[Federal Register: August 18, 2006 (Volume 71, Number 160)]
[Notices]
[Page 47833-47834]
[DOCID:fr18au06-132]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54310; File No. SR-Amex-2006-71]

Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Order Granting Accelerated Approval of Proposed
Rule Change Relating to Floor Broker HandHeld Terminals

August 11, 2006.
    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 August 2, 2006, the American Stock Exchange LLC (``Amex'' 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 substantially prepared by the Exchange.
The Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons and is approving the
proposal on an accelerated basis.
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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 adopt Commentary .02 to Amex Rule 935--
ANTE to clarify that floor brokers, when interacting with orders and
quotes in the ANTE System, are required to use their handheld
terminals.
    The text of the proposed rule change is available on the Exchange's
Web site at (http://www.amex.com), at the principal office of the

Exchange, and at the Commission's Public Reference Room. The text of
the proposed rule change is set forth below. Proposed new language is
italicized.
Rule 935--ANTE. Allocation of Executed Contracts
    (a)-(b) No Change.
Commentary
    .01 No Change
    .02 Floor brokers when interacting with orders and quotes in the
ANTE system are required to use their handheld terminals.
* * * * *

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. The
text of these statements may be examined at the places specified in
Item III 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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to add new Commentary .02 to Amex Rule 935--
ANTE to clarify that Exchange floor brokers are required to use their
handheld terminals when interacting with orders and quotes in accessing
the Exchange's electronic options marketplace or ``ANTE.'' The market
depth at the Exchange in ANTE and the trading crowd may differ, due to
the differences inherent in an automatic execution system and an
auction market. With the recent approval and near-term implementation
of a remote market maker program (i.e., Remote Registered Options
Traders (``RROTs'') and Supplemental Registered Options Traders
(``SROTs'')),\3\ as well as the ``hybrid'' market structure for options
at the Exchange, a floor broker may receive different execution sizes
based on whether the order is routed electronically or walked into the
trading crowd. As a result, the Exchange believes that in order to
maintain a fair and orderly market, a floor broker who desires to
access the ANTE system should be required to use his or her handheld
terminal.
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    \3\ See Securities Exchange Act Release Nos. 53652 (April 13,
2006), 71 FR 20422 (April 20, 2006) and 53635 (April 12, 2006), 71
FR 20144 (April 19, 2006).
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    In today's options marketplace, orders are increasingly routed to
and executed on the Amex and the other options exchanges
electronically. At the Exchange, the ANTE system provides for the
automatic matching and execution of market and marketable limit orders
within eligible size limit parameters (i.e., the ``auto-match size'').
The auto-match size is the maximum order size that can be automatically
matched with orders on the book or the disseminated quote. Orders for
less than the auto-match size are automatically matched at the
disseminated price up to the disseminated size. The ANTE system then
allocates the executed contracts among the participants to the trade,
pursuant to the algorithm set forth in Amex Rule 935--ANTE.
    Floor brokers, in order to receive an ANTE allocation for
transactions in ANTE, are required to use their handheld terminals so
that the order trades against the ANTE Central Book. Floor brokers that
execute orders in the trading crowd are accordingly outside the ANTE
system. Therefore, the ANTE or electronic marketplace and the trading
crowd may have different depth of market at any particular point in
time. The Exchange believes that this is the nature of the ``hybrid''
market model that currently exists. As a result, a floor broker who
desires to access the depth of market available in ANTE by interacting
with orders and quotes, must submit his or her order through the
handheld terminal. Working an order in the trading crowd does not
access the depth of market that may exist in the ANTE system. In
addition, the introduction of RROTs and SROTs further necessitates
direct floor broker access to the ANTE market, since the specialist is
unable to match a trade in the trading crowd with an RROT or SROT
quote. Therefore, the Exchange proposes to adopt Commentary .02 to Amex
Rule 935--ANTE to clarify that a floor broker accessing the electronic
marketplace available through ANTE by interacting with orders and
quotes must submit such order(s) via his or her handheld terminal.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\4\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\5\ in particular, in that it
is designed to prevent fraudulent and manipulative acts and practices,
to

promote just and equitable principles of trade, to remove impediments
to and perfect the mechanisms of a free and open market and a national
market system, and, in general, to protect investors and the public
interest.
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchanges believes that the proposed rule change does not
impose any burden on competition that is 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

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

III. 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-Amex-2006-71 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE., Washington, DC 20549-1090.
    All submissions should refer to File Number SR-Amex-2006-71. 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. Copies of such
filing also will be available for inspection and copying at the
principal office of the Amex. 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-Amex-2006-71 and should be submitted on or before
September 8, 2006.

IV. Commission's Findings and Order Granting Accelerated Approval of
Proposed Rule Change

    The Commission finds that the proposed rule change is consistent
with the requirements of the Act and the rules and regulations
thereunder applicable to a national securities exchange.\6\ In
particular, the Commission finds that the proposed rule change is
consistent with Section 6(b)(5) of the Act,\7\ which requires that an
exchange have rules designed, among other things, to promote just and
equitable principles of trade, to remove impediments to and perfect the
mechanisms of a free and open market and a national market system, and,
in general, to protect investors and the public interest. The
Commission believes that the proposal should help to promote just and
equitable principles of trade and remove impediments to and perfect the
mechanisms of a free and open market by clarifying current requirements
for floor broker access to the liquidity on ANTE, the Exchange's
electronic options marketplace.
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    \6\ In approving this 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).
    \7\ 15 U.S.C. 78f(b)(5).
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    The Commission finds good cause for approving this proposed rule
change before the thirtieth day after the publication of notice thereof
in the Federal Register pursuant to Section 19(b)(2) of the Act.\8\ The
proposal does not raise any new or novel regulatory issues and merely
codifies a current requirement for floor broker access to ANTE.
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    \8\ 15 U.S.C. 78s(b)(2).
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V. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\9\ that the proposed rule change (SR-Amex-2006-71) is hereby
approved on an accelerated basis.
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    \9\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
 [FR Doc. E6-13637 Filed 8-17-06; 8:45 am]

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[Federal Register Volume 86, Number 181 (Wednesday, September 22, 2021)]
[Rules and Regulations]
[Pages 52603-52604]
[FR Doc No: 2021-20364]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2021-0518; Airspace Docket No. 21-ASW-12]
RIN 2120-AA66

Amendment of Class E Airspace; Oklahoma City, OK

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This action amends the Class E airspace at Sundance Airport,
Oklahoma City, OK. This action is the result of an airspace review due
to the decommissioning of the Sundance Localizer (LOC).

DATES: Effective 0901 UTC, December 2, 2021. The Director of the
Federal Register approves this incorporation by reference action under
1 CFR part 51, subject to the annual revision of FAA Order JO 7400.11
and publication of conforming amendments.

ADDRESSES: FAA Order JO 7400.11F, Airspace Designations and Reporting
Points, and subsequent amendments can be viewed online at https://www.faa.gov/air_traffic/publications/. For further information, you can
contact the Airspace Policy Group, Federal Aviation Administration, 800
Independence Avenue SW, Washington, DC 20591; telephone: (202) 267-
8783. The Order is also available for inspection at the National
Archives and Records Administration (NARA). For information on the
availability of FAA Order JO 7400.11F at NARA, email:
<EMAIL_ADDRESS>or go to https://www.archives.gov/federal-register/cfr/ibr-locations.html.

FOR FURTHER INFORMATION CONTACT: Jeffrey Claypool, Federal Aviation
Administration, Operations Support Group, Central Service Center, 10101
Hillwood Parkway, Fort Worth, TX 76177; telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Authority for This Rulemaking

    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the United States Code. 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. This rulemaking is promulgated under the authority described
in Subtitle VII, Part A, Subpart I, Section 40103. Under that section,
the FAA is charged with prescribing regulations to assign the use of
airspace necessary to ensure the safety of aircraft and the efficient
use of airspace. This regulation is within the scope of that authority
as it amends the Class E airspace extending upward from 700 feet above
the surface at Sundance Airport, Oklahoma City, OK, to support
instrument flight rule operations at these airports.

History

    The FAA published a notice of proposed rulemaking in the Federal
Register (86 FR 34168; June 29, 2021) for Docket No. FAA-2021-0518 to
amend the Class E airspace at Sundance Airport, Oklahoma City, OK.
Interested parties were invited to participate in this rulemaking
effort by submitting written comments on the proposal to the FAA. No
comments were received.
    Class E airspace designations are published in paragraph 6005 of
FAA Order JO 7400.11F, dated August 10, 2021, and effective September
15, 2021, which is incorporated by reference in 14 CFR 71.1. The Class
E airspace designations listed in this document will be published
subsequently in the Order.

Availability and Summary of Documents for Incorporation by Reference

    This document amends FAA Order JO 7400.11F, Airspace Designations
and Reporting Points, dated August 10, 2021, and effective September
15, 2021. FAA Order JO 7400.11F is publicly available as listed in the
ADDRESSES section of this document. FAA Order JO 7400.11F lists Class
A, B, C, D, and E airspace areas, air traffic service routes, and
reporting points.

The Rule

    This amendment to 14 CFR part 71 amends the Class E airspace
extending upward from 700 feet above the surface to within a 6.5-mile
(decreased from a 6.8-mile) radius of Sundance Airport, Oklahoma City,
OK.
    This action is the result of an airspace review caused by the
decommissioning of the Sundance LOC which provided guidance to
instrument procedures at this airport.
    FAA Order JO 7400.11, Airspace Designations and Reporting Points,
is published yearly and effective on September 15.

Regulatory Notices and Analyses

    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, is
non-controversial and unlikely to result in adverse or negative
comments. 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. Since this is a routine matter
that only affects air traffic procedures and air navigation, it is
certified that this rule, when promulgated, does not have a significant
economic impact on a substantial number of small entities under the
criteria of the Regulatory Flexibility Act.

Environmental Review

    The FAA has determined that this action qualifies for categorical
exclusion under the National Environmental Policy Act in accordance
with FAA Order 1050.1F, ``Environmental Impacts: Policies and
Procedures,'' paragraph 5-6.5.a. This airspace action is not expected
to cause any potentially significant environmental impacts, and no
extraordinary circumstances exist that warrant preparation of an
environmental assessment.

Lists of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

Adoption of the Amendment

    In consideration of the foregoing, the Federal Aviation
Administration amends 14 CFR part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

0
1. The authority citation for part 71 continues to read as follows:

    Authority: 49 U.S.C. 106(f), 106(g); 40103, 40113, 40120; E.O.
10854, 24 FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1  [Amended]

0
2. The incorporation by reference in 14 CFR 71.1 of FAA Order JO
7400.11F, Airspace Designations and Reporting Points, dated August 10,
2021, and effective September 15, 2021, is amended as follows:

Paragraph 6005 Class E Airspace Areas Extending Upward From 700
Feet or More Above the Surface of the Earth.

* * * * *

ASW OK E5 Oklahoma City, OK [Amended]

Will Rogers World Airport, OK
    (Lat. 35[deg]23'35'' N, long. 97[deg]36'03'' W)
Tinker AFB, OK
    (Lat. 35[deg]24'53'' N, long. 97[deg]23'12'' W)
University of Oklahoma Westheimer Airport, OK
    (Lat. 35[deg]14'44'' N, long. 97[deg]28'20'' W)
David Jay Perry Airport, OK
    (Lat. 35[deg]09'18'' N, long. 97[deg]28'13'' W)
Clarence E. Page Municipal Airport, OK
    (Lat. 35[deg]29'17'' N, long. 97[deg]49'25'' W)
El Reno Regional Airport, OK
    (Lat. 35[deg]28'22'' N, long. 98[deg]00'21'' W)
Wiley Post Airport, OK
    (Lat. 35[deg]32'03'' N, long. 97[deg]38'49'' W)
Sundance Airport, OK
    (Lat. 35[deg]36'07'' N, long. 97[deg]42'22'' W)

    That airspace extending upward from 700 feet above the surface
within an 8.1-mile radius of Will Rogers World Airport, and within
an 8.2-mile radius of Tinker AFB, and within a 6.7-mile radius of
University of Oklahoma Westheimer Airport, and within 2.0 miles each
side of the 213[deg] bearing from the airport extending from the
6.7-mile radius to 7.8 miles southwest of the airport, and within a
6.3-mile radius of David Jay Perry Airport, and within a 6.5-mile
radius of Clarence E. Page Municipal Airport, and within a 6.6-mile
radius of El Reno Regional Airport, and within a 6.8-mile radius of
Wiley Post Airport, and within a 6.5-mile radius of Sundance
Airport.

    Issued in Fort Worth, Texas, on September 16, 2021.
Martin A. Skinner,
Acting Manager, Operations Support Group, ATO Central Service Center.
[FR Doc. 2021-20364 Filed 9-21-21; 8:45 am]
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