[Federal Register Volume 76, Number 238 (Monday, December 12, 2011)]
[Notices]
[Pages 77277-77279]
[FR Doc No: 2011-31734]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-65897; File No. SR-Phlx-2011-163]

Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change Relating
to the Options Regulatory Fee

 December 6, 2011.
    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 23, 2011, NASDAQ OMX PHLX LLC (``Phlx'' or ``Exchange'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I, II, and III below, which
Items have been prepared by the Exchange. The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to increase its Options Regulatory Fee
(``ORF'').
    While changes to the Fee Schedule pursuant to this proposal are
effective upon filing, the Exchange has designated these changes to be
operative January 3, 2012.
    The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaqtrader.com/micro.aspx?id=PHLXfilings, 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
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of the proposed rule change is to amend the ORF to
increase it from $0.0035 per contract to $0.004 per contract in order
to recoup increased regulatory expenses while also ensuring that the
ORF will not exceed costs.
    The ORF is assessed to each member for all options transactions
executed or cleared by the member that are cleared by The Options
Clearing Corporation (``OCC'') in the customer range (i.e., that clear
in the customer account of the member's clearing firm at OCC). The
Exchange monitors the amount of revenue collected from the ORF to
ensure that it, in combination with its other regulatory fees and
fines, does not exceed regulatory costs. The ORF is imposed upon all
[sic] transactions executed by a member, even if such transactions do
not take place on the Exchange.\3\ The ORF also includes options
transactions that are not executed by an Exchange member but are
ultimately cleared by an Exchange member.\4\ The ORF is not charged for
member options transactions because members incur the costs of owning
memberships and through their memberships are charged transaction fees,
dues and other fees that are not applicable to non-members. The dues
and fees paid by members go into the general funds of the Exchange, a
portion of which is used to help pay the costs of regulation. The ORF
is collected indirectly from members through their clearing firms by
OCC on behalf of the Exchange.
---------------------------------------------------------------------------

    \3\ The ORF applies to all ``C'' account origin code orders
executed by a member on the Exchange. Exchange rules require each
member to record the appropriate account origin code on all orders
at the time of entry in order to allow the Exchange to properly
prioritize and route orders and assess transaction fees pursuant to
the rules of the Exchange and report resulting transactions to the
OCC. See Exchange Rule 1063, Responsibilities of Floor Brokers, and
Options Floor Procedure Advice F-4, Orders Executed as Spreads,
Straddles, Combinations or Synthetics and Other Order Ticket Marking
Requirements. The Exchange represents that it has surveillances in
place to verify that members mark orders with the correct account
origin code.
    \4\ In the case where one member both executes a transaction and
clears the transaction, the ORF is assessed to the member only once
on the execution. In the case where one member executes a
transaction and a different member clears the transaction, the ORF
is assessed only to the member who executes the transaction and is
not assessed to the member who clears the transaction. In the case
where a non-member executes a transaction and a member clears the
transaction, the ORF is assessed to the member who clears the
transaction.
---------------------------------------------------------------------------

    The ORF is designed to recover a portion of the costs to the
Exchange of the supervision and regulation of its members, including
performing routine surveillances, investigations, examinations,
financial monitoring, and policy, rulemaking, interpretive, and
enforcement activities. The Exchange believes that revenue generated
from the ORF, when combined with all of the Exchange's other regulatory
fees, will cover a material portion, but not all, of the Exchange's
regulatory costs. The Exchange will continue to monitor the amount of
revenue collected from the ORF to ensure that it, in combination with
its other regulatory fees and fines, do not exceed regulatory costs. If
the Exchange determines regulatory revenues exceed regulatory costs,
the Exchange will adjust the ORF by submitting a fee change filing to
the Commission.
    While changes to the Fee Schedule pursuant to this proposal are
effective upon filing, the Exchange has designated these changes to be
operative on January 3, 2012.
2. Statutory Basis
    The Exchange believes that its proposal to amend its Fee Schedule
is consistent with Section 6(b) of the Act \5\ in general, and furthers
the objectives of Section 6(b)(4) of the Act \6\ in particular, in that
it is an equitable allocation of reasonable fees and other charges
among Exchange members. The Exchange believes that the fee change is
reasonable because the Exchange desires to recoup its regulatory
expenses while also ensuring that the revenue collected from the ORF
does not exceed regulatory costs.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

    The Exchange believes that the ORF is equitable and not unfairly
discriminatory because it is objectively allocated to Exchange members
in that it would continue to be charged to all members on all of their
transactions that clear as customer at OCC. The Exchange is assessing
higher fees to those member firms that require more Exchange regulatory
services based on the amount of customer options business they conduct.
In addition, the ORF seeks to recover the costs of supervising and
regulating members, including performing routine surveillances,
investigations, examinations, financial monitoring, and policy,
rulemaking, interpretive, and enforcement activities. The ORF is not
charged for member options transactions because members incur the costs
of owning memberships and through their memberships are charged
transaction fees, dues and other fees that are not applicable to non-
members. Additionally, the dues and fees paid by members go into the
general funds of the Exchange, a portion of which is used to help pay
the costs of regulation.

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.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\7\ 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 should be
approved or disapproved.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------

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-Phlx-2011-163 on the subject line.

Paper Comments

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

    All submissions should refer to File Number SR-Phlx-2011-163. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of 10
a.m. and 3 p.m. Copies of such filing also will be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make publicly available. All
submissions should refer to File Number SR-Phlx-2011-163 and should be
submitted on or before January 3, 2012.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2011-31734 Filed 12-9-11; 8:45 am]
BILLING CODE 8011-01-P


 [Federal Register Volume 82, Number 99 (Wednesday, May 24, 2017)] [Notices] [Pages 23955-23956] [FR Doc No: 2017-10694]

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

SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting; Date and Time Change

Federal Register Citation of Previous Announcement: To be published.

Previously Announced Time and Date of the Meeting: Thursday, May 25,  2017 2:00 p.m.

Changes in the Meeting: The Closed Commission Meeting scheduled for May  25, 2017 at 2:00 p.m. has been changed to Wednesday, May 24, 2017 at  3:00 p.m.

Contact Person for More Information: For further information and to  ascertain what, if any, matters have been added, deleted or postponed,  please contact the Office of the Secretary at<PHONE_NUMBER>.

    Dated: May 19, 2017. Brent J. Fields, Secretary. [FR Doc. 2017-10694 Filed 5-22-17; 11:15 am]  BILLING CODE 8011-01-P


[Federal Register: July 5, 2011 (Volume 76, Number 128)]
[Proposed Rules]
[Page 39063-39067]
[DOCID:fr05jy11-31]

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

DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

44 CFR Part 67

[Docket ID FEMA-2011-0002; Internal Agency Docket No. FEMA-B-1196]

Proposed Flood Elevation Determinations

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Proposed rule.

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

SUMMARY: Comments are requested on the proposed Base (1% annual-chance)
Flood Elevations (BFEs) and proposed BFE modifications for the
communities listed in the table below. The purpose of this proposed
rule is to seek general information and comment regarding the proposed
regulatory flood elevations for the reach described by the downstream
and upstream locations in the table below. The BFEs and modified BFEs
are a part of the floodplain management measures that the community is
required either to adopt or to show evidence of having in effect in
order to qualify or remain qualified for participation in the National
Flood Insurance Program (NFIP). In addition, these elevations, once
finalized, will be used by insurance agents and others to calculate
appropriate flood insurance premium rates for new buildings and the
contents in those buildings.

DATES: Comments are to be submitted on or before October 3, 2011.

ADDRESSES: The corresponding preliminary Flood Insurance Rate Map
(FIRM) for the proposed BFEs for each community is available for
inspection at the community's map repository. The respective addresses
are listed in the table below.
    You may submit comments, identified by Docket No. FEMA-B-1196, to
Luis Rodriguez, Chief, Engineering Management Branch, Federal Insurance
and Mitigation Administration, Federal Emergency Management Agency, 500
C Street, SW., Washington, DC 20472,<PHONE_NUMBER>, or (e-mail)
<EMAIL_ADDRESS>
FOR FURTHER INFORMATION CONTACT: Luis Rodriguez, Chief, Engineering
Management Branch, Federal Insurance and Mitigation Administration,
Federal Emergency Management Agency, 500 C Street, SW., Washington, DC
20472,<PHONE_NUMBER>, or (e-mail<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: The Federal Emergency Management Agency
(FEMA) proposes to make determinations of BFEs and modified BFEs for
each community listed below, in accordance with section 110 of the
Flood Disaster Protection Act of 1973, 42 U.S.C. 4104, and 44 CFR
67.4(a).
    These proposed BFEs and modified BFEs, together with the floodplain
management criteria required by 44 CFR 60.3, are the minimum that are
required. They should not be construed to mean that the community must
change any existing ordinances that are more stringent in their
floodplain management requirements. The community may at any time enact
stricter requirements of its own or pursuant to policies established by
other Federal, State, or regional entities. These proposed elevations
are used to meet the floodplain management requirements of the NFIP and
also are used to calculate the appropriate flood insurance premium
rates for new buildings built after these elevations are made final,
and for the contents in those buildings.
    Comments on any aspect of the Flood Insurance Study and FIRM, other
than the proposed BFEs, will be considered. A letter acknowledging
receipt of any comments will not be sent.
    National Environmental Policy Act. This proposed rule is
categorically excluded from the requirements of 44 CFR part 10,
Environmental Consideration. An environmental impact assessment has not
been prepared.
    Regulatory Flexibility Act. As flood elevation determinations are
not within the scope of the Regulatory Flexibility Act, 5 U.S.C. 601-
612, a regulatory flexibility analysis is not required.
    Executive Order 12866, Regulatory Planning and Review. This
proposed rule is not a significant regulatory action under the criteria
of section 3(f) of Executive Order 12866, as amended.
    Executive Order 13132, Federalism. This proposed rule involves no
policies that have federalism implications under Executive Order 13132.
    Executive Order 12988, Civil Justice Reform. This proposed rule
meets the applicable standards of Executive Order 12988.

List of Subjects in 44 CFR Part 67

    Administrative practice and procedure, Flood insurance, Reporting
and recordkeeping requirements.

    Accordingly, 44 CFR part 67 is proposed to be amended as follows:

PART 67--[AMENDED]

    1. The authority citation for part 67 continues to read as follows:

    Authority: 42 U.S.C. 4001 et seq.; Reorganization Plan No. 3 of
1978, 3 CFR, 1978 Comp., p. 329; E.O. 12127, 44 FR 19367, 3 CFR,
1979 Comp., p. 376.

Sec.  67.4  [Amended]

    2. The tables published under the authority of Sec.  67.4 are
proposed to be amended as follows:

----------------------------------------------------------------------------------------------------------------
                                                                  * Elevation in feet
                                                                 (NGVD) + Elevation in
                                                                 feet (NAVD)
                                       Location of referenced     Depth in feet above
         Flooding source(s)                 elevation**        ground [caret] Elevation    Communities affected
                                                                    in meters (MSL)
                                                              --------------------------
                                                                Effective     Modified
----------------------------------------------------------------------------------------------------------------
                                  Lake County, Illinois, and Incorporated Areas
----------------------------------------------------------------------------------------------------------------
Bull Creek (near Waukegan)..........  Approximately 0.41 mile         +606         +596  City of Waukegan,
                                       downstream of Sheridan                             Unincorporated Areas
                                       Road.                                              of Lake County,
                                                                                Village of Beach Park.
                                      Approximately 475 feet          None         +681
                                       upstream of Lewis
                                       Avenue.
Bull Creek 27th Street Tributary....  Approximately 0.51 mile         None         +622  City of Zion, Village
                                       downstream of 33rd                                 of Beach Park.
                                       Street.
                                      Approximately 700 feet          None         +685
                                       upstream of Lewis
                                       Avenue.

Bull Creek North Branch.............  Approximately 1,600             None         +613  City of Waukegan, City
                                       feet downstream of                                 of Zion, Village of
                                       Wadsworth Road.                                    Beach Park.
                                      Approximately 200 feet          None         +683
                                       upstream of Lewis
                                       Avenue.
Glen Flora Tributary................  Approximately 540 feet          None         +585  City of Waukegan.
                                       upstream of Pond Loop
                                       Road.
                                      Approximately 0.51 mile         None         +642
                                       upstream of Sheridan
                                       Road.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
** BFEs to be changed include the listed downstream and upstream BFEs, and include BFEs located on the stream
 reach between the referenced locations above. Please refer to the revised Flood Insurance Rate Map located at
 the community map repository (see below) for exact locations of all BFEs to be changed.

Send comments to Luis Rodriguez, Chief, Engineering Management Branch, Federal Insurance and Mitigation
 Administration, Federal Emergency Management Agency, 500 C Street, SW., Washington, DC 20472.

                                                    ADDRESSES
City of Waukegan
Maps are available for inspection at City Hall, 100 North Martin Luther King Jr. Avenue, Waukegan, IL 60085.

City of Zion
Maps are available for inspection at City Hall, 2828 Sheridan Road, Zion, IL 60099.

                                       Unincorporated Areas of Lake County
Maps are available for inspection at the Lake County Courthouse, 18 North County Street, Waukegan, IL 60085.

Village of Beach Park
Maps are available for inspection at the Village Hall, 11270 West Wadsworth Road, Beach Park, IL 60099.
----------------------------------------------------------------------------------------------------------------
                                Bossier Parish, Louisiana, and Incorporated Areas
----------------------------------------------------------------------------------------------------------------
Flat River..........................  Approximately 2.0 miles         +154         +153  City of Bossier City,
                                       downstream of State                                Unincorporated Areas
                                       Route 527.                                         of Bossier Parish.
                                      Approximately 0.42 mile         +156         +155
                                       downstream of State
                                       Route 612 (Sligo Road).
Red Chute Bayou.....................  At Smith Road..........         +154         +153  Unincorporated Areas of
                                                                                Bossier Parish.
Approximately 1,125 feet downstream   +156...................         +157
 of State Route 612 (Sligo Road).
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
** BFEs to be changed include the listed downstream and upstream BFEs, and include BFEs located on the stream
 reach between the referenced locations above. Please refer to the revised Flood Insurance Rate Map located at
 the community map repository (see below) for exact locations of all BFEs to be changed.

Send comments to Luis Rodriguez, Chief, Engineering Management Branch, Federal Insurance and Mitigation
 Administration, Federal Emergency Management Agency, 500 C Street, SW., Washington, DC 20472.

                                                    ADDRESSES
City of Bossier City
Maps are available for inspection at City Hall, 620 Benton Road, Bossier City, LA 71171.

                                     Unincorporated Areas of Bossier Parish
Maps are available for inspection at the Bossier Parish Courthouse, 204 Burt Boulevard, Benton, LA 71006.
----------------------------------------------------------------------------------------------------------------
                                Madison Parish, Louisiana, and Incorporated Areas
----------------------------------------------------------------------------------------------------------------
Brushy Bayou........................  At the downstream side          None          +80  City of Tallulah,
                                       of I-20.                                           Village of Richmond.
                                      At the upstream side of         None          +81
                                       I-20.

Cypress Bayou.......................  Approximately 0.7 mile          None          +81  Village of Delta,
                                       downstream of I-20.                                Village of Mound.
                                      Approximately 428 feet          None          +85
                                       upstream of U.S. Route
                                       80.
Ditch L-7CC-1.......................  Approximately 682 feet          None          +77  City of Tallulah,
                                       upstream of the Lower                              Unincorporated Areas
                                       Roundaway Bayou                                    of Madison Parish,
                                       confluence.                                        Village of Richmond.
                                      At the downstream side          None          +83
                                       of State Route 601.
Ditch L-7CC-2.......................  Approximately 440 feet           +77          +78  Unincorporated Areas of
                                       downstream of I-20.                                Madison Parish,
                                                                                Village of Richmond.
                                      At the downstream side          None          +78
                                       of Burnside Road.
Mississippi River...................  Approximately 0.9 mile          None         +102  Village of Delta.
                                       downstream of I-20.
                                      Approximately 2.0 miles         None         +103
                                       upstream of I-20.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
** BFEs to be changed include the listed downstream and upstream BFEs, and include BFEs located on the stream
 reach between the referenced locations above. Please refer to the revised Flood Insurance Rate Map located at
 the community map repository (see below) for exact locations of all BFEs to be changed.

Send comments to Luis Rodriguez, Chief, Engineering Management Branch, Federal Insurance and Mitigation
 Administration, Federal Emergency Management Agency, 500 C Street, SW., Washington, DC 20472.

                                                    ADDRESSES
City of Tallulah
Maps are available for inspection at 204 North Cedar Street, Tallulah, LA 71282.

                                     Unincorporated Areas of Madison Parish
Maps are available for inspection at 100 North Cedar Street, Tallulah, LA 71282.

Village of Delta
Maps are available for inspection at 200 1st Street, Delta, LA 71233.

Village of Mound
Maps are available for inspection at 100 North Cedar Street, Tallulah, LA 71282.

Village of Richmond
Maps are available for inspection at 598 Wood Street, Richmond, LA 71282.
----------------------------------------------------------------------------------------------------------------
                              Bernalillo County, New Mexico, and Incorporated Areas
----------------------------------------------------------------------------------------------------------------
Basketball Pond.....................  Entire shoreline.......         None        +5421  City of Albuquerque.
Glenrio Storm Drain (Shallow ponding  Entire shoreline.......         None        +5095  City of Albuquerque.
 area at the intersection of
 Palisades Drive Northwest and
 Glenrio Drive Northwest).
Glenrio Storm Drain.................  Approximately 650 feet          None        +5095  City of Albuquerque.
                                       downstream of the
                                       intersection of
                                       Hanover Road Northwest
                                       and 54th Street
                                       Northwest.
                                      At the intersection of          None        +5095
                                       56th Street Northwest
                                       and Hanover Road
                                       Northwest.
Kirtland Detention Pond.............  Entire shoreline.......         None        +5359  City of Albuquerque.
McKnight Storm Drain................  Sheet flow area between   1   3  City of Albuquerque.
                                       Cyndi Court Northeast
                                       and Embudo Channel.
Shallow ponding area southeast of     Entire shoreline.......        +5001        +4997  Unincorporated Areas of
 the intersection of Alameda                                                              Bernalillo County.
 Boulevard Northwest and the
 Albuquerque Main Line Canal.
Sheet Flow along Candelaria Avenue,   Sheet flow area along           None   1  City of Albuquerque.
 Northeast.                            Candelaria Avenue,
                                       Northeast between
                                       Vermont Street
                                       Northeast and
                                       Louisiana Boulevard
                                       Northeast.

Sheet Flow between San Mateo          At the intersection of          None   1  City of Albuquerque.
 Boulevard Southeast and Gibson        San Mateo Boulevard
 Boulevard Southeast.                  Southeast and Kathryn
                                       Avenue, Southeast.
                                      At the intersection of          None   1
                                       Gibson Boulevard
                                       Southeast and Cardenas
                                       Drive Southeast.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
** BFEs to be changed include the listed downstream and upstream BFEs, and include BFEs located on the stream
 reach between the referenced locations above. Please refer to the revised Flood Insurance Rate Map located at
 the community map repository (see below) for exact locations of all BFEs to be changed.

Send comments to Luis Rodriguez, Chief, Engineering Management Branch, Federal Insurance and Mitigation
 Administration, Federal Emergency Management Agency, 500 C Street, SW., Washington, DC 20472.

                                                    ADDRESSES
City of Albuquerque
Maps are available for inspection at the Planning Department, Development and Building Services Division, 600
 2nd Street Northwest, Albuquerque, NM 87103.

Unincorporated Areas of Bernalillo County
Maps are available for inspection at the Bernalillo County Public Works Division, 2400 Broadway Southeast,
 Albuquerque, NM 87102.
----------------------------------------------------------------------------------------------------------------

                               Santa Fe County, New Mexico, and Incorporated Areas
----------------------------------------------------------------------------------------------------------------
Arroyo Barranca.....................  Approximately 100 feet          None        +7022  City of Santa Fe.
                                       upstream of the Arroyo
                                       Mascaras confluence.
                                      Approximately 100 feet          None        +7338
                                       upstream of Camino Del
                                       Norte.
Arroyo De La Paz....................  At the Arroyo De Los            None        +6722  City of Santa Fe.
                                       Antores confluence.
                                      Approximately 1,000             None        +6802
                                       feet upstream of Rodeo
                                       Road.
Arroyo De La Piedra.................  Approximately 300 feet         +7099        +7103  City of Santa Fe.
                                       downstream of
                                       Vallecita Drive.
                                      Approximately 1,400             None        +7435
                                       feet upstream of
                                       Barranca Drive.
Arroyo De Los Amigos................  Approximately 100 feet          None        +6852  City of Santa Fe.
                                       upstream of the Arroyo
                                       De Los Chamisos
                                       confluence.
                                      Approximately 1,400             None        +7016
                                       feet upstream of Saint
                                       Michaels Drive.
Arroyo De Los Antores...............  Approximately 200 feet          None        +6701  City of Santa Fe.
                                       upstream of the Arroyo
                                       De Los Chamisos
                                       confluence.
                                      Approximately 600 feet          None        +6738
                                       upstream of Zia Road.
Arroyo De Los Antores Ponding Area..  Entire shoreline.......         None        +6750  City of Santa Fe.
Arroyo De Los Antores Sheet Flow....  Sheet flow areas along          None   1  City of Santa Fe.
                                       the Arroyo De Los
                                       Antores (Lowest Flood
                                       Depth).
                                      Sheet flow areas along          None   2
                                       the Arroyo De Los
                                       Antores (Highest Flood
                                       Depth).
Arroyo En Medio.....................  Approximately 500 feet          None        +6754  City of Santa Fe,
                                       upstream of the Arroyo                             Unincorporated Areas
                                       De Los Chamisos                                    of Santa Fe County.
                                       confluence.
                                      Approximately 1,200             None        +7510
                                       feet upstream of
                                       Cloudstone Drive.
Arroyo Hondo........................  At the Arroyo De Los            None        +6098  City of Santa Fe,
                                       Chamisos confluence.                               Unincorporated Areas
                                                                                of Santa Fe County.
                                      Approximately 70 feet           None        +7428
                                       upstream of County
                                       Road 67F.
Arroyo Hondo Split Flow.............  Approximately 0.7 mile          None        +6400  Unincorporated Areas of
                                       upstream of Rancho                                 Santa Fe County.
                                       Viejo Boulevard.
                                      Approximately 1.8 miles         None        +6483
                                       upstream of Arroyo
                                       Viejo Road.
Arroyo Ranchito.....................  Approximately 150 feet          None        +7043  City of Santa Fe.
                                       upstream of the Arroyo
                                       De La Piedra
                                       confluence.
                                      Approximately 600 feet          None        +7320
                                       upstream of Camino
                                       Encantado.
Arroyo Saiz.........................  At the upstream side of         None        +7191  City of Santa Fe.
                                       Avenida Primera.
                                      Approximately 0.6 mile          None        +7339
                                       upstream of Avenida
                                       Primera.

Big Tesuque Creek...................  At the Rio Tesuque              None        +6930  Unincorporated Areas of
                                       confluence.                                        Santa Fe County.
                                      Approximately 1.0 mile          None        +7234
                                       upstream of County
                                       Road 72A.
Canada Ancha........................  Approximately 0.4 mile         +7193        +7194  City of Santa Fe,
                                       upstream of the Santa                              Unincorporated Areas
                                       Fe River confluence.                               of Santa Fe County.
                                      Approximately 0.3 mile          None        +7780
                                       upstream of La Entrada.
East Arroyo De La Piedra............  At the Arroyo De La             None        +7199  City of Santa Fe.
                                       Piedra confluence.
                                      Approximately 0.7 mile          None        +7585
                                       upstream of Calle
                                       Conejo.
Little Tesuque Creek................  At the Rio Tesuque              None        +6930  Unincorporated Areas of
                                       confluence.                                        Santa Fe County.
                                      Approximately 100 feet          None        +7140
                                       upstream of Bishops
                                       Lodge Road.
Northeast Arroyo De Los Pinos.......  Approximately 80 feet           None        +6828  City of Santa Fe.
                                       upstream of 6th Street.
                                      Approximately 1,100             None        +6955
                                       feet upstream of Luisa
                                       Street.
Rio Tesuque.........................  Approximately 0.5 mile          None        +6693  Pueblo of Tesuque,
                                       downstream of Tesuque                              Unincorporated Areas
                                       Village Road.                                      of Santa Fe County.
                                      At the Big Tesuque              None        +6930
                                       Creek and Little
                                       Tesuque Creek
                                       confluence.
Santa Cruz River....................  Approximately 1,000            +5671        +5670  City of Espanola, Santa
                                       feet downstream of                                 Clara Indian
                                       State Route 106.                                   Reservation,
                                                                                Unincorporated Areas
                                                                                of Santa Fe County.
                                      Approximately 0.5 mile         +5701        +5702
                                       upstream of State
                                       Route 106.
Unnamed Stream 31...................  At the Rio Tesuque              None        +6741  City of Santa Fe,
                                       confluence.                                        Unincorporated Areas
                                                                                of Santa Fe County.
                                      Approximately 500 feet          None        +7105
                                       upstream of Sangre De
                                       Cristo Drive.
----------------------------------------------------------------------------------------------------------------
* National Geodetic Vertical Datum.
+ North American Vertical Datum.
 Depth in feet above ground.
[caret] Mean Sea Level, rounded to the nearest 0.1 meter.
** BFEs to be changed include the listed downstream and upstream BFEs, and include BFEs located on the stream
 reach between the referenced locations above. Please refer to the revised Flood Insurance Rate Map located at
 the community map repository (see below) for exact locations of all BFEs to be changed.

Send comments to Luis Rodriguez, Chief, Engineering Management Branch, Federal Insurance and Mitigation
 Administration, Federal Emergency Management Agency, 500 C Street, SW., Washington, DC 20472.

                                                    ADDRESSES
City of Espanola
Maps are available for inspection at City Hall, 405 North Paseo de Onate, Espanola, NM 87532.

City of Santa Fe
Maps are available for inspection at City Hall, 200 Lincoln Avenue, Santa Fe, NM 87504.

Pueblo of Tesuque
Maps are available for inspection at the Pueblo of Tesuque Governor's Office, TP 804 Building 4, Santa Fe, NM
 87506.

Santa Clara Indian Reservation
Maps are available for inspection at the Santa Clara Indian Reservation Governor's Office, 1 Kee Street,
 Espanola, NM 87532.

Unincorporated Areas of Santa Fe County
Maps are available for inspection at the Santa Fe County Building, 102 Grant Avenue, Santa Fe, NM 87504.
----------------------------------------------------------------------------------------------------------------

(Catalog of Federal Domestic Assistance No. 97.022, ``Flood
Insurance.'')

    Dated: June 15, 2011.
Sandra K. Knight,
Deputy Federal Insurance and Mitigation Administrator, Mitigation,
Department of Homeland Security, Federal Emergency Management Agency.
[FR Doc. 2011-16640 Filed 7-1-11; 8:45 am]
BILLING CODE 9110-12-P


[Federal Register Volume 87, Number 202 (Thursday, October 20, 2022)]
[Notices]
[Pages 63834-63837]
[FR Doc No: 2022-22734]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-96082; File No. SR-NYSEAMER-2022-49]

Self-Regulatory Organizations; NYSE American LLC; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Modify
the NYSE American Options Fee Schedule

October 14, 2022.
    Pursuant to FR 19(b)(1) \1\ of the Securities Exchange Act of 1934
(``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on October 13, 2022, NYSE American LLC (``NYSE American'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to modify the NYSE American Options Fee
Schedule (``Fee Schedule'') regarding credits for Floor Broker
Qualified Contingent Cross (``QCC'') transactions. The Exchange
proposes to implement the fee change effective October 13, 2022.\4\ The
proposed rule change is available on the Exchange's website at
www.nyse.com, at the principal office of the Exchange, and at the
Commission's Public Reference Room.
---------------------------------------------------------------------------

    \4\ The Exchange originally filed to amend the Fee Schedule on
October 3, 2022 (SR-NYSEAmer-2022-47) and withdrew such filing on
October 13, 2022.
---------------------------------------------------------------------------

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

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

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

1. Purpose
    The purpose of this filing to amend the Fee Schedule to modify the
credits available to Floor Brokers for QCC transactions.\5\ The
Exchange proposes to implement the rule change on October 13, 2022.
---------------------------------------------------------------------------

    \5\ A QCC is defined as an originating order to buy or sell at
least 1,000 contracts, or 10,000 mini-options contracts, that is
identified as being part of a qualified contingent trade (as that
term is defined in Commentary .01 to Rule 900.3NY), coupled with a
contra side order or orders totaling an equal number of contracts.
See Rule 900.3NY(y).
---------------------------------------------------------------------------

    Currently, Floor Brokers earn a credit for executed QCC orders of
($0.08) per contract for the first 300,000 contracts or ($0.11) per
contract in excess of 300,000.\6\ The Exchange currently limits the
maximum Floor Broker credit to $525,000 per month per Floor Broker
firm.\7\ QCC executions in which a Customer or Professional Customer,
or both, is on both sides of the QCC trade are not eligible for the
Floor Broker credit, and the Floor Broker credit is paid only on volume
within the applicable tier and is not retroactive to the first contract
traded.\8\
---------------------------------------------------------------------------

    \6\ See Fee Schedule, FR I.F., QCC Fees and Credits, available
here, https://www.nyse.com/publicdocs/nyse/markets/american-options/NYSE_American_Options_Fee_Schedule.pdf.
    \7\ See id., FR 1.F. Footnote 1.
    \8\ See id.
---------------------------------------------------------------------------

    The Exchange now proposes to increase the number of contracts per
month a Floor Broker must execute to earn the higher of the two QCC
credits available to Floor Brokers, as well as the amounts of both of
the credits available to Floor Brokers for executed QCC orders.
Specifically, the Exchange proposes that Floor Brokers may earn a
credit of ($0.11) per contract for the first 500,000 contracts and a
credit of ($0.14) per contract on all contracts above 500,000 in a
month.

    Although the Exchange cannot predict with certainty whether the
proposed change would encourage Floor Brokers to increase their QCC
volume, the Exchange believes that the proposed change, although it
increases the required number of contracts to qualify for the greater
of the two available Floor Broker QCC credits, would continue to incent
additional QCC executions by Floor Brokers by increasing the amounts of
the credits available on all such orders, and all Floor Brokers are
eligible to qualify for the proposed credits.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with FR 6(b) of the Act,\9\ in general, and furthers the objectives of
FRs 6(b)(4) and (5) of the Act,\10\ in particular, because it provides
for the equitable allocation of reasonable dues, fees, and other
charges among its members, issuers and other persons using its
facilities and does not unfairly discriminate between customers,
issuers, brokers or dealers.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

The Proposed Rule Change Is Reasonable
    The Exchange operates in a highly competitive market. The
Commission has repeatedly expressed its preference for competition over
regulatory intervention in determining prices, products, and services
in the securities markets. In Regulation NMS, the Commission
highlighted the importance of market forces in determining prices and
SRO revenues and, also, recognized that current regulation of the
market system ``has been remarkably successful in promoting market
competition in its broader forms that are most important to investors
and listed companies.'' \11\
---------------------------------------------------------------------------

    \11\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496, 37499 (June 29, 2005) (S7-10-04) (``Reg NMS
Adopting Release'').
---------------------------------------------------------------------------

    There are currently 16 registered options exchanges competing for
order flow. Based on publicly-available information, and excluding
index-based options, no single exchange has more than 16% of the market
share of executed volume of multiply-listed equity and ETF options
trades.\12\ Therefore, no exchange possesses significant pricing power
in the execution of multiply-listed equity and ETF options order flow.
More specifically, in August 2022, the Exchange had less than 8% market
share of executed volume of multiply-listed equity and ETF options
trades.\13\
---------------------------------------------------------------------------

    \12\ The OCC publishes options and futures volume in a variety
of formats, including daily and monthly volume by exchange,
available here: https://www.theocc.com/Market-Data/Market-Data-Reports/Volume-and-Open-Interest/Monthly-Weekly-Volume-Statistics.
    \13\ Based on a compilation of OCC data for monthly volume of
equity-based options and monthly volume of ETF-based options, see
id., the Exchange's market share in equity-based options was 7.56%
for the month of August 2021 and 7.57% for the month of August 2022.
---------------------------------------------------------------------------

    The Exchange believes that the ever-shifting market share among the
exchanges from month to month demonstrates that market participants can
shift order flow, or discontinue or reduce use of certain categories of
products, in response to fee changes. Accordingly, competitive forces
constrain options exchange transaction fees. Stated otherwise, changes
to exchange transaction fees can have a direct effect on the ability of
an exchange to compete for order flow.
    To respond to this competitive marketplace, the Exchange has
established incentives to assist Floor Brokers in attracting more
business to the Exchange--including credits on QCC transactions--as
such participants serve an important function in facilitating the
execution of orders on the Exchange, thereby promoting price discovery
on the public markets.
    The Exchange believes that the proposed modification of the credits
offered to Floor Brokers on QCC transactions is reasonable because it
is designed to continue to incent Floor Brokers to increase the number
of QCC transactions sent to the Exchange. To the extent that the
proposed change attracts more volume to the Exchange, this increased
order flow would continue to make the Exchange a more competitive venue
for order execution, which, in turn, promotes just and equitable
principles of trade and removes impediments to and perfects the
mechanism of a free and open market and a national market system. The
Exchange notes that all market participants stand to benefit from any
increase in volume by Floor Brokers, which could promote market depth,
facilitate tighter spreads and enhance price discovery, to the extent
the proposed change encourages Floor Brokers to utilize the Exchange as
a primary trading venue, and may lead to a corresponding increase in
order flow from other market participants. In addition, any increased
liquidity on the Exchange would result in enhanced market quality for
all participants.
    Finally, to the extent the proposed change continues to attract
greater volume and liquidity, the Exchange believes the proposed change
would improve the Exchange's overall competitiveness and strengthen its
market quality for all market participants. In the backdrop of the
competitive environment in which the Exchange operates, the proposed
rule change is a reasonable attempt by the Exchange to increase the
depth of its market and improve its market share relative to its
competitors. The Exchange's fees are constrained by intermarket
competition, as Floor Brokers may direct their order flow to any of the
16 options exchanges, including those offering rebates on QCC
orders.\14\ Thus, Floor Brokers have a choice of where they direct
their order flow, including their QCC transactions. The proposed rule
change is designed to continue to incent Floor Brokers to direct
liquidity (and, in particular, QCC orders) to the Exchange; to the
extent Floor Brokers are incentivized to aggregate their trading
activity at the Exchange, that increased liquidity could promote market
depth, price discovery and improvement, and enhanced order execution
opportunities for market participants.
---------------------------------------------------------------------------

    \14\ See, e.g., Nasdaq PHLX, Options 7, FR 4, QCC Rebate
Schedule (offering rebates on QCC transactions of ($0.09) per
contract on up to 999,999 contracts in a month and ($0.17) per
contract on 1,000,000 contracts or more in a month); see also EDGX
Options Exchange Fee Schedule, QCC Initiator/Solicitation Rebate
Tiers (applying ($0.14) per contract rebate up to 999,999 contracts
for QCC transactions when only one side of the transaction is a non-
customer); BOX Options Fee Schedule at FR IV.D.1. (QCC Rebate)
(providing for ($0.14) per contract rebate up to 1,499,999 contracts
for QCC transactions when only one side of the QCC transaction is a
broker-dealer or market maker); Nasdaq ISE, Options 7, FR 6.B. (QCC
Rebate) (offering rebates on QCC transactions of ($0.14) per
contract when only one side of the QCC transaction is a non-
customer).
---------------------------------------------------------------------------

The Proposed Rule Change Is an Equitable Allocation of Credits and Fees
    The Exchange believes the proposed rule change is an equitable
allocation of its fees and credits. The proposal is based on the amount
and type of business transacted on the Exchange, and Floor Brokers can
attempt to trade QCC orders to earn the increased credits or not. In
addition, the proposed credits are available to all Floor Brokers
equally. The Exchange also believes that the proposed credits are an
equitable allocation of fees and credits because they would encourage
and support Floor Brokers' role in facilitating the execution of orders
on the Exchange, and to the extent the proposed credits continue to
incent Floor Brokers to direct increased liquidity to the Exchange, all
market participants would benefit from enhanced opportunities for price
improvement and order execution.
    Moreover, the proposed credits are designed to continue to incent
Floor Brokers to encourage OTP Holders to

aggregate their executions--including QCC transactions--at the Exchange
as a primary execution venue. To the extent that the proposed change
achieves its purpose in attracting more Floor Broker volume to the
Exchange, this increased order flow would continue to make the Exchange
a more competitive venue for, among other things, order execution.
Thus, the Exchange believes the proposed rule change would improve
market quality for all market participants on the Exchange and, as a
consequence, attract more order flow to the Exchange, thereby improving
market-wide quality and price discovery.
The Proposed Rule Change Is Not Unfairly Discriminatory
    The Exchange believes it is not unfairly discriminatory to modify
the credits offered to Floor Brokers on QCC orders because the proposed
credits would be available to all similarly-situated Floor Brokers on
an equal and non-discriminatory basis. The proposed credits are also
not unfairly discriminatory to non-Floor Brokers because Floor Brokers
serve an important function in facilitating the execution of orders on
the Exchange, which the Exchange wishes to encourage and support to
promote price improvement opportunities for all market participants.
    The proposal is based on the amount and type of business transacted
on the Exchange, and Floor Brokers are not obligated to execute QCC
orders. Rather, the proposal is designed to encourage Floor Brokers to
utilize the Exchange as a primary trading venue for all transactions
(if they have not done so previously) and increase QCC volume sent to
the Exchange. To the extent that the proposed change attracts more QCC
orders to the Exchange, this increased order flow would continue to
make the Exchange a more competitive venue for order execution. Thus,
the Exchange believes the proposed rule change would improve market
quality for all market participants on the Exchange and, as a
consequence, attract more order flow to the Exchange, thereby improving
market-wide quality and price discovery. The resulting increased volume
and liquidity would provide more trading opportunities and tighter
spreads to all market participants and thus would promote just and
equitable principles of trade, remove impediments to and perfect the
mechanism of a free and open market and a national market system and,
in general, protect investors and the public interest.
    Finally, the Exchange believes that it is subject to significant
competitive forces, as described below in the Exchange's statement
regarding the burden on competition.

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

    In accordance with FR 6(b)(8) of the Act, the Exchange does not
believe that the proposed rule change would impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. Instead, as discussed above, the Exchange believes
that the proposed changes would encourage the submission of additional
liquidity to a public exchange, thereby promoting market depth, price
discovery and transparency and enhancing order execution opportunities
for all market participants. As a result, the Exchange believes that
the proposed change furthers the Commission's goal in adopting
Regulation NMS of fostering integrated competition among orders, which
promotes ``more efficient pricing of individual stocks for all types of
orders, large and small.'' \15\
---------------------------------------------------------------------------

    \15\ See Reg NMS Adopting Release, supra note 11, at 37499.
---------------------------------------------------------------------------

    Intramarket Competition. The proposed increased credits are
designed to attract additional order flow to the Exchange (particularly
in Floor Brokers' QCC transactions), which could increase the volumes
of contracts traded on the Exchange. Greater liquidity benefits all
market participants on the Exchange, and increased QCC transactions
could increase opportunities for execution of other trading interest.
The proposed credits would be available to all similarly-situated Floor
Brokers that execute QCC trades, and to the extent that there is an
additional competitive burden on non-Floor Brokers, the Exchange
believes that any such burden would be appropriate because Floor
Brokers serve an important function in facilitating the execution of
orders and price discovery for all market participants.
    Intermarket Competition. The Exchange operates in a highly
competitive market in which market participants can readily favor one
of the 16 competing option exchanges if they deem fee levels at a
particular venue to be excessive. In such an environment, the Exchange
must continually adjust its fees to remain competitive with other
exchanges and to attract order flow to the Exchange. Based on publicly-
available information, and excluding index-based options, no single
exchange has more than 16% of the market share of executed volume of
multiply-listed equity and ETF options trades.\16\ Therefore, no
exchange possesses significant pricing power in the execution of
multiply-listed equity and ETF options order flow. More specifically,
in August 2022, the Exchange had less than 8% market share of executed
volume of multiply-listed equity and ETF options trades.\17\
---------------------------------------------------------------------------

    \16\ See note 12, supra.
    \17\ See note 13, supra.
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change reflects this
competitive environment because it modifies the Exchange's fees in a
manner designed to continue to incent Floor Brokers to direct trading
interest (particularly QCC transactions) to the Exchange, to provide
liquidity and to attract order flow. To the extent that Floor Brokers
are incentivized to utilize the Exchange as a primary trading venue for
all transactions, all of the Exchange's market participants should
benefit from the improved market quality and increased opportunities
for price improvement. The Exchange notes that it operates in a highly
competitive market in which market participants can readily favor
competing venues. In such an environment, the Exchange must continually
review, and consider adjusting, its fees and credits to remain
competitive with other exchanges. For the reasons described above, the
Exchange believes that the proposed rule change reflects this
competitive environment.
    The Exchange further believes that the proposed change could
promote competition between the Exchange and other execution venues,
including those that currently offer rebates on QCC transactions,\18\
by encouraging additional orders (and, in particular, QCC orders) to be
sent to the Exchange for execution.
---------------------------------------------------------------------------

    \18\ See note 14, supra.
---------------------------------------------------------------------------

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

    The foregoing rule change is effective upon filing pursuant to FR
19(b)(3)(A) \19\ of the Act and subparagraph (f)(2) of Rule 19b-4 \20\
thereunder, because it

establishes a due, fee, or other charge imposed by the Exchange.
---------------------------------------------------------------------------

    \19\ 15 U.S.C. 78s(b)(3)(A).
    \20\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of such 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 under FR
19(b)(2)(B) \21\ of the Act to determine whether the proposed rule
change should be approved or disapproved.
---------------------------------------------------------------------------

    \21\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

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-NYSEAMER-2022-49 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-NYSEAMER-2022-49. 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-NYSEAMER-2022-49, and should be
submitted on or before November 10, 2022.
---------------------------------------------------------------------------

    \22\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-22734 Filed 10-19-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 29 (Thursday, February 12, 2015)]
[Notices]
[Pages 7894-7897]
[FR Doc No: 2015-02893]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74220; File No. SR-NYSEMKT-2015-08]

Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed Rule Change To Include Internet
Protocol Network Connections and Fiber Cross Connects Between a User's
Cabinet and Non-User's Equipment as Co-Location Services

February 6, 2015.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that on January 26, 2015, NYSE MKT LLC (the ``Exchange'' or
``NYSE MKT'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend its rules to provide that the co-
location services offered by the Exchange include 1 gigabit (``Gb'')
and 10 Gb internet protocol (``IP'') network connections in the
Exchange's data center and fiber cross connects (``cross connects'')
between a Users' [sic] cabinet and non-User's equipment. In addition,
the proposed rule change reflects changes to the NYSE MKT Equities
Price List (``Price List'') and the NYSE Amex Options Fee Schedule
(``Fee Schedule'') related to these co-location services. The text of
the proposed rule change is available on the Exchange's Web site at
www.nyse.com, at the principal office of the Exchange, and at the
Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to change its rules to provide that the co-
location \4\ services offered by the Exchange include 1 Gb and 10 Gb IP
network connections in the Exchange's data center and cross connects
between a User's cabinet and non-User's equipment. In addition, this
proposed rule change reflects changes to the Price List and the Fee
Schedule related to these co-location services.\5\
---------------------------------------------------------------------------

    \4\ The Exchange initially filed rule changes relating to its
co-location services with the Securities and Exchange Commission
(``Commission'') in 2010. See Securities Exchange Act Release No.
62961 (September 21, 2010), 75 FR 59299 (September 27, 2010) (SR-
NYSEAmex-2010-80) (the ``Original Co-location Filing''). The
Exchange operates a data center in Mahwah, New Jersey (the ``data
center'') from which it provides co-location services to Users.
    \5\ For purposes of the Exchange's co-location services, the
term ``User'' includes (i) member organizations, as that term is
defined in the definitions section of the General and Floor Rules of
the NYSE MKT Equities Rules, and ATP Holders, as that term is
defined in NYSE Amex Options Rule 900.2NY(5); (ii) Sponsored
Participants, as that term is defined in Rule 123B.30(a)(ii)(B)--
Equities and NYSE Amex Options Rule 900.2NY(77); and (iii) non-
member organization and non-ATP Holder broker-dealers and vendors
that request to receive co-location services directly from the
Exchange. See, e.g., Securities Exchange Act Release Nos. 65974
(December 15, 2011), 76 FR 79249 (December 21, 2011) (SR-NYSEAmex-
2011-81) and 65975 (December 15, 2011), 76 FR 79233 (December 21,
2011) (SR-NYSEAmex-2011-82). As specified in the Price List and the
Fee Schedule, a User that incurs co-location fees for a particular
co-location service pursuant thereto would not be subject to co-
location fees for the same co-location service charged by the
Exchange's affiliates New York Stock Exchange LLC and NYSE Arca,
Inc. See Securities Exchange Act Release No. 70176 (August 13,
2013), 78 FR 50471 (August 19, 2013) (SR-NYSEMKT-2013-67).
---------------------------------------------------------------------------

IP Network Connections
    The Exchange offers Users access to the Exchange's Liquidity Center
Network (``LCN''), a local area network available in the data
center.\6\ The LCN provides Users with access to the Exchange's trading
and execution systems and to the Exchange's proprietary market data
products.
---------------------------------------------------------------------------

    \6\ See Original Co-location Filing, at 59299. See also
Securities Exchange Act Release No. 67665 (August 15, 2012), 77 FR
50734 (August 22, 2012) (SR-NYSEMKT-2012-11) (``August 2012 Rule
Change'').
---------------------------------------------------------------------------

    This proposed rule change would provide that Users may also
purchase access to the IP network, a second local area network
available in the Exchange's data center. Like the LCN, the IP network
provides Users with access to the Exchange's trading and execution
systems and to the Exchanges' proprietary market data products. The IP
network also provides Users with access to away market data products.
There is greater latency in the transmission of data between Users and
the Exchange for the IP Network than for the LCN.
    A User is currently able to select from two ``bundled''
connectivity options, at 1 Gb and 10 Gb, when connecting to the data
center.\7\ Both options include two connections referred to as ``SFTI''
connections. These bundled ``SFTI'' connections are IP network
connections; the reference to ``SFTI'' is a reflection of the fact that
the IP network is sometimes referred to as the ``SFTI IP'' network. To
conform the references to the IP network in the Price List and the Fee
Schedule, the Exchange proposes to revise the description of the
bundled connectivity options to remove the reference to ``SFTI'' and
update it to ``IP network.''
---------------------------------------------------------------------------

    \7\ See Securities Exchange Act Release No. 72719 (July 30,
2014), 79 FR 45502 (August 5, 2014) (SR-NYSEMKT-2014-61).
---------------------------------------------------------------------------

    In addition, the Exchange proposes to change its rules to provide
that the co-location services offered by the Exchange include 1 Gb and
10 Gb IP network connections in the Exchange's data center.\8\ The
Exchange also proposes to revise its Price List and the Fee Schedule to
reflect fees related to these IP network connections as follows:
---------------------------------------------------------------------------

    \8\ The Exchange makes an IP network circuit available to Users
for testing and certification purposes at no charge. Such circuit
can only be used for testing and certification and is limited to
three months. The Exchange proposes to add language to the Price
List to include this practice.

------------------------------------------------------------------------
        Type of service            Description        Amount of charge
------------------------------------------------------------------------
IP Network Access.............  1 Gb Circuit.....  $2,500 per connection
                                                    initial charge plus
                                                    $2,500 monthly per
                                                    connection.

IP Network Access.............  10 Gb Circuit....  $10,000 per
                                                    connection initial
                                                    charge plus $10,000
                                                    monthly per
                                                    connection.
------------------------------------------------------------------------

    By comparison, the 1 Gb LCN circuit costs $6,000 per connection
initial charge plus $5,000 monthly per connection. The 10 Gb LCN
circuit costs $10,000 per connection initial charge plus $12,000
monthly per connection, while the LCN 10 Gb LX, a second LCN option
that has a lower latency than the 10 Gb LCN circuit, costs $15,000 per
connection initial charge plus $20,000 monthly per connection.\9\
---------------------------------------------------------------------------

    \9\ See Securities Exchange Act Release No. 70886 (November 15,
2013), 78 FR 69904 (November 21, 2013) (SR-NYSEMKT-2013-92).
---------------------------------------------------------------------------

    The IP network provides Users that do not need the lower latency of
the LCN with a less costly data center network option. Having another
data center network also provides Users with the option to create
redundancy in their infrastructure. The offering of either a 1 Gb or 10
Gb IP network connection provides Users more choices regarding the
bandwidth of their network connections.
Cross Connects
    Cross connects are fiber connections used to connect cabinets
within the data center. Cross connects may be used between a User's own
cabinets or between its cabinet(s) and those of another User.\10\ A
cross connect may be used to connect cabinets of separate Users when,
for example, a User receives technical support, order routing and/or
market data delivery services from another User in the data center. A
User is able to purchase cross connects individually or in bundles
(i.e., multiple cross connects within a single sheath) of six, 12, 18
or 24 cross connects.
---------------------------------------------------------------------------

    \10\ The Commission approved the fee for cross connects between
a single User's cabinets within the data center in the Original Co-
Location Filing. See Original Co-Location Filing, at 59299. The use
of cross connects was subsequently revised to allow each User to
purchase cross connects between its cabinet(s) and the cabinets of
separate Users. See August 2012 Rule Change, at 50735.
---------------------------------------------------------------------------

    The Exchange proposes to amend the Price List and the Fee Schedule
for individual and bundled cross connects to include cross-connects
between a User's cabinet and a non-User's equipment within the data
center. Non-Users with equipment in the data center include the
Exchange and third-party carriers. For example, a User may utilize a
cross connect with a non-User to connect to a carrier's equipment in
order to access the carrier's network outside the data center. Such
cross connects do not provide direct access to the Exchange's trading
and execution systems and do not change the fact that only Users that
are authorized to obtain access to the Exchange trading and execution
systems can do so.
    The Exchange proposes to amend the existing cross connect fee in
the Price List and the Fee Schedule accordingly. Specifically, the
existing Price List and Fee Schedule text that describes cross connects
as being ``between cabinets within the data center'' would be removed.
The existing pricing for individual and bundled cross connects would
not change.
General
    As is the case with all Exchange co-location arrangements, (i)
neither a User nor any of the User's customers would be permitted to
submit orders directly to the Exchange unless such User or customer is
a member organization, a Sponsored Participant or an agent thereof
(e.g., a service bureau providing order entry services); (ii) use of
the co-location services proposed herein would be completely voluntary
and available to all Users on a non-discriminatory basis; \11\ and
(iii) a User would only incur one charge for the particular co-location
service described herein, regardless of whether the User connects only
to the Exchange or to the Exchange and one or both of its
affiliates.\12\
---------------------------------------------------------------------------

    \11\ As is currently the case, Users that receive co-location
services from the Exchange will not receive any means of access to
the Exchange's trading and execution systems that is separate from,
or superior to, that of other Users. In this regard, all orders sent
to the Exchange enter the Exchange's trading and execution systems
through the same order gateway, regardless of whether the sender is
co-located in the data center or not. In addition, co-located Users
do not receive any market data or data service product that is not
available to all Users, although Users that receive co-location
services normally would expect reduced latencies in sending orders
to, and receiving market data from, the Exchange.
    \12\ See SR-NYSEMKT-2013-67, supra note 5 at 50471. The
Exchange's affiliates have also submitted the same proposed rule
change to propose the changes described herein. See SR-NYSE-2015-03
and SR-NYSEArca-2015-01.
---------------------------------------------------------------------------

    The proposed change is not otherwise intended to address any other
issues relating to co-location services and/or related fees, and the
Exchange is not aware of any problems that Users would have in
complying with the proposed change.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\13\ in general, and furthers the
objectives of Sections 6(b)(5) of the Act,\14\ in particular, because
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 regulating,
clearing, settling, processing information with respect to, and
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
and because it is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78f(b).
    \14\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the IP network connections are not
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers because the IP network connections provide an
alternative to Users that do not require the lower latency levels of
the LCN for all of their business operations. Users that do require
lower latency levels for all of their business operations may utilize
only LCN connections. The Exchange believes that this 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 because it provides Users with additional choices
with respect to both the optimal latency and, by including 1 Gb and 10
Gb IP network connection options, the optimal bandwidth option for
their network connections. Having data center networks to choose from
also provides Users with the option to create redundancy in their
infrastructure. In addition, the Exchange believes that the proposed
revision of the description of the bundled connectivity options to
remove the reference to ``SFTI'' and update it to ``IP network''
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 because conforming the references to the IP
network will add clarity to the Price List and the Fee Schedule. The
Exchange believes that providing Users with an IP network circuit
solely for

testing and certification purposes for three months at no charge
protects investors and the public interest because it encourages Users
to conduct testing and certification.
    The Exchange believes that the cross connects between Users and
non-Users are not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers because the proposed change
makes a third use for cross connections available to Users, but Users
that do not require such connections may continue to utilize existing
cross connects as they need. The Exchange believes that this 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 because cross connects between Users' cabinets and
non-Users' equipment assist Users in meeting the growing needs of their
business operations by facilitating connections with non-Users.
    The Exchange also believes that the proposed rule change is
consistent with Section 6(b)(4) of the Act,\15\ in particular, because
it provides for the equitable allocation of reasonable dues, fees, and
other charges among its members, issuers and other persons using its
facilities and does not unfairly discriminate between customers,
issuers, brokers or dealers.
---------------------------------------------------------------------------

    \15\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

    Overall, the Exchange believes that the proposed change is
reasonable because the Exchange proposes to offer the co-location
services described herein (i.e., the IP network connections and
additional cross connects) as a convenience to Users, but in doing so
will incur certain costs, including costs related to the data center
facility, hardware and equipment and costs related to personnel
required for initial installation and monitoring, support and
maintenance of such services. In addition, the Exchange believes that
the proposed revision of the description of the bundled connectivity
options to remove the reference to ``SFTI'' and update it to ``IP
network'' is reasonable because conforming the references to the IP
network will add clarity to the Price List and the Fee Schedule.
    The Exchange believes that the proposed pricing for IP network
connections is reasonable because IP network connections are a more
economical option for certain Users that do not require the lower
latency levels of the LCN for all of their business operations. The
proposed pricing for IP network connections is also reasonable because
it allows Users to select network options that are better suited for
their needs. Some Users do not need lower latency levels for all of
their business operations, and IP network connections provide them the
option to utilize network connections with higher latency levels but
lower fees than the LCN. The availability of 1 Gb and 10 Gb options
allow Users to select the bandwidth option that suits their needs. In
addition, the Exchange believes that the proposed revision of the
description of the bundled connectivity options to remove the reference
to ``SFTI'' and update it to ``IP network'' is reasonable because it
will conform the references to the IP network in the Price List and the
Fee Schedule. The Exchange believes that providing Users with an IP
network circuit solely for testing and certification purposes for three
months at no charge is reasonable because providing the IP network
circuit at no charge encourages Users to conduct testing and
certification.
    The Exchange believes that it is reasonable to charge the same
amount for cross connects regardless of whether the cross connects are
between the cabinets of a single User, between the cabinets of separate
Users or between a User and non-User, because the cross connect
hardware and costs the Exchange incurs are substantially the same in
each case.
    The Exchange believes that the proposed change is equitable and not
unfairly discriminatory because it will result in fees being charged
only to Users that voluntarily select to receive the corresponding
services and because those services will be available to all Users.
Furthermore, the Exchange believes that the services and fees proposed
herein are not unfairly discriminatory and are equitably allocated
because, in addition to the services being completely voluntary, they
are available to all Users on an equal basis (i.e., the same products
and services are available to all Users).
    For the reasons above, the proposed changes do not unfairly
discriminate between or among market participants that are otherwise
capable of satisfying any applicable co-location fees, requirements,
terms and conditions established from time to time by the Exchange.
    Finally, the Exchange believes that it is subject to significant
competitive forces, as described below in the Exchange's statement
regarding the burden on competition.
    For these reasons, the Exchange believes that the proposal is
consistent with the Act.

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

    In accordance with Section 6(b)(8) of the Act,\16\ the Exchange
believes that the proposed rule change will not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act because, in addition to the proposed services being
completely voluntary, they are available to all Users on an equal basis
(i.e. the same products and services are available to all Users).
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

    The Exchange believes that allowing Users to purchase access to the
IP network will not impose any burden on competition that is not
necessary or appropriate in furtherance of the purposes of the Act
because such access will satisfy User demand for more cost-effective,
higher latency connections. The proposed changes also enhance
competition by helping Users tailor their data center network
connections to the growing needs of their business operations and by
adding clarity to the Price List and the Fee Schedule by conforming the
references to the IP network. The Exchange also believes that the cross
connects between Users' cabinets and non-Users' equipment will not
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act because the cross connects
will satisfy User demand for more flexibility in the Users' use of
cross connects. The proposed change also enhances competition by
helping Users tailor their co-located systems to the varying needs of
their business operations.
    Finally, 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. In such an environment, the Exchange must continually
review, and consider adjusting, its services and related fees and
credits to remain competitive with other exchanges. For the reasons
described above, the Exchange believes that the proposed rule change
reflects this competitive environment.

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

    The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \17\ and Rule 19b-4(f)(6) thereunder.\18\
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 prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
---------------------------------------------------------------------------

    \17\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \18\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \19\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(f)(6)(iii),\20\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest.
---------------------------------------------------------------------------

    \19\ 17 CFR 240.19b-4(f)(6).
    \20\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of such 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 under
Section 19(b)(2)(B) \21\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \21\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

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-NYSEMKT-2015-08 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-NYSEMKT-2015-08. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSEMKT-2015-08, and should
be submitted on or before March 5, 2015.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
---------------------------------------------------------------------------

    \22\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2015-02893 Filed 2-11-15; 8:45 am]
BILLING CODE 8011-01-P