[Federal Register Volume 77, Number 194 (Friday, October 5, 2012)]
[Notices]
[Pages 61036-61037]
[FR Doc No: 2012-24577]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67956; File No. SR-ISE-2012-78]

Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change To Amend the Exchange's Schedule of Fees

October 1, 2012.
    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 September 25, 2012, the International Securities Exchange, LLC
(the ``Exchange'' or the ``ISE'') filed with the Securities and
Exchange Commission the proposed rule change, as described in Items I,
II, and III below, which items have been prepared by the self-
regulatory organization. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change

    The ISE is proposing to amend its Schedule of Fees to note that
responses to Non-Customer Flash Orders exposed to members are not
charged a fee nor provided a credit. The text of the proposed rule
change is available on the Exchange's Web site (http://www.ise.com), at
the principal office of the Exchange, and at the Commission's Public
Reference Room.

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

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

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

1. Purpose
    Under the intermarket linkage rules, the ISE cannot execute orders
at a price that is inferior to the national best bid or offer
(``NBBO''), nor can the Exchange place an order on its book that would
cause the ISE best bid or offer to lock or cross another exchange's
quote.\3\ How the Exchange handles orders in these circumstances
depends on whether they are Public Customer Orders (i.e., orders for
the account of a person that is not a broker-dealer) \4\ or Non-
Customer Orders (i.e., orders for the account of a broker-dealer).\5\
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    \3\ See ISE Rules 1901 and 1902.
    \4\ See ISE Rule 100(a)(39).
    \5\ See ISE Rule 100(a)(28).
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    Currently, when ISE is not at the NBBO, Public Customer Order are
exposed to all ISE members to give them an opportunity to match the
NBBO \6\ (``Flash Orders \7\'') before a Primary Market Maker (``PMM'')
sends the order to another exchange for execution. The Exchange
recently amended its rules to expose Non-Customer Orders in such
circumstance before rejecting them, similar to the process used to
expose Public Customer Orders before those orders are sent for
execution pursuant to intermarket linkage rules.\8\
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    \6\ See Securities Exchange Act Release Nos. 57812 (May 12,
2008), 73 FR 28846 (May 19, 2008) (SR-ISE-2008-50); 58038 (June 26,
2008), 73 FR 38261 (June July 3, 2008) (SR-ISE-2008-50).
    \7\ The term Flash Order is currently defined in the Preface of
the Exchange's Schedule of Fees as a Priority or Professional
Customer order that is exposed at the National Best Bid or Offer by
the Exchange to all members for execution, as provided under
Supplementary Material .02 to ISE Rule 803.
    \8\ See Securities Exchange Act Release No. 67606 (August 7,
2012), 77 FR 48180 (August 13, 2012) (SR-ISE-2012-69). The Exchange
anticipates implementing this functionality in October 2012.
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    For Public Customer Flash Orders, the Exchange currently charges a
regular execution fee for orders that are flashed in Non-Select Symbols
and a taker fee for orders that are flashed in all other symbols.\9\
The Exchange also currently provides a credit for responses that trade
against a flashed order.\10\
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    \9\ See ISE Schedule of Fees, Section I, Regular Order Fees and
Rebates.
    \10\ See ISE Schedule of Fees, Section G, Credit for Responses
to Flash Orders.
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    For Non-Customer Flash Orders, the Exchange will also charge a
regular execution fee or a taker fee, as applicable, for the order that
is flashed to Exchange Members. However, for responses that trade
against Non-Customer Flash Orders, the Exchange will not provide a
credit nor charge an

execution fee. The purpose of this proposed rule change is to adopt
rule text on the Exchange's Schedule of Fees to note that responses to
Non-Customer Flash Orders will not be charged a fee or provided a
credit.
2. Statutory Basis
    The Exchange believes that its proposal to amend its Schedule of
Fees is consistent with Section 6(b) of the Securities and Exchange Act
of 1934 (the ``Exchange Act'') \11\ in general, and furthers the
objectives of Section 6(b)(4) of the Act \12\ in particular, in that it
is an equitable allocation of reasonable dues, fees and other charges
among Exchange members and other persons using its facilities. The
Exchange believes that the proposed rule change which seeks to adopt
clarifying text regarding the application of fees and credits for
responses to certain flashed orders is both reasonable and equitable
because members would benefit from clear guidance provided on the
Exchange's fee schedule. Further, the Exchange does not believe it
needs to provide an incentive to attract Non-Customer orders to the
Exchange and therefore, has determined not to provide a credit for
responses to Non-Customer Flash Orders. The Exchange provides a credit
for responses to Customer Flash Orders as an incentive to attract
Customer orders to the Exchange. The Exchange believes the proposed
rule change is also reasonable because it makes clarifying changes to
the Preface of the Schedule of Fees by amending the definition of Flash
Orders to also include all orders, and to Section G of the Schedule of
Fees thereby providing greater transparency to the Exchange's fees and
rebates.
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    \11\ 15 U.S.C. 78f(b).
    \12\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

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

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

    The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.

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)(ii) of the Act.\13\ At any time within 60 days of the
filing of such proposed rule change, the Commission summarily may
temporarily suspend such rule change if it appears to the Commission
that such action is necessary or appropriate in the public interest,
for the protection of investors, or otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.
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    \13\ 15 U.S.C. 78s(b)(3)(A)(ii).
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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-ISE-2012-78 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-ISE-2012-78. This file
number should be included on the subject line if email is used.

    To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml ). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for Web site
viewing and printing in the Commission's Public Reference Room on
official business days between the hours of 10:00 a.m. and 3:00 p.m.
Copies of such filing also will be available for inspection and copying
at the principal offices of ISE. 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-ISE-2012-78, and should be submitted on or before
October 26, 2012.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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    \14\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-24577 Filed 10-4-12; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 85, Number 130 (Tuesday, July 7, 2020)]
[Notices]
[Pages 40641-40643]
[FR Doc No: 2020-14575]

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ENVIRONMENTAL PROTECTION AGENCY

[Docket ID No. EPA-HQ-OAR-2020-0312; FRL-10011-92-ORD]

Call for Information on the Integrated Science Assessment for
Lead

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice; call for information.

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SUMMARY: The Environmental Protection Agency (EPA) is preparing an
Integrated Science Assessment (ISA) as part of the review of the
primary and secondary National Ambient Air Quality Standards (NAAQS)
for Lead (Pb). The ISA will be completed by EPA's Office of Research
and Development's Center for Public Health and Environmental Assessment
(CPHEA). When final, the ISA is intended to update the previous Pb ISA
(EPA/600/R-10/075F), published on June 26, 2013. Interested parties are
invited to assist EPA in developing and refining the scientific
information base for the review of the Pb NAAQS by submitting research
studies and data that have been published, accepted for publication, or
presented at a public scientific meeting since January 1, 2011.

DATES: All communications and information should be received by EPA by
September 8, 2020.

ADDRESSES: Information may be submitted electronically, by mail, by
facsimile, or by hand delivery/courier. Please follow the detailed
instructions as provided in the section of this notice entitled
SUPPLEMENTARY INFORMATION.

FOR FURTHER INFORMATION CONTACT: For information on the period of
submission, contact the OAR Docket at the EPA Headquarters Docket
Center; phone:<PHONE_NUMBER>; fax:<PHONE_NUMBER>; or email<EMAIL_ADDRESS>For technical information, contact Evan Coffman; phone:
919-541-0567; fax:<PHONE_NUMBER>; or email<EMAIL_ADDRESS>or
Meredith Lassiter; phone:<PHONE_NUMBER>; fax:<PHONE_NUMBER>; or email:
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Information About the Document

    Section 108(a) of the Clean Air Act directs the Administrator to
identify certain air pollutants which, among other things, ``cause or
contribute to air pollution which may reasonably be anticipated to
endanger public health or welfare''; \1\ and to issue air quality
criteria for them. The air quality criteria are to ``accurately reflect
the latest scientific knowledge useful in indicating the kind and
extent of all identifiable effects on public health or welfare which
may be expected from the presence of [a] pollutant in the ambient air.
. . .''. Under section 109 of the Act, EPA is then to establish NAAQS
for each pollutant for which EPA has issued criteria. Section 109(d)(1)
of the Act subsequently requires periodic review and, if appropriate,
revision of existing air quality criteria to reflect advances in
scientific knowledge on the effects of the pollutant on public health
or welfare. EPA is also required to review and, if appropriate, revise
the NAAQS, based on the revised air quality criteria (for more
information on the NAAQS review process, see https://www.epa.gov/naaqs).
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    \1\ Under Clean Air Act section 302(h), welfare effects include,
but are not limited to, ``effects on soils, water, crops,
vegetation, manmade materials, animals, wildlife, weather,
visibility, and climate, damage and deterioration of property, and
hazards to transportation, as well as effects on economic values and
on personal comfort and well-being.''
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    EPA has established NAAQS for six criteria pollutants, including
for lead (Pb). Periodically, EPA reviews the scientific basis for these
standards by preparing an ISA (formerly called an Air Quality Criteria
Document). The ISA provides the scientific basis for EPA's decisions,
in conjunction with additional technical and policy assessments, on the
adequacy of the current NAAQS and the appropriateness of possible
alternative standards. Early steps in this process include announcing
the beginning of this periodic NAAQS review and the development of the
ISA, and EPA requesting that the public submit scientific literature
that they want to bring to the attention of the Agency as it begins
this process. The Clean Air Scientific Advisory Committee (CASAC),
whose review and advisory functions are mandated by section 109(d)(2)
of the Clean Air Act, is charged (among other things) with independent
scientific review of the Agency's air quality criteria.
    The ISA will build on the scientific assessment for the last
review,\2\ focusing on assessing the information newly available since
that considered in the 2013 ISA. With regard to development of the ISA,
the public is encouraged to assist in identifying relevant scientific

information for the review by submitting research studies that were not
part of the prior review, and have been published or accepted for
publication in a peer-reviewed journal. The Agency is interested in
obtaining information from new and emerging studies showing effects or
no effects from Pb exposure. For example, the Agency is interested in
information about studies of effects of controlled exposure to Pb,
including in laboratory animals and in vitro systems; epidemiologic
(observational) studies of associations of health outcomes with
population exposures to Pb; and studies of ecological effects of Pb
exposure. With regard to health effect studies, of particular interest
are those studies that address or provide new information on health
outcomes for which the scientific evidence presented in the 2013 ISA
supported a ``causal relationship'' or ``likely to be causal
relationship'' with Pb, e.g., cognitive effects in children,
cardiovascular effects, and immune system effects; endpoints with less
overall evidence and/or notable uncertainties at the time of the 2013
Pb ISA, such as attention deficit hyperactivity disorder,
neurodegenerative effects, and adult obesity; endpoints not previously
identified in the 2013 Pb ISA; relationships between Pb exposure
concentrations and occurrence of health-related endpoints; health
effects associated with blood lead levels below 10 [micro]g/dL and/or
with near current exposure concentrations; Pb toxicokinetics and
toxicokinetic modeling; information and data useful for assessing
biological plausibility for Pb-related health effects; and
identification of populations and life stages at increased risk of Pb-
related health effects. For ecological effects of Pb, studies that
address or provide new information on terrestrial and aquatic biota are
of particular interest including, but not necessarily limited to,
effects of Pb on vegetation, soil and aquatic fauna, communities and
populations of microorganisms, plants, and animals, as well as research
on fate and transport of Pb in environmental media, and exposure-
response relationships between Pb in ambient air or other media and
ecological endpoints.
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    \2\ The scientific assessment for the last review is documented
in the Integrated Science Assessment for Lead (Final Report, July
2013), EPA/600/R-10/075F; 78 FR 38318, June 26, 2013.
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    Information particular to air-related pathways of human and
ecological exposure, including those involving deposition, are also of
interest to the Agency. Air-related pathways are those that include air
and may also involve media other than air, including indoor and outdoor
dust, soil, surface water and sediments, vegetation and biota. Air-
related Pb pathways of human exposure include inhalation of ambient air
or ingestion of food, water or other materials, including dust and
soil, containing Pb that has deposited from ambient air.
    EPA also seeks recent information in other areas of Pb research
such as human and ecological exposure assessment and exposure
assessment methodologies, sources and emissions, chemistry and physics,
sampling and analytical methodology, ambient concentrations and size
distributions, including environmental media concentration changes in
response to changes in Pb deposition, and other effects on public
welfare or the environment not listed above.
    The Agency also seeks information regarding the design and scope of
the review of the air quality criteria and the primary (health-based)
and secondary (welfare-based) Pb standards to ensure that it addresses
key policy-relevant issues and considers the new science that is
relevant to informing our understanding of these issues. The Agency
also seeks new scientific information that may address key
uncertainties identified in the last Pb NAAQS review, which are
provided in the Policy Assessment (EPA-452/R-14, May 2014).\3\ Other
opportunities for submission of new peer-reviewed, published (or in-
press) papers will be possible as part of public comment on the draft
ISAs that will be reviewed by the CASAC.
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    \3\ The 2014 Policy Assessment is available at: https://www3.epa.gov/ttn/naaqs/standards/pb/data/140501_pa_pb_fin.pdf.
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II. How To Submit Technical Comments to the Docket at
www.regulations.gov

    Submit your materials identified by Docket ID No. EPA-HQ-OAR-2020-
0312 by one of the following methods:
     www.regulations.gov: Follow the on-line instructions for
submitting comments.
     Email<EMAIL_ADDRESS>     Fax:<PHONE_NUMBER>. Due to COVID-19, there may be a delay
in processing comments submitted by fax.
     Mail: Office of Air and Radiation (OAR) Docket (Mail Code:
28221T), U.S. Environmental Protection Agency, 1200 Pennsylvania Ave.
NW, Washington, DC 20460. The phone number is<PHONE_NUMBER>. Due to
COVID-19, there may be a delay in processing comments submitted by
mail.
    Note: The EPA Docket Center and Reading Room is currently in the
reopening process. Visitors may be considered on an exception basis.
Visitors must complete docket material requests in advance and then
make an appointment to retrieve the material. Visitors will be allowed
entrance to the Reading Room by appointment only, and no walk-ins will
be allowed.
    Instructions: Direct your comments to Docket ID No. EPA-HQ-OAR-
2020-0312. Please ensure that your comments are submitted within the
specified comment period. Comments received after the closing date will
be marked ``late,'' and may only be considered if time permits. It is
EPA's policy to include all materials it receives in the public docket
without change and to make the materials available online at
www.regulations.gov, including any personal information provided,
unless materials includes information claimed to be Confidential
Business Information (CBI) or other information whose disclosure is
restricted by statute. Do not submit information that you consider to
be CBI or otherwise protected through www.regulations.gov or email. The
www.regulations.gov website is an ``anonymous access'' system, which
means EPA will not know your identity or contact information unless you
provide it in the body of your comment. If you send an email directly
to EPA without going through www.regulations.gov, your email address
will be automatically captured and included as part of the materials
that are placed in the public docket and made available on the
internet. If you submit electronic materials, EPA recommends that you
include your name and other contact information in the body of your
materials and with any disk or CD-ROM you submit. If EPA cannot read
your materials due to technical difficulties and cannot contact you for
clarification, EPA may not be able to consider the materials you
submit. Electronic files should avoid the use of special characters,
any form of encryption, and be free of any defects or viruses. For
additional information about EPA's public docket visit EPA's Docket
Center homepage at www.epa.gov/epahome/dockets.htm.
    Docket: Documents in the docket are listed in the
www.regulations.gov index. Although listed in the index, some
information is not publicly available, e.g., CBI or other information
whose disclosure is restricted by statute. Certain other materials,
such as copyrighted material, are publicly available only in hard copy.
Publicly available docket materials are available either electronically
in www.regulations.gov or in hard copy at the OAR Docket in EPA's
Headquarters Docket Center.

    Dated: June 30, 2020.
Wayne Cascio,
Director, Center for Public Health and Environmental Assessment.
[FR Doc. 2020-14575 Filed 7-6-20; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 76, Number 119 (Tuesday, June 21, 2011)]
[Notices]
[Pages 36161-36163]
[FR Doc No: 2011-15372]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-64677; File No. SR-Phlx-2011-80]

Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
Routing of Opening Orders

 June 15, 2011.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''), \1\ and Rule 19b-4 \2\ thereunder, notice is hereby given
that, on June 2, 2011, NASDAQ OMX PHLX LLC (``Phlx'' or ``Exchange'')
filed with the Securities and Exchange Commission (``SEC'' or
``Commission'') the proposed rule change as described in Items I and II
below, which Items have been prepared by the Exchange. The Commission
is publishing this notice to solicit comments on the proposed rule
change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend Rule 1017, Openings in Options, to
reflect a system change that describes the price at which the Exchange
will route opening orders to away markets in certain circumstances.
Specifically, the Exchange will route orders on the open to away
markets at prices other than the Exchange's opening price when such
order's limit price is marketable against an away market but not
marketable against the Exchange's opening price.
    The text of the proposed rule change is available on the Exchange's
Web site at http://www.nasdaqtrader.com/micro.aspx?id=PHLXRulefilings,
at the principal office of the Exchange, and at the Commission's Public
Reference Room.

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

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

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

1. Purpose
    The purpose of the proposed rule change is to reflect a change to
the PHLX XL [supreg] automated options trading system \3\ under which
opening orders that are submitted to the Exchange with a limit price
that is better than the Exchange's opening price would be routed to
away markets at the better-priced limit order's limit price. In such a
circumstance, the better-priced limit order could not be executed on
the

Exchange, but may be executable on an away market.
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    \3\ This proposal refers to ``PHLX XL'' as the Exchange's
automated options trading system. In May 2009 the Exchange enhanced
the system and adopted corresponding rules referring to the system
as ``Phlx XL II.'' See Securities Exchange Act Release No. 59995
(May 28, 2009), 74 FR 26750 (June 3, 2009) (SR-Phlx-2009-32). The
Exchange intends to submit a separate technical proposed rule change
that would change all references to the system from ``Phlx XL II''
to ``PHLX XL'' for branding purposes.
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Current Rule and System Functionality
    Currently, Exchange Rule 1017 describes a variety of situations
under which the PHLX XL system routes opening orders to away markets
when there is remaining interest on the Exchange that cannot be
executed at the Exchange's opening price.\4\ Whether and under what
various circumstances an opening limit order is to be routed are
described in detail in Rule 1017.\5\
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    \4\ The PHLX XL system calculates the Exchange's opening price
as follows: If there are no opening quotes or orders that lock or
cross each other, the system will open by disseminating the
Exchange's best bid and offer among quotes and orders that exist in
the Phlx XL II system at that time (because if no quotes or orders
lock/cross each other, nothing matches and there is no trade).
    If there are opening quotes or orders that lock or cross each
other, the Phlx XL II system will take the highest bid and the
lowest offer among quotations received that have a bid/ask
differential that is compliant with Rule 1014(c)(i)(A)(1)(a)
(``valid width quotes''), to determine the highest quote bid and
lowest quote offer. To calculate the opening price, the Phlx XL II
system will take into consideration all valid width Phlx quotes,
sweeps (defined below) and orders together with other exchanges'
markets for the series and identify the price at which the maximum
number of contracts can trade. If that price is within the highest
quote bid and lowest quote offer and leaves no imbalance, the
Exchange will open at that price, executing marketable trading
interest, as long as the opening price includes only Phlx interest.
     See Exchange Rules 1017(l)(i) and (ii).
    \5\ For a thorough description of the PHLX XL system's
functionality in routing opening orders, see Securities Exchange Act
Release No. 59995 (May 28, 2009), 74 FR 26750 June 3, 2009) (SR-
Phlx-2009-32).
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    The PHLX XL system calculates the opening price based upon the
price at which the greatest number of contracts can be executed.\6\ If
there are remaining contracts that are marketable at the Away Best Bid
or Offer (``ABBO'') after the execution at the Exchange's opening
price, such remaining contracts are routed to the ABBO market(s) at a
price that is equal to the Exchange's opening price.\7\ If, however,
the remaining contracts have a limit price that is better than the
Exchange's opening price, and the PHLX XL system routes them to the
ABBO market(s) at the Exchange's opening price, the result could be an
execution on the ABBO market(s) at a price that is inferior to the
limit price of the routed order.
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    \6\ See supra note 4.
    \7\ See Exchange Rule 1017(l)(ii)(C)(2).
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Example
    The following example illustrates the issue. Assume that the
opening scenario is:
    The ABBO is 1.00 (10) x 1.05 (10);
    Opening order to buy 10 contracts at 1.05;
    Opening order to buy 10 contracts at 1.06;
    Opening order to buy 10 contracts at 1.06, with instructions ``do
not route''; Opening order to sell 20 contracts at 1.06 with
instructions ``do not route.'' In this example, the Exchange's opening
price is 1.06, because that is the price at which the greatest number
of contracts will trade. The PHLX XL system will route 10 contracts to
the ABBO to buy at 1.06 (with an expected execution price of 1.05) and
trade 10 contracts on the Exchange at 1.06 (matching the ``do not
route'' buy order for 10 contracts against the ``do not route'' order
to sell 20 contracts at 1.06, leaving 10 remaining ``do not route''
contracts to sell at 1.06 on the Exchange). The opening order to buy 10
contracts at 1.05 will remain on the Exchange's order book as will the
remaining 10 contracts of the ``do not route'' sell order at 1.06. The
order to buy 10 contracts at 1.05 was marketable against the ABBO but
could not be executed as part of the opening process because the PHLX
XL system currently only routes to the ABBO market(s) at the Exchange's
opening price, which is 1.06, and which is inferior to the 1.05 limit
price.
The Proposal
    In order to address the issue described in the above example, the
Exchange proposes to amend the rule and change the system to provide
that the PHLX XL system will not only route to the ABBO market(s) at a
price that is equal to the Exchange's opening price, but also will
route to the ABBO market(s) at a price that is better than the
Exchange's opening price. With this system change, the PHLX XL system
would route the order to buy 10 contracts at 1.05 to the ABBO market(s)
and trade the other orders in their entirety at 1.06.
    The PHLX XL system will determine to route contracts to the ABBO
market(s) at a price that is equal to the Exchange's opening price when
there is interest on the Exchange at that price, but not all of the
contracts marketable at that price can be executed on the Exchange.
Remaining contracts from the partially executed order will be routed to
ABBO market(s) against which the order is marketable.
    The PHLX XL system will determine to route contracts to the ABBO
market(s) at a price that is better than the Exchange's opening price
when such contracts are not marketable on the Exchange but are
marketable against the ABBO market.
    The Exchange believes that this solution to the opening routing
issue described above ensures the routing of marketable opening orders
with a limit price that is better than the Exchange's opening price to
ABBO markets. This enables the PHLX XL system to seek, and route
opening orders to, the best away market(s) in the circumstance
described above, all to the benefit of the investing public.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act \8\ in general, and furthers the objectives of Section
6(b)(5) of the Act \9\ in particular, in that it is designed to promote
just and equitable principles of trade, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general to protect investors and the public interest,
by adopting a rule and system change that affords quality executions on
the opening at the best prices available, regardless of whether such
prices are present on the Exchange or on the ABBO market(s).
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

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

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

    No written comments were either solicited or received.

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

    Pursuant to Section 19(b)(3)(A) \10\ of the Act and Rule 19b-
4(f)(6) \11\ thereunder, the Exchange has designated this proposal as
one that effects a change that: (i) Does not significantly affect the
protection of investors or the public interest; (ii) does not impose
any significant burden on competition; and (iii) by its terms, does not
become operative for 30 days after the date of the filing, or such
shorter time as the Commission may designate if consistent with the
protection of investors and the public interest.
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    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(6).
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    A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the

date of filing.\12\ However, Rule 19b-4(f)(6)(iii) permits the
Commission to designate a shorter time if such action is consistent
with the protection of investors and the public interest. The Exchange
requested that the Commission waive the 30-day operative delay, as
specified in Rule 19b-4(f)(6)(iii),\13\ which would make the rule
change effective and operative upon filing.
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    \12\ 17 CFR 240.19b-4(f)(6)(iii). In addition, Rule 19b-
4(f)(6)(iii) requires the self-regulatory organization to give the
Commission 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.
    \13\ 17 CFR 240.19b-4(f)(6)(iii).
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    The Commission believes that waiving the 30-day operative delay is
consistent with the protection of investors and the public interest
because it will allow the proposal to take effect immediately, which
may result in better execution prices for investors at the opening.
Accordingly, the Commission designates the proposed rule change as
operative upon filing with the Commission.\14\
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    \14\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-Phlx-2011-80 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-Phlx-2011-80. 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 Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street, NE.,
Washington, DC 20549, on official business days between the hours of 10
a.m. and 3 p.m. Copies of the filing also will be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-Phlx-2011-80 and should be
submitted on or before July 12, 2011.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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    \15\ 17 CFR 200.30-3(a)(12).
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Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-15372 Filed 6-20-11; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 77, Number 192 (Wednesday, October 3, 2012)]
[Notices]
[Pages 60416-60417]
[FR Doc No: 2012-24227]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings

    Take notice that the Commission has received the following Natural
Gas Pipeline Rate and Refund Report filings:

Filings Instituting Proceedings

    Docket Numbers: RP12-1052-000.
    Applicants: Natural Gas Pipeline Company of America.

    Description: Negotiated Rate--Tenaska LPS-ROs to be effective 10/1/
2012.
    Filed Date: 9/24/12.
    Accession Number: 20120924-5035.
    Comments Due: 5 p.m. ET 10/9/12.

    Docket Numbers: RP12-1053-000.
    Applicants: Natural Gas Pipeline Company of America.
    Description: Penalty Revenue Crediting Report of Natural Gas
Pipeline Company of America LLC.
    Filed Date: 9/24/12.
    Accession Number: 20120924-5062.
    Comments Due: 5 p.m. ET 10/9/12.

    Docket Numbers: RP12-1054-000.
    Applicants: Cameron Interstate Pipeline, LLC.
    Description: Cameron Interstate Pipeline LLC Compliance Filing per
FERC Order 587-V NAESB 2.0 to be effective 12/1/2012.
    Filed Date: 9/24/12.
    Accession Number: 20120924-5066.
    Comments Due: 5 p.m. ET 10/9/12.

    Docket Numbers: RP12-1055-000.
    Applicants: LA Storage, LLC.
    Description: LA Storage Compliance Filing per FERC Order 587-V
NAESB V. 2.0 to be effective 12/1/2012.
    Filed Date: 9/24/12.
    Accession Number: 20120924-5067.
    Comments Due: 5 p.m. ET 10/9/12.

    Docket Numbers: RP12-1056-000.
    Applicants: Mississippi Hub, LLC.
    Description: Mississippi Hub Compliance Filing per FERC Order 587-V
NAESB V. 2.0 to be effective 12/1/2012.
    Filed Date: 9/24/12.
    Accession Number: 20120924-5068.
    Comments Due: 5 p.m. ET 10/9/12.

    Docket Numbers: RP12-1057-000.
    Applicants: Natural Gas Pipeline Company of America.
    Description: Negotiated Rate Filing--J-W Gathering to be effective
10/1/2012.
    Filed Date: 9/24/12.
    Accession Number: 20120924-5148.
    Comments Due: 5 p.m. ET 10/9/12.

    Docket Numbers: RP12-1058-000.
    Applicants: Pine Prairie Energy Center, LLC.
    Description: Pine Prairie Enhanced Services to be effective 11/1/
2012.
    Filed Date: 9/25/12.
    Accession Number: 20120925-5002.
    Comments Due: 5 p.m. ET 10/9/12.

    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, and service can be found at:
http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other
information, call<PHONE_NUMBER> (toll free). For TTY, call (202) 502-
8659.

    Dated September 25, 2012.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2012-24227 Filed 10-2-12; 8:45 am]
BILLING CODE 6717-01-P