[Federal Register Volume 79, Number 95 (Friday, May 16, 2014)]
[Notices]
[Pages 28568-28571]
[FR Doc No: 2014-11293]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72150; File No. SR-NASDAQ-2014-049]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Modify NASDAQ Rule 7018 Fees and Establish Fee Tiers for the Execution
of Market-on-Close and Limit-on-Close Orders Executed in the NASDAQ
Closing Cross and Eliminate the High Volume Market Participant
Identifier Program

May 12, 2014.
    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 April 30, 2014, The NASDAQ Stock Market LLC (``NASDAQ'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') a proposed rule change as described in Items I, II and
III below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change

    NASDAQ is proposing to modify NASDAQ Rule 7018 fees assessed for
execution and routing [sic] securities listed on the New York Stock
Exchange (``NYSE'') and on exchanges other than NASDAQ and NYSE, as
well as establishing fee tiers for the execution of Market-on-Close and
Limit-on-Close orders executed in the NASDAQ Closing Cross and
eliminating the high volume Market Participant Identifier program.
    While the changes proposed herein are effective upon filing, the
Exchange has designated that the amendments be operative on May 1,
2014.
    The text of the proposed rule change is available at
nasdaq.cchwallstreet.com at NASDAQ's principal office, and at the
Commission's Public Reference Room.

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

    In its filing with the Commission, NASDAQ 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 those statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant parts of such
statements.

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

1. Purpose
    NASDAQ is proposing to amend NASDAQ Rule 7018 to modify NASDAQ Rule
7018 [sic] fees assessed for execution and routing [sic] securities
listed on NYSE (``Tape A'') and on exchanges other than NASDAQ and the
NYSE (``Tape B''), as well as establishing fee tiers for the execution
of Market-on-Close and Limit-on-Close (``MOC/LOC'') orders executed in
the NASDAQ Closing Cross.
    Specifically, NASDAQ is proposing to offer reduced access fees for
firms that execute against resting midpoint liquidity for both Tape A
and Tape B securities. The standard access fees are currently $0.0030
per executed share, but the Exchange proposes to reduce this fee for
Tape A and Tape B securities to $0.0027 per executed share. The
Exchange believes that the proposed discounted executions for taking

midpoint liquidity will encourage firms that are interested in
accessing more of the NASDAQ's price improving liquidity access [sic]
more resting midpoint liquidity before routing to other destinations.
    Additionally, the Exchange is proposing to establish new fee tiers
for the execution of MOC/LOC orders executed in the NASDAQ Closing
Cross. The new tiers are designed to reasonably raise revenue, benefit
market participants that provide liquidity during market hours and the
opportunity to lower the proposed price changes by executing more
volume via the NASDAQ Closing Cross. The Exchange proposes to begin
offering tiers for the execution of MOC/LOC orders as follows:

 Tier A: Shares of liquidity provided in all securities through
one or more of its Nasdaq Market Center MPIDs that represent above
1.40% of Consolidated Volume or MOC/LOC volume above 0.50% of
Consolidated Volume: $0.00065 per executed share
 Tier B: Shares of liquidity provided in all securities through
one or more of its Nasdaq Market Center MPIDs that represent above
0.80% to 1.40% of Consolidated Volume or MOC/LOC volume above 0.30% to
0.50% of Consolidated Volume: $0.0011 per executed share
 Tier C: Shares of liquidity provided in all securities through
one or more of its Nasdaq Market Center MPIDs that represent above
0.50% to 0.80% of Consolidated Volume or MOC/LOC volume above 0.10% to
0.30% of Consolidated Volume: $0.0012 per executed share
 Tier D: Shares of liquidity provided in all securities through
one or more of its Nasdaq Market Center MPIDs that represent above
0.30% to 0.50% of Consolidated Volume: $0.0013 per executed share
 Tier E: Shares of liquidity provided in all securities through
one or more of its Nasdaq Market Center MPIDs that represent above
0.015% to 0.30% of Consolidated Volume: $0.00135 per executed share
 Tier F: Shares of liquidity provided in all securities through
one or more of its Nasdaq Market Center MPIDs that represent 0.00% to
0.015% of Consolidated Volume: $0.0014 per executed share
 Tier G: Member adds Nasdaq Options Market Customer and/or
Professional liquidity in Penny Pilot Options and/or Non-Penny Pilot
Options of 0.80% or more of national customer volume in multiply-listed
equity and ETF options classes in a month: $0.0010 per executed share.

    The new fee tiers for participation in the closing auctions
essentially replace the high volume Market Participant Identifier
(``High Volume MPID'') program that allowed a member that trades
through a qualified High Volume MPID to pay a discounted fee per share
executed with respect to executions of MOC/LOC orders when the same
High Volume MPID is on both sides of the trade. Since this incentive
program has been in place, the Exchange has observed that the High
Volume MPID program is not widely-used and so it now proposes the new
fee tiers discussed above. The proposed new fee tiers will result in
higher fees for most firms, however, the Exchange is offering liquidity
adding incentives and MOC/LOC incentives to materially reduce the
proposed fees to be assessed for MOC/LOC executions in the NASDAQ
Closing Cross. Finally, if a member qualifies for two tiers, the lower
tier rate will apply.

2. Statutory Basis
    NASDAQ believes that the proposed rule change is consistent with
the provisions of Section 6 of the Act,\3\ in general, and with
Sections 6(b)(4) and 6(b)(5) of the Act,\4\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees and
other charges among members and issuers and other persons using any
facility or system which NASDAQ operates or controls, and is not
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers. This proposal is reasonable, equitable and not
unfairly discriminatory for the reasons noted below.
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    \3\ 15 U.S.C. 78f.
    \4\ 15 U.S.C. 78f(b)(4) and (5).
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    The proposed changes are reflective of NASDAQ's ongoing efforts to
use reduced access fees and better targeted discount [sic] to attract
orders that NASDAQ believes will improve market quality. Generally,
NASDAQ seeks to provide customers with discounts that they deem
helpful, and to eliminate those that they do not. By offering reduced
access fees for firms that execute against resting midpoint liquidity
and by replacing the High Volume MPID program with the new fee tiers
for participation in the closing auction, NASDAQ believes it will be
able to further promote these goals by providing better targeted
incentives for market participants.
    Specifically, the proposed changes are consistent with statutory
requirements. The proposal to reduce access fees for firms that execute
against resting midpoint liquidity from the standard access fee of
$0.0030 per executed share to $0.0027 per executed share for Tape A and
Tape B securities is consistent with a fair allocation of reasonable
fees and not unfairly discriminatory because it is a price cut that
applies uniformly to all NASDAQ members. NASDAQ believes that the fee
reduction will incentivize firms to execute against midpoint liquidity
and this, in turn, will lead to an increase in price improvement
liquidity and price improvement generally benefits the investing
public.
    The impact of the change in adding new tiers for participation in
the NASDAQ Closing Cross will be a price increase for many market
participants, but those that provide greater liquidity during market
hours or increase their usage of the NASDAQ Closing Cross will receive
a greater discount. Generally speaking, the base rate will increase
from $0.0010 to $0.0014 per executed share as discussed more fully
below, but the Exchange is providing various incentives to all market
participants to lower the fees to be assessed for MOC/LOC executions.
    The Exchange's proposal to establish Tier A in which shares of
liquidity provided in all securities through one or more of its Nasdaq
Market Center MPIDs that represent above 1.40% of Consolidated Volume
or MOC/LOC volume above 0.50% of Consolidated Volume will be executed
at $0.00065 per share is equitable and not unfairly discriminatory
because all market participants have the opportunity to achieve this
tier if they choose to increase added [sic] liquidity or MOC/LOC
volume. The fee is reasonable because it represents a price reduction
when compared to the current rate of $0.0010 per executed share and is
approximately the average rate paid by those market participants that
chose to avail themselves of the High Volume MPID discount.
    The Exchange's proposal to establish Tier B in which shares of
liquidity provided in all securities through one or more of its Nasdaq
Market Center MPIDs that represent above 0.80% to 1.40% of Consolidated
Volume or MOC/LOC volume above 0.30% to 0.50% of Consolidated Volume
will be executed at $0.0011 per share is equitable and not unfairly
discriminatory. While this is a price increase, the Exchange is still
providing opportunities for all market participants to reduce the per
share rate by adding additional liquidity or executing a greater number
of MOC/LOC shares.
    The Exchange's proposal to establish Tier C in which shares of
liquidity provided in all securities through one or more of its Nasdaq
Market Center MPIDs

that represent above 0.50% to 0.80% of Consolidated Volume or MOC/LOC
volume above 0.10% to 0.30% of Consolidated Volume will be executed at
$0.0012 per share is equitable and not unfairly discriminatory because
this tier provides additional opportunities for members to reduce the
fees to be paid for MOC/LOC executions.
    The Exchange's proposal to establish Tier D in which shares of
liquidity provided in all securities through one or more of its Nasdaq
Market Center MPIDs that represent above 0.30% to 0.50% of Consolidated
Volume will be executed at $0.0013 per share is equitable and not
unfairly discriminatory because this tier provides additional
opportunities for members to reduce the fees to be paid for MOC/LOC
executions.
    The Exchange's proposal to establish Tier E in which shares of
liquidity provided in all securities through one or more of its Nasdaq
Market Center MPIDs that represent above 0.015% to 0.30% of
Consolidated Volume will be executed at $0.00135 per share is equitable
and not unfairly discriminatory because this tier provides additional
opportunities for members to reduce the fees to be paid for MOC/LOC
executions.
    The Exchange's proposal to establish Tier F in which shares of
liquidity provided in all securities through one or more of its Nasdaq
Market Center MPIDs that represent 0.00% to 0.015% of Consolidated
Volume will be executed at $0.0014 per share is equitable and not
unfairly discriminatory because the Exchange believes this represents
the base rate for utilizing the NASDAQ Closing Cross. The Exchange
spends significant testing and regulatory resources, among other
resources, to ensure that the NASDAQ Closing cross [sic] is the
industry standard. The Exchange believes that this proposed rate
properly reflects that ongoing investment. Further, the Exchange is
offering a variety of incentives that are discussed above and below for
market participants to reduce their costs [sic] adding additional
liquidity or increasing volume in the NASDAQ Closing Cross.
    The Exchange's proposal to establish Tier G in which a member adds
Nasdaq Options Market Customer and/or Professional liquidity in Penny
Pilot Options and/or Non-Penny Pilot Options of 0.80% or more of
national customer volume in multiply-listed equity and ETF options
classes in a month will be executed at $0.0010 per share is equitable
and not unfairly discriminatory because this provides an additional
means for members to reduce their fees assessed for executions in the
NASDAQ Closing Cross. Like the other tiers offered, this tier enhances
market participants' choices to earn price cuts. They can add more
liquidity on the Exchange or its options platform or they can use the
NASDAQ Closing Cross instead of potential off-exchange alternatives.
    Volume-based discounts such as the fees associated with the new
tiers for participation in the Closing Cross proposed here have been
widely adopted in the cash equities markets, and are equitable because
they are open to all members on an equal basis and provide discounts
that are reasonably related to the value to an exchange's market
quality associated with higher levels of market activity, such as
higher levels of liquidity provision and introduction of higher volumes
of orders into the price and volume discovery processes of the Closing
Cross. NASDAQ further notes that it operates in a highly competitive
market in which market participants can readily favor competing venues,
or in this case, internalize orders rather than exposing them to the
broader market, if they deem fee levels at a particular venue to be
excessive. NASDAQ believes that the new fee tiers will help ensure that
its Closing Cross continues to attract high levels of participation.
    Additionally, the elimination of High Volume MPID program is
consistent with a fair allocation of reasonable fees and not unfairly
discriminatory since the removal of the rule language pertaining to the
incentives impacts all firms equally.

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

    NASDAQ does not believe that the proposed rule changes will result
in any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act, as amended.\5\ NASDAQ notes
that it operates in a highly competitive market in which market
participants can readily favor competing venues if they deem fee levels
at a particular venue to be excessive, or rebate opportunities
available at other venues to be more favorable. In such an environment,
NASDAQ must continually adjust its fees to remain competitive with
other exchanges and with alternative trading systems that have been
exempted from compliance with the statutory standards applicable to
exchanges. Because competitors are free to modify their own fees in
response, and because market participants may readily adjust their
order routing practices, NASDAQ believes that the degree to which fee
changes in this market may impose any burden on competition is
extremely limited. In this instance, discounted executions for taking
midpoint liquidity, as well as the replacement of the High Volume MPID
program with the establishment of new fee tiers for the execution of
MOC/LOC orders executed in the NASDAQ Closing Cross reflect this.
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    \5\ 15 U.S.C. 78f(b)(8).
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    Accordingly, NASDAQ does not believe that the proposed changes will
impair the ability of members or competing order execution venues to
maintain their competitive standing in the financial markets.

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

    The foregoing change has become effective pursuant to Section
19(b)(3)(A) of the Act,\6\ and paragraph (f) \7\ of Rule 19b-4,
thereunder. 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.
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    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f).
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NASDAQ-2014-049 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NASDAQ-2014-049. 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 offices 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-NASDAQ-2014-049, and
should be submitted on or before June 6, 2014.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-11293 Filed 5-15-14; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 85, Number 117 (Wednesday, June 17, 2020)]
[Notices]
[Pages 36574-36575]
[FR Doc No: 2020-13033]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 3511-024]

Lower Saranac Hydro, LLC; Notice of Application Tendered for
Filing With the Commission and Soliciting Additional Study Requests and
Establishing Procedural Schedule for Relicensing and a Deadline for
Submission of Final Amendments

    Take notice that the following hydroelectric application has been
filed with the Commission and is available for public inspection.
    a. Type of Application: Subsequent Minor License.
    b. Project No.: 3511-024.
    c. Date filed: May 29, 2020.
    d. Applicant: Lower Saranac Hydro, LLC.
    e. Name of Project: Groveville Hydroelectric Project.
    f. Location: On Fishkill Creek, in the City of Beacon, Dutchess
County, New York. The project does not occupy any federal land.
    g. Filed Pursuant to: Federal Power Act 16 U.S.C. 791(a)-825(r).
    h. Applicant Contact: Ms. Elise Anderson, Senior Environmental
Permitting Specialist, Lower Saranac Hydro, LLC, Enel Green Power North
America, Inc., 100 Brickstone Square, Suite 300, Andover, MA 01810;
Phone:<PHONE_NUMBER> or email at<EMAIL_ADDRESS>    i. FERC Contact: Jeremy Feinberg at<PHONE_NUMBER> or
<EMAIL_ADDRESS>    j. Cooperating agencies: Federal, state, local, and tribal agencies
with jurisdiction and/or special expertise with respect to
environmental issues that wish to cooperate in the preparation of the
environmental document should follow the instructions for filing such
requests described in item l below. Cooperating agencies should note
the Commission's policy that agencies that cooperate in the preparation
of the environmental document cannot also intervene. See, 94 FERC ]
61,076 (2001).
    k. Pursuant to section 4.32(b)(7) of 18 CFR of the Commission's
regulations, if any resource agency, Indian Tribe, or person believes
that an additional scientific study should be conducted in order to
form an adequate factual basis for a complete analysis of the
application on its merit, the resource agency, Indian Tribe, or person
must file a request for a study with the Commission not later than 60
days from the date of filing of the application, and serve a copy of
the request on the applicant.
    l. Deadline for filing additional study requests and requests for
cooperating agency status: July 28, 2020.
    The Commission strongly encourages electronic filing. Please file
additional study requests and requests for cooperating agency status
using the Commission's eFiling system at http://www.ferc.gov/docs-filing/efiling.asp. For assistance, please contact FERC Online Support
at<EMAIL_ADDRESS>(866) 208-3676 (toll free), or (202)
502-8659 (TTY).
    m. The application is not ready for environmental analysis at this
time.

    n. The existing Groveville Mills Hydroelectric Project consists of:
(1) A 167-foot-long, 37-foot-high concrete gravity dam, with a 140-
foot-long spillway having a crest elevation of 172.4 feet National
Geodetic Vertical Datum of 1929 (NGVD29) and topped with 3-foot-high
wooden flashboards; (2) an impoundment with a gross storage capacity of
approximately 43 acre-feet and a surface area of 5 acres at a normal
pool elevation of 175.4 feet NGVD29; (3) an intake structure with two
gates and a 27-foot-high, 34-foot-wide trashrack; (4) a 9-foot-
diameter, approximately 140-foot-long riveted steel underground
penstock; (5) a powerhouse containing three fixed-output turbine-
generator units with a total rated capacity of 927 kilowatts; (6) a 4-
foot-high submerged stilling basin weir approximately 60 feet
downstream of the dam spillway; (7) a 20-foot-wide, 90-foot-long
tailrace; (8) a 20-foot-long underground generator lead connecting to a
step-up transformer that connects to a 13.2-kilovolt, 40-foot-long
underground transmission line that then connects to a 15-foot-long
aerial transmission line before connecting to the regional grid; and
(9) appurtenant facilities.
    The project operates in a modified run-of-river mode. The project
had an average annual generation of 1,762.7 megawatt-hours between 2012
and 2019.
    o. A copy of the application may be viewed on the Commission's
website at http://www.ferc.gov using the ``eLibrary'' link. Enter the
docket number excluding the last three digits in the docket number
field to access the document (P-3511). For assistance, contact FERC
Online Support at<EMAIL_ADDRESS>or call toll-free, (866)
208-3676 or<PHONE_NUMBER> (TTY). At this time, the Commission has
suspended access to its Public Reference Room due to the proclamation
declaring a National Emergency concerning the Novel Coronavirus Disease
(COVID-19) issued by the President on March 13, 2020.
    You may also register online at http://www.ferc.gov/docs-filing/esubscription.asp to be notified via email of new filings and issuances
related to this or other pending projects. For assistance, contact FERC
Online Support.
    p. Procedural schedule and final amendments: The application will
be processed according to the following preliminary schedule. Revisions
to the schedule will be made as appropriate.

Issue Deficiency Letter (if necessary)--August 2020
Request Additional Information--August 2020
Issue Acceptance Letter--November 2020
Issue Scoping Document 1 for comments--December 2020
Request Additional Information (if necessary)--February 2021
Issue Scoping Document 2 (if necessary)--March 2021
Issue Notice of Ready for Environmental Analysis--March 2021
Commission issues Environmental Assessment (EA)--September 2021
Comments on EA--October 2021

    Final amendments to the application must be filed with the
Commission no later than 30 days from the issuance date of the notice
of ready for environmental analysis.

Kimberly D. Bose,
Secretary.
[FR Doc. 2020-13033 Filed 6-16-20; 8:45 am]
BILLING CODE 6717-01-P


DATE: 	May 2023

SUBJECT: 	HEM Model Output Files for the Neoprene Production Source Category

FROM: 	Matt Woody
	U.S. EPA, OAQPS

TO: 	EPA Docket ID EPA-HQ-OAR-2022-0730

We are placing these files in the docket for this rulemaking because they have been provided to Denka Performance Elastomer, LLC in response to a Request for Production in United States of America v. Denka Performance Elastomer, LLC et al., No. 2:23-cv-00735-CJB-MBN (E.D. La.). This information is already contained in this docket in the form of input files, but we are providing the output files as well. Attached to this memo are the model output files for the Neoprene Production Source Category Whole Facility Post-Control Emissions. Other model output files available in the docket include:
Neoprene Production Source Category Actual Baseline Emissions
Neoprene Production Source Category Actual Post-Control Emissions
Neoprene Production Source Category Acute Emissions
Neoprene Production Source Category Whole Facility Baseline Emissions


[Federal Register Volume 86, Number 70 (Wednesday, April 14, 2021)]
[Notices]
[Pages 19677-19680]
[FR Doc No: 2021-07594]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91505; File No. SR-MIAX-2021-07]

Self-Regulatory Organizations: Miami International Securities
Exchange LLC; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Amend Its Fee Schedule Regarding cPRIME Agency
Order Rebates

April 8, 2021.
    Pursuant to the provisions of 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 March 26, 2021, Miami International Securities
Exchange LLC (``MIAX'' or ``Exchange'') filed with the Securities and
Exchange Commission (``Commission'') a proposed rule change as
described in Items I and II below, which Items have been prepared by
the Exchange. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange is filing a proposal to amend the MIAX Options Fee
Schedule (the ``Fee Schedule'').
    The text of the proposed rule change is available on the Exchange's
website at http://www.miaxoptions.com/rule-filings, at MIAX's principal
office, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to amend the Fee Schedule to extend the cap
waiver of 1,000 contracts per leg for complex PRIME (``cPRIME'') \3\
Agency Order rebates for all tiers under the Priority Customer Rebate
Program (``PCRP'') \4\ until June 30, 2021.
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    \3\ ``cPRIME'' is the process by which a Member may
electronically submit a ``cPRIME Order'' (as defined in Rule
518(b)(7)) it represents as agent (a ``cPRIME Agency Order'')
against principal or solicited interest for execution (a ``cPRIME
Auction''), subject to the restrictions set forth in Exchange Rule
515A, Interpretation and Policy .12. See Exchange Rule 515A.
    \4\ Under the PCRP, MIAX credits each Member the per contract
amount resulting from each Priority Customer order transmitted by
that Member which is executed electronically on the Exchange in all
multiply-listed option classes (excluding, in simple or complex as
applicable, QCC and cQCC Orders, mini-options, Priority Customer-to-
Priority Customer Orders, C2C and cC2C Orders, PRIME and cPRIME AOC
Responses, PRIME and cPRIME Contra-side Orders, PRIME and cPRIME
Orders for which both the Agency and Contra-side Order are Priority
Customers, and executions related to contracts that are routed to
one or more exchanges in connection with the Options Order
Protection and Locked/Crossed Market Plan referenced in Exchange
Rule 1400), provided the Member meets certain percentage thresholds
in a month as described in the PCRP table. See Fee Schedule, Section
1)a)iii. ``Priority Customer'' means a person or entity that (i) is
not a broker or dealer in securities, and (ii) does not place more
than 390 orders in listed options per day on average during a
calendar month for its own beneficial accounts(s). A ``Priority
Customer Order'' means an order for the account of a Priority
Customer. See Exchange Rule 100.
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Background
    Exchange Rule 518(b)(7) defines a cPRIME Order as a type of complex
order \5\ that is submitted for participation in a cPRIME Auction and
trading of cPRIME Orders is governed by Rule 515A, Interpretation and
Policies .12.\6\ cPRIME Orders are processed and executed in the
Exchange's PRIME mechanism, the same mechanism that the Exchange uses
to process and execute simple PRIME orders, pursuant to Exchange Rule
515A.\7\ PRIME is a process by which a Member may electronically submit
for execution an order it represents as agent (an ``Agency Order'')
against principal interest and/or solicited interest. The Member that
submits the Agency Order (``Initiating Member'') agrees to guarantee
the execution of the Agency Order by submitting a contra-side order
representing principal interest or solicited interest (``Contra-Side
Order''). When the Exchange receives a properly designated Agency Order
for Auction processing, a request for response (``RFR'') detailing the
option, side, size and initiating price is broadcasted to MIAX
participants up to an optional designated limit price. Members may
submit responses to the RFR, which can be either an Auction or Cancel
(``AOC'') order or an AOC eQuote. A cPRIME Auction is the price-
improvement mechanism of the Exchange's System pursuant to which an
Initiating Member electronically submits a complex Agency Order into a
cPRIME Auction. The Initiating Member, in submitting an Agency Order,
must be willing to either (i) cross the Agency Order at a single price
against principal or solicited interest, or (ii) automatically match
against principal or solicited interest, the price and size of a RFR
that is broadcast to MIAX participants up to an optional designated
limit price. Such responses are defined as cPRIME AOC Responses or
cPRIME eQuotes. The PRIME mechanism is used for orders on the
Exchange's Simple Order Book.\8\ The cPRIME mechanism is used for
Complex Orders \9\ on the Exchange's Strategy Book,\10\ with the cPRIME
mechanism operating in the same manner for processing and execution of
cPRIME Orders that is used for PRIME Orders on the Simple Order Book.
---------------------------------------------------------------------------

    \5\ A ``complex order'' is any order involving the concurrent
purchase and/or sale of two or more different options in the same
underlying security (the ``legs'' or ``components'' of the complex
order), for the same account, in a ratio that is equal to or greater
than one-to-three (.333) and less than or equal to three-to-one
(3.00) and for the purposes of executing a particular investment
strategy. A complex order can also be a ``stock-option'' order,
which is an order to buy or sell a stated number of units of an
underlying security coupled with the purchase or sale of options
contract(s) on the opposite side of the market, subject to certain
contingencies set forth in the proposed rules governing complex
orders. For a complete definition of a ``complex order,'' see
Exchange Rule 518(a)(5). See also Securities Exchange Act Release
No. 78620 (August 18, 2016), 81 FR 58770 (August 25, 2016) (SR-MIAX-
2016-26).
    \6\ See Securities Exchange Act Release No. 81131 (July 12,
2017), 82 FR 32900 (July 18, 2017) (SR-MIAX-2017-19) (Order Granting
Approval of a Proposed Rule Change to Amend MIAX Options Rules 515,
Execution of Orders and Quotes; 515A, MIAX Price Improvement
Mechanism (``PRIME'') and PRIME Solicitation Mechanism; and 518,
Complex Orders).
    \7\ Id.
    \8\ The ``Simple Order Book'' is the Exchange's regular
electronic book of orders and quotes. See Exchange Rule 518(a)(15).
    \9\ See supra, note 5. Mini-options may only be part of a
complex order that includes other mini-options. Only those complex
orders in the classes designated by the Exchange and communicated to
Members via Regulatory Circular with no more than the applicable
number of legs, as determined by the Exchange on a class-by-class
basis and communicated to Members via Regulatory Circular, are
eligible for processing. See Exchange Rule 518(a)(5).
    \10\ The ``Strategy Book'' is the Exchange's electronic book of
complex orders and complex quotes. See Exchange Rule 518(a)(17).
---------------------------------------------------------------------------

    The Exchange proposes to amend footnote ``*'' in Section 1)a)iii)
of the Fee Schedule to extend the waiver of the contracts cap per leg
for cPRIME Agency Order rebates for all tiers under the PCRP until June
30, 2021. Prior to a rule filing by the Exchange (described below), the
Exchange limited the cPRIME Agency Order Credit to be payable only to
the first 1,000 contracts per leg for each cPRIME Agency Order in all
tiers under the PCRP. On February 28, 2020, the Exchange filed, and the
Commission approved, the Exchange's proposal to waive the 1,000
contracts cap per leg for cPRIME Agency Order rebates for all tiers
under the PCRP from March 1, 2020 until May 31, 2020.\11\
---------------------------------------------------------------------------

    \11\ See Securities Exchange Act Release No. 88349 (March 10,
2020), 85 FR 14995 (March 15, 2020) (SR-MIAX-2020-05).
---------------------------------------------------------------------------

    On May 29, 2020, the Exchange filed, and the Commission approved,
the Exchange's proposal to extend the waiver of the 1,000 contracts cap
per leg for cPRIME Agency Order rebates for all tiers under the PCRP
from June 1, 2020 until July 31, 2020.\12\ On July 31, 2020, the
Exchange filed, and the Commission approved, the Exchange's proposal to
extend the waiver of the 1,000 contracts cap per leg for cPRIME Agency
Order rebates for all tiers under the PCRP from August 1, 2020 until
August 31, 2020.\13\ On August 25, 2020, the Exchange filed, and the
Commission approved, the Exchange's proposal to extend the waiver of
the 1,000 contracts cap per leg for cPRIME Agency Order rebates for all
tiers under the PCRP from August 31, 2020 until December 31, 2020.\14\
On December 21, 2020, the Exchange filed, and the Commission approved
[sic], the

Exchange's proposal to extend the waiver of the 1,000 contracts cap per
leg for cPRIME Agency Order rebates for all tiers under the PCRP from
December 31, 2020, until March 31, 2021.\15\
---------------------------------------------------------------------------

    \12\ See Securities Exchange Act Release No. 89035 (June 9,
2020), 85 FR 36249 (June 15, 2020) (SR-MIAX-2020-12).
    \13\ See Securities Exchange Act Release No. 89530 (August 12,
2020), 85 FR 50845 (August 18, 2020) (SR-MIAX-2020-26).
    \14\ See Securities Exchange Act Release No. 89771 (September 4,
2020), 85 FR 55873 (September 10, 2020) (SR-MIAX-2020-28).
    \15\ See Securities Exchange Act Release No. 90818 (December 29,
2020), 86 FR 350 (January 5, 2021) (SR-MIAX-2020-40).
---------------------------------------------------------------------------

    The Exchange now proposes to extend the cap waiver of 1,000
contracts per leg for cPRIME Agency Order rebates for all tiers under
the PCRP until June 30, 2021. The purpose of this proposed change is
for business and competitive reasons and to continue to entice market
participants to submit larger-sized cPRIME Agency Orders.
    The Commission has repeatedly expressed its preference for
competition over regulatory intervention in determining prices,
products, and services in the securities markets. In Regulation NMS,
the Commission highlighted the importance of market forces in
determining prices and self-regulatory organization (``SRO'') revenues
and, also, recognized that current regulation of the market system
``has been remarkably successful in promoting market competition in its
broader forms that are most important to investors and listed
companies.'' \16\ There are currently 16 registered options exchanges
competing for order flow. Based on publicly-available information, and
excluding index-based options, no single exchange has more than 15% of
the market share of executed volume of multiply-listed equity options
trades for the month of February 2021.\17\ Therefore, no exchange
possesses significant pricing power in the execution of multiply-listed
equity options order flow. More specifically, for the month of February
2021, the Exchange had a total market share of 4.04% of all equity
options volume.\18\
---------------------------------------------------------------------------

    \16\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496 (June 29, 2005).
    \17\ The OCC publishes options and futures volume in a variety
of formats, including daily and monthly volume by exchange,
available at: https://www.theocc.com/market-data/volume/default.jsp.
    \18\ See id.
---------------------------------------------------------------------------

    The Exchange believes that the ever-shifting market shares among
the exchanges from month to month demonstrates that market participants
can shift order flow (as further described below), discontinue, or
reduce use of certain categories of products, in response to
transaction and non-transaction fee changes. For example, on March 1,
2019, the Exchange filed with the Commission an immediately effective
filing to decrease certain credits assessable to Members pursuant to
the PCRP.\19\ The Exchange experienced a decrease in total market share
between the months of February and March of 2019. Accordingly, the
Exchange believes that the March 1, 2019 fee change may have
contributed to the decrease in the Exchange's market share and, as
such, the Exchange believes competitive forces constrain options
exchange transaction and non-transaction fees.
---------------------------------------------------------------------------

    \19\ See Securities Exchange Act Release No. 85301 (March 13,
2019), 84 FR 10166 (March 19, 2019) (SR-MIAX-2019-09).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that its proposal to amend its Fee Schedule
is consistent with Section 6(b) of the Act \20\ in general, and
furthers the objectives of Section 6(b)(4) of the Act \21\ in
particular, in that it is an equitable allocation of reasonable fees
and other charges among its members and issuers and other persons using
its facilities. The Exchange also believes the proposal furthers the
objectives of Section 6(b)(5) of the Act in that it is designed to
promote just and equitable principles of trade, to remove impediments
to and perfect the mechanism of a free and open market and a national
market system, and, in general to protect investors and the public
interest and is not designed to permit unfair discrimination between
customers, issuers, brokers and dealers.
---------------------------------------------------------------------------

    \20\ 15 U.S.C. 78f(b).
    \21\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

    The Exchange believes its proposal to extend the waiver of the cap
of 1,000 contracts per leg for cPRIME Agency Order rebates for all
tiers under the PCRP until June 30, 2021 provides for the equitable
allocation of reasonable dues and fees and is not unfairly
discriminatory for the following reasons. The Exchange operates in a
highly competitive market. The Commission has repeatedly expressed its
preference for competition over regulatory intervention in determining
prices, products, and services in the securities markets. In Regulation
NMS, the Commission highlighted the importance of market forces in
determining prices and SRO revenues and, also, recognized that current
regulation of the market system ``has been remarkably successful in
promoting market competition in its broader forms that are most
important to investors and listed companies.'' \22\ There are currently
16 registered options exchanges competing for order flow. Based on
publicly-available information, and excluding index-based options, no
single exchange has more than 15% of the market share of executed
volume of multiply-listed equity options trades for the month of
February 2021.\23\ Therefore, no exchange possesses significant pricing
power in the execution of multiply-listed equity and ETF options order
flow. More specifically, for the month of February 2021, the Exchange
had a total market share of 4.04% of all equity options volume.\24\
---------------------------------------------------------------------------

    \22\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496 (June 29, 2005).
    \23\ See supra note 17.
    \24\ See id.
---------------------------------------------------------------------------

    The Exchange believes that the ever-shifting market shares among
the exchanges from month to month demonstrates that market participants
can shift order flow, or discontinue or reduce use of certain
categories of products, in response to transaction and/or non-
transaction fee changes. For example, on March 1, 2019, the Exchange
filed with the Commission an immediately effective filing to decrease
certain credits assessable to Members pursuant to the PCRP.\25\ The
Exchange experienced a decrease in total market share between the
months of February and March of 2019. Accordingly, the Exchange
believes that the March 1, 2019 fee change may have contributed to the
decrease in the Exchange's market share and, as such, the Exchange
believes competitive forces constrain options exchange transaction and
non-transaction fees and market participants can shift order flow based
on fee changes instituted by the exchanges.
---------------------------------------------------------------------------

    \25\ See supra note 19.
---------------------------------------------------------------------------

    The Exchange believes that its proposal to continue to waive the
1,000 contracts cap per leg for cPRIME Agency Order rebates for all
tiers in the PCRP until June 30, 2021 is reasonable, equitably
allocated, and not unfairly discriminatory because this change is for
business and competitive reasons and available equally to all market
participants. The Exchange cannot predict with certainty whether any
market participant would submit additional cPRIME Agency Orders in
excess of 1,000 contracts per leg in light of the proposal to continue
to waive the cap of 1,000 contracts per leg for cPRIME Agency Order
rebates for all tiers under the PCRP, but believes that market
participants would continue to be encouraged to submit larger orders to
obtain the additional credits. The Exchange believes that this proposed
change would encourage increased cPRIME Agency Order flow, which will
bring greater volume and liquidity to the Exchange, which benefits all
market participants by providing more trading opportunities and tighter
spreads.

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

    In accordance with Section 6(b)(8) of the Act,\26\ the Exchange
believes that the proposed rule changes would not impose any burden on
competition that are not necessary or appropriate in furtherance of the
purposes of the Act. Instead, as discussed above, the Exchange believes
that the proposed change would continue to encourage the submission of
additional liquidity to a public exchange, thereby promoting market
depth, price discovery and transparency and enhancing order execution
opportunities for all market participants. As a result, the Exchange
believes that the proposed change furthers the Commission's goal in
adopting Regulation NMS of fostering integrated competition among
orders.
---------------------------------------------------------------------------

    \26\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

    The Exchange does not believe that other market participants at the
Exchange would be placed at a relative disadvantage by the proposed
change to continue to waive the cap of 1,000 contracts per leg for
cPRIME Agency Order rebates for all tiers under the PCRP until June 30,
2021. The proposed change is designed to attract additional order flow
to the Exchange. The Exchange believes that this proposal will continue
to encourage Members to submit Priority Customer cPRIME Agency Orders,
which will increase liquidity and benefit all market participants by
providing more trading opportunities and tighter spreads. Accordingly,
the Exchange believes that the proposed change will not impose any
burden on competition not necessary or appropriate in furtherance of
the purposes of the Act because it will continue to encourage order
flow, which provides greater volume and liquidity, benefiting all
market participants by providing more trading opportunities and tighter
spreads.
    The Exchange operates in a highly competitive market in which
market participants can readily favor competing venues if they deem fee
levels at a particular venue to be excessive. There are currently 16
registered options exchanges competing for order flow. Based on
publicly-available information, and excluding index-based options, no
single exchange has more than 15% of the market share of executed
volume of multiply-listed equity options trades for the month of
February 2021.\27\ Therefore, no exchange possesses significant pricing
power in the execution of multiply-listed equity options order flow.
More specifically, for the month of February 2021, the Exchange had a
total market share of 4.04% of all equity options volume.\28\
---------------------------------------------------------------------------

    \27\ See supra note 17.
    \28\ See id.
---------------------------------------------------------------------------

    In such an environment, the Exchange must continually adjust its
transaction and non-transaction fees to remain competitive with other
exchanges and to attract order flow. The Exchange believes that the
proposed rule change reflects this competitive environment because it
continues to encourage market participants to provide and send order
flow to the Exchange. To the extent this is achieved, all the
Exchange's market participants should benefit from the improved market
quality.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act,\29\ and Rule 19b-4(f)(2) \30\ thereunder.
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.
---------------------------------------------------------------------------

    \29\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \30\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

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-MIAX-2021-07 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-MIAX-2021-07. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-MIAX-2021-07 and should be submitted on
or before May 5, 2021.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\31\
---------------------------------------------------------------------------

    \31\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-07594 Filed 4-13-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: May 9, 2006 (Volume 71, Number 89)]
[Notices]
[Page 26952-26953]
[DOCID:fr09my06-84]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Notice of Application Accepted for Filing and Soliciting Motions
To Intervene, Protests, and Comments

May 2, 2006.
    Take notice that the following hydroelectric application has been
filed with the Commission and is available for public inspection:
    a. Type of Application: Preliminary Permit.
    b. Project No.: 12655-000
    c. Date filed: February 20, 2006.
    d. Applicant: Fall Line Hydro Company, Incorporated.
    e. Name of Project: Carters Reregulation Dam Hydroelectric Project.
    f. Location: The project would be located at the existing U.S. Army
Corps of Engineers' Carters Reregulation Dam on the Coosawattee River
in Murray County, Georgia.
    g. Filed Pursuant to: Federal Power Act, 16 U.S.C. 791(a)-825(r).
    h. Applicant Contacts: Robert A. Davis, 390 Timber Laurel Lane,
Lawrenceville, GA 30043, and Michael P. O'Brien, 302 North Spring
Blvd., Tarpon Springs, FL 34689.
    i. FERC Contact: Chris Yeakel,<PHONE_NUMBER>.
    j. Deadline for filing comments, protests, and motions to
intervene: 60 days from the issuance date of this notice.
    The Commission's Rules of Practice and Procedure require all
intervenors filing documents with the Commission to serve a copy of
that document on each person in the official service list for the
project. Further, if an intervenor files comments or documents with the
Commission relating to the merits of an issue that may affect the
responsibilities of a particular resource agency, they must also serve
a copy of the document on that resource agency.
    k. Description of Project: The proposed project would use the
existing Army Corps of Engineers' Carters Reregulation Dam and consist
of: (1) Three proposed eight-foot-diameter steel penstocks 85 feet in
length, (2) a proposed powerhouse containing two generating units with
an installed capacity of 4.5 megawatts, (3) a proposed tailrace, (4) a
proposed intake structure, (5) a proposed transmission line one-half
mile in length of a voltage yet to be determined; and (7) appurtenant
facilities. The project would have an annual generation of 16.5
gigawatt-hours, which would be sold to a local utility.

    l. Locations of Applications: A copy of the application is
available for inspection and reproduction at the Commission in the
Public Reference Room, located at 888 First Street NE., Room 2A,
Washington, DC 20426, or by calling<PHONE_NUMBER>. This filing may
also be viewed on the Commission's Web site at http://www.ferc.gov

using the ``eLibrary'' link. Enter the docket number excluding the last
three digits in the docket number field to access the document. For
assistance, call toll-free 1-866-208-3676 or e-mail
<EMAIL_ADDRESS>For TTY, call<PHONE_NUMBER>. A copy is

also available for inspection and reproduction at the address in item h
above.
    m. Individuals desiring to be included on the Commission's mailing
list should so indicate by writing to the Secretary of the Commission.
    n. Competing Preliminary Permit: Anyone desiring to file a
competing application for preliminary permit for a proposed project
must submit the competing application itself, or a notice of intent to
file such an application, to the Commission on or before the specified
comment date for the particular application (see 18 CFR 4.36).
Submission of a timely notice of intent allows an interested person to
file the competing preliminary permit application no later than 30 days
after the specified comment date for the particular application. A
competing preliminary permit application must conform with 18 CFR
4.30(b) and 4.36.
    o. Competing Development Application: Any qualified development
applicant desiring to file a competing development application must
submit to the Commission, on or before a specified comment date for the
particular application, either a competing development application or a
notice of intent to file such an application. Submission of a timely
notice of intent to file a development application allows an interested
person to file the competing application no later than 120 days after
the specified comment date for the particular application. A competing
license application must conform with 18 CFR 4.30(b) and 4.36.
    p. Notice of Intent: A notice of intent must specify the exact
name, business address, and telephone number of the prospective
applicant, and must include an unequivocal statement of intent to
submit, if such an application may be filed, either a preliminary
permit application or a development application (specify which type of
application). A notice of intent must be served on the applicant(s)
named in this public notice.
    q. Proposed Scope of Studies under Permit: A preliminary permit, if
issued, does not authorize construction. The term of the proposed
preliminary permit would be 36 months. The work proposed under the
preliminary permit would include economic analysis, preparation of
preliminary engineering plans, and a study of environmental impacts.
Based on the results of these studies, the Applicant would decide
whether to proceed with the preparation of a development application to
construct and operate the project.
    r. Comments, Protests, or Motions To Intervene: Anyone may submit
comments, a protest, or a motion to intervene in accordance with the
requirements of Rules of Practice and Procedure, 18 CFR 385.210,
385.211, 385.214. In determining the appropriate action to take, the
Commission will consider all protests or other comments filed, but only
those who file a motion to intervene in accordance with the
Commission's Rules may become a party to the proceeding. Any comments,
protests, or motions to intervene must be received on or before the
specified comment date for the particular application.
    Comments, protests and interventions may be filed electronically
via the Internet in lieu of paper; See 18 CFR 385.2001(a)(1)(iii) and
the instructions on the Commission's Web site under ``e-filing'' link.
The Commission strongly encourages electronic filing.
    s. Filing and Service of Responsive Documents: Any filings must
bear in all capital letters the title ``COMMENTS'', ``RECOMMENDATIONS
FOR TERMS AND CONDITIONS'', ``PROTEST'', ``COMPETING APPLICATION'' or
``MOTION TO INTERVENE'', as applicable, and the Project Number of the
particular application to which the filing refers. Any of the above-
named documents must be filed by providing the original and the number
of copies provided by the Commission's regulations to: The Secretary,
Federal Energy Regulatory Commission, 888 First Street, NE.,
Washington, DC 20426. A copy of any motion to intervene must also be
served upon each representative of the Applicant specified in the
particular application.
    t. Agency Comments: Federal, state, and local agencies are invited
to file comments on the described application. A copy of the
application may be obtained by agencies directly from the Applicant. If
an agency does not file comments within the time specified for filing
comments, it will be presumed to have no comments. One copy of an
agency's comments must also be sent to the Applicant's representatives.

Magalie R. Salas,
Secretary.
 [FR Doc. E6-6945 Filed 5-8-06; 8:45 am]

BILLING CODE 6717-01-P