[Federal Register Volume 84, Number 81 (Friday, April 26, 2019)]
[Notices]
[Pages 17894-17897]
[FR Doc No: 2019-08398]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-85698; File No. SR-C2-2019-007]

Self-Regulatory Organizations; Cboe C2 Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend
Its Continuous Quoting Obligations for Market-Makers

April 22, 2019.
    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 April 8, 2019, Cboe C2 Exchange, Inc. (``Exchange'' or ``C2'') 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 Exchange filed the
proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act
\3\ and Rule 19b-4(f)(6) thereunder.\4\ The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    Cboe C2 Exchange, Inc. (the ``Exchange'' or ``C2'') proposes to
amend its continuous quoting obligations for Market-Makers. The text of
the proposed rule change is provided in Exhibit 5.
    The text of the proposed rule change is also available on the
Exchange's website (http://markets.cboe.com/us/options/regulation/rule_filings/ctwo/), at the Exchange's Office of the Secretary, and at
the Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to change to its current continuous quoting
requirement for Market-Makers under Rule 8.6(d) (Market-Maker Quotes).
This proposed rule change to the continuous quoting requirement is
based on existing Nasdaq PHLX LLC (``Phlx''), Nasdaq ISE, LLC
(``ISE''), Nasdaq MRX, LLC (``MRX'') and Nasdaq GEMX, LLC (``GEMX'')
rules \5\ previously filed with the Commission. The proposed rule
change also intends to harmonize quoting requirements across C2 and its
affiliated exchanges, Cboe BZX Exchange, Inc. (``BZX Options'') and
Cboe EDGX Exchange, Inc. (``EDGX Options'').\6\ Overall, the Exchange
believes that having substantially the same Market-Maker continuous
quoting requirements across its affiliated exchanges and other
exchanges will reduce the compliance burden and confusion for Market-
Makers that are members of multiple exchanges industry-wide. The
Exchange also proposes to make non-substantive changes to Rule 8.2,
amending an inadvertent error to an inaccurate cross-reference and
deleting an obsolete provision that is no longer relevant to the
Exchange rules and User functionality.
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    \5\ See Phlx Rule 1081(c); ISE Rule 804(e); MRX Rule 804(e); and
GEMX Rule 804(e). See also Securities Exchange Act Release No. 83209
(May 10, 2018), 83 FR 22717 (May 16, 2018) (SR-Phlx-2018-22) (Order
Granting Approval of Proposed Rule Change to Amend Phlx's Quoting
Requirements, Among Other Changes) (SR-Phlx-2018-22).
    \6\ The Exchange notes that BZX Options and EDGX Options are
simultaneously proposing the same continuous quoting requirements.
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    Specifically, the Exchange proposes to amend a Market-Maker's
continuous quoting obligations under Rule 8.6(d) based on existing
Phlx, ISE, MRX and GEMX rules, previously filed with the Commission.
The proposed amendments to Rule 8.2(d) are substantially similar to the
continuous quoting requirement provisions on other exchanges.\7\
Current Rule 8.6(d) provides that a Market-Maker must enter continuous
bids and offers in series in its appointed classes on a daily basis in
60% of the series of each appointed class for 90% of the trading day.
The proposed rule change to Rule 8.6(d) requires a Market-Maker to
continuously enter bids and offers in series in its appointed classes
(pursuant to Rule 8.6(b)) in 60% of the cumulative number of seconds,
or such higher percentage as the Exchange may announce in advance, for
which that Market-Maker's appointed classes are open, excluding any
adjusted series, any intra-day add-on series on the day during which
such series are added for trading, any Quarterly Option Series and any
series with an expiration of greater than 270 days. Additionally, the
proposed change amends current subparagraph (d)(2) to provide for the
way in which the Exchange calculates this requirement and is explicit
in stating that quoting is not required in every appointed class. An
example of the proposed calculation is presented below:
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    \7\ See supra note 5.

    Market-Maker A (``Firm A'') \8\ has selected an appointment to
quote option class U, in which options U1, U2, U3, U4, and U5 are
open for trading.
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    \8\ The Exchange notes that a Market-Maker may use multiple
Executing Firm IDs (``EFIDs'') to submit quotes in a class. The
quoting time from all of a Market-Maker EFIDs' will be considered
together when determining compliance with this obligation.
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    Firm A also has selected appointments in options classes V and
W.

Option U1 opened at 09:30:00 \9\ and closed at 16:00:00
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    \9\ All times in example calculation in Eastern Time.
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Firm A quoted U1 at 09:35:30 @13.00(10)-15.00(10)
Firm A updated quote in U1 at 09:50:31 @10.00(10)-15.00(20)
Firm A purged quote at 15:55:40
Total quoted time for U1 is: 15:55:40-09:35:30 = (15-9) * 3600 +
(55-35) * 60 + (40-30) = 22810 (seconds)
Total available quote time for U1 is: 16:00:00-09:30:00 = (16-9) *
3600 + (60-30) * 60 + (00-00) = 270000 (seconds)

Option U2 opened at 09:30:00 and closed at 16:00:00
Firm A quoted U2 at 10:05:30 @13.00(10)-15.00(10)
Firm A updated quote in U2 at 11:00:01 @11.00(10)-16.00(20)
Firm A purged quote at 15:05:40
Total quoted time for U2 is: 15:05:40-10:05:30 = (15-10) * 3600 +
(65-05) * 60 + (40-30) = 21610 (seconds)
Total available quote time for U2 is: 16:00:00-09:30:00 = (16-9) *
3600 + (60-30) * 60 + (00-00) = 27000 (seconds)

Option U3 opened at 09:30:00 and closed at 16:15:00
Firm A quoted U3 at 11:10:21 @21.00(10)-24.00(20)
Firm A purged quote at 15:15:05
Total quoted time for U3 is: 15:15:05-11:10:21 = (15-11) * 3600 +
(75-10) * 60 + (65-21) = 18344 (seconds)
Total available quote time for U3 is: 16:01:20-09:40:02 = (16-9) *
3600 + (75-30) * 60 + (00-00) = 27900 (seconds)

Option U4 opened at 9:30:00 and closed at 16:00:00
Firm A quoted U4 at 09:34:29 @35.00(10)-37.00(10)

Firm A updated quote in U4 at 10:30:21 @31.00(10)-37.00(20)
Firm A purged quote in U4 at 15:59:34
Total quoted time for U4 is: 15:59:34-09:34:29 = (15-09) * 3600 +
(59-34) * 60 + (34-29) = 23105 (seconds)
Total available quote time is: 16:00:00-09:30:00 = (16-9) * 3600 +
(60-30) * 60 + (00-0) = 27000 (seconds)

Option U5 opened at 9:30:00 and closed at 16:00:00
Firm A did not quote U5 thus, the total quoted time for U5 will be:
0 (seconds)
Total available quote time is: 16:00:00-09:30:00 = (16-9) * 3600 +
(60-30) * 60 + (00-00) = 27000 (seconds)
Total time Firm A quoted class U: 22810 + 21610 + 18344 + 23105 + 0
= 85869 (seconds)
Total eligible quoting time for Firm A on class U: 27000 + 27000 +
27900 + 27000 + 27000 = 135900 (seconds)

    Similarly assume:

Total time for Firm A quoted class V: 80983 (seconds)
Total eligible quoting time for Firm A on class V: 84515 (seconds)
Total time for Firm A quoted class W: 0 (seconds)
Total eligible quoting time for Firm A on underlying W: 46513
(seconds)
Then the total quoting percentage for Firm A is: (85869 + 80983 +
0)/(135900 + 84515 + 46513) = 156852/266928 = 62.5%

    As stated, the current rule requires a Market-Maker to quote 60% of
the series in which it is registered for 90% of each trading day. By
comparison, the proposed rule change permits a Market-Maker to quote
any percentage of appointed classes so long as the Market-Maker meets
the requirement that it enters quotes aggregating 60% of the cumulative
seconds across the total seconds that its appointment classes are open
for trading. The proposed rule explicitly provides that a Market-Maker
does not necessarily have to quote every appointed class. The Exchange
believes the proposed rule better accommodates the occasional issues
that may arise in a particular class, whether technical or manual. For
example, an issue may arise on the Market-Maker's side in which there
is a glitch in its systems or a manual computing error that temporarily
disrupts quoting ability. The Exchange notes that the existing
requirement may at times discourage liquidity in particular classes
because a Market-Maker is forced to focus on a momentary technical
lapse in order to meet the higher current thresholds, rather than using
the appropriate resources to focus on the classes that need and consume
additional liquidity. The proposed rule also adds language that the
Exchange may announce in advance a higher percentage than the proposed
60% of the cumulative number of seconds requirement, which the Exchange
believes may be appropriate on occasions when doing so would be in the
interest of a fair and orderly market. This discretion is the same in
the corresponding rules of Phlx, ISE, MRX, and GEMX,\10\ as well as
within the continuous quoting requirements of the Exchanges' affiliated
exchanges, BZX Options and EDGX Options. The proposed rule change also
moves the series excluded from a Market-Maker's quoting requirement to
Rule 8.6(d) and deletes this same language that is currently in
subparagraph (d)(3). The proposed change also amends the current
quoting exclusion of any series with an expiration of nine months or
greater to an expiration of greater than 270 days. The Exchange notes
that Market-Makers generally already monitor expirations by a defined
count of 270 days, as opposed to a nine month count in which the number
of days continuously varies. Therefore, this proposed change intends to
align the Exchange's rules with current industry practice.\11\ The
proposed rule change also amends the current quoting exclusions to
include Quarterly Option series. C2 may list and trade Quarterly
Options Series pursuant to Rule 5.5(e) and this exclusion is consistent
with corresponding Rule 22.6 (Market Maker Quotations) of the
Exchange's affiliated exchanges, BZX Options and EDGX Options,\12\ as
well as the corresponding rules of Phlx, ISE, MRX, and GEMX.\13\
Additionally, the proposed rule change amends the reference to the
quoting standard in subparagraph (d)(1) to 60%.
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    \10\ See supra note 5.
    \11\ The Exchange notes that EDGX Options and BZX Options are
simultaneously proposing to amend their corresponding rules to
exclude any series with an expiration of 270 days or greater.
    \12\ See Securities Exchange Act Release No. 71129 (December 18,
2013), 78 FR 77736 (December 18, 2013) (Notice of Filing and
Immediate Effectiveness of a Proposed Rule Change To Modify BATS
Options Market Maker Continuous Quoting Obligation Rules) (SR-BATS-
2013-062), which adopted exclusions, including Quarterly Options
series, to Market Maker's quoting obligations and noted that such
exclusions were ``consistent with the rules of several other options
exchanges'' and ``did not diminish the quoting obligation''. The
Exchange also notes that these exclusions were adopted on EDGX
Options when that exchange was established.
    \13\ See supra note 5.
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    As stated, the Exchange amends its continuous quoting requirements
to be substantially similar to the requirements under other exchanges'
rules.\14\ The Exchange believes that proposed amendments to its
quoting requirements are reasonable because these requirements are
already in place on other options exchanges.\15\ The Exchange notes
that the proposed change to continuous quoting requirements creates a
clear, affirmative Market-Maker obligation to hold themselves out as
willing to buy and sell securities for their own account on a
continuous basis, which justifies favorable Market-Maker treatment and
will continue to provide customer trading interest a net benefit. The
Exchange further believes having consistent with other exchanges \16\
will simplify the regulatory requirements for its Trading Permit
Holders (``TPHs'') that are active across multiple exchanges.
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    \14\ See supra note 5.
    \15\ See supra note 6. The same quoting requirements will be
incorporated into EDGX Options and BZX Options rules.
    \16\ Id.
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    Additionally, the Exchange proposes to make non-substantive changes
to Rule 8.2. First, the Exchange proposes to amend an inadvertent
mistake regarding a cross reference within Rule 8.2(d). Currently, Rule
8.2 states that the Exchange may limit the number of appointments a
Market-Maker may have, or the number of Market-Makers that may have
appointments in a class, pursuant to Rule 8.1(b). The Exchange notes,
however, that Rule 8.1(c), in fact, is the appropriate provision that
allows the Exchange to limit the number of appointments. The Exchange
believes this change is necessary to correct an inadvertent error in
its rule and provide clarity for TPHs. Furthermore, the Exchange
proposes to delete Rule 8.2(c), which currently states that a Market-
Maker's appointment in a class confers the right of the Market-Maker to
quote (using order functionality) in that class. The Exchange notes
that it recently discontinued this order functionality and implemented
``bulk messaging'' quoting functionality that is available to all
Users, including Market-Makers.\17\ As a result, there is no longer a
specific quote functionality available only to Market-Makers, therefore
the Exchange believes this provision is no longer necessary. This is
also consistent with the rule of its affiliated exchanges, BZX Options
and EDGX Options. In line with this proposed deletion, the Exchange
changes current Rule 8.2(d) to proposed Rule 8.2(c).
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    \17\ See Securities Exchange Act Release No. 85038 (February 1,
2019), 84 FR 2598 (February 7, 2019) (Notice of Filing and Immediate
Effectiveness of a Proposed Rule Change To Discontinue Bulk Order
Functionality and Implement Bulk Message Functionality) (SR-C2-2018-
025). C2 Rule 1.1.
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2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
the

Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\18\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \19\ requirements that the rules of an exchange be
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. Additionally,
the Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \20\ requirement that the rules of an exchange not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
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    \18\ 15 U.S.C. 78f(b).
    \19\ 15 U.S.C. 78f(b)(5).
    \20\ Id.
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    In particular, the Exchange believes the proposed rule change to
amend Market-Makers' continuous quoting obligations will remove
impediments to and perfect the mechanism of a free and open market and
a national market system. The proposed rule change to a Market-Maker's
continuous quoting obligations seeks to conform the quoting obligations
to that of the rules of other exchanges.\21\ The Exchanges currently
requires a Market-Maker to quote in at least 60% the options series in
which the Market-Maker is registered during 90% of the trading day. The
Exchange believes that applying a Market-Maker's cumulative quoting
time to the Market-Maker's aggregate appointed classes to meet a
threshold of 60% of the cumulative seconds its appointed classes are
open for trading (like that of the current requirements on other
exchanges) is less stringent than the Exchange's current requirement
because of the lower quoting time threshold and because the proposed
requirement does not consider a percentage of its appointed classes, so
long as the overall 60% time requirement is met. Further, the Exchange
notes that the current continuous quoting requirement potentially
discourages liquidity at times when a Market-Maker is forced to focus
on making up for a momentary lapse in a particular class rather than
allocating appropriate resources to focus on the classes that need and
consume additional liquidity, and then allowing a Market-Maker to
continue quoting in the class that experienced a lapse after correcting
the applicable issue.\22\ The Exchange believes that this rule change
better accommodates these occasional lapses, whether technical or
manual, and enables a Market-Maker to provide appropriate liquidity
commensurate with the needs of its appointed classes. Moreover, the
Exchange believes that it can better attract Market-Makers, add
liquidity, and grow its market to the benefit of all investors, if its
quoting obligation is more in line with that of other exchanges. The
proposed rule change supports the quality of the Exchange's market by
helping to ensure that Market-Makers will continue to be obligated to
quote in a percentage of their appointed classes. Ultimately, the
benefit the proposed rule change confers upon Market-Makers is offset
by the continued responsibilities to provide significant liquidity to
its appointed classes to the benefit of all market participants. The
Exchange believes that the proposed change to continuous quoting
requirements creates a clear, affirmative Market-Maker obligation to
hold themselves out as willing to buy and sell securities for their own
account on a continuous basis, which justifies favorable Market-Maker
treatment and will continue to provide customer trading interest a net
benefit. The Exchange further notes that the proposed rule text is
consistent with the Act because the quoting obligations are
substantially the same as quoting obligations on Phlx, ISE, MRX, and
GEMX today, previously filed with the Commission.\23\ Additionally, the
Exchange notes that the proposed rule change including Quarterly Option
series among the series excluded from quoting obligations is intended
to harmonizing series excluded across the Exchange and its affiliated
exchanges,\24\ as well as other exchanges,\25\ which will provide
clarity for Market-Makers participating across multiple exchanges.
Furthermore, the Exchange believes the proposed rule change excluding
any series with an expiration greater than 270 days, as opposed to nine
months or greater, from a Market-Maker's quoting obligations is in line
with the way in which Market-Makers currently monitor expiration. As a
result, the Exchange believes that this change will foster cooperation
and coordination with persons engaged in regulating securities, as well
as facilitating transactions in securities. The proposed change will
reduce confusion by codifying an industry practice already in place and
harmonizing expiration time across the Exchange and its affiliated
exchanges.\26\ The Exchange also notes that the proposed changes are
reasonable and do not affect investor protection because the proposed
changes do not present any novel or unique issues, as they have either
been previously filed with the Commission or are codifying an industry
practice currently in place.
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    \21\ See supra note 5.
    \22\ See also Exchange Rule 8.6(d)(1). The Exchange already
accounts for technical failure or limitation due to the automated
trading system the Exchange uses for the trading of option contracts
(``System'').
    \23\ See supra note 5.
    \24\ See BZX Options Rule 22.6 and EDGX Options Rule 22.6.
    \25\ See supra note 5.
    \26\ See supra note 9.
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    Moreover, the Exchange believes that the amendment to the cross-
reference in current Rule 8.2(d) (proposed Rule 8.2(c)) corrects an
inadvertent cross-reference error and that the proposed deletion of
Rule 8.2(c) updates its rules to reflect the recent discontinuation of
the order functionality referenced in Rule 8.2(c) and implementation of
bulk messaging functionality, which allows all Users, including Market-
Makers, to enter quotes. As a result, these changes provide clarity and
reduce confusion for investors.
    Additionally, the Exchange believes the proposed rule change is
consistent with Section 6(b)(1) of the Act,\27\ which provides that the
Exchange be organized and have the capacity to be able to carry out the
purposes of the Act and to enforce compliance by the Exchange's TPHs
and persons associated with its TPHs with the Act, the rules and
regulations thereunder, and the rules of the Exchange. The Exchange
notes that the proposed rule change to a Market-Maker's continuous
quoting requirements will serve to harmonize the quoting requirement
for Market-Makers across its affiliated exchanges, EDGX Options and BZX
Options that are also proposing substantially the same requirements.
The Exchange thus believes these proposed changes create uniformity,
which allows for the Exchange to organize across affiliated exchanges
and to more easily enforce compliance by participants on multiple
affiliated exchanges.
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    \27\ 15 U.S.C. 78f(b)(1).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The Exchange believes that
the proposed rule change to a Market-Maker's continuous quoting
requirements under

Rule 8.6 does not affect intramarket competition. The proposed applies
an affirmative obligation to all Market-Makers to hold themselves out
as continuously willing to buy and sell options for their own account,
justifying favorable treatment and benefitting the trading interest of
all customers. The Exchange believes that the proposed change to
continuous quoting requirements does not affect intermarket
competition, as this proposal is based on other exchanges' rules
previously filed with the Commission.\28\ The Exchange also notes that
to the degree that other exchanges have varying continuous quoting
obligations for Market-Makers, market participants on other exchanges
are welcome to become Market-Makers on C2 if they determine that this
proposed rule change has made market making on C2 more attractive or
favorable. Finally, the Exchange believes that the proposed rule change
will relieve any burden on market participants because it serves to
provide Market-Makers with affirmative quoting requirements that ensure
each appointed class will receive appropriate liquidity to the benefit
of all market participants who interact with that liquidity.
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    \28\ See supra note 5.
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    Additionally, the proposed rule change to amend Rule 8.2 does not
address competitive issues, but rather, as discussed above, is merely
intended to correct an inadvertent uses of an inaccurate cross-
reference, as well as delete an obsolete provision, which will
alleviate potential confusion.

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

    The Exchange neither solicited nor received comments on the
proposed rule change.

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

    Because the foregoing proposed rule change does not:
    A. Significantly affect the protection of investors or the public
interest;
    B. impose any significant burden on competition; and
    C. become operative for 30 days from the date on which it was
filed, or such shorter time as the Commission may designate, it has
become effective pursuant to Section 19(b)(3)(A) of the Act \29\ and
Rule 19b-4(f)(6) \30\ thereunder. 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 will institute proceedings to determine whether the proposed
rule change should be approved or disapproved.
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    \29\ 15 U.S.C. 78s(b)(3)(A).
    \30\ 17 CFR 240.19b-4(f)(6).
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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-C2-2019-007 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-C2-2019-007. 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-C2-2019-007 and should be submitted on
or before May 17, 2019.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\31\
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    \31\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-08398 Filed 4-25-19; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 87, Number 61 (Wednesday, March 30, 2022)]
[Notices]
[Pages 18409-18410]
[FR Doc No: 2022-06515]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94497; File No. SR-FICC-2021-009]

Self-Regulatory Organizations; Fixed Income Clearing Corporation;
Order Instituting Proceedings To Determine Whether To Approve or
Disapprove a Proposed Rule Change To Enhance Capital Requirements and
Make Other Changes

March 23, 2022.

I. Introduction

    On December 13, 2021, Fixed Income Clearing Corporation (``FICC'')
filed with the Securities and Exchange Commission (``Commission'')
proposed rule change SR-FICC-2021-009 (the ``Proposed Rule Change'')
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder.\2\ The Proposed Rule Change
was published for comment in the Federal Register on December 29,
2021,\3\ and the Commission received no comment letters regarding the
changes proposed in the Proposed Rule Change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 93857 (December 22,
2021), 86 FR 74130 (December 29, 2021) (SR-FICC-2021-009)
(``Notice'').
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    On January 26, 2022, pursuant to Section 19(b)(2) of the Act,\4\
the Commission designated a longer period within which to approve,
disapprove, or institute proceedings to determine whether to approve or
disapprove the Proposed Rule Change.\5\ This order institutes
proceedings, pursuant to Section 19(b)(2)(B) of the Act,\6\ to
determine whether to approve or disapprove the Proposed Rule Change.
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ Securities Exchange Act Release No. 94066 (January 26,
2022), 87 FR 5523 (February 1, 2022) (SR-FICC-2021-009).
    \6\ 15 U.S.C. 78s(b)(2)(B).
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II. Summary of the Proposed Rule Change

    As described in the Notice, FICC proposes to amend the Government
Securities Division (``GSD'') Rulebook (the ``GSD Rules'') and the
Mortgage-Backed Securities Division (``MBSD'') Clearing Rules (the
``MBSD Rules,'' and together with the GSD Rules, the ``Rules'') of FICC
in order to (1) revise its capital requirements for GSD members and
MBSD members (collectively, ``members''), (2) streamline its two credit
risk monitoring systems, Watch List and enhanced surveillance list, and
(3) make certain other clarifying, technical, and supplementary changes
to implement items (1) and (2).\7\
---------------------------------------------------------------------------

    \7\ The description of the Proposed Rule Change is based on the
statements prepared by FICC in the Notice. See Notice, supra note 3.
Capitalized terms used herein and not otherwise defined herein are
defined in the Rules, available at https://www.dtcc.com/legal/rules-and-procedures.
---------------------------------------------------------------------------

    First, FICC proposes to revise various aspects of its capital
requirements for several types of members. FICC proposes to increase
minimum capital requirements for certain members. FICC also proposes to
revise how it measures certain members' capital by incorporating common
equity tier 1 capital and the standards established in the capital
adequacy rules and regulations of the Federal Deposit Insurance
Corporation. FICC would revise the reporting requirements concerning
the capital requirements for certain members. In addition, for certain
types of members who currently do not have specific amounts for their
minimum capital requirements, the proposal would establish such a
requirement.
    Second, FICC proposes to revise its Watch List and enhanced
surveillance list, which are both currently used to identify
participants who would receive additional or enhanced credit risk
monitoring. FICC proposes to revise its Watch List and delete its
enhanced surveillance list. FICC also proposes to clarify that members
on the Watch List are reported to FICC's management committees and
regularly reviewed by FICC's senior management.
    Third, FICC proposes to (1) revise or add headings and sub-headings
and renumbering sections as appropriate, (2) revise defined terms and
add appropriate defined terms to facilitate the proposed changes, (3)
rearrange and consolidate paragraphs to promote readability, (4) fix
typographical and other errors, and (5) other changes in order to
improve the accessibility and transparency of the Rules.

III. Proceedings To Determine Whether To Approve or Disapprove the
Proposed Rule Change and Grounds for Disapproval Under Consideration

    The Commission is instituting proceedings pursuant to Section
19(b)(2)(B) of the Act \8\ to determine whether the Proposed Rule
Change should be approved or disapproved. Institution of proceedings is
appropriate at this time in view of the legal and policy issues raised
by the Proposed Rule Change. Institution of proceedings does not
indicate that the Commission has reached any conclusions with respect
to any of the issues involved. Rather, the Commission seeks and
encourages interested persons to comment on the Proposed Rule Change,
providing the Commission with arguments to support the Commission's
analysis as to whether to approve or disapprove the Proposed Rule
Change.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

    Pursuant to Section 19(b)(2)(B) of the Act,\9\ the Commission is
providing notice of the grounds for disapproval under consideration.
The Commission is instituting proceedings to allow for additional
analysis of, and input from commenters with respect to, the Proposed
Rule Change's consistency with Section 17A of the Act,\10\ and the
rules thereunder, including the following provisions:
---------------------------------------------------------------------------

    \9\ Id.
    \10\ 15 U.S.C. 78q-1.
---------------------------------------------------------------------------

     Section 17A(b)(3)(F) of the Act,\11\ which requires, among
other things, that the rules of a clearing agency must be designed to
promote the prompt and accurate clearance and settlement of securities
transactions, to assure the safeguarding of securities and funds which
are in the custody or control of the clearing agency or for which it is
responsible, and to protect investors and the public interest;
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------

     Section 17A(b)(3)(I) of the Act,\12\ which requires that
the rules of a clearing agency do not impose any burden on competition
not necessary or appropriate in furtherance of the purposes of the Act;
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78q-1(b)(3)(I).
---------------------------------------------------------------------------

     Rule 17Ad-22(e)(18) under the Act,\13\ which requires that
a covered clearing agency establish, implement, maintain, and enforce
written policies and procedures reasonably designed to establish
objective, risk-based, and publicly disclosed criteria for
participation, which permit fair and

open access by direct and, where relevant, indirect participants and
other financial market utilities, require participants to have
sufficient financial resources and robust operational capacity to meet
obligations arising from participation in the clearing agency, and
monitor compliance with such participation requirements on an ongoing
basis.
---------------------------------------------------------------------------

    \13\ 17 CFR 240.17Ad-22(e)(18).
---------------------------------------------------------------------------

IV. Procedure: Request for Written Comments

    The Commission requests that interested persons provide written
submissions of their views, data, and arguments with respect to the
issues identified above, as well as any other concerns they may have
with the Proposed Rule Change. In particular, the Commission invites
the written views of interested persons concerning whether the Proposed
Rule Change is consistent with Section 17A(b)(3)(F) of the Act,\14\
Section 17A(b)(3)(I) of the Act,\15\ Rule 17Ad-22(e)(18) under the
Act,\16\ or any other provision of the Act, or the rules and
regulations thereunder.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78q-1(b)(3)(F).
    \15\ 15 U.S.C. 78q-1(b)(3)(I).
    \16\ 17 CFR 240.17Ad-22(e)(18).
---------------------------------------------------------------------------

    Interested persons are invited to submit written data, views, and
arguments regarding whether the Proposed Rule Change should be approved
or disapproved by April 20, 2022. Any person who wishes to file a
rebuttal to any other person's submission must file that rebuttal by
May 4, 2022.
    The Commission asks that commenters address the sufficiency of
FICC's statements in support of the Proposed Rule Change, which are set
forth in the Notice,\17\ in addition to any other comments they may
wish to submit about the Proposed Rule Change.
---------------------------------------------------------------------------

    \17\ See Notice, supra note 3.
---------------------------------------------------------------------------

    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-FICC-2021-009 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-FICC-2021-009. 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 FICC and on DTCC's website
(http://dtcc.com/legal/sec-rule-filings.aspx). 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-FICC-2021-009 and should be submitted on
or before April 20, 2022. Rebuttal comments should be submitted by May
4, 2022.
---------------------------------------------------------------------------

    \18\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-06515 Filed 3-29-22; 8:45 am]
BILLING CODE 8011-01-P


12( d) ( 15 U. S. C. 272 note), directs EPA to use voluntary consensus standards ( VCS) in its regulatory activities unless to do so would be inconsistent with applicable law or otherwise impractical. The VCS are technical standards ( e. g., materials specifications, test methods, sampling procedures, and business practices) that are developed or adopted by VCS bodies. The NTTAA directs EPA to provide Congress, through OMB, explanations when the Agency decides not to use available and applicable VCS.

The proposed rule does not involve technical standards.

Therefore, EPA is not considering the use of any VCS. Perchloroethylene Emissions From Dry Cleaning Facilities   Page 97 of 105 List of Subjects in 40 CFR Part 63 Environmental Protection, Air pollution control, Hazardous substances,

Reporting and Recordkeeping requirements.

Dated:

Stephen L. Johnson, Administrator. For the reasons stated in the preamble, title 40, chapter I, of the Code of Federal Regulations is proposed to be amended as follows:

PART 63[ AMENDED]

1. The authority citation for part 63 continues to read as follows:

Authority: 42 U. S. C. 7401, et seq.

Subpart M [ AMENDED]

2. Section 63.320 is amended by revising paragraphs ( b), ( c),

( d), and ( e) to read as follows:

§ 63.320 Applicability.

* * * * *

( b) The compliance date for a new dry cleaning system depends on the date that construction or reconstruction commences.

( 1) Each dry cleaning system that commences construction or reconstruction on or after December 9, 1991 and before [ INSERT THE DATE OF PUBLICATION OF THE PROPOSED RULE IN THE FEDERAL REGISTER], shall be in compliance with the provisions of this subpart except § 63.322( o)

beginning on September 22, 1993 or immediately upon startup, whichever is later, except for dry cleaning systems complying with section 112( i)( 2) of the Clean Air Act; and shall be in compliance with the provisions of § 63.322( o) beginning on [ 90 DAYS AFTER DATE FINAL RULE IS PUBLISHED IN THE FEDERAL REGISTER] or immediately upon startup,

whichever is later, except as provided by § 63.6( b)( 4).

( 2) Each dry cleaning system that commences construction or reconstruction on or after [ INSERT DATE OF PUBLICATION OF THE PROPOSED RULE IN THE FEDERAL REGISTER] and before [ INSERT DATE FINAL RULE IS PUBLISHED IN THE FEDERAL REGISTER], shall be in compliance with the provisions of this subpart except § 63.322( o) immediately upon startup and shall be in compliance with the provisions of § 63.322( o) beginning on [ INSERT DATE FINAL RULE IS PUBLISHED IN THE FEDERAL REGISTER] or 99 immediately upon startup, whichever is later.

( 3) Each dry cleaning system that commences construction or reconstruction on or after [ INSERT DATE FINAL RULE IS PUBLISHED IN THE FEDERAL REGISTER], shall be in compliance with provisions of this subpart, including § 63.322( o) immediately upon startup.

( c) Each dry cleaning system that commenced construction or reconstruction before December 9, 1991, and each new transfer machine system and its ancillary equipment that commenced construction or reconstruction on or after December 9, 1991 and before September 22,

1993 shall comply with § § 63.322( c), ( d), ( i), ( j), ( k), ( l), and ( m);

63.323( d); and 63.324( a), ( b), ( d)( 1), ( d)( 2), ( d)( 3), ( d)( 4), and ( e)

beginning on December 20, 1993, and shall comply with other provisions of this subpart except § 63.322( o) by September 23, 1996; and shall comply with § 63.322( o) by [ INSERT DATE 90 DAYS AFTER DATE FINAL RULE IS PUBLISHED IN THE FEDERAL REGISTER].

( d) Each existing dry to dry machine and its ancillary equipment located in a dry cleaning facility that includes only dry to dry machines, and each existing transfer machine system and its ancillary equipment, and each new transfer machine system and its ancillary equipment installed between December 9, 1991 and September 22, 1993, as well as each existing dry to dry machine and its ancillary equipment,

located in a dry cleaning facility that includes both transfer machine system( s) and dry to dry machine( s) is exempt from § § 63.322, 63.323, and 63.324, except paragraphs 63.322( c), ( d), ( i), ( j), ( k), ( l), ( m),

( o)( 1), and ( o)( 4); 63.323( d); and 63.324 ( a), ( b), ( d)( 1), ( d)( 2),

( d)( 3), ( d)( 4), and ( e) if the total perchloroethylene consumption of the dry cleaning facility is less than 530 liters ( 140 gallons) per year. Consumption is determined according to § 63.323( d). 100 ( e) Each existing transfer machine system and its ancillary equipment, and each new transfer machine system and its ancillary equipment installed between December 9, 1991 and September 22, 1993,

located in a dry cleaning facility that includes only transfer machine system( s), is exempt from § § 63.322, 63.323, and 63.324, except paragraphs 63.322( c), ( d), ( i), ( j), ( k), ( l), ( m), ( o)( 1), and ( o)( 4),

63.323( d), and 63.324 ( a), ( b), ( d)( 1), ( d)( 2), ( d)( 3), ( d)( 4), and ( e)

if the perchloroethylene consumption of the dry cleaning facility is less than 760 liters ( 200 gallons) per year. Consumption is determined according to § 63.323( d).

* * * * *

3. Section 63.321 is amended by revising the definition of filter, and adding definitions for halogenated hydrocarbon detector,

perchloroethylene gas analyzer, residence, and vapor leak to read as follows:

§ 63.321 Definitions.

* * * * *

Filter means a porous device through which perchloroethylene is passed to remove contaminants in suspension. Examples include, but are not limited to, lint filter, button trap, cartridge filter, tubular filter, regenerative filter, prefilter, polishing filter, and spin disc filter.

Halogenated hydrocarbon detector means a portable device capable of detecting vapor concentrations of perchloroethylene of 25 parts per million by volume and indicating a concentration of 25 parts per million by volume or greater by emitting an audible or visual signal that varies as the concentration changes.

* * * * *

Perchloroethylene gas analyzer means a flame ionization detector, 101 photoionization detector, or infrared analyzer capable of detecting vapor concentrations of perchloroethylene of 25 parts per million by volume.

* * * * *

Residence means any dwelling or housing in which people reside excluding short term housing that is occupied by the same person for a period of less than 180 days ( such as a hotel room).

* * * * *

Vapor leak means a perchloroethylene vapor concentration exceeding 25 parts per million by volume ( 50 parts per million by volume as methane) as indicated by a halogenated hydrocarbon detector or perchloroethylene gas analyzer.

* * * * *

4. Section 63.322 is amended by revising paragraphs ( e)( 3), ( k),

and ( m) and adding paragraph ( o) to read as follows:

§ 63.322 Standards.

* * * * *

( e) * * *

( 3) Shall prevent air drawn into the dry cleaning machine when the door of the machine is open from passing through the refrigerated condenser.

* * * * *

( k) The owner or operator of a dry cleaning system shall inspect the system weekly for perceptible leaks while the dry cleaning system is operating. Inspection with a halogenated hydrocarbon detector or perchloroethylene gas analyzer also fulfills the requirement for inspection for perceptible leaks. The following components shall be inspected:

* * * * * 102 ( m) The owner or operator of a dry cleaning system shall repair all leaks detected under paragraph ( k) or ( o)( 1) of this section within 24 hours. If repair parts must be ordered, either a written or verbal order for those parts shall be initiated within 2 working days of detecting such a leak. Such repair parts shall be installed within 5 working days after receipt.

* * * * *

( o) Additional requirements:

( 1) The owner or operator of a dry cleaning system shall inspect the components listed in paragraph ( k) of this section for vapor leaks monthly while the component is in operation.

( i) Area sources shall conduct the inspections using a halogenated hydrocarbon detector or perchloroethylene gas analyzer that is operated according to the manufacturer's instructions. The operator shall place the probe inlet at the surface of each component interface where leakage could occur and move it slowly along the interface periphery.

( ii) Major sources shall conduct the inspections using a perchloroethylene gas analyzer operated according to EPA Method 21.

( 2) The owner or operator of a dry cleaning system at any major source shall route the air perchloroethylene gas vapor stream contained within each dry cleaning machine through a refrigerated condenser and shall pass the air perchloroethylene gas vapor stream from inside the dry cleaning machine drum through a carbon adsorber or equivalent control device immediately before or as the door of the dry cleaning machine is opened. The carbon adsorber must be desorbed in accordance with manufacturer's instructions.

( 3) The owner or operator of each dry cleaning system installed after [ INSERT THE DATE OF PUBLICATION OF THE PROPOSED RULE IN THE 103 FEDERAL REGISTER] at an area source shall route the airperchloroethylene gas vapor stream contained within each dry cleaning machine through a refrigerated condenser and pass the airperchloroethylene gas vapor stream from inside the dry cleaning machine drum through a carbon adsorber or equivalent control device immediately before the door of the dry cleaning machine is opened. The carbon adsorber must be desorbed in accordance with manufacturer's instructions.

( 4) The owner or operator of any dry cleaning system shall eliminate any emission of perchloroethylene during the transfer of articles between the washer and the dryer( s) or reclaimer( s).

( 5) The owner or operator shall eliminate any emission of perchloroethylene from any dry cleaning system that is installed after [ INSERT DATE OF PUBLICATION OF THE PROPOSED RULE IN THE FEDERAL REGISTER] and that is located in a building with a residence.

5. Section 63.323 is amended by revising paragraphs ( b)

introductory text, ( b)( 1), ( b)( 2), and ( c) to read as follows:

§ 63.323 Test methods and monitoring.

* * * * *

( b) When a carbon adsorber is used to comply with § 63.322( a)( 2)

or exhaust is passed through a carbon adsorber immediately upon machine door opening to comply with § 63.322( b)( 3) or § 63.323( o)( 2), the owner or operator shall measure the concentration of perchloroethylene in the exhaust of the carbon adsorber weekly with a colorimetric detector tube or perchloroethylene gas analyzer. The measurement shall be taken while the dry cleaning machine is venting to that carbon adsorber at the end of the last dry cleaning cycle prior to desorption of that carbon adsorber or removal of the activated carbon to determine that the perchloroethylene concentration in the exhaust is equal to or less than 104 100 parts per million by volume. The owner or operator shall:

( 1) Use a colorimetric detector tube or perchloroethylene gas analyzer designed to measure a concentration of 100 parts per million by volume of perchloroethylene in air to an accuracy of ± 25 parts per million by volume; and ( 2) Use the colorimetric detector tube or perchloroethylene gas analyzer according to the manufacturer's instructions; and * * * * *

( c) If the air perchloroethylene gas vapor stream is passed through a carbon adsorber prior to machine door opening to comply with § 63.322( b)( 3) or § 63.323( o)( 2), the owner or operator of an affected facility shall measure the concentration of perchloroethylene in the dry cleaning machine drum at the end of the dry cleaning cycle weekly with a colorimetric detector tube or perchloroethylene gas analyzer to determine that the perchloroethylene concentration is equal to or less than 300 parts per million by volume. The owner or operator shall:

( 1) Use a colorimetric detector tube or perchloroethylene gas analyzer designed to measure a concentration of 300 parts per million by volume of perchloroethylene in air to an accuracy of ± 75 parts per million by volume; and ( 2) Use the colorimetric detector tube or perchloroethylene gas analyzer according to the manufacturer's instructions; and ( 3) Conduct the weekly monitoring by inserting the colorimetric detector or perchloroethylene gas analyzer tube into the open space above the articles at the rear of the dry cleaning machine drum immediately upon opening the dry cleaning machine door.

* * * * *

6. Section 63.324 is amended by revising paragraphs ( d)( 3),

( d)( 5), and ( d)( 6) to read as follows: 105 § 63.324 Reporting and recordkeeping requirements.

* * * * *

( d) * * *

( 3) The dates when the dry cleaning system components are inspected for leaks, as specified in § 63.322( k), ( l), or ( o)( 1), and the name or location of dry cleaning system components where leaks are detected;

* * * * *

( 5) The date and temperature sensor monitoring results, as specified in § 63.323 if a refrigerated condenser is used to comply with § 63.322( a) or ( b); and ( 6) The date and monitoring results, as specified in § 63.323, if a carbon adsorber is used to comply with § 63.322( a)( 2), ( b)( 3), or ( o)( 2).

* * * * *


[Federal Register Volume 75, Number 239 (Tuesday, December 14, 2010)]
[Notices]
[Pages 77926-77928]
[FR Doc No: 2010-31288]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-63464; File No. SR-NYSEArca-2010-95]

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting
Accelerated Approval of a Proposed Rule Change To List and Trade Shares
of the ETFS Asian Gold Trust

December 8, 2010.
    On September 22, 2010, NYSE Arca, Inc. (``Exchange'' or ``NYSE
Arca'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) \1\ of the Securities
Exchange Act of 1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ a
proposed rule change to list and trade shares (``Shares'') of the ETFS
Asian Gold Trust (``Trust''). The proposed rule change was published in
the Federal Register on November 12, 2010.\4\ The Commission received
no comments on the proposal. This order approves the proposed rule
change on an accelerated basis.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ See Securities Exchange Act Release No. 63267 (November 8,
2010), 75 FR 69494 (``Notice'').
---------------------------------------------------------------------------

I. Description of the Proposal

    The Exchange proposes to list and trade Shares pursuant to NYSE
Arca Equities Rule 8.201, which governs the listing and trading of
Commodity-Based Trust Shares. The Exchange represents that the Shares
satisfy the requirements of NYSE Arca Equities Rule 8.201 and thereby
qualify for listing on the Exchange.
    The Trust will issue Shares, which represent units of fractional
undivided beneficial interest in and ownership of the Trust. The
investment objective of the Trust is for the Shares to reflect the
performance of the price of gold bullion, less the expenses of the
Trust's operations.\5\
---------------------------------------------------------------------------

    \5\ See the Registration Statement for the Trust on Form S-1,
filed with the Commission on July 22, 2010 (No. 333-168277)
(``Registration Statement''). The descriptions of the Trust, the
Shares and the gold market contained in the Notice are based on the
Registration Statement.
---------------------------------------------------------------------------

    The Exchange deems the Shares to be equity securities, which
subjects the Shares to the Exchange's existing rules

governing the trading of equity securities, and has represented that
trading of the Shares on the Exchange, will occur in accordance with
NYSE Arca Equities Rule 7.34(a). The Exchange also has represented that
it has appropriate rules to facilitate transactions in the Shares
during all trading sessions.
    Additional details regarding the Shares and Trust including, among
other things, creations and redemptions of the Shares, the organization
and structure of the Trust, custody of the Trust's holdings, Trust
expenses, Trust termination events, the Singapore and London gold
markets, the gold futures markets, and the gold markets generally, the
dissemination and availability of information about the underlying
assets, trading halts, applicable trading rules, surveillance, and the
Information Bulletin can be found in the Notice and/or the Registration
Statement.\6\
---------------------------------------------------------------------------

    \6\ See supra notes 4 and 5.
---------------------------------------------------------------------------

II. Discussion and Commission Findings

    After careful consideration, the Commission finds that the proposed
rule change to list and trade the Shares is consistent with the
requirements of the Act and the rules and regulations thereunder
applicable to a national securities exchange.\7\ In particular, the
Commission finds that the proposed rule change is consistent with the
requirements of Section 6(b)(5) of the Act,\8\ which requires, among
other things, that the Exchange's rules be designed to prevent
fraudulent and manipulative acts and practices, 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 mechanism of a
free and open market and a national market system, and, in general, to
protect investors and the public interest.
---------------------------------------------------------------------------

    \7\ In approving the proposed rule change, the Commission notes
that it has considered the proposed rule's impact on efficiency,
competition, and capital formation. See 15 U.S.C. 78c(f).
    \8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In addition, the Commission finds that the proposal to list and
trade the Shares on the Exchange is consistent with Section
11A(a)(1)(C)(iii) of the Act,\9\ which sets forth Congress' finding
that it is in the public interest and appropriate for the protection of
investors and the maintenance of fair and orderly markets to assure the
availability to brokers, dealers and investors of information with
respect to quotations for and transactions in securities. The Exchange
states that there is a considerable amount of gold price and gold
market information available on public Web sites and through
professional and subscription services as discussed below. For example,
investors may obtain on a 24-hour basis gold pricing information based
on the spot price for an ounce of gold from various financial
information service providers, such as Reuters and Bloomberg. Reuters
and Bloomberg provide at no charge on their Web sites delayed
information regarding the spot price of gold and last sale prices of
gold futures, as well as information about news and developments in the
gold market. Reuters and Bloomberg also offer a professional service to
subscribers for a fee that provides information on gold prices directly
from market participants. An organization named EBS provides an
electronic trading platform to institutions such as bullion banks and
dealers for the trading of spot gold, as well as a feed of live
streaming prices to Reuters and Moneyline Telerate subscribers.
Complete real-time data for gold futures and options prices traded on
the COMEX are available by subscription from Reuters and Bloomberg.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
---------------------------------------------------------------------------

    In addition, the Trust's Web site will provide the following
information: (1) An intraday indicative value (``IIV'') per share for
the Shares, updated at least every 15 seconds, as calculated by the
Exchange or a third party financial data provider, during the
Exchange's Core Trading Session (9:30 a.m. to 4 p.m., Eastern Standard
Time); and (2) the Creation Basket Deposit and net asset value
(``NAV'') of the Trust as calculated each business day by the Sponsor.
In addition, the Web site for the Trust will contain the following
information, on a per Share basis, for the Trust: (1) The mid-point of
the bid-ask price \10\ at the close of trading in relation to the NAV
as of the time the NAV is calculated (``Bid/Ask Price''), and a
calculation of the premium or discount of such price against such NAV;
and (2) data in chart format displaying the frequency distribution of
discounts and premiums of the Bid/Ask Price against the NAV, within
appropriate ranges, for each of the four previous calendar quarters.
The Web site for the Trust will also provide the Trust's prospectus, as
well as the two most recent reports to stockholders. Finally, the Trust
Web site will provide the last sale price of the Shares as traded in
the US market.
---------------------------------------------------------------------------

    \10\ The bid-ask price of the Trust is determined using the
highest bid and lowest offer on the Consolidated Tape as of the time
of calculation of the closing day NAV.
---------------------------------------------------------------------------

    The Exchange will provide on its Web site http://www.nyx.com a link
to the Trust's Web site. In addition, the Exchange will make available
over the Consolidated Tape quotation information, trading volume,
closing prices and NAV for the Shares from the previous day. The NYMEX
also provides delayed futures and options information on current and
past trading sessions and market news free of charge on its Web site.
There are a variety of other public Web sites providing information on
gold, ranging from those specializing in precious metals to sites
maintained by major newspapers, such as The Wall Street Journal. In
addition, the London AM Fix and London PM Fix are publicly available at
no charge at or http://www.thebulliondesk.com.
    The Commission further believes that the proposal to list and trade
the Shares is reasonably designed to promote fair disclosure of
information that may be necessary to price the Shares appropriately and
to prevent trading when a reasonable degree of transparency cannot be
assured. The Exchange states that it will obtain a representation from
the Trust that the NAV will be calculated daily and made available to
all market participants at the same time.\11\
---------------------------------------------------------------------------

    \11\ See e-mail from Timothy J. Malinowski, Senior Director,
NYSE Euronext, to Christopher W. Chow, Special Counsel, and Steve
Varholik, Special Counsel, Commission, dated December 1, 2010.
---------------------------------------------------------------------------

    Following the initial 12-month period following commencement of
trading, the Exchange will consider the suspension of trading in Shares
or removing Shares from listing if, among other things: (1) The value
of the underlying commodity is no longer calculated or available on at
least a 15-second delayed basis from a source unaffiliated with the
sponsor, Trust, custodian or the Exchange; (2) the Exchange stops
providing a hyperlink on its Web site to any such unaffiliated
commodity value; or (3) the IIV is no longer made available on at least
a 15-second delayed basis.\12\ Under NYSE Arca Equities Rule
7.34(a)(5), if the Exchange becomes aware that the NAV is not being
disseminated to all market participants at the same time, it must halt
trading on the NYSE Marketplace until such time as the NAV is available
to all market participants. With respect to trading halts, the Exchange
may consider all relevant factors in exercising its discretion to halt
or suspend trading in the Shares. These may include: (1) The extent to
which conditions in the underlying gold

markets have caused disruptions and/or lack of trading; or (2) whether
other unusual conditions or circumstances detrimental to the
maintenance of a fair and orderly market are present. In addition,
trading in Shares will be subject to trading halts caused by
extraordinary market volatility pursuant to the Exchange's ``circuit
breaker'' rule.\13\
---------------------------------------------------------------------------

    \12\ See NYSE Arca Equities Rule 8.201(e)(2).
    \13\ See NYSE Arca Equities Rule 7.12.
---------------------------------------------------------------------------

    Further, NYSE Arca Equities Rule 8.201 sets forth certain
restrictions on ETP Holders acting as registered Market Makers in the
Shares to facilitate surveillance. Pursuant to NYSE Arca Equities Rule
8.201(g), an ETP Holder acting as a registered Market Maker in the
Shares is required to provide the Exchange with information relating to
its trading in the applicable underlying commodity, related commodity
futures or options on commodity futures, or any other related commodity
derivatives. Commentary .04 of NYSE Arca Equities Rule 6.3 requires an
ETP Holder acting as a registered Market Maker in Commodity-Based Trust
Shares to establish, maintain and enforce written policies and
procedures reasonably designed to prevent the misuse of any material
nonpublic information with respect to such products, any components of
the related products, any physical asset or commodity underlying the
product, applicable currencies, underlying indexes, related futures or
options on futures, and any related derivative instruments.
    In support of this proposal, the Exchange has made representations,
including the following:
    (1) The Shares will be subject to the initial and continued listing
criteria under NYSE Arca Equities Rule 8.201(e).
    (2) The Exchange's surveillance procedures are adequate to properly
monitor Exchange trading of the Shares in all trading sessions and to
deter and detect violations of Exchange rules and applicable federal
securities laws. In addition, the Exchange may obtain trading
information via the Intermarket Surveillance Group (``ISG'') from other
exchanges who are members of the ISG.
    (3) Prior to the commencement of trading, the Exchange will inform
its ETP Holders in an Information Bulletin of the special
characteristics and risks associated with trading the Shares.
Specifically, the Information Bulletin will discuss the following: (a)
The procedures for purchases and redemptions of Shares in Baskets
(including noting that Shares are not individually redeemable); (b)
NYSE Arca Equities Rule 9.2(a), which imposes a duty of due diligence
on its ETP Holders to learn the essential facts relating to every
customer prior to trading the Shares; (c) how information regarding the
IIV is disseminated; (d) the requirement that ETP Holders deliver a
prospectus to investors purchasing newly issued Shares prior to or
concurrently with the confirmation of a transaction; (d) the
possibility that trading spreads and the resulting premium or discount
on the Shares may widen as a result of reduced liquidity of gold
trading during the Core and Late Trading Sessions after the close of
the major world gold markets; and (e) trading information. In addition,
the Information Bulletin will reference that the Trust is subject to
various fees and expenses described in the Registration Statement. The
Information Bulletin will also reference the fact that there is no
regulated source of last sale information regarding physical gold, that
the Commission has no jurisdiction over the trading of gold as a
physical commodity, and that the CFTC has regulatory jurisdiction over
the trading of gold futures contracts and options on gold futures
contracts.
    This approval order is based on the Exchange's representations.
    The Commission finds good cause, pursuant to Section 19(b)(2) of
the Act,\14\ for approving the proposed rule change prior to the 45th
day after publication of notice in the Federal Register. The Commission
does not believe that the Exchange's proposal to list and trade the
Shares presents any novel regulatory issues. The Commission has
previously approved proposals by the Exchange to list and trade shares
of similar trusts that hold gold bullion pursuant to NYSE Arca Equities
Rule 8.201.\15\ Additionally, the Commission has previously approved
proposals to list and trade shares of trusts that hold other
commodities such as platinum, palladium, and silver pursuant to NYSE
Arca Equities Rule 8.201.\16\
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78s(b)(2).
    \15\ See, e.g., Securities Exchange Act Release No. 59895 (May
8, 2009), 74 FR 22993 (May 15, 2009) (SR-NYSEArca-2009-40).
    \16\ See Notice, supra note 4, 75 FR at 69495, nn. 5-11.
---------------------------------------------------------------------------

III. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\17\ that the proposed rule change (SR-NYSEArca-2010-95) be, and it
hereby is, approved on an accelerated basis.
---------------------------------------------------------------------------

    \17\ 15 U.S.C.78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
---------------------------------------------------------------------------

    \18\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-31288 Filed 12-13-10; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 76, Number 119 (Tuesday, June 21, 2011)]
[Notices]
[Page 36107]
[FR Doc No: 2011-15422]

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

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings

    Take notice that the Commission has received the following Natural
Gas Pipeline Rate and Refund Report filings:
    Docket Numbers: RP11-2191-000.
    Applicants: CenterPoint Energy--Mississippi River Transmission,
LLC.
    Description: CenterPoint Energy--Mississippi River Transmission,
LLC submits tariff filing per 154.204: Non-Conforming ITS TSA between
MRT and Trigen to be effective 7/16/2011.
    Filed Date: 06/15/2011.
    Accession Number: 20110615-5042.
    Comment Date: 5 p.m. Eastern Time on Monday, June 27, 2011.

    Docket Numbers: RP11-2192-000, RP11-2192-001.
    Applicants: Big Sandy Pipeline, LLC.
    Description: Big Sandy Pipeline, LLC submits tariff filing per
154.601: Changes to Big Sandy Negotiated Rate Service Agreements to be
effective 6/1/2011.
    Filed Date: 06/15/2011.
    Accession Number: 20110615-5092.
    Comment Date: 5 p.m. Eastern Time on Monday, June 27, 2011.

    Docket Numbers: RP11-2193-000.
    Applicants: Northern Natural Gas Company.
    Description: Northern Natural Gas Company submits tariff filing per
154.204: 20110615-1 MUD Non-conforming to be effective 7/16/2011.
    Filed Date: 06/15/2011.
    Accession Number: 20110615-5093.
    Comment Date: 5 p.m. Eastern Time on Monday, June 27, 2011.

    Docket Numbers: RP11-2194-000.
    Applicants: Northern Natural Gas Company.
    Description: Northern Natural Gas Company submits tariff filing per
154.204: 20110615-2 Denver City--Golden Spread Non-conforming to be
effective 7/16/2011.
    Filed Date: 06/15/2011.
    Accession Number: 20110615-5119.
    Comment Date: 5 p.m. Eastern Time on Monday, June 27, 2011.

    Docket Numbers: RP11-2195-000.
    Applicants: El Paso Natural Gas Company.
    Description: El Paso Natural Gas Company submits tariff filing per
154.204: HEEN Enhancement to be effective 8/1/2011.
    Filed Date: 06/16/2011.
    Accession Number: 20110616-5028.
    Comment Date: 5 p.m. Eastern Time on Tuesday, June 28, 2011.

    Any person desiring to intervene or to protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Rules of Practice and Procedure (18 CFR 385.211 and
385.214) on or before 5:00 p.m. Eastern time on the specified comment
date. It is not necessary to separately intervene again in a subdocket
related to a compliance filing if you have previously intervened in the
same docket. Protests will be considered by the Commission in
determining the appropriate action to be taken, but will not serve to
make protestants parties to the proceeding. Anyone filing a motion to
intervene or protest must serve a copy of that document on the
Applicant. In reference to filings initiating a new proceeding,
interventions or protests submitted on or before the comment deadline
need not be served on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with Internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically should submit an original and
14 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First St., NE., Washington, DC 20426.
    The filings in the above proceedings are accessible in the
Commission's eLibrary system by clicking on the appropriate link in the
above list. They are also available for review in the Commission's
Public Reference Room in Washington, DC. There is an eSubscription link
on the web site that enables subscribers to receive e-mail notification
when a document is added to a subscribed docket(s). For assistance with
any FERC Online service, please e-mail<EMAIL_ADDRESS>or
call<PHONE_NUMBER> (toll free). For TTY, call<PHONE_NUMBER>.

    Dated: June 16, 2011.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2011-15422 Filed 6-20-11; 8:45 am]
BILLING CODE 6717-01-P


From:		Bill Schrock/RTP/USEPA/US

To:		"Higgins, Cortney"<EMAIL_ADDRESS>
Cc:	John Bradfield/RTP/USEPA/US@EPA, Kelley Spence/RTP/USEPA/US@EPA,
Robin Dunkins/RTP/USEPA/US@EPA

Date:		07/05/2012 11:09 AM

Subject:	Re: Pulp and Paper RTR draft final rule

________________________________________

Cortney - Robin is out this week but she will be back in the office on
Monday. I'll try to get Joan to set the meeting up for Monday or
Tuesday-are those times still good? Also, we'll be getting the rest of
the memos/supporting documents out to you later today. Let me know if
you need anything else. Thanks

Bill Schrock

U.S. EPA

RTP, NC  27709

(919) 541-5032

(919) 541-3470 (fax)


[Federal Register Volume 85, Number 156 (Wednesday, August 12, 2020)]
[Notices]
[Page 48764]
[FR Doc No: 2020-17600]

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

DEPARTMENT OF TRANSPORTATION

Pipeline and Hazardous Materials Safety Administration

Hazardous Materials: Notice of Applications for Modifications to
Special Permits

AGENCY: Pipeline and Hazardous Materials Safety Administration (PHMSA),
DOT.

ACTION: List of applications for modification of special permits.

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

SUMMARY: In accordance with the procedures governing the application
for, and the processing of, special permits from the Department of
Transportation's Hazardous Material Regulations, notice is hereby given
that the Office of Hazardous Materials Safety has received the
application described herein. Each mode of transportation for which a
particular special permit is requested is indicated by a number in the
``Nature of Application'' portion of the table below as follows: 1--
Motor vehicle, 2--Rail freight, 3--Cargo vessel, 4--Cargo aircraft
only, 5--Passenger-carrying aircraft.

DATES: Comments must be received on or before August 27, 2020.

ADDRESSES: Record Center, Pipeline and Hazardous Materials Safety
Administration, U.S. Department of Transportation, Washington, DC
20590.
    Comments should refer to the application number and be submitted in
triplicate. If confirmation of receipt of comments is desired, include
a self-addressed stamped postcard showing the special permit number.

FOR FURTHER INFORMATION CONTACT: Donald Burger, Chief, Office of
Hazardous Materials Approvals and Permits Division, Pipeline and
Hazardous Materials Safety Administration, U.S. Department of
Transportation, East Building, PHH-30, 1200 New Jersey Avenue
Southeast, Washington, DC 20590-0001,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Copies of the applications are available for
inspection in the Records Center, East Building, PHH-30, 1200 New
Jersey Avenue Southeast, Washington, DC.
    This notice of receipt of applications for special permit is
published in accordance with part 107 of the Federal hazardous
materials transportation law (49 U.S.C. 5117(b); 49 CFR 1.53(b)).

    Issued in Washington, DC, on August 3, 2020.
Donald P. Burger,
Chief, General Approvals and Permits Branch.

                                              Special Permits Data
----------------------------------------------------------------------------------------------------------------
                                                                                Nature of the special permits
       Application No.                Applicant           Regulation(s) affected              thereof
----------------------------------------------------------------------------------------------------------------
10880-M.....................  Austin Powder Company....  172.101(i), 173.35(b),    To modify the special permit
                                                          177.835(a),               to authorize cargo vessel as
                                                          177.848(g)(3).            an approved mode of
                                                                                transport. (modes 1, 3).
11110-M.....................  United Parcel Service Co.  171.8, 175.75...........  To modify the special permit
                                                                                to authorize additional
                                                                                airlines to use the permit.
                                                                                (mode 4).
11156-M.....................  Orica USA Inc............  173.212(b), 173.62(c)...  To modify the special permit
                                                                                to authorize an alternative
                                                                                bag closure (glued seam).
                                                                                (modes 1, 3).
13220-M.....................  Entegris, Inc............  173.302, 173.302c.......  To modify the special permit
                                                                                to harmonize internal
                                                                                pressure limits and test
                                                                                pressures with UN Model
                                                                                Regulations, (modes 1, 2,
                                                                                3).
15483-M.....................  National Aeronautics And   173.302a................  To modify the special permit
                               Space Administration.                                to authorize a different 2.2
                                                                                gas to be incorporated into
                                                                                the permit. (modes 1, 2, 3,
                                                                                4, 5).
16274-M.....................  Matheson Tri-gas, Inc....  173.13(c)(2)(i),          To modify the special permit
                                                          173.13(c)(2)(ii),         to authorize an additional
                                                          173.13(c)(2)(iii).        Division 4.3 material.
                                                                                (modes 1, 4).
16318-M.....................  Technical Chemical         173.304(d), 173.167(a)..  To modify the special permit
                               Company.                                             to authorize an additional
                                                                                2.1 hazmat. (modes 1, 2, 3,
                                                                                4, 5).
20588-M.....................  Nantong Tank Container     178.274(b)(1),            To modify the special permit
                               Co., Ltd.                  178.276(a)(2),            to authorize a reduction in
                                                          178.276(b)(1).            minimum design pressure and
                                                                                to increase the maximum
                                                                                water capacity. (modes 1, 2,
                                                                                3).
----------------------------------------------------------------------------------------------------------------

[FR Doc. 2020-17600 Filed 8-11-20; 8:45 am]
BILLING CODE 4909-60-P


fireworks launch
                                                    barge in approximate
                                                    position latitude
                                                    36[deg]17'47'' N,
                                                    longitude
                                                    076[deg]12'17'' W,
                                                    located
                                                    approximately 400
                                                    yards north of
                                                    Cottage Point, NC.
5............  July 4th, or      Currituck Sound,  All waters of the
                July 5th.         Corolla, NC,      Currituck Sound
                                  Safety Zone.      within a 300 yard
                                                    radius of the
                                                    fireworks barge in
                                                    approximate position
                                                    latitude
                                                    36[deg]22'23.8'' N,
                                                    longitude
                                                    075[deg]49'56.3'' W.
6............  July 4th........  Middle Sound,     All waters of the
               November--3rd      Figure Eight      Figure Eight Island
                Saturday.         Island, NC,       Causeway Channel
                                  Safety Zone.      from latitude
                                                    34[deg]16'32'' N,
                                                    longitude
                                                    077[deg]45'32'' W,
                                                    thence east along
                                                    the marsh to a
                                                    position located at
                                                    latitude
                                                    34[deg]16'19'' N,
                                                    longitude
                                                    077[deg]44'55'' W,
                                                    thence south to the
                                                    causeway at position
                                                    latitude
                                                    34[deg]16'16'' N,
                                                    longitude
                                                    077[deg]44'58'' W,
                                                    thence west along
                                                    the shoreline to
                                                    position latitude
                                                    34[deg]16'29'' N,
                                                    longitude
                                                    077[deg]45'34'' W,
                                                    thence back to the
                                                    point of origin.
7............  June--2nd         Pamlico River,    All waters of Pamlico
                Saturday.         Washington, NC,   River and Tar River
               July 4th........   Safety Zone.      within a 300 yard
                                                    radius of latitude
                                                    35[deg]32'25'' N,
                                                    longitude
                                                    077[deg]03'42'' W, a
                                                    position located on
                                                    the southwest shore
                                                    of the Pamlico
                                                    River, Washington,
                                                    NC.
8............  July 4th........  Neuse River, New  All waters of the
                                  Bern, NC,         Neuse River within a
                                  Safety Zone.      360 yard radius of
                                                    the fireworks barge
                                                    in approximate
                                                    position latitude
                                                    35[deg]06'07.1'' N,
                                                    longitude
                                                    077[deg]01'35.8'' W;
                                                    located 420 yards
                                                    north of the New
                                                    Bern, Twin Span,
                                                    high rise bridge.
9............  July 4th........  Edenton Bay,      All waters within a
                                  Edenton, NC,      300 yard radius of
                                  Safety Zone.      position latitude
                                                    36[deg]03'04'' N,
                                                    longitude
                                                    076[deg]36'18'' W,
                                                    approximately 150
                                                    yards south of the
                                                    entrance to Queen
                                                    Anne Creek, Edenton,
                                                    NC.
10...........  July 4th........  Motts Channel,    All waters of Motts
               November--Saturd   Banks Channel,    Channel within a 500
                ay following      Wrightsville      yard radius of the
                Thanksgiving.     Beach, NC,        fireworks launch
                                  Safety Zone.      site in approximate
                                                    position latitude
                                                    34[deg]12'29'' N,
                                                    longitude
                                                    077[deg]48'27'' W,
                                                    approximately 560
                                                    yards south of Sea
                                                    Path Marina,
                                                    Wrightsville Beach,
                                                    NC.
11...........  July 4th........  Cape Fear River,  All waters of the
                                  Southport, NC,    Cape Fear River
                                  Safety Zone.      within a 600 yard
                                                    radius of the
                                                    fireworks barge in
                                                    approximate position
                                                    latitude
                                                    33[deg]54'40'' N,
                                                    longitude
                                                    078[deg]01'18'' W,
                                                    approximately 700
                                                    yards south of the
                                                    waterfront at
                                                    Southport, NC.
12...........  July 4th........  Big Foot Slough,  All waters of Big
                                  Ocracoke, NC,     Foot Slough within a
                                  Safety Zone.      300 yard radius of
                                                    the fireworks launch
                                                    site in approximate
                                                    position latitude
                                                    35[deg]06'54'' N,
                                                    longitude
                                                    075[deg]59'24'' W,
                                                    approximately 100
                                                    yards west of the
                                                    Silver Lake Entrance
                                                    Channel at Ocracoke,
                                                    NC.

13...........  August--1st       New River,        All waters of the New
                Tuesday.          Jacksonville,     River within a 300
                                  NC, Safety Zone.  yard radius of the
                                                    fireworks launch
                                                    site in approximate
                                                    position latitude
                                                    34[deg]44'45'' N,
                                                    longitude
                                                    077[deg]26'18'' W,
                                                    approximately one
                                                    half mile south of
                                                    the Hwy 17 Bridge,
                                                    Jacksonville, North
                                                    Carolina.
14...........  July 4th........  Pantego Creek,    All waters on the
                                  Belhaven, NC,     Pantego Creek within
                                  Safety Zone.      a 600 foot radius of
                                                    the launch site on
                                                    land at position
                                                    35[deg]32'35'' N,
                                                    076[deg]37'46'' W.
------------------------------------------------------------------------

* * * * *

    Dated: February 11, 2013.
Steven H. Ratti,
Rear Admiral, U.S. Coast Guard Commander, Fifth Coast Guard District.
[FR Doc. 2013-04622 Filed 2-27-13; 8:45 am]
BILLING CODE 9110-04-P