[Federal Register Volume 86, Number 87 (Friday, May 7, 2021)]
[Notices]
[Pages 24689-24691]
[FR Doc No: 2021-09643]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91740; File No. SR-ICEEU-2021-011]

Self-Regulatory Organizations; ICE Clear Europe Limited; Notice
of Filing and Immediate Effectiveness of Proposed Rule Change Relating
to Amendments to the ICE Clear Europe Delivery Procedures

May 3, 2021.
    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 28, 2021, ICE Clear Europe Limited (``ICE Clear Europe'' or
the ``Clearing House'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule changes described in
Items I, II and III below, which Items have been prepared primarily by
ICE Clear Europe. ICE Clear Europe filed the proposed rule change
pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(4)(ii)
\4\ thereunder, such that the proposed rule was immediately effective
upon filing with the Commission. 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.
    \3\ 15 U.S.C. 78s(b)(3)(a).
    \4\ 17 CFR 240.19b-4(f)(4)(ii).
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I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change

    The principal purpose of the proposed amendments is for ICE Clear
Europe to amend its Delivery Procedures (the ``Delivery Procedures'')
in connection with the addition of delivery terms relating to the Ice
Deliverable UK Emissions Contracts.\5\
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    \5\ Capitalized terms used but not defined herein have the
meaning specified in the ICE Clear Europe Clearing Rules (the
``Rules'').
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II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

    In its filing with the Commission, ICE Clear Europe 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. ICE Clear Europe has prepared summaries,
set forth in sections (A), (B), and (C) below, of the most significant
aspects of such statements.

(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

(a) Purpose
    ICE Clear Europe is proposing to amend its Delivery Procedures to
add a new Part A1 regarding delivery procedures relating to a new ICE
Deliverable UK Emissions Futures Contracts (``ICE Deliverable UK
Emissions Contracts''), which include ICE Futures UKA Auction
Contracts, ICE Futures UKA Futures Contracts and ICE Futures UKA Daily
Contracts, that would be traded on ICE Futures Europe and cleared by
ICE Clear Europe.
    Proposed Part A1 would set out the delivery specifications and
procedures for deliveries under the ICE Deliverable UK Emissions
Contracts.
    Proposed Part A1 would apply to ICE Deliverable UK Emissions
Contracts which go to physical delivery on the expiry date and provides
that deliveries under ICE Deliverable UK Emissions Contracts are
effected upon (i) in the case of Seller effecting delivery, the
completion of the transfer of the relevant UK Carbon Emissions
Allowances, or ``UKAs'', from the relevant Nominating Holding Account
of the Seller to the relevant Nominating Holding Account of the
Clearing House, and (ii) in the case of the Buyer taking delivery, the
completion of the transfer of the relevant UKAs from the Nominating
Holding Account of the Clearing House to the relevant Nominating
Holding Account of the Buyer. Such delivery takes place during the
Delivery Period for the relevant Emissions Contracts in accordance with
the ICE Futures Europe Rules. UKAs to be delivered must conform to the
specifications in ICE Futures Europe Rules and the registry through
which delivery may be made.
    Proposed Part A1 would address certain the responsibilities of the
Clearing House and relevant parties for delivery under the ICE
Deliverable UK Emissions Contracts. Routine delivery of ICE UKA Auction
Contracts would be based on submission of delivery intentions via the
Clearing House ECS system.
    Proposed Part A1 would further specify the pricing for delivery
under

the ICE Deliverable UK Emissions Contracts and the method for
calculation of invoices. The amendments would include delivery
timetables, which would distinguish between ICE UKA Futures Contracts,
the ICE UKA Daily Futures Contracts and the ICE UKA Auction Contracts.
The timetables would each include a detailed timeframe for submission
of Registry Account Details, submission of delivery intentions,
submission of Transfer Requests to the relevant registry, payment and
release of delivery Margin (if relevant), payment and other matters.
Delivery timetables would also be set out for late and failed
deliveries.
    Proposed Part A1 would also detail limitation of liability for the
Clearing House. The Clearing House would not be liable as a result of
the performance or non-performance of any Auction Seller, Auction
Monitor, Administrator, GG ETS Regulator, Governmental Authority,
Registry or UK Transaction Log, the validity of any UKA for purposes of
meeting the requirements of the Scheme, any act or omission of any
operator the Registry or UK Transaction Log or Authorised
Representative of any other party, among other matters.
    In addition, Proposed Part A1 would address the posting of EFPs and
EFSs in respect of the ICE UKA Futures Contracts. Finally, Proposed
Part A1 would also address an alternative delivery procedure in the
event of a transfer request failure relating to ICE Deliverable UK
Emissions Contracts other than the ICE UKA Auction Contract, pursuant
to which a Clearing Member may seek agreement of the Clearing House to
make or take delivery beyond the point of failure on terms other than
those required under ICE Futures Europe Rules.
(b) Statutory Basis
    Section 17A(b)(3)(F) of the Act \6\ requires, among other things,
that the rules of a clearing agency be designed to promote the prompt
and accurate clearance and settlement of securities transactions and,
to the extent applicable, derivative agreements, contracts, and
transactions, the safeguarding of securities and funds in the custody
or control of the clearing agency or for which it is responsible, and
the protection of investors and the public interest. The proposed
amendments are designed to facilitate the clearing of a new physically
settled UK emissions contracts that are being launched for trading by
the ICE Futures Europe exchange. The amendments would set out the
obligations and roles of Clearing Members and the Clearing House. ICE
Clear Europe believes that its financial resources, risk management,
systems and operational arrangements are sufficient to support clearing
of such contract (and to address physical delivery under such contract)
and to manage the risks associated with such contract. As a result, in
ICE Clear Europe's view, the amendments would be consistent with the
prompt and accurate clearance and settlement of the Contract as set out
in the proposed Delivery Procedures amendments, and the protection of
investors and the public interest consistent with the requirements of
Section 17A(b)(3)(F) of the Act.\7\ (In ICE Clear Europe's view, the
amendments would not affect the safeguarding of funds or securities in
the custody or control of the clearing agency or for which it is
responsible, within the meaning of Section 17A(b)(3)(F).\8\)
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    \6\ 15 U.S.C. 78q-1(b)(3)(F).
    \7\ 15 U.S.C. 78q-1(b)(3)(F).
    \8\ 15 U.S.C. 78q-1(b)(3)(F).
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    In addition, Rule 17Ad-22(e)(10) \9\ requires that each covered
clearing agency establish and maintain transparent written standards
that state its obligations with respect to the delivery of physical
instruments, and establish and maintain operational practices that
identify, monitor and manage the risks associated with such physical
deliveries. As discussed above, the amendments to the Delivery
Procedures relating to the delivery and settlement under the ICE
Deliverable UK Emissions Contracts and ICE Futures Europe exchange
contract terms would set out the obligations and roles of Clearing
Members and the Clearing House. The amendments would also adopt
relevant procedures for such deliveries, which would facilitate
identifying, monitoring and managing risks associated with delivery.
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    \9\ 17 CFR 240.17Ad-22(e)(10).
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(B) Clearing Agency's Statement on Burden on Competition

    ICE Clear Europe does not believe the proposed rule changes would
have any impact, or impose any burden, on competition not necessary or
appropriate in furtherance of the purposes of the Act. The changes are
being proposed in order to update the Delivery Procedures in connection
with the listing of the ICE Deliverable UK Emissions Contracts on the
ICE Futures Europe market. ICE Clear Europe believes that such
contracts would provide opportunities for interested market
participants to engage in trading activity in the UK emissions market.
ICE Clear Europe does not believe the amendments would adversely affect
competition among Clearing Members, materially affect the cost of
clearing, adversely affect access to clearing in Contracts for Clearing
Members or their customers, or otherwise adversely affect competition
in clearing services. Accordingly, ICE Clear Europe does not believe
that the amendments would impose any impact or burden on competition
that is not appropriate in furtherance of the purpose of the Act.

(C) Clearing Agency's Statement on Comments on the Proposed Rule Change
Received From Members, Participants or Others

    Written comments relating to the proposed amendments have not been
solicited or received by ICE Clear Europe. ICE Clear Europe will notify
the Commission of any comments received with respect to the proposed
rule change.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \10\ and paragraph (f) of Rule 19b-4 \11\
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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    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 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-ICEEU-2021-011 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-ICEEU-2021-011. 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
such filings will also be available for inspection and copying at the
principal office of ICE Clear Europe and on ICE Clear Europe's website
at https://www.theice.com/clear-europe/regulation.
    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-ICEEU-2021-011 and should be
submitted on or before May 28, 2021.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-09643 Filed 5-6-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 87, Number 189 (Friday, September 30, 2022)]
[Proposed Rules]
[Pages 59370-59372]
[FR Doc No: 2022-21192]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R05-OAR-2021-0640; FRL-10117-01-R5]

Air Plan Approval; Indiana; Revisions to Particulate Matter
Rules; Vertellus

AGENCY: Environmental Protection Agency (EPA).

ACTION: Proposed rule.

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SUMMARY: The Environmental Protection Agency (EPA) is proposing to
approve a revision to the Indiana particulate matter State
Implementation Plan (SIP) for the Vertellus Agriculture and Nutrition
Specialties, LLC (Vertellus) facility located in Indianapolis, Marion
County. Indiana submitted a request to revise its particulate matter
SIP to incorporate site-specific updates to the particulate matter
emission limits for Vertellus. The updates reflect revised emission
rates for particulate matter resulting from process changes related to
control strategies for other pollutants. The SIP submission requests
also remove units no longer in operation as well as update language to
reflect a switch from petroleum oil to natural gas for certain units.
These site-specific SIP submissions represent a decrease in overall
particulate matter emissions. Therefore, EPA is proposing to approve
them as SIP-strengthening measures.

DATES: Comments must be received on or before October 31, 2022.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-R05-
OAR-2021-0640 at https://www.regulations.gov, or via email to
[email protected]. For comments submitted at Regulations.gov,
follow the online instructions for submitting comments. Once submitted,
comments cannot be edited or removed from Regulations.gov. For either
manner of submission, EPA may publish any comment received to its
public docket. Do not submit electronically any information you
consider to be Confidential Business Information (CBI) or other
information whose disclosure is restricted by statute. Multimedia
submissions (audio, video, etc.) must be accompanied by a written
comment. The written comment is considered the official comment and
should include discussion of all points you wish to make. EPA will
generally not consider comments or comment contents located outside of
the primary submission (i.e. on the web, cloud, or other file sharing
system). For additional submission methods, please contact the person
identified in the FOR FURTHER INFORMATION CONTACT section. For the full
EPA public comment policy, information about CBI or multimedia
submissions, and general guidance on making effective comments, please
visit https://www2.epa.gov/dockets/commenting-epa-dockets.

FOR FURTHER INFORMATION CONTACT: Alisa Liu, Environmental Engineer,
Control Strategies Section, Air Programs Branch (AR18J), Environmental
Protection Agency, Region 5, 77 West Jackson Boulevard, Chicago,
Illinois 60604,<PHONE_NUMBER>, [email protected]. The EPA Region 5
office is open from 8:30 a.m. to 4:30 p.m., Monday through Friday,
excluding Federal holidays and facility closures due to COVID-19.

SUPPLEMENTARY INFORMATION: Throughout this document whenever ``we,''
``us,'' or ``our'' is used, we mean EPA.

I. Background

    On September 16, 2021, the Indiana Department of Environmental
Management (IDEM) submitted a request to revise its particulate matter
SIP. On January 4, 2022, IDEM submitted a supplemental letter and
technical support document with supporting information. The requested
SIP revisions would incorporate updates to Indiana's particulate matter
rules for Vertellus at 326 Indiana Administrative Code (IAC), Title
326, Article 6.5, Rule 6. Marion County, ``Vertellus Agriculture &
Nutrition Specialties LLC'' (326 IAC 6.5-6-31), which became effective
on September 19, 2021. (Indiana Rule LSA #19-82)
    Vertellus is a chemical manufacturing company that currently
operates six boilers, six heaters, and six furnaces at their facility
on Tibbs Avenue on the southwest side of Indianapolis. The facility is
located within the Wayne Township, Marion County portion of the
Indianapolis maintenance area for the 2010 1-hour sulfur dioxide
(SO2) National Ambient Air Quality Standard (NAAQS). As part
of its attainment demonstration for the 2010 SO2 NAAQS,
Indiana adopted new SO2 emissions limits at 326 IAC 7-4-
2.1(a)(4) that took effect on January 1, 2017. Compliance with the new
SO2 limits necessitated process changes at Vertellus that
determined which units were discontinued and which fuels were burned,
resulting in the need for the adjustments to the particulate matter
emission limits at 326 IAC 6.5-6-31.
    The particulate matter limits currently in the SIP were established
as part of the attainment demonstration for the Indianapolis, Indiana
2010 SO2 nonattainment area. By way of background, the
Indianapolis, Indiana area consisting of Center, Perry and Wayne
Townships in Marion County was designated nonattainment for the 2010
SO2 NAAQS under Subpart 107 of the Clean Air Act (CAA) on
July 25, 2013, when EPA made its initial designations based upon air
quality monitoring data for calendar years 2009-2011. The area
designation was effective October 4, 2013. 78 FR 47191 (August 5,
2013). Within 18 months of the effective date, i.e., by April 4, 2015,
Indiana was required under CAA sections 191(a) and 192(a) to submit a
nonattainment SIP to EPA that demonstrated that the Indianapolis area
would attain the NAAQS as expeditiously as practicable, but no later
than 5 years from the effective date of designation, which was October
4, 2018. 83 FR 4087 (August 15, 2018).
    On October 2, 2015, Indiana submitted an attainment plan for the
Indianapolis nonattainment area as a revision to Indiana's SIP for
attaining the 2010 SO2 NAAQS. The attainment plan included
an attainment demonstration and technical support document \1\ prepared
by IDEM that addressed six sources of SO2 in Marion County,
including Vertellus. Using dispersion modeling, Indiana demonstrated
that air quality meeting the 2010 SO2 NAAQS would be
attained with revised SO2 emission limits for the six
sources, which Indiana adopted on September 2, 2015 into 326 IAC 7-4-
2.1, including limits for Vertellus at 326 IAC 7-4-2.1(a)(4). The
revised emission limits took effect on January 1, 2017. On March 11,
2019, EPA approved the SIP revisions that Indiana submitted on October
2, 2015 for attaining the 2010 SO2 NAAQS for the
Indianapolis area. 84 FR 10692 (March 22, 2019).
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    \1\ August 2015, ``1-Hour Sulfur Dioxide Attainment
Demonstration and Technical Support Document for Central, West
Central, and Southwest Indiana Nonattainment Areas''. Prepared by
Indiana Department of Environmental Management, Office of Air
Quality. EPA-R05-OAR-2015-0700-0003.
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    On July 10, 2017, IDEM submitted a redesignation request and
maintenance plan. On April 24, 2020, EPA redesignated the Indianapolis
area to attainment of the 2010 SO2 NAAQS and approved the
maintenance plan. 85 FR 30844 (May 21, 2020).

II. What has Indiana revised in 326 IAC 6.5-6-31?

    On May 3, 2018, Vertellus requested IDEM revise its particulate
matter emission limits at 326 IAC 6.5-6-31 for its units that were
impacted by the revised SO2 emission limits at 326 IAC 7-4-
2.1(a)(4). IDEM initiated a first notice and comment period for
rulemaking to revise 326 IAC 6.5-6-31 on February 13, 2019, and
published the final rule on September 15, 2021. As requested by
Vertellus, IDEM's revisions changed the particulate matter emission
limits on several units where Vertellus made process and fuel changes
to comply with the revised SO2 emission limits.
Additionally, the revisions removed limits and references to units

at the facility that are no longer operating or were demolished.
    The revisions at 326 IAC 6.5-6-31 also updated existing language
and added new language related to the types of fuel burned in certain
units. Part of Indiana's SO2 control strategy in the
Indianapolis area was to restrict the usage of petroleum oil burned at
several Vertellus units, so the adopted revisions at 326 IAC 6.5-6-31
reflect a switch to 100 percent natural gas for certain units and only
natural gas or landfill gas for certain other units. Compared to
petroleum oil, burning natural gas at these units reduces
SO2 emissions, enables Vertellus to remain in compliance
with the new SO2 emission limits, and ensures continued
attainment of the 2010 SO2 NAAQS. The process changes that
determined which units were discontinued and which fuels were burned
resulted in the need for increases in particulate matter mass and rate-
based emission limits for some of the Vertellus units and decreases for
other units.

III. What are the environmental effects of this action?

    This SIP revision will result in a reduction in allowable
particulate matter annual mass emissions and have a strengthening
effect on the SIP by reducing emission limits, switching fuels to
natural gas, reducing the amount of landfill gas burned, and removing
allowable emissions listed for units that are no longer used or were
demolished.
    Vertellus projected that the rule revisions will reduce particulate
matter emissions by 14.1 tons per year compared to the emissions
allowed under Indiana's current SIP. To address section 110(l) of the
CAA, the technical support document details the decrease in allowable
particulate matter emission from 38.0 to 23.9 tons per year as a result
of a decrease of 14.8 tons per year total from twelve units offset by
an increase of 0.7 tons per year total from 4 units.
    To demonstrate that any increase in particulate emission limits
allowed under revised 326 IAC 6.5-6.31 would still be protective of the
NAAQS for particulate matter less than 2.5 and 10 microns in diameter
(PM2.5, PM10), Indiana performed dispersion
modeling using AERMOD version 18081. Based on a comparison of allowable
particulate matter emissions from the current limits compared to the
revised limits, IDEM's modeling showed decreased emission
concentrations at each of the modeled receptors. EPA has reviewed
IDEM's modeling and projected emission reductions and finds that IDEM
demonstrated that the SIP revision will not have an adverse impact on
particulate matter air quality or interfere with the attainment or
maintenance of the SO2 NAAQS in accordance with section
110(l) of the CAA.

IV. Public Comment and Hearings

    Indiana offered two comment periods on this proposed rule. The
first was from February 13, 2019, to March 15, 2019, and the second was
from February 12, 2020, through March 13, 2020. No comments were
received during the first or second comment period. Indiana also held
public hearings on November 18, 2020, and February 10, 2021, through an
online platform. No comments were made during the hearings.

V. What action is EPA taking?

    EPA is proposing to approve Indiana's September 16, 2021, request
to revise its particulate matter SIP because the revised rule at 326
IAC 6.5-6-31 applicable to Vertellus strengthens the SIP by reducing
allowable particulate matter emissions.

VI. Incorporation by Reference

    In this proposed rule, EPA is proposing to include in a final EPA
rule regulatory text that includes incorporation by reference. In
accordance with requirements of 1 CFR 51.5, EPA is proposing to
incorporate by reference revisions to Indiana rule 326 IAC 6.5-6-31,
effective September 20, 2021, discussed in section II of this preamble.
EPA has made, and will continue to make, these documents generally
available through www.regulations.gov and at the EPA Region 5 Office
(please contact the person identified in the FOR FURTHER INFORMATION
CONTACT section of this preamble for more information).

VII. Statutory and Executive Order Reviews

    Under the CAA the Administrator is required to approve a SIP
submission that complies with the provisions of the CAA and applicable
Federal regulations. 42 U.S.C. 7410(k); 40 CFR 52.02(a). Thus, in
reviewing SIP submissions, EPA's role is to approve state choices,
provided that they meet the criteria of the CAA. Accordingly, this
action merely approves state law as meeting Federal requirements and
does not impose additional requirements beyond those imposed by state
law. For that reason, this action:
     Is not a significant regulatory action subject to review
by the Office of Management and Budget under Executive Orders 12866 (58
FR 51735, October 4, 1993) and 13563 (76 FR 3821, January 21, 2011);
     Does not impose an information collection burden under the
provisions of the Paperwork Reduction Act (44 U.S.C. 3501 et seq.);
     Is certified as not having a significant economic impact
on a substantial number of small entities under the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.);
     Does not contain any unfunded mandate or significantly or
uniquely affect small governments, as described in the Unfunded
Mandates Reform Act of 1995 (Pub. L. 104-4);
     Does not have federalism implications as specified in
Executive Order 13132 (64 FR 43255, August 10, 1999);
     Is not an economically significant regulatory action based
on health or safety risks subject to Executive Order 13045 (62 FR
19885, April 23, 1997);
     Is not a significant regulatory action subject to
Executive Order 13211 (66 FR 28355, May 22, 2001);
     Is not subject to requirements of Section 12(d) of the
National Technology Transfer and Advancement Act of 1995 (15 U.S.C. 272
note) because application of those requirements would be inconsistent
with the CAA; and
     Does not provide EPA with the discretionary authority to
address, as appropriate, disproportionate human health or environmental
effects, using practicable and legally permissible methods, under
Executive Order 12898 (59 FR 7629, February 16, 1994).
    In addition, the SIP is not approved to apply on any Indian
reservation land or in any other area where EPA or an Indian tribe has
demonstrated that a tribe has jurisdiction. In those areas of Indian
country, the proposed rule does not have tribal implications and will
not impose substantial direct costs on tribal governments or preempt
tribal law as specified by Executive Order 13175 (65 FR 67249, November
9, 2000).

List of Subjects in 40 CFR Part 52

    Environmental protection, Air pollution control, Incorporation by
reference, Intergovernmental relations, Particulate matter, Reporting
and recordkeeping requirements, Sulfur oxides.

    Dated: September 22, 2022.
Debra Shore,
Regional Administrator, Region 5.
[FR Doc. 2022-21192 Filed 9-29-22; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 81, Number 189 (Thursday, September 29, 2016)]
[Notices]
[Pages 67046-67047]
[FR Doc No: 2016-23563]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Notice of Submission Deadline for Schedule Information for
Chicago O'Hare International Airport, John F. Kennedy International
Airport, Los Angeles International Airport, Newark Liberty
International Airport, and San Francisco International Airport for the
Summer 2017 Scheduling Season

AGENCY: Department of Transportation, Federal Aviation Administration
(FAA).

ACTION: Notice of submission deadline.

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SUMMARY: Under this notice, the FAA announces the submission deadline
of October 6, 2016, for summer 2017 flight schedules at Chicago O'Hare
International Airport (ORD), John F. Kennedy International Airport
(JFK), Los Angeles International Airport (LAX), Newark Liberty
International Airport (EWR), and San Francisco International Airport
(SFO), in accordance with the International Air Transport Association
(IATA) Worldwide Slot Guidelines (WSG). The deadline coincides with the
schedule submission deadline for the IATA Slot Conference for the
summer 2017 scheduling season.

DATES: Schedules must be submitted no later than October 6, 2016.

ADDRESSES: Schedules may be submitted by mail to the Slot
Administration Office, AGC-200, Office of the Chief Counsel, 800
Independence Avenue SW., Washington, DC 20591; facsimile:<PHONE_NUMBER>;
or by email to<EMAIL_ADDRESS>
FOR FURTHER INFORMATION CONTACT: Susan Pfingstler, System Operations
Services, Air Traffic Organization, Federal Aviation Administration,
600 Independence Avenue SW., Washington, DC 20591; telephone number:
202-267-6462; email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The FAA has designated EWR, LAX, ORD, and
SFO as IATA Level 2 airports and JFK as an IATA Level 3 airport. The
FAA currently limits scheduled operations at JFK by Order until October
27, 2018.\1\
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    \1\ Operating Limitations at John F. Kennedy International
Airport, 73 FR 3510 (Jan. 18, 2008) as amended 81 FR 32636 (May 24,
2016).
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    The FAA is primarily concerned about scheduled and other regularly
conducted commercial operations during peak hours, but carriers may
submit schedule plans for the entire day. At ORD, the peak hours are
0700 to 2100 Central Time (1200 to 0200 UTC), at LAX and SFO from 0600
to 2300 Pacific Time (1300 to 0600 UTC), and at EWR and JFK from 0600
to 2300 Eastern Time (1000 to 0300 UTC). Carriers should submit
schedule information in sufficient detail, including, at minimum, the
operating carrier, flight number, scheduled time of operation,
frequency, and effective dates. IATA standard schedule information
format and data elements (Standard Schedules Information Manual or
SSIM, Chapter 6) may be used. The WSG provides additional information
on schedule submissions and updates at Level 2 and Level 3 airports.
    The U.S. summer scheduling season for these airports is from March
26 through October 28, 2017, in recognition of the IATA northern summer
period. The FAA understands there may be differences in schedule times
due to different U.S. daylight saving time dates and will accommodate
these differences to the extent possible.
    JFK will have construction in 2017 on Runway 4R/22L for
rehabilitation of pavement, widening of certain taxiways, new high
speed taxiways, drainage system upgrades, and electrical light

systems replacement. The Port Authority of New York and New Jersey
(PANYNJ), the airport operator, plans to conduct the construction in
three phases in order to minimize operational impacts during the
busiest summer months of June through August. Phase I anticipates a
full closure of Runway 4R/22L, currently scheduled from February 27 to
June 1, 2017. Phase II anticipates closures nightly from 0400 to 1100
UTC from June 1 to September 4, 2017, followed by Phase III with a full
Runway 4R/22L closure planned from September 5 to November 17, 2017.
The FAA and the PANYNJ are working together to minimize operational
disruptions to the extent possible. The FAA is also continuing to
review alternative runway configurations and procedures and modeling
potential capacity and delay impacts. Regular meetings are conducted
with the FAA, PANYNJ, and airline station and other staff, and may be
the best source of project updates and impacts.
    LAX will undergo construction on Runway 7L/25R for runway safety
areas and rehabilitation in 2017. Los Angeles World Airports (LAWA),
the airport operator, will close the runway for approximately four
months from January to May 2017. The final dates have not been
determined at this time. LAWA conducts monthly meetings on construction
updates with FAA local air traffic control and airline representatives.
Such meetings may be the best source of project updates and impacts.
    The FAA will use hourly runway capacity throughput for the Level 2
airports in its schedule reviews, considering any differences
associated with runway construction or other operational factors. The
FAA will also review the operational performance metrics at the
airports for the summer 2016 scheduling season as additional data
become available.
    EWR is transitioning from Level 3 limitations under the FAA Order
to a Level 2 designation effective with the winter 2016 scheduling
season.\2\ In reviewing schedules, the FAA will consider the recent
operational performance metrics, delay projections when the Level 3
scheduling limits were adopted in 2008, and the scheduled flight levels
the FAA accepted under the 2008 Order. Based on current and projected
demand for the summer 2017 scheduling season, the FAA anticipates the
0700 to 0859 and 1400-2059 Eastern Time (1100 to 1259 and 1800 to 0059
UTC) hours will be the highest demand periods and not all requests are
likely to be accommodated during these times. Carriers should be
prepared to adjust schedules to meet available capacity in order to
minimize potential congestion and delay.
---------------------------------------------------------------------------

    \2\ Operating Limitations at Newark Liberty International
Airport, 73 FR 29550 (May 21, 2008) as amended 79 FR 16857 (Mar. 26,
2014). Change in Newark Liberty International Airport Designation,
81 FR 19861 (April 6, 2016).
---------------------------------------------------------------------------

    Each Level 2 airport also has a separate process adopted by the
airport operator for certain types of flights, such as international
passenger flights, or at particular terminals or gates. Those processes
with the individual airports or terminals will continue separately from
and in addition to the FAA review of schedules based on runway
capacity. However, in conjunction with the schedule facilitators for
terminal operations at those airports, the FAA may consider the need to
harmonize terminal and runway availability in the schedule review
process.

    Issued in Washington, DC, on September 23, 2016.
Daniel E. Smiley,
Vice President, System Operations Services.
[FR Doc. 2016-23563 Filed 9-28-16; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register Volume 80, Number 146 (Thursday, July 30, 2015)]
[Notices]
[Page 45525]
[FR Doc No: 2015-18478]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER15-2191-000]

Grant Wind, LLC; Supplemental Notice That Initial Market-Based
Rate Filing Includes Request for Blanket Section 204 Authorization

    This is a supplemental notice in the above-referenced proceeding of
Grant Wind, LLC's application for market-based rate authority, with an
accompanying rate tariff, noting that such application includes a
request for blanket authorization, under 18 CFR part 34, of future
issuances of securities and assumptions of liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street NE., Washington,
DC 20426, in accordance with Rules 211 and 214 of the Commission's
Rules of Practice and Procedure (18 CFR 385.211 and 385.214). Anyone
filing a motion to intervene or protest must serve a copy of that
document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability, is August 10, 2015.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with Internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically should submit an original and
5 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First Street NE., Washington, DC 20426.
    The filings in the above-referenced proceeding are accessible in
the Commission's eLibrary system by clicking on the appropriate link in
the above list. They are also available for electronic review in the
Commission's Public Reference Room in Washington, DC. There is an
eSubscription link on the Web site that enables subscribers to receive
email notification when a document is added to a subscribed docket(s).
For assistance with any FERC Online service, please email
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.

    Dated: July 21, 2015.
Kimberly D. Bose,
Secretary.
[FR Doc. 2015-18478 Filed 7-29-15; 8:45 am]
BILLING CODE 6717-01-P


	ENVIRONMENTAL PROTECTION AGENCY

	40 CFR Part 52

	[EPA-R03-OAR-2010-0039; FRL-        ]

Approval and Promulgation of Air Quality Implementation Plans; Delaware;

Control of Nitrogen Oxide Emissions from Industrial Boilers and Process
Heaters at Petroleum Refineries

AGENCY:  Environmental Protection Agency (EPA).

ACTION:  Proposed rule.

SUMMARY:  EPA is proposing to approve a State Implementation Plan (SIP)
revision submitted by the State of Delaware.  The revision adds a new
section, Section 2 – Control of Nitrogen Oxide Emissions from
Industrial Boilers and Process Heaters at Petroleum Refineries to
Delaware’s Regulation No. 1142/SIP Regulation No. 42– Specific
Emission Control Requirements for controlling nitrogen oxide (NOx)
emissions from industrial boilers.  This action is being taken under the
Clean Air Act (CAA).

DATES: Written comments must be received on or before [insert date 30
days from date of publication].

ADDRESSES:  Submit your comments, identified by Docket ID Number
EPA-R03-OAR-2010-0039 by one of the following methods:

A.    HYPERLINK "http://www.regulations.gov"  www.regulations.gov .
Follow the on-line instructions for submitting comments.

B.  E-mail:    HYPERLINK<EMAIL_ADDRESS><EMAIL_ADDRESS>
C.  Mail:  EPA-R03-OAR-2010-0039, Cristina Fernandez, Office of Air
Program Planning, Mailcode 3AP30, U.S. Environmental Protection Agency,
Region III, 1650 Arch Street, Philadelphia, Pennsylvania 19103.

D.  Hand Delivery: At the previously-listed EPA Region III address.
Such deliveries are only accepted during the Docket’s normal hours of
operation, and special arrangements should be made for deliveries of
boxed information.

Instructions:  Direct your comments to Docket ID No.
EPA-R03-OAR-2010-0039.  EPA's policy is that all comments received will
be included in the public docket without change, and may be made
available online at www.regulations.gov, including any personal
information provided, unless the comment includes information claimed to
be Confidential Business Information (CBI) or other information whose
disclosure is restricted by statute. Do not submit information that you
consider to be CBI or otherwise protected through www.regulations.gov or
e-mail.  The www.regulations.gov website is an “anonymous access”
system, which means EPA will not know your identity or contact
information unless you provide it in the body of your comment.  If you
send an e-mail comment directly to EPA without going through
www.regulations.gov, your e-mail address will be automatically captured
and included as part of the comment that is placed in the public docket
and made available on the Internet.  If you submit an electronic
comment, EPA recommends that you include your name and other contact
information in the body of your comment and with any disk or CD-ROM you
submit.  If EPA cannot read your comment due to technical difficulties
and cannot contact you for clarification, EPA may not be able to
consider your comment.  Electronic files should avoid the use of special
characters, any form of encryption, and be free of any defects or
viruses.

Docket:  All documents in the electronic docket are listed in the
www.regulations.gov index. Although listed in the index, some
information is not publicly available, i.e., CBI or other information
whose disclosure is restricted by statute.  Certain other material, such
as copyrighted material, is not placed on the Internet and will be
publicly available only in hard copy form.  Publicly available docket
materials are available either electronically in www.regulations.gov or
in hard copy during normal business hours at the Air Protection
Division, U.S. Environmental Protection Agency, Region III, 1650 Arch
Street, Philadelphia, Pennsylvania 19103.  Copies of the State submittal
are available at the Delaware Department of Natural Resources &
Environmental Control, 89 Kings Highway, P.O. Box 1401, Dover, Delaware
19901.

FOR FURTHER INFORMATION CONTACT:  Gregory Becoat,<PHONE_NUMBER>, or by
e-mail at   HYPERLINK<EMAIL_ADDRESS><EMAIL_ADDRESS>.

SUPPLEMENTARY INFORMATION:

I.  Background

On November 17, 2009, the Delaware Department of Natural Resources and
Environmental Control (DNREC) submitted a revision to its SIP for an
amendment to Regulation No. 1142/SIP Regulation No. 42 – Specific
Emission Control Requirements.  This SIP revision added a new section,
Section 2 – Control of Nitrogen Oxide Emissions from Industrial
Boilers and Process Heaters at Petroleum Refineries.  The regulation was
adopted in order to require new and/or additional controls on industrial
boilers and process heaters with heat input capacities of equal to or
greater than 200 million British thermal units per hour (mmBTU/hr) at
petroleum refining facilities and to help Delaware attain and maintain
the national ambient air quality standards (NAAQS) for the 1997 8-hour
ozone standard by 2010.

II.   Summary of SIP Revision

Regulation No.1142/SIP Regulation No. 42 establishes applicability and
compliance dates to any industrial boiler or process heater with a
maximum heat input capacity of equal to or greater than 200 mmBTU/hr,
which is operated or permitted to operate within a petroleum refinery
facility (except for any Fluid Catalytic Cracking Unit carbon monoxide
(CO) boiler).  Regulation No.1142/SIP Regulation No. 42 establishes NOx
emission limitations for any industrial boiler or process heater with a
maximum heat input capacity of equal to or greater than 200 mmBTU/hr,
which is operated or permitted to operate within a petroleum refinery
facility.  The regulation also requires compliance with monitoring,
recordkeeping, and reporting requirements.

III.   Proposed Action

EPA is proposing to approve the amendment to Delaware’s SIP revision
Regulation No. 1142/SIP Regulation No. 42 – Specific Emission Control
Requirements submitted on November 17, 2009.  This regulation will help
to reduce NOx emissions from Delaware’s large industrial boilers and
process heaters that are located at petroleum refineries and help
Delaware attain and maintain the NAAQS for the 1997 8-hour ozone
standard by 2010.  EPA is soliciting public comments on the issues
discussed in this document.  These comments will be considered before
taking final action.

IV. Statutory and Executive Order Reviews

Under the Clean Air Act, the Administrator is required to approve a SIP
submission that complies with the provisions of the Act and applicable
Federal regulations.  42 U.S.C. 7410(k);  40 CFR 52.02(a).  Thus, in
reviewing SIP submissions, EPA’s role is to approve state choices,
provided that they meet the criteria of the Clean Air Act.  Accordingly,
this action merely proposes to approve state law as meeting Federal
requirements and does not impose additional requirements beyond those
imposed by state law.  For that reason, this proposed action:

is not a "significant regulatory action” subject to review by the
Office of Management and Budget under Executive Order 12866 (58 FR
51735, October 4, 1993);

does not impose an information collection burden under the provisions of
the Paperwork Reduction Act (44 U.S.C. 3501 et seq.);

is certified as not having a significant economic impact on a
substantial number of small entities under the Regulatory Flexibility
Act (5 U.S.C. 601 et seq.);

does not contain any unfunded mandate or significantly or uniquely
affect small governments, as described in the Unfunded Mandates Reform
Act of 1995 (Public Law 104-4);

does not have Federalism implications as specified in Executive Order
13132 (64 FR 43255, August 10, 1999);

is not an economically significant regulatory action based on health or
safety risks subject to Executive Order 13045 (62 FR 19885, April 23,
1997);

is not a significant regulatory action subject to Executive Order 13211
(66 FR 28355, May 22, 2001);

is not subject to requirements of Section 12(d) of the National
Technology Transfer and Advancement Act of 1995 (15 U.S.C. 272 note)
because application of those requirements would be inconsistent with the
Clean Air Act; and

does not provide EPA with the discretionary authority to address, as
appropriate, disproportionate human health or environmental effects,
using practicable and legally permissible methods, under Executive Order
12898 (59 FR 7629, February 16, 1994).

In addition, this proposed rule, pertaining to Delaware’s amendment to
add a new section, Section 2 – Control of Nitrogen Oxide Emissions
from Industrial Boilers and Process Heaters at Petroleum Refineries to
Regulation No. 1142/SIP Regulation No. 42 – Specific Emission Control
Requirements, does not have tribal implications as specified by
Executive Order 13175 (65 FR 67249, November 9, 2000), because the SIP
is not approved to apply in Indian country located in the state, and EPA
notes that it will not impose substantial direct costs on tribal
governments or preempt tribal law.

List of Subjects in 40 CFR Part 52

Environmental protection, Air pollution control, Nitrogen dioxide,
Ozone, Particulate matter, Reporting, and recordkeeping requirements.

Authority: 42 U.S.C. 7401 et seq.

           W. C. Early, Acting

__February 25, 2010___________           		_Regional
Administrator________

Dated:                                                     		Shawn M.
Garvin,

Regional Administrator,

Region III.

 PAGE

 PAGE   2

 PAGE  6


[Federal Register: August 11, 2008 (Volume 73, Number 155)]
[Notices]
[Page 46654-46655]
[DOCID:fr11au08-112]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-58307; File No. SR-CBOE-2008-79]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change Related to the Automated Improvement Mechanism

August 5, 2008.
    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 30, 2008, the Chicago Board Options Exchange, Incorporated
(``CBOE'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I, II, and III below, which Items have been prepared by the
Exchange. The Exchange filed the proposal as a ``non-controversial''
proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act
\3\ and Rule 19b-4(f)(6) thereunder,\4\ which renders it effective upon
filing with the Commission. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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

    The Exchange proposes to modify its Automated Improvement Mechanism
(``AIM'') in order to (i) give the Exchange the flexibility to lower
the applicable crossing entitlement percentage on a class-by-class
basis, and (ii) clarify that AIM can be made available in Hybrid 3.0
classes. The text of the proposed rule change is available on the
Exchange's Web site (www.cboe.org/Legal), at the Exchange's Office of
the Secretary and at the Commission.

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

    In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of and basis for the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of 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
    Under the AIM auction process, a member that represents agency
orders may submit an order it represents as agent (``Agency Order'')
along with a second order (a principal order or a solicited order for
the same amount as the Agency Order) into the AIM auction where other
participants could compete with the submitting member's second order to
execute against the Agency Order. The Exchange is proposing to modify
the AIM rule in order to provide the Exchange with the ability to
determine the applicable crossing entitlement percentage afforded to
the members initiating AIM executions (``Initiating Members'').
Currently the crossing entitlement percentage is fixed at the
following:
     If the best price equals the Initiating Member's single-
price submission, the Initiating Member's single-price submission shall
be allocated the greater of one contract or 40% of the order. However,
if only one Market-Maker matches the Initiating Member's single price
submission then the Initiating Member shall be allocated 50% of the
order.
     If the Initiating Member selected the auto-match option of
AIM, the Initiating Member shall be allocated its full size at each
price point until a price point is reached where the balance of the
order can be fully executed. At such price point, the Initiating Member
shall be allocated the greater of one contract or 40% of the remainder
of the order.

Under the proposed rule change, the Exchange may determine the
applicable crossing entitlement percentage on a class-by-class basis,
provided that the percentage cannot exceed 40% (or, in a scenario
involving a single price submission and only one other Market-Maker
matching that price, 50%). This change would therefore allow the
Exchange to set a lower crossing entitlement percentage than what is
currently permitted under the rule. Any such changes to the entitlement
percentage for a given class would be announced by circular.
    The Exchange believes that the ability to set a lower entitlement
percentage for AIM does not present any new, unique or substantive
issues because various other rules already permit the Exchange to
modify the applicable crossing entitlement percentage on a class-by-
class basis. For example, paragraph (d) of Rule 6.74, Crossing Orders,
permits the applicable crossing entitlement percentage for crossing
orders in open outcry to be established on a class-by-class basis.
    In addition, the Exchange wants to take this opportunity to clarify
that the Exchange can determine to make AIM available in Hybrid 3.0
classes. Currently, the rule provides that an AIM auction can be
initiated in classes designated by the Exchange as eligible. This could
include, for example, classes trading on the Exchange's Hybrid Trading
System and Hybrid 3.0 Platform.\5\ The rule also provides that there
must be at least three Market-Makers quoting in the relevant series for
an AIM auction to begin (the ``three quoter requirement'').\6\ In
Hybrid 3.0 classes, since only a single quoter may submit an electronic
quote (whether submitted electronically or as manual quote) that is
disseminated on behalf of the Market-Maker quoting interest in the
trading crowd, the Exchange is herein clarifying that the three quoter
requirement is satisfied as long as there are at least three Market-
Makers present in the trading crowd for the particular class on behalf
of whom the single quoter is representing the electronic quote. No
changes to the rule text are proposed in connection with this
clarification.
---------------------------------------------------------------------------

    \5\ The ``Hybrid Trading System'' refers to the Exchange's
trading platform that allows individual Market-Makers to submit
electronic quotes in their appointed classes. The ``Hybrid 3.0
Platform'' is an electronic trading platform on the Hybrid Trading
System that allows a single quoter to submit an electronic quote
which represents the aggregate Market-Maker quoting interest in a
series for the trading crowd. Members of the trading crowd may also
verbalize quotes (``manual quotes'') to be input into the Exchange's
systems by quote reporters for dissemination in classes trading on
the Hybrid 3.0 Platform. Additionally, bids and offers may be made
at the trading crowd post by public outcry in any option class
trading on either the Hybrid Trading System or Hybrid 3.0 Platform.
See Rules 1.1(aaa) and 6.43.
    \6\ The Exchange notes that it is proposing to eliminate the
requirement that there be at least three (3) Market-Makers quoting
in the relevant series through a separate rule filing, SR-CBOE-2008-
42.
---------------------------------------------------------------------------

    The Exchange believes it is reasonable to clarify that AIM can be
made available in Hybrid 3.0 classes. Making AIM available in such
classes would provide additional flexibility for members to obtain
executions on behalf of their customers while continuing to provide a
meaningful, competitive auction. In this regard, the Exchange notes
that while there may be only a single quoter submitting electronic
quotes for dissemination in Hybrid 3.0

classes, responses may be submitted by all Market-Makers with an
appointment in the relevant option class and Members on behalf of
orders resting at the top of the Exchange's book opposite the agency
order being auctioned.\7\ In Hybrid 3.0 classes, which currently
include options on the Standard and Poor's 500 Index (SPX), American-
style options on the Standard and Poor's 100 Index (OEX) and options on
the Morgan Stanley Retail Index (MVR), there are many Market-Makers at
any given time that are eligible and connected to participate in AIM.
---------------------------------------------------------------------------

    \7\ See Rule 6.74A(b)(1)(D)--(E).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
Section 6(b) of the Act \8\ in general and furthers the objectives of
Section 6(b)(5) of the Act \9\ in particular in that it is designed to
foster cooperation and coordination with persons engaged in regulating,
clearing, settling, processing information with respect to, and
facilitating transactions in securities, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general, to protect investors and the public interest.
In particular, the proposed rule change will provide the Exchange with
more flexibility to set a lower crossing entitlement percentage than
what is currently permitted in the rule, which will allow us to
determine the appropriate percentage for a given class based on
competitive and other market considerations. With respect to Hybrid
3.0, the proposed rule change will also clarify that AIM can be made
available in such classes and thus provide additional opportunities for
price improvement.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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

    CBOE does not believe that the proposed rule change will impose any
burden on competition not necessary or appropriate in furtherance of
the purposes of the Act.

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

    The Exchange neither solicited nor received comments on the
proposal.

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

    Because the foregoing rule does not (i) significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative for 30
days from the date on which it was filed, or such shorter time as the
Commission may designate if consistent with the protection of investors
and the public interest, provided that the self-regulatory organization
has given the Commission written notice of its intent to file the
proposed rule change at least five business days prior to the date of
filing of the proposed rule change or such shorter time as designated
by the Commission, the proposed rule change has become effective
pursuant to Section 19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(6)
thereunder.\11\ At any time within 60 days of the filing of such
proposed rule change, the Commission may summarily abrogate such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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 e-mail to<EMAIL_ADDRESS>Please include
File Number SR-CBOE-2008-79 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-CBOE-2008-79. This
file number should be included on the subject line if e-mail 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 inspection
and copying in the Commission's Public Reference Room, 100 F Street,
NE., Washington, DC 20549, on official business days between the hours
of 10 am and 3 pm. Copies of such filing also will be available for
inspection and copying at the principal office of CBOE. 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-CBOE-2008-79 and should be
submitted on or before September 2, 2008.

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

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

Florence E. Harmon,
Acting Secretary.
 [FR Doc. E8-18485 Filed 8-8-08; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 86, Number 3 (Wednesday, January 6, 2021)]
[Notices]
[Pages 627-630]
[FR Doc No: 2020-29213]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90822; File No. SR-NYSENAT-2020-39]

Self-Regulatory Organizations; NYSE National, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Extending
the Expiration Date of the Temporary Amendments to Rules 10.9261 and
10.9830 as Set Forth in SR-NYSENAT-2020-31 From December 31, 2020, to
April 30, 2021

December 30, 2020.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'' or ``Exchange Act'') \2\ and Rule 19b-4 thereunder,\3\
notice is hereby given that on December 22, 2020, NYSE National, Inc.
(``NYSE National'' or ``Exchange'') filed with the Securities and
Exchange Commission (``Commission'') the proposed rule change as
described in Items I and II below, which Items have been prepared by
the Exchange. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

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

    The Exchange proposes extending the expiration date of the
temporary amendments to Rules 10.9261 and 10.9830 as set forth in SR-
NYSENAT-2020-31 from December 31, 2020, to April 30, 2021, in
conformity with recent changes by the Financial Industry Regulatory
Authority, Inc. (``FINRA''). The proposed rule change would not make
any changes to the text of NYSE National Rules 10.9261 and 10.9830. The
proposed rule change is available on the Exchange's website at
www.nyse.com, at the principal office of the Exchange, and at the
Commission's Public Reference Room.

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

    In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of 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
    The Exchange proposes extending the expiration date of the
temporary amendments as set forth in SR-NYSENAT-2020-31 \4\ to Rules
10.9261 (Evidence and Procedure in Hearing) and 10.9830 (Hearing) from
December 31, 2020, to April 30, 2021 to harmonize with recent changes
by FINRA to extend the expiration date of the temporary amendments to
its Rules 9261 and 9830. SR-NYSENAT-2020-31 temporarily granted to the
Chief or Deputy Chief Hearing Officer the authority to order that
hearings be conducted by video conference if warranted by public health
risks posed by in-person hearings during the ongoing COVID-19 pandemic.
The proposed rule change would not make any changes to the text of
Exchange Rules 10.9261 and 10.9830.\5\
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 90137 (October 8,
2020), 85 FR 65087 (October 14, 2020) (SR-NYSENAT-2020-31) (``SR-
NYSENAT-2020-31'').
    \5\ The Exchange may submit a separate rule filing to extend the
expiration date of the proposed extension beyond April 30, 2021 if
the Exchange requires additional temporary relief from the rule
requirements identified in SR-NYSENAT-2020-31. The amended NYSE
National rules will revert back to their original state at the
conclusion of the temporary relief period and any extension thereof.
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Background
    In 2018, NYSE National adopted disciplinary rules that are, with
certain exceptions, substantially the same as the disciplinary rules of
its affiliate NYSE American LLC, which are in turn substantially
similar to the FINRA Rule 8000 Series and Rule 9000 Series, and which
set forth rules for conducting investigations and enforcement
actions.\6\
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    \6\ See Securities Exchange Act Release No. 83289 (May 17,
2018), 83 FR 23968, 23976 (May 23, 2018) (SR-NYSENAT-2018-02)
(``2018 Approval Order'').
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    In adopting disciplinary rules modeled on FINRA's rules, NYSE
National adopted the hearing and evidentiary processes set forth in
Rule 10.9261 and in Rule 10.9830 for hearings in matters involving
temporary and permanent cease and desist orders

under the Rule 10.9800 Series. As adopted, the text of Rule 10.9261 and
Rule 10.9830 are substantially the same as the FINRA rules with certain
modifications.\7\
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    \7\ See id.
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    In response to the spread of COVID-19, on August 31, 2020, FINRA
filed with the Commission a proposed rule change for immediate
effectiveness, SR-FINRA-2020-027, to temporarily grant FINRA's Office
of Hearing Officers (``OHO'') and the National Adjudicatory Council
(``NAC'') the authority to conduct certain hearings by video
conference, if warranted by the current COVID-19-related public health
risks posed by in-person hearings. Among the rules FINRA amended were
Rules 9261 and 9830.\8\
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    \8\ See Securities Exchange Act Release No. 89737 (September 2,
2020), 85 FR 55712 (September 9, 2020) (SR-FINRA-2020-027) (the
``August 31 FINRA Filing'').
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    Given that FINRA and OHO administers disciplinary hearings on the
Exchange's behalf, and that the public health concerns addressed by
FINRA's amendments apply equally to Exchange disciplinary hearings, on
September 29, 2020, the Exchange filed to temporarily amend Rule
10.9261 and Rule 10.9830 to permit FINRA to conduct virtual hearings on
its behalf.\9\ The temporary amendments to Rule 10.9261 and Rule
10.9830, as originally proposed, will expire on December 31, 2020,
absent another proposed rule change filing by the Exchange.
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    \9\ See supra note 4.
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    The COVID-19 conditions necessitating these temporary amendments
persist, with cases rapidly escalating nationwide. Based on its
assessment of current COVID-19 conditions and the lack of certainty as
to when COVID-19-related health concerns will subside, on December 1,
2020, FINRA filed to extend the expiration date of the temporary rule
amendments to, among other rules, FINRA Rule 9261 and 9830 from
December 31, 2020, to April 30, 2021.\10\
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    \10\ See Securities Exchange Act Release No. 90619 (December 9,
2020), 85 FR 81250 (December 15, 2020) (SR-FINRA-2020-042) (``SR-
FINRA-2020-042'').
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Proposed Rule Change
    Consistent with FINRA's recent proposal, the Exchange proposes to
extend the expiration date of the temporary rule amendments to NYSE
National Rules 10.9261 and 10.9830 as set forth in SR-NYSENAT-2020-31
from December 31, 2020, to April 30, 2021.
    As set forth in SR-FINRA-2020-042, based on its assessment of
current COVID-19 conditions, including the recent escalation in COVID-
19 cases nationwide, FINRA does not believe that the COVID-19-related
health concerns necessitating this relief will subside by December 31,
2020, and has determined that there will be a continued need for this
temporary relief for several months beyond December 31, 2020.\11\ FINRA
accordingly proposed to extend the expiration date of the temporary
rule amendments in the August 31 FINRA Filing from December 31, 2020,
to April 30, 2021.
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    \11\ See id.
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    The Exchange proposes to similarly extend the expiration date of
the temporary rule amendments to NYSE National Rules 10.9261 and
10.9830 as set forth in SR-NYSENAT-2020-31 from December 31, 2020, to
April 30, 2021. With COVID-19 cases surging nationwide, the Exchange
agrees with FINRA that the COVID-19-related public health risks
necessitating this temporary relief have not yet abated and are
unlikely to abate by December 31, 2020. The proposed change will permit
OHO to continue to assess, based on critical COVID-19 data and criteria
and the guidance of health and security consultants, whether an in-
person hearing would compromise the health and safety of the hearing
participants such that the hearing should proceed by video conference.
FINRA has adopted a detailed and thorough protocol to ensure that
hearings conducted by video conference will maintain fair process for
the parties.\12\ The Exchange believes that this is a reasonable
procedure to continue to follow for hearings under Rules 10.9261 and
10.9830 chaired by a FINRA employee.
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    \12\ See SR-FINRA-2020-042, 85 FR at 81251-52; August 31 FINRA
Filing, 85 FR at 55713.
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    As noted below, the Exchange has filed the proposed rule change for
immediate effectiveness and has requested that the SEC waive the
requirement that the proposed rule change not become operative for 30
days after the date of the filing, so the Exchange can implement the
proposed rule change immediately.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the
Act,\13\ in general, and furthers the objectives of Section
6(b)(5),\14\ in particular, because it is designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to foster cooperation and coordination
with persons engaged in facilitating transactions in securities, to
remove impediments to, and perfect the mechanism of, a free and open
market and a national market system and, in general, to protect
investors and the public interest. Additionally, the Exchange believes
the proposed rule change is designed to provide a fair procedure for
the disciplining of members and persons associated with members,
consistent with Sections 6(b)(7) and 6(d) of the Act.\15\
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    \13\ 15 U.S.C. 78f(b).
    \14\ 15 U.S.C. 78f(b)(5).
    \15\ 15 U.S.C. 78f(b)(7) and 78f(d).
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    The Exchange believes that the proposed rule change supports the
objectives of the Act by providing greater harmonization between
Exchange rules and FINRA rules of similar purpose, resulting in less
burdensome and more efficient regulatory compliance. As such, the
proposed rule change will foster cooperation and coordination with
persons engaged in facilitating transactions in securities and will
remove impediments to and perfect the mechanism of a free and open
market and a national market system.
    The proposed rule change, which extends the expiration date of the
temporary amendments to Exchange rules consistent with FINRA's
extension to its Rules 9261 and 9830 for four months as set forth in
SR-FINRA-2020-042, will permit the Exchange to continue to effectively
conduct hearings during the COVID-19 pandemic in situations where in-
person hearings present likely public health risks. The ability to
conduct hearings by video conference will permit the adjudicatory
functions of the Exchange's disciplinary rules to continue unabated,
thereby avoiding protracted delays. The Exchange believes that this is
especially important in matters where temporary and permanent cease and
desist orders are sought because the proposed rule change would enable
those hearings to continue to proceed without delay, thereby enabling
the Exchange to continue to take immediate action to stop significant,
ongoing customer harm, to the benefit of the investing public.
    As set forth in detail in SR-NYSENAT-2020-31, the temporary relief
to permit hearings to be conducted via video conference maintains fair
process and will continue to provide fair process consistent with
Sections 6(b)(7) and 6(d) of the Act \16\ while striking an appropriate
balance between providing fair process and enabling the Exchange to
fulfill its statutory obligations to protect investors and

maintain fair and orderly markets while accounting for the significant
health and safety risks of in-person hearings stemming from the
outbreak of COVID-19. The Exchange notes that this proposal, like SR-
NYSENAT-2020-31, provides only temporary relief. As proposed, the
changes would be in place through April 30, 2021. As noted in SR-
NYSENAT-2020-31 and above, the amended rules will revert back to their
original state at the conclusion of the temporary relief period and, if
applicable, any extension thereof.
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78f(b)(7) and 78f(d).
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    Accordingly, the proposed rule change extending this temporary
relief is in the public interest and consistent with the Act's purpose.

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

    The Exchange does not believe that the proposed temporary rule
change will impose any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act. The proposed
rule change is not intended to address competitive issues but is rather
intended solely to provide continued temporary relief given the impacts
of the COVID-19 pandemic and the related health and safety risks of
conducting in-person activities. The Exchange believes that the
proposed rule change will prevent unnecessary disruptions that would
otherwise result if the temporary amendments were to expire on December
31, 2020.

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

    No written comments were solicited or received with respect to the
proposed rule change.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) \17\ of the Act and Rule 19b-
4(f)(6) thereunder.\18\
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    \17\ 15 U.S.C. 78s(b)(3)(A).
    \18\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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    A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the date of filing. However,
pursuant to Rule 19b-4(f)(6)(iii), the Commission may designate a
shorter time if such action is consistent with the protection of
investors and the public interest. The Exchange has requested that the
Commission waive the 30-day operative delay so that the proposed rule
change may become operative immediately upon filing. As noted above,
the Exchange states that the COVID-related health and safety risks of
conducting in-person activities, which necessitated these temporary
amendments, persist and that cases are escalating nationwide. Based on
FINRA's assessment of the current COVID-19 conditions and FINRA's
determination that there is a continued need for this temporary relief
for several months beyond December 31, 2020, the Exchange states that
it agrees with FINRA that the COVID-19-related public health risks
necessitating this temporary relief have not yet abated and are
unlikely to abate by December 31, 2020.\19\ Moreover, the Exchange
states that FINRA has adopted a detailed and thorough protocol to
ensure that hearings conducted by video conference will provide a fair
process for all parties and will enable the Exchange to fulfill its
statutory obligations to protect investors and maintain fair and
orderly markets.\20\ The Exchange believes that this is a reasonable
procedure to continue to follow for hearings under Rules 10.9261 and
10.9830 chaired by a FINRA employee. Accordingly, the Exchange states
that waiver of the operative delay would prevent unnecessary
disruptions that would otherwise result if the temporary amendments
were to expire on December 31, 2020.
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    \19\ See SR-FINRA-2020-042.
    \20\ See id.
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    The Exchange also indicates that this filing is eligible to become
operative immediately because the proposal would continue to provide
greater harmonization between the Exchange rules and FINRA rules that
serve a similar purpose, resulting in less burdensome and more
efficient regulatory compliance. This proposal would serve to extend
the expiration date of the temporary amendments to the Exchange rules
set forth in SR-NYSENAT-2020-31, which is consistent with FINRA's
extension to its comparable rules, where FINRA requested and the
Commission granted a waiver of the 30-day operative delay.\21\ The
Exchange also indicates that this temporary relief is necessary in
order for the continue performing adjudicatory functions necessary to
meet its statutory obligations in light of COVID-19 related health and
safety risks associated with in-person hearings and will only be
temporary relief, with the rules reverting back to their original state
at the conclusion of the relief period and any extension thereof.\22\
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    \21\ See supra note 10 (referencing FINRA's proposal to extend
the expiration date of temporary rule amendments allowing hearings
to be conducted on a temporary basis by video conference if
warranted by COVID-19 related health risks).
    \22\ See supra note 5 and accompanying text.
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    The Commission observes that this proposal, like SR-NYSENAT-2020-31
and FINRA's comparable filing,\23\ provides only temporary relief
during the period in which the Exchange's operations are impacted by
COVID-19. As proposed, the changes would be in place through April 30,
2021. For these reasons, the Commission believes that waiver of the 30-
day operative delay is consistent with the protection of investors and
the public interest. Accordingly, the Commission hereby waives the 30-
day operative delay and designates the proposal operative upon
filing.\24\
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    \23\ See supra notes 8 and 10 and accompanying text.
    \24\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule change's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.

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-NYSENAT-2020-39 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-NYSENAT-2020-39. 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, on business days between the
hours of 10:00 a.m. and 3:00 p.m., located at 100 F Street NE,
Washington, DC 20549. Copies of such filing also will be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change.
    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-NYSENAT-2020-
39 and should be submitted on or before January 27, 2021.
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    \25\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\25\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-29213 Filed 1-5-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 79, Number 31 (Friday, February 14, 2014)]
[Notices]
[Page 9022]
[FR Doc No: 2014-03457]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Thursday,
February 20, 2014 at 2:00 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
    The General Counsel of the Commission, or her designee, has
certified that, in her opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matter at the Closed Meeting.
    Commissioner Stein, as duty officer, voted to consider the items
listed for the Closed Meeting in a closed session.
    The subject matter of the Closed Meeting will be:

Institution and settlement of injunctive actions;
institution and settlement of administrative proceedings;
adjudicatory matters; and
other matters relating to enforcement proceedings.

    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact the Office of the
Secretary at<PHONE_NUMBER>.

    Dated: February 12, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-03457 Filed 2-12-14; 4:15 pm]
BILLING CODE 8011-01-P