[Federal Register Volume 76, Number 148 (Tuesday, August 2, 2011)]
[Notices]
[Page 46337]
[FR Doc No: 2011-19648]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Tuesday, August
2, 2011 at 2 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
    The General Counsel of the Commission, or his designee, has
certified that, in his opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(5), (7), 9(B) and (10) and 17 CFR 200.402(a)((5),
(7), 9(ii) and (10), permit consideration of the scheduled matters at
the Closed Meeting.
    Commissioner Casey, as duty officer, voted to consider the items
listed for the Closed Meeting in a closed session, and determined that
no earlier notice thereof was possible.
    The subject matter of the Closed Meeting scheduled for Tuesday,
August 2, 2011 will be:
    Settlement of injunctive actions;
    Institution and settlement of administrative proceedings; and
    Other matters relating to enforcement proceedings.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact:
    The Office of the Secretary at<PHONE_NUMBER>.

    Dated: July 29, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-19648 Filed 7-29-11; 4:15 pm]
BILLING CODE 8011-01-P


[Federal Register Volume 86, Number 33 (Monday, February 22, 2021)]
[Notices]
[Pages 10563-10565]
[FR Doc No: 2021-03496]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following electric
corporate filings:

    Docket Numbers: EC21-53-000.
    Applicants: Big Sky Wind, LLC, Vitol Wind I LLC, Vitol Holding B.V.
    Description: Application for Authorization Under Section 203 of the
Federal Power Act of Big Sky Wind, LLC, et al.
    Filed Date: 2/12/21.
    Accession Number: 20210212-5280.
    Comments Due: 5 p.m. ET 3/5/21.

    Take notice that the Commission received the following exempt
wholesale generator filings:

    Docket Numbers: EG21-89-000.
    Applicants: Chisholm Grid, LLC.
    Description: Notice of Self-Certification of Exempt Wholesale
Generation Status of Chisholm Grid, LLC.
    Filed Date: 2/12/21.
    Accession Number: 20210212-5260.
    Comments Due: 5 p.m. ET 3/5/21.

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER10-2566-013; ER13-2322-009; ER15-190-017; ER18-
1343-009; ER19-1819-004; ER19-1820-004; ER19-1821-004.
    Applicants: Duke Energy Carolinas, LLC, Broad River Solar, LLC,
Carolina Solar Power, LLC, Speedway Solar NC, LLC, Stony Knoll Solar,
LLC, Duke Energy Progress, LLC, Duke Energy Renewable Services, LLC.
    Description: Notice of Change in Status of the Duke MBR Sellers
under ER10-2566, et al.

    Filed Date: 2/11/21.
    Accession Number: 20210211-5194.
    Comments Due: 5 p.m. ET 3/4/21.

    Docket Numbers: ER19-2722-003.
    Applicants: PJM Interconnection, L.L.C.
    Description: Compliance filing: Second Fast-Start Compliance Docket
No. EL18-34 to be effective 12/31/9998.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5218.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER20-1085-001.
    Applicants: Virginia Electric and Power Company, PJM
Interconnection, L.L.C.
    Description: Compliance filing: Dominion submits Deficiency Filing
in ER20-1085-000 to be effective 1/27/2020.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5244.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER20-1734-001.
    Applicants: Alabama Power Company.
    Description: Compliance filing: Order No. 864 OATT Deficiency
Response Filing to be effective N/A.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5015.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER20-1735-001.
    Applicants: Alabama Power Company.
    Description: Compliance filing: Order No. 864 TFCAT & Related Gulf
TFCAT Service Agreements Deficiency Response to be effective N/A.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5016.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1139-000.
    Applicants: Southwestern Electric Power Company.
    Description: Sec.  205(d) Rate Filing: SWEPCO-ETEC Deep East Loop
Contracting Services Agreement--Amended to be effective 2/1/2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5011.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1140-000.
    Applicants: Public Service Company of Colorado.
    Description: Sec.  205(d) Rate Filing: 2021-02-xx Western EIM
Energy Imbalance Subentity Agrmt-0.0.0 to be effective 1/20/2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5014.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1141-000.
    Applicants: Hog Creek Wind Project, LLC.
    Description: Sec.  205(d) Rate Filing: Reactive Power Compensation
Filing to be effective 2/17/2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5019.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1142-000.
    Applicants: NedPower Mount Storm, LLC.
    Description: Request for Limited Waiver and Expedited Consideration
of NedPower Mount Storm LLC.
    Filed Date: 2/12/21.
    Accession Number: 20210212-5265.
    Comments Due: 5 p.m. ET 3/5/21.

    Docket Numbers: ER21-1143-000.
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Sec.  205(d) Rate Filing: 2021-02-16_SA 3164 LA3 West
Baton Rouge-Entergy Louisiana 1st Rev GIA (J683) to be effective 2/9/
2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5044.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1144-000.
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Sec.  205(d) Rate Filing: 2021-02-16_SA 3181 Glaciers
Edge-MidAmerican 2nd Rev GIA (J506) to be effective 2/9/2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5053.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1145-000.
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Sec.  205(d) Rate Filing: 2021-02-16_SA 3365 METC-
Calhoun Solar Energy 1st Rev GIA (J758) to be effective 2/3/2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5073.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1147-000.
    Applicants: Public Service Company of New Hampshire.
    Description: Sec.  205(d) Rate Filing: Engineering, Design, and
Procurement Agreement with NECEC Transmission LLC to be effective 2/16/
2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5162.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1148-000.
    Applicants: NorthWestern Corporation.
    Description: Sec.  205(d) Rate Filing: Ministerial Filing to
Synchronize Tariff Changes Accepted in Overlapping Dockets to be
effective 1/25/2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5171.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1149-000.
    Applicants: Mobile Energy, LLC.
    Description: Sec.  205(d) Rate Filing: Clean-Up Revisions to
Market-Based Rate Tariff and Request for Waiver to be effective 2/17/
2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5173.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1150-000.
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Sec.  205(d) Rate Filing: 2020-02-16_Q1 Clean Up
Filing to be effective 6/12/2020.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5185.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1151-000.
    Applicants: Public Service Company of New Hampshire.
    Description: Sec.  205(d) Rate Filing: Related Facilities Agreement
with NECEC Transmission LLC to be effective 2/16/2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5186.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1152-000.
    Applicants: Midcontinent Independent System Operator, Inc.
    Description: Sec.  205(d) Rate Filing: 2021-02-16_SA 2985
MidAmerican-MidAmerican 2nd Rev GIA (J499) to be effective 2/3/2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5189.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1153-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Amendment to ISA, SA No.
3459; Queue X2-076 (amend) to be effective 11/27/2012.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5196.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1154-000.
    Applicants: ISO New England Inc., Fitchburg Gas and Electric Light
Company.
    Description: Compliance filing: Fitchburg Gas & Electric Co. Docket
ER20-2575 Supplemental Order 864 Comp Filing to be effective 1/1/2020.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5206.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1155-000.
    Applicants: Southwest Power Pool, Inc.
    Description: Sec.  205(d) Rate Filing: Revisions to Modify Section
2.11.1 of Attachment AE to be effective 4/18/2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5216.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1156-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Tariff Cancellation: Notice of Cancellation of WMPA,
SA

No. 5415; Queue No. AD2-215 re: withdrawal to be effective 3/15/2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5236.
    Comments Due: 5 p.m. ET 3/9/21.

    Docket Numbers: ER21-1157-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Original ISA, SA No. 5958;
Queue No. AC1-074 to be effective 1/19/2021.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5243.
    Comments Due: 5 p.m. ET 3/9/21.

    Take notice that the Commission received the following electric
securities filings:

    Docket Numbers: ES21-31-000.
    Applicants: Transource Oklahoma, LLC.
    Description: Application under Section 204 of the Federal Power Act
for Authorization to Issue Securities for Transource Oklahoma, LLC.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5227.
    Comments Due: 5 p.m. ET 3/9/21.

    Take notice that the Commission received the following PURPA
210(m)(3) filings:

    Docket Numbers: QM21-3-000.
    Applicants: Montana-Dakota Utilities Company.
    Description: Application of Montana-Dakota Utilities Company to
Terminate Mandatory Purchase Obligation under the Public Utility
Regulatory Policies Act of 1978.
    Filed Date: 2/16/21.
    Accession Number: 20210216-5226.
    Comments Due: 5 p.m. ET 3/16/21.

    The filings are accessible in the Commission's eLibrary system
(https://elibrary.ferc.gov/idmws/search/fercgensearch.asp) by querying
the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: February 16, 2021.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2021-03496 Filed 2-19-21; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register: January 25, 2007 (Volume 72, Number 16)]
[Notices]
[Page 3462-3466]
[DOCID:fr25ja07-90]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55125; File No. SR-NYSEArca-2006-87]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Order Granting Accelerated Approval of Proposed Rule Change as
Modified by Amendment No. 1 Thereto To Trade Shares of 81 Funds of the
ProShares Trust Pursuant to Unlisted Trading Privileges

January 18, 2007.
    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, 2006, NYSE Arca, Inc. (``Exchange''), through its
wholly owned subsidiary NYSE Arca Equities, Inc. (``NYSE Arca
Equities''), filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been substantially prepared by the Exchange.
On January 11, 2007, the Exchange filed Amendment No. 1 to the proposed
rule change. This order provides notice of the proposed rule change, as
amended, and approves the proposal on an accelerated basis.
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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, through NYSE Arca Equities, proposes to trade
pursuant to unlisted trading privileges (``UTP'') shares (``Shares'')
of 81 funds (``Funds'') of the ProShares Trust (``Trust'') based on
numerous underlying securities indexes.
    The text of the proposed rule change is available on the Exchange's
Web site at (http://www.nysearca.com), at the Exchange's Office of the

Secretary, and at the Commission.

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 III below. The Exchange has prepared summaries, set forth in
Sections A, B, and C below, of the most significant aspects of such
statements.

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

1. Purpose
    The Exchange proposes to trade the Shares of the 81 Funds pursuant
to UTP under NYSE Arca Equities Rule 5.2(j)(3).\3\ The Commission has
approved the original listing and trading of the Shares on the American
Stock Exchange LLC (``Amex'').\4\
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    \3\ Under NYSE Arca Equities Rule 5.2(j)(3) the Exchange may
propose to list and/or trade pursuant to UTP ``Investment Company
Units.''
    \4\ See Securities Exchange Act Release No. 55117 (January 17,
2007) (SR-Amex-2006-101).
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    The Funds are referred to as the Ultra Funds, Short Funds, and
UltraShort Funds, as described more fully below. Each Fund would
attempt, on a daily basis, to achieve its investment objective by
corresponding to a specified multiple of the performance, or the
inverse performance, of a particular equity securities index that
underlies that Fund (each an ``Underlying Index'').
    Ultra Funds:
    Certain Funds seek daily investment results, before fees and
expenses, that correspond to twice (200%) the daily performance of the
Underlying Indexes (``Ultra Funds'').\5\ If such Funds meet

their objective, the net asset value (the ``NAV'') \6\ of the Shares of
each Fund should increase (on a percentage basis) approximately twice
as much as the Fund's Underlying Index when the prices of the
securities in such Index increase on a given day, and should lose
approximately twice as much when such prices decline on a given day.
The Short Funds and UltraShort Funds (as described below) each have
investment objectives that seek investment results corresponding to an
inverse performance of the Underlying Indexes.
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    \5\ The Commission has previously approved trading certain Ultra
Funds, Short Funds, and UltraShort Funds of the ProShares Trust on
the Exchange pursuant to UTP under NYSE Arca Equities Rule
5.2(j)(3). See Securities Exchange Act Release No. 54026 (June 21,
2006), 71 FR 36850 (June 28, 2006) (SR-PCX-2005-115).
    \6\ NAV per Share of each Fund is computed by dividing the value
of the net assets of such Fund (i.e., the value of its total assets
less total liabilities) by its total number of Shares outstanding.
Expenses and fees are accrued daily and taken into account for
purposes of determining NAV.
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    The Ultra Funds are (1) Ultra Russell 2000, (2) Ultra S&P SmallCap
600, (3) Ultra S&P500/Citigroup Value, (4) Ultra S&P500/Citigroup
Growth, (5) Ultra S&P MidCap 400/Citigroup Value, (6) Ultra S&P MidCap
400/Citigroup Growth, (7) Ultra S&P SmallCap 600/Citigroup Value, (8)
Ultra S&P SmallCap 600/Citigroup Growth, (9) Ultra Basic Materials,
(10) Ultra Consumer Goods, (11) Ultra Consumer Services, (12) Ultra
Financials, (13) Ultra Health Care, (14) Ultra Industrials, (15) Ultra
Oil & Gas, (16) Ultra Real Estate, (17) Ultra Semiconductors, (18)
Ultra Technology, (19) Ultra Utilities, (20) Ultra Russell Midcap
Index, (21) Ultra Russell Midcap Growth Index, (22) Ultra Russell
Midcap Value Index, (23) Ultra Russell 1000 Index, (24) Ultra Russell
1000 Growth Index, (25) Ultra Russell 1000 Value Index, (26) Ultra
Russell 2000 Growth Index, and (27) Ultra Russell 2000 Value Index.

Short Funds

    The Exchange also proposes to trade Shares of certain Funds that
seek daily investment results, before fees and expenses, that
correspond to the inverse or opposite of the daily performance (-100%)
of the Underlying Indexes (``Short Funds''). If such a Fund is
successful in meeting its objective, the NAV of the corresponding
Shares should increase approximately as much (on a percentage basis) as
the respective Underlying Index loses when the prices of the securities
in the Index decline on a given day, or should decrease approximately
as much as the respective Index gains when prices in the Index rise on
a given day.
    The Short Funds are (1) Short Russell 2000, (2) Short S&P SmallCap
600, (3) Short S&P500/Citigroup Value, (4) Short S&P500/Citigroup
Growth, (5) Short S&P MidCap 400/Citigroup Value, (6) Short S&P MidCap
400/Citigroup Growth, (7) Short S&P SmallCap 600/Citigroup Value, (8)
Short S&P SmallCap 600/Citigroup Growth, (9) Short Basic Materials,
(10) Short Consumer Goods, (11) Short Consumer Services, (12) Short
Financials, (13) Short Health Care, (14) Short Industrials, (15) Short
Oil & Gas, (16) Short Real Estate, (17) Short Semiconductors, (18)
Short Technology, (19) Short Utilities, (20) Short Russell Midcap
Index, (21) Short Russell Midcap Growth Index, (22) Short Russell
Midcap Value Index, (23) Short Russell 1000 Index, (24) Short Russell
1000 Growth Index, (25) Short Russell 1000 Value Index, (26) Short
Russell 2000 Growth Index, and (27) Short Russell 2000 Value Index.

Ultra-Short Funds

    The Exchange also proposes to trade Shares of certain Funds that
seek daily investment results, before fees and expenses, that
correspond to twice the inverse (-200%) of the daily performance of the
Underlying Indexes (``UltraShort Funds''). If such a Fund is successful
in meeting its objective, the NAV of the corresponding Shares should
increase approximately twice as much (on a percentage basis) as the
respective Underlying Index loses when the prices of the securities in
the Index decline on a given day, or should decrease approximately
twice as much as the respective Underlying Index gains when such prices
rise on a given day.
    The UltraShort Funds include (1) UltraShort Russell 2000, (2)
UltraShort S&P SmallCap 600, (3) UltraShort S&P500/Citigroup Value, (4)
UltraShort S&P500/Citigroup Growth, (5) UltraShort S&P MidCap 400/
Citigroup Value, (6) UltraShort S&P MidCap 400/Citigroup Growth, (7)
UltraShort S&P SmallCap 600/Citigroup Value, (8) UltraShort S&P
SmallCap 600/Citigroup Growth, (9) UltraShort Basic Materials, (10)
UltraShort Consumer Goods, (11) UltraShort Consumer Services, (12)
UltraShort Financials, (13) UltraShort Health Care, (14) UltraShort
Industrials, (15) UltraShort Oil & Gas, (16) UltraShort Real Estate,
(17) UltraShort Semiconductors, (18) UltraShort Technology, (19)
UltraShort Utilities, (20) UltraShort Russell Midcap Index, (21)
UltraShort Russell Midcap Growth Index, (22) UltraShort Russell Midcap
Value Index, (23) UltraShort Russell 1000 Index, (24) UltraShort
Russell 1000 Growth Index, (25) UltraShort Russell 1000 Value Index,
(26) UltraShort Russell 2000 Growth Index, and (27) UltraShort Russell
2000 Value Index.
    The Exchange deems the Shares to be equity securities, thus
rendering trading in the Shares subject to the Exchange's existing
rules governing the trading of equity securities. Amex would
disseminate for each Fund on a daily basis by means of Consolidated
Tape Association (``CTA'') and CQ High Speed Lines information with
respect to an Indicative Intra-Day Value (``IIV'') (as defined and
discussed below), quotations for and last sale information concerning
the shares, recent NAV, shares outstanding, and estimated and total
cash amount per Creation Unit. Amex would make available on its Web
site daily trading volume, closing price, NAV and final dividend
amounts to be paid for each Fund. The NAV of each Fund is calculated
and determined each business day at the close of regular trading,
typically 4 p.m. Eastern Time (``ET''). The NAV would be calculated and
disseminated at the same time to all market participants.\7\
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    \7\ Amex has represented that if the NAV is not disseminated to
all market participants at the same time, it would halt trading in
the shares of the Funds. If Amex halts trading for this reason, then
the Exchange would do so as well.
---------------------------------------------------------------------------

    The daily closing index value and the percentage change in the
daily closing index value for each Underlying Index would be publicly
available on various Web sites such as http://www.bloomberg.com. Data

regarding each Underlying Index is also available from the respective
index provider to subscribers. Several independent data vendors also
package and disseminate index data in various value-added formats
(including vendors displaying both securities and index levels and
vendors displaying index levels only).
    The value of each Underlying Index would be updated intra-day on a
real-time basis as its individual component securities change in price,
and the intra-day values of each Underlying Index would be disseminated
at least every 15 seconds throughout Amex's trading day (i.e., the
Exchange's Core Trading Session) by Amex or another organization
authorized by the relevant Underlying Index provider.
    To provide updated information relating to each Fund for use by
investors, professionals, and persons wishing to create or redeem
Shares, Amex would disseminate through the facilities of the CTA: (1)
Continuously throughout Amex's trading day (i.e., the Exchange's Core
Trading session), the market value of a Share; and (2) at least every
15 seconds throughout Amex's trading day (i.e., the Exchange's Core
Trading session), the IIV as calculated

by the Amex. Comparing these two figures helps an investor to determine
whether, and to what extent, the Shares may be selling at a premium or
a discount to NAV.
    Shares would trade on the NYSE Arca Marketplace from 9:30 a.m. ET
until 8 p.m. ET, even if the IIV is not disseminated from 4:15 p.m. ET
to 8 p.m. ET.\8\ The Exchange has appropriate rules to facilitate
transactions in the Shares during these trading sessions.
---------------------------------------------------------------------------

    \8\ Because NSCC does not disseminate the new basket amount to
market participants until approximately 6 p.m. to 7 p.m. ET, an
updated IIV is not possible to calculate during the Exchange's late
trading session (from 4:15 p.m. to 8 p.m. ET). The Exchange also
states that the official index sponsors for the Underlying Indexes
currently do not calculate updated index values during the
Exchange's late trading session; however, if the index sponsors do
so in the future, the Exchange would not trade this product unless
such official index value is widely disseminated.
---------------------------------------------------------------------------

    Each investor would have access to the current portfolio
composition of each Fund through the Trust's Web site (http://www.proshares.com) \9\ and/or at Amex's Web site (http://www.amex.com).

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

    \9\ The Trust's Web site is publicly accessible at no charge,
and contains the following information for each Fund's Shares: (1)
The prior business day's closing NAV, the reported closing price,
and a calculation of the premium or discount of such price in
relation to the closing NAV; (2) data for a period covering at least
the four previous calendar quarters (or the life of a Fund, if
shorter) indicating how frequently each Fund's Shares traded at a
premium or discount to NAV based on the daily closing price and the
closing NAV, and the magnitude of such premiums and discounts; (3)
its prospectus and product description; and (4) other quantitative
information such as daily trading volume. The prospectus and/or
product description for each Fund would inform investors that the
Trust's Web site has information about the premiums and discounts at
which the Fund's Shares have traded.
---------------------------------------------------------------------------

    With respect to trading halts, the Exchange may consider all
relevant factors in exercising its discretion to halt or suspend
trading in the Shares of a Fund. Trading may be halted because of
market conditions or for reasons that, in the view of the Exchange,
make trading in the Shares inadvisable. These may include: (1) The
extent to which trading is not occurring in the securities comprising
an Underlying Index and/or the Financial Instruments of a Fund, or (2)
whether other unusual conditions or circumstances detrimental to the
maintenance of a fair and orderly market are present. In addition,
trading in Shares would be subject to trading halts caused by
extraordinary market volatility pursuant to the Exchange's ``circuit
breaker'' rule \10\ or by the halt or suspension of trading of the
underlying securities.
---------------------------------------------------------------------------

    \10\ See NYSE Arca Equities Rule 7.12.
---------------------------------------------------------------------------

    Moreover, the Exchange represents that it would cease trading the
Shares of a Fund if the listing market stops trading the Shares because
of a regulatory halt similar to a halt based on NYSE Arca Equities Rule
7.12. UTP trading in the Shares is also governed by the trading halts
provisions of NYSE ARCA Equities Rule 7.34 relating to temporary
interruptions in the calculation or wide dissemination of the IIV or
the value of the underlying index.
    Shares would be deemed ``Eligible Listed Securities,'' as defined
in NYSE Arca Equities Rule 7.55, for purposes of the Intermarket
Trading System (``ITS'') Plan and therefore would be subject to the
trade through provisions of NYSE Arca Equities Rule 7.56, which require
that ETP Holders avoid initiating trade-throughs for ITS securities.
    Unless exemptive or no-action relief is available, the Shares would
be subject to the short sale rule, Rule 10a-1, and Regulation SHO under
the Act. If exemptive or no-action relief is provided, the Exchange
would issue a notice detailing the terms of the exemption or relief.
    Prior to the commencement of trading, the Exchange would inform its
ETP Holders in an Information Bulletin of the special characteristics
and risks associated with trading the Shares. Specifically, the
Information Bulletin would discuss the following: (1) The procedures
for purchases and redemptions of Shares in Creation Unit Aggregations
(and that Shares are not individually redeemable); (2) NYSE Arca
Equities Rule 9.2(a), which imposes a duty of due diligence on its ETP
Holders to learn the essential facts relating to every customer prior
to trading the Shares; (3) how information regarding the IIV is
disseminated; (4) the requirement that ETP Holders deliver a prospectus
to investors purchasing newly issued Shares prior to or concurrently
with the confirmation of a transaction; and (5) trading information.
    The Information Bulletin would reference that the Fund is subject
to various fees and expenses described in the Registration Statement.
The Bulletin would also discuss any exemptive, no-action, interpretive
relief granted by the Commission from any rules under the Act. The
Information Bulletin would disclose that the NAV for the Shares would
be calculated after 4 p.m. ET each trading day.
    The Exchange intends to utilize its existing surveillance
procedures applicable to derivative products to monitor trading in the
Shares. The Exchange represents that these procedures are adequate to
properly monitor Exchange trading of the Shares in all trading sessions
and to deter and detect violations of Exchange rules. The Exchange's
current trading surveillance focuses on detecting securities trading
outside their normal patterns. When such situations are detected,
surveillance analysis follows and investigations are opened, where
appropriate, to review the behavior of all relevant parties for all
relevant trading violations. In addition, the Exchange also has a
general policy prohibiting the distribution of material, non-public
information by its employees. Finally, the Exchange may obtain
information via the Intermarket Surveillance Group (``ISG'') from other
exchanges who are members or affiliates of the ISG.\11\
---------------------------------------------------------------------------

    \11\ For a list of the current members and affiliate members of
ISG, see http://www.isgportal.com.

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

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\12\ in general, and furthers the
objectives of Section 6(b)(5) \13\ in particular in that it is designed
to prevent fraudulent and manipulative acts and practices, to promote
just and equitable principles of trade, to foster cooperation and
coordination with persons engaged in facilitating transactions in
securities, and to remove impediments to and perfect the mechanism of a
free and open market and a national market system.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78f(b).
    \13\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In addition, the Exchange believes that the proposed rule change is
consistent with Rule 12f-5 \14\ under the Act because it deems the
Shares to be equity securities, thus rendering the Shares subject to
the Exchange's rules governing the trading of equity securities.
---------------------------------------------------------------------------

    \14\ 17 CFR 240.12f-5.
---------------------------------------------------------------------------

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

    The Exchange does not believe that the proposed rule change would
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.

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

    Written comments on the proposed rule change were neither solicited
nor received.

III. 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 e-mail to<EMAIL_ADDRESS>Please include

File Number SR-NYSEArca-2006-87 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
    All submissions should refer to File Number SR-NYSEArca-2006-87.
This file number should be included on the subject line if e-mail 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 inspection
and copying in the Commission's Public Reference Room. Copies of such
filing also will be available for inspection and copying at the
principal office of the Exchange. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File Number SR-NYSEArca-2006-87 and should be submitted on or before
February 15, 2007.

IV. Commission's Findings and Order Granting Accelerated Approval of
the Proposed Rule Change

    After careful review, the Commission finds that the proposed rule
change, as amended, is consistent with the requirements of the Act and
the rules and regulations thereunder applicable to a national
securities exchange.\15\ In particular, the Commission finds that the
proposed rule change is consistent with Section 6(b)(5) of the Act,\16\
which requires that an exchange have rules designed, among other
things, to promote just and equitable principles of trade, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and in general to protect investors and the
public interest. The Commission believes that this proposal should
benefit investors by increasing competition among markets that trade
the Shares.
---------------------------------------------------------------------------

    \15\ In approving this rule change, the Commission notes that it
has considered the proposal's impact on efficiency, competition, and
capital formation. See 15 U.S.C. 78c(f).
    \16\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In addition, the Commission finds that the proposal is consistent
with Section 12(f) of the Act,\17\ which permits an exchange to trade,
pursuant to UTP, a security that is listed and registered on another
exchange.\18\ The Commission notes that it previously approved the
listing and trading of the Shares on Amex.\19\ The Commission also
finds that the proposal is consistent with Rule 12f-5 under the
Act,\20\ which provides that an exchange shall not extend UTP to a
security unless the exchange has in effect a rule or rules providing
for transactions in the class or type of security to which the exchange
extends UTP. The Exchange has represented that it meets this
requirement because it deems the Shares to be equity securities, thus
rendering trading in the Shares subject to the Exchange's existing
rules governing the trading of equity securities.
---------------------------------------------------------------------------

    \17\ 15 U.S.C. 78l(f).
    \18\ Section 12(a) of the Act, 15 U.S.C. 78l(a), generally
prohibits a broker-dealer from trading a security on a national
securities exchange unless the security is registered on that
exchange pursuant to Section 12 of the Act. Section 12(f) of the Act
excludes from this restriction trading in any security to which an
exchange ``extends UTP.'' When an exchange extends UTP to a
security, it allows its members to trade the security as if it were
listed and registered on the exchange even though it is not so
listed and registered.
    \19\ See supra note 4.
    \20\ 17 CFR 240.12f-5.
---------------------------------------------------------------------------

    The Commission further believes that the proposal is consistent
with Section 11A(a)(1)(C)(iii) of the Act,\21\ which sets forth
Congress' finding that it is in the public interest and appropriate for
the protection of investors and the maintenance of fair and orderly
markets to assure the availability to brokers, dealers, and investors
of information with respect to quotations for and transactions in
securities. Quotations for and last sale information regarding the
Shares are disseminated through the facilities of the CTA and the
Consolidated Quotation System. Furthermore, the IIV, updated to reflect
changes in currency exchange rates, will be calculated by Amex and
published via the facilities of the Consolidated Tape Association on a
15-second delayed basis throughout the Exchange's Core Trading Session.
In addition, if the listing market halts trading when the IIV is not
being calculated or disseminated, the Exchange would halt trading in
the Shares. The Exchange has represented that it would follow the
procedures with respect to trading halts set forth in NYSE Arca
Equities Rule 7.34.
---------------------------------------------------------------------------

    \21\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
---------------------------------------------------------------------------

    The Commission notes that, if the Shares should be delisted by the
listing exchange, the Exchange would no longer have authority to trade
the Shares pursuant to this order.
    In support of this proposal, the Exchange has made the following
representations:
    1. The Exchange's surveillance procedures are adequate to properly
monitor Exchange trading of the Shares in all trading sessions and to
deter and detect violations of Exchange rules.
    2. Prior to the commencement of trading, the Exchange would inform
its ETP Holders in an Information Bulletin of the special
characteristics and risks associated with trading the Shares.
    3. Prior to the commencement of trading, the Exchange would inform
its ETP Holders in an Information Bulletin the requirement that ETP
Holders deliver a prospectus to investors purchasing newly issued
Shares prior to or concurrently with the confirmation of a transaction.
    This approval order is conditioned on the Exchange's adherence to
these representations.
    The Commission finds good cause for approving this proposal before
the thirtieth day after the publication of notice thereof in the
Federal Register. As noted previously, the Commission previously found
that the listing and trading of the Shares on Amex is consistent with
the Act. The Commission presently is not aware of any regulatory issue
that should cause it to revisit that finding or would preclude the
trading of the Shares on the Exchange pursuant to UTP. Therefore,
accelerating approval of this proposal should benefit investors by
creating, without undue delay, additional competition in the market for
the Shares.

V. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\22\ that the proposed rule change (SR-NYSEArca-

2006-87), as amended, be and it hereby is, approved on an accelerated
basis.
---------------------------------------------------------------------------

    \22\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\23\
---------------------------------------------------------------------------

    \23\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Nancy M. Morris,
Secretary.
 [FR Doc. E7-1058 Filed 1-24-07; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 76, Number 32 (Wednesday, February 16, 2011)]
[Proposed Rules]
[Pages 8921-8922]
[FR Doc No: 2011-3413]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2011-0016; Airspace Docket No. 11-ANM-1]

Proposed Modification of Class E Airspace; Poplar, MT

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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

SUMMARY: This action proposes to modify Class E airspace at Poplar
Municipal Airport, Poplar, MT. The airport was moved 1.5 nautical miles
(NM) to the northeast. Controlled airspace is necessary to accommodate
aircraft using new Area Navigation (RNAV) Global Positioning System
(GPS) standard instrument approach procedures at Poplar Municipal
Airport, Poplar, MT. The FAA is proposing this action to enhance the
safety and management of aircraft operations at Poplar Municipal
Airport, Poplar, MT. This will also correct the airport name from
Poplar Airport.

DATES: Comments must be received on or before April 4, 2011.

ADDRESSES: Send comments on this proposal to the U.S. Department of
Transportation, Docket Operations, M-30, West Building Ground Floor,
Room W12-140, 1200 New Jersey Avenue, SE., Washington, DC 20590;
telephone<PHONE_NUMBER>. You must identify FAA Docket No. FAA-2011-
0016; Airspace Docket No. 11-ANM-1, at the beginning of your comments.
You may also submit comments through the Internet at http://www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: Eldon Taylor, Federal Aviation
Administration, Operations Support Group, Western Service Center, 1601
Lind Avenue, SW., Renton, WA 98057; telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Comments Invited

    Interested parties are invited to participate in this proposed
rulemaking by submitting such written data, views, or arguments, as
they may desire. Comments that provide the factual basis supporting the
views and suggestions presented are particularly helpful in developing
reasoned regulatory decisions on the proposal. Comments are
specifically invited on the overall regulatory, aeronautical, economic,
environmental, and energy-related aspects of the proposal.

    Communications should identify both docket numbers (FAA Docket No.
FAA-2011-0016 and Airspace Docket No. 11-ANM-1) and be submitted in
triplicate to the Docket Management System (see ADDRESSES section for
address and phone number). You may also submit comments through the
Internet at http://www.regulations.gov.
    Commenters wishing the FAA to acknowledge receipt of their comments
on this action must submit with those comments a self-addressed stamped
postcard on which the following statement is made: ``Comments to FAA
Docket No. FAA-2011-0016 and Airspace Docket No. 11-ANM-1''. The
postcard will be date/time stamped and returned to the commenter.
    All communications received on or before the specified closing date
for comments will be considered before taking action on the proposed
rule. The proposal contained in this action may be changed in light of
comments received. All comments submitted will be available for
examination in the public docket both before and after the closing date
for comments. A report summarizing each substantive public contact with
FAA personnel concerned with this rulemaking will be filed in the
docket.

Availability of NPRMs

    An electronic copy of this document may be downloaded through the
Internet at http://www.regulations.gov. Recently published rulemaking
documents can also be accessed through the FAA's Web page at http://www.faa.gov/airports_airtraffic/air_traffic/publications/airspace_amendments/.
    You may review the public docket containing the proposal, any
comments received, and any final disposition in person in the Dockets
Office (see the ADDRESSES section for the address and phone number)
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. An informal docket may also be examined during normal
business hours at the Northwest Mountain Regional Office of the Federal
Aviation Administration, Air Traffic Organization, Western Service
Center, Operations Support Group, 1601 Lind Avenue, SW., Renton, WA
98057.
    Persons interested in being placed on a mailing list for future
NPRMs should contact the FAA's Office of Rulemaking,<PHONE_NUMBER>,
for a copy of Advisory Circular No. 11-2A, Notice of Proposed
Rulemaking Distribution System, which describes the application
procedure.

The Proposal

    The FAA is proposing an amendment to Title 14 Code of Federal
Regulations (14 CFR) part 71 by modifying Class E airspace extending
upward from 700 feet above the surface at Poplar Municipal Airport,
Poplar, MT. The airport has been moved 1.5 NM northeast of the original
airport site. Controlled airspace is necessary to accommodate aircraft
using the new RNAV (GPS) standard instrument approach procedures at
Poplar Municipal Airport. This action would enhance the safety and
management of aircraft operations at the Airport. This will also
correct the name from Poplar Airport.
    Class E airspace designations are published in paragraph 6005 of
FAA Order 7400.9U, dated August 18, 2010, and effective September 15,
2010, which is incorporated by reference in 14 CFR 71.1. The Class E
airspace designation listed in this document will be published
subsequently in this Order.
    The FAA has determined this proposed regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current.
Therefore, this proposed regulation: (1) Is not a ``significant
regulatory action'' under Executive Order 12866; (2) is not a
``significant rule'' under DOT Regulatory Policies and Procedures (44
FR 11034; February 26, 1979); and (3) does not warrant preparation of a
regulatory evaluation as the anticipated impact is so minimal. Since
this is a routine matter that will only affect air traffic procedures
and air navigation, it is certified this proposed rule, when
promulgated, would not have a significant economic impact on a
substantial number of small entities under the criteria of the
Regulatory Flexibility Act.
    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the U.S. Code. Subtitle 1, section 106, describes
the authority for the FAA Administrator. Subtitle VII, Aviation
Programs, describes in more detail the scope of the agency's authority.
This rulemaking is promulgated under the authority described in
subtitle VII, part A, subpart I, section 40103. Under that section, the
FAA is charged with prescribing regulations to assign the use of the
airspace necessary to ensure the safety of aircraft and the efficient
use of airspace. This regulation is within the scope of that authority
as it establishes additional controlled airspace at Poplar Municipal
Airport, Poplar, MT.

List of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

The Proposed Amendment

    Accordingly, pursuant to the authority delegated to me, the Federal
Aviation Administration proposes to amend 14 CFR part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

    1. The authority citation for 14 CFR part 71 continues to read as
follows:

    Authority: 49 U.S.C. 106(g), 40103, 40113, 40120; E.O. 10854, 24
FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1  [Amended]

    2. The incorporation by reference in 14 CFR 71.1 of the Federal
Aviation Administration Order 7400.9U, Airspace Designations and
Reporting Points, dated August 18, 2010, and effective September 15,
2010 is amended as follows:

Paragraph 6005 Class E airspace areas extending upward from 700
feet or more above the surface of the earth.

* * * * *

ANM MT E5 Poplar, MT [Modify]

Poplar Municipal Airport, MT
    (Lat. 48[deg]08'04'' N., long. 105[deg]09'44'' W.)

    That airspace extending upward from 700 feet above the surface
within a 7.7-mile radius of the Poplar Municipal Airport, MT, and
within 4 miles each side of the 105[deg] bearing extending from the
airport to 10.3 miles southeast of the airport; and that airspace
extending upward from 1,200 feet above the surface bounded by a line
from lat. 47[deg]53'25'' N., long. 105[deg]52'50'' W.; to lat.
48[deg]18'00'' N., long. 105[deg]52'50'' W.; to lat. 48[deg]18'00''
N., long. 104[deg]30'00'' W.; to lat. 47[deg]53'25'' N., long.
104[deg]30'00'' W.; to the beginning; excluding that airspace within
Federal airways and the Wolf Point, MT, Class E airspace area.

    Issued in Seattle, Washington, on February 8, 2011.
Christine Mellon,
Acting Manager, Operations Support Group, Western Service Center.
[FR Doc. 2011-3413 Filed 2-15-11; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 84, Number 29 (Tuesday, February 12, 2019)]
[Notices]
[Pages 3426-3427]
[FR Doc No: 2019-02085]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 14791-001]

Ochoco Irrigation District; Notice of Intent To File License
Application, Filing of Pre-Application Document, Approving Use of the
Traditional Licensing Process

    a. Type of Filing: Notice of Intent to File License Application and
Request to Use the Traditional Licensing Process.
    b. Project No.: 14791-001.
    c. Date Filed: October 29, 2018.
    d. Submitted By: Ochoco Irrigation District.
    e. Name of Project: Bowman Dam Hydroelectric Project.
    f. Location: At the existing Arthur R. Bowman Dam On the Crooked
River, in Crook County, Oregon. The project would occupy 5 acres of
federal lands administered by the U.S. Bureau of Reclamation.
    g. Filed Pursuant to: 18 CFR 5.3 of the Commission's regulations.
    h. Potential Applicant Contact: Bruce Scanlon, Manager, Ochoco
Irrigation District, 1001 NW Deer Street, Prineville, OR 97754; (541)
447-6449; email at<EMAIL_ADDRESS>    i. FERC Contact: Matt Cutlip at<PHONE_NUMBER>; or email at
<EMAIL_ADDRESS>    j. Ochoco Irrigation District filed its request to use the
Traditional Licensing Process on October 29, 2018. Ochoco Irrigation
Distrct provided public notice of its request on December 21, 2018. In
a letter dated February 5, 2019, the Director of the Division of
Hydropower Licensing approved Ochoco Irrigation District's request to
use the Traditional Licensing Process.
    k. With this notice, we are initiating informal consultation with
the U.S. Fish and Wildlife Service under section 7 of the Endangered
Species Act and the

joint agency regulations thereunder at 50 CFR part 402. We are also
initiating consultation with the Oregon State Historic Preservation
Officer, as required by section 106, National Historic Preservation
Act, and the implementing regulations of the Advisory Council on
Historic Preservation at 36 CFR 800.2.
    l. With this notice, we are designating Ochoco Irrigation District
as the Commission's non-federal representative for carrying out
informal consultation pursuant to section 7 of the Endangered Species
Act; and consultation pursuant to section 106 of the National Historic
Preservation Act.
    m. Ochoco Irrigation District filed a Pre-Application Document
(PAD; including a proposed process plan and schedule) with the
Commission, pursuant to 18 CFR 5.6 of the Commission's regulations.
    n. A copy of the PAD is available for review at the Commission in
the Public Reference Room or may be viewed on the Commission's website
(http://www.ferc.gov), using the ``eLibrary'' link. Enter the docket
number, excluding the last three digits in the docket number field to
access the document. For assistance, contact FERC Online Support at
<EMAIL_ADDRESS>(866) 208-3676 (toll free), or (202) 502-
8659 (TTY). A copy is also available for inspection and reproduction at
the address in paragraph h.
    o. Register online at http://www.ferc.gov/docs-filing/esubscription.asp to be notified via email of new filing and issuances
related to this or other pending projects. For assistance, contact FERC
Online Support.

    Dated: February 6, 2019.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2019-02085 Filed 2-11-19; 8:45 am]
 BILLING CODE 6717-01-P


UNITED STATES ENVIRONMENTAL PROTECTION AGENCY WASHINGTON, D. C. 20460 OFFICE OF PREVENTION, PESTICIDES AND TOXIC SUBSTANCES Memorandum DATE: March 22, 2004 SUBJECT: Assessment of registrant requests for exemptions to Re Entry Intervals ( REI) for propargite use in specific crops FROM: Nikhil Mallampalli, Entomologist Angel Chiri, Entomologist Colwell Cook, Entomologist Herbicide and Insecticide Branch Biological and Economic Analysis Division ( 7503C)

THROUGH: Arnet Jones, Chief Herbicide and Insecticide Branch Biological and Economic Analysis Division ( 7503C)

TO: Dayton Eckerson, Chemical Review Manager Robert McNally, Chief Special Review Branch ( 7508C)

Almonds Propargite Use Although there are several potentially damaging mites on almonds, only three species of spider mites may need to be treated with pesticides. Propargite is one of several chemicals listed as being used for mite control in the 2002 Pest Management Strategic Plan for Almonds. The alternative miticides are: abamectin, clofentezine, fenbutatinoxide hexythiazox and narrow range oils. Propargite is applied post bloom by ground to 27 % of the acres, at the rate of 1.5 lb. a. i. per acre ( USDA, 1999).

Issue: Hand weeding Weed control is accomplished entirely through pre and post emergence herbicide applications and mechanical mowing. There is no mention of hand weeding in any of the sources consulted. However, in the unlikely event that hand weeding is planned for a small orchard, this activity could be readily planned around a scheduled propargite application.

References Almond Board of California and California Pest Management Center. 2003. The Foundation for a Pest Manage ment Strategic Plan in Almond Producti on. Availabl e on the Web at: http:// pe stdata. n csu. edu/ pmsp/ pd f/ caalmo nds. pdf Mosz, N. 2002. Almond Timeline. U. S. Environmental Protection Agency, Office of Pesticide Programs, Biological and Economic Analysis Division. Available on the Web at: http:// pestdata. nc su. edu/ croptimeli nes/ pdf/ CAalmon d. pdf USDA. 1999. Crop Profile for Almonds in California. Available on the Web at: http:// pestdata. ncsu. edu/ cropprofiles/ docs/ caalmonds. html Beans, Dry Propargite Use Spider mites are occasional pests of dry beans, and have the potential to cause significant damage. For instance, although in most years spider mites cause little damage to beans in Idaho and Montana, in years of high infestations, spider mites can cause up to 80% yield loss in individual fields. In general, the earlier in crop development that an infestation starts, the more likely significant yield losses could occur. Among the 10 available USDA Crop Profiles for Dry Beans ( CO, ID, KS, MI, MN, MT, NE, NY, ND, and OR) consulted, six of them mention or discuss mite pests, but only one ( OR) mentions propargite use. Propargite is also one of the miticides recommended for use on dry beans in California ( Godfrey, 2004). Alternative chemicals recommended for spider mite control on dry beans include dicofol, esfenvalerate, and sulfur dust.

Issue: Hand weeding/ Thinning In general, weed control in beans begins with a pre plant tillage operation, followed by a pre plant incorporated or preemergence herbicide application. The herbicides provide 4 to 6 weeks of residual activity. Weeds emerging after that time are controlled by cultivation and/ or herbicide applications in between rows. Hand weeding does not appear to be a common practice in commercial bean production. However, in the event that hand weeding is required in isolated instances, increasing the REI for propargite from 7 to 9 days would likely be an inconvenience rather than a major impediment to bean production. Beans are generally precision seeded with specialized planters to obtain the desired uniform plant spacing and prevent the need for subsequent thinning. As for hand weeding, hand thinning does not seem to be a common practice in commercial bean production either. It is unlikely that a two day increase in the current propargite REI would impact the timing of any existing hand thinning operation to the extent that bean production is affected.

References Godfrey, L. D. 2004. Dry Bean Spider Mites. UC IPM Pest Management Guidelines: Dry Beans, UC ANR Publication 3446, UC Davis. Available on the Web at: http:// axp. ipm. ucdavis. edu/ PMG/ r52400111. html USDA. 1999 2003. Crop Profiles for Dry Beans. Available on the Web at: http:// pestdata. ncsu. edu/ cropprofiles/ cpsearch. cfm Carrots Grown for Seed Propargite Use Although spider mites are usually not a problem on carrots, falling in the sporadic or occasional pest category, at times they may be cause for concern. Sulfur dusts, insecticidal soaps, and oils are other mite suppressing materials that may be used on carrots. Outbreaks of spider mites usually occur in localized areas in a field, where spot treatments may be all that is necessary ( University of California, 2004). Control of insect pests and spider mites feeding on carrot foliage, however infrequently, is essential to assure seed production ( Simon, 1999).

Only 3 of the 13 available USDA Crop Profiles for Carrots ( CA, FL, GA, MI, MN, NJ, NY, OH, OR, TX, WA, WI and U. S.) mention mites as occasional ( TX) or sporadic ( NY and U. S.) pests. None mentions propargite as an alternative. According to the Crop Profile for Carrots in New York, there are no effective pesticides labeled for mite control in carrots in that State. However, a cursory internet search revealed 24( c) propargite registrations for carrots grown for seed in the states of Oregon, Washington, and Idaho.

Issue: Hand weeding/ Thinning Unlike carrots grown for the fresh market, which fully rely on herbicides for weed control ( Fennimore et al., 2000) and may often depend on precision seeding to reduce the need for labor intensive thinning, carrots grown for seed often require hand weeding and hand thinning ( Weber et al., 2004). However, it is highly unlikely that a 2 3 day REI would interfere with any required hand weeding or hand thinning practice in carrots grown for seed, especially since this represents a reduction from the current 7 day REI.

References Fennimore, S. A., S. J. Richard, and N. L. Flewelling. 2000. Crop Profile for Carrots in California. UC Davis, Department of Vegetable Crops. Available on the Web at: http:// pestdata. ncsu. edu/ cropprofiles/ docs/ cacarrots. html Michigan State University. 2002. Pest Management in the Future: A Strategic Plan for the Michigan Carrot Industry. Available on the Web at: http:// pestdata. nc su. edu/ pmsp/ pdf/ micarrots. pdf Simon, P. W. 1999. Carrot Seed Production, USDA, ARS, Department of Horticulture, University of Wisconsin. Available on the Web at: http:// www. hort. wisc. edu/ usdavcru/ simon/ seedprod. html University of California, Cooperative Extension. 2004. Spider Mites on Carrots. Available on the Web: http:// cekern. ucdavis. edu/ Custom_ Program573/ Spider_ Mites_ of_ Carrots. htm USDA Crop Profiles for Carrots. 1999 2003. Available on the Web at: http:// pestdata. ncsu. edu/ cropprofiles/ cpsearch. cfm Weber, C., C. Campbell, M. Butler, and B. Eleveld. 2004. Enterprise Budget: Carrot Seed Production Under Drip Irrigation, Central Oregon Region. Oregon State University, Extension Service. Available on the Web at: http:// eesc. orego nstate. edu/ agcom webfile/ EdMat/ e m8849. pdf Cherries Propargite Use Propargite is used to manage the Pacific spider mite and the twospotted spider mite in cherries after harvest. Propargite is one of several chemicals recommended in the UC Management Guidelines for these mites. The alternative miticides are: clofentezine, fenbutatin oxide, and oil.

The USDA Crop Profiles for cherries in New York, Virginia, Oregon, Washington, and Pennsylvania do not mention propargite.

Issues: Irrigation, Scouting, Hand weeding After harvest the cultural activities include: irrigating, mowing/ disking, pruning/ topping, pesticide applications, field scouting, fertilizing, vertebrate control, and tree removal. However, according to Rick Melnicoe ( personal communication March 12, 2004) few of these activities are done by hand. Irrigation is primarily sprinkler or flood. Mowing is usually done once to till. There is not much pruning or topping after harvest, only to take out dead branches. Scouting may occur once a week. Hand weeding is not listed as a post harvest activity in the Pest Management Strategic Plan for Cherry Production in California.

References:

Pest Management Strategic Plan for Cherry Production in California. 2003. Available on the Web at: http:// pestdata. ncsu. edu/ pmsp/ index. cfm.

UC IPM: UC Management Guidelines for Webspinning Spider Mites on Cherry. Available on the Web at: http:// www. ipm. ucdavis. edu/ PMG/ r105400211. html Melnicoe, Rick. Director. Western Pest Management Center, Davis, California. Personal communication to Colwell Cook, USEPA/ OPP/ BEAD, March 12, 2004.

Clover grown for seed Propargite Use Use targets two spotted and strawberry spider mites. Chemical control is only recommended early in the growing season, and only for heavy infestations ( Baird et al. 1993, Stein et al. 2003). Alternatives with good efficacy include hexythiazox, kelthane, and bifenthrin ( Baird et al. 1993, Stein et al. 2003). Both bifenthrin and hexythiazox have 12 hour REIs.

Issue: hand weeding/ thinning Thinning is not mentioned as a practice in the literature BEAD has been able to locate on this crop. Weeds are a potentially devastating type of pest, since even low levels of seed contamination can render the harvest unmarketable ( Taylor et al. 1996). However, as with the other crops, weed control appears to be typically done with herbicides, of which a variety are registered. While hand weeding is listed as an option for weed control in some production guides, it is presented as one of several " mechanical cultivation" strategies ( Taylor et al. 1996, Williams et al. 2002). At least one such guide states that weeds can be managed with mechanical cultivation performed every 10 to 14 days ( Williams et al. 2002). This suggests that virtually all growers can continue to use hand weeding in those ( probably rare) instances where they prefer it over the less labor intensive practices of mechanical disking or herbicide application  even after propargite application. Furthermore, growers have the option of using bifenthrin or hexythiazox instead of propargite if they know they need to have a short REI to control weeds concomitantly. In light of these management options, BEAD believes that while hand weeding does occur ( to an unknown extent) in clover seed production, an exception to the propargite REI for this activity is not necessary.

References Baird, C. R., H. W. Homan, and D. G. Bolz. 1993. Insect Control Recommendations for Producing Clover Seed in Idaho. Pub. # CIS 772 of the Cooperative Extension Service of the University of Idaho, Moscow, ID.

Stein, D., D. McGrath, and S. Aldrich Markham. 2003. Clover Seed Pests. Part of the Pacific North West Insect Management Handbook. Available on the Web at: http:// insects. ippc. orst. edu/ pnw/ insects? 13LEGU03. dat.

Taylor, N. L., D. M. TeKrony, and J. Henning. 1996. Producing Red Clover Seed in Kentucky. Pub. AGR 2 of the Cooperative Extension Service of the University of Kentucky, Lexington, KY.

Williams, R. D., D. Ball, T. L. Miller, R. Parker, J. P. Yenish, T. W. Miller, D. W. Morishita, and P. J. S. Hutchinson. 2002. Pacific North West Weed Management Handbook. Available on the Web at: http:// weeds. ippc. orst. edu/ pnw/ weeds? authorscontributors. html.

Corn ( Field, Sweet, Pop)

Propargite Use Propargite is one of a few chemical control options growers have to manage various mite species that can sporadically become pests in these crops. Perhaps most important of these pests are the two spotted spider mite, found on a wide variety of plants, and the Banks grass mite, an arthropod specializing on grassy plants. Mites are not considered pests of corn grown east of the Rockies ( USDA 2003a, b). Effective alternatives to propargite available on corn include bifenthrin and dimethoate. Both have short REIs ( 24 48hr), though this may change for dimethoate as it is undergoing the RED process.

Issue: hand weeding Hand weeding is impractical in the large commercial fields that produce most of the corn in the USA, and thus virtually never occurs ( Brassard, personal communication). Weeds are managed with herbicides, of which a variety are registered for use in all corn types ( USDA 2003a, b, c), or disking and mowing at appropriate times in the year. BEAD does not believe an exception is necessary for this activity.

Issue: scouting and irrigation Scouting probably occurs once per week in virtually all corn crops ( Brassard, personal communication); certified scouts are exempt from REI restrictions as per WPS guidelines. Irrigation is accomplished with either furrow or mechanized mobile booms ( USDA 2003a, b, c, Brassard, personal communication). Thus, for irrigation, only repair activities would require quick field re entry, and this is exempt to the extent that WPS guidelines allow. Note that for all activities that an exception has been requested, effective alternatives to propargite exist for corn, and these alternatives currently retain short REIs ( see above).

References Brassard, D. Senior Entomologist, USEPA/ OPP/ BEAD. Personal communication to Nikhil Mallampalli, USEPA/ OPP/ BEAD.

USDA. 2003a. Crop Profile for Sweet Corn in the North Central United States. Available on the Web at: http:// cipm. ncsu. edu/ cropprofiles/.

USDA. 2003b. Crop Profile for Field Corn in Colorado. Available on the Web at: http:// cipm. ncsu. edu/ cropprofiles/.

USDA. 2003c. Crop Profile for Corn ( Pop) in the United States ( North Central Region). Available on the Web at: http:// cipm. ncsu. edu/ cropprofiles/.

Grapefruit Propargite Use In California, only about 1 % of the citrus acreage has been treated with propargite in recent years ( USDA 2001a). The vast majority of this acreage is planted to non grapefruit citrus ( USDA 2001a). The targeted pest is the citrus red mite. Alternatives also in use against this pest include dicofol, oxythioquinox, narrow range oil, avermectin, and pyridaben. Of these, pyridaben and oil are the most commonly used and are at least as efficacious as propargite ( USDA 2001a, Grafton Cardwell, personal communication).

In Florida, propargite use targets citrus rust mites and spider mites, of which the rust mite is considered the more consistently serious pest ( USDA 2001b). Pyridaben, ethion, fenbutatin oxide, avermectin, narrow range oil, and sulfur have all been used as effective alternatives against these pests ( USDA 2001b, Childers et al. 2004).

Issue: Scouting The University of Florida extension service recommends that mites be monitored every 10 14 days ( if fruit are intended for the fresh market) or every 2 3 weeks if processed fruit are being produced ( Childers et al. 2004). Detailed sampling methods have been developed ( Childers et al. 2004), and do not appear to require more than a day at a time to perform. Thus, BEAD believes that scouting can be carried out with the proposed REI ( 36 days). Indeed, growers have been operating with a 28 day REI already. Further, as with all other crops, WPS guidelines also allow for certified scouts to be exempt from REI restrictions.

Issue: Hand weeding This practice appears to be virtually nonexistent in conventional commercial U. S. citrus production systems. Weeding is typically carried out using pre emergent herbicides, disking, and mowing row middles, and growing leguminous cover crops, depending largely on the growing region ( USDA 2001a, 2001b). BEAD does not believe an exemption for hand weeding is necessary.

Issue: Irrigation This is achieved using either fixed microsprinkler systems, drip lines, or flood/ furrow irrigation systems ( USDA 2001a, 2001b). Quick re entry into propargite treated fields should only be necessary for emergency repairs, which is allowed under current WPS guidelines. Therefore, BEAD does not believe there is a critical need for a 1 day exception to the proposed REI.

References Childers, C. C., C. W. McCoy, H. N. Nigg, and P. A. Stansley. 2004. Florida Citrus Pest Management Guide: Rust Mites, Spider Mites, and Other Phytophagous Mites. Pub. # ENY 603 of the University of Florida Extension Service. Available on the Web at http:// edis. ifas. ufl. edu.

Grafton Cardwell, E. IPM entomologist, University of California at Riverside. Personal communication to Nikhil Mallampalli, USEPA/ OPP/ BEAD.

USDA. 2001a. Crop Profile for Citrus in California. Available on the Web at http:// cipm. ncsu. edu/ cropprofiles/

USDA. 2001b. Crop Profile for Citrus ( Major)/ Grapefruit in Florida. Available on the Web at http:// cipm. ncsu. edu/ cropprofiles/

Hops Propargite Use Use targets mainly two spotted spider mites, as well as other mites species that are less consistently pests of this crop ( USDA 1999, 2001). While mites can be devastating pests of this crop, a range of alternative chemical control options exist. Those with efficacy comparable to or better than that of propargite are: hexythiazox, avermectin, dicofol, and bifenazate. Fenpyroximate was also available in the major hops producing states, Idaho and Washington, under a Section 18 exemption, until 2003. It is not clear whether this exemption has been renewed for 2004. Of these, hexythiazox is an ovicide that is very effective if timed properly ( USDA 2001), and bifenazate and fenpyroximate are mite specific chemicals that also have good efficacy and relatively short REIs ( 12 hours), thus providing an option for those rare growers who cannot adapt to the new REIs for propargite.

Issue: hand weeding This activity is probably never practiced in commercial hops production. While weeds can be a significant pest problem, mechanical cultivation of row middles is the typical control strategy ( USDA 2001b). Mulch is also applied to suppress weed germination. Therefore, BEAD believes that an exemption for hand weeding is unnecessary for this crop. Various herbicides are also available for efficacious chemical control of weeds ( USDA 1999, 2001).

References USDA. 1999. Crop Profile for Hops in Oregon. Available on the Web at: http:// cipm. ncsu. edu/ cropprofiles/.

USDA. 2001. Crop Profile for Hops in Washington. Available on the Web at: http:// cipm. ncsu. edu/ cropprofiles/.

Walnuts Propargite Use Propargite is one of several miticides that are applied post bloom to walnuts, primarily to control the two spotted and Pacific mites ( USDA, 1998). These two spider mites can cause almost complete defoliation, exposing trees and nuts to sunburn and reducing nut size. In well managed orchards, arthropod predators keep populations levels of other mite species below damaging levels most of the time. Mite populations that exceed recommended economic threshold levels are controlled with a single post bloom chemical application. Mites can become a problem from June through August ( University of California, 2004). Available miticides include narrow range oil, propargite, fenbutatin oxide, abamectin, dicofol, or chofentezine ( USDA, 1998, University of California, 2004).

Issue: Pruning Pruning takes place in the dormant season ( Mosz, 2002) and should not interfere with the post bloom propargite applications needed to control spider mites during June through August.

Issue: Tree Shaking Walnut harvesting operations occur daily from early August through mid October and are largely automated. First, the orchard floor is rolled or dragged clean of twigs, rocks and other orchard debris. Next, trees are shaken to dislodge the walnuts. This operation is accomplished by means of self propelled mechanical shakers outfitted with a long boom that clasps and shakes the tree or large branches, causing the walnuts to drop to the ground. The shaker operator is protected inside a cab which, in newer models, is closed, air conditioned, and air filtered. The dislodged nuts are then swept into rows by a mechanical sweeper to allow mechanical harvesters to pick them up for cleaning and hulling. The mechanical sweepers and harvesters lack enclosed cabs. Workers may enter the orchard at this time to remove sticks from the nut piles to make pick up easier ( Mosz, 2002, California Walnuts, undated).

Since propargite may be applied to walnuts during June through August, and harvesting operations begin in early August, a 30 REI would mean that the last propargite application would have to be made in early July to allow for harvest related worker activities.

Issue: Hand weeding Weeds are typically controlled with applications of pre emergence and post emergence herbicides, or a combination of the two ( USDA, 1998). However, hand hoeing of weeds may also occur in young orchards as needed ( Mosz, 2002). In such cases, a 30 day REI for propargite has the potential to interfere with this practice.

References California Walnuts. undated. Available on the Web at: http:// www. walnuts. org/ walnuts/ wnt_ growing. shtml Mosz, N. 2002. Walnut Timeline. U. S. Environmental Protection Agency, Office of Pesticide Programs, Biological and Economic Analysis Division. Available on the Web at: http:// pestdata. nc su. edu/ cropTimel ines/ pdf/ CAwaln ut. pdf University of California. 2004. UC IPM Pest Management Guidelines: Integrated Pest Management for Walnuts. Available on the Web at: http:// www. ipm. ucdavis. edu/ PMG/ r881400111. html# WHEN USDA. 1998. Crop Profile for Walnuts in California. Available on the Web at: http:// pestdata. ncsu. edu/ cropprofiles/ docs/ cawalnuts. html


[Federal Register Volume 78, Number 67 (Monday, April 8, 2013)]
[Notices]
[Pages 20981-20983]
[FR Doc No: 2013-08090]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69269; File No. SR-Phlx-2013-37]

Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Extend
Its FLEX Option No Minimum Value Size Pilot Program to March 28, 2014

April 2, 2013.
    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 March 27, 2013, NASDAQ OMX PHLX LLC (``Phlx'' 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 is filing with the Commission a proposal to amend Phlx
Rule 1079 (FLEX Index, Equity and Currency Options) to extend a pilot
program that eliminates minimum value sizes for FLEX index options and
FLEX equity options (together known as ``FLEX Options'').\3\
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    \3\ In addition to FLEX Options, FLEX currency options are also
traded on the Exchange. These flexible index, equity, and currency
options provide investors the ability to customize basic option
features including size, expiration date, exercise style, and
certain exercise prices; and may have expiration dates within five
years. See Rule 1079. FLEX currency options traded on the Exchange
are also known as FLEX World Currency Options (``WCO'') or Foreign
Currency Options (``FCO''). The pilot program discussed herein does
not encompass FLEX currency options.
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    The text of the amended Exchange rule is set forth immediately
below.
    Additions are italicized and deletions are [bracketed].
* * * * *

Rule 1079. FLEX Index, Equity and Currency Options

    A Requesting Member shall obtain quotes and execute trades in
certain non-listed FLEX options at the specialist post of the non-FLEX
option on the Exchange. The term ``FLEX option'' means a FLEX option
contract that is traded subject to this Rule. Although FLEX options are
generally subject to the rules in this section, to the extent that the
provisions of this Rule are inconsistent with other applicable Exchange
rules, this Rule takes precedence with respect to FLEX options.

    (a)-(f) No Change.

* * * Commentary:

    .01 Notwithstanding subparagraphs (a)(8)(A)(i) and (a)(8)(A)(ii)
above, for a pilot period ending March [29]28, [2013]2014, there shall
be no minimum value size requirements for FLEX options.
* * * * *
    The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaqomxphlx.cchwallstreet.com/NASDAQOMXPHLX/Filings/, 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 this proposed rule change is to amend Phlx Rule 1079
(FLEX Index, Equity and Currency Options) to extend a pilot program
that eliminates minimum value sizes for FLEX Options (the ``Pilot
Program'' or ``Pilot'').
    Rule 1079 deals with the process of listing and trading FLEX
equity, index, and currency options on the Exchange. Rule 1079(a)(8)(A)
currently sets the minimum opening transaction value size in the case
of a FLEX Option in a newly established (opening) series if there is no
open interest in the particular series when a Request-for-Quote
(``RFQ'') is submitted (except as provided in Commentary .01 to Rule
1079): (i) $10 million underlying equivalent value, respecting FLEX
market index options, and $5 million underlying equivalent value
respecting FLEX industry index options; \4\ (ii) the lesser of 250
contracts or the number of contracts overlying $1 million in the
underlying securities, with respect to FLEX equity options (together
the ``minimum value size'').\5\
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    \4\ Market index options and industry index options are broad-
based index options and narrow-based index options, respectively.
See Rule 1000A(b)(11) and (12).
    \5\ Subsection (a)(8)(A) also provides a third alternative:
(iii) 50 contracts in the case of FLEX currency options. However,
this alternative is not part of the Pilot Program.
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    Presently, Commentary .01 to Rule 1079 states that by virtue of the
Pilot Program ending March 29, 2013, there shall be no minimum value
size requirements for FLEX Options as noted in subsections (a)(8)(A)(i)
and (a)(8)(A)(ii) above.\6\
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    \6\ See Securities Exchange Act Release No. 67094 (June 1,
2012), 77 FR 33796 (June 7, 2012)(SR-Phlx-2012-76)(notice of filing
and immediate effectiveness of proposal to extend Pilot Program).
The Pilot Program was instituted in 2010. See Securities Exchange
Act Release No. 62900 (September 13, 2010), 75 FR 57098 (September
17, 2010)(SR-Phlx-2010-123)(notice of filing and immediate
effectiveness of proposal to institute Pilot Program).
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    The Exchange now proposes to extend the Pilot Program for a period
ending March 28, 2014.\7\
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    \7\ The Exchange notes that any positions established under this
Pilot would not be impacted by the expiration of the Pilot. For
example, a 10-contract FLEX equity option opening position that
overlies less than $1 million in the underlying security and expires
in January 2015 could be established during the Pilot. If the Pilot
Program were not extended, the position would continue to exist and
any further trading in the series would be subject to the minimum
value size requirements for continued trading in that series.
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    The Exchange believes that there is sufficient investor interest
and demand in the Pilot Program to warrant an extension. The Exchange
believes that the Pilot Program has provided investors with additional
means of managing their risk exposures and carrying out their
investment objectives. Extension of the Pilot Program would continue to
provide greater opportunities for traders and investors to manage risk
through the use of FLEX Options, including investors that may otherwise
trade in the unregulated over the counter (``OTC'') market where
similar size restrictions do not apply.\8\
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    \8\ The Exchange has not experienced any adverse market effects
with respect to the Pilot Program.
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    In support of the proposed extension of the Pilot Program, the
Exchange has under separate cover submitted to the Commission a Pilot
Program Report (``Report'') that provides an analysis of the Pilot
Program covering the period during which the Pilot has been in effect.
This Report includes: (i) Data and analysis on the open interest and
trading volume in (a) FLEX equity options that have an opening
transaction with a minimum size of 0 to 249 contracts and less than $1
million in underlying value; (b) FLEX index options that have an
opening transaction with a minimum opening size of less than $10
million in underlying equivalent value; and (ii) analysis of the types
of investors that initiated opening FLEX Options transactions (i.e.,
institutional, high net worth, or retail). The Report has been
submitted to the Commission on a confidential basis.
    If, in the future, the Exchange proposes an additional extension of
the Pilot Program, or should the Exchange propose to make the Pilot
Program permanent, the Exchange will submit a Report covering the
period March 1, 2013, through January 31, 2014, and including the
details referenced in the prior paragraph. The Exchange will also
provide the nominal dollar value of each trade. The Report would be
submitted to the Commission on or before February 28, 2014, unless the
Commission agrees otherwise, and would be provided on a confidential
basis.
2. Statutory Basis
    The Exchange's proposal is consistent with Section 6(b) of the Act
\9\ in general, and furthers the objectives of Section 6(b)(5) of the
Act \10\ in particular, in that it is designed to prevent fraudulent
and manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, and to
remove impediments to and perfect the mechanisms of a free and open
market and a national market system. Specifically, the Exchange
believes that the proposed extension of the Pilot Program, which
eliminates the minimum value size applicable to FLEX Options, would
provide greater opportunities for investors to manage risk through the
use of FLEX Options. The Exchange notes that it has not experienced any
adverse market effects with respect to the Pilot Program.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. To the contrary, the proposal
would give traders and investors the opportunity to more effectively
tailor their trading, investing and hedging through FLEX options traded
on the Exchange.

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

    Because the proposed rule change does not: (i) Significantly affect
the protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act \11\ and Rule 19b-
4(f)(6) thereunder.\12\
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    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.

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    A proposed rule change filed under Rule 19b-4(f)(6) \13\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\14\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the Exchange
may seamlessly continue its Pilot Program. The Commission notes that
waiving the 30-day operative delay would allow the Pilot Program to
continue without interruption, and believes that waiving the 30-day
operative delay is consistent with the protection of investors and the
public interest.\15\ Therefore, the Commission hereby waives the 30-day
operative delay and designates the proposal operative upon filing.
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    \13\ 17 CFR 240.19b-4(f)(6).
    \14\ 17 CFR 240.19b-4(f)(6)(iii).
    \15\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-Phlx-2013-37 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-Phlx-2013-37. 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-Phlx-2013-37 and should be
submitted on or before April 29, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
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    \16\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-08090 Filed 4-5-13; 8:45 am]
BILLING CODE 8011-01-P