[Federal Register Volume 77, Number 150 (Friday, August 3, 2012)]
[Rules and Regulations]
[Pages 46284-46285]
[FR Doc No: 2012-18923]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2012-0391; Airspace Docket No. 12-AGL-2]

Amendment of Class E Airspace; Lemmon, SD

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This action amends Class E airspace at Lemmon, SD. Additional
controlled airspace is necessary to accommodate new Area Navigation
(RNAV) Standard Instrument Approach Procedures at Lemmon Municipal
Airport. The airport's geographic coordinates also are adjusted. The
FAA is taking this action to enhance the safety and management of
Instrument Flight Rule (IFR) operations at the airport.

DATES: Effective date: 0901 UTC, November 15, 2012. The Director of the
Federal Register approves this incorporation by reference action under
1 CFR Part 51, subject to the annual revision of FAA Order 7400.9 and
publication of conforming amendments.

FOR FURTHER INFORMATION CONTACT: Scott Enander, Central Service Center,
Operations Support Group, Federal Aviation Administration, Southwest
Region, 2601 Meacham Blvd., Fort Worth, TX 76137; telephone 817-321-
7716.

SUPPLEMENTARY INFORMATION:

History

    On May 21, 2012, the FAA published in the Federal Register a notice
of proposed rulemaking (NPRM) to amend Class E airspace for the Lemmon,
SD, area, creating additional controlled airspace at Lemmon Municipal
Airport (77 FR 29920) Docket No. FAA-2012-0391. Interested parties were
invited to participate in this rulemaking effort by submitting written
comments on the proposal to the FAA. No comments were received. Class E
airspace designations are published in paragraph 6005 of FAA Order
7400.9V dated August 9, 2011, and effective September 15, 2011, which
is incorporated by reference in 14 CFR 71.1. The Class E airspace
designations listed in this document will be published subsequently in
the Order.

The Rule

    This action amends Title 14 Code of Federal Regulations (14 CFR)
Part 71 by amending Class E airspace extending upward from 700 feet
above the surface to accommodate new standard instrument approach
procedures at Lemmon Municipal Airport, Lemmon, SD. This action is
necessary for the safety and management of IFR operations at the
airport. Geographic coordinates are updated to coincide with the FAA's
aeronautical database.
    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current.
Therefore, this regulation: (1) Is not a ``significant regulatory
action'' under Executive Order 12866; (2) is not a ``significant rule''
under DOT Regulatory Policies and Procedures (44 FR 11034; February 26,
1979); and (3) does not warrant preparation of a regulatory evaluation
as the anticipated impact is so minimal. Since this is a routine matter
that will only affect air traffic procedures and air navigation, it is
certified that this 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 U.S. Code. Subtitle 1, 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
airspace necessary to ensure the safety of aircraft and the efficient
use of airspace. This regulation is within the scope of that authority
as it amends controlled airspace at Lemmon Municipal Airport, Lemmon,
SD.

Environmental Review

    The FAA has determined that this action qualifies for categorical
exclusion under the National Environmental Policy Act in accordance
with FAA Order 1050.1E, ``Environmental Impacts: Policies and
Procedures,'' paragraph 311a. This airspace action is not expected to
cause any potentially significant environmental impacts, and no
extraordinary circumstances exist that warrant preparation of an
environmental assessment.

List of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

Adoption of the Amendment

    In consideration of the foregoing, the Federal Aviation
Administration amends 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

0
1. The authority citation for 14 CFR part 71 continues to read as
follows:

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

Sec.  71.1  [Amended]

0
2. The incorporation by reference in 14 CFR 71.1 of the Federal
Aviation Administration Order 7400.9V, Airspace Designations and
Reporting Points, dated August 9, 2011, and effective September 15,
2011, is amended as follows:

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

* * * * *

AGL SD E5 Lemmon, SD [Amended]

Lemmon Municipal Airport, SD
    (Lat. 45[deg]55'06'' N., long. 102[deg]06'20'' W.)

    That airspace extending upward from 700 feet above the surface
within a 6.4-mile radius of Lemmon Municipal Airport; and that
airspace extending upward from 1,200 feet above the surface bounded
on the north by lat. 46[deg]10'00'' N., on the east by V-169, on the
south by lat. 45[deg]33'00'' N., and on the west by V-491,
northbound to lat. 45[deg]45'00'', thence eastbound to lat.
45[deg]45'00'' N., long. 102[deg]09'00'' W., thence northwest bound
to lat. 46[deg]10'00'' N., long. 102[deg]34'00'' W.;, and within a
30-mile radius of lat. 45[deg]47'29'' N., long. 101[deg]51'13'' W.

    Issued in Fort Worth, Texas, on July 25, 2012.
David P. Medina,
Manager, Operations Support Group, ATO Central Service Center.
[FR Doc. 2012-18923 Filed 8-2-12; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 77, Number 10 (Tuesday, January 17, 2012)]
[Notices]
[Pages 2302-2303]
[FR Doc No: 2012-639]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2012-N-0032]

Agency Information Collection Activities; Proposed Collection;
Comment Request; Antimicrobial Animal Drug Distribution Reports Under
Section 105 of the Animal Drug User Fee Amendments of 2008

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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SUMMARY: The Food and Drug Administration (FDA) is announcing an
opportunity for public comment on the proposed collection of certain
information by the Agency. Under the Paperwork Reduction Act of 1995
(the PRA), Federal Agencies are required to publish notice in the
Federal Register concerning each proposed collection of information,
including each proposed extension of an existing collection of
information and to allow 60 days for public comment in response to the
notice. This notice solicits comments on paperwork requirements for an
electronic form (e-form), to collect distribution reports for
antimicrobials in food producing animals.

DATES: Submit either electronic or written comments on the collection
of information by March 19, 2012.

ADDRESSES: Submit electronic comments on the collection of information
to http://www.regulations.gov. Submit written comments on the
collection of information to the Division of Dockets Management (HFA-
305), Food and Drug Administration, 5630 Fishers Lane, Rm. 1061,
Rockville, MD 20852. All comments should be identified with the docket
number found in brackets in the heading of this document.

FOR FURTHER INFORMATION CONTACT:  Denver Presley II, Office of
Information Management, Food and Drug Administration, 1350 Piccard Dr.,
PI50-400B, Rockville, MD 20850,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal
Agencies must obtain approval from the Office of Management and Budget
(OMB) for each collection of information they conduct or sponsor.
``Collection of information'' is defined in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) and includes Agency requests or requirements that members of
the public submit reports, keep records, or provide information to a
third party. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A))
requires Federal Agencies to provide a 60-day notice in the Federal
Register concerning each proposed collection of information before
submitting the collection to OMB for approval. To comply with this
requirement, FDA is publishing notice of the proposed collection of
information set forth in this document.
    With respect to the following collection of information, FDA
invites comments on these topics: (1) Whether the proposed collection
of information is necessary for the proper performance of FDA's
functions, including whether the information will have practical
utility; (2) the accuracy of FDA's estimate of the burden of the
proposed collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility, and clarity of the information to be collected; and (4) ways
to minimize the burden of the collection of information on respondents,
including through the use of automated collection techniques, when
appropriate, and other forms of information technology.

Antimicrobial Animal Drug Distribution Reports Under Section 105 of the
Animal Drug User Fee Amendments of 2008--Federal Food, Drug, and
Cosmetic Act, Section 512(l)(3) (OMB Control Number 0910-0659)--
Revision

    Section 105 of the Animal Drug User Fee Amendments of 2008 (ADUFA
II) (Public Law 316) amended section 512 of the Federal Food, Drug, and
Cosmetic Act (the FD&C Act) (21 U.S.C. 360b) by, among other things,
creating section 512(l)(3) to require that the sponsor of each new
animal drug that contains an antimicrobial agent submit an annual
report to FDA on the amount of each antimicrobial active ingredient in
the drug that is sold or distributed for use in food-producing animals,
including information on any distributor-labeled product. The
legislation was enacted to address the problem of antimicrobial
resistance and to help ensure that FDA has the necessary information to
examine safety concerns related to the use of antibiotics in food-
producing animals (154 Congressional Record H7534).
    Each report must specify: (1) The amount of each antimicrobial
active ingredient by container size, strength, and dosage form; (2)
quantities distributed domestically and quantities exported; and (3) a
listing of the target animals, indications, and production classes that
are specified on the approved label of the product. The first report
under the statute was to be submitted not later than March 31, 2010.
The report covered the period of the preceding calendar year and
included separate information for each month of the calendar year.
    We are now seeking to further implement the statutory requirements
of ADUFA II and enhance its public health and safety mission as
envisioned by Congress by introducing an electronic form for the
submission of the required annual reports under ADUFA II. The e-form
FDA 3744a will enable sponsors to submit electronically and capture all
information as mandated by Section 105 of ADUFA II. Form FDA 3744 will
continue to be designated for paper submissions.
    List of information required on form FDA 3744 and e-form FDA 3744a:

 Application Type
 Application Number
 Firm Name
 Dosage Form(s)
 Production Class(es)
 Animal Species--Food Animal or Food and Non-Food Animal
 Indications
 Active Ingredient(s)
 Domestic Quantities
    [cir] Unit of Measure for All Active Ingredients
    [cir] Calendar Year
    [cir] Quantity Sold by Month for All Active Ingredients
    [cir] Annual Total Sold for All Active Ingredients
 Export Quantities
    [cir] Unit of Measure for All Active Ingredients
    [cir] Calendar Year
    [cir] Quantity Sold by Month for All Active Ingredients
    [cir] Annual Total Sold for All Active Ingredients
 Individual Product Information for All Active Ingredients
    [cir] Dosage Form
    [cir] Container Size
    [cir] Container Units
    [cir] Active Ingredient Strength
 Quantities of Individual Products Sold or Distributed
(Domestic and Export)
    [cir] Unit of Measure for All Active Ingredients
    [cir] Quantity Sold by Month for All Active Ingredients
    [cir] Annual Total Sold for All Active Ingredients

    FDA estimates the burden of this collection of information as
follows:

                                                     Table 1--Estimated Annual Reporting Burden \1\
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                             Number of
   FD&C Act section 512(l)(3)          Form FDA No.          Number of     responses per   Total annual   Average burden    Total hours    Capital costs
                                                            respondents     respondent       responses     per response
--------------------------------------------------------------------------------------------------------------------------------------------------------
Annual Reports for Sponsors      3744...................              14             5.9              83              60           4,980          $6,975
 With Active Applications--
 Paper Submission.
Annual Reports for Sponsors      e-Form 3744a...........              12             6.7              80              50           4,000  ..............
 With Active Applications--
 Electronic Submission.
Annual Reports for Sponsors      3744...................              13             6.2              81               2             162  ..............
 With Inactive Applications--
 Paper Submission.
Annual Reports for Sponsors      e-Form 3744a...........              11             7.3              80               2             160  ..............
 With Inactive Applications--
 Electronic Submission.
                                ------------------------------------------------------------------------------------------------------------------------
    Total......................  .......................  ..............  ..............  ..............  ..............           9,302  ..............
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ There are no operating and maintenance costs associated with this collection of information.

    The total annual responses were calculated by multiplying the
number of respondents times the number of responses per respondent.
Total burden hours were calculated by multiplying total annual
responses times the average burden per response.
    As explained in the supporting statement for the subject collection
of information (OMB control number 0910-0659), the initial one-time
capital costs are for the design of the report. Here, e-form FDA 3744a
and reporting via the Electronic Submission Gateway are provided by
FDA. Thus, the remaining cost, as described in approved OMB control
number 0910-0659 is $6,975 per year (3 hours x $46.50 wage rate x 50
sponsors) = $6,975. FDA believes that the sponsors already possess the
computer equipment needed to prepare the report so that additional
capital expenditures will not be necessary.

                                                   Table 2--Estimated Annual Recordkeeping Burden \1\
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                                                                                Number of                       Average burden
                    Revised 21 CFR 514.80(b)(5)                         Number of       records per      Total annual         per          Total hours
                                                                      recordkeepers     recordkeeper       records       recordkeeping
--------------------------------------------------------------------------------------------------------------------------------------------------------
All Applicants.....................................................              34                1               34                2               68
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\1\ There are no capital costs or operating and maintenance costs associated with this collection of information.

    Total annual records were calculated by multiplying the number of
recordkeepers times the number of records per recordkeeper. Total hours
were calculated by multiplying total annual records times the average
burden per recordkeeping.

    Dated: January 10, 2012.
Leslie Kux,
Acting Assistant Commissioner for Policy.
[FR Doc. 2012-639 Filed 1-13-12; 8:45 am]
BILLING CODE 4160-01-P


Page 1 of 5 UNITED STATES ENVIRONMENTAL PROTECTION AGENCY WASHINGTON, D. C. 20460 OFFICE OF PREVENTION, PESTICIDES AND TOXIC SUBSTANCES MEMORANDUM DATE: 05/ 18/ 2004 SUBJECT: Phenol Dietary Exposure Assessments for the Reregistration Eligibility Decision PC Code:

REVIEWER: A. Najm Shamim, Ph. D, Chemist Regulatory Management Branch I Antimicrobials Division ( 7510C)

THROUGH: Tim McMahon, Ph. D., Senior Toxicologist Antimicrobials Division ( 7510C)

TO: Ben Chambliss, Team leader Regulatory Management Branch II Antimicrobials Division ( 7510C)

And Connie Welch, Chief Regulatory Management Branch II Antimicrobials Division ( 7510C) Page 2 of 5 I. Introduction Phenol and sodium phenate are antimicrobials that can be used as a disinfectant on counter tops and for odor elimination in rooms. There are two registered products that contain phenol and sodium phenate as active ingredients that may result in dietary exposure ( Table 1).

Table 1. Uses With Potential Dietary Exposure Use Formulation Associated Product Registration Numbers Disinfectant on Counter Tops Towelette wipe 8383 7 Liquid 8383 3 There are currently two products registered that can be used to disinfect counter tops in kitchens, among other areas. One product is a ready to use solution, while the other is a wettable disposable cloth that is impregnated with phenol and sodium phenate. A counter top that has been treated with either of these products may come into contact with food prepared on the counter top, which in turn may be ingested. Although neither product label states that it should be used on food preparation equipment, it is possible that food could be prepared or placed on treated kitchen counter tops before being eaten. No residue chemistry data were submitted by registrants, nor were any data asked for by the Agency, as these uses do not fall under the guidelines associated with residue chemistry ( OPPTS GLN 860.1300, OPPTS GLN 860.1340, OPPTS GLN 860.1500).

Dietary risk assessment incorporates both exposure and toxicity of a given pesticide. For acute and chronic assessments, the risk is expressed as a percentage of the acute or chronic Reference Dose value ( RfD). In general, the RfD is an estimate ( with uncertainty spanning perhaps an order of magnitude) of a daily exposure to the human population ( including sensitive subgroups) that is likely to be without an appreciable risk of deleterious effects during a lifetime. If a special hazard based factor is needed under the Food Quality Protection Act ( FQPA factor), the RfD is modified by division of the RfD value by the special FQPA factor to obtain a Population Adjusted Dose, or PAD. The PAD can be calculated for both the acute RfD ( aPAD) and chronic RfD ( cPAD). Dietary risk is then expressed as a percentage of the aPAD or cPAD in this case. For acute and chronic dietary exposures, the Agency is generally not concerned if the estimated dietary risk is below 100% of the calculated RfD or PAD.

II. Residue Information Review of the Agency's residue chemistry database does not show any residues on food or on any RACs. Therefore, no residue chemistry data and analyses are included in this dietary exposure chapter. Page 3 of 5 III. Toxicological Information On March 9, 2004, the Antimicrobials Division Toxicology Endpoint Selection Committee ( ADTC) reviewed the available Toxicology data for Phenol and discussed endpoint selection for use as appropriate in occupational/ residential exposure risk assessments. The potential for increased susceptibility of infants and children from exposure to phenol was also evaluated by the committee in order to meet the statutory requirements of the Food Quality Protection Act ( FQPA) of 1996.

The ADTC determined that for acute dietary risk, there was no appropriate endpoint for assessment of acute dietary exposure. This conclusion was based upon examination of the hazard data which might be used in support of such an endpoint. Body weight effects observed were not felt to be the result of a single exposure, and there were no other effects from the data that were considered reflective of an adverse effect from a single exposure. An Acute RfD value was not selected.

For chronic dietary risk, the ADTC cited the published chronic RfD value in EPA's Integrated Risk Information System ( IRIS) database. This Reference Dose value is based upon an unpublished developmental toxicity study conducted according to GLP guidelines ( Argus Research Laboratories, 1997). In this study, pregnant Crl: CDRBR VAF/ Plus Sprague Dawley rats ( 25 per group) received phenol by oral gavage on GDs 6 through 15. Dosing was three times daily with 0, 20, 40, or 120 mg phenol/ kg/ dosage using a dosing volume of 10 mL/ kg. The corresponding daily doses were 0, 60, 120, and 360 mg/ kg day. The authors noted that the test material was 90% phenol United States Pharmacopeia ( USP); the authors adjusted the dosage calculations for test material purity.

The chronic RfD value was calculated to be 0.6 mg/ kg/ day, using the developmental NOAEL value of 60 mg/ kg/ day and an uncertainty factor of 100 ( 10x interspecies extrapolation, 10x intraspecies variation). The ADTC determined that a special FQPA hazard based safety factor was not required for phenol, and could be reduced to 1x.

IV. Calculations Determining Estimated Daily Intake ( EDI) of a Pesticide Used as a Disinfectant The Agency has used the following equation to estimate the Estimated Daily Intake ( EDI) for Phenol and Sodium Phenate use as a disinfectant solution ( end use).

EDI = ( wash solution, mg/ cm2) x ( AR) ( wt. fraction of wash solution ) x MF( fraction of pesticide migrating to food) x SA( surface area of exposure)/ BW( 1)

Where EDI = Estimated Daily Intake, mg/ kg/ day) AR = Application Rate Page 4 of 5 SA = Surface area to containing the pesticide to which food is exposed MF = Fraction of pesticide migrating to food, assuming 10% BW = Body weight, adult male = 70 kg, adult female = 60 kg and a child = 15 kg Assuming the end use formulation contains 1.62% of Phenol and Sodium Phenate, using equation 1, the EDI will be:

EDI = ( mg/ cm2 ) x 1.62 % x 0.10 x 2000 cm2 / BW = 3.24/ BW = 3.24/ 70kg = 0.046 mg/ kg/ day for male adult = 3.24/ 60 kg = 0.054 mg/ kg/ day for a female adult = 3.24/ 15 kg = 0.216 mg/ kg/ day for a child In equation 1, if we assume that MF ( migration of pesticide to food) is 100%, the EDI's will be:

EDI = ( mg/ cm2) x 1.62 % x 100/ 100 x 2000 cm2 / BW = 32.4/ BW = 32.4/ 70kg = 0.46 mg/ kg/ day for a male adult = 32.4/ 60 kg = 0.54 mg/ kg/ day for a female adult = 32.4/ 15kg = 2.16 mg/ kg/ day for a child The Agency has determined that the disinfectant use of Phenol and Sodium Salt of Phenol as a room deodorizer ( second scenario) will not result in any dietary exposure and any adverse effect is not likely to occur.

For scenario 3, where phenol and sodium phenate are used in towelette, EPA contacted for Reg#: 8383 7 ( use of the product as a towelette). ( Sporicidin International, May 26, 2004). Industry has informed EPA that one towelette is used only once. Hence based on this information, the EDI and total dietary exposure/ person/ day will be the same as scenario 1 V. Discussion of Uncertainties The Agency has determined that by using 10% migration factor ( MF in equation 1), any adverse effect is indicated, the Agency will ask for a confirmatory data. Page 5 of 5 REFERENCES EPA, 1997. " Exposure Factors Handbook, Volume III: Activity Factors." EPA/ 600/ P 95/ 002Fc August 1997.

EPA, 1999. " Available Information on Assessing Exposure from Pesticides, A User's Guide." http:// www. epa. gov/ fedrgstr/ EPA PEST/ 2000/ July/ Day 12/ 6061. pdf. Last accessed June 9, 2003.

FDA, 2003a. " Guidance For Industry: Preparation of Food Contact Notifications and Food Additive Petitions for Food Contact Substances: Chemistry Recommendations. Final Guidance." April, 2003. http:// www. cfsan. fda. gov/~ dms/ opa2pmnc. html. Last accessed June 9, 2003.

FDA, 2003b. " Sanitizing Solutions: Chemistry Guidelines for Food Additive Petitions." January, 1993. http:// www. cfsan. fda. gov/~ dms/ opa cg3a. html. Last accessed June 9, 2003.


[Federal Register Volume 87, Number 93 (Friday, May 13, 2022)]
[Notices]
[Pages 29413-29414]
[FR Doc No: 2022-10259]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94875; File No. SR-PEARL-2022-11]

Self-Regulatory Organizations; MIAX PEARL LLC; Notice of
Withdrawal of Proposed Rule Change To Amend the MIAX PEARL Options Fee
Schedule To Increase Certain Connectivity Fees

May 9, 2022.
    On April 1, 2022, MIAX PEARL LLC (``MIAX Pearl'' or ``Exchange'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to
amend the MIAX Pearl Options Fee Schedule to increase certain
connectivity fees.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

    The proposed rule change was immediately effective upon filing with
the Commission pursuant to Section 19(b)(3)(A) of the Act.\3\ On April
20, 2022, the proposed rule change was published for comment in the
Federal Register and, pursuant to Section

19(b)(3)(C) of the Act,\4\ the Commission: (1) Temporarily suspended
the proposed rule change; and (2) instituted proceedings under Section
19(b)(2)(B) of the Act \5\ to determine whether to approve or
disapprove the proposed rule change.\6\ On May 2, 2022, the Exchange
withdrew the proposed rule change (SR-PEARL-2022-11).
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78s(b)(3)(A). A proposed rule change may take
effect upon filing with the Commission if it is designated by the
exchange as ``establishing or changing a due, fee, or other charge
imposed by the self-regulatory organization on any person, whether
or not the person is a member of the self-regulatory organization.''
15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 15 U.S.C. 78s(b)(3)(C).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 94721 (April 14,
2022), 87 FR 23573.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-10259 Filed 5-12-22; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 84, Number 248 (Friday, December 27, 2019)]
[Notices]
[Pages 71515-71518]
[FR Doc No: 2019-27875]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-87808; File No. SR-CBOE-2019-125]

Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change to Amend
the Silexx Trading Platform (``Silexx'' or the ``Platform'') Fees
Schedule

December 19, 2019.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the

``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on December 18, 2019, Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe
Options'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. The
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\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe Options'') proposes
to amend the Silexx trading platform (``Silexx'' or the ``platform'')
Fees Schedule. The text of the proposed rule change is provided in
Exhibit 5.
    The text of the proposed rule change is also available on the
Exchange's website (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the
Secretary, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of this filing is to amend the Silexx Fees Schedule to
adopt a new ``drop copy'' fee.\3\
---------------------------------------------------------------------------

    \3\ The Exchange initially filed the proposed fee changes on
December 2, 2019 (SR-CBOE-2019-113). On December 12, 2019, the
Exchange withdrew that filing and refiled the proposed fee changes
(SR-CBOE-2019-121).On December 18, 2019 the Exchange withdrew that
filing and submitted this filing (SR-CBOE-2019-125).
---------------------------------------------------------------------------

    By way of background, the Silexx platform consists of a ``front-
end'' order entry and management trading platform (also referred to as
the ``Silexx terminal'') for listed stocks and options that supports
both simple and complex orders,\4\ and a ``back-end'' platform which
provides a connection to the infrastructure network. From the Silexx
platform (i.e., the collective front-end and back-end platform), a
Silexx user has the capability to send option orders to U.S. options
exchanges, send stock orders to U.S. stock exchanges (and other trading
centers), input parameters to control the size, timing, and other
variables of their trades, and also includes access to real-time
options and stock market data, as well as access to certain historical
data. The Silexx platform is designed so that a user may enter orders
into the platform to send to an executing broker (including Trading
Permit Holders (``TPHs'')) of its choice with connectivity to the
platform, which broker will then send the orders to Cboe Options (if
the broker is a TPH) or other U.S. exchanges (and trading centers) in
accordance with the user's instructions.\5\ The Silexx front-end and
back-end platforms are a software application that are installed
locally on a user's desktop. Silexx grants users licenses to use the
platform, and a firm or individual does not need to be a TPH to license
the platform. Use of Silexx is completely optional.
---------------------------------------------------------------------------

    \4\ The platform also permits users to submit orders for
commodity futures, commodity options and other non-security products
to be sent to designated contract markets, futures commission
merchants, introducing brokers or other applicable destinations of
the users' choice.
    \5\ Silexx does not allow users to send orders directly to the
Exchange or other market centers; however, an additional version of
the Silexx platform, Silexx FLEX, supports the trading of FLEX
Options and allows authorized Users with direct access to the
Exchange. See Securities Exchange Act Release No. 87028 (September
19, 2019) 84 FR 50529 (September 25, 2019) (SR-CBOE-2019-061).
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    In an effort to integrate Silexx and the PULSe drop copy network,
the Exchange established a method by which a TPH or non-TPH market
participant may connect to the Silexx back-end platform through a
third-party terminal (i.e., a front-end platform other than a Silexx or
PULSe terminal. Such a TPH or non-TPH market participant is hereinafter
referred to as a ``Silexx integrated partner''). Specifically, such a
Silexx integrated partner may access the Silexx back-end platform
through a third-party front-end which will only provide the Silexx
integrated partner with access to the PULSe drop copy network via a
Financial Information eXchange (``FIX'') hub.\6\ FIX is an industry-
standard, non-proprietary application program interface (``API'') that
permits market participants to connect to exchanges. FIX language-based
connectivity, upon request, provides customers (both TPHs and non-TPHs)
of TPHs that are brokers and PULSe \7\ users (``PULSe brokers'') with
the ability to receive ``drop copy'' order fill messages from their
PULSe brokers. These fill messages allow customers to update positions,
risk calculations, and streamline back-office functions.
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    \6\ The Exchange notes that a Silexx integrated partner will
have no access to Silexx front-end platform functionality. A Silexx
integrated partner will only have access to the back-end platform,
which provides connectivity to the PULSe drop copy network through a
FIX hub.
    \7\ The PULSe workstation is a front-end order entry system
designed for use with respect to orders that may be sent to the
trading systems of the Exchange. TPHs may make PULSe workstations
available to their customers, which may include TPHs, non-broker
dealer public customers, and non-TPH broker dealers.
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    As a result of the recent integration between Silexx and the PULSe
drop copy network, Silexx front-end users and Silexx integrated
partners have access to the PULSe drop copy network. Therefore, both
Silexx users and Silexx integrated partners may send notice execution
messages to the PULSe drop copy network, who will then forward such
messages (i.e., drop copies) on to a PULSe or Silexx-user customer (the
``customer'') for which it has a connection. The Exchange proposes to
adopt a fee applicable to the Silexx integrated partner, given this new
functionality, which would allow a customer to receive drop copies via
the PULSe drop copy network from a non-PULSe, non-Silexx terminal
(i.e., a Silexx integrated partner). Particularly, the Exchange
proposes to adopt a fee of $500 per month for each customer connection
to which a Silexx integrated partner will submit drop copies from non-
PULSe, non-Silexx terminals. At this time, the Exchange proposes no fee
to the customer receiving the drop copies from the Silexx integrated
partner. To illustrate the manner in which the fee would be assessed,
consider the following examples.
Example #1
    Consider a PULSe or Silexx user (the ``customer'') sends its order
to a Silexx integrated partner that is also a TPH (the ``Silexx
integrated TPH'') for execution via a third-party front-end platform
(i.e., a terminal other than Silexx or PULSe). The Silexx integrated
TPH then submits the order to the Exchange or another market center
through its own third-party front-end system. Under the new
functionality, for a $500/month fee the Silexx integrated TPH may
establish a connection to the Silexx back-end platform which will
provide

connectivity to the PULSe drop copy network and allow the Silexx
integrated TPH to send fill messages back to its customer. The
connection fee would be assessed to the Silexx integrated TPH on a per
customer connection basis.\8\
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    \8\ The Exchange notes that the Silexx integrated TPH must
establish a connection for each applicable customer to receive drop
copies via the PULSe drop copy network. Thus, the fee is applied on
a per customer or per connection basis. For example, if a Silexx
integrated TPH has two customers that receive drop copies via the
PULSe drop copy network, the Silexx integrated TPH would be assessed
a monthly fee of $1,000 ($500 x 2).
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Example #2
    Consider a PULSe or Silexx user (the ``customer'') sends its order
to a Silexx integrated partner that is a non-TPH (the ``Silexx
integrated non-TPH'') for execution via a third-party front-end
platform (i.e., a terminal other than Silexx or PULSe). The Silexx
integrated non-TPH then submits the order to another market center (or
to the Exchange through a third-party TPH) through its own front-end
system. Under the new functionality, for a $500/month fee the Silexx
integrated non-TPH may establish a connection to the Silexx back-end
platform which will provide connectivity to the PULSe drop copy network
and allow the Silexx integrated non-TPH to send fill messages back to
its customer. The connection fee would be assessed to the Silexx
integrated non-TPH on a per customer connection basis.\9\
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    \9\ The Exchange notes that the Silexx integrated non-TPH must
establish a connection for each applicable customer to receive drop
copies via the PULSe drop copy network. Thus, the fee is applied on
a per customer or per connection basis. For example, if a Silexx
integrated non-TPH has two customers that receive drop copies via
the PULSe drop copy network, the Silexx integrated non-TPH would be
assessed a monthly fee of $1,000 ($500 x 2).
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2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\10\ Specifically, the
Exchange believes the proposed rule change is consistent with Section
6(b)(4) of the Act,\11\ which requires that Exchange rules provide for
the equitable allocation of reasonable dues, fees, and other charges
among its Trading Permit Holders and other persons using its facilities
and does not unfairly discriminate between customers, issuers, brokers
or dealers.
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    \10\ 15 U.S.C. 78f(b).
    \11\ 15 U.S.C. 78f(b)(4).
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    The Exchange believes that the proposed fee is reasonable as it is
similar to other established PULSe fees related to drop-copy
functionality.\12\ For example, the PULSe Fees Schedule provides for a
drop copy fee of $425 per month payable by the TPH customer receiving
the drop copies. Specifically, for each PULSe-using TPH broker that
provides a TPH customer drop copies, such receiving TPH customer incurs
a fee of $425 per month. Similarly, the PULSe Fees schedule provides
for a drop copy fee of $0.02/contract (capped at $400 per month)
payable by the TPH sending the drop copies to its non-TPH customers.
Specifically, for each non-TPH PULSe-using customer for which a TPH
broker provides drop copies, the TPH broker incurs a fee of $0.02/
contract (capped at $400 per month). The proposed fee is slightly
higher than the comparable PULSe fees because Silexx Integrated
Partners are paying no additional fees, such as a PULSe or Silexx
terminal fee.
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    \12\ See e.g., PULSe Fees Schedule drop copy fees.
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    Additionally, the proposed fee would support the introduction of a
new drop copy functionality that provides an alternative means for
customers to receive their fill messages. Particularly, the new drop
copy functionality provides a Silexx integrated partner with the
ability to leverage the existing infrastructure of the PULSe drop copy
network, which provides customers with the ability to receive valuable
information about transactions executed across the market place. By
utilizing the existing infrastructure, customers already connected to
the PULSe drop copy network may experience cost savings by eliminating
the need to connect to another platform to receive drop copies.
Further, customers will not be charged an additional fee to receive
such drop copies via the PULSe drop copy network. Additionally, Silexx
integrated partners may experience lower fees than those of competitor
providers charging for drop copies. As noted above, the drop copy fill
messages allow customers to update positions, risk calculations, and
streamline back-office functions. The Exchange notes that the decision
as to whether or not to utilize the PULSe drop copy network is entirely
optional for all users.
    The Exchange believes that assessing the proposed fee to Silexx
integrated partners using non-PULSe, non-Silexx terminals is equitable
and not unfairly discriminatory as PULSe and Silexx terminal users
already pay monthly fees related to the use of such workstations and
access to the PULSe drop copy network. The Exchange believes the fee is
equitable and not unfairly discriminatory because the monthly fee is
assessed uniformly to any market participant who sends drop copies
through the PULSe drop copy network from non-PULSe, non-Silexx
terminals. Further, the Exchange believes the fee is equitable and not
unfairly discriminatory because, as discussed above, the fee is similar
to fees assessed to PULSe users utilizing the PULSe drop copy network.

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

    Cboe Options 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. The Exchange does not
believe that the proposed rule change will impose any burden on
intramarket competition that is not necessary or appropriate in
furtherance of the purposes of the Act because the proposed drop copy
fee is assessed equally to similarly situated Silexx integrated TPHs or
non-TPHs electing to use the drop copy functionality.
    The Exchange does not believe that the proposed change will cause
any unnecessary burden on intermarket competition because the proposed
fee relates to the use of an Exchange-supported order entry management
system. To the extent that any proposed change makes Silexx a more
attractive platform for market participants, such market participants
are welcome to become Silexx users or Silexx integrated partners.

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

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

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \13\ and paragraph (f) of Rule 19b-4 \14\
thereunder. At any time within 60 days of the filing of the proposed
rule change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the

Commission takes such action, the Commission will institute proceedings
to determine whether the proposed rule change should be approved or
disapproved.
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    \13\ 15 U.S.C. 78s(b)(3)(A).
    \14\ 17 CFR 240.19b-4(f).
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IV. Solicitation of Comments

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

Electronic Comments:

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-CBOE-2019-125 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-CBOE-2019-125. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-CBOE-2019-125 and should be submitted on
or before January 17, 2020.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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    \15\ 17 CFR 200.30-3(a)(12)
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2019-27875 Filed 12-26-19; 8:45 am]
BILLING CODE 8011-01-P