[Federal Register Volume 87, Number 94 (Monday, May 16, 2022)]
[Notices]
[Page 29742]
[FR Doc No: 2022-10470]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 4784-106]

Topsham Hydro Partners Limited Partnership (L.P.); Notice of
Intent To Prepare an Environmental Assessment

    On August 31, 2020, Topsham Hydro Partners Limited Partnership
(L.P.) (Topsham Hydro) filed an application for a new license for the
12.3-megawatt Pejepscot Hydroelectric Project (Pejepscot Project; FERC
No. 4784) on the Androscoggin River in Sagadahoc, Cumberland, and
Androscoggin Counties in the village of Pejepscot and the town of
Topsham, Maine. The project does not affect federal lands.
    In accordance with the Commission's regulations, on April 19, 2021,
Commission staff issued a notice that the project was ready for
environmental analysis (REA Notice). Subsequently, Topsham Hydro filed
Settlement Agreements for Modified Prescriptions for Fishways executed
by and between the licensee and the U.S. Department of Commerce's
National Marine Fisheries Service and the U.S. Department of Interior's
U.S. Fish and Wildlife Service on February 18, 2022, and February 24,
2022, respectively. Comments on the settlement agreements were due on
March 26 and 30, 2022. Comments were filed on the settlement
agreements.
    Based on the information in the record, including our review of the
settlement agreements and comments on the settlement agreements, staff
does not anticipate that licensing the project would constitute a major
federal action significantly affecting the quality of the human
environment. Therefore, staff intends to prepare a draft and final
Environmental Assessment (EA) on the application to relicense the
Pejepscot Project.
    The EA will be issued and circulated for review by all interested
parties. All comments filed on the EA will be analyzed by staff and
considered in the Commission's final licensing decision.
    The application will be processed according to the following
schedule. Revisions to the schedule may be made as appropriate.

------------------------------------------------------------------------
                 Milestone                           Target date
------------------------------------------------------------------------
Commission issues draft EA................  June 2022.
Comments on draft EA due..................  July 2022.
Commission issues final EA................  November 2022 \1\
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\1\ The Council on Environmental Quality's (CEQ) regulations under 40
  CFR 1501.10(b)(1) require that EAs be completed within 1 year of the
  federal action agency's decision to prepare an EA. This notice
  establishes the Commission's intent to prepare a draft and final EA
  for the Pejepscot Hydroelectric Project. Therefore, in accordance with
  CEQ's regulations, the final EA must be issued within 1 year of the
  issuance date of this notice.

    Any questions regarding this notice may be directed to Ryan Hansen
at<PHONE_NUMBER> or at [email protected].

    Dated: May 10, 2022.
Kimberly D. Bose,
Secretary.
[FR Doc. 2022-10470 Filed 5-13-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 82, Number 34 (Wednesday, February 22, 2017)]
[Notices]
[Page 11352]
[FR Doc No: 2017-03414]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. TX17-2-000]

Tull Wind LLC; Notice of Filing

    Take notice that on February 15, 2017, pursuant to section 211 of
the Federal Power Act, 16 U.S.C. 824j, and Part 36 of the Federal
Energy Regulatory Commission's (Commission) Regulations, 18 CFR part
36, Tull Wind LLC submitted an application for an order directing the
provision of interconnection and transmission service.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed on or before the comment date. On or
before the comment date, it is not necessary to serve motions to
intervene or protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov. Persons unable to file electronically should submit an
original and 5 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the
``eLibrary'' link and is 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>.
    Comment Date: 5:00 p.m. Eastern time on March 8, 2017.

    Dated: February 15, 2017.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2017-03414 Filed 2-21-17; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 88, Number 161 (Tuesday, August 22, 2023)]
[Rules and Regulations]
[Pages 57006-57009]
[FR Doc No: 2023-18066]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[Docket Number USCG-2023-0380]
RIN 1625-AA00

Safety Zone; Hurricanes, Tropical Storms and other Disasters in
Southeast Texas and Southwest Louisiana

AGENCY: Coast Guard, Department of Homeland Security (DHS).

ACTION: Final rule.

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SUMMARY: The Coast Guard is establishing a permanent safety zone to be
enforced in the event of hurricanes, tropical storms, and other
disasters in southeast Texas and southwest Louisiana. This action is
necessary to ensure the safety of the waters of the Port Arthur Captain
of the Port (COTP) zone Port Arthur, TX, prior to, during and following
hurricanes, tropical storms and other disasters. This regulation
establishes actions to be completed by industry and vessels in the COTP
zone prior to landfall of hurricanes, tropical storms, and other
disasters threatening Port Arthur, TX.

DATES: This rule is effective September 21, 2023.

ADDRESSES: To view documents mentioned in this preamble as being
available in the docket, go to https://www.regulations.gov, type USCG-
2023-0380 in the search box and click ``Search.'' Next, in the Document
Type column, select ``Supporting & Related Material.''

FOR FURTHER INFORMATION CONTACT: If you have questions on this rule,
call or

email Mr. Douglas Hendrix, Marine Safety Unit Port Arthur, U.S. Coast
Guard; telephone<PHONE_NUMBER>, email [email protected].

SUPPLEMENTARY INFORMATION:

I. Table of Abbreviations

CFR Code of Federal Regulations
COTP Captain of the Port
DHS Department of Homeland Security
FR Federal Register
NPRM Notice of proposed rulemaking
Sec.  Section
U.S.C. United States Code

II. Background Information and Regulatory History

    Southeast Texas and southwest Louisiana has the potential to be
affected by hurricanes, tropical storms and other disasters on a yearly
basis, especially between the months of June and November.
    On May 31, 2023, the Coast Guard published a notice of proposed
rulemaking (NPRM) titled ``Safety Zone; Hurricanes, Tropical Storms,
and Other Disasters in Southeast Texas and Southwest Louisiana.'' 88 FR
34797. There we stated why we issued the NPRM and invited comments on
our proposed regulatory action related to this safety zone. During the
comment period that ended June 15, 2023, we received two (2) comments.

III. Legal Authority and Need for Rule

    The Coast Guard is issuing this rule under the authority in 46
U.S.C. 70034. The purpose of this rulemaking is to protect mariners,
port infrastructure and the environment during and after extreme
weather and other natural disasters.

IV. Discussion of Comments, Changes, and the Rule

    As noted above, we received two comments on our NPRM published May
31, 2023. One comment received was supportive of the rule. The second
comment suggested that (1) the regulatory text should be clearer in
identifying the geographic area(s) where Port Condition requirements
would be applicable; and (2) that the COTP should require
identification and notification of ``marine vessels, offshore rigs,
barges, etc.'' We concur with the first suggestion and have modified
the language in paragraphs (c)(1), (2), and (7) of the regulatory text
to be clearer. With regard to the second suggestion, we do not concur
that additional language is necessary. The regulatory text provides the
COTP sufficient authority to address situational circumstances without
establishing vague affirmative requirements.
    This rule establishes actions to be completed by local industry and
vessels in the COTP zone prior to landfall of hurricanes, tropical
storms, and other disasters threatening the COTP zone and describes the
actions a COTP may take to restrict access to hazardous areas in the
aftermath of these events. The safety zone consists of all navigable
waters of the Port Arthur COTP zone, as prescribed in 33 CFR 3.40-
28(b). The regulatory text appears at the end of this document.

V. Regulatory Analyses

    We developed this rule after considering numerous statutes and
Executive orders related to rulemaking. Below we summarize our analyses
based on a number of these statutes and Executive orders, and we
discuss First Amendment rights of protestors.

A. Regulatory Planning and Review

    Executive Orders 12866 and 13563 direct agencies to assess the
costs and benefits of available regulatory alternatives and, if
regulation is necessary, to select regulatory approaches that maximize
net benefits. This rule has not been designated a ``significant
regulatory action,'' under section 3(f) of Executive Order 12866, as
amended by Executive Order 14094 (Modernizing Regulatory Review).
Accordingly, this rule has not been reviewed by the Office of
Management and Budget (OMB).
    This regulatory action determination is based on the following: (1)
Vessel traffic and facilities would be impacted by this rule only
during limited times while heavy weather or other disaster is expected
to impact the Port Arthur COTP zone; (2) vessel traffic would be
secured only during port conditions Yankee, Zulu, and Recovery and only
in port areas affected by gale force winds; and (3) the Coast Guard
would issue a Broadcast Notice to Mariners via VHF-FM marine channel 16
about the safety zone, and this rule would allow vessels to seek
permission to remain in port.

B. Impact on Small Entities

    The Regulatory Flexibility Act of 1980, 5 U.S.C. 601-612, as
amended, requires Federal agencies to consider the potential impact of
regulations on small entities during rulemaking. The term ``small
entities'' comprises small businesses, not-for-profit organizations
that are independently owned and operated and are not dominant in their
fields, and governmental jurisdictions with populations of less than
50,000. The Coast Guard received no comments from the Small Business
Administration on this rulemaking. The Coast Guard certifies under 5
U.S.C. 605(b) that this rule will not have a significant economic
impact on a substantial number of small entities.
    While some owners or operators of vessels intending to transit the
safety zone may be small entities, for the reasons stated in section
V.A above, this rule will not have a significant economic impact on any
vessel owner or operator.
    Under section 213(a) of the Small Business Regulatory Enforcement
Fairness Act of 1996 (Pub. L. 104-121), we want to assist small
entities in understanding this rule. If the rule would affect your
small business, organization, or governmental jurisdiction and you have
questions concerning its provisions or options for compliance, please
call or email the person listed in the FOR FURTHER INFORMATION CONTACT
section.
    Small businesses may send comments on the actions of Federal
employees who enforce, or otherwise determine compliance with, Federal
regulations to the Small Business and Agriculture Regulatory
Enforcement Ombudsman and the Regional Small Business Regulatory
Fairness Boards. The Ombudsman evaluates these actions annually and
rates each agency's responsiveness to small business. If you wish to
comment on actions by employees of the Coast Guard, call 1-888-REG-FAIR
(1-888-734-3247). The Coast Guard will not retaliate against small
entities that question or complain about this rule or any policy or
action of the Coast Guard.

C. Collection of Information

    This rule will not call for a new collection of information under
the Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520).

D. Federalism and Indian Tribal Governments

    A rule has implications for federalism under Executive Order 13132,
Federalism, if it has a substantial direct effect on the States, on the
relationship between the National Government and the States, or on the
distribution of power and responsibilities among the various levels of
government. We have analyzed this rule under that order and have
determined that it is consistent with the fundamental federalism
principles and preemption requirements described in Executive Order
13132.
    Also, this rule does not have tribal implications under Executive
Order 13175, Consultation and Coordination with Indian Tribal
Governments, because it does not have a substantial direct effect on
one or more Indian

tribes, on the relationship between the Federal Government and Indian
tribes, or on the distribution of power and responsibilities between
the Federal Government and Indian tribes.

E. Unfunded Mandates Reform Act

    The Unfunded Mandates Reform Act of 1995 (2 U.S.C. 1531-1538)
requires Federal agencies to assess the effects of their discretionary
regulatory actions. In particular, the Act addresses actions that may
result in the expenditure by a State, local, or tribal government, in
the aggregate, or by the private sector of $100,000,000 (adjusted for
inflation) or more in any one year. Though this rule will not result in
such an expenditure, we do discuss the effects of this rule elsewhere
in this preamble.

F. Environment

    We have analyzed this rule under Department of Homeland Security
Directive 023-01, Rev. 1, associated implementing instructions, and
Environmental Planning COMDTINST 5090.1 (series), which guide the Coast
Guard in complying with the National Environmental Policy Act of 1969
(42 U.S.C. 4321-4370f), and have determined that this action is one of
a category of actions that do not individually or cumulatively have a
significant effect on the human environment. This rule involves a
safety zone that prohibits entry in certain waters of the Port Arthur
COTP Zone for the duration needed to ensure safe transit of vessels and
industry post hurricane, post storm, and post emergency. It is
categorically excluded from further review under paragraph L60(a) of
Appendix A, Table 1 of DHS Instruction Manual 023-01-001-01, Rev. 1. A
Record of Environmental Consideration supporting this determination is
available in the docket. For instructions on locating the docket, see
the ADDRESSES section of this preamble.

G. Protest Activities

    The Coast Guard respects the First Amendment rights of protesters.
Protesters are asked to call or email the person listed in the FOR
FURTHER INFORMATION CONTACT section to coordinate protest activities so
that your message can be received without jeopardizing the safety or
security of people, places, or vessels.

List of Subjects in 33 CFR Part 165

    Harbors, Marine safety, Navigation (water), Reporting and
recordkeeping requirements, Security measures, Waterways.

    For the reasons discussed in the preamble, the Coast Guard amends
33 CFR part 165 as follows:

PART 165--REGULATED NAVIGATION AREAS AND LIMITED ACCESS AREAS

0
1. The authority citation for part 165 continues to read as follows:

    Authority: 46 U.S.C. 70034, 70051, 70124; 33 CFR 1.05-1, 6.04-1,
6.04-6, and 160.5; Department of Homeland Security Delegation No.
00170.1, Revision No. 01.3.

0
2. Add Sec.  165.804 to read as follows:

Sec.  165.804  Safety Zone; Hurricanes, Tropical Storms and Other
Disasters in Southeast Texas and Southwest Louisiana.

    (a) Regulated areas. All navigable waters within the Port Arthur
Captain of the Port (COTP) Zone, MSU Port Arthur, TX, as described in
33 CFR 3.40-28(b), during specified conditions.
    (b) Definitions. (1) Designated representative means Coast Guard
Patrol Commanders, including Coast Guard coxswains, petty officers, and
other officers operating Coast Guard vessels, and Federal, state, and
local officers designated by or assisting the COTP Port Arthur, in the
enforcement of the regulated areas.
    (2) Port Condition WHISKEY means a condition set by the COTP when
weather advisories indicate sustained gale force winds (39-54 mph/34-47
knots) from a tropical or hurricane force storm are predicted to make
landfall at the port within 72 hours.
    (3) Port Condition X-RAY means a condition set by the COTP when
weather advisories indicate sustained gale force winds (39-54 mph/34-47
knots) from a tropical or hurricane force storm are predicted to make
landfall at the port within 48 hours.
    (4) Port Condition YANKEE means a condition set by the COTP when
weather advisories indicate that sustained gale force winds (39-54 mph/
34-47 knots) from a tropical or hurricane force storm are predicted to
make landfall at the port within 24 hours.
    (5) Port Condition ZULU means a condition set by the COTP when
weather advisories indicate that sustained gale force winds (39-54 mph/
34-47 knots) from a tropical or hurricane force storm are predicted to
make landfall at the port within 12 hours.
    (6) Port Condition RECOVERY means the condition set when weather
advisories indicate that sustained gale force winds from a tropical
hurricane force storm are no longer predicted for the designated area.
This port condition remains in effect until the regulated areas are
safe and reopened to normal operations.
    (c) Regulations--(1) Port Condition WHISKEY. All vessels and port
facilities in designated areas must exercise due diligence in
preparation for potential storm impacts. Ports and waterfront
facilities must begin removing all debris and securing potential flying
hazards. Oceangoing vessels 500 gross tons (GT) and above must make
plans to depart no later than the setting of Port Condition Yankee
unless authorized by the COTP. Vessels wishing to remain in port are
required to submit a Notice of Intent to Remain In Port to the COTP
prior to setting Port Condition X-Ray.
    (2) Port Condition X-RAY. All vessels and port facilities in
designated areas must ensure that potential flying debris is removed or
secured. Hazardous materials/pollution hazards must be secured in a
safe manner and away from waterfront areas. Vessels over 500GT without
an approval to remain in port must depart prior to the setting of Port
Condition YANKEE. Vessels with the COTP's permission to remain in port
must implement their pre-approved mooring arrangement. Terminal
operators must prepare to terminate all cargo operations. The COTP may
require additional precautions to ensure the safety of the ports and
waterways.
    (3) Port Condition YANKEE. Affected ports are closed to inbound
vessel traffic. All oceangoing vessels greater than 500 Gross Tons must
depart designated ports prior to the setting of Port Condition ZULU.
Terminal operators must terminate all cargo operations not associated
with storm preparations. Cargo operations associated with storm
preparations include moving cargo within or off the port for securing
purposes, port/facility equipment preparations, and similar activities,
but do not include moving cargo onto the port or vessel loading/
discharging operations unless specifically authorized by the COTP. All
facilities must continue to operate in accordance with approved
Facility Security Plans and comply with the requirements of the
Maritime Transportation Security Act.
    (4) Port Condition ZULU. Designated areas are closed to all vessel
traffic except those specifically authorized by the COTP. Cargo
operations are suspended, including bunkering and lightering. Waivers
may be granted unless Cargo of Particular Hazard or Certain Dangerous
Cargo is involved.
    (5) Port Condition RECOVERY. Designated areas are closed to all
commercial traffic and recreational vessels 65-feet in length and
greater. Based on assessments of channel

conditions, navigability concerns, and hazards to navigation, the COTP
may permit vessel movements with restrictions. Restrictions may
include, but are not limited to, preventing vessel movements, imposing
draft, speed, size, horsepower, or daylight restrictions, or directing
the use of specific routes. Vessels permitted to transit the regulated
area shall comply with the lawful orders or directions given by the
COTP or designated representative.
    (6) Safety zones notice. The Coast Guard COTP will notify the
maritime community of periods during which these safety zones will be
in effect via Broadcast Notice to Mariners and Marine Safety
Information Bulletin or by on-scene designated representatives.
    (7) Regulated area notice. The Coast Guard will provide notice of
the designated ports and/or waterways within the regulated area covered
by each Port Condition via Broadcast Notice to Mariners, Marine Safety
Information Bulletin or by on-scene designated representatives.
    (8) Exception. This section does not apply to authorized law
enforcement agencies operating within the regulated area.

    Dated: August 15, 2023.
Anthony R. Migliorini,
Captain, U.S. Coast Guard, Captain of the Port Marine Safety Unit Port
Arthur.
[FR Doc. 2023-18066 Filed 8-21-23; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register: January 31, 2007 (Volume 72, Number 20)]
[Notices]
[Page 4547-4548]
[DOCID:fr31ja07-108]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55163; File No. SR-Amex-2007-11]

Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
and Amendment No. 1 Thereto Relating to the Establishment of a Pilot
Program Increasing Position and Exercise Limits for Options on the
iShares[supreg] Russell 2000[supreg] Index Fund

 January 24, 2007.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on January 22, 2007, the American Stock Exchange LLC (``Amex'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been substantially prepared by Amex. On
January 22, 2007, Amex submitted Amendment No. 1 to the proposed rule
change. Amex has filed the proposal pursuant to Section 19(b)(3)(A) of
the Act \3\ and Rule 19b-4(f)(6) thereunder,\4\ which renders the
proposal effective upon filing with the Commission. The Commission is
publishing this notice to solicit comments on the proposed rule change,
as amended, from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend Rule 904 to exempt options on the
iShares[supreg] Russell 2000[supreg] Index Fund (``IWM'') from the
position and exercise limits provided for under the Rule 904 Pilot
Program and to increase the standard position and exercise limits for
IWM as part of a six-month pilot (``IWM Pilot Program''). The text of
the proposed rule change is available at Amex, the Commission's Public
Reference Room, and http://www.amex.com.

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

    In its filing with the Commission, Amex 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. Amex 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 Commentary .07 to Rule 904 on a six-
month pilot basis to exempt options on IWM from the Rule 904 Pilot
Program. Under the Rule 904 Pilot Program, the position and exercise
limits for IWM would be reduced on January 22, 2007 from 500,000 to
250,000 contracts. The Exchange now proposes to allow position and
exercise limits for options on IWM to remain at 500,000 contracts on a
pilot basis, from January 22, 2007 through July 22, 2007.
    In June 2005, as a result of a 2-for-1 stock split, the position
limit for IWM options was temporarily increased from 250,000 contracts
(covering 25,000,000 shares) to 500,000 contracts (covering 50,000,000
shares). At the time of the split, the furthest IWM option expiration
date was January 2007. Therefore, the temporary increase of the IWM
position limit will revert to the pre-split level (as provided for in
connection with the Rule 904 Pilot Program) of 250,000 contracts after
expiration in January 2007, or on January 22, 2007.\5\
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    \5\ See Amex Information Circular 05-0397.
---------------------------------------------------------------------------

    The Exchange believes that a position limit of 250,000 contracts is
too low and may be a deterrent to the successful trading of IWM
options. Importantly, options on IWM are \1/10\th the size of options
on the Russell 2000[supreg] Index (``RUT''), which have a position
limit of 50,000 contracts.\6\ Traders who trade IWM options to hedge
positions in RUT options are likely to find a position limit of 250,000
contracts in IWM options too restrictive and insufficient to properly
hedge. For example, if a trader held 50,000 RUT options and wanted to
hedge that position with IWM options, the trader would need--at a
minimum--500,000 IWM options to properly hedge the position. Therefore,
the Exchange believes that a position limit of 250,000 contracts is too
low and may adversely affect market participants' ability to provide
liquidity in this product.
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    \6\ See Amex Rule 904C; see also Securities Exchange Act Release
Nos. 45236 (January 2, 2002), 67 FR 1378 (January 10, 2002) (SR-
Amex-2001-42) (increase of position and exercise limits to 300,000
for QQQ options); and 51043 (January 14, 2005), 70 FR 3402 (January
24, 2005) (SR-Amex-2005-06) (increase of position and exercise
limits for options on Standard and Poor's Depositary
Receipts[supreg] from 75,000 to 300,000).
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    Additionally, IWM options have grown to become one of the largest
options contracts in terms of trading volume. For example, the volume
in options on IWM set a new single-day record on June 8, 2006, when
760,803 contracts (120,229 calls and 640,574 puts) traded on that day.
This record level volume beat the previous single-day high of 727,521
contracts on May 17, 2006. Further, over the previous six months,
ending December 31, 2006, the average daily trading volume (market-
wide) of IWM options has been 300,409 contracts and a total of
2,444,470 contracts have traded on the Exchange.
    As a result, the Exchange proposes that options on IWM be subject
to position and exercise limits of 500,000 contracts on a pilot basis
to run from January 22, 2007 through July 22, 2007.\7\ The Exchange
believes that increasing position and exercise limits for IWM options
will lead to a more liquid and

more competitive market environment for IWM options that will benefit
customers interested in this product.
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    \7\ Pursuant to Rule 905, the exercise limit established for IWM
options shall be equivalent to the position limit prescribed for IWM
options in Commentary .07 to Rule 904. The increased exercise limits
would only be in effect during the pilot period, to run from January
22, 2007 through July 22, 2007. See Amendment No. 1 to the proposed
rule change.
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    The Exchange would require that each member or member organization
that maintains a position on the same side of the market in excess of
10,000 contracts in the IWM option class, for its own account or for
the account of a customer report certain information.\8\ This data
would include, but would not be limited to, the option position,
whether such position is hedged and if so, a description of the hedge,
and if applicable, the collateral used to carry the position. Exchange
Registered Options Traders and specialists would continue to be exempt
from this reporting requirement as market-maker information can be
accessed through the Exchange's market surveillance systems. In
addition, the general reporting requirement for customer accounts that
maintain a position in excess of 200 contracts will remain at this
level for IWM options.\9\
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    \8\ See Amex Rule 906(b).
    \9\ See Amex Rule 906(a).
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2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with and furthers the objectives of Section 6(b)(5) of the Act,\10\ in
that it is designed to promote just and equitable principles of trade,
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.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.

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

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

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

    Because the forgoing rule change does not: (1) Significantly affect
the protection of investors or the public interest; (2) impose any
significant burden on competition; and (3) become operative for 30 days
after the date of this filing, or such shorter time as the Commission
may designate, it has become effective pursuant to Section 19(b)(3)(A)
of the Act \11\ and Rule 19b-4(f)(6) thereunder.\12\
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    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(6).
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    A proposed rule change filed under 19b-4(f)(6) normally may not
become operative prior to 30 days after the date of filing.\13\
However, Rule 19b-4(f)(6)(iii) \14\ 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. The Commission believes
that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest because such waiver
would permit position and exercise limits for options on IWM to remain
at 500,000 option contracts for a six-month pilot period. For this
reason, the Commission designates the proposed rule change to be
effective and operative upon filing with the Commission.\15\
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    \13\ 17 CFR 240.19b-4(f)(6)(iii). In addition, Rule 19b-
4(f)(6)(iii) requires that a self-regulatory organization submit to
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 Commission has decided to waive the five-day
pre-filing notice requirement.
    \14\ Id.
    \15\ For the purposes only of waiving the 30-day operative
delay, the Commission 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 such proposed rule
change the Commission may summarily abrogate 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.

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 e-mail to<EMAIL_ADDRESS>Please include

File Number SR-Amex-2007-11 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-Amex-2007-11. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml
). Copies of the submission, all subsequent amendments, all

written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Room. Copies of the filing
also will be available for inspection and copying at the principal
office of Amex. All comments received will be posted without change;
the Commission does not edit personal identifying information from
submissions. You should submit only information that you wish to make
available publicly. All submissions should refer to File Number SR-
Amex-2007-11 and should be submitted on or before February 21, 2007.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\16\
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    \16\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-1519 Filed 1-30-07; 8:45 am]

BILLING CODE 8011-01-P