[Federal Register Volume 81, Number 196 (Tuesday, October 11, 2016)]
[Notices]
[Pages 70216-70222]
[FR Doc No: 2016-24421]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79036; File No. SR-IEX-2016-16]

Self-Regulatory Organizations; Investors Exchange LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Adopt
Rules To Implement the Quoting and Trading Provisions of the Tick Size
Pilot Program and To Describe Related Changes to IEX System
Functionality

October 4, 2016.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on October 3, 2016, the Investors Exchange LLC (``IEX'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(the ``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 change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 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

    IEX is filing with the Commission a proposed rule change to adopt
rules under IEX Rule 11.340 to implement the quoting and trading
provisions of the Regulation NMS Plan to Implement a Tick Size Pilot
Program submitted to the Commission pursuant to Rule 608 of Regulation
NMS \4\ under the Act (the ``Plan''),\5\ and to describe changes to IEX
system functionality necessary to implement the Plan. The proposed rule
change is substantially similar to proposed rule changes published by
the Commission for the NASDAQ Stock Market LLC (``Nasdaq'') to adopt
NASDAQ Rule 4770, which also implemented the quoting and trading
provisions of the Plan.\6\ Accordingly, the Exchange has designated
this proposal as a ``non-controversial'' proposed rule change pursuant
to Section 19(b)(3)(A) of the Act \7\ and provided the Commission with
the notice required by Rule 19b-4(f)(6)(iii) under the Act.\8\
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    \4\ 17 CFR 242.608.
    \5\ See Securities and Exchange Act Release No. 74892 (May 6,
2015), 80 FR 27513 (File No. 4-657) (``Tick Plan Approval Order'').
See also Securities and Exchange Act Release No. 76382 (November 6,
2015) (File No. 4-657), 80 FR 70284 (File No. 4-657) (November 13,
2015), which extended the pilot period commencement date from May 6,
2015 to October 3, 2016.
    \6\ See Securities and Exchange Act Release No. 78251 (July 7,
2016); 81 FR 45315 (July 13, 2016.
    \7\ 15 U.S.C. 78s(b)(3)(a).
    \8\ 17 CFR 240.19b-4(f)(6)(iii).
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    The text of the proposed rule change is available at the Exchange's
Web site at www.iextrading.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 statement 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 establish rules to require its members to
comply with the requirements of the Plan, which is designed to study
and assess the impact of increment conventions on the liquidity and
trading of the common stocks of small capitalization companies. The
Exchange proposes changes to its rules for a two-year pilot period that
coincides with the Pilot Period for the Plan, which is currently
scheduled as a two-year pilot to begin on October 3, 2016.

Background

    On August 25, 2014, NYSE Group, Inc., on behalf of BATS Exchange,
Inc., BATS Y-Exchange, Inc., Chicago Stock Exchange, Inc., EDGA
Exchange, Inc., EDGX Exchange, Inc., Financial Industry Regulatory
Authority, Inc. (``FINRA''), NASDAQ OMX BX, Inc., NASDAQ OMX PHLX LLC,
the Nasdaq Stock Market LLC, New York Stock Exchange LLC (``NYSE''),
NYSE MKT LLC, and NYSE Arca, Inc. (collectively ``Participants''),
filed with the Commission, pursuant to Section 11A of the Act \9\ and
Rule 608 of Regulation NMS thereunder, the Plan to Implement a Tick
Size Pilot Program (``Pilot'').\10\ The Participants filed the Plan to
comply with an order issued by the Commission on June 24, 2014 (the
``June 2014 Order'').\11\ The Plan \12\ was published for comment in
the Federal Register on November 7, 2014,\13\ and approved by the
Commission, as modified, on May 6, 2015.\14\ An amendment to the Plan
adding IEX as a Participant became effective on August 5, 2016.\15\
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    \9\ 15 U.S.C. 78k-1
    \10\ See Letter from Brendon J. Weiss, Vice President,
Intercontinental Exchange, Inc., to Secretary, Commission, dated
August 25, 2014.
    \11\ See Securities Exchange Act Release No. 72460 (June 24,
2014), 79 FR 36840 (June 30, 2014).
    \12\ Unless otherwise specified, capitalized terms used in this
rule filing are based on the defined terms of the Plan.
    \13\ See Securities Exchange Act Release No. 72460 (June 24,
2014), 79 FR 36840 (June 30, 2014).
    \14\ See Tick Plan Approval Order, supra note 5. See also
Securities Exchange Act Release No. 77277 (March 3, 2016), 81 FR
12162 (March 8, 2016) (File No. 4-657), which amended the Plan to
add National Stock Exchange, Inc. as a Participant.
    \15\ See Securities Exchange Act Release No. 78703 (August 26,
2016; 81 FR 60397 (September 1, 2016) (File No. 4-631).
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    The Plan is designed to allow the Commission, market participants,
and the public to study and assess the impact of increment conventions
on the

liquidity and trading of the common stocks of small-capitalization
companies. The Commission plans to use the Tick Size Pilot Program to
assess whether wider tick sizes enhance the market quality of Pilot
Securities for the benefit of issuers and investors. Each Participant
is required to comply, and to enforce compliance by its member
organizations, as applicable, with the provisions of the Plan.
    Proposed paragraph (d) of Rule 11.340 describes the changes to
System functionality necessary to implement the Plan. The Exchange
believes that all of the proposed changes are designed to directly
comply with the Plan and to assist the Exchange in meeting its
regulatory obligations thereunder.
    The Plan will include stocks of companies with $3 billion or less
in market capitalization, an average daily trading volume of one
million shares or less, and a volume weighted average price of at least
$2.00 for every trading day. The Plan will consist of a control group
of approximately 1,400 Pilot Securities and three test groups with 400
Pilot Securities in each selected by a stratified sampling.\16\ During
the pilot, Pilot Securities in the control group will be quoted at the
current tick size increment of $0.01 per share and will trade at the
currently permitted increments. Pilot Securities in the first test
group (``Test Group One'') will be quoted in $0.05 minimum increments
but will continue to trade at any price increment that is currently
permitted.\17\ Pilot Securities in the second test group (``Test Group
Two'') will be quoted in $0.05 minimum increments and will trade at
$0.05 minimum increments subject to a midpoint exception, a retail
investor exception, and a negotiated trade exception.\18\ Pilot
Securities in the third test group (``Test Group Three'') will be
subject to the same terms as Test Group Two and also will be subject to
the ``Trade-at'' requirement to prevent price matching by a person not
displaying at a price of a Trading Center's ``Best Protected Bid'' or
``Best Protected Offer,'' unless an enumerated exception applies.\19\
In addition to the exceptions provided under Test Group Two, an
exception for Block Size orders and exceptions that closely resemble
those under Rule 611 of Regulation NMS \20\ will apply to the Trade-at
requirement.
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    \16\ See Section V of the Plan for identification of Pilot
Securities, including criteria for selection and grouping.
    \17\ See Section VI(B) of the Plan. Pilot Securities in Test
Group One will be subject to a midpoint exception and a retail
investor exception.
    \18\ See Section VI(C) of the Plan.
    \19\ See Section VI(D) of the Plan.
    \20\ 17 CFR 242.611.
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    The Plan also contains requirements for the collection and
transmission of data to the Commission and the public. A variety of
data generated during the Plan will be released publicly on an
aggregated basis to assist in analyzing the impact of wider tick sizes
on smaller capitalization stocks.\21\ The Exchange adopted paragraph
(b) of Rule 11.340 to require Members to comply with the data
collection provisions under Appendix B and C of the Plan.\22\
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    \21\ See Section VII of the Plan.
    \22\ See Securities Exchange Act Release No. 78481 (August 4,
2016); 81 FR 52933 (August 10, 2016).
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Member Compliance; Proposed Rules 11.340(a) and (c)

    The Plan requires the Exchange to establish, maintain, and enforce
written policies and procedures that are reasonably designed to comply
with the applicable quoting and trading requirements specified in the
Plan.\23\ Accordingly, the Exchange is proposing new Rule 11.340(a) to
require its Members to comply with the quoting and trading provisions
of the Plan. The proposed Rules are also designed to ensure the
Exchange's compliance with the Plan.
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    \23\ The Exchange was also required by the Plan to develop
appropriate policies and procedures that provide for data collection
and reporting to the Commission of data described in Appendixes B
and C of the Plan. See Securities Exchange Act Release No. 77456
(March 28, 2016), 81 FR 18925 (April 1, 2016) (SR-NASDAQ-2016-43).
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    Proposed paragraph (a)(1) of Rule 11.340 would establish the
following defined terms:
     ``Plan'' means the Tick Size Pilot Plan submitted to the
Commission pursuant to Rule 608(a)(3) of Regulation NMS under the Act.
     ``Pilot Test Groups'' means the three test groups
established under the Plan, consisting of 400 Pilot Securities each,
which satisfy the respective criteria established by the Plan for each
such test group.
     Trade-at Intermarket Sweep Order'' (``TA ISO'') would mean
a limit order for a Pilot Security that meets the following
requirements:
    (i) When routed to a Trading Center, the limit order is identified
as a TA ISO; and
    (ii) Simultaneously with the routing of the limit order identified
as a TA ISO, one or more additional limit orders, as necessary, are
routed to execute against the full size of any protected bid, in the
case of a limit order to sell, or the full displayed size of any
protected offer, in the case of a limit order to buy, for the Pilot
Security with a price that is better than or equal to the limit price
of the limit order identified as a TA ISO Sweep Order. These additional
routed orders also must be marked as TA ISOs or Intermarket Sweep Order
(``ISO).
     Paragraph (a)(1)(E) would provide that all capitalized
terms not otherwise defined in this rule shall have the meanings set
forth in the Plan, Regulation NMS under the Act, or Exchange rules, as
applicable.
    Proposed Paragraph (a)(2) would state that the Exchange is a
Participant in, and subject to the applicable requirements of, the
Plan; proposed Paragraph (a)(3) would require members to establish,
maintain and enforce written policies and procedures that are
reasonably designed to comply with the applicable requirements of the
Plan, which would allow the Exchange to enforce compliance by its
members with the provisions of the Plan, as required pursuant to
Section II(B) of the Plan.
    In addition, Paragraph (a)(4) would provide that Exchange systems
would not display, quote or trade in violation of the applicable
quoting and trading requirements for a Pilot Security specified in the
Plan and this proposed rule, unless such quotation or transaction is
specifically exempted under the Plan. Although not required or
prohibited by the Plan, the Exchange proposes to apply the quoting and
trading requirements during the Pre-Market Hours and Post-Market Hours
trading sessions,\24\ in addition to the Regular Market Hours trading
session.\25\ The Exchange believes that applying the same processes and
requirements in Test Group Pilot Securities will simplify processing of
orders by the Exchange, avoiding market participant confusion that may
be caused by applying only some of the Plan requirements and not others
during the different market sessions.
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    \24\ As used in this proposal, the term ``Market Hours'' means
the period of time beginning at 9:30 a.m. ET and ending at 4:00 p.m.
ET (or such earlier time as may be designated by IEX on a day when
IEX closes early). The term ``Pre- Market Hours'' means the period
of time beginning at 8:00 a.m. ET and ending immediately prior to
the commencement of Market Hours. The term ``Post- Market Hours''
means the period of time beginning immediately after the end of
Market Hours and ending at 5:00 p.m. ET. See Rule 1.160(z), (aa) and
(gg).
    \25\ Regular Trading Hours is defined by the Plan as having the
same meaning as Rule 600(b)(64) of Regulation NMS. See Section I
(cc) of the Plan.
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    The Exchange also proposes to add Rule 11.340(a)(5) to provide for
the treatment of Pilot Securities that drop below a $1.00 value during
the Pilot Period.\26\ The Exchange proposes that if

the price of a Pilot Security drops below $1.00 during regular trading
on any given business day, such Pilot Security would continue to be
subject to the Plan and the requirements described below that
necessitate members to comply with the specific quoting and trading
obligations for each respective Pilot Test Group under the Plan, and
would continue to trade in accordance with the proposed rules below as
if the price of the Pilot Security had not dropped below $1.00.
However, if the Closing Price of a Pilot Security on any given business
day is below $1.00, such Pilot Security would be moved out of its
respective Pilot Test Group into the control group (which consists of
Pilot Securities not placed into a Pilot Test Group), and may then be
quoted and traded at any price increment that is currently permitted by
Exchange rules for the remainder of the Pilot Period. Notwithstanding
anything contained herein to the contrary, the Exchange proposes that,
at all times during the Pilot Period, Pilot Securities (whether in the
control group or any Pilot Test Group) would continue to be subject to
the data collection rules, which are enumerated in Rule 11.340(b).
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    \26\ NYSE, on behalf of the Participants, submitted a letter to
Commission requesting exemption from certain provisions of the Plan
related to quoting and trading. See letter from Elizabeth K. King,
NYSE, to Brent J. Fields, Secretary, Commission, dated October 14,
2015 (the ``October Exemption Request''). FINRA, also on behalf of
the Plan Participants, submitted a separate letter to Commission
requesting additional exemptions from certain provisions of the Plan
related to quoting and trading. See letter from Marcia E. Asquith,
Senior Vice President and Corporate Secretary, FINRA, to Robert W.
Errett, Deputy Secretary, Commission, dated February 23, 2016 (the
``February Exemption Request,'' and together with the October
Exemption Request, the ``Exemption Request Letters''). The
Commission, pursuant to its authority under Rule 608(e) of
Regulation NMS, granted New York Stock Exchange LLC a limited
exemption from the requirement to comply with certain provisions of
the Plan as specified in the Exemption Request Letters and noted
herein. See letter from David Shillman, Associate Director, Division
of Trading and Markets, Commission to Sherry Sandler, Associate
General Counsel, New York Stock Exchange LLC, dated April 25, 2016
(the ``Exemption Letter''). The Exchange is seeking the same
exemptions as requested in the Exemption Request Letters, including
without limitation, an exemption relating to proposed Rule
11.340(a)(5).
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    The Exchange proposes Rules 11.340(c)(1)-(3), which would require
members to comply with the specific quoting and trading obligations for
each Pilot Test Group under the Plan. With regard to Pilot Securities
in Test Group One, proposed Rule 11.340(c)(1) would provide that no
member may display, rank, or accept from any person any displayable or
non-displayable bids or offers, orders, or indications of interest in
increments other than $0.05. However, orders priced to trade at the
midpoint of the National Best Bid and National Best Offer (``NBBO'') or
Best Protected Bid and Best Protected Offer (``PBBO'') and orders
entered in a Participant-operated retail liquidity program \27\ may be
ranked and accepted in increments of less than $0.05. Pilot Securities
in Test Group One may continue to trade at any price increment that is
currently permitted by Rule 11.210.\28\
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    \27\ The Exchange notes that it does not operate a retail
liquidity program, but has included references to retail liquidity
programs operated by other Participants in its rules for the sake of
consistency with the Plan.
    \28\ Rule 11.210 specifies the minimum price variant, or
increment, applicable to securities traded on the Exchange.
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    With regard to Pilot Securities in Test Group Two, proposed Rule
11.340(c)(2)(A) would provide that such Pilot Securities would be
subject to all of the same quoting requirements as described above for
Pilot Securities in Test Group One, along with the applicable quoting
exceptions. In addition, proposed Rule 11.340(c)(2)(B) would provide
that, absent one of the listed exceptions in proposed 11.340(c)(2)(C)
enumerated below, no member may execute orders in any Pilot Security in
Test Group Two in price increments other than $0.05. The $0.05 trading
increment would apply to all trades, including Brokered Cross Trades.
    Paragraph (2)(C) would set forth further requirements for Pilot
Securities in Test Group Two. Specifically, members trading Pilot
Securities in Test Group Two would be allowed to trade in increments
less than $0.05 under the following circumstances:
    (i) Trading may occur at the midpoint between the NBBO or PBBO;
    (ii) Retail Investor Orders may be provided with price improvement
that is at least $0.005 better than the PBBO.
    (iii) Negotiated Trades may trade in increments less than $0.05;
and
    (iv) Execution of a customer order to comply with Rule 10.160 \29\
following the execution of a proprietary trade by the Member at an
increment other than $0.05, where such proprietary trade was
permissible pursuant to an exception under the Plan.\30\
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    \29\ Rule 10.160 is the Exchange's Prohibition Against Trading
Ahead of Customer Orders rule, which is substantially identical to
FINRA Rule 5320.
    \30\ The Exchange proposes to add this exemption to permit
members to fill a customer order in a Pilot Security at a non-nickel
increment to comply with Rule 10.160 under limited circumstances.
Specifically, the exception would allow the execution of a customer
order following a proprietary trade by the member at an increment
other than $0.05 in the same security, on the same side and at the
same price as (or within the prescribed amount of) a customer order
owed a fill pursuant to Rule 10.160, where the triggering
proprietary trade was permissible pursuant to an exception under the
Plan. The Commission granted NYSE an exemption from Rule 608(c)
related to this provision. See Exemption Letter, supra note 26. The
Exchange is seeking the same exemptions as requested in the
Exemption Request Letters. The Exchange believes such an exception
best facilitates the ability of members to continue to protect
customer orders while retaining the flexibility to engage in
proprietary trades that comply with an exception to the Plan.
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    Paragraph (3)(A)-(3)(C) would set forth the requirements for Pilot
Securities in Test Group Three. Members quoting or trading such Pilot
Securities would be subject to all of the same quoting and trading
requirements as described above for Pilot Securities in Test Group Two,
including the quoting and trading exceptions applicable to Pilot
Securities in Test Group Two. In addition, proposed Paragraph (3)(D)
would provide for an additional prohibition on Pilot Securities in Test
Group Three referred to as the ``Trade-at Prohibition.'' \31\ Paragraph
(3)(D)(ii) would provide that, absent one of the listed exceptions in
proposed Rule 11.340(c)(3)(D)(iii) enumerated below, no member may
execute a sell order for a Pilot Security in Test Group Three at the
price of a Protected Bid or execute a buy order for a Pilot Security in
Test Group Three at the price of a Protected Offer.
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    \31\ Proposed 11.340(c)(3)(D)(i) would define the ``Trade-at
Prohibition'' to mean the prohibition against executions by a
Trading Center of a sell order for a Pilot Security at the price of
a Protected Bid or the execution of a buy order for a Pilot Security
at the price of a Protected Offer during regular trading hours.
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    Proposed Rule 11.340(c)(3)(D)(iii) would allow members to execute a
sell order for a Pilot Security in Test Group Three at the price of a
Protected Bid or execute a buy order for a Pilot Security in Test Group
Three at the price of a Protected Offer if any of the following
circumstances exist:
    a. The order is executed as agent or riskless principal by an
independent trading unit, as defined under Rule 200(f) of Regulation
SHO,\32\ of a Trading Center within a Member that has a displayed
quotation as agent or riskless principal, via either a processor or an
SRO Quotation Feed, at a price equal to

the traded-at Protected Quotation, that was displayed before the order
was received,\33\ but only up to the full displayed size of that
independent trading unit's previously displayed quote; \34\
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    \32\ The Exchange is proposing that, for proposed Rules 11.340
(c)(3)(D)(iii)a. and b., a Trading Center operated by a broker-
dealer would mean an independent trading unit, as defined under Rule
200(f) of Regulation SHO, within such broker-dealer. See 17 CFR
242.200.
     Independent trading unit aggregation is available if traders in
an aggregation unit pursue only the particular trading objective(s)
or strategy(s) of that aggregation unit and do not coordinate that
strategy with any other aggregation unit. Therefore, a Trading
Center cannot rely on quotations displayed by that broker dealer
from a different independent trading unit. As an example, an agency
desk of a broker-dealer cannot rely on the quotation of a
proprietary desk in a separate independent trading unit at that same
broker-dealer.
    \33\ The Exchange is proposing to adopt this limitation to
ensure that a Trading Center does not display a quotation after the
time of order receipt solely for the purpose of trading at the price
of a protected quotation without routing to that protected
quotation.
    \34\ This proposed exception to Trade-at would allow a Trading
Center to execute an order at the Protected Quotation in the same
capacity in which it has displayed a quotation at a price equal to
the Protected Quotation and up to the displayed size of such
displayed quotation.
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    b. The order is executed by an independent trading unit, as defined
under Rule 200(f) of Regulation SHO, of a Trading Center within a
Member that has a displayed quotation for the account of that Trading
Center on a principal (excluding riskless principal) \35\ basis, via
either a processor or an SRO Quotation Feed, at a price equal to the
traded-at Protected Quotation, that was displayed before the order was
received, but only up to the full displayed size of that independent
unit's previously displayed quote; \36\
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    \35\ As described above, proposed Rule 11.340(c)(3)(D)(iii)a.
would establish the circumstances in which a Trading Center
displaying an order as riskless principal would be permitted to
Trade-at the Protected Quotation. Accordingly, the Exchange proposes
that proposed Rule 11.340(c)(3)(D)(iii)b. would exclude such
circumstances.
    \36\ The display exceptions to Trade-at set forth in proposed
Rules 11.340 (c)(3)(D)(iii)a. and b. would not permit a broker-
dealer to trade on the basis of interest it is not responsible for
displaying. In particular, a broker-dealer that matches orders in
the over-the-counter market shall be deemed to have ``executed''
such orders as a Trading Center for purposes of proposed Rule
11.340. Accordingly, if a broker-dealer is not displaying a
quotation at a price equal to the Protected Quotation, it could not
submit matched trades to an alternative trading center (``ATS'')
that was displaying on an agency basis the quotation of another ATS
subscriber. However, a broker-dealer that is displaying, as
principal, via either a processor or an SRO Quotation Feed, a buy
order at the protected bid, could internalize a customer sell order
up to its displayed size. The display exceptions would not permit a
non-displayed Trading Center to submit matched trades to an ATS that
was displaying on an agency basis the quotation of another ATS
subscriber and confirmed that a broker-dealer would not be permitted
to trade on the basis of interest that it is not responsible for
displaying.
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    c. The order is of Block Size \37\ at the time of origin and may
not be:
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    \37\ ``Block Size'' is defined in the Plan as an order (1) of at
least 5,000 shares or (2) for a quantity of stock having a market
value of at least $100,000.
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    A. an aggregation of non-block orders; or
    B. broken into orders smaller than Block Size prior to submitting
the order to a Trading Center for execution;
    d. The order is a Retail Investor Order executed with at least
$0.005 price improvement;
    e. The order is executed when the Trading Center displaying the
Protected Quotation that was traded at was experiencing a failure,
material delay, or malfunction of its systems or equipment;
    f. The order is executed as part of a transaction that was not a
``regular way'' contract;
    g. The order is executed as part of a single-priced opening,
reopening, or closing transaction on the Exchange;
    h. The order is executed when a Protected Bid was priced higher
than a Protected Offer in the Pilot Security in Test Group Three;
    i. The order is identified as a TA ISO;
    j. The order is executed by a Trading Center that simultaneously
routed TA ISO or ISOs to execute against the full displayed size of the
Protected Quotation that was traded at: \38\
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    \38\ In connection with the definition of a Trade-at ISO
proposed in Rule 11.340 (a)(1)(D), this exception refers to the
Trading Center that routed the ISO.
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    k. The order is executed as part of a Negotiated Trade;
    l. The order is executed when the Trading Center displaying the
Protected Quotation that was traded at had displayed, within one second
prior to execution of the transaction that constituted the Trade-at, a
Best Protected Bid or Best Protected Offer, as applicable, for the
Pilot Security in Test Group Three with a price that was inferior to
the price of the Trade-at transaction;
    m. The order is executed by a Trading Center which, at the time of
order receipt, the Trading Center had guaranteed an execution at no
worse than a specified price (a ``stopped order''), where:
    A. The stopped order was for the account of a customer;
    B. The customer agrees to the specified price on an order-by-order
basis; and
    C. The price of the Trade-at transaction was, for a stopped buy
order, equal to or less than the National Best Bid in the Pilot
Security in Test Group Three at the time of execution or, for a stopped
sell order, equal to or greater than the National Best Offer in the
Pilot Security in Test Group Three at the time of execution, as long as
such order is priced at an acceptable increment; \39\
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    \39\ The stopped order exemption in Rule 611 of Regulation NMS
applies where ``[t]he price of the trade-through transaction was,
for a stopped buy order, lower than the national best bid in the NMS
stock at the time of execution or, for a stopped sell order, higher
than the national best offer in the NMS stock at the time of
execution'' (see 17 CFR 242.611(b)(9)). The Trade-at stopped order
exception applies where ``the price of the Trade-at transaction was,
for a stopped buy order, equal to the national best bid in the Pilot
Security at the time of execution or, for a stopped sell order,
equal to the national best offer in the Pilot Security at the time
of execution'' (see Plan, Section VI(D)(12)).
    To illustrate the application of the stopped order exemption as
it currently operates under Rule 611 of Regulation NMS and as it is
currently proposed for Trade-at, assume the National Best Bid is
$10.00 and another protected quote is at $9.95. Under Rule 611 of
Regulation NMS, a stopped order to buy can be filled at $9.95 and
the firm does not have to send an ISO to access the protected quote
at $10.00 since the price of the stopped order must be lower than
the National Best Bid. For the stopped order to also be executed at
$9.95 and satisfy the Trade-at requirements, the Trade-at exception
would have to be revised to allow an order to execute at the price
of a protected quote which, in this case, could be $9.95.
    Based on the fact that a stopped order would be treated
differently under the Rule 611 of Regulation NMS exception than
under the Trade-at exception in the Plan, the Exchange believes that
it is appropriate to amend the Trade-at stopped order exception in
the Plan to ensure that the application of this exception would
produce a consistent result under both Regulation NMS and the Plan.
Therefore, the Exchange proposes in this proposed Rule
11.340(c)(3)(D)(iii)m. to allow a transaction to satisfy the Trade-
at requirement if the stopped order price, for a stopped buy order,
is equal to or less than the National Best Bid, and for a stopped
sell order, is equal to or greater than the National Best Offer, as
long as such order is priced at an acceptable increment. The
Commission granted NYSE an exemption from Rule 608(c) related to
this provision. See Exemption Letter, supra note 26. The Exchange is
seeking the same exemptions as requested in the Exemption Request
Letters.
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    n. The order is for a fractional share of a Pilot Security in Test
Group Three, provided that such fractional share order was not the
result of breaking an order for one or more whole shares of a Pilot
Security in Test Group Three into orders for fractional shares or was
not otherwise effected to evade the requirements of the Trade-at
Prohibition or any other provisions of the Plan; or
    o. The order is to correct a bona fide error, which is recorded by
the Trading Center in its error account.\40\ A bona fide error is
defined as:
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    \40\ The exceptions to the Trade-at requirement set forth in the
Plan and in the Exchange's proposed Rule 11.340(c)(3)(D)(iii) are,
in part, based on the exceptions to the trade-through requirement
set forth in Rule 611 of Regulation NMS, including exceptions for an
order that is executed as part of a transaction that was not a
``regular way'' contract, and an order that is executed as part of a
single- priced opening, reopening, or closing transaction by the
Trading Center (see 17 CFR 242.611(b)(2) and (b)(3)). Following the
adoption of Rule 611 of Regulation NMS and its exceptions, the
Commission issued exemptive relief that created exceptions from Rule
611 of Regulation NMS for certain error correction transactions. See
Securities Exchange Act Release No. 55884 (June 8, 2007), 72 FR
32926 (June 14, 2007); Securities Exchange Act Release No. 55883
(June 8, 2007), 72 FR 32927 (June 14, 2007). The Exchange has
determined that it is appropriate to incorporate this additional
exception to the Trade-at Prohibition, as this exception is equally
applicable in the Trade-at context.
    Accordingly, the Exchange is proposing to exempt certain
transactions to correct bona fide errors in the execution of
customer orders from the Trade-at Prohibition, subject to the
conditions set forth by the SEC's order exempting these transactions
from Rule 611 of Regulation NMS. The Commission granted New York
Stock Exchange LLC an exemption from Rule 608(c) related to this
provision. See Exemption Letter, supra note 26. The Exchange is
seeking the same exemptions as requested in the Exemption Request
Letters.
    As with the corresponding exception under Rule 611 of Regulation
NMS, the bona fide error would have to be evidenced by objective
facts and circumstances, the Trading Center would have to maintain
documentation of such facts and circumstances and record the
transaction in its error account. To avail itself of the exemption,
the Trading Center would have to establish, maintain, and enforce
written policies and procedures reasonably designed to address the
occurrence of errors and, in the event of an error, the use and
terms of a transaction to correct the error in compliance with this
exemption. Finally, the Trading Center would have to regularly
surveil to ascertain the effectiveness of its policies and
procedures to address errors and transactions to correct errors and
take prompt action to remedy deficiencies in such policies and
procedures. See Securities Exchange Act Release No. 55884 (June 8,
2007), 72 FR 32926 (June 14, 2007).

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    A. The inaccurate conveyance or execution of any term of an order
including, but not limited to, price, number of shares or other unit of
trading; identification of the security; identification of the account
for which securities are purchased or sold; lost or otherwise misplaced
order tickets; short sales that were instead sold long or vice versa;
or the execution of an order on the wrong side of a market:
    B. The unauthorized or unintended purchase, sale, or allocation of
securities, or the failure to follow specific client instructions;
    C. The incorrect entry of data into relevant systems, including
reliance on incorrect cash positions, withdrawals, or securities
positions reflected in an account; or
    D. A delay, outage, or failure of a communication system used to
transmit market data prices or to facilitate the delivery or execution
of an order.
    Finally, Proposed Rule 11.340 (c)(3)(D)(iv) would prevent members
from breaking an order into smaller orders or otherwise effecting or
executing an order to evade the requirements of the Trade-at
Prohibition or any other provisions of the Plan.

Exchange Handling of Orders During the Pilot Period for the Plan

    Proposed paragraph (d) of Rule 11.340 would set forth the
Exchange's specific procedures for handling, executing, repricing and
displaying certain orders and modifiers applicable to Pilot Securities.
Unless otherwise indicated, paragraph (d) of Rule 11.340 would apply to
orders in all three Test Group Pilot Securities, but not to Pilot
Securities included in the Control Group.
    The Exchange is proposing to adopt new Rule 11.340(d)(1) to make it
clear that it will not accept an order in a Test Group Pilot Security
that is not entered in the Pilot's minimum increment of $0.05, applied
to all orders that require a price and do not otherwise qualify for an
exemption to the $0.05 minimum price increment required by the Plan.
The provision will also clarify that IEX will use the $0.05 minimum
price increment when the System reprices an order, including when it
rounds a derived price up or down.

Trade-at Intermarket Sweep Orders

    The Exchange proposes to adopt paragraph (d)(2) to Rule 11.340 to
specify that it will accept TA ISOs in all securities, and that TA ISOs
must be designated as IOC, may not be Minimum Quantity Orders and do
not route. If a TA ISO is entered in a security that is not in Test
Group Three, it will be treated as an ISO in accordance with Rule
11.190(b)(12). The Exchange believes that accepting TA ISOs in all
securities will reduce complexity for Members.

Order Price Collars and Restraints

    In order to facilitate compliance with the Plan, paragraph (d)(3)
of Rule 11.340 would provide that Order Price Collars and Restraints,
as specified in Rule 11.190(f), that are not in the permissible trading
price increment for the security will be rounded down (in the case of
an order to buy) or up (in the case of an order to sell) to the nearest
price in the permissible trading price increment for that security. The
Exchange believes that rounding, as described, will facilitate its
compliance with the requirements of the Plan.

Retail Liquidity Programs

    As proposed, paragraph (d)(4) specifies that the Exchange does not
operate a retail liquidity program, but that if IEX receives an order
from a Member that is identified as a Retail Investor Order or a retail
liquidity providing order, IEX will accept such order if it is in a
permissible increment, but will disregard identification as a Retail
Investor Order or a retail liquidity providing order.

Test Group Three Securities

    As proposed, subparagraph (d)(5) of Rule 11.340 describes how the
Exchange will handle certain types of orders in Pilot Securities in
Test Group Three to avoid possible execution on the Exchange of a non-
displayed order at the price of a Protected Quote in a Test Group Three
Pilot Security unless the incoming order otherwise qualifies for an
exception to the Trade-at prohibition.
    Currently, pursuant to Rule 11.230(a)(4), an incoming or active
order to sell (buy) may trade with non-displayed orders to buy (sell)
at the price of protected bids (offers) without routing to such
protected bids (offers). Subparagraph (d)(5)(A) provides that an
incoming or active order to sell (buy) will trade with displayed orders
to buy (sell) and route, if consistent with the terms of the order, to
protected bids (offers) before trading with non-displayed orders at the
same price. After trading or routing, or both, any remaining balance of
an incoming order will trade with any non-displayed orders at the same
price, so long as the incoming order has satisfied all same price
Protected Quotations or an exception applies. This provision thus
enables the Exchange to comply with the Trade-at restriction of the
Plan by providing for satisfaction of Protected Quotations before
executing non-displayed orders at the same price.
    Similarly, subparagraph (d)(5)(B) of Rule 11.340 specifies that an
ISO to buy (sell) will not trade with non-displayed interest to sell
(buy) that is the same price as the protected offer (bid) unless the
limit price of such ISO is higher (lower) than the price of the
protected offer (bid), or another exception applies. This would be
permitted under the Trade-at Prohibition because to enter an ISO to buy
(sell) at a price higher (lower) than the protected offer (protected
bid), the entering firm would have been required to simultaneously
route limit orders to execute against the full size of the protected
offer (protected bid).
    Rule 11.340(5)(C) specifies how the Exchange will handle certain
non-displayed orders to assure that such orders would not trade at the
price of a Protected Quotation. A non-displayed order is an order that
is not displayed on the Exchange, and may be a market order, limit
order or pegged order. Pegged orders must be non-displayed. Reserve
Orders are orders with a displayed and non-displayed portion.
    Currently, a non-displayed order is eligible to trade with a
resting order on the Order Book on entry or to post to the Order Book
and trade with an incoming order, depending on market conditions and
the terms of each such order.\41\ Non-displayed orders (except for
Discretionary Peg Orders and Primary Peg Orders), including the non-
displayed portion of a Reserve Order, may post and rest on the Order
Book at a price that locks contra-side liquidity at

the Midpoint Price, and may execute against an incoming order at such
price if the resting order's conditions are met. For example, if the
NBBO is locked at $10.10 and a midpoint peg buy order is resting at
$10.10 it will trade with an incoming sell order at $10.10.
---------------------------------------------------------------------------

    \41\ See Rule 11.230 generally.
---------------------------------------------------------------------------

    Accordingly, to prevent non-displayed resting buy (sell) orders
from executing at the price of a Protected Offer (Bid), subparagraph
(d)(5)(C) provides that, if after being posted to the Order Book, the
NBBO or PBBO changes so that such a non-displayed order will no longer
be executable at its posted price due to the requirements of Regulation
NMS or the Plan, as applicable, the non-displayed order will be
repriced consistent with subparagraph (d)(5)(C) and IEX Rule 11.190(h).
    The provisions of subparagraphs (d)(5)(C)(i) and (ii) describe the
manner in which nondisplayed orders will function when the order's
booked price is locked or crossed by the PBBO. These provisions change
the manner in which nondisplayed limit and midpoint peg orders
function. For Discretionary Peg orders and primary peg orders, the
provision modifies existing functionality whereby such orders are
subject to repricing with reference to the NBBO so that in Test Group
Three, such orders will reprice with reference to the PBBO as well.
    Specifically, subparagraph (d)(5)(C)(i) provides that a non-
displayed resting buy (sell) order (including the non-displayed portion
of a reserve order) will not execute at the price of a Protected Bid
(Offer) on an away trading center unless the incoming order qualifies
for an exception to the Trade-at Prohibition.
    Subparagraph (d)(5)(c)(ii) provides that a non-displayable order
(including the non-displayed portion of a reserve order) that, at the
time of entry, could not be executed at its full limit price, adjusted
by applicable peg instructions, if any, market conditions and all
applicable rules and regulations, will be repriced and ranked by the
System on the Order Book non-displayed pursuant to the Midpoint Price
Constraint at the current Midpoint Price (``Permitted Non-Displayed
Group 3 Book Price''). In situations where the resulting price for a
buy (sell) order is equal to the lowest Protected Offer (highest
Protected Bid), the Permitted Non-Displayed Group 3 Book Price will be
equal to one (1) MPV below (above) the lowest Protected Offer (highest
Protected Bid). Non-displayed orders (including non-displayed portions
of reserve orders) resting on the Order Book whose booked price becomes
locked or crossed by the PBBO will be re-priced by the System at a
Permitted Non-Displayed Group 3 Book Price. To reflect increases
(declines) in the lowest Protected Offer (highest Protected Bid), the
System will continue to re-price a resting non-displayed buy (sell)
order to be equal to the higher (lower) of the order's limit price or a
Permitted Non-Displayed Group 3 Book Price.

Block Size Orders

    Finally, the Exchange proposes to specify how it will implement the
Block Size exception to the Trade-at prohibition. Specifically,
pursuant to subparagraph (d)(5)(D) of Rule 11.340, the Exchange will
utilize the Block Size exception under the following circumstances: If
a non-routable order is of at least Block Size and the resulting
execution upon entry against the Order Book is for at least Block Size,
or a routable order of at least Block Size is sent to the Order Book
and the resulting execution upon entry is for at least Block Size.
2. Statutory Basis
    IEX believes that the proposed rule change is consistent with the
provisions of Section 6 of the Act,\42\ in general and furthers the
objectives of Sections 6(b)(5) of the Act \43\ in particular, in that
it is designed 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.
The Exchange believes that the proposed rule change is consistent with
the Act because it is designed to ensure that the Exchange and its
members would be in compliance with a Plan approved by the Commission
pursuant to an order issued by the Commission in reliance on Section
11A of the Act,\44\ and also because it allows the Exchange to make
changes to its handling of orders and modifiers necessary to implement
the requirements of the Plan on its System. Such approved Plan gives
the Exchange authority to establish, maintain, and enforce written
policies and procedures that are reasonably designed to comply with
applicable quoting and trading requirements specified in the Plan. The
Exchange believes that the proposed rule change is consistent with the
authority granted to it by the Plan to establish specifications and
procedures for the implementation and operation of the Plan that are
consistent with the provisions of the Plan. Likewise, the Exchange
believes that the proposed rule change provides interpretations of the
Plan that are consistent with the Act, in general, and furthers the
objectives of the Act, in particular.
---------------------------------------------------------------------------

    \42\ 15 U.S.C. 78f(b).
    \43\ 15 U.S.C. 78f(b)(5).
    \44\ 15 U.S.C. 78k-1.
---------------------------------------------------------------------------

    Furthermore, the Exchange is a Participant under the Plan and
subject, itself, to the provisions of the Plan. The proposed rule
change ensures that the Exchange's systems would not display or execute
trading interests outside the requirements specified in such Plan. The
proposal would also help allow market participants to continue to trade
NMS Stocks within quoting and trading requirements that are in
compliance with the Plan, with certainty on how certain orders and
trading interests would be treated. This, in turn, will help encourage
market participants to continue to provide liquidity in the
marketplace.

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

    IEX 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. The Exchange notes that the
proposed rule change implements the provisions of the Plan, and is
designed to assist the Exchange in meeting its regulatory obligations
pursuant to the Plan. The proposed changes are being made to establish,
maintain, and enforce written policies and procedures that are
reasonably designed to comply with the trading and quoting requirements
specified in the Plan, of which other equities exchanges are also
Participants. Other competing national securities exchanges are subject
to the same trading and quoting requirements specified in the Plan, and
must take the same steps that the Exchange has to conform its existing
rules to the requirements of the Plan. Therefore, the proposed changes
would not impose any burden on competition, while providing certainty
of treatment and execution of trading interests on the Exchange to
market participants in NMS Stocks that are acting in compliance with
the requirements specified in the Plan.

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

    Written comments were neither solicited nor received.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \45\ and Rule 19b-
4(f)(6) thereunder.\46\
---------------------------------------------------------------------------

    \45\ 15 U.S.C. 78s(b)(3)(A).
    \46\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.
    The Exchange has requested that the SEC waive the 30-day operative
period. The Commission believes that waiving the 30-day operative delay
is consistent with the protection of investors and the public interest
because it will allow the Exchange to implement the proposed rules
immediately thereby preventing delays in the implementation of the
Plan. The Commission notes that the Plan is scheduled to start on
October 3, 2016. Therefore, the Commission hereby waives the 30-day
operative delay and designates the proposed rule change to be operative
upon filing with the Commission.\47\
---------------------------------------------------------------------------

    \47\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

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- IEX-2016-16 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-IEX-2016-16. 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-IEX-2016-16, and should be
submitted on or before November 1, 2016.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\48\
---------------------------------------------------------------------------

    \48\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-24421 Filed 10-7-16; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 77, Number 118 (Tuesday, June 19, 2012)]
[Notices]
[Pages 36527-36528]
[FR Doc No: 2012-14873]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. PR12-29-000]

Enstor Katy Storage and Transportation, L.P.; Notice of Filing

    Take notice that on June 12, 2012, Enstor Katy Storage and
Transportation, L.P. filed to revise its Statement of Operating
Conditions to correct, update, and or remove certain provisions and
other housekeeping changes as more fully described in the filing.
    Any person desiring to participate in this rate filing must file in
accordance with Rules 211 and 214 of the Commission's Rules of Practice
and Procedure (18 CFR 385.211 and 385.214). Protests will be considered
by the Commission in determining the appropriate action to be taken,
but will not serve to make protestants parties to the proceeding. Any
person wishing to become a party must file a notice of intervention or
motion to intervene, as appropriate. Such notices, motions, or protests
must be filed on or before the date as indicated below. Anyone filing
an intervention or protest must serve a copy of that document on the
Applicant. Anyone filing an intervention or protest on or before the
intervention or protest date need not serve motions to intervene or
protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and

interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov. Persons unable to file electronically should submit an
original and 7 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the
``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive email
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please email
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.
    Comment Date: 5:00 p.m. Eastern Time on Monday, June 25, 2012.

    Dated: June 13, 2012.
Kimberly D. Bose,
Secretary.
[FR Doc. 2012-14873 Filed 6-18-12; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 84, Number 31 (Thursday, February 14, 2019)]
[Notices]
[Page 4057]
[FR Doc No: 2019-02335]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 2727-092]

Black Bear Hydro Partners, LLC; Notice of Comment Period
Extension

    On November 21, 2018, the Commission issued a notice setting
January 20, 2019 as the end of the formal period to file comments on
the draft environmental assessment for the Ellsworth Hydroelectric
Project No. 2727. Pursuant to 18 CFR 5.25(d), modified mandatory
prescriptions or terms and conditions must be filed no later than 60
days following the date for filing of comments. Due to the funding
lapse at certain federal agencies between December 22, 2018 and January
25, 2019, the Commission is extending the comment period for the draft
environmental assessment to February 23, 2019 and the date for filing
modified prescriptions, terms, and conditions to April 24, 2019.

    Dated: February 8, 2019.
Kimberly D. Bose,
Secretary.
[FR Doc. 2019-02335 Filed 2-13-19; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register: January 31, 2008 (Volume 73, Number 21)]
[Notices]
[Page 5905]
[DOCID:fr31ja08-121]

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DEPARTMENT OF TRANSPORTATION

National Highway Traffic Safety Administration

Reports, Forms, and Recordkeeping Requirements; Agency
Information Collection Activity Under OMB Review

AGENCY: National Highway Traffic Safety Administration, DOT.

ACTION: Notice.

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SUMMARY: In compliance with the Paperwork Reduction Act of 1995 (44
U.S.C. 3501 et seq.), this notice announces that the Information
Collection Request (ICR) abstracted below has been forwarded to the
Office of Management and Budget (OMB) for review and comment. The ICR
describes the nature of the information collection and the expected
burden. The Federal Register Notice with a 60-day comment period was
published on November 26, 2007 (72 FR 66026-66028).

DATES: Comments must be submitted on or before March 3, 2008.

ADDRESSES: Send comments, within 30 days, to the Office of Information
and Regulatory Affairs, Office of Management and Budget, 725-17th
Street, NW., Washington, DC 20503, Attention NHTSA Desk Officer.

FOR FURTHER INFORMATION CONTACT: John Siegler at the National Highway
Traffic Safety Administration, Office of Research and Technology (NTI-
132),<PHONE_NUMBER>, 1200 New Jersey Ave, SE., W46-474, Washington, DC
20590.

SUPPLEMENTARY INFORMATION:

National Highway Traffic Safety Administration

    Title: Evaluation Surveys for Impaired Driving and Safety Belt
Interventions.
    OMB Number: 2127-0646.
    Type of Request: Revision of the previously approved collection of
information.
    Abstract: The National Highway Traffic Safety Administration
proposes to conduct a series of telephone surveys that will examine the
effectiveness of multiple National and State Click It or Ticket
mobilizations and impaired driving crackdowns designed to curb impaired
driving and/or raise belt use. The National and State telephone surveys
would be conducted during the mid 2008-mid 2011 time period. Since
Congress has authorized NHTSA to spend millions of dollars annually to
conduct National and State mobilizations, NHTSA must account for
whether these initiatives were effective. The National telephone
surveys will be administered to randomly selected samples of 1,600
persons age 18 and older. State surveys will be administered according
to media markets where paid media was purchased and can range from as
few as 400 participants per media market surveyed in a State. An
essential part of this evaluation effort is to compare baseline and
post-intervention measures of attitudes, intervention awareness, and
(relevant) self-reported behavior to determine if the interventions
were associated with changes on those indices.
    Affected Public: Randomly selected members of the general public in
telephone households.
    Estimated Total Annual Burden: 27,467 hours (164,800 interviews
averaging 10 minutes each).
    Comments are invited on: Whether the proposed collection of
information is necessary for the proper performance of the functions of
the Department, including whether the information will have practical
utility; the accuracy of the Department's estimate of the burden of the
proposed information collection; ways to enhance the quality, utility
and clarity of the information to be collected; and ways to minimize
the burden of the collection of information on respondents, including
the use of automated collection techniques or other forms of
information technology. A Comment to OMB is most effective if OMB
receives it within 30 days of publication.

    Authority: 44 U.S.C. 3506(c)(2)(A).

Marilena Amoni,
Associate Administrator, Research and Program Development
[FR Doc. E8-1758 Filed 1-30-08; 8:45 am]

BILLING CODE 4910-59-P


[Federal Register Volume 87, Number 123 (Tuesday, June 28, 2022)]
[Notices]
[Pages 38390-38391]
[FR Doc No: 2022-13756]

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

[EPA-HQ-OAR-2021-0647; FRL-9973-01-OMS]

Information Collection Request Submitted to OMB for Review and
Approval; Comment Request; NSPS for Storage Vessels for Petroleum
Liquids for Which Construction, Reconstruction or Modification
Commenced After June 11, 1973 and Prior to May 19, 1978 (Renewal)

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: The Environmental Protection Agency (EPA) has submitted an
information collection request (ICR), NSPS for Storage Vessels for
Petroleum Liquids for Which Construction, Reconstruction or
Modification Commenced After June 11, 1973 and Prior to May 19, 1978
(EPA ICR Number 1797.09, OMB Control Number 2060-0442), 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 June 30, 2022. Public comments
were previously requested, via the Federal Register, on February 8,
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 neither conduct nor 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 July 28, 2022.

ADDRESSES: Submit your comments, referencing Docket ID Number EPA-HQ-
OAR-2020-0647, online using www.regulations.gov (our preferred method)
or by mail to: EPA Docket Center, Environmental Protection Agency, Mail
Code 2821T, 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 Confidential Business Information (CBI), 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: Muntasir Ali, Sector Policies and
Program Division (D243-05), Office of Air Quality Planning and
Standards, U.S. Environmental Protection Agency, Research Triangle
Park, North Carolina 27711; telephone number:<PHONE_NUMBER>; 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
https://www.regulations.gov, or in person, at the EPA Docket Center,
WJC West Building, 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 New Source Performance Standards (NSPS) for Storage
Vessels for Petroleum Liquids for Which Construction, Reconstruction or
Modification Commenced After June 11, 1973 and Prior to May 19, 1978
(40 CFR part 60, subpart K) apply to existing facilities for which
construction, reconstruction, or modification commenced after June 11,
1973 and prior to May 19, 1978 that store petroleum liquids in storage
vessels with a storage capacity greater than 151,416 liters (40,000
gallons), including: storage vessels with capacity greater than 151,416
liters (40,000 gallons), but not exceeding 246,052 liters (65,000
gallons). In general, all NSPS standards require initial notifications,
performance tests, and periodic reports by the owners/operators of the
affected facilities. They are also required to maintain records of the
occurrence and duration of any startup, shutdown, or malfunction in the
operation of an affected facility, or any period during which the
monitoring system is inoperative. These notifications, reports, and
records are essential in determining compliance and are required of all
affected facilities subject to NSPS.
    Form Numbers: None.
    Respondents/affected entities: Owners and operators of storage
vessels subject to 40 CFR part 60, subpart K.
    Respondent's obligation to respond: Mandatory (40 CFR part 60,
subpart K)
    Estimated number of respondents: 281 (total).
    Frequency of response: Occasionally.
    Total estimated burden: 1,310 hours (per year). Burden is defined
at 5 CFR 1320.3(b).
    Total estimated cost: $154,000 (per year), which includes $0 for
annualized capital/startup and/or operation & maintenance costs.
    Changes in the Estimates: The increase in burden from the most-
recently approved ICR is due to an adjustment. The previously approved
ICRs (1797.08, 1797.07) relied on information from the 2011 Petroleum
Refinery ICR for estimates of facilities with storage tanks subject to
40 CFR part 60, subpart K, which was the best source of information at
that time. However, this ICR updates the number

of facilities based on data from EPA's ECHO database, which tracks a
total of 281 refineries, terminals, and other facilities that report
information under 40 CFR part 60, subpart K. This estimate is a more-
recent estimate of affected sources and is similar to those estimates
conducted in prior ICRs (e.g., 1797.06) and reflects the Agency's best
knowledge of actual subject entities. However, we expect this number
may be lower as facilities that modify tanks initially subject to
subpart K would become subject to other regulations, e.g., 40 CFR part
60, subpart Kb. Finally, there is no change in both capital/startup and
O&M costs compared to the prior ICR renewal.

Courtney Kerwin,
Director, Regulatory Support Division.
[FR Doc. 2022-13756 Filed 6-27-22; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register: February 21, 2008 (Volume 73, Number 35)]
[Notices]
[Page 9559-9561]
[DOCID:fr21fe08-55]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Sunshine Act Meeting Notice

February 14, 2008.
    The following notice of meeting is published pursuant to section
3(a) of the Government in the Sunshine Act (Pub. L. 94-409), 5 U.S.C.
552b:

AGENCY HOLDING MEETING: Federal Energy Regulatory Commission.

DATE AND TIME: February 21, 2008, 10 a.m.

PLACE: Room 2C, 888 First Street, NE., Washington, DC 20426.

STATUS: Open.

MATTERS TO BE CONSIDERED: Agenda
    * Note--Items listed on the agenda may be deleted without further
notice.

CONTACT PERSON FOR MORE INFORMATION: Kimberly D. Bose, Secretary,
Telephone<PHONE_NUMBER>.
    For a recorded message listing items struck from or added to the
meeting, call<PHONE_NUMBER>.
    This is a list of matters to be considered by the Commission. It
does not include a listing of all documents relevant to the items on
the agenda. All public documents, however, may be viewed on line at the
Commission's Web site at http://www.ferc.gov using the eLibrary link,

or may be examined in the Commission's Public Reference Room.

930th--Meeting

                             Regular Meeting
                      [February 21, 2008, 10 a.m.]
------------------------------------------------------------------------
     Item No.          Docket No.                   Company
------------------------------------------------------------------------
                          Administrative Agenda
------------------------------------------------------------------------
A-1..............  AD02-1-000........  Agency Administrative Matters.
A-2..............  AD02-7-000........  Customer Matters, Reliability,
                                        Security and Market Operations.
A-3..............  AD06-3-000........  Energy Market Update.
------------------------------------------------------------------------
                                Electric
------------------------------------------------------------------------
E-1..............  AD07-7-000........  Wholesale Competition in Regions
                   RM07-19-000.......   with Organized Electric Markets.
E-2..............  RM07-15-000.......  Cross-Subsidization Restrictions
                                        on Affiliate Transactions.
E-3..............  RM07-21-000.......  Blanket Authorization Under FPA
                                        Section 203.
E-4..............  PL07-1-001........  FPA Section 203 Supplemental
                                        Policy Statement.
E-5..............  ER91-195-000......  Western Systems Power Pool.
                   EL07-69-000.......  Western Systems Power Pool
                                        Agreement.
E-6..............  ER07-476-000......  ISO New England Inc. and New
                                        England Power Pool.
                   RM06-8-000........  Long-Term Firm Transmission
                                        Rights in Organized Electricity
                                        Markets.
E-7..............  ER07-1372-000.....  Midwest Independent Transmission
                   ER07-1372-001.....   System Operator, Inc.
E-8..............   ER06-278-000.....  The Nevada Hydro Company, Inc.
                   ER06-278-001......
                   ER06-278-002......
                   ER06-278-003......
                   ER06-278-004......
                   ER06-278-005......
                   ER06-278-006......
E-9..............  OMITTED...........
E-10.............  RC08-1-000........  Southeastern Power
                                        Administration.
E-11.............  RC07-3-001........  Lee County, Florida.
                   RC07-5-001........  Solid Waste Authority of Palm
                                        Beach County, Florida.
E-12.............  RM06-16-000.......  Mandatory Reliability Standards
                                        for the Bulk-Power System.
                   RR08-1-000........  North American Electric
                                        Reliability Corporation.
E-13.............  EF07-2021-000.....  United States Department of
                                        Energy--Bonneville Power
                                        Administration.
E-14.............  OMITTED...........
E-15.............  ER02-136-007......  Allegheny Power.
                   ER02-136-008......
E-16.............  ER05-715-002......  ISO New England Inc.
E-17.............  EL02-129-004......  Southern California Water
                                        Company.
E-18.............  EL05-50-003.......  Jersey Central Power & Light
                                        Company v. Atlantic City
                                        Electric Company, Delmarva Power
                                        & Light Company, PECO Energy
                                        Company and Public Service
                                        Electric and Gas Company.
E-19.............  ER05-18-002.......  New Dominion Energy Cooperative.
                   ER05-309-002......  Old Dominion Electric
                                        Cooperative.
E-20.............  ER07-429-001......  New York State Reliability
                                        Council.
E-21.............  ER07-547-002......  ISO New England Inc. and New
                                        England Power Pool.
E-22.............  ER07-799-002......  Norwalk Power, LLC.
                   ER07-799-003......
                   EL07-61-001.......
                   EL07-61-002.......
E-23.............  ER06-1420-002.....  Midwest Independent Transmission
                   ER06-1420-003.....   System Operator, Inc.
E-24.............  ER93-465-039......  Florida Power & Light Company.
                   ER93-465-040......
                   ER96-417-008......
                   ER96-417-009......
                   ER96-1375-009.....
                   ER96-1375-010.....
                   OA96-39-016.......
                   OA96-39-017.......
                   OA97-245-009......
                   OA97-245-010......
E-25.............  EL03-230-003......  ExxonMobil Corporation v. Entergy
                                        Services, Inc.
------------------------------------------------------------------------

                                   Gas
------------------------------------------------------------------------
G-1..............  RP06-231-003......  Norstar Operating, LLC v.
                   RP06-231-004......   Columbia Gas Transmission
                                        Corporation.
                   RP06-365-001......  Columbia Gas Transmission
                                        Corporation.
                   RP06-365-002......
G-2..............  RP07-509-003......  Columbia Gas Transmission
                                        Corporation.
G-3..............  RP07-500-003......  Columbia Gulf Transmission
                                        Company.
G-4..............  RP96-312-176......  Tennessee Gas Pipeline Company.
------------------------------------------------------------------------
                                  Hydro
------------------------------------------------------------------------
H-1..............  P-12447-001.......  Fort Dodge Hydroelectric
                                        Development Company.
H-2..............  P-7115-039........  Homestead Energy Resources, LLC.
H-3..............  P-12911-005.......  The Electric Plant Board of the
                                        City of Paducah, Kentucky.
H-4..............  P-2426-208........  California Department of Water
                                        Resources and the City of Los
                                        Angeles.
H-5..............  P-2225-011........  Public Utility District No. 1 of
                   DI07-1-001........   Pend Oreille County, Washington.
H-6..............  P-1494-328........  Grand River Dam Authority.
------------------------------------------------------------------------
                              Certificates
------------------------------------------------------------------------
C-1..............  CP07-430-000......  Kinder Morgan Interstate Gas
                                        Transmission LLC.
C-2..............  CP04-13-004.......  Saltville Gas Storage Company,
                                        LLC.
C-3..............  OMITTED...........
C-4..............  OMITTED...........
C-5..............  CP08-60-000.......  Arlington Storage Company, LLC.
C-6..............  CP06-459-001......  Transwestern Pipeline Company,
                                        LLC.
                   CP07-9-001........  El Paso Natural Gas Company.
C-7..............  CP07-32-002.......  Gulf South Pipeline Company, LP.
                   CP07-32-003.......
                   CP07-105-001......
                   CP07-110-001......  Destin Pipeline Company, L.L.C.
C-8..............  CP06-407-001......  Missouri Interstate Gas, LLC.
                   CP06-408-001......  Missouri Gas Company, LLC.
                   CP06-409-001......  Missouri Pipeline Company, LLC.
                   RP06-274-001......  Missouri Interstate Gas, LLC.
                   CP06-407-002......
C-9..............  CP06-470-001......  Southern LNG, Inc.
                   CP06-471-002......  Elba Express Company, L.L.C.
                   CP06-472-002......
                   CP06-473-002......
                   CP06-474-002......  Southern Natural Gas Company.
C-10.............  OMITTED...........
C-11.............  OMITTED...........
------------------------------------------------------------------------

Kimberly D. Bose,
Secretary.
    A free webcast of this event is available through http://www.ferc.gov.
 Anyone with Internet access who desires to view this

event can do so by navigating to http://www.ferc.gov's Calendar of

Events and locating this event in the Calendar. The event will contain
a link to its webcast. The Capitol Connection provides technical
support for the free webcasts. It also offers access to this event via
television in the DC area and via phone bridge for a fee. If you have
any questions, visit http://www.CapitolConnection.org or contact

Danelle Springer or David Reininger at<PHONE_NUMBER>.
    Immediately following the conclusion of the Commission Meeting, a
press briefing will be held in the Commission Meeting Room. Members of
the public may view this briefing in the designated overflow room. This
statement is intended to notify the public that the press briefings
that follow Commission meetings may now be viewed remotely at
Commission headquarters, but will not be telecast through the Capitol
Connection service.

 [FR Doc. E8-3287 Filed 2-20-08; 8:45 am]

BILLING CODE 6717-01-P