[Federal Register Volume 86, Number 193 (Friday, October 8, 2021)]
[Proposed Rules]
[Pages 56232-56234]
[FR Doc No: 2021-21952]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2021-0843; Project Identifier MCAI-2020-00256-Q]
RIN 2120-AA64

Airworthiness Directives; Umlaut Engineering GmbH (Previously P3
Engineering GmbH) HAFEX (Halon-Free) Hand-Held Fire Extinguishers

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: The FAA proposes to adopt a new airworthiness directive (AD)
for certain Umlaut Engineering GmbH (previously P3 Engineering GmbH)
HAFEX (Halon-free) hand-held P3HAFEX fire extinguishers (fire
extinguishers). This proposed AD was prompted by reports of a quality
control issue on certain fire extinguishers, where the spindle
geometries of the fire extinguishers were found to be out of tolerance.
This proposed AD would require removing affected fire extinguishers
from service. The FAA is proposing this AD to address the unsafe
condition on these products.

DATES: The FAA must receive comments on this proposed AD by November
22, 2021.

ADDRESSES: You may send comments, using the procedures found in 14 CFR
11.43 and 11.45, by any of the following methods:
     Federal eRulemaking Portal: Go to https://www.regulations.gov. Follow the instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: U.S. Department of Transportation, Docket
Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New
Jersey Avenue SE, Washington, DC 20590.
     Hand Delivery: Deliver to Mail address between 9 a.m. and
5 p.m., Monday through Friday, except Federal holidays.
    For service information identified in this NPRM, contact Umlaut
Engineering, Blohmstrasse 12, Hamburg, Germany 21079, Phone: 49 0 40 75
25 779 0, email<EMAIL_ADDRESS>or web: https://www.umlaut.com/hafex. You may view this service information at the FAA, Office of the
Regional Counsel, Southwest Region, 10101 Hillwood Pkwy., Room 6N-321,
Fort Worth, TX 76177. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>.

Examining the AD Docket

    You may examine the AD docket at https://www.regulations.gov by
searching for and locating Docket No. FAA-2021-0843; or in person at
Docket Operations between 9 a.m. and 5 p.m., Monday through Friday,
except Federal holidays. The AD docket contains this NPRM, the European
Union Aviation Safety Agency (EASA) AD, any comments received, and
other information. The street address for Docket Operations is listed
above.

FOR FURTHER INFORMATION CONTACT: Andrea Jimenez, Aerospace Engineer,
COS Program Management Section, Operational Safety Branch, Compliance &
Airworthiness Division, FAA, 1600 Stewart Ave., Suite 410, Westbury, NY
11590; telephone<PHONE_NUMBER>; email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Comments Invited

    The FAA invites you to send any written relevant data, views, or
arguments about this proposal. Send your comments to an address listed
under ADDRESSES. Include ``Docket No. FAA-2021-0843; Project Identifier
MCAI-2020-00256-Q'' at the beginning of your comments. The most helpful
comments reference a specific portion of the proposal, explain the
reason for any recommended change, and include supporting data. The FAA
will consider all comments received by the closing date and may amend
this proposal because of those comments.
    Except for Confidential Business Information (CBI) as described in
the following paragraph, and other information as described in 14 CFR
11.35, the FAA will post all comments received, without change, to
https://www.regulations.gov, including any personal information you
provide. The agency will also post a report summarizing each
substantive verbal contact received about this NPRM.

Confidential Business Information

    CBI is commercial or financial information that is both customarily
and actually treated as private by its owner. Under the Freedom of
Information Act (FOIA) (5 U.S.C. 552), CBI is exempt from public
disclosure. If your comments responsive to this NPRM contain commercial
or financial information that is customarily treated as private, that
you actually treat as private, and that is relevant or responsive to
this NPRM, it is important that you clearly designate the submitted
comments as CBI. Please mark each page of your submission containing
CBI as ``PROPIN.'' The FAA will treat such marked submissions as
confidential under the FOIA, and they will not be placed in the public
docket of this NPRM. Submissions containing CBI should be sent to
Andrea Jimenez, Aerospace Engineer, COS Program Management Section,
Operational Safety Branch, Compliance & Airworthiness Division, FAA,
1600 Stewart Ave., Suite 410, Westbury, NY 11590; telephone (516) 228-
7330; email<EMAIL_ADDRESS>Any commentary that the FAA
receives which is not specifically designated as CBI will be placed in
the public docket for this rulemaking.

Background

    EASA, which is the Technical Agent for the Member States of the
European Union, has issued EASA AD 2020-0013, dated January 29, 2020
(EASA AD 2020-0013), to correct an unsafe condition for Airbus
Helicopters Model AS 332 C, C1, L, L1, and L2, AS 365 N2 and N3, EC 155
B and B1, EC 175 B, EC 225 LP, SA 330 J, and SA 365 C1, C2, C3, N, and
N1 helicopters; Airbus Helicopters Deutschland GmbH Model EC135 P1, P2,
P2+, P3, T1, T2, T2+, and T3, EC635 P2+, P3, T1, T2+, and T3, and MBB-
BK117 A-1, A-3, A-4, B-1, B-2, C-1, C-2, and D-2 helicopters; Leonardo
S.p.A. Model AB139, AB 204B, AB 205 A-1, AB 212, AB 412, AB 412EP, AS-
61N, AS-61N1, AW139, AW169, and AW189 helicopters; and WSK PZL--
[Sacute]WIDNIK S.A. Model PZL W-3A and PZL W-3AS helicopters. EASA
advises of occurrences that have been reported of a quality issue on
certain fire extinguishers, manufactured by Umlaut Engineering GmbH
(formerly P3 Engineering GmbH), where the spindle geometries of the
extinguishers were found to be out of tolerance. The manufacturing
defect identified in certain serial-numbered fire extinguisher part
numbers (P/Ns) P3APP003010A and P3APP003010C with a manufacturing date
of March 2019 through July 2019 inclusive, where prolonged exposure (12
hours or more) to high temperature conditions of more than 68 [deg]C
(154.4 [deg]F) could cause a non-detectable seizure of the spindle that
could cause the fire extinguisher to be inoperative. This condition, if
not

addressed, could prevent proper extinguishing of a fire in the cabin,
possibly resulting in damage to the helicopter and injury to the
occupants.
    Accordingly, EASA AD 2020-0013 requires replacing affected fire
extinguishers and prohibits installing an affected fire extinguisher on
any helicopter.

FAA's Determination

    These products have been approved by EASA and are approved for
operation in the United States. Pursuant to the FAA's bilateral
agreement with the European Union, EASA has notified the FAA about the
unsafe condition described in its AD. The FAA is proposing this AD
after evaluating all known relevant information and determining that
the unsafe condition described previously is likely to exist or develop
on other products.

Related Service Information Under 1 CFR Part 51

    The FAA reviewed Umlaut Vendor Service Bulletin Doc. No.
P3VSB000001, Issue C, dated December 13, 2019 (VSB P3VSB000001). This
service information specifies procedures for identifying P3HAFEX fire
extinguisher P/Ns P3APP003010A and P3APP003010C, with a date of
manufacture between March 2019 through July 2019, and an S/N listed in
its Appendix 1, to determine if the fire extinguisher should be
replaced. VSB P3VSB000001 also specifies procedures for removing,
installing, and tracking affected P3HAFEX fire extinguishers.
    This service information is reasonably available because the
interested parties have access to it through their normal course of
business or by the means identified in the ADDRESSES section.

Proposed AD Requirements in This NPRM

    This proposed AD would require removing affected fire extinguishers
from service and prohibit installing affected fire extinguishers on any
aircraft.

Differences Between This Proposed AD and the EASA AD

    EASA AD 2020-0013 is issued against various model helicopters and
defines an affected part, whereas this proposed AD is an appliance AD
action against affected fire extinguishers because the unsafe condition
exists in the appliance itself and not in the installation of the
appliance on certain aircraft. EASA AD 2020-0013 identifies some
helicopter models that are affected by this unsafe condition that are
not identified as possibly affected in this proposed AD because those
model helicopters are not FAA type-certificated.

Costs of Compliance

    The FAA estimates that this proposed AD affects 762 helicopters of
U.S. Registry. Labor rates are estimated at $85 per work-hour. Based on
these numbers, the FAA estimates that operators may incur the following
costs in order to comply with this proposed AD.
    Replacing a fire extinguisher would take about 0.25 work-hour and
parts would cost about $1,200 for an estimated cost of $1,221 per fire
extinguisher.
    According to Umlaut Engineering GmbH service information, some of
the costs of this proposed AD may be covered under warranty, thereby
reducing the cost impact on affected individuals. The FAA does not
control warranty coverage by Umlaut Engineering GmbH; accordingly, all
costs are included in this cost estimate.

Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, section 106, describes the
authority of the FAA Administrator. Subtitle VII: Aviation Programs,
describes in more detail the scope of the Agency's authority.
    The FAA is issuing this rulemaking under the authority described in
Subtitle VII, Part A, Subpart III, Section 44701: General requirements.
Under that section, Congress charges the FAA with promoting safe flight
of civil aircraft in air commerce by prescribing regulations for
practices, methods, and procedures the Administrator finds necessary
for safety in air commerce. This regulation is within the scope of that
authority because it addresses an unsafe condition that is likely to
exist or develop on products identified in this rulemaking action.

Regulatory Findings

    The FAA determined that this proposed AD would not have federalism
implications under Executive Order 13132. This proposed AD would not
have a substantial direct effect on the States, on the relationship
between the national Government and the States, or on the distribution
of power and responsibilities among the various levels of government.
    For the reasons discussed, I certify this proposed regulation:
    (1) Is not a ``significant regulatory action'' under Executive
Order 12866,
    (2) Would not affect intrastate aviation in Alaska, and
    (3) Would not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Incorporation by
reference, Safety.

The Proposed Amendment

    Accordingly, under the authority delegated to me by the
Administrator, the FAA proposes to amend 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

0
1. The authority citation for part 39 continues to read as follows:

    Authority:  49 U.S.C. 106(g), 40113, 44701.

Sec.  39.13   [Amended]

0
2. The FAA amends Sec.  39.13 by adding the following new airworthiness
directive:

Umlaut Engineering GmbH (previously P3 Engineering GmbH) HAFEX
(Halon-free) Hand-Held Fire Extinguishers: Docket No. FAA-2021-0843;
Project Identifier MCAI-2020-00256-Q.

(a) Comments Due Date

    The FAA must receive comments on this airworthiness directive
(AD) by November 22, 2021.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to Umlaut Engineering GmbH (previously P3
Engineering GmbH) HAFEX (Halon-free) hand-held P3HAFEX fire
extinguisher (fire extinguisher) part numbers P3APP003010A and
P3APP003010C with a manufacturing date of March 2019 through July
2019 inclusive and with a serial number listed in Appendix 1 of
Umlaut Vendor Service Bulletin Doc. No. P3VSB000001, Issue C, dated
December, 13, 2019. These fire extinguishers may be installed on but
not limited to the following aircraft certificated in any category:
    (1) Airbus Helicopters Model AS332C, AS332C1, AS332L, AS332L1,
AS332L2, AS-365N2, AS 365 N3, EC 155B, EC155B1, EC225LP, SA330J, SA-
365C1, SA-365C2, SA-365N, and SA-365N1 helicopters;
    (2) Airbus Helicopters Deutschland GmbH (AHD) Model EC135P1,
EC135P2, EC135P2+, EC135P3, EC135T1, EC135T2, EC135T2+, EC135T3,
MBB-BK117 A-1, MBB-BK117 A-3, MBB-BK117 A-4, MBB-BK117 B-1, MBB-
BK117 B-2, MBB-BK117 C-1, MBB-BK117 C-2, and MBB-BK117 D-2
helicopters;
    (3) Leonardo S.p.a. Model AB139, AB412, AB412 EP, AW139, AW169,
and AW189 helicopters; and
    (4) PZL Swidnik S.A Model PZL W-3A helicopters.

(d) Subject

    Joint Aircraft Service Component (JASC) Code: 2622, Fire Bottle,
Portable.

(e) Unsafe Condition

    This AD defines the unsafe condition as a non-conforming fire
extinguisher, which could prevent proper extinguishing of a fire in
the cabin, and result in subsequent damage to the helicopter and
injury to the occupants.

(f) Compliance

    Comply with this AD within the compliance times specified,
unless already done.

(g) Required Actions

    (1) Within 12 months after the effective date of this AD, remove
each fire extinguisher identified in the introductory text of
paragraph (c) from service.
    (2) As of the effective date of this AD, do not install a fire
extinguisher identified in the introductory text of paragraph (c) of
this AD on any aircraft.

(h) Alternative Methods of Compliance (AMOCs)

    (1) The Manager, International Validation Branch, FAA, has the
authority to approve AMOCs for this AD, if requested using the
procedures found in 14 CFR 39.19. In accordance with 14 CFR 39.19,
send your request to your principal inspector or local Flight
Standards District Office, as appropriate. If sending information
directly to the manager of the International Validation Branch, send
it to the attention of the person identified in paragraph (i)(1) of
this AD. Information may be emailed to<EMAIL_ADDRESS>    (2) Before using any approved AMOC, notify your appropriate
principal inspector, or lacking a principal inspector, the manager
of the local flight standards district office/certificate holding
district office.

(i) Related Information

    (1) For more information about this AD, contact Andrea Jimenez,
Aerospace Engineer, COS Program Management Section, Operational
Safety Branch, Compliance & Airworthiness Division, FAA, 1600
Stewart Ave., Suite 410, Westbury, NY 11590; telephone (516) 228-
7330; email<EMAIL_ADDRESS>    (2) For service information identified in this AD, contact
Umlaut Engineering, Blohmstrasse 12, Hamburg, Germany 21079, Phone:
49 0 40 75 25 779 0, email<EMAIL_ADDRESS>or web: https://www.umlaut.com/hafex. You may view this referenced service
information at the FAA, Office of the Regional Counsel, Southwest
Region, 10101 Hillwood Pkwy., Room 6N-321, Fort Worth, TX 76177. For
information on the availability of this material at the FAA, call
(817) 222-5110.
    (3) The subject of this AD is addressed in European Union
Aviation Safety Agency (EASA) AD 2020-0013, dated January 29, 2020.
You may view the EASA AD on the internet at https://www.regulations.gov in Docket No. FAA-2021-0843.

    Issued on September 30, 2021.
Lance T. Gant,
Director, Compliance & Airworthiness Division, Aircraft Certification
Service.
[FR Doc. 2021-21952 Filed 10-7-21; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 80, Number 181 (Friday, September 18, 2015)]
[Notices]
[Pages 56511-56515]
[FR Doc No: 2015-23396]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75910; File No. SR-NASDAQ-2015-102]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Transaction Fees at Chapter XV, Section 2 Entitled ``NASDAQ
Options Market--Fees and Rebates''

September 14, 2015.
    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 September 1, 2015, The NASDAQ Stock Market LLC (``Nasdaq'' 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. The Commission is publishing this notice to solicit comments
on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend transaction fees at Chapter XV,
Section 2 entitled ``NASDAQ Options Market--Fees and Rebates,'' which
governs pricing for NASDAQ members using the NASDAQ Options Market
(``NOM''), NASDAQ's facility for executing and routing standardized
equity and index options.
    While these amendments are effective upon filing, the Exchange has
designated the proposed amendments to be operative on September 1,
2015.
    The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaq.cchwallstreet.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 Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.

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

1. Purpose
    The Exchange proposes the following five [sic] changes to the NOM
transaction fees set forth at Chapter XV, Section 2 for executing and
routing standardized equity and index options under the Penny Pilot
options program. The Penny Pilot was established in March 2008 and has
since been expanded and extended through June 30, 2016.\3\
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    \3\ See Securities Exchange Act Release Nos. 57579 (March 28,
2008), 73 FR 18587 (April 4, 2008) (SR-NASDAQ-2008-026) (notice of
filing and immediate effectiveness establishing Penny Pilot); 60874
(October 23, 2009), 74 FR 56682 (November 2, 2009) (SR-NASDAQ-2009-
091) (notice of filing and immediate effectiveness expanding and
extending Penny Pilot); 60965 (November 9, 2009), 74 FR 59292
(November 17, 2009) (SR-NASDAQ-2009-097) (notice of filing and
immediate effectiveness adding seventy-five classes to Penny Pilot);
61455 (February 1, 2010), 75 FR 6239 (February 8, 2010) (SR-NASDAQ-
2010-013) (notice of filing and immediate effectiveness adding
seventy-five classes to Penny Pilot); 62029 (May 4, 2010), 75 FR
25895 (May 10, 2010) (SR-NASDAQ-2010-053) (notice of filing and
immediate effectiveness adding seventy-five classes to Penny Pilot);
65969 (December 15, 2011), 76 FR 79268 (December 21, 2011) (SR-
NASDAQ-2011-169) (notice of filing and immediate effectiveness
extension and replacement of Penny Pilot); 67325 (June 29, 2012), 77
FR 40127 (July 6, 2012) (SR-NASDAQ-2012-075) (notice of filing and
immediate effectiveness and extension and replacement of Penny Pilot
through December 31, 2012); 68519 (December 21, 2012), 78 FR 136
(January 2, 2013) (SR-NASDAQ-2012-143) (notice of filing and
immediate effectiveness and extension and replacement of Penny Pilot
through June 30, 2013); 69787 (June 18, 2013), 78 FR 37858 (June 24,
2013) (SR-NASDAQ-2013-082) (notice of filing and immediate
effectiveness and extension and replacement of Penny Pilot through
December 31, 2013); 71105 (December 17, 2013), 78 FR 77530 (December
23, 2013) (SR-NASDAQ-2013-154) (notice of filing and immediate
effectiveness and extension and replacement of Penny Pilot through
June 30, 2014); 79 FR 31151 (May 23, 2014), 79 FR 31151 (May 30,
2014) (SR-NASDAQ-2014-056) (notice of filing and immediate
effectiveness and extension and replacement of Penny Pilot through
December 31, 2014); 73686 (December 2, 2014), 79 FR 71477 (November
25, 2014) (SR-NASDAQ-2014-115) (notice of filing and immediate
effectiveness and extension and replacement of Penny Pilot through
June 30, 2015) and 75283 (June 24, 2015), 80 FR 37347 (June 30,
2015) (SR-NASDAQ-2015-063) (Notice of Filing and Immediate
Effectiveness of a Proposed Rule Change Relating to Extension of the
Exchange's Penny Pilot Program and Replacement of Penny Pilot Issues
That Have Been Delisted.) See also NOM Rules, Chapter VI, Section 5.

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    The proposed changes are as follows:
    Rebate to Add Liquidity in Penny Pilot Options: the Exchange
proposes to
    1. Increase the rebates to Participants that qualify for Tiers 8 of
the Customer \4\ and Professional \5\ rebate program and that add
greater than 1.40 percent of total Customer interest for the month.
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    \4\ The term ``Customer'' refers to a customer in a transaction
that is marked by a Participant in the Customer range for clearing
purposes at The Options Clearing Corporation (``OCC''). Such a
transaction is not for the account of a broker, dealer or
``Professional'' (see next footnote).
    \5\ The term ``Professional'' means any person or entity that
(i) is not a broker or dealer in securities, and (ii) places more
than 390 orders in listed options per day on average during a
calendar month for its own beneficial account(s), See Chapter I,
Section 1(a)(48). All Professional orders must be appropriately
marked by Participants.
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    Fee for Removing Liquidity in Penny Pilot Options: the Exchange
proposes to:
    2. Increase fees from $0.50 to $0.54 per contract for all
Participant categories other than Customer, which remains at $0.48.
Fees for removing liquidity in SPY \6\ will remain unchanged by this
proposal.
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    \6\ SPDR[supreg] S&P 500[supreg] ETF Trust.
---------------------------------------------------------------------------

    3. Increase the fee for removing liquidity for Participants that
qualify for Tiers 7 and 8 of the Customer and Professional rebate
program.
    Each specific change is described in greater detail below.
Change 1
    The Exchange is proposing to increase the rebates paid for
providing Customer and Professional liquidity in Penny Pilot options.
Currently, the Exchange offers eight volume-based rebate Tiers for
Participants providing Customer or Professional liquidity in Penny
Pilot options. These rebates range from $0.20 (Tier 1) to $0.48 (Tier
8) per contract depending upon the level of liquidity provided. Tiers 1
through 4 are based on Participants adding Customer, Professional,
Firm, Non-NOM Market Maker and/or Broker-Dealer liquidity in Penny
Pilot Options and/or Non-Penny Pilot Options as a percentage of total
industry customer equity and ETF option ADV contracts per day in a
month. Participants qualifying for Tiers 1 through 4 earn a rebate of
$0.20 to $0.43 per contract. Tiers 5 through 7 add other, challenging
volume-based requirements and offer rebates of $0.45 to $0.47 per
contract of Customer or Professional liquidity provided in Penny Pilot
options. Tiers 1 through 7 of the Customer or Professional rebate
program will remain unchanged.
    The Exchange is proposing to change only Tier 8 which currently
offers a $0.48 rebate for executed Customer or Professional liquidity
where:

    Participant adds Customer, Professional, Firm, Non-NOM Market
Maker and/or Broker-Dealer liquidity in Penny Pilot Options and/or
Non-Penny Pilot Options above 0.75% or more of total industry
customer equity and ETF option ADV contracts per day in a month or
Participant adds (1) Customer and/or Professional liquidity in Penny
Pilot Options and/or Non-Penny Pilot Options of 30,000 or more
contracts per day in a month, (2) the Participant has certified for
the Investor Support Program set forth in Rule 7014, and (3) the
Participant qualifies for rebates under the Qualified Market Maker
(``QMM'') Program set forth in Rule 7014.

    In addition, Participants that qualify for Tier 8 can get a
supplemental rebate if they add:

    Customer, Professional, Firm, Non-NOM Market Maker and/or
Broker-Dealer liquidity in Penny Pilot Options and/or Non- Penny
Pilot Options of 1.15% or more of total industry customer equity and
ETF option ADV contracts per day in a month will receive an
additional $0.02 per contract Penny Pilot Options Customer Rebate to
Add Liquidity for each transaction which adds liquidity in Penny
Pilot Options in that month.

Participants that qualify for Tier 8 and the supplemental rebate
receive a total rebate of $0.50 per contract of Customer liquidity
provided in Penny Pilot options.
    Beginning September 1, the Exchange is proposing to offer an
increased supplemental rebate for certain Participants that qualify for
Tier 8. Specifically, the Exchange proposes to offer an additional
$0.05 rebate per contract for adding Customer liquidity in Penny Pilot
Options in that month for Participants that add Customer, Professional,
Firm, Non-NOM Market Maker and/or Broker-Dealer liquidity in Penny
Pilot Options and/or Non- Penny Pilot Options of 1.40% or more of total
industry customer equity and ETF option ADV contracts per day in a
month. Participants that qualify for Tier 8 and the new supplemental
rebate will receive a total rebate of $0.53 per contract of Customer
liquidity executed in Penny Pilot options. This represents an increase
of $0.03 per contract for Participants qualifying for this new
supplemental rebate.
Change 2
    The Exchange also proposes, beginning September 1, to increase from
$0.50 to $0.54 per contract the fees assessed for removing liquidity in
Penny Pilot options for all Participant categories other than Customer,
which will remain unchanged at $0.48. This will represent an increase
of $0.04 per contract of liquidity removed in the Professional, Firm,
NOM Market Maker, Non-NOM Market Maker, and Broker Dealer categories
for Participants that qualify for no fee reductions. For executions in
SPY, the fees will remain unchanged by this proposal. Specially, the
fees assessed for executions in SPY will remain $0.48 per contact for
Customer and $0.50 per contract for all other Participants.
Change 3
    The Exchange proposes to increase the fee assessed for removing
liquidity for Participants that qualify for Tiers 7 and 8 of the
Customer and Professional rebate program. As described above, the
Exchange currently offers eight tiers of volume-based rebates for
Participants that add Customer or Professional liquidity in Penny Pilot
options. Relative to other Participants, Participants that qualify for
Tiers 7 and 8 receive increased rebates for adding liquidity, and they
also are assessed reduced fees for removing liquidity. Specifically,
Participants that qualify for Customer or Professional Rebate to Add
Liquidity Tiers 7 or 8 in a given month are assessed a Professional,
Firm, Non-NOM Market Maker, NOM Market Maker or Broker-Dealer Fee for
Removing Liquidity in Penny Pilot Options of $0.48 per contract and a
Customer Fee for Removing Liquidity in Penny Pilot Options of $0.47 per
contract. Participants that do not qualify for Tiers 7 and 8 currently
pay $0.50 per contract for removing liquidity in the Professional,
Firm, Non-NOM Market Maker, NOM Market Maker or Broker-Dealer
categories, and $0.48 per contract for removing liquidity in the
Customer category. In other words, this represents a relative reduction
of $0.02 in the Professional, Firm, Non-NOM Market Maker, NOM Market
Maker or Broker-Dealer categories, and a $0.01 relative reduction in
the Customer liquidity category.
    Beginning September 1, the Exchange proposes to charge these same
Participants (those that qualify for Customer or Professional Rebate to
Add Liquidity Tiers 7 or 8 in a given month) a fee of $0.50 for
removing liquidity for Professional, Firm, Non-NOM Market Maker, NOM
Market Maker or Broker-

Dealer in Penny Pilot Options. As described above, also beginning
September 1, Participants that do not qualify for Tiers 7 and 8 will
pay $0.54 per contract for removing liquidity in the Professional,
Firm, Non-NOM Market Maker, NOM Market Maker or Broker-Dealer
categories, and $0.48 per contract for removing liquidity in the
Customer category. As a result, beginning September 1, Participants
that qualify for Tiers 7 and 8 will enjoy a relative fee reduction of
$0.04 in the Professional, Firm, Non-NOM Market Maker, NOM Market Maker
or Broker-Dealer categories, and will pay the same Customer fee for
removing liquidity of $0.48 per contract as is the case for all other
Participants.
2. Statutory Basis
    NASDAQ believes that the proposed rule change is consistent with
the provisions of Section 6 of the Act,\7\ in general, and with Section
6(b)(4) and 6(b)(5) of the Act,\8\ in particular, in that it provides
for the equitable allocation of reasonable dues, fees and other charges
among members and issuers and other persons using any facility or
system which NASDAQ operates or controls, and is not designed to permit
unfair discrimination between customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f.
    \8\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

Change 1
    The Exchange believes that it is an equitable allocation of
reasonable fees to offer an additional $0.05 rebate per contract for
adding Customer liquidity in Penny Pilot Options in that month for
Participants that add Customer, Professional, Firm, Non-NOM Market
Maker and/or Broker-Dealer liquidity in Penny Pilot Options and/or Non-
Penny Pilot Options of 1.40% or more of total industry customer equity
and ETF option ADV contracts per day in a month. As stated above, the
use of volume-based rebate tiers is well accepted as consistent with an
equitable allocation of reasonable fees under the Act. In fact, the
Exchange's proposal represents only a minor extension of the rebate
program that already exists on the Exchange: Participants that qualify
for Tier 8 and the new supplemental rebate will receive a total rebate
of $0.53 per contract of Customer liquidity executed in Penny Pilot
options which is an increase of $0.03 per contract beyond the existing
supplemental rebate of $0.02.
    The Exchange's proposal to increase the supplemental rebate for
providing Customer liquidity in Penny Pilot options is also equitable
and not unfairly discriminatory under the Act. As stated above, the use
of volume-based incentives has long been accepted as an equitable and
not unfairly discriminatory pricing practice employed at multiple
competing options exchanges. In fact, the specific volume-based
incentive proposed here--a supplemental rebate for providing greater
amounts of Customer liquidity in Penny Pilot options--is currently
employed by NOM and it has been accepted as equitable and not unfairly
discriminatory under the Act. As is true of the existing supplemental
rebate, the proposed $0.03 additional supplement is a ``fair'' form of
discrimination because it benefits all market Participants by
attracting valuable liquidity to the market and thereby enhancing the
trading quality and efficiency of all.
Change 2
    It is also an equitable allocation of reasonable fees for the
Exchange to increase from $0.50 to $0.54 per contract the fees assessed
for removing liquidity in Penny Pilot options for all Participant
categories other than Customer, while the rebate [sic] for Customer
liquidity remains unchanged at $0.48. The increase of $0.04 per
contract of liquidity removed in the Professional, Firm, NOM Market
Maker, Non-NOM Market Maker, and Broker Dealer categories results in a
maximum fee that is within the range of maximum fees at other exchanges
Penny Pilot options that have been accepted as an equitable allocation
of reasonable fees under the Act.\9\ The total differential of $0.06
also is below the maximum differentials employed by other exchanges
that have previously been and currently are accepted as equitable and
reasonable under the Act. Finally, this proposed fee increase for
removing liquidity must be read in conjunction with Change 1, which
increase rebates for providing liquidity, when determining the overall
equity and reasonableness of this proposed rule change.
---------------------------------------------------------------------------

    \9\ For example, MIAX charges $0.55 for executions in the
following penny pilot options: EEM, GLD, IWM, QQQ and SPY (see MIAX
fee schedule). BOX assesses fees greater than $0.55 to Non-customers
for executions in Penny Pilot options (see BOX Options fee
schedule).
---------------------------------------------------------------------------

    The Exchange also believes that maintaining the current execution
prices for SPY while raising fees for other options is consistent with
an equitable allocation of reasonable fees and is not unfairly
discriminatory. Multiple exchanges have adopted pricing for a select
group of symbols, a practice that has been accepted as consistent with
an equitable allocation of reasonable fees under the Act.\10\ The
unique nature of trading in SPY, the most actively traded standardized
option in the U.S, justifies differentiating it from other symbols,
particularly where that differentiation results in maintaining lower
execution fees.
---------------------------------------------------------------------------

    \10\ See, e.g., fee schedules of MIAX and CBOE (both CBOE and
C2).
---------------------------------------------------------------------------

    The Exchange's proposal is equitable and not unfairly
discriminatory for many of the same reasons. It is common practice
among options exchanges to differentiate between fees for removing
Customer liquidity and fees for removing other categories of liquidity,
and such differentiation has been accepted as not unfairly
discriminatory under the Act. Charging lower fees for removing Customer
liquidity has been considered beneficial in that attracting this
liquidity benefits all market Participants by improving the overall
quality of trading on the Exchange. The level of differentiation
($0.06) is also within the bounds of what has been accepted as not
unfairly discriminatory under the Act. Finally, the proposed fees will
be imposed equally within each category of liquidity removed among all
Participants.
Change 3
    It is an equitable allocation of reasonable fees for the Exchange
to charge Participants that qualify for Customer or Professional Rebate
to Add Liquidity Tiers 7 or 8 in a given month a fee of $0.50 (an
increase from $0.48) for removing liquidity in Penny Pilot Options for
Professional, Firm, Non-NOM Market Maker, NOM Market Maker or Broker-
Dealer Fee and $0.48 (an increase from $0.47) for removing Customer
liquidity. The total maximum fee for qualifying Participants will be
$0.50, which is below the maximum fees assessed by other exchanges for
similar executions. Moreover, the increase of $0.01 for the removal of
liquidity in the Customer category and $0.02 for removing liquidity in
all other categories is a modest increase in isolation, and even more
so when read in conjunction with the proposed increased rebates for
providing liquidity described above regarding Changes 1, 2, and 3.
Finally, Participants that qualify for Tiers 7 and 8 and that pay this
increased fee will actually enjoy a slightly higher differential of
$0.04 as opposed to the current differentials of $0.01 and $0.02
relative to non-qualifying Participants.

    The Exchange's proposal is equitable and not unfairly
discriminatory for many of the same reasons. It is common practice
among options exchanges to differentiate between fees for removing
Customer liquidity and fees for removing other categories of liquidity,
and such differentiation has been accepted as not unfairly
discriminatory under the Act. In fact, the NOM fee reductions for
Participants qualifying for Tiers 7 and 8 of the Customer and
Professional rebate program has existed and been accepted as consistent
with the Act for some time. The level of differentiation created by
this minor revision ($0.04) is within the bounds of what has been
accepted as not unfairly discriminatory under the Act. Finally, the
proposed fees will be imposed equally within each category of liquidity
removed among all Participants.

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 not necessary or appropriate in
furtherance of the purposes of the Act. The Exchange operates in a
highly competitive market in which many sophisticated and knowledgeable
market participants can readily and do send order flow to competing
exchanges if they deem fee levels or rebate incentives at a particular
exchange to be excessive or inadequate. Additionally, new competitors
have entered the market and still others are reportedly entering the
market shortly. These market forces ensure that the Exchange's fees and
rebates remain competitive with the fee structures at other trading
platforms. In that sense, the Exchange's proposal is actually pro-
competitive because the Exchange is simply responding to competition by
adjusting rebates and fees in order to remain competitive in the
current environment.
Change 1
    The Exchange does not believe that increasing the rebates to
Participants that qualify for Tiers 8 of the Customer and Professional
rebate program and that add greater than 1.40 percent of total Customer
interest for the month places any burden on competition not necessary
or appropriate in furtherance of the purposes of the Act. As described
above, the use of volume-based tiers has been accepted as consistent
with the Act, including Tiers 1 through 8 of the existing Customer and
Professional rebate program for Penny Pilot options. Volume-based fee
reductions such as that proposed here are recognized by economists as a
pro-competitive reflection of a competitive marketplace such as the SEC
has fostered in the national market system for standardized options.
    Additionally, the proposed change is pro-competitive because it
encourages Participants to add more liquidity to the NOM market and
thereby strengthen NOM's competitive position. Greater liquidity
benefits all market participants by providing more trading
opportunities and attracting greater participation by market makers. An
increase in the activity of these market participants in turn
facilitates tighter spreads. All Participants are eligible to
participate in the Firm category if they choose, and each can thereby
become eligible to earn the rebates by transacting the requisite
volume.
Change 2
    The Exchange does not believe that increase fees from $0.50 to
$0.54 per contract for all Participant categories other than Customer,
which remains at $0.48 places any burden on competition not necessary
or appropriate in furtherance of the purposes of the Act. In a
competitive marketplace such as that for trading of standardized
options, the Exchange is constrained from raising prices to super-
competitive levels by the risk of losing out to better-priced
competitors. The resulting fee of $0.54 is below fees charged by other
Exchanges, which have themselves been considered consistent with the
Act. In addition, the fee increase should be read in conjunction with
increased rebates (lower fees) described above that offset the fee
increase and that the Exchange believes are necessary and well-targeted
to increase the overall competitiveness of the market.
    The Exchange does not believe that maintaining existing fees for
executions in SPY ($0.48 per contract for Customer liquidity and $0.50
for all other liquidity), which remains at $0.48 places any burden on
competition not necessary or appropriate in furtherance of the purposes
of the Act. Rather, the Exchange believes that distinguishing between
SPY and all other options is pro-competitive in that it reflects the
unique nature of the fierce competition that exists in SPY as the most
actively traded multiply listed option in the U.S. Multiple exchanges
set prices that apply to a select group of symbols and those pricing
programs have been accepted as consistent with the Act.\11\
---------------------------------------------------------------------------

    \11\ For example, MIAX charges $0.55 for executions in the
following penny pilot options: EEM, GLD, IWM, QQQ and SPY (see MIAX
fee schedule). See also CBOE and C2 fee schedules.
---------------------------------------------------------------------------

Change 3
    The Exchange does not believe that increasing the fee for removing
liquidity for Participants that qualify for Tiers 7 and 8 of the
Customer and Professional rebate program places any burden on
competition not necessary or appropriate in furtherance of the purposes
of the Act. In a competitive marketplace such as that for trading of
standardized options, the Exchange is constrained from raising prices
to super-competitive levels by the risk of losing out to better-priced
competitors. The fee increases of $0.02 or $0.01 are modest, and the
resulting fees of $0.50 and $0.48 are below fees charged by other
Exchanges, which have themselves been considered consistent with the
Act. In addition, the fee increase should be read in conjunction with
increased rebates (lower fees) described above that offset the fee
increase and that the Exchange believes are necessary and well-targeted
to increase the overall competitiveness of the market.

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

    No written comments were either solicited or received.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\12\
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------

    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: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) 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-NASDAQ-2015-102 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NASDAQ-2015-102. 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-NASDAQ-2015-102 and should
be submitted on or before October 9, 2015.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------

    \13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2015-23396 Filed 9-17-15; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 88, Number 65 (Wednesday, April 5, 2023)]
[Rules and Regulations]
[Pages 20074-20076]
[FR Doc No: 2023-07050]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 97

[Docket No. 31477; Amdt. No. 4052]

Standard Instrument Approach Procedures, and Takeoff Minimums and
Obstacle Departure Procedures; Miscellaneous Amendments

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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

SUMMARY: This rule amends, suspends, or removes Standard Instrument
Approach Procedures (SIAPs) and associated Takeoff Minimums and
Obstacle Departure Procedures for operations at certain airports. These
regulatory actions are needed because of the adoption of new or revised
criteria, or because of changes occurring in the National Airspace
System, such as the commissioning of new navigational facilities,
adding new obstacles, or changing air traffic requirements. These
changes are designed to provide for the safe and efficient use of the
navigable airspace and to promote safe flight operations under
instrument flight rules at the affected airports.

DATES: This rule is effective April 5, 2023. The compliance date for
each SIAP, associated Takeoff Minimums, and ODP is specified in the
amendatory provisions.
    The incorporation by reference of certain publications listed in
the regulations is approved by the Director of the Federal Register as
of April 5, 2023.

ADDRESSES: Availability of matter incorporated by reference in the
amendment is as follows:

For Examination

    1. U.S. Department of Transportation, Docket Ops-M30, 1200 New
Jersey Avenue SE, West Bldg., Ground Floor, Washington, DC 20590-0001;
    2. The FAA Air Traffic Organization Service Area in which the
affected airport is located;
    3. The office of Aeronautical Information Services, 6500 South
MacArthur Blvd., Oklahoma City, OK 73169 or,
    4. The National Archives and Records Administration (NARA).
    For information on the availability of this material at NARA, email
[email protected] or go to: https://www.archives.gov/federal-register/cfr/ibr-locations.html.

Availability

    All SIAPs and Takeoff Minimums and ODPs are available online free
of charge. Visit the National Flight Data Center online at nfdc.faa.gov
to register. Additionally, individual SIAP and Takeoff Minimums and ODP
copies may be obtained from the FAA Air Traffic Organization Service
Area in which the affected airport is located.

FOR FURTHER INFORMATION CONTACT: Thomas J. Nichols, Flight Procedures
and Airspace Group, Flight Technologies and Procedures Division, Flight
Standards Service, Federal Aviation Administration. Mailing Address:
FAA Mike Monroney Aeronautical Center, Flight Procedures and Airspace
Group, 6500 South MacArthur Blvd., STB Annex, Bldg. 26,

Room 217, Oklahoma City, OK 73099. Telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: This rule amends 14 CFR part 97 by amending
the referenced SIAPs. The complete regulatory description of each SIAP
is listed on the appropriate FAA Form 8260, as modified by the National
Flight Data Center (NFDC)/Permanent Notice to Airmen (P-NOTAM), and is
incorporated by reference under 5 U.S.C. 552(a), 1 CFR part 51, and 14
CFR 97.20. The large number of SIAPs, their complex nature, and the
need for a special format make their verbatim publication in the
Federal Register expensive and impractical. Further, airmen do not use
the regulatory text of the SIAPs, but refer to their graphic depiction
on charts printed by publishers of aeronautical materials. Thus, the
advantages of incorporation by reference are realized and publication
of the complete description of each SIAP contained on FAA form
documents is unnecessary. This amendment provides the affected CFR
sections, and specifies the SIAPs and Takeoff Minimums and ODPs with
their applicable effective dates. This amendment also identifies the
airport and its location, the procedure and the amendment number.

Availability and Summary of Material Incorporated by Reference

    The material incorporated by reference is publicly available as
listed in the ADDRESSES section.
    The material incorporated by reference describes SIAPs, Takeoff
Minimums and ODPs as identified in the amendatory language for Part 97
of this final rule.

The Rule

    This amendment to 14 CFR part 97 is effective upon publication of
each separate SIAP and Takeoff Minimums and ODP as amended in the
transmittal. For safety and timeliness of change considerations, this
amendment incorporates only specific changes contained for each SIAP
and Takeoff Minimums and ODP as modified by FDC permanent NOTAMs.
    The SIAPs and Takeoff Minimums and ODPs, as modified by FDC
permanent NOTAM, and contained in this amendment are based on criteria
contained in the U.S. Standard for Terminal Instrument Procedures
(TERPS). In developing these changes to SIAPs and Takeoff Minimums and
ODPs, the TERPS criteria were applied only to specific conditions
existing at the affected airports. All SIAP amendments in this rule
have been previously issued by the FAA in a FDC NOTAM as an emergency
action of immediate flight safety relating directly to published
aeronautical charts.
    The circumstances that created the need for these SIAP and Takeoff
Minimums and ODP amendments require making them effective in less than
30 days.
    Because of the close and immediate relationship between these
SIAPs, Takeoff Minimums and ODPs, and safety in air commerce, I find
that notice and public procedure under 5 U.S.C. 553(b) are
impracticable and contrary to the public interest and, where
applicable, under 5 U.S.C. 553(d), good cause exists for making these
SIAPs effective in less than 30 days.
    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current.
It, therefore--(1) is not a ``significant regulatory action'' under
Executive Order 12866; (2) is not a ``significant rule'' under DOT
regulatory Policies and Procedures (44 FR 11034; February 26, 1979);
and (3) does not warrant preparation of a regulatory evaluation as the
anticipated impact is so minimal. For the same reason, the FAA
certifies that this amendment will not have a significant economic
impact on a substantial number of small entities under the criteria of
the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 97

    Air Traffic Control, Airports, Incorporation by reference,
Navigation (Air).

    Issued in Washington, DC, on March 3, 2023.
Thomas J Nichols,
Aviation Safety, Flight Standards Service, Manager, Standards Section,
Flight Procedures & Airspace Group, Flight Technologies & Procedures
Division.

Adoption of the Amendment

    Accordingly, pursuant to the authority delegated to me, 14 CFR part
97 is amended by amending Standard Instrument Approach Procedures and
Takeoff Minimums and ODPs, effective at 0901 UTC on the dates
specified, as follows:

PART 97--STANDARD INSTRUMENT APPROACH PROCEDURES

0
1. The authority citation for part 97 continues to read as follows:

    Authority:  49 U.S.C. 106(f), 106(g), 40103, 40106, 40113,
40114, 40120, 44502, 44514, 44701, 44719, 44721-44722.

0
2. Part 97 is amended to read as follows:
    By amending: Sec.  97.23 VOR, VOR/DME, VOR or TACAN, and VOR/DME or
TACAN; Sec.  97.25 LOC, LOC/DME, LDA, LDA/DME, SDF, SDF/DME; Sec.
97.27 NDB, NDB/DME; Sec.  97.29 ILS, ILS/DME, MLS, MLS/DME, MLS/RNAV;
Sec.  97.31 RADAR SIAPs; Sec.  97.33 RNAV SIAPs; and Sec.  97.35 COPTER
SIAPs, Identified as follows:

* * * Effective Upon Publication

--------------------------------------------------------------------------------------------------------------------------------------------------------
      AIRAC date           State              City                 Airport          FDC No.      FDC date                      Subject
--------------------------------------------------------------------------------------------------------------------------------------------------------
20-Apr-23............  IA             Grinnell............  Grinnell Rgnl.......       2/1418      12/8/22  RNAV (GPS) RWY 31, Amdt 1
20-Apr-23............  LA             Lake Charles........  Lake Charles Rgnl...       2/1844     12/19/22  RNAV (GPS) RWY 23, Amdt 1
20-Apr-23............  TN             Sparta..............  Upper Cumberland           2/5202      2/15/23  ILS OR LOC RWY 4, Amdt 1C
                                                             Rgnl.
20-Apr-23............  MA             Boston..............  General Edward             2/5729     12/16/22  ILS OR LOC RWY 4R, ILS RWY 4R (SA CAT I),
                                                             Lawrence Logan Intl.                            ILS RWY 4R (CAT II AND III), Amdt 11
20-Apr-23............  TX             Houston.............  David Wayne Hooks          3/0269       2/3/23  Takeoff Minimums and Obstacle DP, Amdt 3
                                                             Meml.
20-Apr-23............  MN             Tracy...............  Tracy Muni..........       3/1509       2/8/23  RNAV (GPS) RWY 11, Orig-B
20-Apr-23............  MN             Tracy...............  Tracy Muni..........       3/1510       2/8/23  RNAV (GPS) RWY 29, Amdt 1
20-Apr-23............  MI             Gladwin.............  Gladwin Zettel Meml.       3/1512       2/8/23  RNAV (GPS) RWY 27, Orig-C
20-Apr-23............  OH             Toledo..............  Eugene F Kranz             3/1523       2/8/23  ILS Z OR LOC Z RWY 7, Amdt 29A
                                                             Toledo Express.
20-Apr-23............  OH             Bucyrus.............  Port Bucyrus/              3/1540       2/8/23  RNAV (GPS) RWY 4, Orig-A
                                                             Crawford County.
20-Apr-23............  WY             Laramie.............  Laramie Rgnl........       3/1543      2/14/23  RNAV (GPS) RWY 12, Orig-B
20-Apr-23............  SC             Laurens.............  Laurens County......       3/1614       2/8/23  RNAV (GPS) RWY 26, Amdt 1
20-Apr-23............  SC             Laurens.............  Laurens County......       3/1615       2/8/23  RNAV (GPS) RWY 8, Amdt 1

20-Apr-23............  TX             Tyler...............  Tyler Pounds Rgnl...       3/1707       1/6/23  ILS OR LOC RWY 4, Orig
20-Apr-23............  TX             Tyler...............  Tyler Pounds Rgnl...       3/1708       1/6/23  RNAV (GPS) RWY 4, Amdt 4A
20-Apr-23............  TX             Tyler...............  Tyler Pounds Rgnl...       3/1709       1/6/23  VOR RWY 4, Amdt 5B
20-Apr-23............  KY             Hazard..............  Wendell H Ford......       3/1719       2/8/23  RNAV (GPS) RWY 14, Amdt 1D
20-Apr-23............  FL             Apalachicola........  Apalachicola Rgnl-         3/1857       1/6/23  RNAV (GPS) RWY 32, Amdt 2E
                                                             Cleve Randolph Fld.
20-Apr-23............  OK             Enid................  Enid Woodring Rgnl..       3/3127      2/17/23  ILS OR LOC RWY 35, Amdt 7B
20-Apr-23............  WI             Wautoma.............  Wautoma Muni........       3/3132      1/12/23  RNAV (GPS) RWY 31, Orig-A
20-Apr-23............  WI             Wautoma.............  Wautoma Muni........       3/3133      1/12/23  RNAV (GPS) RWY 13, Orig-A
20-Apr-23............  FL             Clewiston...........  Airglades...........       3/3252      1/13/23  RNAV (GPS) RWY 13, Orig-B
20-Apr-23............  FL             Clewiston...........  Airglades...........       3/3253      1/13/23  RNAV (GPS) RWY 31, Orig-A
20-Apr-23............  NY             Syracuse............  Syracuse Hancock           3/5994      2/15/23  RNAV (GPS) Z RWY 10, Amdt 3
                                                             Intl.
20-Apr-23............  CA             Arcata/Eureka.......  California Redwood         3/6152       2/6/23  RNAV (GPS) RWY 1, Amdt 2A
                                                             Coast-Humboldt
                                                             County.
20-Apr-23............  NH             Nashua..............  Boire Fld...........       3/6191      1/23/23  ILS OR LOC RWY 14, Amdt 2
20-Apr-23............  ME             Rangeley............  Stephen A Bean Muni.       3/6292      2/16/23  RNAV (GPS)-D, Amdt 1
20-Apr-23............  TX             El Paso.............  El Paso Intl........       3/7061      1/27/23  VOR RWY 26L, Amdt 32C
20-Apr-23............  CO             Colorado Springs....  City Of Colorado           3/7619      2/24/23  RNAV (GPS) Y RWY 17L, Amdt 3B
                                                             Springs Muni.
20-Apr-23............  CO             Colorado Springs....  City Of Colorado           3/7620      2/24/23  RNAV (GPS) Y RWY 17R, Amdt 3A
                                                             Springs Muni.
20-Apr-23............  CO             Colorado Springs....  City Of Colorado           3/7621      2/24/23  ILS OR LOC RWY 17L, ILS RWY 17L (SA CAT I &
                                                             Springs Muni.                                   II), Amdt 3C
20-Apr-23............  CO             Colorado Springs....  City Of Colorado           3/7635      2/24/23  RNAV (RNP) Z RWY 17R, Amdt 1A
                                                             Springs Muni.
20-Apr-23............  CO             Colorado Springs....  City Of Colorado           3/7639      2/24/23  RNAV (RNP) Z RWY 17L, Amdt 2A
                                                             Springs Muni.
20-Apr-23............  CO             Colorado Springs....  City Of Colorado           3/7641      2/24/23  VOR RWY 17L, Orig
                                                             Springs Muni.
20-Apr-23............  FL             Miami...............  Miami Intl..........       3/7767      2/21/23  ILS OR LOC RWY 30, Amdt 1B
20-Apr-23............  TX             Houston.............  David Wayne Hooks          3/7775      2/21/23  LOC RWY 17R, Amdt 3F
                                                             Meml.
20-Apr-23............  TX             Houston.............  David Wayne Hooks          3/7776      2/21/23  RNAV (GPS) RWY 35L, Amdt 1E
                                                             Meml.
20-Apr-23............  NY             New York............  John F Kennedy Intl.       3/8629      1/31/23  Takeoff Minimums and Obstacle DP, Amdt 9
20-Apr-23............  IL             Bloomington/Normal..  Central Il Rgnl/           3/8684      2/23/23  ILS OR LOC RWY 29, Amdt 11C
                                                             Bloomington-Normal.
--------------------------------------------------------------------------------------------------------------------------------------------------------

[FR Doc. 2023-07050 Filed 4-4-23; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register: January 17, 2008 (Volume 73, Number 12)]
[Notices]
[Page 3304]
[DOCID:fr17ja08-105]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57135; File No. SR-NYSEArca-2006-83]

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting
Approval of Proposed Rule Changes Relating to Amendments to NYSE Arca
Rules 2.17 and 4.5 Relating to Certain OTP Holder and OTP Firm
Administrative Procedures

January 11, 2008.

I. Introduction

    On November 7, 2006, NYSE Arca, Inc. (``NYSE Arca'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'' or ``SEC''), pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4
thereunder,\2\ a proposal to amend its Rules 2.17 and 4.5 relating to
certain OTP Holder and OTP Firm administrative procedures. The proposed
rule change was published for comment in the Federal Register on July
18, 2007.\3\ The Commission received no comments regarding the
proposal. This order approves the proposed rule changes.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 56058 (Jul. 12,
2007), 72 FR 39476.
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II. Description of the Proposal

    NYSE Arca Rule 2.17 currently provides that all Options Trading
Permit (``OTP'') Firms \4\ must file their formation documents with the
Exchange. The Exchange proposes to amend NYSE Arca Rule 2.17 in order
to provide that only those OTP Firms for which the Exchange is the
Designated Examining Authority must submit such formation documents to
the Exchange.
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    \4\ See NYSE Arca Rule 1.1(r).
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    NYSE Arca Rule 4.5(c) currently requires OTP Holders \5\ and OTP
Firms that carry or clear accounts for customers to file two manually
signed copies of Part II of SEC Form X-17A-5 with the Exchange on a
quarterly basis. The Exchange proposes to amend NYSE Arca Rule 4.5(c)
to provide that such reports shall be filed electronically with the
Exchange, rather than manually, and that the OTP Holder or OTP Firm, as
applicable, shall maintain original copies of such reports with manual
signatures in accordance with NYSE Arca Rule 11.16(a).\6\
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    \5\ See NYSE Arca Rule 1.1(q).
    \6\ NYSE Arca Rule 11.16(a) provides that each OTP Holder and
OTP Firm must make, keep current and preserve such books and records
as the Exchange may prescribe and as may be prescribed by the
Securities Exchange Act of 1934 (the ``Exchange Act'') and the rules
and regulations thereunder (including any interpretation relating
thereto) as though such OTP Holder or OTP Firm were a broker or
dealer registered with the SEC pursuant to Section 15 of the
Exchange Act.
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    NYSE Arca Rule 4.5(d) currently requires OTP Holders and OTP Firms
that do not carry or clear accounts for customers to file two manually
signed copies of Part IIA of SEC Form X-17A-5 with the Exchange on a
quarterly basis. The Exchange proposes to amend NYSE Arca Rule 4.5(d)
to provide that such reports shall be filed electronically with the
Exchange, rather than manually, and that the OTP Holder or OTP Firm, as
applicable, shall maintain original copies of such reports with manual
signatures in accordance with NYSE Arca Rule 11.16(a).\7\
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    \7\ Id.
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    The Exchange proposes amending NYSE Arca Rule 4.5(c) and (d) to
codify procedural changes that have been implemented by the Exchange
and to be consistent with guidance that has been provided previously to
OTP Holders and OTP Firms.

III. Discussion

    After careful review and based on the Exchange's representations,
the Commission finds that the proposed rule changes are consistent with
the Act and the rules and regulations applicable to a national
securities exchange.\8\ In particular, the Commission finds that the
proposed rule changes are consistent with Section 6(b)(5) \9\ which
requires, among other things, that the rules of a national securities
exchange be 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, and to remove impediments to and perfect
the mechanism of a free and open market and a national market system.
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    \8\ In approving this proposed rule change, the Commission notes
that it has considered the proposed rule's impact on efficiency,
competition, and capital formation. See 15 U.S.C. 78c(f).
    \9\ 15 U.S.C. 78f(b)(5).
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    The Commission believes it is reasonable and consistent with the
Act for the Exchange to amend NYSE Arca Rules 2.17 and 4.5(c) and (d)
in order to simplify the administrative procedures that OTP Holders and
OTP Firms must follow, given the fact that the Exchange believes that
such amendments will not compromise the Exchange's ability to regulate
its OTP Holders and OTP Firms.

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\10\ that the proposed rule change (SR-NYSEArca-2006-83), as
amended, be, and hereby is, approved.
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    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
Florence E. Harmon,
Deputy Secretary.
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    \11\ 17 CFR 200.30-3(a)(12).
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 [FR Doc. E8-736 Filed 1-16-08; 8:45 am]

BILLING CODE 8011-01-P