[Federal Register Volume 81, Number 67 (Thursday, April 7, 2016)]
[Notices]
[Pages 20426-20428]
[FR Doc No: 2016-07937]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77495; File No. SR-NASDAQ-2016-046]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Fees Under Rules 7015(b) and (g)

April 1, 2016.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on March 29, 2016, The NASDAQ Stock Market LLC (``Exchange'') filed
with the Securities and Exchange Commission (``SEC'' or ``Commission'')
the proposed rule change as described in Items I, II, and III, below,
which Items have been prepared by the Exchange. The Commission is
publishing this notice to solicit comments on the proposed rule change
from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change

    The Exchange proposes to amend the Exchange's access services fees
at Rules 7015(b) and (g) to increase the port fees charged to members
and non-members for ports used to enter orders into Exchange systems,
in connection with the use of the FIX, RASH and OUCH trading
telecommunication protocols. While these amendments are effective upon
filing, the Exchange has designated the proposed amendments to be
operative on April 1, 2016.
    The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaq.cchwallstreet.com, at the principal office of
the Exchange, and at the Commission's Public Reference Room.

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

    In its filing with the Commission, the 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 is proposing to amend Rules 7015(b) and (g) to
increase the monthly fees it charges for ports used to enter orders in
the Nasdaq Market Center for the trading of equities, in connection
with the use of the FIX, RASH, and OUCH trading telecommunication
protocols. Specifically, the Exchange is proposing to increase the fee
assessed for a FIX Trading Port from $550/port/month to $575/port/
month, to increase the fee assessed for a RASH port from $550/port/
month to $575/port/month, and to increase the fee assessed for an OUCH
port from $550/port/month to $575/port/month.
    The Exchange is proposing to increase charges assessed for these
connectivity options in light of a recent upgrade to the hardware
supporting the ports to FPGA technology.\3\ FPGA technology is a
hardware-delivery mechanism and an upgrade to the software and
software-and-hardware based mechanisms previously used for FIX, RASH,
and OUCH trading ports. By taking advantage of hardware parallelism,
FPGA technology is capable of processing more data packets during peak
market conditions without the introduction of variable queuing latency.
In other words, upgrading to FPGA technology improves the
predictability of the telecommunications ports and thereby adds value
to the user experience. In terms of messaging, the data content and
sequencing on the new FPGA technology hardware of the upgraded trading
ports is the same as on the legacy software-based versions of the
Exchange's ports that were replaced.
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    \3\ The Exchange has previously implemented FPGA hardware and
increased the fees proposed in this filing in connection with the
use of the FIX, RASH, and OUCH trading ports; however, due to
technical issues with the implementation the Exchanged determined to
roll back the FPGA implementation and associated increased fees. See
Securities Exchange Act Release No. 75882 (September 10, 2015), 80
FR 55698 (September 16, 2015) (SR-NASDAQ-2015-110); see also
Securities Exchange Act Release No. 77077 (February 8, 2016), 81 FR
7597 (February 12, 2016) (SR-NASDAQ-2016-014). The Exchange has
resolved prior issues with the technology and implemented the FPGA
hardware on FIX, RASH, and OUCH trading ports beginning February 8,
2016. Since implementation, the Exchange has not encountered any
issues with the new hardware, and has observed improvements to the
predictability of the telecommunications ports, as was anticipated.
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    The Exchange is offering new technology in order to keep pace with
changes in the industry and evolving customer needs as new technologies
emerge and products continue to develop and change. The Exchange is
increasing the subscription fees for the upgraded ports to offset the
costs associated with offering the new hardware, which include
procuring, shipping, installing, and maintaining the new equipment and
codebase.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\4\ in general, and with
Section 6(b)(5) of the Act,\5\ in particular, in that the proposal is
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest.
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    \4\ 15 U.S.C. 78f.
    \5\ 15 U.S.C. 78f(b)(5).
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    The Exchange continuously strives to offer members state of the art
technology to enhance their trading experience and thereby enhance the
national market system. Incremental enhancements such as the advent of
FPGA technology has [sic] helped make the U.S. markets the deepest,
most liquid markets in the world. The FPGA hardware applied to the
trading ports improves their predictability. Thus, the new hardware
further perfects the mechanism of a free and open market and a national
market system.
    The Exchange believes the proposed rule change is consistent with
Section 6(b)(4) of the Act \6\ in that it provides for the equitable
allocation of reasonable dues, fees and other charges among members and
issuers and other persons using any facility or system which the
Exchange operates or controls, and it does not unfairly discriminate
between customers, issuers, brokers or dealers.
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    \6\ 15 U.S.C. 78f(b)(4).
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    Specifically, the Exchange believes that the proposed increased
fees are reasonable because they are based on the costs associated with
purchasing hardware (capital expenditures) and supporting and
maintaining the infrastructure (operating expenditures) for the FPGA
enhancement. The Exchange also believes that the proposed fees are
equitable and not unfairly discriminatory because the fees apply
equally to all users of the FPGA-enhanced ports and the fees applied in
direct proportion to the number of ports used by each member.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. In terms of inter-market
competition, the Exchange notes that it operates in a highly
competitive market in which market participants can readily favor
competing venues if they deem fee levels at a particular venue to be
excessive, or rebate opportunities available at other venues to be more
favorable.
    In such an environment, the Exchange must continually adjust its
fees to remain competitive with other exchanges and with alternative
trading systems that have been exempted from compliance with the
statutory standards applicable to exchanges. Because competitors are
free to modify their own fees in response, and because market
participants may readily adjust their order routing practices, the
Exchange believes that the degree to which fee changes in this market
may impose any burden on competition is extremely limited.
    In this instance, the Exchange does not believe that the proposed
rule change will result in any burden on competition that is not
necessary or appropriate in furtherance of the purposes of the Act, as
amended. To the contrary, the Exchange believes that the proposed rule
change is pro-competitive in that the enhancements improve the
competitiveness of the Exchange and the overall quality of the national
market system. If, as the Exchange believes, the FPGA enhancement
provides the Exchange a competitive advantage, other exchanges will
quickly respond by enhancing their own markets in the same way. Such
innovation and imitation is the very

essence of the competition the Exchange Act is designed to promote.\7\
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    \7\ The Chicago Mercantile Exchange is currently using FPGA
technology in order entry ports for the trading of futures. See
https://www.cmegroup.com/globex/files/NewiLinkArchitecture2014.pdf.
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C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or received.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\8\
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    \8\ 15 U.S.C. 78s(b)(3)(A)(ii).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NASDAQ-2016-046 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NASDAQ-2016-046. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal offices 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-NASDAQ-2016-
046, and should be submitted on or before April 27, 2016.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-07937 Filed 4-6-16; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 78, Number 169 (Friday, August 30, 2013)]
[Notices]
[Pages 53818-53819]
[FR Doc No: 2013-21210]

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DEPARTMENT OF TRANSPORTATION

Federal Railroad Administration

[Docket No. FRA-2013-0002-N-18]

Request for Emergency Processing of Collection of Information by
the Office of Management and Budget

AGENCY: Federal Railroad Administration (FRA), United States Department
of Transportation (USDOT).

ACTION: Notice.

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SUMMARY: FRA hereby gives notice that it is submitting the following
Information Collection request (ICR) to the Office of Management and
Budget (OMB) for emergency processing under the Paperwork Reduction Act
of 1995. FRA requests that OMB authorize the collection of information
identified below on or before September 1, 2013, for a period of 180
days.

FOR FURTHER INFORMATION CONTACT: A copy of this individual ICR, with
applicable supporting documentation, may be obtained by calling FRA's
Clearance Officers: Robert Brogan (tel.<PHONE_NUMBER>) or Kimberly
Toone (tel.<PHONE_NUMBER>); these numbers are not toll-free), or by
contacting Mr. Brogan via facsimile at<PHONE_NUMBER> or Ms. Toone via
facsimile at<PHONE_NUMBER>, or via email by contacting Mr. Brogan at
<EMAIL_ADDRESS>or by contacting Ms. Toone at<EMAIL_ADDRESS>
Comments and questions about the ICR identified below should be
directed to OMB's Office of Information and Regulatory Affairs, Attn:
FRA OMB Desk Officer.
    Title: FRA Emergency Order No. 28, Notice No. 1

                                                Reporting Burden
----------------------------------------------------------------------------------------------------------------
                                      Respondent         Total annual       Average time per      Total annual
    Emergency order item No.           universe           responses             response          burden hours
----------------------------------------------------------------------------------------------------------------
(1) RR Plans identifying          655 railroads.....  491 plans........  40 hours.............      19,640 hours
 specific locations and
 circumstances of trains
 carrying hazardous materials.
--Revised Plans.................  655 railroads.....  50 revised plans.  10 hours.............               500
--Notifications to FRA by RR of   655 railroads.....  50 notifications.  30 minutes...........                25
 Plan Development Prior to Its
 Operation Pursuant to Plan.
(2)(a)--RR Development of         655 railroads.....  491 processes....  60 minutes...........               491
 Process for Securing Unattended
 Trains or Vehicles.
(b)--RR Employees communication   100,000 Employees.  2,600 exchanges/   5 minutes............               217
 to dispatchers of information                         communications.
 regarding securement of train.
(c)--Dispatcher's Record of       655 railroads.....  2,600 records....  2 minutes............                87
 Information Exchanged or
 Communicated.
(d)--Train Dispatcher or Other    655 railroads.....  2,600              2 minutes............                87
 Qualified Employee Verification                       verifications
 and Confirmation of Train                             and
 Securement Meeting RR's                               confirmations.
 Requirements.
(3) RR Review and Revision of     655 railroads.....  491 revised        6 hours..............             2,946
 Existing Procedures and                               procedures and
 Processed Related to the number                       processes.
 of Hand Brakes Set on All
 Unattended Trains.
(4) RR Revision of Operating      655 railroads.....  491 revised        2 hours..............               982
 Rules and Practices to Require                        operating rules
 Job Briefing of Train                                 and practices.
 Securement.
--Daily Job Briefings...........  100,000 RR          23,400,000         5 minutes............         1,950,000
                                   Employees.          briefings.
(5) Development of RR Procedure   655 railroads.....  491 Procedures...  60 minutes...........               491
 to Ensure a Qualified Employee
 Inspects All Equipment Visited
 by Emergency Responder for
 Proper Securement Before Train
 or Vehicle is Left Unattended.
--Inspections of Equipment......  655 railroads.....  1,000 inspections  4 hours..............             4,000
(6) RR Employees Copy of FRA EO   100,000 RR          100,000 copies...  1 minute.............             1,667
 28.                               Employees.
----------------------------------------------------------------------------------------------------------------

    Form Number(s): N/A
    Respondent Universe: 655 Railroads; 100,000 Railroad Employees
    Frequency of Submission: One-time; on occasion
    Total Responses: 23,511,355
    Estimated Total Annual Burden: 1,981,133 hours
    Status: Emergency Review
    Description: FRA has determined that public safety compelled the
issuance of Emergency Order No. 28, which requires railroads operating
on the general system of transportation to implement additional
processes and procedures to ensure that unattended trains and vehicles
on mainline track or sidings are properly secured against unintended
movement. Emergency Order No. 28 was published in the Federal Register
on August 7, 2013, in response to the catastrophic accident that
occurred in Lac-M[eacute]gantic, Quebec, Canada, on July 6, 2013. See
78 FR 48218. Emergency Order No. 28 is intended to address some of the
human factors failures that may cause unattended equipment to be
improperly secured in order to protect the general public and
communities near the general system of rail transportation and railroad
equipment that is used on it against derailment situations similar to
that which occurred at Lac-M[eacute]gantic.
    Pursuant to 44 U.S.C. 3507(a) and 5 CFR 320.5(b), 1320.8(b)(3)(vi),
FRA informs all interested parties that it may not conduct or sponsor,
and a respondent is not required to respond to, a collection of
information unless it displays a currently valid OMB control number.

    Authority: 44 U.S.C. 3501-3520.

Rebecca Pennington,
Chief Financial Officer.
[FR Doc. 2013-21210 Filed 8-29-13; 8:45 am]
BILLING CODE 4910-06-P


[Federal Register Volume 87, Number 72 (Thursday, April 14, 2022)]
[Rules and Regulations]
[Pages 22116-22117]
[FR Doc No: 2022-07932]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 25

[Docket No. FAA-2022-0125; Special Conditions No. 25-808-SC]

Special Conditions: Dassault Aviation Model Falcon 6X Airplane;
Flight Envelope Protection: Pitch and Roll Limiting Functions

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final special conditions; request for comments.

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SUMMARY: These special conditions are issued for the Dassault Aviation
(Dassault) Model Falcon 6X airplane. This airplane will have a novel or
unusual design feature when compared to the state of technology
envisioned in the airworthiness standards for transport category
airplanes. This design feature is an Electronic Flight Control System
(EFCS) that limits pitch and roll functions to prevent the airplane
from attaining certain pitch attitudes and roll angles. The applicable
airworthiness regulations do not contain adequate or appropriate safety
standards for this design feature. These special conditions contain the
additional safety standards that the Administrator considers necessary
to establish a level of safety equivalent to that established by the
existing airworthiness standards.

DATES: This action is effective on Dassault on April 14, 2022. Send
comments on or before May 31, 2022.

ADDRESSES: Send comments identified by Docket No. FAA-2022-0125 using
any of the following methods:
     Federal eRegulations Portal: Go to https://www.regulations.gov/ and follow the online instructions for sending
your comments electronically.
     Mail: Send comments to Docket Operations, M-30, U.S.
Department of Transportation (DOT), 1200 New Jersey Avenue SE, Room
W12-140, West Building Ground Floor, Washington, DC 20590-0001.
     Hand Delivery or Courier: Take comments to Docket
Operations in Room W12-140 of the West Building Ground Floor at 1200
New Jersey Avenue SE, Washington, DC, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.
     Fax: Fax comments to Docket Operations at<PHONE_NUMBER>.
    Privacy: Except for Confidential Business Information (CBI) as
described in the following paragraph, and other information as
described in title 14, Code of Federal Regulations (14 CFR) 11.35, the
FAA will post all comments received without change to https://www.regulations.gov/, including any personal information you provide.
The FAA will also post a report summarizing each substantive verbal
contact received about these special conditions.
    Confidential Business Information: Confidential Business
Information (CBI) is commercial or financial information that is both
customarily and actually treated as private by its owner. Under the
Freedom of Information Act (FOIA) (5 U.S.C. 552), CBI is exempt from
public disclosure. If your comments responsive to these special
conditions contain commercial or financial information that is
customarily treated as private, that you actually treat as private, and
that is relevant or responsive to these special conditions, it is
important that you clearly designate the submitted comments as CBI.
Please mark each page of your submission containing CBI as ``PROPIN.''
The FAA will treat such marked submissions as confidential under the
FOIA, and the indicated comments will not be placed in the public
docket of these special conditions. Send submissions containing CBI to
Troy Brown, Performance and Environment Section, AIR-625, Technical
Innovation Policy Branch, Policy and Innovation Division, Aircraft
Certification Service, Federal Aviation Administration, 1801 S Airport
Rd., Wichita, KS 67209-2190; telephone and fax<PHONE_NUMBER>; email
[email protected]. Comments the FAA receives, which are not
specifically designated as CBI, will be placed in the public docket for
these special conditions.
    Docket: Background documents or comments received may be read at
https://www.regulations.gov/ at any time. Follow the online
instructions for accessing the docket or go to Docket Operations in
Room W12-140 of the West Building Ground Floor at 1200 New Jersey
Avenue SE, Washington, DC, between 9 a.m. and 5 p.m., Monday through
Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT: Troy Brown, Performance and
Environment Section, AIR-625, Technical Innovation Policy Branch,
Policy and Innovation Division, Aircraft Certification Service, Federal
Aviation Administration, 1801 S Airport Rd., Wichita, KS 67209-2190;
telephone and fax<PHONE_NUMBER>; email [email protected].

SUPPLEMENTARY INFORMATION: The substance of these special conditions
has been published in the Federal Register for public comment in
several prior instances with no substantive comments received.
Therefore, the FAA finds, pursuant to 14 CFR 11.38(b), that new
comments are unlikely, and notice and comment prior to this publication
are unnecessary.

Comments Invited

    The FAA invites interested people to take part in this rulemaking
by sending written comments, data, or views. The most helpful comments
reference a specific portion of the special conditions, explain the
reason for any recommended change, and include supporting data.
    The FAA will consider all comments received by the closing date for
comments. The FAA may change these special conditions based on the
comments received.

Background

    On July 1, 2012, Dassault Aviation applied for a type certificate
for its new Model Falcon 5X airplane. However, Dassault has decided not
to release an airplane under the model designation Falcon 5X, instead
choosing to change that model designation to Falcon 6X.
    In February of 2018, due to engine supplier issues, Dassault
extended the type certificate application date for its Model Falcon 5X
airplane under new Model Falcon 6X. This airplane is a twin-engine
business jet with seating for 19 passengers, and has a maximum takeoff
weight of 77,460 pounds.

Type Certification Basis

    Under the provisions of 14 CFR 21.17, Dassault must show that the
Model Falcon 6X airplane meets the applicable provisions of 14 CFR part
25, as amended by amendments 25-1 through 25-146.
    If the Administrator finds that the applicable airworthiness
regulations (e.g., 14 CFR part 25) do not contain adequate or
appropriate safety standards for the Dassault Model Falcon 6X airplane
because of a novel or unusual design feature, special conditions are
prescribed under the provisions of Sec.  21.16.
    Special conditions are initially applicable to the model for which
they are issued. Should the type certificate for that model be amended
later to include any other model that incorporates the same novel or
unusual design feature, these special conditions would also apply to
the other model under Sec.  21.101.
    In addition to the applicable airworthiness regulations and special
conditions, the Dassault Model Falcon 6X airplane must comply with the
fuel-vent and exhaust-emission requirements of 14 CFR part 34, and the
noise-

certification requirements of 14 CFR part 36.
    The FAA issues special conditions, as defined in 14 CFR 11.19, in
accordance with Sec.  11.38, and they become part of the type
certification basis under Sec.  21.17(a)(2).

Novel or Unusual Design Features

    The Dassault Aviation Model Falcon 6X airplane will incorporate the
following novel or unusual design features:
    An Electronic Flight Control System (EFCS) that limits pitch and
roll functions to prevent the airplane from attaining certain pitch
attitudes and roll angles.

Discussion

    Part 25 of 14 CFR does not specifically relate to flight
characteristics associated with fixed-attitude limits. The Dassault
Aviation Model Falcon 6X airplane will incorporate pitch and roll
attitude-limiting functions, via the Electronic Flight Control System
(EFCS) normal modes, to prevent airplane pitch attitudes greater than
+30 degrees and less than -15 degrees, and roll angles greater than
plus or minus 67 degrees. In addition, positive spiral stability is
introduced for roll angles greater than 35 degrees at speeds below
VMO/MMO. At speeds greater than VMO
and up to VDF, maximum aileron control force is limited to
only 45 degrees maximum bank angle.
    The installed attitude-limiting functions are designed such that,
at VMO + 6 knots or MMO + 0.012, an automatic
nose-up pitch is applied with phase advance in case of high
acceleration. The speed stabilizes at VD/MD if
the stick is full forward, or the speed will return to VMO/
MMO if the stick is released.
    The basic envelope-protection requirement, historically applied, is
to not unduly limit the maneuver capability of the airplane, nor
interfere with its ability to perform maneuvers required for normal and
emergency operations. The design details for the Dassault Model Falcon
6X support the objective of not unduly limiting the maneuver
capability, while also protecting the airplane from adverse attitudes.
    These special conditions are in addition to the requirements of 14
CFR 25.143. These special conditions contain the additional safety
standards that the Administrator considers necessary to establish a
level of safety equivalent to that established by the existing
airworthiness standards.

Applicability

    As discussed above, these special conditions are applicable to the
Dassault Model Falcon 6X airplane. Should Dassault apply at a later
date for a change to the type certificate to include another model
incorporating the same novel or unusual design feature, these special
conditions would apply to that model as well.

Conclusion

    This action affects only a certain novel or unusual design feature
on one model of airplane. It is not a rule of general applicability.

List of Subjects in 14 CFR Part 25

    Aircraft, Aviation safety, Reporting and recordkeeping
requirements.

Authority Citation

    The authority citation for these special conditions is as follows:

    Authority: 49 U.S.C. 106(f), 106(g), 40113, 44701, 44702, 44704.

The Special Conditions

    Accordingly, pursuant to the authority delegated to me by the
Administrator, the following special conditions are issued as part of
the type certification basis for Dassault Aviation Model Falcon 6X
airplanes.
    In addition to Sec.  25.143, the following requirements apply:
    1. The pitch-limiting function must not impede normal maneuvering
for pitch angles up to the maximum required for normal maneuvering,
including a normal all-engines-operating takeoff, plus a suitable
margin to allow for satisfactory speed control.
    2. The pitch- and roll-limiting functions must not restrict, or
prevent attaining pitch attitudes necessary for, emergency maneuvering,
or roll angles up to 66 degrees with flaps up, or 60 degrees with flaps
down. Spiral stability, which is introduced above 35 degrees roll
angle, must not require excessive pilot strength to achieve these roll
angles. Other protections, which further limit the roll capability
under certain extreme angle-of-attack, attitude, or high-speed
conditions, are acceptable, if they allow at least 45 degrees of roll
capability.

    Issued in Kansas City, Missouri, on April 8, 2022.
Patrick R. Mullen,
Manager, Technical Innovation Policy Branch, Policy and Innovation
Division, Aircraft Certification Service.
[FR Doc. 2022-07932 Filed 4-13-22; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register: January 27, 2010 (Volume 75, Number 17)]
[Rules and Regulations]
[Page 4270]
[DOCID:fr27ja10-10]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2009-0653; Airspace Docket 09-ASO-22]

Modification of Class E Airspace; Anniston, AL

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Direct final rule; confirmation of effective date.

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SUMMARY: This action confirms the effective date of a direct final rule
published in the Federal Register October 28, 2009 that modifies the
Class E airspace at Anniston Metropolitan Airport, Anniston, AL.

DATES: Effective Date: 0901 UTC, January 27, 2010.

FOR FURTHER INFORMATION CONTACT: Melinda Giddens, Operations Support,
Eastern Service Center, Federal Aviation Administration, P.O. Box
20636, Atlanta, Georgia 30320; telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Confirmation of Effective Date

    The FAA published this direct final rule with a request for
comments in the Federal Register on October 28, 2009 (74 FR 55449),
Docket No. FAA-2009-0653; Airspace Docket 09-ASO-22. The FAA uses the
direct final rulemaking procedure for a non-controversial rule where
the FAA believes that there will be no adverse public comment. This
direct final rule advised the public that no adverse comments were
anticipated, and that unless a written adverse comment, or a written
notice of intent to submit such an adverse comment, were received
within the comment period, the regulation would become effective on
December 17, 2009. No adverse comments were received, and thus this
notice confirms that effective date.

    Issued in College Park, Georgia on January 13, 2010.
Barry A. Knight,
Acting Manager, Operations Support Group, Eastern Service Center, Air
Traffic Organization.
[FR Doc. 2010-1374 Filed 1-26-10; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 78, Number 151 (Tuesday, August 6, 2013)]
[Rules and Regulations]
[Pages 47529-47531]
[FR Doc No: 2013-18488]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2013-0216; Directorate Identifier 2012-NM-206-AD;
Amendment 39-17521; AD 2013-15-05]
RIN 2120-AA64

Airworthiness Directives; Bombardier, Inc. Airplanes

AGENCY: Federal Aviation Administration (FAA), Department of
Transportation (DOT).

ACTION: Final rule.

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SUMMARY: We are adopting a new airworthiness directive (AD) for certain
Bombardier, Inc. Model CL-600-2B19 (Regional Jet Series 100 & 440)
airplanes. This AD was prompted by a determination that certain flap
actuators require restoration by installing a redesigned flap actuator
inboard pinion seal. This AD requires revising the maintenance program
by incorporating new airworthiness limitation tasks. We are issuing
this AD to prevent flap system failure, and consequent reduced control
of the airplane.

DATES: This AD becomes effective September 10, 2013.
    The Director of the Federal Register approved the incorporation by
reference of a certain publication listed in this AD as of September
10, 2013.

ADDRESSES: You may examine the AD docket on the Internet at http://www.regulations.gov or in person at the U.S. Department of
Transportation, Docket Operations, M-30, West Building Ground Floor,
Room W12-140, 1200 New Jersey Avenue SE., Washington, DC.

FOR FURTHER INFORMATION CONTACT: Luke Walker, Aerospace Engineer,
Airframe and Mechanical Systems Branch, ANE-171, FAA, New York Aircraft
Certification Office (ACO), 1600 Stewart Avenue, Suite 410, Westbury,
New York 11590; telephone<PHONE_NUMBER>; fax<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Discussion

    We issued a notice of proposed rulemaking (NPRM) to amend 14 CFR
part 39 to include an AD that would apply to the specified products.
The NPRM was published in the Federal Register on April 8, 2013 (78 FR
20844). The NPRM proposed to correct an unsafe condition for the
specified products. Transport Canada Civil Aviation (TCCA), which is
the aviation authority for Canada, has issued Canadian Airworthiness
Directive CF-2012-26, dated October 30, 2012 (referred to after this as
the Mandatory Continuing Airworthiness Information, or ``the MCAI''),
to correct an unsafe condition for the specified products. The MCAI
states:

The CL-600-2B19 aeroplane flap actuator inboard pinion seal is prone
to leak which can cause internal contamination of the actuator
braking mechanism and subsequent actuator failure. This condition,
if not corrected, can cause flap system failure. In certain weather
and runway conditions, frequent flap system failures pose a safety
concern.

To improve the internal actuator sealing, the flap actuator
manufacturer has redesigned the inboard pinion seal.

Transport Canada Civil Aviation (TCCA) has been monitoring, through
an actuator sampling program, the performance of the flap system
since the introduction of actuators equipped with this new inboard
pinion seal. Based on this sampling program and recent flap
reliability data, TCCA is mandating a restoration task to install
the redesigned flap actuator inboard pinion seal on all applicable
actuators.

The required action is revising the maintenance program by
incorporating two new airworthiness limitation tasks. The unsafe
condition is flap system failure, and consequent reduced control of the
airplane. You may obtain further information by examining the MCAI in
the AD docket.

Comments

    We gave the public the opportunity to participate in developing
this AD. We have considered the comment received.

Statement of Support for the NPRM (78 FR 20844, April 8, 2013) and
Request To Shorten Compliance Time

    The Airline Pilots Association International stated it supports the
NPRM (78 FR 20844, April 8, 2013), and requested that we shorten the
compliance time to ensure that the identified safety issue is corrected
within the airplane fleet as soon as possible.
    We do not agree with the request to shorten the compliance time.
After considering all the available information, we have determined
that the compliance time, as proposed, represents an appropriate
interval of time in which the required actions can

be performed in a timely manner within the affected fleet, while still
maintaining an adequate level of safety. In developing an appropriate
compliance time, we considered the safety implications, parts
availability, and normal maintenance schedules for timely
accomplishment of installing the inboard pinion seal in the flap
actuator. Further, we arrived at the proposed initial task compliance
time with operator and manufacturer concurrence.
    To reduce the compliance time of the NPRM (78 FR 20844, April 8,
2013) would necessitate (under the provisions of the Administrative
Procedure Act) reissuing the notice, reopening the period for public
comment, considering additional comments subsequently received, and
eventually issuing a final rule. We have determined that further delay
of this final rule is not appropriate. However, if additional data are
presented that would justify a shorter compliance time, we might
consider further rulemaking on this issue. We have not changed this AD
in this regard.

Conclusion

    We reviewed the available data, including the comment received, and
determined that air safety and the public interest require adopting
this AD as proposed--except for minor editorial changes. We have
determined that these minor changes:
     Are consistent with the intent that was proposed in the
NPRM (78 FR 20844, April 8, 2013) for correcting the unsafe condition;
and
     Do not add any additional burden upon the public than was
already proposed in the NPRM (78 FR 20844, April 8, 2013).

Costs of Compliance

    We estimate that this AD affects 573 airplanes of U.S. registry.
    We estimate the following costs to comply with this AD:

                                                 Estimated Costs
----------------------------------------------------------------------------------------------------------------
                                                                                Cost per    Cost on U.S.
                  Action                            Labor cost           Parts cost    product       operators
----------------------------------------------------------------------------------------------------------------
Revise the maintenance program...........  1 work-hour x $85 per hour            $0          $85         $48,705
                                            = $85.
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Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, section 106, describes the
authority of the FAA Administrator. ``Subtitle VII: Aviation
Programs,'' describes in more detail the scope of the Agency's
authority.
    We are issuing this rulemaking under the authority described in
``Subtitle VII, Part A, Subpart III, Section 44701: General
requirements.'' Under that section, Congress charges the FAA with
promoting safe flight of civil aircraft in air commerce by prescribing
regulations for practices, methods, and procedures the Administrator
finds necessary for safety in air commerce. This regulation is within
the scope of that authority because it addresses an unsafe condition
that is likely to exist or develop on products identified in this
rulemaking action.

Regulatory Findings

    We determined that this AD will not have federalism implications
under Executive Order 13132. This AD will not have a substantial direct
effect on the States, on the relationship between the national
government and the States, or on the distribution of power and
responsibilities among the various levels of government.
    For the reasons discussed above, I certify that this AD:
    1. Is not a ``significant regulatory action'' under Executive Order
12866;
    2. Is not a ``significant rule'' under the DOT Regulatory Policies
and Procedures (44 FR 11034, February 26, 1979);
    3. Will not affect intrastate aviation in Alaska; and
    4. Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.
    We prepared a regulatory evaluation of the estimated costs to
comply with this AD and placed it in the AD docket.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://www.regulations.gov; or in person at the Docket Operations office
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays. The AD docket contains this AD, the MCAI, the regulatory
evaluation, any comments received, and other information. The street
address for the Docket Operations office (telephone<PHONE_NUMBER>) is
in the ADDRESSES section.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Incorporation by
reference, Safety.

Adoption of the Amendment

    Accordingly, under the authority delegated to me by the
Administrator, the FAA amends 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

0
1. The authority citation for part 39 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40113, 44701.

Sec.  39.13  [Amended]

0
2. The FAA amends Sec.  39.13 by adding the following new AD:

2013-15-05 Bombardier, Inc.: Amendment 39-17521. Docket No. FAA-
2013-0216; Directorate Identifier 2012-NM-206-AD.

(a) Effective Date

    This airworthiness directive (AD) becomes effective September
10, 2013.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to Bombardier, Inc. Model CL-600-2B19 (Regional
Jet Series 100 & 440) airplanes, certificated in any category,
equipped with Eaton flap actuators having any part number (P/N)
specified in paragraphs (c)(1), (c)(2), and (c)(3) of this AD.
    (1) P/N 601R93101-23/-25 (vendor P/N 852D100-23, -25).
    (2) P/N 601R93103-23/-24 (vendor P/N 853D100-23, -24).
    (3) P/N 601R93104-23/-24 (vendor P/N 854D100-23, -24).

(d) Subject

    Air Transport Association (ATA) of America Code 27, Flight
controls.

(e) Reason

    This AD was prompted by a determination that certain flap
actuators require restoration by installing a redesigned flap
actuator inboard pinion seal. We are issuing this AD to prevent flap
system failure, and consequent reduced control of the airplane.

(f) Compliance

    You are responsible for having the actions required by this AD
performed within the compliance times specified, unless the actions
have already been done.

(g) Maintenance Program Revision

    Within 30 days after the effective date of this AD, revise the
maintenance program to incorporate Tasks C27-50-111-15 and C27-50-
111-17 of Bombardier CL-600-2B19 Temporary Revision (TR) 2A-48,
dated July 6, 2012, to Appendix A--Certification Maintenance
Requirements, of Part 2, Airworthiness Requirements, of the
Bombardier CL-600-2B19 Maintenance Requirements Manual (MRM), except
as specified in paragraph (j) of this AD. The initial compliance
times for the tasks are specified in paragraph (h) of this AD.
    Note 1 to paragraph (g) of this AD: The maintenance program
revision required by paragraph (g) of this AD may be done by
inserting a copy of Bombardier CL-600-2B19 TR 2A-48, dated July 6,
2012, into Appendix A--Certification Maintenance Requirements, of
Part 2, Airworthiness Requirements, of the Bombardier CL-600-2B19
MRM. When this TR has been included in general revisions of the MRM,
the general revisions may be inserted in the MRM, provided the
relevant information in the general revision is identical to that in
Bombardier CL-600-2B19 TR 2A-48, dated July 6, 2012.

(h) Initial Task Compliance Times

    For the inboard and outboard flap actuators identified in
Bombardier CL-600-2B19 TR 2A-48, dated July 6, 2012, to Appendix A--
Certification Maintenance Requirements, of Part 2, Airworthiness
Requirements, of the Bombardier CL-600-2B19 MRM, the initial
compliance times for the tasks specified in Bombardier CL-600-2B19
TR 2A-48, dated July 6, 2012, are the applicable times specified in
paragraphs (h)(1) through (h)(4) of this AD.
    (1) For flap actuators that have accumulated less than 6,000
flight cycles as of the effective date of this AD, before the
accumulation of 10,000 flight cycles on the flap actuator.
    (2) For flap actuators that have accumulated 6,000 or more
flight cycles but less than 10,000 flight cycles as of the effective
date of this AD, within 4,000 flight cycles after the effective date
of this AD, but no later than 12,000 flight cycles on the flap
actuator.
    (3) For flap actuators that have accumulated 10,000 or more
flight cycles but less than or equal to 12,000 flight cycles as of
the effective date of this AD, within 2,000 flight cycles after the
effective date of this AD, but no later than 13,000 flight cycles on
the flap actuator.
    (4) For flap actuators that have accumulated more than 12,000
flight cycles as of the effective date of this AD, within 1,000
flight cycles after the effective date of this AD.

(i) Repetitive Compliance Time

    Where Bombardier CL-600-2B19 TR 2A-48, dated July 6, 2012, to
Appendix A--Certification Maintenance Requirements, of Part 2,
Airworthiness Requirements, of the Bombardier CL-600-2B19 MRM,
specifies a task interval of 10,000 flight cycles or 144 months, the
task interval is 10,000 flight cycles.

(j) No Alternative Actions and Intervals

    After accomplishing the revision required by paragraph (g) of
this AD, no alternative actions (e.g., inspections) or intervals may
be used unless the actions or intervals are approved as an
alternative method of compliance (AMOC) in accordance with the
procedures specified in paragraph (k) of this AD.

(k) Other FAA AD Provisions

    The following provisions also apply to this AD:
    (1) Alternative Methods of Compliance (AMOCs): The Manager, New
York Aircraft Certification Office (ACO), ANE-170, FAA, has the
authority to approve AMOCs for this AD, if requested using the
procedures found in 14 CFR 39.19. In accordance with 14 CFR 39.19,
send your request to your principal inspector or local Flight
Standards District Office, as appropriate. If sending information
directly to the ACO, send it to Program Manager, Continuing
Operational Safety, FAA, New York ACO, 1600 Stewart Avenue, Suite
410, Westbury, NY 11590; telephone<PHONE_NUMBER>; fax (516) 794-
5531. Before using any approved AMOC, notify your appropriate
principal inspector, or lacking a principal inspector, the manager
of the local flight standards district office/certificate holding
district office. The AMOC approval letter must specifically
reference this AD.
    (2) Airworthy Product: For any requirement in this AD to obtain
corrective actions from a manufacturer or other source, use these
actions if they are FAA-approved. Corrective actions are considered
FAA-approved if they are approved by the State of Design Authority
(or their delegated agent). You are required to assure the product
is airworthy before it is returned to service.

(l) Related Information

    Refer to Mandatory Continuing Airworthiness Information Canadian
Airworthiness Directive CF-2012-26, dated October 30, 2012, for
related information, which can be found in the AD docket on the
internet at http://www.regulations.gov.

(m) Material Incorporated by Reference

    (1) The Director of the Federal Register approved the
incorporation by reference (IBR) of the service information listed
in this paragraph under 5 U.S.C. 552(a) and 1 CFR part 51.
    (2) You must use this service information as applicable to do
the actions required by this AD, unless the AD specifies otherwise.
    (i) Bombardier CL-600-2B19 Temporary Revision 2A-48, dated July
6, 2012, to Appendix A--Certification Maintenance Requirements, of
Part 2, Airworthiness Requirements, of the Bombardier CL-600-2B19
Maintenance Requirements Manual.
    (ii) Reserved.
    (3) For service information identified in this AD, Bombardier,
Inc., 400 C[ocirc]te-Vertu Road West, Dorval, Qu[eacute]bec H4S 1Y9,
Canada; telephone<PHONE_NUMBER>; fax<PHONE_NUMBER>; email
<EMAIL_ADDRESS>Internet http://www.bombardier.com.
    (4) You may review copies of the service information at the FAA,
Transport Airplane Directorate, 1601 Lind Avenue SW., Renton, WA.
For information on the availability of this material at the FAA,
call<PHONE_NUMBER>.
    (5) You may view this service information that is incorporated
by reference at the National Archives and Records Administration
(NARA). For information on the availability of this material at
NARA, call<PHONE_NUMBER>, or go to: http://www.archives.gov/federal-register/cfr/ibr-locations.html.

    Issued in Renton, Washington, on July 12, 2013.
Jeffrey E. Duven,
Acting Manager, Transport Airplane Directorate, Aircraft Certification
Service.
[FR Doc. 2013-18488 Filed 8-5-13; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 85, Number 92 (Tuesday, May 12, 2020)]
[Notices]
[Pages 28115-28119]
[FR Doc No: 2020-10068]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-88829; File No. SR-NYSE-2020-41]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Add Commentary .02 to Rule 7.35B

May 6, 2020.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that on May 4, 2020, New York Stock Exchange LLC (``NYSE'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and II
below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C.78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to add Commentary .02 to Rule 7.35B to
provide that, for a temporary period that begins on May 6, 2020 and
ends on the earlier of the reopening of the Trading Floor facilities or
after the Exchange closes on May 15, 2020, the Exchange would make
available specified Closing Auction Imbalance Information to member
organizations beginning one hour before the end of Core Trading Hours.
The proposed rule change is available on the Exchange's website at
www.nyse.com, at the principal office of the Exchange, and at the
Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to add Commentary .02 to Rule 7.35B to
provide that, for a temporary period that begins on May 6, 2020 and
ends on the earlier of the reopening of the Trading Floor facilities or
after the Exchange closes on May 15, 2020, the Exchange would make
available specified Closing Auction Imbalance Information to member
organizations beginning one hour before the end of Core Trading Hours.
Background
    In its listed securities, the Exchange disseminates Auction
Imbalance Information \4\ for the Closing Auction, as provided for in
Rule 7.35B(e), beginning at the Closing Auction Imbalance Freeze Time,
which is 10 minutes before the scheduled end of Core Trading Hours.\5\

In addition to disseminating Auction Imbalance Information on its
proprietary data feeds, specified Auction Imbalance Information is also
made available to member organizations via the NYSE Pillar Trade Ops
Portal, which is a free web-based management tool for member
organizations to manage their interaction with the Exchange.\6\
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    \4\ The term ``Auction Imbalance Information'' means the
information that is disseminated by the Exchange for an Auction (see
Rule 7.35(a)(4)) and, depending on the Auction, can include Total
Imbalance (Rule 7.35(a)(4)(A)(i)); Closing Imbalance (Rule
7.35(a)(4)(A)(ii); Paired Quantity, Unpaired Quantity, and Side of
Unpaired Quantity (Rule 7.35(a)(4)(B)); Continuous Book Clearing
Price (Rule 7.35(a)(4)(C)); and Closing Interest Only Clearing Price
(Rule 7.35(a)(4)(D)).
    \5\ For the Closing Auction, the Exchange begins disseminating
the following Auction Imbalance Information at the Closing Auction
Imbalance Freeze Time: Total Imbalance, Side of Total Imbalance,
Paired Quantity, Unpaired Quantity, Side of Unpaired Quantity,
Continuous Book Clearing Price, Closing Interest Only Clearing
Price, and Regulatory Closing Imbalance. See Rules 7.35B(e)(1)(A)
and 7.35B(e)(2). See also Rule 7.35(a)(7) (specifying the Closing
Auction Imbalance Freeze Time).
    \6\ Through the NYSE Pillar Trade Ops Portal, NYSE member
organizations can view their executed trade details, review their
Pillar order entry and drop copy sessions, and view their firm's
volume by liquidity tag. To gain access, a member organization's
compliance department must submit a form to establish which
individuals at that firm are authorized to become users of the NYSE
Pillar Trade Ops Portal. Information about the NYSE Pillar Trade Ops
Portal is available here: https://www.nyse.com/pillar/trade-ops-portal.
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    Auction Imbalance Information for the Closing Auction becomes
available on the NYSE Pillar Trade Ops Portal at the Closing Auction
Imbalance Freeze time, as provided for in Rule 7.35B(e)(1)(A), and
includes the following content: Total Imbalance, Side of Total
Imbalance, Paired Quantity, Continuous Book Clearing Price, and Closing
Interest Only Clearing Price. On the portal, such data is updated every
30 seconds, and once updated, overwrites the prior data available on
the portal. To access such Auction Imbalance Information, users of the
NYSE Pillar Trade Ops Portal must manually query the tool to view
Auction Imbalance Information.\7\
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    \7\ See User Guide for the NYSE Trade Ops Portal, available
here: https://www.nyse.com/publicdocs/nyse/NYSE_Trade_Ops_Portal_User_Guide.pdf. The static information that is
displayed can be manually exported to an Excel table, but is not
otherwise not available for real-time distribution of the data.
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    In addition, pursuant to Rule 7.35B(e)(1)(B), beginning two hours
before the end of Core Trading Hours (e.g., beginning at 2 p.m. Eastern
Time) up to the Closing Auction Imbalance Freeze Time (e.g., 3:50 p.m.
Eastern Time), the Exchange makes available Total Imbalance, Side of
Total Imbalance, Paired Quantity, Unpaired Quantity, Side of Unpaired
Quantity, and if published, Manual Closing Imbalance, to Floor brokers
for any security (i) in which a Floor broker has entered an order or
(ii) as specifically requested by a Floor broker. This Auction
Imbalance Information is provided in a manner that does not permit
electronic distribution. Specifically, this information is displayed on
the trading systems that Floor Brokers use on the Trading Floor.
Temporary Floor Closure Impacts Floor Brokers and Their Customers
    Since March 9, 2020, markets worldwide have been experiencing
unprecedented market-wide declines and volatility because of the
ongoing spread of COVID-19. Beginning on March 16, 2020, to slow the
spread of COVID-19 through social-distancing measures, significant
limitations were placed on large gatherings throughout the country.
    On March 18, 2020, the CEO of the Exchange made a determination
under Rule 7.1(c)(3) that, beginning March 23, 2020, the Trading Floor
facilities located at 11 Wall Street in New York City would close and
the Exchange would move, on a temporary basis, to fully electronic
trading.\8\ Pursuant to Rule 7.1(e), the CEO notified the Board of
Directors of the Exchange of this determination.
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    \8\ The Exchange's current rules establish how the Exchange will
function fully-electronically. The CEO also closed the NYSE American
Options Trading Floor, which is located at the same 11 Wall Street
facilities, and the NYSE Arca Options Trading Floor, which is
located in San Francisco, CA. See Press Release, dated March 18,
2020, available here: https://ir.theice.com/press/press-releases/all-categories/2020/03-18-2020-204202110.
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    Because the Trading Floor is temporarily closed, Floor brokers are
not present on the Trading Floor and do not have access to their Floor-
based systems for trading and cannot enter orders available to Floor
brokers, such as Closing D Orders. Unlike Market-on-Close (``MOC'') and
Limit-on-Close (``LOC'') Orders, Closing D Orders can be entered into
Exchange systems up to ten seconds before the end of Core Trading
Hours.\9\ By contrast, MOC and LOC Orders can be entered in the last
ten minutes of trading only to offset a published Regulatory Closing
Imbalance.\10\ Accordingly, while the Trading Floor is closed,
customers of Floor brokers seeking to participate in the Closing
Auction must arrange to have their closing-only interest entered before
3:50 p.m.
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    \9\ See Rule 7.35B(f)(3).
    \10\ See Rule 7.35B(f)(1).
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    Notwithstanding the temporary closure of the Trading Floor, Floor
brokers continue to provide services to their institutional investor
customers. For such customers, Floor brokers continue to play an
important role for those transactions that require the expertise of a
professional trading agent, and a key component of that role as agent
for these sophisticated customers is to provide market ``color,''
including providing imbalance information leading into the close.
However, because Floor brokers do not have access to their Floor-based
systems, they no longer have access to the systems that display Auction
Imbalance Information, as provided for under Rule 7.35B(e)(1)(B). As
such, during this temporary period, Floor brokers are no longer able to
provide their customers with the same level of market color about the
Closing Auction as they would when the Trading Floor is open.
Proposed Rule Change
    Both Floor brokers and their customers have requested that, during
the temporary period while the Trading Floor is closed, be provided
access to Auction Imbalance before 3:50 p.m. so that Floor brokers can
provide a similar level of service that they provide when the Trading
Floor is open. The Exchange has been advised that Floor brokers' lack
of access to imbalance information is particularly impactful because
Floor brokers cannot use Closing D Orders during this temporary period,
and Floor broker customers need to enter their closing-only interest
before 3:50 p.m. if they want to participate in the Closing Auction.
    The Exchange has identified a temporary, interim technology
solution to provide Floor brokers with Auction Imbalance Information
before the Closing Auction Imbalance Freeze Time so that Floor brokers
can continue to provide the type of service to their customers that
they provided before the Trading Floor was temporarily closed.
Specifically, the Exchange proposes to temporarily change the NYSE
Pillar Trade Ops Portal to make the Closing Auction Imbalance
Information available on that portal beginning at 3:00 p.m., rather
than at the Closing Auction Imbalance Freeze Time at 3:50 p.m. Because
the NYSE Pillar Trade Ops Portal is available to all member
organizations, any User authorized to access the portal, including non-
Floor brokers, would have access to this Auction Imbalance Information
beginning at 3:00 p.m.
    Because the Exchange would be leveraging different technology, the
Auction Imbalance Information would differ from what is available to
Floor brokers on the Trading Floor pursuant to Rule 7.35B(e)(1)(B). As
described above, the portal would include Total Imbalance, Side of
Total Imbalance, and Paired Quantity, which are provided under Rule
7.35B(e)(1)(B), and would also include Continuous Book Clearing Price
and Closing Interest Only Clearing Price, which are not provided under
Rule 7.35B(e)(1)(B). In addition, the portal does not support Unpaired

Quantity or Side of Unpaired Quantity, which are provided under Rule
7.35B(e)(1)(B).
    As described above, the Exchange provides data pursuant to Rule
7.35B(e)(1)(B) in a manner that does not permit electronic
redistribution. Auction Imbalance Information made available before the
Closing Auction Imbalance Freeze Time would be similarly limited. To
view the data on the NYSE Pillar Trade Ops Portal, a User must manually
query the tool, and the data is updated only every 30 seconds. Once the
data is updated on a 30-second interval, the tool overwrites the last
set of data that was available for display. The tool permits export of
the data to an Excel file, but that export must be performed manually,
and it only exports the static information that is available to be
viewed at that given time. Accordingly, the NYSE Pillar Trade Ops
Portal does not permit real-time electronic redistribution of the data.
The purpose of this proposed rule change is to provide Floor brokers
with a tool to provide preliminary guidance to their customers of
whether to enter MOC or LOC Orders, and on which side of the market,
earlier in the trading session. It would not replace or supersede the
data that is distributed via the Exchange's proprietary data feeds
beginning at the Closing Auction Imbalance Freeze Time.
    Finally, this Auction Imbalance Information would be available
beginning at 3:00 p.m., not 2:00 p.m. This proposed time period is
consistent with the period when Auction Imbalance Information is made
available on NYSE Arca, Inc. (``NYSE Arca'') \11\ and NYSE American LLC
(``NYSE American''), which both operate electronic auctions without a
Trading Floor.\12\ For example, NYSE American similarly restricts entry
of MOC and LOC Orders after 3:50 p.m.,\13\ and makes its Auction
Imbalance Information available beginning at 3:00 p.m. The Exchange
believes that providing such imbalance information beginning at 3:00
p.m. during this temporary period would provide sufficient time for
member organizations and their customers to enter MOC and LOC Orders
before the Closing Auction Imbalance Freeze Time.
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    \11\ See NYSE Arca Rule 7.35-E(d)(1).
    \12\ See NYSE American Rule 7.35E(d)(1).
    \13\ See NYSE American Rule 7.35E(d)(2).
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    To effect this change, the Exchange proposes to add Commentary .02
to Rule 7.35B, which would provide:

    For a temporary period that begins on May 6, 2020 and ends on
the earlier of the reopening of the Trading Floor facilities or
after the Exchange closes on May 15, 2020, beginning one hour before
the end of Core Trading Hours up to the Closing Auction Imbalance
Freeze Time, the Exchange will make available Total Imbalance, Side
of Total Imbalance, Paired Quantity, Continuous Book Clearing Price,
and Closing Interest Only Clearing Price to member organizations.
This Auction Imbalance Information will be provided in a manner that
does not permit electronic real-time distribution and will be
updated every 30 seconds.

    At the Closing Auction Imbalance Freeze Time, Auction Imbalance
Information for the Closing Auction would be made available as provided
for under Rule 7.35B(e)(1)(A). Accordingly, this proposed rule text
addresses only what would be different during the temporary period
while the Trading Floor is closed, i.e., that specified Auction
Imbalance Information would be available to member organizations for
the period 3:00 p.m. to 3:50 p.m. Eastern Time.
    The Exchange has tested the technology change to begin
disseminating such Auction Imbalance Information via the NYSE Pillar
Trade Ops Portal at 3:00 p.m. Eastern Time. In addition, when the
Trading Floors were temporarily closed, numerous Floor brokers received
authorization to become Users of the NYSE Pillar Trade Ops Portal, and
therefore already have connectivity to that portal to access Auction
Imbalance Information. Accordingly, the Exchange would be able to
implement the proposed rule change immediately when the technology is
available, which is anticipated for May 6, 2020.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the
Act,\14\ in general, and furthers the objectives of Section 6(b)(5) of
the Act,\15\ in particular, in that it is designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to foster cooperation and coordination
with persons engaged in facilitating transactions in securities, and to
remove impediments to and perfect the mechanism of a free and open
market and a national market system.
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    \14\ 15 U.S.C. 78f(b).
    \15\ 15 U.S.C. 78f(b)(5).
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    As a result of uncertainty related to the ongoing spread of COVID-
19, the U.S. equities markets are experiencing unprecedented market
volatility. In addition, social-distancing measures have been
implemented throughout the country, including in New York City, to
reduce the spread of COVID-19. Directly related to such social-
distancing measures, the CEO of the Exchange made a determination under
Rule 7.1(c)(3) that beginning March 23, 2020, the Trading Floor
facilities located at 11 Wall Street in New York City would close and
the Exchange would move, on a temporary basis, to fully electronic
trading.
    The Exchange believes that the proposed rule change would remove
impediments to and perfect the mechanism of a free and open market and
a national market system because, during the temporary period while the
Trading Floor is closed and Floor brokers do not have access to Auction
Imbalance Information as provided for in Rule 7.35B(e)(1)(B), providing
Auction Imbalance Information to member organizations via the NYSE
Pillar Trade Ops Portal beginning at 3:00 p.m. would allow Floor
brokers to provide their customers with similar levels of service with
respect to providing market color about the Closing Auction as they
would when the Trading Floor is open.
    The proposed rule change is designed to be an interim, temporary
solution that would be in effect only during the temporary period when
the Trading Floor is closed. Because of the temporary nature of the
proposed relief, the Exchange believes that it would remove impediments
to and perfect the mechanism of a free and open market and a national
market system to leverage existing technology rather than attempt to
reproduce the data that is provided to Floor brokers pursuant to Rule
7.35B(e)(1)(B) on the exact same terms. By using existing technology,
the Exchange can provide this service to Floor brokers on an expedited
basis.
    In addition, the Exchange believes that the proposed rule change
would remove impediments to and perfect the mechanism of a free and
open market and a national market system because during the temporary
period during which the Trading Floor is closed, Closing D Orders are
not available, and therefore, unless a Regulatory Closing Imbalance has
been published, MOC and LOC Orders must be entered by the Closing
Auction Imbalance Freeze Time. The Exchange therefore believes that
during this period when Closing D Orders are not available, providing
all member organizations with access to the Auction Imbalance
Information at 3:00 p.m. would assist them in making their closing-
interest order entry decisions before 3:50 p.m.
    The Exchange further believes that providing such information
beginning at 3:00 p.m. would remove impediments to and perfect the
mechanism of a free and open market and a national market

system because, similar to how NYSE American functions, providing such
imbalance information beginning 50 minutes before the Closing Auction
Imbalance Freeze Time would provide sufficient time for member
organizations to make order entry decisions for the Closing Auction.
    The Exchange also believes that it would remove impediments to and
perfect the mechanism of a free and open market and a national market
system to provide that the Auction Imbalance Information that would be
available on the NYSE Pillar Trade Ops Portal would not be provided in
a manner that permits electronic real-time distribution. This proposed
rule change is designed to provide Floor brokers with a tool to provide
guidance to their customers of whether to enter MOC or LOC Orders, and
on which side of the market. It would not replace or supersede the data
that is distributed via the Exchange's proprietary data feeds beginning
at the Closing Auction Imbalance Freeze Time.
    The Exchange believes that, by clearly stating that this relief
will be in effect through the earlier of the reopening of the Trading
Floor facilities or the close of the Exchange on May 15, 2020, market
participants will have advance notice that the Exchange would
disseminate Auction Imbalance Information via the NYSE Pillar Trade Ops
Tool beginning at 3:00 p.m. for only a temporary period.

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

    The Exchange does not believe that the proposed rule change would
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed rule change is
not designed to address any competitive issues but rather is designed
to provide Floor brokers with a tool to provide guidance to their
customers of whether to enter MOC or LOC Orders, and on which side of
the market, before the Closing Auction Imbalance Freeze Time. The
proposed rule change is designed to be in effect only during a
temporary period when the Exchange Trading Floor has been closed in
response to social-distancing measures designed to reduce the spread of
the COVID-19 virus and, as a result, Floor brokers do not have access
to information as provided for in Rule 7.35B(e)(1)(B) and cannot enter
Closing D Orders.

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

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

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

    Because the proposed rule change does not (i) significantly affect
the protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative for 30
days from the date on which it was filed, or such shorter time as the
Commission may designate, it has become effective pursuant to Section
19(b)(3)(A) of the Act \16\ and Rule 19b-4(f)(6) thereunder.\17\
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    \16\ 15 U.S.C. 78s(b)(3)(A).
    \17\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written
notice of its intent to file the proposed rule change, along with a
brief description and the text of the proposed rule change, at least
five business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission.
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    A proposed rule change filed under Rule 19b-4(f)(6) \18\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\19\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing. The Exchange believes
that waiver of the operative delay would be consistent with the
protection of investors and the public interest because the proposed
rule change is designed to be in effect only during a temporary period
when the Exchange Trading Floor has been closed in response to social-
distancing measures designed to reduce the spread of the COVID-19 virus
and Floor brokers, as a result, do not have access to their Floor-based
systems for trading and the information as provided for in Rule
7.35B(e)(1)(B) and cannot enter Closing D Orders. In addition, when the
Trading Floors were temporarily closed, numerous Floor brokers received
authorization to become Users of the NYSE Pillar Trade Ops Portal, and
therefore already have connectivity to that portal to access Auction
Imbalance Information. Moreover, the Exchange represents that it has
tested, and will be able to implement, the proposed interim technology
change on May 6, 2020. For the foregoing reasons, the Commission
believes that waiver of the operative delay is consistent with the
protection of investors and the public interest and has determined to
waive the 30-day operative date so that the proposal may take effect
upon filing.\20\
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    \18\ 17 CFR 240.19b-4(f)(6).
    \19\ 17 CFR 240.19b-4(f)(6)(iii).
    \20\ For purposes only of accelerating the operative date of
this proposal, the Commission has considered the proposed rule's
impact on efficiency, competition, and capital formation. 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \21\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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    \21\ 15 U.S.C. 78s(b)(2)(B).
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSE-2020-41 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSE-2020-41. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the

proposed rule change between the Commission and any person, other than
those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for website viewing and
printing in the Commission's Public Reference Room, 100 F Street NE,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change. Persons submitting
comments are cautioned that we do not redact or edit personal
identifying information from comment submissions. You should submit
only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSE-2020-41 and should be
submitted on or before June 2, 2020.
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    \22\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-10068 Filed 5-11-20; 8:45 am]
BILLING CODE 8011-01-P