From:	Beahm, Catherine<EMAIL_ADDRESS>Sent:	Wednesday, August 14, 2019 12:32 PM
To:	McConnell, Robert
Subject:	VOC RACT Order for Concord Litho

Bob,

Concord Litho decommissioned all permitted devices (4 presses, a plate processor and an RTO)
at the facility in September and October of 2018 and therefore, the permit was terminated.
While the facility is still in operation, they have converted to digital printing and no longer
require a State Permit to Operate in accordance with Env-A 600.

Hope this helps. If not, feel free to call me back.

Cathy Beahm
SIP Planning Administrator
NH Department of Environmental Services
Air Resources Division
29 Hazen Drive, PO Box 95
Concord, NH 03302-0095

(603) 271-6793

? Please consider the environment before printing this e-mail.


[Federal Register Volume 82, Number 241 (Monday, December 18, 2017)]
[Notices]
[Pages 60085-60087]
[FR Doc No: 2017-27149]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82302; File No. SR-NASDAQ-2017-126]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend the Exchange Fees at Rules 7023, 7044, 7045 and 7048 To Withdraw
Four Rarely-Purchased Products From Sale

December 12, 2017.
    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 November 30, 2017, The Nasdaq Stock Market LLC (``Nasdaq'' 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 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 proposes to amend the Exchange's fees at Rules 7023,
7044, 7045 and 7048 to withdraw four rarely-purchased products from
sale: Historical ModelView Information, Nasdaq Custom Data Feeds, the
Nasdaq Market Pathfinders Service, and the PORTAL Reference Database.
    The text of the proposed rule change is available on the Exchange's
website at http://nasdaq.cchwallstreet.com, at the principal office of
the Exchange, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of the proposed rule change is to withdraw four rarely-
purchased products from sale--Historical ModelView Information, Nasdaq
Custom Data Feeds, the Nasdaq Market Pathfinders Service, and the
PORTAL Reference Database--as the Exchange performs an ongoing review
of its product offerings.
ModelView
    Historical ModelView Information (``ModelView''), set forth in Rule
7023(f), provides historical information regarding aggregate displayed
and hidden liquidity at each price level in the Nasdaq Market Center on
a T+10 basis. The information is aggregated at each price level and is
designed to be used by developers of automated trading and order-
routing models to improve Nasdaq trading efficiency and help firms
understand how to minimize price impact with large orders. Information
is useful for historical analysis, and does not reveal information
about reserve size posted by any specific market participant.
Nasdaq Custom Data Feeds
    Nasdaq Custom Data Feeds, described at Rule 7048, is a data feed
service that allows Nasdaq to accommodate individual subscribers'
requests for market data feeds containing a specified combination of
data elements that would otherwise be delivered on multiple data feeds.
These customized data feeds provide each customer with the ability to
receive a unique combination of functionality and content.
Pathfinders
    As set forth in Rule 7044, the Nasdaq Market Pathfinders Service
(``Pathfinders'') is ``a real time data product that tracks the
aggregated market activity of certain market participants who are
aggressively buying and/or selling.'' The product identifies bullish or
bearish positions taken by three or more market participants over an
extended period of time and captures the aggregate sentiment of this
well-informed group by indicating the number of Pathfinders bullish
versus bearish in a particular stock, as well as the ratio of shares
bought versus sold.
PORTAL Reference Database
    PORTAL securities are restricted securities.\3\ The PORTAL
Reference Database, set forth in Rule 7045, is an electronic reference
database of information culled from PORTAL offering documents and
applications submitted to Nasdaq since 1990. The

database is fully electronic and allows users to determine the PORTAL
issue's name and offering description, CUSIP, country of incorporation,
security class, maturity class and date, currency denomination,
applicable interest and credit rating, convertibility and call
provisions, total number of shares offered, and date of PORTAL
designation, as well as other information. The database is open to all
market participants.\4\
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    \3\ PORTAL securities are defined in the text of Rule 7045 as
``restricted securities, as defined in SEC Rule 144(a)(3) under the
Securities Act; or securities that, pursuant to contract or through
terms of the security, upon issuance and continually thereafter only
can be sold pursuant to Regulation S under the Securities Act, SEC
Rule 144A, or SEC Rule 144 under the Securities Act, or in a
transaction exempt from the registration requirements of the
Securities Act pursuant to Section 4 thereof and not involving any
public offering that were designated for inclusion in the PORTAL
Market by Nasdaq. PORTAL equity securities are PORTAL securities
that represent an ownership interest in a legal entity, including
but not limited to any common, capital, ordinary, preferred stock,
or warrant for any of the foregoing, shares of beneficial interest,
or the equivalent thereof (regardless of whether voting or non-
voting, convertible or non-convertible, exchangeable or non-
exchangeable, exercisable or nonexercisable, callable or non-
callable, redeemable or non-redeemable). PORTAL debt securities are
PORTAL securities that are United States dollar denominated debt
securities issued by United States and/or foreign private
corporations.''
    \4\ Nasdaq no longer designates securities as PORTAL securities.
This is an historical database only, and the information contained
within that database is, and will continue to be, widely available
after this product is withdrawn.
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Proposed Changes
    The Exchange proposes to withdraw ModelView, Nasdaq Custom Data
Feeds, Pathfinders, and the PORTAL Reference Database from sale. As a
result of an ongoing review of its product offerings, the Exchange has
elected to withdraw these products due to the evolution of the market,
including the competitive forces of operating an Exchange, market
feedback, and the advancement of market structure since the products
were introduced.
    The products are all between nine and twelve years old. ModelView
was introduced in 2005,\5\ Nasdaq Custom Data Feeds in 2006,\6\
Pathfinders in 2008,\7\ and the PORTAL Reference Database in 2008,\8\
and yet a sustained lack of customer interest over that period has
rendered continued investments in these products impractical and
unwise. Indeed, ModelView and Pathfinders have fewer than ten customers
combined, and Nasdaq Custom Data Feeds and the PORTAL Reference
Database have no customers. Advancements in market structure over the
last ten years, coupled with a lack of customer interest, caused the
Exchange to conclude that the products should be discontinued. While
the Exchange does not believe any concerns about the products would be
warranted, in the case of ModelView and Pathfinders, some customers
have recently posed questions regarding the types of information
included in the product. The Exchange would not offer a data product
that it believed to be detrimental to the market, but Pathfinders and
ModelView simply did not earn enough revenue to justify the costly
undertaking of upgrading them. Accordingly, the Exchange has elected to
discontinue these low-revenue products.
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    \5\ See Securities Exchange Act Release No. 51851 (June 14,
2005), 70 FR 35752 (June 21, 2005) (SR-NASD-2005-060); Securities
Exchange Act Release No. 52112 (July 22, 2005), 70 FR 43917 (July
29, 2005) (approval order).
    \6\ See Securities Exchange Act Release No. 54959 (December 18,
2006), 71 FR 77842 (December 27, 2006) (SR-NASDAQ-2006-056);
Securities Exchange Act Release No. 59579 (March 13, 2009), 74 FR
12167 (March 23, 2009) (approval order).
    \7\ See Securities Exchange Act Release No. 58145 (July 11,
2008), 73 FR 41143 (July 17, 2008) (SR-NASDAQ-2008-016); Securities
Exchange Act Release No. 59266 (January 16, 2009), 74 FR 4799
(January 27, 2009) (approval order).
    \8\ See Securities Exchange Act Release No. 58622 (September 23,
2008), 73 FR 56876 (September 30, 2008) (SR-NASDAQ-2008-072);
Securities Exchange Act Release 58891 (October 30, 2008), 73 FR
66090 (November 6, 2008) (approval order).
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    The Exchange proposes these changes so that it can remain
competitive among exchanges and other competitors. Data products such
as ModelView, Nasdaq Custom Data Feeds, Pathfinders, and the PORTAL
Reference Database are a means by which exchanges compete to attract
order flow. Customers base their order routing and purchasing decisions
on total interactions with an exchange, and the market data products
offered inform those decisions. In this competitive environment, the
Exchange must continually review and adjust its product offerings and
fees and, in this case, the Exchange has determined to jettison these
four products to remain competitive.
    In light of the age of these products, the small amount of revenue
generated, the cost of maintenance, and the fierce competitive
environment, the Exchange proposes to withdraw ModelView, Nasdaq Custom
Data Feeds, Pathfinders, and the PORTAL Reference Database from the
market.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\9\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\10\ in particular, 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. In light of the age of ModelView, Nasdaq Custom Data Feeds,
Pathfinders, and the PORTAL Reference Database, the small number of
subscribers, and the fact that continuing to invest in unpopular
products would be impractical, the Exchange believes that the proposal
to remove these products from the market strikes the correct balance 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.
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    \9\ 15 U.S.C. 78f(b).
    \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 changes will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. In terms of inter-market
competition, the Exchange notes that it operates in a highly
competitive market in which market participants can readily favor
competing venues if they deem fee levels at a particular venue to be
excessive, rebate opportunities available at other venues to be more
favorable, or prefer the market data offerings of another exchange. In
such an environment, the Exchange must continually adjust its product
offerings to remain competitive with other exchanges. Because
competitors are free to modify their product offerings in response, and
because market participants may readily adjust their order routing
practices, the Exchange believes that the degree to which changes in
product offerings may impose any burden on competition is extremely
limited. The Exchange does not expect the proposed withdrawal of
ModelView, Nasdaq Custom Data Feeds, Pathfinders, and the PORTAL
Reference Database to have a significant impact on competition. The
products have few purchasers, and the Exchange has already discussed
the proposal with current purchasers to ameliorate the impact of
withdrawal. The products will not have any future impact on competition
as the products will no longer be offered.
    The proposed withdrawals illustrate the impact of market forces on
the Exchange. Customers have not purchased these products in sufficient
numbers to economically justify continuing to offer these products, and
the Exchange therefore decided to discontinue them. That is precisely
how competitive markets operate.

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

    No written comments were either solicited or received.

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

    Because the proposed rule change does not: (i) Significantly affect
the protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative for 30
days from the date on

which it was filed, or such shorter time as the Commission may
designate, 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). 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 the 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 \13\ normally does not become operative for 30 days after the date
of its filing. 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 asked the Commission to 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.
The Commission notes that, in light of the age of the products, the
small number of subscribers (fewer than ten combined for ModelView and
Pathfinders, and none for Nasdaq Custom Data Feeds and the PORTAL
Reference Database), the impracticality of continuing to invest in
these low-revenue products, and the competition among exchanges and
other entities, the Exchange has determined to discontinue these
products. Also, the Exchange stated that some customers have recently
posed questions regarding the types of information included in
ModelView and Pathfinders, and the Exchange wants to be responsive to
customer feedback about products. Moreover, the Commission notes that
the Exchange has already discussed the proposal with the affected
customers to ameliorate any impact of the withdrawal. Accordingly, the
Commission hereby waives the 30-day operative delay and designates the
proposal operative upon filing.\15\
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    \13\ 17 CFR 240.19b-4(f)(6).
    \14\ 17 CFR 240.19b-4(f)(6)(iii).
    \15\ For purposes only of waiving the 30-day operative delay,
the Commission has also 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 protected]. Please include
File Number SR-NASDAQ-2017-126 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-NASDAQ-2017-126. 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-NASDAQ-2017-126 and should be submitted
on or before January 8, 2018.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
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    \16\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2017-27149 Filed 12-15-17; 8:45 am]
 BILLING CODE 8011-01-P