[Federal Register: September 23, 2009 (Volume 74, Number 183)]
[Notices]
[Page 48623-48624]
[DOCID:fr23se09-130]

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DEPARTMENT OF TRANSPORTATION

Federal Railroad Administration

[Docket No. FRA-2009-0001-N-21]

Proposed Agency Information Collection Activities; Comment
Request

AGENCY: Federal Railroad Administration, DOT.

ACTION: Notice and request for comments.

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SUMMARY: In compliance with the Paperwork Reduction Act of 1995 (44
U.S.C. 3501 et seq.), this notice announces that the Information
Collection Requirement (ICR) abstracted below has been forwarded to the
Office of Management and Budget (OMB) for review and comment. The ICR
describes the nature of the information collection and its expected
burden. The Federal Register notice with a 60-day comment period
soliciting comments on the following collection of information was
published on June 26, 2009 (74 FR 30662).

DATES: Comments must be submitted on or before October 23, 2009.

FOR FURTHER INFORMATION CONTACT: Mr. Robert Brogan, Office of Safety,
Planning and Evaluation Division, RRS-21, Federal Railroad
Administration, 1200 New Jersey Ave., SE., 3rd Floor, Mail Stop 25,
Washington, DC 20590 (telephone:<PHONE_NUMBER>), or Ms. Nakia Jackson,
Office of Information Technology, RAD-20, Federal Railroad
Administration, 1200 New Jersey Ave., SE., 3rd Floor, Mail Stop 35,
Washington, DC 20590 (telephone:<PHONE_NUMBER>). (These telephone
numbers are not toll-free.)

SUPPLEMENTARY INFORMATION: The Paperwork Reduction Act of 1995 (PRA),
Public Law 104-13, Section 2, 109 Stat. 163 (1995) (codified as revised
at 44 U.S.C. 3501-3520), and its implementing regulations, 5 CFR Part
1320, require Federal agencies to issue two notices seeking public
comment on information collection activities before OMB may approve
paperwork packages. 44 U.S.C. 3506, 3507; 5 CFR 1320.5, 1320.8(d)(1),
1320.12. On June 26, 2009, FRA published a 60-day notice in the Federal
Register soliciting comment on this ICR that the agency was seeking OMB
approval. 74 FR 30662. FRA received no comments in response to this
notice.
    Before OMB decides whether to approve these proposed collections of
information, it must provide 30-days for public comment. 44 U.S.C.
3507(b); 5 CFR 1320.12(d). Federal law requires OMB to approve or
disapprove paperwork packages between 30 and 60 days after the 30-day
notice is published. 44 U.S.C. 3507 (b)-(c); 5 CFR 1320.12(d); see also
60 FR 44978, 44983, Aug. 29, 1995. OMB believes that the 30-day notice
informs the regulated community to file relevant comments and affords
the agency adequate time to digest public comments before it renders a
decision. 60 FR 44983, Aug. 29, 1995. Therefore, respondents should
submit their respective comments to OMB within 30 days of publication
to best ensure having their full effect. 5 CFR 1320.12(c); see also 60
FR 44983, Aug. 29, 1995.
    The summary below describes the nature of the information
collection requirement (ICR) and the expected burden for the ICR being
submitted for clearance by OMB as required by the PRA.
    Title: Notice of Funding Availability and Solicitation of
Applications for Grants under the Railroad Rehabilitation and Repair
Grant Program.
    OMB Control Number: 2130-0580.
    Type of Request: Regular Approval of a Previously Approved
Collection of Information under Emergency Clearance Procedures.
    Affected Public: 39 States/Local Governments.
    Abstract: On September 30, 2008, President Bush signed Public Law
110-329, The Consolidated Security, Disaster Assistance, and Continuing
Appropriations Act, 2009. As part of this Act, Congress provided $20
million in disaster relief funds to FRA to award to States in one or
more grants for eligible projects related to repair and rehabilitation
of Class II and Class III railroad infrastructure damaged by
hurricanes, floods, and other natural disasters in counties for which
the President declared a major disaster under title IV of the Robert T.
Stafford Disaster Relief and Emergency Assistance Act of 1974.
Approximately $5 million of these funds remain available for
rehabilitation and repairs of railroad right-of-way, bridges, signals,
and other infrastructure which are part of the general railroad system
of transportation and primarily used by railroads to move freight
traffic. The Secretary may retain up to one-half of one (1) percent of
these funds for the oversight of the design and implementation of
projects funded by grants under this Program. Funds provided under this
grant program may constitute no more than 80 percent of the total cost
of a selected project, with the remaining cost funded from other
sources. The funding provided under these grants will be made available
to

grantees on a reimbursement basis. FRA anticipates awarding grants to
multiple eligible participants. FRA may choose to award a grant or
grants within the available funds in any amount. Funding made available
through grants provided under this program, together with funding from
other sources that is committed by a grantee as part of a grant
agreement, must be sufficient to complete the funded project and
achieve the anticipated rehabilitation and repairs to Class II and
Class IIII railroads. FRA will be publishing a second Notice of Funding
Availability shortly and will begin accepting grant applications 10
days after publication of this second Notice of Funding Availability in
the Federal Register. Please see this Notice for further information.
    Form Number(s): SF-424.
    Annual Estimated Burden Hours: 4,875 hours.
    Addressee: Send comments regarding this information collection to
the Office of Information and Regulatory Affairs, Office of Management
and Budget, 725 Seventeenth Street, NW., Washington, DC 20503,
Attention: FRA Desk Officer. Comments may also be sent via e-mail to
OMB at the following address<EMAIL_ADDRESS>    Comments are invited on the following: Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Department, including whether the information will
have practical utility; the accuracy of the Department's estimate of
the burden of the proposed information collection; ways to enhance the
quality, utility, and clarity of the information to be collected; and
ways to minimize the burden of the collection of information on
respondents, including the use of automated collection techniques or
other forms of information technology.
    A comment to OMB is best assured of having its full effect if OMB
receives it within 30 days of publication of this notice in the Federal
Register.

    Authority:  44 U.S.C. 3501-3520.

    Issued in Washington, DC, on September 16, 2009.
Donna Alwine,
Acting Director, Office of Financial Management, Federal Railroad
Administration.
[FR Doc. E9-22940 Filed 9-22-09; 8:45 am]

BILLING CODE 4910-06-P


[Federal Register Volume 88, Number 179 (Monday, September 18, 2023)]
[Notices]
[Pages 64008-64010]
[FR Doc No: 2023-20083]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98362; File No. SR-EMERALD-2023-23]

Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend
Its Fee Schedule

September 12, 2023.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that, on September 6, 2023, MIAX Emerald, LLC (``MIAX Emerald'' or
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange is filing a proposal to amend the MIAX Emerald Fee
Schedule (``Fee Schedule'').
    The text of the proposed rule change is available on the Exchange's
website at https://www.miaxglobal.com/markets/us-options/emerald-options/rule-filings, at MIAX's principal office, and at the
Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to amend the exchange grouping of options
exchanges within the routing fee table in Section 1)b) of the Fee
Schedule, Fees for Customer Orders Routed to Another Options Exchange,
to add applicable Member \3\ orders routed to MEMX LLC (``MEMX''), in
anticipation of the launch of MEMX Options, the new options trading
facility of MEMX.\4\ The Exchange originally filed this proposal on
August 31, 2023 (SR-EMERALD-2023-22). On September 6, 2023, the
Exchange withdrew SR-EMERALD-2023-22 and refiled this proposal. The
proposed changes are immediately effective.
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    \3\ The term ``Member'' means an individual or organization
approved to exercise the trading rights associated with a Trading
Permit. Members are deemed ``members'' under the Exchange Act. See
Exchange Rule 100.
    \4\ See Securities Exchange Act Release No. 95445 (August 8,
2022), 87 FR 49894 (August 12, 2022) (SR-MEMX-2022-10) (Notice of
Filing of Amendment No. 1 and Order Granting Accelerated Approval of
a Proposed Rule Change, as Modified by Amendment No. 1, to Adopt
Rules to Govern the Trading of Options on the Exchange for a New
Facility Called MEMX Options).
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    Currently, the Exchange assesses routing fees based upon (i) the
origin type of the order; (ii) whether or not it is an order for
standard option classes in the Penny Interval Program \5\ (``Penny
classes'') or an order for standard option classes which are not in the
Penny Interval Program (``Non-Penny classes'') (or other explicitly
identified classes); and (iii) to which away market it is being routed.
This assessment practice is identical to the routing fees assessment
practice currently utilized by the Exchange's affiliates, Miami
International Securities Exchange, LLC (``MIAX Options'') and MIAX
PEARL, LLC (``MIAX Pearl''). This is also similar to the methodology
utilized by the Cboe BZX Exchange, Inc. (``Cboe BZX Options''), a
competing options exchange, in assessing routing fees. Cboe BZX Options
has exchange groupings in its fee schedule, similar to those of the
Exchange, whereby several exchanges are grouped into the same category,
dependent upon the order's origin type and whether it is a Penny or
Non-Penny class.\6\
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    \5\ See Exchange Rule 510(c).
    \6\ See Cboe U.S. Options Fee Schedules, BZX Options, ``Fee
Codes and Associated Fees,'' at https://www.cboe.com/us/options/membership/fee_schedule/bzx/ (last visited September 6, 2023).
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    As a result of the anticipated launch of the options trading
facility of MEMX in the third quarter of 2023, the Exchange has
determined to amend the exchange groupings of options exchanges within
the routing fee table to include MEMX and the anticipated associated
costs of routing customer orders to MEMX for execution. The impact of
this proposed change will be increased routing options for Members. The
Exchange notes that routing through the Exchange is optional and that
Members will continue to be able to choose where to route applicable
Member orders. Under this proposed change, the Exchange will not amend
the fees associated with the exchange groupings. This proposal merely
seeks to add MEMX to the exchange groupings as described in the routing
fee table below.
    According, with the proposed change, the routing fee table will be
as follows:

------------------------------------------------------------------------
                       Description                             Fees
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Routed, Priority Customer, Penny Program, to: NYSE                 $0.15
 American, BOX, Cboe, Cboe EDGX Options, MIAX, Nasdaq
 PHLX (except SPY)......................................
Routed, Priority Customer, Penny Program, to: Nasdaq MRX            0.30
Routed, Priority Customer, Penny Program, to: NYSE Arca             0.65
 Options, Cboe BZX Options, Cboe C2, Nasdaq GEMX, Nasdaq
 ISE, NOM, Nasdaq PHLX (SPY only), MIAX Pearl, Nasdaq BX
 Options, MEMX..........................................
Routed, Priority Customer, Non-Penny Program, to: NYSE              0.15
 American, BOX, Cboe, Cboe EDGX Options, MIAX, Nasdaq
 ISE, Nasdaq PHLX.......................................
Routed, Priority Customer, Non-Penny Program, to: Nasdaq            0.50
 MRX....................................................
Routed, Priority Customer, Non-Penny Program, to: NYSE              1.00
 Arca Options, Cboe BZX Options, Cboe C2, MIAX Pearl,
 Nasdaq GEMX, NOM, Nasdaq BX Options, MEMX..............
Routed, Public Customer that is not a Priority Customer,            0.65
 Penny Program, to: NYSE American, NYSE Arca Options,
 Cboe BZX Options, BOX, Cboe, Cboe C2, Cboe EDGX
 Options, Nasdaq GEMX, Nasdaq ISE, Nasdaq MRX, MIAX,
 MIAX Pearl, NOM, Nasdaq PHLX, Nasdaq BX Options, MEMX..

Routed, Public Customer that is not a Priority Customer,            1.00
 Non-Penny Program, to: MIAX, NYSE American, Cboe,
 Nasdaq PHLX, Cboe EDGX Options.........................
Routed, Public Customer that is not a Priority Customer,            1.15
 Non-Penny Program, to: Cboe C2, BOX, NOM, Nasdaq ISE...
Routed, Public Customer that is not a Priority Customer,            1.25
 Non-Penny Program, to: Cboe BZX Options, NYSE Arca
 Options, Nasdaq GEMX, Nasdaq MRX, Nasdaq BX Options,
 MIAX Pearl, MEMX.......................................
------------------------------------------------------------------------

    In determining to amend its routing fee table to determine which
category MEMX belongs to the Exchange took into account anticipated
transaction fees and rebates assessed by the away markets to which the
Exchange routes orders, as well as the Exchange's clearing costs,
administrative, regulatory, and technical costs associated with routing
orders to an away market. The Exchange uses unaffiliated routing
brokers to route orders to the away markets; the costs associated with
the use of these services are included in the routing fees specified in
the Fee Schedule. This routing fees structure is not only similar to
the Exchange's affiliates, MIAX Pearl and MIAX Options, but is also
comparable to the structure in place at Cboe BZX Options,\7\ a
competing options exchange. The Exchange's routing fee structure
approximates the Exchange's costs associated with routing orders to
away markets. The per-contract transaction fee amount associated with
each grouping closely approximates the Exchange's all-in cost (plus an
additional, non-material amount) \8\ to execute that corresponding
contract(s) at that corresponding exchange. The Exchange notes that in
determining whether to include certain exchanges in a certain groupings
of options exchanges in the routing fee table, the Exchange considered
the transaction fees and rebates assessed by away markets, and
determined to amend the grouping of exchanges that assess transaction
fees for routed orders within a similar range. This same logic and
structure applies to all of the groupings in the routing fee table. By
utilizing the same structure that is utilized by the Exchange's
affiliates, MIAX Pearl and MIAX Options, the Exchange's Members will be
assessed routing fees in a similar manner. The Exchange believes that
this structure will minimize any confusion as to the method of
assessing routing fees between the three exchanges. The Exchange notes
that its affiliates, MIAX Pearl and MIAX Options, will file to make the
same proposed routing fee changes contained herein.
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    \7\ The Cboe BZX Options fee schedule is similar to the
Exchange's Fee Schedule in that it has exchange groupings, whereby
several exchanges are grouped into the same category. See supra note
6. Furthermore, Cboe BZX Options recently filed with the Commission
a proposal to amend fee codes RQ and RR to include MEMX in those
exchange groupings. See Securities Exchange Act Release No. 98126
(August 14, 2023), 88 FR 56681 (August 18, 2023) (SR-CboeBZX-2023-
056) (Notice of Filing and Immediate Effectiveness of a Proposed
Rule Change To Amend Its Fee Schedule).
    \8\ This amount is to cover de minimis differences/changes to
away market fees (i.e., minor increases or decreases) that would not
necessitate a fee filing by the Exchange to re-categorize the away
exchange into a different grouping. Routing fees are not intended to
be a profit center for the Exchange and the Exchange's target
regarding routing fees and expenses is to be as close as possible to
net neutral.
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2. Statutory Basis
    The Exchange believes that its proposal to amend its Fee Schedule
is consistent with Section 6(b) of the Act \9\ in general, and furthers
the objectives of Section 6(b)(4) of the Act \10\ in particular, in
that it is an equitable allocation of reasonable dues, fees, and other
charges among its Members and issuers and other persons using its
facilities. The Exchange also believes the proposal furthers the
objectives of Section 6(b)(5) of the Act \11\ in that it is designed to
promote just and equitable principles of trade, to remove impediments
to and perfect the mechanism of a free and open market and a national
market system, and, in general to protect investors and the public
interest and is not designed to permit unfair discrimination between
customers, issuers, brokers and dealers.
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    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(4).
    \11\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes the proposed change to add the new options
facility of MEMX to the exchange groupings of options exchanges within
the routing fee table furthers the objectives of Section 6(b)(4) of the
Act and is reasonable, equitable and not unfairly discriminatory
because the proposed change will continue to apply in the same manner
to all Members that are subject to routing fees. The Exchange believes
the proposed change to add the new options facility of MEMX to the
routing fee table of exchange groupings furthers the objectives of
Section 6(b)(5) of the Act and is designed to promote just and
equitable principles of trade and is not unfairly discriminatory
because the proposed change seeks to recoup costs that will be incurred
by the Exchange when routing customer orders to MEMX on behalf of
Members and does so in the same manner to all Members that are subject
to routing fees. The costs to the Exchange to route orders to away
markets for execution primarily includes transaction fees and rebates
assessed by the away markets to which the Exchange routes orders, in
addition to the Exchange's clearing costs, administrative, regulatory
and technical costs. The Exchange believes that the proposed addition
of MEMX to the exchange groupings would increase the routing options
available to Members. The per-contract transaction fee amount
associated with each grouping approximates the Exchange's all-in cost
(plus an additional, non-material amount) to execute the corresponding
contract at the corresponding exchange.
    The Exchange believes that the proposed rule change is equitable
and not unfairly discriminatory because all Members' orders in Penny
classes and Non-Penny classes routed to MEMX will be uniformly assessed
the corresponding fee.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. The Exchange does not believe
the proposed rule change to add MEMX to the routing fee table will
impose any burden on intramarket competition. Rather, the Exchange
believes that the proposal will promote competition by increasing the
available away markets to which Members can route orders to. The
Exchange notes that another options exchange recently added MEMX to its
routing fee tables.\12\
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    \12\ See supra note 7.
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C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    Written comments were neither solicited nor received.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act,\13\ and Rule 19b-4(f)(2) \14\ 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 shall institute proceedings to determine whether
the proposed rule should be approved or disapproved.
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    \13\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \14\ 17 CFR 240.19b-4(f)(2).
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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 (https://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
file number SR-EMERALD-2023-23 on the subject line.

Paper Comments

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

All submissions should refer to file number SR-EMERALD-2023-23. 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 (https://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
a.m. and 3 p.m. Copies of the filing also will be available for
inspection and copying at the principal office of the Exchange. Do not
include personal identifiable information in submissions; you should
submit only information that you wish to make available publicly. We
may redact in part or withhold entirely from publication submitted
material that is obscene or subject to copyright protection. All
submissions should refer to file number SR-EMERALD-2023-23 and should
be submitted on or before October 10, 2023.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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    \15\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-20083 Filed 9-15-23; 8:45 am]
BILLING CODE 8011-01-P