[Federal Register Volume 88, Number 137 (Wednesday, July 19, 2023)]
[Notices]
[Pages 46157-46160]
[FR Doc No: 2023-15301]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPPT-2023-0061; FRL-10581-06-OCSPP]

Certain New Chemicals; Receipt and Status Information for June
2023

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: EPA is required under the Toxic Substances Control Act (TSCA),
as amended by the Frank R. Lautenberg Chemical Safety for the 21st
Century Act, to make information publicly available and to publish
information in the Federal Register pertaining to submissions under
TSCA Section 5, including notice of receipt of a Premanufacture notice
(PMN), Significant New Use Notice (SNUN) or Microbial Commercial
Activity Notice (MCAN), including an amended notice or test
information; an exemption application (Biotech exemption); an
application for a test marketing exemption (TME), both pending and/or
concluded; a notice of commencement (NOC) of manufacture (including
import) for new chemical substances; and a periodic status report on
new chemical substances that are currently under EPA review or have
recently concluded review. This document covers the period from 6/1/
2023 to 6/30/2023.

DATES: Comments identified by the specific case number provided in this
document must be received on or before August 18, 2023.

ADDRESSES: Submit your comments, identified by docket identification
(ID) number EPA-HQ-OPPT-2023-0061, through the Federal eRulemaking
Portal at https://www.regulations.gov. Follow the online instructions
for submitting comments. Do not submit electronically any information
you consider to be Confidential Business Information (CBI) or other
information whose disclosure is restricted by statute. Additional
instructions on commenting and visiting the docket, along with more
information about dockets generally, is available at https://www.epa.gov/dockets.

FOR FURTHER INFORMATION CONTACT:
    For technical information contact: Jim Rahai, Project Management
and Operations Division (MC 7407M), Office of Pollution Prevention and
Toxics, Environmental Protection Agency, 1200 Pennsylvania Ave. NW,
Washington, DC 20460-0001; telephone number:<PHONE_NUMBER>; email
address: [email protected].
    For general information contact: The TSCA-Hotline, ABVI-Goodwill,
422 South Clinton Ave., Rochester, NY 14620; telephone number: (202)
554-1404; email address: [email protected].

SUPPLEMENTARY INFORMATION:

I. Executive Summary

A. What action is the Agency taking?

    This document provides the receipt and status reports for the
period from 6/01/2023 to 6/30/2023. The Agency is providing notice of
receipt of PMNs, SNUNs, and MCANs (including amended notices and test
information); an exemption application under 40 CFR part 725 (Biotech
exemption); TMEs, both pending and/or concluded; NOCs to manufacture a
new chemical substance; and a periodic status report on new chemical
substances that are currently under EPA review or have recently
concluded review.
    EPA is also providing information on its website about cases
reviewed under the amended TSCA, including the section 5 PMN/SNUN/MCAN
and exemption notices received, the date of receipt, the final EPA
determination on the notice, and the effective date of EPA's
determination for PMN/SNUN/MCAN notices on its website at: https://www.epa.gov/reviewing-new-chemicals-under-toxic-substances-control-act-tsca/status-pre-manufacture-notices. This information is updated on a
weekly basis.

B. What is the Agency's authority for taking this action?

    Under the Toxic Substances Control Act (TSCA), 15 U.S.C. 2601 et
seq., a chemical substance may be either an ``existing'' chemical
substance or a ``new'' chemical substance. Any chemical substance that
is not on EPA's TSCA Inventory of Chemical Substances (TSCA Inventory)
is classified as a ``new chemical substance,'' while a chemical
substance that is listed on the TSCA Inventory is classified as an
``existing chemical substance.'' (See TSCA section 3(11).) For more
information about the TSCA Inventory please go to: https://www.epa.gov/tsca-inventory.
    Any person who intends to manufacture (including import) a new
chemical substance for a non-exempt commercial purpose, or to
manufacture or process a chemical substance in a non-exempt manner for
a use that EPA has determined is a significant new use, is required by
TSCA section 5 to provide EPA with a PMN, MCAN, or SNUN, as
appropriate, before initiating the activity. EPA will review the
notice, make a risk determination on the chemical substance or
significant new use, and take appropriate action as described in TSCA
section 5(a)(3).
    TSCA section 5(h)(1) authorizes EPA to allow persons, upon
application and under appropriate restrictions, to manufacture or
process a new chemical substance, or a chemical substance subject to a
significant new use rule (SNUR) issued under TSCA section 5(a)(2), for
``test marketing'' purposes, upon a showing that the manufacture,
processing, distribution in commerce, use, and disposal of the chemical
will not present an unreasonable risk of injury to health or the
environment. This is referred to as a test marketing exemption, or TME.
For more information about the requirements applicable to a new
chemical go to: https://www.epa.gov/chemicals-under-tsca.
    Under TSCA sections 5 and 8 and EPA regulations, EPA is required to
publish in the Federal Register certain information, including notice
of receipt of a PMN/SNUN/MCAN (including amended notices and test
information); an exemption application under 40 CFR part 725 (biotech
exemption); an application for a TME, both pending and concluded; NOCs
to manufacture a new chemical substance; and a periodic status report
on the new chemical

substances that are currently under EPA review or have recently
concluded review.

C. Does this action apply to me?

    This action provides information that is directed to the public in
general.

D. Does this action have any incremental economic impacts or paperwork
burdens?

    No.

E. What should I consider as I prepare my comments for EPA?

    1. Submitting confidential business information (CBI). Do not
submit this information to EPA through regulations.gov or email.
Clearly mark the part or all of the information that you claim to be
CBI. For CBI information in a disk or CD-ROM that you mail to EPA, mark
the outside of the disk or CD-ROM as CBI and then identify
electronically within the disk or CD-ROM the specific information that
is claimed as CBI. In addition to one complete version of the comment
that includes information claimed as CBI, a copy of the comment that
does not contain the information claimed as CBI must be submitted for
inclusion in the public docket. Information so marked will not be
disclosed except in accordance with procedures set forth in 40 CFR part
2.
    2. Tips for preparing your comments. When preparing and submitting
your comments, see the commenting tips at https://www.epa.gov/dockets/commenting-epa-dockets.

II. Status Reports

    In the past, EPA has published individual notices reflecting the
status of TSCA section 5 filings received, pending, or concluded. In
1995, the Agency modified its approach and streamlined the information
published in the Federal Register after providing notice of such
changes to the public and an opportunity to comment (see the Federal
Register of May 12, 1995 (60 FR 25798) (FRL-4942-7)). Since the passage
of the Lautenberg amendments to TSCA in 2016, public interest in
information on the status of section 5 cases under EPA review and, in
particular, the final determination of such cases, has increased. In an
effort to be responsive to the regulated community, the users of this
information, and the general public, to comply with the requirements of
TSCA, to conserve EPA resources and to streamline the process and make
it more timely, EPA is providing information on its website about cases
reviewed under the amended TSCA, including the section 5 PMN/SNUN/MCAN
and exemption notices received, the date of receipt, the final EPA
determination on the notice, and the effective date of EPA's
determination for PMN/SNUN/MCAN notices on its website at: https://www.epa.gov/reviewing-new-chemicals-under-toxic-substances-control-act-tsca/status-pre-manufacture-notices. This information is updated on a
weekly basis.

III. Receipt Reports

    For the PMN/SNUN/MCANs that have passed an initial screening by EPA
during this period, Table I provides the following information (to the
extent that such information is not subject to a CBI claim) on the
notices screened by EPA during this period: The EPA case number
assigned to the notice that indicates whether the submission is an
initial submission, or an amendment, a notation of which version was
received, the date the notice was received by EPA, the submitting
manufacturer (i.e., domestic producer or importer), the potential uses
identified by the manufacturer in the notice, and the chemical
substance identity.
    As used in each of the tables in this unit, (S) indicates that the
information in the table is the specific information provided by the
submitter, and (G) indicates that this information in the table is
generic information because the specific information provided by the
submitter was claimed as CBI. Submissions which are initial submissions
will not have a letter following the case number. Submissions which are
amendments to previous submissions will have a case number followed by
the letter ``A'' (e.g. P-18-1234A). The version column designates
submissions in sequence as ``1'', ``2'', ``3'', etc. Note that in some
cases, an initial submission is not numbered as version 1; this is
because earlier version(s) were rejected as incomplete or invalid
submissions. Note also that future versions of the following tables may
adjust slightly as the Agency works to automate population of the data
in the tables.

                        Table I--PMN/SNUN/MCANs Approved * From 06/01/2023 to 06/30/2023
----------------------------------------------------------------------------------------------------------------
       Case No.         Version   Received date      Manufacturer               Use           Chemical substance
----------------------------------------------------------------------------------------------------------------
P-21-0016A...........         4      05/25/2023  CBI.................  (G) Paint additive,   (G) Alkanoic acid,
                                                                        Additive in coating   dialkyl ester.
                                                                        formulations,
                                                                        Component in
                                                                        cleaning agents.
P-21-0016A...........         5      06/19/2023  CBI.................  (G) Paint additive,   (G) Alkanoic acid,
                                                                        Additive in coating   dialkyl ester.
                                                                        formulations,
                                                                        Component in
                                                                        cleaning agents.
P-21-0021A...........         7      05/25/2023  J6 Polymers.........  (S) Raw material to   (S) Soybean oil,
                                                                        be blending into R-   mixed esters with
                                                                        side components of    diethylene glycol,
                                                                        the polyurethane      phthalic acid and
                                                                        and                   terephthalic acid.
                                                                        polyisocyanurate
                                                                        industry.
                                                                        Specifically used
                                                                        in slabstock/
                                                                        bunstock processing
                                                                        of foam.
P-22-0071A...........         5      06/06/2023  CBI.................  (G) Industrial        (S) D-
                                                                        Surfactant.           Glucopyranose,
                                                                                oligomeric,
                                                                                maleates, C9-11-
                                                                                alkyl glycosides,
                                                                                sulfonated,
                                                                                potassium salts.
P-22-0072A...........         5      06/06/2023  CBI.................  (G) Industrial        (S) D-
                                                                        Surfactant.           Glucopyranose,
                                                                                oligomeric,
                                                                                maleates, decyl
                                                                                octyl glycosides,
                                                                                sulfonated,
                                                                                potassium salts.
P-22-0073A...........         5      06/06/2023  CBI.................  (G) Industrial        (S) D-
                                                                        Surfactant.           Glucopyranose,
                                                                                oligomeric,
                                                                                maleates, C10-16-
                                                                                alkyl glycosides,
                                                                                sulfonated,
                                                                                potassium salts.
P-22-0125A...........         4      06/05/2023  CBI.................  (G) Corrosion         (G)
                                                                        inhibitor.            Isononanoylamidoca
                                                                                proic Acid.
P-22-0125A...........         5      06/22/2023  CBI.................  (G) Corrosion         (G)
                                                                        inhibitor.            Isononanoylamidoca
                                                                                proic Acid.

P-22-0140A...........         3      06/07/2023  CBI.................  (G) Corrosion         (G) 6-[(alkyl-1-
                                                                        inhibitor.            oxohexyl)amino]-
                                                                                hexanoic acid,
                                                                                compd. with
                                                                                cyclohexylamine
                                                                                (1:1).
P-23-0013A...........         2      06/26/2023  Honeycomb Techno      (S) Epoxy molding     (S) Phenol, polymer
                                                  Research USA, Inc.    compound for          with 4,4'-
                                                                        electronic device.    bis(chloromethyl)-
                                                                                1,1'-biphenyl.
P-23-0064A...........         3      06/20/2023  CBI.................  (G) Component in      (G) Alkanediol,
                                                                        aerospace coatings.   substituted,
                                                                                polymer with
                                                                                diisocyanatoalkane
                                                                                , substituted
                                                                                heterocycle-
                                                                                modified.
P-23-0066A...........         3      06/01/2023  CBI.................  (G) An antioxidant    (G) Alkylated
                                                                        additive.             phenyl-naphthalene
                                                                                amine.
P-23-0066A...........         4      06/13/2023  CBI.................  (G) An antioxidant    (G) Alkylated
                                                                        additive.             phenyl-naphthalene
                                                                                amine.
P-23-0066A...........         5      06/26/2023  CBI.................  (G) An antioxidant    (G) Alkylated
                                                                        additive.             phenyl-naphthalene
                                                                                amine.
P-23-0142............         1      05/30/2023  CBI.................  (G) Destructive Use.  (G) Alkenal, 9-
                                                                                (acetyloxy)-, (E)-
                                                                                .
P-23-0143............         1      06/13/2023  Sika Corporation....  (S) Retarder for use  (S) L-Lysine, N-(3-
                                                                        in gypsum-based       carboxy-1-
                                                                        construction          oxopropyl)
                                                                        materials.            derivs., sodium
                                                                                salts.
P-23-0144............         1      06/13/2023  Sika Corporation....  (S) Retarder for use  (S) L-Lysine, N-(3-
                                                                        in gypsum-based       carboxy-1-
                                                                        construction          oxopropyl)
                                                                        materials.            derivs., calcium
                                                                                salts.
P-23-0145............         1      06/14/2023  Engineered Bonded     (S) Talathol PO3,     (G) Polyethylene
                                                  Structures and        the material for      terephthalate
                                                  Composites.           which this notice     polyol.
                                                                        is filed, is
                                                                        intended to be used
                                                                        as a copolymer in
                                                                        the production of
                                                                        urethane foam or
                                                                        coating.
P-23-0147............         1      06/16/2023  CBI.................  (G) Photolithography  (G) Sulfonium,
                                                                                tris(heteroatom-
                                                                                substituted
                                                                                carbomonocyclic),
                                                                                salt with
                                                                                polyhydro-
                                                                                polyfluoro-
                                                                                heteroatom-
                                                                                substituted alkyl
                                                                                heteropolycyclic-
                                                                                heteroatom-
                                                                                substituted aryl
                                                                                heteroatom-
                                                                                substituted
                                                                                benzoate (1:1).
P-23-0151............         2      06/28/2023  CBI.................  (G) Oil production..  (G) Amides, from
                                                                                polyalkylamine,
                                                                                dioic acid
                                                                                anhydride and
                                                                                alkyl fatty acids.
P-23-0152............         1      06/28/2023  CBI.................  (G) CMP slurry......  (G) 1-Alkanethiol,
                                                                                3-(trialkoxysilyl)-
                                                                                hydrolysis
                                                                                products with
                                                                                silica, oxidized.
SN-23-0024...........         1      06/27/2023  CBI.................  (G) Component in      (S) Phosphoric
                                                                        batteries.            acid, iron(2+)
                                                                                lithium salt
                                                                                (1:1:1).
----------------------------------------------------------------------------------------------------------------

    In Table II of this unit, EPA provides the following information
(to the extent that such information is not claimed as CBI) on the NOCs
that have passed an initial screening by EPA during this period: The
EPA case number assigned to the NOC including whether the submission
was an initial or amended submission, the date the NOC was received by
EPA, the date of commencement provided by the submitter in the NOC, a
notation of the type of amendment (e.g., amendment to generic name,
specific name, technical contact information, etc.) and chemical
substance identity.

                             Table II--NOCs Approved * From 06/01/2023 to 06/30/2023
----------------------------------------------------------------------------------------------------------------
                                          Commencement    If amendment, type of
        Case No.          Received date       date              amendment               Chemical substance
----------------------------------------------------------------------------------------------------------------
J-22-0019..............      06/23/2023      06/18/2023  N                       (G) Saccharomyces cerevisiae,
                                                                                strain CBI.
J-22-0020..............      06/23/2023      06/18/2023  N                       (G) Saccharomyces cerevisiae,
                                                                                strain CBI.
P-16-0167..............      06/23/2023      06/06/2023  N                       (S) Fatty acids, c12-20, 1, 2,
                                                                                2, 6, 6-pentamethyl-4-
                                                                                piperidinyl esters.
P-20-0044..............      06/26/2023      06/25/2023  N                       (S) 1-propanamine, 3-methoxy-
                                                                                n,n-dimethyl-.
P-20-0076..............      06/02/2023      05/17/2023  N                       (S) Glycine, reaction products
                                                                                with sodium o-iso-pr
                                                                                carbonodithioate, sodium
                                                                                salts.
P-20-0130..............      06/09/2023      05/26/2023  N                       (S) Carbonic acid, diphenyl
                                                                                ester, polymer with 1,10-
                                                                                decanediol, 1,12-dodecanediol,
                                                                                1,6-hexanediol and 1,1'-
                                                                                methylenebis[4-
                                                                                isocyanatobenzene.
P-21-0109..............      06/29/2023      05/29/2023  N                       (S) Naphtha (glyceridic), light
                                                                                alkylate.
P-21-0110..............      06/29/2023      05/29/2023  N                       (S) Naphtha (glyceridic), light
                                                                                catalytic cracked.
P-21-0111..............      06/29/2023      05/29/2023  N                       (S) Naphtha (glyceridic), heavy
                                                                                catalytic cracked.
P-21-0112..............      06/29/2023      05/29/2023  N                       (S) Naphtha (glyceridic), light
                                                                                hydrocracked.
P-21-0113..............      06/29/2023      05/29/2023  N                       (S) Naphtha (glyceridic),
                                                                                isomerization.
P-21-0114..............      06/29/2023      05/29/2023  N                       (S) Naphtha (glyceridic), heavy
                                                                                catalytic reformed.
P-21-0116..............      06/29/2023      05/29/2023  N                       (S) Distillates (glyceridic),
                                                                                hydrotreated light.
P-21-0117..............      06/29/2023      05/29/2023  N                       (S) Distillates (glyceridic),
                                                                                hydrotreated light paraffinic.

P-21-0118..............      06/29/2023      05/29/2023  N                       (S) Distillates (glyceridic),
                                                                                light catalytic cracked.
P-21-0119..............      06/29/2023      05/29/2023  N                       (S) Distillates (glyceridic),
                                                                                heavy hydrocracked.
P-21-0121..............      06/28/2023      05/29/2023  N                       (S) Distillates (glyceridic),
                                                                                heavy catalytic cracked.
P-21-0122..............      06/29/2023      05/29/2023  N                       (S) Naphtha (glyceridic), heavy
                                                                                hydrocracked.
P-21-0123..............      06/29/2023      05/29/2023  N                       (S) Distillates (glyceridic),
                                                                                light hydrocracked.
P-21-0126..............      06/14/2023      06/13/2023  N                       (G) Substituted
                                                                                heteromonocycle, polymer with
                                                                                haloalkyl substituted
                                                                                heteromonocycle, dialkyl-
                                                                                alkanediamine,
                                                                                (alkylalkylidene)bis[hydroxyca
                                                                                rbomonocycle] and
                                                                                oxybis[alkanol], reaction
                                                                                products with metal oxide and
                                                                                dialkanolamine.
P-22-0051..............      06/23/2023      05/31/2023  N                       (S) 2,5-furandione, dihydro-,
                                                                                monopolyisobutylene derivs.,
                                                                                reaction products with
                                                                                tetraethylenepentamine.
----------------------------------------------------------------------------------------------------------------
* The term `Approved' indicates that a submission has passed a quick initial screen ensuring all required
  information and documents have been provided with the submission.

    In Table III of this unit, EPA provides the following information
(to the extent such information is not subject to a CBI claim) on the
test information that has been received during this time period: The
EPA case number assigned to the test information; the date the test
information was received by EPA, the type of test information
submitted, and chemical substance identity.

   Table III--Test Information Received From 06/01/2023 to 06/30/2023
------------------------------------------------------------------------
                                       Type of test         Chemical
     Case No.        Received date     information         substance
------------------------------------------------------------------------
P-14-0712.........      06/13/2023  Polychlorinated    (S) Waste
                                     Dibenzodioxins     plastics,
                                     and                pyrolyzed, C5-55
                                     Polychlorinated    fraction.
                                     dibenzofurans
                                     Testing.
P-14-0712.........      06/07/2023  Polychlorinated    (S) Waste
                                     Dibenzodioxins     plastics,
                                     and                pyrolyzed, C5-55
                                     Polychlorinated    fraction.
                                     dibenzofurans
                                     Testing.
P-16-0543.........      06/20/2023  Exposure           (G)
                                     Monitoring         Halogenophosphor
                                     Report.            ic acid metal
                                                        salt.
P-16-0543.........      06/06/2023  Exposure           (G)
                                     Monitoring         Halogenophosphor
                                     Report.            ic acid metal
                                                        salt.
P-22-0167.........      06/23/2023  72 hour & 96 hour  (G) 1,2-
                                     Freshwater Algae   cycloalkanedicar
                                     Exposure Testing.  boxylic acid,
                                                        1,2-bis(2-
                                                        oxiranylalkyl)
                                                        ester, reaction
                                                        products with
                                                        unsaturated
                                                        carboxylic acid.
------------------------------------------------------------------------

    If you are interested in information that is not included in these
tables, you may contact EPA's technical information contact or general
information contact as described under FOR FURTHER INFORMATION CONTACT
to access additional non-CBI information that may be available.

    Authority: 15 U.S.C. 2601 et seq.

    Dated: July 13, 2023.
Pamela Myrick,
Director, Project Management and Operations Division, Office of
Pollution Prevention and Toxics.
[FR Doc. 2023-15301 Filed 7-18-23; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 80, Number 52 (Wednesday, March 18, 2015)]
[Notices]
[Page 14103]
[FR Doc No: 2015-06132]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER15-1176-000]

South Jersey Energy ISO6, LLC; Supplemental Notice That Initial
Market-Based Rate Filing Includes Request for Blanket Section 204
Authorization

    This is a supplemental notice in the above-referenced proceeding,
of South Jersey Energy ISO6, LLC's application for market-based rate
authority, with an accompanying rate schedule, noting that such
application includes a request for blanket authorization, under 18 CFR
part 34, of future issuances of securities and assumptions of
liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street NE., Washington,
DC 20426, in accordance with Rules 211 and 214 of the Commission's
Rules of Practice and Procedure (18 CFR 385.211 and 385.214). Anyone
filing a motion to intervene or protest must serve a copy of that
document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability is March 30, 2015.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with Internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically should submit an original and
5 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First Street NE., Washington, DC 20426.
    The filings in the above-referenced proceeding(s) are accessible in
the Commission's eLibrary system by clicking on the appropriate link in
the above list. They are also available for review in the Commission's
Public Reference Room in Washington, DC. There is an eSubscription link
on the Web site that enables subscribers to receive email notification
when a document is added to a subscribed docket(s). For assistance with
any FERC Online service, please email<EMAIL_ADDRESS>or
call<PHONE_NUMBER> (toll free). For TTY, call<PHONE_NUMBER>.

    Dated: March 10, 2015.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2015-06132 Filed 3-17-15; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 85, Number 240 (Monday, December 14, 2020)]
[Notices]
[Pages 80781-80782]
[FR Doc No: 2020-27438]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following electric
corporate filings:
    Docket Numbers: EC21-32-000.
    Applicants: Montauk Holdings USA, LLC, Montauk Renewables, Inc.,
Bowerman Power LFG, LLC, Pico Energy, LLC, TX LFG Energy, LP, Tulsa
LFG, LLC.
    Description: Application for Authorization Under Section 203 of the
Federal Power Act of Montauk Holdings USA, LLC, et al.
    Filed Date: 12/7/20.
    Accession Number: 20201207-5215.
    Comments Due: 5 p.m. ET 12/28/20.

    Take notice that the Commission received the following exempt
wholesale generator filings:

    Docket Numbers: EG21-49-000.
    Applicants: 325MK 8ME LLC.
    Description: Self-Certification of Exempt Wholesale Generator
Status of 325MK 8ME LLC.
    Filed Date: 12/4/20.
    Accession Number: 20201204-5261.
    Comments Due: 5 p.m. ET 12/28/20.

    Docket Numbers: EG21-50-000.
    Applicants: Chalk Point Power, LLC.
    Description: Notice of Self-Certification of Exempt Wholesale
Generator Status of Chalk Point Power, LLC.
    Filed Date: 12/4/20.
    Accession Number: 20201204-5262.
    Comments Due: 5 p.m. ET 12/28/20.

    Take notice that the Commission received the following electric
rate filings:
    Docket Numbers: ER10-2331-073.
    Applicants: J.P. Morgan Ventures Energy Corporation.
    Description: Response to November 6, 2020 Deficiency Letter of the
J.P. Morgan Ventures Energy Corporation.
    Filed Date: 12/7/20.
    Accession Number: 20201207-5225.
    Comments Due: 5 p.m. ET 12/28/20.

    Docket Numbers: ER15-1471-010; ER16-915-003; ER15-1672-009; ER10-
2861-008; ER19-2287-001; ER16-2010-004; ER19-2289-001; ER19-2294-001;
ER12-1308-011; ER16-711-007; ER16-2561-004; ER13-1504-009; ER19-2305-
001.
    Applicants: Blue Sky West, LLC, Comanche Solar PV, LLC, Evergreen
Wind Power II, LLC, Fountain Valley Power, L.L.C., Goal Line L.P.,
Hancock Wind, LLC, KES Kingsburg, L.P., Mesquite Power, LLC, Palouse
Wind, LLC, Pio Pico Energy Center, LLC, Sunflower Wind Project, LLC,
SWG Arapahoe, LLC, Valencia Power, LLC.
    Description: Response to November 6, 2020 Deficiency Letter of Blue
Sky West, LLC, et. al.
    Filed Date: 12/7/20.
    Accession Number: 20201207-5232.
    Comments Due: 5 p.m. ET 12/28/20.

    Docket Numbers: ER20-2721-002.
    Applicants: Smoky Mountain Transmission LLC.
    Description: Tariff Amendment: Resubmission of Interconnection and
Transmission Service Agreement to be effective 2/7/2021.
    Filed Date: 12/8/20.
    Accession Number: 20201208-5026.
    Comments Due: 5 p.m. ET 12/29/20.

    Docket Numbers: ER21-117-001.
    Applicants: System Energy Resources, Inc.
    Description: Tariff Amendment: SERI UPSA Ratebase Credit to be
effective 10/16/2020.
    Filed Date: 12/7/20.
    Accession Number: 20201207-5123.
    Comments Due: 5 p.m. ET 12/28/20.

    Docket Numbers: ER21-129-001.
    Applicants: System Energy Resources, Inc.
    Description: Tariff Amendment: SERI UPSA Excess ADIT Credit to be
effective 10/17/2020.
    Filed Date: 12/8/20.
    Accession Number: 20201208-5084.
    Comments Due: 5 p.m. ET 12/29/20.

    Docket Numbers: ER21-195-001.
    Applicants: LS Power Grid California, LLC.
    Description: Tariff Amendment: LS Power Grid California Amended
Filing to be effective 12/31/9998.
    Filed Date: 12/8/20.
    Accession Number: 20201208-5137.
    Comments Due: 5 p.m. ET 12/29/20.

    Docket Numbers: ER21-598-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Original WMPA, Service
Agreement No. 5860; Queue No. AF2-099 to be effective 11/10/2020.
    Filed Date: 12/8/20.
    Accession Number: 20201208-5019.
    Comments Due: 5 p.m. ET 12/29/20.

    Docket Numbers: ER21-599-000.
    Applicants: Smoky Mountain Transmission LLC.
    Description: Tariff Cancellation: Notice of Cancellation to be
effective 2/7/2021.
    Filed Date: 12/8/20.
    Accession Number: 20201208-5030.
    Comments Due: 5 p.m. ET 12/29/20.

    Docket Numbers: ER21-600-000.
    Applicants: AEP Texas Inc.
    Description: Sec.  205(d) Rate Filing: AEPTX-LCRA TSC (Ft. Stockton
Sw) Facilities Development Agreement to be effective 11/19/2020.
    Filed Date: 12/8/20.
    Accession Number: 20201208-5033.
    Comments Due: 5 p.m. ET 12/29/20.

    Docket Numbers: ER21-601-000.
    Applicants: AEP Texas Inc.
    Description: Sec.  205(d) Rate Filing: AEPTX-Sparta Solar 1st A&R
Generation Interconnection Agreement to be effective 11/23/2020.
    Filed Date: 12/8/20.
    Accession Number: 20201208-5038.
    Comments Due: 5 p.m. ET 12/29/20.

    Docket Numbers: ER21-602-000.
    Applicants: AEP Texas Inc.
    Description: Sec.  205(d) Rate Filing: AEPTX-Taygete Energy Project
(Taygete 1) 3rd A&R Generation Interconnection Agmt to be effective 12/
2/2020.
    Filed Date: 12/8/20.
    Accession Number: 20201208-5047.
    Comments Due: 5 p.m. ET 12/29/20.

    Docket Numbers: ER21-603-000.
    Applicants: Midcontinent Independent System Operator, Inc., Ameren
Transmission Company of Illinois, Duke Energy Indiana, LLC.
    Description: Sec.  205(d) Rate Filing: 2020-12-08_SA 3598 Duke
Energy-ATXI TIA to be effective 11/30/2020.

    Filed Date: 12/8/20.
    Accession Number: 20201208-5063.
    Comments Due: 5 p.m. ET 12/29/20.

    Docket Numbers: ER21-604-000.
    Applicants: Alabama Power Company.
    Description: Tariff Cancellation: Charlton Solar Energy Center LGIA
Termination Filing to be effective 12/8/2020.
    Filed Date: 12/8/20.
    Accession Number: 20201208-5067.
    Comments Due: 5 p.m. ET 12/29/20.

    Docket Numbers: ER21-605-000.
    Applicants: Mid-Atlantic Interstate Transmission, LLC, PJM
Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Mid-Atlantic Interstate
Transmission submits Revised IA SA No. 4577 to be effective 2/7/2021.
    Filed Date: 12/8/20.
    Accession Number: 20201208-5072.
    Comments Due: 5 p.m. ET 12/29/20.

    Docket Numbers: ER21-606-000.
    Applicants: Tri-State Generation and Transmission Association, Inc.
    Description: Sec.  205(d) Rate Filing: Rate Schedule FERC No. 317
between Tri-State and MCREA to be effective 2/26/2020.
    Filed Date: 12/8/20.
    Accession Number: 20201208-5086.
    Comments Due: 5 p.m. ET 12/29/20.

    Take notice that the Commission received the following electric
securities filings:

    Docket Numbers: ES21-11-000; ES21-12-000; ES21-13-000; ES21-14-000;
ES21-15-000; ES21-16-000
    Applicants: Massachusetts Electric Company, Nantucket Electric
Company, The Narragansett Electric Company, Niagara Mohawk Power
Corporation, New England Hydro-Transmission Electric Company, Inc.,
National Grid Generation LLC.
    Description: Joint Application Under Section 204 of the Federal
Power Act for Authorization to Issue Securities of Massachusetts
Electric Company, et al.
    Filed Date: 12/4/20.
    Accession Number: 20201204-5260.
    Comments Due: 5 p.m. ET 12/28/20.

    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.

    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: December 8, 2020.
Kimberly D. Bose,
Secretary.
[FR Doc. 2020-27438 Filed 12-11-20; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 78, Number 41 (Friday, March 1, 2013)]
[Notices]
[Page 13870]
[FR Doc No: 2013-04758]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. DI13-3-000]

Roberto Sella; Notice of Declaration of Intention and Soliciting
Comments, Protests, and/or 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.: DI13-3-000.
    c. Date Filed: February 7, 2012.
    d. Applicant: Roberto Sella.
    e. Name of Project: Hydro-electric and Geothermal Alternative
Energy System at Paper Hill Farm (Paper Hill Farm).
    f. Location: The proposed Paper Hill Farm project will be located
on Ridley Creek, at Paper Hill Farm, in the town of Malvern, Chester
County, Pennsylvania.
    g. Filed Pursuant to: Section 23(b)(1) of the Federal Power Act, 16
U.S.C. 817(b).
    h. Applicant Contact: Roberto Sella, 2929 Market Street, Cira
Center 3rd Floor Suite 325, Philadelphia, PA 19104; telephone: (267)
298-5484; email<EMAIL_ADDRESS>    i. FERC Contact: Any questions on this notice should be addressed
to Ashish Desai,<PHONE_NUMBER>, or Email address:
<EMAIL_ADDRESS>    j. Deadline for filing comments, protests, and/or motions is: 30
days from the issuance of this notice by the Commission.
    Comments, Motions to Intervene, and Protests may be filed
electronically via the Internet. See 18 CFR 385.2001(a)(l)(iii) and the
instructions on the Commission's Web site under the ``eFiling'' link.
If unable to be filed electronically, documents may be paper-filed. To
paper-file, an original and eight copies should be mailed to: Kimberly
D. Bose, Secretary, Federal Energy Regulatory Commission, 888 First
Street NE., Washington, DC 20426. For more information on how to submit
these types of filings, please go to the Commission's Web site located
at http://www.ferc.gov/filing-comments.asp.
    Please include the docket number (DI13-3-000) on any comments,
protests, and/or motions filed.
    k. Description of Project: The proposed run-of-river Paper Hill
Farm project will consist of: (1) Water transported from a creek into a
1.9 acre pond dredged to an even depth of 6-feet; (2) a 36-inch-
diameter pipe fitted with a 24-inch-diameter sleeve at an existing
outlet at the base of existing dam; (3) a custom 15-kilowatt turbine/
generator, to be located in a powerhouse below the dam; (4) a 24-inch-
diameter tailrace pipe, directing the water into Ridley Creek; and (5)
appurtenant facilities. The power generated will be used by a
geothermal heating and cooling system located under the pond. Excess
power will then be made available to the main house and other
structures on Paper Hill Farm at a connection to the Philadelphia
Electric Company's power grid.
    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 interests of interstate or foreign
commerce would be affected by the project. The Commission also
determines whether or not the project: (1) Would be located on a
navigable waterway; (2) would occupy or affect public lands or
reservations of the United States; (3) would utilize surplus water or
water power from a government dam; or (4) if applicable, has involved
or would involve any construction subsequent to 1935 that may have
increased or would increase the project's head or generating capacity,
or have otherwise significantly modified the project's pre-1935 design
or operation.
    l. Locations of the Application: Copies of this filing are on file
with the Commission and are available for public inspection. This
filing may be viewed on the Web at http://www.ferc.gov using the
``eLibrary'' link. 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 1-866-208-3676 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.
    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,
.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/
OR ``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: February 25, 2013.
Kimberly D. Bose,
Secretary.
[FR Doc. 2013-04758 Filed 2-28-13; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 77, Number 77 (Friday, April 20, 2012)]
[Notices]
[Pages 23793-23794]
[FR Doc No: 2012-9551]

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DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

[Docket No. FMCSA-2012-0048]

Agency Information Collection Activities; Extension of a
Currently-Approved Information Collection: Annual and Quarterly Report
of Class I Motor Carriers of Passengers

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT.

ACTION: Notice and request for comments.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, FMCSA
announces its plan to submit to the Office of Management and Budget
(OMB) its request to revise a currently-approved information collection
for Class I Motor Carriers of Passengers, (Form MP-1) entitled,
``Annual and Quarterly Reports.'' This information collection is
necessary to ensure that motor carriers comply with financial and
operating statistics requirements at 49 CFR part 369. The agency
invites public comments on this information request.

DATES: We must receive your comments on or before June 19, 2012.

ADDRESSES: You may submit comments bearing the Federal Docket
Management System (FDMS) Docket Number FMCSA-2012-0048 using any of the
following methods:
     Federal eRulemaking Portal: http://www.regulations.gov.
Follow the online instructions for submitting comments.
     Fax: 1-202-493-2251.
     Mail: Docket Management Facility; U.S. Department of
Transportation, 1200 New Jersey Avenue SE., West Building, Ground
Floor, Room W12-140, 20590-0001.
     Hand Delivery or Courier: West Building, Ground Floor,
Room W12-140, 1200 New Jersey Avenue SE., Washington, DC, between 9
a.m. and 5 p.m. e.t., Monday through Friday, except Federal holidays.
    Instructions: All submissions must include the Agency name and
docket number. For detailed instructions on submitting comments, see
the Public Participation heading below. Note that all comments received
will be posted without change to http://www.regulations.gov, including
any personal information provided. Please see the Privacy Act heading
below.
    Docket: For access to the docket to read background documents or
comments received, go to http://www.regulations.gov, and follow the
online instructions for accessing the dockets, or go to the street
address listed above.
    Privacy Act: Anyone is able to search the electronic form of all
comments received into any of our dockets by the name of the individual
submitting the comment (or signing the comment, if submitted on behalf
of an association, business, labor union, etc.). You may review DOT's
complete Privacy Act Statement for the Federal Docket Management System
published in the Federal Register on January 17, 2008 (73 FR 3316), or
you may visit http://edocket.access.gpo.gov/2008/pdfE8-794.pdf.
    Public Participation: The Federal eRulemaking Portal is available
24 hours each day, 365 days each year. You can obtain electronic
submission and retrieval help and guidelines under the ``help'' section
of the Federal eRulemaking Portal Web site. If you want us to notify
you that we received your comments, please include a self-addressed,
stamped envelope or postcard, or print the acknowledgement page that
appears after submitting comments online. Comments received after the
comment closing date will be included in the docket and will be
considered to the extent practicable.

FOR FURTHER INFORMATION CONTACT: Ms. Vivian Oliver, Office of Research
and Information Technology, Department of Transportation, Federal Motor
Carrier Safety Administration, West Building 6th Floor, 1200 New Jersey
Avenue SE., Washington, DC 20590. Telephone:<PHONE_NUMBER>; email
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Background: For-hire Class I motor carriers
of passengers (including interstate and intrastate) \1\ are required

to file Motor Carrier Quarterly and Annual Reports (Form MP-1) that
provide financial and operating data (see 49 U.S.C. 14123; and
implementing FMCSA regulations at 49 CFR part 369). The agency uses
this information to assess the health of the industry and identify
industry changes that may affect national transportation policy. The
data also show company financial stability and traffic patterns. Motor
carriers of passengers required to comply with the regulations are
classified on the basis of their annual gross carrier operating
revenues. Under the Financial & Operating Statistics (F&OS) program the
FMCSA collects balance sheet and income statement data along with
information on tonnage, mileage, employees, transportation equipment,
and other related data.
---------------------------------------------------------------------------

    \1\ For purposes of the Financial & Operating Statistics (F&OS)
program, passenger carriers are classified into the following two
groups: (1) Class I carriers are those having average annual gross
transportation operating revenues (including interstate and
intrastate) of $5 million or more from passenger motor carrier
operations after applying the revenue deflator formula in the Note
of section 1420.3; (2) Class II passenger carriers are those having
average annual gross transportation operating revenues (including
interstate and intrastate) of less than $5 million from passenger
motor carrier operations after applying the revenue deflator formula
as shown in Note A of section 1420.3. Only Class I carriers of
passengers are required to file Annual and Quarterly Report Form MP-
1, but Class II passenger carriers must notify the agency when there
is a change in their classification or their revenues exceed the
Class II limit.
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    The data and information collected is made publicly available as
prescribed in 49 CFR part 369. The regulations were formerly
administered by the Interstate Commerce Commission (ICC), the
Interstate Commerce Act, 49 U.S.C. 11145, 49 U.S.C. 11343(d)(1) and the
Bus Regulatory Act of 1982 and later transferred to the U.S. Department
of Transportation on January 1, 1996, by the ICC Termination Act of
1995 (ICCTA) (Pub. L. 104-88, 109 Stat. 803 (Dec. 29, 1995)), now
codified at 49 U.S.C. 14123. The Secretary of Transportation
(Secretary) transferred the authority to administer the F&OS program to
the former Bureau of Transportation Statistics on September 30, 1998
(63 FR 52192). Pursuant to this authority, the BTS, now part of the
Research and Innovative Technology Administration (RITA), became the
responsible DOT modal administration for implementing the F&OS program
and requirements at 49 CFR part 1420. On September 29, 2004, the
Secretary transferred the responsibility for the F&OS program from BTS,
to FMCSA (69 FR 51009). On August 10, 2006 (71 FR 45740), the Secretary
published a final rule that transferred and redesignated the motor
carrier financial and statistical reporting regulations of BTS that
were formerly located at chapter XI of title 49 CFR to FMCSA in 49
chapter III of title 49 CFR part 369.
    FMCSA plans to initiate a regulatory proceeding in the near future
that will result in the elimination of two quarterly reporting
requirements that are currently reported to OMB under the Paperwork
Reduction Act (PRA) of 1995 (44 U.S.C. 3501-3520). These forms include:
(1) Form QFR Quarterly for property carriers, authorized by OMB under
information collection 2126-0033; and (2) the Class I passenger carrier
financial quarterly survey (MP-1 Quarterly), authorized by OMB under
information collection 2126-0031. The FMCSA does not have the statutory
authority to eliminate the annual reporting requirements for property
or passengers. FMCSA will be publishing a direct final rule that will
include additional information, including the reduced paperwork burden,
resulting from this future action.
    Title: Annual and Quarterly Report of Class I Motor Carriers of
Passengers (OMB 2139-0003).
    OMB Control Number: 2126-0031.
    Type of Request: Extension of a currently approved information
collection request.
    Respondents: Class I Motor Carriers of Passengers.
    Estimated Number of Respondents: 2.
    Estimated Time per Response: 18 minutes per response.
    Expiration Date: September 30, 2012.
    Frequency of Response: Annually and Quarterly.
    Estimated Total Annual Burden: 3 hours [10 responses x 18 minutes
per response/60 minutes].
    Public Comments Invited: You are asked to comment on any aspect of
this information collection, including: (1) Whether the proposed
collection is necessary for the agency to perform its mission; (2) the
accuracy of the estimated burden; (3) ways for FMCSA to enhance the
quality, usefulness, and clarity of the collected information; and (4)
ways that the burden could be minimized without reducing the quality of
the collected information. The agency will summarize or include your
comments in the request for OMB's clearance of this information
collection.

    Issued on: April 12, 2012.
Kelly Leone,
Associate Administrator for Office of Research and Information
Technology.
[FR Doc. 2012-9551 Filed 4-19-12; 8:45 am]
BILLING CODE 4910-EX-P


[Federal Register Volume 77, Number 56 (Thursday, March 22, 2012)]
[Notices]
[Pages 16879-16883]
[FR Doc No: 2012-6867]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-66616; File No. SR-Phlx-2012-11]

Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Order
Granting Approval of Proposed Rule Change Regarding the Listing and
Trading of PHLX FOREX OptionsTM

March 16, 2012.

I. Introduction

    On January 23, 2012, NASDAQ OMX PHLX LLC (``Exchange'' or ``Phlx'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to
list and trade U.S. dollar-settled foreign currency options known as
PHLX FOREX Options on the British pound, the Swiss franc, the Canadian
dollar, the Australian dollar, the New Zealand dollar, and the Euro
(``PHLX FOREX Options''). The proposed rule change was published for
comment in the Federal Register on February 1, 2012.\3\ The Commission
received no comment letters on the proposed rule change. This order
approves the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 66257 (January 26,
2012), 77 FR 5073 (``Notice'').
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II. Description of the Proposed Rule Change

    The Exchange proposes to list and trade foreign currency options
known as PHLX FOREX Options on the British pound, the Swiss franc, the
Canadian dollar, the Australian dollar, the New Zealand dollar, and the
Euro. The proposal establishes new Rules 1000C through 1009C that
would, in conjunction with current Exchange trading rules, allow
listing and trading of PHLX FOREX Options. The Exchange also is
amending Phlx Option Floor Procedure Advices F-6 \4\ and F-15 \5\
(``OFPAs or Advices'') to harmonize the Exchange Advices and the
proposed PHLX FOREX Options rules.
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    \4\ Specifically, the Exchange proposes to amend Advice F-6 to
reflect ``expressed as'' pricing for maximum quotes spread
parameters in light of bid and ask differentials. The Exchange notes
that this change will harmonize Advice F-6 with its corresponding
proposed rule 1003C, so that the same pricing is reflected in the
rule and the Advice.
    \5\ The Exchange also proposes to amend Advice F-15, which
discusses minor infractions of position/exercise limits and hedge
exemptions, to reflect the addition of proposed Rules 1008C and
1009C. The Exchange notes that this will harmonize Advice F-15 with
its corresponding proposed Rules 1008C and 1009C, and thereby
include minor violations of the proposed rules in the Exchange's
Minor Rule Plan as reflected in the Advices.
---------------------------------------------------------------------------

    The proposal allows the listing and trading of PHLX FOREX Options
on six of the same foreign currencies that underlie another type of
foreign currency option that is currently listed and traded on the
Exchange (referred to as either ``FCOs'' or World Currency Options,
``WCOs''), including the British pound, the Swiss franc, the Canadian
dollar, the Australian dollar, the New Zealand dollar, and the Euro.\6\
The proposal does not affect the continued listing and trading of FCOs
on the Exchange, as PHLX FOREX Options will be eligible to list and
trade in parallel to current FCOs.\7\
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    \6\ The product specifications for the current FCOs can be found
at http://www.nasdaqomxtrader.com/wco. The Exchange currently lists
eleven FCOs that trade in the manual auction market as well as
electronically. The currencies underlying these FCOs include: the
Australian dollar, the British pound, the Canadian dollar, the Euro,
the Japanese yen, the Mexican peso, the New Zealand dollar, the
Norwegian krone, the South African rand, the Swedish krona, and the
Swiss franc.
    \7\ However, Phlx proposes to amend the FCO rules in one respect
to provide that, for purposes of determining position and exercise
limits, FCO options will be aggregated with PHLX FOREX Options that
are listed on the same underlying currency. See infra note 30.
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    PHLX FOREX Options will be similar, and in many respects identical,
to FCOs. As such, the proposed rules provide that the Exchange's
existing rules and procedures will be applicable to PHLX FOREX Options,
and the proposed PHLX FOREX Options rules will supplement existing
rules. For example, PHLX FOREX Options will follow the rules that are
currently applicable to FCOs that pertain to areas such as hours of
trading, quoting and market making requirements, margin requirements,
reporting options positions, filing trade information, and FLEX
trading.\8\
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    \8\ See Exchange Rules 101, 1014, 721, 1003, 1053, and 1079,
respectively. In its filing, the Exchange notes that other Exchange
rules that are applicable to the trading of foreign currency options
products include Rules 1006 (Other Restrictions on Exchange Options
Transactions and Exercises); 1014 (Obligations and Restrictions
Applicable to Specialists and Registered Options Traders); 1022
(Securities Accounts and Orders of Specialists and Registered
Options Traders); 1024 (Conduct of Accounts for Options Trading);
1025 (Supervision of Accounts); 1027 (Discretionary Accounts); 1028
(Confirmations); 1039 (Resolution Of Uncompared Trade); 1043
(Allocation of Exercise Notices); 1044 (Delivery and Payment); 1045
(Officers And Employees Restricted); 1047 (Trading Rotations, Halts
and Suspensions); 1049 (Communications to Customers); 1063
(Responsibilities of Floor Brokers); 1064 (Crossing, Facilitation
and Solicited Orders); 1066 (Certain Types of Orders Defined); 1068
(Execution of Multi-Part Orders); 1080 (Phlx XL and Phlx XL II);
1083 (Order Protection; Locked and Crossed Markets); 1089 (Dealing
Directly With Specialist and Registered Option Trader in Foreign
Currency Options); and 1092 (Obvious Errors and Catastrophic
Errors). See Notice, supra note 3, 77 FR at 5078.

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    New Rule 1000C states that unless otherwise specified, the proposed
rules in the Rule 1000C series of rules (``Rule 1000C Series'') are
applicable only to PHLX FOREX Options. Further, Rule 1000C provides
that except to the extent that specific rules in the Rule 1000C Series
govern, or unless the context otherwise requires, the provisions of the
Option Rules applicable to FCOs \9\ and of the By-Laws and all other
Rules and Policies of the Board of Directors are applicable to the
trading on the Exchange of PHLX FOREX Options.
---------------------------------------------------------------------------

    \9\ Exchange Option Rules 1000 et seq. and 1000A et seq.
---------------------------------------------------------------------------

    To minimize investor confusion, the Exchange has represented that
it intends to engage in an educational effort to inform potential
traders about the differences in the PHLX FOREX Options as compared to
FCO products.\10\
---------------------------------------------------------------------------

    \10\ See Notice, supra note 3, 77 FR at 5075. For example, as
discussed in the Exchange's filing, the pricing of PHLX FOREX
Options and FCOs will be different in that the pricing of a Euro
PHLX FOREX Option will resemble spot market pricing (e.g., 1.0031)
while the pricing of a Euro FCO will resemble index option pricing
(e.g., 100.31). See Notice, supra note 3, 77 FR at 5076. Further,
the pricing symbology will be different in that PHLX FOREX Option
prices would be stated out to four decimal places while FCOs are
priced out to two places.
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Pricing Convention

    In its filing, the Exchange noted that the primary difference
between current FCOs and proposed PHLX FOREX Options will be the
pricing convention of PHLX FOREX Options, which resembles the ``spot
market pricing'' on the underlying currencies.\11\ This is the same
convention that is used for currency futures and options on currency
futures contracts on the same underlying currencies.\12\ Currently, the
Exchange receives spot market prices for currencies underlying the FCOs
from a data vendor, which at this time is SIX Telekurs,\13\ and
converts such spot market prices to ``Exchange Spot Prices'' by
applying an appropriate multiplier (e.g., 100 or 1000).\14\ The closing
settlement value for FCO settlement purposes is the Exchange Spot Price
at 12:00:00 Eastern Time (noon) on the last trading day prior to
expiration.\15\ The Exchange currently generates a settlement value
report for each underlying currency and publicly disseminates unique
FCO symbols and settlement values in order to differentiate between
live underlying markets and 12:00:00 noon FCO settlement prices.
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    \11\ See Notice, supra note 3, 77 FR at 5074. See also proposed
Exchange Rule 1001C.
    \12\ A currency futures contract is a transferable futures
contract that specifies the price at which a currency can be bought
or sold at a future expiration date. CME Group Inc. lists and trades
futures and options on futures contracts on many of the same
currencies that the Exchange is proposing for PHLX FOREX Options,
including the Australian dollar, the British pound, the Canadian
dollar, and the Euro. Examples of settlement (closing) spot prices
of futures contracts on these currencies can be found at ftp://ftp.cmegroup.com/pub/settle/stlcur.
    \13\ According to the Exchange, SIX Telekurs specializes in the
procurement, processing and distribution of international financial
information for investment advisory services, fund administration,
portfolio management, financial analysis and securities
administration. SIX Telekurs collects data directly from hundreds of
contributors and exchanges as well as more than thirty (30)
worldwide contributing banks. See Notice, supra note 3, 77 FR at
5075. This data serves as the basis for the foreign currency spot
market prices that SIX Telekurs provides to the Exchange.
    The Exchange notes that spot market prices for currencies
underlying PHLX FOREX Options are also calculated by other entities
and available to investors from other sources such as market data
vendors Bloomberg, Reuters, and Thomson. Investors can also get spot
market prices for free from sources such as http://finance.yahoo.com/; as well as from brokers with whom investors have
a trading account. See Notice, supra note 3, 77 FR at 5075.
    \14\ For a definition of Exchange Spot Price, see Rule
1000(b)16.
    The International Securities Exchange, LLC (``ISE'') similarly
applies multipliers to its cash-settled rate-modified currency
options (which are not fungible with Phlx's FCOs) so that they tend
to look like the prices of index and other options. See Securities
Exchange Act Release No. 55575 (April 3, 2007), 72 FR 17963 (April
10, 2007) (SR-ISE-2006-59).
    \15\ See Exchange Rule 1057.
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    Unlike FCOs, the proposed PHLX FOREX Options will not use the
modified ``Exchange Spot Prices'' for settlement purposes. Instead, the
Exchange will use the spot market prices that it receives from its data
vender (i.e., SIX Telekurs) at 12:00:00 Eastern Time (noon) on the last
trading day prior to expiration to calculate settlement values. In
other words, the Exchange will not apply a multiplier to the spot price
for FOREX Options as it does for FCOs.\16\ PHLX FOREX Option settlement
values will be, similarly to FCOs, publicly disseminated with unique
symbols to differentiate between live underlying markets and 12:00:00
Eastern Time (noon) PHLX FOREX Option settlement prices. Except for
applying multipliers for FCO settlement values, the settlement value
methodologies will largely be similar for PHLX FOREX Options and FCOs.
---------------------------------------------------------------------------

    \16\ See Proposed Exchange Rule 1006C. For example, the July
2012 settlement value of a PHLX FOREX Option on the Euro may be
$1.4338 based on the spot market price of the underlying currency;
whereas the July 2012 settlement value price of a FCO on the Euro
may be $143.38 based on the application of a 100 multiplier to the
similar spot market price.
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    Similar to FCOs, PHLX FOREX Options listed by the Exchange will be
European-style exercise.\17\ Upon exercise, holders of options
contracts would receive U.S. dollars representing the difference
between the exchange rate and the exercise price of the option, which
would be multiplied by the units of currency in each PHLX FOREX Option
contract.\18\ Additionally, PHLX FOREX Options that are in-the-money by
any amount on the expiration date would be exercised automatically by
OCC, while PHLX FOREX Options that are out-of-the-money on the
expiration date would expire worthless. The Exchange anticipates that
PHLX FOREX Options will be cleared by The Options Clearing Corporation
(``OCC'').\19\
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    \17\ Unlike American style options, European style options may
be exercised only on the day that they expire.
    \18\ See Proposed Exchange Rule 1006C. Each PHLX FOREX Option
contract for the six currencies discussed in this filing would, like
each FCO contract, have 10,000 units of currency. The product
specifications for the new PHLX FOREX Options may be found at http://www.nasdaqomxtrader.com/wco.
    \19\ The Exchange's FCOs are cleared by OCC. See Securities
Exchange Act Release No. 54935 (December 13, 2006), 71 FR 76417
(December 20, 2006) (SR-OCC-2006-10) (order approving amendments to
OCC's by-laws and rules to accommodate the clearance and settlement
of the Exchange's FCOs).
---------------------------------------------------------------------------

Opening and Adding New PHLX FOREX Options

    The Exchange proposes Rule 1002C regarding the series of underlying
PHLX FOREX Options that may be opened for trading after a particular
class of PHLX FOREX Option has been approved for listing and trading on
the Exchange. Specifically, the Exchange proposes that, at the
commencement of trading on the Exchange of a particular class of PHLX
FOREX Options, the Exchange will open a minimum of one expiration month
and series for each class of options open for trading on the
Exchange.\20\ The exercise price of each series of PHLX FOREX Options
opened for trading on the Exchange will be fixed in terms of U.S.
dollars per unit of the underlying currency at a price per

unit which is reasonably close to the current spot market price of the
underlying foreign currency in the foreign exchange market at or before
the time such series of options is first opened for trading on the
Exchange. The Exchange notes that this is the same as the procedure for
opening initial months and series and fixing expiration terms of equity
options and index options on the Exchange.\21\
---------------------------------------------------------------------------

    \20\ The Exchange notes that it currently intends to open two
quarterly and two additional near-term months. See Notice, supra
note 3, 77 FR at 5076.
    \21\ See id.
---------------------------------------------------------------------------

    Regarding additional series of options, proposed Rule 1002C states
that additional series of PHLX FOREX Options of the same class may be
opened for trading on the Exchange when the Exchange deems it necessary
to maintain an orderly market, to meet customer demand or when the
market price of the underlying stock moves more than five strike prices
from the initial exercise price or prices.\22\ Regarding long-term
options, the proposed rule provides that with respect to any class of
PHLX FOREX Options series the Exchange may list options having up to
thirty-nine months from the time they are listed until expiration (with
up to six additional expiration months).\23\ Strike price interval,
bid/ask differential and continuity rules will not apply to such
options series until the time to expiration is less than nine
months.\24\ In addition, the Exchange is proposing to allow PHLX FOREX
Options to be eligible for FLEX trading. \25\
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    \22\ Proposed subsection (a)(ii) to Exchange Rule 1002C states
further: The opening of a new series of options shall not affect the
series of options of the same class previously opened. New series of
options on an individual stock may be added until the beginning of
the month in which the options contract will expire. Due to unusual
market conditions, the Exchange, in its discretion, may add a new
series of PHLX FOREX Options until five (5) business days prior to
expiration.
    \23\ See Proposed Exchange Rule 1002C(a)(iii).
    \24\ See id.
    \25\ Specifically, proposed Exchange Rule 1007C provides that
the FLEX procedures set forth in Rule 1079 in respect of FCOs will
also be applicable to PHLX FOREX Options. Rule 1079 deals with the
process of listing and trading FLEX equity, index, and FCOs on the
Exchange. The rule states that FLEX options are available for FCOs
and discusses, among other things: opening FLEX options trading
through the Request-for-Quote (``RFQ'') process; quotes responsive
to RFQs; trading parameters and procedures; and position and
exercise limits for FLEX options.
---------------------------------------------------------------------------

Strike Prices

    Pursuant to proposed Rule 1002C, the Exchange could initially list
exercise strike prices for a PHLX FOREX Option within a 40% band around
the current spot market price for the underlying currency, with such
options listed at $.0050 intervals. As the spot market moves, the
Exchange may list new strike prices that, at the time of listing, do
not exceed the spot market by more than 20 percent and are not less
than the spot market by more than 20 percent (i.e., within the 40%
band).\26\
---------------------------------------------------------------------------

    \26\ For example, if at the time of initial listing, the spot
market of the Euro is at $1.000 the strike prices the Exchange would
list for the PHLX FOREX Option will be $.800 to $1.20 in $.0050
intervals. If the spot market then moves to $1.3050, the Exchange
may list additional strikes at the following prices in $.0050
intervals: $1.045 to $1.565.
---------------------------------------------------------------------------

Bids and Offers and Minimum Trading Increments

    The quote spread parameters (or bid/ask differentials) with respect
to PHLX FOREX Options are found in subsection (a) of Rule 1003C, which
is applicable to PHLX FOREX Options specialists and Registered Options
Traders (``ROTs''). In subsection (a), the Exchange proposes to use the
spot market price convention but move the decimal point two places to
the right so that a bid and/or offer differential of $.0025 would be
``expressed as'' $.25 for trading purposes.\27\ Regarding electronic
quotations, the Exchange proposes to state in subsection (b) to Rule
1003C that PHLX FOREX Options may be quoted electronically with a
difference not to exceed $.0500 (expressed as $5.00) between the bid
and offer regardless of the price of the bid.\28\ The Exchange believes
that because such proposed ``expressed as'' price demarcations are
similar to how prices are now expressed for equity options, it would be
easier for PHLX FOREX Options participants to use the expressed as
pricing for trading purposes.\29\
---------------------------------------------------------------------------

    \27\ Proposed subsection (a) to Exchange Rule 1003C states in
full: with respect to all PHLX FOREX Options, bidding and/or
offering so as to create differences of no more than $.0025
(expressed as $.25) between the bid and the offer for each option
contract for which the prevailing bid is less than $.0200 (expressed
as $2.00); no more than $.0040 (expressed as $.40) where the
prevailing bid is $.0200 (expressed as $2.00) or more but less than
$.0500 (expressed as $5.00); no more than $.0050 (expressed as $.50)
where the prevailing bid is $.0500 (expressed as $5.00) or more but
less than $.1000 (expressed as $10.00); no more than $.0080
(expressed as $.80) where the prevailing bid is $.1000 (expressed as
$10.00) or more but less than $.2000 (expressed as $20.00); and no
more than $.0100 (expressed as $1.00) where the prevailing bid is
$.2000 (expressed as $20.00).
    \28\ Proposed subsection (b) to Exchange Rule 1003C states
further: the bid/ask differentials set forth in this subparagraph
(b) only applies to electronic quotations and only following the
opening rotation in each security (i.e., the bid/ask differentials
specified in sub-paragraph (a) above shall apply during opening
rotation). Quotations provided in open outcry may not be made with
bid/ask differentials set forth in this subparagraph (b) and instead
must comply with the legal bid/ask differential requirements
described in sub-paragraph (a) above and not in this sub-paragraph
(b).
    \29\ See Notice, supra note 3, at 5076. As an example, the
Exchange states that it would be unwieldy for a trader in a crowd to
have to announce that he is improving a price by .0010 (one tenth of
a penny). The ``expressed as'' price would allow the trader to
announce that he is improving the price by ten cents or a dime. See
id. at n.32.
---------------------------------------------------------------------------

    Proposed Rule 1004C regarding bids and offers of PHLX FOREX Options
states that except as provided in paragraph (b) and (c) of that Rule
(contract adjustments and spread type priority), all bids or offers
made on the Exchange floor for PHLX FOREX Option contracts shall be
expressed in terms of U.S. dollars per unit of the underlying foreign
currency. The example given in the rule is that a bid of ``.0325''
(which would be expressed as ``$3.25'') for a premium on a $1.70 strike
price option on the British pound would represent a bid to pay $325 per
option contract.
    The minimum trading increment for PHLX FOREX Options is set forth
in proposed Rule 1005C. For the six currencies that the Exchange
proposes to list, the minimum increment would be $.0001, expressed as
$.01. Subsection (b) adds that different, higher, minimum increments
may be fixed by the Exchange for option contracts of a particular
series of PHLX FOREX Options, which information would be posted on the
Exchange's Web site.

Position and Exercise Limits

    Proposed Rule 1008C establishes that the new PHLX FOREX Options on
the British pound, the Swiss franc, the Canadian dollar, the Australian
dollar, the New Zealand dollar, and the Euro, will each have a position
limit of 1,200,000 contracts. The proposed rule also establishes that
if a PHLX FOREX Option and an FCO are listed on the same underlying
currency (e.g., a Euro PHLX FOREX Option and a Euro FCO), then the
positions in each option on the same underlying currency will be
aggregated for purposes of determining compliance with the applicable
position limit.\30\ Proposed Rule 1009C establishes that the exercise
limits for options on PHLX FOREX Options will be equivalent to the
position limits prescribed in Rule 1008C.
---------------------------------------------------------------------------

    \30\ See also proposed change to Exchange Rule 1001 Commentary
.05 (c)(iv) (describing the aggregation provision for purposes of
determining compliance with position limits for FCO options).
---------------------------------------------------------------------------

Closing Settlement Value

    PHLX FOREX Options will use a closing settlement value methodology
that is identical to what is currently being used for FCOs with one
distinction--calculating settlement value for PHLX FOREX Options will
use

the spot market price, whereas FCOs currently use the modified Exchange
Spot Price. Accordingly, proposed Rule 1006C provides that the closing
settlement value for PHLX FOREX Options and for FLEX PHLX FOREX Options
shall be the spot market price at 12:00:00 Eastern Time (noon) on the
last trading day prior to expiration unless the Exchange determines to
apply an alternative closing settlement value as a result of
extraordinary circumstances.\31\ The rule states that, like with FCOs,
PHLX FOREX Options will be settled in U.S. dollars per unit of
underlying currency, and the Exchange will disseminate the closing
settlement value through one or more major market data vendors. The
rule also indicates that the disclaimer of liability that is applicable
to FCOs is likewise applicable to PHLX FOREX Options. In addition, the
Exchange states that it will disseminate PHLX FOREX Option closing
settlement values on its Web site.\32\
---------------------------------------------------------------------------

    \31\ Similar to FCOs, the expiration date for PHLX FOREX Options
would be the Saturday following the third Friday of the expiration
month, and the last trading day would be the third Friday of the
expiration month.
    \32\ See Notice, supra note 3, 77 FR at 5078.
---------------------------------------------------------------------------

Systems Capacity and Surveillance

    The Exchange represents in its filing that it has the necessary
systems capacity to support new options series that will result from
the introduction of PHLX FOREX Options on the Exchange.\33\ The
Exchange also represents that it has an adequate surveillance program
in place for trading PHLX FOREX Options, and noted that it will apply
the same surveillance program to PHLX FOREX Options that it uses for
FCOs.\34\
---------------------------------------------------------------------------

    \33\ See id.
    \34\ See id.
---------------------------------------------------------------------------

III. Discussion and Commission's Findings

    After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of Section 6 of the Act \35\
and the rules and regulations thereunder applicable to a national
securities exchange.\36\ In particular, the Commission finds that the
proposed rule change is consistent with Section 6(b)(5) of the Act,\37\
which requires, among other things, that the Exchange's rules be
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in facilitating transactions in
securities, 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.
---------------------------------------------------------------------------

    \35\ 15 U.S.C. 78f.
    \36\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
    \37\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    As discussed above, the proposed PHLX FOREX Options are similar to
Phlx's existing FCO options, which the Commission approved in 2007.\38\
In the areas where the two products and the corresponding rules are
identical, the Commission continues to believe that such provisions are
consistent with the Act. The contract specifications that are unique to
the proposed PHLX FOREX Options are discussed below.
---------------------------------------------------------------------------

    \38\ See Securities Exchange Act Release No. 54989 (December 21,
2006), 71 FR 78506 (December 29, 2006) (SR-Phlx-2006-34) (FCO
Approval Order).
---------------------------------------------------------------------------

    The Commission believes that any potential concerns regarding
investor confusion between the two products should be mitigated by the
Exchange's undertaking to engage in an educational outreach effort to
inform potential traders about the differences between the new PHLX
FOREX Options and the existing FCO products.\39\ Further, PHLX FOREX
Options will have their own ticker symbols and the applicable
settlement values will be disseminated with unique symbols to
differentiate these products from FCO options based on the same
underlying currency.
---------------------------------------------------------------------------

    \39\ See Notice, supra note 3, 77 FR at 5075.
---------------------------------------------------------------------------

A. Settlement Value and Dissemination of Information

    The Commission notes that the primary difference between current
FCOs and proposed PHLX FOREX Options is that the pricing convention of
PHLX FOREX Options will be based on the spot market prices for the
underlying currencies. As noted above, to calculate settlement values,
the Exchange will use the spot market prices that it receives from SIX
Telekurs or another data vendor at 12 Eastern Time on the last trading
day prior to expiration, but will not apply any multiplier as it does
for FCOs. The Commission believes that the proposed closing settlement
value methodology for PHLX FOREX Options is substantially similar to
the methodology used for FCOs, despite the absence of a modifier for
the former, and therefore it does not raise any new regulatory issues.
    Further, the Commission believes that sufficient venues exist for
obtaining reliable information on the underlying currencies so that
investors in PHLX FOREX Options can monitor the underlying spot market
in the underlying currencies.\40\ The Commission also believes that the
Phlx's procedures and the competitive nature of the spot market for the
currencies should help to ensure that the settlement values for PHLX
FOREX Options will accurately reflect the spot price for foreign
currencies. Finally, the closing settlement value will be publicly
disseminated by Phlx. Accordingly, the proposed rules are designed to
prevent fraudulent and manipulative acts and practices, to promote just
and equitable principles of trade, and to protect investors and the
public interest.
---------------------------------------------------------------------------

    \40\ The Commission notes that the Exchange stated in the Notice
that, in addition to spot market prices provided by SIX Telekurs,
spot market prices are available from other sources such as
Bloomberg, Reuters, and Thompson and available from free sources
such as http://finance.yahoo.com/. See Notice, supra note 3, 77 FR
at 5075.
---------------------------------------------------------------------------

B. Surveillance

    The Commission notes that the Phlx will integrate PHLX FOREX
Options into existing Phlx market surveillance market programs for
FCOs. Phlx has represented that it has an adequate surveillance program
in place for the trading of FCOs and believes that such program will be
adequate for the surveillance of PHLX FOREX Options.\41\ In addition,
Phlx will have the ability to obtain trading information via the
Intermarket Surveillance Group (``ISG'') from other exchanges who are
members or affiliates of the ISG.\42\ Accordingly, the Commission
believes that Phlx has access to the tools necessary to adequately
surveil trading in these options.
---------------------------------------------------------------------------

    \41\ See Notice, supra note 3, 77 FR at 5078.
    \42\ The Exchange is a member of the ISG under the Intermarket
Surveillance Group Agreement, which was modernized in 2008, and may
obtain trading information via the ISG from other exchanges who are
members or affiliates of the ISG. The members of the ISG include all
of the U.S. registered stock and options markets. The ISG members
work together to coordinate surveillance and investigative
information sharing in the stock and options markets. In addition,
the major futures exchanges are affiliated members of the ISG, which
allows for the sharing of surveillance information for potential
intermarket trading abuses. See id.
---------------------------------------------------------------------------

C. Position and Exercise Limits

    Phlx proposes a position limit of 1,200,000 contracts for PHLX
FOREX Options in the underlying currencies proposed in this filing,
namely the British pound, the Swiss franc, the Canadian dollar, the
Australian dollar, the New Zealand dollar, and the Euro. The Commission
notes that this position limit is consistent with the current position
limit for FCOs on Euros.\43\ The Commission further notes that the
Exchange has provided data evidencing

the liquidity of the markets for these six currencies. Specifically,
the Exchange has represented that the six major foreign currencies that
underlie PHLX FOREX Options are all within the top ten most traded
foreign currencies in the world, and represent a 72.9% share of the
daily market turnover (excluding U.S. dollars).\44\ Accordingly, the
Commission believes that the proposed position limits are consistent
with the Act.
---------------------------------------------------------------------------

    \43\ See Exchange Rules 1001 and 1002.
    \44\ See Notice, supra note 3, 77 FR at 5077.
---------------------------------------------------------------------------

    Further, PHLX FOREX Options contracts will be aggregated with FCO
contracts for position and exercise limit purposes. The Commission
believes that aggregation of PHLX FOREX Options contracts with FCOs on
the same underlying currency for purposes of position and exercise
limits is appropriate and designed to address concerns with the
potential for manipulation or disruptions of the markets for PHLX FOREX
Options contracts and FCOs.

D. Other Rules

    The Commission believes that the other rule changes proposed by the
Phlx to accommodate the trading of PHLX FOREX Options are consistent
with the Act. First, the Commission believes that the procedure for
opening initial months and series and setting expiration terms is
appropriate and consistent with the Exchange's rules for equity and
index options on the Exchange.\45\ Specifically, the Exchange will open
a minimum of one expiration month and series for each class of options
open for trading on the Exchange, and the exercise price will be fixed
at a price that is reasonably close to the current spot market price of
the underlying foreign currency at or before the time such series of
options is first opened for trading.
---------------------------------------------------------------------------

    \45\ See Exchange Rules 1012 and 1101A.
---------------------------------------------------------------------------

    Further, the Commission believes it is reasonable for the Phlx to
initially list exercise strike prices within a 40 percent band around
the current spot market price for an underlying currency for a PHLX
FOREX Option. The Commission also believes that it is consistent with
the Act for the Exchange to establish the proposed minimum trading
increments for PHLX FOREX Options. The Commission notes that the Phlx
has represented that it has the systems capacity to support the
additional quotations and messages that will result from listing
options on PHLX FOREX Options.

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\46\ that the proposed rule change (SR-Phlx-2012-11) be, and hereby
is, approved.
---------------------------------------------------------------------------

    \46\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\47\
---------------------------------------------------------------------------

    \47\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-6867 Filed 3-21-12; 8:45 am]
BILLING CODE 8011-01-P