[Federal Register Volume 83, Number 172 (Wednesday, September 5, 2018)]
[Notices]
[Pages 45165-45168]
[FR Doc No: 2018-19148]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83988; File No. SR-NASDAQ-2018-068]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Filing of Proposed Rule Change To Extend the Cutoff Times for
Accepting On Close Orders Entered for Participation in the Nasdaq
Closing Cross

August 29, 2018.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on August 15, 2018, The Nasdaq Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``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 extend the cutoff times for accepting on
close orders entered for participation in the Nasdaq Closing Cross, and
make related changes.
    The text of the proposed rule change is available on the Exchange's
website at http://nasdaq.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 the proposed rule change is to extend the cutoff
times for accepting on close orders entered for participation in the
Nasdaq Closing Cross. The Nasdaq Closing Cross provides a transparent
auction process that determines a single price for the close. As the
equities markets continue to evolve and become more efficient and
automated, the Exchange believes that the current cutoff times are
overly restrictive to market participants that wish to participate in
the Nasdaq Closing Cross and that typically have to tie up on close
interest for ten minutes or more at the end of the trading day to
participate in the cross. Similar to cutoffs provided by other equities
exchanges that operate a closing auction, the Exchange believes that
the proposed cutoff times would give Participants greater control over
their on close orders while still leaving enough time at the end of the
trading day for Participants to react to and offset Imbalances. Last,
the Exchange is proposing to begin disseminating the Order Imbalance
Indicator at the new Closing Cross Cutoff.
Current Cutoff Times
    Generally, Market On Close (``MOC'') \3\ and Limit on Close
(``LOC'') \4\ Orders are accepted today until immediately prior to 3:50
p.m. ET (``Closing Cross Cutoff'') \5\ when the Exchange begins
disseminating an Order Imbalance Indicator \6\ that contains
information about the Nasdaq Closing Cross. Imbalance Only (``IO'')
Orders, on the other hand, are designed to allow Participants to offset
Imbalances, and may therefore be entered until the time of execution of
the Nasdaq Closing Cross, but may not be cancelled or modified at or
after the Closing Cross Cutoff, except to correct legitimate errors as
described below.\7\
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    \3\ A MOC Order is an Order Type entered without a price that
may be executed only during the Nasdaq Closing Cross. See Rule
4702(b)(11).
    \4\ A LOC Order is an Order Type entered with a price that may
be executed only in the Nasdaq Closing Cross, and only if the price
determined by the Nasdaq Closing Cross is equal to or better than
the price at which the LOC Order was entered. See Rule 4702(b)(12).
    \5\ As used in this proposed rule change, the term ``Closing
Cross Cutoff'' refers to the various 3:50 p.m. ET cutoff times
described herein for the Nasdaq Closing Cross, including the regular
cutoff time for entering MOC/LOC Orders described above and the
related cutoff time for cancelling or modifying IO Orders, which is
currently at or after 3:50 p.m. ET in contrast to MOC/LOC Orders
whose cutoff times are immediately prior to 3:50 p.m. ET.
    \6\ ``Order Imbalance Indicator'' means a message disseminated
by electronic means containing information about MOC, LOC, IO, and
Close Eligible Interest and the price at which those orders would
execute at the time of dissemination.
    \7\ See Rule 4702(b)(13)(A).
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    The Exchange also continues to accept LOC Orders between the
Closing Cross Cutoff and immediately prior to 3:55 p.m. ET (``Late
Cutoff'') \8\ provided that there is a First Reference Price.\9\ In
order to promote price stability in the Nasdaq Closing Cross, such LOC
Orders entered during this period are either canceled or re-priced to
the First Reference Price, based on the Participant's instruction, if
the LOC Order's limit price is more aggressive than the First Reference
Price.\10\ Imbalance Only (``IO'') Orders,\11\ meanwhile, are designed
to permit Participants to offset Imbalances and therefore may be
entered until 4:00 p.m. ET when the Exchange executes the Nasdaq
Closing Cross and disseminates the executions via the consolidated
tape.\12\
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    \8\ As used in this proposed rule change, the term ``Late
Cutoff'' refers to the various 3:55 p.m. ET cutoff times described
herein for the Nasdaq Closing Cross, including the cutoff time for
entering the LOC Orders described above and the cutoff time for
correcting legitimate errors in an on close order.
    \9\ ``First Reference Price'' shall mean the Current Reference
Price in the first Order Imbalance Indicator disseminated at or
after 3:50 p.m. ET. See Rule 4754(a)(9).
    \10\ See Rule 4702(b)(12)(A).
    \11\ An IO Order is an Order entered with a price that may be
executed only in the Nasdaq Closing Cross and only against MOC
Orders or LOC Orders. See Rule 4702(b)(13).
    \12\ See Rule 4702(b)(13)(A).
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    Participants may also be able to cancel and/or modify their on
close orders between the Closing Cross Cutoff and immediately prior to
the Late Cutoff in limited circumstances. Specifically, during this
time period: (1) MOC Orders and IO Orders can be cancelled and/or
modified,\13\ and (2) LOC Orders can be cancelled but not modified,\14\
in each case to correct a legitimate error in the order (e.g., Side,
Size, Symbol, or Price, or duplication of an Order).
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    \13\ See Rule 4702(b)(11)(A), (13)(A). As provided in these
rules, MOC and IO Orders cannot be cancelled or modified at or after
the Late Cutoff for any reason.
    \14\ See Rule 4702(b)(12)(A).
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Proposed Cutoff Times
    The Exchange now proposes to change the Closing Cross Cutoff to
3:55 p.m. ET and the Late Cutoff to 3:58 p.m. ET.\15\ The Exchange
believes that this

proposed change will enhance the experience provided to market
participants who will be able to enter and interact with their on close
orders later in the trading day.
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    \15\ The Exchange proposes to reflect the proposed cutoff times
throughout the Nasdaq rulebook, including Rule 4702(b)(11)-(13),
which defines MOC, LOC, and IO Orders, as well as Rules 4754(a)(9),
(b)(1) and (b)(7)(B), which describe the Nasdaq Closing Cross. With
the changed cutoff times, the Exchange will reject MOC Orders
entered after the 3:55 p.m. ET cutoff, as described in proposed Rule
4702(b)(11)(B), and will reject LOC Orders and Closing Cross/
Extended Hours Orders entered at or after 3:58 p.m. ET, as described
in proposed Rule 4702(b)(12)(B).
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    The Nasdaq Closing Cross was established by the Exchange in 2004 to
create a more robust close that would allow for price discovery, and an
execution that would result in an accurate, tradable closing price.\16\
While the Exchange has made changes to the Nasdaq Closing Cross in the
fourteen years since it was established, including by recently
permitting LOC Orders to be entered until the Late Cutoff in certain
circumstances, the normal Closing Cross Cutoff has remained at 3:50
p.m. ET. At the same time, the equities markets have become more
efficient and automated. The Exchange therefore no longer believes that
ten minutes is needed for market participants to react to and resolve
Imbalances in the Nasdaq Closing Cross. As a result, the Exchange is
proposing to extend the Closing Cross Cutoff time to 3:55 p.m. ET,
which is consistent with the cutoff time provided in the CBOE BZX
Exchange, Inc. (``BZX'') closing auction.\17\ While other exchanges
operate closing auctions with various cutoff times as late as 3:59 p.m.
ET,\18\ the Exchange believes that a 3:55 p.m. ET Closing Cross Cutoff
strikes the appropriate balance for the Nasdaq Closing Cross in today's
trading environment.
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    \16\ See Securities Exchange Act Release Nos. 48878 (December 4,
2003), 68 FR 69098 (December 11, 2003) (Notice); 49406 (March 11,
2004), 69 FR 12879 (March 18, 2004) (Approval Order) (SR-NASD-2003-
173).
    \17\ See BZX Rule 11.23(c)(1)(A).
    \18\ See infra note 20.
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    The Exchange also continues to believe that it is beneficial to
price discovery to permit Participants to submit LOC Orders after the
regular Closing Cross Cutoff if there is a First Reference Price as
provided in SR-Nasdaq-2017-061. Likewise, the Exchange continues to
believe that it is appropriate to provide a brief period of additional
time for Participants to correct legitimate errors in their orders
entered for participation in the Nasdaq Closing Cross. The Exchange
therefore proposes to extend the Late Cutoff to 3:58 p.m. ET. Other
exchanges also accept similar orders in this timeframe. For example,
BZX offers ``Late-Limit-On-Close Orders'' that are accepted until the
execution of their closing auction at 4:00 p.m. ET,\19\ and NYSE Arca,
Inc. (``Arca'') initiates its ``Closing Auction Imbalance Freeze'' for
all MOC and LOC Orders at 3:59 p.m. ET.\20\ LOC Orders submitted after
the proposed Closing Cross Cutoff and before the proposed Late Cutoff
will continue to be handled as they are today, and would therefore only
be accepted if there is a First Reference Price, and would be subject
to re-pricing if the limit price of the LOC Order is more aggressive
than the First Reference Price or rejection, depending on the election
of the member. Furthermore, the cancellation and/or modification of
orders during the extended period would continue to be allowed only to
correct a legitimate error in the order.
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    \19\ See BZX Rule 11.23(c)(1)(A).
    \20\ See Arca Rule 7.35-E(d)(2).
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    In addition, Rule 4702(b)(12)(A) currently provides that a Closing
Cross/Extended Hours Order that is entered between 3:50 p.m. ET and the
time of the Nasdaq Closing Cross will be rejected if it has been
assigned a Pegging Attribute. Pegging is an Order Attribute that allows
an Order to have its price automatically set with reference to the
national best bid or offer (``NBBO''), and is therefore available only
during Market Hours.\21\ Since a Pegging Attribute is only available
during Market Hours, an Order with a Pegging Attribute can never be
entered as a Closing Cross/Extended Hours Order, which would be valid
only after Market Hours had concluded. The Exchange proposes to make
this clear in Rule 4702(b)(12)(B) by removing the current reference to
the time during which such an Order is entered. As proposed, the rule
would provide that a Closing Cross/Extended Hours Order will be
rejected if it has been assigned a Pegging Attribute.
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    \21\ See Rule 4703(d).
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Order Imbalance Indicator
    Once MOC/LOC Orders are locked in at the Closing Cross Cutoff, the
Exchange begins disseminating the Order Imbalance Indicator to provide
market participants with information about the Nasdaq Closing Cross.
With the proposed changes to the Closing Cross Cutoff, the Exchange is
proposing to also begin disseminating the Order Imbalance Indicator at
the new Closing Cross Cutoff of 3:55 p.m. ET.\22\ The Exchange has
always disseminated the Order Imbalance Indicator once MOC/LOC Orders
are locked in at the Closing Cross Cutoff. Prior to the Closing Cross
Cutoff, Participants have significantly more leeway to enter new on
close orders or cancel or modify on close orders already entered. The
Exchange therefore believes that continuing to disseminate the Order
Imbalance Indicator starting at the Closing Cross Cutoff, which as
proposed will be 3:55 p.m. ET, will ensure that market participants
receive a more complete picture of on close interest when such interest
is relatively settled.
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    \22\ Because the First Reference Price refers to the Current
Reference Price in the first Order Imbalance Indicator disseminated
to market participants, Rule 4754(a)(9) will similarly be updated to
reference 3:55 p.m. ET, which is when the first Order Imbalance
Indicator will now be disseminated.
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    Currently, the Order Imbalance Indicator is disseminated every five
seconds starting at the Closing Cross Cutoff discussed above. The
Exchange believes, however, that more frequent dissemination will be
beneficial to market participants that use this information, and is
therefore proposing to increase the frequency of dissemination to every
second. This proposed change will apply to the Order Imbalance
Indicator for the Nasdaq Closing Cross as well as the similar Order
Imbalance Indicator provided for the LULD Closing Cross,\23\ Nasdaq
Opening Cross,\24\ and the Nasdaq Halt Cross,\25\ which each have a
five second dissemination frequency today.
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    \23\ See Rule 4754(b)(6).
    \24\ See Rule 4752(d)(1).
    \25\ See Rule 4753(b)(1).
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Conforming Changes
    Last, the Exchange is proposing to make conforming changes to Rule
7018(a), which provides the fees and credits available to members for
the use of the order execution and routing services of the Nasdaq
Market Center for all securities priced at $1 or more that it trades.
Under Rules 7018(a)(1) and (2), Nasdaq has credits that exclude Limit-
on-Close Order entered between 3:50 p.m. ET and immediately prior to
3:55 p.m. ET. The Exchange is proposing to update these times to
reflect the times proposed herein.
Implementation
    The Exchange proposes to implement all of the changes described in
this proposed rule change in either Q3 or Q4 2018. The Exchange will
announce the implementation date of these changes in an Equity Trader
Alert issued to Participants prior to implementing the change.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b)

of the Act,\26\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\27\ 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. Specifically, the Exchange believes that extending the cutoff
times for submitting on close orders will allow market participants to
retain control over their orders for a longer period of time, and
thereby assist those market participants in managing their trading at
the close. Furthermore, the Exchange believes that the proposed changes
to the Order Imbalance Indicator will protect investors and the public
interest by continuing to provide complete and timely information to
the market.
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    \26\ 15 U.S.C. 78f(b).
    \27\ 15 U.S.C. 78f(b)(5).
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Cutoff Times
    While the Exchange originally implemented a Closing Cross Cutoff
time in 2004 that was ten minutes prior to the execution of the Nasdaq
Closing Cross, the Exchange no longer believes that this much time is
required for market participants to respond to and offset Imbalances.
To promote price discovery in the Nasdaq Closing Cross, the Exchange
disseminates an Order Imbalance Indicator with certain information
about the cross to market participants beginning at 3:50 p.m. ET, at
which time market participants have more limited means of entering
orders to participate in the Nasdaq Closing Cross. Specifically,
Participants cannot enter new MOC Orders on or after 3:50 p.m. ET, and
between 3:50 p.m. ET and immediately prior to 3:55 p.m. ET are limited
to entering LOC Orders that are subject to being rejected or re-priced
if too aggressive based on the First Reference Price disseminated at
that time (or rejected if there is no First Reference Price).
Otherwise, the ability to update MOC or LOC Orders is limited to
correcting legitimate errors. The Exchange believes that market
participants would be better served if the Closing Cross Cutoff was
extended to 3:55 p.m. ET so that the period of time where they have
limited control over their orders is reduced.\28\ The Exchange believes
that this will reduce risk for market participants that participate in
the Nasdaq Closing Cross, and improve price discovery by facilitating
additional participation by market participants that may not be willing
to lose control over their on close interest for ten minutes. Another
equities exchange, BZX, already uses a 3:55 p.m. ET cutoff for regular
MOC/LOC entry in its closing auction, and the Exchange believes that
this cutoff time reflects the efficiency and more automated nature of
trading in today's market.
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    \28\ The ``Closing Cross Cutoff'' refers to various 3:50 p.m. ET
cutoff times for the Nasdaq Closing Cross. As such, this change will
impact functionality that is tied to the regular cutoff time for
entering MOC/LOC Orders, such as the cutoff time for cancelling or
modifying IO Orders. See supra note 5. The Exchange believes that
Participants should continue to be able to cancel or modify their IO
Orders, which are designed to offset Imbalances, until such time as
MOC/LOC Orders are locked in at the Closing Cross Cutoff.
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    In addition, the Exchange continues to believe that it is
appropriate to offer a later cutoff time for certain LOC Orders, as
well as for the correction of legitimate errors. The Exchange launched
the functionality described in SR-Nasdaq-2017-061 last year, and
believes that it provides a helpful means for promoting price discovery
in the Nasdaq Closing Cross. Since the Exchange is extending the
Closing Cross Cutoff to the time that these LOC Orders are accepted
until today, the Exchange is proposing to extend the Late Cutoff as
well. The Exchange believes that the market will continue to benefit
from permitting LOC Orders to be submitted until 3:58 p.m. ET, subject
to the conditions described in the current rule with respect to
rejection or re-pricing and orders being accepted only when there is
matched buy and sell interest that is eligible to participate in the
Nasdaq Closing Cross, as evidenced by a First Reference Price being
disseminated to market participants. BZX, which offers a similar
``Late-Limit-On-Close Order'' accepts those orders until 4:00 p.m. ET,
when that exchange runs its closing auction, and Arca initiates its
``Closing Auction Imbalance Freeze'' for all MOC and LOC Orders at 3:59
p.m. ET. The Exchange therefore believes that there is ample precedent
in the industry for continuing to accept these orders until 3:58 p.m.
ET, as proposed.
    Furthermore, the Exchange believes that it is appropriate to
clarify in its rules that a Closing Cross/Extended Hours Order will be
rejected if it has been assigned a Pegging Attribute (i.e., regardless
of the time the Order is entered). Although the current rule references
Closing Cross/Extended Hours Order entered between 3:50 p.m. ET and the
time of the Nasdaq Closing Cross, Pegging Attributes are available
during Market Hours only, and therefore Closing Cross/Extended Hours
Orders are rejected if entered with a Pegging Attribute at other times
as well. Thus, the Exchange believes the proposed change will increase
transparency around the operation of the Exchange.
Order Imbalance Indicator
    The Exchange also believes that it is appropriate to continue to
disseminate the Order Imbalance Indicator starting at the Closing Cross
Cutoff. As explained in the purpose section of this proposed rule
change, the Exchange has always disseminated the Order Imbalance
Indicator beginning at the Closing Cross Cutoff, which is when the
Exchange believes it is possible to disseminate meaningful information
about the Nasdaq Closing Cross. Prior to this time, Participants are
generally free to submit additional on close interest and/or cancel or
modify on close interest already submitted. Furthermore, many
Participants may wait until immediately prior to the Closing Cross
Cutoff to enter their on close interest. Thus, the Exchange believes
that any information disseminated before the Closing Cross Cutoff has
the potential to be misleading to some market participants. As a
result, the Exchange believes that it is consistent with the protection
of investors and the public interest to continue to disseminate this
information at the Closing Cross Cutoff, which will be moved to 3:55
p.m. ET, as proposed.
    Finally, the Exchange believes that market participants will
benefit from a more frequent dissemination of the Order Imbalance
Indicator for the Nasdaq Closing Cross, LULD Closing Cross, Nasdaq
Opening Cross, and Nasdaq Halt Cross. While the Exchange initially
chose to disseminate this information once every five seconds, the
Exchange believes that the increased automation and efficiency in the
equities markets that spurred the changed cutoff times described above
also justify increasing the frequency for disseminating information to
the market. Arca similarly updates Auction Imbalance Information at
least every second, unless there is no change to the information.\29\
The Exchange believes that an increased frequency of data dissemination
for each of the auctions described above will be helpful to
Participants that will benefit from a more timely view of the market.
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    \29\ See Arca Rule 7.35-E(a)(4)(A).
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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 intermarket or intramarket competition not
necessary

or appropriate in furtherance of the purposes of the Act. Rather, the
Exchange believes that the proposed rule change is evidence of the
competitive forces in the equities markets. The Exchange originally
launched the Nasdaq Closing Cross in 2004 with a ten minute cutoff
period where Participants would no longer have the ability to enter
additional MOC/LOC Orders, and would have limited ability to interact
with their already entered orders. While the Exchange launched
functionality last year to accept LOC Orders up to five minutes before
the execution of the Nasdaq Closing Cross, these orders are subject to
conditions that may not appeal to all market participants. Meanwhile,
exchanges that have launched closing auctions more recently have
typically adopted them with shorter cutoff periods. The Exchange
believes that the market participants that trade in the Nasdaq Closing
Cross, which determines the Nasdaq Official Closing Price for all
Nasdaq listed stocks, would similarly benefit from a shorter cutoff
period. The proposed cutoff times would apply equally to all
Participants and reflects the current market environment where trading
is increasingly more automated and efficient, and where competing
exchanges already offer later cutoff times than those currently in
place on Nasdaq. The Exchange believes that the proposed changes to the
Order Imbalance Indicator similarly reflect the current competitive
environment as the Exchange's changes are designed to continue to
provide complete and timely information to the market, to the benefit
of Participants that trade on Nasdaq. The proposed changes to the Order
Imbalance Indicator, like the changes being made to the cutoff times,
will apply equally to all Participants.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) By order approve or disapprove such proposed rule change, or
    (B) institute proceedings to determine whether the proposed rule
change should be disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml ); or
     Send an email to [email protected]. Please include
File Number SR-NASDAQ-2018-068 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-NASDAQ-2018-068. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-NASDAQ-2018-068 and should be submitted
on or before September 26, 2018.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\30\
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    \30\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-19148 Filed 9-4-18; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register: August 19, 2010 (Volume 75, Number 160)]
[Rules and Regulations]
[Page 51172]
[DOCID:fr19au10-2]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2010-0402; Airspace Docket No. 10-AGL-6]

Amendment of Class E Airspace; Perham, MN

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This action amends Class E airspace for Perham, MN to
accommodate Area Navigation (RNAV) Standard Instrument Approach
Procedures (SIAPs) at Perham Municipal Airport. The FAA is taking this
action to enhance the safety and management of Instrument Flight Rule
(IFR) operations at the airport.

DATES: Effective Date: 0901 UTC, November 18, 2010. The Director of the
Federal Register approves this incorporation by reference action under
1 CFR Part 51, subject to the annual revision of FAA Order 7400.9 and
publication of conforming amendments.

FOR FURTHER INFORMATION CONTACT: Scott Enander, Central Service Center,
Operations Support Group, Federal Aviation Administration, Southwest
Region, 2601 Meacham Blvd., Fort Worth, TX 76137; telephone (817) 321-
7716.

SUPPLEMENTARY INFORMATION:

History

    On May 17, 2010, the FAA published in the Federal Register a notice
of proposed rulemaking to amend Class E airspace for Perham, MN,
creating additional controlled airspace at Perham Municipal Airport (75
FR 27496) Docket No. FAA-2010-0402. Interested parties were invited to
participate in this rulemaking effort by submitting written comments on
the proposal to the FAA. No comments were received. Class E airspace
designations are published in paragraph 6005 of FAA Order 7400.9T
signed August 27, 2009, and effective September 15, 2009, which is
incorporated by reference in 14 CFR 71.1. The Class E airspace
designations listed in this document will be published subsequently in
the Order.

The Rule

    This action amends Title 14 Code of Federal Regulations (14 CFR)
Part 71 by adding additional Class E airspace extending upward from 700
feet above the surface to accommodate SIAPs at Perham Municipal
Airport, Perham, MN. This action is necessary for the safety and
management of IFR operations at the airport.
    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.
Therefore, this regulation: (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. Since this is a routine matter
that will only affect air traffic procedures and air navigation, it is
certified that this rule, when promulgated, will not have a significant
economic impact on a substantial number of small entities under the
criteria of the Regulatory Flexibility Act.
    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the U.S. Code. Subtitle 1, section 106, describes
the authority of the FAA Administrator. Subtitle VII, Aviation
Programs, describes in more detail the scope of the agency's authority.
This rulemaking is promulgated under the authority described in
subtitle VII, part A, subpart I, section 40103. Under that section, the
FAA is charged with prescribing regulations to assign the use of
airspace necessary to ensure the safety of aircraft and the efficient
use of airspace. This regulation is within the scope of that authority
as it amends controlled airspace at Perham Municipal Airport, Perham,
MN.

List of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (Air).

Adoption of the Amendment

0
In consideration of the foregoing, the Federal Aviation Administration
amends 14 CFR 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

0
1. The authority citation for 14 CFR 71 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40103, 40113, 40120; E.O. 10854, 24
FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1  [Amended]

0
2. The incorporation by reference in 14 CFR Part 71.1 of the Federal
Aviation Administration Order 7400.9T, Airspace Designations and
Reporting Points, signed August 27, 2009, and effective September 15,
2009 is amended as follows:

Paragraph 6005 Class E airspace areas extending upward from 700
feet or more above the surface.

* * * * *

AGL MN E5 Perham, MN [Amended]

Perham Municipal Airport, MN
    (Lat. 46[deg]36'15'' N., long. 95[deg]36'16'' W.)

    That airspace extending upward from 700 feet above the surface
within a 6.8-mile radius of Perham Municipal Airport.

    Issued in Fort Worth, Texas, on August 6, 2010.
Anthony D. Roetzel,
Manager, Operations Support Group, ATO Central Service Center.
[FR Doc. 2010-20398 Filed 8-18-10; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 87, Number 121 (Friday, June 24, 2022)]
[Notices]
[Pages 37850-37851]
[FR Doc No: 2022-13516]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following electric
corporate filings:

    Docket Numbers: EC22-77-000.
    Applicants: Wisconsin River Power Company, Wisconsin Power and
Light Company, Wisconsin Public Service Corporation.
    Description: Joint Application for Authorization Under Section 203
of the Federal Power Act of Wisconsin River Power Company, et al.
    Filed Date: 6/16/22.
    Accession Number: 20220616-5185.
    Comment Date: 5 p.m. ET 7/7/22.

    Take notice that the Commission received the following exempt
wholesale generator filings:

    Docket Numbers: EG22-146-000.
    Applicants: Invenergy Nelson Expansion LLC.
    Description: Invenergy Nelson Expansion LLC submits Notice of Self-
Certification of Exempt Wholesale Generator Status.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5043.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: EG22-147-000.
    Applicants: Invenergy Nelson LLC.
    Description: Invenergy Nelson LLC submits Notice of Self-
Certification of Exempt Wholesale Generator Status.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5049.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: EG22-148-000.
    Applicants: West Texas Solar Project II LLC.
    Description: Notice of Self-Certification of Exempt Wholesale
Generator Status of West Texas Solar Project II LLC.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5075.
    Comment Date: 5 p.m. ET 7/8/22.

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER11-2366-001.
    Applicants: Lincoln Generating Facility, LLC.
    Description: Compliance filing: Informational Filing Pursuant to
Schedule 2 of the PJM OATT & Request for Waiver to be effective N/A.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5048.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER11-3110-001.
    Applicants: Crete Energy Venture, LLC.
    Description: Compliance filing: Informational Filing Pursuant to
Schedule 2 of the PJM OATT & Request for Waiver to be effective N/A.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5046.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER21-55-000.
    Applicants: Mesquite Power, LLC.
    Description: Refund Report: Refund Report--Mesquite Power, LLC
(ER21-55-et al.) to be effective N/A.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5154.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER21-60-000.
    Applicants: PacifiCorp.
    Description: Refund Report: April 18 Order Refund Report for ER21-
60 to be effective N/A.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5098.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-983-001.
    Applicants: ISO New England Inc., New England Power Pool
Participants Committee.

    Description: Compliance filing: ISO New England Inc. submits tariff
filing per 35: ISO-NE Response to Commission Request for Additional
Information to be effective N/A.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5073.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2134-000.
    Applicants: Public Service Company of Colorado.
    Description: Sec.  205(d) Rate Filing: 2022-06-16-PSCo-TSGT-WAPA-
Load to Move from PSCoBA to WACM-694-0.0.0 to be effective 6/17/2022.
    Filed Date: 6/16/22.
    Accession Number: 20220616-5167.
    Comment Date: 5 p.m. ET 7/7/22.

    Docket Numbers: ER22-2135-000.
    Applicants: Covanta Delano, Inc.
    Description: Tariff Amendment: Notice of Cancellation to be
effective 6/17/2022.
    Filed Date: 6/16/22.
    Accession Number: 20220616-5169.
    Comment Date: 5 p.m. ET 7/7/22.

    Docket Numbers: ER22-2136-000.
    Applicants: Associated Electric Cooperative, Inc.
    Description: Request for Waiver of Tariff Provisions, et al. of
Associated Electric Cooperative, Inc.
    Filed Date: 6/16/22.
    Accession Number: 20220616-5190.
    Comment Date: 5 p.m. ET 7/7/22.

    Docket Numbers: ER22-2137-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Amendment to ISA, Service
Agreement No. 5359; Queue Nos. AB1-141/AB1-142 to be effective 4/9/
2019.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5028.
    Comment Date: 5 p.m. ET 7/8/22.
    Docket Numbers: ER22-2138-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Amendment to WMPA, Service
Agreement No. 6082; Queue No. AF1-039 to be effective 4/30/2021.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5037.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2139-000.
    Applicants: Southwest Power Pool, Inc.
    Description: Sec.  205(d) Rate Filing: 607R42 Evergy Kansas
Central, Inc. NITSA NOA to be effective 6/1/2022.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5054.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2140-000.
    Applicants: Pacific Gas and Electric Company.
    Description: Tariff Amendment: Termination of PG&E Llagas Energy
Storage SGIA (SA 387) to be effective 8/17/2022.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5076.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2141-000.
    Applicants: Sun Mountain Solar 1, LLC.
    Description: Baseline eTariff Filing: Market-Based Rate Tariff
Application with Expedited & Confidential Treatment to be effective 8/
16/2022.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5085.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2142-000.
    Applicants: Southern California Edison Company.
    Description: Sec.  205(d) Rate Filing: LA, Kramer Junction 6-7
(Resurgence 2) TOT695-TOT696 to be effective 6/18/2022.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5088.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2143-000.
    Applicants: Southern California Edison Company.
    Description: Sec.  205(d) Rate Filing: LA, Kramer Junction 3-5
(Resurgence 1) TOT692-TOT694 to be effective 6/18/2022.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5093.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2144-000.
    Applicants: Invenergy Nelson Expansion LLC.
    Description: Baseline eTariff Filing: Application for Market-Based
Rate Authorization to be effective 8/17/2022.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5097.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2145-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Revisions to the Tariff and
RAA RE: Update AEP and its affiliate company names to be effective 12/
31/9998.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5103.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2146-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Revisions to the CTOA RE:
Update AEP and its affiliate company names to be effective 12/31/9998.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5104.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2147-000.
    Applicants: PacifiCorp.
    Description: Sec.  205(d) Rate Filing: Tri-State, Empire Const Agmt
at Pinto (Rev 2) to be effective 8/17/2022.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5109.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2148-000.
    Applicants: Blooming Grove Wind Energy Center LLC.
    Description: Baseline eTariff Filing: Reactive Power Rate Schedule
to be effective 6/18/2022.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5115.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2149-000.
    Applicants: Tampa Electric Company.
    Description: Sec.  205(d) Rate Filing: Amended and Restated RS 103
DEF Dale Mabry--Morgan Road to be effective 9/1/2022.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5118.
    Comment Date: 5 p.m. ET 7/8/22.

    Docket Numbers: ER22-2150-000.
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Compliance filing: 2022-06-17_Request for Extension of
Schedule 29 and 29A Waivers to be effective N/A.
    Filed Date: 6/17/22.
    Accession Number: 20220617-5127.
    Comment Date: 5 p.m. ET 6/24/22.

    The filings are accessible in the Commission's eLibrary system
(https://elibrary.ferc.gov/idmws/search/fercgensearch.asp) by querying
the docket number.
    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 5:00
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings 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<PHONE_NUMBER>.

    Dated: June 17, 2022.
Kimberly D. Bose,
Secretary.
[FR Doc. 2022-13516 Filed 6-23-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 78, Number 127 (Tuesday, July 2, 2013)]
[Notices]
[Pages 39805-39806]
[FR Doc No: 2013-15780]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69863; File No. SR-BOX-2013-32]

Self-Regulatory Organizations; BOX Options Exchange LLC; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To
Amend BOX Rule 7130 (Execution and Price/Time Priority) To Adjust the
NBBO Exposure Period

    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on June 20, 2013, BOX Options Exchange LLC (the ``Exchange'') filed
with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II below, which Items
have been prepared by the self-regulatory organization. The Commission
is publishing this notice to solicit comments on the proposed rule from
interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to amend BOX Rule 7130 (Execution and Price/
Time Priority) to adjust the NBBO exposure period. The text of the
proposed rule change is available from the principal office of the
Exchange, at the Commission's Public Reference Room and also on the
Exchange's Internet Web site at http://boxexchange.com.

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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to amend BOX Rule 7130 (Execution and Price/
Time Priority) to allow the Exchange to set the duration of the NBBO
exposure period available to certain unexecuted orders. This is a
competitive filing based on the rules of the International Securities
Exchange (``ISE'').\3\
---------------------------------------------------------------------------

    \3\ See Supplementary Material .02 to ISE Rule 1901. The rule
was adopted in 2008. See
    Securities Exchange Act Release No. 58038 (June 26, 2008), 73 FR
38261 (July 3, 2008) (SR-ISE-2008-50) (Notice of Filing and
Immediate Effectiveness of Proposed Rule Change Relating to the
Exposure of Public Customer Orders to all ISE Members). ISE's
current NBBO Exposure period is set at 150 milliseconds. See ISE
Market Information Circular 2012-09 from February 29, 2012.
---------------------------------------------------------------------------

    Under the current BOX Rules, certain orders are exposed at the
national best bid or offer (``NBBO'') to all Exchange Participants for
one (1) second to give Participants an opportunity to execute against
the order at the NBBO or better. If no Participants execute against the
order during the exposure period, the order will be rejected (in the
case of Non-Customer Orders), routed to an Away Exchange \4\ (in the
case of Public Customer Orders), or, if the best BOX price is then
equal to the NBBO, executed on the BOX Book.\5\ The Exchange proposes
to amend the exposure period language in Rule 7130(b)(4)(ii) to state
that the order will be exposed on the BOX Book at the NBBO for a time
period established by the Exchange, not to exceed one second.
---------------------------------------------------------------------------

    \4\ The Exchange is a participant in the Options Order
Protection and Locked/Crossed Market Plan (``Plan''). The Plan
requires the Participating Options Exchanges to adopt rules
``reasonably designed to prevent Trade-Throughs.'' Under the Plan,
the Exchange cannot execute orders at a price that is inferior to
the NBBO, nor can the Exchange place an order on its books that
would cause the Exchange's best bid or offer (``BBO'') to lock or
cross another exchange's quote. In compliance with this requirement,
incoming orders are not automatically executed at prices inferior to
another exchange's Protected Bid or Protected Offer, nor placed on
the limit order book if they would lock or cross an Away Market. If
the Exchange cannot execute or book an order it will route the order
to an Away Exchange on behalf of the Options Participant who
submitted the Eligible Order through a third-party broker dealer.
    \5\ Only orders that are specifically designated by Options
Participants as eligible for routing will be routed to an Away
Exchange (``Eligible Orders''). However, Market-on-Opening Orders,
any Improvement Auction orders, or any order identified with the
condition ``Fill and Kill'' shall not be eligible for routing. See
BOX Rule 15030(a).
---------------------------------------------------------------------------

    The proposed change will give the Exchange the flexibility of
lowering the NBBO exposure period when necessary, which the Exchange
believes will benefit market participants by providing them with more
timely executions and reducing their market risk. Today's market
participants possess sophisticated trading technology and, as with
other time periods on BOX, a longer exposure period may not be
necessary.\6\ Additionally, these longer time periods expose market
participants to additional, and because of current systems technology,
unnecessary, market risk.
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release Nos. 59638 (March 27,
2009), 74 FR 15020 (April 2, 2009) (SR-BX-2009-015) (Order Granting
Approval of Reduction of Certain Order Handling and Exposure Periods
on BOX From Three Seconds to One Second), and 66306 (February 2,
2012), 77 FR 6608 (February 8, 2012) (SR-BX-2011-084) (Order
Granting Approval to Reduce the PIP From One Second to One Hundred
Milliseconds); 68965 (February 21, 2013), 78 FR 13387 (February 27,
2013) (SR-BOX-2013-08) (Notice of Filing and Immediate Effectiveness
of Proposed Rule Change To Reduce the Directed Order Exposure Period
on BOX From Three Seconds to One). In connection with the first two
proposals, BOX distributed a survey to Participants. The results
indicated that the time it takes a message to travel between BOX and
the Participants typically is not more than 50 milliseconds each
way, and that it typically takes not more than 10 milliseconds for
Participant systems to process the information and generate a
response. The speed at which technology systems can process
information has only increased since then. As such, the Exchange
believes that the information gathered from Participants supports
the assertion that having the flexibility to reduce the NBBO
exposure period to under one second will continue to provide
Participants with sufficient time to ensure effective interaction
with orders.
---------------------------------------------------------------------------

    When setting this NBBO exposure period, the Exchange will take into
consideration the technological ability of Participants to respond as
well as similar exposure periods implemented by the Exchange and other
exchanges. The Exchange will notify Participants of the duration of the
exposure period, and any changes to the duration, via regulatory
circular at least one week prior to the implementation date. BOX
believes this will give Participants an opportunity to change any
system settings to coincide with the implementation date.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Securities Exchange Act of 1934
(the ``Act''),\7\ in general, and Section 6(b)(5) of the Act,\8\ in
particular, in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and, in general to protect investors and the
public interest. In particular, the proposed rule change will
facilitate and provide investors with prompt and timely execution of
their options orders, while continuing to provide market

participants with an opportunity to compete for orders exposed at the
NBBO.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    As proposed, the NBBO exposure period will not exceed one second
and will be set by the Exchange, taking into consideration the
technological ability of Participants to respond as well as similar
exposure periods implemented by other exchanges. The Exchange believes
having the ability to set the appropriate duration for the NBBO
exposure period will provide flexibility and thereby improve order
execution opportunities for Participants. As a result, the Exchange
believes the proposed rule change promotes just and equitable
principles of trade, will foster cooperation and coordination with
persons engaged in facilitating transactions in securities, and will
remove impediments to and perfect the mechanism of a free and open
market and a national market system.
    Additionally, the proposed change will reduce market risk for BOX
Participants responding to orders exposed at the NBBO by providing more
timely executions of these orders. As such, BOX believes the proposed
rule change would help perfect the mechanism for a free and open
national market system, and generally help protect investors' and the
public interest. The Exchange believes the proposed rule change is not
unfairly discriminatory because the exposure time period for responding
to orders exposed at the NBBO would be the same for all Participants.
Further, all Participants will have advance notice of the NBBO exposure
period and any changes via regulatory circular. All Participants on BOX
have today, and will continue to have, an equal opportunity to respond
to orders exposed at the NBBO. As such, the Exchange believes the
proposed change is not unfairly discriminatory and would benefit
investors.

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

    The Exchange believes the proposed change will reduce market risk
for BOX Participants whose orders are exposed at the NBBO and those
responding to orders exposed at the NBBO, and that the proposed rule
change is not unfairly discriminatory because the exposure time period
would be the same for all Participants. All Participants on BOX have
today, and will continue to have, an equal opportunity to respond to
orders exposed at the NBBO. Further, all Participants will have advance
notice of the NBBO exposure period and any changes via regulatory
circular. As such, the Exchange believes that a possible reduction in
the exposure period would not be unfairly discriminatory and would
benefit investors. The Exchange all also believes that the proposed
change will not burden intermarket competition and instead will help
the market operate efficiently by giving Participants the opportunity
to trade on an order before it is routed away or canceled.
Additionally, and as indicated above, the Exchange notes that the rule
change is being proposed as a competitive response to the rules of the
ISE.\9\
---------------------------------------------------------------------------

    \9\ See supra, note 3.
---------------------------------------------------------------------------

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 comments on the
proposed rule change.

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

    Because the foregoing proposed rule change does not: (1)
Significantly affect the protection of investors or the public
interest; (2) impose any significant burden on competition; and (3) by
its terms does not become operative for 30 days after the date of this
filing, or such shorter time as the Commission may designate if
consistent with the protection of investors and the public interest,
the proposed rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(6) thereunder.\11\
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to provide the Commission
with written notice of its intent to file the proposed rule change,
along with a brief description and text of the proposed rule change,
at least five business days prior to the date of filing of the
proposed rule change, or such shorter time as designated by the
Commission. The Exchange has met this requirement.
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.

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-BOX-2013-32 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-BOX-2013-32. 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-BOX-2013-32 and should be
submitted on or before July 23, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

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

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-15780 Filed 7-1-13; 8:45 am]
BILLING CODE 8011-01-P


Comment Info: =================

General Comment:Dear Mr. Zeller:

I am writing as an individual consumer to request an extension of the comment period for the Food and Drug Administration's ("FDA") Proposed Rule Deeming Tobacco Products to be Subject to the Federal Food, Drug, and Cosmetic Act, as amended by the Family Smoking and Prevention and Tobacco Control Act (the "Proposed Rule") published at 79 Fed. Reg. 23,142 and Federal Register No. 2014-09491. On behalf of myself, I am requesting that the comment period for the Proposed Rule be extended by the FDA for an additional 105 days, from its current 75-day period, to 180 days.

The Proposed Rule raises a number of significant issues and questions that are important and relevant to me, as a consumer of products that are proposed for regulation under the Proposed Rule. The Proposed Rule asks about a hundred different questions I might want to respond to. I want to provide my thoughts and comments on many of these issues, but my time to devote to researching and providing thoughtful comments on these important questions is limited. I have already spent many hours researching and dissecting these issues, but they take time. I know that the FDA took many years to even come up with the Proposed Rule, so I do not think it is at all unreasonable to allow the public a mere six months to comment on it. This is our only opportunity, as consumers, to provide our feedback.

I have been vaping for 3 1/2 years and feel very strongly about e-cigarettes as an alternative to combustible cigarettes. Quite simply, I firmly believe that they saved my life and I feel that I have changed the lives of the non smokers around me. I wish to provide you with my personal story, as well as science- and evidence-based responses to your questions so that you can take my comment into account. I realize that the FDA has the authority under 21 CFR 10.40 to extend this time frame and that the FDA has exercised this authority on numerous occasions in the past. I would therefore ask that you do so here, so that all stakeholders have the opportunity to provide their comments on this proposed regulation.

I appreciate your consideration of my request and am happy to discuss this issue with you further.


Steam Electric Data Request Follow-Up Questions

Project Name:  Steam Electric Detailed Study

	Project No.:  0<IP_ADDRESS>

Company Name:  Georgia Power

	Contact Name:  William R. Evans

Plant Name:  Plant Hammond	Contact Phone Number:<PHONE_NUMBER>

or Email Address<EMAIL_ADDRESS> ERG Staff (or ERG Rep) Name: Sarah Holman

Company Affiliation: ERG	Date: 11/21/07

This document contains CBI:   ___  Yes    x       No

	Type of  Contact:     x      Email           Telephone

General Subject:  Data Request Assistance / Follow-Up

Follow-Up Question Number	CBI =

Yes (Y)

No (N)	Data Request Question Number	Data Request Page Number

Question/Answer

1	N	16	B-10	Q: “Type of Fly Ash Handling System” is listed as both wet and dry.  What is the approximate percentage of the time that the fly ash is handled in a dry fashion?

A:

2	N	30	B-20	Q: The plant responded that it is currently constructing/installing a wastewater treatment system to treat the wastewater from the new FGD system; however, from the plant’s description of the treatment system, it seems that what is under construction is a mechanical dewatering system for the gypsum sluice (and treatment of recycle bleed-off, defined in the data request as “scrubber purge”, will occur in the existing ash pond).  Please confirm that this is the case.

Additionally, the plant’s response to “Will the wastewater treatment system treat FGD wastewater that is commingled with ash wastewater prior to treatment” is no; however, from the plant’s explanation of the wastewater treatment system, it seems that FGD wastewater and ash wastewater will be commingled prior to treatment in the ash pond.  Please explain the response to this question.

A:

3	N	31	B-21	Q: “Amount of Air Heater Washwater Generated” is listed as “washwater goes to thermal drains”.  Is it possible for the plant to estimate the amount of washwater generated?

A:

4	N	35	B-24	Q: Please explain the operation of the plant’s once-through cooling system.

Please provide the flow rates and frequency (hpd and dpy) of wastewater generated from cooling each of the four individual steam electric units.  The plant’s current response contains the following discrepancies: The total flow rate is listed as 351,389 gpm in Table 12, 380,500 gpm in Diagram 5-1, and 256,361 gpm in Table 16.

A:

5	N	38	B-25	Q: The plant responded that sodium hypochlorite is used for SE 1 and SE 2.  Does this mean that sodium hypochlorite is added to the portions of the once-through cooling water used to cool SE 1 and SE 2?

How many dpy is sodium hypochlorite added to the cooling systems?

A:

6	N	43	B-26	Q: Outfalls 01E – 01H, 01J, and 2-11 are not listed in Table 14 or the process diagrams.  Did they discharge in 2006?

In Diagram 5-1, effluent from the coal pile runoff pond is listed as Outfall 01D, but is it actually 01H?  Is the coal pile runoff itself Outfall 01D?

A:

7	N	47	B-28	Q: For WWT-1, did FAS, BAS, and PMRS enter the ash pond 24 hpd and 365 dpy?  Was the recycle from the ash pond used for RECYC-FAS, RECYC-BAS, and RECYC-PMRS 24 hpd and 365 dpy?  Is the breakout of the recycle, “RECYC-FAS/BAS” approximately equivalent to the flow rates of FAS, BAS, and PMRS entering the ash pond?

A:

8	N	47	B-28	Q: On Diagram 5-1 (WWT-1), the FAS flow rate is 2,720 gpm, whereas in Table 5, the total FAS flow rate is 2,796 gpm.  Please explain the difference.  Which flow rate is more accurate?

A:

9	N	47	B-28	Q: Does the plant have an estimate for the “IN-Makeup” flow rate?

A:

10	N	47	B-28	Q: Please confirm that the sludge generation for FAS, BAS, and PMRS is “N/A”.

A:

11	N	47	B-28	Q: Regarding the Low Volume Waste Basins shown in Diagram 5-1, please confirm that no wastewater treatment occurs in these basins.

A:

12	N	47	B-28	Q: For WWT-2, please confirm that pH adjustment and chemical precipitation occur within the settling pond and not within separate vessels as shown on Diagram 5-2.  What chemicals are typically added to the WWT-2 settling pond for chemical precipitation?

A:

13	N	47	B-28	Q: Diagram 5-3 (WWT-3) shows no sludge generation/disposal from the CPR settling pond; however, in Table 17, the plant responded that the CPR settling pond is dredged five days per year.  Please confirm that the CPR settling pond is dredged and provide the amount and destination of sludge generated.

A:

14	N	52	B-34	Q: For WWT-3, the plant responded that the CPR flow rate to the WWT-3 settling pond is 36 gpm, 24 hpd, and 365 dpy (resulting in 18,921,600 gpy); however, in response to Question 11, the plant stated that the amount of coal pile runoff in 2006 was 2,073,600 gpy over 40 days.  Please explain this difference.

Please confirm that the effluent from the WWT-3 CPR settling pond is continuous at 36 gpm.

A:

15	N	53	B-35	Q: Please confirm the energy costs provided for WWT-1 and WWT-3 in 2006.  Please note that this question has been written vaguely to avoid the electronic transfer of CBI.  We would be happy to elaborate on a telephone call.

A:


[Federal Register: July 20, 2007 (Volume 72, Number 139)]
[Proposed Rules]
[Page 39772-39773]
[DOCID:fr20jy07-24]

=======================================================================
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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R06-OAR-2006-0849; FRL-8442-7]

Approval and Promulgation of Implementation Plans; Louisiana;
Clean Air Interstate Rule Sulfur Dioxide Trading Program

AGENCY: Environmental Protection Agency (EPA).

ACTION: Proposed rule.

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SUMMARY: EPA is proposing to approve a revision to the Louisiana State
Implementation Plan (SIP) submitted on September 22, 2006, enacted at
Louisiana Administrative Code, Title 33, Part III, Chapter 5, Section
506(C) (LAC 33:III.506(C)). This revision addresses the requirements of
EPA's Clean Air Interstate Rule (CAIR) Sulfur Dioxide (SO2)
Trading Program, promulgated on May 12, 2005 and subsequently revised
on April 28, 2006. EPA is proposing to determine that the SIP revision
fully implements the CAIR SO2 requirements for Louisiana.
Therefore, as a consequence of the SIP approval, EPA will also withdraw
the CAIR Federal Implementation Plan (CAIR FIP) concerning SO2
emissions for Louisiana. The CAIR FIPs for all States in the CAIR
region were promulgated on April 28, 2006 and subsequently revised on
December 13, 2006.
    CAIR requires States to reduce emissions of SO2 and
nitrogen oxides (NOX) that significantly contribute to, and
interfere with maintenance of, the national ambient air quality
standards for fine particulates and/or ozone in any downwind state.
CAIR establishes State budgets for SO2 and NOX
and requires States to submit SIP revisions that implement these
budgets in States that EPA concluded did contribute to nonattainment in
downwind states. States have the flexibility to choose which control
measures to adopt to achieve the budgets, including participating in
the EPA-administered cap-and-trade programs. In the SIP revision that
EPA is proposing to approve, Louisiana would meet CAIR SO2
requirements by participating in the EPA-administered cap-and-trade
program addressing SO2 emissions.
    The intended effect of this action is to reduce SO2
emissions from the State of Louisiana that are contributing to
nonattainment of the PM2.5 National Ambient Air Quality
Standard (NAAQS or standard) in downwind states. This action is being
taken under section 110 of the Federal Clean Air Act (the Act or CAA).

DATES: Comments must be received on or before August 20, 2007.

ADDRESSES: Comments may be mailed to Mr. Jeff Robinson, Chief, Air
Permits Section (6PD-R), Environmental Protection Agency, 1445 Ross
Avenue, Suite 1200, Dallas, Texas 75202-2733. Comments may also be
submitted electronically or through hand delivery/courier by following
the detailed instructions in the ADDRESSES section of the direct final
rule located in the rules section of this Federal Register.

FOR FURTHER INFORMATION CONTACT: If you have questions concerning
today's proposal, please contact Ms. Adina Wiley (6PD-R), Air Permits
Section, Environmental Protection Agency, Region 6, 1445 Ross Avenue
(6PD-R), Suite 1200, Dallas, TX 75202-2733. The

telephone number is<PHONE_NUMBER>. Ms. Wiley can also be reached via
electronic mail at<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: In the final rules section of this Federal
Register, EPA is approving the State's SIP submittal as a direct final
rule without prior proposal because the Agency views this as a
noncontroversial submittal and anticipates no relevant adverse
comments. A detailed rationale for the approval is set forth in the
direct final rule. If no relevant adverse comments are received in
response to this action, no further activity is contemplated. If EPA
receives relevant adverse comments, the direct final rule will be
withdrawn and all public comments received will be addressed in a
subsequent final rule based on this proposed rule. EPA will not
institute a second comment period. Any parties interested in commenting
on this action should do so at this time. Please note that if EPA
receives adverse comment on an amendment, paragraph, or section of the
rule, and if that provision may be severed from the remainder of the
rule, EPA may adopt as final those provisions of the rule that are not
the subject of an adverse comment.
    For additional information, see the direct final rule which is
located in the rules section of this Federal Register.

    Dated: July 11, 2007.
Lawrence Starfield,
Acting Regional Administrator, EPA Region 6.
 [FR Doc. E7-14067 Filed 7-19-07; 8:45 am]

BILLING CODE 6560-50-P


[Federal Register Volume 78, Number 243 (Wednesday, December 18, 2013)]
[Notices]
[Pages 76667-76669]
[FR Doc No: 2013-30049]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-71066; File No. SR-ISE-2013-66]

Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change To Change Procedure for Processing Fingerprints Under Existing
Rule 1408

December 12, 2013.
    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 December 4, 2013, the International Securities Exchange, LLC
(the ``Exchange'' or the ``ISE'') filed with the Securities and
Exchange Commission (``Commission'') the proposed rule change as
described in Items I, II, and III below, which items have been prepared
by the self-regulatory organization. The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to change its procedure for processing
fingerprints under its existing Rule 1408. The text of the proposed
rule change is available on the Exchange's Internet Web site at 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
    The Exchange proposes to change the procedure under its existing
Rule 1408

(Fingerprint-Based Background Checks of Exchange Employees and
Independent Contractors and Other Service Providers) regarding its
current practice of conducting fingerprint-based criminal records
checks of (i) directors, officers and employees of the Exchange and
(ii) temporary personnel, independent contractors, consultants, vendors
and service providers (collectively, ``Contractors'') who have or are
anticipated to have access to facilities and records. A number of
securities markets have filed rules and procedures with the Securities
and Exchange Commission (``Commission'' or ``SEC'') to obtain
fingerprints from certain enumerate parties.\3\ ISE's proposal to
change its procedure under its Rule 1408 is consistent with these
rules. Specifically, the Exchange is proposing to: (1) Discontinue the
current method of manual fingerprinting via fingerprint cards and (2)
utilize a Live-Scan \4\ electronic system for the taking of
fingerprints. All of the proposed changes are consistent with the
requirements of other options exchanges.\5\
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 69496 (May 2, 2013),
78 FR 26671 (May 7, 2013), (Notice of filing and immediate
effectiveness of a proposed Chicago Board Options Exchange
(``CBOE'') rule change relating to fingerprint-based background
checks (SR-CBOE-2013-044)); Rule 28 of the New York Stock Exchange
(``NYSE''); Rule 0140 of the Nasdaq Stock Market, Inc. (``Nasdaq'');
and Securities Exchange Act Release No. 50157 (August 5, 2004), 69
FR 49924 (August 12, 2004) (policy adopted by the Financial Industry
Regulatory Authority (``FINRA''), formerly known as National
Association of Securities Dealers, Inc. (``NASD''), to conduct
fingerprint-based background checks of NASD employees and
independent contractors).
    \4\ Live-Scan refers to the process of capturing fingerprints
directly into a digitized format as opposed to traditional ink and
paper methods. Using Live-Scan technology, images are captured and
transmitted to a central location and/or interface for
identification processing. Certified Live-Scan systems produce
consistent high quality fingerprint images, thereby reducing
rejection rates and lowering turnaround times. Live-Scan systems are
used by law enforcement agencies for processing criminal fingerprint
records and in government and commercial markets for applicant
employment background checks.
    \5\ See Supra note 1.
---------------------------------------------------------------------------

    Access to the Federal Bureau of Investigation's (``FBI'') (the
fingerprint processing arm of the Office of the Attorney General of the
United States) database of fingerprint-based records is permitted only
when authorized by law. Section 17(f)(2) of the Act explicitly directs
the Attorney General of the United States (i.e., the FBI) to provide
SROs designated by the Commission with access to criminal history
record information. The Exchange has conducted its fingerprint-based
record checks of (i) directors, officers and employees of the Exchange
and (ii) Contractors since Rule 1408 was adopted on December 18,
2003.\6\ Under the current fingerprinting procedure, the Exchange staff
manually rolls the fingerprints and submits the fingerprint cards to
the FBI.\7\ The Exchange was recently notified that the FBI would no
longer accept card stocks of fingerprints due to the high costs
associated with processing these submissions, thereby requiring that
all fingerprints be submitted in an electronic format for
processing.\8\ The FBI requires a minimum of 3,000 submissions per year
in order to maintain a direct FBI connection for electronic fingerprint
processing. However, the Exchange's annual volume of fingerprint
submissions is approximately 200 per year. Because this is a mere
fraction of the minimum requirement set forth by the FBI, it is
necessary that the ISE engage an FBI-authorized Channel Partner for
these services in order to comply with applicable state and federal
law.\9\ Accordingly, the Exchange is now proposing to utilize a Live-
Scan electronic fingerprinting system, as mentioned above. Any Live-
Scan system utilized by the Exchange will have been certified by the
FBI for compliance with the FBI's Integrated Automated Fingerprint
Identification System (``IAFIS'') \10\ image quality specifications.
The Live-Scan system will electronically capture and transmit
fingerprints to the FBI for processing and transmit fingerprint reports
back to the ISE.\11\ The Live-Scan system will be maintained by an FBI-
approved Channel Partner \12\ and operated by a qualified Channel
Partner representative. The Exchange notes that at least one other
exchange employs the same method for processing fingerprints
electronically.\13\
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release No. 48840 (November 25,
2003), 68 FR 67711 (December 3, 2003) (SR-ISE-2003-29).
    \7\ The Exchange notes that two to three weeks generally elapses
between the time when the ISE submits fingerprint cards and when ISE
received [sic] fingerprint reports.
    \8\ The Exchange was grandfathered into this process during the
FBI's transition to utilizing an electronic system to obtain
fingerprints, but now must transition into utilizing an electronic
fingerprinting system as required by the FBI.
    \9\ N.Y. Gen. Bus. Law Sec.  359-e (McKinney); 15 U.S.C.
78q(f)(2); 17 CFR 240.17f-2(c), respectively.
    \10\ The IAFIS, which was launched in July 1999, was developed
to offer rapid suspect identification to law enforcement agencies
and organizations where criminal background histories are a critical
factor in consideration for employment. Because fingerprint cards
must be physically transported and processes, substantial delays can
be experienced in the identification cycle. To improve the speed and
accuracy of the fingerprint identification process and eliminate the
need for contributing agencies to create and mail paper fingerprint
cards to the FBI for processing, the FBI Criminal Justice
Information Services Division developed the IAFIS to support the
paperless submission of fingerprint records. IAFIS provides Federal,
state and local criminal justice agencies the ability to
electronically transmit fingerprint information, vastly improving
response time.
    \11\ The Exchange estimates that under this proposed change
approximately two days will elapse between when ISE submits
electronic fingerprints and when the FBI returns fingerprint reports
to the ISE.
    \12\ FBI-approved Channel Partners receive the fingerprint
submission and relevant data, collect the associated fee(s),
electronically forward the fingerprint submission with the necessary
information to the FBI Criminal Justice Information Services
Division (``CJIS'') for a national Criminal History Summary check,
and receive the electronic summary check result for dissemination to
the individual. An FBI-approved Channel Partner simply helps
expedite the delivery of Criminal History Summary information on
behalf of the FBI. The process for making a request through an FBI-
approved Channel Partner is consistent with FBI submission
procedures.
    \13\ See Securities Exchange Act Release Nos. 46467 (September
6, 2002), 67 FR 58088 (September 13, 2002), (Approval of CBOE using
electronic system for submitting fingerprints under its
fingerprinting plan), as corrected by 46467A (December 19, 2002), 67
FR 79195 (December 27, 2002).
---------------------------------------------------------------------------

    The procedural change that ISE is proposing under its existing rule
is concerned with the constitution of a stated policy, practice, or
interpretation with respect to the meaning, administration, or
enforcement of an existing rule of ISE and ISE believes that it is
therefore eligible to be filed pursuant to section 19(b)(3)(A)(i) of
the Act \14\ and Rule 19b-4(f)(1) \15\ thereunder. The Exchange
believes that this proposed procedural change under the existing rule
is necessary in order to ensure the Exchange's continued compliance
with its Rules and applicable state and federal law.\16\

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

    \14\ 15 U.S.C. 78s(b)(3)(A)(i).
    \15\ 17 CFR 240.19b-4(f)(1).
    \16\ See Supra note 9.
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that its proposal is consistent with the Act
\17\ and the rules and regulations thereunder applicable to the
Exchange and, in particular, the requirements of Section 6(b) of the
Act. Specifically, the Exchange believes the proposed procedural change
under Rule 1408 is consistent with the Section 6(b)(5) \18\
requirements that the rules of an exchange be designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to 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.
---------------------------------------------------------------------------

    \17\ 15 U.S.C. 78f(b).
    \18\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In particular, the Exchange believes that fingerprint-based
background checks via a Live-Scan system of directors, officers,
employees and contractors is consistent with the foregoing requirements
of Section 6(b)(5) in that it will allow ISE to remain compliant with
the requirements of its Rule 1408 and applicable state and federal
laws.\19\ Continuing to run fingerprint-based background checks is
imperative for the Exchange as they help ISE identify and exclude
persons with felony or misdemeanor conviction records that may pose a
threat to the safety of Exchange personnel or the security of
facilities and records, thereby enhancing business continuity,
workplace safety and the security of the Exchange's operations and
helping to protect investors and the public interest. Additionally, the
proposed procedural change will allow ISE to employ the same
fingerprinting method currently employed by at least one other SRO.\20\
---------------------------------------------------------------------------

    \19\ See Supra note 9.
    \20\ See Supra note 13.
---------------------------------------------------------------------------

    For the foregoing reasons, the Exchange believes that the proposed
procedural change under the existing rule is appropriate in order to
ensure continued compliance with applicable state and federal laws.\21\
---------------------------------------------------------------------------

    \21\ See Supra note 9.
---------------------------------------------------------------------------

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

    ISE does not believe that the proposed procedural change under the
rule will impose any burden on competition that is not necessary or
appropriate in the furtherance of the purposes of the Act. The proposed
procedural change under the rule would enhance the security of the
Exchange's facilities and records without adding any burden on market
participants and allow the Exchange continued compliance with its
fingerprinting rules and with Section 17(f)(2) of the Act as amended by
the Dodd-Frank Act.\22\
---------------------------------------------------------------------------

    \22\ See Section 929S of the Dodd-Frank 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 proposed rule change will take effect upon filing
with the Commission pursuant to Section 19(b)(3)(A)(i) of the Act \23\
and Rule 19b-4(f)(1) thereunder,\24\ because it constitutes a stated
policy, practice, or interpretation with respect to the meaning,
administration, or enforcement of an existing rule.
---------------------------------------------------------------------------

    \23\ 15 U.S.C. 78s(b)(3)(A)(i).
    \24\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.

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 No. SR-ISE-2013-66 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-2013-66. 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 Commissions 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 10 a.m. and 3 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of the 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-2013-66 and should be
submitted by January 8, 2014.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\25\
---------------------------------------------------------------------------

    \25\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-30049 Filed 12-17-13; 8:45 am]
BILLING CODE 8011-01-P