[Federal Register Volume 78, Number 81 (Friday, April 26, 2013)]
[Notices]
[Pages 24754-24755]
[FR Doc No: 2013-09872]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2011-D-0800]

Guidance for Industry on Regulatory Classification of
Pharmaceutical Co-Crystals; Availability

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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SUMMARY: The Food and Drug Administration (FDA) is announcing the
availability of a guidance for industry entitled ``Regulatory
Classification of Pharmaceutical Co-Crystals.'' This guidance provides
applicants of new drug applications (NDAs) and abbreviated new drug
applications (ANDAs) with the Center for Drug Evaluation and Research's
(CDER's) current thinking on the appropriate regulatory classification
of pharmaceutical co-crystal solid-state forms. This guidance also
provides information about the data the applicant should submit to
support the appropriate classification of a co-crystal, as well as the
regulatory implications of the classification.
    The recommendations in this guidance apply to materials that the
Agency has not previously evaluated and determined to be pharmaceutical
co-crystals. The recommendations do not apply to materials that the
Agency has previously designated as salts, complexes, or other non-co-
crystalline forms.

DATES: Submit either electronic or written comments on Agency guidances
at any time.

ADDRESSES: Submit written requests for single copies of this guidance
to the Division of Drug Information, Center for Drug Evaluation and
Research, Food and Drug Administration, 10903 New Hampshire Ave., Bldg.
51, rm. 2201, Silver Spring, MD 20993-0002. Send one self-addressed
adhesive label to assist that office in processing your requests. See
the SUPPLEMENTARY INFORMATION section for electronic access to the
guidance document.
    Submit electronic comments on the guidance to http://www.regulations.gov. Submit written comments to the Division of Dockets
Management (HFA-305), Food and Drug Administration, 5630 Fishers Lane,
rm. 1061, Rockville, MD 20852.

FOR FURTHER INFORMATION CONTACT:

Andre Raw, Center for Drug Evaluation and Research, Food and Drug
Administration, Metro Park North II, 7500 Standish Pl., Rockville, MD
20855,<PHONE_NUMBER>; or
Richard Lostritto, Center for Drug Evaluation and Research, Food and
Drug Administration, Bldg. 21, rm. 1626, 10903 New Hampshire Ave.,
Silver Spring, MD 20993,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Background

    FDA is announcing the availability of a guidance for industry
entitled ``Regulatory Classification of Pharmaceutical Co-Crystals.''
This guidance provides applicants of NDAs and ANDAs with CDER's current
thinking on the appropriate regulatory classification of pharmaceutical
co-crystal solid-state forms. This guidance also provides information
about the data the applicant should submit to support the appropriate
classification of a co-crystal, as well as the regulatory implications
of the classification.
    On December 2, 2011 (76 FR 75551), FDA announced the availability
of the draft version of this guidance. The public comment period closed
on March 1, 2012. A number of comments were received from the public,
all of which the Agency considered carefully as it finalized the
guidance and made appropriate changes. Any changes to the guidance were
minor and made to clarify statements in the draft guidance.
    Co-crystals are solids that are crystalline materials composed of
two or more molecules in the same crystal lattice. These solid-state
forms, composed of an active pharmaceutical ingredient (API) with a
neutral guest compound (also referred to as a conformer), have been the
focus of significant interest in drug product development.
Pharmaceutical co-crystals have opened the opportunity for engineering
solid-state forms designed to have tailored properties to enhance drug
product bioavailability and stability, as well as enhance
processability of the solid material inputs in drug product
manufacture. Pharmaceutical co-crystals are of interest because they
offer the advantage of generating a diverse array of solid-state forms
from APIs that lack ionizable functional groups needed for salt
formation.
    Traditionally, solid-state polymorphic forms of an API are
classified as either crystalline, amorphous, or solvate and hydrate
forms, and applicable regulatory schemes for these solid-state
polymorphic forms are well-defined. Co-crystals, however, are
distinguishable from these traditional pharmaceutical solid-state
forms. Unlike

polymorphs, which generally speaking contain only the API within the
crystal lattice, co-crystals are composed of an API with a neutral
guest compound in the crystal lattice. Similarly, unlike salts, where
the components in the crystal lattice are in an ionized state, a co-
crystal's components are in a neutral state and interact via nonionic
interactions.
    At present, no formal regulatory policy exists governing the
classification of pharmaceutical co-crystals. In response to this need
for regulatory guidance, the guidance provides the Agency's current
thinking on the appropriate classification of co-crystal solid-state
forms.
    This guidance is being issued consistent with FDA's good guidance
practices regulation (21 CFR 10.115). The guidance represents the
Agency's current thinking on regulatory classification of
pharmaceutical co-crystals. It does not create or confer any rights for
or on any person and does not operate to bind FDA or the public. An
alternative approach may be used if such approach satisfies the
requirements of the applicable statutes and regulations.

II. Comments

    Interested persons may submit either written comments regarding
this document to the Division of Dockets Management (see ADDRESSES) or
electronic comments to http://www.regulations.gov. It is only necessary
to send one set of comments. Identify comments with the docket number
found in brackets in the heading of this document. Received comments
may be seen in the Division of Dockets Management between 9 a.m. and 4
p.m., Monday through Friday, and will be posted to the docket at http://www.regulations.gov.

III. The Paperwork Reduction Act of 1995

    This guidance refers to previously approved collections of
information found in FDA regulations. This guidance refers to
information collection provisions that are subject to review by the
Office of Management and Budget (OMB) under the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501-3520). The collections of information in 21 CFR
314.50(d)(1) and 314.94(a)(5) and 314.94(a)(9) have been approved under
OMB control number 0910-0001. The collections of information in the
current good manufacturing practice (CGMP) regulations (21 CFR part
211) have been approved under OMB control number 0910-0139.

IV. Electronic Access

    Persons with access to the Internet may obtain the document at
either http://www.fda.gov/Drugs/GuidanceComplianceRegulatoryInformation/Guidances/default.htm or http://www.regulations.gov.

    Dated: April 22, 2013.
Leslie Kux,
Assistant Commissioner for Policy.
[FR Doc. 2013-09872 Filed 4-25-13; 8:45 am]
BILLING CODE 4160-01-P


[Federal Register Volume 83, Number 96 (Thursday, May 17, 2018)]
[Notices]
[Pages 23009-23014]
[FR Doc No: 2018-10502]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83219; File No. SR-NYSEAMER-2018-19]

Self-Regulatory Organizations; NYSE American LLC; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Provide
Users With Connectivity to Three Additional Third Party Data Feeds and
To Change the NYSE American Equities Price List and the NYSE American
Options Fee Schedule Related to These Co-Location Services

May 11, 2018.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that on April 30, 2018, NYSE American LLC (``NYSE American'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I
and II below, which Items have been prepared by the self-regulatory
organization. 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\ 15 U.S.C. 78a.
    \3\ 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 provide Users with connectivity to three
additional third party data feeds and to change the NYSE American
Equities Price List (``Price List'') and the NYSE American Options Fee
Schedule (``Fee Schedule'') related to these co-location services.
Additionally, the Exchange proposes to make non-substantive corrections
to the Price List and Fee Schedule. 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 to amend the co-location \4\ services offered
by the Exchange to provide Users \5\ with connectivity to three
additional third party data feeds and change its Price List and Fee
Schedule related to these co-location services. Additionally, the
Exchange proposes to make non-substantive corrections to the Price List
and Fee Schedule.
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    \4\ The Exchange initially filed rule changes relating to its
co-location services with the Commission in 2010. See Securities
Exchange Act Release No. 62961 (September 21, 2010), 75 FR 59299
(September 27, 2010) (SR-NYSEAmex-2010-80). The Exchange operates a
data center in Mahwah, New Jersey (the ``data center'') from which
it provides co-location services to Users.
    \5\ For purposes of the Exchange's co-location services, a
``User'' means any market participant that requests to receive co-
location services directly from the Exchange. See Securities
Exchange Act Release No. 76009 (September 29, 2015), 80 FR 60213
(October 5, 2015) (SR-NYSEMKT-2015-67). As specified in the Price
List and Fee Schedule, a User that incurs co-location fees for a
particular co-location service pursuant thereto would not be subject
to co-location fees for the same co-location service charged by the
Exchange's affiliates New York Stock Exchange LLC (``NYSE'') and
NYSE Arca, Inc. (``NYSE Arca'' and, together with NYSE, the
``Affiliate SROs''). See Securities Exchange Act Release No. 70176
(August 13, 2013), 78 FR 50471 (August 19, 2013) (SR-NYSEMKT-2013-
67).
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Third Party Data Feeds
    The Exchange charges fees for connectivity to data feeds from third
party markets and other content service providers (``Third Party Data
Feeds'').\6\ The list of the Third Party Data Feeds and related
connectivity fees is set forth in the Price List and Fee Schedule. The
Exchange proposes to add three ICE Data Services Consolidated Feed
Shared Farm feeds (the ``Additional Third Party Data Feeds'') to the
list of Third Party Data Feeds.
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    \6\ See Securities Exchange Act Release No. 80309 (March 24,
2017), 82 FR 15725 (March 30, 2017) (SR-NYSEMKT-2016-63).
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    The Additional Third Party Data Feeds are produced by an entity
owned by the Exchange's ultimate parent, Intercontinental Exchange,
Inc. (``ICE''), and so the Exchange has an indirect interest in the
Additional Third Party Data Feeds. The Additional Third Party Data
Feeds include data drawn from the Exchange, the Affiliate SROs, and
third party exchanges, including stock and futures exchanges. Because
it includes third party data, the Additional Third Party Data Feeds are
considered Third Party Data Feeds.\7\
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    \7\ Id., at 15733.
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    The list of available Third Party Data Feeds presently includes
three ICE Data Services Consolidated Feeds.\8\ The Additional Third
Party Data Feeds are similar to the previously filed ICE Data Services
Consolidated Feeds in terms of the underlying content, which, according
to the content service provider, includes normalized, real-time and
intraday data feeds from over 600 sources. The difference between them
lies with what data a User actually receives.
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    \8\ Id.
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    More specifically, when a User requests connectivity to one of the
previously filed ICE Data Services Consolidated Feeds, it receives
connectivity to all the data in the relevant ICE Data Services
Consolidated Feeds. The User uses its processor to narrow down the feed
to the specific data it wants. In contrast, when a User requests
connectivity to an Additional Third Party Data Feed, it will specify to
the content service provider what specific information, out of the data
from the roughly 600 sources, it wants to receive. The content service
provider will use its own processor to narrow down the data feeds, so
that the User will only receive the information it requests. A User may
choose whether it wants connectivity to one of the previously filed ICE
Data Services Consolidated Feeds or to one of the Additional Third
Party Data Feeds based on whether it wants to process the data, and
what level of control it wants over the processing. In both cases, the
User will only receive data the relevant third party data provider
authorizes it to receive.
    As it does with the existing Third Party Data Feeds, the Exchange
proposes to charge a monthly recurring fee for connectivity to each
Additional Third Party Data Feed. The monthly recurring fee would vary
by the bandwidth of the connection. Accordingly, the Exchange proposes
to revise the Price List and Fee Schedule to provide that Users may
obtain connectivity to the Additional Third Party Data Feeds for a
monthly fee, as follows:

------------------------------------------------------------------------
                                                              Monthly
                                                             recurring
                                                           connectivity
                  Third party data feed                    fee per third
                                                            party data
                                                               feed
------------------------------------------------------------------------
ICE Data Services Consolidated Feed Shared Farm <=100 Mb            $200
ICE Data Services Consolidated Feed Shared Farm >100 Mb              500
 to <=1 Gb..............................................
ICE Data Services Consolidated Feed Shared Farm >1 Gb...           1,000
------------------------------------------------------------------------

    Depending on its needs and bandwidth, a User may opt to receive all
or some of the feeds or services included in the Additional Third Party
Data Feeds.
    The Exchange would provide connectivity to the Additional Third
Party Data Feeds (``Connectivity'') as a convenience to Users. Use of
Connectivity would be completely voluntary. The Exchange is not aware
of any impediment to third parties offering Connectivity.
    The Exchange does not have visibility into whether third parties
currently offer, or intend to offer, Users connectivity to the
Additional Third Party Data Feeds, as such third parties are not
required to make that information public. However, if one or more third
parties presently offer, or in the future opt to offer, such
Connectivity to Users, a User may utilize the Secure Financial
Transaction Infrastructure (``SFTI'') network, a third party
telecommunication network, third party wireless network, a cross
connect, or a combination thereof to access such services and products
through a connection to an access center outside the data center (which
could be a SFTI access center, a third-party access center, or both),
another User, or a third party vendor.
    The Exchange would receive the Additional Third Party Data Feeds
from the content service provider, at its data center. It would then
provide connectivity to that data to Users for a fee. Users would
connect to the Additional Third Party Data Feeds over the internet
protocol (``IP'') network, a local area network available in the data
center.
    In order to connect to an Additional Third Party Data Feed, a User
would enter into a contract with the content service provider, pursuant
to which the content service provider would charge the User for the
Third Party Data Feed. The Exchange would receive the Additional Third
Party Data Feed over its fiber optic network and, after the content
service provider and User entered into the contract and the Exchange
received authorization from the content service provider, the Exchange
would re-transmit the data to the User over the User's port. The
Exchange would charge the User for the connectivity to the Additional
Third Party Data Feed. A User would only receive, and would only be
charged for, connectivity to the Additional Third Party Data Feed for
which it entered into contracts.
    The Exchange would have no right to use an Additional Third Party
Data Feed other than as a redistributor of the data. The Additional
Third Party Data Feeds would not provide access or order entry to the
Exchange's execution system. The Additional Third Party Data Feeds
would not provide access or order entry to the execution systems of the
party generating the feed. The Exchange would receive the Additional
Third Party Data Feeds via arms-length agreements and it would have no
inherent advantage over any other distributor of such data.
Additional Changes
    The Exchange proposes to make additional, non-substantive changes
to add definitions, remove obsolete text and update third party
exchange names (collectively, the ``Non-Substantive Changes''). The
proposed additional changes would have no effect on pricing.
General Note 1
    General Note 1 in the Price List and Fee Schedule references the
Affiliate SROs. The Exchange proposes to add short-hand definitions of
each of the Affiliate SROs, which terms are used later in the Price
List and Fee Schedule. The revised references would be to ``New York
Stock Exchange LLC (NYSE) and NYSE Arca, Inc. (NYSE Arca).''
Cabinet Upgrade Fee
    The Exchange offers Users the option of a ``Cabinet Upgrade'' and
related fee, pursuant to which the Exchange accommodates requests for
additional power allocation beyond the typical amount that the Exchange
allocates per dedicated cabinet, at which point the Exchange must
upgrade the cabinet's power capacity.\9\ The Cabinet Upgrade Fee in the
Price List and Fee Schedule has a parenthetical setting forth lower
fees for a User that submits a written order for a Cabinet Upgrade by
January 31, 2014, provided that the Cabinet Upgrade becomes fully
operational by March 31, 2014. For the avoidance of confusion, the
Exchange proposes to put the text in the past tense. Accordingly, the
parenthetical would read as follows: ``($4,600 for a User that
submitted a written order for a Cabinet Upgrade by January 31, 2014,
provided that the Cabinet Upgrade became fully operational by March 31,
2014)''.
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    \9\ See Securities Exchange Act Release No. 71131 (December 18,
2013), 78 FR 77750 (December 24, 2013) (SR-NYSEMKT-2013-103). Users
may develop their hardware infrastructure within a particular
cabinet in such a way that, if expansion of such hardware is needed,
it can be accomplished within the space constraints of that
particular cabinet. If this type of User requires additional power
allocation, it would likely want to modify its existing cabinet in
this manner, rather than taking an additional dedicated cabinet due
to the expense of re-developing its infrastructure within such
additional dedicated cabinet. See id.
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Hosting Fees
    A User may provide hosting services to its customers in the User's
co-location space at the data center. In 2015, the Exchange modified
the Hosting Fee to provide that, effective January 1, 2016, the Hosting
Fee increased from $500 to $1,000 and would be assessed to a Hosting
User on a per Hosted Customer basis and for each cabinet in which the
Hosting User hosts the Hosted Customer.\10\
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    \10\ As stated in the Price List, ``Hosting User'' means a User
that hosts a Hosted Customer in the User's co-location space, and
``Hosted Customer'' means a customer of a Hosting User that is
hosted in a Hosting User's co-location space. See 80 FR 60213, supra
note 5.
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    The Price List and Fee Schedule continue to include both the
Hosting Fee that was in effect through December 31, 2015 and the date
of the change. The Exchange proposes to delete the obsolete references
to these dates and the amount of the previous hosting fee. The amended
text would be as follows (additional text underscored, deletions in
strikethrough):

[GRAPHIC] [TIFF OMITTED] TN17MY18.003

Obsolete Availability Dates and Exchange References
    Certain services in the data center that are described in the Price
List and Fee Schedule identify dates by which they were expected to be
available. These dates have passed. Accordingly, the Exchange proposes
to eliminate the obsolete references to these dates. In addition, the
Exchange proposes to update the references to certain exchanges that
have changed their names.\11\
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    \11\ See Securities Exchange Act Release No. 81962 (October 26,
2017), 82 FR 50711, 50713 (November 1, 2017) (SR-BatsBZX-2017-70).
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    To that end, the Exchange proposes to make the following changes:
     For the wireless connection of Bats Pitch BZX Gig shaped
data and Bats Pitch BYX Gig shaped data, the description would be
revised as follows: (a) The text would read ``Wireless connection of
Cboe Pitch BZX Gig shaped data and Cboe Pitch BYX Gig shaped data'';
and (b) the text ``Note: Connection to Bats Pitch BYX Gig shaped data
is expected to be available no later than December 31, 2016.'' would be
deleted.
     For the wireless connection of Bats EDGX Gig shaped data
and Bats EDGA Gig shaped data, the description would be revised as
follows: (a) The text would read ``Wireless connection of Cboe EDGX Gig
shaped data and Cboe EDGA Gig shaped data''; and (b) the text ``Note:
Connection to Bats EDGA Gig shaped data is expected to be available no
later than December 31, 2016.'' would be deleted.
     For the wireless connection of Toronto Stock Exchange
(TSX), the text ``Note: Service is expected to be available no later
than June 30, 2017.'' would be deleted.
     In the table under ``Third Party Data Feeds,'' ``Bats BZX
Exchange (BZX) and Bats BYX Exchange (BYX)'' and ``Bats EDGX Exchange
(EDGX) and Bats EDGA Exchange (EDGA)'' and their related monthly
recurring connectivity fees would be deleted, and lines for ``Cboe BZX
Exchange (CboeBZX) and Cboe BYX Exchange (CboeBYX)'' and ``Cboe EDGX
Exchange (CboeEDGX) and Cboe EDGA Exchange (CboeEDGA)'' added with
their related monthly recurring connectivity fees, which would remain
unchanged, as follows (additional text underscored, deletions in
strikethrough):
[GRAPHIC] [TIFF OMITTED] TN17MY18.004

General
    As is the case with all Exchange co-location arrangements, (i)
neither a User nor any of the User's customers would be permitted to
submit orders directly to the Exchange unless such User or customer is
a member organization, a Sponsored Participant or an agent thereof
(e.g., a service bureau providing order entry services); (ii) use of
the co-location services proposed herein would be completely voluntary
and available to all Users on a non-discriminatory basis; \12\ and
(iii) a User would only incur one charge for the particular co-location
service described herein, regardless of whether the User connects only
to the Exchange or to the Exchange and one or both the Affiliate
SROs.\13\
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    \12\ As is currently the case, Users that receive co-location
services from the Exchange will not receive any means of access to
the Exchange's trading and execution systems that is separate from,
or superior to, that of other Users. In this regard, all orders sent
to the Exchange enter the Exchange's trading and execution systems
through the same order gateway, regardless of whether the sender is
co-located in the data center or not. In addition, co-located Users
do not receive any market data or data service product that is not
available to all Users, although Users that receive co-location
services normally would expect reduced latencies in sending orders
to, and receiving market data from, the Exchange.
    \13\ See 78 FR 50471, supra note 5, at 50471. The Affiliate SROs
have also submitted substantially the same proposed rule change to
propose the changes described herein. See SR-NYSE-2018-20 and SR-
NYSEArca-2018-28.
---------------------------------------------------------------------------

    The proposed change is not otherwise intended to address any other
issues relating to co-location services and/or related fees, and the
Exchange is not aware of any problems that Users would have in
complying with the proposed change.
2. Statutory Basis
    The Exchange believes that the proposed fee change is consistent
with Section 6(b) of the Act,\14\ in general, and furthers the
objectives of Sections 6(b)(5) of the Act,\15\ 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 regulating,
clearing, settling, processing information with respect to, and
facilitating transactions in securities, 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
and because it is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78f(b).
    \15\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed changes would remove
impediments to, and perfect the mechanisms of, a free and open market
and a national market system and, in general, protect investors and the
public interest because, by offering additional connectivity to the
Additional Third Party Data Feeds, the Exchange would give each User
additional options for addressing its connectivity needs, responding to
User demand for connectivity options. Providing the connectivity to the
Additional Third Party Data Feeds would help each User tailor its data
center operations to the requirements of its business operations by
allowing it to select the form and latency of connectivity that best
suits its needs.
    The Exchange would provide Connectivity as a convenience to Users.
Use of Connectivity would be completely voluntary. The Exchange is not
aware of any impediment to third parties offering Connectivity. The
Exchange does not have visibility into whether third parties currently
offer, or intend to offer, Users connectivity to the Additional Third
Party Data Feeds. However, if one or more third parties presently
offer, or in the future opt to offer, such Connectivity to Users, a
User may utilize the SFTI network, a third party telecommunication
network, third party wireless network, a cross connect, or a
combination thereof to access such services and products through a
connection to an access center outside the data center (which could be
a SFTI access center, a third-party access center, or both), another
User, or a third party vendor.
    The Exchange believes that the proposed changes would remove
impediments to, and perfect the mechanisms of, a free and open market
and a national market system and, in general, protect investors and the
public interest because, by offering connectivity to the Additional
Third Party Data Feed to Users, the Exchange would give Users
additional options for connectivity to new services, responding to User
demand for connectivity options.
    The Exchange believes that the proposed Non-Substantive Changes
would remove impediments to, and perfect the mechanisms of, a free and
open market and a national market system and, in general, protect
investors and the public interest because the changes would clarify
Exchange rules and alleviate any possible market participant confusion
caused by the obsolete dates and exchange names.
    The Exchange also believes that the proposed fee change is
consistent with Section 6(b)(4) of the Act,\16\ in particular, because
it provides for the equitable allocation of reasonable dues, fees, and
other charges among its members, issuers and other persons using its
facilities and does not unfairly discriminate between customers,
issuers, brokers or dealers.
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

    The Exchange believes that the proposed fee changes are consistent
with Section 6(b)(4) of the Act for multiple reasons. The Exchange
operates in a highly competitive market in which exchanges offer co-
location services as a means to facilitate the trading and other market
activities of those market participants who believe that co-location
enhances the efficiency of their operations. Accordingly, fees charged
for co-location services are constrained by the active competition for
the order flow of, and other business from, such market participants.
If a particular exchange charges excessive fees for co-location
services, affected market participants will opt to terminate their co-
location arrangements with that exchange, and adopt a possible range of
alternative strategies, including placing their servers in a physically
proximate location outside the exchange's data center (which could be a
competing exchange), or pursuing strategies less dependent upon the
lower exchange-to-participant latency associated with co-location.
Accordingly, the exchange charging excessive fees would stand to lose
not only co-location revenues but also the liquidity of the formerly
co-located trading firms, which could have additional follow-on effects
on the market share and revenue of the affected exchange.
    The Exchange believes that the additional services and fees
proposed herein would be equitably allocated and not unfairly
discriminatory because, in addition to the services being completely
voluntary, they would be available to all Users on an equal basis
(i.e., the same products and services would be available to all Users).
All Users that voluntarily selected to receive Connectivity would be
charged the same amount for the same services. Users that opted to use
Connectivity would not receive connectivity that is not available to
all Users, as all market participants that contracted with the relevant
content provider would receive connectivity.
    The Exchange believes that the proposed charges would be
reasonable, equitably allocated and not unfairly discriminatory because
the Exchange would offer the Connectivity as conveniences to Users, but
in order to

do so must provide, maintain and operate the data center facility
hardware and technology infrastructure. The Exchange must handle the
installation, administration, monitoring, support and maintenance of
such services, including by responding to any production issues. Since
the inception of co-location, the Exchange has made numerous
improvements to the network hardware and technology infrastructure and
has established additional administrative controls. The Exchange has
expanded the network infrastructure to keep pace with the increased
number of services available to Users, including resilient and
redundant feeds. In addition, in order to provide Connectivity, the
Exchange would maintain multiple connections to each Additional Third
Party Data Feed, allowing the Exchange to provide resilient and
redundant connections; adapt to any changes made by the relevant third
party; and cover any applicable fees charged by the relevant third
party, such as port fees. In addition, Users would not be required to
use any of their bandwidth for Connectivity unless they wish to do so.
    The Exchange believes the proposed fee for connectivity to each
Additional Third Party Data Feed is reasonable because the proposed
monthly recurring fee varies by the bandwidth of the connection, and so
is generally proportional to the bandwidth required. In addition, the
proposed fees are consistent with the fees for connectivity to the
previously filed ICE Data Services Consolidated Feeds, which feeds are
similar to the Additional Third Party Data Feeds in terms of the
underlying content. The Exchange notes that the proposed monthly
recurring fees are also generally consistent with the monthly recurring
fees for connectivity to the SR Labs-SuperFeed Third Party Data Feeds,
which also vary by bandwidth. The Exchange believes that the proposed
difference in pricing between the Additional Third Party Data Feeds and
SR Labs-SuperFeed options is reasonable, equitably allocated and not
unfairly discriminatory because, although the bandwidth may be similar,
the competitive considerations and the costs the Exchange incurs in
providing such connections may differ.
    The Exchange believes the proposed fees for Connectivity would be
reasonable because they would allow the Exchange to defray or cover the
costs associated with offering Users connectivity to Additional Third
Party Data Feeds while providing Users the convenience of receiving
such Connectivity within co-location, helping them tailor their data
center operations to the requirements of their business operations.
    The Exchange believes that the proposed Non-Substantive Changes
would be reasonable because the changes would have no impact on
pricing. Rather, the changes would remove obsolete text and update
references, thereby clarifying the Exchange rules and alleviating
possible market participant confusion.
    For the reasons above, the proposed changes would not unfairly
discriminate between or among market participants that are otherwise
capable of satisfying any applicable co-location fees, requirements,
terms and conditions established from time to time by the Exchange.
    For these reasons, the Exchange believes that the proposal is
consistent with the Act.

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

    In accordance with Section 6(b)(8) of the Act,\17\ the Exchange
believes that the proposed rule change will not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act because all of the proposed services are completely
voluntary.
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    \17\ 15 U.S.C. 78f(b)(8).
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    The Exchange believes that providing Users with additional options
for connectivity to new services would not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act because such proposed Connectivity would satisfy
User demand for connectivity options. The Exchange would provide
Connectivity as a convenience equally to all Users. All Users that
voluntarily selected to receive Connectivity would be charged the same
amount for the same services.
    The Exchange does not have visibility into whether third parties
currently offer, or intend to offer, Users connectivity to the
Additional Third Party Data Feeds, as such third parties are not
required to make that information public. However, if one or more third
parties presently offer, or in the future opt to offer, such
Connectivity to Users, a User may utilize the SFTI network, a third
party telecommunication network, third party wireless network, a cross
connect, or a combination thereof to access such services and products
through a connection to an access center outside the data center (which
could be a SFTI access center, a third-party access center, or both),
another User, or a third party vendor. Users that opt to use the
proposed Connectivity would not receive connectivity that is not
available to all Users, as all market participants that contract with
the content provider may receive connectivity. In this way, the
proposed changes would enhance competition by helping Users tailor
their Connectivity to the needs of their business operations by
allowing them to select the form and latency of connectivity that best
suits their needs.
    The Exchange operates in a highly competitive market in which
exchanges offer co-location services as a means to facilitate the
trading and other market activities of those market participants who
believe that co-location enhances the efficiency of their operations.
Accordingly, fees charged for co-location services are constrained by
the active competition for the order flow of, and other business from,
such market participants. If a particular exchange charges excessive
fees for co-location services, affected market participants will opt to
terminate their co-location arrangements with that exchange, and adopt
a possible range of alternative strategies, including placing their
servers in a physically proximate location outside the exchange's data
center (which could be a competing exchange), or pursuing strategies
less dependent upon the lower exchange-to-participant latency
associated with co-location. Accordingly, the exchange charging
excessive fees would stand to lose not only co-location revenues but
also the liquidity of the formerly co-located trading firms, which
could have additional follow-on effects on the market share and revenue
of the affected exchange. For the reasons described above, the Exchange
believes that the proposed rule change reflects this competitive
environment.
    Finally, the Exchange believes that the proposed Non-Substantive
Changes would not impose any burden on competition that is not
necessary or appropriate in furtherance of the purposes of the Act
because the proposed changes are not designed to address any
competitive issue but rather to remove obsolete text and update the
Price List and Fee Schedule, thereby clarifying Exchange rules and
alleviating any possible market participant confusion caused by the
obsolete dates and exchange names.

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

    The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \18\ and Rule 19b-4(f)(6) thereunder.\19\
Because the 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 if consistent with the protection of investors
and the public interest, the proposed rule change has become effective
pursuant to Section 19(b)(3)(A) of the Act \20\ and Rule 19b-4(f)(6)
thereunder.\21\
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    \18\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \19\ 17 CFR 240.19b-4(f)(6).
    \20\ 15 U.S.C. 78s(b)(3)(A).
    \21\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires the Exchange 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) \22\ normally
does not become operative for 30 days after the date of filing.
However, pursuant to Rule 19b-4(f)(6)(iii),\23\ the Commission may
designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing. The Exchange stated its
belief that immediate implementation of the proposed rule changes would
allow Users to have the benefit of connectivity to the Additional Third
Party Data Feed without delay. In so doing, the immediate
implementation would help Users tailor their data center operations to
the requirements of their business operations without delay. In
addition, the Exchange stated that the proposed changes to the Price
List would provide Users with more complete information regarding their
Connectivity options and the availability of products and services.
---------------------------------------------------------------------------

    \22\ 17 CFR 240.19b-4(f)(6).
    \23\ 17 CFR 240.19b-4(f)(6)(iii).
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    The Commission believes that waiving the 30-day operative delay is
consistent with the protection of investors and the public interest, as
it will allow Users to have the benefit of Additional Third Party Feed
sooner and will allow User additional flexibility in tailoring their
data center operations. For this reason, the Commission designates the
proposed rule change to be operative upon filing.\24\
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    \24\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    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 protected]. Please include
File Number SR-NYSEAMER-2018-19 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-NYSEAMER-2018-19. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-NYSEAMER-2018-19 and should be submitted
on or before June 7, 2018.
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    \25\ 17 CFR 200.30-3(a)(12) and (59).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\25\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-10502 Filed 5-16-18; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 84, Number 98 (Tuesday, May 21, 2019)]
[Notices]
[Pages 23139-23142]
[FR Doc No: 2019-10514]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-85868; File No. SR-CboeBZX-2019-034]

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Allow
the Main Sector Rotation ETF, a Series of the Northern Lights Fund
Trust IV, To Hold Listed Options Contracts in a Manner That Does Not
Comply With Rule 14.11(i), Managed Fund Shares

May 15, 2019.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on May 2, 2019, Cboe BZX Exchange, Inc. (the ``Exchange'' or
``BZX'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and II
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\ 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)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes a rule change to allow the Main Sector
Rotation ETF (the ``Fund''), a series of the Northern Lights Fund Trust
IV (the ``Trust''), to hold listed options contracts in a manner that
does not comply with Rule 14.11(i) (``Managed Fund Shares''). The
shares of the Fund are referred to herein as the ``Shares.''
    The text of the proposed rule change is also available on the
Exchange's website (http://markets.cboe.com/us/equities/regulation/rule_filings/bzx/), at the Exchange's Office of the Secretary, 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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Fund began listing and trading on the Exchange pursuant to the
generic listing standards under Rule 14.11(i) governing Managed Fund
Shares on September 6, 2017 and remains currently listed on the
Exchange pursuant to such rule.\5\ The Exchange proposes to continue
listing and trading the Shares. The Shares would continue to comply
with all of the generic listing standards with the exception of the
requirement of Rule 14.11(i)(4)(C)(iv)(b) \6\ that prevents the
aggregate gross notional value of listed derivatives based on any
single underlying reference asset from exceeding 30% of the weight of
the portfolio (including gross notional exposures) (the ``30%
Restriction'').\7\
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    \5\ The Commission originally approved BZX Rule 14.11(i) in
Securities Exchange Act Release No. 65225 (August 30, 2011), 76 FR
55148 (September 6, 2011) (SR-BATS-2011-018) and subsequently
approved generic listing standards for Managed Fund Shares under
Rule 14.11(i) in Securities Exchange Act Release No. 78396 (July 22,
2016), 81 FR 49698 (July 28, 2016) (SR-BATS-2015-100).
    \6\ Rule 14.11(i)(4)(C)(iv)(b) provides that ``the aggregate
gross notional value of listed derivatives based on any five or
fewer underlying reference assets shall not exceed 65% of the weight
of the portfolio (including gross notional exposures), and the
aggregate gross notional value of listed derivatives based on any
single underlying reference asset shall not exceed 30% of the weight
of the portfolio (including gross notional exposures).'' The
Exchange is proposing that the Fund be exempt only from the
requirement of Rule 14.11(i)(4)(C)(iv)(b) that prevents the
aggregate gross notional value of listed derivatives based on any
single underlying reference asset from exceeding 30% of the weight
of the portfolio (including gross notional exposures). The Fund will
meet the requirement that the aggregate gross notional value of
listed derivatives based on any five or fewer underlying reference
assets shall not exceed 65% of the weight of the portfolio
(including gross notional exposures).
    \7\ The Exchange notes that this proposal is very similar to
several previously submitted proposals to list and trade a series of
Index Fund Shares and Managed Fund Shares with similar exposures to
a single underlying reference asset and U.S. exchange-listed equity
securities that were either approved by the Commission or effective
upon filing. See Securities Exchange Act Release Nos. 83146 (May 1,
2018), 83 FR 20103 (May 7, 2018) (SR-CboeBZX-2018-029); 83679 (July
20, 2018), 83 FR 35505 (July 26, 2018); 77045 (February 3, 2016), 81
FR 6916 (February 9, 2016) (SR-NYSEArca-2015-113) (the
``Amendment''); and 74675 (April 8, 2015), 80 FR 20038 (April 14,
2015) (SR-NYSEArca-2015-05) (collectively, with the Amendment, the
``Arca Filing'').
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    The Shares are offered by the Trust, which was established as a
Delaware statutory trust on June 2, 2015. The Trust is registered with
the Commission as an open-end investment company and has filed a
registration statement on behalf of the Fund on Form N-1A with the
Commission.\8\ The Fund's adviser, Main Management ETF Advisors, LLC
(the ``Adviser''), is not registered as a broker-dealer, and is not
affiliated with a broker-dealer. Personnel who make decisions on the
Fund's portfolio composition are currently and shall continue to be
subject to procedures designed to prevent the use and dissemination of
material non-public information regarding such portfolio. In the event
that (a) the Adviser becomes registered as a broker-dealer or newly
affiliated with a broker-dealer; or (b) any new adviser or sub-adviser
is a registered broker-dealer or becomes affiliated with a broker-
dealer, the Adviser or such new adviser or sub-adviser will implement
and maintain a fire wall with respect to its relevant personnel or such
broker-dealer affiliate, as applicable, regarding access to information
concerning the composition and/or changes to the Fund's portfolio, and
will be subject to procedures designed to prevent the use and
dissemination of material non-public information regarding such
portfolio.
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    \8\ The Trust filed a supplement to the Fund's prospectus
included in its Registration Statement on February 28, 2019 (as
supplemented, the ``Registration Statement''). See Registration
Statement on Form N-1A for the Trust (File Nos. 333-204808 and 811-
23066). The descriptions of the Fund and the Shares contained herein
are based, in part, on information included in the Registration
Statement. The Commission has issued an order granting certain
exemptive relief to the Trust and affiliated persons under the
Investment Company Act of 1940 (15 U.S.C. 80a-1). See Investment
Company Act Release No. 30695 (September 24, 2013) (File No. 812-
14178).
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    The Fund intends to qualify each year as a regulated investment
company under Subchapter M of the Internal Revenue Code of 1986, as
amended.
Main Sector Rotation ETF
    The Fund seeks to outperform the S&P 500 Index in rising markets
while limiting losses during periods of decline. In order to achieve
its investment objective, under Normal

Market Conditions,\9\ the Fund utilizes a ``fund of funds'' structure
to invest in U.S. national securities exchange listed sector based
equity exchange traded funds (``ETFs''). The Fund seeks to achieve its
objective through dynamic sector rotation. The Adviser focuses its
research primarily on sector selection by carefully reviewing the
sector, industry, and sub-industries in the Fund's portfolio. The
Adviser chooses sectors it believes are undervalued and poised to
respond favorably to financial market catalysts. The Fund will sell a
security when it achieves its target price and is, in the opinion of
the Adviser, no longer undervalued.
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    \9\ The term ``Normal Market Conditions'' includes, but is not
limited to, the absence of trading halts in the applicable financial
markets generally; operational issues causing dissemination of
inaccurate market information or system failures; or force majeure
type events such as natural or man-made disaster, act of God, armed
conflict, act of terrorism, riot or labor disruption, or any similar
intervening circumstance.
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    The Fund's holdings in ETFs currently meet and will continue to
meet the generic listing standards for U.S. Component Stocks in Rule
14.11(i)(4)(C)(i)(a). The Fund has the ability to buy or sell exchange-
traded call and put options on the S&P 500 Index (``S&P 500 Index
Options'') or exchange-traded options on ETFs that track the S&P 500
Index \10\ (collectively, with S&P 500 Index Options, the ``S&P 500
Options''). The S&P 500 Index is the index most correlated to the
Fund's underlying equity holdings. The options overlay is actively
managed by the Adviser and will adapt to both changing market
environments and shifts in the underlying equity holdings of the Fund,
but is currently limited by the requirement under Rule
14.11(i)(4)(C)(iv)(b) that prevents the aggregate gross notional
exposure of listed derivatives based on any single underlying reference
asset from exceeding 30% of the weight of the portfolio (including
gross notional exposures).
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    \10\ Options on ETFs that track the S&P 500 Index will include
only calls and puts on the five ETFs that track the performance of
the S&P 500 Index that have the greatest total options consolidated
average daily exchange trading volume in such options for the
previous quarter. The Fund will not invest in options on leveraged
(e.g., 2X, -2X, 3X, or -3X) ETFs.
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    As noted above, Rule 14.11(i)(4)(C)(iv)(b) prevents the Fund from
holding listed derivatives based on any single underlying reference
asset in excess of 30% of the weight of its portfolio (including gross
notional exposures). As proposed, the Fund seeks to hold up to 60% of
the weight of its portfolio (including gross notional exposures) in S&P
500 Options in a manner that may not comply with Rule
14.11(i)(4)(C)(iv)(b). The Fund will utilize S&P 500 Options by
employing an option strategy of writing covered call or index-based
options. The Fund seeks to earn income and gains both from dividends
paid on the ETFs and cash premiums received from writing: (i) Covered
call options or index-based options on equity-based ETFs held in the
Fund's portfolio; and (ii) cash secured put options against cash
balances in the Fund. The Fund may also buy puts as a buffer to market
selloffs. The ability to hold S&P 500 Options with exposure to a single
reference asset up to 60% of the weight of the portfolio (including
gross notional exposures) would allow the Fund the flexibility to fully
implement its investment strategy. The Exchange notes that the Fund may
also hold cash and Cash Equivalents \11\ in compliance with Rule
14.11(i)(4)(C)(iii).
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    \11\ As defined in Exchange Rule 14.11(i)(4)(C)(iii)(b), Cash
Equivalents are short-term instruments with maturities of less than
three months, which includes only the following: (i) U.S. Government
securities, including bills, notes, and bonds differing as to
maturity and rates of interest, which are either issued or
guaranteed by the U.S. Treasury or by U.S. Government agencies or
instrumentalities; (ii) certificates of deposit issued against funds
deposited in a bank or savings and loan association; (iii) bankers
acceptances, which are short-term credit instruments used to finance
commercial transactions; (iv) repurchase agreements and reverse
repurchase agreements; (v) bank time deposits, which are monies kept
on deposit with banks or savings and loan associations for a stated
period of time at a fixed rate of interest; (vi) commercial paper,
which are short-term unsecured promissory notes; and (vii) money
market funds.
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    As noted above, the Fund's investment in ETFs under Normal Market
Conditions constitutes at least 80% of the Fund's assets and such
holdings will meet the requirements for U.S. Component Stocks in Rule
14.11(i)(4)(C)(i)(a). In addition to such ETFs holdings, the Fund may
hold up to 20% of its assets in cash, Cash Equivalents, and the cash
value of S&P 500 Options positions under Normal Market Conditions. The
combination of ETFs, cash, Cash Equivalents, and the cash value of S&P
500 Options will constitute the entirety of the Fund's holdings and the
cash value of these holdings will be used to form the basis for these
calculations. The Exchange notes that this is different than the
calculation used to measure the Fund's holdings in S&P 500 Options as
it relates to the Fund holding up to 60% of the weight of its
portfolio, which, as noted above, is calculated using gross notional
exposures gained through the S&P 500 Options in both the numerator and
denominator, which is consistent with the derivatives exposure
calculation under Rule 14.11(i)(4)(C)(iv). The Exchange represents
that, except for the 30% Restriction in Rule 14.11(i)(4)(C)(iv)(b), the
Fund's investments will continue to satisfy all of the generic listing
standards under BZX Rule 14.11(i)(4)(C) and all other applicable
requirements for Managed Fund Shares under Rule 14.11(i).
    The Trust is required to comply with Rule 10A-3 under the Act for
the initial and continued listing of the Shares of the Fund. In
addition, the Exchange represents that the Shares of the Fund will
continue to comply with all other requirements applicable to Managed
Fund Shares, which include the dissemination of key information such as
the Disclosed Portfolio,\12\ Net Asset Value,\13\ and the Intraday
Indicative Value,\14\ suspension of trading or removal,\15\ trading
halts,\16\ surveillance,\17\ minimum price variation for quoting and
order entry,\18\ the information circular,\19\ and firewalls \20\ as
set forth in Exchange rules applicable to Managed Fund Shares and the
orders approving such rules. Moreover, all of the ETFs and S&P 500
Options held by the Fund will trade on markets that are a member of
Intermarket Surveillance Group (``ISG'') or affiliated with a member of
ISG or with which the Exchange has in place a comprehensive
surveillance sharing agreement.\21\ All statements and representations
made in this filing regarding the description of the portfolio or
reference assets, limitations on portfolio holdings or reference
assets, dissemination and availability of reference asset and intraday
indicative values (as applicable), or the applicability of Exchange
listing rules specified in this filing shall constitute continued
listing requirements for the Shares. The Fund has represented to the
Exchange that it will advise the Exchange of any failure by the Fund or
Shares to comply with the continued listing requirements, and, pursuant
to its obligations under Section 19(g)(1) of the Act, the Exchange will
surveil for compliance with the continued listing requirements. FINRA
conducts certain cross-market

surveillances on behalf of the Exchange pursuant to a regulatory
services agreement. The Exchange is responsible for FINRA's performance
under this regulatory services agreement. If the Fund is not in
compliance with the applicable listing requirements, the Exchange will
commence delisting procedures with respect to such Fund under Exchange
Rule 14.12.
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    \12\ See Rule 14.11(i)(4)(A)(ii) and 14.11(i)(4)(B)(ii).
    \13\ See Rule 14.11(i)(4)(A)(ii).
    \14\ See Rule 14.11(i)(4)(B)(i).
    \15\ See Rule 14.11(i)(4)(B)(iii).
    \16\ See Rule 14.11(i)(4)(B)(iv).
    \17\ See Rule 14.11(i)(2)(C).
    \18\ See Rule 14.11(i)(2)(B).
    \19\ See Rule 14.11(i)(6).
    \20\ See Rule 14.11(i)(7).
    \21\ For a list of the current members of ISG, see
www.isgportal.com. The Exchange notes that not all components of the
Disclosed Portfolio for the Fund may trade on markets that are
members of ISG or with which the Exchange has in place a
comprehensive surveillance sharing agreement.
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Availability of Information
    As noted above, the Fund will comply with the requirements under
the Rule 14.11(i) related to Disclosed Portfolio, NAV, and the intraday
indicative value. Additionally, the intra-day, closing and settlement
prices of exchange-traded portfolio assets, specifically the ETFs and
S&P 500 Options, will be readily available from the exchanges trading
such securities or derivatives, as the case may be, automated quotation
systems, published or other public sources, or online information
services such as Bloomberg or Reuters. Quotation and last sale
information for S&P 500 Options will be available via the Options Price
Reporting Authority. Price information for Cash Equivalents will be
available from major market data vendors. The Disclosed Portfolio will
be available on the Fund's website (www.mainmgtetfs.com) free of
charge. The Fund's website will include a form of the prospectus for
the Fund and additional information related to NAV and other applicable
quantitative information. Information regarding market price and
trading volume of the Shares will be continuously available throughout
the day on brokers' computer screens and other electronic services.
Information regarding the previous day's closing price and trading
volume for the Shares will be published daily in the financial section
of newspapers. Trading in the Shares may be halted for market
conditions or for reasons that, in the view of the Exchange, make
trading inadvisable. The Exchange deems the Shares to be equity
securities, thus rendering trading in the Shares subject to the
Exchange's existing rules governing the trading of equity securities.
The Exchange has appropriate rules to facilitate trading in the Shares
during all trading sessions. The Exchange prohibits the distribution of
material non-public information by its employees. Quotation and last
sale information for the Shares and ETFs will be available via the CTA
high-speed line.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with Section
6(b) of the Act \22\ in general and Section 6(b)(5) of the Act \23\ in
particular in that 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 in that the Shares will meet each of the continued
listing criteria in BZX Rule 14.11(i) with the exception of the 30%
Restriction in Rule 14.11(i)(4)(C)(iv)(b), which requires that the
aggregate gross notional value of listed derivatives based on any five
or fewer underlying reference assets shall not exceed 65% of the weight
of the portfolio (including gross notional exposures), and the
aggregate gross notional value of listed derivatives based on any
single underlying reference asset shall not exceed 30% of the weight of
the portfolio (including gross notional exposures).\24\ The Exchange
believes that the diversity, liquidity, and market cap of the
securities underlying the S&P 500 Index are sufficient to protect
against market manipulation of both the Fund's holdings and the Shares
as it relates to the S&P 500 Options holdings. The Exchange also
believes that the liquidity in the S&P 500 Index Options market \25\
mitigates the concerns that Rule 14.11(i)(4)(C)(iv)(b) is intended to
address and that such liquidity would also act to prevent other S&P 500
Options from being susceptible to manipulation, and thus, make the
Shares less susceptible to manipulation. Further, allowing the Fund to
hold a greater portion of its portfolio in S&P 500 Options would mean
that the Fund would not be required to use over-the-counter (``OTC'')
derivatives if the Adviser deemed it necessary to get exposure in
excess of the 30% Restriction in Rule 14.11(i)(4)(C)(iv)(b), which
would reduce the Fund's operational burden by allowing the Fund to use
listed options contracts to achieve its investment objective and would
eliminate the counter-party risk associated with holding OTC derivative
instruments.
---------------------------------------------------------------------------

    \22\ 15 U.S.C. 78f(b).
    \23\ 15 U.S.C. 78f(b)(5).
    \24\ As noted above, the Exchange is proposing that the Fund be
exempt only from the 30% Restriction of Rule 14.11(i)(4)(C)(iv)(b)
that prevents the aggregate gross notional value of listed
derivatives based on any single underlying reference asset from
exceeding 30% of the weight of the portfolio (including gross
notional exposures). The Fund will continue to meet the requirement
that the aggregate gross notional value of listed derivatives based
on any five or fewer underlying reference assets shall not exceed
65% of the weight of the portfolio (including gross notional
exposures).
    \25\ In 2018, more than 1.48 million S&P 500 Index Options
contracts were traded per day on Cboe Options, which is more than
$350 billion in notional volume traded on a daily basis.
---------------------------------------------------------------------------

    The Exchange believes that its surveillance procedures are adequate
to properly monitor the trading of the Shares on the Exchange during
all trading sessions and to deter and detect violations of Exchange
rules and the applicable federal securities laws. All of the ETFs and
S&P 500 Options contracts held by the Fund will trade on markets that
are a member of ISG or affiliated with a member of ISG or with which
the Exchange has in place a comprehensive surveillance sharing
agreement. The Exchange may obtain information regarding trading in the
Shares, ETFs, and the S&P 500 Options held by the Fund via the ISG from
other exchanges who are a member of ISG or affiliated with a member of
ISG or with which the Exchange has entered into a comprehensive
surveillance sharing agreement.\26\ The Exchange further notes that the
Fund will meet and be subject to all other requirements of the generic
listing rules and other applicable continued listing requirements for
Managed Fund Shares under Rule 14.11(i), including those requirements
regarding the dissemination of key information such as the Disclosed
Portfolio, Net Asset Value, and the Intraday Indicative Value,
suspension of trading or removal, trading halts, surveillance, minimum
price variation for quoting and order entry, the information circular,
and firewalls as set forth in Exchange rules applicable to Managed Fund
Shares.
---------------------------------------------------------------------------

    \26\ See note 21, supra.
---------------------------------------------------------------------------

    For the above reasons, the Exchange believes that the proposed rule
change is consistent with the requirements of Section 6(b)(5) of the
Act.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purpose of the Act. The Exchange notes that the
proposed rule change, rather will facilitate the options strategy of an
actively-managed exchange-traded product that will allow the Fund to
better compete in the marketplace, thus enhancing competition among
both market participants and listing venues, to the benefit of
investors and the marketplace.

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

    The Exchange has neither solicited nor received written comments on
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) of the Act \27\ and Rule 19b-
4(f)(6) thereunder.\28\
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    \27\ 15 U.S.C. 78s(b)(3)(A).
    \28\ 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.
---------------------------------------------------------------------------

    A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \29\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \30\ permits the
Commission to 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 upon filing. The
Exchange represents that the Shares are currently listed and trading
pursuant to the generic listing standards under Rule 14.11(i) governing
Managed Fund Shares. The Exchange further represents that, while the
Fund currently has the ability to buy or sell exchange-traded S&P 500
Options, under the proposal, the Fund seeks to hold up to 60% of the
weight of its portfolio (including gross notional exposures) in S&P 500
Options in a manner that may not comply with Rule
14.11(i)(4)(C)(iv)(b).\31\ The Exchange represents that, except for the
30% Restriction in Rule 14.11(i)(4)(C)(iv)(b), the Fund's investments
will continue to satisfy all of the generic listing standards under BZX
Rule 14.11(i)(4)(C) and all other applicable requirements for Managed
Fund Shares under Rule 14.11(i). Further, waiver of the 30-day
operative delay would allow the Fund to hold a greater portion of its
portfolio in S&P 500 Options, which would allow the Fund the
flexibility to fully implement its investment strategy and reduce the
Fund's operational burden by allowing the Fund to continue to use
listed options contracts to achieve its investment objective. The
Commission believes that the proposal raises no novel or unique
regulatory issues and that, under these circumstances, waiver of the
30-day operative delay is consistent with the protection of investors
and the public interest. For these reasons, the Commission hereby
waives the 30-day operative delay and designates the proposed rule
change to be operative upon filing.\32\
---------------------------------------------------------------------------

    \29\ 17 CFR 240.19b-4(f)(6).
    \30\ 17 CFR 240.19b-4(f)(6)(iii).
    \31\ The Exchange notes that the regulated S&P 500 options
markets, and the broad base and scope of the S&P 500 Index, make
securities that derive their value from that index, including S&P
500 Options, less susceptible to potential market manipulation in
view of market capitalization and liquidity of the S&P 500 Index
components, price and quote transparency, and arbitrage
opportunities. See Form 19b-4 at 15, nn.7&25.
    \32\ For purposes only of waiving the 30-day operative delay,
the Commission also has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    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 will institute proceedings to
determine whether the proposed rule change 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-CboeBZX-2019-034 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-CboeBZX-2019-034. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-CboeBZX-2019-034 and should be submitted
on or before June 11, 2019.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\33\
---------------------------------------------------------------------------

    \33\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-10514 Filed 5-20-19; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 84, Number 174 (Monday, September 9, 2019)]
[Notices]
[Pages 47274-47275]
[FR Doc No: 2019-19429]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. DI19-2-000]

Dyberry Creek Farm, LLC; Notice of Declaration of Intention and
Soliciting Comments, Protests, and Motions To Intervene

    Take notice that the following application has been filed with the
Commission and is available for public inspection:
    a. Application Type: Declaration of Intention.
    b. Docket No: DI19-2-000.
    c. Date Filed: July 31, 2019.
    d. Applicant: Dyberry Creek Farm.
    e. Name of Project: Dyberry Creek Farm Micro Hydro Project.
    f. Location: The proposed Dyberry Creek Farm Micro Hydro Project
would be located on an unnamed tributary of the West Branch of Dyberry
Creek, near the borough of Honesdale, in Wayne County, Pennsylvania.
    g. Filed Pursuant to: Section 23(b)(1) of the Federal Power Act, 16
U.S.C. 817(b) (2012).
    h. Applicant Contact: Brian Paul Phillips, Dyberry Creek Farm, 86
Kilroe Road, Honesdale, PA, 18431; telephone:<PHONE_NUMBER>; email:
<EMAIL_ADDRESS>Agent Contact: James F. Sanders, 417 Upper
Woods Road, Honesdale, PA 18431, telephone:<PHONE_NUMBER>; email:
<EMAIL_ADDRESS>    i. FERC Contact: Any questions on this notice should be addressed
to Andrea Claros,<PHONE_NUMBER>, or email<EMAIL_ADDRESS>    j. Deadline for filing comments, protests, and motions to intervene
is: 30 days from the issuance date of this notice by the Commission.

    The Commission strongly encourages electronic filing. Please file
comments, any comments, protests, and motions to intervene using the
Commission's eFiling system at http://www.ferc.gov/docs-filing/efiling.asp. Commenters can submit brief comments up to 6,000
characters, without prior registration, using the eComment system at
http://www.ferc.gov/docs-filing/ecomment.asp. You must include your
name and contact information at the end of your comments. For
assistance, please contact FERC Online Support at
<EMAIL_ADDRESS>(866) 208-3676 (toll free), or (202) 502-
8659 (TTY). In lieu of electronic filing, please send a paper copy to:
Secretary, Federal Energy Regulatory Commission, 888 First Street NE,
Washington, DC 20426. The first page of any filing should include
docket number DI19-2-000.
    k. Description of Project: The proposed run-of-river project would
consist of: (1) An intake on an unnamed tributary of the West Branch of
Dyberry Creek with a design head of 140 feet and a hydraulic capacity
of 0.701 cubic feet per second; (2) a 700-foot-long penstock; (3) a 4-
foot by 4-foot powerhouse containing a 3-kilowatt generating unit; (4)
a 4-inch by 10-foot-long diameter outflow pipe returning water to the
creek; (5) a breaker panel at the Dyberry Farm with a grid-tie into PPL
Electric Utilities transmission line; and (6) appurtenant facilities.
No dams or divisions would be built.
    When a Declaration of Intention is filed with the Federal Energy
Regulatory Commission, the Federal Power Act requires the Commission to
investigate and determine if the project would affect the interests of
interstate or foreign commerce. The Commission also determines whether
or not the project: (1) Would be located on a navigable waterway; (2)
would occupy public lands or reservations of the United States; (3)
would utilize surplus water or water power from a government dam; or
(4) would be located on a non-navigable stream over which Congress has
Commerce Clause jurisdiction and would be constructed or enlarged after
1935.
    l. Locations of the Application: This filing may be viewed on the
Commission's website at http://www.ferc.gov/docs-filing/elibrary.asp.
Enter the docket number excluding the last three digits in the docket
number field to access the document. You may also register online at
http://www.ferc.gov/docs-filing/esubscription.asp to be notified via
email of new filings and issuances related to this or other pending
projects. For assistance, call<PHONE_NUMBER> or email
<EMAIL_ADDRESS>for TTY, call<PHONE_NUMBER>. A copy is
also available for inspection and reproduction at the address in item
(h) above and in the Commission's Public Reference Room located at 888
First Street NE, Room 2A, Washington, DC 20426, or by calling (202)
502-8371.
    m. Individuals desiring to be included on the Commission's mailing
list should so indicate by writing to the Secretary of the Commission.
    n. Comments, Protests, or Motions to Intervene: Anyone may submit
comments, a protest, or a motion to intervene in accordance with the
requirements of Rules of Practice and Procedure, 18 CFR 385.210, .211,
and .214. In determining the appropriate action to take, the Commission
will consider all protests or other comments filed, but only those who
file a motion to intervene in accordance with the Commission's Rules
may become a party to the proceeding. Any comments, protests, or
motions to intervene must be received on or before the specified
comment date for the particular application.
    o. Filing and Service of Responsive Documents: All filings must
bear in all capital letters the title COMMENTS, PROTESTS, and MOTIONS
TO INTERVENE, as applicable, and the Docket Number of the particular
application to which the filing refers. A copy of any Motion to
Intervene must also be served upon each representative of the Applicant
specified in the particular application.
    p. Agency Comments: Federal, state, and local agencies are invited
to file comments on the described application. A copy of the
application may be obtained by agencies directly from the Applicant. If
an agency does not file comments within the time specified for filing
comments, it will be presumed to have no comments. One copy of an
agency's comments must also be sent to the Applicant's representatives.

    Dated: September 3, 2019.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2019-19429 Filed 9-6-19; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register: August 11, 2008 (Volume 73, Number 155)]
[Rules and Regulations]
[Page 46552-46553]
[DOCID:fr11au08-10]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2008-0308; Airspace Docket No. 08-AEA-19]

Modification of Class E Airspace; Rome, NY

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This action modifies Class E Airspace at Rome, New York to
support the amendment of the current Terminal Visual Flight Rule (VFR)
Radar Service Area (TRSA) and to allow for a lower vectoring altitude
known as the Minimum Vectoring Altitude (MVA) for vectoring of both VFR
and Instrument Flight Rule (IFR) aircraft around the Rome, NY area.
This action will enhance the safety and airspace management around the
Griffiss Airport area.

DATES: Effective Date: 0901 UTC, November 20, 2008.

FOR FURTHER INFORMATION CONTACT: Daryl Daniels, Airspace Specialist,
System Support Group, Eastern Service Center, Air Traffic Organization,
Federal Aviation Administration, P.O. Box 20636, Atlanta, Georgia
30320; telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

History

    On January 1, 2007, the Oneida County Airport, Utica, NY was
permanently closed and operations moved to the Griffiss Airfield. The
local area Terminal VFR Radar Service Area (TRSA) is being revised and
there is a requirement for the base of the TRSA to not be below the
associated Class E airspace. A careful analysis of operations
determined a need for additional Class E airspace extending upward from
700 feet above the surface of the Earth to enhance the management,
safety and efficiency of air traffic services in the area. This
modification would satisfy that requirement.
    On May 8, 2008, the FAA published in the Federal Register a notice
of proposed rulemaking (NPRM) to establish additional Class E airspace
at Griffiss Airfield (73 FR 26047). Interested parties were invited to
participate in this rulemaking effort by submitting written comments on
this proposal to the FAA. No comments objecting to the proposal were
received, and the rule is being promulgated as proposed.
    Designations for Class E Airspace designations for airspace areas
extending upward from 700 feet or more above the surface of the Earth
are published in Paragraph 6005 of FAA Order 7400.9R, signed August 15,
2007, and effective September 15, 2007, which is incorporated by
reference in 14 CFR 71.1. The Class E airspace designation listed in
this document will be published subsequently in the Order.

The Rule

    This amendment to part 71 of the Federal Aviation Regulations (14
CFR part 71) modifies Class E airspace at Rome, NY. To provide for a
lower MVA in the Rome, NY, area for VFR and IFR operations, it
establishes Class E airspace upward from 700 feet above the surface of
the Earth within a 15-mile radius of Griffiss Airfield and within a 26-
mile radius of the airport to the southeast and south of the airport.
    The FAA has determined that this final rule 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. Since this is a routine matter that
will only affect air traffic procedures and air navigation, it is
certified that this rule, when promulgated, will not have a significant
economic impact on a substantial number of small entities under the
criteria of the Regulatory Flexibility Act.
    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 modifies Class E airspace at Rome, NY.

Lists of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (Air).

Adoption of the Amendment:

0
In consideration of the foregoing, the Federal Aviation Administration
amends 14 CFR part 71 as follows:

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

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

    Authority: 49 U.S.C. 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 Federal Aviation
Administration Order 7400.9R, Airspace Designations and Reporting
Points, signed August 15, 2007, effective September 15, 2007, is
amended as follows:

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

* * * * *

AEA NY E5 Rome, NY [REVISED]

Griffiss Airfield, NY
    (Lat. 43[deg]14'02'' N., long. 75[deg]24'25'' W.)

    That airspace extending upward from 700 feet above the surface
of the Earth within a 15-mile radius of Griffiss Airfield and within
a 26-mile radius of the airport extending clockwise from a 125[deg]
bearing to a 200[deg] bearing from the airport.
* * * * *

    Issued in College Park, Georgia, on July 14, 2008.
Mark D. Ward,
Manager, Operations Support Group, Eastern Service Center, Air Traffic
Organization.
 [FR Doc. E8-18135 Filed 8-8-08; 8:45 am]

BILLING CODE 4910-13-M