[Federal Register Volume 75, Number 250 (Thursday, December 30, 2010)]
[Notices]
[Page 82379]
[FR Doc No: 2010-32842]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 13871-000--Colorado]

Wagon Wheel Associates; Notice of Availability of Environmental
Assessment

December 22, 2010.
    In accordance with the National Environmental Policy Act of 1969
and the Federal Energy Regulatory Commission's regulations, 18 CFR part
380 (Order No. 486, 52 FR 47897), the Office of Energy Projects has
reviewed the application for exemption from licensing for the Humphreys
Hydroelectric Project, to be located on Goose Creek (in the Rio Grande
River basin), near the town of South Fork, in Mineral County, Colorado,
and has prepared an Environmental Assessment (EA). In the EA,
Commission staff analyze the potential environmental effects of the
proposed project and conclude that issuing an exemption for the
proposed project, with appropriate environmental measures, would not
constitute a major federal action significantly affecting the quality
of the human environment.
    A copy of the EA is on file with the Commission and is available
for public inspection. The EA may also 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<PHONE_NUMBER>,
or for TTY,<PHONE_NUMBER>.
    You may also register online at http://www.ferc.gov/esubscribenow.htm to be notified via e-mail of new filings and
issuances related to this or other pending projects. For assistance,
contact FERC Online Support at<EMAIL_ADDRESS>or toll-free
at 1-866-208-3676, or for TTY,<PHONE_NUMBER>.
    Please contact Carolyn Templeton by telephone at<PHONE_NUMBER> or
by e-mail at<EMAIL_ADDRESS>if you have any questions.

Kimberly D. Bose,
Secretary.
[FR Doc. 2010-32842 Filed 12-29-10; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register: May 12, 2006 (Volume 71, Number 92)]
[Notices]
[Page 27716-27717]
[DOCID:fr12my06-69]

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

ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OW-2004-0003; FRL-8168-9]

National Guidance: Best Management Practices for Preparing
Vessels Intended To Create Artificial Reefs

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice of availability.

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

SUMMARY: This notice informs the public of the availability of the
final National Guidance: Best Management Practices for Preparing
Vessels Intended to Create Artificial Reefs, which provides information
on national environmentally-based best management practices for
preparation of vessels to be sunk with the intention of creating
artificial reefs. The U.S. Environmental Protection Agency (EPA) and
the Maritime Administration (MARAD) jointly developed this guidance
recommending environmental best management practices to be used in the
preparation of vessels for use as artificial reefs as required by
Section 3516 of the National Defense Authorization Act for Fiscal Year
2004. The first of its kind, this guidance document provides clean-up
performance goals and information on methods for achieving those goals
when preparing vessels prior to sinking.

FOR FURTHER INFORMATION CONTACT: Laura S. Johnson, Marine Pollution
Control Branch, Office of Wetlands, Oceans and Watersheds, (4504T),
U.S. EPA, 1200 Pennsylvania Ave., NW., Washington, DC 20460; telephone
number:<PHONE_NUMBER>; fax number:<PHONE_NUMBER>; e-mail address:
<EMAIL_ADDRESS>

SUPPLEMENTARY INFORMATION:

I. General Information

A. Interested Entities

    Entities potentially interested in today's notice are those who
want to transfer their vessel for reefing, have the capacity to prepare
a vessel for reefing, wish to undertake a vessel-to-reef project, or
are responsible for managing an artificial reef. Categories and
entities interested in today's notice include:

------------------------------------------------------------------------
                Category                 Examples of interested entities
------------------------------------------------------------------------
Federal Government.....................  Maritime Administration, U.S.
                                          Army Corps of Engineers, U.S.
                                          Coast Guard, U.S. Navy,
                                          National Oceanic and
                                          Atmospheric Administration.
State/Local/Tribal Government..........  Governments owning or
                                          responsible for artificial
                                          reef preparation, placement,
                                          and management; coastal
                                          communities.
Industry and General Public............  Shipyards, salvage companies,
                                          recreational fishing and scuba
                                          diving interests,
                                          environmental interest groups.
------------------------------------------------------------------------

This table is not intended to be exhaustive, but rather provides a
guide for readers regarding entities likely to be interested in this
notice. This table lists the types of entities that EPA is now aware
could potentially be interested in this notice. Other types of entities
not listed in the table could also be interested.

B. How Can I Get Copies of This Document and Other Related Information?

    1. Guidance Document Electronic Access. To obtain a copy of the
guidance document entitled National Guidance: Best Management Practices
for Preparing Vessels Intended to Create Artificial Reefs, please
access our Web site at: http://www.epa.gov/owow/oceans/habitat/artificialreefs
.

    2. Federal Register Docket. EPA has established a public docket for
this notice under Docket ID No. EPA-HQ-OW-2004-0003; FRL-XXXX-X. The
public docket consists of the documents specifically referenced in this
notice and other information related to this notice. The public docket
does not include information claimed as Confidential Business
Information (CBI) or other information whose disclosure is restricted
by statute. Publicly available docket materials are available either
electronically through http://www.regulations.gov or in hard copy at the Water

Docket in the EPA Docket Center, (EPA/DC) EPA West, Room B102, 1301
Constitution Ave., NW., Washington, DC. The EPA Docket Center Public
Reading Room is open from 8:30 a.m. to 4:30 p.m., Monday through
Friday, excluding legal holidays. The telephone number for the Public
Reading Room is<PHONE_NUMBER>, and the telephone number for the Water
Docket is<PHONE_NUMBER>. To view these materials, we encourage you to
call ahead to schedule an appointment. Every user is entitled to copy
266 pages per day before incurring a charge. The docket may charge 15
cents a page for each page over the 266-page limit plus an
administrative fee of $25.00.
    3. Federal Register Electronic Access. You may access this Federal
Register document electronically through the EPA Internet under the
``Federal Register'' listings at: http://www.epa.gov/fedrgstr/.

II. Background

    Section 3516 of the National Defense Authorization Act for Fiscal
Year 2004 (Act) requires that MARAD and EPA jointly develop guidance
recommending environmental best management practices (BMPs) to be used
in the preparation of vessels for use as artificial reefs. These BMPs
are to serve as national guidance for the clean-up and preparation of
obsolete and decommissioned military and commercial vessels for use as
artificial reefs. In addition, the Act requires the Secretary of the
Navy to ensure that the preparation of a vessel (that is stricken from
the Naval Vessel Registry) for use as an artificial reef is conducted
in accordance with these environmental best management practices and
applicable environmental laws.
    The Act provides that the BMPs are to (A) Ensure that vessels
prepared for use as artificial reefs ``will be environmentally sound in
their use as artificial reefs,'' (B) ``promote consistent use of such
practices nationwide,'' (C) ``provide a basis for estimating the costs
associated with the preparation of vessels for use as artificial
reefs,'' and (D) include measures that will ``enhance the utility of
the Artificial Reefing Program of the Maritime Administration as an
option for the disposal of obsolete vessels.''
    Options for managing obsolete and decommissioned military and
commercial vessels include re-use of the vessel or parts of the vessel,
recycling or scrapping, creating artificial reefs, and disposal on land
or at sea. The guidance document made available today addresses one of
these management options, artificial reef creation, with the intent of
promoting a consistent, national approach.
    An interagency workgroup, chaired by EPA, was established to
develop national environmentally-based best management practices for
the preparation of vessels to be sunk with the intention of creating
artificial reefs. The workgroup included representatives

from the EPA, U.S. Coast Guard, U.S. Navy, MARAD, U.S. Army Corps of
Engineers, National Oceanic and Atmospheric Administration, and the
U.S. Fish and Wildlife Service.
    On August 2, 2004, EPA published a notice of availability of the
Draft National Guidance: Best Management Practices for Preparing
Vessels Intended to Create Artificial Reefs for public comment. See
section I.B. of today's notice for information about viewing these
public comments and EPA's response to comments document.

III. Today's Action

    Today's notice announces the availability of the final BMP
guidance. This final guidance reflects the input of the Federal
workgroup and public comments received on the Draft National Guidance:
Best Management Practices for Preparing Vessels Intended to Create
Artificial Reefs (60 FR 46141). The guidance describes guidelines for
the preparation of obsolete and decommissioned military and commercial
vessels in a manner that is intended to help ensure that the marine
environment will benefit from their use as an artificial reef. The
guidance identifies materials or categories of materials of concern
that may be present aboard vessels, indicates where these materials may
be found, and briefly describes their potential adverse impacts if
released into the marine environment. The materials of concern include:
Fuels and oil, asbestos, polychlorinated biphenyls (PCBs), paints,
debris (e.g., vessel debris, floatables, introduced material), and
other materials of environmental concern (e.g., mercury, refrigerants).
For each material or category of material of concern identified, the
guidance provides a general clean-up performance goal and information
on methods for attaining those clean-up goals when preparing a vessel
prior to sinking. Achieving the clean-up performance goals provided in
this guidance, coupled with strategic reef site selection, will help
maximize the environmental benefits of using vessels as artificial
reefs.

    Dated: May 5, 2006.
Benjamin H. Grumbles,
Assistant Administrator for Water.
 [FR Doc. E6-7274 Filed 5-11-06; 8:45 am]

BILLING CODE 6560-50-P


[Federal Register: February 27, 2009 (Volume 74, Number 38)]
[Notices]
[Page 9013-9014]
[DOCID:fr27fe09-128]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59427; File No. SR-CBOE-2009-008]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change Relating to the Options Regulatory Fee

February 20, 2009.
    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 February 18, 2009, the Chicago Board Options Exchange, Incorporated
(``CBOE'' or the ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I, II and III below, which Items have been prepared by CBOE. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

    Chicago Board Options Exchange, Incorporated (``CBOE'' or
``Exchange'') proposes to amend its Fees Schedule relating to the
Options Regulatory Fee. The text of the proposed rule change is
available on the Exchange's Web site (http://www.cboe.org/legal), 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, CBOE 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. CBOE 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

(a) Purpose
    In October 2008, the Exchange filed a proposed rule change to
eliminate Registered Representative Fees and establish a transaction-
based ``Options Regulatory Fee'' (``ORF'').\3\ The ORF was to be
effective January 1, 2009. In December 2008 and January 2009, the
Exchange filed proposed rule changes waiving the ORF for January and
February, to allow additional time for the Exchange, the Options
Clearing Corporation (``OCC'') and firms to put in place appropriate
procedures to implement the fee.\4\
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 58817 (October 20,
2008), 73 FR 63744 (October 27, 2008). The ORF is $.0045 per
contract and is assessed to each member for all options transactions
executed by the member that are cleared by The Options Clearing
Corporation (``OCC'') in the customer range (i.e., that clear in a
customer account at OCC), excluding Options Intermarket Linkage Plan
(``Linkage'') orders. The ORF is imposed upon all such transactions
executed by a member, even if such transactions do not take place on
the Exchange. The ORF is collected indirectly from members through
their clearing firms by OCC on behalf of the Exchange.
    \4\ See Securities Exchange Act Release No. 59182 (December 30,
2008), 74 FR 730 (January 7, 2009), and Securities Exchange Act
Release No. 59355 (February 3, 2009), 74 FR 6677 (February 10,
2009).
---------------------------------------------------------------------------

    The Exchange has reevaluated the current amount of the ORF in light
of the waiver of the ORF for the first two months of 2009 and recent
volume levels. The Exchange has determined that it would experience a
regulatory revenue shortfall for 2009 if the ORF remained at $.0045 per
contract. To avoid a regulatory revenue shortfall for 2009, the
Exchange proposes to change the ORF from $.0045 per contract to $.006
per contract. The amount of the ORF will be one-cent in the case of a
one-contract trade, i.e., there is a minimum one-cent charge per trade.
The Exchange represents that the proposed new ORF rate would generate
approximately the same amount of revenue for calendar year 2009 that
would have been generated by the current ORF if the ORF had not been
waived for two months.
    As stated in its rule filing establishing the ORF, the Exchange
will monitor the amount of revenue collected from the ORF to ensure
that it, in combination with its other regulatory fees and fines, does
not exceed regulatory costs. The Exchange expects to monitor regulatory
costs and revenues at a minimum on an annual basis. If the Exchange
determines regulatory revenues exceed regulatory costs, the Exchange
would adjust the ORF by submitting a fee change filing to the
Commission. The Exchange will notify members of adjustments to the ORF
via regulatory circular.
    The Exchange also proposes to delete references to Registered
Representative fees from Section 12 of the Fees Schedule. All of the
proposed rule changes will become operative on March 1, 2009.
(b) Statutory Basis
    The Exchange believes the proposed rule change is consistent with
Section 6(b) of the Securities Exchange Act of 1934 (``Act'') \5\, in
general, and furthers the objectives of Section 6(b)(4) \6\ of the Act
in particular, in that it is designed to provide for the equitable
allocation of reasonable dues, fees, and other charges among its
members and other persons using its facilities. The Exchange believes
the revised ORF is reasonable because it relates to the recovery of the
costs of supervising and regulating members and it is expected to
generate approximately the same amount of revenue for calendar year
2009 that would have been generated by the current ORF if the ORF had
not been waived for the first two months of 2009.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(4).

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

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

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

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

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

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \7\ and subparagraph (f)(2) of Rule 19b-4 \8\
thereunder. At any time within 60 days of the filing of the proposed
rule change, the Commission may summarily abrogate such rule change if
it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A).
    \8\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-CBOE-2009-008 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-CBOE-2009-008. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/
sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Room, 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 the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make publicly available. All
submissions should refer to File Number SR-CBOE-2009-008 and should be
submitted on or before March 20, 2009.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-4153 Filed 2-26-09; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 84, Number 109 (Thursday, June 6, 2019)]
[Notices]
[Pages 26505-26507]
[FR Doc No: 2019-11791]

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

DEPARTMENT OF TRANSPORTATION

National Highway Traffic Safety Administration

[Docket No. NHTSA-2017-0012; Notice 2]

BMW of North America, LLC, Grant of Petition for Decision of
Inconsequential Noncompliance

AGENCY: National Highway Traffic Safety Administration (NHTSA),
Department of Transportation (DOT).

ACTION: Grant of petition.

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

SUMMARY: BMW of North America, LLC (BMW), has determined that certain
model year (MY) 2017 BMW 330i and 330i xDrive motor vehicles do not
fully comply with Federal Motor Vehicle Safety Standard (FMVSS) No.
110, Tire Selection and Rims and Motor Home/Recreation Vehicle Trailer
Load Carrying Capacity Information for Motor Vehicles with a GVWR of
4,536 kilograms (10,000 pounds) or less. BMW filed a noncompliance
report dated January 26, 2017, and subsequently petitioned NHTSA on
February 17, 2017, for a decision that the subject noncompliance is
inconsequential as it relates to motor vehicle safety. This notice
announces the grant of BMW's petition.

FOR FURTHER INFORMATION CONTACT: Kerrin Bressant, Office of Vehicle
Safety Compliance, NHTSA, telephone<PHONE_NUMBER>, facsimile (202)
366-3081.

SUPPLEMENTARY INFORMATION:
    I. Overview: BMW has determined that certain MY 2017 BMW 330i and
330i xDrive motor vehicles do not fully comply with paragraphs S4.3(c)
and S4.3(d) of Federal Motor Vehicle Safety Standard (FMVSS) No. 110,
Tire Selection and Rims and Motor Home/Recreation Vehicle Trailer Load
Carrying Capacity Information for Motor Vehicles with a GVWR of 4,536
kilograms (10,000 pounds) or less (49 CFR 571.110). BMW filed a
noncompliance information report dated January 26, 2017, pursuant to 49
CFR part 573, Defect and Noncompliance Responsibility and Reports. BMW
subsequently petitioned NHTSA on February 17, 2017, for an exemption
from the notification and remedy requirements of 49 U.S.C. Chapter 301
on the basis that this noncompliance is inconsequential as it relates
to motor vehicle safety, pursuant to 49 U.S.C. 30118(d) and 30120(h)
and 49 CFR part 556, Exemption for Inconsequential Defect or
Noncompliance.
    Notice of receipt of BMW's petition was published in the Federal
Register (82 FR 7511) with a 30-day public comment period, on April 11,
2017. No comments were received. To view the petition and all
supporting documents, log onto the Federal Docket Management System
(FDMS) website at: http://www.regulations.gov/. Then follow the online
search instructions to locate docket number ``NHTSA-2017-0012.''
    II. Vehicles Involved: Approximately 3,300 MY 2017 BMW 330i and
330i xDrive motor vehicles, manufactured between August 1, 2016, and
December 1, 2016, are potentially involved.
    III. Noncompliance: BMW explains that the noncompliance is that the
vehicle placard on the subject vehicles states that the vehicles were
equipped with 18-inch tires when in fact the subject vehicles were
actually equipped with 17-inch tires. The vehicle placard also states
that the cold tire inflation pressure for the rear tires is 240 kPa/35
psi when it should read 220 kPa/32 psi. Thus, the subject vehicles do
not fully comply with paragraphs S4.3(c) and (d) of FMVSS No. 110.
    IV. Rule Text: Paragraphs S4.3(c) and (d) of FMVSS No. 110 include
the requirements relevant to this petition:
     Each vehicle, except for a trailer or incomplete vehicle,
shall show the information specified in paragraph S4.3(a) through (g),
and may show, at the manufacturer's option, the information specified
in paragraph S4.3(h) and (i), on a placard permanently affixed to the
driver's side B-pillar. In each vehicle without a driver's side B-
pillar and with two doors on the driver's side of the vehicle opening
in opposite directions, the placard shall be affixed on the forward
edge of the rear side door.
     Vehicle manufacturers' recommended cold tire inflation
pressure for the front, rear and spare tires are subject to the
limitations of paragraph S4.3.4. For full-size spare tires, the
statement ``see above'' may, at the manufacturer's option, replace
manufacturer's recommended cold tire inflation pressure. If no spare
tire is provided, the word ``none'' must replace the manufacturer's
recommended cold tire inflation pressure.
     Tire size designation, indicated by the headings ``size''
or ``original tire size,'' and ``spare tire'' or ``spare,'' for the
tires installed at the time of first purchase for purposes other than
resale. For full-size spare tires, the statement ``see above'' may, at
the manufacturer's option, replace the tire size designation. If no
spare tire is provided, the word ``none'' must replace the tire size
designation; . . .
    V. Summary of BMW's Petition: BMW described the subject
noncompliance and stated its belief that the noncompliance is
inconsequential as it relates to motor vehicle safety.
    In support of its petition, BMW submitted the following reasoning:
    1. Overview of Tire Information Placards for 17-inch Tires and 18-
inch Tires: Although affected vehicles were properly equipped with 17-
inch tires, the FMVSS No. 110 tire information placard states that the
vehicles were equipped with 18-inch tires. The placard includes the
manufacturer's recommended cold tire inflation pressure and tire size
designation for the 18-inch tires.
    Additionally, affected vehicles were equipped with a tire
information placard intended for the BMW 320i model, although affected
vehicles are the BMW 330i and 330i xDrive models.
    Notably, the tire information placard for the 18-inch rear tires
denotes a cold tire inflation pressure value of 35 psi, whereas the
placard for the 17-inch rear tire denotes a cold tire inflation
pressure value of 32 psi. This will not result in a vehicle overload
condition as explained in further detail below.
    2. Using Tire Information Placard to Set Tire Pressure: If a
vehicle operator uses the tire information placard to set the tire
pressures, the tire pressures will be set at 32 psi and 35 psi for the
front and for the rear tires, respectively. This will not lead to a
vehicle overload condition as explained below:
    For the front tires, the tire information placard displays the
manufacturer's recommended cold tire inflation pressure value which is
identical to that which is required for the tires equipped on the
vehicles.
    For the rear tires, the tire information placard displays the
manufacturer's recommended cold tire inflation pressure value, which is
larger than that which is required for the tires equipped on the
vehicle.
    Therefore, a vehicle operator would not inflate the front and rear
tires to a tire pressure which is lower than that which is required. In
other petitions in which there exists the possibility to inflate tires
to a tire pressure value which is lower than the required value,
calculations can be performed to show that even in those cases, the
equipped tires at the lower tire pressure value still have sufficient
load carrying capacity, and therefore will not lead to a vehicle
overload condition. Such calculations can be performed using either
axle load limits or using individual tire load limits.
    However, for the vehicles that are the subject of this petition,
that possibility

does not exist. The vehicle operator would not underinflate the front
tires or the rear tires; therefore, such calculations are not necessary
for this petition.
    3. Using Other Information Sources to Set Tire Pressure: If a
vehicle operator notices that the tires depicted on the tire
information placard do not correspond to the tires equipped on the
vehicle, there are a number of information sources and services
available, which can be used to identify the correct tire pressure and,
therefore, achieve the proper inflation level for the tires equipped on
the vehicle.

 Sources That Point to the Vehicle Owner's Manual

    --FMVSS No. 110 paragraph S4.3(f) requires that the tire
information placard contain the following statement: ``See Owner's
Manual for Additional Information''. Therefore, the tire information
placard will help point the vehicle operator to the Owner's Manual in
order to identify the correct tire inflation pressures for use on the
vehicle.
    --FMVSS No. 138 paragraph S4.5(a) requires that the Owner's Manual
contain the following text:

    ``Each tire, including the spare (if provided), should be
checked monthly when cold and inflated to the inflation pressure
recommended by the vehicle manufacturer on the vehicle placard or
tire inflation pressure label. (If your vehicle has tires of a
different size than the size indicated on the vehicle placard or
tire inflation pressure label, you should determine the proper tire
inflation pressure for those tires.)''

    Vehicle Operators who attempt to check the vehicle's tire pressure
on a routine schedule (e.g., monthly, as noted above), or when
necessary, would be pointed to the Owner's Manual for additional
clarifying information. Therefore, after reviewing this information, it
is likely that they would inflate the tires to the recommended cold
tire inflation pressure. This is explained in further detail below.
    A vehicle operator could check the specific tires installed on the
vehicle which, in this case, are 17-inch tires. The information that is
stamped onto the sidewall of the tires identifies the tire size.
Subsequent to checking and identifying the installed tires, the vehicle
operator could consult the vehicle Owner's Manual, or contact BMW
Roadside AssistanceTM, BMW AssistTM, or BMW
Customer Relations, for further information in order to set the correct
tire pressure. This is explained in further detail below.

 Owner's Manual

    The vehicle Owner's Manual contains information pertaining to the
various tire sizes and tire pressures available for use on the affected
vehicles.
    Affected vehicles contain a tire information placard denoting 18-
inch tires having a front, and rear, tire pressure of 32 psi and 35
psi. However, affected vehicles (BMW 330i, 330i xDrive) were equipped
with 17-inch tires in which a front, and a rear, tire pressure should
be 32 psi. Therefore, a vehicle operator would be able to check the
Owner's manual, identify the correct tires equipped on the vehicle, and
then set the tire inflation pressures to the correct levels.
    Additionally, affected vehicles are also equipped with an in-
vehicle electronic Owner's Manual accessed through the
iDriveTM controller containing the same information as in
the hardcopy Owner's Manual.
    Furthermore, the electronic Owner's Manual also contains contact
information for BMW Roadside AssistanceTM, and if equipped
also BMW AssistTM, and BMW Customer Relations. Vehicle
operators can use these additional information sources and services to
identify the correct tires equipped on the vehicle and then set the
tire inflation pressures to the correct levels.

 BMW Roadside AssistanceTM

    BMW Roadside AssistanceTM (available 24 hours/day)
representatives have information available indicating by vehicle model
and model year, all of the available tire sizes and specifications for
the affected vehicles. All affected vehicles contain a reference to,
and instructions for contacting, BMW Roadside AssistanceTM
in the vehicle Owner's Manual. Therefore, if contacted, BMW Roadside
AssistanceTM would be able to help the vehicle operator
determine the correct tire pressure for use on the vehicle.
    Vehicle operators are able to contact BMW Roadside
AssistanceTM using the toll-free telephone number located:

--On the BMW Roadside AssistanceTM Card located in the
vehicle's portfolio
--on one, or more, BMW Roadside AssistanceTM specific Labels
in the vehicle
--within the vehicle's Quick Reference Guide
--within the vehicle's Service and Warranty Book

    Vehicle Operators are also able to contact BMW Roadside
AssistanceTM using the:

--In-vehicle iDriveTM controller and menu option for BMW
Roadside AssistanceTM.
--in-vehicle emergency call button on the overhead console.

 BMW Assist TM

    BMW AssistTM (available 24 hours/day) representatives
have information available indicating by vehicle model and model year,
all of the available tire sizes and specifications for the affected
vehicles. All affected vehicles contain a reference to, and
instructions for contacting, BMW AssistTM in the vehicle
Owner's Manual. Therefore, if contacted, BMW AssistTM would
be able to help the vehicle operator determine the correct tire
pressures for use on the vehicle.
    Vehicle Operators are able to contact BMW AssistTM by
using the:

--In-vehicle iDriveTM controller and menu option for BMW
AssistTM
--in-vehicle emergency call button on the overhead console

    Vehicles with BMW AssistTM contain a BMW
AssistTM Book located in the vehicle's portfolio with
contact information for BMW AssistTM, BMW Roadside
AssistanceTM, and BMW Customer Relations.

 BMW Customer Relations

    If a vehicle operator contacts BMW Customer Relations and provides
the Vehicle Identification Number, a Customer Relations Representative
will be able to inform the vehicle operator of the specific vehicle
configuration. Therefore, if contacted, BMW Customer Relations would be
able to help the vehicle operator determine the correct tire pressures
for use on the vehicle.
    Vehicle Operators are able to contact BMW Customer Relations by:

--Using the toll-free telephone number located in the vehicle Owner's
Manual and the Service and Warranty Book
--using the in-vehicle iDriveTM controller and menu option
for BMW Customer Relations
--contacting BMW AssistTM who can, if necessary, transfer
the vehicle operator to BMW Customer Relations

    4. Field Experience:

Owner Contacts to BMW Customer Relations

    BMW Customer Relations has not received any contacts from vehicle
owners regarding this issue. Therefore, BMW is unaware that any vehicle
owner has encountered this issue.

Accidents/Injuries

    BMW is unaware of any accidents or injuries that have occurred as a
result of this issue.
    5. Prior NHTSA Grants to Manufacturer Petitions: NHTSA has

previously granted petitions for inconsequential noncompliance
regarding FMVSS No. 110 involving vehicles whereby the tire information
placard contained tire size and tire pressure information which did not
match the tires equipped on the vehicle. In particular, it was shown
that although the tire information placard displayed the manufacturer's
recommended cold tire inflation pressure which was a smaller value than
that which was required for the tires equipped on the vehicle, the load
carrying capacity of the equipped tires, at this smaller tire pressure,
was still sufficient and would not lead to a vehicle overload
condition.
    For the affected vehicles that are the subject of this petition,
the FMVSS No. 110 tire information placard displays the manufacturer's
recommended cold tire inflation pressure value for the front tires
which is identical to that which is required for the tires equipped on
the vehicle and, displays the manufacturer's recommended cold tire
inflation pressure value for the rear tires which is larger than the
value which is required for the tires equipped on the vehicle.
Consequently, there is no risk of an underinflated tire, the load
carrying capacity of the equipped tires is still sufficient and,
therefore, there is no risk of a vehicle overload condition.
    Nevertheless, as a reference, and for comparison to this petition,
NHTSA has granted petitions from manufacturers in cases where the tire
information placard displayed a tire inflation pressure value which was
smaller than that which was required for the tires equipped on the
vehicle. (See BMW, 81 FR 62970, September 13, 2016; BMW, 78 FR 76408,
December 17, 2013; and Volkswagen, 78 FR 28287, May 14, 2013)
    6. Vehicle Production: Vehicle production has been corrected to
conform to FMVSS No. 110 paragraphs S4.3(c) and S4.3(d).
    BMW concluded by expressing the belief that the subject
noncompliance is inconsequential as it relates to motor vehicle safety,
and that its petition to be exempted from providing notification of the
noncompliance, as required by 49 U.S.C. 30118, and a remedy for the
noncompliance, as required by 49 U.S.C. 30120, should be granted.
    VI. NHTSA Analysis: BMW explains that the noncompliance is that the
subject vehicles were equipped with 17-inch tires, although, the
vehicle placard (referred to as the tire and information placard by
BMW) states that the vehicles were equipped with 18-inch tires and
includes the manufacturer's recommended cold tire inflation pressure
and tire size designation for the 18-inch tires. Therefore, the
affected vehicles do not conform to FMVSS 110 paragraphs S4.3(c) and
4.3(d).
    The intent of FMVSS No. 110 is to ensure that vehicles are equipped
with tires appropriate to handle maximum vehicle loads and to prevent
overloading.
    FMVSS No. 110 requires that the original tires installed on a
vehicle and the tires listed on the vehicle placard be the same size
and that the tires, at the manufacturer recommended inflation pressure,
be appropriate for the designed vehicle maximum load conditions. If a
customer were to look at the vehicle placard to determine recommended
inflation pressure values they would see values intended for the 18-
inch tire and not the 17-inch tire. If the customer does not notice
that their vehicle has 17-inch tires installed they may use the 18-inch
tire inflation pressure values, which are the same for the tires on the
front axle but larger for the tires on the rear axle. If this were the
case, calculations show that the 17-inch tire load carrying capacity of
the rear tires at the 18-inch tire delineated pressure is appropriate
for the subject vehicle's rear GAWR. Specifically, if a vehicle owner
inflated their tires to the inflation pressure listed for the 18-inch
tires, the result would be an increase to 240 kPa/35 psi for the rear
tires and a net increase in load capacity for the vehicle overall.
Alternatively, if the vehicle owner installed 18-inch tires on the
subject vehicle, those tires at the listed cold inflation pressure
would also be appropriate, as required by FMVSS No. 110, for the
subject vehicle's front and rear GAWRs.
    The agency agrees with BMW that the subject noncompliance is
inconsequential to motor vehicle safety and that there is no risk of
possible underinflating or overloading of the tires and should a
vehicle owner question the correct tire size or corresponding
recommended cold tire inflation pressures for the their vehicle, this
information is available in other locations such as the sidewall
markings and the owner's manual.
    VII. NHTSA's Decision: In consideration of the foregoing analysis,
NHTSA finds that BMW has met its burden of persuasion that the subject
FMVSS No. 110 noncompliance in the subject vehicles is inconsequential
to motor vehicle safety.
    Accordingly, BMW's petition is hereby granted and BMW is
consequently exempted from the obligation of providing notification of,
and a free remedy for, that noncompliance under 49 U.S.C. 30118 and
30120.
    NHTSA notes that the statutory provisions (49 U.S.C. 30118(d) and
30120(h)) that permit manufacturers to file petitions for a
determination of inconsequentiality allow NHTSA to exempt manufacturers
only from the duties found in sections 30118 and 30120, respectively,
to notify owners, purchasers, and dealers of a defect or noncompliance
and to remedy the defect or noncompliance. Therefore, this decision
only applies to the subject vehicles that BMW no longer controlled at
the time it determined that the noncompliance existed. However, the
granting of this petition does not relieve vehicle distributors and
dealers of the prohibitions on the sale, offer for sale, or
introduction or delivery for introduction into interstate commerce of
the noncompliant vehicles under their control after BMW notified them
that the subject noncompliance existed.

    Authority:  49 U.S.C. 30118, 30120: delegations of authority at
49 CFR 1.95 and 501.8.

Otto G. Matheke III,
Director, Office of Vehicle Safety Compliance.
[FR Doc. 2019-11791 Filed 6-5-19; 8:45 am]
 BILLING CODE 4910-59-P


[Federal Register Volume 82, Number 103 (Wednesday, May 31, 2017)]
[Proposed Rules]
[Page 24924]
[FR Doc No: 2017-10965]

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

ENVIRONMENTAL PROTECTION AGENCY

40 CFR Parts 52 and 81

[EPA-R05-OAR-2016-0395; FRL-9963-00-Region 5]

Air Plan Approval; Ohio; Redesignation of the Cleveland Area to
Attainment of the 2008 Lead Standard

AGENCY: Environmental Protection Agency (EPA).

ACTION: Proposed rule.

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

SUMMARY: On June 29, 2016, the Ohio Environmental Protection Agency
(OEPA) submitted a request for the Environmental Protection Agency
(EPA) to redesignate the partial Cuyahoga County nonattainment area
(known as and referred to as the Cleveland area) to attainment for the
2008 national ambient air quality standards (NAAQS or standards) for
lead. EPA determined that the Cleveland area meets the requirements for
redesignation and is also proposing to approve several additional
related actions. EPA is proposing to approve, as revisions to the Ohio
state implementation plan (SIP), reasonably available control measure/
reasonably available control technology (RACM/RACT) requirements,
emissions inventory requirements, and the state's plan for maintaining
the 2008 lead NAAQS through 2030 for the area. EPA is taking these
actions in accordance with the Clean Air Act (CAA) and EPA's
implementation regulations regarding the 2008 lead NAAQS.

DATES: Comments must be received on or before June 30, 2017.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-R05-
OAR-2016-0395 at http://www.regulations.gov or via email to
<EMAIL_ADDRESS>For comments submitted at Regulations.gov,
follow the online instructions for submitting comments. Once submitted,
comments cannot be edited or removed from Regulations.gov. For either
manner of submission, EPA may publish any comment received to its
public docket. Do not submit electronically any information you
consider to be Confidential Business Information (CBI) or other
information whose disclosure is restricted by statute. Multimedia
submissions (audio, video, etc.) must be accompanied by a written
comment. The written comment is considered the official comment and
should include discussion of all points you wish to make. EPA will
generally not consider comments or comment contents located outside of
the primary submission (i.e. on the web, cloud, or other file sharing
system). For additional submission methods, please contact the person
identified in the For Further Information Contact section. For the full
EPA public comment policy, information about CBI or multimedia
submissions, and general guidance on making effective comments, please
visit http://www2.epa.gov/dockets/commenting-epa-dockets.

FOR FURTHER INFORMATION CONTACT: Carolyn Persoon, Environmental
Engineer, Control Strategies Section, Air Programs Branch (AR-18J),
Environmental Protection Agency, Region 5, 77 West Jackson Boulevard,
Chicago, Illinois 60604,<PHONE_NUMBER><EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: In the Final Rules section of this Federal
Register, EPA is proposing to approve the State's SIP submittal as a
direct final rule without prior proposal because the Agency views this
as a noncontroversial submittal and anticipates no adverse comments. A
detailed rationale for the approval is set forth in the direct final
rule. If no adverse comments are received in response to this rule, no
further activity is contemplated. If EPA receives adverse comments, the
direct final rule will be withdrawn and all public comments received
will be addressed in a subsequent final rule based on this proposed
rule. EPA will not institute a second comment period. Any parties
interested in commenting on this action should do so at this time.
Please note that if EPA receives adverse comment on an amendment,
paragraph, or section of this rule and if that provision may be severed
from the remainder of the rule, EPA may adopt as final those provisions
of the rule that are not the subject of an adverse comment. For
additional information, see the direct final rule which is located in
the Rules section of this Federal Register.

    Dated: May 11, 2017.
Cheryl L. Newton,
Acting Regional Administrator, Region 5.
[FR Doc. 2017-10965 Filed 5-30-17; 8:45 am]
 BILLING CODE 6560-50-P


[Federal Register Volume 84, Number 112 (Tuesday, June 11, 2019)]
[Notices]
[Pages 27178-27181]
[FR Doc No: 2019-12187]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86033; File No. SR-C2-2019-012]

Self-Regulatory Organizations; Cboe C2 Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Update
Its Price Adjust Process To Allow for the Process To Apply to Bulk
Messages

June 5, 2019.
    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 May 23, 2019, Cboe C2 Exchange, Inc. (the ``Exchange'' or
``C2'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III 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.
---------------------------------------------------------------------------

    \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).
---------------------------------------------------------------------------

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

    Cboe C2 Exchange, Inc. (the ``Exchange'' or ``C2'') proposes to
update its Price Adjust process to allow for the process to apply to
bulk messages. The text of the proposed rule change is provided in
Exhibit 5.
    The text of the proposed rule change is also available on the
Exchange's website (http://markets.cboe.com/us/options/regulation/rule_filings/ctwo/), 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 Exchange proposes to amend its rules to allow for the Price
Adjust process to apply to bulk messages and make corresponding changes
where applicable. The Exchange is proposing these amendments in order
to provide Options Members that submit bulk messages with functionality
that is currently available to them for orders.
    In February 2019, the Exchange adopted bulk messaging
functionality, in which a User may enter, modify or cancel up to an
Exchange-specified number of bids and offers. A User may submit a bulk
message through a bulk port.\5\ The System \6\ handles bulk messages in
the same manner as it handles an order, or quote if submitted by a
Market-Maker, unless the Rules specify otherwise. Currently, Rule 6.10
allows a User to designate an order to be subject to the Price Adjust
process pursuant to Rule 6.12.\7\ Pursuant to current Rule 6.12(b), the
System ranks and displays a buy (sell) order that, at the time of
entry, would lock or cross a Protected Quotation of the Exchange or
another exchange at one minimum price increment below (above) the
current National Best Offer (``NBO'') or National Best Bid (``NBB''),
as applicable. The Price Adjust process applies to orders (subject to
the User's instructions or the Rules) that do not execute upon entry
and go to rest in the C2 Book (for example, because an order is not
marketable upon entry, is not eligible to route, etc.). It ensures
these orders rest at executable prices in accordance with linkage
rules.\8\ Current Rules 6.10(c) and 6.12(b) state that the Price Adjust
process does not apply to bulk messages.\9\
---------------------------------------------------------------------------

    \5\ See Rule 6.8(c)(3).
    \6\ The ``System'' is the automated trading system the Exchange
uses for the trading of option contracts. See Rule 1.1.
    \7\ An order that is not designated as Cancel Back is also
subject to the Price Adjust process (i.e., orders default to be
subject to the Price Adjust process).
    \8\ See Section E of Chapter VI of the Rules. See also Options
Order Protection and Locked/Crossed Market Plan (the ``Linkage
Plan'').
    \9\ Specifically, the multiple bids (offers) submitted through a
bulk message. Therefore, as proposed, a Price Adjust or Cancel Back
designation, as applicable, applies to all bulk message bids and
offers within a single message.
---------------------------------------------------------------------------

    Current Rule 6.10(c) also provides for a Cancel Back order, in
which a User may designate an order not to be subject to the Price
Adjust process and the System cancels or rejects such order if
displaying the order on the C2 Book would create a violation of Rule
6.82 (Locked and Crossed Markets), or if the order cannot otherwise be
executed or displayed in the C2 Book at its limit price. The System
executes a Book Only--Cancel Back order marketable against resting
orders, and cancels or rejects a Post Only--Cancel Back order that
locks or crosses the opposite side of the BBO.
    Furthermore, current Rule 6.12(c) provides for additional System
order handling provisions regarding bulk messages submitted through
bulk quoting ports. Specifically, Rule 6.12(c)(6)(A) provides that the
System will cancel or reject a Post Only bulk message bid (offer) with
a price that locks or crosses the Exchange best offer (bid) or ABO
(ABB).\10\ The Exchange notes that bulk messages that include a Post
Only instruction do not remove liquidity from the Exchange or route
away to other exchanges.\11\ Current Rule 6.12(c)(6)(A) is consistent
with how the System handles a Post Only--Cancel Back order.\12\
Additionally, current Rule 6.12(c)(6)(B) provides that the System
cancels or rejects a Book Only bulk message bid (offer) that locks or
crosses the ABO (ABB) against offers (bids) resting in the C2 Book at
prices the same as or better than the ABO (ABO) and then cancels the
unexecuted portion of that bid (offer). Book Only orders do not route
away to other exchanges.\13\

Current Rule 6.12(c)(6)(B) is consistent with how the System handles
Book Only--Cancel Back orders.\14\ The Exchange also notes that
pursuant to Rule 6.8(c), a Market-Maker with an appointment in a class
may designate a bulk message for that class as Post Only or Book Only,
and other Users (i.e., non-Market-Makers or Market-Makers without an
appointment in a class) must designate a bulk message for that class as
Post Only.\15\
---------------------------------------------------------------------------

    \10\ The ABBO means the best bid (offer) disseminated by other
exchanges.
    \11\ See Rule 6.10, which defines a ``Post Only'' order as an
order the System ranks and executes pursuant to Rule 6.12, subjects
to the Price Adjust process pursuant to Rule 6.12, or cancels or
rejects (including if it is not subject to the Price Adjust process
and locks or crosses a Protected Quotation of another exchange), as
applicable (in accordance with User instructions), except the order
may not remove liquidity from the Book or route away to another
Exchange. Users may designate bulk messages as Post Only as set
forth in Rule 6.8(c).
    \12\ See supra note 8.
    \13\ See Rule 6.10, which defines a ``Book Only'' order as an
order the System ranks and executes pursuant to Rule 6.12, subjects
to the Price Adjust process pursuant to Rule 6.12, or cancels, as
applicable (in accordance with User instructions), without routing
away to another exchange. Users may designate bulk messages as Book
Only as set forth in Rule 6.8(c).
    \14\ See supra note 8.
    \15\ Pursuant to the current Rules, a bulk message must be
designated as Post Only or Book Only. Additionally, because bulk
messages must include bids and offers, and may not be market orders,
all bulk messages are limit orders. See Rules 1.1 and 6.10(b).
---------------------------------------------------------------------------

    The Exchange now proposes to amend Rule 6.10(c) and Rule 6.12(b) to
permit Users to designate bulk messages to be subject to the Price
Adjust process, and permit Users to opt-out of such process for bulk
messages by designating bulk messages as Cancel Back. The Price Adjust
and Cancel Back designations, as applicable, will apply to all bulk
message bids and offers within a single message. The Exchange notes
that Users have noted the regularity with which their bulk messages are
rejected because Price Adjust does not apply to them. As a result, some
Users find this inefficient when submitting bulk messages. The Exchange
believes that allowing bulk messages to be subject to the Price Adjust
process will provide market participants with additional opportunities
for execution and price improvement, as well as additional flexibility
and control over their submission of bulk messages. If a User does not
want a bulk message to be subject to the Price Adjust process, it may
designate the bulk message as Cancel Back, as noted above. A Cancel
Back bulk message will be handled in the same manner as a bulk message
is handled today.\16\
---------------------------------------------------------------------------

    \16\ The Exchange also proposes to make a non-substantive change
to Rule 6.12(b) to amend the capitalization of ``exchange'' in the
phrase ``or another exchange'', which is consistent with the format
of this phrase throughout the Rules.
---------------------------------------------------------------------------

    As proposed, all bulk messages would now be subject to the Price
Adjust process if it locks or crosses the BBO or ABBO and rest in the
C2 Book pursuant to the process, thus avoiding display of a locked or
crossed market in accordance with the linkage rules.\17\ Therefore, the
Exchange now proposes to remove Rules 6.12(c)(6)(A) and 6.12(c)(6)(B)
(and amend the subsequent lettering as a result) because Post Only and
Bulk Only bulk messages will now be included in the Price Adjust
process, the handling of which would now be consistent with the current
order handing of Post Only and Book Only orders under the Price Adjust
process.\18\ The Exchange also notes that all bulk messages not subject
to the Price Adjust process (because the User has designated a bulk
message as Cancel Back) would be handled in the same manner as the
proposed deleted subparagraphs (c)(6)(A) and (c)(6)(B) pursuant to the
Cancel Back instruction under Rule 6.10(c).
---------------------------------------------------------------------------

    \17\ See supra note 8.
    \18\ See supra notes 11 and 13.
---------------------------------------------------------------------------

    The Exchange notes that allowing bulk messages to be subject to a
repricing process is consistent with the handling of similar order (and
quote) types on other exchanges.\19\ A similar repricing (display-price
sliding) process for bulk messages currently exists under Rule
21.1(h)(1) of the Exchange's affiliated exchange, Cboe BZX Exchange,
Inc. (``BZX Options''). The Exchange also notes that other exchanges
subject orders (quotes) similar to Post Only and Book Only bulk
messages to a repricing process like the Price Adjust process. For
example, NYSE Arca, Inc. (``Arca'') recently adopted order types called
the Market Maker Add Liquidity Only quotation (``MMALO''), which like a
Post Only instruction may not remove liquidity from the Exchange, and
the Market Maker Repricing quotation (``MMRP'').\20\ Pursuant to Arca's
repricing process, if these quotes would not be able to trade upon
entry (for example, because the MMALO would take liquidity or display
at a price that locks or crosses any interest on the Exchange or the
NBBO), it would be displayed at one minimum price variation below
(above) such sell (buy) interest.
---------------------------------------------------------------------------

    \19\ See Securities Exchange Act Release No. 84737 (December 6,
2018), 83 FR 63919 (December 12, 2018) (SR-NYSEArca-2018-74) (order
approving the proposed order types). See also BZX Options Rule
21.1(h)(1).
    \20\ See Arca Rule 6.37A-O(a)(3)(A) and Rule 6.37A-O(a)(3)(C).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\21\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \22\ requirements that the rules of an 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. Additionally,
the Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \23\ requirement that the rules of an exchange not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
---------------------------------------------------------------------------

    \21\ 15 U.S.C. 78f(b).
    \22\ 15 U.S.C. 78f(b)(5).
    \23\ Id.
---------------------------------------------------------------------------

    In particular, the Exchange believes that the proposed rule change
subjecting bulk messages to the Price Adjust process will remove
impediments to and perfect the mechanism of a free and open market
because it provides Users with the flexibility to apply to bulk
messages the same functionality they may apply to their orders. The
Exchange believes that repricing bulk messages for Users (that do not
opt out of the Price Adjust process), as opposed to automatically
rejecting messages that lock or cross protected quotes when posted to
the C2 Book, will permit Users to use bulk messages to respond to
continuously changing market conditions in a more efficient manner, as
well as provide additional opportunity for execution and price
improvement. The proposed repricing of bulk messages prevents the
display of a locked or crossed market and is consistent with the
Linkage Plan,\24\ thereby perfecting the mechanism of a free and open
market and national market system and protecting investors.
---------------------------------------------------------------------------

    \24\ See supra note 8.
---------------------------------------------------------------------------

    The Exchange also believes that by providing Users with the ability
to designate bulk messages as subject to the Price Adjust process
instead of cancelling or rejecting these messages under certain
circumstances, will give Users greater flexibility and control over the
circumstances under which their orders are able to interact with contra
side-interest on the Exchange. The Exchange believes this may increase
the opportunities for execution at multiple price points and encourage
the provision of more liquidity to the market, and therefore believes
that it is reasonably designed to facilitate the mechanism of price
discovery.
    The Exchange notes that the options markets are quote driven
markets and thus dependent on liquidity providers,

which are most commonly registered market-makers but also other Users,
such as professional traders, for liquidity and price discovery. The
Exchange believes that subjecting bulk messages to the Price Adjust
process will provide liquidity providers with greater flexibility with
respect to their submission of bulk messages, the primary purpose of
which is to provide liquidity to the market. The Exchange believes that
the reduction in the number of rejected bulk messages will promote
efficacy in bulk messaging and may encourage the provision of more
liquidity. This may result in more trading opportunities and tighter
spreads and contribute to price discovery. As a result, this proposed
change intends to improve overall market quality and enhance
competition on the Exchange to the benefit of all investors.\25\
---------------------------------------------------------------------------

    \25\ The Exchange also believes that its proposed change to
amend the capitalization of ``exchange'' when referring to ``another
exchange'' in Rule 6.12(b) is a clarifying change that will
alleviate potential investor confusion because it is consistent with
the format of this phrase throughout the Rules. See supra note 14.
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition
    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The Exchange does not
believe 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, as the proposed application of the Price Adjust
and the Cancel Back process to bulk messages will be available to all
applicable Users (e.g. Market-Makers may submit Book Only bulk
messages, therefore, the option to apply the Price Adjust or Cancel
Back process to Book Only bulk messages is available to all Market-
Makers). While bulk messages will by default be subject to the Price
Adjust process, all Users may apply the Cancel Back instruction to bulk
messages in order to opt out of that process for its bulk messages (and
continue to have their bulk messages be handled in the same manner as
they are today). The Exchange also notes that the Price Adjust and
Cancel Back instructions are already available to all Users for orders,
including Post Only and Book Only orders, and will apply to bulk
messages in the same manner as they apply to orders.
    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 will
provide Users with bulk message repricing functionality that is similar
to other order and quote repricing available on other options
exchanges. The Exchange believes the proposed functionality will permit
the Exchange to operate on an even playing field relative to other
exchanges that have similar functionality.
    As discussed above, the options markets are quote driven markets
and thus dependent on various Users as liquidity providers and for
price discovery. The Exchange believes the proposed amendment to
subject bulk messages to the Price Adjust process will provide
liquidity providers with additional flexibility and control over
interactions of their bulk messages with contra-side liquidity, as well
as additional opportunity for execution at multiple price points and
price improvement. This may encourage the provision of more liquidity,
which may result in more trading opportunities and tighter spreads, and
contribute to price discovery. This may improve overall market quality
and enhance competition on the Exchange, to the benefit of all
investors.

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

    The Exchange 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)(iii) of the Act \26\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\27\
---------------------------------------------------------------------------

    \26\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \27\ 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.
---------------------------------------------------------------------------

    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-C2-2019-012 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-C2-2019-012. 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-C2-2019-012 and should be submitted on or before July 2, 2019.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\28\
---------------------------------------------------------------------------

    \28\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-12187 Filed 6-10-19; 8:45 am]
 BILLING CODE 8011-01-P