[Federal Register Volume 88, Number 230 (Friday, December 1, 2023)]
[Notices]
[Pages 84014-84020]
[FR Doc No: 2023-26499]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-99024; File No. SR-ISE-2023-28]

Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the
Exchange's Pricing Schedule at Options 7

November 28, 2023.
    Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on November 13, 2023, Nasdaq ISE, LLC (``ISE'' or ``Exchange'') filed
with the Securities and Exchange Commission (``SEC'' or ``Commission'')
the proposed rule change as described in Items I and II below, which
Items have been prepared by the Exchange. The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend the Exchange's Pricing Schedule at
Options 7.
    The text of the proposed rule change is available on the Exchange's
website at https://listingcenter.nasdaq.com/rulebook/ise/rules, at the
principal office of the Exchange, and at the Commission's Public
Reference Room.

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

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

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

1. Purpose
    The purpose of the proposed rule change is to amend the Exchange's
Pricing Schedule at Options 7. Each change is described below.
    The Exchange initially filed the proposed pricing changes on
November 1, 2023 (SR-ISE-2023-26). On November 13, 2023, the Exchange
withdrew that filing and submitted this filing.
Background
Regular Order Fees and Rebates
    As set forth in Options 7, Section 3, the Exchange currently has a
maker/taker pricing model where all market participants (except
Priority Customers) \3\ are assessed a uniform Regular Order maker fee
of $0.70 per contract for Non-Select Symbol \4\ executions that add
liquidity on the Exchange, and a uniform Regular Order taker fee of
$0.90 per contract for Non-Select Symbol executions that remove
liquidity. Priority Customers are currently assessed a $0.86 per
contract Regular Order maker rebate in Non-Select Symbols and a $0.00
per contract Regular Order taker fee in Non-Select Symbols.
Additionally, all market participants are charged higher Regular Order
taker fees for trades in Non-Select Symbols executed against Priority
Customers. Specifically, Non-Priority Customers \5\ are charged a taker
fee of $1.10 per contract for trades executed against a Priority
Customer, while Priority Customers are charged a taker fee of $0.86 per
contract for trades executed against another Priority Customer.\6\
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    \3\ A ``Priority Customer'' is a person or entity that is not a
broker/dealer in securities, and does not place more than 390 orders
in listed options per day on average during a calendar month for its
own beneficial account(s), as defined in Nasdaq ISE Options 1,
Section 1(a)(37).
    \4\ ``Non-Select Symbols'' are options overlying all symbols
excluding Select Symbols. ``Select Symbols'' are options overlying
all symbols listed on the Exchange that are in the Penny Interval
Program.
    \5\ ``Non-Priority Customers'' include Market Makers, Non-Nasdaq
ISE Market Makers (FarMMs), Firm Proprietary/Broker-Dealers, and
Professional Customers.
    \6\ See Options 7, Section 3, note 3.
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    As it relates to the $0.86 per contract Priority Customer Regular
Order maker

rebate described above, the Exchange also currently offers Members an
additional rebate of $0.14 per contract if they execute more than 0.06%
of Regular Order Non-Select Symbol Priority Customer volume (excluding
Crossing Orders \7\ and Responses to Crossing Orders) \8\ calculated as
a percentage of Customer Total Consolidated Volume \9\ per day in a
given month (``Note 15 Incentive'').\10\ The Note 15 Incentive is
designed to encourage Members to transact in greater Regular Order Non-
Select Symbol Priority Customer volume on the Exchange to receive
rebates up to $1.00 per contract (i.e., the current $0.86 base maker
rebate plus the additional $0.14 Note 15 Incentive).
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    \7\ A ``Crossing Order'' is an order executed in the Exchange's
Facilitation Mechanism, Solicited Order Mechanism, Price Improvement
Mechanism (PIM) or submitted as a Qualified Contingent Cross order.
For purposes of this Pricing Schedule, orders executed in the Block
Order Mechanism are also considered Crossing Orders.
    \8\ ``Responses to Crossing Order'' is any contra-side interest
submitted after the commencement of an auction in the Exchange's
Facilitation Mechanism, Solicited Order Mechanism, Block Order
Mechanism or PIM.
    \9\ ``Customer Total Consolidated Volume'' means the total
national volume cleared at The Options Clearing Corporation in the
Customer range in equity and ETF options in that month.
    \10\ See Options 7, Section 3, note 15.
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Complex Order Fees and Rebates
    As set forth in Options 7, Section 4, the Exchange currently offers
tiered Complex Order Priority Customer rebates for Select Symbols and
Non-Select Symbols based on the Priority Customer Complex Tier
achieved.\11\ The tiered Complex Order Priority Customer rebates for
Select Symbols and Non-Select Symbols are presently as follows:
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    \11\ Priority Customer Complex Tiers are based on Total
Affiliated Member or Affiliated Entity Complex Order Volume
(Excluding Crossing Orders and Responses to Crossing Orders)
Calculated as a Percentage of Customer Total Consolidated Volume.
All Complex Order volume executed on the Exchange, including volume
executed by Affiliated Members, is included in the volume
calculation, except for volume executed as Crossing Orders and
Responses to Crossing Orders. Affiliated Entities may aggregate
their Complex Order volume for purposes of calculating Priority
Customer Rebates. The Appointed OFP would receive the rebate
associated with the qualifying volume tier based on aggregated
volume. See Options 7, Section 4, note 16.

                        Total Affiliated Member or Affiliated Entity Complex Order Volume
                          [Excluding Crossing Orders and Responses to Crossing Orders]
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                                                Calculated as a percentage of       Rebate for    Rebate for non-
       Priority customer complex tier         customer total consolidated volume  select symbols  select symbols
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Tier 1.....................................  0.000%-0.200%......................         ($0.25)         ($0.40)
Tier 2.....................................  Above 0.200%-0.400%................          (0.30)          (0.55)
Tier 3.....................................  Above 0.400%-0.450%................          (0.35)          (0.70)
Tier 4.....................................  Above 0.450%-0.750%................          (0.40)          (0.75)
Tier 5.....................................  Above 0.750%-1.000%................          (0.45)          (0.80)
Tier 6.....................................  Above 1.000%-1.350%................          (0.48)          (0.85)
Tier 7.....................................  Above 1.350%-1.750%................          (0.51)          (0.92)
Tier 8.....................................  Above 1.750%-2.750%................          (0.55)          (1.03)
Tier 9.....................................  Above 2.750%-4.500%................          (0.56)          (1.04)
Tier 10....................................  Above 4.500%.......................          (0.57)          (1.05)
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    The above rebates are provided per contract per leg if the order
trades with Non-Priority Customer orders in the Complex Order Book.
Today, this rebate is reduced by $0.15 per contract in Select Symbols
where the largest leg of the Complex Order is under fifty (50)
contracts and trades with quotes and orders on the regular order book
(the ``Note 1 Rebate Discount''). No Priority Customer Complex Order
rebates are provided in Select Symbols if any leg of the order that
trades with interest on the regular order book is fifty (50) contracts
or more. Lastly, no Priority Customer Complex Order rebates are
provided in Non-Select Symbols if any leg of the order trades with
interest on the regular order book, irrespective of order size.\12\
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    \12\ See Options 7, Section 4, note 1.
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    Separately, the Exchange currently assesses Complex Order maker and
taker fees for Select and Non-Select Symbols based on the pricing
schedule below:

                                                                  Maker and Taker Fees
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                                                                                Maker fee for
                                                                                Maker fee for    non-select
                                                                           Maker fee for  select symbols   symbols when                    Taker fee for
                   Market participant                      Maker fee for    non-select     when trading       trading      Taker fee for    non- select
                                                          select symbols      symbols         against         against     select symbols      symbols
                                                                                priority        priority
                                                                                customer        customer
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Market Maker............................................            0.10            0.20            0.50            0.86            0.50            0.98
Non-Nasdaq ISE Market Maker (FarMM).....................            0.20            0.20            0.50            0.88            0.50            0.98
Firm Proprietary/Broker-Dealer..........................            0.10            0.20            0.50            0.88            0.50            0.98
Professional Customer...................................            0.10            0.20            0.50            0.88            0.50            0.98
Priority Customer.......................................            0.00            0.00            0.00            0.00            0.00            0.00
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Proposal 1--Regular Priority Customer Maker Rebates in Non-Select
Symbols
    The Exchange proposes to increase the Regular Order Non-Select
Symbol Priority Customer maker rebate in Options 7, Section 3 from
$0.86 to $1.00 per contract.
Proposal 2--Note 15 Incentive
    The Exchange also proposes to amend the qualifications for the Note
15 Incentive by increasing the volume

threshold from 0.06% to 0.10% of Regular Order Non-Select Symbol
Priority Customer volume on ISE (excluding Crossing Orders and
Responses to Crossing Orders) calculated as a percentage of Customer
Total Consolidated Volume per day in a given month. While the Exchange
is increasing the volume threshold in the Note 15 Incentive, the
Exchange is not amending the $0.14 per contract additional rebate under
this proposal. As such, Members that meet the proposed volume threshold
may be eligible for rebates up to $1.14 per contract (i.e., the
proposed $1.00 base maker rebate plus the additional $0.14 Note 15
Incentive) on their Priority Customer Regular Orders in Non-Select
Symbols that add liquidity on ISE.
    Further, the Exchange proposes to link the amended Note 15
Incentive to the Priority Customer Complex Order rebates in Options 7,
Section 4, as further described above. Specifically, Members that meet
the amended Note 15 Incentive volume requirement (i.e., execute more
than 0.10% of regular order Non-Select Symbol Priority Customer volume
on ISE (excluding Crossing Orders and Responses to Crossing Orders)
calculated as a percentage of Customer Total Consolidated Volume per
day in a given month) will also be eligible to receive the Section 4
Priority Customer Complex Order rebates in Select Symbols and Non-
Select Symbols that apply to one tier higher than the tier for which
they currently qualify. For example, if a Member currently qualifies
for Priority Customer Complex Tier 1 AND meets the proposed 0.10%
volume requirement in the Note 15 Incentive, that Member will be
eligible to receive the Priority Customer Complex Tier 2 rebate for
Select Symbols and Non-Select Symbols instead of the Priority Customer
Complex Tier 1 rebate for Select Symbols and Non-Select Symbols. The
Exchange also proposes that Members that already qualify for the
highest Priority Customer Complex Tier (i.e., Tier 10) will instead
receive an additional rebate of $0.01 per contract in Select Symbols
and Non-Select Symbols because they are already in the highest tier
(and therefore unable to receive the benefit of a higher tier).\13\
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    \13\ As discussed later in this filing, the Exchange is also
proposing a number of changes to the Priority Customer Complex Order
rebates for both Select and Non-Select Symbols in Options 7, Section
4.
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    In connection with linking the Note 15 Incentive with the Priority
Customer Complex Order rebates in Options 7, Section 4, the Exchange
also proposes to add new note 17 in Options 7, Section 4 that would
provide: ``Members that execute more than 0.10% of Regular Order Non-
Select Symbol Priority Customer Volume (excluding Crossing Orders and
Responses to Crossing Orders) calculated as a percentage of Customer
Total Consolidated Volume per day in a given month will be eligible to
receive the Priority Customer Complex Order rebates in Select Symbols
and Non-Select Symbols that apply to one tier higher than the tier for
which they currently qualify, except Members that already qualify for
the highest Priority Customer Complex Tier will instead receive an
additional rebate of $0.01 per contract in Select Symbols and Non-
Select Symbols.'' New note 17 would make clear that the Priority
Customer Complex Order rebates in Section 4 are linked to the proposed
volume threshold in the note 15 incentive, as further described above.
Proposal 3--Regular Taker Fees in Non-Select Symbols
    The Exchange proposes to increase the Regular Order taker fees in
note 3 of Options 7, Section 3 for trades in Non-Select Symbols that
are executed against Priority Customers. As proposed, Non-Priority
Customer orders will be charged a taker fee of $1.25 (increased from
$1.10) per contract for trades executed against a Priority Customer.
Priority Customer orders will be charged a taker fee of $1.00
(increased from $0.86) per contract for trades executed against a
Priority Customer.
Proposal 4--Complex Priority Customer Rebates
    The Exchange proposes a number of adjustments to the tiered
Priority Customer Complex Order rebates described above. Specifically,
the Exchange proposes to increase the Priority Customer Complex Tier 7
rebate in Select Symbols from $0.51 to $0.54 per contract. The Exchange
also proposes to increase the Priority Customer Complex Order rebates
in Non-Select Symbols as follows: Tier 1 would increase from $0.40 to
$0.50 per contract, Tier 2 would increase from $0.55 to $0.60 per
contract, Tier 3 would increase from $0.70 to $0.75 per contract, Tier
4 would increase from $0.75 to $0.80 per contract, Tier 5 would
increase from $0.80 to $0.85 per contract, Tier 6 would increase from
$0.85 to $0.95 per contract, Tier 7 would increase from $0.92 to $1.00
per contract, Tier 8 would increase from $1.03 to $1.10 per contract,
Tier 9 would increase from $1.04 to $1.12 per contract, and Tier 10
would increase from $1.05 to $1.15 per contract. The Exchange is
amending the rebate amounts without changing the tier qualifications so
that Members can send the same amount of order flow as they do today to
receive larger rebates described above. Overall, the Exchange believes
that these increased Complex Order Priority Customer rebates will
attract more Complex Order flow to ISE.
    The Exchange also proposes to increase the Note 1 Rebate Discount
for smaller-sized Complex Orders in Select Symbols that leg into the
regular order book and trade with regular interest. Today, the Note 1
Rebate Discount reduces the Priority Customer Complex Tiers 1-10
rebates for Select Symbols by $0.15 per contract when the largest leg
of the Complex Order is under fifty (50) contracts and trades with
quotes and orders on the regular order book. The Exchange now proposes
to increase this reduction to $0.20 per contract.
Proposal 5--Complex Maker and Taker Fees in Non-Select Symbols
    The Exchange proposes to increase the Complex Order maker and taker
fees in Non-Select Symbols described above. Specifically, the Exchange
proposes to increase the maker fees in Non-Select Symbols when trading
against Priority Customers as follows: $0.86 to $1.03 per contract for
Market Makers \14\ and $0.88 to $1.05 per contract for all other Non-
Priority Customers. Further, the Exchange proposes to increase the
taker fees in Non-Select Symbols from $0.98 to $1.15 per contract for
all Non-Priority Customers. Priority Customers will continue to receive
free executions for their Complex Orders.
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    \14\ The term ``Market Makers'' refers to ``Competitive Market
Makers'' and ``Primary Market Makers'' collectively. See Options 1,
Section 1(a)(21).
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Proposal 6--Routing Fees
    The Exchange proposes to amend the Exchange's Pricing Schedule at
Options 7, Section 6.F (Route-Out Fees). The routing fees in this
section apply to executions of orders in all symbols that are routed to
one or more exchanges in connection with the Options Order Protection
and Locked/Crossed Market Plan.
    Today, the Exchange assesses Market Makers, Non-Nasdaq ISE Market
Makers (FarMM),\15\ Firm Proprietary \16\/Broker-

Dealers \17\ and Professional Customers \18\ a $0.55 per contract
Select Symbol routing fee and a $1.09 Non-Select Symbol routing fee to
route to another options exchange. Additionally, today, the Exchange
assess Priority Customers a $0.48 per contract Select Symbol routing
fee and a $0.70 Non-Select Symbol routing fee to route to another
options exchange.
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    \15\ A ``Non-Nasdaq ISE Market Maker'' is a market maker as
defined in section 3(a)(38) of the Securities Exchange Act of 1934,
as amended, registered in the same options class on another options
exchange.
    \16\ A ``Firm Proprietary'' order is an order submitted by a
member for its own proprietary account.
    \17\ A ``Broker-Dealer'' order is an order submitted by a member
for a broker-dealer account that is not its own proprietary account.
    \18\ A ``Professional Customer'' is a person or entity that is
not a broker/dealer and is not a Priority Customer. See Options 7,
Section 1(c).
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    The Exchange now proposes to assess a $0.60 per contract Select
Symbol routing fee and a $1.20 Non-Select Symbol routing fee to route
to another options exchange, regardless of the capacity of the order.
The purpose of the proposed routing fees is to recoup costs incurred by
the Exchange when routing orders to other options exchanges on behalf
of options Members. In determining its proposed routing fees, the
Exchange took into account transaction fees assessed by other options
exchanges, the Exchange's projected clearing costs, and the projected
administrative, regulatory, and technical costs associated with routing
orders to other options exchanges. The Exchange will continue to use
its affiliated broker-dealer, Nasdaq Execution Services, to route
orders to other options exchanges. Routing services offered by the
Exchange are completely optional and market participants can readily
select between various providers of routing services, including other
exchanges and broker-dealers. Also, the Exchange notes that market
participants may elect to mark their orders as ``Do-Not-Route'' to
avoid any routing fees.\19\ The proposed structure for routing fees is
similar to another options market.\20\ The Exchange believes that the
proposed routing fees would enable the Exchange to recover the costs it
incurs to route orders to away markets after taking into account the
other costs associated with routing orders to other options exchanges.
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    \19\ See Supplementary Material .04 to Options 3, Section 7.
    \20\ See MEMX's Options Fee Schedule at https://info.memxtrading.com/us-options-trading-resources/us-options-fee-schedule/. MEMX assesses a $0.60 per contract Penny Symbol routing
fee and a $1.20 Non-Penny Symbol routing fee.
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2. Statutory Basis
    The Exchange believes that its proposal is consistent with section
6(b) of the Act,\21\ in general, and furthers the objectives of
sections 6(b)(4) and 6(b)(5) of the Act,\22\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees, and
other charges among members and issuers and other persons using any
facility, and is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
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    \21\ 15 U.S.C. 78f(b).
    \22\ 15 U.S.C. 78f(b)(4) and (5).
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    The Exchange's proposed changes to its Pricing Schedule are
reasonable in several respects. As a threshold matter, the Exchange is
subject to significant competitive forces in the market for options
securities transaction services that constrain its pricing
determinations in that market. The fact that this market is competitive
has long been recognized by the courts. In NetCoalition v. Securities
and Exchange Commission, the D.C. Circuit stated as follows: ``[n]o one
disputes that competition for order flow is `fierce.' . . . As the SEC
explained, `[i]n the U.S. national market system, buyers and sellers of
securities, and the broker-dealers that act as their order-routing
agents, have a wide range of choices of where to route orders for
execution'; [and] `no exchange can afford to take its market share
percentages for granted' because `no exchange possesses a monopoly,
regulatory or otherwise, in the execution of order flow from broker
dealers' . . . .'' \23\
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    \23\ NetCoalition v. SEC, 615 F.3d 525, 539 (D.C. Cir. 2010)
(quoting Securities Exchange Act Release No. 59039 (December 2,
2008), 73 FR 74770, 74782-83 (December 9, 2008) (SR-NYSEArca-2006-
21)).
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    The Commission and the courts have repeatedly expressed their
preference for competition over regulatory intervention in determining
prices, products, and services in the securities markets. In Regulation
NMS, while adopting a series of steps to improve the current market
model, the Commission highlighted the importance of market forces in
determining prices and SRO revenues and, also, recognized that current
regulation of the market system ``has been remarkably successful in
promoting market competition in its broader forms that are most
important to investors and listed companies.'' \24\
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    \24\ Securities Exchange Act Release No. 51808 (June 9, 2005),
70 FR 37496, 37499 (June 29, 2005) (``Regulation NMS Adopting
Release'').
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    Numerous indicia demonstrate the competitive nature of this market.
For example, clear substitutes to the Exchange exist in the market for
options security transaction services. The Exchange is only one of
seventeen options exchanges to which market participants may direct
their order flow. Within this environment, market participants can
freely and often do shift their order flow among the Exchange and
competing venues in response to changes in their respective pricing
schedules. As such, the proposal represents a reasonable attempt by the
Exchange to increase its liquidity and market share relative to its
competitors.
Proposal 1--Regular Priority Customer Maker Rebates in Non-Select
Symbols
    The Exchange believes that its proposal to increase the Regular
Order Priority Customer maker rebate in Non-Select Symbols from $0.86
to $1.00 per contract is reasonable because Members will be further
incentivized to add liquidity in Priority Customer Regular Orders in
Non-Select Symbols in order to receive the increased rebate. The
Exchange believes that this proposal is equitable and not unfairly
discriminatory as all Priority Customers will be uniformly assessed the
$1.00 maker rebate. The Exchange further believes that it is equitable
and not unfairly discriminatory to provide only Priority Customers with
this maker rebate because the Exchange has historically offered more
favorable pricing for those market participants. In addition, increased
Priority Customer order flow enhances liquidity on the Exchange for the
benefit of all market participants by providing more trading
opportunities, which in turn attracts Market Makers and other market
participants that may trade with this order flow.
Proposal 2--Note 15 Incentive
    The Exchange believes that the proposed changes to the Note 15
Incentive are reasonable for the reasons that follow. As discussed
above, the Exchange is increasing the volume threshold from 0.06% to
0.10% such that Members would now need to execute more than 0.10% of
Regular Order Non-Select Symbol Priority Customer volume (excluding
Crossing Orders and Responses to Crossing Orders) calculated as a
percentage of Customer Total Consolidated Volume per day in a given
month in order to receive an additional rebate of $0.14 per contract.
While the volume threshold is increasing under this proposal, the
Exchange believes that Members will continue to be incentivized to
increase market participation in Non-Select Symbol Priority Customer
orders to qualify for the $0.14 additional Note 15 Incentive,
especially in light of the significant increase in the base Non-Select
Symbol Priority Customer maker rebate to $1.00 per contract as
discussed above. Taken together, Members would be able to receive up to
$1.14 per contract on their Priority Customer Regular Orders in Non-
Select Symbols

that add liquidity on ISE. The Exchange believes that increased
Priority Customer order flow in Non-Select Symbols would create
additional liquidity to the benefit of all market participants and
investors that trade on the Exchange.
    The Exchange also believes that linking the proposed volume
threshold in the Note 15 Incentive to the Options 7, Section 4 Priority
Customer Complex Order rebates in the manner described above is
reasonable because the proposal may further incentivize Members to
increase market participation in Priority Customer Regular Orders in
Non-Select Symbols to receive the next higher Priority Customer Complex
Tier rebate than the tier for which they currently qualify (or $0.01
additional rebate if they are already in the highest Priority Customer
Complex Tier 10). The Exchange also believes that the proposal would
incentivize Members to increase their Priority Customer Complex Order
flow in both Select and Non-Select Symbols to the Exchange in order to
qualify for a higher Priority Customer Complex Tier (which in turn
could set the Member up to receive the next higher Priority Customer
Complex Tier rebate--or an additional $0.01 rebate if they are already
in Priority Customer Complex Tier 10--if they meet the proposed volume
threshold in the amended Note 15 Incentive).
    The Exchange believes that the proposed changes to the Note 15
Incentive as discussed above are equitable and not unfairly
discriminatory because they will apply uniformly to all similarly
situated market participants. The Exchange believes that it is
equitable and not unfairly discriminatory to offer the Note 15
Incentive to only Priority Customers because Priority Customer
liquidity benefits all market participants by providing more trading
opportunities, which attracts Market Makers. An increase in the
activity of these market participants in turn facilitates tighter
spreads, which may cause an additional corresponding increase in order
flow from other market participants.
Proposal 3--Regular Taker Fees in Non-Select Symbols
    The Exchange believes that its proposal to increase the Regular
Order taker fees in note 3 of Options 7, Section 3 for trades in Non-
Select Symbols that are executed against Priority Customers is
reasonable because they are designed to offset the significant
incentives that the Exchange is proposing for Priority Customer
orders.\25\ As discussed above, Non-Priority Customer orders will be
charged a taker fee of $1.25 (increased from $1.10) per contract for
trades executed against a Priority Customer. Priority Customer orders
will be charged a taker fee of $1.00 (increased from $0.86) per
contract for trades executed against a Priority Customer. The Exchange
believes that Members will benefit from the additional liquidity
created by the Priority Customer incentives proposed in this filing,
and it is therefore appropriate to charge increased taker fees for
trades executed against a Priority Customer.
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    \25\ As previously discussed, the Exchange is proposing a
significant increase in the base maker rebate provided to Priority
Customer Regular Orders in Non-Select Symbols from $0.86 to $1.00
per contract. In addition, the Exchange is linking the Note 15
Incentive to the Section 4 Priority Customer Complex Tier rebates to
further incentivize Priority Customer order flow to the Exchange.
Finally, the Exchange is increasing the Section 4 Priority Customer
Complex Tier rebates without changing the tier qualifications so
that Members can send the same amount of order flow as they do today
to receive larger rebates.
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    The Exchange believes that its proposal to increase the taker fees
in note 3 of Options 7, Section 3 for trades that are executed against
Priority Customers is equitable and not unfairly discriminatory because
the changes will apply uniformly to all similarly situated market
participants. Priority Customers will continue to be charged a lower
taker fee pursuant to note 3 compared to other market participants,
which the Exchange believes is equitable and not unfairly
discriminatory because the Exchange has historically provided Priority
Customers with more favorable pricing. Furthermore, Priority Customer
liquidity benefits all market participants by providing more trading
opportunities, which attracts Market Makers. An increase in the
activity of these market participants in turn facilitates tighter
spreads, which may cause an additional corresponding increase in order
flow from other market participants.
Proposal 4--Complex Priority Customer Rebates
    The Exchange believes that its proposal to increase the tiered
Priority Customer Complex Order rebates in the manner discussed above
is reasonable because these increased Complex Order Priority Customer
rebates will attract more Complex Order flow to ISE to the benefit of
all market participants. The Exchange believes that each rebate is set
at appropriate levels that will encourage market participants to
increase their Priority Customer Complex Order activity on the
Exchange. As noted above, the Exchange is amending the rebate amounts
without changing the tier qualifications so that Members can send the
same amount of order flow as they do today to receive larger rebates
described above.
    The Exchange also believes that its proposal to increase the Note 1
Rebate Discount for smaller-sized Complex Orders (i.e., largest leg of
the order is under fifty contracts) in Select Symbols that leg into the
regular order book and trade with regular interest from $0.15 to $0.20
per contract is reasonable because Members will continue to be
incentivized to send Priority Customer Complex Order flow to the
Exchange despite the increased reduction in order to receive the tiered
rebates. Also, the Exchange will continue to pay rebates for Priority
Customer Complex Orders of any size that trade with Non-Priority
Customer orders in the Complex Order Book, based on the Priority
Customer Complex Tier achieved, thereby continuing to incentivize
Members to bring Complex Order flow to the Exchange to earn the rebate
on their Priority Customer Complex Order volume. Overall, the Exchange
believes that the Priority Customer Complex Order rebate program, as
modified under this proposal, is reasonable because the program is
optional and all Members can choose to participate or not.
    The Exchange believes that offering the Priority Customer Complex
Order rebate program, as modified, to only Priority Customers is
equitable and not unfairly discriminatory as the proposed changes are
intended to increase Priority Customer Complex Order flow to ISE. An
increase in Priority Customer order flow enhances liquidity on the
Exchange to the benefit of all market participants by providing more
trading opportunities, which in turn attracts Market Makers and other
market participants that may interact with this order flow.
Proposal 5--Complex Maker and Taker Fees in Non-Select Symbols
    The Exchange believes that its proposal to increase the Complex
Order maker and taker fees in Non-Select Symbols in the manner
described above is reasonable because it is designed to offset the
significant incentives that the Exchange is proposing for Priority
Customer orders.\26\ The Exchange believes that Members will benefit
from the additional liquidity created by the Priority Customer
incentives proposed in this filing, and it is therefore appropriate to
charge all Non-Priority

Customers increased maker fees for trades executed against a Priority
Customer and increased taker fees.
---------------------------------------------------------------------------

    \26\ See supra note 25.
---------------------------------------------------------------------------

    The Exchange also believes that its proposal is equitable and not
unfairly discriminatory. As discussed above, the Exchange proposes to
increase the maker fees in Non-Select Symbols when trading against
Priority Customers as follows: $0.86 to $1.03 per contract for Market
Makers and $0.88 to $1.05 per contract for all other Non-Priority
Customers. Further, the Exchange proposes to increase the taker fees in
Non-Select Symbols from $0.98 to $1.15 per contract for all Non-
Priority Customers. Priority Customers will continue to receive free
executions for their Complex Orders. Market Makers will continue to be
assessed lower maker fees in Non-Select Symbols than other Non-Priority
Customers when trading against Priority Customers. The Exchange
believes this is equitable and not unfairly discriminatory because
Market Makers are subject to additional requirements and obligations
(such as quoting obligations) that other market participants are not.
In addition, the Exchange believes that it is equitable and not
unfairly discriminatory to continue to offer Priority Customers Complex
Orders free executions in order to incentivize Priority Customer order
flow to ISE. Priority Customer order flow enhances liquidity on the
Exchange for the benefit of all market participants by providing more
trading opportunities, which in turn attracts Market Makers and other
market participants that may interact with this order flow.
Proposal 6--Routing Fees
    The Exchange's proposal to amend its routing fees such that all
Members would pay a $0.60 per contract Select Symbol routing fee and a
$1.20 Non-Select Symbol routing fee to route to another options
exchange, regardless of capacity, is reasonable because the proposed
routing fees would enable the Exchange to recover the costs it incurs
to route orders to away markets after taking into account the other
costs associated with routing orders to other options exchanges.
Routing services offered by the Exchange are completely optional and
market participants can readily select between various providers of
routing services, including other exchanges and broker-dealers. Also,
the Exchange notes that market participants may elect to mark their
orders as ``Do-Not-Route'' to avoid any routing fees. As noted above,
the proposed structure for routing fee is similar to another options
market.\27\
---------------------------------------------------------------------------

    \27\ See supra note 20.
---------------------------------------------------------------------------

    The Exchange's proposal to amend its routing fees such that all
Members would pay a $0.60 per contract Select Symbol Routing Fee and a
$1.20 Non-Select Symbol Routing Fee, regardless of capacity, to route
to another options exchange is equitable and not unfairly
discriminatory because these uniform Routing Fees will apply equally to
all options Members.

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.
Intra-Market Competition
    In terms of intra-market competition, the Exchange does not believe
that its proposal will place any category of market participant at a
competitive disadvantage. While some aspects of the proposal apply
directly to Priority Customers (through rebates or more favorable
pricing) and Market Makers (through lower Complex Order maker fees when
trading against Priority Customers) as discussed above, the Exchange
believes that the changes, taken together, will ultimately fortify and
encourage activity on the Exchange. As discussed above, all market
participants will benefit from any increase in market activity that the
proposal effectuates.
Proposal 1--Regular Priority Customer Maker Rebates in Non-Select
Symbols
    The Exchange does not believe that its proposal to increase the
Regular Order Priority Customer maker rebate in Non-Select Symbols from
$0.86 to $1.00 per contract will impose an undue burden on intra-market
competition all Priority Customers will be uniformly assessed the $1.00
maker rebate. The Exchange does not believe that its proposal to
provide only Priority Customers with this maker rebate will impose an
undue burden on intra-market competition because the Exchange has
historically offered more favorable pricing for those market
participants. In addition, increased Priority Customer order flow
enhances liquidity on the Exchange for the benefit of all market
participants by providing more trading opportunities, which in turn
attracts Market Makers and other market participants that may trade
with this order flow.
Proposal 2--Note 15 Incentive
    The Exchange does not believe that the proposed changes to the Note
15 Incentive as discussed above will impose an undue burden on intra-
market competition as the proposal will apply uniformly to all Priority
Customers. While the proposed Note 15 incentive will only apply to
Priority Customers, Priority Customer liquidity benefits all market
participants by providing more trading opportunities, which attracts
Market Makers. An increase in the activity of these market participants
in turn facilitates tighter spreads, which may cause an additional
corresponding increase in order flow from other market participants.
Proposal 3--Regular Taker Fees in Non-Select Symbols
    The Exchange does not believe that its proposal to increase the
taker fees in note 3 of Options 7, Section 3 for trades that are
executed against Priority Customers will impose an undue burden on
intra-market competition because the changes will apply uniformly to
all similarly situated market participants. Priority Customers will
continue to be charged a lower taker fee pursuant to note 3 compared to
other market participants, which the Exchange believes is equitable and
not unfairly discriminatory because the Exchange has historically
provided Priority Customers with more favorable pricing. Furthermore,
Priority Customer liquidity benefits all market participants by
providing more trading opportunities, which attracts Market Makers. An
increase in the activity of these market participants in turn
facilitates tighter spreads, which may cause an additional
corresponding increase in order flow from other market participants.
Proposal 4--Complex Priority Customer Rebates
    The Exchange does not believe that offering the Priority Customer
Complex Order rebate program, as modified under this proposal, to only
Priority Customers will impose an undue burden on intra-market
competition because the proposed changes are intended to increase
Priority Customer Complex Order flow to ISE. An increase in Priority
Customer order flow enhances liquidity on the Exchange to the benefit
of all market participants by providing more trading opportunities,
which in turn attracts Market Makers and other market participants that
may interact with this order flow.

Proposal 5--Complex Maker and Taker Fees in Non-Select Symbols
    The Exchange does not believe that its proposal to increase the
Complex Order maker and taker fees in Non-Select Symbols in the manner
described above will impose an undue burden on intra-market
competition. As discussed above, the Exchange proposes to increase the
maker fees in Non-Select Symbols when trading against Priority
Customers as follows: $0.86 to $1.03 per contract for Market Makers and
$0.88 to $1.05 per contract for all other Non-Priority Customers.
Further, the Exchange proposes to increase the taker fees in Non-Select
Symbols from $0.98 to $1.15 per contract for all Non-Priority
Customers. Priority Customers will continue to receive free executions
for their Complex Orders. Market Makers will continue to be assessed
lower maker fees in Non-Select Symbols than other Non-Priority
Customers when trading against Priority Customers. The Exchange
believes this is equitable and not unfairly discriminatory because
Market Makers are subject to additional requirements and obligations
(such as quoting obligations) that other market participants are not.
In addition, the Exchange believes that it is equitable and not
unfairly discriminatory to continue to offer Priority Customers Complex
Orders free executions in order to incentivize Priority Customer order
flow to ISE. Priority Customer order flow enhances liquidity on the
Exchange for the benefit of all market participants by providing more
trading opportunities, which in turn attracts Market Makers and other
market participants that may interact with this order flow.
Proposal 6--Routing Fees
    The Exchange's proposal to amend its routing fees such that all
Members would pay a $0.60 per contract Select Symbol routing fee and a
$1.20 Non-Select Symbol routing fee to route to another options
exchange, regardless of capacity, will not impose an undue burden on
intra-market competition because these uniform routing fees will apply
equally to all options Members.
Inter-Market Competition
    In terms of inter-market competition, the Exchange notes that it
operates in a highly competitive market in which market participants
can readily favor competing venues if they deem fee levels at a
particular venue to be excessive, or rebate opportunities available at
other venues to be more favorable. In such an environment, the Exchange
must continually adjust its fees to remain competitive with other
exchanges. Because competitors are free to modify their own fees in
response, and because market participants may readily adjust their
order routing practices, the Exchange believes that the degree to which
fee changes in this market may impose any burden on competition is
extremely limited. In sum, if the changes proposed herein are
unattractive to market participants, it is likely that the Exchange
will lose market share as a result. Accordingly, the Exchange does not
believe that the proposed changes will impair the ability of members or
competing order execution venues to maintain their competitive standing
in the financial markets.

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

    No written comments were either solicited or received.

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

    The foregoing rule change has become effective pursuant to section
19(b)(3)(A)(ii) of the Act \28\ and Rule 19b-4(f)(2) \29\ 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: (i) necessary or
appropriate in the public interest; (ii) for the protection of
investors; or (iii) 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.
---------------------------------------------------------------------------

    \28\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \29\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

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-ISE-2023-28 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-ISE-2023-28. 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-ISE-2023-28 and should be
submitted on or before December 22, 2023.
    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\30\
---------------------------------------------------------------------------

    \30\ 17 CFR 200.30-3(a)(12).

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-26499 Filed 11-30-23; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 76, Number 112 (Friday, June 10, 2011)]
[Notices]
[Pages 34138-34139]
[FR Doc No: 2011-14467]

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

DEPARTMENT OF TRANSPORTATION

Federal Railroad Administration

[Docket No. FRA-2011-0001-N-6]

Proposed Agency Information Collection Activities; Comment
Request

AGENCY: Federal Railroad Administration, (FRA), Department of
Transportation (DOT).

ACTION: Notice and request for comments.

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

SUMMARY: In compliance with the Paperwork Reduction Act of 1995 (44
U.S.C. 3501 et seq.), this notice announces that the Information
Collection Requirements (ICRs) abstracted below are being forwarded to
the Office of Management and Budget (OMB) for review and comment. The
ICRs describe the nature of the information collections and their
expected burden. The Federal Register notice with a 60-day comment
period soliciting comments on the following collections of information
was published on April 1, 2011 (76 FR 18294).

DATES: Comments must be submitted on or before July 11, 2011.

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. Kimberly
Toone, 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
April 1, 2011, FRA published a 60-day notice in the Federal Register
soliciting comment on these ICRs for which the agency is seeking OMB
approval. 76 FR 18294. 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
of this Notice to best ensure having their full effect. 5 CFR
1320.12(c); see also 60 FR 44983, Aug. 29, 1995.
    The summaries below describe the nature of the information
collection requirements (ICRs) and the expected burden for each ICR
being submitted for clearance by OMB as required by the PRA.
    Title: Railroad Operating Rules.
    OMB Control Number: 2130-0035.
    Type of Request: Extension of a currently approved collection.
    Affected Public: Businesses.
    Abstract: The collection of information is due to the railroad
operating rules set forth in 49 CFR part 217 which require Class I and
Class II railroads to file with FRA copies of their operating rules,
timetables, and timetable special instructions, and subsequent
amendments thereto. Class III railroads are required to retain copies
of these documents at their systems headquarters. Also, 49 CFR
220.21(b) prescribes the collection of information which requires
railroads to retain one copy of their current operating rules with
respect to radio communications

and one copy of each subsequent amendment thereto. These documents must
be made available to FRA upon request. Through these rules, FRA learns
the condition of operating rules and practices with respect to trains
and instructions provided by the railroad to their employees in
operating practices.
    Form Number(s): N/A.
    Total Annual Estimated Burden Hours: 4,839,581 hours.
    Title: Roadway Worker Protection.
    OMB Control Number: 2130-0539.
    Type of Request: Extension of a currently approved collection.
    Abstract: This rule establishes regulations governing the
protection of railroad employees working on or near railroad tracks.
The regulation requires that each railroad devise and adopt a program
of on-track safety to provide employees working along the railroad with
protection from the hazards of being struck by a train or other on-
track equipment. Elements of this on-track safety program include an
on-track safety manual; a clear delineation of employers'
responsibilities, as well as employees' rights and responsibilities
thereto; well-defined procedures for communication and protection; and
annual on-track safety training. The program adopted by each railroad
is subject to review and approval by FRA.
    Form Number(s): FRA 6180.119.
    Affected Public: Businesses.
    Total Annual Estimated Burden Hours: 817,358 hours.
    Title: Locomotive Cab Sanitation Standards.
    OMB Control Number: 2130-0552.
    Type of Request: Extension of a currently approved collection.
    Affected Public: Businesses.
    Form Number(s): N/A
    Abstract: The collection of information is used by FRA to promote
rail safety and the health of railroad workers by ensuring that all
locomotive crew members have access to toilet/sanitary facilities--on
as needed basis--which are functioning and hygienic. Also, the
collection of information is used by FRA to ensure that railroads
repair defective locomotive toilet/sanitary facilities within 10
calendar days of the date on which these units becomes defective.
    Total Annual Estimated Burden Hours: 1,272 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 June 6, 2011.
Kimberly Coronel,
Director, Office of Financial Management, Federal Railroad
Administration.
[FR Doc. 2011-14467 Filed 6-9-11; 8:45 am]
BILLING CODE 4910-06-P


[Federal Register Volume 84, Number 180 (Tuesday, September 17, 2019)]
[Notices]
[Pages 48992-48994]
[FR Doc No: 2019-20044]

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DEPARTMENT OF TRANSPORTATION

Pipeline and Hazardous Materials Safety Administration

Hazardous Materials: Notice of Actions on Special Permits

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

ACTION: Notice of actions on special permit applications.

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

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.

DATES: Comments must be received on or before October 17, 2019.

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 or at http://regulations.gov.
    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 September 9, 2019.
Donald P. Burger,
Chief, General Approvals and Permits Branch.

------------------------------------------------------------------------
 Application                       Regulation(s)   Nature of the special
     No.           Applicant         affected         permits thereof
------------------------------------------------------------------------
                      SPECIAL PERMITS DATA--Granted
------------------------------------------------------------------------
10501-M......  SEMI-BULK         180.352(d)......  To modify the special
                SYSTEMS, INC.                       permit to authorize
                                                    the repair of UN13L2
                                                    flexible IBCs with a
                                                    larger capacity and
                                                    different cross-
                                                    sectional shape.

11054-M......  WELKER, INC.....  173.301(f)(2),    To modify the special
                                  173.302a(a)(1),   permit to authorize
                                  173.304a(a)(1),   additional Class 3
                                  173.304a(d)(3)(   and Division 2.2
                                  i), 173.201(c),   gases.
                                  173.202(c),
                                  173.203(c),
                                  177.840(a)(1).
12516-M......  POLY-COAT         107.503(b),       To modify the special
                SYSTEMS, INC.     107.503(c),       permit to remove the
                                  173.241,          request to get
                                  173.242.          authorization from
                                                    the Approvals and
                                                    Permits Division
                                                    before modifying,
                                                    stretching or re-
                                                    barreling.
14641-M......  CONOCOPHILLIPS    172.101(j)......  To modify the special
                ALASKA, INC.                        permit to authorize
                                                    an additional hazmat
                                                    of a type already
                                                    approved in the
                                                    permit.
15130-M......  SUNDANCE          172.101(j)(1),    To modify the special
                HELICOPTERS,      175.30(a).        permit to authorize
                INC.                                additional Class 2
                                                    hazardous materials.
15552-M......  POLY-COAT         107.503(b),       To modify the special
                SYSTEMS, INC.     107.503(c),       permit to remove the
                                  173.241,          request to get
                                  173.242,          authorization from
                                  173.243.          the Approvals and
                                                    Permits Division
                                                    before modifying,
                                                    stretching or re-
                                                    barreling.
16172-M......  ENTEGRIS, INC...  173.301(f)......  To modify the special
                                                    permit to authorize
                                                    an additional
                                                    hazmat.
16624-M......  FRAMATOME INC...  173.301(a)(1),    To modify the special
                                  173.302(a).       permit to authorize
                                                    non-DOT
                                                    specification
                                                    packaging for the
                                                    safe containment of
                                                    the compressed
                                                    helium in certain of
                                                    its non[hyphen]Class
                                                    7 nuclear fuel
                                                    component products.
20571-M......  CATALINA          173.302a,         To modify the special
                CYLINDERS, INC.   178.71(l)(1)(i)   permit to authorize
                                  ,                 a 15 year service
                                  178.71(l)(1)(ii   life from the
                                  ).                cylinder's date of
                                                    manufacture.
20798-N......  AMERICASE, LLC..  173.185(a)......  To authorize the
                                                    manufacture, mark,
                                                    sale, and use of
                                                    certain 4G and 4B
                                                    boxes for the
                                                    transportation in
                                                    commerce of
                                                    prototype and low
                                                    production lithium
                                                    ion cells and
                                                    batteries.
20835-N......  AKZO NOBEL        178.337-8(a)(3),  To authorize the
                FUNCTIONAL        178.337-8(a)(4).  shipment of UN3394
                CHEMICALS LLC.                      and UN3399 metal
                                                    alkyls in MC331
                                                    cargo tanks that
                                                    house product inlet
                                                    and discharge
                                                    opening valves in a
                                                    protective recessed
                                                    well of the cargo
                                                    tank.
20851-N......  CALL2RECYCLE,     172.200,          To authorize the
                INC.              172.600,          manufacture, mark,
                                  172.700(a).       sale, and use of
                                                    certain UN Standard
                                                    packagings for
                                                    transporting end-of-
                                                    life and/or used
                                                    lithium ion cells
                                                    and batteries and
                                                    lithium ion
                                                    batteries contained
                                                    in equipment
                                                    recycling.
20876-N......  SODASTREAM USA    178.71..........  To authorize the
                INC.                                transportation in
                                                    commerce of UN
                                                    pressure vessels
                                                    that use alternative
                                                    valve standards than
                                                    are required by the
                                                    HMR.
20883-M......  DEPARTMENT OF     173.302(a),       To modify the permit
                DEFENSE US ARMY   175.3.            to authorize party
                MILITARY                            status.
                SURFACE
                DEPLOYMENT &
                DISTRIBUTION
                COMMAND.
20898-N......  Rivian            172.101(j),       To authorize the
                Automotive, LLC.  173.185(a),       transportation in
                                  173.185(b)(3)(i   commerce of
                                  ),                prototype and low
                                  173.185(b)(3)(i   production lithium
                                  i).               ion batteries and
                                                    batteries contained
                                                    in vehicles aboard
                                                    cargo-only aircraft.
20899-N......  CAIRE INC.......  171.2(g),         To authorize the
                                  172.203(a),       repair of certain
                                  172.301(c),       DOT 4L cylinders
                                  173.22(a),        without requiring
                                  180.211(c)(2).    pressure testing.
20909-N......  SMBC RAIL         172.203(a),       To authorize the use
                SERVICES LLC.     172.302(c),       of certain DOT 117
                                  173.247.          tank car tanks for
                                                    the transportation
                                                    in commerce of
                                                    certain elevated
                                                    temperature
                                                    materials.
20915-N......  ATLAS AIR, INC..  172.101(j),       To authorize the
                                  172.204(c)(3),    transportation of
                                  173.27(b)(2),     explosives forbidden
                                  173.27(b)(3).     for transport by air
                                                    via cargo-only
                                                    aircraft.
20922-N......  Burgwedel         173.199(b)(5)...  To authorize the
                Biotech GmbH.                       transportation in
                                                    commerce of certain
                                                    biohazard materials
                                                    in amounts exceeding
                                                    the amount
                                                    authorized by the
                                                    regulations.
------------------------------------------------------------------------
                      SPECIAL PERMITS DATA--Denied
------------------------------------------------------------------------
20857-N......  SARTEN..........  178.33a-7(a)....  To authorize the
                                                    manufacture, mark,
                                                    sale, and use of non-
                                                    DOT specification
                                                    receptacles meeting
                                                    the requirements of
                                                    a DOT 2Q except that
                                                    the minimum wall
                                                    thickness is
                                                    reduced.
20869-N......  BALL METALPACK,   173.304a(d)(3)(i  To authorize the
                LLC.              i).               manufacture, mark,
                                                    sale, and use of non-
                                                    DOT specification
                                                    inside containers
                                                    for the
                                                    transportation of
                                                    certain Division 2.1
                                                    gases.
20882-N......  STANLEY BLACK &   173.6(a)(1)(ii),  To authorize the
                DECKER, INC.      173.6(d).         transportation in
                                                    commerce of lithium
                                                    ion batteries as
                                                    materials of trade
                                                    when each package
                                                    has a gross mass
                                                    exceeding 30 kg and
                                                    the aggregate weight
                                                    exceeds 200 kg.
------------------------------------------------------------------------
                     SPECIAL PERMITS DATA--Withdrawn
------------------------------------------------------------------------

[FR Doc. 2019-20044 Filed 9-16-19; 8:45 am]
 BILLING CODE 4909-60-P


[Federal Register: May 7, 2008 (Volume 73, Number 89)]
[Rules and Regulations]
[Page 25506-25507]
[DOCID:fr07my08-4]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 121

Crewmember and Dispatcher Training Programs

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule; technical amendment.

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SUMMARY: The FAA is issuing this technical amendment to reserve
subparts BB and CC in 14 CFR part 121. The FAA is engaged in rulemaking
and anticipates codifying the new regulations in part 121 subparts BB
and CC.

DATES: This rule is effective on May 7, 2008.

FOR FURTHER INFORMATION CONTACT: Cindy Nordlie, Office of Rulemaking,
Federal Aviation Administration, 800 Independence Avenue, SW.,
Washington, DC 20591; telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Discussion

    The FAA is engaged in rulemaking to revise regulations for
crewmember and dispatcher training programs in domestic, flag, and
supplemental operations. The FAA anticipates codifying the revised
training regulations for crewmembers in subpart BB of part 121 and
regulations for dispatchers in subpart CC of part 121. The FAA is
issuing this technical amendment to reserve subparts BB and CC in 14
CFR part 121 to ensure that these subparts will be available for this
future rulemaking.

List of Subjects 14 CFR Part 121

    Air carriers, Aircraft, Aviation safety, Reporting and
recordkeeping requirements, Safety, Transportation.

The Amendment

0
In consideration of the foregoing, the Federal Aviation Administration
amends part 121 of Title 14, Code of Federal Regulations, as follows:

PART 121--OPERATING REQUIREMENTS: DOMESTIC, FLAG, AND SUPPLEMENTAL
OPERATIONS

0
1. The authority citation for part 121 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40113, 40119, 41706, 44101, 44701-
44702, 44705, 44709-44711, 44713, 44716-44717, 44722, 46105.

Subpart BB--[Reserved]

0
2. Add and reserve subpart BB, consisting of Sec. Sec.  121.1200
through 121.1399.

Subpart CC--[Reserved]

0
3. Add and reserve subpart CC, consisting of Sec. Sec.  121.1400
through 121.1499.

    Issued in Washington, DC on May 1, 2008.
 Pamela Hamilton-Powell,
Director, Office of Rulemaking.
 [FR Doc. E8-10205 Filed 5-6-08; 8:45 am]

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[Federal Register Volume 82, Number 237 (Tuesday, December 12, 2017)]
[Notices]
[Page 58421]
[FR Doc No: 2017-26693]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2017-P-2659]

Determination That NOROXIN (Norfloxacin) Tablets, 400 Milligrams,
Was Not Withdrawn From Sale for Reasons of Safety or Effectiveness

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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SUMMARY: The Food and Drug Administration (FDA or Agency) has
determined that NOROXIN (norfloxacin) tablets, 400 milligrams (mg), was
not withdrawn from sale for reasons of safety or effectiveness. This
determination will allow FDA to approve abbreviated new drug
applications (ANDAs) for norfloxacin tablets, 400 mg, if all other
legal and regulatory requirements are met.

FOR FURTHER INFORMATION CONTACT: Darren Eicken, Center for Drug
Evaluation and Research, Food and Drug Administration, 10903 New
Hampshire Ave., Bldg. 51, Rm. 6206, Silver Spring, MD 20993-0002, 240-
402-0978.

SUPPLEMENTARY INFORMATION: In 1984, Congress enacted the Drug Price
Competition and Patent Term Restoration Act of 1984 (Pub. L. 98-417)
(the 1984 amendments), which authorized the approval of duplicate
versions of drug products under an ANDA procedure. ANDA applicants
must, with certain exceptions, show that the drug for which they are
seeking approval contains the same active ingredient in the same
strength and dosage form as the ``listed drug,'' which is a version of
the drug that was previously approved. ANDA applicants do not have to
repeat the extensive clinical testing otherwise necessary to gain
approval of a new drug application (NDA).
    The 1984 amendments include what is now section 505(j)(7) of the
Federal Food, Drug, and Cosmetic Act (21 U.S.C. 355(j)(7)), which
requires FDA to publish a list of all approved drugs. FDA publishes
this list as part of the ``Approved Drug Products With Therapeutic
Equivalence Evaluations,'' which is known generally as the ``Orange
Book.'' Under FDA regulations, drugs are removed from the list if the
Agency withdraws or suspends approval of the drug's NDA or ANDA for
reasons of safety or effectiveness or if FDA determines that the listed
drug was withdrawn from sale for reasons of safety or effectiveness (21
CFR 314.162).
    A person may petition the Agency to determine, or the Agency may
determine on its own initiative, whether a listed drug was withdrawn
from sale for reasons of safety or effectiveness. This determination
may be made at any time after the drug has been withdrawn from sale,
but must be made prior to approving an ANDA that refers to the listed
drug (Sec.  314.161 (21 CFR 314.161)). FDA may not approve an ANDA that
does not refer to a listed drug.
    NOROXIN (norfloxacin) tablets, 400 mg, is the subject of NDA
019384, held by Merck & Company, Inc. (Merck), and initially approved
on October 31, 1986. NOROXIN is indicated for the treatment of adults
with the following infections caused by susceptible strains of certain
designated microorganisms: Uncomplicated urinary tract infections
(including cystitis), uncomplicated urethral and cervical gonorrhea,
and prostatitis.
    In a letter dated October 13, 2015, Merck notified FDA that NOROXIN
(norfloxacin) tablets, 400 mg, was being discontinued, and FDA moved
the drug product to the ``Discontinued Drug Product List'' section of
the Orange Book. In the Federal Register of October 4, 2016 (81 FR
68427), FDA announced that it was withdrawing approval of NDA 019384,
effective November 3, 2016.
    Jubilant Generics Ltd. submitted a citizen petition dated April 27,
2017 (Docket No. FDA-2017-P-2659), under 21 CFR 10.30, requesting that
the Agency determine whether NOROXIN (norfloxacin) tablets, 400 mg, was
withdrawn from sale for reasons of safety or effectiveness.
    After considering the citizen petition and reviewing Agency records
and based on the information we have at this time, FDA has determined
under Sec.  314.161 that NOROXIN (norfloxacin) tablets, 400 mg, was not
withdrawn for reasons of safety or effectiveness. The petitioner has
identified no data or other information suggesting that NOROXIN
(norfloxacin) tablets, 400 mg, was withdrawn for reasons of safety or
effectiveness. We have carefully reviewed our files for records
concerning the withdrawal of NOROXIN (norfloxacin) tablets, 400 mg,
from sale. We have also independently evaluated relevant literature and
data for possible postmarketing adverse events. We have reviewed the
available evidence and determined that this drug product was not
withdrawn from sale for reasons of safety or effectiveness.
    Accordingly, the Agency will continue to list NOROXIN (norfloxacin)
tablets, 400 mg, in the ``Discontinued Drug Product List'' section of
the Orange Book. The ``Discontinued Drug Product List'' delineates,
among other items, drug products that have been discontinued from
marketing for reasons other than safety or effectiveness. ANDAs that
refer to NOROXIN (norfloxacin) tablets, 400 mg, may be approved by the
Agency as long as they meet all other legal and regulatory requirements
for the approval of ANDAs. If FDA determines that labeling for this
drug product should be revised, the Agency will advise ANDA applicants
to submit such labeling.

    Dated: December 6, 2017.
Leslie Kux,
Associate Commissioner for Policy.
[FR Doc. 2017-26693 Filed 12-11-17; 8:45 am]
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