[Federal Register Volume 82, Number 55 (Thursday, March 23, 2017)]
[Notices]
[Pages 14936-14938]
[FR Doc No: 2017-05743]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80272; File No. SR-NYSEMKT-2017-13]

Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing of
Proposed Rule Change Amending Rule 968NY To Make Permanent a Program
That Allows Transactions To Take Place at a Price That Is Below $1 per
Option Contract

March 17, 2017.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on March 2, 2017, NYSE MKT LLC (the ``Exchange'' or ``NYSE
MKT'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and
II, 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\ 15 U.S.C. 78a.
    \3\ 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 Rule 968NY to make permanent a
program that allows transactions to take place at a price that is below
$1 per option contract. The proposed rule change is available on the
Exchange's Web site at www.nyse.com, at the principal office of the
Exchange, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to amend Rule 968NY to make permanent a
program that allows transactions to take place at a price that is below
$1 per option contract.\4\ The program is currently subject to a pilot
that is scheduled to expire on July 5, 2017.\5\
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    \4\ See Commentary .01 to Rule 968NY.
    \5\ See Securities Exchange Act Release No. 79564 (December 15,
2016), 81 FR 93716 (December 21, 2016) (SR-NYSEMKT-2016-116). The
Exchange initially adopted the program in 2010. See Securities
Exchange Act Release No. 63475 (December 8, 2010), 75 FR 77932
(December 14, 2010) (SR-NYSE Amex-2010-114).
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    An ``accommodation'' or ``cabinet'' trade refers to trades in
listed options on the Exchange that are worthless and typically not
actively traded. Trading is generally conducted in accordance with
Exchange Rules, except as provided in Exchange Rule 968NY,
Accommodation Transactions (Cabinet Trades), which sets forth specific
procedures for engaging in cabinet trades.
    Rule 968NY currently provides that cabinet transactions at a price
of $1 per option contract to occur via open outcry in any options
series open for trading on the Exchange, except option classes
participating in the Penny Pilot Program.\6\ Rule 968NY provides that
bids and offers (whether opening or closing a position) at a price of
$1 per option contract may be represented in the trading crowd by a
Floor Broker or by a Market Maker or be provided in response to a
request by a Trading Official, a Floor Broker or a Market Maker, but
must yield priority to all resting orders in the Cabinet (those orders
held by the Trading Official, and which resting cabinet orders may be
closing only). If the buyer and the seller yield to resting cabinet
orders, opening cabinet bids can trade with opening cabinet offers at
$1 per option contract.
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    \6\ The $1 cabinet trading procedures are not available in Penny
Pilot Program classes because in those classes an option series can
trade in a standard increment as low as $0.01 per share (or $1.00
per option contract with a 100 share multiplier).
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    The Exchange has amended the cabinet procedures to allow
transactions to take place in open outcry at a price of at least $0 but
less than $1 per option

contract. This amendment expires on July 5, 2017. These lower-priced
transactions are permitted to be traded pursuant to the same procedures
applicable to $1 cabinet trades, except that (i) bids and offers for
opening transactions are permitted only to accommodate closing
transactions, and (ii) transactions in option classes participating in
the Penny Pilot Program are permitted. The Exchange believes that
allowing a price of at least $0 but less than $1 better accommodates
the closing of options positions in series that are worthless or not
actively traded, particularly when there has been a significant move in
the price of the underlying security, resulting in a large number of
series being out-of-the-money. For example, a market participant might
have a long position in a put series with a strike price of $30 and the
underlying stock might be trading at $100. In such an instance, there
is likely no market to close-out the position, even at the $1 cabinet
price.
    As with other accommodation liquidations under Rule 968NY,
transactions at prices less than $1 are not disseminated to the public
on the consolidated tape. In addition, as with other accommodation
liquidations under Rule 968NY, the transactions are exempt from the
Consolidated Options Audit Trail (``COATS'') requirements of Exchange
Rule 955NY, Order Format and System Entry Requirements. However, the
Exchange maintains quotation, order and transaction information for
such transactions in the same format as the COATS data is maintained.
In this regard, all transactions for less than $1 must be reported to
the Exchange following the close of each business day.
    The Exchange notes that while the level of liquidation trades are
not meaningful, such trades serve an essential purpose in that they
allow market participants to close out options positions that are
worthless or not actively trading. To illustrate, in 2016, there were a
total of 222 Cabinet trades. Of these, 148 trades comprising 112,257
contracts were executed at a price of $0.01, while the remaining 74
trades comprising 165,868 contracts were executed for a premium of less
than $0.01. The Exchange believes this level of trading demonstrates
the benefit of the current program to market participants.
    In support of making the program permanent, the Exchange represents
that there are no operational issues in processing and clearing Cabinet
trades in penny and sub-penny increments. Each Cabinet trade is input
manually into the clearing system, and is then submitted for settlement
at the Options Clearing Corporation. Additionally, ATP Holders have not
raised any concerns with the processing of Cabinet trades.
2. Statutory Basis
    The Exchange believes that this proposed rule change is consistent
with Section 6(b) \7\ of the Securities Exchange Act of 1934 (the
``Act''), in general, and furthers the objectives of Section 6(b)(5)
\8\ of the Act in particular, in that it is designed to promote just
and equitable principles of trade, to prevent fraudulent and
manipulative acts, to remove impediments to and to perfect the
mechanism for a free and open market and a national market system, and,
in general, to protect investors and the public interest. The Exchange
believes that liquidation trades promote competition and afford market
participants the opportunity to close out their options positions. The
Exchange believes that permanently approving the rules that allow for
liquidations at a price less than $1 per option contract would better
facilitate the closing of options positions that are worthless or not
actively trading, especially in Penny Pilot issues where cabinet trades
are not otherwise permitted.
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    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes that approving the program on a permanent
basis is also consistent with the Act. With respect to the level of
liquidation trades transacted on the Exchange, the Exchange believes
that the data gathered provides meaningful support to make the program
permanent.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The Exchange believes that
approving the program on a permanent basis will not impact competition,
as it will continue to facilitate ATP Holders the ability to close
positions in worthless or not actively traded series.

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

    No written comments were solicited or received with respect to the
proposed rule change.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) By order approve or disapprove such proposed rule change, or
    (B) institute proceedings to determine whether the proposed rule
change should be disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSEMKT-2017-13 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEMKT-2017-13. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for

inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSEMKT-2017-13 and should
be submitted on or before April 13, 2017.
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    \9\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-05743 Filed 3-22-17; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 83, Number 119 (Wednesday, June 20, 2018)]
[Notices]
[Page 28631]
[FR Doc No: 2018-13206]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Notice of Document Labelling Guidance for Documents Submitted to
or Filed With the Commission or Commission Staff

    Take notice that, pursuant to National Archives and Record
Administration procedures for appropriate handling of documents (81 FR
63323 (Sept. 14, 2016)), the Commission will follow the Information
Governance Policy and Guidelines for the Protection of Sensitive
Information requirements as described below. As a result, every
submission or filing with the Commission or Commission staff that
contains sensitive material (as described below) should be labeled
controlled unclassified information (CUI). The documents described
below should be labeled as follows:
    Documents containing Critical Energy/Electric Infrastructure
Information (CEII), see 18 CFR 388.113, should include in a top center
header of each page of the document the following text: CUI//CEII.
    Documents containing information that section 388.112 of the
Commission's regulations, 18 CFR 388.112, recognizes as privileged, and
documents containing information within the scope of protective orders
and agreements in Commission proceedings, should include in a top
center header of each page of the document the following text: CUI//
PRIV.
    Documents containing multiple information types, should reference
each information type in a top center header of each page of the
document in the following format: CUI//[Information Type]/[Additional
Information Type], e.g., CUI//CEII/PRIV.
    For information that is CEII, filers are reminded that they must
clearly segregate those portions of the documents that contain CEII,
and indicate how long the CEII label should apply (not to exceed five
years unless redesignated by the CEII Coordinator). See Fixing
America's Surface Transportation Act, Public Law 114-94, 61,003, 129
Stat. 1312, 1773-1779 (2015); see also 18 CFR 388.113(d)(1)(i-ii).
    For information that is privileged or within the scope of a
protective order or agreement, filers are reminded that they also need
to clearly identify within the document those specific portions of the
document (i.e., lines or individual words or numbers)--containing such
material. See 18 CFR 388.112(b).
    This notice supersedes and clarifies an earlier notice issued April
14, 2017. (See Notice of Document Labelling Guidance for Documents
Submitted to or Filed with the Commission or Commission Staff, April
14, 2017)

    Dated: June 14, 2018.
Kimberly D. Bose,
Secretary.
[FR Doc. 2018-13206 Filed 6-19-18; 8:45 am]
BILLING CODE 6717-01-P


a wet scrubber); otherwise you may use Method 26.
    (ii) Method 320 or 321 of appendix A to part 63 of this chapter.
    (iii) ASTM Method D6735-01, Standard Test Method for Measurement of
Gaseous Chlorides and Fluorides from Mineral Calcining Exhaust
Sources--Impinger Method, provided that the provisions in paragraphs
(b)(5)(iii)(A) through (F) of this section are followed.
    (A) A test must include three or more runs in which a pair of
samples is obtained simultaneously for each run, according to section
11.2.6 of ASTM Method D6735-01.
    (B) You must calculate the test run standard deviation of each set
of paired samples to quantify data precision, according to Equation 1
of this section:
[GRAPHIC] [TIFF OMITTED] TP02DE05.000

Where:
RSDa = The test run relative standard deviation of sample
pair a, percent.
C1a and C2a = The HCl concentrations, milligram/
dry standard cubic meter(mg/dscm), from the paired samples.

    (C) You must calculate the test average relative standard deviation
according to Equation 2 of this section:
[GRAPHIC] [TIFF OMITTED] TP02DE05.001

Where:
RSDTA = The test average relative standard deviation,
percent.
RSDa = The test run relative standard deviation for sample
pair a.
p = The number of test runs, >=3.

    (D) If RSDTA is greater than 20 percent, the data are
invalid and the test must be repeated.
    (E) The post-test analyte spike procedure of section 11.2.7 of ASTM
Method D6735-01 is conducted, and the percent recovery is calculated
according to section 12.6 of ASTM Method D6735-01.
    (F) If the percent recovery is between 70 percent and 130 percent,
inclusive, the test is valid. If the percent recovery is outside of
this range, the data are considered invalid, and the test must be
repeated.
    (6) To determine compliance with the 90 percent reduction for HCl,
you must measure the HCl concentration at the inlet and outlet of the
alkaline scrubber using one of the test methods specified in paragraph
(b)(4) of this section. The concentrations should be determined on a
dry basis, corrected to 7 percent oxygen. The percent reduction is then
calculated as the difference between the inlet and outlet concentration
divided by the inlet concentration times 100.
    (c) Except as provided in paragraph (e) of this section,
performance tests required under paragraphs (b)(1) through (b)(2) and
(b)(4) through (b)(5) of this section shall be repeated every 5 years,
except the owner or operator of a kiln, in-line kiln/raw mill, or
clinker cooler is not required to repeat the initial performance test
of opacity for the kiln, in-line kiln/raw mill, or clinker cooler.
* * * * *
    6. Section 63.1350 is amended by:
    a. Revising paragraphs (h) and (n); and
    b. Adding paragraph (o) to read as follows:

Sec.  63.1350  Monitoring requirements.

* * * * *
    (h) The owner or operator of an affected source subject to a
limitation on THC emissions under this subpart shall comply with the
monitoring requirements of paragraphs (h)(1) through (3) of this
section to demonstrate continuous compliance with the THC emission
standard:
    (1) An owner or operator shall install, calibrate, maintain, and
operate a continuous THC emissions monitor meeting the requirements of
Performance Specification 8A of appendix B to part 60 of this chapter
and meet the quality assurance procedures specified in procedure 1 of
appendix F to this part. If the owner or operator elects to meet an
alternative CO emission limit, then they must install, calibrate,
maintain, and operate a continuous CO emissions monitor meeting the
requirements of Performance Specification 4B of appendix B to part 60
of this chapter and meet the quality assurance procedures specified in
procedure 1 of appendix F to this part.
    (2) The owner or operator of a greenfield raw material dryer, the
main exhaust of a greenfield kiln, or the main exhaust of a greenfield
in-line kiln/raw mill, that elects to meet the alternative Co emissions
limit is not required to calculate hourly rolling averages in
accordance with section 4.9 of Performance Specification 8A.
    (3) Any CO or THC emissions that exceed the emission limits in
Sec.  63.1343 using the averaging periods specified in Sec.  63.1343 is
a violation of the standard.
* * * * *
    (n) An owner or operator of an affected source subject to HCl
emissions must comply by establishing and complying with the following
operating parameter limits for a wet scrubber.
    (1) If your source is equipped with a high energy wet scrubber such
as a venturi, hydrosonic, collision, or free jet wet scrubber, you must
establish a limit on minimum pressure drop across the wet scrubber on
an hourly rolling average as the average of the test run averages.
    (2) If your source is equipped with a low energy wet scrubber such
as a spray tower, packed bed, or tray tower, you must establish a
minimum pressure drop across the wet scrubber based on manufacturer's
specifications. You must comply with the limit on an hourly rolling
average.
    (3) If your source is equipped with a low energy wet scrubber, you
must establish a limit on minimum liquid feed pressure to the wet
scrubber based on manufacturer's specifications. You must comply with
the limit on an hourly rolling average.
    (4) You must establish a limit on minimum pH on an hourly rolling
average as the average of the test run averages.
    (5) You must establish limits on either the minimum liquid to gas
ratio or both the minimum scrubber water flowrate and maximum flue gas
flowrate on an hourly rolling average as the average of the test run
averages.
    (o) An owner or operator of an affected source subject to an HCl
emissions limit and using a dry scrubber must comply by establishing
and meeting all of the following operating parameter limits specified
in paragraphs (o)(1) through (o)(3) of this section.
    (1) Minimum sorbent feedrate. You must establish a limit on minimum
sorbent feedrate on an hourly rolling average as the average of the
test run averages.

    (2) Minimum carrier fluid flowrate or nozzle pressure drop. You
must establish a limit on minimum carrier fluid (gas or liquid)
flowrate or nozzle pressure drop based on manufacturer's
specifications.
    (3) Sorbent specifications. (i) You must specify and use the brand
(i.e., manufacturer) and type of sorbent used during the comprehensive
performance test until a subsequent comprehensive performance test is
conducted, unless you document in the site-specific performance test
plan required under Sec.  63.1207(e) and (f) key parameters that affect
adsorption and establish limits on those parameters based on the
sorbent used in the performance test.
    (ii) You may substitute at any time a different brand or type of
sorbent provided that the replacement has equivalent or improved
properties compared to the sorbent used in the performance test and
conforms to the key sorbent parameters you identify under paragraph
(o)(3) of this section. You must record in the operating record
documentation that the substitute sorbent will provide the same level
of control as the original sorbent.
    7. Section 63.1351 is amended by adding paragraphs (c) and (d) to
read as follows:

Sec.  63.1351  Compliance dates.

* * * * *
    (c) The compliance date for an affected source that commenced
construction on or before December 2, 2005, subject to the revised THC
and HCl emissions limits proposed on December 2, 2005, will be 1 year
after publication of the final amendments.
    (d) The compliance date for an affected source that commenced
construction after December 2, 2005, subject to the revised THC and HCl
emissions limits proposed on December 2, 2005, will be startup or the
effective date of the final amendments, whichever is later.
    8. Section 63.1356 is amended by adding paragraphs (a)(1) and (2)
to read as follows:

Sec.  63.1356  Exemption from new source performance standards.

    (a) * * *
    (1) Kilns and in-line kiln/raw mills, as applicable, under 40 CFR
60.60(b), located at area sources are subject to PM and opacity limits
and associated reporting and recordkeeping, under 40 CFR part 60,
subpart F.
    (2) Greenfield raw material dryers, as applicable under 40 CFR
60.60(b), located at area sources, are subject to opacity limits and
associated reporting and recordkeeping under 40 CFR part 60, subpart F.
* * * * *
[FR Doc. 05-23419 Filed 12-1-05; 8:45 am]

BILLING CODE 6560-50-P


[Federal Register Volume 78, Number 70 (Thursday, April 11, 2013)]
[Notices]
[Page 21705]
[FR Doc No: 2013-08490]

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DEPARTMENT OF TRANSPORTATION

Federal Railroad Administration

[Docket Number FRA-2013-0019]

Petition for Waiver of Compliance

    In accordance with Part 211 of Title 49 Code of Federal Regulations
(CFR), this document provides the public notice that by a document
dated February 21, 2013, the Old Augusta Railroad (OAR) has petitioned
the Federal Railroad Administration (FRA) for a waiver of compliance
from certain provisions of the Federal hours of service laws contained
at 49 U.S.C. 21103(a)(4). FRA assigned the petition Docket Number FRA-
2013-0019.
    In its petition, OAR seeks relief from 49 U.S.C. 21103(a)(4),
which, in part, requires a train employee to receive 48 hours off-duty
after initiating an on-duty period for 6 consecutive days.
Specifically, OAR seeks a waiver to allow a train employee to initiate
an on-duty period each day for 7 consecutive days followed by 1 day off
duty and an 8th day assignment with 2 days off duty. In support of its
request, OAR submitted documents demonstrating its employees' support
for the requested waiver and a description of its employees' work
schedules. According to OAR, train employees have set start times and
set off-duty days, and do not lay over at away-from-home terminals.
Additionally, OAR claims that it operates one switching job per day,
serving only one industry in a 12-hour cycle. The typical duty tour is
from 5 a.m. to 5 p.m., 7 days per week, with an occasional switching
move outside of the regular shift. Two crews share the 7-day-per-week
schedule. OAR also states that before the Rail Safety Improvement Act
of 2008, its employees worked 7 days on, 7 days off, subject to an
infrequent call. OAR asserts that its employees worked this type of
schedule for 18 years without any safety problems, and that it was
awarded the American Short Line and Regional Railroad Association Jake
Award each year during those 18 years.
    A copy of the petition, as well as any written communications
concerning the petition, is available for review online at
www.regulations.gov and in person at the U.S. Department of
Transportation's (DOT) Docket Operations Facility, 1200 New Jersey
Avenue SE., W12-140, Washington, DC 20590. The Docket Operations
Facility is open from 9 a.m. to 5 p.m., Monday through Friday, except
Federal Holidays.
    Interested parties are invited to participate in these proceedings
by submitting written views, data, or comments. FRA does not anticipate
scheduling a public hearing in connection with these proceedings since
the facts do not appear to warrant a hearing. If any interested party
desires an opportunity for oral comment, they should notify FRA, in
writing, before the end of the comment period and specify the basis for
their request.
    All communications concerning these proceedings should identify the
appropriate docket number and may be submitted by any of the following
methods:
     Web site: http://www.regulations.gov. Follow the online
instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: Docket Operations Facility, U.S. Department of
Transportation, 1200 New Jersey Avenue SE., W12-140, Washington, DC
20590.
     Hand Delivery: 1200 New Jersey Avenue SE., Room W12-140,
Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday,
except Federal Holidays.
    Communications received by May 28, 2013 will be considered by FRA
before final action is taken. Comments received after that date will be
considered as far as is practicable.
    Anyone is able to search the electronic form of any written
communications and comments received into any of our dockets by the
name of the individual submitting the comment (or signing the document,
if submitted on behalf of an association, business, labor union, etc.).
See http://www.regulations.gov/#!privacyNotice for the privacy notice
of regulations.gov or interested parties may review DOT's complete
Privacy Act Statement in the Federal Register published on April 11,
2000 (65 FR 19477).

     Issued in Washington, DC, on April 8, 2013.
Robert C. Lauby,
Deputy Associate Administrator for Regulatory and Legislative
Operations.
[FR Doc. 2013-08490 Filed 4-10-13; 8:45 am]
BILLING CODE 4910-06-P