[Federal Register Volume 84, Number 151 (Tuesday, August 6, 2019)]
[Notices]
[Pages 38306-38309]
[FR Doc No: 2019-16721]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86536; File No. SR-EMERALD-2019-27]

Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend
Exchange Rule 518, Complex Orders

July 31, 2019.
    Pursuant to the provisions of Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice
is hereby given that on July 18, 2019, MIAX Emerald, LLC (``MIAX
Emerald'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') a proposed rule change as described in
Items I and II below, which Items have been prepared by the Exchange.
The Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange is filing a proposal to amend Exchange Rule 518,
Complex Orders, to amend subsection (d)(7) and to make a minor non-
substantive change to correct a typographical error in subsection
(f)(1) of Interpretation and Policy .05.
    The text of the proposed rule change is available on the Exchange's
website at http://www.miaxoptions.com/rule-filings/emerald at MIAX
Emerald's principal office, and at the Commission's Public Reference
Room.

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

    In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.

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

1. Purpose
    The Exchange proposes to amend Exchange Rule 518, Complex Orders,
to amend subsection (d)(7), Allocation at the Conclusion of a Complex
Auction, to adopt a new parenthetical to existing rule text to state
that orders and quotes executed in a Complex Auction \3\ will be
allocated first in price priority based on their original limit price
(or protected price, as described in Interpretation and Policy .05., if
price protection is engaged).
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    \3\ See Exchange Rule 518(d).
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    Currently, subsection (d)(7) of the Rule provides that orders and
quotes executed in a Complex Auction will be allocated first in price
priority based on their original limit price, and thereafter as
follows, and the Rule lists six different scenarios which influence
allocation. The Exchange is proposing to adopt the parenthetical, ``or
protected price if price protection, as described in Interpretation and
Policy .05., is engaged'' after the term ``original limit price'' to
improve the fairness and consistency of allocations among participants
at the end of a Complex Auction.
    Under the proposal, allocations will continue to be calculated
based on original limit price, with the exception that if price
protection is engaged, allocation will then be based on the order's
protected price as opposed to the order's original limit price. The
following examples using the MPC Protection better illustrate this
scenario.\4\
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    \4\ The Exchange notes that the System provides a number of
price protections as described in Policy .05. of Interpretations and
Policies to this Rule. Price protections include a Vertical Spread
Variance price protection (.05.(a)); a Calendar Spread Variance
price protection (.05.(b)); an Implied Away Best Bid or Offer
(``ixABBO'') price protection. The ixABBO price protection feature
is a price protection mechanism under which, when in operation as
requested by the submitting Member, a buy order will not be executed
at a price that is higher than each other single exchange's best
displayed offer for the complex strategy, and under which a sell
order will not be executed at a price that is lower than each other
single exchange's best displayed bid for the complex strategy
(.05.(d)); and a Complex MIAX Emerald Price Collar (``MPC'') price
protection (.05.(f)).
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Example #1A
End of Complex Auction Allocation Using Current Allocation Methodology
icEBBO \5\/dcEBBO \6\ 1.75 x 2.00
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    \5\ Implied Complex MIAX Emerald Best Bid or offer (``icEBBO'').
The icEBBO is a calculation that uses the best price from the Simple
Order Book for each component of a complex strategy including
displayed and non-displayed trading interest. For stock-option
orders, the icEBBO for a complex strategy will be calculated using
the best price (whether displayed or non-displayed) on the Simple
Order Book in the individual option component(s), and the NBBO in
the stock component. See Exchange Rule 518(a)(12).
    \6\ Displayed Complex MIAX Emerald Best Bid or Offer
(``dcEBBO''). The dcEBBO is calculated using the best displayed
price for each component of a complex strategy from the Simple Order
Book. For stock-option orders, the dcEBBO for a complex strategy
will be calculated using the Exchange's best displayed bid or offer
in the individual option component(s) and the NBBO in the stock
component. See Exchange Rule 518(a)(8).
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cNBBO \7\ 1.85 x 1.95
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    \7\ The Complex National Best Bid or Offer (``cNBBO'') is
calculated using the NBBO for each component of a complex strategy
to establish the best net bid and offer for a complex strategy. See
Exchange Rule 100.
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MPC 0.05
MPC Protection:
cNBB \8\-MPC (1.85-0.05 = 1.80)
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    \8\ NBB means the National Best Bid.
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cNBO \9\ + MPC (1.95 + 0.05 = 2.00)
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    \9\ NBO means the National Best Offer.
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Complex Order 1 (CO1) Buy 10 @2.00 (Auction on Arrival) \10\
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    \10\ A ``Complex Auction-on-Arrival'' or ``cAOA'' order is a
complex order designated to be placed into a Complex Auction upon
receipt or upon evaluation. Complex orders that are not designated
as cAOA will, by default, not initiate a Complex Auction upon
arrival, but except as described herein will be eligible to
participate in a Complex Auction that is in progress when such
complex order arrives or if placed on the Strategy Book may
participate in or may initiate a Complex Auction, following
evaluation conducted by the System (as described in subparagraph (d)
below).[sic] See Exchange Rule 518(b)(2)(i).
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CO1 marked AOA initiates an auction upon receipt.

Market Maker (``MM'') \11\ Complex Order 2 (CO2) Sell 10 @1.80 (MPC =
1.80)
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    \11\ The term ``Market Makers'' refers to ``Lead Market
Makers'', ``Primary Lead Market Makers'' and ``Registered Market
Makers'' collectively. See Exchange Rule 100.
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MM Complex AOC eQuote \12\ 3 (CO3) Sell 10 @1.00 (MPC = 1.80)
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    \12\ A ``Complex Auction-or-Cancel eQuote'' or ``cAOC eQuote,''
which is an eQuote submitted by a Market Maker that is used to
provide liquidity during a specific Complex Auction with a time in
force that corresponds with the duration of the Complex Auction. A
cAOC eQuote with a size greater than the aggregate auctioned size
(as defined in Rule 518(d)(4)) will be capped for allocation
purposes at the aggregate auctioned size. See Exchange Rule
518.02(c)(1).

    Unrelated order CO2 and related response CO3 arrive during the
auction and join the auction in progress. The Auction concludes with no
further interest being received.
    Upon conclusion of the Auction CO2 and CO3 are subject to MPC
Protection and cannot trade more than 0.05 lower than the Away Best Bid
(1.85); meaning that these orders cannot trade lower than 1.80. With
allocation based upon the original limit price CO3 trades 10 with CO1
at 1.80 ahead of CO2 since CO3's original limit price (1.00) was more
aggressive than the original limit price of CO2 (1.80). CO2 does not
trade and leaves a balance of 10 to sell at 1.80.

cToM \13\ 1.75 x 1.80 (10)
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    \13\ cToM is the Exchange's Complex Top of Market data feed.

    Example 1B below illustrates the same scenario but with allocation
as proposed by the new rule language.
Example #1B
End of Complex Auction Allocation Using Proposed Allocation Methodology
(Price Protection Engaged)
icEBBO/dcEBBO 1.75 x 2.00
cNBBO 1.85 x 1.95
MPC 0.05
MPC Protection:
cNBB-MPC (1.85-0.05 = 1.80)
cNBO + MPC (1.95 + 0.05 = 2.00)
Complex Order 1 (CO1) Buy 10 @2.00 (Auction on Arrival)
CO1 marked AOA initiates an auction upon receipt.
MM Complex Order 2 (CO2) Sell 10 @1.80 (MPC = 1.80)
MM Complex AOC eQuote 3 (CO3) Sell 10 @1.00 (MPC = 1.80)

    Unrelated order CO2 and related response CO3 arrive during the
auction and join the auction in progress. The Auction concludes with no
further interest being received.
    Upon conclusion of the Auction CO2 and CO3 are subject to MPC
Protection and cannot trade more than 0.05 lower than the Away Best Bid
(1.85); meaning that these orders cannot trade lower than 1.80. With
allocation priority based on the protected price CO3 trades a pro-rata
share of 5 with CO1 at 1.80 based on its protected price. CO2 also
trades a pro-rata share of 5 with CO1 at 1.80 based on its protected
price. CO1 is filled, CO2 and CO3 each leave a balance of 5, booked at
their protected price of 1.80.

cToM 1.75 x 1.80 (10)

    The Exchange believes that using the protected price is more
meaningful than using an order's original limit price in the context of
determining trade allocation priority as orders cannot be executed at
prices that would violate their protected price. Additionally, changing
the allocation priority in this fashion would align allocations for
orders with the same protected price, when price protection is engaged,
with allocations for orders with the same original limit price, when
price protection is not engaged, which can be seen in the examples
below.
Example #2A
End of Complex Auction Allocation Using Current Allocation Methodology
icEBBO/dcEBBO 1.75 x 2.00
cNBBO 1.85 x 1.95
MPC 0.05
MPC Protection:
cNBB-MPC (1.85-0.05 = 1.80)
cNBO + MPC (1.95 + 0.05 = 2.00)
Complex Order 1 (CO1) Buy 10 @2.00 (Auction on Arrival)
CO1 marked AOA initiates an auction upon receipt.
Market Maker (``MM'') Complex Order 2 (CO2) Sell 10 @1.90 (MPC = 1.80)
MM Complex AOC eQuote 3 (CO3) Sell 10 @1.90 (MPC = 1.80)

    Unrelated order CO2 and related response CO3 arrive during the
auction and joins the auction in progress. The Auction concludes with
no further interest being received.
    Upon conclusion of the Auction CO2 and CO3 when subject to MPC
Protection cannot trade more than 0.05 lower than the Away Best Bid
(1.85); meaning that these orders cannot trade lower than 1.80. However
since the limit price of CO2 and CO3 is not through the MPC Protected
Price, price protection is not engaged and the trade is based on the
best limit price among CO2 and CO3. With allocation based upon the
original limit price; CO3 trades a pro-rata share of 5 with CO1 at 1.90
based on its original price. CO2 also trades a pro-rata share of 5 with
CO1 at 1.90 based on its original price. CO1 is filled, CO2 and CO3
each leave a balance of 5, booked at their limit price.
    Example 2B below illustrates the same scenario but with allocation
as proposed by the new rule language.
Example #2B
End of Complex Auction Allocation Using Proposed Allocation Methodology
(Price Protection Not Engaged)
icMBBO/dcMBBO 1.75 x 2.00
cNBBO 1.85 x 1.95
MPC 0.05
MPC Protection = cNBB-MPC (1.85-0.05 = 1.80)
Complex Order 1 (CO1) Buy 10 @2.00 (Auction on Arrival)
CO1 marked AOA initiates an auction upon receipt.
Market Maker (``MM'') Complex Order 2 (CO2) Sell 10 @1.90 (MPC = 1.80)
MM Complex AOC eQuote 3 (CO3) Sell 10 @1.90 (MPC = 1.80)

    Unrelated order CO2 and related response CO3 arrive during the
auction and joins the auction in progress. The Auction concludes with
no further interest being received.
    Upon conclusion of the Auction CO2 and CO3 when subject to MPC
Protection cannot trade more than 0.05 lower than the Away Best Bid
(1.85); meaning that these orders cannot trade lower than 1.80. However
since the limit price of CO2 and CO3 is not through the MPC Protected
Price, price protection is not engaged and the trade is based on the
best limit price among CO2 and CO3. With allocation based upon the
original limit price; CO3 trades a pro-rata share of 5 with CO1 at 1.90
based on its original price. CO2 also trades a pro-rata share of 5 with
CO1 at 1.90 based on its original price. CO1 is filled, CO2 and CO3
each leave a balance of 5, booked at their limit price.
    There is no difference in the allocation results under the proposed
allocation algorithm or the current allocation algorithm for orders
with identical original limit prices when price protection is not
engaged. Additionally, as demonstrated in Example 3A and 3B below,
there is no difference in the allocation results under the proposed
allocation algorithm or the current allocation algorithm for orders
with differing original limit prices when price protection is not
engaged.
Example #3A
End of Complex Auction Allocation Using Current Allocation Methodology
icEBBO/dcEBBO 1.75 x 2.00
cNBBO 1.85 x 1.95
MPC 0.05
MPC Protection:
cNBB-MPC (1.85-0.05 = 1.80)
cNBO + MPC (1.95 + 0.05 = 2.00)

Complex Order 1 (CO1) Buy 10 @2.00 (Auction on Arrival)
CO1 marked AOA initiates an auction upon receipt.
Market Maker (``MM'') Complex Order 2 (CO2) Sell 10 @1.95 (MPC = 1.80)
MM Complex AOC eQuote 3 (CO3) Sell 10 @1.85 (MPC = 1.80)

    Unrelated order CO2 and related response CO3 arrive during the
auction and join the auction in progress. The Auction concludes with no
further interest being received.
    Upon conclusion of the Auction CO2 and CO3 when subject to MPC
Protection cannot trade more than 0.05 lower than the Away Best Bid
(1.85); meaning that these orders cannot trade lower than 1.80. However
since the limit price of CO2 and CO3 is not through the MPC Protected
Price, price protection is not engaged. With allocation based upon the
original limit price; CO3 trades 10 with CO1 at 1.90 ahead of CO2 since
its original limit price (1.85) was more aggressive than the original
limit price of CO2 (1.95). CO2 does not trade and leaves a balance of
10 to sell at 1.95.
Example #3B
End of Complex Auction Allocation Using Proposed Allocation Methodology
(Price Protection Not Engaged)
icMBBO/dcMBBO 1.75 x 2.00
cNBBO 1.85 x 1.95
MPC 0.05
MPC Protection = cNBB-MPC (1.85-0.05 = 1.80)
Complex Order 1 (CO1) Buy 10 @2.00 (Auction on Arrival)
CO1 marked AOA initiates an auction upon receipt.
Market Maker (``MM'') Complex Order 2 (CO2) Sell 10 @1.95 (MPC = 1.80)
MM Complex AOC eQuote 3 (CO3) Sell 10 @1.85 (MPC = 1.80)

    Unrelated order CO2 and related response CO3 arrive during the
auction and joins the auction in progress. The Auction concludes with
no further interest being received.
    Upon conclusion of the Auction CO2 and CO3 when subject to MPC
Protection cannot trade more than 0.05 lower than the Away Best Bid;
meaning that these orders cannot trade lower than 1.80. However since
the limit price of CO2 and CO3 is not through the MPC Protected Price,
price protection is not engaged. Allocation remains based upon original
limit price as price protection is not engaged. CO3 trades 10 with CO1
at 1.90 ahead of CO2 since its original limit price (1.85) was more
aggressive than the original limit price of CO2 (1.95). CO2 does not
trade and leaves a balance of 10 to sell at 1.95.
    As illustrated by the examples above, there is no difference in
allocations under the proposal when orders have the same, or different,
original limit prices when price protection is not engaged (Examples 2
and 3 respectively). Under the current rule there is a difference in
allocation when orders have the same protected price but different
original limit prices, as illustrated in Example 1. Under the
Exchange's proposal, using the order's protected price, when price
protection is engaged, to determine allocation, will provide the same
allocation result as when orders have the same original limit price,
but when price protection is not engaged (as demonstrated in Example
2). The Exchange believes that allocating interest at the conclusion of
a Complex Auction based upon an order's protected price, when price
protection is engaged, as opposed to its original limit price, provides
a consistent allocation methodology when orders have the same price
(either original limit price when price protection is not engaged, or
protected price when price protection is engaged).
    Additionally, the Exchange proposes to amend section (f) of
Interpretation and Policy .05 to add an opening quotation to the term
eQuotes in subsection (1), which states, [a]ll complex orders on the
Exchange, together with cAOC eQuotes and cIOC eQuotes \14\ (as defined
in Interpretations and Policies: 02.(c)(1) and (2) of this Rule)
(collectively, ``eQuotes''), are subject to the MPC Price Protection
feature. This is non-substantive change to make a typographical
correction to the rule text.
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    \14\ A ``Complex Immediate-or-Cancel eQuote'' or ``cIOC
eQuote,'' which is a complex eQuote with a time-in-force of IOC that
may be matched with another complex quote or complex order for an
execution to occur in whole or in part upon receipt into the System.
cIOC eQuotes will not: (i) Be executed against individual orders and
quotes resting on the Simple Order Book; (ii) be eligible to
initiate a Complex Auction or join a Complex Auction in progress;
(iii) rest on the Strategy Book; or (iv) be displayed. Any portion
of a cIOC eQuote that is not executed will be immediately cancelled.
See Exchange Rule 518.02(c)(2).
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2. Statutory Basis
    MIAX Emerald believes that its proposed rule change is consistent
with Section 6(b) of the Act \15\ in general, and furthers the
objectives of Section 6(b)(5) of the Act \16\ in particular, in that it
is designed to prevent fraudulent and manipulative acts and practices,
to promote just and equitable principles of trade, to foster
cooperation and coordination with persons engaged in facilitating
transactions in securities, to remove impediments to and perfect the
mechanisms of a free and open market and a national market system and,
in general, to protect investors and the public interest.
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    \15\ 15 U.S.C. 78f(b).
    \16\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes that determining priority for allocating
interest at the conclusion of a Complex Auction based on an order's
protected price, when price protection is engaged, removes impediments
to and perfects the mechanisms of a free and open market and a national
market system and, in general, protects investors and the public
interest by providing a consistent allocation methodology. Basing trade
allocation priority on an order's protected price provides for a more
equitable allocation of interest at the conclusion of a Complex Auction
versus using an order's original limit price to determine allocation
priority. An order's original limit price is not relevant for
determining allocation as the order cannot trade through its protected
price. Therefore, the Exchange believes that when price protection is
engaged, using the protected price as the basis for allocation priority
at the conclusion of a Complex Auction is more appropriate.
    As demonstrated in Example 1A, under the current rule an order with
a limit price that is through its protected price supersedes an order
with a limit price equal to its protected price. In Example 1A, the
trade price is equal to the protected price, however the order with a
more aggressive original limit price receives the first allocation. In
Example 1A, the order's $1.00 original limit price to sell is illusory
in the sense that the order can never be executed below its protected
price of $1.80 due to price protection being engaged. With two orders
that can be executed at $1.80 the Exchange believes that basing
allocation on the protected price promotes just and equitable
principles of trade, as both orders receive an allocation. This aligns
to the allocation that results when two orders can be executed at their
original limit price without price protection being engaged, and
provides consistency in the allocation process used on the Exchange,
and prevents unfair allocations from occurring, which promotes just and
equitable principles of trade.
    The Exchange believes its proposal to make a non-substantive change
to correct a typographical error protects investors and the public
interest by providing accuracy in the Exchange's rules. Clarity and
precision in the Exchange's rules helps avoid the

potential for confusion which benefits investors and the public.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act.
    The Exchange's proposal will not impose any burden on inter-market
competition as the proposal will only affect trade allocations
performed at the conclusion of a Complex Auction on the Exchange, when
price protection is engaged.
    The Exchange does not believe the proposed rule change will impose
any burden on intra-market competition as the rules of the Exchange are
applicable to all Members \17\ equally, and will equally impact those
Members who participate in Complex Auctions.
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    \17\ The term ``Member'' means an individual or organization
approved to exercise the trading rights associated with a Trading
Permit. Members are deemed ``members'' under the Exchange Act. See
Exchange Rule 100.
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C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    Written comments were neither solicited nor received.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \18\ and Rule 19b-
4(f)(6) thereunder.\19\
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    \18\ 15 U.S.C. 78s(b)(3)(A).
    \19\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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    A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \20\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \21\ permits the
Commission to designate a shorter time if such action is consistent
with the protection of investors and the public interest. The Exchange
has requested that the Commission waive the 30-day operative delay so
that the proposed rule change may become operative upon filing. As
discussed above, the Exchange believes that using an order's protected
price when price protection is engaged, rather than an order's original
limit price, is appropriate for determining allocation priority at the
conclusion of a Complex Auction because an order cannot be executed at
a price that would violate its protected price. Thus, an order's
original limit price is not relevant for determining allocation
priority when price protection is engaged, and the Exchange believes
that using an order's protected price to determine auction allocations
when price protection is engaged will prevent unfair Complex Auction
allocations. The Commission believes that determining Complex Auction
allocations based on an order's protected price when price protection
is engaged, rather than on the order's original limit price, is
appropriate because an order will never execute at a price that
violates its protected price. The Commission believes that using an
order's protected price when price protection is engaged will help to
assure that orders are allocated fairly at the conclusion of a Complex
Auction. Therefore, the Commission believes that waiver of the 30-day
operative delay is consistent with the protection of investors and the
public interest. Accordingly, the Commission hereby waives the
operative delay and designates the proposed rule change operative upon
filing.\22\
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    \20\ 17 CFR 240.19b-4(f)(6).
    \21\ 17 CFR 240.19b-4(f)(6)(iii).
    \22\ For purposes only of waiving the 30-day operative delay,
the Commission also has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-EMERALD-2019-27 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-EMERALD-2019-27. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-EMERALD-2019-27, and should be submitted
on or before August 27, 2019.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\23\
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    \23\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-16721 Filed 8-5-19; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register: August 24, 2009 (Volume 74, Number 162)]
[Notices]
[Page 42670]
[DOCID:fr24au09-61]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 1494-348-OK]

Grand River Dam Authority; Notice of Availability of
Environmental Assessment

August 14, 2009.

    In accordance with the National Environmental Policy Act of 1969
and the Federal Energy Regulatory Commission's regulations, 18 CFR part
380 (Order No. 486, 52 FR 47879), the Office of Energy Projects has
reviewed Grand River Dam Authority's proposed shoreline management plan
(SMP) for the Pensacola Hydroelectric Project, located on the Grand
River in Craig, Delaware, Mayes, and Ottawa Counties, Oklahoma, and has
prepared an environmental assessment (EA) on the SMP.
    A copy of the EA is on file with the Commission and is available
for public inspection. The EA may also be viewed on the Commission's
Web site at http://www.ferc.gov using the ``eLibrary'' link. Enter the
docket number (P-1494) excluding the last three digits in the docket
number field to access the document. For assistance, contact FERC
Online Support at<EMAIL_ADDRESS>or toll-free at 1-866-208-
3676, or for TTY,<PHONE_NUMBER>.
    Any comments on the EA should be filed by September 14, 2009, and
should be addressed to the Secretary, Federal Energy Regulatory
Commission, 888 First Street, NE., Room 1-A, Washington, DC 20426.
Please reference the project name and project number (P-1494-348) on
all comments. Comments may be filed electronically via the Internet in
lieu of paper. The Commission strongly encourages electronic filings.
See 18 CFR 385.2001(a)(1)(iii) and the instructions on the Commission's
Web site under the ``eFiling'' link. For further information, contact
Brian Romanek at<PHONE_NUMBER>.

Kimberly D. Bose,
Secretary.
[FR Doc. E9-20235 Filed 8-21-09; 8:45 am]

BILLING CODE 6717-01-P


John Silvasi/RTP/USEPA/US
01/22/2009 08:16 AM	To
<EMAIL_ADDRESS>	cc
	Kimber Scavo/RTP/USEPA/US@EPA, Denise Gerth/RTP/USEPA/US@EPA
	bcc

	Subject
	Re:  your email on . . .Connecting other provisions which refer to
51.902(b) and subpart 1 classifications

Hi, Doug,

Denise also forward this to me.  Similar to your prior email to Denise, I
believe it would be proper to treat this as a comment that we will place
in the docket and to which we'll respond when we take final rulemaking
action.

John J. Silvasi
Environmental Engineer
State and Local Programs Group (C539-02)
Office of Air Quality Planning and Standards
U.S. Environmental Protection Agency
Research Triangle Park, NC 27711
919-541-5666 (v);<PHONE_NUMBER> (fax)
<EMAIL_ADDRESS>
"It is EPA’s goal to protect the environment for everyone.  You can help
by reporting potential environmental violations.  To do so, visit EPA’s
website at http://www.epa.gov/compliance/complaints/index.html "

<EMAIL_ADDRESS>01/20/2009 03:31 PM
	To
	Denise Gerth/RTP/USEPA/US@EPA
	cc

	Subject
	Connecting other provisions which refer to 51.902(b) and subpart 1
classifications

Denise:

51.908(b) and 51.910(b) & 51.912(c) and the "subject to 51.902(b) parts of
51.915  seem extraneous IF subpart 1 classification disappears in 51.902
(b)....Will you plan to remove these?

How does 51.904 work in the absence of 51.902(b)?

Doug Deason
Environmental Advisor
Downstream and Chemical SH&E
ExxonMobil Refining & Supply Company
13501 Katy Freeway,
CORP-EMCC-L1-266
Office Phone:<PHONE_NUMBER>
Cell phone (mobile):<PHONE_NUMBER>
E-Mail<EMAIL_ADDRESS>Fax:<PHONE_NUMBER>


[Federal Register Volume 87, Number 233 (Tuesday, December 6, 2022)]
[Notices]
[Page 74609]
[FR Doc No: 2022-26478]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

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

    Docket Numbers: ER22-2898-001.
    Applicants: Huck Finn Solar, LLC.
    Description: Tariff Amendment: Response to Request for Additional
Information of Huck Finn Solar to be effective 11/21/2022.
    Filed Date: 11/30/22.
    Accession Number: 20221130-5187.
    Comment Date: 5 p.m. ET 12/21/22.

    Docket Numbers: ER23-272-000.
    Applicants: Avangrid Renewables, LLC.
    Description: Refund Report: Refund Report to be effective N/A.
    Filed Date: 11/30/22.
    Accession Number: 20221130-5102.
    Comment Date: 5 p.m. ET 12/21/22.

    Docket Numbers: ER23-509-000.
    Applicants: El Paso Electric Company.
    Description: Sec.  205(d) Rate Filing: Service Agreement No. 367,
EPE and Solar PV Development to be effective 1/28/2023.
    Filed Date: 11/29/22.
    Accession Number: 20221129-5205.
    Comment Date: 5 p.m. ET 12/20/22.

    Docket Numbers: ER23-510-000
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Sec.  205(d) Rate Filing: 2022-11-30_SA 3740 Entergy
Louisiana-Willis Pond 1st Rev GIA (J1421) to be effective 1/30/2023.
    Filed Date: 11/30/22.
    Accession Number: 20221130-5039.
    Comment Date: 5 p.m. ET 12/21/22.

    Docket Numbers: ER23-511-000.
    Applicants: American Electric Power Service Corporation, Southwest
Power Pool, Inc.
    Description: Sec.  205(d) Rate Filing: American Electric Power
Service Corporation submits tariff filing per 35.13(a)(2)(iii: AEP West
Transcos and AEP West Operating Cos Formula Rate Revisions to be
effective 2/1/2023.
    Filed Date: 11/30/22.
    Accession Number: 20221130-5107.
    Comment Date: 5 p.m. ET 12/21/22.

    Docket Numbers: ER23-512-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Amendment to ISA, Service
Agreement No. 6007; Queue No. AD2-115 to be effective 3/15/2021.
    Filed Date: 11/30/22.
    Accession Number: 20221130-5118.
    Comment Date: 5 p.m. ET 12/21/22.

    Docket Numbers: ER23-513-000.
    Applicants: Midcontinent Independent System Operator, Inc., Great
River Energy.
    Description: Sec.  205(d) Rate Filing: Midcontinent Independent
System Operator, Inc. submits tariff filing per 35.13(a)(2)(iii: 2022-
11-30_GRE Revisions to Formula Rates and Transmission Rate Incentives
to be effective 2/1/2023.
    Filed Date: 11/30/22.
    Accession Number: 20221130-5126.
    Comment Date: 5 p.m. ET 12/21/22.

    Docket Numbers: ER23-514-000.
    Applicants: Alabama Power Company, Georgia Power Company,
Mississippi Power Company.
    Description: Tariff Amendment: Alabama Power Company submits tariff
filing per 35.15: FP&L NITSA Termination Filing to be effective 10/31/
2022.
    Filed Date: 11/30/22.
    Accession Number: 20221130-5152.
    Comment Date: 5 p.m. ET 12/21/22.

    Docket Numbers: ER23-515-000.
    Applicants: Alabama Power Company, Georgia Power Company,
Mississippi Power Company.
    Description: Sec.  205(d) Rate Filing: Alabama Power Company
submits tariff filing per 35.13(a)(2)(iii: Wadley Solar LGIA Amendment
Filing to be effective 11/28/2022.
    Filed Date: 11/30/22.
    Accession Number: 20221130-5160.
    Comment Date: 5 p.m. ET 12/21/22.

    Docket Numbers: ER23-516-000.
    Applicants: Frederickson Power L.P.
    Description: Sec.  205(d) Rate Filing: Tariff Revision Category 1
(11.30.22) to be effective 12/1/2022.
    Filed Date: 11/30/22.
    Accession Number: 20221130-5181.
    Comment Date: 5 p.m. ET 12/21/22.

    Docket Numbers: ER23-517-000.
    Applicants: ISO New England Inc., New England Power Pool
Participants Committee.
    Description: Sec.  205(d) Rate Filing: ISO New England Inc. submits
tariff filing per 35.13(a)(2)(iii: ISO-NE/NEPOOL; Revisions to
Incorporate Solar Resources into DNE Dispatch Rules to be effective 12/
5/2023.
    Filed Date: 11/30/22.
    Accession Number: 20221130-5203.
    Comment Date: 5 p.m. ET 12/21/22.

    The filings are accessible in the Commission's eLibrary system
(https://elibrary.ferc.gov/idmws/search/fercgensearch.asp) by 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: November 30, 2022.
Kimberly D. Bose,
Secretary.
[FR Doc. 2022-26478 Filed 12-5-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 87, Number 135 (Friday, July 15, 2022)]
[Rules and Regulations]
[Pages 42321-42322]
[FR Doc No: 2022-14964]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 100

[Docket No. USCG-2022-0537]

Special Local Regulations; Seattle Seafair Unlimited Hydroplane
Race, Lake Washington, WA

AGENCY: Coast Guard, DHS.

ACTION: Notification of enforcement of regulation.

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

SUMMARY: The Coast Guard will enforce special local regulations for the
Seattle Seafair Unlimited Hydroplane Race on Thursday August 4, 2022,
from 10 a.m. to 4 p.m. and Friday and Saturday, August 5 and 6, 2022,
from 8 a.m. to 5 p.m. to provide for the safety of life on navigable
waterways during this event. Our regulation for marine events within
the Thirteenth Coast Guard District identifies the regulated area for
this event on Lake Washington, WA. During the enforcement periods, the
operator of any vessel in the regulated area must comply with
directions from the Patrol Commander or any Official Patrol displaying
a Coast Guard ensign.

DATES: The regulations in 33 CFR 100.1301 will be enforced Thursday,
August 4, 2022, from 10 a.m. to 4 p.m., and Friday and Saturday, August
5 and 6, 2022, from 8 a.m. to 5 p.m.

FOR FURTHER INFORMATION CONTACT: If you have questions about this
notification of enforcement, call or email Lieutenant Peter J.
McAndrew, Sector Puget Sound Waterways Management Division, Coast
Guard; telephone<PHONE_NUMBER>, email [email protected].

SUPPLEMENTARY INFORMATION: The Coast Guard will enforce special local
regulations in 33 CFR 100.1301 for the Seattle Seafair Unlimited
Hydroplane Race on Thursday August 4, 2022, from 10 a.m. to 4 p.m., and
Friday and Saturday, August 5 and 6, 2022, from 8 a.m. to 5 p.m. This
action is being taken to provide for the safety of life on navigable
waterways during this three-day event. Our regulation for marine events
within the Thirteenth Coast Guard District, Sec.  100.1301(b),
specifies the location of the regulated area for the Seattle Seafair
Unlimited Hydroplane Race which encompasses portions of Lake
Washington. During the enforcement periods, if you are the operator of
a vessel in the regulated area you must comply with directions from the
Patrol Commander or any Official Patrol displaying a Coast Guard
ensign.
    The regulated area has been divided into two zones. The zones are
separated by a line perpendicular from the I-90 Bridge to the northwest
corner of the East log boom and a line extending from the southeast
corner of the East log boom to the southeast corner of the hydroplane
race course and then to the northerly tip of Ohlers Island in Andrews
Bay. The western zone is designated Zone I, the eastern zone, Zone II.
(Refer to NOAA Chart 18447).
    The Coast Guard will maintain a patrol consisting of Coast Guard
vessels, assisted by Coast Guard Auxiliary vessels, in Zone II. The
Coast Guard patrol of this area is under the direction of the Coast
Guard Patrol Commander (the ``Patrol Commander''). The Patrol Commander
is empowered to control the movement of vessels on the race course and
in the adjoining waters during the periods this regulation is subject
to enforcement. The Patrol Commander may be assisted by other federal,
state and local law enforcement agencies.
    Only vessels authorized by the Patrol Commander may be allowed to
enter Zone I during the hours this regulation is subject to
enforcement. Vessels in the vicinity of Zone I shall maneuver and
anchor as directed by Coast Guard Officers or Petty Officers.
    During the times stated, the Coast Guard will enforce Sec.
100.1301(f) through (m) as follows:
    (1) Swimming, wading, or otherwise entering the water in Zone I by
any person is prohibited while hydroplane boats are on the race course.
At other times in Zone I, any person entering the water from the
shoreline shall remain west of the swim line, denoted by buoys, and any
person entering the water from the log boom shall remain within 10 feet
of the log boom.
    (2) Any person swimming or otherwise entering the water in Zone II
shall remain within 10 feet of a vessel.
    (3) Rafting to a log boom will be limited to groups of three
vessels.
    (4) Up to six vessels may raft together in Zone II if none of the
vessels are secured to a log boom.
    (5) Only vessels authorized by the Patrol Commander, other law
enforcement agencies or event sponsors shall be permitted to tow other
watercraft or inflatable devices.
    (6) Vessels proceeding in either Zone I or Zone II during the hours
this regulation is subject to enforcement shall do so only at speeds,
which will create minimum wake, seven miles per hour or less. This
maximum speed may be reduced at the discretion of the Patrol Commander.

    (7) Upon completion of the daily racing activities, all vessels
leaving either Zone I or Zone II shall proceed at speeds of seven miles
per hour or less. The maximum speed may be reduced at the discretion of
the Patrol Commander.
    (8) A succession of sharp, short signals by whistle or horn from
vessels patrolling the areas under the direction of the Patrol
Commander shall serve as signal to stop. Vessels signaled shall stop
and shall comply with the orders of the patrol vessel; failure to do so
may result in expulsion from the area, citation for failure to comply,
or both.
    The Captain of the Port may be assisted by other federal, state and
local law enforcement agencies in enforcing this regulation.
    If the Captain of the Port determines that the regulated area need
not be enforced for the full duration stated in this notice, he may use
a Broadcast Notice to Mariners to grant general permission to enter the
regulated area.
    In addition to this notification of enforcement in the Federal
Register, the Coast Guard plans to provide notification of this
enforcement period via the Local Notice to Mariners and marine
information broadcasts.

    Dated: July 7, 2022.
P.M. Hilbert,
Captain, U.S. Coast Guard, Captain of the Port, Puget Sound.
[FR Doc. 2022-14964 Filed 7-14-22; 8:45 am]
BILLING CODE 9110-04-P