[Federal Register Volume 78, Number 172 (Thursday, September 5, 2013)]
[Rules and Regulations]
[Pages 54564-54566]
[FR Doc No: 2013-21282]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 97

[Docket No. 30916; Amdt. No. 3551]

Standard Instrument Approach Procedures, and Takeoff Minimums and
Obstacle Departure Procedures; Miscellaneous Amendments

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This rule establishes, amends, suspends, or revokes Standard
Instrument Approach Procedures (SIAPs) and associated Takeoff Minimums
and Obstacle Departure Procedures for operations at certain airports.
These regulatory actions are needed because of the adoption of new or
revised criteria, or because of changes occurring in the National
Airspace System, such as the commissioning of new navigational
facilities, adding new obstacles, or changing air traffic requirements.
These changes are designed to provide safe and efficient use of the
navigable airspace and to promote safe flight operations under
instrument flight rules at the affected airports.

DATES: This rule is effective September 5, 2013. The compliance date
for each SIAP, associated Takeoff Minimums, and ODP is specified in the
amendatory provisions. The incorporation by reference of certain
publications listed in the regulations is approved by the Director of
the Federal Register as of September 5, 2013.

ADDRESSES: Availability of matters incorporated by reference in the
amendment is as follows:
    For Examination--
    1. FAA Rules Docket, FAA Headquarters Building, 800 Independence
Avenue SW., Washington, DC 20591;
    2. The FAA Regional Office of the region in which the affected
airport is located;
    3. The National Flight Procedures Office, 6500 South MacArthur
Blvd., Oklahoma City, OK 73169 or,
    4. The National Archives and Records Administration (NARA). For
information on the availability of this material at NARA, call 202-741-
6030, or go to: http://www.archives.gov/federal_register/code_of_federal_regulations/ibr_locations.html.
    Availability--All SIAPs and Takeoff Minimums and ODPs are available
online free of charge. Visit http://www.nfdc.faa.gov to register.
Additionally, individual SIAP and Takeoff Minimums and ODP copies may
be obtained from:
    1. FAA Public Inquiry Center (APA-200), FAA Headquarters Building,
800 Independence Avenue SW., Washington, DC 20591; or
    2. The FAA Regional Office of the region in which the affected
airport is located.

FOR FURTHER INFORMATION CONTACT: Richard A. Dunham III, Flight
Procedure Standards Branch (AFS-420), Flight Technologies and Programs
Divisions, Flight Standards Service, Federal Aviation Administration,
Mike Monroney Aeronautical Center, 6500 South MacArthur Blvd. Oklahoma
City, OK. 73169 (Mail Address: P.O. Box 25082, Oklahoma City, OK 73125)
Telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: This rule amends Title 14 of the Code of
Federal Regulations, Part 97 (14 CFR part 97), by establishing,
amending, suspending, or revoking SIAPS, Takeoff Minimums and/or ODPS.
The complete regulators description of each SIAP and its associated
Takeoff Minimums or ODP for an identified airport is listed on FAA form
documents which are incorporated by reference in this amendment under 5
U.S.C. 552(a), 1 CFR part 51, and 14 CFR part 97.20. The applicable FAA
Forms are FAA Forms 8260-3, 8260-4, 8260-5, 8260-15A, and 8260-15B when
required by an entry on 8260-15A.
    The large number of SIAPs, Takeoff Minimums and ODPs, in addition
to their complex nature and the need for a special format make
publication in the Federal Register expensive and impractical.
Furthermore, airmen do not use the regulatory text of the SIAPs,
Takeoff Minimums or ODPs, but instead refer to their depiction on
charts printed by publishers of aeronautical materials.

The advantages of incorporation by reference are realized and
publication of the complete description of each SIAP, Takeoff Minimums
and ODP listed on FAA forms is unnecessary. This amendment provides the
affected CFR sections and specifies the types of SIAPs and the
effective dates of the, associated Takeoff Minimums and ODPs. This
amendment also identifies the airport and its location, the procedure,
and the amendment number.

The Rule

    This amendment to 14 CFR part 97 is effective upon publication of
each separate SIAP, Takeoff Minimums and ODP as contained in the
transmittal. Some SIAP and Takeoff Minimums and textual ODP amendments
may have been issued previously by the FAA in a Flight Data Center
(FDC) Notice to Airmen (NOTAM) as an emergency action of immediate
flight safety relating directly to published aeronautical charts. The
circumstances which created the need for some SIAP and Takeoff Minimums
and ODP amendments may require making them effective in less than 30
days. For the remaining SIAPS and Takeoff Minimums and ODPS, an
effective date at least 30 days after publication is provided.
    Further, the SIAPs and Takeoff Minimums and ODPS contained in this
amendment are based on the criteria contained in the U.S. Standard for
Terminal Instrument Procedures (TERPS). In developing these SIAPS and
Takeoff Minimums and ODPs, the TERPS criteria were applied to the
conditions existing or anticipated at the affected airports. Because of
the close and immediate relationship between these SIAPs, Takeoff
Minimums and ODPs, and safety in air commerce, I find that notice and
public procedures before adopting these SIAPS, Takeoff Minimums and
ODPs are impracticable and contrary to the public interest and, where
applicable, that good cause exists for making some SIAPs effective in
less than 30 days.

Conclusion

    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current.
It, therefore--(1) is not a ``significant regulatory action'' under
Executive Order 12866; (2) is not a ``significant rule'' under DOT
Regulatory Policies and Procedures (44 FR 11034; February 26, 1979);
and (3) does not warrant preparation of a regulatory evaluation as the
anticipated impact is so minimal. For the same reason, the FAA
certifies that this amendment will not have a significant economic
impact on a substantial number of small entities under the criteria of
the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 97

    Air traffic control, Airports, Incorporation by reference, and
Navigation (air).

    Issued in Washington, DC, on August 16, 2013.
John Duncan,
Deputy Director, Flight Standards Service.

Adoption of the Amendment

    Accordingly, pursuant to the authority delegated to me, Title 14,
Code of Federal Regulations, Part 97 (14 CFR part 97) is amended by
establishing, amending, suspending, or revoking Standard Instrument
Approach Procedures and/or Takeoff Minimums and/or Obstacle Departure
Procedures effective at 0902 UTC on the dates specified, as follows:

PART 97--STANDARD INSTRUMENT APPROACH PROCEDURES

0
1. The authority citation for part 97 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40103, 40106, 40113, 40114, 40120,
44502, 44514, 44701, 44719, 44721-44722.

0
2. Part 97 is amended to read as follows:

Effective 19 SEPTEMBER 2013

Montgomery, AL, Montgomery Rgnl (Dannelly Field), ILS OR LOC RWY 10,
Amdt 23G
Montgomery, AL, Montgomery Rgnl (Dannelly Field), ILS Y OR LOC RWY
28, Amdt 11
Montgomery, AL, Montgomery Rgnl (Dannelly Field), ILS Z RWY 28, Orig
Montgomery, AL, Montgomery Rgnl (Dannelly Field), RNAV (GPS) RWY 10,
Amdt 1A
Montgomery, AL, Montgomery Rgnl (Dannelly Field), RNAV (GPS) RWY 28,
Amdt 1A
San Diego, CA, Brown Field Muni, RNAV (GPS) RWY 8L, Amdt 1
Torrance, CA, Zamperini Field, RNAV (GPS) RWY 29R, Orig-A
Upland, CA, Cable, RNAV (GPS) RWY 6, Amdt 1
Fernandina Beach, FL, Fernandina Beach Muni, RNAV (GPS) RWY 13, Amdt
2
Fernandina Beach, FL, Fernandina Beach Muni, RNAV (GPS) RWY 22, Amdt
1
Fernandina Beach, FL, Fernandina Beach Muni, Takeoff Minimums and
Obstacle DP, Amdt 1
Jacksonville, FL, Cecil, TACAN RWY 9R, Orig
Jacksonville, FL, Cecil, TACAN RWY 27L, Orig
Key West, FL, Key West Intl, RADAR 1, Amdt 5
Lakeland, FL, Lakeland Linder Rgnl, Takeoff Minimums and Obstacle
DP, Amdt 1
Venice, FL, Venice Muni, RNAV (GPS) RWY 5, Orig
Venice, FL, Venice Muni, RNAV (GPS) RWY 23, Orig
Venice, FL, Venice Muni, Takeoff Minimums and Obstacle DP, Amdt 3
Atlanta, GA, Hartsfield-Jackson Atlanta Intl, ILS OR LOC RWY 8L, ILS
RWY 8L (SA CAT I), ILS RWY 8L (CAT II), ILS RWY 8L (CAT III), Amdt
4B
Atlanta, GA, Hartsfield-Jackson Atlanta Intl, ILS OR LOC RWY 28, ILS
RWY 28 (SA CAT I), ILS RWY 28 (CAT II), Amdt 3A
Atlanta, GA, Hartsfield-Jackson Atlanta Intl, ILS PRM RWY 8L, ILS
PRM RWY 8L (SA CAT I), ILS PRM RWY 8L (CAT II), ILS PRM RWY 8L (CAT
III) (SIMULTANEOUS CLOSE PARALLEL), Amdt 1B
Atlanta, GA, Hartsfield-Jackson Atlanta Intl, ILS PRM RWY 28, ILS
PRM RWY 28 (SA CAT I), ILS PRM RWY 28 (CAT II) (SIMULTANEOUS CLOSE
PARALLEL), Amdt 3B
Atlanta, GA, Hartsfield-Jackson Atlanta Intl, RNAV (GPS) Y RWY 8L,
Amdt 3A
Atlanta, GA, Hartsfield-Jackson Atlanta Intl, RNAV (GPS) Y RWY 28,
Amdt 3A
Atlanta, GA, Hartsfield-Jackson Atlanta Intl, RNAV (RNP) Z RWY 8L,
Amdt 1A
Atlanta, GA, Hartsfield-Jackson Atlanta Intl, RNAV (RNP) Z RWY 28,
Amdt 2A
Sioux City, IA, Sioux Gateway/Col. Bud Day Field, RNAV (GPS) RWY 17,
Orig-C
Robinson, IL, Crawford Co, NDB RWY 17, Amdt 8
Indianapolis, IN, Indianapolis Rgnl, RNAV (GPS) RWY 16, Amdt 1
Indianapolis, IN, Indianapolis Rgnl, RNAV (GPS) RWY 34, Amdt 1
Kokomo, IN, Kokomo Muni, RNAV (GPS) RWY 14, Orig
Kokomo, IN, Kokomo Muni, RNAV (GPS) RWY 32, Orig
Mount Sterling, KY, Mount Sterling-Montgomery County, GPS RWY 21,
Amdt 1B, CANCELED
Mount Sterling, KY, Mount Sterling-Montgomery County, NDB RWY 3,
Amdt 2
Mount Sterling, KY, Mount Sterling-Montgomery County, NDB RWY 21,
Amdt 2
Mount Sterling, KY, Mount Sterling-Montgomery County, RNAV (GPS) RWY
3, Orig
Mount Sterling, KY, Mount Sterling-Montgomery County, RNAV (GPS) RWY
21, Orig
Russellville, KY, Russellville-Logan County, RNAV (GPS) RWY 24, Orig
Russellville, KY, Russellville-Logan County, Takeoff Minimums and
Obstacle DP, Amdt 3
Russellville, KY, Russellville-Logan County, VOR/DME RWY 24, Amdt 7
Vineyard Haven, MA, Marthas Vineyard, RNAV (GPS) RWY 15, Orig-A
Grand Ledge, MI, Abrams Muni, RNAV (GPS) RWY 9, Orig
Hancock, MI, Houghton County Memorial, RNAV (GPS) RWY 25, Amdt 1
Menominee, MI, Menominee-Marinette Twin County, RNAV (GPS) RWY 32,
Amdt 1
Columbia, MS, Columbia-Marion County, RNAV (GPS) RWY 5, Orig

Columbia, MS, Columbia-Marion County, RNAV (GPS) RWY 23, Amdt 1
Jackson, MS, Jackson-Medgar Wiley Evers International, Takeoff
Minimums and Obstacle DP, Amdt 2
Raymond, MS, John Bell Williams, RNAV (GPS) RWY 30, Amdt 3A
Akron, NY, Akron, RNAV (GPS) RWY 7, Amdt 2
Akron, NY, Akron, RNAV (GPS) RWY 25, Amdt 2
Lebanon, OH, Warren County/John Lane Field, RNAV (GPS) RWY 1, Amdt 2
Lebanon, OH, Warren County/John Lane Field, RNAV (GPS) RWY 19, Amdt
3
Bellefonte, PA, Bellefonte, RNAV (GPS) RWY 7, Orig
Bellefonte, PA, Bellefonte, RNAV (GPS) RWY 25, Orig
Bellefonte, PA, Bellefonte, Takeoff Minimums and Obstacle DP, Amdt 1
Bellefonte, PA, Bellefonte, VOR-A, Amdt 2
Allendale, SC, Allendale County, GPS RWY 17, Orig-C, CANCELED
Allendale, SC, Allendale County, GPS RWY 35, Amdt 1B, CANCELED
Allendale, SC, Allendale County, RNAV (GPS) RWY 17, Orig
Allendale, SC, Allendale County, RNAV (GPS) RWY 35, Orig
Allendale, SC, Allendale County, Takeoff Minimums and Obstacle DP,
Amdt 1
Sioux Falls, SD, Joe Foss Field, ILS OR LOC RWY 3, Amdt 27E
Sioux Falls, SD, Joe Foss Field, RNAV (GPS) RWY 3, Amdt 1A
Sioux Falls, SD, Joe Foss Field, RNAV (GPS) RWY 15, Orig-E
Sioux Falls, SD, Joe Foss Field, RNAV (GPS) RWY 21, Amdt 1A
Sioux Falls, SD, Joe Foss Field, RNAV (GPS) RWY 33, Orig-D
Fort Worth, TX, Bourland Field, RNAV (GPS) RWY 35, Amdt 1
Fort Worth, TX, Bourland Field, Takeoff Minimums and Obstacle DP,
Amdt 1
San Antonio, TX, San Antonio Intl, RNAV (RNP) Z RWY 12R, Orig-A
Wallops Island, VA, Wallops Flight Facility, RNAV (GPS) RWY 4, Amdt
1
Wallops Island, VA, Wallops Flight Facility, RNAV (GPS) RWY 10, Amdt
1
Wallops Island, VA, Wallops Flight Facility, RNAV (GPS) RWY 17, Amdt
1
Wallops Island, VA, Wallops Flight Facility, RNAV (GPS) RWY 22, Amdt
1
Wallops Island, VA, Wallops Flight Facility, RNAV (GPS) RWY 28, Amdt
1
Wallops Island, VA, Wallops Flight Facility, RNAV (GPS) RWY 35, Orig
Wallops Island, VA, Wallops Flight Facility, VOR/DME OR TACAN RWY
10, Amdt 6
Wallops Island, VA, Wallops Flight Facility, VOR OR TACAN RWY 17,
Amdt 7
Amery, WI, Amery Muni, RNAV (GPS) RWY 18, Amdt 1
Amery, WI, Amery Muni, RNAV (GPS) RWY 36, Amdt 1
Burlington, WI, Burlington Muni, RNAV (GPS) RWY 11, Orig
Burlington, WI, Burlington Muni, RNAV (GPS) RWY 29, Amdt 1
Burlington, WI, Burlington Muni, Takeoff Minimums and Obstacle DP,
Amdt 3
Burlington, WI, Burlington Muni, VOR-A, Amdt 2

Effective 17 OCTOBER 2013

Maryville, MO, Northwest Missouri Rgnl, Takeoff Minimums and
Obstacle DP, Amdt 4

[FR Doc. 2013-21282 Filed 9-4-13; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 79, Number 130 (Tuesday, July 8, 2014)]
[Notices]
[Pages 38628-38631]
[FR Doc No: 2014-15793]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72504; File No. SR-Phlx-2014-41]

Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change Regarding
the Short Term Option Series Program

July 1, 2014.
    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 27, 2014, 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 is filing with the Commission a proposal to amend Rule
1012 (Series of Options Open for Trading) and Rule 1101A (Terms of
Option Contracts) regarding the Short Term Option (``STO'') Program
(``STO Program'' or ``Program'') to introduce finer strike price
intervals for standard expiration contracts in option classes that also
have STOs \3\ listed on them

(``related non-STOs'' or ``related non-Short Term Options'').
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    \3\ STOs, also known as ``weekly options'' as well as ``Short
Term Options'', are series in an options class that are approved for
listing and trading on the Exchange in which the series are opened
for trading on any Thursday or Friday that is a business day and
that expire on the Friday of the next business week. If a Thursday
or Friday is not a business day, the series may be opened (or shall
expire) on the first business day immediately prior to that Thursday
or Friday, respectively. For STO Program rules regarding non-index
options, see Rule 1000(b)(44) and Commentary .11 to Rule 1012. For
STO Program rules regarding index options, see Rule 1000A(b)(16) and
Rule 1101A(b)(vi).
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    The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaqomxphlx.cchwallstreet.com, at the principal
office of the Exchange, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of this proposed rule change is to amend Rule 1012 and
Rule 1101A regarding the STO Program to introduce finer strike price
intervals for standard expiration contracts in option classes that also
have related non-STOs listed on them. In particular, the Exchange
proposes to amend its rules to permit the listing of related non-short
term options during the month prior to expiration in the same strike
price intervals as allowed for short term option series.
    The STO Program, which was initiated in 2010,\4\ is codified in
Commentary .11 to Rule 1012 for non-index options including equity,
currency, and exchange traded fund (``ETF'') options, and in Rule
1101A(b)(vi) for index options. Under these rules, the Exchange may
list STOs in up to fifty option classes,\5\ including up to thirty
index option classes,\6\ in addition to option classes that are
selected by other securities exchanges that employ a similar program
under their respective rules. For each of these option classes, the
Exchange may list five STO expiration dates at any given time, not
counting monthly or quarterly expirations.\7\ Specifically, on any
Thursday or Friday that is a business day, the Exchange may list STOs
in designated option classes that expire at the close of business on
each of the next five consecutive Fridays that are business days.\8\
These STOs, which can be several weeks or more from expiration, may be
listed in strike price intervals of $0.50, $1, or $2.50, with the finer
strike price intervals being offered for lower priced securities, and
for options that trade in the Exchange's dollar strike program.\9\ More
specifically, the Exchange may list short term options in $0.50
intervals for strike prices less than $75, or for option classes that
trade in one dollar increments in the related non-short term option, $1
intervals for strike prices that are between $75 and $150, and $2.50
intervals for strike prices above $150.\10\
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    \4\ See Securities Exchange Act Release No. 62296 (June 15,
2010), 75 FR 35115 (June 21, 2010) (SR-Phlx-2010-84) (notice of
filing and immediate effectiveness permanently establishing STO
Program on the Exchange).
    \5\ See Commentary .11(a) to Rule 1012.
    \6\ See Rule 1101A(b)(vi)(A).
    \7\ See Commentary .11 to Rule 1012; Rule 1101A(b)(vi).
    \8\ Id.
    \9\ See Commentary .11 to Rule 1012; Rule 1101A(b)(vi).
    \10\ Id. See Commentary .11(e) to Rule 1012; Rule
1101A(b)(vi)(E). The $2.50 interval does not apply to indexes. See
Rule 1101A(b)(vi).
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    The Exchange may also list standard expiration contracts, which are
listed in accordance with the regular monthly expiration cycle. These
standard expiration contracts must be listed in wider strike price
intervals of $2.50, $5, or $10,\11\ though the Exchange also operates
strike price programs, such as the dollar strike program mentioned
above,\12\ that allow the Exchange to list a limited number of option
classes in finer strike price intervals. In general, the Exchange must
list standard expiration contracts in $2.50 intervals for strike prices
of $25 or less, $5 intervals for strike prices greater than $25, and
$10 intervals for strike prices greater than $200.\13\ During the week
prior to expiration only, the Exchange is permitted to list related
non-short term option contracts in the narrower strike price intervals
available for short term option series.\14\ Since this exception to the
standard strike price intervals is available only during the week prior
to expiration, however, standard expiration contracts regularly trade
at significantly wider intervals than their weekly counterparts, as
illustrated below.
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    \11\ See Commentary .05(a)(iii) to Rule 1012.
    \12\ See Commentary .05(A)(1) [sic] to Rule 1012, which allows
the Exchange to designate up to 150 option classes on individual
stocks to be traded in $1 strike price intervals where the strike
price is between $50 and $1. See also Commentary .05(b) to Rule 1012
($2.50 Strike Program) and Commentary .05(a)(ii) to Rule 1012 ($0.50
Strike Program).
    \13\ See Commentary .05(a)(iii) to Rule 1012.
    \14\ See Commentary .11(e) to Rule 1012; Rule 1101A(b)(vi)(E).
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    For example, assume ABC is trading at $56.54 and the monthly
expiration contract is three weeks to expiration. Assume also that the
Exchange has listed all available STO expirations and thus has STOs
listed on ABC for weeks one, two, four, five, and six. Each of the five
weekly ABC expiration dates can be listed with strike prices in $0.50
intervals, including, for example, the $56.50 at-the-money strike.
Because the monthly expiration contract has three weeks to expiration,
however, the near-the-money strikes must be listed in $5 intervals
unless those options are eligible for one of the Exchange's other
strike price programs. In this instance, that would mean that investors
would be limited to choosing, for example, between the $55 and $60
strike prices instead of the $56.50 at-the-money strike available for
STOs. This is the case even though contracts on the same option class
that expire both several weeks before and several weeks after the
monthly expiration are eligible for finer strike price intervals. Under
the proposed rule change, the Exchange would be permitted to list the
related non-short term option on ABC, which is less than a month to
expiration, in the same strike price intervals as allowed for STOs.
Thus, the Exchange would be able to list, and investors would be able
to trade, all expirations described above with the same uniform $0.50
strike price interval.
    As proposed, the Exchange would be permitted to begin listing the
monthly expiration contract in these narrower intervals at any time
during the month prior to expiration, which begins on the first trading
day after the prior month's expiration date, subject to the provisions
of Exchange rules. For example, since the April 2014 monthly option
expired on Saturday, April 19, the proposed rule change would allow the
Exchange to list the May 2014 monthly option in short term option
intervals starting Monday, April 21.
    The Exchange believes that introducing consistent strike price
intervals for STOs and related non-STOs during the month prior to
expiration will benefit investors by giving them more flexibility to
closely tailor their investment decisions. The Exchange also believes
that the proposed rule change will provide the investing public and
other market participants with additional opportunities to hedge their
investments, thus allowing these investors to better manage their risk
exposure.

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the requirements of the Act and the rules and regulations
thereunder that are applicable to a national securities exchange, and,
in particular, with the requirements of Section 6(b) of the Act.\15\ In
particular, the proposal is consistent with Section 6(b)(5) of the
Act,\16\ because it is designed to promote just and equitable
principles of trade, remove impediments to and perfect the mechanisms
of a free and open market and a national market system and, in general,
to protect investors and the public interest.
---------------------------------------------------------------------------

    \15\ 15 U.S.C. 78f(b).
    \16\ 15 U.S.C. 78f(b)(5).
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    As noted above, standard expiration options currently trade in
wider intervals than their weekly counterparts, except during the week
prior to expiration. This creates a situation where contracts on the
same option class that expire both several weeks before and several
weeks after the standard expiration are eligible to trade in strike
price intervals that the standard expiration contract is not. When the
Exchange originally filed to list related non-STOs in the same
intervals as STOs in the same option class during the week prior to
expiration,\17\ the Exchange was limited to listing one short term
option expiration date at a time. Thus, there was no inconsistency
between standard expiration contracts, which traded in finer intervals
in the week prior to expiration, and STOs, which were only listed on
the week prior to expiration. The STO Program has since grown in
response to customer demand, and the Exchange is now permitted to list
up to five STO expiration dates in addition to standard expiration
options.\18\ There is continuing strong customer demand to have the
ability to execute hedging and trading strategies in the finer strike
price intervals available in STOs, and the Exchange believes that the
proposed rule change will increase market efficiency by harmonizing
strike price intervals for contracts that are close to expiration,
whether those contracts happen to be listed pursuant to weekly or
monthly expiration cycles.
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    \17\ See Securities Exchange Act Release No. 67753 (August 29,
2012), 77 FR 54635 (September 5, 2012) (SR-Phlx-2012-78) (approval
order); and 67446 (July 16, 2012), 77 FR 42780 (June 20, 2012) (SR-
Phlx-2012-78) (notice of filing).
    \18\ See Securities Exchange Act Release No. 70116 (August 5,
2013), 78 FR 48754 (August 9, 2013) (SR-Phlx-2013-79) (notice of
filing and immediate effectiveness).
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    The Exchange notes that, in addition to listing standard expiration
contracts in STO intervals during the expiration week, it already
operates several programs that allow for strike price intervals for
standard expiration contracts that range from $0.50 to $2.50.\19\ The
Exchange believes that each of these programs has been successful but
notes that limitations on the number of option classes that may be
selected for each of these programs means that many standard expiration
contracts must still be listed in wider intervals than their short term
option counterparts. For example, the $0.50 strike price program, which
offers the narrowest strike price interval, only permits the Exchange
to designate up to 20 option classes to trade in $0.50 intervals in
addition to option classes selected by other exchanges that employ a
similar program.\20\ Thus, the proposed rules are necessary to fill the
gap between strike price intervals allowed for STOs and related non-
STOs. The Exchange believes that the proposed rule change, like the
other strike price programs currently offered by the Exchange, will
benefit investors by giving them more flexibility to closely tailor
their investment and hedging decisions. Moreover, the proposed rule
change is consistent with changes proposed by other exchanges.\21\
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    \19\ See supra note 9 [sic].
    \20\ See Commentary .05(a) to Rule 1012.
    \21\ See Securities Exchange Act Release No. 72098 (May 6,
2014), 79 FR 27006 (May 12, 2014) (SR-ISE-2014-23) (notice of
filing).
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    With regard to the impact of this proposal on system capacity, the
Exchange has analyzed its capacity and represents that it and the
Options Price Reporting Authority (``OPRA'') have the necessary systems
capacity to handle any potential additional traffic associated with
this proposed rule change. The Exchange believes that its members will
not have a capacity issue as a result of this proposal. The Exchange
also represents that it does not believe this expansion will cause
fragmentation of liquidity.

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. To the contrary, the
Exchange believes that the proposed rule change will result in
additional investment options and opportunities to achieve the
investment objectives of market participants seeking efficient trading
and hedging vehicles, to the benefit of investors, market participants,
and the marketplace in general. Specifically, the Exchange believes
that investors will benefit from the availability of strike price
intervals in standard expiration contracts that match the intervals
currently permitted for STOs with a similar time to expiration.

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

    No written comments were either solicited or received.

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

    Because the 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, the proposed rule change has become effective
pursuant to Section 19(b)(3)(A) of the Act \22\ and Rule 19b-4(f)(6)
thereunder.\23\
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    \22\ 15 U.S.C. 78s(b)(3)(A).
    \23\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written
notice of its intent to file the proposed rule change, along with a
brief description and the 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.
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    The Exchange has asked the Commission to waive the 30-day operative
delay so that the proposal may become operative immediately upon
filing. The Exchange stated that waiver of this requirement would allow
STOs to be traded on the Exchange in a manner similar to other markets,
in a competitive manner and without interruption. For this reason, the
Commission believes that the proposed rule change presents no novel
issues and that waiver of the 30-day operative delay is consistent with
the protection of investors and the public interest; and will allow the
Exchange to remain competitive with other exchanges. Therefore, the
Commission designates the proposed rule change to be operative upon
filing.\24\
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    \24\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the

public interest, for the protection of investors, or otherwise in
furtherance of the purposes of the Act. If the Commission takes such
action, the Commission 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 email to<EMAIL_ADDRESS>Please include
File Number SR-Phlx-2014-41 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-Phlx-2014-41. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-Phlx-2014-41 and should be
submitted on or before July 29, 2014.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\25\
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    \25\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2014-15793 Filed 7-7-14; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 85, Number 169 (Monday, August 31, 2020)]
[Notices]
[Page 53840]
[FR Doc No: 2020-19134]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-4558-DR; Docket ID FEMA-2020-0001]

California; Amendment No. 1 to Notice of a Major Disaster
Declaration

AGENCY: Federal Emergency Management Agency, Homeland Security (DHS).

ACTION: Notice.

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SUMMARY: This notice amends the notice of a major disaster declaration
for the State of California (FEMA-4558-DR), dated August 22, 2020, and
related determinations.

DATES: This amendment was issued August 24, 2020.

FOR FURTHER INFORMATION CONTACT: Dean Webster, Office of Response and
Recovery, Federal Emergency Management Agency, 500 C Street SW,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The notice of a major disaster declaration
for the State of California is hereby amended to include the following
area among those areas determined to have been adversely affected by
the event declared a major disaster by the President in his declaration
of August 22, 2020.
    Monterey County for Individual Assistance and assistance for
emergency protective measures (Category B), including direct federal
assistance under the Public Assistance program.

    The following Catalog of Federal Domestic Assistance Numbers
(CFDA) are to be used for reporting and drawing funds: 97.030,
Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis
Counseling; 97.033, Disaster Legal Services; 97.034, Disaster
Unemployment Assistance (DUA); 97.046, Fire Management Assistance
Grant; 97.048, Disaster Housing Assistance to Individuals and
Households In Presidentially Declared Disaster Areas; 97.049,
Presidentially Declared Disaster Assistance--Disaster Housing
Operations for Individuals and Households; 97.050 Presidentially
Declared Disaster Assistance to Individuals and Households--Other
Needs; 97.036, Disaster Grants--Public Assistance (Presidentially
Declared Disasters); 97.039, Hazard Mitigation Grant.

Pete Gaynor,
Administrator, Federal Emergency Management Agency.
[FR Doc. 2020-19134 Filed 8-28-20; 8:45 am]
BILLING CODE 9111-23-P