[Federal Register: August 31, 2009 (Volume 74, Number 167)]
[Notices]
[Page 44840]
[DOCID:fr31au09-71]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. RM98-1-000]

Records Governing Off-the Record Communications; Notice Regarding
Prior Notice

August 25, 2009.
    On August 24, 2009, the Federal Energy Regulatory Commission
published in the Federal Register a Public Notice in Docket No. RM98-1-
000.\1\
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    \1\ 74 FR 42671 (2009).
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    The Commission inadvertently published this document in the Federal
Register and the notice should be disregarded.

Kimberly D. Bose,
Secretary.
[FR Doc. E9-20937 Filed 8-28-09; 8:45 am]

BILLING CODE 6717-01-P


Index for Initial Input Data Sets for the Final Rule for the State of Ohio River Miles by County ( us_ rchmi. sd2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . DCN 37802 Lead Concentration in Fish Tissue ( ubklook4. sd2) . . . . . . . . . . . . . . . . . . . . DCN 37803 POTW Removals Rates and Pollutant Toxic Weights ( twf_ remr. sd2) . . . . . . DCN 37804 POTW Sludge Criteria ( sldg_ cri. sd2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DCN 37805 U. S. Shore Miles ( shoremi. sd2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DCN 37806 Pollutant Code Match to CAS Number ( poll2cas. sd2) . . . . . . . . . . . . . . . . DCN 37807 Fishing Licenses ( fish_ lic. sd2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DCN 37808 Fish Advisories ( fishadv1. sd2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DCN 37809 Facility, POTW, and Reach Information ( fac_ info. sd2) . . . . . . . . . . . . . . . DCN 37810 Facility Size ( facsize. sd2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DCN 37811 Pollutant Data ( chemdata. sd2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DCN 37812 Ohio MP& M Survey Facilities ( screenrs. sd2) . . . . . . . . . . . . . . . . . . . . . . . DCN 37813 Permit Compliance System Facility Loadings ( pcsload. sd2) . . . . . . . . . . . . DCN 37814 National MP& M Facilities in Ohio ( mpm_ facs. sd2) . . . . . . . . . . . . . . . . . . DCN 37815 Baseline Closures ( ohioclos. sd2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DCN 37816 National MP& M Facilities in Ohio Loadings ( mpmload. sd2) . . . . . . . . . . DCN 37817 Ohio MP& M Survey Facilities Loadings ( scrload. sd2) . . . . . . . . . . . . . . . . DCN 37818 Modified Water Quality Model Data using Mean Flow ( fnlmean. sd2) . . . . DCN 37819 Modified Water Quality Model Data using Low Flow ( fnllow. sd2) . . . . . . DCN 37820 Water Quality Model Output using Mean Flow ( brdevent. sd2) . . . . . . . . . DCN 37821 Water Quality Model Output using Low Flow ( brdevent2. sd2) . . . . . . . . . DCN 37822 Water Quality Model . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DCN 37823


[Federal Register Volume 80, Number 30 (Friday, February 13, 2015)]
[Notices]
[Pages 8126-8130]
[FR Doc No: 2015-03063]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Notice of Passenger Facility Charge (PFC) Approvals and
Disapprovals

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Monthly Notice of PFC Approvals and Disapprovals. In January
2015, there were nine applications approved. This notice also includes
information on two applications, one approved in May 2012 and the other
disapproved in November 2014, inadvertently left off the May 2012 and
November 2014 notices, respectively. Additionally, three approved
amendments to previously approved applications are listed.

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SUMMARY: The FAA publishes a monthly notice, as appropriate, of PFC
approvals and disapprovals under the provisions of the Aviation Safety
and Capacity Expansion Act of 1990 (title IX of the Omnibus Budget
Reconciliation Act of 1990) (Pub. L. 101-508) and part 158 of the
Federal Aviation Regulations (14 CFR part 158). This notice is
published pursuant to paragraph d of Sec.  158.29.

PFC Application Disapproved

    Public Agency: The Pennsylvania State University, State College,
Pennsylvania.
    Application Number: 15-06-C-00-UNV.
    Application type: Impose and use a PFC.

    Reason for Disapproval: The Centre County Airport Authority has
exclusive control of the terminal complex at University Park Airport
(UNV) while the Pennsylvania State University (PSU) has exclusive
control of the airfield. The FAA has determined that both organizations
operate independently of each other. Since the proposed PFC
application, submitted by the PSU, included projects that would impact
both airfield and terminal areas, the FAA concluded that the existing
arrangement between the two entities contravenes the public agency's
obligations under the PFC assurances, including requisite legal
authority to impose a PFC to finance and carry out the proposed
projects. Therefore, the FAA could not approve PSU's PFC application.
    Decision date: November 20, 2014.

FOR FURTHER INFORMATION CONTACT: Lori Ledebohm, Harrisburg Airports
District Office,<PHONE_NUMBER>.

PFC Applications Approved

    Public Agency: Town of Islip, New York.
    Application Number: 12-07-C-00-ISP.
    Application Type: Impose and use a PFC.
    PFC Level: $4.50.
    Total PFC Revenue Approved in this Decision: $6,492,764.
    Earliest Charge Effective Date: August 1, 2015.
    Estimated Charge Expiration Date: August 1, 2017.
    Class of Air Carriers Not Required To Collect PFC'S: Non-scheduled/
on demand air carriers filing FAA Form 1800-31.
    Determination: Approved. Based on information submitted in the
public agency's application, the FAA has determined that the approved
class accounts for less than 1 percent of the total annual enplanements
at Long Island MacArthur Airport (ISP).
    Brief Description of Projects Approved for Collection at ISP and
Use at ISP:

Signage improvements.
Install miscellaneous navigational aids.
Construct parallel taxiway D.
Runway 24 centerline/touchdown zone/runway guard lights.
Glycol treatment plant preliminary engineering.
Rehabilitate portions of runway 06/24.
Re-cable portions of runway 06/24.
Sprinkler system, main terminal.
Acquire snow broom replacement.
Acquire airfield deicing vehicle.
Construct underground glycol treatment plant--engineering design only.
Aviation demand update.
Conduct wildlife hazard assessment study.
Taxiways B, D and A design.
Perform airport master plan update and geographic information system
work.
Extend taxiway B from C/B3 to runway 33L and realign taxiway E between
taxiway S and runway 33L.
Construct glycol containment and treatment system.
Replace airfield electrical vault design.
Replace security system hardware.
Purchase and install jet bridge.
PFC application development.
PFC program application/administrative costs.
Purchase snow removal equipment.
Purchase four patrol vehicles.
West apron rehabilitation.
West concourse airside baggage claim access road.
Purchase two runway and apron vacuum sweepers.
Passenger seating replacement.
Design general aviation customs and border protection facility.

    Brief Description of Projects Approved for Collection at ISP and
Use at Bayport Aerodrome (23N):

Obstruction removal.
Design upgrade to airport perimeter fence.

    Brief Description of Projects Partially Approved for Collection at
ISP and Use at ISP: Construct taxiway G from runway 06 to taxiway W.
    Determination: The application was submitted with project costs
based on estimates. Before the FAA issued its PFC decision, the FAA
became aware that the actual bid costs were less than the amount
requested in the PFC application. Therefore, the FAA limited the PFC
amount based on the actual bid costs.
    Construct new aircraft rescue and firefighting building design.
    Determination: The application was submitted with project costs
based on estimates. Before the FAA issued its PFC decision, the FAA
became aware that the actual bid costs were less than the amount
requested in the PFC application. Therefore, the FAA limited the PFC
amount based on the actual bid costs.
    Brief Description of project Partially Approved for Collection at
ISP and Use at 23N: Replace existing perimeter fence including two
gates.
    Determination: The application was submitted with project costs
based on estimates. Before the FAA issued its PFC decision, the FAA
became aware that the actual bid costs were less than the amount
requested in the PFC application. Therefore, the FAA limited the PFC
amount based on the actual bid costs.
    Brief Description of Project Partially Approved for Collection at
ISP for Future Use at ISP: Design obstruction removal.
    Brief Description of Disapproved Projects:

Replace runway sprinkler pump station at 23N.
Design replacement sprinkler system at 23N.
Replace sprinkler system, phase I, at 23N.

    Determination: The FAA determined that these three projects were
maintenance items and, thus, did not meet the requirements of Sec.
158.15(b). Therefore, these projects were disapproved.
    Decision Date: May 11, 2012.

FOR FURTHER INFORMATION CONTACT: Andrew Brooks, New York Airports
District Office,<PHONE_NUMBER>.
    Public Agency: Fort Wayne--Allen County Airport Authority, Fort
Wayne, Indiana.
    Application Number: 15-04-C-00-FWA.
    Application Type: Impose and use a PFC.
    PFC Level: $4.50.
    Total PFC REvenue Approved in This Decision: $4,055,000.
    Earliest Charge Effective Date: March 1, 2018.
    Estimated Charge Expiration Date: July 1, 2021.
    Class of Air Carriers Not Required To Collect PFC'S: Nonscheduled/
on-demand operators filing FAA Form 1800-31 that (1) by Federal
regulation are not required to report passenger statistics to the
Federal government and (2) enplane 10 or fewer passengers per flight
that is operated from Fort Wayne International Airport (FWA).
    Determination: Approved. Based on information submitted in the
public agency's application, the FAA has determined that the approved
class accounts for less than 1 percent of the total annual enplanements
at FWA.
    Brief Description of Projects Approved for Collection and Use:

Replace jet bridge 5.
Upgrade public address system to digital.
Snow removal vehicle with plow and mid-mount broom attachments.
Snow removal vehicle with plow and mid-mount broom attachments.
Replace jet bridge 7.
High speed runway snow broom.
Commercial aircraft deicer.
Terminal building planning study.
Replace shared use infrastructure technology environment equipment.

    Decision Date: January 6, 2015.

FOR FURTHER INFORMATION CONTACT: Michael Brown, Chicago Airports
District Office,<PHONE_NUMBER>.
    Public Agency: Bishop International Airport Authority, Flint,
Michigan.
    Application Number: 14-02-C-00-FNT.
    Application Type: Impose and use a PFC.
    PFC Level: $4.50.
    Total PFC Revenue Approved in This Decision: $11,859,545.
    Earliest Charge Effective Date: January 1, 2018.
    Estimated Charge Expiration Date: August 1, 2024.
    Class of Air Carriers Not Required To Collect PFC'S: Non-scheduled/
on demand air taxi operators filing FAA Form 1800-31.
    Determination: Approved. Based on information submitted in the
public agency's application, the FAA has determined that the approved
class accounts for less than 1 percent of the total annual enplanements
at Bishop International Airport.
    Brief Description of Projects Approved for Collection and Use:

Sand storage building.
Removal of runway 5/23.
Taxiway B construction.
Cargo apron rehabilitation and conversion to deicing pad.
Terminal improvements.
Terminal expansion.
Acquisition and installation of passenger boarding bridges.
Terminal apron rehabilitation.

    Decision Date: January 6, 2015.

FOR FURTHER INFORMATION CONTACT: Irene Porter, Detroit Airports
District Office,<PHONE_NUMBER>.
    Public Agency: City of Pueblo, Colorado.
    Application Number: 15-03-C-00-PUB.
    Application Type: Impose and use a PFC.
    PFC Level: $4.50.
    Total PFC Revenue Approved in This Decision: $833,789.
    Earliest Charge Effective Date: March 1, 2015.
    Estimated Charge Expiration Date: April 1, 2036.
    Class of Air Carriers Not Required To Collect PFC'S: None.
    Brief Description of Projects Approved for Collection and Use:

Rehabilitate runway 8L/26R and transition of crosswind runway 17/35.
Improve runway 8R/26L runway safety area.
Construct replacement training runway.
Rehabilitate general aviation parking apron.
Conduct wildlife hazard assessments.
Acquire aircraft rescue and firefighting vehicle.
Rehabilitate taxiway (portions of taxiways A and A9).
Rehabilitate taxiway D.
PFC administration fees.

    Decision Date: January 7, 2015.

FOR FURTHER INFORMATION CONTACT: Jesse Lyman, Denver Airports District
Office,<PHONE_NUMBER>.
    Public Agency: City of New Orleans and New Orleans Aviation Board,
New Orleans, Louisiana.
    Application Number: 14-11-C-00-MSY.
    Application Type: Impose and use a PFC.
    PFC Level: $3.00.
    Total PFC Revenue Approved in This Decision: $400,733,236.
    Earliest Charge Effective Date: February 1, 2026.
    Estimated Charge Expiration Date: September 1, 2043.
    Class of Air carriers Not Required To Collect PFC'S: On-demand air
taxi/commercial operations.
    Determination: Approved. Based on information submitted in the
public agency's application, the FAA has determined that the approved
class accounts for less than 1 percent of the total annual enplanements
at Louis Armstrong New Orleans International Airport.
    Brief Description of Projects Approved for Collection and Use at a
$4.50 PFC Level:

Airfield electrical design and construction.
Perimeter fencing replacement construction.
Airfield pavement rehabilitation design and construction.

    Brief Description of Projects Approved for Collection and Use at a
$3.00 PFC Level:

Land use and development study.
Long term development feasibility study.
Drainage pumping station design and construction.
    Brief Description of Projects Partially Approved for Collection and
Use at a $3.00 PFC Level: Airfield pavement condition study.
    Determination: The FAA reviewed the scope of the project and found
that the following work elements do not meet the requirements of Sec.
158.15(b). Therefore, PFC revenue cannot be used on these elements: (1)
Micro Paver software (or an approved equal); (2) onsite training to
airport staff; and (3) preparing an airfield signage plan showing the
plan location of the airfield signs, depicting sign type, style, size,
model, etc.
    Long term planning study.
    Determination: The FAA reviewed the supporting documentation and
found that the documentation supported only $6,801,500 in total project
costs and not the $7,551,500 amount shown in the PFC application.
    Long term development program--terminal design and construction.
    Determination: The FAA partially approved this project for two
reasons. (1) The FAA reviewed the scope of the project and found that
the following work elements did not meet the requirements of Sec.
158.15(b): airport administration (operations offices), baggage service
offices, airline ticket offices, Transportation Security Administration
offices, loading dock, storage, police station, central baggage
inspection system equipment (build out and equipment), and escalation
and contingency fees. (2) The public agency did not include a letter
from Customs and Border Control certifying that the Federal Inspection
Services (FIS) facility is sized to the staffing levels that will be
provided. Therefore, the FAA was not able to verify that the space
requested was the minimum necessary as required in Table N-5 (1) of FAA
Order 5100.38D, Airport Improvement Program (AIP) Handbook, (September
30, 2014). Therefore, PFC revenue cannot be used on items relating to
the FIS facility.
    Long term development program--airside design and construction.
    Determination: The FAA reviewed the scope of the project and found
that the use of PFC revenue for contingencies does not meet the
requirements of Sec.  158.15(b). Therefore, the public agency may not
use PFC revenue for contingencies.
    Long term development program--landside design and construction.
    Determination: The FAA reviewed the scope of the project and found
that the following work elements do not meet the requirements of Sec.
158.15(b). Therefore, the public agency may not use PFC revenue on the
following elements: contingencies; parking structure(s); hotel
infrastructure; access roads (off-airport); landscaping within site
development; surface parking; and utilities.
    Brief Description of Disapproved Project: Access road improvements,
design and construction.
    Determination: Table P-3(a)(6) of FAA Order 5100.38D, AIP Handbook,
(September 30, 2014), requires that eligible access roads must
exclusively serve airport traffic. This means that an access road that
serves both airport traffic and non-airport traffic cannot be prorated.
In mixed use situations of

airport/non-airport use, only the portion of the road that is beyond
the non-airport access point is eligible. In this case, the proposed
road is not beyond the non-airport access point and, therefore, the
road is not PFC-eligible.
    Brief Description of Withdrawn Project: Airfield lighting vault.
    Date of Withdrawal: September 3, 2014.
    Decision Date: January 9, 2015.

FOR FURTHER INFORMATION CONTACT: Bill Bell, Louisiana/New Mexico
Airports Development Office,<PHONE_NUMBER>.
    Public Agency: City of Albany, Georgia.
    Application Number: 15-07-C-00-ABY.
    Application Type: Impose and use a PFC.
    PFC Level: $4.50.
    Total PFC Revenue Approved in This Decision: $105,777.
    Earliest Charge Effective Date: April 1, 2015.
    Estimated Charge Expiration Date: June 1, 2016.
    Class of Air Carriers Not Required To Collect PFC'S: Air taxi/
commercial operators filing FAA Form 1800-31 and operating at Southwest
Georgia Regional Airport (ABY).
    Determination: Approved. Based on information submitted in the
public agency's application, the FAA has determined that the approved
class accounts for less than 1 percent of the total annual enplanements
at ABY.
    Brief Description of Projects Approved for Collection and Use:

Wildlife hazard assessment.
Commercial apron expansion.

    Brief Description of Project Partially Approved for Collection and
Use: Communications building (new equipment shelter).
    Determination: The FAA determined that only the demolition of the
old terminal building and relocation of the FAA communications
equipment were PFC eligible.
    Decision Date: January 12, 2015.

FOR FURTHER INFORMATION CONTACT: Parks Preston, Atlanta Airports
District Office,<PHONE_NUMBER>.
    Public Agency: Des Moines Airport Authority, Des Moines, Iowa.
    Application Number: 15-14-C-00-DSM.
    Application Type: Impose and use a PFC.
    PFC Level: $4.50.
    Total PFC Revenue Approved in This Decision: $6,865,187.
    Earliest Charge Effective Date: December 1, 2020.
    Estimated Charge Expiration Date: April 1, 2022.
    Class of Air Carriers Not Required To Collect PFC'S: Air taxi/
commercial operators filing FAA Form 1800-31.
    Determination: Approved. Based on information submitted in the
public agency's application, the FAA has determined that the approved
class accounts for less than 1 percent of the total annual enplanements
at Des Moines International Airport.
    Brief Description of Projects Approved for Collection and Use:

Pre-conditioned air units affixed to boarding bridges.
Terminal area concept plan.
Terminal capacity improvement project.
Aircraft rescue and firefighting vehicle.
Aircraft rescue and firefighting building communication upgrade.
Aircraft rescue and firefighting road construction.
Runway 13/31 reconstruction.

    Decision Date: January 15, 2015.

FOR FURTHER INFORMATION CONTACT: Sheila Bridges, Central Region
Airports Division,<PHONE_NUMBER>.
    Public Agency: Spokane Airport Board, Spokane, Washington.
    Application Number: 15-10-C-00-GEG.
    Application Type: Impose and use a PFC.
    PFC Level: $4.50.
    Total PFC Revenue Approved in This Decision: $15,036,120.
    Earliest Charge Effective Date: July 1, 2015.
    Estimated Charge Expiration Date: July 1, 2018.
    Class of Air Carriers Not Required To Collect PFC'S: None.
    Brief Description of Projects Approved for Collection and Use:

Terminal area plan (planning study).
Airfield perimeter security enhancement.
Replacement of flight information display systems and related flight
announcement systems.
Terminal access control enhancements.
Glycol recovery solution design.
Elevator replacement.
PFC application and administration fees.

    Brief Description of Withdrawn Projects:

Aircraft rescue and firefighting vehicle replacement.
Land acquisition.

    Date of Withdrawal: December 5, 2014.
    Decision Date: January 16, 2015.

FOR FURTHER INFORMATION CONTACT: Andrew Edstrom, Seattle Airports
District Office,<PHONE_NUMBER>.
    Public Agency: Hall County Airport Authority, Grand Island,
Nebraska.
    Application Number: 15-04-C-00-GRI.
    Application Type: Impose and use a PFC.
    PFC level: $4.50.
    Total PFC Revenue Approved in This Decision: $3,711,558.
    Earliest Charge Effective Date: May 1, 2016.
    Estimated Charge Expiration Date: March 1, 2031.
    Class of Air Carriers Not Required To Collect PFC'S: None.
    Brief Description of Projects Approved for Collection and Use:

Terminal area master plan.
Conduct environmental assessment.
Improve terminal building--phase 1, engineering services.
Improve terminal building--phase 2, construction.

    Decision Date: January 20, 2015.

FOR FURTHER INFORMATION CONTACT: Sheila Bridges, Central Region
Airports Division,<PHONE_NUMBER>.
    Public Agency: City of Eugene, Oregon.
    Application Number: 15-12-C-00-EUG.
    Application Type: Impose and use a PFC.
    PFC Level: $4.50.
    Total PFC Revenue Approved in This Decision: $5,422,230.
    Earliest Charge Effective Date: June 1, 2015.
    Estimated Charge Expiration Date: January 1, 2019.
    Class of Air Carriers Not Required To Collect PFC'S: Nonscheduled/
on-demand air carriers filing FAA Form 1800-31.
    Determination: Approved. Based on information submitted in the
public agency's application, the FAA has determined that the approved
class accounts for less than 1 percent of the total annual enplanements
at Eugene Airport--Mahlon Sweet Field.
    Brief Description of Projects Approved for Collection and Use:

Access control upgrade and installation.
B-3 ramp rehabilitation.
Terminal roof replacement.
Gate A1 jet bridge.
PFC administration costs.

    Decision Date: January 23, 2015.

FOR FURTHER INFORMATION CONTACT: Andrew Edstrom, Seattle Airports
District Office,<PHONE_NUMBER>.

                                           Amendments to PFC Approvals
----------------------------------------------------------------------------------------------------------------
                                                                                Original         Amended
                                     Amendment       Original         Amended        estimated       estimated
   Amendment No., city, state      approved date   approved net    approved net    charge  exp.    charge  exp.
                                                    PFC revenue     PFC revenue        date            date
----------------------------------------------------------------------------------------------------------------
08-09-C-03-STL, St. Louis, MO...        01/07/15    $758,497,059    $747,211,611        10/01/26        04/01/26
08-04-C-01-HLN, Helena, MT......        01/07/15         893,513         893,476        07/01/17        02/01/16
12-04-C-01-TWF, Twin Falls, ID..        01/15/15         543,523         556,066        06/01/16        06/01/17
----------------------------------------------------------------------------------------------------------------

    Issued in Washington, DC on February 9, 2015.
Joe Hebert,
Manager, Financial Analysis and Passenger Facility Charge Branch.
[FR Doc. 2015-03063 Filed 2-12-15; 8:45 am]
BILLING CODE 4910-13-P


Memorandum

DATE:  June 23, 2010

FROM:  Larry Sorrels

	  US EPA/OAQPS/HEID/ABCG

TO: 	  Docket No. EPA-HQ-OAR-2009-0491

SUBJECT:  EMPAX runs for Transport Rule Proposal

This note is to indicate that there are five Excel spreadsheets, each
containing results and data for the Economic Model for Policy Analysis
(EMPAX) runs done for each alternative examined as part of regulatory
analyses for the proposed Transport Rule that will be published in 2010.
  The runs are the following:

EMPAXresults_proposedtransportremedy.xls – File with the full set of
results and data for the EMPAX run for the proposed remedy included in
the proposed Transport Rule.

EMPAXresults_intrastatetradingremedy.xls - File with the full set of
results and data for the EMPAX run for the intrastate trading remedy
included in the proposed Transport Rule.

EMPAXresults_directcontrolremedy.xls – File with the full set of
results and data for the EMPAX run for the direct control remedy
included in the proposed Transport Rule.

EMPAXresults_morestringentSO2option.xls - File with the full set of
results and data for the EMPAX run for the more stringent SO2
alternative included in the proposed Transport Rule Regulatory Impact
Analysis (RIA).

EMPAXresults_lessstringentSO2option.xls - File with the full set of
results and data for the EMPAX run for the less stringent SO2
alternative included in the proposed Transport Rule Regulatory Impact
Analysis (RIA).


[Federal Register Volume 79, Number 146 (Wednesday, July 30, 2014)]
[Notices]
[Pages 44231-44233]
[FR Doc No: 2014-17878]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72664; File No. SR-Phlx-2014-46]

Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing of Proposed Rule Change, as Modified by Amendment No. 1,
Relating to SPY and DIA Options

July 24, 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 July 9, 2014, NASDAQ OMX PHLX LLC (``Phlx'' or ``Exchange'')
filed with the Securities and Exchange Commission (``SEC'' or
``Commission'') the proposed rule change as described in Items I, II,
and III, below, which Items have been prepared by the Exchange. On July
22, 2014, the Exchange filed Amendment No. 1 to the proposal.\3\ The
Commission is publishing this notice to solicit comments on the
proposed rule change, as modified by Amendment No. 1, from interested
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ In Amendment No. 1, the Exchange modified Exhibit 1 to the
proposed rule change to make certain technical corrections and to
add additional explanation of the proposed rule change to Section
II.A.1.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend Commentary .05 to Rule 1012 (Series
of Options Open for Trading) to allow $1 or greater strike price
intervals for options on the SPDR[supreg] S&P 500[supreg] Exchange
Traded Fund (``SPY'') and the SPDR[supreg] Dow Jones[supreg] Industrial
Average Exchange Traded Fund (``DIA'').\4\
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    \4\ S&P[supreg], S&P 500[supreg], Standard & Poor's[supreg], and
SPDR[supreg] are registered trademarks of Standard & Poor's[supreg]
Financial Services LLC. Dow Jones[supreg], DJIA\SM\, and Dow Jones
Industrial Average\SM\ are registered trade and service marks of Dow
Jones[supreg] Trademark Holdings LLC.
---------------------------------------------------------------------------

    The text of the proposed rule change is available on the Exchange's
Web site at http://www.nasdaqtrader.com/micro.aspx?id=PHLXRulefilings,
at the principal office of the Exchange, and at

the Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of this proposed rule change is to amend Commentary .05
to Rule 1012 by modifying the interval setting regime for SPY and DIA
options listed on the SPDR S&P 500 Exchange Traded Fund (``ETF'') and
the SPDR Dow Jones Industrial Average ETF, respectively, to allow $1 or
greater strike price intervals.\5\ Through this filing, the Exchange
intends to make SPY and DIA options more tailored and easier for
investors and traders to use.
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    \5\ The SPDR S&P 500 ETF is based on the broad-based S&P 500
Index, and the SPDR Dow Jones Industrial Average ETF is based on the
Dow Jones Industrial Average.
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    Under current Rule 1012, the interval of strike prices of series of
options on ETFs is $1 or greater where the strike price is 200 or less
and $5 or greater where the strike price is more than 200.\6\ The
Proposal seeks to narrow those strike intervals to $1 apart for SPY and
DIA options, in effect matching the interval for these products to ETF
option strike prices at or below 200.
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    \6\ See Commentary .05(a)(iv)(A) to Rule 1012.
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    The strike prices for SPY and DIA options are approaching the 200
price point. By the end of June 2014, for example, SPY was trading at
more than $195 per share and DIA was trading at more than $168 per
share. As the option strike prices continue to appreciate, investor and
member demands to list additional SPY and DIA option series continue to
increase. SPY is the most heavily traded and liquid exchange-traded
product in the U.S., and SPY options represent 13% of the total option
volume in the U.S. and 12% of the options volume on the Exchange. DIA
options represent 11% of the options volume on the Exchange and less
than 1% of the options volume in the U.S. Moreover, the popularity of
DIA and SPY options is reflected in the fact that they have options
contracts reflecting monthly, quarterly, and weekly expiration
cycles.\7\ Not having the proposed $1 intervals above a 200 strike
price will significantly limit investors' hedging and trading
possibilities, particularly when it comes to executing strategies that
are effective in $1 intervals; and may, as a result, constrict trading
and hedging activity. The Exchange therefore proposes to amend
Commentary .05 to Rule 1012 to allow SPY and DIA options to trade in $1
increments.
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    \7\ For rules regarding quarterly options and weekly options
(also known as Short Term Options), see Commentaries .08 and .11,
respectively, to Rule 1012.
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    Specifically, the Exchange proposes to add Commentary .05(a)(iv)(C)
to state that notwithstanding any other provision regarding the
interval of strike prices of series of options on ETFs in Rule 1012,
the interval of strike prices on SPY and DIA options will be $1 or
greater. By having smaller strike intervals in SPY and DIA, investors
will have more efficient hedging and trading opportunities due to the
higher $1 interval ascension. The proposed $1 intervals, particularly
above a 200 strike price, will result in having at-the-money series
based upon the underlying SPY or DIA moving less than 1%, which falls
in line with slower price movements of a broad-based index.
Furthermore, the proposed $1 intervals will allow currently employed
option trading strategies (such as, for example, risk reduction/hedging
strategies using SPY weekly options) to remain in play. Considering
that $1 intervals already exist below the 200 price point and that SPY
and DIA are approaching the 200 level, continuing to maintain the
artificial 200 level (above which intervals increase 500%, to $5), will
have a negative effect on investing, trading and hedging opportunities
and volume. The continued demand for highly liquid options such as SPY
and DIA, and the investing, trading, and hedging opportunities they
represent, far outweighs any potential negative impact of allowing SPY
and DIA options to trade in more finely tailored intervals above a 200
price point.
    With the proposal, for example, investors and traders would be able
to roll open positions from a lower strike to a higher strike in
conjunction with the price movement of the underlying. Under the
current rule, where the next higher available series would be $5 away
above a 200 strike price, the ability to roll such positions is
effectively negated. Thus, to move a position from a 200 strike to a
205 strike under the current rule, an investor would need for the
underlying product to move 2.5%, and would not be able to execute a
roll up until such a large movement occurred. With the proposed rule
change, however, the investor would be in a significantly safer
position of being able to roll his open options position from a 200 to
a 201 strike price, which is only a 0.5% move for the underlying.
    By allowing SPY and DIA options in $1 intervals over a 200 strike
price, the proposal will moderately augment the total number of options
series available on the Exchange. However, the Exchange has analyzed
its capacity and represents that it and the Options Price Reporting
Authority (``OPRA'') have the necessary systems capacity to handle any
potential additional traffic associated with this proposed rule change.
The Exchange believes that its members will not have a capacity issue
as a result of this proposal. The Exchange also represents that it does
not believe this expansion will cause fragmentation of liquidity. The
Exchange's beliefs are supported by the limited nature of the proposal,
which applies to two symbols rather than to all ETF products. Moreover,
while under the current rule-set there is ample liquidity, it is
constricted above 200. This proposal only enhances liquidity at more
rational strike intervals necessary to benefit investors as the stock
market improves in value.
    The Exchange believes that the proposed rule change, like the other
strike price programs currently offered by the Exchange, will benefit
investors by giving them more flexibility to more closely tailor their
investment and hedging decisions by allowing SPY and DIA options to
trade in finer $1 intervals.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the requirements of the Act and the rules and regulations
thereunder that are applicable to a national securities exchange, and,
in particular, with the requirements of Section 6(b) of the Act.\8\ In
particular, the proposal is consistent with Section 6(b)(5) of the
Act,\9\ because it is designed to promote just and equitable principles
of trade, remove impediments to and perfect the mechanisms of a free
and open market

and a national market system and, in general, to protect investors and
the public interest.
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    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
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    In particular, the proposed rule change would add consistency to
the SPY and DIA options markets and allow investors to use SPY and DIA
options more easily and effectively. Moreover, the proposed rule change
would allow investors and traders, whether big or small, to better
trade and hedge positions in SPY and DIA options where the strike price
is greater than 200, and ensure that SPY and DIA options investors and
traders are not at a disadvantage simply because of the strike price.
    The Exchange also believes the proposed rule change is consistent
with Section 6(b)(1) of the Act,\10\ which provides that the Exchange
be organized and have the capacity to be able to carry out the purposes
of the Act and the rules and regulations thereunder, and the rules of
the Exchange. The rule change proposal allows the Exchange to respond
to customer demand to allow SPY and DIA options to trade in $1
intervals above a 200 strike price. The Exchange does not believe that
the proposed rule would create additional capacity issues or affect
market functionality
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78f(b)(1).
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    As noted above, ETF options trade in wider $5 intervals above a 200
strike price, whereby options at or below a 200 strike price trade in
$1 intervals. This creates a situation where contracts on the same
option class, namely SPY and DIA options, effectively may not be able
to execute certain strategies such as, for example, rolling to a higher
strike price, simply because of the arbitrary 200 strike price above
which options intervals increase by 500%. This proposal remedies the
situation by establishing an exception to the current ETF interval
regime, for SPY and DIA options only, to allow such options to trade in
$1 or greater intervals at all strike prices.
    The Exchange believes that the proposed rule change, like other
strike price programs currently offered by the Exchange, will benefit
investors by giving them increased flexibility to more closely tailor
their investment and hedging decisions. Moreover, the proposed rule
change is consistent with changes proposed by at least one other
exchange.\11\
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    \11\ See, e.g., Securities Exchange Act Release No. 72482 (June
26, 2014), 79 FR 37825 (July 2, 2014) (SR-CBOE-2014-051) (notice of
filing and immediate effectiveness modifying the strike price regime
for Mini-S&P 500 Index (XSP) options).
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    With regard to the impact of this proposal on system capacity, the
Exchange has analyzed its capacity and represents that it and OPRA have
the necessary systems capacity to handle any potential additional
traffic associated with this proposed rule change. The Exchange
believes that its members will not have a capacity issue as a result of
this proposal.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. To the contrary, the
Exchange believes that the proposed rule change will result in
additional investment options and opportunities to achieve the
investment and trading objectives of market participants seeking
efficient trading and hedging vehicles, to the benefit of investors,
market participants, and the marketplace in general. Specifically, the
Exchange believes that SPY and DIA option investors and traders will
significantly benefit from the availability of finer strike price
intervals above a 200 price point.

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

    No written comments were either solicited or received.

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

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

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change, as modified by Amendment No. 1, is consistent with the Act.
Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-Phlx-2014-46 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-Phlx-2014-46. 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-Phlx-2014-46 and should be
submitted on or before August 20, 2014.
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    \12\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-17878 Filed 7-29-14; 8:45 am]
BILLING CODE 8011-01-P