22(e)(5).
    \7\ 17 CFR 240.17Ad-22(e)(6)(iv).
---------------------------------------------------------------------------

    Rule 17Ad-22(e)(2) \8\ requires clearing agencies to establish
reasonably designed policies and procedures to provide for governance
arrangements that are clear and transparent and specify clear and
direct lines of responsibility. The amendments to the Collateral and
Haircut Procedures would clarify the responsibilities of the Clearing
House's teams in relation to collateral valuation data monitoring. In
ICE Clear Europe's view, the amendments are therefore consistent with
the requirements of Rule 17Ad-22(e)(2).\9\
---------------------------------------------------------------------------

    \8\ 17 CFR 240.17Ad-22(e)(2).
    \9\ 17 CFR 240.17Ad-22(e)(2).
---------------------------------------------------------------------------

(B) Clearing Agency's Statement on Burden on Competition

    ICE Clear Europe does not believe the proposed amendments would
have any impact, or impose any burden, on competition not necessary or
appropriate in furtherance of the purposes of the Act. The amendments
are being adopted to update the Clearing House's Collateral and Haircut
Procedures, which describe the Clearing House's internal processes for
collateral and haircut risk management as presented in the ICE Clear
Europe's Collateral and Haircut Policy. The amendments are intended to
more clearly document certain valuation practices and are not intended
to change Clearing House practices. ICE Clear Europe does not believe
the amendments would affect the costs of clearing, the ability to
market participants to access clearing, or the market for clearing
services generally. Therefore, ICE Clear Europe does not believe the
proposed rule change imposes any burden on competition that is
inappropriate in furtherance of the purposes of the Act.

(C) Clearing Agency's Statement on Comments on the Proposed Rule Change
Received From Members, Participants or Others

    Written comments relating to the proposed amendments have not been
solicited or received by ICE Clear Europe. ICE Clear Europe will notify
the Commission of any written comments received with respect to the
proposed rule change and adoption.

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 self-regulatory organization 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-ICEEU-2021-018 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-ICEEU-2021-018. 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 such filings will also be available for inspection
and copying at the principal office of ICE Clear Europe and on ICE
Clear Europe's website at https://www.theice.com/clear-europe/regulation.
    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-ICEEU-2021-018 and should be
submitted on or before October 28, 2021.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-21866 Filed 10-6-21; 8:45 am]
BILLING CODE 8011-01-P