[Federal Register Volume 85, Number 247 (Wednesday, December 23, 2020)]
[Notices]
[Pages 84065-84069]
[FR Doc No: 2020-28318]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90713; File No. SR-CboeEDGX-2020-063]

Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To
Amend EDGX Rule 11.8(g), Which Describes the Handling of MidPoint
Discretionary Orders Entered on the Exchange

December 17, 2020.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on December 15, 2020, Cboe EDGX Exchange, Inc. (the ``Exchange''
or ``EDGX'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. The
Exchange filed the proposal as a ``non-controversial'' proposed rule
change pursuant to Section

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

    Cboe EDGX Exchange, Inc. (``EDGX'' or the ``Exchange'') is filing
with the Securities and Exchange Commission (the ``Commission'') a
proposed rule change to amend EDGX Rule 11.8(g), which describes the
handling of MidPoint Discretionary Orders entered on the Exchange.\5\
The text of the proposed rule change is provided in Exhibit 5.
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    \5\ 17 CFR 240.19b-4(f)(6)(iii).
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    The text of the proposed rule change is also available on the
Exchange's website (http://markets.cboe.com/us/options/regulation/rule_filings/edgx/), at the Exchange's Office of the Secretary, and at
the Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of the proposed rule change is to amend EDGX Rule
11.8(g) to allow Users that enter MidPoint Discretionary Orders
(``MDOs'') with a Quote Depletion Protection (``QDP'') instruction \6\
to also include an optional instruction to allow the MDO to remove
liquidity. An MDO is a Limit Order that when resting on the EDGX Book
is pegged to the NBB for an order to buy or the NBO for an order to
sell, with or without an offset, with discretion to execute at prices
to and including the midpoint of the NBBO.\7\ MDOs entered on the
Exchange today are designed to only act as the provider of liquidity,
including when resting on the EDGX Book and on entry.\8\ On June 4,
2020, the Exchange received approval to introduce a new QDP instruction
that Users can include on their MDOs to limit the order's ability to
exercise discretion in certain circumstances where applicable market
conditions indicate that it may be less desirable to execute within the
order's discretionary range.\9\ QDP is designed to enable market
participants to enter orders that may exercise discretion to trade at
more aggressive prices up to the midpoint of the NBBO, while providing
additional protection to those orders at times where the market for the
security may be about to transition to a worse price from the
perspective of the MDO. As proposed, Users that enter an MDO with a QDP
instruction would be permitted to include an optional instruction to
allow the MDO to remove liquidity, thereby facilitating the ability of
such orders to aggressively seek an execution on entry and when posted
to the EDGX Book.
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    \6\ QDP is an optional instruction that a User may include on an
MDO to limit the order's ability to exercise discretion in certain
circumstances. See EDGX Rule 11.9(g)(10).
    \7\ See EDGX Rule 11.8(g).
    \8\ Id.
    \9\ See Securities Exchange Act Release No. 89007 (June 4,
2020), 85 FR 35454 (June 10, 2020) (SR-CboeEDGX-2020-010).
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    Currently, an MDO entered on the Exchange will only act as a
liquidity provider once resting on the EDGX Book, and will only execute
on entry in limited circumstances where the resting order includes a
Super Aggressive or Non-Displayed Swap (``NDS'') instruction that
allows for a liquidity swap with the incoming MDO.\10\ As a result,
MDOs entered on the Exchange will only act as liquidity provider--i.e.,
either as the resting order, or by liquidity swapping with a resting
order that is willing to assume the role of the liquidity remover in
exchange for obtaining an execution.\11\ By contrast, MDOs entered on
the Exchange's affiliate, Cboe EDGA Exchange, Inc. (``EDGA''), are
allowed to remove liquidity.\12\ Although the Exchange believes that
certain Users will continue to prefer to act solely as a liquidity
provider, additional flexibility may be beneficial to market
participants, particularly those that have begun entering MDOs with the
recently-introduced QDP instruction. Indeed, the Exchange has received
feedback from Users that utilize the QDP instruction on their MDOs
indicating that they appreciate the protective features provided by
QDP, but that it would also be valuable to improve fill rates by
permitting such orders to remove liquidity. The Exchange is thus
proposing to amend its rules such that Users would have the flexibility
to allow such orders to remove liquidity. MDOs entered with both a QDP
instruction and an instruction to allow the order to remove liquidity
would be handled in the same manner as MDOs entered with a QDP
instruction on EDGA today, thereby providing a consistent and familiar
experience for market participants.
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    \10\ See EDGX Rule 11.8(g).
    \11\ The Exchange's Super Aggressive and NDS instructions allow
orders entered with those instructions to trade as the remover of
liquidity with orders that are designated to act solely as the
liquidity provider. See EDGX Rules 11.6(n)(2),(7).
    \12\ See EDGA Rule 11.8(e).
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    In addition, since the Exchange believes that Users utilizing the
MDO order type with a QDP instruction are more concerned with potential
adverse selection risks, and would generally prefer to be able to
secure an execution when possible at times that the QDP indicator does
not predict a potential adverse price change, i.e., regardless of
whether adding or removing liquidity, the Exchange proposes to make the
ability to remove liquidity the default instruction for such orders.
However, the Exchange would also retain the current functionality that
allows MDOs to be entered that will only act as the provider of
liquidity. This functionality would continue to apply to all MDOs
entered without a QDP instruction, as well as to MDOs entered with a
QDP instruction if the User affirmatively instructs the Exchange limit
the order to providing liquidity.\13\ Thus, Users that prefer to only
have their MDOs execute exclusively as the provider of liquidity would
be able to continue to do so in the same manner that they do today.
Introducing the ability for MDOs entered with a QDP instruction to
remove liquidity, while retaining current functionality, would
therefore provide additional flexibility to market participants without
impacting order handling for Users that prefer the current
functionality.
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    \13\ A User would be able to instruct the Exchange to limit the
order to providing liquidity either on an order-by-order basis, or
through the use of a port setting.
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    The Exchange also proposes also make certain conforming and non-
substantive changes to EDGX Rule 11.8(g). Specifically, to increase the
readability of the MDO rule, the Exchange proposes to move all rule
language associated with posting instructions to EDGX Rule 11.8(g)(5),
labelled ``routing/posting.'' Currently,

this subparagraph only references the fact that MDOs are not eligible
for routing to other national securities exchanges, and does not
reference order handling related to posting instructions--i.e., whether
and when an MDO is allowed to remove or add liquidity. As proposed,
EDGX Rule 11.8(g)(5) would incorporate language currently included in
the main section of the MDO rule that describes how such orders are
handled consistent with an instruction to only act as the liquidity
provider.
    First, the current rule provides that upon entry, an MDO will only
execute against resting orders that include a Super Aggressive
instruction priced at the MDO's pegged price if the MDO also contains a
Displayed instruction and against orders with an NDS instruction priced
at the MDO's pegged price or within its discretionary range. The
Exchange proposes to move this discussion to EDGX Rule 11.8(g)(5) along
with other language that addresses order handling related to routing
and posting. Given the proposed ability for such orders to remove
liquidity in certain circumstances, the Exchange has proposed to
preface this language in the rule with language that explains that it
only applies to MDOs that do not include instructions that permit the
removal of liquidity. Thus, as proposed, EDGX Rule 11.8(g)(5) would
provide that if the instructions included on an MDO do not permit the
order to remove liquidity, the MDO will only execute on entry against
resting orders that include a Super Aggressive instruction priced at
the MDO's pegged price if the MDO also contains a Displayed
instruction, and against orders with an NDS instruction priced at the
MDO's pegged price or within its discretionary range. As discussed,
this functionality is the same as currently applied to MDOs entered on
the Exchange.
    Second, the current rule provides that should a resting contra-side
order within the MDO's discretionary range not include an NDS
instruction, the incoming MDO will be placed on the EDGX Book and its
discretionary range shortened to equal the limit price of the contra-
side resting order. Similar to the above, the Exchange proposes to move
this discussion to EDGX Rule 11.8(g)(5), and would make minor non-
substantive changes to the language to account for the ability of
certain MDOs to remove liquidity under the proposal. Thus, as proposed,
EDGX Rule 11.8(g)(5) would provide that if a resting contra-side order
that does not include an NDS instruction is priced within the
discretionary range of an incoming MDO that is not permitted to remove
liquidity, the incoming MDO will be placed on the EDGX Book and its
discretionary range will be shortened to equal the limit price of the
resting contra-side order. This language relates specifically to
incoming MDOs that do not remove liquidity and are therefore not able
to trade on entry with certain orders that are unwilling to perform a
liquidity swap. The proposed edits to the language would therefore make
clear that this handling does not apply in circumstances where an MDO
is entered with instructions that permit liquidity removal.
    Third, the current rule provides that where an incoming order with
a Post Only instruction does not remove liquidity on entry pursuant to
Rule 11.6(n)(4) against a resting MDO, the discretionary range of the
resting MDO will be shortened to equal the limit price of the incoming
contra-side order with a Post Only instruction. The Exchange also
proposes to move this language to Rule 11.8(g)(5) as it relates to
relates generally to posting instructions. However, since this handling
does not depend on whether the MDO is only allowed to add liquidity, or
can both add or remove liquidity, the Exchange is not proposing to edit
this language when moving it to this subsection of the MDO rule.
    Finally, in addition to the proposed changes described above, the
Exchange also proposes to amend EDGX Rule 11.8(g)(2) to allow MDOs to
be entered for an odd lot size. Currently, EDGX Rule 11.8(g)(2)
specifies that MDOs may be entered as a round lot or mixed lot only,
and the Exchange does not permit Users odd lots to be entered using the
MDO order type. By contrast, the Exchange's affiliate, EDGA, does not
have a similar restriction, and MDOs entered on that exchange may
therefore be entered for an odd lot size.\14\ The Exchange is proposing
to similarly permit odd lot MDOs to be entered on the EDGX Book, which
would allow market participants trading on the Exchange to similarly
utilize MDOs for smaller order sizes.
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    \14\ See EDGA Rule 11.8(e)(2).
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2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\15\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\16\ in particular, in that it is designed to
promote just and equitable principles of trade, to remove impediments
to and perfect the mechanism of a free and open market and a national
market system, and, in general to protect investors and the public
interest. Specifically, the Exchange believes that the proposed rule
change is consistent with the protection of investors and the public
interest as it would enable Users that enter MDOs with a QDP
instruction to optionally remove liquidity, similar to the current
handling on its affiliate, EDGA, which allows such orders to remove
liquidity today. In addition, the proposed rule change would allow
Users to enter MDOs for an odd lot quantity, which is similarly
consistent with the operation of MDOs entered on EDGA.
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    \15\ 15 U.S.C. 78f(b).
    \16\ 15 U.S.C. 78f(b)(5).
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    Although MDOs are currently designed to only act as the provider of
liquidity, the Exchange believes that Users that enter MDOs with a QDP
instruction may benefit from the ability to trade more aggressively as
the remover of liquidity. The Exchange is therefore proposing to allow
MDOs entered with a QDP instruction to remove liquidity, by default,
while allowing Users to alternatively select to have such orders
limited to providing liquidity. MDOs that are not entered with a QDP
instruction, and MDOs entered with a QDP instruction where the User
chooses to opt out of the ability to remove liquidity, would be handled
in the same manner as they are today, thereby allowing Users to
properly reflect their trading intent with their choice of instruction.
As discussed, MDOs entered on the Exchange currently only act as the
provider of liquidity, both on entry and upon posting to the EDGX Book.
By contrast, the Exchange's affiliate, EDGA, allows such orders to both
provide and remove liquidity. The Exchange believes that allowing MDOs
entered with a QDP instruction to optionally act as liquidity remover,
similar to the current handling on its affiliate, EDGA, would remove
impediments to and perfect the mechanism of a free and open market and
a national market system.
    With the recent introduction of the QDP instruction, the Exchange
has decided to revisit whether these orders should be allowed to remove
liquidity, and has determined that such handling would be generally
beneficial to market participants trading on the Exchange as it would
increase the probability of such orders obtaining an execution. This
change is consistent with customer feedback as some Users have
indicated that they would prefer the ability to remove liquidity in
order to boost fill rates for MDOs entered with a QDP instruction. At
the same time, the Exchange understands that certain market
participants may wish to continue to have these orders act solely

as a liquidity provider. The proposed rule change would therefore give
Users the flexibility to determine whether an MDO entered with a QDP
instruction should act solely as a liquidity provider, i.e., the
current functionality, or whether such orders should instead be allowed
to also remove liquidity. The Exchange believes that this change will
benefit market participants by offering functionality similar to that
currently offered by its affiliate, while providing additional
flexibility with respect to how MDOs are handled by the Exchange.
    In addition, the Exchange believes that the proposed non-
substantive changes to its MDO rule are consistent with just and
equitable principles of trade as these changes are designed to increase
transparency around the operation of the Exchange. As proposed, the
Exchange would move certain language included in the MDO rule to the
subsection of the rule that addressees routing and posting. The
proposed language to be included in that subsection is substantively
the same as the language currently included in the main text of the MDO
rule, with a handful of minor changes to reflect the fact that certain
MDOs may be permitted to remove liquidity based on User instructions.
The Exchange believes that consolidating all of this language in the
subsection on routing and posting would increase the readability of the
rule, and the proposed edits to the language included in that
subsection are merely designed to highlight where the language is
applicable specifically to MDOs entered with instructions that require
that the order act as the provider of liquidity. These changes are
being proposed to ensure that the language remains accurate in light of
the changes to allow certain MDOs to remove liquidity. As such, the
Exchange believes that those edits would increase transparency around
the operation of the MDO order type in light of the other proposed
changes addressed in this filing.
    Finally, the Exchange believes that allowing MDOs to be entered for
an odd lot quantity would promote just and equitable principles of
trade. As discussed, the Exchange's affiliate, EDGA, similarly allows
such orders to be entered for an odd lot size, and the Exchange
believes that market participants that trade on the EDGX Book should
similarly be able to enter odd lot MDOs. While the Exchange initially
restricted MDOs to either round lots or mixed lots, the Exchange now
believes that this limitation unnecessarily limits the availability of
the MDO order type for market participants that are interested in
trading smaller sized orders. Expanding MDOs to odd lot orders would
therefore increase the ability for market participants to trade using
this order type, including potentially benefiting Users of the recently
introduced QDP instruction.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. The proposed changes would
allow MDOs entered with a QDP instruction on EDGX to remove liquidity,
which would increase flexibility offered by such orders. Although these
orders do not remove liquidity today, the Exchange's affiliate, EDGA,
already permits such orders to do so. Thus, the proposed rule change
would allow market participants that trade on EDGX to utilize similar
functionality to those that trade on its affiliated exchange today.
Further, the Exchange has proposed to introduce the ability to remove
liquidity as the default instruction for such orders, while allowing
Users that prefer the current functionality to continue to have their
orders handled in the same manner as they are today--i.e., Users could
chose to have these orders only add liquidity, as is the case with the
current functionality. As a result, the Exchange does not believe that
the proposed ability for these orders to remove liquidity would impose
any significant burden on competition. Similarly, the Exchange notes
that MDOs entered on the EDGA Book are permitted to be entered for an
odd lot quantity. The Exchange believes that permitting odd lot MDOs on
the EDGX Book would provide similar benefits to its Users by expanding
the potential use of this order type, without imposing any significant
burden on competition.

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 on the
proposed rule change.

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

    Because the foregoing proposed rule change does not:
    A. Significantly affect the protection of investors or the public
interest;
    B. impose any significant burden on competition; and
    C. become operative for 30 days from the date on which it was
filed, or such shorter time as the Commission may designate, it has
become effective pursuant to Section 19(b)(3)(A) of the Act \17\ and
Rule 19b-4(f)(6) \18\ thereunder. At any time within 60 days of the
filing of the proposed rule change, the Commission summarily may
temporarily suspend such rule change if it appears to the Commission
that such action is necessary or appropriate in the public interest,
for the protection of investors, or otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission will institute proceedings to determine whether the proposed
rule change should be approved or disapproved.
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    \17\ 15 U.S.C. 78s(b)(3)(A).
    \18\ 17 CFR 240.19b-4(f)(6).
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-CboeEDGX-2020-063 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-CboeEDGX-2020-063. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and

printing in the Commission's Public Reference Room, 100 F Street NE,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change. Persons submitting
comments are cautioned that we do not redact or edit personal
identifying information from comment submissions. You should submit
only information that you wish to make available publicly. All
submissions should refer to File Number SR-CboeEDGX-2020-063 and should
be submitted on or before January 13, 2021.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\19\
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    \19\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-28318 Filed 12-22-20; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 78, Number 159 (Friday, August 16, 2013)]
[Rules and Regulations]
[Pages 49963-49967]
[FR Doc No: 2013-19880]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Parts 1037, 1039, 1042, and 1068

DEPARTMENT OF TRANSPORTATION

National Highway Traffic Safety Administration

49 CFR Part 535

[EPA-HQ-OAR-2012-0102; NHTSA-2012-0152; FRL 9900-11-OAR]
RIN 2060-AR48; 2127-AL31

Heavy-Duty Engine and Vehicle and Nonroad Technical Amendments

AGENCIES: Environmental Protection Agency (EPA) and National Highway
Traffic Safety Administration (NHTSA), Department of Transportation.

ACTION: Partial withdrawal of direct final rule; direct final rule.

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SUMMARY: Because EPA and NHTSA, on behalf of the Department of
Transportation, received adverse comment on certain elements of the
Heavy-Duty Engine and Vehicle and Nonroad Technical Amendments direct
final rule published on June 17, 2013, we are withdrawing those
elements of the direct final rule and republishing the affected
sections without those elements.

DATES: Effective August 16, 2013, EPA withdraws the amendments to 40
CFR 1037.104, 037.150, 1039.104, 1039.625, 1042.615, and 1068.240
published at 78 FR 36388 on June 17, 2013, and NHTSA withdraws the
amendment to 49 CFR 535.5 published at 78 FR 36388 on June 17, 2013.
The direct final rule amendments are effective August 16, 2013.

FOR FURTHER INFORMATION CONTACT: Lily Smith, Office of Chief Counsel,
National Highway Traffic Safety Administration, 1200 New Jersey Avenue
SE., Washington, DC 20590; telephone:<PHONE_NUMBER>. Angela Cullen,
Environmental Protection Agency, Office of Transportation and Air
Quality, Assessment and Standards Division, 2000 Traverwood Drive, Ann
Arbor, Michigan 48105; telephone number:<PHONE_NUMBER>; email address:
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Because EPA and NHTSA received adverse
comment on certain elements of the Heavy-Duty Engine and Vehicle and
Nonroad Technical Amendments direct final rule published on June 17,
2013, at 78 FR 36370, we are withdrawing those elements of the direct
final rule and republishing the affected sections without those
elements. The withdrawal relates to four principal EPA provisions and
one principal NHTSA provision. The EPA provisions are: (1) Test
requirements for heavy-duty greenhouse gas emissions in 40 CFR part
1037, (2) optional chassis certification for heavy-duty greenhouse gas
emissions in 40 CFR part 1037, (3) expanded technical hardship for
equipment manufacturers installing nonroad diesel engines, and (4) the
replacement engine exemption in 40 CFR part 1068, along with the
corresponding changes to 40 CFR 1042.615. The NHTSA withdrawal relates
to the provision for optional chassis certification for heavy-duty fuel
efficiency requirements in 49 CFR 535.5(a)(6).
    We stated in the direct final rule that if we received adverse
comment by July 17, 2013 as to any part of the direct final rule, those
parts would be withdrawn by publishing a timely notice in the Federal
Register. Because EPA and NHTSA received adverse comment related to
certain provisions, we are withdrawing those amendments and they will
not take effect. The specific provisions that are being withdrawn are
identified below. To avoid any confusion with respect to 40 CFR
1068.240, concerning an exemption for replacement nonroad engines, the
effect of this withdrawal is that the current provisions of that
section remain in effect through Sec.  1068.240(d). The direct final
rule also republished paragraphs (e) and (f) and removed paragraph (g)
of Sec.  1068.240, and these are not being withdrawn.
    EPA published a parallel proposed rule on the same day as the
direct final rule. The proposed rule invited comment on the substance
of the direct final rule with respect to EPA's amendments to 40 CFR
parts 1037, 1039, 1042, and 1068. EPA intends to consider the comments
received and proceed with a new final rule, including but not limited
to addressing the amendments that relate to replacement nonroad engines
that are withdrawn by this notice. As stated in the parallel proposal,
EPA will not institute a second comment period for the proposed action
with respect to the provisions that are withdrawn by this notice. One
adverse comment relates to EPA's provision in 40 CFR 1037.150(l) and
NHTSA's provision in 49 CFR 535.5(a) (6). NHTSA may issue a notice of
proposed rulemaking (NPRM) and provide another opportunity to comment
for the withdrawn amendment to 49 CFR 535.5(a) (6). Both agencies would
coordinate any final actions on 40 CFR 1037.150(l) and 49 CFR 535.5(a)
(6). The amendments for which we did not receive adverse comment are
not being withdrawn and will become effective on August 16, 2013, as
provided in the June 17, 2013 direct final rule.
    Accordingly, the amendments to 40 CFR 1037.104(d)(9)(i),
1037.104(d)(9)(iii), 1037.104(g)(3)(iv), 1037.104(g)(7), 1037.150(l),
1039.104(g), 1039.625(m), 1042.615, and 1068.240 introductory text and
paragraphs (a) through (d) published on June 17, 2013 (78 FR 36388),
are withdrawn by EPA as of August 16, 2013, and the amendment to 49 CFR
535.5 published on June 17, 2013 (78 FR 36388) is withdrawn by DOT as
of August 16, 2013.

List of Subjects

40 CFR Part 1037

    Administrative practice and procedure, Air pollution control,
Confidential business information, Environmental protection,
Incorporation by reference, Labeling, Motor vehicle pollution,
Reporting and recordkeeping requirements, Warranties.

40 CFR Part 1039

    Environmental protection, Administrative practice and procedure,
Air pollution control, Confidential business information, Imports,
Labeling, Penalties, Reporting and recordkeeping requirements,
Warranties.

40 CFR Part 1042

    Environmental protection, Administrative practice and procedure,
Air pollution control, Confidential business information, Imports,
Labeling, Penalties, Reporting and recordkeeping requirements, Vessels,
Warranties.

40 CFR Part 1068

    Environmental protection, Administrative practice and procedure,
Confidential business information, Imports, Motor vehicle pollution,
Penalties, Reporting and recordkeeping requirements, Warranties.

49 CFR Part 535

    Fuel economy.

Title 40--Protection of Environment

    For the reasons set forth in the preamble, the Environmental
Protection Agency is amending title 40, chapter I of the Code of
Federal Regulations as follows:

PART 1037--CONTROL OF EMISSIONS FROM NEW HEAVY-DUTY MOTOR VEHICLES

0
1. The authority citation for part 1037 continues to read as follows:

    Authority:  42 U.S.C. 7401-7671q.

Subpart B--[Amended]

0
2. Section 1037.104 is amended by:
0
a. Revising paragraphs (a)(2) introductory text, (d)(2), (4), and (6),
(9), and (d)(12) and (13);
0
b. Adding paragraph (d)(15); and
0
c. Revising paragraph (g).
    The revisions and addition read as follows:

Sec.  1037.104  Exhaust emission standards for CO2,
CH4, and N2O for heavy-duty vehicles at or below
14,000 pounds GVWR.

* * * * *
    (a) * * *
    (2) Using the appropriate work factor, calculate a target value for
each vehicle subconfiguration (or group of subconfigurations allowed
under paragraph (a)(4) of this section) you produce using one of the
following equations, or the phase-in provisions in Sec.  1037.150(b),
rounding to the nearest 0.1 g/mile:
* * * * *
    (d) * * *
    (2) The following general credit provisions apply:
    (i) Credits you generate under this section may be used only to
offset credit deficits under this section. You may bank credits for use
in a future model year in which your average CO2 level
exceeds the standard. You may trade credits to another manufacturer
according to 40 CFR 86.1865-12(k)(8). Before you bank or trade credits,
you must apply any available credits to offset a deficit if the
deadline to offset that credit deficit has not yet passed.
    (ii) Vehicles subject to the standards of this section are included
in a single greenhouse gas averaging set separate from any averaging
set otherwise included in 40 CFR part 86.
    (iii) Banked CO2 credits keep their full value for five
model years after the year in which they were generated. Unused credits
expire at the end of this fifth model year.
* * * * *
    (4) The CO2, N2O, and CH4
standards apply for a weighted average of the city (55%) and highway
(45%) test cycle results. Note that this differs from the way the
criteria pollutant standards apply for heavy-duty vehicles.
* * * * *
    (6) Credits are calculated using the useful life value (in miles)
in place of ``vehicle lifetime miles'' specified in 40 CFR part 86,
subpart S. Calculate a total credit or debit balance in a model year by
adding credits and debits from 40 CFR 86.1865-12(k)(4), subtracting any
CO2-equivalent debits for N2O or CH4
calculated according to Sec.  1037.104(c), and adding any of the
following credits:
    (i) Advanced technology credits according to paragraph (d)(7) of
this section and Sec.  1037.150(i).
    (ii) Innovative technology credits according to paragraph (d)(13)
of this section.
    (iii) Early credits according to Sec.  1037.150(a)(2).
* * * * *
    (9) Calculate your fleet-average emission rate consistent with good
engineering judgment and the provisions of 40 CFR 86.1865. The
following additional provisions apply:
    (i) Unless we approve a lower number, you must test at least ten
subconfigurations. If you produce more than 100 subconfigurations in a
given model year, you must test at least ten percent of your
subconfigurations. For purposes of this paragraph (d)(9)(i), count
carryover tests, but do not include analytically derived CO2
emission rates, data substitutions, or other untested allowances. We
may approve a lower number of tests for manufacturers that have limited
product offerings, or low sales volumes. Note that good engineering
judgment and other provisions of this part may require you to test more
subconfigurations than these minimum values.
    (ii) The provisions of paragraph (g) of this section specify how
you may use analytically derived CO2 emission rates.
    (iii) At least 90 percent of final production volume at the
configuration level must be represented by test data (real, data
substituted, or analytical).
    (iv) Perform fleet-average CO2 calculations as described
in 40 CFR 86.1865 and 40 CFR part 600, with the following exceptions:
    (A) Use CO2 emissions values for all test results,
intermediate calculations, and fleet average calculations instead of
the carbon-related exhaust emission (CREE) values specified in 40 CFR
parts 86 and 600.
    (B) Perform intermediate CO2 calculations for
subconfigurations within each configuration using the subconfiguration
and configuration definitions in paragraph (d)(12) of this section.
    (C) Perform intermediate CO2 calculations for
configurations within each test group and transmission type (instead of
configurations within each base level and base levels within each model
type). Use the configuration definition in paragraph (d)(12)(i) of this
section.
    (D) Do not perform intermediate CO2 calculations for
each base level or for each model type. Base level and model type
CO2 calculations are not applicable to heavy-duty vehicles
subject to standards in this section.
    (E) Determine fleet average CO2 emissions for heavy-duty
vehicles subject to standards in this section as described in 40 CFR
600.510-12(j), except that the calculations must be performed on the
basis of test group and transmission type (instead of the model-type
basis specified in the light-duty vehicle regulations), and the
calculations for dual fuel, multi-fuel, and flexible fuel vehicles must
be consistent with the provisions of paragraph (d)(10)(i) of this
section.
* * * * *
    (12) The following definitions apply for the purposes of this
section:
    (i) Configuration means a subclassification within a test group
based on engine code, transmission type and gear ratios, final drive
ratio, and other parameters we designate. Transmission type means the
basic type of the transmission (e.g., automatic, manual, automated
manual, semi-automatic, or continuously variable) and

does not include the drive system of the vehicle (e.g., front-wheel
drive, rear- wheel drive, or four-wheel drive). Engine code means the
combination of both ``engine code'' and ``basic engine'' as defined in
40 CFR 600.002. Note that this definition differs from the one in 40
CFR 86.1803.
    (ii) Subconfiguration means a unique combination within a vehicle
configuration (as defined in this paragraph (d)(12)) of equivalent test
weight, road-load horsepower, and any other operational characteristics
or parameters that we determine may significantly affect CO2
emissions within a vehicle configuration. Note that for vehicles
subject to standards of this section, equivalent test weight (ETW) is
based on the ALVW of the vehicle as outlined in paragraph (d)(11) of
this section.
    (iii) The terms ``complete vehicle'' and ``incomplete vehicle''
have the meanings given for ``complete heavy-duty vehicle'' and
``incomplete heavy-duty vehicle'', respectively, in 40 CFR 86.1803.
    (13) This paragraph (d)(13) applies for CO2 reductions
resulting from technologies that were not in common use before 2010
that are not reflected in the specified test procedures. We may allow
you to generate emission credits consistent with the provisions of 40
CFR 86.1869-12(c) and (d). You do not need to provide justification for
not using the 5-cycle methodology.
* * * * *
    (15) You must submit a final report within 90 days after the end of
the model year. Unless we specify otherwise, include applicable
information identified in 40 CFR 86.1865-12(l), 40 CFR 600.512, and 49
CFR 535.8(e). The final report must include at least the following
information:
    (i) Model year.
    (ii) Applicable fleet-average CO2 standard.
    (iii) Calculated fleet-average CO2 value and all the
values required to calculate the CO2 value.
    (iv) Number of credits or debits incurred and all values required
to calculate those values.
    (v) Resulting balance of credits or debits.
    (vi) N2O emissions.
    (vii) CH4 emissions.
    (viii) HFC leakage score.
* * * * *
    (g) Analytically derived CO2 emission rates (ADCs). This
paragraph (g) describes an allowance to use estimated (i.e.,
analytically derived) CO2 emission rates based on baseline
test data instead of measured emission rates for calculating fleet-
average emissions. Note that these ADCs are similar to ADFEs used for
light-duty vehicles. Note also that F terms used in this paragraph (g)
represent coefficients from the following road load equation:

Force - (mass x acceleration) = F0 + F1 [middot] (velocity) + F2
[middot] (velocity) + F2 [middot] (velocity)2

    (1) Except as specified in paragraph (g)(2) of this section, use
the following equation to calculate the ADC of a new vehicle from road
load force coefficients (F0, F1, F2), axle ratio, and test weight:

ADC = CO2base + 2.18 [middot] [Delta]F0 + 37.4 [middot]
[Delta]F1 + 2257 [middot] [Delta]F2 + 189 [middot] [Delta]AR + 0.0222
[middot] [Delta]ETW

Where:

ADC = Analytically derived combined city/highway CO2
emission rate (g/mile) for a new vehicle.
CO2base = Combined city/highway CO2 emission
rate (g/mile) of a baseline vehicle.
[Delta]F0 = F0 of the new vehicle - F0 of the baseline vehicle.
[Delta]F1 = F1 of the new vehicle - F1 of the baseline vehicle.
[Delta]F2 = F2 of the new vehicle - F2 of the baseline vehicle.
[Delta]AR = Axle ratio of the new vehicle - axle ratio of the
baseline vehicle.
[Delta]ETW = ETW of the new vehicle - ETW of the baseline vehicle.

    (2) The purpose of this section is to accurately estimate
CO2 emission rates.
    (i) You must apply the provisions of this section consistent with
good engineering judgment. For example, do not use the equation in
paragraph (g)(1) of this section where good engineering judgment
indicates that it will not accurately estimate emissions. You may ask
us to approve alternate equations that allow you to estimate emissions
more accurately.
    (ii) The analytically derived CO2 equation in paragraph
(g)(1) of this section may be periodically updated through publication
of an EPA guidance document to more accurately characterize
CO2 emission levels for example, changes may be appropriate
based on new test data, future technology changes, or to changes in
future CO2 emission levels. Any EPA guidance document will
determine the model year that the updated equation takes effect. We
will issue guidance no later than eight months before the effective
model year. For example, for 2014 models, the model year may start
January 2, 2013, so guidance would be issued by May 1, 2012 for model
year 2014.
    (3) You may select, without our advance approval, baseline test
data if they meet all the following criteria:
    (i) Vehicles considered for the baseline test must comply with all
applicable emission standards in the model year associated with the
ADC.
    (ii) You must include in the pool of tests considered for baseline
selection all official tests of the same or equivalent basic engine,
transmission class, engine code, transmission code, engine horsepower,
dynamometer drive wheels, and compression ratio as the ADC
subconfiguration. Do not include tests in which emissions exceed any
applicable standard.
    (iii) Where necessary to minimize the CO2 adjustment,
you may supplement the pool with tests associated with worst-case
engine or transmission codes and carryover or carry-across engine
families. If you do, all the data that qualify for inclusion using the
elected worst-case substitution (or carryover or carry-across) must be
included in the pool as supplemental data (i.e., individual test
vehicles may not be selected for inclusion). You must also include the
supplemental data in all subsequent pools, where applicable.
    (iv) Tests previously used during the subject model year as
baseline tests in ten other ADC subconfigurations must be eliminated
from the pool.
    (v) Select the tested subconfiguration with the smallest absolute
difference between the ADC and the test CO2 emission rate
for combined emissions. Use this as the baseline test for the target
ADC subconfiguration.
    (4) You may ask us to allow you to use baseline test data not fully
meeting the provisions of paragraph (g)(3) of this section.
    (5) Calculate the ADC rounded to the nearest 0.1 g/mile. Except
with our advance approval, the downward adjustment of ADC from the
baseline is limited to ADC values 20 percent below the baseline
emission rate. The upward adjustment is not limited.
    (6) You may not submit an ADC if an actual test has been run on the
target subconfiguration during the certification process or on a
development vehicle that is eligible to be declared as an emission-data
vehicle.
    (7) No more than 40 percent of the subconfigurations tested in your
final CO2 submission may be represented by ADCs.
    (8) Keep the following records for at least five years, and show
them to us if we ask to see them:
    (i) The pool of tests.
    (ii) The vehicle description and tests chosen as the baseline and
the basis for the selection.
    (iii) The target ADC subconfiguration.
    (iv) The calculated emission rates.

    (9) We may perform or order a confirmatory test of any
subconfiguration covered by an ADC.
    (10) Where we determine that you did not fully comply with the
provisions of this paragraph (g), we may require that you comply based
on actual test data and that you recalculate your fleet- average
emission rate.

* * * * *

0
3. Section 1037.150 is amended by revising paragraph (a)(2) to read as
follows:

Sec.  1037.150  Interim provisions.

* * * * *
    (a) * * *
    (2) This paragraph (a)(2) applies for regulatory sub-categories
subject to the standards of Sec.  1037.104. To generate early credits
under this paragraph (a)(2) for any vehicles other than electric
vehicles, you must certify your entire U.S.-directed fleet to these
standards. If you calculate a separate fleet average for advanced-
technology vehicles under Sec.  1037.104(c)(7), you must certify your
entire U.S.-directed production volume of both advanced and
conventional vehicles within the fleet. Except as specified in
paragraph (a)(4) of this section, if some test groups are certified
after the start of the model year, you may generate credits only for
production that occurs after all test groups are certified. For
example, if you produce three test groups in an averaging set and you
receive your certificates for those test groups on January 4, 2013,
March 15, 2013, and April 24, 2013, you may not generate credits for
model year 2013 for vehicles from any of the test groups produced
before April 24, 2013. Calculate credits relative to the standard that
would apply in model year 2014 using the applicable equations in 40 CFR
part 86 and your model year 2013 U.S.-directed production volumes.
These credits may be used to show compliance with the standards of this
part for 2014 and later model years. We recommend that you notify us of
your intent to use this provision before submitting your applications.
* * * * *

PART 1039--CONTROL OF EMISSIONS FROM NEW AND IN-USE NONROAD
COMPRESSION-IGNITION ENGINES

0
4. The authority citation for part 1039 continues to read as follows:

    Authority:  42 U.S.C. 7401-7671q.

Subpart G--[Amended]

0
5. Section 1039.625 is amended by revising paragraphs (e) and (j)
introductory text to read as follows:

Sec.  1039.625  What requirements apply under the program for
equipment-manufacturer flexibility?

* * * * *
    (e) Standards. If you produce equipment with exempted engines under
this section, the engines must meet emission standards specified in
this paragraph (e), or more stringent standards. Note that we consider
engines to be meeting emission standards even if they are certified
with a family emission limit that is higher than the emission standard
that would otherwise apply.
    (1) If you are using the provisions of paragraph (d)(4) of this
section, engines must meet the applicable Tier 1 or Tier 2 emission
standards described in 40 CFR 89.112.
    (2) If you are using the provisions of paragraph (a)(2) of this
section, engines must be identical in all material respects to engines
certified under this part 1039 as follows:

------------------------------------------------------------------------
                                             Must meet all standards and
Engines in the following power category. .  requirements that applied in
                     .                       the following model year. .
                                                          .
------------------------------------------------------------------------
(i) 19 <= kW < 56.........................  2008 (Option 1, where
                                             applicable).
(ii) 56 <= kW < 130.......................  2012 (Phase-out).
(iii) 130 <= kW <= 560....................  2011 (Phase-out).
(iv) kW > 560.............................  2011.
------------------------------------------------------------------------

    (3) In all other cases, engines at or above 56 kW and at or below
560 kW must meet the appropriate Tier 3 standards described in 40 CFR
89.112.
* * * * *
    (j) Provisions for engine manufacturers. As an engine manufacturer,
you may produce exempted engines as needed under this section. You do
not have to request this exemption for your engines, but you must have
written assurance from equipment manufacturers that they need a certain
number of exempted engines under this section. Send us an annual report
of the engines you produce under this section, as described in Sec.
1039.250(a). Exempt engines must meet the emission standards in
paragraph (e) of this section and you must meet all the requirements of
40 CFR 1068.265, except that engines produced under the provisions of
paragraph (a)(2) of this section must be identical in all material
respects to engines previously certified under this part 1039. If you
show under 40 CFR 1068.265(c) that the engines are identical in all
material respects to engines that you have previously certified to one
or more FELs above the standards specified in paragraph (e) of this
section, you must supply sufficient credits for these engines.
Calculate these credits under subpart H of this part using the
previously certified FELs and the alternate standards. You must meet
the labeling requirements in 40 CFR 89.110 or Sec.  1039.135, as
applicable, with the following exceptions:
* * * * *

PART 1068--GENERAL COMPLIANCE PROVISIONS FOR HIGHWAY, STATIONARY,
AND NONROAD PROGRAMS

0
6. The authority citation for part 1068 continues to read as follows:

    Authority: 42 U.S.C. 7401-7671q.

Subpart C--Exemptions and Exclusions

Sec.  1068.240  [Amended]

0
7. Section 1068.240 is amended by removing paragraph (g).

Title 49--Transportation

    For the reasons set forth in the preamble, the National Highway
Traffic Safety Administration is amending title 49, chapter V, of the
Code of Federal Regulations as follows:

PART 535--MEDIUM- AND HEAVY-DUTY VEHICLE FUEL EFFICIENCY PROGRAM

0
8. The authority citation for part 535 is revised to read as follows:

    Authority:  49 U.S.C 32901, delegation of authority at 49 CFR
1.95.

0
9. Amend Sec.  535.5 by:
0
a. Revising paragraph (a)(4)(i) and adding paragraphs (a)(4)(v) and
(vi);
0
b. Revising paragraph (b)(2)(i) and adding paragraphs (b)(2)(iii) and
(iv); and
0
c. Revising paragraph (c)(2)(i) and adding paragraphs (c)(2)(iii),
(c)(2)(iv); and
0
d. Revising paragraph (c)(5).
    The revisions and additions read as follows:

Sec.  535.5  Standards.

    (a) * * *
    (4) * * *
    (i) Manufacturers may choose voluntarily to comply early with fuel
consumption standards for model years 2013 through 2015, as determined
in paragraphs (a)(4)(iii) and (iv) of this section, for example, in
order to begin accumulating credits through over-

compliance with the applicable standard. A manufacturer choosing early
compliance must comply with all the vehicles and engines it
manufactures in each regulatory category for a given model year except
as provided in paragraphs (a)(4)(v) and (vi) of this section.
* * * * *
    (v) For model year 2013, a manufacturer can choose to comply with
the standards in paragraph (a) of this section and generate early
credits under Sec.  535.7(b) by using the entire U.S.-directed
production volume of vehicles other than electric vehicles as specified
in 40 CFR 1037.150. The model year 2014 standards in paragraph (a) of
this section apply for vehicles complying in model year 2013. If some
test groups are certified by EPA after the start of the model year, the
manufacturer may only generate credits under Sec.  535.7(b) for the
production that occurs after all test groups are certified in
accordance with 40 CFR 1037.150 (a)(2).
    (vi) For model year 2014, a manufacturer producing model year 2014
vehicles before January 1, 2014, may optionally elect to comply with
these standards for a partial model year that begins on January 1,
2014, and ends on the day the manufacturer's model year would normally
end if it meets the provisions in 40 CFR 1037.150(g).
* * * * *
    (b) * * *
    (2) * * *
    (i) For model years 2013 through 2015, a manufacturer may choose
voluntarily to comply early with the fuel consumption standards
provided in paragraph (b)(3) of this section. For example, a
manufacturer may choose to comply early in order to begin accumulating
credits through over-compliance with the applicable standards. A
manufacturer choosing early compliance must comply with all the
vehicles and engines it manufacturers in each regulatory category for a
given model year except as provided in paragraphs (b)(2)(iii) through
(iv) of this section.
* * * * *
    (iii) For model year 2013, a manufacturer can choose to comply with
the standards in this paragraph (b) and generate early credits under
Sec.  535.7(c) by using the entire U.S.-directed production volume
within any of its regulatory sub-categories of vehicles other than
electric vehicles as specified in 40 CFR 1037.150. The model year 2014
standards in this paragraph (b) apply for vehicles complying in model
year 2013. If some vehicle families within a regulatory subcategory are
certified by EPA after the start of the model year, manufacturers may
generate credits under Sec.  535.7(c) only for production that occurs
after all families are certified in accordance with 40 CFR
1037.150(a)(1).
    (iv) For model year 2014, a manufacturer producing model year 2014
vehicles before January 1, 2014, may optionally elect to comply with
these standards for a partial model year that begins on January 1,
2014, and ends on the day the manufacturer's model year would normally
end if it meets the provisions in 40 CFR 1037.150(g).
* * * * *
    (c) * * *
    (2) * * *
    (i) For model years 2013 through 2015, a manufacturer may choose
voluntarily to comply early with the fuel consumption standards
provided in paragraph (c)(3) of this section. For example, a
manufacturer may choose to comply early in order to begin accumulating
credits through over-compliance with the applicable standards. A
manufacturer choosing early compliance must comply with all the
vehicles and engines it manufacturers in each regulatory category for a
given model year except as provided in paragraphs (c)(2)(iii) through
(iv) of this section.
* * * * *
    (iii) For model year 2013, a manufacturer can choose to comply with
the standards in this paragraph (c) and generate early credits under
Sec.  535.7(c) by using the entire U.S.-directed production volume
within any of its regulatory sub-categories of vehicles other than
electric vehicles as specified in 40 CFR 1037.150. The model year 2014
standards in this paragraph (c) apply for vehicles complying in model
year 2013. If some vehicle families within a regulatory subcategory are
certified by EPA after the start of the model year, manufacturers may
generate credits under Sec.  535.7(c) only for production that occurs
after all families are certified in accordance with 40 CFR
1037.150(a)(1).
    (iv) For model year 2014, a manufacturer producing model year 2014
vehicles before January 1, 2014, may optionally elect to comply with
these standards for a partial model year that begins on January 1,
2014, and ends on the day the manufacturer's model year would normally
end if it meets the provisions in 40 CFR 1037.150(g).
* * * * *
    (5) Vocational tractors. Tractors meeting the definition of
vocational tractors in 49 CFR 523.2 for purposes of certifying vehicles
to fuel consumption standards, are divided into families of vehicles as
specified in 40 CFR 1037.230(a)(1) and must comply with standards for
heavy-duty vocational vehicles and engines of the same weight class
specified in paragraphs (b) and (d) of this section. Class 7 and Class
8 tractors certified or exempted as vocational tractors are limited in
production to no more than 21,000 vehicles in any three consecutive
model years. If a manufacturer is determined as not applying this
allowance in good faith by the EPA in its applications for
certification in accordance with 40 CFR 1037.205 and 1037.630, a
manufacturer must comply with the tractor fuel consumption standards in
paragraph (c)(3) of this section. Vocational tractors generating
credits can trade and transfer credits in the same averaging sets as
tractors and vocational vehicles in the same weight class.
* * * * *

    Dated: August 8, 2013.
David L. Strickland,
Administrator, National Highway Traffic Safety Administration,
Department of Transportation.
    Dated: August 8, 2013.
Janet G. McCabe,
Acting Assistant Administrator, Office of Air and Radiation,
Environmental Protection Agency.
[FR Doc. 2013-19880 Filed 8-15-13; 8:45 am]
BILLING CODE P


[Federal Register Volume 82, Number 73 (Tuesday, April 18, 2017)]
[Rules and Regulations]
[Pages 18223-18224]
[FR Doc No: 2017-07765]

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

DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 117

[Docket No. USCG-2017-0225]

Drawbridge Operation Regulation; Curtis Creek, Baltimore, MD

AGENCY: Coast Guard, DHS.

ACTION: Notice of temporary deviation from drawbridge regulation;
modification.

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

SUMMARY: The Coast Guard has modified a temporary deviation from the
operating schedule that governs the I695 Bridge, at mile 1.0, across
Curtis Creek, Baltimore, MD. This modified deviation is necessary to
remove, repair and replace the inner and outer loop locking bar and
couplings. This deviation allows the bridge to remain in the closed-to-
navigation position.

DATES: This modified deviation is effective without actual notice from
April 18, 2017 through 7 p.m. on May 5, 2017. For the purposes of
enforcement, actual notice will be used from 6:00 a.m. on April 10,
2017, until April 18, 2017.

ADDRESSES: The docket for this deviation, [USCG-2017-0225] is available
at http://www.regulations.gov. Type the docket number in the ``SEARCH''
box and click ``SEARCH''. Click on Open Docket Folder on the line
associated with this deviation.

FOR FURTHER INFORMATION CONTACT: If you have questions on this
temporary deviation, call or email Mr. Martin Bridges, Bridge
Administration Branch Fifth District, Coast Guard, telephone 757-398-
6422, email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: On March 27, 2017, the Coast Guard published
a temporary deviation entitled ``Drawbridge Operation Regulation:
Curtis Creek, Baltimore, MD'' in the

Federal Register (82 FR 15137). Under that temporary deviation, the
bridge will remain in the closed-to-navigation position from 6 a.m. on
April 10, 2017, through 7 p.m. on April 15, 2017. The Maryland
Transportation Authority, who owns and operates the I695 Bridge across
Curtis Creek, mile 1.0, at Baltimore, MD, has requested a modified
temporary deviation from the current operating regulation set out in 33
CFR 117.557, to remove, repair, and replace the inner and outer loop
locking bar and couplings. This modified temporary deviation serves to
replace the previous temporary deviation in the Federal Register (82 FR
15137), immediately upon its publication into the Federal Register.
    Under this modified temporary deviation, the bridge will remain in
the closed-to-navigation position from 6 a.m. to 7 p.m., from April 10,
2017, through April 17, 2017, and from May 1, 2017, through May 5,
2017. The bridge will open on signal if at least 24 hours notice is
given from 7 p.m. to 6 a.m., from April 10, 2017, through April 17,
2017, and from May 1, 2017, through May 5, 2017. At all other times the
bridge will operate per 33 CFR 117.557. The drawbridge has two spans,
each with double-leaf bascule draws, and both spans have a vertical
clearance in the closed-to-navigation position of 58 feet above mean
high water.
    Curtis Creek is used by military vessels, recreational vessels, tug
and barge traffic, fishing vessels, and small commercial vessels. The
Coast Guard has carefully considered the nature and volume of vessel
traffic on the waterway in publishing this temporary deviation.
    Vessels able to pass through the bridge in the closed position may
do so at any time. The bridge spans will not be able to open in case of
an emergency and there is no immediate alternate route for vessels to
pass. The Coast Guard will also inform the users of the waterway
through our Local Notice and Broadcast Notices to Mariners of the
change in operating schedule for the bridge so that vessel operators
can arrange their transits to minimize any impact caused by the
temporary deviation.
    In accordance with 33 CFR 117.35(e), the drawbridge must return to
its regular operating schedule immediately at the end of the effective
period of this temporary deviation. This deviation from the operating
regulations is authorized under 33 CFR 117.35.

    Dated: April 12, 2017.
Hal R. Pitts,
Bridge Program Manager, Fifth Coast Guard District.
[FR Doc. 2017-07765 Filed 4-17-17; 8:45 am]
 BILLING CODE 9110-04-P


[Federal Register Volume 77, Number 103 (Tuesday, May 29, 2012)]
[Notices]
[Pages 31607-31608]
[FR Doc No: 2012-12869]

=======================================================================
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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. IC12-7-000]

Commission Information Collection Activities (FERC-587); Comment
Request

AGENCY: Federal Energy Regulatory Commission, DOE.

ACTION: Comment request.

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

SUMMARY: In compliance with the requirements of the Paperwork Reduction
Act of 1995, 44 United States Code (U.S.C.) 3507(a)(1)(D), the Federal
Energy Regulatory Commission (Commission or FERC) is submitting the
information collection FERC-587, Land Description (Public Land States/
Non-Public Land States [Rectangular or Non-Rectangular Survey System
Lands in Public Land States]) to the Office of Management and Budget
(OMB) for review of the information collection requirements. Any
interested person may file comments directly with OMB and should
address a copy of those comments to the Commission as explained below.
The Commission issued a Notice in the Federal Register (77 FR 11518,
02/27/2012) requesting public comments. FERC received no comments on
the FERC-587 and is making this notation in its submittal to OMB.

DATES: Comments on the collection of information are due by June 28,
2012.

ADDRESSES: Comments filed with OMB, identified by the OMB Control No.
1902-0145, should be sent via email to the Office of Information and
Regulatory Affairs<EMAIL_ADDRESS>Attention: Federal Energy
Regulatory Commission Desk Officer. The Desk Officer may also be
reached via telephone at<PHONE_NUMBER>.
    A copy of the comments should also be sent to the Federal Energy
Regulatory Commission, identified by the Docket No. IC12-7-000, by
either of the following methods:
     eFiling at Commission's Web Site: http://www.ferc.gov/docs-filing/efiling.asp.
     Mail/Hand Delivery/Courier: Federal Energy Regulatory
Commission, Secretary of the Commission, 888 First Street NE.,
Washington, DC 20426.

Instructions: All submissions must be formatted and filed in accordance
with submission guidelines at: http://www.ferc.gov/help/submission-guide.asp. For user assistance contact FERC Online Support by email at
<EMAIL_ADDRESS>or by phone at:<PHONE_NUMBER> (toll-free),
or<PHONE_NUMBER> for TTY.
    Docket: Users interested in receiving automatic notification of
activity in this docket or in viewing/downloading comments and
issuances in this docket may do so at http://www.ferc.gov/docs-filing/docs-filing.asp.

FOR FURTHER INFORMATION CONTACT: Ellen Brown may be reached by email at
<EMAIL_ADDRESS>by telephone at<PHONE_NUMBER>, and by fax at
(202) 273-0873.

SUPPLEMENTARY INFORMATION:
    Title: FERC-587, Land Description (Public Land States/Non-Public
Land States [Rectangular or Non-Rectangular Survey System Lands in
Public Land States]).
    OMB Control No.: 1902-0145.
    Type of Request: Three-year extension of the FERC-587 information
collection requirements with no changes to the reporting requirements.
    Abstract: The Commission requires the FERC-587 information
collection to satisfy the requirements of section 24 of the Federal
Power Act (FPA). The Federal Power Act grants the Commission authority
to issue licenses for the development and improvement of navigation and
for the development, transmission, and utilization of power across,
along, from or in any of the steams or other bodies of water over which
Congress has jurisdiction.\1\ The Electric Consumers Protection Act
(ECPA) amended the FPA to allow the Commission the responsibility of
issuing licenses for nonfederal hydroelectric plants.\2\ Section 24 of
the FPA requires that applicants proposing hydropower projects on (or
changes to existing projects located within) lands owned by the United
States to provide a description of the applicable U.S. land.
Additionally, the FPA requires the notification of the Commission and
Secretary of the Interior of the hydropower proposal. FERC-587
consolidates the information required and identifies hydropower project
boundary maps associated with the applicable U.S. land.
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    \1\ 16 U.S.C. 797d (2010).
    \2\ Public Law 99-495, 100 Stat. 1243 (1996).
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    The information consolidated by the Form No. 587 verifies the
accuracy of the information provided for the FERC-587 to the Bureau of
Land Management (BLM) and the Department of the Interior (DOI).
Moreover, this information ensures that U.S. lands can be reserved as
hydropower sites and withdrawn from other uses.
    Type of Respondents: Applicants proposing hydropower projects on
(or changes to existing projects located within) lands owned by the
United States.
    Estimate of Annual Burden: \3\ The Commission estimates the total
Public Reporting Burden for this information collection as:
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    \3\ Burden is defined as the total time, effort, or financial
resources expended by persons to generate, maintain, retain, or
disclose or provide information to or for a Federal agency. For
further explanation of what is included in the information
collection burden, reference 5 Code of Federal Regulations 1320.3.

  FERC-587 (IC12-7-000): Land Description (Public Land States/Non-Public Land States [Rectangular or Non-Rectangular Survey System Lands in Public Land
                                                                        States])
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                Number of                       Average burden
                                                                        Number of      responses per   Total number of     hours per     Estimated total
                                                                       respondents       respondent       responses         response      annual burden
                                                                                (A)              (B)    (A) x (B) = (C)            (D)                (C) x (D)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Hydropower Project Applicants......................................             250                1              250                1              250
--------------------------------------------------------------------------------------------------------------------------------------------------------

    The total estimated annual cost burden to respondents is $17,252
[250 hours / 2,080 \4\ hours/year = 0.12019 * $143,540/year \5\ =
$17,252].
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    \4\ 2080 hours = 40 hours/week * 52 weeks (1 year).
    \5\ Average annual salary per employee in 2012.
---------------------------------------------------------------------------

    The estimated annual cost of filing the FERC-587 per response is
$69 [$17,252 / 250 responses = $69/response].
    Comments: Comments are invited on: (1) Whether the collection of
information is necessary for the proper performance of the functions of
the Commission, including whether the information will have practical
utility; (2) the accuracy of the agency's estimate of the burden and
cost of the collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility and clarity of the information collection; and (4) ways to
minimize the burden of the collection of information on those who are
to respond, including the use of automated collection techniques or
other forms of information technology.

    Dated: May 21, 2012.
Kimberly D. Bose,
Secretary.
[FR Doc. 2012-12869 Filed 5-25-12; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register: September 28, 2006 (Volume 71, Number 188)]
[Notices]
[Page 57017-57019]
[DOCID:fr28se06-99]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54485; File No. SR-Phlx-2006-56]

Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
and Amendment No. 1 Thereto Relating to Amending the Summary of Index
Option and FXI Options Charges and the $60,000 ``Firm Related'' Equity
Option and Index Option Cap

September 22, 2006.
    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 August 31, 2006, the Philadelphia Stock Exchange, Inc. (``Phlx'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. On
September 19, 2006, the Exchange submitted Amendment No. 1 to the
proposed rule change.\3\ The Phlx has designated this proposal as one
changing a fee imposed by the Phlx under section 19(b)(3)(A)(ii) of the
Act \4\ and Rule 19b-4(f)(2) thereunder,\5\ which renders the proposal
effective upon filing with the Commission. The Commission is publishing
this notice to solicit comments on the proposed rule

change, as amended, from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Amendment No. 1 (``Amendment No. 1'') removes all references
in the proposed rule change that relate to clarifying who may
receive payment for order flow funds in connection with the
Exchange's payment for order flow program.
    \4\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \5\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Phlx proposes to remove the reference to options listed on the
iShares FTSE/Xinhua China 25 Index Fund (``FXI Options'') from the
Exchange's Summary of Index Option and FXI Options Charges. Therefore,
the Exchange proposes to charge transactions involving FXI Options
according to the Exchange's Summary of Equity Option Charges, which
would, in turn, include payment for order flow charges, effective for
trades settling on or after September 1, 2006.
    The Exchange also proposes to delete references to Full-size index
options (``QCX'') and Mini index options (``QCE'') on the Nasdaq
Composite Index, Inc.[supreg] \6\ from its current Summary of Index
Option and FXI Options Charges and $60,000 ``Firm Related'' Equity
Option and Index Option Cap, as these products are no longer listed or
traded at the Exchange.
---------------------------------------------------------------------------

    \6\ The Nasdaq Composite Index[supreg] is a registered trademark
of The Nasdaq Stock Market LLC, and is licensed for use by Phlx.
---------------------------------------------------------------------------

    The text of the proposed rule change is available on the Exchange's
Web site at http://www.Phlx.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 Phlx included statements
concerning the purpose of and basis for the proposed rule change, as
amended, and discussed any comments it received on the proposed rule
change, as amended. The text of these statements may be examined at the
places specified in Item IV below. The Phlx 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 states that it currently charges transactions
involving FXI options, an equity option, according to the Exchange's
Summary of Index Option and FXI Options Charges. The Exchange states
that it began charging FXI Options in the same manner that the Exchange
charges for index options beginning with transactions settling on or
after October 19, 2004. The Exchange believed, at that time, that
charging FXI Options according to the rates set forth in the Exchange's
Summary of Index Option and FXI Options Charges was reasonable for
these types of products because the higher charges were to help defray
some of the license fees incurred by the Exchange in connection with
the listing and trading of FXI Options.
    The Exchange states that the purpose of this proposal is to remain
competitive with other exchanges that also trade FXI Options pursuant
to their respective equity option fee schedules. By assessing
transactions involving FXI Options according to the Exchange's Summary
of Equity Option Charges, the Exchange believes that the transaction
fees would be the same or lower than the charges currently assessed,
which should, in turn, encourage more FXI Options business to be
transacted on the Exchange. In addition, because FXI Options would now
be subject to the Exchange's fee schedule, a payment for order flow
fee, as set forth on the Exchange's Summary of Equity Option Charges,
may now be charged on FXI Option transactions, which the Exchange
believes may also encourage additional order flow.\7\
---------------------------------------------------------------------------

    \7\ Specialist units and Directed Registered Options Traders
elect to opt into or out of the Exchange's payment for order flow
program.
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    The Exchange states that the purpose of removing references to QCX
and QCE from the Exchange's current Summary of Index Option and FXI
Options Charges and $60,000 ``Firm Related'' Equity Option and Index
Option Cap is to update these fee schedules to reflect the fact that
these products have been delisted from, and therefore no longer trade
on, the Exchange.
2. Statutory Basis
    The Exchange believes that its proposal, as amended, is consistent
with section 6(b) of the Act \8\ in general, and furthers the
objectives of sections 6(b)(4) of the Act \9\ in particular, in that it
is an equitable allocation of reasonable dues, fees, and other charges
among Exchange members.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

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

    The Exchange does not believe that the proposed rule change, as
amended, will 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

    No written comments were either solicited or received.

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

    The foregoing proposed rule change, as amended, has been designated
as a fee change pursuant to section 19(b)(3)(A)(ii) of the Act \10\ and
Rule 19b-4(f)(2) \11\ thereunder, because it establishes or changes a
due, fee, or other charge imposed by the Exchange. Accordingly, the
proposal, as amended, will take effect upon filing with the Commission.
At any time within 60 days of the filing of such proposed rule change,
the Commission may summarily abrogate 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.\12\
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    \10\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \11\ 17 CFR 240.19b-4(f)(2).
    \12\ The effective date of the original proposed rule change is
August 31, 2006, and the effective date of Amendment No. 1 is
September 19, 2006. For purposes of calculating the 60-day period
within which the Commission may summarily abrogate the proposed rule
change, as amended, the Commission considers the period to commence
on September 19, 2006, the date on which the Exchange submitted
Amendment No. 1. See 15 U.S.C. 78s(b)(3)(C).
---------------------------------------------------------------------------

IV. Solicitation of Comments

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

Electronic Ccomments

     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-Phlx-2006-56 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-Phlx-2006-56. 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 Phlx. 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-2006-56 and should be
submitted on or before October 19, 2006.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
 [FR Doc. E6-15926 Filed 9-27-06; 8:45 am]

BILLING CODE 8010-01-P