[Federal Register Volume 78, Number 153 (Thursday, August 8, 2013)]
[Notices]
[Pages 48522-48526]
[FR Doc No: 2013-19146]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-70099; File No. SR-NYSE-2013-54]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing of Proposed Rule Change To Amend NYSE Rule 49, Which
Addresses the Exchange's Emergency Powers

August 2, 2013.
    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 July 22, 2013, New York Stock Exchange LLC (``NYSE'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the 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 amend NYSE Rule 49, which addresses the
Exchange's Emergency Powers. The text of the proposed rule change is
available on the Exchange's Web site 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 NYSE Rule 49, which addresses the
Exchange's emergency powers. As explained in more detail below, the
proposed rule change would amend Rule 49 to better delineate the self-
regulatory organization (``SRO'') functions of the Exchange and NYSE
Arca, Inc. (``NYSE Arca'') during an emergency condition, reflect the
operational preferences of the industry, and reflect the current
structure of member organization connectivity to and system coding for
exchange systems.
Current Rule
    In 2009, the Exchange adopted Rule 49 to provide the Exchange with
the authority to declare an emergency condition \4\ with respect to
trading on or through the systems and facilities of the Exchange and to
act as necessary in the public interest and for the protection of
investors.\5\ The authority in Rule 49 may be exercised when, due to an
emergency condition, the Exchange's systems and facilities located at
11 Wall Street, New York, New York, including the NYSE Trading Floor,
cannot be utilized. If such an emergency condition is declared, a
qualified Exchange officer may designate NYSE Arca, the Exchange's
affiliate, to serve as a backup facility to receive and process bids
and offers and to execute orders on behalf of the Exchange so that the
Exchange, as an SRO, can remain operational.\6\ During such an
emergency condition, NYSE Arca also would continue to operate
simultaneously. To date, the Exchange has not invoked the rule.
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    \4\ The definition of ``emergency'' is the one used in Section
12(k)(7) of the Act and is also used by other exchanges and the
Securities and Exchange Commission (``Commission''). Section
12(k)(7) defines an emergency to mean ``(A) a major market
disturbance characterized by or constituting--(i) sudden and
excessive fluctuations of securities prices generally, or a
substantial threat thereof, that threaten fair and orderly markets;
or (ii) a substantial disruption of the safe or efficient operation
of the national system for clearance and settlement of transactions
in securities, or a substantial threat thereof; or (B) a major
disturbance that substantially disrupts, or threatens to
substantially disrupt--(i) the functioning of securities markets,
investment companies, or any other significant portion or segment of
the securities markets; or (ii) the transmission or processing of
securities transactions.'' 15 U.S.C. Sec.  78l(k)(7).
    \5\ See Securities Exchange Act Release No. 61177 (December 16,
2009), 74 FR 68643 (December 28, 2009) (SR-NYSE-2009-105).
    \6\ NYSE Arca trades equity securities on the systems and
facilities of its wholly owned subsidiary, NYSE Arca Equities, Inc.,
referred to as the ``NYSE Arca Marketplace.'' For the purposes of
this filing and in the text of proposed NYSE Rule 49, these shall be
referred to collectively as the systems and facilities of NYSE Arca,
or simply NYSE Arca.
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    Under Rule 49, during the emergency condition, the Exchange would
halt all trading conducted on the Exchange's systems and facilities.
Unexecuted orders would remain on the Exchange's systems unless
cancelled. The Exchange would open trading on the systems and
facilities of NYSE Arca as soon thereafter as possible, but not earlier
than at least the next trading day. As soon as practicable following
the commencement of trading on the systems and facilities of NYSE Arca,
any unexecuted orders would be purged from the Exchange's own systems
and facilities.
    Quotes or orders of Exchange-listed securities entered or executed
on or through the systems and facilities of NYSE Arca would be reported
to the Consolidated Quotation System (``CQS'') as bids and offers, or
to the Consolidated Tape Association (``CTA'') as executions, made on
or through the systems and facilities of the Exchange, not NYSE Arca.
Members and member organizations would be required to have contingency
plans for changing the routing instructions for their order entry
systems and to take such other appropriate actions as instructed by the
Exchange to accommodate the use of the systems and facilities of NYSE
Arca to trade Exchange-listed securities.
    Exchange members, member organizations and Sponsored Participants
would be permitted to enter bids and offers and to execute orders on or
through the systems and facilities of NYSE Arca, regardless of whether
they were members or sponsored participants of NYSE Arca at the time
the emergency condition was declared. Such bids and offers would be
deemed to be bids and offers of the Exchange. Exchange member
organizations registered as Designated Market Makers (``DMMs'') that
were designated as temporary members of NYSE Arca in accordance with
NYSE Arca Equities Rules would, for the duration of such designation,
not be considered DMMs for the purposes of the Exchange's rules but
rather ``Market Makers'' pursuant to NYSE Arca Equities rules for the
purposes of trading Exchange-listed securities on

and through the systems and facilities of NYSE Arca. The Exchange
would, as needed, designate any NYSE Arca members that were not members
or member organizations of the Exchange at the time of the emergency
condition as temporary members. Such temporary members would not be
required to meet any of the Exchange's membership requirements. The
Exchange also would, as needed, authorize sponsored participants of
NYSE Arca that did not have sponsored access to the Exchange for
temporary access through either an existing Exchange member or member
organization or an NYSE Arca member granted temporary membership under
Rule 49. Temporary memberships or access under the rule would be valid
only until regular trading resumed on the Exchange's systems and
facilities, including the Trading Floor.
    All trades of Exchange-listed securities entered or executed on or
through the systems and facilities of NYSE Arca would be subject to the
NYSE Arca Equities Rules governing trading, and such rules would be
considered Exchange rules for the purposes of such transactions, except
that (i) the Exchange's rules governing member firm conduct would
continue to apply to its members, member organizations and Sponsored
Participants, including, but not limited to, membership requirements
and net capital requirements, and (ii) the Exchange's listing
requirements for its listed securities would continue to apply.
    Surveillance of trading of Exchange-listed securities on or through
the systems and facilities of NYSE Arca would be conducted by NYSE Arca
on behalf of the Exchange. Members and member organizations of the
Exchange would remain subject to the jurisdiction of the Exchange for
any disciplinary actions related to the trading of Exchange-listed
securities on or through the systems and facilities of NYSE Arca.
Violations of the rules of NYSE Arca would be referred to the Exchange
for prosecution according to the Exchange's disciplinary rules.
Exchange members and member organizations could not assert as an
affirmative defense to such prosecution the lack of jurisdiction of the
Exchange over trading of Exchange-listed securities on or through the
systems and facilities of NYSE Arca.
Events During Superstorm Sandy
    On October 29 and 30, 2012, due to the dangerous conditions that
developed as a result of Superstorm Sandy, NYSE and NYSE MKT LLC
(``NYSE MKT''), as well as a number of their member organizations
located in the tri-state area, were unable to open because of the risk
of flooding at their physical locations. In addition, other broker-
dealers and exchanges with facilities in the area were also faced with
significant staffing challenges because the storm conditions prevented
personnel from getting to work. As a result, it was agreed, after
consulting with other exchanges, market participants, and Commission
staff, and in light of concerns over the physical safety of personnel
and the possibility of technical issues, that all U.S. equities and
options markets would be closed for those two days.
Proposed Rule Change
    The Exchange proposes to amend Rule 49 to more effectively
delineate the SRO functions of the Exchange and NYSE Arca during an
emergency condition, reflect the operational preferences of the
industry, and reflect the current structure of member organization
connectivity to and system coding for exchange systems. As described
above, the current rule contemplates the Exchange remaining operational
during the emergency condition and both the Exchange and NYSE Arca
performing certain SRO functions with respect to the same trading
activity that would be taking place on NYSE Arca. The Exchange believes
that a more practical and effective structure would be to have all
trading activity occurring on NYSE Arca under that SRO's authority,
with one exception. NYSE Arca would, on behalf and at the direction of
the Exchange, disseminate certain primary listing market messages as
both NYSE and NYSE Arca messages so that market participants' systems
could properly recognize such messages. NYSE Arca would do so beginning
on the next trading day following the declaration of the emergency
condition. All trading volume on NYSE Arca in NYSE-listed securities
during the emergency condition would be reported as NYSE Arca volume,
except for volume associated with the opening and closing prints in
NYSE-listed securities, which would be deemed NYSE volume. The specific
amendments to achieve these results are described in more detail below.
    Rule 49(a)(1) would be amended to provide a short form of the term
``Emergency Condition,'' which is strictly a technical amendment to
simplify the remainder of the rule text, and to specify that NYSE Arca
may perform certain functions on behalf and at the direction of the
Exchange.
    Rule 49(a)(2) would be amended to remove a reference to the
Exchange's systems and facilities, including the Trading Floor,
continuing to operate during the Emergency Condition. The text would be
revised to provide that an Emergency Condition declaration may be made
if necessary so that the securities markets, in general, may continue
to operate and trading in Exchange-listed securities, in particular,
may continue to occur in a manner consistent with the protection of
investors and in pursuit of the public interest. In Rule 49(a)(3), the
subparagraphs would be redesignated so that the rule text follows a
consistent convention.\7\
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    \7\ The Exchange notes that there is a pending amendment to
subparagraph (a)(3)(ii). See Securities Exchange Act Release No.
69851 (June 25, 2013), 78 FR 39407 (July 1, 2013) (SR-NYSE-2013-42).
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    Rules 49(b)(1) and 49(b)(2)(i), which include text describing how
the Exchange would halt trading and NYSE Arca would begin receiving and
processing bids and offers and executing orders on behalf of the
Exchange beginning on the next trading day, would be deleted and
replaced with text that more specifically describes the steps that each
SRO would take upon the declaration of the Emergency Condition.
Proposed Rule 49(b)(1) would provide that when an Emergency Condition
is declared, the Exchange (A) would halt all trading conducted on the
Exchange's systems and facilities and would not route any unexecuted
orders to NYSE Arca; (B) would accept cancellations for Good `Til
Cancelled (``GTC'') orders; and (C) would purge any unexecuted orders
from the Exchange's own systems and facilities as soon as practicable
following declaration of the Emergency Condition.
    Proposed Rule 49(b)(2) would provide that beginning on the next
trading day following the declaration of the Emergency Condition,\8\
NYSE Arca would, on behalf of and at the direction of the Exchange,
disseminate as messages of both the Exchange and NYSE Arca (A) the
official opening and closing prices of Exchange-listed securities to
CTA, and (B) notifications to CQS for Exchange-listed securities of (i)
regulatory halts and resumption of trading thereafter, (ii) trading
pause and resumption of trading thereafter, and (iii) Short Sale Price
Test trigger and lifting thereafter (collectively, ``primary

listing market notifications'').\9\ The Exchange notes that in the
event of an intra-day declaration of an Emergency Condition, the
Exchange would manually disseminate primary listing market
notifications to CQS. Quotes or orders of Exchange-listed securities
entered on NYSE Arca during the Emergency Condition would be reported
to CQS as bids or offers of NYSE Arca, and quotes or orders of
Exchange-listed securities executed on or through NYSE Arca during the
Emergency Condition would be reported to CTA as executions of NYSE
Arca, except that executions in the opening or closing auctions would
be reported as Exchange volume only in order to avoid any double
counting.
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    \8\ The Exchange's current and proposed disaster recovery plans
do not enable the intraday failover of the Exchange's system onto
NYSE Arca, including dissemination of primary listing market
notifications; such technology is only available on a next-day
basis.
    \9\ See NYSE Rules 123D, 80B, 80C, and 440B. Each of these types
of notifications is a responsibility of the primary listing market
for the security.
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    The Exchange believes that the proposed rule change would minimize
the impact of declaring an Emergency Condition because NYSE Arca
already trades Exchange-listed securities on an unlisted trading
privileges basis and prints such executions as NYSE Arca or ``P''
trades.\10\ This arrangement would be compatible with market
participants' system coding conventions, where orders routed to an
exchange generally come back as executions from that exchange, unless
routed out. Thus, quotes and orders in Exchange-listed securities
routed to NYSE Arca during the Emergency Condition would come back to
the entering firm as ``P'' executions, rather than ``N'' executions.
Similarly, the Exchange further understands that in order for many
market participants' systems to recognize the primary listing market
notifications, the notifications must carry an ``N'' designation to
associate it with Exchange-listed securities. If the notifications were
disseminated only as ``P'' notifications, they may not be properly
recognized by these market participants' systems. However, other market
participants may be able to read such primary listing market
notifications if disseminated with the ``P'' designation. Accordingly,
during an Emergency Condition, in order to accommodate various market
participants' existing technological frameworks for the temporary
measures addressed in proposed Rule 49, NYSE Arca would disseminate the
official opening and closing prints for NYSE-listed securities and
primary listing market notifications with both ``P'' and ``N''
designations. When NYSE Arca disseminates these messages on behalf of
the Exchange, it will do so in accordance with its own rules and
procedures for its primary listed securities.\11\ The Exchange believes
that the proposed rule change offers a practical solution that will be
compatible with most market participants' current system coding, which
will allow the proposed rule change to be quickly and efficiently
implemented and avoid the costs and delays associated with system
reprogramming.
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    \10\ The ``P'' designation reflects one of NYSE Arca's
predecessor names, Pacific Exchange, Inc., before it was purchased
by NYSE Euronext.
    \11\ Nonetheless, NYSE will remain the SRO that is legally
responsible for the notifications.
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    The Exchange believes that maintaining a primary market print for
an Exchange-listed security's official opening price would assist
market participants that rely on a primary market opening print as the
basis for trading strategies for that trading day. For example, the
pricing and valuation of certain indices, funds and derivative products
require primary market prints. Similarly, private corporate
transactional contracts involving stock purchases or valuations
frequently make reference to the primary market print rather than to
the CTA print. In addition, certain indexes rely on the primary listing
market closing print to calculate the index, and certain funds rely on
the primary listing market closing print to calculate the fund's value.
Thus, these market participants would benefit from the dissemination of
the primary market prints as ``N'' messages and not have to engage in
any system reprogramming to receive them.
    Rule 49(b)(2)(iii) currently provides that members and member
organizations must have contingency plans for changing the routing
instructions for their order entry systems, and to take such other
appropriate actions as instructed by the Exchange, to accommodate the
use of the systems and facilities of NYSE Arca to trade Exchange-listed
securities. The proposed rule change would redesignate this provision
as Rule 49(b)(3) and amend the text to provide that members and member
organizations wishing to trade Exchange-listed securities during an
Emergency Condition would be responsible for having contingency plans
for establishing connectivity to NYSE Arca and changing the routing
instructions for their order entry systems to route quotes and orders
in Exchange-listed securities to NYSE Arca. This is the manner by which
the current rule operates, but this level of detail was previously
provided in communications with the industry rather than in the
rule.\12\ Such connectivity and routing could be established either
directly to NYSE Arca by becoming an ETP Holder or through a third
party, such as a service bureau, that is an ETP Holder. The Exchange
would not have the ability to reroute such quotes and orders from NYSE
to NYSE Arca on behalf of members and member organizations, as noted in
proposed Rule 49(b)(1)(A). The proposed rule change would also delete
text stating that the Exchange would provide instructions to members
and member organizations about using NYSE Arca facilities because this
would be unnecessary.
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    \12\ See NYSE Regulation Information Memo 10-14 (March 15,
2010), available at http://www.nyse.com/nysenotices/nyse/information-memos/detail?memo_id=10-14.
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    Current Rule 49(b)(3), which provides for certain temporary
memberships and would deem Exchange DMMs that are designated as
temporary members of NYSE Arca as NYSE Arca Market Makers, would be
deleted in its entirety. Because all trading would occur under the NYSE
Arca SRO via a direct membership as an ETP Holder or indirectly via a
service bureau as described above, temporary memberships would be
unnecessary. Upon further review, the Exchange has also determined that
there would be substantial technological difficulties for NYSE DMMs to
become established during the Emergency Condition as NYSE Arca Market
Makers and comply with NYSE Arca Equities Rule 7.23 quoting
obligations, as amended in 2011.\13\ It also would be technologically
impracticable to attempt to impose NYSE's DMM requirements in a
different market and inconsistent with the structure of the proposed
rule change. If an Exchange DMM wanted to be able to act as an NYSE
Arca Market Maker during the Emergency Condition, it would have to
apply for and obtain such status in advance.
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    \13\ See Securities Exchange Act Release No. 64422 (May 6,
2011), 76 FR 27691 (May 12, 2011) (SR-NYSEArca-2011-26).
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    Current Rule 49(b)(4) states that NYSE Arca trading rules would
apply to all trading on NYSE Arca during the emergency condition and
would be deemed Exchange rules. Under the proposed rule change, this
text would be deleted and such trading rules would no longer be deemed
Exchange rules. To better delineate each SRO's authority, and for
simplicity and clarity, during an Emergency Condition, all trading in
NYSE-listed securities on NYSE Arca would be subject to NYSE Arca
rules, surveillance, and discipline; as such, current Rule 49(b)(5)
would be deleted.

NYSE Arca would not be acting on behalf of the Exchange, but rather
under its own SRO authority. Thus, if an NYSE member organization
violated an NYSE Arca trading rule while trading on NYSE Arca during an
Emergency Condition, it would be subject to discipline by NYSE Arca,
not the Exchange. The proposed rule change also would specify that such
NYSE Arca trading rules include, but are not limited to, the opening,
reopening, and closing auction processes applicable to securities for
which NYSE Arca is the primary listing market set forth in NYSE Arca
Equities Rule 7.35. NYSE Arca's auction processes at the open and close
and following a trading halt differ from those of NYSE. However, NYSE's
listing requirements would continue to apply to any Exchange-listed
security that was trading on NYSE Arca during the Emergency Condition.
    The Exchange also proposes to make typographical corrections to
Rule 49(c).
    The Exchange notes that its affiliates have submitted related rule
filings. NYSE Arca has submitted a companion filing to make its
authority consistent with proposed Rule 49.\14\ NYSE MKT also has
submitted a filing to adopt the text of Rule 49, as amended by this
filing.\15\
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    \14\ See SR-NYSEArca-2013-77.
    \15\ See SR-NYSEMKT-2013-66.
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    The Exchange will announce by Trader Update when the Exchange and
NYSE Arca will be ready to implement the proposed rule change.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\16\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\17\ in particular, because it
is designed to promote just and equitable principles of trade and to
remove impediments to and perfect the mechanism of a free and open
market and a national market system. In addition, the Exchange believes
that the proposed rule change furthers the objectives of Section
6(b)(7) of the Act,\18\ in particular, in that it provides fair
procedures for the disciplining of members \19\ and persons associated
with members, the denial of membership to any person seeking membership
therein, the barring of any person from becoming associated with a
member thereof, and the prohibition or limitation by the Exchange of
any person with respect to access to services offered by the Exchange
or a member thereof.
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    \16\ 15 U.S.C. 78f(b).
    \17\ 15 U.S.C. 78f(b)(5).
    \18\ 15 U.S.C. 78f(b)(7).
    \19\ The Exchange's equivalent to the term ``member'' in this
context is ``member organization.''
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    Specifically, the Exchange believes that the proposed rule change
would promote just and equitable principles of trade and remove
impediments to and perfect the mechanism of a free and open market and
national market system because it offers a practical solution to
facilitate trading in Exchange-listed securities in the event of an
Emergency Condition and would help to avoid a future market-wide
closure. All quoting and trading activity in NYSE-listed securities
during the Emergency Condition would be deemed NYSE Arca quoting and
trading for purposes of CQS and CTA reporting and be subject to NYSE
Arca's surveillance and discipline, except that the opening and closing
prints and primary listing market notifications would be disseminated
as both Exchange and NYSE Arca messages so that the majority of market
participants' systems could properly receive and process them. As such,
the proposed rule change reflects the operational preferences of the
industry and the current structure of most member organizations'
connectivity to and system coding for exchange systems and would reduce
the systemic and administrative burdens on market participants by
avoiding the need for reprogramming, depending on which message
notifications their respective systems would be able to read during
such an Emergency Condition. Although market making requirements could
not feasibly be imposed on NYSE DMMs trading on NYSE Arca during an
Emergency Condition, the Exchange believes that facilitating trading on
NYSE Arca in Exchange-listed securities under that SRO's rules would
benefit both issuers and investors by providing additional liquidity
during the Emergency Condition.
    The Exchange also believes that the proposed rule change would
remove impediments to and perfect the mechanism of a free and open
market and national market system because it would assist market
participants that rely on or reference a primary market opening print
in their trading strategies or private corporate transactional
contracts involving stock purchases or valuations. In addition, certain
indexes rely on the primary listing market closing print to calculate
the index, and certain funds rely on the primary listing market closing
print to calculate the fund's value. The proposed rule change would
assist these market participants in performing these functions without
requiring them to reprogram their systems.
    The Exchange also believes that the proposed rule change would
promote just and equitable principles of trade and provide for fair
discipline by better delineating SRO surveillance and disciplinary
functions. The Exchange believes that it would be more effective for
NYSE Arca to discipline NYSE members and member organizations under
NYSE Arca rules rather than having the Exchange enforce NYSE Arca
rules.
    In sum, the Exchange believes that the proposed rule change would
substantially strengthen business continuity planning for itself and
its member organizations, thereby benefiting market participants and
investors generally.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed rule change is
designed to facilitate trading in Exchange-listed securities on NYSE
Arca during an Emergency Condition and remove certain requirements that
cannot feasibly be imposed. As such, the Exchange believes that the
proposed rule change would promote competition for the benefit of
market participants and investors generally.

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

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

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing,

including whether the proposed rule change 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-NYSE-2013-54 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR- NYSE-2013-54. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing will also be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make publicly available. All
submissions should refer to File Number SR-NYSE-2013-54 and should be
submitted on or before August 29, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
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    \20\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-19146 Filed 8-7-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 88, Number 186 (Wednesday, September 27, 2023)]
[Notices]
[Page 66483]
[FR Doc No: 2023-21029]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-4729-DR; Docket ID FEMA-2023-0001]

Tennessee; Amendment No. 1 to Notice of a Major Disaster
Declaration

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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SUMMARY: This notice amends the notice of a major disaster declaration
for the State of Tennessee (FEMA-4729-DR), dated August 17, 2023, and
related determinations.

DATES: This change occurred on August 17, 2023.

FOR FURTHER INFORMATION CONTACT: Dean Webster, Office of Response and
Recovery, Federal Emergency Management Agency, 500 C Street SW,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The Federal Emergency Management Agency
(FEMA) hereby gives notice that pursuant to the authority vested in the
Administrator, under Executive Order 12148, as amended, Yolanda J.
Jackson, of FEMA is appointed to act as the Federal Coordinating
Officer for this disaster.
    This action terminates the appointment of Andrew D. Friend as
Federal Coordinating Officer for this disaster.

    The following Catalog of Federal Domestic Assistance Numbers
(CFDA) are to be used for reporting and drawing funds: 97.030,
Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis
Counseling; 97.033, Disaster Legal Services; 97.034, Disaster
Unemployment Assistance (DUA); 97.046, Fire Management Assistance
Grant; 97.048, Disaster Housing Assistance to Individuals and
Households In Presidentially Declared Disaster Areas; 97.049,
Presidentially Declared Disaster Assistance--Disaster Housing
Operations for Individuals and Households; 97.050, Presidentially
Declared Disaster Assistance to Individuals and Households--Other
Needs; 97.036, Disaster Grants--Public Assistance (Presidentially
Declared Disasters); 97.039, Hazard Mitigation Grant.

Deanne Criswell,
Administrator, Federal Emergency Management Agency.
[FR Doc. 2023-21029 Filed 9-26-23; 8:45 am]
BILLING CODE 9111-23-P


			  UNITED STATES OF AMERICA

		        DEPARTMENT OF TRANSPORTATION

			  OFFICE OF THE SECRETARY

			          WASHINGTON, D.C.

	    Issued by the Department of Transportation on January 21, 2003

NOTICE OF ACTION TAKEN -- DOCKET OST-2003-14311

________________________________________________________________________
________________________________________________________

This serves as notice to the public of the action described below, taken
by the Department official indicated (no

additional confirming order will be issued in this matter).

Applicant:  Volga-Dnepr J.S. Cargo Airline		Date Filed:  January 17,
2003, as amended January 21, 2003

Relief requested:  Exemption pursuant to 49 U.S.C. section 40109(g) to
operate one one-way cargo charter flight from Ontario, CA, to Agana,
Guam, on/about January 21, 2003, using its AN-124 aircraft, to transport
outsized cargo consisting of seven Utility Bucket Trucks on behalf of
Telesource International.  The applicant stated that the trucks are
urgently needed by the Guam Power Authority and FEMA for reconstruction
of the electric power system in Guam in the aftermath of the typhoon
that struck Guam in December; that the cargo is too large for
transportation on U.S. carrier aircraft; and that surface transportation
is not feasible because of the time involved and the need to restore
electrical power as soon as possible.

Applicant representative:  Glenn Wicks<PHONE_NUMBER>		DOT analyst:
Barbara Schools<PHONE_NUMBER>

Responsive pleadings:  Volga-Dnepr served its application on those U.S.
carriers operating large all-cargo aircraft.  Each carrier indicated
that it did not have aircraft available to conduct the proposed
operation and that it had no comment or did not oppose grant of the
requested authority.

Statutory Standards:  Under 49 U.S.C. section 40109(g), we may authorize
a foreign air carrier to carry commercial traffic between U.S. points
(i.e., cabotage traffic) under limited circumstances.  Specifically, we
must find that the authority is required in the public interest; that
because of an emergency created by unusual circumstances not arising in
the normal course of business the traffic cannot be accommodated by U.S.
carriers holding certificates under 49 U.S.C. section 41102; that all
possible efforts have been made to place the traffic on U.S. carriers;
and that the transportation is necessary to avoid unreasonable hardship
to the traffic involved (an additional required finding, concerning
emergency transportation during labor disputes, was not relevant here).
For examples of earlier grants of authority of this type, see, e.g.,
Order 2001-5-23.

	DISPOSITION

Action:  Approved							Action date:  January 21, 2003

Effective dates of authority granted:  January 21-24, 2003

Basis for approval:  We found that the application met all the relevant
criteria of 49 U.S.C. section 40109(g) for the grant of an exemption of
this type and that the grant was required in the public interest.
Specifically, we were persuaded that the damage inflicted on Guam in
December by extraordinary weather conditions; the need to restore
electrical power to affected communities promptly; and the unique,
outsized nature of the cargo, constituted an emergency not arising in
the normal course of business.  Moreover, based on the representations
of the U.S. carriers, we concluded that no U.S. carrier had aircraft
available which could be used to conduct the operation at issue here.
We further found that the applicant was qualified to perform its
proposed operations (see, e.g., Order 94-10-13).

Except to the extent exempted/waived, this authority is subject to our
standard exemption conditions (attached) and to the condition that
Volga-Dnepr comply with an FAA-approved flight routing for the
authorized flight.

Action taken by:   	Read C. Van de Water

			Assistant Secretary for Aviation

			   and International Affairs

An electronic version of this document is available on the World Wide
Web at:

http://dms.dot.gov//reports/reports_aviation.asp

												        Appendix A

FOREIGN AIR CARRIER CONDITIONS OF AUTHORITY

In the conduct of the operations authorized, the holder shall:

(1)  Not conduct any operations unless it holds a currently effective
authorization from its homeland for such operations, and it has filed a
copy of such authorization with the Department;

(2)  Comply with all applicable requirements of the Federal Aviation
Administration, including, but not limited to, 14 CFR Parts 129, 91, and
36, and with all applicable U.S. Government requirements concerning
security;1

(3)  Comply with the requirements for minimum insurance coverage
contained in 14 CFR Part 205, and, prior to the commencement of any
operations under this authority, file evidence of such coverage, in the
form of a completed OST Form 6411, with the Federal Aviation
Administration’s Program Management Branch (AFS-260), Flight Standards
Service (any changes to, or termination of, insurance also shall be
filed with that office);

(4)  Not operate aircraft under this authority unless it complies with
operational safety requirements at least equivalent to Annex 6 of the
Chicago Convention;

(5)  Conform to the airworthiness and airman competency requirements of
its Government for international air services;

(6)  Except as specifically exempted or otherwise provided for in a
Department Order, comply with the requirements of 14 CFR Part 203,
concerning waiver of Warsaw Convention liability limits and defenses;

(7)  Agree that operations under this authority constitute a waiver of
sovereign immunity, for the purposes of 28 U.S.C. 1605(a), but only with
respect to those actions or proceedings instituted against it in any
court or other tribunal in the United States that are:

   (a)  based on its operations in international air transportation
that, according to the contract of carriage, include a point in the
United States as a point of origin, point of destination, or agreed
stopping place, or for which the contract of carriage was purchased in
the United States; or

   (b)  based on a claim under any international agreement or treaty
cognizable in any court or other tribunal of the United States.

In this condition, the term "international air transportation" means
"international transportation" as defined by the Warsaw Convention,
except that all States shall be considered to be High Contracting
Parties for the purpose of this definition;

(8)  Except as specifically authorized by the Department, originate or
terminate all flights to/from the United States in its homeland;

(9)  Comply with the requirements of 14 CFR Part 217, concerning the
reporting of scheduled, nonscheduled, and charter data;

(10) If charter operations are authorized, except as otherwise provided
in the applicable aviation agreement, comply with the Department's rules
governing charters (including 14 CFR Parts 212 and 380); and

(11) Comply with such other reasonable terms, conditions, and
limitations required by the public interest as may be prescribed by the
Department, with all applicable orders or regulations of other U.S.
agencies and courts, and with all applicable laws of the United States.

This authority shall not be effective during any period when the holder
is not in compliance with the conditions imposed above.  Moreover, this
authority cannot be sold or otherwise transferred without explicit
Department approval under Title 49 of the U.S. Code (formerly the
Federal Aviation Act of 1958, as amended).__________________

1  To assure compliance with all applicable U.S. Government requirements
concerning security, the holder should, before commencing any new
service (including charter flights) from a foreign airport that would be
the holder’s last point of departure for the United States, inform its
Principal Security Inspector of its plans.


[Federal Register Volume 87, Number 205 (Tuesday, October 25, 2022)]
[Notices]
[Page 64506]
[FR Doc No: 2022-23139]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-4671-DR; Docket ID FEMA-2022-0001]

Puerto Rico; Amendment No. 7 to Notice of a Major Disaster
Declaration

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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SUMMARY: This notice amends the notice of a major disaster declaration
for the Commonwealth of Puerto Rico (FEMA-4671-DR), dated September 21,
2022, and related determinations.

DATES: This amendment was issued September 27, 2022.

FOR FURTHER INFORMATION CONTACT: Dean Webster, Office of Response and
Recovery, Federal Emergency Management Agency, 500 C Street SW,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The notice of a major disaster declaration
for the Commonwealth of Puerto Rico is hereby amended to include the
following areas among those areas determined to have been adversely
affected by the event declared a major disaster by the President in his
declaration of September 21, 2022.

    The municipalities of Aguada, Aguadilla, Culebra, San
Sebasti[aacute]n, and Quebradillas for Individual Assistance
(already designated for debris removal and emergency protective
measures [Categories A and B], including direct federal assistance,
under the Public Assistance program).

    The following Catalog of Federal Domestic Assistance Numbers
(CFDA) are to be used for reporting and drawing funds: 97.030,
Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis
Counseling; 97.033, Disaster Legal Services; 97.034, Disaster
Unemployment Assistance (DUA); 97.046, Fire Management Assistance
Grant; 97.048, Disaster Housing Assistance to Individuals and
Households In Presidentially Declared Disaster Areas; 97.049,
Presidentially Declared Disaster Assistance--Disaster Housing
Operations for Individuals and Households; 97.050, Presidentially
Declared Disaster Assistance to Individuals and Households--Other
Needs; 97.036, Disaster Grants--Public Assistance (Presidentially
Declared Disasters); 97.039, Hazard Mitigation Grant.

Deanne Criswell,
Administrator, Federal Emergency Management Agency.
[FR Doc. 2022-23139 Filed 10-24-22; 8:45 am]
BILLING CODE 9111-23-P