[Federal Register: June 8, 2010 (Volume 75, Number 109)]
[Proposed Rules]
[Page 32317-32318]
[DOCID:fr08jn10-31]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2010-0453; Airspace Docket No. 10-AAL-14]

Proposed Revocation of Colored Federal Airway G-4; AK

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: This action proposes to remove Colored Federal Airway Green 4
(G-4) from the National Airspace System (NAS) in Alaska. The FAA is
proposing this action in preparation of the eventual decommissioning
from the NAS of the Wood River (BTS) Non-directional Beacon (NDB) near
the town of Dillingham, Alaska.

DATES: Comments must be received on or before July 23, 2010.

ADDRESSES: Send comments on this proposal to the U.S. Department of
Transportation, Docket Operations, M-30, 1200 New Jersey Avenue, SE.,
West Building Ground Floor, Room W12-140, Washington, DC 20590-0001;
telephone:<PHONE_NUMBER>. You must identify FAA Docket No. FAA-2010-
0453 and Airspace Docket No. 10-AAL-14 at the beginning of your
comments. You may also submit comments through the Internet at http://
www.regulations.gov.

FOR FURTHER INFORMATION CONTACT: Ken McElroy, Airspace and Rules Group,
Office of System Operations Airspace and AIM, Federal Aviation
Administration, 800 Independence Avenue, SW., Washington, DC 20591;
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-2010-0453 and Airspace Docket No. 10-AAL-14) and be submitted in
triplicate to the Docket Management Facility (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-2010-0453 and Airspace Docket No. 10-AAL-14.''
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/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 ADDRESSES section for 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 office of the Manager, Safety, Alaska Flight Service Operations,
Federal Aviation Administration, 222 West 7th Avenue, Box 14,
Anchorage, AK 99513.
    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 removing Colored Federal airway G-4
associated with the planned BTS NDB decommissioning near Dillingham,
AK. The BTS NDB has been non-operational for over two years.
    Colored Federal Airways are published in paragraph 6009 of FAA
Order 7400.9T signed August 27, 2009, and effective September 15, 2009,
which is incorporated by reference in 14 CFR 71.1. The Colored Federal
airway listed in this document will be published subsequently in the
Order.
    The FAA has determined that 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 Department of Transportation (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 that this proposed rule, when promulgated, will 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 United States Code. 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.
    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 would remove a colored Federal airway in Alaska.

Environmental Review

    This proposal will be subject to an environmental analysis in
accordance with FAA Order 1050.1E, ``Environmental Impacts: Policies
and Procedures,'' prior to any FAA final regulatory action.

List of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

The Proposed Amendment

    In consideration of the foregoing, 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 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 FAA Order
7400.9T, Airspace Designations and Reporting Points, signed August 27,
2009, and effective September 15, 2009, is amended as follows:

Paragraph 6009(a)--Green Federal Airways.

* * * * *

G-4 [Removed]

    Issued in Washington, DC, May 27, 2010.
Kenneth McElroy,
Acting Manager, Airspace and Rules Group.
[FR Doc. 2010-13609 Filed 6-7-10; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register: February 7, 2007 (Volume 72, Number 25)]
[Notices]
[Page 5777-5778]
[DOCID:fr07fe07-160]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55210; File No. SR-NYSE-2007-08]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Adopt New Rule 15B(T) Relating to Intermarket Sweep Orders

January 31, 2007.
    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 January 26, 2007, the New York Stock Exchange LLC
(``NYSE'' or the ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I and II, which Items have been substantially prepared by the
Exchange. NYSE has designated the proposed rule change as constituting
a ``non-controversial'' rule change under Section 19(b)(3)(A) of the
Act \4\ and Rule 19b-4(f)(6) thereunder,\5\ which renders the proposal
effective upon filing with the Commission. The Commission is publishing
this notice to solicit comments on the proposed rule change 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.
    \4\ 15 U.S.C. 78s(b)(3)(A).
    \5\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange is proposing to adopt NYSE Rule 15B(T), a temporary
rule which describes the obligations of Exchange member organizations
when sending Intermarket Sweep Orders (``ISOs'') to the Exchange prior
to the Trading Phase Date of Regulation NMS (``Reg. NMS''). The text of
the proposed rule change is available at NYSE, the Commission's Public
Reference Room, and http://www.nyse.com.

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. 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
    As part of its rollout of the Hybrid Market,\SM\ the Exchange is
set to begin implementation of Phase IV, which includes changes
necessary for NYSE's compliance with Reg. NMS. Specifically, the Phase
IV software will include the acceptance of ISOs and non-routing
immediate-or-cancel orders (``Reg. NMS IOCs''), auto-routing to 100-
share quotations, and implementation of new locking and crossing rules
approved by the Commission. The Phase IV rollout will occur in a
controlled manner through the Trading Phase Date, March 5, 2007.\6\
Following an initial successful period of trading, the Exchange will
deploy the Phase IV software on an accelerated basis, providing notice
to members and member organizations of the timing for each group of
securities migrating to Phase IV.
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    \6\ See Securities Exchange Act Release No. 55160 (January 24,
2007), available at http://www.sec.gov/rules/final/2007/34-55160.pdf

(extending the Trading Phase Date until March 5, 2007).
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    The Exchange seeks to amend its rules to require member
organizations that send ISOs to the Exchange prior to the Trading Phase
Date of Reg. NMS to simultaneously send an ISO (or comparable order)
for the full displayed size of the top of the book of every other ITS
participant displaying a better-priced quotation. This temporary rule
is intended to mirror the requirement, which will be operative after
the Trading Phase Date, that all incoming ISOs meet the requirements as
described in Rule 600(b)(30) of Reg. NMS,\7\ and is designed to ensure
that member organizations honor better-priced quotes of other ITS
participants when submitting ISOs to the Exchange prior to the Trading
Phase Date.\8\ The NYSE expects that this temporary rule will be in
effect only until the Trading Phase Date, at which time it will be
deleted from its rulebook.
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    \7\ 17 CFR 242.600(b)(30).
    \8\ See Telephone call between Craig Hammond, Managing Director,
NYSE, and Richard Holley III, Special Counsel, Division of Market
Regulation, Commission, dated January 29, 2007.

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    In addition, the NYSE notes that it has requested an exemption from
certain provisions of the Intermarket Trading System Plan and NYSE Rule
15A to allow the NYSE to implement the Reg. NMS Compliance aspects of
the Phase IV rollout prior to the Trading Phase Date.\9\
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    \9\ See Letter from Mary Yeager, Assistant Secretary, NYSE, to
Nancy M. Morris, Secretary, Commission, dated January 26, 2007.
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2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the requirement under Section 6(b)(5) of the Act \10\ that an
Exchange have rules that are designed to promote just and equitable
principles of trade, to remove impediments to and perfect the mechanism
of a free and open market and national market system, and, in general,
to protect investors and the public interest.
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    \10\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition 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

    The Exchange has neither solicited nor received written comments on
the proposed rule change.

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

    The proposed rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \11\ and Rule 19b-4(f)(6) thereunder \12\
because the proposal 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 if consistent with the protection of investors and the public
interest.\13\ NYSE has requested that the Commission waive the 30-day
operative delay and designate the proposed rule change effective
immediately. The Commission hereby grants the request.\14\ The
Commission believes that such waiver is consistent with the protection
of investors and the public interest because immediate effectiveness of
the proposed rule change will assist the Exchange in its efforts to
ensure that its member organizations honor better-priced quotations of
other ITS participants when they send ISOs to the Exchange for
execution.
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    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(6).
    \13\ Rule 19b-4(f)(6)(iii) under the Act requires that a self-
regulatory organization submit to the Commission written notice of
its intent to file the proposed rule change, along with a brief
description and text of the proposed rule change, at least five
business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission. NYSE
has satisfied the pre-filing requirement.
    \14\ For purposes only of waiving the 30-day operative delay of
the proposal, the Commission has considered the proposed rule's
impact on efficiency, competition, and capital formation. See 15
U.S.C. 78c(f).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.\15\
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    \15\ See 15 U.S.C. 78s(b)(3)(C).
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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 e-mail to<EMAIL_ADDRESS>Please include

File Number SR-NYSE-2007-08 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSE-2007-08. 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-NYSE-2007-08 and should be submitted on or before February 28, 2007.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\16\
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    \16\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-1942 Filed 2-6-07; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 80, Number 158 (Monday, August 17, 2015)]
[Notices]
[Pages 49288-49296]
[FR Doc No: 2015-20157]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75664; File No. SR-BATS-2015-56]

Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of
Filing of a Proposal To List and Trade Shares of the ProShares Managed
Futures Strategy ETF of the ProShares Trust Under BATS Rule 14.11 on
BATS Exchange, Inc.

August 11, 2015.
    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 July 30, 2015, BATS Exchange, Inc. (the ``Exchange'' or
``BATS'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \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 is proposing to list and trade shares of the ProShares
Managed Futures Strategy ETF (the ``Fund'') of the ProShares Trust (the
``Trust'') under BATS Rule 14.11(i) (``Managed Fund Shares''). The
shares of the Fund are referred to herein as the ``Shares.''
    The text of the proposed rule change is available at the Exchange's
Web site at www.batstrading.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 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 list and trade the Shares under BATS Rule
14.11(i), which governs the listing and trading of Managed Fund Shares
on the Exchange.\4\ The Fund will be an actively managed fund that
seeks to provide positive returns that are not directly correlated to
broad equity or fixed income markets.
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    \4\ The Commission approved BATS Rule 14.11(i) in Securities
Exchange Act Release No. 65225 (August 30, 2011), 76 FR 55148
(September 6, 2011) (SR-BATS-2011-018).
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    The Shares will be offered by the Trust, which was established as a
Delaware statutory trust on May 29, 2002. The Trust is registered with
the Commission as an open-end investment company and has filed a
registration statement on behalf of the Fund on Form N-1A
(``Registration Statement'') with the Commission.\5\ The Commodity
Futures Trading Commission (``CFTC'') has recently adopted substantial
amendments to CFTC Rule 4.5 relating to the permissible exemptions and
conditions for reliance on exemptions from registration as a commodity
pool operator. As a result of the instruments that will be held by the
Fund, the Adviser has registered as a Commodity Pool Operator (``CPO'')
and is also a member of the National Futures Association (``NFA''). The
Fund and ProShares Cayman Trust I, a wholly-owned subsidiary of the
Fund organized under the laws of the Cayman Islands (the ``Subsidiary''
as further described herein) will be subject to regulation by the CFTC
and NFA and additional disclosure, reporting and recordkeeping rules
imposed upon commodity pools.
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    \5\ See Registration Statement on Form N-1A for the Trust, dated
May 31, 2013 (File Nos. 333-89822 and 811-21114). The descriptions
of the Fund and the Shares contained herein are based, in part, on
information in the Registration Statement. The Commission has issued
an order granting certain exemptive relief to the Company under the
Investment Company Act of 1940 (15 U.S.C. 80a-1) (``1940 Act'') (the
``Exemptive Order''). See Investment Company Act Release No. 30562
(June 18, 2013) (File No. 812-14041).
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Description of the Shares and the Fund
    ProShare Advisors LLC is the investment adviser (``PSA'' or
``Adviser'') to the Fund. JPMorgan Chase Bank, National Association is
the administrator, custodian, fund account agent, index receipt agent
and transfer agent for the Trust. SEI Investments Distribution Co.
(``Distributor'') serves as the distributor for the Trust.
    BATS Rule 14.11(i)(7) provides that, if the investment adviser to
the investment company issuing Managed Fund Shares is affiliated with a
broker-dealer, such investment adviser shall erect a ``fire wall''
between the investment adviser and the broker-dealer with respect to
access to information concerning the composition and/or changes to such
investment company portfolio.\6\ In addition, Rule 14.11(i)(7) further
requires that personnel who make decisions on the investment company's
portfolio composition must be subject to procedures designed to prevent
the use and dissemination of material nonpublic information regarding
the applicable investment company portfolio. Rule 14.11(i)(7) is
similar to BATS Rule 14.11(b)(5)(A)(i), however, Rule 14.11(i)(7) in
connection with the establishment of a ``fire wall'' between the
investment adviser and the broker-dealer reflects the applicable open-
end fund's portfolio, not an underlying benchmark index, as is the case
with index-based funds. The Adviser is not a registered broker-dealer,
but is currently affiliated with a broker-dealer and, in the future may
be affiliated with other broker dealers. The Adviser personnel who make
decisions regarding the Fund's portfolio are subject to procedures
designed to prevent the use and dissemination of material nonpublic
information regarding the Fund's portfolio. In the event that (a) the
Adviser becomes a broker-dealer or newly affiliated with a broker-
dealer, or (b) any new adviser or sub-adviser is a broker-dealer or
becomes affiliated with a broker-dealer, it will implement a fire wall
with respect to its relevant

personnel or such broker-dealer affiliate, as applicable, regarding
access to information concerning the composition and/or changes to the
portfolio, and will be subject to procedures designed to prevent the
use and dissemination of material non-public information regarding such
portfolio.
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    \6\ An investment adviser to an open-end fund is required to be
registered under the Investment Advisers Act of 1940 (the ``Advisers
Act''). As a result, the Adviser and its related personnel are
subject to the provisions of Rule 204A-1 under the Advisers Act
relating to codes of ethics. This Rule requires investment advisers
to adopt a code of ethics that reflects the fiduciary nature of the
relationship to clients as well as compliance with other applicable
securities laws. Accordingly, procedures designed to prevent the
communication and misuse of non-public information by an investment
adviser must be consistent with Rule 204A-1 under the Advisers Act.
In addition, Rule 206(4)-7 under the Advisers Act makes it unlawful
for an investment adviser to provide investment advice to clients
unless such investment adviser has (i) adopted and implemented
written policies and procedures reasonably designed to prevent
violation, by the investment adviser and its supervised persons, of
the Advisers Act and the Commission rules adopted thereunder; (ii)
implemented, at a minimum, an annual review regarding the adequacy
of the policies and procedures established pursuant to subparagraph
(i) above and the effectiveness of their implementation; and (iii)
designated an individual (who is a supervised person) responsible
for administering the policies and procedures adopted under
subparagraph (i) above.
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ProShares Managed Futures Strategy ETF
    According to the Registration Statement, the Fund seeks to achieve
positive returns that are not directly correlated to broad equity or
fixed income markets. The Fund uses the S&P[supreg] Strategic Futures
Index as a performance benchmark (the ``Benchmark''). The Benchmark
seeks to reflect trends (in either direction) in the commodity, foreign
currency and fixed income markets by taking long or short positions in
the related futures contracts. While the Fund generally will seek
exposure to the commodity and financial markets included in the
Benchmark, the Fund is not an index tracking ETF and will generally
seek to enhance its performance by actively selecting investments for
the Fund with varying maturities from the underlying components of the
Benchmark.
    There can be no assurance that the Fund's performance will exceed
the performance of the Benchmark at any time. The Fund is not
sponsored, endorsed, sold or promoted by S&P[supreg]. S&P's[supreg]
only relationship to the Fund is the licensing of certain service marks
and service names of S&P[supreg] and of the Benchmark, which is
determined, composed and calculated by S&P[supreg] without regard to
the Fund's investment advisor or the Fund. S&P[supreg] has no
obligation to take the needs of the Fund's investment advisor or the
Fund into consideration in determining, composing or calculating the
Benchmark.
    Under normal market conditions,\7\ the Fund invests in a portfolio
of exchange-traded commodity futures contracts (``Commodity Futures
Contracts'') and exchange-traded currency and U.S. Treasury futures
contracts (``Financial Futures Contracts'') (collectively, ``Futures
Contracts'').
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    \7\ The term ``under normal market conditions'' includes, but is
not limited to, the absence of extreme volatility or trading halts
in the fixed income markets, futures markets or the financial
markets generally; operational issues causing dissemination of
inaccurate market information; or force majeure type events such as
systems failure, natural or manmade disaster, act of God, armed
conflict, act of terrorism, riot or labor disruption or any similar
intervening circumstance.
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    The Fund, in part through the Subsidiary, attempts to capture the
economic benefit derived from rising and declining trends based on the
price changes of these Futures Contracts. Each month, the Fund's
investments will generally be positioned long or short based on a
comparison of the recent returns of each Futures Contract with its own
seven-month weighted moving average return. To be ``long'' means to
hold or have long exposure to an asset with the expectation that its
value will increase over time. To be ``short'' means to sell or have
short exposure to an asset with the expectation that it will fall in
value. The Fund will benefit if it is long an asset that increases in
value or is short an asset that decreases in value. Conversely, the
Fund will be adversely impacted if it is long an asset that decreases
in value or short an asset that increases in value.
    The following table describes each of the commodities, currencies
and U.S. Treasuries underlying the futures contracts included in the
Benchmark as of June 30, 2015. The table also provides each
instrument's trading hours, exchange and ticker symbol. This table is
subject to change:

----------------------------------------------------------------------------------------------------------------
                                  Weight                        Weight
            Sector                 (%)         Component         (%)         Exchange        Trading hours \8\
----------------------------------------------------------------------------------------------------------------
Energy........................       6.99  Light Crude......       1.31  NYMEX (CME).....  6:00 p.m.-5: 15 p.m.
                                                                                next day.
                                           Heating Oil......       1.78  NYMEX (CME).....  6:00 p.m.-5: 15 p.m.
                                                                                next day.
                                           RBOB Gasoline....      1.64%  NYMEX (CME).....  6:00 p.m.-5: 15 p.m.
                                                                                next day.
                                           Natural Gas......      2.26%  NYMEX (CME).....  6:00 p.m.-5: 15 p.m.
                                                                                next day.
Industrial Metals.............      3.64%  Copper...........      3.64%  COMEX (CME).....  6:00 p.m.-5: 15 p.m.
                                                                                next day.
Precious Metals...............      3.87%  Gold.............      3.37%  COMEX (CME).....  6:00 p.m.-5: 15 p.m.
                                                                                next day.
                                           Silver...........      1.76%  COMEX (CME).....  6:00 p.m.-5: 15 p.m.
                                                                                next day.
Livestock.....................      8.72%  Lean Hogs........      3.95%  CME.............  10:05 a.m.-2:55 p.m.;
                                                                                Daily trading halts:
                                                                                5:00 p.m.-6:00p.m.
                                           Live Cattle......      4.77%  CME.............  10:05 a.m.-2:55 p.m.
                                                                                Daily trading halts
                                                                                5:00 p.m.-6:00 p.m.
----------------------------------------------------------------------------------------------------------------

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

    \8\ All times are E.T., inclusive of electronic and open outcry
trading sessions, as applicable.

                                                  Index Weights
----------------------------------------------------------------------------------------------------------------
                                  Weight                        Weight
            Sector                 (%)         Component         (%)         Exchange          Trading hours
----------------------------------------------------------------------------------------------------------------
Grains........................       8.60  Corn.............       2.73  CBOT (CME)......  8:00 p.m.-2:20 p.m.
                                                                                next day.
                                                                                Daily trading halt
                                                                                from 8:45 am to 9:30
                                                                                a.m.
                                           Soybeans.........       3.10  CBOT (CME)......  8:00 p.m.-2:20 p.m.
                                                                                next day.
                                                                                Daily trading halt
                                                                                from 8:45 a.m. to
                                                                                9:30 a.m.
                                           Wheat............       2.77  CBOT (CME)......  8:00 p.m.-2:20 p.m.
                                                                                next day.
                                                                                Daily trading halt
                                                                                from 8:45 a.m. to
                                                                                9:30 a.m.
Softs.........................      13.01  Coffee...........       2.11  ICE.............  4:15 a.m.-1:30 p.m.
                                           Cocoa............       4.76  ICE.............  4:45 a.m.-1:30 p.m.
                                           Sugar............       2.72  ICE.............  3:30 a.m.-1:00 p.m.
                                           Cotton...........       3.42  ICE.............  9:00 p.m.-2:20 p.m.
                                                                                next day.
Australian Dollar.............       4.37  Australian Dollar  .........  CME.............  6:00 p.m.-5:15 p.m.
                                                                                next day.
British Pound.................       6.28  British Pound....  .........  CME.............  6:00 p.m.-5:15 p.m.
                                                                                next day.
Canadian Dollar...............       4.73  Canadian Dollar..  .........  CME.............  6:00 p.m.-5:15 p.m.
                                                                                next day.
Euro..........................       4.56  Euro.............  .........  CME.............  6:00 p.m.-5:15 p.m.
                                                                                Next day.

Japanese Yen..................       5.95  Japanese Yen.....  .........  CME.............  6:00 p.m.-5:15 p.m.
                                                                                Next day.
Swiss Franc...................       3.39  Swiss Franc......  .........  CME.............  6:00 p.m.-5:15 p.m.
                                                                                Next day.
U.S. Treasury Notes \9\.......      14.58  U.S. Treasury      .........  CBOT (CME)......  6:00 p.m.-5:00 p.m.
                                            Notes.                                          Next day.
U.S. Treasury Bonds \10\......      10.04  U.S. Treasury      .........  CBOT (CME)......  6:00 p.m.-5:00 p.m.
                                            Bonds.                                          Next day.
                                      100  .................        100
----------------------------------------------------------------------------------------------------------------

    In order to achieve its investment objective, the Fund will invest
in: (i) Futures Contracts; \11\ and/or (ii) under limited circumstances
(as further described herein), swap agreements whose value is derived
from the level of the Benchmark, other indexes, one or more futures
contracts or their underlying reference assets. The Fund may also
invest up to 100% of its assets in cash or cash equivalents such as
U.S. Treasury securities or other high credit quality short-term fixed-
income or similar securities (including shares of money market funds,
bank deposits, bank money market accounts, certain variable rate-demand
notes, and repurchase agreements collateralized by government
securities) for direct investment or as collateral for the Futures
Contracts or swap agreements.
---------------------------------------------------------------------------

    \9\ ``U.S. Treasury Notes'' refers to 10 year U.S. Treasury Note
futures.
    \10\ ``U.S. Treasury Bonds'' refers to those futures with
underlying bonds of a remaining term to call or maturity of 15-25
years.
    \11\ Futures Contracts will be the same type of contracts as the
Index Components, but the expiration dates of such Futures Contracts
may differ from the expiration dates of the Index Components at any
given point in time.
---------------------------------------------------------------------------

    The Adviser does not expect that the Fund will invest directly in
any commodity or currency. In the event position accountability rules
or position limits with respect to a Futures Contract are reached with
respect to a Fund, the Adviser may, in its commercially reasonable
judgment, obtain exposure through swaps whose value is derived from the
level of the Benchmark, other Indexes, one or more Futures Contracts or
their underlying reference assets, or invest in other futures contracts
or swaps if such instruments tend to exhibit trading prices or returns
that will further the investment objective of the Fund.\12\ The Fund
may also invest in swaps if the market for a specific Futures Contract
experiences emergencies (e.g., natural disaster, terrorist attack, or
an act of God) or disruptions (e.g., a trading halt or a flash crash)
that would prevent the Fund from obtaining the appropriate amount of
investment exposure to the affected Futures Contracts or other futures
contracts directly.\13\
---------------------------------------------------------------------------

    \12\ To the extent practicable, the Fund will invest in swaps
cleared through the facilities of a centralized clearing house.
    \13\ The Adviser will also attempt to mitigate the Fund's credit
risk by transacting only with large, well-capitalized institutions
using measures designed to determine the creditworthiness of a
counterparty. The Adviser will take various steps to limit
counterparty credit risk, as described in the Registration
Statement.
---------------------------------------------------------------------------

    According to the Registration Statement, the Fund will invest a
substantial portion of its assets in fixed income securities that
include U.S. government and agency securities, money market
instruments,\14\ overnight and fixed-term repurchase agreements, cash
and other cash equivalents. The Fund will use the fixed-income
securities as investments and to meet asset coverage tests resulting
from the Subsidiary's derivative exposure on a day-to-day basis. As a
whole, the Fund's investments are meant to achieve its investment
objective within the limitations of the federal tax requirements
applicable to regulated investment companies.
---------------------------------------------------------------------------

    \14\ The Fund may invest in shares of money market funds to the
extent permitted by the 1940 Act.
---------------------------------------------------------------------------

    The Fund expects to gain exposure to certain of these investments
by investing a portion of its assets in the Subsidiary. The Subsidiary
will be advised by the Adviser.\15\ The Fund's investment in the
Subsidiary is intended to provide the Fund with exposure to markets (in
general, the commodity markets) within the limits of current federal
income tax laws applicable to investment companies such as the Fund,
which limit the ability of investment companies to invest directly in
certain Futures Contracts. The Subsidiary will have the same investment
objective as the Fund. Except as otherwise noted, references to the
Fund's investments may also be deemed to include the Fund's indirect
investments through the Subsidiary. The Fund will invest up to 25% of
its total assets in the Subsidiary.
---------------------------------------------------------------------------

    \15\ The Subsidiary is not registered under the 1940 Act and is
not directly subject to its investor protections, except as noted in
the Registration Statement. However, the Subsidiary is wholly-owned
and controlled by the Fund and is advised by the Adviser. Therefore,
because of the Fund's ownership and control of the Subsidiary, the
Subsidiary would not take action contrary to the interests of the
Fund or its shareholders. The Fund's Board of Trustees (``Board'')
has oversight responsibility for the investment activities of the
Fund, including its expected investment in the Subsidiary, and the
Fund's role as the sole shareholder of the Subsidiary. The Adviser
receives no additional compensation for managing the assets of the
Subsidiary. The Subsidiary will also enter into separate contracts
for the provision of custody, transfer agency, and accounting agent
services with the same or with affiliates of the same service
providers that provide those services to the Fund.
---------------------------------------------------------------------------

    The Fund intends to qualify each year as a regulated investment
company (a ``RIC'') under Subchapter M of the Internal Revenue Code of
1986, as amended.\16\ The Fund will invest its assets (including via
the Subsidiary), and otherwise conduct its operations, in a manner that
is intended to satisfy the qualifying income, diversification and
distribution requirements necessary to establish and maintain RIC
qualification under Subchapter M. Aside from its investments in the
Subsidiary, The Fund will not invest in options or non-U.S. equity
securities.
---------------------------------------------------------------------------

    \16\ 26 U.S.C. 851.
---------------------------------------------------------------------------

Additional Information Regarding the Benchmark
    Developed by S&P[supreg] and launched on August 14, 2014, the
Benchmark is a long/short rules-based investable index that seeks to
capture the economic benefit derived from both rising and declining
trends in futures prices. The Benchmark is typically composed of
futures contracts representing unleveraged long or short positions in
the commodity and financial markets.
    The weight assigned to each futures contract in the Benchmark is
determined on a monthly basis, and implemented each month in an index
rebalancing. Weights are determined using a proprietary risk-weighting
methodology that measures the risk exposure of the futures contracts
included in the Benchmark and then weights each futures contract so
that it

contributes the same level of risk to the Benchmark.
    The Benchmark's exposure to futures contracts are not long-only,
but are either short or long based on a comparison of the price change
in the contract during the most recent month to a seven-month
exponential weighted moving average price change of that contact.
During the monthly rebalancing, the Benchmark also ``rolls'' certain of
its positions in futures contracts from the current contract to a
contract further from settlement.
    Each month, S&P[supreg] will determine whether a futures contract
that is a part of the Benchmark should be either a long or short
position by comparing the price change of the most recent month (the
``First Month Price Change'') of the futures contract to the seven-
month exponential weighted moving average price change (the ``Seven
Month Price Change''). Long positions are tracked when a futures
contract's First Month Price Change is greater than or equal to the
Seven Month Price Change. Short positions are tracked when a futures
contract's First Month Price Change is less than the Seven Month Price
Change. The First Month Price Change of each futures contract is
calculated by calculating the percentage difference of each futures
contract's price on the last PDD (as defined below) relative to the
current PDD.
    When calculating the Seven Month Price Change, each month's price
input is represented as the monthly percentage change of a futures
contract price which is calculated in the same manner as the First
Month Price Change. Monthly positions are determined on the second to
last Benchmark business day of the month (defined as the position
determination date, or ``PDD'') when the monthly percentage change of a
futures contract's price is compared to past monthly price changes,
exponentially weighted to give greatest weight to the most recent
return and least weight to the return seven months prior. The weighted
sum of the percentage changes of all futures contract prices in the
Benchmark equals the daily movement of the Benchmark. To create an
exponential average for comparison, price inputs (percentage change
from current and previous PDDs) are weighted per the schedule below.
Due to this weighting methodology, current price movements are more
important than those of the more distant past.
    During this monthly rebalancing, the Benchmark will also ``roll''
certain of its positions from the current contract to a contract
further from settlement. In order to maintain consistent exposure to
the futures contracts that compose the Benchmark, each futures contract
must be sold prior to its expiration date and replaced by a contract
maturing at a specified date in the future. This process is known as
``rolling.'' The futures contracts that are a part of the Benchmark are
rolled periodically. The rolls are implemented pursuant to a roll
schedule over a five-day period from the first (1st) through the fifth
(5th) index business days of the month. An index business day is any
day on which the majority of the futures contracts included in the
Benchmark are open for official trading and official settlement prices
are provided, excluding holidays and weekends.
    In order to mitigate the potential negative impact of contango on
long commodity positions, certain futures contracts in commodities will
be rolled according to an ``enhanced'' rolling methodology. This
methodology seeks to modify the normal roll methodology for futures
contracts in the energy sector when such long position would be
materially and negatively impacted by contango. In addition, the
methodology identifies seasonal factors applicable to both the energy
and agricultural futures markets and implements a modified roll to
mitigate potential costs of such seasonal impacts.
Other Portfolio Holdings
    In addition to the instruments described above, the Fund will
invest in money market instruments \17\ in a manner consistent with its
investment objective in order to generate additional returns, to help
manage cash flows in and out of the Fund, such as in connection with
payment of dividends or expenses, to satisfy margin requirements, and
to provide collateral or to otherwise back investments Futures
Contracts.
---------------------------------------------------------------------------

    \17\ The specific money market instruments are Treasury
securities and repurchase agreements and, in the future, may include
money market fund shares.
---------------------------------------------------------------------------

Investment Restrictions
    The Fund may hold up to an aggregate amount of 15% of its net
assets in illiquid assets (calculated at the time of investment) deemed
illiquid by the Adviser \18\ under the 1940 Act.\19\ The Fund will
monitor its portfolio liquidity on an ongoing basis to determine
whether, in light of current circumstances, an adequate level of
liquidity is being maintained, and will consider taking appropriate
steps in order to maintain adequate liquidity if, through a change in
values, net assets, or other circumstances, more than 15% of the Fund's
net assets are held in illiquid assets. Illiquid assets include assets
subject to contractual or other restrictions on resale and other
instruments that lack readily available markets as determined in
accordance with Commission staff guidance.
---------------------------------------------------------------------------

    \18\ In reaching liquidity decisions, the Adviser may consider
the following factors: The frequency of trades and quotes for the
security; the number of dealers wishing to purchase or sell the
security and the number of other potential purchasers; dealer
undertakings to make a market in the security; and the nature of the
security and the nature of the marketplace trades (e.g., the time
needed to dispose of the security, the method of soliciting offers,
and the mechanics of transfer).
    \19\ The Commission has stated that long-standing Commission
guidelines have required open-end funds to hold no more than 15% of
their net assets in illiquid securities and other illiquid assets.
See Investment Company Act Release No. 28193 (March 11, 2008), 73 FR
14618 (March 18, 2008), footnote 34. See also, Investment Company
Act Release No. 5847 (October 21, 1969), 35 FR 19989 (December 31,
1970) (Statement Regarding ``Restricted Securities''); Investment
Company Act Release No. 18612 (March 12, 1992), 57 FR 9828 (March
20, 1992) (Revisions of Guidelines to Form N-1A). A fund's portfolio
security is illiquid if it cannot be disposed of in the ordinary
course of business within seven days at approximately the value
ascribed to it by the fund. See Investment Company Act Release No.
14983 (March 12, 1986), 51 FR 9773 (March 21, 1986) (adopting
amendments to Rule 2a-7 under the 1940 Act); Investment Company Act
Release No. 17452 (April 23, 1990), 55 FR 17933 (April 30, 1990)
(adopting Rule 144A under the Securities Act of 1933).
---------------------------------------------------------------------------

    The Fund's investments will be consistent with the Fund's
investment objective and will not be used to achieve leveraged or
inverse leveraged returns (i.e. two times or three times the Fund's
benchmark).
Net Asset Value
    According to the Registration Statement, the net asset value
(``NAV'') of the Shares of the Fund will be calculated by dividing the
value of the net assets of the Fund (i.e., the value of its total
assets less total liabilities) by the total number of Shares
outstanding. Expenses and fees, including the management and
administration fees, are accrued daily and taken into account for
purposes of determining NAV. The NAV of the Fund is generally
determined at 3:00 p.m. Eastern Time each business day when the
Exchange is open for trading. If the Exchange or market on which the
Fund's investments are primarily traded closes early, the NAV may be
calculated prior to its normal calculation time. Creation/redemption
transaction order time cutoffs (as further described below) would also
be accelerated.
    Securities and other assets are generally valued at their market
price using information provided by a pricing service or market
quotations. Certain short-term securities are valued on the basis of
amortized cost. Futures

Contracts are generally valued at their settlement price as determined
by the relevant exchange. The settlement value of the Fund's swap
agreements will be determined by applying the then-current disseminated
value for the Index Components to the terms of the Fund's swap
agreements. Repurchase agreements are generally valued at cost. U.S
government securities are generally priced at a quoted market price
from an active market, generally the midpoint between the bid/ask
quotes. For U.S. government securities that mature within sixty days,
amortized cost may be used to approximate fair value. Money market
funds would generally be valued at their current Net Asset Value per
share, typically $1.00 per share. Certain short-term debt securities
will be valued on the basis of amortized cost.
    When the Adviser determines that the price of a security or
derivative is not readily available or deems the price unreliable, it
may, in good faith, establish a fair value for that security or
derivative in accordance with procedures established by and under the
general supervision and responsibility of the Board. The use of a fair
valuation method may be appropriate if, for example, market quotations
do not accurately reflect fair value for an investment, a trading halt
closes an exchange or market early, or other events result in an
exchange or market delaying its normal close. The Adviser may consider
applying appropriate valuation methodologies, which may include
discounts of market value of similar freely traded securities, yields
to maturity, or any other appropriate method. In determining the
appropriate methodology, the Adviser may consider all relevant factors,
including, among other things: Fundamental analytical data; the types
of securities affected; pricing history of the security; whether dealer
quotations are available; liquidity of the market; news or other
events; and other factors the Adviser deems relevant.
    For more information regarding the valuation of Fund investments in
calculating the Fund's NAV, see the Registration Statement.
The Shares
    The Fund will issue and redeem Shares on a continuous basis at the
NAV per Share only in large blocks of a specified number of Shares or
multiples thereof (``Creation Units'') in transactions with authorized
participants who have entered into agreements with the Distributor. The
Adviser currently anticipates that a Creation Unit will consist of
25,000 Shares, though this number may change from time to time,
including prior to listing of the Shares. The exact number of Shares
that will constitute a Creation Unit will be disclosed in the
Registration Statement. Once created, Shares of the Fund trade on the
secondary market in amounts less than a Creation Unit.
    Although the Adviser anticipates that purchases and redemptions for
Creation Units will generally be executed on an all-cash basis, the
consideration for purchase of Creation Units of the Fund may consist of
an in-kind deposit of a designated portfolio of securities (including
any portion of such assets for which cash may be substituted) (i.e.,
the ``Deposit Assets''), and the ``Cash Component'' computed as
described below. Together, the Deposit Assets and the Cash Component
constitute the ``Fund Deposit,'' which represents the minimum initial
and subsequent investment amount for a Creation Unit of the Fund. The
specific terms surrounding the creation and redemption of shares are at
the discretion of the Adviser.
    The Deposit Assets and Fund Securities (as defined below), as the
case may be, in connection with a purchase or redemption of a Creation
Unit, generally will correspond pro rata, to the extent practicable, to
the assets held by the Fund.
    The Cash Component will be an amount equal to the difference
between the NAV of the Shares (per Creation Unit) and the ``Deposit
Amount,'' which will be an amount equal to the market value of the
Deposit Assets, and serve to compensate for any differences between the
NAV per Creation Unit and the Deposit Amount. The Fund generally offers
Creation Units partially or entirely for cash. PSA will make available
through the National Securities Clearing Corporation (``NSCC'') on each
business day, prior to the opening of business on the Exchange, the
list of names and the required number or par value of each Deposit
Security and the amount of the Cash Component to be included in the
current Fund Deposit (based on information as of the end of the
previous business day) for the Fund.
    The identity and number or par value of the Deposit Assets may
change pursuant to changes in the composition of the Fund's portfolio
as rebalancing adjustments and corporate action events occur from time
to time. The composition of the Deposit Assets may also change in
response to adjustments to the weighting or composition of the holdings
of the Fund.
    The Fund reserves the right to permit or require the substitution
of a ``cash in lieu'' amount to be added to the Cash Component to
replace any Deposit Security that may not be available in sufficient
quantity for delivery or that may not be eligible for transfer through
the Depository Trust Company (``DTC'') or the clearing process through
the NSCC.
    Except as noted below, all creation orders must be placed for one
or more Creation Units and must be received by the Distributor at a
time specified by the Adviser. Currently, such orders must be received
in proper form no later than 2:30 p.m. Eastern Time on the date such
order is placed in order for creation of Creation Units to be effected
based on the NAV of Shares of the Fund as next determined on such date
after receipt of the order in proper form. The ``Settlement Date'' is
generally the third business day after the transmittal date. On days
when the Exchange or the bond markets close earlier than normal, the
Fund may require orders to create or to redeem Creation Units to be
placed earlier in the day.
    Fund Deposits must be delivered through either the Continuous Net
Settlement facility of the NSCC, the Federal Reserve System (for cash
and government securities), through DTC (for corporate and municipal
securities), or through a central depository account, such as with
Euroclear or DTC, maintained by State Street or a sub-custodian (a
``Central Depository Account''), in any case at the discretion of the
Adviser, by an authorized participant. Any portion of a Fund Deposit
that may not be delivered through the NSCC, Federal Reserve System or
DTC must be delivered through a Central Depository Account.
    A standard creation transaction fee may be imposed to offset the
transfer and other transaction costs associated with the issuance of
Creation Units.
    Shares of the Fund may be redeemed only in Creation Units at their
NAV next determined after receipt of a redemption request in proper
form by the Distributor and only on a business day. PSA will make
available through the NSCC, prior to the opening of business on the
Exchange on each business day, the designated portfolio of securities
(including any portion of such securities for which cash may be
substituted) that will be applicable (subject to possible amendment or
correction) to redemption requests received in proper form on that day
(``Fund Securities''). The redemption proceeds for a Creation Unit
generally will consist of a specified amount of cash less a redemption
transaction fee. The Fund generally will redeem Creation Units entirely
for cash.

    A standard redemption transaction fee may be imposed to offset
transfer and other transaction costs that may be incurred by the Fund.
    Redemption requests for Creation Units of the Fund must be
submitted to the Distributor by or through an authorized participant by
a time specified by the Adviser. Currently, such requests must be
received no later than 10:45 a.m. Eastern Time on any business day, in
order to receive that day's NAV. The authorized participant must
transmit the request for redemption in the form required by the Fund to
the Distributor in accordance with procedures set forth in the
authorized participant agreement.
    Additional information regarding the Shares and the Fund, including
investment strategies, risks, creation and redemption procedures, fees
and expenses, portfolio holdings disclosure policies, distributions,
taxes and reports to be distributed to beneficial owners of the Shares
can be found in the Registration Statement or on the Web site for the
Fund (www.ProShares.com), as applicable.
Availability of Information
    The Fund's Web site, which will be publicly available prior to the
public offering of Shares, will include a form of the prospectus for
the Fund that may be downloaded. The Web sites will include additional
quantitative information updated on a daily basis, including, for the
Fund: (1) The prior business day's reported NAV, the closing market
price or the midpoint of the bid/ask spread at the time of calculation
of such NAV (the ``Bid/Ask price''),\20\ daily trading volume, and a
calculation of the premium and discount of the closing market price or
Bid/Ask Price against the NAV; and (2) data in chart format displaying
the frequency distribution of discounts and premiums of the daily
closing price against the NAV, within appropriate ranges, for each of
the four previous calendar quarters. Daily trading volume information
will be available in the financial section of newspapers, through
subscription services such as Bloomberg, Thomson Reuters, and
International Data Corporation, which can be accessed by authorized
participants and other investors, as well as through other electronic
services, including major public Web sites. On each business day,
before commencement of trading in Shares during Regular Trading Hours
\21\ on the Exchange, the Fund will disclose on its Web site the
identities and quantities of the portfolio Futures Contracts and other
assets (the ``Disclosed Portfolio'') held by the Fund that will form
the basis for the Fund's calculation of NAV at the end of the business
day.\22\ The Disclosed Portfolio will include, as applicable, the
names, quantity, exposure value (notional value + gains/losses), and
market value of the Futures Contracts and other assets held by the Fund
and the characteristics of such assets. The Web site and information
will be publicly available at no charge.
---------------------------------------------------------------------------

    \20\ The Bid/Ask Price of the Fund will be determined using the
midpoint of the highest bid and the lowest offer on the Exchange as
of the time of calculation of the Fund's NAV. The records relating
to Bid/Ask Prices will be retained by the Fund and its service
providers.
    \21\ Regular Trading Hours are 9:30 a.m. to 4:00 p.m. Eastern
Time.
    \22\ Under accounting procedures to be followed by the Fund,
trades made on the prior business day (``T'') will be booked and
reflected in NAV on the current business day (``T+1''). Accordingly,
the Fund will be able to disclose at the beginning of the business
day the portfolio that will form the basis for the NAV calculation
at the end of the business day.
---------------------------------------------------------------------------

    In addition, for the Fund, an estimated value, defined in BATS Rule
14.11(i)(3)(C) as the ``Intraday Indicative Value,'' that reflects an
estimated intraday value of the Fund's portfolio, will be disseminated.
Moreover, the Intraday Indicative Value will be based upon the current
value for the components of the Disclosed Portfolio and will be updated
and widely disseminated by one or more major market data vendors at
least every 15 seconds during the Exchange's Regular Trading Hours.\23\
In addition, the quotations of certain of the Fund's holdings may not
be updated during U.S. trading hours if such holdings do not trade in
the United States or if updated prices cannot be ascertained.
---------------------------------------------------------------------------

    \23\ Currently, it is the Exchange's understanding that several
major market data vendors display and/or make widely available
Intraday Indicative Values published via the Consolidated Tape
Association (``CTA'') or other data feeds.
---------------------------------------------------------------------------

    The dissemination of the Intraday Indicative Value, together with
the Disclosed Portfolio, will allow investors to determine the value of
the underlying portfolio of the Fund on a daily basis and provide an
estimate of that value throughout the trading day.
    Intraday price quotations on repurchase agreements and U.S.
Government securities of the type held by the Fund are available from
major broker-dealer firms and from third-parties, which may provide
prices free with a time delay, or ``live'' with a paid fee. For Futures
Contracts, such intraday information is available directly from the
applicable listing exchange. Intraday price information is also
available through subscription services, such as Bloomberg and Thomson
Reuters, which can be accessed by authorized participants and other
investors. Money market fund shares are not generally priced or quoted
on an intraday basis.
    Information regarding market price and volume of the Shares will be
continually available on a real-time basis throughout the day on
brokers' computer screens and other electronic services. The previous
day's closing price and trading volume information for the Shares will
be generally available daily in the print and online financial press.
Quotation and last sale information for the Shares will be available on
the facilities of the CTA.
Initial and Continued Listing
    The Shares will be subject to BATS Rule 14.11(i), which sets forth
the initial and continued listing criteria applicable to Managed Fund
Shares. The Exchange represents that, for initial and/or continued
listing, the Fund must be in compliance with Rule 10A-3 under the
Act.\24\ A minimum of 100,000 Shares will be outstanding at the
commencement of trading on the Exchange. The Exchange will obtain a
representation from the issuer of the Shares that the NAV will be
calculated daily and that the NAV and the Disclosed Portfolio will be
made available to all market participants at the same time.
---------------------------------------------------------------------------

    \24\ See 17 CFR 240.10A-3.
---------------------------------------------------------------------------

Trading Halts
    With respect to trading halts, the Exchange may consider all
relevant factors in exercising its discretion to halt or suspend
trading in the Shares the Fund. The Exchange will halt trading in the
Shares under the conditions specified in BATS Rule 11.18. Trading may
be halted because of market conditions or for reasons that, in the view
of the Exchange, make trading in the Shares inadvisable. These may
include: (1) The extent to which trading is not occurring in the
Futures Contracts and other assets composing the Disclosed Portfolio of
the Fund; or (2) whether other unusual conditions or circumstances
detrimental to the maintenance of a fair and orderly market are
present. Trading in the Shares also will be subject to Rule
14.11(i)(4)(B)(iv), which sets forth circumstances under which Shares
of the Fund may be halted.
Trading Rules
    The Exchange deems the Shares to be equity securities, thus
rendering trading in the Shares subject to the Exchange's existing
rules governing the trading of

equity securities. BATS will allow trading in the Shares from 8:00 a.m.
until 5:00 p.m. Eastern Time. The Exchange has appropriate rules to
facilitate transactions in the Shares during all trading sessions. As
provided in BATS Rule 11.11(a), the minimum price variation for quoting
and entry of orders in Managed Fund Shares traded on the Exchange is
$0.01, with the exception of securities that are priced less than
$1.00, for which the minimum price variation for order entry is
$0.0001.
Surveillance
    The Exchange believes that its surveillance procedures are adequate
to properly monitor the trading of the Shares on the Exchange during
all trading sessions and to deter and detect violations of Exchange
rules and the applicable federal securities laws. Trading of the Shares
through the Exchange will be subject to the Exchange's surveillance
procedures for derivative products, including Managed Fund Shares. The
Exchange may obtain information regarding trading in the Shares and the
underlying futures via the Intermarket Surveillance Group (``ISG'')
from other exchanges who are members or affiliates of the ISG or with
which the Exchange has entered into a comprehensive surveillance
sharing agreement.\25\ In addition, the Exchange is able to access, as
needed, trade information for certain fixed income instruments reported
to FINRA's Trade Reporting and Compliance Engine (``TRACE''). The
Exchange prohibits the distribution of material non-public information
by its employees.
---------------------------------------------------------------------------

    \25\ For a list of the current members and affiliate members of
ISG, see www.isgportal.com. The Exchange notes that not all
components of the Disclosed Portfolio for the Fund may trade on
markets that are members of ISG or with which the Exchange has in
place a comprehensive surveillance sharing agreement. The Exchange
also notes that all of the futures contracts in the Disclosed
Portfolio for the Fund will trade on markets that are a member of
ISG or with which the Exchange has in place a comprehensive
surveillance sharing agreement.
---------------------------------------------------------------------------

Information Circular
    Prior to the commencement of trading, the Exchange will inform its
members in an Information Circular of the special characteristics and
risks associated with trading the Shares. Specifically, the Information
Circular will discuss the following: (1) The procedures for purchases
and redemptions of Shares in Creation Units (and that Shares are not
individually redeemable); (2) BATS Rule 3.7, which imposes suitability
obligations on Exchange members with respect to recommending
transactions in the Shares to customers; (3) how information regarding
the Intraday Indicative Value is disseminated; (4) the risks involved
in trading the Shares during the Pre-Opening \26\ and After Hours
Trading Sessions \27\ when an updated Intraday Indicative Value will
not be calculated or publicly disseminated; (5) the requirement that
members deliver a prospectus to investors purchasing newly issued
Shares prior to or concurrently with the confirmation of a transaction;
and (6) trading information.
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    \26\ The Pre-Opening Session is from 8:00 a.m. to 9:30 a.m.
Eastern Time.
    \27\ The After Hours Trading Session is from 4:00 p.m. to 5:00
p.m. Eastern Time.
---------------------------------------------------------------------------

    In addition, the Information Circular will advise members, prior to
the commencement of trading, of the prospectus delivery requirements
applicable to the Fund. Members purchasing Shares from the Fund for
resale to investors will deliver a prospectus to such investors. The
Information Circular will also discuss any exemptive, no-action, and
interpretive relief granted by the Commission from any rules under the
Act.
    In addition, the Information Circular will reference that the Fund
is subject to various fees and expenses described in the Registration
Statement. The Information Circular will also disclose the trading
hours of the Shares of the Fund and the applicable NAV calculation time
for the Shares. The Information Circular will disclose that information
about the Shares of the Fund will be publicly available on the Fund's
Web site. In addition, the Information Circular will reference that the
Trust is subject to various fees and expenses described in the
Registration Statement.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with Section
6(b) of the Act \28\ in general and Section 6(b)(5) of the Act \29\ 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, 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.
---------------------------------------------------------------------------

    \28\ 15 U.S.C. 78f.
    \29\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change is designed to
prevent fraudulent and manipulative acts and practices in that the
Shares will be listed and traded on the Exchange pursuant to the
initial and continued listing criteria in BATS Rule 14.11(i). The
Exchange believes that its surveillance procedures are adequate to
properly monitor the trading of the Shares on the Exchange during all
trading sessions and to deter and detect violations of Exchange rules
and the applicable federal securities laws. If the investment adviser
to the investment company issuing Managed Fund Shares is affiliated
with a broker-dealer, such investment adviser to the investment company
shall erect a ``fire wall'' between the investment adviser and the
broker-dealer with respect to access to information concerning the
composition and/or changes to such investment company portfolio. The
Adviser is not a registered broker-dealer, but is affiliated with a
broker-dealer and has implemented a ``fire wall'' with respect to such
broker-dealer regarding access to information concerning the
composition and/or changes to the Fund's portfolio. The Exchange may
obtain information regarding trading in the Shares and the underlying
futures via the ISG from other exchanges who are members or affiliates
of the ISG or with which the Exchange has entered into a comprehensive
surveillance sharing agreement.\30\ In addition, the Exchange is able
to access, as needed, trade information for certain fixed income
instruments reported to FINRA's TRACE.
---------------------------------------------------------------------------

    \30\ See note 24, supra.
---------------------------------------------------------------------------

    According to the Registration Statement, the Fund expects that,
under normal circumstances, it will have at least 80% of its assets
invested, either directly or indirectly via the Subsidiary, in Futures
Contracts. The Fund also may invest its net assets in money market
instruments as collateral for the Futures Contracts and in order to
help manage cash flows in and out of the Fund.
    Additionally, the Fund may hold up to an aggregate amount of 15% of
its net assets in illiquid assets (calculated at the time of
investment). The Fund will monitor its portfolio liquidity on an
ongoing basis to determine whether, in light of current circumstances,
an adequate level of liquidity is being maintained, and will consider
taking appropriate steps in order to maintain adequate liquidity if,
through a change in values, net assets, or other circumstances, more
than 15% of the Fund's net assets are held in illiquid assets. Illiquid
assets include assets subject to contractual or other

restrictions on resale and other instruments that lack readily
available markets as determined in accordance with Commission staff
guidance.
    The proposed rule change is designed to promote just and equitable
principles of trade and to protect investors and the public interest in
that the Exchange will obtain a representation from the issuer of the
Shares that the NAV will be calculated daily and that the NAV and the
Disclosed Portfolio will be made available to all market participants
at the same time. In addition, a large amount of information is
publicly available regarding the Fund and the Shares, thereby promoting
market transparency. Moreover, the Intraday Indicative Value will be
disseminated by one or more major market data vendors at least every 15
seconds during Regular Trading Hours. On each business day, before
commencement of trading in Shares during Regular Trading Hours, the
Fund will disclose on its Web site the Disclosed Portfolio that will
form the basis for the Fund's calculation of NAV at the end of the
business day. Pricing information will be available on the Fund's Web
site including: (1) The prior business day's reported NAV, the Bid/Ask
Price of the Fund, and a calculation of the premium and discount of the
Bid/Ask Price against the NAV; and (2) data in chart format displaying
the frequency distribution of discounts and premiums of the daily Bid/
Ask Price against the NAV, within appropriate ranges, for each of the
four previous calendar quarters. Additionally, information regarding
market price and trading of the Shares will be continually available on
a real-time basis throughout the day on brokers' computer screens and
other electronic services, and quotation and last sale information for
the Shares will be available on the facilities of the CTA. The Web site
for the Fund will include a form of the prospectus for the Fund and
additional data relating to NAV and other applicable quantitative
information. Trading in Shares of the Fund will be halted under the
conditions specified in BATS Rule 11.18. Trading may also be halted
because of market conditions or for reasons that, in the view of the
Exchange, make trading in the Shares inadvisable. Finally, trading in
the Shares will be subject to BATS Rule 14.11(i)(4)(B)(iv), which sets
forth circumstances under which Shares of the Fund may be halted. In
addition, as noted above, investors will have ready access to
information regarding the Fund's holdings, the Intraday Indicative
Value, the Disclosed Portfolio, and quotation and last sale information
for the Shares.
    Intraday price quotations on repurchase agreements and U.S.
Government securities of the type held by the Fund are available from
major broker-dealer firms and from third-parties, which may provide
prices free with a time delay, or ``live'' with a paid fee. For Futures
Contracts, such intraday information is available directly from the
applicable listing exchange. Intraday price information is also
available through subscription services, such as Bloomberg and Thomson
Reuters, which can be accessed by authorized participants and other
investors. Money market fund shares are not generally priced or quoted
on an intraday basis.
    The proposed rule change is designed to perfect the mechanism of a
free and open market and, in general, to protect investors and the
public interest in that it will facilitate the listing and trading of
additional types of actively-managed exchange-traded product that will
enhance competition among market participants, to the benefit of
investors and the marketplace. As noted above, the Exchange has in
place surveillance procedures relating to trading in the Shares and may
obtain information via ISG from other exchanges that are members of ISG
or with which the Exchange has entered into a comprehensive
surveillance sharing agreement as well as trade information for certain
fixed income instruments as reported to FINRA's TRACE. In addition, as
noted above, investors will have ready access to information regarding
the Fund's holdings, the Intraday Indicative Value, the Disclosed
Portfolio, and quotation and last sale information for the Shares.
    For the above reasons, the Exchange believes that the proposed rule
change is consistent with the requirements of Section 6(b)(5) of the
Act.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purpose of the Act. The Exchange notes that the
proposed rule change, rather will facilitate the listing and trading of
additional actively-managed exchange-traded products that will enhance
competition among both market participants and listing venues, to the
benefit of investors and the marketplace.

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

    The Exchange has neither solicited nor received written comments on
the proposed rule change.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period (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
or disapprove such proposed rule change, or (b) institute proceedings
to determine whether the proposed rule change should be disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-BATS-2015-56 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-BATS-2015-56. 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 will also 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-BATS-2015-56 and should be submitted on or before
September 8, 2015.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\31\
---------------------------------------------------------------------------

    \31\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2015-20157 Filed 8-14-15; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register: August 21, 2009 (Volume 74, Number 161)]
[Notices]
[Page 42309-42310]
[DOCID:fr21au09-59]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2009-N-0391]

Clinical Investigator Training Course

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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

SUMMARY: The Food and Drug Administration's (FDA's) Office of Critical
Path Programs and the Clinical Trials Transformation Initiative (CTTI)
are co-sponsoring a 3-day training course for clinical investigators on
scientific, ethical, and regulatory aspects of clinical trials. This
training course is intended to provide investigators with expertise in
the design, conduct, and analysis of clinical trials; improve the
quality of clinical trials; and enhance the safety of trial
participants. Senior FDA staff will communicate directly with clinical
investigators on issues of greatest importance for successful clinical
research.

DATES: The training course will be held on November 16 and 17, 2009,
from 8 a.m. to 5 p.m. and on November 18, 2009, from 8 a.m. to 3:30
p.m.

ADDRESSES:  The course will be held at the National Labor College,
10000 New Hampshire Ave., Silver Spring, MD 20903.

FOR FURTHER INFORMATION CONTACT: Devota DeMarco, Office of Critical
Path Programs (HF-18), Office of the Commissioner, Food and Drug
Administration, 5600 Fishers Lane, Rockville, MD 20857,<PHONE_NUMBER>,
<EMAIL_ADDRESS>or
    Nancy Stanisic, Office of Critical Path Programs (HF-18), Office of
the Commissioner, Food and Drug Administration, 5600 Fishers Lane,
Rockville, MD 20857,<PHONE_NUMBER><EMAIL_ADDRESS>    Registration: Register by November 2, 2009, at the registration/
information Web site at https://www.trialstransformation.org/fda-
clinical-investigator-training-course/ or by fax at<PHONE_NUMBER>.
Registration materials, payment procedures, accommodation information,
and a detailed description of the course can be found at the
registration/information Web site. The registration fee is $300 per
person. The fee includes course materials and onsite lunch. Early
registration is recommended because seating is limited. There will be
no onsite registration. If you need special accommodations due to a
disability, please contact one of the persons listed in the FOR FURTHER
INFORMATION CONTACT section of this document.

SUPPLEMENTARY INFORMATION:

I. Background

    Clinical trial investigators play a critical role in the
development of medical products. They bear the responsibility for
ensuring the safe and ethical treatment of study subjects and for
acquiring adequate and reliable data to support regulatory decisions.
This course is intended to assist clinical investigators in
understanding what preclinical and clinical information is needed to
support the investigational use of medical products, as well as the
scientific, regulatory, and ethical considerations involved in the
conduct of clinical trials. The course will cover a wide variety of key
topics, including material on novel safety concerns, adverse event
monitoring, compliance with the legal and ethical obligations of
clinical research, and acceptable scientific and analytic standards in
the design and conduct of clinical studies. The faculty will include a
diverse representation of senior FDA staff, enabling FDA to communicate
directly with clinical investigators on issues of greatest importance
for successful clinical research.

II. Description of the Training Course

A. Purpose

    The training course is designed to provide clinical investigators
with an overview of the following topics:
     The essential toxicological, pharmacological, and
manufacturing data to support investigational use in humans;
     Fundamental issues in the design and conduct of clinical
trials;
     Statistical and analytic considerations in the
interpretation of trial data;
     Appropriate safety evaluation during studies; and
     The ethical considerations and regulatory requirements for
clinical trials.
    In addition, the course should:
     Foster a cadre of clinical investigators with knowledge,
experience, and commitment to investigational medicine;
     Promote communication between clinical investigators and
FDA;
     Enhance investigators' understanding of FDA's role in
experimental medicine; and
     Improve the quality of data while enhancing subject
protection in the performance of clinical trials.

B. Proposed Agenda

    The course will be conducted over 3 days and will comprise
approximately 26 lectures, each lasting between 30 and 45 minutes. Two
sessions of case studies will be included for which participants will
be expected to do preparatory reading and answer questions. The course
will be presented mainly by senior FDA staff, with guest lecturers
presenting selected topics.
    On day one, the course will address the role of FDA in clinical
studies, regulatory considerations for clinical trials, and review of
the material generally appearing in an ``investigator's brochure,''
i.e., the preclinical information (toxicology, animal studies, and
chemistry/manufacturing information) that supports initial clinical
trials in humans. Presentations will also discuss the role of clinical
pharmacology in early clinical studies and how this information is used
in the design of subsequent studies. Day two will include discussions
of scientific, statistical, ethical, and regulatory aspects of clinical
studies. Day three will include discussions of safety assessment in
clinical trials, including hepatic and cardiovascular safety,
approaches to special populations (e.g., pregnant women and
pediatrics), and the role of personalized medicine and new scientific
techniques in medical product development.

C. Target Audience

    The course is targeted at healthcare professionals responsible for,
or involved in, the conduct and/or design of clinical trials.

    Dated: August 14, 2009.
David Horowitz,
Assistant Commissioner for Policy.
[FR Doc. E9-20084 Filed 8-20-09; 8:45 am]

BILLING CODE 4160-01-S


[Federal Register Volume 83, Number 239 (Thursday, December 13, 2018)]
[Notices]
[Pages 64176-64177]
[FR Doc No: 2018-27008]

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DEPARTMENT OF TRANSPORTATION

Federal Railroad Administration

[Docket Number FRA-2018-0070]

Petition for Waiver of Compliance

    Under part 211 of Title 49 Code of Federal Regulations (CFR), this
provides the public notice that by letter dated August 21, 2018, the
Union Pacific Railroad Company (UP) petitioned the Federal Railroad
Administration (FRA) for a waiver of compliance from certain provisions
of the Federal railroad safety regulations contained at 49 CFR part
236. FRA assigned the petition Docket Number FRA-2018-0070.
    UP seeks a waiver of compliance from 49 CFR 236.1006, Equipping
locomotives operating in PTC territory. Specifically, UP requests
relief to operate UP Heritage Steam Locomotives UP 844, 4-8-4 Type--
1944; UP 4014, 4-8-8-4 Type--1941; and UP 3985, 4-6-6-4 Type--1943 for
excursion trips in positive train control (PTC) territory. UP states
these units are specifically designated and utilized on an extremely
limited number of excursion trips annually. Excursions utilizing this
equipment historically and continually involve the highest level of
preparation in planning and operational safety during operation, giving
special designation to each move. No less than two operators are
present at any given time ensuring continual functional safety
awareness during operational moves. UP explains they have been
operating steam powered excursions without PTC-initiated application
and have found no adverse mechanical effect on operational safety.
    A copy of the petition, as well as any written communications
concerning the petition, is available for review online at
www.regulations.gov and in person at the U.S. Department of
Transportation's Docket Operations Facility, 1200 New Jersey Avenue SE,
W12-140, Washington, DC 20590. The Docket Operations Facility is open
from 9 a.m. to 5 p.m., Monday through Friday, except Federal Holidays.
    Interested parties are invited to participate in these proceedings
by submitting written views, data, or comments. FRA does not anticipate
scheduling a public hearing in connection with these proceedings since
the facts do not appear to warrant a hearing. If any interested party
desires an opportunity for oral comment, they should notify FRA, in
writing, before the end of the comment period and specify the basis for
their request.
    All communications concerning these proceedings should identify the
appropriate docket number and may be submitted by any of the following
methods:
     Website: http://www.regulations.gov. Follow the online
instructions for submitting comments.
     Fax:<PHONE_NUMBER>.
     Mail: Docket Operations Facility, U.S. Department of
Transportation, 1200 New Jersey Avenue SE, W12-140, Washington, DC
20590.
     Hand Delivery: 1200 New Jersey Avenue SE, Room W12-140,
Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday,
except Federal Holidays.
    Communications received by January 28, 2019 will be considered by
FRA before final action is taken. Comments received after that date
will be considered if practicable.
    Anyone can search the electronic form of any written communications

and comments received into any of our dockets by the name of the
individual submitting the comment (or signing the document, if
submitted on behalf of an association, business, labor union, etc.). In
accordance with 5 U.S.C. 553(c), DOT solicits comments from the public
to better inform its processes. DOT posts these comments, without edit,
including any personal information the commenter provides, to
www.regulations.gov, as described in the system of records notice (DOT/
ALL-14 FDMS), which can be reviewed at www.dotransportation.gov/privacy. See also http://www.regulations.gov/#!privacyNotice for the
privacy notice of regulations.gov.

Robert C. Lauby,
Associate Administrator for Safety, Chief Safety Officer.
[FR Doc. 2018-27008 Filed 12-12-18; 8:45 am]
BILLING CODE 4910-06-P


[Federal Register: February 20, 2008 (Volume 73, Number 34)]
[Notices]
[Page 9314]
[DOCID:fr20fe08-53]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings 1

February 13, 2008.
    Take notice that the Commission has received the following Natural
Gas Pipeline Rate and Refund Report filings:
    Docket Numbers: RP08-193-000.
    Applicants: Columbia Gulf Transmission Company.
    Description: Columbia Gulf Transmission Company requests a two
month extension of time to 5/1/08 to file its Annual Transportation
Retainage Adjustment and one-time waiver of GTC Section 33.2 etc,
effective 6/1/08.
    Filed Date: 02/11/2008.
    Accession Number: 20080212-0107.
    Comment Date: 5 p.m. Eastern Time on Tuesday, February 19, 2008.

    Docket Numbers: RP08-194-000.
    Applicants: Ozark Gas Transmission, L.L.C.
    Description: Ozark Gas Transmission LLC submits Second Revised
Sheet 69 et al to FERC Gas Tariff, Original Volume 1, to become
effective 4/1/08.
    Filed Date: 02/11/2008.
    Accession Number: 20080212-0071.
    Comment Date: 5 p.m. Eastern Time on Monday, February 25, 2008.
    Any person desiring to intervene or to protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Rules of Practice and Procedure (18 CFR 385.211 and
385.214) on or before 5 p.m. Eastern time on the specified comment
date. It is not necessary to separately intervene again in a subdocket
related to a compliance filing if you have previously intervened in the
same docket. Protests will be considered by the Commission in
determining the appropriate action to be taken, but will not serve to
make protestants parties to the proceeding. Anyone filing a motion to
intervene or protest must serve a copy of that document on the
Applicant. In reference to filings initiating a new proceeding,
interventions or protests submitted on or before the comment deadline
need not be served on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov.
 To facilitate electronic service, persons with Internet

access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically should submit an original and
14 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First St. NE., Washington, DC 20426.
    The filings in the above proceedings are accessible in the
Commission's eLibrary system by clicking on the appropriate link in the
above list. They are also available for review in the Commission's
Public Reference Room in Washington, DC. There is an eSubscription link
on the Web site that enables subscribers to receive email notification
when a document is added to a subscribed dockets(s). For assistance
with any FERC Online service, please e-mail<EMAIL_ADDRESS>
or call<PHONE_NUMBER> (toll free). For TTY, call<PHONE_NUMBER>.

Nathaniel J. Davis, Sr.,
Deputy Secretary.
 [FR Doc. E8-3099 Filed 2-19-08; 8:45 am]

BILLING CODE 6717-01-P