[Federal Register Volume 78, Number 225 (Thursday, November 21, 2013)]
[Notices]
[Pages 69900-69904]
[FR Doc No: 2013-27905]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-70890; File No. SR-NSX-2013-21]

Self-Regulatory Organizations; National Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Its Fee and Rebate Schedule

November 15, 2013.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act '' or ``Exchange Act'') \1\ and Rule 19b-4 thereunder,\2\
notice is hereby given that on November 1, 2013, National Stock
Exchange, Inc. (``NSX[supreg]'' or ``Exchange'') filed with the
Securities and Exchange Commission (``SEC'' or ``Commission'') the
proposed rule change, as described in Items I, II, and III below, which
Items have been prepared by the Exchange. The Commission is publishing
this notice to solicit comment 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 proposing to amend its Fee and Rebate Schedule (the
``Fee Schedule'') issued pursuant to Exchange Rule 16.1(a) in order to:
change certain fees and rebates applicable to executions occurring
through the ``Auto Ex'' mode of interaction (``Auto Ex Mode'') \3\ with
the NSX's trading system (the ``System''); \4\ and discontinue charging
certain fees to Exchange Equity Trading Permit (``ETP'') \5\ Holders
that are approved to use the Order Delivery mode of interaction with
the System (``Order Delivery Mode'').\6\ The Exchange is also proposing
to eliminate the rebate of $0.0045 per executed share for Double Play
Orders \7\ in five select securities (the ``Select Securities'')
directed to the CBOE Stock Exchange, Inc. (``CBSX'') and pay the
standard rebate of $0.0015 per executed share applicable to Double Play
Orders in all other securities priced at $1.00 and above. The Exchange
also proposes to make certain non-material changes to the relevant text
of the Fee Schedule to make certain terms used therein consistent with
terms used in the Exchange's rules.
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    \3\ See Exchange Rule 11.13 (Proprietary and Agency Orders;
Modes of Order Interaction), paragraph(b)(1).
    \4\ Under NSX Rule 1.5, the term ``System'' is defined as the
``the electronic securities communications and trading facility . .
.through which orders of Users are consolidated for ranking and
execution.''
    \5\ NSX Rule defines the term ``ETP'' as an Equity Trading
Permit issued by the Exchange for effecting approved securities
transactions on the Exchange's Trading Facilities.
    \6\ See Exchange Rule 11.13(b)(2).
    \7\ NSX Rule 11.11(c)(10) defines a ``Double Play Order'' as a
market or limit order for which an ETP Holder instructs the System
to route to designated away Trading Centers which are approved by
the Exchange from time to time without first exposing the order to
the NSX Book. A Double Play Order that is not executed in full after
routing away receives a new time stamp upon return to the Exchange
and is ranked and maintained in the NSX Book in accordance with Rule
11.14(a).
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    The text of the proposed rule change is available on the Exchange's
Web site at www.nsx.com, at the Exchange's principal office, 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 statutory 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 parts 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 Section I. (Auto Ex Mode); Section
II. (Order Delivery); Section III.A. (Order Routing All Tapes); and
Section IV. (Regulatory Fee) of its Fee Schedule to: implement new fees
and rebates applicable to executions occurring through Auto Ex Mode;
change Section II, Pricing Option A for Order Delivery Mode to
discontinue a fee paid by ETP Holders approved to use the Order
Delivery Mode (``Order Delivery Users'') \8\ for each Order Delivery
Notification in securities priced below $1.00; change Section III.A. to
eliminate a rebate of $0.0045 per executed share paid to ETP Holders
that direct Double Play Orders in the Select Securities to CBSX; \9\
and, change Section IV. to discontinue a fee paid by Order Delivery
Users for quotation updates in securities priced under $1.00. The
Exchange also proposes to make certain non-material changes to the
relevant text of the Fee Schedule to make certain terms used therein
consistent with terms used in the Exchange's rules.
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    \8\ A ``User'' is defined in Exchange Rule 1.5 as ``. . . any
ETP Holder or Sponsored Participant who is authorized to obtain
access to the System. . . .''
    \9\ The Select Securities are Apple Inc. (``AAPL''); Google Inc.
(``GOOG''); Bank of America Corp (``BAC''); Nokia Corporation
(``NOK''); and Sirius Radio, Inc. (``SIRI'').
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Amended Fees and Rebates Applicable to Auto Ex Mode
    The Exchange is proposing several changes to the fees and rebates
applicable under both the Fixed Fee Schedule and the Variable Fee
Schedule applicable to executions occurring through the use of the
Exchange's Auto Ex Mode. Specifically, the Exchange is proposing to
adjust the volume thresholds that must be met before an ETP Holder can
be eligible to pay the lowest fees for adding liquidity under the Fixed
Fee Schedule. Currently, an ETP Holder must execute average daily
volume (``ADV'') of at least 50,000 shares of added liquidity during a
calendar month to qualify for the lowest fees under the Fixed Fee
Schedule. The Exchange is proposing to change this volume threshold to
ADV of at least 25,000 executed shares of added liquidity during a
calendar month.
    Along with this change to the qualifying volume threshold, the
Exchange is proposing to adjust certain fees and rebates under both the
Variable and Fixed Schedules. For ETP Holders with ADV within Tier 1
(up to 500,000 executed shares), the Exchange will reduce the fee for
removing liquidity under the Fixed Fee Schedule from $0.0030 to
$0.0029. In the Variable Fee Schedule, the Exchange proposes to
increase the rebate to add liquidity in Tier 4 (ADV greater than \10\
[sic] 5 million shares but less than 10 million shares) from $0.0028
under the current schedule to $0.0029. For Tier 5, which the Exchange
proposes to amend and redefine as ADV of greater than [sic] 10 million
shares executed, the Exchange proposes to increase the rebate for
adding liquidity under the Variable Fee Schedule from $0.0029 to
$0.0031.
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    \10\ The Commission notes that the corresponding rule text
refers to amounts greater than or equal to for the 5, 10, and 20
million share thresholds referenced herein, and that the rule text
is controlling.
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    The Exchange is further proposing to eliminate Tier 6, defined in
the current Fixed and Variable Fee Schedules as ADV in excess of [sic]
20 million shares. The Exchange believes that the proposed amendment to
increase the liquidity rebate under Tier 5 in the Variable Fee Schedule
provides an appropriate rebate for ETP Holders with ADV in excess of 10
million shares, eliminating the need for the additional Tier 6 pricing.
In addition, the Tier 5 ADV amounts are more reflective of the actual
volume totals currently executed by ETP Holders. The Exchange submits
that eliminating Tier 6 for both the Fixed and Variable Fee Schedules
operates to simplify the Fee Schedule and provide a fee and rebate
structure that better aligns with actual volume totals.
    Additionally, the Exchange is proposing that, for Tape B securities
\11\ s only, each ETP Holder that executes ADV of at least 25,000
shares of added liquidity in Auto Ex Mode during a calendar month will
receive a rebate of $0.0034 under the Fixed Fee Schedule per executed
share, to apply across all ADV tiers of the Fixed Fee schedule. This
amendment is intended to provide added incentive to ETP Holders to add
liquidity in Tape B symbols on the Exchange, thereby increasing trading
volumes and providing better execution opportunities for ETP Holders
and their customers while maximizing the rebates available to ETP
Holders for posting liquidity on the Exchange.
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    \11\ The term ``Tape B'' securities refers to the designation
assigned in the Consolidated Tape Association (``CTA'') Plan for
reporting trades with respect to securities in Network B, which are
securities listed on NYSE MKT, formerly NYSE Amex, and other
exchanges. Tape B securities do not include securities listed on the
New York Stock Exchange, Inc. or the NASDAQ Stock Market LLC.
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    The Exchange believes that the proposed changes to certain fees and
rebates applicable to Auto Ex Mode will operate to incentivize ETP
Holders to post additional liquidity on the Exchange, increase trading
opportunities for ETP Holders and their customers, and enhance the
efficiency and cost-effectiveness of trading on the Exchange.
Amended Rebate for Double Play Orders in the Select Securities
    The Exchange is proposing to amend the Fee Schedule to eliminate
the enhanced rebate of $0.0045 per executed share that the Exchange
currently pays to ETP Holders that direct Double Play Orders in the
Select Securities to CBSX. Double Play Orders routed to and executed on
CBSX will be subject to the rebate program applicable to all other
securities priced at $1.00 and above under Section III.A. of the Fee
Schedule, which provides for a rebate of $0.0015 per executed share.
    The Exchange implemented the enhanced rebate of $0.0045 for
executions of Double Play Orders in the Select Securities directed to
CBSX as of July 1, 2013.\12\ As of September 3, 2013, the Exchange
amended the Fee Schedule to remove AMD and MU from

the list of Select Securities and add AAPL and GOOG.\13\
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    \12\ The Exchange filed for immediate effectiveness amendments
to its Fee Schedule, effective July 1, 2013, that: Established the
$0.0045 per share rebate for executions of Double Play Orders in the
Select Securities on CBSX; clarified that the unexecuted portion of
a Double Play Order that is returned to NSX after its initial route
to CBSX and subsequently executed on the NSX or routed away in
accordance with NSX Rule 11.15(a)(ii) is subject to the standard Fee
Schedule; and clarified that the $0.0030 per share routing fee
applies only to orders routed by the Exchange in accordance with NSX
Rule 11.15(a)(ii). The Select Securities initially identified
included Advanced Micro Devices, Inc. (``AMD'') and Micron
Technology, Inc. (``MU'') in addition to BAC, NOK, and SIRI. See
Exchange Act Release No. 34-69941; 78 FR 41966; SR-NSX-2013-14.
    \13\ See Exchange Act Release No. 34-70525; 78 FR 60954; SR-NSX-
2013-18.
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    In its previous filings with respect to the enhanced rebates for
Double Play Orders directed to and executed on CBSX, the Exchange noted
that CBSX had determined the list of Select Securities and, because the
Exchange intended to pass through the rebates to ETP Holders that
directed Double Play Orders in the Select Securities to CBSX, it made
conforming changes to the NSX Fee Schedule. CBSX has determined that,
at present, it will not pay the enhanced rebate of $0.0045 per executed
share for any of the symbols that comprise the list of Select
Securities. The enhanced per share rebate for executed Double Play
Orders in the Select Securities was an attempt to increase liquidity
provision in these symbols, but such increased liquidity was not
attained. The Exchange is therefore making conforming changes to the
Fee Schedule to remove all of the symbols that currently comprise the
list of Select Securities and will pay the rebate of $0.0015 per
executed share applicable to all other routed orders in securities
priced at $1.00 and above under Section III.A. of the Fee Schedule. If
in the future the Exchange seeks to identify securities for the Select
Securities list and apply a different fee and rebate program, it would
do so upon a filing with the Commission pursuant to section 19(b) of
the Act.
Amended Fees Applicable to Order Delivery Mode
    The Exchange is further proposing to amend the Fee Schedule with
respect to Order Delivery Mode by, first, eliminating securities priced
below $1.00 from the monthly volume threshold of 1.5 million delivered
Order Delivery Notifications that must be met before an Order Delivery
User is no longer subject to the $0.35 fee per Order Delivery
Notification fee. As a result, all Order Delivery Notifications in
securities priced below $1.00 will not be subject to the Order Delivery
Notification fee. Second, the Exchange is proposing to eliminate the
quotation update fee in securities priced below $1.00, applicable to
both new and existing Order Delivery Users. The Exchange states that it
is proposing these changes to better align the fees and rebates
applicable to Order Delivery Mode; to provide a more cost-effective
structure; and to encourage greater activity in securities priced below
$1.00 through the Order Delivery Mode.
    Currently, under Section II. Pricing Option A of the Fee Schedule,
the Exchange does not pay a transaction rebate or a market data rebate
for securities priced under $1.00, but assesses a fee of $0.35 for each
Order Delivery Notification, up to 1.5 million Order Delivery
Notifications per month, that the System delivers to Order Delivery
Users for potential execution against a posted displayed or undisplayed
order. The Exchange states that, by proposing to eliminate from this
volume threshold securities priced below $1.00 the and charge no fee
per Order Delivery Notification for such securities, it is seeking to
balance its Fee Schedule to better align the fees and rebates
applicable to Order Delivery Notifications in sub-dollar securities.
The Exchange states that it is proposing the change to enhance the
incentives for an Order Delivery User to post bids and offers in
securities priced below $1.00 on the NSX Book \14\ since the Order
Delivery User will not be charged the Order Delivery Notification fee
when notified by the Exchange that its posted orders has been matched
by the System for execution against a customer order. The Exchange
makes it clear in the Fee Schedule that Order Delivery Notifications
delivered to the Order Delivery User in securities priced below $1.00
shall not count toward the 1.5 million Order Delivery Notification fee
cap applicable to securities priced at $1.00 and above.
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    \14\ Exchange Rule 1.5 defines the term ``NSX Book'' as ``. . .
the System's electronic file of orders.''
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    The Exchange is also proposing to amend Section IV. of the Fee
Schedule to eliminate the quotation update fee in securities priced
below $1.00, applicable to both new and existing Order Delivery
Users.\15\ This proposed change is also directed at incentivizing Order
Delivery Users to increase their use of Order Delivery Mode for quoting
in securities priced below $1.00 by eliminating the fees that they
would otherwise pay for quotation updates. The Exchange believes that
by providing these incentives to Order Delivery Users, it will
encourage more liquidity in securities priced below $1.00 on the
Exchange, provide new opportunities for ETP Holders to interact with
Order Delivery Users' quoted interest in securities priced below $1.00,
and provide for a simpler and more cost-efficient fee and rebate
structure.
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    \15\ For securities priced at $1.00 and above, the Exchange will
continue to apply a quotation update fee of $0.000467 to an Order
Delivery User's first 150 million quotation updates each calendar
month, with no fee applied after this threshold is met. New Order
Delivery Users will be charged a reduced fee of $0.000667 per
quotation update in securities priced at $1.00 and above for the
first three months of operation as an Order Delivery User.
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    Finally, the Exchange is also proposing to change the Fee Schedule
to substitute references to an ``ETP Holder'' with the term ``Order
Delivery User'' and describing such User as an ETP Holder approved for
Order Delivery Mode. This non-material change will operate to provide
clarity in the Fee Schedule and tracks language currently used in the
Exchange's rules.
2. Statutory Basis
    The Exchange believes that the proposed changes to the Fee Schedule
are consistent with the provisions of Section 6(b) of the Act in
general,\16\ and Sections 6(b)(4) \17\ and 6(b)(5) \18\ of the Act in
particular. With respect to the requirements of Section 6(b)(4) of the
Act, the Exchange submits that all of the proposed changes, both for
Auto Ex Mode and Order Delivery Mode, provide for the equitable
allocation of reasonable dues, fees and other charges among ETP
Holders, issuers and persons using the Exchange's facilities.
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    \16\ 15 U.S.C. 78f(b).
    \17\ 15 U.S.C. 78f(b)(4).
    \18\ 15 U.S.C. 78f(b)(5).
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    Specifically, the Exchange believes that the proposed fee and
rebate changes for executions in Auto Ex Mode under the proposed
revisions Section I. of the Fee Schedule are consistent with the
provisions of Section 6(b)(4) of the Act in that they constitute an
equitable allocation of reasonable dues and fees among ETP Holders and
their customers and market participants seeking pools of liquidity. All
ETP Holders are eligible to select the proposed pricing model and may
do so at their discretion. The Exchange believes that its proposal to
change the ADV threshold in the Fixed Fee Schedule from 50,000 shares
to 25,000 shares of added liquidity during a calendar month and to
adjust the fees for removing liquidity and the rebates for adding
liquidity in the Fixed and Variable Fee Schedules, with the amounts
varying depending on the volume tiers into which the ETP Holder's
executed volume falls, are consistent with Section 6(b)(5) of the Act
in that it is intended to remove impediments to and perfect the
mechanism of a free and open market and a national market system and,
in general, protect investors and the public interest, by encouraging
greater liquidity on the Exchange, potentially improving execution
quality and price-discovery, and promoting an efficient and cost-
effective means of trading.

    Similarly, the Exchange submits that its proposal to provide a
rebate of $0.0034 per executed share to ETP Holders that execute ADV of
at least 25,000 shares adding liquidity in Tape B securities, with such
rebate to apply across all volume tiers, is intended to attract more
volume in those securities to the Exchange, provide additional
execution opportunities for ETP Holders seeking to remove that
liquidity, and to promote narrower spreads and better execution
quality. The Exchange believes that these goals are consistent with
Section 6(b)(5) of the Act in that they promote the maintenance of fair
and orderly markets, operate to perfect the mechanism of a free and
open market and national market system, and are consistent with the
protection of investors and the public interest.
    The Exchange states that its proposed amendment to Section I. of
the Fee Schedule to eliminate volume Tier 6 is consistent with the
Section 6(b) of the Act and Sections 6(b)(4) and 6(b)(5) in that it
better aligns the Fee Schedule with the trading volume of the Exchange,
thereby enhancing transparency and clarity, while providing incentives
through the proposed amendments to Section I. to promote additional
liquidity and increase trading volumes. This change is consistent with
both the provisions of Section 6(b)(4) requiring an equitable
allocation of reasonable dues and fees among ETP Holders, issuers and
other persons using the Exchange's facilities, and the provisions of
section 6(b)(5) requiring that the rules of the Exchange promote just
and equitable principles of trade.
    The Exchange submits that its proposal amend Section III.A. of the
Fee Schedule to remove the five symbols that currently comprise the
list of Select Securities, and not presently offer an enhanced rebate
for any Double Play Orders in Select Securities directed to and
executed on CBSX, is consistent with Section 6(b)(4) of the Act in that
it is an equitable allocation of reasonable dues and fees among ETP
Holders, issuers, and persons using the facilities of the Exchange. The
Exchange's proposed amendment will remove the enhanced rebates
applicable to executed Double Play Orders in the Select Securities
directed to CBSX. Any such executions in the symbols that formerly
comprised the list of Select Securities will now be subject to the fee
and rebate schedule applicable to all securities priced at $1.00 and
above, which will be assessed equally to all ETP Holders and persons
using the facilities of the Exchange. The Exchange believes that it is
not inconsistent with Section 6 of the Act to eliminate the enhanced
rebates for executions in Double Play Orders in the five symbols that
comprised the Select Securities list when the desired liquidity that
the enhanced rebate was intended to incentivize in those symbols is not
attained.
    The Exchange next submits that, with respect to the proposed
elimination of the fees for Order Delivery Notifications in securities
priced below $1.00, its proposal is consistent with Section 6 of the
Act in that it applies equally to all Order Delivery Users with posted
interest in such securities on the NSX Book. The Exchange further
submits that its proposed elimination of the Order Delivery
Notification fee in securities priced below $1.00 is consistent with
Section 6(b)(4) in that it is reasonable to differentiate securities
priced under $1.00 in determining a reasonable fee and rebate
structure. In this instance, the Exchange is proposing an amendment
that would eliminate the fee that the Exchange currently charges Order
Delivery Users for each Order Delivery Notification in a sub-dollar
security, up to 1.5 million notifications per month. Under the current
Fee Schedule, this is the same fee that the Exchange charges Order
Delivery Users for each order Delivery Notification in a security
priced at $1.00 and above, up to 1.5 million notifications per month.
Currently, Order Delivery Users receive transaction and market data
rebates for securities priced at $1.00 above while no such rebates are
available for securities priced below $1.00.
    The Exchange believes that by eliminating the Order Delivery
Notification fee for securities priced below $1.00 it will incentivize
Order Delivery Users to post more interest in such securities on the
NSX Book, thereby potentially increasing liquidity in such securities
and providing more execution opportunities on the Exchange. It will
also provide a potentially more advantageous fee and rebate structure
for Order Delivery Users, who under the current Fee Schedule are
subject to the same fees and volume thresholds for securities priced at
or above $1.00 and those priced under $1.00, but without the ability to
receive the rebates offered by the Exchange for securities priced at
$1.00 and above. For securities priced at $1.00 and above, the 1.5
million Order Delivery Notification fee cap will remain in place.
    The Exchange submits that the proposed fee structure for Order
Delivery Notifications and quotation updates by Order Delivery Users in
securities priced below $1.00 is consistent with Section 6(b)(5) of the
Act in that it does not permit unfair discrimination between ETP
Holders, issuers and customers. The Exchange is proposing the
amendments with the goals of providing a balanced fee and rebate
structure for order Delivery Users and incentivizing Order Delivery
Users to post more liquidity in securities priced under $1.00 on the
Exchange. There are other markets and execution venues with different
pricing mechanisms offered to attract liquidity to those venues. The
Exchange submits that in this highly competitive environment, its
proposal to eliminate the Order Delivery Notification and quotation
update fees in securities priced under $1.00, applicable to Order
Delivery Users, provides alternatives to ETP Holders and their
customers, while striving to increase liquidity in securities priced
under $1.00 on the Exchange.

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 submits that
its proposals to enhance the rebates available to ETP Holders using
Auto Ex Mode; and eliminate fees paid by Order Delivery Users for Order
Delivery Notifications and quotation updates in securities priced below
$1.00, are reasonable approaches to incentivize additional order flow
in a highly competitive environment and therefore does not present a
burden on competition.
    The proposed rule change to remove the five securities from the
list of Select Securities will not impose any burden on competition
that is not necessary or appropriate in furtherance of the purposes of
the Act because the proposed changes will subject the five symbols on
the list to the same fee and rebate structure that is now applied to
all other securities in which orders are routed.
    Moreover, the Exchange is seeking to provide a fee and rebate
structure that appropriately addresses the balance between fees and
rebates and provides an economical and cost-effective means for
executing transactions in the Exchange's market. To this extent, the
Exchange submits that the proposed amendments to the Fee Schedule
operate to enhance competition among competing trading venues and
provide more choices for ETP Holders and their customers.

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

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

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

    The proposed rule change has taken effect upon filing pursuant to
Section 19(b)(3)(A)(ii) of the Exchange Act \19\ and subparagraph
(f)(2) of Rule 19b-4.\20\ 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.
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    \19\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \20\ 17 CFR 240.19b-4.
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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-NSX-2013-21 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-NSX-2013-21. 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 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 available publicly. All
submissions should refer to File Number SR-NSX-2013-21, and should be
submitted on or before December 12, 2013.
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    \21\ 17 CFR 200.30-3(a)(12).

For the Commission, by the Division of Trading and Markets, pursuant
to delegated authority.\21\
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-27905 Filed 11-20-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 79, Number 15 (Thursday, January 23, 2014)]
[Notices]
[Pages 3827-3828]
[FR Doc No: 2014-01305]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2010-D-0319]

Guidance for Industry and Food and Drug Administration Staff on
Dear Health Care Provider Letters: Improving Communication of Important
Safety Information; Availability

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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SUMMARY: The Food and Drug Administration (FDA) is announcing the
availability of a guidance for industry and FDA staff entitled ``Dear
Health Care Provider Letters: Improving Communication of Important
Safety Information.'' This guidance offers specific recommendations to
industry on the content and format of Dear Health Care Provider (DHCP)
letters. These letters are sent by manufacturers or distributors to
health care providers to communicate an important drug warning, a
change in prescribing information, or a correction of misinformation in
prescription drug promotional labeling or advertising. This guidance
provides recommendations on when to use a DHCP letter, the types of
information to include in the DHCP letter, how to organize the
information so that it is communicated effectively to health care
providers, and formatting techniques to make the information more
accessible. This guidance finalizes the draft guidance issued in
November 2010.

DATES: Submit either electronic or written comments on Agency guidances
at any time.

ADDRESSES: Submit written requests for single copies of this guidance
to the Division of Drug Information, Center for Drug Evaluation and
Research, Food and Drug Administration, 10903 New Hampshire Ave., Bldg.
51, Rm. 2201, Silver Spring, MD 20993-0002; or the Office of
Communication, Outreach and Development (HFM-40), Center for Biologics
Evaluation and Research, Food and Drug Administration, 1401 Rockville
Pike, suite 200N, Rockville, MD 20852-1448. Send one self-addressed
adhesive label to assist that

office in processing your requests. See the SUPPLEMENTARY INFORMATION
section for electronic access to the guidance document.
    Submit electronic comments on the guidance to http://www.regulations.gov. Submit written comments to the Division of Dockets
Management (HFA-305), Food and Drug Administration, 5630 Fishers Lane,
Rm. 1061, Rockville, MD 20852.

FOR FURTHER INFORMATION CONTACT: Lori A. Bickel, Center for Drug
Evaluation and Research, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 51, Rm. 6353, Silver Spring, MD 20993, 301-796-
0210; or Stephen Ripley, Center for Biologics Evaluation and Research
(HFM-17), Food and Drug Administration, 1401 Rockville Pike, suite
200N, Rockville, MD 20852-1448,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Background

    FDA is announcing the availability of a guidance for industry and
FDA staff entitled ``Dear Health Care Provider Letters: Improving
Communication of Important Safety Information.'' This document offers
specific guidance to industry and FDA staff on the content and format
of DHCP letters. These letters are sent by manufacturers or
distributors to health care providers to communicate an important drug
warning, a change in prescribing information, or a correction of
misinformation in prescription drug promotional labeling or
advertising. This guidance gives specific instruction on what should
and should not be included in DHCP letters. To date, some DHCP letters
have been too long, have contained promotional material, or otherwise
have not met the goals set forth in the applicable regulation (21 CFR
200.5). In some cases, health care providers have not been aware of
important new information, and have been unable to communicate it to
patients, because the letters' content and length have made it
difficult to find the relevant information. In addition, letters have
sometimes been sent for the wrong reasons.
    In addition to content and format recommendations for each type of
DHCP letter, the guidance also includes advice on consulting with FDA
to develop a DHCP letter, when to send a letter, what type of letter to
send, and conducting an assessment of the letter's impact.
    In the Federal Register of November 12, 2010 (75 FR 69449), FDA
announced the availability of a draft guidance for industry and FDA
staff entitled ``Dear Health Care Provider Letters: Improving
Communication of Important Safety Information.'' The notice gave
interested persons an opportunity to comment by January 11, 2011. The
Agency received several comments from health care providers, firms, and
other groups. We have carefully considered the comments and, where
appropriate, have made corrections, added information, or clarified
information in the guidance in response to the comments or on our own
initiative. This guidance finalizes the draft guidance issued in
November 2010.
    This guidance is being issued consistent with FDA's good guidance
practices regulation (21 CFR 10.115). The guidance represents the
Agency's current thinking on ``Dear Health Care Provider Letters:
Improving Communication of Important Safety Information.'' It does not
create or confer any rights for or on any person and does not operate
to bind FDA or the public. An alternative approach may be used if such
approach satisfies the requirements of the applicable statutes and
regulations.

II. Paperwork Reduction Act of 1995

    This guidance contains information collection provisions that are
subject to review by the Office of Management and Budget (OMB) under
the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520). The
collections of information in this guidance were approved under OMB
control number 0910-0754.

III. Comments

    Interested persons may submit either electronic comments regarding
this document to http://www.regulations.gov or written comments to the
Division of Dockets Management (see ADDRESSES). It is only necessary to
send one set of comments. Identify comments with the docket number
found in brackets in the heading of this document. Received comments
may be seen in the Division of Dockets Management between 9 a.m. and 4
p.m., Monday through Friday, and will be posted to the docket at http://www.regulations.gov.

IV. Electronic Access

    Persons with access to the Internet may obtain the document at
either http://www.fda.gov/Drugs/GuidanceComplianceRegulatoryInformation/Guidances/default.htm, http://www.fda.gov/BiologicsBloodVaccines/GuidanceComplianceRegulatoryInformation/Guidances/default.htm, or
http://www.regulations.gov.

    Dated: January 16, 2014.
Leslie Kux,
Assistant Commissioner for Policy.
[FR Doc. 2014-01305 Filed 1-22-14; 8:45 am]
BILLING CODE 4160-01-P


UNITED STATES ENVIRONMENTAL PROTECTION AGENCY

NATIONAL VEHICLE AND FUEL EMISSIONS LABORATORY

2000 TRAVERWOOD DRIVE

ANN ARBOR, MI  48105-2498

									     OFFICE OF

									AIR AND RADIATION

November 22, 2010

MEMORANDUM

SUBJECT:	Meeting with the Alliance of Automobile Manufacturers
Representatives, October 20, 2010

FROM:	Chris Nevers

		Compliance and Innovative Strategies Division

TO:		EPA Docket # EPA-HQ-OAR-2009-0865

	This memo documents a meeting held on Wednesday, October 20, 2010
between representatives of General Motors and EPA to discuss EPA’s
proposal “Revision to Motor Vehicle Fuel Economy Label”.  The
meeting attendees from the Alliance included Giedrius Ambrozaitis, Tony
D’Ambrosi, Rajinder Dhatt, Steve Fornetti, Dan Frakes, Ross Gatzke,
Matthew Kevnick, Ed Kulik, Will Meschievitz, Donald Nagy, Jessica
Robinson, Joe Supina, Alex Travis, Sahsi Velnati, and Mahmoud Yassine,,
and from EPA included Linc Wehrly and Chris Nevers.

The discussion topics included plug in hybrid range determination and
fuel economy testing procedures and calculations.  The Alliance
requested clarification on the above topics to better comment on the
proposal.


[Federal Register Volume 87, Number 50 (Tuesday, March 15, 2022)]
[Rules and Regulations]
[Page 14404]
[FR Doc No: 2022-05375]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 100

[Docket No. USCG-2022-0132]

Special Local Regulations; Annual Marine Events Within the Eighth
Coast Guard District; Riverfest Power Boat Races

AGENCY: Coast Guard, Department of Homeland Security (DHS).

ACTION: Notification of enforcement of regulation.

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

SUMMARY: The Coast Guard will enforce will enforce special local
regulation for the Riverfest boat races on the Neches River in Port
Neches, TX, from April 29, 2022, through May 1, 2022, to provide for
the safety of life on navigable waterways during this event. Our
regulation for marine events within the Eighth Coast Guard District
identifies the regulated area for this event in Port Neches, TX. During
the enforcement periods, the operator of any vessel in the regulated
area must comply with directions from the Patrol Commander or
designated representative.

DATES: The regulations in 33 CFR 100.801, Table 3, line 4 will be
enforced from 2 p.m. through 6 p.m. on April 29, 2022, and from 8:30
a.m. through 6 p.m. on April 30 and May 1, 2022.

FOR FURTHER INFORMATION CONTACT: If you have questions about this
notification of enforcement, call or email Mr. Scott Whalen, U.S. Coast
Guard; telephone<PHONE_NUMBER>, email [email protected].

SUPPLEMENTARY INFORMATION: The Coast Guard will enforce special local
regulations in 33 CFR 100.801 Table 3, Line 4, for the Port Neches
Riverfest boat races display from 2 p.m. through 6 p.m. on April 29,
2022, and from 8:30 a.m. through 6 p.m. on April 30 and May 1, 2022.
This action is being taken to provide for the safety of life on
navigable waterways during this three day event. Our regulations for
marine events within the Eighth Coast Guard District, Sec.  100.801,
specifies the location of the safety zone for the Riverfest boat races
which encompasses a portions of the Neches River adjacent to Port
Neches Park. During the enforcement period, as reflected in Sec.
100.801, Table 3, if you are the operator of a vessel in the regulated
area you must comply with directions from the Patrol Commander or
designated representative.
    In addition to this notification of enforcement in the Federal
Register, the Coast Guard plans to provide notification of the
enforcement periods via Local Notice to Mariners, Marine Safety
Information Bulletin and Vessel Traffic Service Advisory.

    Dated: March 9, 2022.
Molly A. Wike,
Captain, U.S. Coast Guard, Captain of the Port Marine Safety Zone Port
Arthur.
[FR Doc. 2022-05375 Filed 3-14-22; 8:45 am]
BILLING CODE 9110-04-P