[Federal Register Volume 78, Number 126 (Monday, July 1, 2013)]
[Notices]
[Pages 39346-39352]
[FR Doc No: 2013-15616]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69848; File No. SR-Phlx-2013-69]

Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Establish
an Acceptable Trade Range for Orders and Quotes on PHLX XL

June 25, 2013.
    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 18, 2013, NASDAQ OMX PHLX LLC
(``Phlx'' 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.
---------------------------------------------------------------------------

    \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 establish an Acceptable Trade Range for
orders and quotes on PHLX XL. The Acceptable Trade Range functionality
is intended to dampen volatility when necessary in rare cases of
unusual market conditions by allowing orders to execute within a
succession of price-range steps. At the end of each price-range step,
the process allows the market a brief time-period to refresh itself
before moving on with the execution process, as described further
below. Similar mechanisms operate on other options exchanges.
    The text of the proposed rule change is below; proposed new
language is italicized; proposed deletions are in brackets.
* * * * *

Rule 1080 Phlx XL and Phlx XL II

* * * * *
    (p) Acceptable Trade Range.
    (A) After the opening, the System will calculate an Acceptable
Trade Range to limit the range of prices at which an order or quote
(except an All-or-none order) will be allowed to execute. The
Acceptable Trade Range is calculated by taking the Reference Price,
plus or minus a value to be determined by the Exchange. (i.e., the
Reference Price--(x) for sell orders/quotes and the Reference Price +
(x) for buy orders/quotes). Upon receipt of a new order/quote, the
Reference Price is the National Best Bid (``NBB'') for sell orders and
the National Best Offer (``NBO'') for buy orders/quotes or the last
price at which the order/quote is posted whichever is higher for a buy
order/quote or lower for a sell order/quote.
    (B) If an order/quote reaches the outer limit of the Acceptable
Trade Range (the ``Threshold Price'') without being fully executed, it
will be posted at the Threshold Price for a brief period, not to exceed
one second (``Posting Period''), to allow more liquidity to be
collected, unless a Quote Exhaust has occurred, in which case the Quote
Exhaust process in Rule 1082(a)(ii)(B)(3) will ensue, triggering a new
Reference Price. Upon posting, either the current Threshold Price of
the order or an updated NBB for buy orders or the NBO for sell orders
(whichever is higher for a buy order/lower for a sell order) then
becomes the Reference Price for calculating a new Acceptable Trade
Range. If the order/quote remains unexecuted, a New Acceptable Trade
Range will be calculated and the order/quote will execute, route, or
post up to the new Acceptable Trade Range Threshold Price, unless a
member organization has requested that their orders be returned if
posted at the outer limit of the Acceptable Trade Range (in which case,
the order will be returned). This process will repeat until either i)
the order/quote is executed, cancelled, or posted at its limit price or
ii) the order has been subject to a configurable number of instances of
the Acceptable Trade Range as determined by the Exchange (in which case
it will be returned).
    (C) During the Posting Period, the Exchange will disseminate as a
quotation: (i) the Threshold Price for the remaining size of the order
triggering the Acceptable Trade Range and (ii) on the opposite side of
the market, the best price will be displayed using the ``non-firm''
indicator message in accordance with the specifications of the network
processor. Following the Posting Period, the Exchange will return to a
normal trading state and disseminate its best bid and offer.
* * * * *

Rule 1082 Firm Quotations

    (a)(i)-(ii)(B)(3)(g)(v) No change.
    (vi) If, after trading at the Phlx and/or routing, there is a
remainder of the initiating order, and such remainder is still
marketable, the entire process of evaluating the Best Phlx price and
the ABBO will be repeated until: (A) the order size is exhausted, or
(B) the order reaches its limit price. If there still remain unexecuted
contracts after routing but the order has reached its limit price, the
remainder will be posted at the order's limit price, except that, when
the limit price crosses the Acceptable Range Price, the remainder will
be posted at the Acceptable Range Price for a period of time not to
exceed ten seconds [and then cancelled after such period of time has
elapsed, unless the member that submitted the original order has
instructed the Exchange in writing to re-enter the remaining size, in
which case the remaining size will be automatically submitted as a new
order]. During this up to ten second period, the Phlx XL II system will
disseminate on the opposite side of the market from remaining
unexecuted contracts: (i) a non-firm bid for the price and size of the
next available bid(s) on the Exchange if the remaining size is a
seller, or (ii) a non-firm offer for the price and size of the next
available offer(s) on the Exchange if the remaining size is a buyer.
After such time period, the Acceptable Range Price becomes the
Reference Price and Acceptable Trade Range (pursuant to Rule 1080(p))
is applied to the remaining size of the order.
    (4) No change.
    (C) No change.
    (iii)-(iv) No change.
    (b)-(d) No change.

Commentary:
.01--.03 No change.
* * * * *

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
    PHLX is proposing to adopt a mechanism that will prevent the PHLX
trading System, Phlx XL, (``System'') from experiencing dramatic price
swings. This circumstance can exist if, for example, a market order or
aggressively priced limit order/quote is entered that is larger than
the total volume of contracts quoted at the top-of-book across all U.S.
options exchanges. Currently, without any protections in place, this
could result in options executing at prices that have little or no
relation to the theoretical price of the option.
    For example, in a thinly traded option:
    Away Exchange Quotes:

----------------------------------------------------------------------------------------------------------------
                  Exchange                        Bid size        Bid price       Offer price       Offer size
----------------------------------------------------------------------------------------------------------------
NOM.........................................              10            $1.00            $1.05               10
NYSE Arca...................................              10             1.00             1.05               10
NYSE MKT....................................              10             1.00             1.10               10
BOX.........................................              10             1.00             1.15               10
----------------------------------------------------------------------------------------------------------------

    PHLX Price Levels:

----------------------------------------------------------------------------------------------------------------
                  Exchange                        Bid size        Bid price       Offer price       Offer size
----------------------------------------------------------------------------------------------------------------
PHLX orders.................................              10            $1.00            $1.05               10
PHLX orders.................................  ...............  ...............            1.10               10
PHLX orders.................................  ...............  ...............            1.40               10
PHLX orders.................................  ...............  ...............            5.00               10
----------------------------------------------------------------------------------------------------------------

    If PHLX receives a routable market order to buy 80 contracts, the
System will respond as described below:

--10 contracts will be executed at $1.05 against NOM
--10 contracts will be executed at $1.05 against PHLX
--10 contracts will be executed at $1.05 against NYSE Arca
--10 contracts will be executed at $1.10 against PHLX
--10 contracts will be executed at $1.10 against NYSE MKT
--10 contracts will be executed at $1.15 against BOX

After these executions, there are no other known valid away exchange
quotes. The National Best Bid/Offer (``NBBO'') is therefore comprised
of the remaining interest on the PHLX book, specifically 10 contracts
at $1.40 and 10 contracts at $5.00. In the absence of an Acceptable
Trade Range mechanism, the order would execute against the remaining
interest at $1.40 and $5.00, resulting in potential harm to investors.
    To bolster the normal resilience and market behavior that
persistently produces robust reference prices, PHLX is proposing to
create a level of protection that prevents the market from moving
beyond set thresholds. The thresholds consist of a Reference Price plus
(minus) set dollar amounts based on the nature of the option and the
premium of the option. PHLX is not introducing a new concept. In fact,
the NASDAQ Options Market and NASDAQ OMX BX, Inc.'s options market have
an Acceptable Trade Range feature.\3\
---------------------------------------------------------------------------

    \3\ See NOM Rules, Chapter VI, Section 10(7) and BX Options
Rules, Chapter VI, Section 10(7).
---------------------------------------------------------------------------

    System Operation. The proposed Acceptable Trade Range would work as
follows: prior to executing orders received by PHLX, an Acceptable
Trade Range is calculated to determine the range of prices at which
orders may be executed.\4\ When an order is initially received, the
threshold is calculated by adding (for buy orders) or subtracting (for
sell orders) a value,\5\ as discussed below, to the National Best Offer
for buy orders or the National Best Bid for sell orders to determine
the range of prices that are valid for execution. A buy (sell) order
will be allowed to execute up (down) to and including the maximum
(minimum) price within the Acceptable Trade Range.
---------------------------------------------------------------------------

    \4\ The Acceptable Trade Range will not be available for All-or-
none orders, as defined in Rule 1066(c)(4). The Exchange has
determined that it would be difficult, from a technical standpoint,
to apply this feature to those orders because their particular
contingency makes it difficult to automate their handling. All-or-
none orders are often treated differently than other orders. See
Options Floor Procedure Advice A-9.
    \5\ The value that is to be added to/subtracted from the
Reference Price will be set by PHLX and posted on its Web site:
http://www.nasdaqtrader.com.
---------------------------------------------------------------------------

    If an order reaches the outer limit of the Acceptable Trade Range
(the ``Threshold Price'') without being fully executed, it will be
posted at the Threshold Price for a brief period, not to exceed one
second (``Posting Period''), to allow the market to refresh and to
determine whether or not more liquidity will become available (on PHLX
or any other exchange if the order is designated as routable), unless a
Quote Exhaust has occurred, in which case the Quote Exhaust process in
Rule 1082(a)(ii)(B)(3) will ensue,\6\ triggering a new Reference Price.
---------------------------------------------------------------------------

    \6\ The Quote Exhaust process occurs when the Exchange's
disseminated market at a particular price level includes a quote,
and such market is exhausted by an inbound contra-side quote or
order, and following such exhaustion, contracts remain to be
executed from such quote or order through the initial execution
price.
---------------------------------------------------------------------------

    Upon posting, either the current Threshold Price of the order or an
updated NBB for buy orders or the NBO for sell orders (whichever is
higher for a buy order/lower for a sell order) then becomes the
Reference Price for calculating a new Acceptable Trade Range. If the
order remains unexecuted, a new Acceptable Trade Range will be
calculated and the order will execute, route, or post up to the new
Acceptable Trade Range Threshold Price, unless a member organization
has requested that their orders be returned if posted at the outer
limit of the Acceptable Trade Range (in which case, the order will be
returned). This process will repeat until either (i) the order/quote is
executed, cancelled, or posted at its limit price or (ii) the order/
quote has been subject to a configurable number of instances of the
Acceptable Trade Range as determined by the Exchange.\7\ Once the
maximum number of instances has been reached, the order is returned.
---------------------------------------------------------------------------

    \7\ Member organizations can request that the Acceptable Trade
Range not apply to their orders, in which case, the order would be
cancelled back to the member organization.
---------------------------------------------------------------------------

    During the Posting Period, any eligible contra-side interest that
is received can trade. If, however a more aggressively-priced same side
order is received during the Posting Period, the Posting Period ends,
because there is no need to wait for the market to refresh and attract
interest to the original order. Such new same side order indicates that
the market is moving in that direction so the original order will trade
at the current Acceptable Trade Range, with the Acceptable Trade Range
recalculated for both orders.
    During the Posting Period, PHLX will disseminate the Threshold
Price on one side of the market and the best available price on the
opposite side of the market using a ``non-firm'' indicator.\8\ This
allows the order setting the Acceptable Trade Range Threshold Price to
retain priority in the PHLX book and also prevents any later-entered
order from accessing liquidity ahead of it. If PHLX were to display
trading interest available on the opposite side of the

market, that trading interest would be automatically accessible to
later-entered orders during the period when the order triggering the
Acceptable Trade Range is paused. Following the Posting Period, the
Exchange will return to a normal trading state and disseminate its best
bid and offer.
---------------------------------------------------------------------------

    \8\ Non-firm quote indication values are described on page 18 of
the specifications disseminated by the Options Price Regulatory
Authority (``OPRA''). See http://www.opradata.com/specs/participant_interface_specification.pdf. This will be disseminated
both to OPRA and over the Exchange's own data feeds.
---------------------------------------------------------------------------

    PHLX believes that disseminating a non-firm quotation message as
described above is consistent with its obligations under the SEC Quote
Rule.\9\ The fact that PHLX is experiencing volatility that is strong
enough to trigger the Acceptable Trade Range mechanism qualifies as an
unusual market condition. PHLX expects such situations to be rare, and,
as described below, PHLX will set the parameters of the mechanism at
levels that will ensure that it is triggered quite infrequently. In
addition, the Acceptable Trade Range mechanism will cause the market to
pause for no more than one second, the same pause that currently exists
on NOM and BX Options. Importantly, the brief pause only occurs after
the Exchange has already executed transactions--potentially at multiple
price levels--rather than pausing before executing any transactions in
the hopes of attracting initial liquidity.
---------------------------------------------------------------------------

    \9\ 17 CFR 242.602.
---------------------------------------------------------------------------

    Importantly, the Acceptable Trade Range is neutral with respect to
away markets. Consistent with the routing provisions in Rule 1080(m),
an order may route to other destinations to access liquidity priced
within the Acceptable Trade Range provided the order is designated as
routable. If the order still remains unexecuted, this process will
repeat \10\ until the order is executed, cancelled, or posted at its
limit price, consistent with PHLX routing rules.\11\
---------------------------------------------------------------------------

    \10\ PHLX will establish a maximum number of Acceptable Trade
Range iterations, until the order is cancelled.
    \11\ See PHLX Rule 1080(m). If after an order is routed to the
full size of an away exchange and additional size remains available,
the remaining contracts will be posted on PHLX at a price that
assumes the away market has executed the routed order. This practice
of routing and then posting is consistent with the national market
system plan governing trading and routing of options orders and the
PHLX policies and procedures that implement that plan. See Options
Order Protection and Locked/Crossed Markets Plan; Securities
Exchange Act Release No. 60405 (July 30, 2009), 74 FR 39362 (August
6, 2009); NOM Rules Chapter VI, Section 7(b)(3)(C).
---------------------------------------------------------------------------

    For example, assume that the Acceptable Trade Range is set for
$0.05 and the following quotations are posted in all markets:
    Away Exchange Quotes:

----------------------------------------------------------------------------------------------------------------
                  Exchange                        Bid size        Bid price       Offer price       Offer size
----------------------------------------------------------------------------------------------------------------
ISE.........................................              10            $0.75            $0.90               10
NYSE MKT....................................              10             0.75             0.92               10
NOM.........................................              10             0.75             0.94               10
----------------------------------------------------------------------------------------------------------------

    PHLX Price Levels:

----------------------------------------------------------------------------------------------------------------
                  Exchange                        Bid size        Bid price       Offer price       Offer size
----------------------------------------------------------------------------------------------------------------
PHLX orders.................................              10            $0.75            $0.90               10
PHLX order..................................  ...............  ...............            0.95               10
PHLX order..................................  ...............  ...............            0.97               10
PHLX order..................................  ...............  ...............            1.00               20
----------------------------------------------------------------------------------------------------------------

PHLX receives a routable order to buy 70 contracts at $1.10. The
Acceptable Trade Range is $0.05 and the Reference Price is the National
Best Offer--$0.90. The Threshold Price is then $0.90 + $0.05 = $0.95.
The order is allowed to execute up to and including $0.95. The System
then pauses for a brief period not to exceed one second (the Posting
Period) to allow the market (including other exchanges) to refresh and
to determine whether additional liquidity will become available within
the order's posted price. If additional liquidity becomes available on
PHLX or any away market, that liquidity will be accessed and executed.

--10 contracts will be executed at $0.90 against PHLX
--10 contracts will be executed at $0.90 against ISE
--10 contracts will be executed at $0.92 against NYSE MKT
--10 contracts will be executed at $0.94 against NOM
--10 contracts will be executed at $0.95 against PHLX
--Then, after executing at multiple price levels, the order is posted
at $0.95 for a brief period not to exceed one second to determine
whether additional liquidity will become available.
--A new Acceptable Trade Range Threshold Price of $1.00 is determined
(new Reference Price of $0.95 + $0.05 = $1.00)
--If, during the Posting Period, no liquidity becomes available within
the order's posted price of $0.95, the System will then execute 10
contracts at $0.97, and 10 contracts at $1.00 \12\
---------------------------------------------------------------------------

    \12\ The brief pause described above will not disadvantage
customers seeking the best price in any market. For example, if in
the example above an NYSE ARCA quote of $0.75 x $0.96 with size of
10 x 10 is received, a routable order would first route to NYSE ARCA
at $0.96, then execute against PHLX at $0.97.

Similarly, if a new order is received when a previous order has reached
the Acceptable Trade Range threshold, the Threshold Price will be used
as the Reference Price for the new Acceptable Trade Range threshold.
Both orders would then be allowed to execute up (down) to the new
---------------------------------------------------------------------------
Threshold Price.

    For example:
    Away Exchange Quotes:

----------------------------------------------------------------------------------------------------------------
                  Exchange                        Bid size        Bid price       Offer price       Offer size
----------------------------------------------------------------------------------------------------------------
ISE.........................................              10            $0.75            $0.90               10
NYSE MKT....................................              10             0.75             0.92               10
NOM.........................................              10             0.75             0.94               10
----------------------------------------------------------------------------------------------------------------

    PHLX Price Levels:

----------------------------------------------------------------------------------------------------------------
                  Exchange                        Bid size        Bid price       Offer price       Offer size
----------------------------------------------------------------------------------------------------------------
PHLX orders.................................              10            $0.75            $0.90               10
PHLX order..................................  ...............  ...............            0.95               10
PHLX order..................................  ...............  ...............            1.05               20
----------------------------------------------------------------------------------------------------------------

--PHLX receives a routable order to buy 60 contracts at $1.10. The
Acceptable Trade Range is $0.05 and the Reference Price is the National
Best Offer--$0.90. The Acceptable Trade Range threshold is then $0.90 +
$0.05 = $0.95. The order is allowed to execute up to and including
$0.95.
--10 contracts will be executed at $0.90 against PHLX
--10 contracts will be executed at $0.90 against ISE
--10 contracts will be executed at $0.92 against NYSE MKT
--10 contracts will be executed at $0.94 against NOM
--10 contracts will be executed at $0.95 against PHLX
--Then, after executing at multiple price levels, the order is posted
at $0.95 for a brief period not to exceed one second to determine
whether additional liquidity will become available.
--A new Acceptable Trade Range Threshold Price of $1.00 is determined
(new Reference Price of $0.95 + $0.05 = $1.00)
--If, during the brief period not to exceed one second, a second order
is received to buy 10 contracts at $1.25, the two orders would then
post at the new Acceptable Trade Range Threshold price of $1.00 for a
brief period not to exceed one second to determine whether additional
liquidity will become available.
--A new Acceptable Trade Range threshold of $1.05 will be calculated.
--If no additional liquidity becomes available within the posted price
of the orders ($1.00) during the brief period not to exceed one second,
the orders would execute 10 contracts each against the order on the
PHLX book at $1.05

In addition, an order/quote which triggers a Quote Exhaust process, as
explained above, will also be protected by the Acceptable Trade Range.
When an order/quote triggers Quote Exhaust, the price at which the
order/quote is posted becomes the Reference Price and the order/quote
would then be allowed to execute up (down) to the new Threshold Price.
    For example:
    Away Exchange Quotes:

----------------------------------------------------------------------------------------------------------------
                  Exchange                        Bid size        Bid price       Offer price       Offer size
----------------------------------------------------------------------------------------------------------------
ISE.........................................              10            $0.75            $0.90               10
NYSE MKT....................................              10             0.75             0.98               10
NOM.........................................              10             0.75             0.98               10
----------------------------------------------------------------------------------------------------------------

    PHLX Price Levels:

----------------------------------------------------------------------------------------------------------------
                  Exchange                        Bid size        Bid price       Offer price       Offer size
----------------------------------------------------------------------------------------------------------------
PHLX MM Quote...............................              10            $0.75            $0.92               10
PHLX order..................................  ...............  ...............            0.99               20
----------------------------------------------------------------------------------------------------------------

--PHLX receives a routable order to buy 60 contracts at $1.10. The
Acceptable Trade Range is $0.05 and the Reference Price is the National
Best Offer--$0.90. The Acceptable Trade Range threshold is then $0.90 +
$0.05 = $0.95. The order is allowed to execute up to and including
$0.95.
--10 contracts will be executed at $0.90 against ISE
--10 contracts will be executed at $0.92 against PHLX MM Quote,
triggering Quote Exhaust. At the end of the Quote Exhaust Timer, based
on the Quote Exhaust Acceptable Range table, the order will be posted
at a price of $0.97 (assuming a $0.05 Acceptable Range). The Acceptable
Trade Range threshold becomes $0.97 + $0.05 = $1.02. The order is
allowed to execute up to and including $1.02.
--10 contracts will be executed at $0.98 against NYSE Amex
--10 contracts will be executed at $0.98 against NOM
--20 contracts will be executed at $0.99 against PHLX

    The Exchange is also proposing to amend Rule 1082, Firm Quotations
to address that the Quote Exhaust process will culminate with the
application of the Acceptable Trade Range under proposed Rule 1080(p),
rather than either cancelling or re-entering the remaining size of the
order. Specifically, the Exchange proposes to amend Rule
1082(a)(ii)(B)(3)(g)(vi) to provide that the Acceptable Range Price
becomes the Reference Price and the Acceptable Trade Range (pursuant to
Rule 1080(p)) is applied to the remaining size of the order. This would
occur after the brief time period (of no more than ten seconds) when
the order is posted at the Acceptable Range Price, which is part of the
Quote Exhaust process. Because the Acceptable Trade Range, under this
proposal, will now protect the remainder of the order, the Exchange
does not believe that it needs to cancel the order or offer the
alternative that member organizations provide instructions if they
would prefer the remainder to be re-entered. The Exchange is not
otherwise changing the Quote Exhaust process.
    Setting Acceptable Trade Range Values. The options premium will be
the dominant factor in determining the Acceptable Trade Range.
Generally, options with lower premiums tend to be more liquid and have
tighter bid/ask spreads; options with higher premiums have wider
spreads and less liquidity. Accordingly, a table consisting of several
steps based on the premium of the option will be used to determine how
far the market for a given option will be allowed to move. This table
or tables would be listed on the NASDAQTrader.com Web site and any
periodic updates to the table would be announced via an Options Trader
Alert.

    For example, looking at some SPY May 2013 Call options on May 1st
of 2013:

Bid/Offer of SPY May 160 Call (at or near-the-money): $1.23 x $1.24
(several hundred contracts on bid and offer)
Bid/Offer of SPY May 105 Call (deep in-the-money): $54.10 x $54.26 (11
contracts on each side)

The deep in-the-money calls (May 105 calls) have a wider spread ($54.10
- $54.26 = $0.16) compared to a spread of $0.01 for the at-the-money
calls (May 160 calls). Therefore, it is appropriate to have different
thresholds for the two options. For instance, it may make sense to have
a $0.05 threshold for the at-the-money strikes (Premium < $2) and a
$0.50 threshold for the deep in-the-money strikes (Premium > $10).

    To consider another example, the May 2013 ORCL put options on May
1st of 2013:

Bid/Offer of ORCL 33 May Put (at or near-the-money): $0.33 x $0.34 (100
x 500)
Bid/Offer of ORCL 44 May Put (deep in-the-money): $10.40 x $10.55 (50 x
200)

Even though ORCL has a much lower share price than SPY, and is a
different type of security (it is a common stock of a technology
company whereas SPY is an ETF based on the S&P 500 Index), the pattern
is the same. The option with the lower premium has a very narrow spread
of $0.01 with significant size displayed whereas the higher premium
option has a wide spread ($0.15) and less size displayed.

    The Acceptable Trade Range settings will be tied to the option
premium. However, other factors will be considered when determining the
exact settings. For example, Acceptable Ranges may change if market-
wide volatility is as high as it was during the financial crisis in
2008 and 2009, or if overall liquidity is low based on historical
trends. These different market conditions may present the need to
adjust the threshold amounts from time to time to ensure a well-
functioning market. Without adjustments, the market may become too
constrained or conversely, prone to wide price swings. As stated above,
the Exchange would publish the Acceptable Trade Range table or tables
on the NASDAQTrader.com Web site. The Exchange does not foresee
updating the table(s) often or intraday, although the exchange may
determine to do so in extreme circumstances. The Exchange will provide
sufficient advanced notice of changes to the Acceptable Trade Range
table, generally the prior day, to its membership via Options Trader
Alerts.
    The Acceptable Trade Range settings would generally be the same
across all options traded on PHLX, although PHLX proposes to maintain
flexibility to set them separately based on characteristics of the
underlying security. For instance, Google is a stock with a high share
price ($824.57 closing price on April 30th). Google options therefore
may require special settings due to the risk involved in actively
quoting options on such a high-priced stock. Option spreads on Google
are wider and the size available at the best bid and offer is smaller.
Google could potentially need a wider threshold setting compared to
other lower-priced stocks. There are other options that fit into this
category (e.g. AAPL) which makes it necessary to have threshold
settings that have flexibility based on the underlying security.
Additionally, it is generally observed that options subject to the
Penny Pilot program quote with tighter spreads than options not subject
to the Penny Pilot. Currently, PHLX expects to set Acceptable Trade
Ranges for three categories of options: Standard Penny Pilot, Special
Penny Pilot (IWM, QQQQ, SPY), and Non-Penny Pilot.\13\
---------------------------------------------------------------------------

    \13\ The Acceptable Range Test in Rule 1082(a)(ii)(B)(3)(f)
currently provides for this flexibility, in addition to the
comparable provisions in NOM and BX Options rules. See NOM Rules,
Chapter VI, Section 10(7) and BX Options Rules, Chapter VI, Section
10(7).
---------------------------------------------------------------------------

2. Statutory Basis
    PHLX believes the proposed rule change is consistent with the
provisions of Section 6 of the Act,\14\ in general and with Section
6(b)(5) of the Act,\15\ in particular, which requires that the rules of
an exchange be designed to prevent fraudulent and manipulative acts and
practices, promote just and equitable principles of trade, foster
cooperation and coordination with persons engaged in regulating,
clearing, settling, processing information with respect to, and
facilitating transactions in securities, 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. The
proposed rule change is consistent with these requirements in that it
will reduce the negative impacts of sudden, unanticipated volatility in
individual PHLX options, and serve to preserve an orderly market in a
transparent and uniform manner, enhance the price-discovery process,
increase overall market confidence, and promote fair and orderly
markets and the protection of investors. Specifically, the Exchange
believes that the NBBO is a fair representation of then-available
prices and accordingly the proposal helps to avoid executions at prices
that are significantly worse than the NBBO. Also, this proposal is
consistent with existing rules that allow, when the underlying security
is subject to a ``Limit State'' or ``Straddle State,'' as defined in
the Limit Up-Limit Down Plan, for the breaking of options trades
meeting the definition of an obvious error as well as rejecting market
orders.\16\
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78f.
    \15\ 15 U.S.C. 78f(b)(5).
    \16\ See PHLX Rule 1047(f).
---------------------------------------------------------------------------

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

    PHLX does not believe that the proposed rule change will result in
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act, as amended. Specifically, the
proposal does not impose an intra-market burden on competition, because
it will apply to the orders and quotes of all Options Participants. Nor
will the proposal impose a burden on competition among the options
exchanges, because of the vigorous competition for order flow among the
options exchanges. PHLX competes with many other options exchanges, all
of which offer electronic trading of options and certain routing
services. In this highly competitive market, market participants can
easily and readily direct order flow to competing venues.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \17\ and Rule 19b-4(f)(6) \18\ thereunder
because the proposal does not: (i) Significantly affect the protection
of investors or the public interest; (ii) impose any significant burden
on competition; and (iii) by its terms, become operative for 30 days
from the date on which it was filed, or such shorter time as the
Commission may designate if consistent with the

protection of investors and the public interest.\19\
---------------------------------------------------------------------------

    \17\ 15 U.S.C. 78s(b)(3)(A).
    \18\ 17 CFR 240.19b-4(f)(6).
    \19\ In addition, Rule 19b-4(f)(6)(iii) requires the Exchange to
give the Commission written notice of the Exchange's intent to file
the proposed rule change, along with a brief description and text of
the proposed rule change, at least five business days prior to the
date of filing of the proposed rule change, or such shorter time as
designated by the Commission. The Exchange has satisfied this
requirement.
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.\20\
---------------------------------------------------------------------------

    \20\ 15 U.S.C. 78s(b)(3)(C).
---------------------------------------------------------------------------

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-Phlx-2013-69 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-Phlx-2013-69. 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-Phlx-2013-69 and should be
submitted on or before July 22, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\21\
---------------------------------------------------------------------------

    \21\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-15616 Filed 6-28-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 250 (Thursday, December 29, 2016)]
[Notices]
[Pages 95975-95977]
[FR Doc No: 2016-31534]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #2

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

    Docket Numbers: EG17-35-000.
    Applicants: Grady Wind Energy Center, LLC.
    Description: Notice of Self-Certification of Exempt Wholesale
Generator Status of Grady Wind Energy Center, LLC.
    Filed Date: 12/21/16.
    Accession Number: 20161221-5418.
    Comments Due: 5 p.m. ET 1/11/17.

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

    Docket Numbers: ER10-1790-014; ER10-1821-014; ER11-2029-005.
    Applicants: BP Energy Company, Cedar Creek II, LLC, Goshen Phase II
LLC.
    Description: Updated Market Power Analysis for Northwest Region of
BP Energy Company, et al.
    Filed Date: 12/21/16.
    Accession Number: 20161221-5459.
    Comments Due: 5 p.m. ET 2/21/17.

    Docket Numbers: ER10-2759-006; ER10-2631-006; ER10-2732-012; ER10-
2733-012; ER10-2734-012; ER10-2736-012; ER10-2737-012; ER10-2741-012;
ER10-2749-012; ER10-2752-012; ER12-2492-008; ER12-2493-008; ER12-2494-
008; ER12-2495-008; ER12-2496-008; ER13-815-004; ER14-264-003; ER16-
2455-002; ER16-2456-002; ER16-2457-002; ER16-2458-002; ER16-2459-002.
    Applicants: Bridgeport Energy LLC, Emera Energy Services, Inc.,
Emera Energy U.S. Subsidiary No. 1, Inc., Emera Energy U.S. Subsidiary
No. 2, Inc., Emera Energy Services Subsidiary No. 1 LLC, Emera Energy
Services Subsidiary No. 2 LLC, Emera Energy Services Subsidiary No. 3
LLC, Emera Energy Services Subsidiary No. 4 LLC, Emera Energy Services
Subsidiary No. 5 LLC, Emera Energy Services Subsidiary No. 6 LLC, Emera
Energy Services Subsidiary No. 7 LLC, Emera Energy Services Subsidiary
No. 8 LLC, Emera Energy Services Subsidiary No. 9 LLC, Emera Energy
Services Subsidiary No. 10 LLC, Emera Energy Services Subsidiary No. 11
LLC, Emera Energy Services Subsidiary No. 12 LLC, Emera Energy Services
Subsidiary No. 13 LLC, Emera Energy Services Subsidiary No. 14 LLC,
Emera Energy Services Subsidiary No. 15 LLC, Emera Maine, Rumford Power
Inc., Tiverton Power LLC.
    Description: Triennial Update for the Northeast Region of
Bridgeport Energy LLC, et al.
    Filed Date: 12/21/16.
    Accession Number: 20161221-5467.
    Comments Due: 5 p.m. ET 2/21/17.

    Docket Numbers: ER12-540-007; ER10-1346-006; ER10-1348-006; ER12-
539-007.

    Applicants: APDC, Inc., Atlantic Power Energy Services (US) LLC,
Frederickson Power L.P., ManChief Power Company LLC.
    Description: Triennial market power update for Northwest region of
APDC, Inc., et al.
    Filed Date: 12/21/16.
    Accession Number: 20161221-5462.
    Comments Due: 5 p.m. ET 2/21/17.

    Docket Numbers: ER13-1944-006.
    Applicants: PJM Interconnection, L.L.C.
    Description: Compliance filing: Errata to Correct MISO-PJM JOA
section 9.4 effective May 30, 2016 to be effective 5/30/2016.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5085.
    Comments Due: 5 p.m. ET 1/3/17.

    Docket Numbers: ER15-2589-000.
    Applicants: CPV Shore, LLC.
    Description: Report Filing: Informational Filing Regarding Planned
Transfer to be effective N/A.
    Filed Date: 12/21/16.
    Accession Number: 20161221-5241.
    Comments Due: 5 p.m. ET 1/11/17.

    Docket Numbers: ER16-771-001.
    Applicants: Midcontinent Independent System Operator, Inc.,
Consumers Energy Company.
    Description: Compliance filing: 2016-12-22_Consumers Energy WDS
Agreements (Compliance) to be effective 4/1/2016.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5065.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-110-001.
    Applicants: California Independent System Operator Corporation.
    Description: Compliance filing: 2016-12-22 Aliso Canyon Gas-
Electric Coordination Enhancement Phase 2 Compliance to be effective
11/30/2016.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5167.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-423-000.
    Applicants: Rubicon NYP Corp.
    Description: Amendment to November 29, 2016 Rubicon NYP Corp tariff
filing [Asset Appendix B].
    Filed Date: 12/22/16.
    Accession Number: 20161222-5348.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-615-000.
    Applicants: Albany Green Energy, LLC.
    Description: Baseline eTariff Filing: Albany Green Energy LLC MBR
Application Filing to be effective 2/20/2017.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5452.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-630-000.
    Applicants: North Wind Turbines LLC.
    Description: Sec.  205(d) Rate Filing: Market-Based Rate Tariff
Revisions to be effective 12/23/2016.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5114.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-631-000.
    Applicants: Norwalk Power LLC.
    Description: Sec.  205(d) Rate Filing: Market-Based Rate Tariff
Revisions to be effective 12/23/2016.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5117.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-632-000.
    Applicants: NRG Power Marketing LLC.
    Description: Sec.  205(d) Rate Filing: Market-Based Rate Tariff
Revisions to be effective 12/23/2016.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5122.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-633-000.
    Applicants: Reliant Energy Northeast LLC.
    Description: Sec.  205(d) Rate Filing: Market-Based Rate Tariff
Revisions to be effective 12/23/2016.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5125.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-634-000.
    Applicants: RRI Energy Services, LLC.
    Description: Sec.  205(d) Rate Filing: Market-Based Rate Tariff
Revisions to be effective 12/23/2016.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5126.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-635-000.
    Applicants: Saguaro Power Company, A Limited Partner.
    Description: Sec.  205(d) Rate Filing: Market-Based Rate Tariff
Revisions to be effective 12/23/2016.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5131.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-636-000.
    Applicants: Southern California Edison Company.
    Description: Sec.  205(d) Rate Filing: DSA 5149 Lancaster Energy
Project SA No. 915 to be effective 2/21/2017.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5138.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-637-000.
    Applicants: Pennsylvania Electric Company, Mid-Atlantic Interstate
Transmission, LLC, PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Pennsylvania Electric
Company and MAIT submit Service Agreement No. 4555 to be effective 1/1/
2017.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5205.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-638-000.
    Applicants: Southern California Edison Company.
    Description: Sec.  205(d) Rate Filing: True Up of Costs for the
Grand Crossing WDLA to be effective 2/23/2017.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5304.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-639-000.
    Applicants: Trans Bay Cable LLC.
    Description: Sec.  205(d) Rate Filing: Annual TRBAA filing to be
effective 1/1/2017.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5332.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-640-000.
    Applicants: Duke Energy Progress, LLC.
    Description: Sec.  205(d) Rate Filing: Waynesville NITSA Amendment
SA No. 303 to be effective 1/1/2017.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5352.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-641-000.
    Applicants: Florida Power & Light Company.
    Description: Notice of Cancellation of Second Revised Service
Agreement No. 194 of Florida Power & Light Company.
    Filed Date: 12/21/16.
    Accession Number: 20161221-5465.
    Comments Due: 5 p.m. ET 1/11/17.

    Docket Numbers: ER17-642-000.
    Applicants: Florida Power & Light Company.
    Description: Notice of Cancellation of Rate Schedule No. 305\4 of
Florida Power & Light Company.
    Filed Date: 12/21/16.
    Accession Number: 20161221-5466.
    Comments Due: 5 p.m. ET 1/11/17.

    Docket Numbers: ER17-643-000.
    Applicants: New Brunswick Energy Marketing Corporation.
    Description: Sec.  205(d) Rate Filing: Revisions to Market-Based
Rate Tariff to be effective 12/23/2016.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5437.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-644-000.
    Applicants: Talen Energy Marketing, LLC.
    Description: Sec.  205(d) Rate Filing: Revised Market-Based Rate
Tariff to be effective 2/22/2017.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5455.
    Comments Due: 5 p.m. ET 1/12/17.

    Docket Numbers: ER17-645-000.
    Applicants: Talen Montana, LLC.
    Description: Sec.  205(d) Rate Filing: Revised Market-Based Rate
Tariff to be effective 2/22/2017.
    Filed Date: 12/22/16.
    Accession Number: 20161222-5456.
    Comments Due: 5 p.m. ET 1/12/17.

    The filings are accessible in the Commission's eLibrary system by
clicking on the links or 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: December 22, 2016.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2016-31534 Filed 12-28-16; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 78, Number 228 (Tuesday, November 26, 2013)]
[Proposed Rules]
[Page 70516]
[FR Doc No: 2013-27705]

=======================================================================
-----------------------------------------------------------------------

ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R05-OAR-2013-0501; FRL 9902- 27-Region 5]

Approval and Promulgation of Air Quality Implementation Plans;
Illinois

AGENCY: Environmental Protection Agency (EPA).

ACTION: Proposed rule.

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

SUMMARY: EPA is proposing to approve a revision to the Illinois state
implementation plan (SIP). The submission amends the Illinois
Administrative Code by updating the definition of ``Volatile organic
material (VOM) or Volatile organic compound (VOC)'' to add trans-
1,3,3,3-tetra-flouropropene (HFO-1234ze) to the list of compounds
excluded from the definition of VOM or VOC. This revision is based on
EPA's 2012 rulemaking which added HFO-1234ze to the list of chemical
compounds that are excluded from the Federal definition of VOC because
of their negligible contribution to the formation of tropospheric
ozone.

DATES: Comments must be received on or before December 26, 2013.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-R05-
OAR-2013-0501, by one of the following methods:
    1. www.regulations.gov: Follow the on-line instructions for
submitting comments.
    2. Email<EMAIL_ADDRESS>    3. Fax:<PHONE_NUMBER>.
    4. Mail: Pamela Blakley, Chief, Control Strategies Section, Air
Programs Branch (AR-18J), U.S. Environmental Protection Agency, 77 West
Jackson Boulevard, Chicago, Illinois 60604.
    5. Hand Delivery: Pamela Blakley, Chief, Control Strategies
Section, Air Programs Branch (AR-18J), U.S. Environmental Protection
Agency, 77 West Jackson Boulevard, Chicago, Illinois 60604. Such
deliveries are only accepted during the Regional Office normal hours of
operation, and special arrangements should be made for deliveries of
boxed information. The Regional Office official hours of business are
Monday through Friday, 8:30 a.m. to 4:30 p.m., excluding Federal
holidays.
    Please see the direct final rule which is located in the Rules
section of this Federal Register for detailed instructions on how to
submit comments.

FOR FURTHER INFORMATION CONTACT: Charles Hatten, Environmental
Engineer, Control Strategies Section, Air Programs Branch (AR-18J),
Environmental Protection Agency, Region 5, 77 West Jackson Boulevard,
Chicago, Illinois 60604,<PHONE_NUMBER><EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: In the Final Rules section of this issue of
the 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 adverse comments. A
detailed rationale for the approval is set forth in the direct final
rule. If no adverse comments are received in response to this rule, no
further activity is contemplated. If EPA receives adverse comments, the
direct final rule will be withdrawn and all public comments received
will be addressed in a subsequent final rule based on this proposed
rule. EPA will not institute a second comment period. Any parties
interested in commenting on this action should do so at this time.
Please note that if EPA receives adverse comment on an amendment,
paragraph, or section of this rule, and if that provision may be
severed from the remainder of the rule, EPA may adopt as final those
provisions of the rule that are not the subject of an adverse comment.
For additional information, see the direct final rule which is located
in the Rules section of this issue of the Federal Register.

    Dated: October 17, 2013.
Susan Hedman,
Regional Administrator, Region 5.
[FR Doc. 2013-27705 Filed 11-25-13; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 87, Number 129 (Thursday, July 7, 2022)]
[Notices]
[Pages 40526-40527]
[FR Doc No: 2022-14497]

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

ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OLEM-2018-0105, FRL-10000-01-OMS]

Information Collection Request Submitted to OMB for Review and
Approval; Comment Request; Oil Pollution Act Facility Response Plans
(Renewal)

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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

SUMMARY: The Environmental Protection Agency (EPA) has submitted an
information collection request (ICR), Oil Pollution Act Facility
Response Plans (EPA ICR Number 1630.14, OMB Control Number 2050-0135)
to the Office of Management and Budget (OMB) for review and approval in
accordance with the Paperwork Reduction Act. This is a proposed
extension of the ICR, which is currently approved through July 31,
2022. Public comments were previously requested via the Federal
Register on November 10, 2021 during a 60-day comment period. This
notice allows for an additional 30 days for public comments. A fuller
description of the ICR is given below, including its estimated burden
and cost to the public. An agency may not conduct or sponsor and a
person is not required to respond to a collection of information unless
it displays a currently valid OMB control number.

DATES: Additional comments may be submitted on or before August 8,
2022.

ADDRESSES: Submit your comments, referencing Docket ID No. EPA-HQ-OLEM-
2018-0105, to EPA online using www.regulations.gov (our preferred
method) or by mail to: EPA Docket Center, Environmental Protection
Agency, Mail Code 28221T, 1200 Pennsylvania Ave. NW, Washington, DC
20460. EPA's policy is that all comments received will be included in
the public docket without change

including any personal information provided, unless the comment
includes profanity, threats, information claimed to be Proprietary
Business Information (PBI) or other information whose disclosure is
restricted by statute.
    Submit written comments and recommendations to OMB for the proposed
information collection within 30 days of publication of this notice to
www.reginfo.gov/public/do/PRAMain. Find this particular information
collection by selecting ``Currently under 30-day Review--Open for
Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT:  J. Troy Swackhammer, Office of
Emergency Management, Mail Code 5104A, Environmental Protection Agency,
1200 Pennsylvania Ave. NW, Washington, DC 20460; telephone number:
(202) 564-1966; email address: [email protected].

SUPPLEMENTARY INFORMATION: Supporting documents, which explain in
detail the information that the EPA will be collecting, are available
in the public docket for this ICR. The docket can be viewed online at
www.regulations.gov or in person at the EPA Docket Center, WJC West,
Room 3334, 1301 Constitution Ave. NW, Washington, DC. The telephone
number for the Docket Center is<PHONE_NUMBER>. For additional
information about EPA's public docket, visit http://www.epa.gov/dockets.
    Abstract: The authority for EPA's facility response plan (FRP)
requirements is derived from section 311(j)(5) of the Clean Water Act,
as amended by the Oil Pollution Act of 1990. EPA's regulation is
codified at 40 CFR 112.20 and 112.21 and related appendices. The
purpose of an FRP is to help an owner or operator identify the
necessary resources to respond to an oil discharge in a timely manner.
If implemented effectively, the FRP will reduce the impact and severity
of oil discharges and may prevent discharges because of the
identification of risks at the facility. Although the owner or operator
is the primary data user, EPA also uses the data in certain situations
to ensure that facilities comply with the regulation and to help
allocate response resources. State and local governments may use the
data, which are not generally available elsewhere, and can greatly
assist local emergency preparedness planning efforts. The EPA reviews
all submitted FRPs and must approve FRPs for those facilities whose
discharges may cause significant and substantial harm to the
environment to ensure that facilities believed to pose the highest risk
have planned for adequate resources and procedures to respond to oil
discharges (See 40 CFR 112.20(f)(3) for further information about the
criteria for significant and substantial harm.). No information
collected under the FRP rule is expected to be confidential. One of the
criteria necessary for information to be classified as ``proprietary
business information'' (40 CFR 2.208) is that a business must show that
it has previously taken reasonable measures to protect the
confidentiality of the information and that it intends to continue to
take such measures. EPA provides no assurances of confidentiality to
facility owners or operators when they file their FRPs.
    Form Numbers: None.
    Respondents/affected entities: Owners or operators of facilities
required to have Spill Prevention, Control, and Countermeasure (SPCC)
plans under the Oil Pollution Prevention regulation (40 CFR part 112)
and that, because of their location, could reasonably be expected to
cause substantial harm to the environment.
    Respondent's obligation to respond: Mandatory under section
311(j)(5) of the Clean Water Act, as amended by the Oil Pollution Act
of 1990.
    Estimated number of respondents: 16,027 (total).
    Frequency of response: Annual.
    Total estimated burden: 385,784 hours (per year). Burden is defined
at 5 CFR 1320.03(b).
    Total estimated cost: $17,751,436 (per year), includes $25,954
annualized capital or operation and maintenance costs.
    Changes in Estimates: The burden estimate showed an annualized
increase of 1,975 hours over the prior inventory due to the projected
increase in the facility universe for the ICR renewal period. The
capital cost increase reflects printing and travel costs based on the
ICR consultations.

Courtney Kerwin,
Director, Regulatory Support Division.
[FR Doc. 2022-14497 Filed 7-6-22; 8:45 am]
BILLING CODE 6560-50-P