[Federal Register: November 8, 2005 (Volume 70, Number 215)]
[Notices]
[Page 67765-67772]
[DOCID:fr08no05-68]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-52718; File No. SR-Amex-2005-060]

Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing of Proposed Rule Change and Amendments Nos. 1, 2, and
3 Thereto Relating to Amendments to the Obvious Error Rules

November 2, 2005.
    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 May 31, 2005, the American Stock Exchange LLC (``Amex'' 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 21, 2005, the Amex submitted Amendment No. 1 to the proposed
rule change.\3\ On October 4, 2005, the Amex submitted Amendment No. 2
to the proposed rule change.\4\ On October 27, 2005, the Amex submitted
Amendment No. 3 to the proposed rule change.\5\ 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\ See Form 19b-4 dated September 21, 2005, which replaced the
original filing in its entirety (``Amendment No. 1'').
    \4\ Amendment No. 2 corrected technical errors in the proposed
rule text.
    \5\ Amendment No. 3 incorporated certain proposed revisions to
Amex Rules 936 and 936--ANTE contained in Amendment No. 1 to Amex
Rules 936C and 936C--ANTE and corrected an error in the proposed
rule text of Amex Rules 936C and 936C--ANTE.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Amex proposes to: (i) Amend the equity and index options
obvious error rules to revise the manner in which an obvious price
error is determined for both equity and index options; (ii)

clarify the determination of ``Fair Market Value'' in connection with
the index option obvious error rule; (iii) amend the equity and index
options obvious error rules relating to an erroneous quote in the
underlying security; (iv) amend the equity and index options obvious
error rules to permit transactions executed outside of trading hours to
be cancelled; (v) amend how obvious errors based on ``verifiable
disruptions or malfunctions of Exchange systems'' as set forth in both
the equity and index obvious error rules are adjusted or cancelled; and
(vi) revise the equity and index options obvious error rules to amend
the terms that relate to the cancellation of ``no bid series.''
    Below is the text of the proposed rule change. Proposed new
language is in italics; proposed deletions are in [brackets].
* * * * *
Rule 936. Cancellation and Adjustment of Equity Options Transactions
    This Rule governs the cancellation and adjustment of transactions
involving equity options. Rules 936C and 936C--ANTE govern the
cancellation and adjustment of transactions involving options on
indexes, exchange-traded funds (``ETFs'') and trust issued receipts
(``TIRs''). Paragraphs (a)(1) and (2) of this Rule have no
applicability to trades executed in open outcry.
    (a) Trades Subject to Review. A member or person associated with a
member may have a trade cancelled or adjusted if, in addition to
satisfying the procedural requirements of paragraph (b) below, one of
the following conditions is satisfied:
    (1) Obvious Price Error. An obvious pricing error occurs when the
execution price of an electronic transaction is above or below the
Theoretical Price for the series by an amount equal to at least the
amount shown below:

------------------------------------------------------------------------
                                                                Minimum
                      Theoretical price                          amount
------------------------------------------------------------------------
Below $2.....................................................      $0.25
$2 to $5.....................................................       0.40
Above $5 to $10..............................................       0.50
Above $10 to $20.............................................       0.80
Above $20....................................................       1.00
------------------------------------------------------------------------

    Definition of Theoretical Price. For purposes of this Rule only,
the Theoretical Price of an option series is, for series traded on at
least one other options exchange, the last bid price with respect to an
erroneous sell transaction and the last offer price with respect to an
erroneous buy transaction, just prior to the trade, disseminated by the
competing options exchange that has the most liquidity in that option
class in the previous two calendar months. The Theoretical Price will
not include the last bid price (erroneous sell transaction) or last
offer price (erroneous buy transaction) of the competing options
exchange that has the most liquidity in that options class in the
previous two calendar quarters if such competing options exchange
widens its quote to incorporate the prior erroneous quote of the
Exchange. In such a case, the Theoretical Price shall be the last bid
price (erroneous sell transaction) and the last offer price (erroneous
buy transaction) just prior to the trade, disseminated by the competing
options exchange with the next best liquidity. If there are no
competing options exchanges left without an erroneous quote, the
Theoretical Price shall be the first quote of the competing options
exchange, that has the most liquidity in that options class in the
previous two calendar quarters, after the transaction(s) in question
that does not reflect the erroneous quote. If there are no quotes for
comparison, designated Trading Officials will determine the Theoretical
Price. For transactions occurring as part of an opening, the
Theoretical Price shall be the first quote after the transaction(s) in
question that does not reflect the erroneous transaction(s).
    (i) Cancellation or Price Adjustment. Obvious Pricing Errors will
be cancelled or adjusted as follows.
     Transactions Between Amex specialists/registered options
traders (ROTs): Where both parties to the transaction are Amex
specialists/ROTs, the execution price of the transaction will be
adjusted by Trading Officials to the prices provided in Paragraphs (A)
and (B) below, minus (plus) an adjustment penalty (``adjustment
penalty''), unless both parties agree to adjust the transaction to a
different price or agree to cancel the trade within fifteen (15)
minutes of being notified by Trading Officials of the Obvious Error.
    (A) Erroneous buy transactions will be adjusted to their
Theoretical Price plus an adjustment penalty of either $.15 if the
Theoretical Price is under $3 or $.30 if the Theoretical Price is at or
above $3.
    (B) Erroneous sell transactions will be adjusted to their
Theoretical Price minus an adjustment penalty of either $.15 if the
Theoretical Price is under $3 or $.30 if the Theoretical Price is at or
above $3.
     Transactions Involving at least one non-Amex specialist/
ROT: Where one of the parties to the transaction is not an Amex
specialist/ROT, the transactions will be cancelled by Trading Officials
unless both parties agree to an adjustment price for the transaction
within thirty (30) minutes of being notified by Trading Officials of
the Obvious Error.
    (2) No Bid Series. Electronic transactions in series quoted no bid
[at a nickel (i.e., $0.05 offer)] will be cancelled provided at least
one strike price below (for calls) or above (for puts) in the same
options class was quoted no bid [at a nickel] at the time of execution.
    (3) Verifiable Disruptions or Malfunctions of Exchange Systems:
Electronic or open outcry transactions arising out of a ``verifiable
disruption or malfunction'' in the use or operation of any Exchange (a)
automated quotation, dissemination, execution, or communication system
that caused a quote/order to trade in excess of its disseminated size
(e.g., a quote/order that is frozen because of an Exchange system error
and is repeatedly traded) in which case trades in excess of the
disseminated size may be nullified; or (b) automated quotation,
dissemination or communication system that prevented a member from
updating or canceling a quote/order for which the member is
responsible, provided there is Exchange documentation reflecting that
the member sought to update or cancel the quote/order. With respect to
verifiable disruptions or malfunctions of the Exchange's automated
quotation system, documentation of the existence of the disruption or
malfunction will be sufficient provided the automated quotation system
was programmed to update or cancel a quote based upon specific changes
in the underlying, those changes occurred and due to the disruption or
malfunction the quote was not updated or cancelled. Unless the parties
agree to a price adjustment, the transaction will be cancelled.
[Transactions that qualify for price adjustment will be adjusted to the
Theoretical Price, as defined in paragraph (a)(1) above.]
    (4) No Change
    (5) Erroneous Quote in Underlying. (i) Electronic trades (this
provision does not apply to trades executed in open outcry) resulting
from an erroneous quote in the underlying security may be adjusted or
canceled as set forth in paragraph (a)(1) above. An erroneous quote
occurs when the underlying security has a width of at least $1.00 and
has a width at least five times greater than the average quote width
for such underlying security on the primary market (as defined in Rule
900 (b)(26)) during the time period encompassing two minutes before and
after the dissemination of such quote. For purposes of this Rule, the
average quote width shall be determined by adding the

quote widths of each separate quote during the four minute time period
referenced above (excluding the quote in question) and dividing the
number of quotes during such time period (excluding the quote in
question).
    (ii) Electronic trades resulting from an erroneous quote in the
underlying security may also be adjusted or cancelled as set forth in
paragraph (a)(1)(i) above when (i) a national securities exchange or
the Nasdaq Stock Market, Inc.'s quotes are not firm based upon direct
communication from that market or dissemination of a message indicating
the quotes are not firm or (ii) a national securities exchange or the
Nasdaq Stock Market, Inc. has directly communicated or otherwise
confirmed that it is experiencing systems or other problems affecting
the reliability of its disseminated quotes.
    (6) Transactions Executed Outside of Trading Hours. All equity
options transactions that occur outside of the trading hours of the
Exchange will be cancelled if it is determined by the Trading Officials
that the transaction occurred outside of the Exchange's trading hours,
except as set forth in Commentary .02 to Amex Rule 1.
    (b) through (e). No Change
Commentary
    .01 through .03 No Change
* * * * *

Rule 936C. Cancellation and Adjustment of Index Option Transactions

    This Rule only governs the cancellation and adjustment of
transactions involving options on indexes, exchange-traded funds (ETFs)
and trust issued receipts (TIRs). Rule 936 governs the cancellation and
adjustment of transactions involving equity options. Paragraphs (a)(1),
(2), (6) and (7) of this Rule have no applicability to trades executed
in open outcry.
(a) Trades Subject to Review
    A member or person associated with a member may have a trade
cancelled or adjusted if, in addition to satisfying the procedural
requirements of paragraph (b) below, one of the following conditions is
satisfied:
    (1) Obvious Price Error. An obvious pricing error will be deemed to
have occurred when the execution price of a transaction is above or
below the fair market value of the option by at least a prescribed
amount. For series trading with normal bid-ask differentials as
established in Rule 958(c), the prescribed amount shall be: (a) the
greater of $0.10 or 10% for options trading under $2.50; (b) 10% for
options trading at or above $2.50 and under $5; or (c) $0.50 for
options trading at $5 or higher. For series trading with bid-ask
differentials that are greater than the widths established in Rule
958(c), the prescribed error amount shall be: (a) the greater of $0.20
or 20% for options trading under $2.50; (b) 20% for options trading at
or above $2.50 and under $5; or (c) $1.00 for options trading at $5 or
higher.
    (i) Definition of Fair Market Value: For purposes of this Rule
only, the [f]Fair [m]Market [v]Value of an option is the midpoint of
the national best bid and national best offer for the series (across
all exchanges trading the option). Fair Market Value will not include
the national best bid price (erroneous sell transaction) or national
best offer price (erroneous buy transaction) of competing options
exchanges if such competing options exchange(s) widen their quote(s) to
incorporate the prior erroneous quote of the Exchange. In such a case,
the Fair Market Value shall be the midpoint of the first quote after
the transaction(s) in question that does not reflect the erroneous
quote. In multiply listed issues, if there are no quotes for comparison
purposes, [f]Fair [m]Market [v]Value shall be determined by Trading
Officials. For singly listed issues, [f]Fair [m]Market [v]Value shall
be the midpoint of the first quote after the transaction(s) in question
that does not reflect the erroneous quote [erroneous transaction(s)].
For transactions occurring as part of an opening, the Fair Market Value
shall also be the midpoint of the first quote after the transaction(s)
in question that does not reflect the erroneous quote [erroneous
transaction(s)].
    (2) No Change.
    (3) Verifiable Disruptions or Malfunctions of Exchange Systems.
Trades arising out of a ``verifiable disruption or malfunction'' in the
use or operation of any Exchange (a) automated quotation,
dissemination, execution, or communication system that caused a quote/
order to trade in excess of its disseminated size (e.g., a quote/order
that is frozen because of an Exchange system error and is repeatedly
traded) in which case trades in excess of the disseminated size may be
nullified; or (b) automated quotation, dissemination or communication
system that prevented a member from updating or canceling a quote/order
for which the member is responsible, provided there is Exchange
documentation reflecting that the member sought to update or cancel the
quote/order. With respect to verifiable disruptions or malfunctions of
the Exchange's automated quotation system, documentation of the
existence of the disruption or malfunction will be sufficient provided
the automated quotation system was programmed to update or cancel a
quote based upon specific changes in the underlying, those changes
occurred and due to the disruption or malfunction the quote was not
updated or cancelled. Unless the parties agree to a price adjustment,
the transaction will be cancelled. [Transactions that qualify for price
adjustment will be adjusted to the Fair Market Value, as defined in
paragraph (a)(1)(i) above.]
    (4) No Change.
    (5) Erroneous Quote in Underlying. (i) A trade resulting from an
erroneous quote in the underlying security may be cancelled or
adjusted. An erroneous quote occurs when the underlying security has a
width of at least $1.00 and has a width at least five times greater
than the average quote width for such underlying security on the
primary market (as defined in Rule 900(b)(26)) during the time period
encompassing two minutes before and after the dissemination of such
quote.
    (ii) Electronic trades resulting from an erroneous quote in the
underlying security may also be adjusted or cancelled as set forth in
paragraph (a)(1)(i) above when (i) a national securities exchange or
the Nasdaq Stock Market, Inc.'s quotes are not firm based upon direct
communication from that market or dissemination of a message indicating
the quotes are not firm or (ii) a national securities exchange or the
Nasdaq Stock Market, Inc. has directly communicated or otherwise
confirmed that it is experiencing systems or other problems affecting
the reliability of its disseminated quotes.
    (6) No Change.
    (7) No Bid Series. Electronic transactions in series quoted no bid
[at a nickel (i.e., $0.05 offer)] will be cancelled provided at least
one strike price below (for calls) or above (for puts) in the same
options class was quoted no bid [at a nickel] at the time of execution.
    (8) Transactions Executed Outside of Trading Hours. All index
options transactions that occur outside of the trading hours of the
Exchange will be cancelled if it is determined by the Trading Officials
that the transaction occurred outside of the Exchange's trading hours,
except as set forth in Commentary .02 to Amex Rule 1.
    (b) through (e). No Change.
Commentary
    .01 through .02. No Change.
* * * * *

Rule 936--ANTE. Cancellation and Adjustment of Equity Options
Transactions
    This Rule governs the nullification and adjustment of transactions
involving equity options. Rule 936C and 936C--ANTE governs the
nullification and adjustment of transactions involving options on
indexes, exchange-traded funds (``ETFs'') and trust issued receipts
(``TIRs''). Paragraphs (a)(1) and (2) of this Rule have no
applicability to trades executed in open outcry. (a) Trades Subject to
Review. A member or person associated with a member may have a trade
cancelled or adjusted if, in addition to satisfying the procedural
requirements of paragraph (b) below, one of the following conditions is
satisfied:
    (1) Obvious Price Error. An obvious pricing error occurs when the
execution price of an electronic transaction is above or below the
Theoretical Price for the series by an amount equal to at least the
amount shown below:

------------------------------------------------------------------------
                                                                Minimum
                      Theoretical price                          amount
------------------------------------------------------------------------
Below $2.....................................................      $0.25
$2 to $5.....................................................       0.40
Above $5 to $10..............................................       0.50
Above $10 to $20.............................................       0.80
Above $20....................................................       1.00
------------------------------------------------------------------------

    Definition of Theoretical Price. For purposes of this Rule only,
the Theoretical Price of an option series is, for series traded on at
least one other options exchange, the last bid price with respect to an
erroneous sell transaction and the last offer price with respect to an
erroneous buy transaction, just prior to the trade, disseminated by the
competing options exchange that has the most liquidity in that option
class in the previous two calendar months. The Theoretical Price will
not include the last bid price (erroneous sell transaction) or last
offer price (erroneous buy transaction) of the competing options
exchange that has the most liquidity in that options class in the
previous two calendar quarters if such competing options exchange
widens its quote to incorporate the prior erroneous quote of the
Exchange. In such a case, the Theoretical Price shall be the last bid
price (erroneous sell transaction) and the last offer price (erroneous
buy transaction) just prior to the trade, disseminated by the competing
options exchange with the next best liquidity. If there are no
competing options exchanges left without an erroneous quote, the
Theoretical Price shall be the first quote of the competing options
exchange, that has the most liquidity in that options class in the
previous two calendar quarters, after the transaction(s) in question
that does not reflect the erroneous quote. If there are no quotes for
comparison, designated Trading Officials will determine the Theoretical
Price. For transactions occurring as part of an opening, the
Theoretical Price shall be the first quote after the transaction(s) in
question that does not reflect the erroneous transaction(s).
    (i) Cancellation or Price Adjustment. Obvious Pricing Errors will
be cancelled or adjusted as follows.
     Transactions Between Amex specialists/registered options
traders (ROTs): Where both parties to the transaction are Amex
specialists/ROTs, the execution price of the transaction will be
adjusted by Trading Officials to the prices provided in Paragraphs (A)
and (B) below, minus (plus) an adjustment penalty (``adjustment
penalty''), unless both parties agree to adjust the transaction to a
different price or agree to cancel the trade within fifteen (15)
minutes of being notified by Trading Officials of the Obvious Error.
    (A) Erroneous buy transactions will be adjusted to their
Theoretical Price plus an adjustment penalty of either $.15 if the
Theoretical Price is under $3 or $.30 if the Theoretical Price is at or
above $3.
    (B) Erroneous sell transactions will be adjusted to their
Theoretical Price minus an adjustment penalty of either $.15 if the
Theoretical Price is under $3 or $.30 if the Theoretical Price is at or
above $3.
     Transactions Involving at least one non-Amex specialist/
ROT: Where one of the parties to the transaction is not an Amex
specialist/ROT, the transactions will be cancelled by Trading Officials
unless both parties agree to an adjustment price for the transaction
within thirty (30) minutes of being notified by Trading Officials of
the Obvious Error.
    (2) No Bid Series. Electronic transactions in series quoted no bid
[at a nickel (i.e., $0.05 offer)] will be cancelled provided at least
one strike price below (for calls) or above (for puts) in the same
options class was quoted no bid [at a nickel] at the time of execution.
    (3) Verifiable Disruptions or Malfunctions of Exchange Systems:
Electronic or open outcry transactions arising out of a ``verifiable
disruption or malfunction'' in the use or operation of any Exchange (a)
automated quotation, dissemination, execution, or communication system
that caused a quote/order to trade in excess of its disseminated size
(e.g., a quote/order that is frozen because of an Exchange system error
and is repeatedly traded) in which case trades in excess of the
disseminated size may be nullified; or (b) automated quotation,
dissemination or communication system that prevented a member from
updating or canceling a quote/order for which the member is
responsible, provided there is Exchange documentation reflecting that
the member sought to update or cancel the quote/order. With respect to
verifiable disruptions or malfunctions of the Exchange's automated
quotation system, documentation of the existence of the disruption or
malfunction will be sufficient provided the automated quotation system
was programmed to update or cancel a quote based upon specific changes
in the underlying, those changes occurred and due to the disruption or
malfunction the quote was not updated or cancelled. Unless the parties
agree to a price adjustment, the transaction will be cancelled.
[Transactions that qualify for price adjustment will be adjusted to the
Theoretical Price, as defined in paragraph (a)(1) above.]
    (4) No Change.
    (5) Erroneous Quote in Underlying. (i) Electronic trades (this
provision does not apply to trades executed in open outcry) resulting
from an erroneous quote in the underlying security may be adjusted or
canceled as set forth in paragraph (a)(1) above. An erroneous quote
occurs when the underlying security has a width of at least $1.00 and
has a width at least five times greater than the average quote width
for such underlying security on the primary market (as defined in Rule
900 (b)(26)) during the time period encompassing two minutes before and
after the dissemination of such quote. For purposes of this Rule, the
average quote width shall be determined by adding the quote widths of
each separate quote during the four minute time period referenced above
(excluding the quote in question) and dividing the number of quotes
during such time period (excluding the quote in question).
    (ii) Electronic trades resulting from an erroneous quote in the
underlying security may also be adjusted or canceled as set forth in
paragraph (a)(1)(i) above when (i) a national securities exchange or
the Nasdaq Stock Market, Inc.'s quotes are not firm based upon direct
communication from that market or dissemination of a message indicating
the quotes are not firm or (ii) a national securities exchange or the
Nasdaq Stock Market, Inc. has directly communicated or otherwise
confirmed that it is experiencing systems or other problems affecting
the reliability of its disseminated quotes.

    (6) Transactions Executed Outside of Trading Hours. All equity
options transactions that occur outside of the trading hours of the
Exchange will be canceled if it is determined by the Trading Officials
that the transaction occurred outside of the Exchange's trading hours,
except as set forth in Commentary .02 to Amex Rule 1.
    (b) through (e). No Change.
Commentary
    .01 through .03. No Change.
* * * * *

Rule 936C--ANTE. Cancellation and Adjustment of Index Option
Transactions

    This Rule only governs the cancellation and adjustment of
transactions involving options on indexes, exchange-traded funds (ETFs)
and trust issued receipts (TIRs). Rule 936 and 936--ANTE governs the
cancellation and adjustment of transactions involving equity options.
Paragraphs (a)(1), (2), (6) and (7) of this Rule have no applicability
to trades executed in open outcry.
(a) Trades Subject to Review
    A member or person associated with a member may have a trade
cancelled or adjusted if, in addition to satisfying the procedural
requirements of paragraph (b) below, one of the following conditions is
satisfied:
    (1) Obvious Price Error. An obvious pricing error will be deemed to
have occurred when the execution price of a transaction is above or
below the fair market value of the option by at least a prescribed
amount. For series trading with normal bid-ask differentials as
established in Rule 958(c), the prescribed amount shall be: (a) the
greater of $0.10 or 10% for options trading under $2.50; (b) 10% for
options trading at or above $2.50 and under $5; or (c) $0.50 for
options trading at $5 or higher. For series trading with bid-ask
differentials that are greater than the widths established in Rule
958(c), the prescribed error amount shall be: (a) the greater of $0.20
or 20% for options trading under $2.50; (b) 20% for options trading at
or above $2.50 and under $5; or (c) $1.00 for options trading at $5 or
higher.
    (i) Definition of Fair Market Value: For purposes of this Rule
only, the [f]Fair [m]Market [v]Value of an option is the midpoint of
the national best bid and national best offer for the series (across
all exchanges trading the option). Fair Market Value will not include
the national best bid price (erroneous sell transaction) or national
best offer price (erroneous buy transaction) of competing options
exchange(s) if such competing options exchanges widen their quote(s) to
incorporate the prior erroneous quote of the Exchange. In such a case,
the Fair Market Value shall be the midpoint of the first quote after
the transaction(s) in question that does not reflect the erroneous
quote. In multiple listed issues, if there are no quotes for comparison
purposes, [f]Fair [m]Market [v]Value shall be determined by Trading
Officials. For singly-listed issues, [f]Fair [m]Market [v]Value shall
be the midpoint of the first quote after the transaction(s) in question
that does not reflect the erroneous quote [erroneous transaction(s)].
For transactions occurring as part of an opening, the Fair Market Value
shall also be the midpoint of the first quote after the transaction(s)
in question that does not reflect the erroneous quote [erroneous
transaction(s)].
    (2) No Change.
    (3) Verifiable Disruptions or Malfunctions of Exchange Systems.
Trades arising out of a ``verifiable disruption or malfunction'' in the
use or operation of any Exchange (a) automated quotation,
dissemination, execution, or communication system that caused a quote/
order to trade in excess of its disseminated size (e.g., a quote/order
that is frozen because of an Exchange system error and is repeatedly
traded) in which case trades in excess of the disseminated size may be
nullified; or (b) automated quotation, dissemination or communication
system that prevented a member from updating or canceling a quote/order
for which the member is responsible, provided there is Exchange
documentation reflecting that the member sought to update or cancel the
quote/order. With respect to verifiable disruptions or malfunctions of
the Exchange's automated quotation system, documentation of the
existence of the disruption or malfunction will be sufficient provided
the automated quotation system was programmed to update or cancel a
quote based upon specific changes in the underlying, those changes
occurred and due to the disruption or malfunction the quote was not
updated or canceled. Unless the parties agree to a price adjustment,
the transaction will be canceled. [Transactions that qualify for price
adjustment will be adjusted to the Fair Market Value, as defined in
paragraph (a)(1)(i) above.]
    (4) No Change.
    (5) Erroneous Quote in Underlying. (i) A trade resulting from an
erroneous quote in the underlying security may be canceled or adjusted.
An erroneous quote occurs when the underlying security has a width of
at least $1.00 and has a width at least five times greater than the
average quote width for such underlying security on the primary market
(as defined in Rule 900(b)(26)) during the time period encompassing two
minutes before and after the dissemination of such quote.
    (ii) Electronic trades resulting from an erroneous quote in the
underlying security may also be adjusted or canceled as set forth in
paragraph (a)(1)(i) above when (i) a national securities exchange or
the Nasdaq Stock Market, Inc.'s quotes are not firm based upon direct
communication from that market or dissemination of a message indicating
the quotes are not firm or (ii) a national securities exchange or the
Nasdaq Stock Market, Inc. has directly communicated or otherwise
confirmed that it is experiencing systems or other problems affecting
the reliability of its disseminated quotes.
    (6) No Change.
    (7) No Bid Series. Electronic transactions in series quoted no bid
[at a nickel (i.e., $0.05 offer)] will be cancelled provided at least
one strike price below (for calls) or above (for puts) in the same
options class was quoted no bid [at a nickel] at the time of execution.
    (8) Transactions Executed Outside of Trading Hours. All index
options transactions that occur outside of the trading hours of the
Exchange will be cancelled if it is determined by the Trading Officials
that the transaction occurred outside of the Exchange's trading hours,
except as set forth in Commentary .02 to Amex Rule 1.
    (b) through (e). No Change
Commentary
    .01 through .02. No Change.
* * * * *

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

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

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

1. Purpose
    The Exchange's equity option obvious error rules, Amex Rules 936
and 936--ANTE, and index option obvious error rules, Amex Rules 936C
and 936C--ANTE (the ``Obvious Error Rules'') establish guidelines for
the adjustment and cancellation of transactions in equity and index
options. The purpose of this proposed rule change is to (i) amend the
definition of ``Theoretical Price'' \6\ and ``Fair Market Value'' \7\
in connection with determining whether an equity or index option
obvious price error has occurred as established in Amex Rules 936(a)(1)
and 936(a)(1)--ANTE (equity), and Amex Rules 936C(a)(1) and
936C(a)(1)--ANTE (index), respectively; (ii) amend Amex Rules
936C(a)(1)(i) and 936C(a)(1)(i)--ANTE to clarify how Fair Market Value
is determined in connection with single-listed index options and
opening transactions; (iii) amend the Obvious Error Rules relating to
erroneous quote(s) in the underlying security to permit the
cancellation/adjustment of an option transaction when an exchange
declares its quotes non-firm or otherwise communicates to the Amex that
its quotes are unreliable; (iv) add an additional type of qualifying
transaction entitled ``Transactions Executed Outside of Trading
Hours''; (v) amend how obvious price errors based on ``verifiable
disruptions or malfunctions of Exchange systems'' are adjusted or
cancelled; and (vi) revise the Obvious Error Rules to amend the terms
of cancellations for ``no bid series.''
---------------------------------------------------------------------------

    \6\ ``Theoretical Price'' of an option series is, for series
traded on at least one other options exchange, the last bid price
with respect to an erroneous sell transaction and the last offer
price with respect to an erroneous buy transaction, just prior to
the trade, disseminated by the competing options exchange that has
the most liquidity in that option class in the previous two calendar
months. If there are no quotes for comparison, designated Trading
Officials will determine the Theoretical Price. For transactions
occurring as part of an opening, the Theoretical Price shall be the
first quote after the transaction(s) in question that does not
reflect the erroneous transaction(s).
    \7\ ``Fair Market Value'' of an option is the midpoint of the
national best bid and national best offer for the series (across all
exchanges trading the option). In multiply listed issues, if there
are no quotes for comparison purposes, Fair Market Value shall be
determined by Trading Officials. For singly-listed issues, Fair
Market Value shall be the first quote after the transaction(s) in
question that does not reflect the erroneous transaction(s). For
transactions occurring as part of an opening, the Fair Market Value
shall also be the first quote after the transaction(s) in question
that does not reflect the erroneous transaction(s).
---------------------------------------------------------------------------

Obvious Price Error

    Under the Obvious Error Rules, an obvious price error is one of
several enumerated types of transactions that qualify as an obvious
error and are accordingly subject to adjustment or cancellation.

Equity Options

    Amex Rules 936(a)(1) and 936(a)(1)--ANTE provide that an obvious
pricing error will be deemed to have occurred when the execution price
of an electronic transaction (not open outcry) varies from the
Theoretical Price by a requisite amount.\8\ For multiply-traded
options, the Theoretical Price is the last bid (offer) price with
respect to an erroneous sell (buy) transaction just prior to the trade
that is disseminated by the competing options exchange with the most
liquidity in that class over the preceding two (2) calendar months. If
there are no quotes for comparison purposes, then trading officials
will determine the Theoretical Price. For transactions occurring as
part of an opening, the Theoretical Price is the first quote after the
transaction(s) in question that does not reflect the erroneous
transaction(s). When an obvious price error occurs, the Amex either
will adjust or cancel the transaction pursuant to Amex Rules
936(a)(1)(i) and 936(a)(1)(i)--ANTE.
---------------------------------------------------------------------------

    \8\ The requisite amount is: $0.25 for options below $2; $0.40
for options priced from $2 to $5; $0.50 for options priced above $5
to $10; $0.80 for options priced above $10 to $20; and $1.00 for
options priced above $20.
---------------------------------------------------------------------------

Index Options

    Amex Rules 936C(a)(1) and 936C(a)(1)--ANTE provide that an obvious
pricing error will be deemed to have occurred when the execution price
of an electronic transaction (not open outcry) varies from the Fair
Market Value by a prescribed amount.\9\ For multiply-traded options,
the Fair Market Value is the midpoint of the national best bid for
erroneous sell transactions or national best offer for erroneous buy
transactions. If there are no quotes for comparison purposes, then
trading officials will determine the Fair Market Value. For both
single-listed options and transactions occurring as part of an opening,
Fair Market Value is the midpoint of the first quote after the
transaction(s) in question that does not reflect the erroneous
transaction(s). The Exchange proposes to revise the rule text
accordingly to clarify that the Fair Market Value is the midpoint of
the first non-erroneous quote. When an obvious price error occurs, the
Amex either will adjust or cancel the transaction pursuant to Amex
Rules 936C(c) and 936C(c)--ANTE.
---------------------------------------------------------------------------

    \9\ For index options series trading with normal bid-ask
differentials as established in Rule 958(c), the prescribed amount
shall be: (a) The greater of $0.10 or 10% for index options trading
under $2.50; (b) 10% for index options trading at or above $2.50 and
under $5; or (c) $0.50 for index options trading at $5 or higher.
For index options series trading with bid-ask differentials that are
greater than the widths established in Rule 958(c), the prescribed
error amount shall be: (a) The greater of $0.20 or 20% for index
options trading under $2.50; (b) 20% for index options trading at or
above $2.50 and under $5; or (c) $1.00 for index options trading at
$5 or higher.
---------------------------------------------------------------------------

    Since the implementation of the Obvious Error Rules, there have
occasionally been options transactions effected on the Exchange that
were executed at prices that appeared to be ``obvious price errors''
but could not be cancelled or adjusted under existing rules. For
example, in connection with an equity option, following dissemination
of an erroneous quotation by the Amex, the competing options exchange
with the most liquidity in the option class in question during the
previous two (2) calendar months widened its quote to incorporate the
Amex quote. As a result, although the price of the Amex transaction was
``erroneous'' (i.e. based on an erroneous quote), it was not
``erroneous'' pursuant to Amex Rules 936 and 936--ANTE in that the
Theoretical Price was based on the ``widened quotes'' disseminated by
the competing options exchanges. As a result, the Exchange believes
that an amendment to the definition of Theoretical Price (and Fair
Market Value for index options) is appropriate so that the bids and
offers of an options exchange experiencing obvious price errors or
erroneous quotes are not indirectly used as the basis for the
Theoretical Price (and Fair Market Value). The Exchange believes that
the use of quotes that are deemed to be ``erroneous'' as a basis for
the Theoretical Price (equity) and Fair Market Value (indexes) is not
proper and is inconsistent with the role and purpose of the Obvious
Error Rules.

Widened Quotes

    The proposal is intended to correct circumstances in the Obvious
Error Rules where the Amex posts an erroneous quote and subsequently a
competing options exchange, in direct response to the erroneous quote,
widens its quote to incorporate the prior erroneous quote of the Amex.
For example, the current market for an option is established by the
Chicago Board Options Exchange, Inc. (``CBOE'') to be 1.65 bid/1.90
offer. The Amex then quotes 0 bid/.25 offer for the option. The CBOE
immediately posts a market to incorporate the Amex quote such as .20

bid/1.90 offer. An order to buy is then executed on the Amex at the
offer price of $0.25. The Amex then corrects the quote to 1.65 bid/1.90
offer with the CBOE following suit at 1.65 bid/1.90 offer. The Exchange
believes for purposes of determining Theoretical Price in connection
with the equity options (Amex Rules 936(a)(1) and 936(a)(1)--ANTE) and
Fair Market Value in connection with index options (Amex Rules
936C(a)(1) and 936C(a)(1)--ANTE) that erroneous quotes of a competing
options exchange that incorporated an erroneous Amex quote (in this
example, .20 bid/1.90 offer) should not be used.
    The Exchange proposes a revision to its equity option obvious price
error rules, Amex Rules 936(a)(1) and 936(a)(1)--ANTE, providing that
in determining the Theoretical Price of an option the last bid
(erroneous sell transaction) or last offer (erroneous buy transaction)
of the competing options exchange with the most liquidity in that
option class over the previous two calendar quarters will be excluded
if such competing options exchange widens its quote to incorporate the
prior erroneous quote of the Amex. As a result, the Exchange proposes
that the Theoretical Price, under these circumstances, would be the
last bid price (erroneous sell transaction) and the last offer price
(erroneous buy transaction) just prior to the trade, disseminated by
the competing options exchange with the next best liquidity. If there
are no competing options exchanges left without an erroneous quote, the
Theoretical Price would be the first quote of the competing options
exchange that has the most liquidity in such option class over the
previous two (2) calendar quarters after the transaction(s) in question
that does not reflect the erroneous quote.
    In connection with the index option obvious price error rules, the
Exchange proposes that Fair Market Value will not include the national
best bid price (erroneous sell transaction) or national best offer
price (erroneous buy transaction) of a competing options exchange if
such exchange widens its quotes to incorporate the prior erroneous
quote of the Exchange. Accordingly, the Fair Market Value will be the
midpoint of the first quote after the transaction(s) in question that
does not reflect the erroneous quote.

Erroneous Quote in Underlying Security

    As set forth in the Obvious Error Rules, a trade resulting from an
erroneous quote in the underlying security may be adjusted or
cancelled. However, pursuant to these Rules, a quote from an exchange
in an underlying security that is declared ``erroneous'' by that
exchange may not qualify for cancellation or adjustment.\10\ Therefore,
the Exchange proposes to amend Amex Rules 936(a)(5), 936(a)(5)--ANTE,
936C(a)(5) and 936C(a)(5)--ANTE so that when an exchange for an
underlying security or Nasdaq if the underlying security trades on
Nasdaq declares its quote(s) ``non-firm'' or when an exchange or Nasdaq
communicates to the Amex that it is experiencing systems or other
problems affecting the reliability of its disseminated quotes, a trade
resulting from such ``erroneous'' underlying quote could be cancelled
or adjusted. In order for a trade to be cancelled or adjusted, the
Exchange would have to have proper documentation of that market's non-
firm declaration or notification of unreliable quotes, as applicable.
---------------------------------------------------------------------------

    \10\ The Obvious Error Rules define an erroneous quote as a
quote that occurs when the underlying security has a width of at
least $1.00 and a width at least five times greater than the average
quote width for such underlying security on the primary market (as
defined in Amex Rule 900(b)(26) and Rule 900(b)(26)--ANTE) during
the time period encompassing two minutes before and after the
dissemination of such quote. The average quote width is determined
by adding the quote widths of each separate quote during the four
minute time period referenced above (excluding the quote in
question) and dividing the number of quotes during such time period
(excluding the quote in question).
---------------------------------------------------------------------------

Transactions Executed Outside of Trading Hours

    The Exchange further proposes that any equity options or index
options transaction that occurs outside normal trading hours
(currently, 9:30 a.m. until 4:02 p.m. Eastern time (``ET'') for equity
options and 9:30 a.m. until 4:15 p.m. ET for broad-based index options
and options on select Exchange-Traded Fund Shares) would be cancelled
if the Trading Officials determine that the transaction took place
outside of Amex trading hours, except as set forth in Commentary .02 to
Amex Rule 1.
    Amex Rule 1 sets forth the hours of business at the Exchange.
Commentary .02 to Rule 1 provides that no option series may freely
trade after 4:02 p.m. ET except that broad stock index group options
and options on select Exchange-Traded Fund Shares shall freely trade
until 4:15 p.m. ET each business day. Three (3) exceptions to the
general rule are provided in Commentary .02 so that a trading rotation
in any class of options may be effected even though the transaction
will occur after 4:02 p.m. as follows: (i) Trading in the underlying
security opens or re-opens after 3:30 p.m. ET; (ii) such rotation was
initiated due to unusual market conditions pursuant to Rule 918 and
notice of such rotation is publicly disseminated no later than the
commencement of the rotation or 4:00 p.m. whichever is earlier or
notice of such rotation is publicly disseminated after 4:00 p.m. and
the rotation does not commence until five (5) minutes after news of
such rotation is publicly disseminated; or (iii) for option classes
trading on ANTE, an automated trading rotation is held at the close of
trading as soon as practicable after 4:02 p.m. ET. Accordingly, equity
options and index options transactions would be cancelled if the
Trading Officials determine that the transaction occurred outside of
the Amex trading hours.

Verifiable Disruptions or Malfunctions of Exchange Systems

    In connection with transactions arising out of ``verifiable
disruptions or malfunctions of Exchange systems,'' the Obvious Error
Rules provide that those transactions that qualify for price adjustment
will be adjusted to the Theoretical Price for equity options or Fair
Market Value for index options. The Exchange submits that unintended
results may occur due to the manner in which price adjustments are
handled during these circumstances. Accordingly, the Exchange proposes
that unless the parties agree to a price adjustment, the transaction
would be cancelled. This new standard would replace the current price
adjustment to the Theoretical Price for equity options or Fair Market
Value for index options and clarify that the transaction will be
cancelled if a price adjustment is not agreed to.
    An example of such unintended consequences is set forth below. The
current market for a particular equity call option is established by
the Amex at 1.15 bid/1.30 offer. The underlying security subsequently
increases in price. The other options exchanges (excluding the Amex)
change their quote so that the market is now 1.20 bid/1.35 offer. The
Amex due to a systems problem does not change its quote and remains at
1.15 bid/1.30 offer. The underlying security continues to increase in
price. The other options exchanges now post a market of 1.25 bid/1.40
offer. The Amex remains at 1.15 bid/1.30 offer. An order to buy is
executed on the Amex at 1.30. As defined by the current Rule, the
Theoretical Price for this option is 1.25 so that in adjusting the
price the specialist would be disadvantaged by the adjustment to 1.25
compared to the selling price of 1.30 (when the market was actually
1.40). Under the proposal,

unless the parties agreed to an adjustment, the transaction would be
cancelled.

No Bid Series

    Under the current Obvious Error Rules ``no bid provisions,''
electronic transactions in option series quoted no bid at a nickel
(i.e. $0.05 offer) will be cancelled provided at least one strike price
below (for calls) or above (for puts) in the same options class was
quoted no bid at a nickel at the time of execution. A ``no bid'' option
refers to an option where the bid price is $0.00.\11\ Series of options
quoted no bid are typically deep out-of-the-money series that are
perceived as having little if any chance of expiring in-the-money. For
this reason, relatively few transactions occur in these series and
those that do are usually the result of a momentary pricing error. In
some cases, the pricing error is substantial enough such that the other
provisions in the equity and index options obvious error rules become
applicable. However, in many cases, the no bid provisions are the only
provisions that would apply to the pricing error.
---------------------------------------------------------------------------

    \11\ When the bid price is $0.00, the offer price is typically
$0.05. In this instance, the option typically is referred to as ``no
bid at a nickel.''
---------------------------------------------------------------------------

    The proposal seeks to revise the no bid provision in the Obvious
Error Rules that provide that the option series must be quoted no bid
at a nickel and instead only require that the option series be quoted
no bid. The reason for this change is that options that are priced at
no bid, regardless of the offer, are typically deep out-of-the-money
series that are perceived as having little if any chance of expiring
in-the-money. This is especially the case when the series below (for
calls) or above (for puts) in the same option class similar is quoted
no bid. In this regard, the offer price is irrelevant. Therefore,
transactions in series that are quoted no bid at a dime, for example,
are just as likely to be the result of an obvious error as are
transactions in series that are quoted no bid at a nickel when the
series below (for calls) or above (for puts) in the same option class
similarly is quoted no bid.
2. Statutory Basis
    The Amex represents that the filing provides objective guidelines
for the nullification or adjustment of transactions executed at clearly
erroneous prices. Moreover, the proposed rule provides uniformity
regarding obvious pricing errors, which will serve to benefit
customers. For these reasons, the Exchange believes the proposal is
consistent with Section 6(b) of the Act \12\, in general, and furthers
the objectives of Section 6(b)(5) of the Act,\13\ in particular, in
that it is designed to prevent fraudulent and manipulative acts and
practices, to promote just and equitable principles of trade, and, in
general, to protect investors and the public interest.
---------------------------------------------------------------------------

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

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

    The Exchange believes the proposed rule change will impose no
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 solicited or received by the Exchange on
this proposal.

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

    Within 35 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding, or (ii) as to
which the Exchange consents, the Commission will:
    (A) By order approve the proposed rule change or
    (B) Institute proceedings to determine whether the proposed rule
change should be disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml.
); or     Send an e-mail to<EMAIL_ADDRESS>Please include

File Number SR-Amex-2005-060 on the subject line.

Paper Comments

     Send paper comments in triplicate to Jonathan G. Katz,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-9303.
    All submissions should refer to File Number SR-Amex-2005-060. 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 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-Amex-2005-060 and should be submitted on or before
November 29, 2005.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------

    \14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Jonathan G. Katz,
Secretary.
[FR Doc. 05-22164 Filed 11-7-05; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 84, Number 51 (Friday, March 15, 2019)]
[Notices]
[Page 9586]
[FR Doc No: 2019-04788]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Notice of Intent To Rule on Request To Release Airport Property
at Yellowstone Regional Airport, Cody, WY

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of request to release airport property.

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

SUMMARY: The FAA proposes to rule and invite public comment on the
release of land at Yellowstone Regional Airport under the provisions of
Section 125 of the Wendell H. Ford Aviation Investment Reform Act for
the 21st Century (AIR 21).

DATES: Comments must be received on or before April 15, 2019.

ADDRESSES: Comments on this application may be mailed or delivered to
the FAA at the following address: Mr. John P. Bauer, Manager, Federal
Aviation Administration, Northwest Mountain Region, Airports Division,
Denver Airports District Office, 26805 E. 68th Avenue, Suite 224,
Denver, CO 80249-6361.
    In addition, one copy of any comments submitted to the FAA must be
mailed or delivered to Mr. Bob Hooper, Airport Manager, Yellowstone
Regional Airport, Cody, WY, at the following address: Mr. Bob Hooper,
Airport Manager, Yellowstone Regional Airport, P.O. Box 2748, Cody, WY
82414.

FOR FURTHER INFORMATION CONTACT: Mr. Jesse Lyman, Utah State Engineer,
Federal Aviation Administration, Northwest Mountain Region, Denver
Airports District Office, 26805 E. 68th Avenue, Suite 224, Denver, CO
80249-6361.
    The request to release property may be reviewed, by appointment, in
person at this same location.

SUPPLEMENTARY INFORMATION: The FAA invites public comment on the
request to release property at Yellowstone Regional Airport under the
provisions of the AIR 21 (49 U.S.C. 47107(h)(2)).
    On March 5, 2019, the FAA determined that the request to release
property at Yellowstone Regional Airport submitted by the Yellowstone
Regional Airport meets the procedural requirements of the FAA. The FAA
may approve the request, in whole or in part, no later than April 15,
2019.
    The following is a brief overview of the request:
    The City of Cody, WY, and the Yellowstone Regional Airport are
proposing the release from the terms, conditions, reservations, and
restrictions on a 2.47 acre parcel of property acquired by the City of
Cody on July 2, 1958, from the Bureau of Land Management. The parcel
proposed for release is adjacent to a parcel that was previously
released and will accommodate a new animal shelter or expansion of the
existing shelter. The parcel is located on the southeast corner of the
airport and is far removed from any present or foreseeable aviation
development. It is no longer needed for aviation purposes. The property
will be sold at fair market value and the funds received will be
reinvested in the operation and maintenance of the airport.
    Any person may inspect, by appointment, the request in person at
the FAA office listed above under FOR FURTHER INFORMATION CONTACT.
    In addition, any person may, upon appointment and request, inspect
the application, notice and other documents germane to the application
in person at the Yellowstone Regional Airport.

    Issued in Denver, Colorado on March 5, 2019.
John P. Bauer,
Manager, Denver Airports District Office.
[FR Doc. 2019-04788 Filed 3-14-19; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 84, Number 160 (Monday, August 19, 2019)]
[Notices]
[Pages 42931-42934]
[FR Doc No: 2019-17734]

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

DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2013-N-0134]

Agency Information Collection Activities; Submission for Office
of Management and Budget Review; Comment Request; Mammography Quality
Standards Act Requirements

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration (FDA) is announcing that a
proposed collection of information has been submitted to the Office of
Management and Budget (OMB) for review and clearance under the
Paperwork Reduction Act of 1995.

DATES: Fax written comments on the collection of information by
September 18, 2019.

ADDRESSES: To ensure that comments on the information collection are
received, OMB recommends that written comments be faxed to the Office
of Information and Regulatory Affairs, OMB, Attn: FDA Desk Officer,
Fax:<PHONE_NUMBER>, or emailed to<EMAIL_ADDRESS>All
comments should be identified with the OMB control number 0910-0309.
Also include the FDA docket number found in brackets in the heading of
this document.

FOR FURTHER INFORMATION CONTACT: Amber Sanford, Office of Operations,
Food and Drug Administration, Three White Flint North, 10A-12M, 11601
Landsdown St., North Bethesda, MD 20852,<PHONE_NUMBER>,
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: In compliance with 44 U.S.C. 3507, FDA has
submitted the following proposed collection of information to OMB for
review and clearance.

Mammography Quality Standards Act Requirements--21 CFR Part 900

OMB Control Number 0910-0309--Extension

    The Mammography Quality Standards Act (Pub. L. 102-539) requires
the establishment of a Federal certification and inspection program for
mammography facilities; regulations and standards for accreditation and
certification bodies for mammography facilities; and standards for
mammography equipment, personnel, and practices, including quality
assurance. The intent of these regulations is to assure safe, reliable,
and accurate mammography on a nationwide level. Under the regulations,
as a first step in becoming certified, mammography facilities must
become accredited by an FDA-approved accreditation body (AB). This
requires undergoing a review of their clinical images and providing the
AB with information showing that they meet the equipment, personnel,
quality assurance, and quality control standards, and have a medical
reporting and recordkeeping program, a medical outcomes audit program,
and a consumer complaint mechanism. On the basis of this accreditation,
facilities are then certified by FDA or an FDA-approved State
certification agency and must prominently display their certificate.
These actions are taken to ensure safe, accurate, and reliable
mammography on a nationwide basis.
    The following sections of Title 21 of the Code of Federal
Regulations (CFR) are not included in the burden tables because they
are considered usual and customary practice and were part of the
standard of care prior to the implementation of the regulations;
therefore, they resulted in no additional burden: 21 CFR 900.12(c)(1)
and (3) and 900.3(f)(1). 21 CFR 900.24(c) was also not included in the
burden tables because if a certifying State had its approval withdrawn,
FDA would take

over certifying authority for the affected facilities. Because FDA
already has all the certifying State's electronic records, there
wouldn't be an additional reporting burden.
    We have rounded numbers in the ``Total Hours'' column in all three
burden tables. (Where the number was a portion of 1 hour, it has been
rounded to 1 hour. All other ``Total Hours'' have been rounded to the
nearest whole number.)
    In the Federal Register of May 1, 2019 (84 FR 18548), FDA published
a 60-day notice requesting public comment on the proposed collection of
information. We received one comment that expressed general concern
regarding the cost and quality of mammography equipment. However, the
comment did not refer to any particular provision of the regulations or
the information collection burden estimate. We note that in the Federal
Register of March 28, 2019 (84 FR 11669), FDA published a proposed rule
to update the mammography regulations. As part of the proposed rule,
FDA prepared a Preliminary Economic Analysis of Impacts. Comments
received on the proposed rule are currently being considered.
    FDA meets with its National Mammography Quality Assurance Advisory
Committee (NMQAAC) annually. NMQAAC is made up of representatives of
the mammography community, consumer and industry groups, and
government. It is charged with advising FDA's mammography program on
advances in mammography technology and procedures and on appropriate
quality standards for mammography facilities. NMQAAC also discusses and
comments on all guidances before they are made final. The meetings are
open to the public and time is allotted for public statements on issues
of concern in the mammography field. The chairperson may also call upon
attendees to contribute to the committee discussions.
    FDA also meets or holds teleconferences several times a year with
its approved accreditation bodies and State certification agencies to
discuss issues of mutual concern. The Agency has also long enjoyed a
good relationship with the Conference of State Radiation Program
Directors (CRCPD), which is the professional organization of the State
agencies concerned with radiation protection. The CRCPD has established
a standing Mammography Committee, which meets with FDA mammography
staff at least once a year.
    Finally, in recent years, FDA mammography staff have met several
times with representatives of manufacturers working on the new
applications of digital technology in mammography to resolve problems
preventing the making of that technology generally available. FDA
mammography staff have also worked with representatives of the
manufacturers to develop quality assurance manuals for full field
digital mammography units.
    FDA estimates the burden of this collection of information as
follows:

                                               Table 3--Estimated Annual Third-Party Disclosure Burden \1\
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                Total
 Activity/21 CFR section/FDA     Number of       Number of      Total annual      Average burden  per      Total hours   Total  capital   operating and
          Form No.              respondents    responses per      responses            response                \1\            costs        maintenance
                                                 respondent                                                                                costs
--------------------------------------------------------------------------------------------------------------------------------------------------------
Notification of intent to               0.33                1            0.33  1.......................               1  ..............  ...............
 become an AB--900.3(b)(1).
Application for approval as             0.33                1            0.33  320.....................             106         $10,776  ...............
 an AB; full \2\--
 900.3(b)(3).
Application for approval as                5                1               5  30......................             150  ..............  ...............
 an AB; limited \3\--
 900.3(b)(3).
AB renewal of approval--                   1                1               1  15......................              15  ..............  ...............
 900.3(c).
AB application deficiencies--            0.1                1             0.1  30......................               3  ..............  ...............
 900.3(d)(2).
AB resubmission of denied                0.1                1             0.1  30......................               3  ..............  ...............
 applications--900.3(d)(5).
Letter of intent to                      0.1                1             0.1  1.......................               1  ..............  ...............
 relinquish accreditation
 authority--900.3(e).
Summary report describing                330                1             330  7.......................           2,310  ..............          $83,618
 all facility assessments--
 900.4(f).
AB reporting to FDA;                   8,654                1           8,654  1.......................           8,654  ..............            4,663
 facility \4\--900.4(h).
AB reporting to FDA; AB \5\--              5                1               5  10......................              50  ..............  ...............
 900.4(h).
AB financial records--                     1                1               1  16......................              16  ..............  ...............
 900.4(i)(2).
Former AB new application--              0.1                1             0.1  60......................               6  ..............  ...............
 900.6(c)(1).
Reconsideration of                         1                1               1  2.......................               2  ..............  ...............
 accreditation following
 appeal--900.15(d)(3)(ii).
Application for alternative                2                1               2  2.......................               4  ..............  ...............
 standard--900.18(c).
Alternative standard                      10                1              10  1.......................              10  ..............  ...............
 amendment--900.18(e).
Certification agency                    0.33                1            0.33  320.....................             106          32,327              224
 application--900.21(b).
Certification agency                     0.1                1             0.1  30......................               3  ..............  ...............
 application deficiencies--
 900.21(c)(2).
Certification electronic                   5              200           1,000  0.083 (5 minutes).......              83  ..............  ...............
 data transmission--
 900.22(h).
Changes to standards--                     2                1               2  30......................              60  ..............               22
 900.22(i).
Certification agency minor                 1                1               1  30......................              30  ..............  ...............
 deficiencies--900.24(b).
Appeal of adverse action                 0.2                1             0.2  16......................               3  ..............  ...............
 taken by FDA--900.25(a).
Inspection fee exemption--               700                1             700  0.25 (15 minutes).......             175  ..............  ...............
 Form FDA 3422.
                             ---------------------------------------------------------------------------------------------------------------------------

    Total...................  ..............  ...............  ..............  ........................          11,791          43,103           88,527
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Total hours have been rounded.
\2\ One-time burden.
\3\ Refers to accreditation bodies applying to accredit specific full-field digital mammography units.
\4\ Refers to the facility component of the burden for this requirement.
\5\ Refers to the AB component of the burden for this requirement.

                                                     Table 2--Estimated Annual Recordkeeping Burden
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                Total
                                  Number of       Number of     Total annual      Average burden  per      Total hours   Total  capital   operating and
   Activity/21 CFR section      recordkeepers    records per       records           recordkeeping             \1\            costs        maintenance
                                                recordkeeper                                                                                costs
--------------------------------------------------------------------------------------------------------------------------------------------------------
AB transfer of facility                   0.1               1             0.1  0.......................               1  ..............  ...............
 records--900.3(f)(1).
Consumer complaints system;                 5               1               5  1.......................               5  ..............  ...............
 AB--900.4(g).
Documentation of interpreting              87               1              87  8.......................             696  ..............  ...............
 physician initial
 requirements--900.12(a)(1)(i
 )(B)(2).
Documentation of interpreting           8,654               4          34,616  1.......................          34,616  ..............  ...............
 physician personnel
 requirements--900.12(a)(4).
Permanent medical record--              8,654               1           8,654  1.......................           8,654         $30,171  ...............
 900.12(c)(4).
Procedures for cleaning                 8,654              52         450,008  0.083 (5 minutes).......          37,351  ..............  ...............
 equipment--900.12(e)(13).
Audit program--900.12(f).....           8,654               1           8,654  16......................         138,464  ..............  ...............
Consumer complaints system;             8,654               2          17,308  1.......................          17,308  ..............  ...............
 facility--900.12(h)(2).
Certification agency conflict               5               1               5  1.......................               5  ..............  ...............
 of interest--900.22(a).
Processes for suspension and                5               1               5  1.......................               5  ..............  ...............
 revocation of certificates--
 900.22(d).
Processes for appeals--                     5               1               5  1.......................               5  ..............  ...............
 900.22(e).
Processes for additional                    5               1               5  1.......................               5  ..............  ...............
 mammography review--
 900.22(f).
Processes for patient                       3               1               3  1.......................               3  ..............              $32
 notifications--900.22(g).
Evaluation of certification                 5               1               5  20......................             100  ..............  ...............
 agency--900.23.
Appeals--900.25(b)...........               5               1               5  1.......................               5  ..............  ...............
                              --------------------------------------------------------------------------------------------------------------------------
    Total....................  ..............  ..............  ..............  ........................         237,223          30,171               32
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Total hours have been rounded.

                                               Table 3--Estimated Annual Third-Party Disclosure Burden \1\
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                Total
                                         Number of       Number of      Total annual                                       Total hours    operating and
       Activity/21 CFR section          respondents     disclosures      disclosures    Average burden  per disclosure         \2\         maintenance
                                                       per respondent                                                                         costs
--------------------------------------------------------------------------------------------------------------------------------------------------------
Notification of facilities that AB               0.1                1             0.1  200.............................              20              $54
 relinquishes its accreditation--
 900.3(f)(2).
Clinical images; facility \3\--                2,885                1           2,885  1.44............................           4,154          248,670
 900.4(c), 900.11(b)(1), and
 900.11(b)(2).
Clinical images; AB \4\--900.4(c)...               5                1               5  416.............................           2,080  ...............
Phantom images; facility \3\--                 2,885                1           2,885  0.72 (43 minutes)...............           2,077  ...............
 900.4(d), 900.11(b)(1), and
 900.11(b)(2).
Phantom images; AB \4\--900.4(d)....               5                1               5  208.............................           1,040  ...............
Annual equipment evaluation and                8,654                1           8,654  1...............................           8,654            9,325
 survey; facility \3\--900.4(e),
 900.11(b)(1), and 900.11(b)(2).
Annual equipment evaluation and                    5                1               5  1,730...........................           8,650  ...............
 survey; AB \4\--900.4(e).
Provisional mammography facility                   0                1               0  0.5 (30 minutes)................               1  ...............
 certificate extension application--
 900.11(b)(3).
Mammography facility certificate                 312                1             312  5...............................           1,560  ...............
 reinstatement application--
 900.11(c).
Lay summary of examination--                   8,654            5,085      44,055,590  0.083 (5 minutes)...............       3,652,464       25,861,265
 900.12(c)(2).
Lay summary of examination; patient               87                1              87  0.5 (30 minutes)................              44  ...............
 refusal \5\--900.12(c)(2).
Report of unresolved serious                      20                1              20  1...............................              20  ...............
 complaints--900.12(h)(4).
Information regarding compromised                 20                1              20  200.............................           4,000              324
 quality; facility \3\--900.12(j)(1).

Information regarding compromised                 20                1              20  320.............................           6,400              646
 quality; AB \4\--900.12(j)(1).
Patient notification of serious                    5                1               5  100.............................             500           20,878
 risk--900.12(j)(2).
Reconsideration of accreditation--                 5                1               5  2...............................              10  ...............
 900.15(c).
Notification of requirement to                   0.4                1             0.4  200.............................              80               73
 correct major deficiencies--
 900.24(a).
Notification of loss of approval;               0.15                1            0.15  100.............................              15               27
 major deficiencies--900.24(a)(2).
Notification of probationary status--            0.3                1             0.3  200.............................              60               55
 900.24(b)(1).
Notification of loss of approval;               0.15                1            0.15  100.............................              15               27
 minor deficiencies--900.24(b)(3).
                                     -------------------------------------------------------------------------------------------------------------------
    Total...........................  ..............  ...............  ..............  ................................       3,691,842       26,141,344
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ There are no capital costs associated with the collection of information.
\2\ Total hours have been rounded.
\3\ Refers to the facility component of the burden for this requirement.
\4\ Refers to the AB component of the burden for this requirement.
\5\ Refers to the situation where a patient specifically does not want to receive the lay summary of her exam.

    FDA has adjusted the number of respondents for Sec.  900.3(c) ``AB
renewal of approval'' to one. This adjustment resulted in a 14-hour
increase to the hour-burden estimate. Additionally, we updated the
capital costs and operating and maintenance costs by adjusting them for
inflation since the last update to those estimates. This adjustment
resulted in a $1,893,071 increase to the estimated capital and
operating and maintenance costs ($24,410,106 previously; $26,303,177
current extension request).

    Dated: August 12, 2019.
Lowell J. Schiller,
Principal Associate Commissioner for Policy.
[FR Doc. 2019-17734 Filed 8-16-19; 8:45 am]
 BILLING CODE 4164-01-P


[Federal Register Volume 76, Number 33 (Thursday, February 17, 2011)]
[Proposed Rules]
[Pages 9266-9268]
[FR Doc No: 2011-3557]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2011-0023; Airspace Docket No. 11-ANM-2]

Proposed Amendment of Class D and Class E Airspace; Idaho Falls,
ID

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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

SUMMARY: This action proposes to amend the Class D and Class E airspace
areas at Idaho Falls, ID, by changing the name of the airport to Idaho
Falls Regional Airport, and adjusting the geographic coordinates of the
airport. This action also would add additional Class E airspace
necessary to accommodate aircraft using new Area Navigation (RNAV)
Required Navigation Performance (RNP) standard instrument approach
procedures at the airport. This action would enhance the safety and
management of aircraft operations at the 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-
0023; Airspace Docket No. 11-ANM-2, 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 2011-0023 and Airspace Docket No. 11-ANM-2) 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-2011-0023 and Airspace Docket No. 11-ANM-2''. 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 amending the Class D and Class E
airspace areas to change the airport name from Fanning Field to Idaho
Falls Regional Airport, and also would adjust the geographic
coordinates of the airport to be in concert with the FAA's Aeronautical
Products office. Also, existing Class E airspace area extending upward
from 700 feet above the surface at Idaho Falls Regional Airport would
be adjusted to accommodate aircraft using the new RNAV (RNP) standard
instrument approach procedures, and would enhance the safety and
management of aircraft operations at the airport.
    Class D and Class E airspace designations are published in
paragraph 5000, 6002, 6004 and 6005, respectively, 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 D and Class E
airspace designations 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 amends controlled airspace at Idaho Falls Regional Airport, Idaho
Falls, ID.

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 5000 Class D airspace.

* * * * *

ANM ID D Idaho Falls, ID [Amended]

Idaho Falls Regional Airport, ID
    (Lat. 43[deg]30'52'' N., long. 112[deg]04'13'' W.)

    That airspace extending upward from the surface to and including
7,200 feet MSL within a 5.4-mile radius of Idaho Falls Regional
Airport excluding that airspace below 5,300 feet MSL within a 1-mile
radius of lat. 43[deg]28'16'' N., long. 111[deg]59'27'' W.; and
excluding that airspace 1 mile either side of the 127[deg] bearing
from lat. 43[deg]28'16'' N., long. 111[deg]59'27'' W., to the 5.4-
mile radius of Idaho Falls Regional Airport. This Class D airspace
area is effective during the specific dates and times established in
advance by a Notice to Airmen. The effective date and time will
thereafter be continuously published in the Airport/Facility
Directory.

Paragraph 6002 Class E airspace designated as surface areas.

* * * * *

ANM ID E2 Idaho Falls, ID [Amended]

Idaho Falls Regional Airport, ID
    (Lat. 43[deg]30'52'' N., long. 112[deg]04'13'' W.)

    Within a 5.4-mile radius of Idaho Falls Regional Airport. This
Class E airspace area is effective during the specific dates and
times established in advance by a Notice to Airmen. The effective
date and time will thereafter be continuously published in the
Airport/Facility Directory.

Paragraph 6004 Class E airspace designated as an Extension to a
Class D surface area.

* * * * *

ANM ID E4 Idaho Falls, ID [Amended]

Idaho Falls Regional Airport, ID
    (Lat. 43[deg]30'52'' N., long. 112[deg]04'13'' W.)
Idaho Falls VOR/DME
    (Lat. 43[deg]31'08'' N., long. 112[deg]03'50'' W.)

    That airspace extending upward from the surface within 3.1 miles
each side of the Idaho Falls VOR/DME 223[deg] radial extending from
the 5.4-mile radius of Idaho Falls Regional Airport to 9.2 miles
southwest of the VOR/DME, and within 3.5 miles each side of the
Idaho Falls VOR/DME 030[deg] radial extending from the 5.4-mile
radius of the airport to 7 miles northeast of the VOR/DME.

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

* * * * *

ANM ID E5 Idaho Falls, ID [Modified]

Idaho Falls Regional Airport, ID
    (Lat. 43[deg]30'52'' N., long. 112[deg]04'13'' W.)
Pocatello VORTAC
    (Lat. 42[deg]52'13'' N., long. 112[deg]39'08'' W.)
Burley VOR/DME
    (Lat. 42[deg]34'49'' N., long. 113[deg]51'57'' W.)
Idaho Falls VOR/DME
    (Lat. 43[deg]31'08'' N., long. 112[deg]03'50'' W.)

    That airspace extending upward from 700 feet above the surface
within a 7.5-mile radius of Idaho Falls Regional Airport, and within
10.2 miles northwest and 4.3 miles southeast of the Idaho Falls VOR/
DME 036[deg] and 216[deg] radials extending from 27.2 miles
northeast to 16.1 miles southwest of the VOR/DME, and within 7.9
miles southeast and 5.3 miles northwest of the 029[deg] radial of
the Pocatello VORTAC extending from 20.1 to 40.9 miles northeast of
the VORTAC; that airspace extending from 1,200 feet above the
surface bounded by a line beginning at the intersection of long.
112[deg]30'03'' W., and the south edge of V-298, extending east
along V-298 to the intersection of the south edge of V-298 and long.
112[deg]02'00'' W., north along long. 112[deg]02'00'' W. to lat.
44[deg]20'00'' N., east along lat. 44[deg]20'00'' N. to long.
110[deg]37'00'' W., south along long. 110[deg]37'00'' W. to the
intersection of long. 110[deg]37'00'' W. and the

northwest edge of V-465, southwest on V-465 to the intersection of
V-465 and long. 112[deg]00'00'' W., south along long.
112[deg]00'00'' W., to the north edge of V-4, west on V-4 to the
24.4 mile radius of the Burley VOR/DME, thence counterclockwise via
the 24.4-mile radius to the south edge of V-269, thence east along
the south edge of V-269 to the 25.3-mile radius of the Pocatello
VORTAC, thence clockwise via the 25.3-mile radius to lat.
43[deg]05'46'' N., long. 113[deg]08'15'' W.; to lat. 43[deg]20'30''
N., long. 112[deg]45'33'' W.; to lat. 43[deg]32'00'' N., long.
112[deg]35'03'' W.; to lat. 43[deg]50'20'' N., long. 112[deg]30'03''
W., thence to the point of beginning; excluding that airspace within
Federal airways, the Jackson Hole Airport, WY, the Rexburg/Madison
County Airport, ID, and the West Yellowstone Airport, MT, Class E
airspace areas.

    Issued in Seattle, Washington, on February 9, 2011.
Christine Mellon,
Acting Manager, Operations Support Group, Western Service Center.

[FR Doc. 2011-3557 Filed 2-16-11; 8:45 am]
BILLING CODE 4910-13-P