[Federal Register Volume 79, Number 135 (Tuesday, July 15, 2014)]
[Notices]
[Pages 41330-41333]
[FR Doc No: 2014-16497]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72571; File No. SR-NYSEArca-2014-30]

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Instituting
Proceedings To Determine Whether To Approve or Disapprove a Proposed
Rule Change Relating to the Listing and Trading of Shares of Hull
Tactical US ETF Under NYSE Arca Equities Rule 8.600

July 9, 2014.

I. Introduction

    On March 24, 2014, NYSE Arca, Inc. (``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 list and trade
shares of Hull Tactical US ETF under NYSE Arca Equities Rule 8.600. The
proposed rule change was published for comment in the Federal Register
on April 11, 2014.\3\ The Commission received no comments on the
proposal. On May 21, 2014, pursuant to Section 19(b)(2) of the Act,\4\
the Commission designated a longer period within which to either
approve the proposed rule change, disapprove the proposed rule change,
or institute proceedings to determine whether to disapprove the
proposed rule change.\5\ This order institutes proceedings under
Section 19(b)(2)(B) of the Act \6\ to determine whether to approve or
disapprove the proposed rule change. The institution of proceedings
does not indicate that the Commission has reached any conclusions with
respect to any of the issues involved, nor does it mean that the
Commission will ultimately disapprove the proposed rule change. Rather,
as described in Section III, below, the Commission seeks and encourages
interested persons to provide additional comment on the proposed rule
change to inform the Commission's analysis of whether to approve or
disapprove the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 71894 (Apr. 7,
2014), 79 FR 20273 (``Notice'').
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ Securities Exchange Act Release No. 72214 (May 21, 2014), 79
FR 30672 (May 28, 2014). The Commission determined that it was
appropriate to designate a longer period within which to take action
on the proposed rule change so that it would have sufficient time to
consider the proposed rule change. Accordingly, the Commission
designated July 10, 2014 as the date by which it should approve,
disapprove, or institute proceedings to determine whether to
disapprove the proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
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II. Description of the Proposal

    The Exchange proposes to list and trade Shares of the Fund pursuant
to NYSE Arca Equities Rule 8.600, which governs the listing and trading
of Managed Fund Shares on the Exchange. The Shares will be offered by
the Exchange Traded Concepts Trust (``Trust''), a Delaware statutory
trust. The Trust is registered with the Commission as an investment
company.\7\ Exchange Traded Concepts, LLC will be the investment
adviser (``Adviser'') to the Fund. HTAA, LLC will be the sub-adviser to
the Fund (``Sub-Adviser'').\8\ SEI Investments Co. will serve as the
administrator of the Fund. JP Morgan Chase Bank N.A. will serve as the
custodian, transfer agent and dividend disbursing agent of the Fund.
SEI Investments Distribution Co. will serve as the distributor for the
Trust.
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    \7\ The Trust is registered under the Investment Company Act of
1940 (``1940 Act''). The Exchange states that on July 26, 2013, the
Trust filed with the Commission a post-effective amendment to its
registration statement on Form N-1A relating to the Fund (File Nos.
333-156529 and 811-22263) (``Registration Statement''). In addition,
the Exchange states that the Commission has issued an order granting
certain exemptive relief to the Trust under the1940 Act. See
Investment Company Act Release No.30445 (Apr. 2, 2013) (File No.
812-13969) (``Exemptive Order'').
    \8\ The Exchange states that neither the Adviser nor the Sub-
Adviser is or is affiliated with a broker-dealer. The Exchange
states that, in the event (a) the Adviser or Sub-Adviser becomes, or
becomes newly affiliated with, a broker-dealer, or (b) any new
manager, adviser or sub-adviser is, or becomes affiliated with, a
broker-dealer, the adviser or sub-adviser will implement a fire wall
with respect to its relevant personnel or broker-dealer affiliate,
as applicable, regarding access to information concerning the
composition of or changes to the portfolio, and that adviser or sub-
adviser will be subject to procedures designed to prevent the use
and dissemination of material non-public information regarding such
portfolio.
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    The Exchange has made the following representations and statements
in describing the Fund and its investment strategies, including other
portfolio holdings and investment restrictions.\9\
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    \9\ The Commission notes that additional information regarding
the Trust, the Fund, and the Shares, including investment
strategies, risks, net asset value (``NAV'') calculation, creation
and redemption procedures, fees, Fund holdings disclosure policies,
distributions, and taxes, among other information, is included in
the Notice and the Registration Statement, as applicable. See Notice
and Registration Statement, supra notes 3 and 7, respectively.
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General

    The investment objective of the Fund will be to seek long-term
capital appreciation. The Fund will be actively managed.
    Under normal market conditions,\10\ the Fund will seek to achieve
its investment objective by taking long and short positions \11\ in one
or more exchange traded funds (``ETFs'') \12\ that

seek to track the performance of the S&P 500 Index (each, an ``S&P 500-
related ETF''). The ETFs the Fund invests in all will be listed and
traded in the U.S. on registered exchanges. Under normal market
conditions, substantially all of the Fund's assets will be invested in
one or more S&P 500-related ETFs; ETFs that provide leveraged or
inverse exposure to the S&P 500 Index; and, to seek the desired
exposure to the S&P 500 Index, futures contracts, as well as, as
described below, cash instruments.
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    \10\ The term ``under normal market conditions'' includes, but
is not limited to, the absence of adverse market, economic,
political or other conditions, including extreme volatility or
trading halts in the equity markets or the financial markets
generally; operational issues causing dissemination of inaccurate
market information; and force majeure type events such as systems
failure, natural or man-made disaster, act of God, armed conflict,
act of terrorism, riot or labor disruption, or any similar
intervening circumstance.
    \11\ Short sales are transactions in which the Fund sells a
security it does not own. To complete the transaction, the Fund must
borrow or otherwise obtain the security to make delivery to the
buyer. The Fund is then obligated to replace the security borrowed
by purchasing the security at the market price at the time of
replacement. The Fund may use repurchase agreements to satisfy
delivery obligations in short sales transactions. The Fund may use
up to 100% of its net assets to engage in short sales transactions
and collateralize its open short positions.
    \12\ ETFs are securities registered under the 1940 Act such as
those listed and traded on the Exchange under NYSE Arca Equities
Rules 5.2(j)(3) (Investment Company Units), 8.100 (Portfolio
Depositary Receipts) and 8.600 (Managed Fund Shares).
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    The Sub-Adviser will utilize a proprietary, analytical investment
model that examines current and historical market data to attempt to
predict the performance of the S&P 500 Index. The model will deliver
investment signals that the Sub-Adviser will use to make investment
decisions for the Fund. Depending on the investment signal delivered by
the model, the Sub-Adviser will take certain long or short positions in
one or more S&P 500-related ETFs: (1) If the model indicates bull-
market conditions, the Sub-Adviser will take long positions; or (2) if
the model indicates bear-market conditions, the Sub-Adviser will take
short positions. When the Fund takes long positions, it may maintain
long exposure of up to 200% of net assets; exposure to short positions
will be limited to no more than 100% of net assets. The Sub-Adviser
will adjust the Fund's long and short positions when necessary to take
into account new data from the model that reflects changing market
conditions. Positions may be adjusted as the model predictions
fluctuate.
    The Fund will enter into futures contracts to seek the desired
exposure to the S&P 500 Index.\13\ The Fund will limit its investment
in futures contracts such that either (1) the aggregate net notional
value of its futures investments will not exceed the value of the
Fund's net assets, after taking into account unrealized profits and
unrealized losses on the futures positions it has entered into; or (2)
the aggregate initial margin and premiums required to establish
positions in its futures investments will not exceed 5% of the Fund's
net assets, after taking into account unrealized profits and unrealized
losses on any such positions. The Fund will only enter into futures
contracts traded on a national futures exchange regulated by the CFTC.
The Fund will trade futures when the Sub-Adviser determines that doing
so may provide an efficient means of seeking exposure to the S&P 500
Index that is complimentary to its investment in shares of one or more
S&P 500-related ETFs.
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    \13\ To the extent the Fund enters into futures contracts or
invests in underlying ETFs that invest in futures, options on
futures or other instruments subject to regulation by the U.S.
Commodity Futures Trading Commission (``CFTC''), it will do so in
reliance upon and in accordance with CFTC Rule 4.5. The Exchange
states that the Trust has filed a notice of eligibility for
exclusion from the definition of the term ``commodity pool
operator'' in accordance with CFTC Rule 4.5. Therefore, neither the
Trust nor any of its series is deemed to be a ``commodity pool'' or
``commodity pool operator'' under the Commodity Exchange Act
(``CEA''), and they are not subject to registration or regulation as
such under the CEA. In addition, neither the Adviser nor the Sub-
Adviser is deemed to be a ``commodity pool operator'' or ``commodity
trading adviser'' with respect to the advisory services it provides
to the Fund.
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    In addition to investments in the S&P 500-related ETFs and futures
contracts, the Fund may invest up to 10% of its total assets in
leveraged ETFs or inverse ETFs that seek to deliver multiples, or the
inverse, of the performance of the S&P 500 Index, respectively
(collectively with S&P 500-related ETFs, ``Underlying ETFs''). Such
investments will be made in accordance with the 1940 Act and consistent
with the Fund's investment objective and policies, and they will not be
used to seek performance that is the multiple or inverse multiple
(e.g., 2X or 3X) of any securities market index. The inverse and
leveraged ETFs held by the Fund may utilize leverage (i.e., borrowing)
to acquire their underlying portfolio investments.\14\
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    \14\ The use of leverage may exaggerate changes in an ETF's
share price and the return on its investments. Inverse and leveraged
ETFs are designed to achieve their objectives for a single day only.
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    The Fund may invest in Underlying ETFs that are primarily index-
based ETFs that hold substantially all of their assets in securities
representing a specific index. The Fund also may invest in Underlying
ETFs that are actively managed. The Underlying ETFs in which the Fund
may invest may invest in equity securities. Equity securities consist
of common stocks, preferred stocks, warrants to acquire common stock,
securities convertible into common stock,\15\ investments in master
limited partnerships (``MLPs'') \16\ and rights.\17\
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    \15\ Convertible securities are bonds, debentures, notes,
preferred stocks, or other securities that may be converted or
exchanged (by the holder or by the issuer) into shares of the
underlying common stock (or cash or securities of equivalent value)
at a stated exchange ratio.
    \16\ MLPs are limited partnerships in which the ownership units
are publicly traded. MLP units are registered with the Commission
and are freely traded on a securities exchange or in the over-the-
counter market.
    \17\ A right is a privilege granted to existing shareholders of
a corporation to subscribe to shares of a new issue of common stock
before it is issued. Rights normally have a short life of usually
two to four weeks.
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    The Underlying ETFs in which the Fund may invest may engage in
futures and options transactions. The Fund will only invest in
Underlying ETFs that engage in futures contracts if such futures
contracts are traded on a national futures exchange regulated by the
CFTC. Underlying ETFs in which the Fund may invest may use futures
contracts and related options for bona fide hedging; attempting to
offset changes in the value of securities held or expected to be
acquired or be disposed of; attempting to gain exposure to a particular
market, index, or instrument; or other risk management purposes. When
an Underlying ETF purchases or sells a futures contract, or sells an
option thereon, it is required to cover its position in order to limit
leveraging and related risks.
    The Underlying ETFs in which the Fund may invest may buy and sell
index futures contracts with respect to any index that is traded on a
recognized exchange or board of trade.
    The Underlying ETFs in which the Fund may invest may purchase and
write (sell) put and call options on indices and enter into related
closing transactions.\18\ All such options written on indices or
securities must be covered by the Underlying ETF.
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    \18\ A put option on a security gives the purchaser of the
option the right to sell, and the writer of the option the
obligation to buy, the underlying security. A call option on a
security gives the purchaser of the option the right to buy, and the
writer of the option the obligation to sell, the underlying
security. Put and call options on indices are similar to options on
securities except that options on an index give the holder the right
to receive, upon exercise of the option, an amount of cash if the
closing level of the underlying index is greater than (or less than,
in the case of puts) the exercise price of the option.
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    An Underlying ETF in which the Fund may invest may trade put and
call options on securities, securities indices, and currencies, as the
Underlying ETF's investment adviser determines is appropriate in
seeking the ETF's investment objective, and except as restricted by the
Underlying ETF's investment limitations. An Underlying ETF may purchase
put and call options on securities to protect against a decline in the
market value of the securities in its portfolio or to anticipate an
increase in the market value of securities that the Fund may seek to
purchase in the future. An Underlying ETF may write covered call
options on securities as a means of increasing the yield on its assets
and as a means of providing limited protection against decreases in its
market value. An Underlying ETF may purchase and write options on an
exchange or over-the-counter.

    The Underlying ETFs in which the Fund may invest may enter into
swaps, including, but not limited to, total return swaps, index swaps,
and interest rate swaps. An Underlying ETF may utilize swaps in an
attempt to gain exposure to the securities in a market without actually
purchasing those securities, or to hedge a position.\19\ The Underlying
ETFs in which the Fund may invest may enter into swaps to invest in a
market without owning or taking physical custody of the underlying
securities in circumstances in which direct investment is restricted
for legal reasons or is otherwise impracticable.
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    \19\ Forms of swaps include interest rate caps, under which, in
return for a premium, one party agrees to make payments to the other
to the extent that interest rates exceed a specified rate, or
``cap''; interest rate floors, under which, in return for a premium,
one party agrees to make payments to the other to the extent that
interest rates fall below a specified level, or ``floor''; and
interest rate collars, under which a party sells a cap and purchases
a floor or vice versa in an attempt to protect itself against
interest rate movements exceeding given minimum or maximum levels.
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    During periods when the Fund's assets (or portion thereof) are not
fully invested in one or more S&P 500-related ETFs or otherwise exposed
to the S&P 500 Index, all or a portion of the Fund may be invested in
cash instruments (``Cash Instruments''), which include U.S. Treasury
obligations; cash and cash equivalents including commercial paper,
certificates of deposit and bankers' acceptances; repurchase
agreements; \20\ shares of money market mutual funds; and high-quality,
short-term debt instruments including, in addition to U.S. Treasury
obligations, other U.S. government securities.\21\
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    \20\ The Fund may enter into repurchase agreements with
financial institutions, which may be deemed to be loans. The Fund
will effect repurchase transactions only with large, well-
capitalized, and well established financial institutions whose
condition will be continually monitored by the Sub-Advisor. In
addition, the value of the collateral underlying the repurchase
agreement will always be at least equal to the repurchase price,
including any accrued interest earned on the repurchase agreement.
    \21\ Securities issued or guaranteed by the U.S. government or
its agencies or instrumentalities include U.S. Treasury securities,
which are backed by the full faith and credit of the U.S. Treasury
and which differ only in their interest rates, maturities, and times
of issuance. Certain U.S. government securities are issued or
guaranteed by agencies or instrumentalities of the U.S. government
including, but not limited to, obligations of U.S. government
agencies or instrumentalities such as the Federal National Mortgage
Association (``Fannie Mae''), the Federal Home Loan Mortgage
Corporation (``Freddie Mac''), the Government National Mortgage
Association (``Ginnie Mae''), the Federal Home Loan Banks, and other
agencies or instrumentalities. Some obligations issued or guaranteed
by U.S. government agencies and instrumentalities, including, for
example, Ginnie Mae pass-through certificates, are supported by the
full faith and credit of the U.S. Treasury. Other obligations issued
by or guaranteed by federal agencies or instrumentalities, such as
those securities issued by Fannie Mae, are supported by the
discretionary authority of the U.S. government to purchase certain
obligations of the federal agency or instrumentality, while other
obligations issued by or guaranteed by federal agencies or
instrumentalities, such as those of the Federal Home Loan Banks, are
supported by the right of the issuer to borrow from the U.S.
Treasury. The Fund may invest in U.S. Treasury zero-coupon bonds.
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Other Investments

    In addition to the investments described above, the Fund may invest
in other investments, as described below.
    In the absence of normal market conditions,\22\ the Fund may invest
100% of its assets, without limitation, in Cash Instruments. The Fund
may be invested in this manner for extended periods, depending on the
Sub-Adviser's assessment of market conditions.
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    \22\ See note 10, supra.
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    In addition to the Underlying ETFs discussed above, which are
primary investments of the Fund, the Fund will invest in money market
mutual funds, to the extent that such an investment would be consistent
with the requirements of Section 12(d)(1) of the 1940 Act, or any rule,
regulation, or order of the Commission or interpretation thereof.

Restrictions on Investment

    The Fund may not purchase or sell commodities or commodity
contracts unless acquired as a result of ownership of securities or
other instruments issued by persons that purchase or sell commodities
or commodities contracts, but this shall not prevent the Fund from
entering into futures contracts.
    The Fund will not directly enter into swaps or engage in options
transactions.
    The Fund may not, with respect to 75% of its total assets, purchase
securities of any issuer (except securities issued or guaranteed by the
U.S. government, its agencies, or its instrumentalities or shares of
investment companies) if, as a result, more than 5% of its total assets
would be invested in the securities of such issuer.
    The Fund may not acquire more than 10% of the outstanding voting
securities of any one issuer.
    The Fund may not invest 25% or more of its total assets in the
securities of one or more issuers conducting their principal business
activities in the same industry or group of industries. This limitation
does not apply to investments in securities issued or guaranteed by the
U.S. government, its agencies or instrumentalities, or shares of
investment companies.
    The Fund may hold up to an aggregate amount of 15% of its net
assets in illiquid securities (calculated at the time of investment),
including securities deemed illiquid by the Adviser or Sub-Adviser
consistent with Commission guidance \23\ and repurchase agreements that
do not mature within seven days. 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 securities. Illiquid securities include securities subject to
contractual or other restrictions on resale and other instruments that
lack readily available markets as determined in accordance with
Commission staff guidance.
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    \23\ In reaching liquidity decisions, the Adviser and Sub-
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 in
which it trades (e.g., the time needed to dispose of the security,
the method of soliciting offers, and the mechanics of transfer).
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    The Fund intends to qualify each year as a regulated investment
company under Subchapter M of the Internal Revenue Code of 1986, as
amended.

III. Proceedings to Determine Whether To Approve or Disapprove File No.
SR-NYSEArca-2014-30 and Grounds for Disapproval Under Consideration

    The Commission is instituting proceedings pursuant to Section
19(b)(2)(B) of the Act \24\ to determine whether the proposed rule
change should be approved or disapproved. Institution of such
proceedings is appropriate at this time in view of the legal and policy
issues raised by the proposed rule change, as discussed below. As noted
above, institution of proceedings does not indicate that the Commission
has reached any conclusions with respect to any of the issues involved.
Rather, as described below, the Commission seeks and encourages
interested persons to provide comments on the proposed rule change to
inform the Commission's analysis of whether to approve or disapprove
the proposed rule change.
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    \24\ 15 U.S.C. 78s(b)(2)(B).
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    Pursuant to Section 19(b)(2)(B) of the Act,\25\ the Commission is
providing notice of the grounds for disapproval under consideration. As
discussed above, under normal market conditions, the Fund would seek to
achieve its

investment objective of long-term capital appreciation by taking long
and short positions in one or more S&P 500-related ETFs. When the Fund
takes long positions in one or more S&P 500-related ETFs, it could
maintain long exposure of up to 200% of net assets.\26\ The Commission
believes that the ability of the Fund to maintain long exposure of up
to 200% of net assets is a novel issue with respect to actively managed
funds and warrants additional consideration. Accordingly, the
Commission is instituting proceedings to allow for additional analysis
of the proposed rule change's consistency with Section 6(b)(5) of the
Act, which requires, among other things, that the rules of a national
securities exchange be ``designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade,'' and ``to protect investors and the public
interest.'' \27\
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    \25\ Id.
    \26\ Short positions will be limited to no more than 100% of net
assets.
    \27\ 15 U.S.C. 78f(b)(5).
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IV. Procedure: Request for Written Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with Section 6(b)(5) of the Act or any other
provision of the Act, or the rules and regulations thereunder. Although
there do not appear to be any issues relevant to approval or
disapproval which would be facilitated by an oral presentation of
views, data, and arguments, the Commission will consider, pursuant to
Rule 19b-4, any request for an opportunity to make an oral
presentation.\28\
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    \28\ Section 19(b)(2) of the Act, as amended by the Securities
Act Amendments of 1975, Public Law 94-29 (June 4, 1975), grants the
Commission flexibility to determine what type of proceeding--either
oral or notice and opportunity for written comments--is appropriate
for consideration of a particular proposal by a self-regulatory
organization. See Securities Act Amendments of 1975, Senate Comm. on
Banking, Housing & Urban Affairs, S. Rep. No. 75, 94th Cong., 1st
Sess. 30 (1975).
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    Interested persons are invited to submit written data, views, and
arguments regarding whether the proposal should be approved or
disapproved by August 5, 2014. Any person who wishes to file a rebuttal
to any other person's submission must file that rebuttal by August 19,
2014.
    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-NYSEArca-2014-30 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-NYSEArca-2014-30. 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 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-NYSEArca-2014-30 and should
be submitted on or before August 5, 2014. Rebuttal comments should be
submitted by August 19, 2014.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\29\
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    \29\ 17 CFR 200.30-3(a)(12) and 17 CFR 200.30-3(a)(57).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-16497 Filed 7-14-14; 8:45 am]
BILLING CODE 8011-01-P


MEMORANDUM TO: 304( m) Record ( EPA Docket Number OW 2003 0074)

FROM: Molly Merrifield, ERG DATE: December 8, 2003 SUBJECT: Explanation of the Source Data Used to Create TRI/ RSEI Rankings This memorandum describes the data manipulation performed during analysis of Toxics Release Inventory ( TRI) data and Risk Screening Environmental Indicators ( RSEI) model output to create a data source table used to generate various industry rankings.

RSEI Output Manipulation EPA's Office of Pollution Prevention & Toxics ( OPPT) performed RSEI runs ( using RSEI Model version 2.1  Draft) for the Office of Water ( OW) in February 2003. These runs filtered TRI data based on the reporting year equal to 2000 and releases only to surface water or publicly owned treatment works ( POTWs). OPPT created two sets of data: one data set included all reported pollutants, while the other data set excluded chromium and chromium compounds from the results. These two data sets were forwarded to OW.

OW analyzed the full set of pollutants reported to TRI. As the data were analyzed, it became necessary to distinguish between releases to surface water and transfers to POTWs. ERG re ran the RSEI model, applying the same filters described above, and specified that media information should be included in the output. This option expanded the previous data set and provided separate quantities of release estimates and risk scores for releases to surface water and transfers to POTWs.

The RSEI model provides several output values that can be used to analyze the data. The full model score ( i. e., RSEI risk related score) takes into consideration several parameters, including POTW removal efficiencies. By including removal efficiencies, treatment performed at a POTW is accounted for and the quantity of chemicals discharged to a water body is more accurately reflected.

The full model score, however, can only be calculated when all required parameters are present ( e. g., population exposure information, fate and transport information, etc.). Therefore, ERG created two additional values: " TRI Pounds Removed" and " TRI Pounds Discharged." " TRI Pounds Removed" was calculated by multiplying the quantity of chemical transferred to a POTW Memorandum December 8, 2003 Page 2 1POTW removal rates were exported from the RSEI model to use in the calculation. by the RSEI POTW removal rate for a chemical1. This quantity represents the amount of chemical that is removed by the POTW prior to discharging to a water body. This quantity was set equal to zero for discharges reported to be released direct to surface waters. " Total TRI Pounds Discharged" was then calculated by subtracting " TRI Pounds Removed" from " TRI Pounds" ( i. e., the reported release or transfer, in pounds).

ERG also created two additional output values corresponding to the values described above that factored in the RSEI toxicity value for the chemicals. " TRI Pounds Removed ToxTox" was calculated as the quantity of chemical removed by the POTW prior to discharge multiplied by the RSEI toxicity value. " Total TRI Pounds wToxTox" was then calculated as the quantity of chemical discharged to a receiving stream ( either directly, or after accounting for POTW removals) multiplied by the RSEI toxicity weight. In cases where a RSEI toxicity value did not exist, the reported releases were not included in the calculation.

One last output value was calculated for use in rankings. The " TWF Hazard" value was calculated using Toxic Weighting Factors ( TWFs) developed by OW's Engineering and Analysis Division ( EAD). EAD TWFs take into account environmental toxicity, in contrast to RSEI toxicity factors which only account for chronic human health hazard. " TWF Hazard" was calculated by multiplying " Total TRI Pounds Discharged" by the associated EAD TWF. In cases where an EAD TWF did not exist, the reported releases were not included in the calculation.

TRI Data Manipulation ERG augmented the RSEI model output with additional TRI data available from the 2000 Public Data Release ( PDR), a static data set made available on May 23, 2002. Due to a discrepancy that ERG identified between SICCode1 ( RSEI primary SIC code) and the primary SIC reported to TRI, SIC code data were extracted from the 2000 PDR in May 2003. These TRI primary SIC code data replaced the primary SIC code data output by RSEI for each facility.

Any other general information about a facility ( e. g., name, address, etc.) was obtained from the 2000 TRI PDR. The PDR was also used to determine how many facilities reported any type of releases ( i. e., non water releases) to TRI, to evaluate the type of treatment used on site at certain facilities, and to evaluate dioxin congener information.

Additional facility specific data corrections were made and are documented in an addendum to the Draft Final Report: Evaluation of RSEI Model Runs. These refinements are based on additional information obtained from facilities and more accurately reflect activities occurring at a facility. Memorandum December 8, 2003 Page 3 Final TRI Data Output The final TRI data set, called " SourceForRankingsw/ POTWRemovals," comprises all values used to generate final industry rankings. Attachment A to this memorandum presents a graphical representation of the flow and interaction among the data sources used to create the final TRI data set. The following data elements are present in the final TRI data set:

CAS number;

Chemical name;

Facility ID;

SIC code;

Media ( i. e., direct surface water or POTW transfer);

TRI Pounds;

TRI Pounds Removed;

Total TRI Pounds Discharged;

TRI Pounds wToxTox;

TRI Pounds Removed ToxTox;

Total TRI Pounds wToxTox;

Modeled Pounds Tox;

Full Model ( i. e., RSEI risk related score); and

TWF Hazard.

In order to arrive at point source category rankings, data contained within this data set were further aggregated. Rankings were established by first aggregating data at the SIC code level, followed by point source category. ATTACHMENT A DATA SOURCE FLOW AND INTERACTION SIC/ Point Source Category Crosswalk EAD Toxic Weight Factor Chemical Name CAS Number EAD TWF Chemical CAS Number Other Data Percent of chemical removed from the wastewater by the POTW POTW Partition Removal First facility 4 digit SIC code reported on Form R ( As Reported) SICCode1 Value is the product of the surrogate dose ( estimated usingexposure models), the chemical's toxicity weight, and the population FullModel Value is modeled pounds multiplied by the toxicity weight of thechemical appropriate for the exposure pathway selected Modeled PoundsTox Value is TRI pounds multiplied by the toxicity weight of the chemical appropriate for the exposure pathway selected TRIPounds WToxTox Total number of pounds released or transferred reported to TRI for the exposure pathway being considered Descriptions of receiving media associated with Media Codes ( i. e., direct water or POTW transfer) Code associated with the media and/ or methodof release Facility ID Chemical Name CAS Number TRIPounds MediaText Media FacilityID Chemical CAS Number RSEI Model Output Note that TRI SIC code replaced RSEI SIC code SIC Group or Point Source Category TypeofGroup Total number of pounds released or transferred reported to TRI for the exposure pathway being considered TRIPounds Primary SIC Code from RSEI SICCode1_ OLD Priority pollutant indicator Priority? Fourth Point Source Category SIC code is a part of, if applicable Point Source 4 Primary SIC Code from the TRI Public Data SICCode1 Value is modeled pounds multiplied by the toxicity weight of the chemical appropriate for the exposure pathway selected ModeledPoundsTox Value is the product of the surrogate dose ( estimated using exposure models), the chemical's toxicity weight, and the population FullModel Facility ID from the TRI Public Data Release FacilityID_ PDR This value is calculated for TRI chemicals that have EAD TWFs. TWF Hazard is calculated by multiplying total TRI pounds discharged [ TotalTRIPounds_ Discharged] by the EAD TWF of the chemical TWF Hazard Quantity of chemical released in pounds [ TRIPounds] multiplied by RSEI Toxicity Weight TRIPoundsWToxTox Quantity of chemical removed by POTW prior to discharge ( only calculated for chemicals transferred to POTWs) [ TotalTRIPounds_ Discharged] multiplied by RSEI Toxicity Value TRIPounds_ RemovedToxTox Quantity of chemical removed by POTW prior to discharge, only calculated for chemicals quantities transferred to POTWs TRIPounds_ Removed Quantity of chemical discharged ( either quantity released or quantity transferred to POTW minus quantity removed by POTW) [ TotalTRIPounds_ Discharged] multiplied by RSEI Toxicity Value TotalTRIPoundsWToxTox Quantity of chemical discharged ( either quantity released or quantity transferred to POTW minus quantity removed by POTW) TotalTRIPounds_ Discharged Total number of pounds released or transferred reported to TRI for the exposure pathway being considered Third Point Source Category SIC code is a part of, if applicable Second Point Source Category SIC code is a part of, if applicable First Point Source Category SIC code is a part of. Note that if TypeofGroup= SIC, then this field is populated with the high level SIC description. Descriptions of receiving media associated with Media Codes ( i. e., direct water or POTW transfer) Code associated with the media and/ or method of release Facility ID from RSEI Chemical Name CAS Number TRIPounds Point Source 3 Point Source 2 Point Source 1 MediaText Media FacilityID Chemical CASNumber Final TRI Data Output (" SourceForRankingsw/ POTWRemovals") First facility 4 digit SIC code reported on Form R PrimarySIC Facility Zip Code Facility Zip Code Facility State Facility State Facility City Facility City Facility Street Address Facility Name Code associated with the media and/ or method of release Form R or Form A Indicator ( Only Form R Data used) Facility ID Chemical Name CAS Number Facility Street Facility Name Form Type FacilityID Chemical CAS Number 2000 TRI Public Data Release


[Federal Register Volume 84, Number 60 (Thursday, March 28, 2019)]
[Notices]
[Page 11779]
[FR Doc No: 2019-05899]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. EL19-56-000]

Hoosier Energy Rural Electric Cooperative, Inc.; Notice of Filing

    Take notice that on March 20, 2019, Hoosier Energy Rural Electric
Cooperative, Inc., filed a proposed revenue requirement for reactive
supply and voltage control for the Lawrence Generating Station, Merom
Generating Station, and Worthington Generating Station, under
Midcontinent Independent System Operator Inc. Tariff Schedule 2.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). 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. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed on or before the comment date. On or
before the comment date, it is not necessary to serve motions to
intervene or protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov. Persons unable to file electronically should submit an
original and 5 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street NE, Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the
``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the website that enables subscribers to receive email
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please email
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.
    Comment Date: 5:00 p.m. Eastern Time on April 10, 2019.

Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2019-05899 Filed 3-27-19; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 76, Number 20 (Monday, January 31, 2011)]
[Proposed Rules]
[Pages 5302-5303]
[FR Doc No: 2011-2110]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2010-1034; Airspace Docket No. 10-AGL-22]

Proposed Amendment of Class E Airspace; Terre Haute, IN

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking (NPRM).

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SUMMARY: This action proposes to amend Class E airspace at Terre Haute,
IN. Controlled airspace is necessary to accommodate new Standard
Instrument Approach Procedures (SIAP) at Union Hospital Heliport. The
FAA is taking this action to enhance the safety and management of
Instrument Flight Rules (IFR) operations at the heliport. This action
also would change the name of Hulman Regional Airport and amend the
geographic coordinates.

DATES: 0901 UTC. Comments must be received on or before March 17, 2011.

ADDRESSES: Send comments on this proposal to the U.S. Department of
Transportation, Docket Operations, 1200 New Jersey Avenue, SE., West
Building Ground Floor, Room W12-140, Washington, DC 20590-0001. You
must identify the docket number FAA-2010-1034/Airspace Docket No. 10-
AGL-22, at the beginning of your comments. You may also submit comments
through the Internet at http://www.regulations.gov. You may review the
public docket containing the proposal, any comments received, and any
final disposition in person in the Dockets Office between 9 a.m. and 5
p.m., Monday through Friday, except Federal holidays. The Docket Office
(telephone 1-800-647-5527), is on the ground floor of the building at
the above address.

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:

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 and be submitted in triplicate to the address listed
above. Commenters wishing the FAA to acknowledge receipt of their
comments on this notice must submit with those comments a self-
addressed, stamped postcard on which the following statement is made:
``Comments to Docket No. FAA-2010-1034/Airspace Docket No. 10-AGL-22.''
The postcard will be date/time stamped and returned to the commenter.

Availability of NPRMs

    An electronic copy of this document may be downloaded through the
Internet at http://www.regulations.gov. Recently published rulemaking
documents can also be accessed through the FAA's Web page at http://www.faa.gov/airports_airtraffic/air_traffic/publications/airspace_amendments/.
    You may review the public docket containing the proposal, any
comments received and any final disposition in person in the Dockets
Office (see 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 Central Service Center, 2601 Meacham Blvd., Fort
Worth, TX 76137.
    Persons interested in being placed on a mailing list for future
NPRM's should contact the FAA's Office of Rulemaking<PHONE_NUMBER>, to
request a copy of Advisory Circular No. 11-2A, Notice of Proposed
Rulemaking Distribution System, which describes the application
procedure.

The Proposal

    This action proposes to amend Title 14, Code of Federal Regulations
(14 CFR), Part 71 by adding Class E airspace extending upward from 700
feet above the surface for a new COPTER RNAV (POINT-IN-SPACE) SIAP at
Union Hospital Heliport, Terre Haute, IN. Controlled airspace is needed
for the safety and management of IFR operations. This action also would
change Hulman Regional Airport to Terre Haute International Airport-
Hulman Field, Terre Haute, IN, and adjust the geographic coordinates to
coincide with the FAA's Aeronautical Products.
    Class E airspace areas are published in Paragraph 6005 of FAA Order
7400.9U, dated August 18, 2010, and effective September 15, 2010, which
is incorporated by reference in 14 CFR 71.1. The Class E airspace
designation listed in this document would 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.
It, therefore, (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 would add controlled airspace at Union Hospital Heliport, Terre
Haute, IN.

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
7400.9U, Airspace Designations and Reporting Points, dated August 18,
2010, and effective September 15, 2010, is amended as follows:

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

* * * * *

AGL IN E5 Terre Haute, IN [Amended]

Terre Haute, Terre Haute International Airport/Hulman Field
    (Lat. 39[deg]27'05'' N., long. 87[deg]18'27'' W.)
Terre Haute, Sky King Airport, IN
    (Lat. 39[deg]32'52'' N., long. 87[deg]22'38'' W.)
Brazil, Brazil Clay County Airport, IN
    (Lat. 39[deg]28'36'' N., long. 87[deg]05'59'' W.)
Terre Haute, Union Hospital Heliport, IN
Point In Space
    (Lat. 39[deg]29'43'' N., long. 87[deg]24'00'' W.)

    That airspace extending upward from 700 feet above the surface
within a 7.3-mile radius of Terre Haute International Airport/Hulman
Field, and within a 6.3-mile radius of Sky King Airport, and within
a 6.8-mile radius of Brazil Clay County Airport, and within a 6-mile
radius of the Union Hospital Heliport point in space coordinates at
lat. 39[deg]29'43'' N., long. 87[deg]24'00'' W.

    Issued in Fort Worth, TX, on January 14, 2011.
Richard J. Kervin, Jr.,
Acting Manager, Operations Support Group, ATO Central Service Center.
[FR Doc. 2011-2110 Filed 1-28-11; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register: September 29, 2008 (Volume 73, Number 189)]
[Notices]
[Page 56626-56627]
[DOCID:fr29se08-124]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Notice of Intent To Rule on Request To Release Airport Property
at the Warren County Memorial Airport, McMinnville, TN

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Request for public comment.

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SUMMARY: The Federal Aviation Administration is requesting public
comment on the release of land at the Warren County Memorial Airport in
the City of McMinnville, Tennessee. This property, approximately 13.3
acres, will change to a non-aeronautical use. This action is taken
under the provisions of Section 125 of the Wendell H. Ford Aviation
Investment Reform Act for the 21st Century (AIR 21).

DATES: Comments must be received on or before October 29, 2008.

ADDRESSES: Documents are available for review at the Tennessee
Department of Transportation, Division of Aeronautics, 424 Knapp Blvd,
Bldg 4219, Nashville, TN 37217 and the FAA Airports District Office,
2862 Business Park Drive, Building G, Memphis, TN 38118. Written
comments on the Sponsor's request must be delivered or mailed to: Mr.
Phillip J. Braden, Manager, Memphis Airports District Office, 2862
Business Park Drive, Building G, Memphis, TN 38118.
    In addition, a copy of any comments submitted to the FAA must be
mailed or delivered to Mr. Bob Woods, Director, TDOT, Division of
Aeronautics, P.O. Box 17326, Nashville, TN 37217.

FOR FURTHER INFORMATION CONTACT: Mr. Michael Thompson, Program Manager,
Federal Aviation Administration, Memphis Airports District Office, 2862
Business Park Drive, Building G, Memphis, TN 38118. The application may
be reviewed in person at this same location, by appointment.

SUPPLEMENTARY INFORMATION: The FAA proposes to rule and invites public
comment on the request to release property at the Warren County
Memorial Airport, McMinnville, TN. Under the provisions of AIR 21 (49
U.S.C. 47107(h)(2)).
    On September 12, 2008, the FAA determined that the request to
release property at Warren County Memorial Airport submitted by TDOT,
Division of Aeronautics, meets the procedural requirements of the
Federal Aviation Administration. The FAA may approve the request, in
whole or in part, no later than October 29, 2008.
    The following is a brief overview of the request:
    The County of Warren and the Warren County Airport Board, owners of
the Warren County Memorial Airport, are proposing the release of
approximately 13.3 acres of airport property so the property can be
used to accommodate the relocation of Tennessee Highway 70.
    Any person may inspect, by appointment, the request in person at
the FAA office listed above under FOR FURTHER INFORMATION CONTACT.
    In addition, any person may, upon appointment and request, inspect
the request, notice and other documents germane to the request in
person at the Tennessee Department of Transportation, Division of
Aeronautics.

    Issued in Memphis, TN, on September 12, 2008.
Phillip J. Braden,
Manager, Memphis Airports District Office, Southern Region.
[FR Doc. E8-22718 Filed 9-26-08; 8:45 am]

BILLING CODE 4910-13-M


[Federal Register: November 29, 2010 (Volume 75, Number 228)]
[Notices]
[Page 73074-73075]
[DOCID:fr29no10-76]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER11-2066-000]

Duke Energy Washington II, LLC; Supplemental Notice That Initial
Market-Based Rate Filing Includes Request for Blanket Section 204
Authorization

November 18, 2010.
    This is a supplemental notice in the above-referenced proceeding,
of Duke Energy Washington II, LLC's application for market-based rate
authority, with an accompanying rate tariff, noting that

such application includes a request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street, NE.,
Washington, DC 20426, in accordance with Rules 211 and 214 of the
Commission's Rules of Practice and Procedure (18 CFR 385.211 and
385.214). Anyone filing a motion to intervene or protest must serve a
copy of that document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability is December 7, 2010.
    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-referenced proceeding(s) 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 e-mail notification
when a document is added to a subscribed docket(s). For assistance with
any FERC Online service, please e-mail<EMAIL_ADDRESS>or
call<PHONE_NUMBER> (toll free). For TTY, call<PHONE_NUMBER>.

Kimberly D. Bose,
Secretary.
[FR Doc. 2010-29839 Filed 11-26-10; 8:45 am]
BILLING CODE 6717-01-P