[Federal Register Volume 83, Number 8 (Thursday, January 11, 2018)]
[Notices]
[Pages 1391-1396]
[FR Doc No: 2018-00309]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82450; File No. SR-CboeBZX-2017-019]

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change Related to
Market Data Fees

January 5, 2018.
    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 28, 2017, Cboe BZX Exchange, Inc. (the

``Exchange'' or ``BZX'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I, II and III below, which Items have been prepared by the
Exchange. The Exchange has designated the proposed rule change as one
establishing or changing a member due, fee, or other charge imposed by
the Exchange under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-
4(f)(2) thereunder,\4\ which renders the proposed rule change effective
upon filing with the Commission. The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange filed a proposal to amend the Market Data section of
its fee schedule to lower the Internal Distribution \5\ fees and to
adopt per User fees for two market data products, the Cboe One Summary
Feed and the ETF Implied Liquidity Feed.
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    \5\ A ``Distributor'' is defined as ``any entity that receives
the Exchange Market Data product directly from the Exchange or
indirectly through another entity and then distributes it internally
or externally to a third party.'' See the Exchange's fee schedule
available at http://markets.cboe.com/us/equities/membership/fee_schedule/bzx/. An ``Internal Distributor'' is defined as ``a
Distributor that receives the Exchange Market Data product and then
distributes that data to one or more Users within the Distributor's
own entity.'' Id.
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    The text of the proposed rule change is available at the Exchange's
website at www.markets.cboe.com, at the principal office of the
Exchange, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to amend the Market Data section of its fee
schedule to lower the fee for Internal Distribution and to adopt
separate fees for Professional \6\ and Non-Professional Users \7\ for
the Cboe One Summary Feed and the ETF Implied Liquidity Feed.\8\
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    \6\ A ``Professional User'' is defined as ``any User other than
a Non-Professional User.'' See the Exchange's fee schedule available
at http://markets.cboe.com/us/equities/membership/fee_schedule/bzx/.
    \7\ A ``Non-Professional User'' is currently defined as ``a
natural person who is not: (i) Registered or qualified in any
capacity with the Commission, the Commodity Futures Trading
Commission, any state securities agency, any securities exchange or
association, or any commodities or futures contract market or
association; (ii) engaged as an ``investment adviser'' as that term
is defined in Section 202(a)(11) of the Investment Advisers Act of
1940 (whether or not registered or qualified under that Act); or
(iii) employed by a bank or other organization exempt from
registration under federal or state securities laws to perform
functions that would require registration or qualification if such
functions were performed for an organization not so exempt.'' Id.
See SR-CboeBZX-2017-016 (filed December 15, 2017) (amending the
definition of Non-Professional User to harmonize it with that of its
affiliate exchanges, Cboe Exchange, Inc. and C2 Exchange, Inc. as of
January 2, 2018).
    \8\ This Exchange initially filed the proposed rule change on
December 15, 2017 (SR-CboeBZX-2017-017). On December 18, 2018 the
Exchange withdrew SR-CboeBZX-2017-017 and submitted this filing.
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Cboe One Feed
    The Cboe One Feed is an optional data feed that disseminates, on a
real-time basis, the aggregate best bid and offer (``BBO'') of all
displayed orders for securities traded on BZX and its affiliated
exchanges \9\ and for which they report quotes under the Consolidated
Tape Association (``CTA'') Plan or the Nasdaq/UTP Plan.\10\ The Cboe
One Feed also contains the individual last sale information for the
Cboe Equity Exchanges (collectively with the aggregate BBO, the ``Cboe
One Summary Feed''). In addition, the Cboe One Feed contains optional
functionality which enables recipients to receive aggregated two-sided
quotations from the Cboe Equity Exchanges for up to five (5) price
levels (``Cboe One Premium Feed'').
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    \9\ BZX's affiliated exchanges are Cboe EDGA Exchange, Inc.
(``EDGA''), Cboe EDGX Exchange, Inc. (``EDGX''), and Cboe BYX
Exchange, Inc. (``BYX'', together with EDGX, EDGA, and BZX, the
``Cboe Equity Exchanges'').
    \10\ See Exchange Rule 11.22(j). See also Securities Exchange
Act Release No. 73918 (December 23, 2014), 79 FR 78920 (December 31,
2014) (File Nos. SR-EDGX-2014-25; SR-EDGA-2014-25; SR-BATS-2014-055;
SR-BYX-2014-030) (Notice of Amendment No. 2 and Order Granting
Accelerated Approval to Proposed Rule Changes, as Modified by
Amendments Nos. 1 and 2, to Establish a New Market Data Product
called the Cboe One Feed) (``Cboe One Approval Order'').
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    The Exchange proposes to amend its fee schedule to lower the fee
for Internal Distribution for the Cboe One Summary Feed and to adopt
separate fees for Professional and Non-Professional Users.\11\ The
Exchange does not propose to amend the fees for the Cboe One Premium
Feed.
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    \11\ The Exchange also proposes a non-substantive, immaterial
change to the fee table headings to conform to other heading within
the Market Data Section of the fee schedule. In particular, the
Exchange proposes to change the term ``Distributor'' to
``Distribution'' in both the Internal Distributor and External
Distributor headings under the Cboe One Feed.
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    Distribution Fees. Currently, each Internal Distributor that
receives the Cboe One Summary Feed is charged a fee of $10,000 per
month. The Exchange now proposes to lower the fee for Internal
Distribution to $1,500 per month.
    User Fees. Like it does today for External Distributors, the
Exchange proposes to adopt per User fees for Internal Distributors that
receive the Cboe One Summary Feed. The Exchange currently charges
External Distributors that redistribute the Cboe One Summary Feed
different fees for their Professional Users and Non-Professional Users.
Those fees are $10.00 per month for each Professional Users and $0.25
per month for each Non-Professional Users. To date, the Exchange has
not charged per User fees to Internal Distributors for the Cboe One
Summary Feed. To offset the proposed reduction to the monthly Internal
Distribution fee, the Exchange proposes to adopt per User fees for
Internal Distribution, the amounts of each fee would be the same as the
per User fees currently charged to External Distributors described
above.
    The Exchange also proposes to extend the current $50,000 per month
Enterprise Fee available to External Distributors of the Cboe One
Summary Feed to Internal Distributors. In lieu of per User fees, the
Enterprise fee will permit Internal Distributors who redistribute the
Cboe One Summary Feed to an unlimited number of internal Professional
and Non-Professional Users for a set fee of $50,000 per month. For
example, if an Internal Distributor had 15,000 Professional Users who
each receive the Cboe One Summary Feed at $10.00 per month, then that
Internal Distributor will pay $150,000 per month in Professional Users
fees. Under the proposed Enterprise Fee, the Internal Distributor will
pay a flat fee of $50,000 for an unlimited number of internal

Professional and Non-Professional Users of the Cboe One Summary Feed.
An Internal Distributor that pays the Enterprise Fee will not have to
report its number of such Users (as set forth below) on a monthly
basis. However, every six months, an Internal Distributor must provide
the Exchange with a count of the total number of natural person users
of each product, including both Professional and Non-Professional
Users. Like for External Distributors, the Enterprise Fee for Internal
Distributors would be in addition to the applicable Distribution Fee.
ETF Implied Liquidity Feed
    The ETF Implied Liquidity feed is an optional data feed that
provides the Exchange's proprietary calculation of the implied
liquidity and the aggregate best bid and offer (``BBO'') of all
displayed orders on the Cboe Equity Exchange for all standard, non-
leveraged U.S. equity Exchange Traded Funds (``ETFs'') \12\ traded on
the System.\13\ An ETF's implied liquidity disseminated via the
proposed feed would consist of the ETF's implied BBO (including the
implied size) calculated via a proprietary methodology based on the
national best bid and offer (``NBBO''), the number of shares of
securities underlying one creation unit of the ETF, and the estimated
cash included in one creation unit of the ETF.
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    \12\ The securities underlying each of the U.S. equity ETFs
included in the feed must be considered NMS Securities as defined
under Rule 600(b)(46) of Regulation NMS. 17 CFR 242.600(b)(46).
    \13\ See Exchange Rule 11.22(n). See also Securities Exchange
Act Release No. 80580 (May 3, 2017) (SR-BatsBZX-2017-25) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change to
Amend Rule 11.22, Data Products, to Adopt a New Market Data Product
Known as the ETF Implied Liquidity Feed).
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    Similar to as proposed above for the Cboe One Summary Feed, the
Exchange proposes to amend its fee schedule to lower the fee for
Internal Distribution and to adopt separate fees for Professional and
Non-Professional Users.
    Distribution Fees. Currently, each Internal Distributor that
receives the ETF Implied Liquidity Feed is charged a fee of $5,000 per
month. The Exchange now proposes to lower the fee for Internal
Distribution to $1,500 per month. Like it does for External
Distributors today, the Exchange proposes to waive the Distribution fee
for Internal Distributors of the ETF Implied Liquidity Feed that also
receive the Cboe One Feed. The ETF Implied Liquidity Feed and the Cboe
One Feed are similar in that both include the aggregate BBO for all
displayed orders on the Cboe Equity Exchanges. The key difference here
is that the ETF Implied Liquidity Feed also contains the Exchange's
proprietary calculation of the ETF's implied liquidity. As such, the
Exchange believes it is reasonable to waive the Distributor fee for
Internal Distributors of the ETF Implied Liquidity Feed where that
Internal Distributor also receives and is charged the Internal
Distributor fee for the Cboe One Feed. The Exchange notes that the
proposed lower Internal Distribution fee for the ETF Implied Liquidity
Feed of $1,500 per month would equal the proposed Internal Distribution
fee for Cboe One Summary and less than the existing $15,000 per month
Internal Distribution fee for Cboe One Premium.
    User Fees. Like it does today for External Distributors, the
Exchange proposes to charge per User fees to Internal Distributors that
receive the ETF Implied Liquidity Feed. The Exchange currently charges
External Distributors that redistribute the ETF Implied Liquidity Feed
different fees for their Professional Users and Non-Professional Users.
Those fees are $25.00 per month for each Professional Users and $1.00
per month for each Non-Professional Users. To date, the Exchange has
not charged per User fees to Internal Distributors. To offset the
proposed reduction to the monthly Internal Distribution fee, the
Exchange proposes to adopt per User fees for Internal Distribution, the
amounts of each would be the same as the per User fees currently
charged to External Distributors.
User Count Policy
    Like External Distributors of the Cboe One Summary Feed and the ETF
Implied Liquidity Feed, Internal Distributors that receive the Cboe One
Summary Feed and/or ETF Implied Liquidity Feed will be required to
count every Professional User and Non-Professional User to which they
provide the Cboe One Summary Feed and/or ETF Implied Liquidity Feed,
the requirements for which are identical to that currently in place for
External Distributors of the Cboe One Summary Feed and ETF Implied
Liquidity Feed, as well as other market data products offered by the
Exchange.\14\ Thus, the Internal Distributor's count will include every
person and device that accesses the data regardless of the purpose for
which the individual or device uses the data. Internal Distributors
must report all Professional and Non-Professional Users in accordance
with the following:
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    \14\ See Securities Exchange Act Release Nos. 74285 (February
18, 2015); 80 FR 9828 (February 24, 2015) (SR-BATS-2015-11)
(proposing fees for the Cboe One Feed); 75406 (July 9, 2015), 80 FR
41522 (July 15, 2015) (SR-BATS-2015-48) (proposing user fees for the
BZX Top and Last Sale data feeds); 75785 (August 28, 2015), 80 FR
53360 (September 3, 2015) (SR-BATS-2015-64) (proposing fees for BZX
Book Viewer); and 79636 (December 21, 2016), 81 FR 95693 (December
28, 2016) (SR-BatsBZX-2016-87) (proposing fees for BZX Summary
Depth).
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     In connection with an Internal Distributor's distribution
of the Cboe One Summary Feed and/or ETF Implied Liquidity Feed, the
Internal Distributor must count as one User each unique User that the
Internal Distributor has entitled to have access to the Cboe One
Summary Feed and/or ETF Implied Liquidity Feed. However, where a device
is dedicated specifically to a single individual, the Internal
Distributor must count only the individual and need not count the
device.
     The Internal Distributor must identify and report each
unique User. If a User uses the same unique method to gain access to
the Cboe One Summary Feed and/or ETF Implied Liquidity Feed, the
Internal Distributor must count that as one User. However, if a unique
User uses multiple methods to gain access to the Cboe One Summary Feed
and/or the ETF Implied Liquidity Feed (e.g., a single User has multiple
passwords and user identifications), the Internal Distributor must
report each of those methods as an individual User.
     Internal Distributors must report each unique individual
person who receives access through multiple devices as one User so long
as each device is dedicated specifically to that individual.
     If an Internal Distributor entitles one or more
individuals to use the same device, the Distributor must include only
the individuals, and not the device, in the count.
Implementation Date
    The Exchange intends to implement the proposed fees on January 2,
2018.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the objectives of Section 6 of the Act,\15\ in general, and
furthers the objectives of Section 6(b)(4),\16\ in particular, as it is
designed to provide for the equitable allocation of reasonable dues,
fees and other charges among its members and other recipients of
Exchange data. The Exchange believes that the proposed rates are
equitable and non-discriminatory in that they apply

uniformly to all recipients of Exchange data. The Exchange believes the
proposed fees are competitive with those charged by other venues and,
therefore, reasonable and equitably allocated to recipients.
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    \15\ 15 U.S.C. 78f.
    \16\ 15 U.S.C. 78f(b)(4).
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    The Exchange believes that the proposed rule change is consistent
with Section 11(A) of the Act \17\ in that it supports (i) fair
competition among brokers and dealers, among exchange markets, and
between exchange markets and markets other than exchange markets and
(ii) the availability to brokers, dealers, and investors of information
with respect to quotations for and transactions in securities.
Furthermore, the proposed rule change is consistent with Rule 603 of
Regulation NMS,\18\ which provides that any national securities
exchange that distributes information with respect to quotations for or
transactions in an NMS stock do so on terms that are not unreasonably
discriminatory. In adopting Regulation NMS, the Commission granted
self-regulatory organizations and broker-dealers increased authority
and flexibility to offer new and unique market data to the public. It
was believed that this authority would expand the amount of data
available to consumers, and also spur innovation and competition for
the provision of market data.
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    \17\ 15 U.S.C. 78k-1.
    \18\ 17 CFR 242.603.
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    In addition, the proposed fees would not permit unfair
discrimination because all of the Exchange's customers and market data
vendors who subscribe to the Cboe One Summary Feed and ETF Implied
Liquidity Feed will be subject to the proposed fees. The Cboe One
Summary Feed and ETF Implied Liquidity Feed are distributed and
purchased on a voluntary basis, in that neither the Exchange nor market
data distributors are required by any rule or regulation purchase this
data or to make this data available. Accordingly, Distributors and
Users can discontinue use at any time and for any reason, including due
to an assessment of the reasonableness of fees charged. Firms have a
wide variety of alternative market data products from which to choose,
such as similar proprietary data products offered by other exchanges
and consolidated data. Moreover, the Exchange is not required to make
any proprietary data products available or to offer any specific
pricing alternatives to any customers.
    In addition, the fees that are the subject of this rule filing are
constrained by competition. As explained below in the Exchange's
Statement on Burden on Competition, the existence of alternatives to
the Cboe One Summary Feed and ETF Implied Liquidity Feed further ensure
that the Exchange cannot set unreasonable fees, or fees that are
unreasonably discriminatory, when vendors and subscribers can elect
such alternatives. That is, the Exchange competes with other exchanges
(and their affiliates) that provide similar market data products. For
example, the Cboe One Summary Feed and/or ETF Implied Liquidity Feed
provides investors with alternative market data and competes with
similar market data product currently offered by other exchanges. If
another exchange (or its affiliate) were to charge less to distribute
its similar product than the Exchange charges to create the Cboe One
Summary Feed and/or ETF Implied Liquidity Feed, prospective Users
likely would not subscribe to, or would cease subscribing to either
market data product.
    The Exchange notes that the Commission is not required to undertake
a cost-of-service or rate-making approach. The Exchange believes that,
even if it were possible as a matter of economic theory, cost-based
pricing for non-core market data would be so complicated that it could
not be done practically.\19\
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    \19\ The Exchange believes that cost-based pricing would be
impractical because it would create enormous administrative burdens
for all parties, including the Commission, to cost-regulate a large
number of participants and standardize and analyze extraordinary
amounts of information, accounts, and reports. In addition, it is
impossible to regulate market data prices in isolation from prices
charged by markets for other services that are joint products. Cost-
based rate regulation would also lead to litigation and may distort
incentives, including those to minimize costs and to innovate,
leading to further waste. Under cost-based pricing, the Commission
would be burdened with determining a fair rate of return, and the
industry could experience frequent rate increases based on
escalating expense levels. Even in industries historically subject
to utility regulation, cost-based ratemaking has been discredited.
As such, the Exchange believes that cost-based ratemaking would be
inappropriate for proprietary market data and inconsistent with
Congress's direction that the Commission use its authority to foster
the development of the national market system, and that market
forces will continue to provide appropriate pricing discipline. See
Appendix C to NYSE's comments to the Commission's 2000 Concept
Release on the Regulation of Market Information Fees and Revenues,
which can be found on the Commission's website at http://www.sec.gov/rules/concept/s72899/buck1.htm. See also Securities
Exchange Act Release No. 73816 (December 11, 2014), 79 FR 75200
(December 17, 2014) (SR-NYSE-2014-64) (Notice of Filing and
Immediate Effectiveness of Proposed Rule Change to Establish an
Access Fee for the NYSE Best Quote and Trades Data Feed, Operative
December 1, 2014).
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    The Exchange believes that lowering the Internal Distribution fee
for both the Cboe One Summary Feed and the ETF Implied Liquidity Feed
is equitable and reasonable because the lower fee coupled with the
adoption of per User fees is designed to provide a price structure for
Internal Distributors that is competitive and attracts additional
subscribers to each market data feed. The Exchange also believes that
it is reasonable to charge a lower fee to Internal Distributors than
External Distributors because External Distributors redistribute the
data to their subscribers for a fee while Internal Distributors do not.
    The Exchange believes it is reasonable to waive the Distributor fee
for Internal Distributors of the ETF Implied Liquidity Feed that also
receive the Cboe One Feed as both include the aggregate BBO for all
displayed orders on the Cboe Equity Exchanges and an identical waiver
is currently granted to External Distributors. The key difference here
is that the ETF Implied Liquidity Feed also contains the Exchange's
proprietary calculation of the ETF's implied liquidity. Waiver of the
Distributor fee for Internal Distributors that also receive and pay the
Internal Distributor for the Cboe One Feed is equitable and reasonable
because those Internal Distributors are being charged the Internal
Distributor fees for the Cboe One Feed, which would be charged the
proposed rate of $1,500 per month for Cboe One Summary and the existing
rate of $15,000 per month for Cboe One Premium. The fee waiver here is
equitable due to both products providing the same key data element--the
aggregated BBO of the Cboe Equity Exchanges. While the ETF Implied
Liquidity Feed also includes the Exchange's proprietary calculation of
an ETF's implied liquidity, the Exchange notes that Internal
Distributors of the ETF Implied Liquidity Feed would now be subject to
the per User fees. Therefore, the Exchange believes it is equitable and
reasonable to waive the Internal Distributor fees in such case. The
Exchange did not previously extend this waiver to Internal Distributors
because Internal Distributors of the Cboe One Feed were not charged
User fees like External Distributors. Since that is no longer the case,
the Exchange believes it is reasonable to extend the waiver to Internal
Distributors as proposed herein.
    The Exchange believes that implementing the Professional and Non-
Professional User fees for the Cboe One Summary Feed and the ETF
Implied Liquidity Feed are equitable and reasonable because they will
result in greater availability to Professional and Non-Professional
Users. The addition of per User fees also enables the fee for

Internal Distribution, thereby lowering their overall costs where the
number of Users they account for is low. Moreover, introducing a modest
Non-Professional User fee is reasonable because it provides an
additional method for Non-Professional investors to access the data by
providing the same data that is available to Professional Users. The
Exchange believes that the proposed fees are equitable and not unfairly
discriminatory because they will be charged uniformly to Internal
Distributors and Users. The Exchange notes that the amount of the per
User fees for Internal Distribution equal those charged for External
Distribution for both the Cboe One Summary Feed and ETF Implied
Liquidity Feed.
    The fee structure of differentiated Professional and Non-
Professional fees is utilized by the Exchange for the Cboe One Feed and
has long been used by other exchanges for their proprietary data
products, and by the Nasdaq UTP and the CTA and CQ Plans in order to
reduce the price of data to retail investors and make it more broadly
available.\20\ Offering the Cboe One Summary Feed and ETF Implied
Liquidity Feed to Non-Professional Users with the same data available
to Professional Users results in greater equity among data recipients.
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    \20\ See Securities Exchange Act Release Nos. 74285 (February
18, 2015), 80 FR 9828 (February 24, 2015) (SR-BATS-2015-11); 74283
(February 18, 2015), 80 FR 9809 (February 24, 2015) (SR-EDGA-2015-
09); 74282 (February 17, 2015), 80 FR 9487 (February 23, 2015) (SR-
EDGX-2015-09); and 74284 (February 18, 2015), 80 FR 9792 (February
24, 2015) (SR-BYX-2015-09) (``Initial Cboe One Feed Fee Filings'').
See also, e.g., Securities Exchange Act Release No. 20002, File No.
S7-433 (July 22, 1983) (establishing nonprofessional fees for CTA
data); and Nasdaq Rules 7023(b) and 7047.
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    The proposed expansion of the Enterprise Fee to Internal
Distributors of the Cboe One Summary Feed is reasonable because it
could result in a fee reduction for Internal Distributors with a large
number of Professional and Non-Professional Users. If an Internal
Distributor has a smaller number of Professional Users of the Cboe One
Summary Feed, then it may continue using the per User structure. By
reducing prices for Internal Distributors with a large number of
Professional and Non-Professional Users, the Exchange believes that
more Internal Distributors may choose to receive and to distribute the
Cboe One Summary Feed, thereby expanding the distribution of this
market data for the benefit of investors.
    The Exchange further believes that the proposed Enterprise Fee is
reasonable because it will simplify reporting for certain Internal
Distributors that have large numbers of Professional and Non-
Professional Users. Internal Distributors that pay the proposed
Enterprise Fee will not have to report the number of Users on a monthly
basis as they currently do, but rather will only have to count natural
person users every six months, which is a significant reduction in
administrative burden. Finally, the Exchange believes that it is
equitable and not unfairly discriminatory to establish an Enterprise
Fee because it reduces the Exchange's costs and the Distributor's
administrative burdens in tracking and auditing large numbers of Users.

(B) Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act, as amended. The
Exchange's ability to price the Cboe One Summary Feed and the ETF
Implied Liquidity Feed is constrained by: (i) Competition among
exchanges, other trading platforms, and Trade Reporting Facilities
(``TRF'') that compete with each other in a variety of dimensions; (ii)
the existence of inexpensive real-time consolidated data and market-
specific data and free delayed data; and (iii) the inherent
contestability of the market for proprietary data.
    The Exchange and its market data products are subject to
significant competitive forces and the proposed fees represent
responses to that competition. To start, the Exchange competes
intensely for order flow. It competes with the other national
securities exchanges that currently trade equities, with electronic
communication networks, with quotes posted in FINRA's Alternative
Display Facility, with alternative trading systems, and with securities
firms that primarily trade as principal with their customer order flow.
The Cboe One Summary Feed will enhance competition because it not only
provides content that is competitive with the similar products offered
by other exchanges, but will provide pricing that is competitive as
well. The Cboe One Summary Feed provides investors with an alternative
option for receiving market data and competes directly with similar
market data products currently offered by the NYSE and Nasdaq.\21\
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    \21\ See Nasdaq Basic, http://www.nasdaqtrader.com/Trader.aspx?id=nasdaqbasic (data feed offering the BBO and Last Sale
information for all U.S. exchange-listed securities based on
liquidity within the Nasdaq market center, as well as trades
reported to the FINRA/Nasdaq Trade Reporting Facility
(``TRF''));Nasdaq NLS Plus, http://www.nasdaqtrader.com/Trader.aspx?id=NLSplus (data feed providing last sale data as well
as consolidated volume from the following Nasdaq OMX markets for
U.S. exchange-listed securities: Nasdaq, FINRA/Nasdaq TRF, Nasdaq
OMX BX, and Nasdaq OMX PSX); Securities Exchange Act Release No.
73553 (November 6, 2014), 79 FR 67491 (November 13, 2014) (SR-NYSE-
2014-40) (Notice of Amendment No. 1 and Order Granting Accelerated
Approval to a Proposed Rule Change, as Modified by Amendment No.1,
To Establish the NYSE Best Quote & Trades (``BQT'') Data Feed);
https://www.nyse.com/market-data/real-time/nyse-bqt (data feed
providing unified view of BBO and last sale information for the
NYSE, NYSE Arca, and NYSE MKT).
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    In addition, when establishing the proposed fees, the Exchange
considered the competitiveness of the market for proprietary data and
all of the implications of that competition. The Exchange believes that
it has considered all relevant factors and has not considered
irrelevant factors in order to establish fair, reasonable, and not
unreasonably discriminatory fees and an equitable allocation of fees
among all Users. The existence of alternatives to the Cboe One Summary
Feed and the ETF Implied Liquidity Feed ensures that the Exchange
cannot set unreasonable fees, or fees that are unreasonably
discriminatory, when vendors and subscribers can elect these
alternatives or choose not to purchase a specific proprietary data
product if its cost to purchase is not justified by the returns any
particular vendor or subscriber would achieve through the purchase.
    Lastly, the Exchange represents that the proposed pricing of the
Cboe One Summary Feed and the ETF Implied Liquidity Feed provides
investors with alternative market data and competes with similar market
data product currently offered by other exchanges.\22\ In addition, the
Exchange notes the concerns regarding whether a competing vendor could
create a similar product on the same price basis as the Exchange

are not present here. The proposed changes are limited to fees for
Internal Distributers who use the data for internal use only and not
for the redistribution and sale to external parties.
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    \22\ Id. See also Nasdaq's Global Index Data Service (``GIDS'')
available at http://business.nasdaq.com/intel/indexes/index-data/index.html#!/tcm:5044-12151 (providing on a real-time basis intraday
portfolio values, daily valuation information, such as NAV per
Share, estimated cash per Share, estimated cash per creation unit,
total cash per creation unit and total shares outstanding of the
fund and ETF directory messages designed to provide the symbols of
the ETF valuations). See footnote 28 of Securities Exchange Act
Release No. 77714 (April 26, 2016), 81 FR 26281 (May 2, 2016)
(describing Nasdaq's GIDS within the order approving SR-Nasdaq-2016-
028). See also footnote 29 of Securities Exchange Act Release No.
78592 (August 16, 2016), 81 FR 56729 (August 22, 2016) (describing
Nasdaq's GIDS within the order approving SR-Nasdaq-2016-061). See,
e.g., the NYSE Arca, Inc.'s (``NYSE Arca'') EOD ETF Report available
at http://www.nyxdata.com/Data-Products/NYSE-Arca-EOD-ETF-Report
(providing information such as the ETF's closing trades and quotes
at different key points during the trading day, as well referential
information such as shares outstanding, the primary market, and
NAV).
---------------------------------------------------------------------------

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

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

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \23\ and paragraph (f) of Rule 19b-4
thereunder.\24\ 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.
---------------------------------------------------------------------------

    \23\ 15 U.S.C. 78s(b)(3)(A).
    \24\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------

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 protected]. Please include
File Number SR-CboeBZX-2017-019 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-CboeBZX-2017-019. 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-CboeBZX-2017-019 and should be submitted
on or before February 1, 2018.
---------------------------------------------------------------------------

    \25\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\25\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-00309 Filed 1-10-18; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 87, Number 231 (Friday, December 2, 2022)]
[Rules and Regulations]
[Pages 73919-73921]
[FR Doc No: 2022-26274]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2022-1158; Project Identifier MCAI-2022-00771-E;
Amendment 39-22246; AD 2022-24-06]
RIN 2120-AA64

Airworthiness Directives; Rolls-Royce Deutschland Ltd & Co KG
(Type Certificate Previously Held by Rolls-Royce plc) Turbofan Engines

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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

SUMMARY: The FAA is adopting a new airworthiness directive (AD) for
certain Rolls-Royce Deutschland Ltd & Co KG (RRD) BR700-710A1-10,
BR700-710A2-20, and BR700-710C4-11 model turbofan engines. This AD was
prompted by reports of cracks on certain low-pressure compressor (LPC)
rotor (fan) disks. This AD requires initial and repetitive visual
inspections of certain LPC rotor fan disks and, depending on the
results of the inspections, replacement of any LPC rotor fan disk with
cracks detected. This AD also allows modification of the engine in
accordance with RRD service information as a terminating action to
these inspections, as specified in a European Union Aviation Safety
Agency (EASA) AD, which is incorporated by reference (IBR). The FAA is
issuing this AD to address the unsafe condition on these products.

DATES: This AD is effective January 6, 2023.
    The Director of the Federal Register approved the incorporation by
reference of a certain publication listed in this AD as of January 6,
2023.

ADDRESSES:
    AD Docket: You may examine the AD docket at regulations.gov under
Docket No. FAA-2022-1158; or in person at Docket Operations between 9
a.m. and 5 p.m., Monday through Friday, except Federal holidays. The AD
docket contains this final rule, the mandatory continuing airworthiness
information (MCAI), any comments received, and other information. The
address for Docket Operations is U.S. Department of Transportation,
Docket Operations, M-30, West Building Ground Floor, Room W12-140, 1200
New Jersey Avenue SE, Washington, DC 20590.
    Material Incorporated by Reference:
     For material that is proposed for IBR in this AD, contact
EASA, Konrad-Adenauer-Ufer 3, 50668 Cologne, Germany; phone: +49 221
8999 000; email: [email protected]. You may find this material on the
EASA website at ad.easa.europa.eu.
     You may view this material at the FAA, Airworthiness
Products Section, Operational Safety Branch, 1200 District Avenue,
Burlington, MA 01803. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>. It is also available at
regulations.gov under Docket No. FAA-2022-1158.

FOR FURTHER INFORMATION CONTACT: Sungmo Cho, Aviation Safety Engineer,
ECO Branch, FAA, 1200 District Avenue, Burlington, MA 01803; phone:
(781) 238-7241; email: [email protected].

SUPPLEMENTARY INFORMATION:

Background

    The FAA issued a notice of proposed rulemaking (NPRM) to amend 14
CFR part 39 by adding an AD that would apply to certain RRD BR700-
710A1-10, BR700-710A2-20, and BR700-710C4-11 model turbofan engines.
The NPRM published in the Federal Register on September 14, 2022 (87 FR
56284). The NPRM was prompted by EASA AD 2022-0110, dated June 15,
2022, issued by EASA, which is the Technical Agent for the Member
States of the European Union (referred to after this as ``the MCAI'').
The MCAI states that there

have been reports of cracks on certain LPC rotor fan disks.
    In the NPRM, the FAA proposed to require accomplishing the actions
specified in EASA AD 2022-0110, described previously, except for any
differences or exceptions identified in the NPRM. The FAA is issuing
this AD to address the unsafe condition on these products.

Discussion of Final Airworthiness Directive

Comments

    The FAA received no comments on the NPRM or on the determination of
the costs.

Conclusion

    These products have been approved by the aviation authority of
another country and are approved for operation in the United States.
Pursuant to the FAA's bilateral agreement with this State of Design
Authority, it has notified the FAA of the unsafe condition described in
the MCAI referenced above. The FAA reviewed the relevant data and
determined that air safety requires adopting this AD as proposed.
Accordingly, the FAA is issuing this AD to address the unsafe condition
on these products. Except for minor editorial changes, this AD is
adopted as proposed in the NPRM.

Related Service Information Under 1 CFR Part 51

    The FAA reviewed EASA AD 2022-0110. EASA AD 2022-0110 specifies
procedures for initial and repetitive visual inspections of certain LPC
rotor fan disks, and replacement of any LPC rotor fan disk with cracks
detected.
    This service information is reasonably available because the
interested parties have access to it through their normal course of
business or by the means identified in ADDRESSES.

Other Related Service Information

    The FAA reviewed RRD BR700 Series Propulsion System Service
Bulletin (SB) SB-BR700-72-101474, Revision 1, dated November 18, 2014
(RRD BR700 Series Propulsion System SB SB-BR700-72-101474); RRD BR700
Series Propulsion System SB SB-BR700-72-101952, Initial Issue, dated
December 1, 2016 (RRD BR700 Series Propulsion System SB SB-BR700-72-
101952); and RRD BR700 Series Propulsion System SB SB-BR700-72-A900732,
Initial Issue, dated June 7, 2022 (RRD BR700 Series Propulsion System
SB SB-BR700-72-A900732).
    RRD BR700 Series Propulsion System SB-BR700-72-101474 and RRD BR700
Series Propulsion System SB SB-BR700-72-101952 describe procedures for
the modification of the engine as a terminating action to the initial
and repetitive visual inspections of certain LPC rotor fan disks. RRD
BR700 Series Propulsion System SB SB-BR700-72-A900732 specifies
procedures for initial and repetitive visual inspections of certain LPC
rotor fan disks.

Costs of Compliance

    The FAA estimates that this AD affects 2,068 engines installed on
airplanes of U.S. registry.
    The FAA estimates the following costs to comply with this AD:

                                                 Estimated Costs
----------------------------------------------------------------------------------------------------------------
                                                                                Cost per      Cost on U.S.
                Action                         Labor cost           Parts cost        product        operators
----------------------------------------------------------------------------------------------------------------
Inspect LPC compressor rotor fan disk.  4 work-hours x $85 per                $0            $340        $703,120
                                         hour = $340.
----------------------------------------------------------------------------------------------------------------

    The FAA estimates the following costs to do any necessary
replacements that are required based on the results of the inspection.
The agency has no way of determining the number of aircraft that might
need these replacements:

                                               On-Condition Costs
----------------------------------------------------------------------------------------------------------------
                                                                                Cost per
                    Action                                 Labor cost               Parts cost        product
----------------------------------------------------------------------------------------------------------------
Replace LPC compressor rotor fan disk.........  10 work-hours x $85 per hour =          $470,000        $470,850
                                                 $850.
----------------------------------------------------------------------------------------------------------------

Authority for This Rulemaking

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

Regulatory Findings

    This AD will not have federalism implications under Executive Order
13132. This AD will not have a substantial direct effect on the States,
on the relationship between the national government and the States, or
on the distribution of power and responsibilities among the various
levels of government.
    For the reasons discussed above, I certify that this AD:
    (1) Is not a ``significant regulatory action'' under Executive
Order 12866,
    (2) Will not affect intrastate aviation in Alaska, and
    (3) Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 39

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

The Amendment

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

PART 39--AIRWORTHINESS DIRECTIVES

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

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

Sec.  39.13   [Amended]

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

2022-24-06 Rolls-Royce Deutschland Ltd & Co KG (Type Certificate
previously held by Rolls-Royce plc): Amendment 39-22246; Docket No.
FAA-2022-1158; Project Identifier MCAI-2022-00771-E.

(a) Effective Date

    This airworthiness directive (AD) is effective January 6, 2023.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to Rolls-Royce Deutschland Ltd & Co KG (RRD)
BR700-710A1-10, BR700-710A2-20, and BR700-710C4-11 model turbofan
engines as identified in European Union Aviation Safety Agency AD
2022-0110, dated June 15, 2022 (EASA AD 2022-0110).

(d) Subject

    Joint Aircraft Service Component (JASC) Code 7230, Turbine
Engine Compressor Section.

(e) Unsafe Condition

    This AD was prompted by reports of cracks on certain low-
pressure compressor (LPC) rotor (fan) disks. The FAA is issuing this
AD to prevent failure of the LPC rotor fan or blade. The unsafe
condition, if not addressed, could result in high energy debris
release, damage to the airplane, and reduced control of the
airplane.

(f) Compliance

    Comply with this AD within the compliance times specified,
unless already done.

(g) Required Actions

    Except as specified in paragraphs (h) and (i) of this AD:
Perform all required actions within the compliance times specified
in, and in accordance with, EASA AD 2022-0110.

(h) Exceptions to EASA AD 2022-0110

    (1) Where EASA AD 2022-0110 requires compliance from its
effective date, this AD requires using the effective date of this
AD.
    (2) The ``Remarks'' section of EASA AD 2022-0110 does not apply
to this AD.

(i) No Reporting Requirement

    Although the service information referenced in EASA AD 2022-0110
specifies to submit certain information to the manufacturer, this AD
does not include that requirement.

(j) Alternative Methods of Compliance (AMOCs)

    The Manager, ECO Branch, FAA, has the authority to approve AMOCs
for this AD, if requested using the procedures found in Sec.  39.19.
In accordance with Sec.  39.19, send your request to your principal
inspector or local Flight Standards District Office, as appropriate.
If sending information directly to the manager of the certification
office, send it to the attention of the person identified in
paragraph (k) of this AD and email to: [email protected].
    Before using any approved AMOC, notify your appropriate
principal inspector, or lacking a principal inspector, the manager
of the local flight standards district office/certificate holding
district office.

(k) Additional Information

    For more information about this AD, contact Sungmo Cho, Aviation
Safety Engineer, ECO Branch, FAA, 1200 District Avenue, Burlington,
MA 01803; phone:<PHONE_NUMBER>; email: [email protected].

(l) Material Incorporated by Reference

    (1) The Director of the Federal Register approved the
incorporation by reference of the service information listed in this
paragraph under 5 U.S.C. 552(a) and 1 CFR part 51.
    (2) You must use this service information as applicable to do
the actions required by this AD, unless the AD specifies otherwise.
    (i) European Union Aviation Safety Agency AD 2022-0110, dated
June 15, 2022.
    (ii) [Reserved]
    (3) For EASA AD 2022-0110, contact EASA, Konrad-Adenauer-Ufer 3,
50668 Cologne, Germany; phone: +49 221 8999 000; email:
[email protected]. You may find this EASA AD on the EASA website at
ad.easa.europa.eu.
    (4) You may view this service information at FAA, Airworthiness
Products Section, Operational Safety Branch, 1200 District Avenue,
Burlington, MA 01803. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>.
    (5) You may view this service information that is incorporated
by reference at the National Archives and Records Administration
(NARA). For information on the availability of this material at
NARA, email: [email protected], or go to: www.archives.gov/federal-register/cfr/ibr-locations.html.

    Issued on November 14, 2022.
Christina Underwood,
Acting Director, Compliance & Airworthiness Division, Aircraft
Certification Service.
[FR Doc. 2022-26274 Filed 12-1-22; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 82, Number 131 (Tuesday, July 11, 2017)]
[Notices]
[Pages 32050-32051]
[FR Doc No: 2017-14468]

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DEPARTMENT OF TRANSPORTATION

Pipeline and Hazardous Materials Safety Administration

Hazardous Materials: Notice of Applications for Special Permits

AGENCY: Pipeline and Hazardous Materials Safety Administration (PHMSA),
DOT.

ACTION: List of applications for special permits.

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

SUMMARY: In accordance with the procedures governing the application
for, and the processing of, special permits from the Department of
Transportation's Hazardous Material Regulations, notice is hereby given
that the Office of Hazardous Materials Safety has received the
application described herein. Each mode of transportation for which a
particular special permit is requested is indicated by a number in the
``Nature of Application'' portion of the table below as follows: 1--
Motor vehicle, 2--Rail freight, 3--Cargo vessel, 4--Cargo aircraft
only, 5--Passenger-carrying aircraft.

DATES: Comments must be received on or before August 10, 2017.

ADDRESSES: Record Center, Pipeline and Hazardous Materials Safety
Administration U.S. Department of Transportation Washington, DC 20590.
    Comments should refer to the application number and be submitted in
triplicate. If confirmation of receipt of comments is desired, include
a self-addressed stamped postcard showing the special permit number.

FOR FURTHER INFORMATION CONTACT: Ryan Paquet, Director, Office of
Hazardous Materials Approvals and Permits Division, Pipeline and
Hazardous Materials Safety Administration, U.S. Department of
Transportation, East Building, PHH-30, 1200 New Jersey Avenue SE.,
Washington, DC 20590-0001,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Copies of the applications are available for
inspection in the Records Center, East Building, PHH-30, 1200 New
Jersey Avenue SE., Washington DC or at http://regulations.gov.
    This notice of receipt of applications for special permit is
published in accordance with Part 107 of the Federal hazardous
materials transportation law (49 U.S.C. 5117(b); 49 CFR 1.53(b)).

    Issued in Washington, DC, on June 29, 2017.
Donald Burger,
Chief, Office of the Special Permits and Approvals.

----------------------------------------------------------------------------------------------------------------
                                                                   Regulation(s)         Nature of the special
    Application No.       Docket No.          Applicant               affected              permits thereof
----------------------------------------------------------------------------------------------------------------
                                              Special Permits Data
----------------------------------------------------------------------------------------------------------------
20476-N...............  ..............  A123 Systems LLC.....  172.101(j),            To authorize the
                                                                173.185(b).            transportation in
                                                                                commerce of lithium ion
                                                                                batteries exceeding 35 kg
                                                                                by cargo-only aircraft.
                                                                                (mode 4)

20477-N...............  ..............  Lithionics Battery,    172.101(j)...........  To authorize the
                                         LLC.                                          transportation in
                                                                                commerce of lithium ion
                                                                                batteries exceeding 35 kg
                                                                                by cargo-only aircraft.
                                                                                (mode 4)
20478-N...............  ..............  Thermo MF Physics LLC  173.304(a)...........  To authorize the
                                                                                transportation in
                                                                                commerce of sulfur
                                                                                hexafluoride in non-
                                                                                specification packaging.
20480-N...............  ..............  Carolina Logistics     172.301(c),            To authorize the
                                         Services, L.L.C.       172.303(a),            transportation in
                                                                173.185(c)(1)(ii),     commerce of packages
                                                                173.185(c)(1)(iii),    containing lithium cells
                                                                173.185(c)(1)(iv),     and batteries without
                                                                173.185(c)(3).         certain package markings
                                                                                when contained in
                                                                                overpacks and transported
                                                                                via motor vehicle and
                                                                                rail. (modes 1, 2)
20481-N...............  ..............  Advanced Green         173.212..............  To authorize the
                                         Innovations, LLC.                             manufacture, mark, sale,
                                                                                and use of non-DOT
                                                                                specification pressure
                                                                                vessels for the
                                                                                transportation of certain
                                                                                Division 4.2 materials.
                                                                                (modes 1, 2, 3)
20482-N...............  ..............  Phosphorus             173.35(e)............  To authorize the
                                         Derivatives Inc..                             transportation in
                                                                                commerce of residue
                                                                                contained in IBCs where
                                                                                the closure nearest to
                                                                                the hazardous materials
                                                                                cannot be secured. (mode
                                                                                1)
20484-N...............  ..............  Teledyne Brown         173.62(c),             To authorize the
                                         Engineering, Inc.      173.62(c)(2),          transportation in
                                                                173.62(c)(4),          commerce of Class 1
                                                                173.302(a).            materials and non-DOT
                                                                                specification cylinders
                                                                                contained in space launch
                                                                                systems. (modes 1, 3)
20490-N...............  ..............  Rotak LLC............  172.101(j), 172.200,   To authorize the
                                                                172.204(c)(3),         transportation in
                                                                172.301(c),            commerce of certain
                                                                173.27(b)(2),          hazardous materials which
                                                                175.30(a)(1), 175.75.  are forbidden for
                                                                                transportation by air or
                                                                                exceed quantity
                                                                                limitations, to be
                                                                                transported by cargo
                                                                                aircraft either inside
                                                                                the aircraft or in
                                                                                external load
                                                                                configuration within the
                                                                                state of Alaska and the
                                                                                48 contiguous states when
                                                                                other means of
                                                                                transportation are
                                                                                impracticable or not
                                                                                available. (mode 4)
20491-N...............  ..............  Rotak LLC............  172.101(j),            To authorize the
                                                                172.204(c)(3),         transportation in
                                                                172.301(c),            commerce of certain class
                                                                173.27(b)(2),          1 hazardous materials
                                                                175.30(a)(1), 175.75.  which are forbidden for
                                                                                transportation by air, to
                                                                                be transported in Part
                                                                                133 rotorcraft external
                                                                                load operations attached
                                                                                to or suspended from an
                                                                                aircraft, in remote areas
                                                                                of the State of Alaska
                                                                                and the contiguous 48
                                                                                states, without being
                                                                                subject to hazard
                                                                                communication
                                                                                requirements, quantity
                                                                                limitations and certain
                                                                                loading and stowage
                                                                                requirements. (mode 4)
----------------------------------------------------------------------------------------------------------------

[FR Doc. 2017-14468 Filed 7-10-17; 8:45 am]
BILLING CODE 4909-60-P