[Federal Register Volume 84, Number 45 (Thursday, March 7, 2019)]
[Notices]
[Pages 8353-8355]
[FR Doc No: 2019-04087]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-85225; File No. SR-EMERALD-2019-06]

Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend
Exchange Rule 510, Minimum Price Variations and Minimum Trading
Increments To Extend the Penny Pilot Program

March 1, 2019.
    Pursuant to the provisions of Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice
is hereby given that on February 19, 2019, MIAX Emerald, LLC (``MIAX
Emerald'' or the ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') a proposed rule change as described in
Items I and II below, which Items have been prepared by the Exchange.
The Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange is filing a proposal to amend Exchange Rule 510,
Minimum Price Variations and Minimum Trading Increments,
Interpretations and Policies .01 to change the date on which the pilot
program for the quoting and trading of certain options in pennies is
scheduled to expire.
    The text of the proposed rule change is available on the Exchange's
website at http://www.miaxoptions.com/rule-filings/emerald, at MIAX
Emerald's principal office, and at the Commission's Public Reference
Room.

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

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

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

1. Purpose
Background
    MIAX Emerald plans to commence operations as a national securities
exchange registered under Section 6 of the Act \3\ on March 1, 2019. As
described more fully in MIAX Emerald's Form 1 application,\4\ the
Exchange is an affiliate of Miami International Securities Exchange,
LLC (``MIAX Options'') and MIAX PEARL, LLC (``MIAX PEARL''). MIAX
Emerald Rules, in their current form, were filed as Exhibit B to its
Form 1 on August 16, 2018, and at that time, the above mentioned rules,
were substantially similar to the rules of the MIAX Options exchange.
In the time between when the Exchange filed its Form 1 and the time the
Exchange received its approval order, MIAX Options made changes to its
rule book. In order to ensure consistent operation of both MIAX Emerald
and MIAX Options by having consistent rules, the Exchange proposes to
amend MIAX Emerald Rule 510, as described below.
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    \3\ 15 U.S.C. 78f.
    \4\ See Securities Exchange Act Release No. 84891 (December 20,
2018), 83 FR 67421 (December 28, 2018) (File No. 10-233) (order
approving application of MIAX EMERALD, LLC for registration as a
national securities exchange).
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Proposal
    Once operational, the Exchange will be a participant in an
industry-wide pilot program that provides for the quoting and trading
of certain option classes in penny increments (the ``Penny Pilot
Program'' or ``Program''). The Penny Pilot Program allows the quoting
and trading of certain option classes in minimum increments of $0.01
for all series in such option classes with a price of less than $3.00;
and in minimum increments of $0.05 for all series in such option
classes with a price of $3.00 or higher. Options overlying the
PowerShares QQQTM (``QQQ''), SPDR[supreg] S&P 500[supreg]
ETF (``SPY''), and iShares[supreg] Russell 2000 ETF (``IWM''), however,
are quoted and traded in minimum increments of $0.01 for all series
regardless of the price. The Penny Pilot Program was initiated at the
then existing option exchanges in January 2007 \5\ and currently
includes more than 300 of the most active option classes. Rule 510,
Interpretations and Policies .01, currently states that the Penny Pilot
Program is scheduled to expire on December 31, 2018. The purpose of the
proposed rule change is to modify the expiration date set forth in Rule
510, to match the most recent expiration date, as updated by the other
options exchanges, including MIAX Options.\6\
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    \5\ See Securities Exchange Act Release Nos. 55154 (January 23,
2007), 72 FR 4743 (February 1, 2007) (SR-CBOE-2006-92); 55161
(January 24, 2007), 72 FR 4754 (February 1, 2007) (SR-ISE-2006-62);
54886 (December 6, 2006), 71 FR 74979 (December 13, 2006) (SR-Phlx-
2006-74); 54590 (October 12, 2006), 71 FR 61525 (October 18, 2006)
(SR-NYSEArca-2006-73); and 54741 (November 9, 2006), 71 FR 67176
(November 20, 2006) (SR-Amex-2006-106).
    \6\ See Securities Exchange Act Release No. 84864 (December 19,
2018), 83 FR 66778 (December 27, 2018) (SR-MIAX-2018-38) (extending
the Penny Pilot Program from December 31, 2018 to June 30, 2019).
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    In addition to changing the date on which the Penny Pilot Program
will expire, which will be June 30, 2019, the Exchange proposes to make
one additional change to the Rule. Currently, Interpretations and
Policies .01, states that the Exchange will replace any Penny Pilot
issues that have been delisted with the next most actively traded
multiply listed option classes that are not yet included in the Penny
Pilot Program, and that the replacement issues will be selected based
on trading activity in the previous six months. Such option classes
will be added to the Penny Pilot Program on the second trading day
following July 1, 2018.\7\

However, this date has expired and although the Exchange intends to
adhere to this practice for the duration of the Penny Pilot Program,
the new date on which replacement issues may be added to the Penny
Pilot Program would have been the second trading day following January
1, 2019, which has already passed. Therefore, the Exchange proposes to
delete the sentence which currently states that ``[t]he replacement
classes may be added to the penny pilot on the second trading day
following July 1, 2018,'' and not replace the current date of July 1,
2018 with the date of January 1, 2019. The Exchange notes that this
would create a difference between the rule text of MIAX Emerald and
that of MIAX Options,\8\ however, in practice there would be no
difference as the second trading day following January 1, 2019 has
already passed.
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    \7\ The month immediately preceding a replacement class's
addition to the Pilot Program (i.e., December) is not used for
purposes of the six-month analysis. For example, a replacement added
on the second trading day following January 1, 2019, will be
identified based on trading activity from June 1, 2018, through
November 30, 2018.
    \8\ See supra note 6.
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2. Statutory Basis
    The Exchange believes that its proposed rule change is consistent
with Section 6(b) of the Act \9\ in general, and furthers the
objectives of Section 6(b)(5) of the Act \10\ in particular, in that it
is designed to prevent fraudulent and manipulative acts and practices,
to promote just and equitable principles of trade, to foster
cooperation and coordination with persons engaged in facilitating
transactions in securities, to remove impediments to and perfect the
mechanisms of a free and open market and a national market system and,
in general, to protect investors and the public interest.
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    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(5).
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    In particular, the proposed rule change, which modifies the
expiration date of the Penny Pilot Program set forth in Rule 510, to
match the most recent expiration date, as updated by the other options
exchanges, will allow the Exchange to participate in a program that has
been viewed as beneficial to traders, investors and public customers
and viewed as successful by the other options exchanges participating
in it.
    Additionally, the Exchange believes that although MIAX Emerald
rules may, in certain instances, intentionally differ from MIAX Options
rules, the proposed changes will promote uniformity with MIAX Options
with respect to rules that are intended to be identical. The Exchange
believes that it will reduce the potential for confusion by its members
that are also members of MIAX Options with respect to rules that are
intended to be identical.

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

    MIAX Emerald does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. Specifically, the Exchange
believes that, by modifying the expiration date of the Penny Pilot
Program to match the most recent expiration date, as updated by the
other options exchanges, the proposed rule change will allow for
analysis of the Penny Pilot Program and a determination of how the
Program should be structured in the future. The Exchange believes that
the proposed rule change, which harmonizes its rules with recent rule
changes adopted by MIAX Options will reduce the regulatory burden
placed on market participants engaged in trading activities across
different markets. In doing so, the proposed rule change will also
serve to promote regulatory clarity and consistency, thereby reducing
burdens on the marketplace, facilitating investor protection, and
fostering a competitive environment.

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

    Written comments were neither solicited nor received.

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

    The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A) of the Act \11\ and Rule 19b-4(f)(6) \12\ thereunder.
Because the foregoing proposed rule change does not: (i) Significantly
affect the protection of investors or the public interest; (ii) impose
any significant burden on competition; and (iii) become operative for
30 days after the date of the filing, or such shorter time as the
Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to 19(b)(3)(A) of the Act \13\ and Rule 19b-4(f)(6)
\14\ thereunder.
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    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(6).
    \13\ 15 U.S.C. 78s(b)(3)(A).
    \14\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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    A proposed rule change filed under Rule 19b-4(f)(6) \15\ normally
does not become operative prior to 30 days after the date of filing.
However, pursuant to Rule 19b-4(f)(6)(iii),\16\ the Commission may
designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing. The Commission believes
that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest because doing so will
allow the Pilot Program to continue without interruption in a manner
that is consistent with the Commission's prior approval of the
extension and expansion of the Pilot Program.\17\ Accordingly, the
Commission designates the proposed rule change as operative upon filing
with the Commission.\18\
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    \15\ 17 CFR 240.19b-4(f)(6).
    \16\ 17 CFR 240.19b-4(f)(6)(iii).
    \17\ See Securities Exchange Release No. 61061 (November 24,
2009), 74 FR 62857 (December 1, 2009) (SR-NYSEArca-2009-44).
    \18\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-EMERALD-2019-06 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-EMERALD-2019-06. 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
20549-1090, 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-EMERALD-2019-06 and should
be submitted on or before March 28, 2019.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\19\
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    \19\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-04087 Filed 3-6-19; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 87, Number 142 (Tuesday, July 26, 2022)]
[Notices]
[Pages 44378-44379]
[FR Doc No: 2022-15998]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER21-62-000.
    Applicants: Uniper Global Commodities North America LLC.
    Description: Refund Report: UGCNA Refund Report 2022.07.20 to be
effective N/A.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5069.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2429-000.
    Applicants: Entergy Nuclear Palisades, LLC.
    Description: Tariff Amendment: Entergy Nuclear Palisades, LLC, MBR
Tariff Cancellation to be effective 7/20/2022.
    Filed Date: 7/19/22.
    Accession Number: 20220719-5181.
    Comment Date: 5 p.m. ET 8/9/22.

    Docket Numbers: ER22-2430-000.
    Applicants: Entergy Nuclear Power Marketing, LLC.
    Description: Tariff Amendment: Entergy Nuclear Power Marketing,
LLC, MBR Tariff Cancellation to be effective 7/20/2022.
    Filed Date: 7/19/22.
    Accession Number: 20220719-5183.
    Comment Date: 5 p.m. ET 8/9/22.

    Docket Numbers: ER22-2431-000.
    Applicants: The United Illuminating Company.
    Description: Sec.  205(d) Rate Filing: Schedule 20A Phase I/II
HVDC-TF Service Agreements for the Resale, Reassignment to be effective
12/31/9998.
    Filed Date: 7/19/22.
    Accession Number: 20220719-5184.
    Comment Date: 5 p.m. ET 8/9/22.

    Docket Numbers: ER22-2432-000.
    Applicants: The United Illuminating Company.
    Description: Sec.  205(d) Rate Filing: Schedule 20A Phase I/II
HVDC-TF Service Agreements for the Resale, Reassignment to be effective
12/31/9998.
    Filed Date: 7/19/22.
    Accession Number: 20220719-5189.
    Comment Date: 5 p.m. ET 8/9/22.

    Docket Numbers: ER22-2433-000.
    Applicants: Central Maine Power Company.
    Description: Sec.  205(d) Rate Filing: Schedule 20A Phase I/II
HVDC-TF Service Agreements for the Resale, Reassignment to be effective
12/31/9998.

    Filed Date: 7/19/22.
    Accession Number: 20220719-5190.
    Comment Date: 5 p.m. ET 8/9/22.

    Docket Numbers: ER22-2434-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Amendment to ISA, Service
Agreement No. 6077; Queue Nos. AA1-146/AA2-030 to be effective 5/12/
2021.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5011.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2435-000.
    Applicants: Midcontinent Independent System Operator, Inc.,
American Transmission Company LLC.
    Description: Sec.  205(d) Rate Filing: Midcontinent Independent
System Operator, Inc. submits tariff filing per 35.13(a)(2)(iii: 2022-
07-20_SA 3871 ATC-Allete PSA to be effective 8/30/2022.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5021.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2436-000.
    Applicants: Midcontinent Independent System Operator, Inc., Ameren
Illinois Company.
    Description: Sec.  205(d) Rate Filing: Midcontinent Independent
System Operator, Inc. submits tariff filing per 35.13(a)(2)(iii: 2022-
07-20_SA 2880 Att A-Proj Spec No. 9-WVPA-Maroa to be effective 9/19/
2022.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5025.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2437-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Amendment to ISA, SA No.
4963; Queue No. V4-027/AC2-170 to be effective 3/12/2018.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5034.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2438-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Original NSA No. 6550; Queue
No. AD2-163 to be effective 6/20/2022.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5054.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2439-000.
    Applicants: Indiana Crossroads Wind Farm LLC.
    Description: Baseline eTariff Filing: Shared Facilities Agreement--
Meadow Lake to be effective 7/20/2022.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5055.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2440-000.
    Applicants: Alabama Power Company, Georgia Power Company, Power
Company.
    Description: Sec.  205(d) Rate Filing: Alabama Power Company
submits tariff filing per 35.13(a)(2)(iii: Aragon Energy Storage LGIA
Filing to be effective 7/20/2022.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5073.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2441-000.
    Applicants: Midcontinent Independent System Operator, Inc., Ameren
Illinois Company.
    Description: Sec.  205(d) Rate Filing: Midcontinent Independent
System Operator, Inc. submits tariff filing per 35.13(a)(2)(iii: 2022-
07-20_SA 2880 Att A- Proj Spec No. 10-WVPA-Troy Grove Viper to be
effective 9/19/2022.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5081.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2442-000.
    Applicants: Tidal Energy Marketing Inc.
    Description: Tariff Amendment: Notice of Cancellation to be
effective 7/21/2022.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5086.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2443-000.
    Applicants: Virginia Electric and Power Company, PJM
Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Virginia Electric and Power
Company submits tariff filing per 35.13(a)(2)(iii: Dominion submits
revisions to Formula Rate Template, Attachment H-16A to be effective 1/
1/2022.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5136.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2444-000.
    Applicants: ITC Midwest LLC.
    Description: Sec.  205(d) Rate Filing: Filing of Three Agreements
with Independence Light & Power Company to be effective 9/19/2022.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5140.
    Comment Date: 5 p.m. ET 8/10/22.

    Docket Numbers: ER22-2445-000.
    Applicants: PJM Interconnection, L.L.C.
    Description: Sec.  205(d) Rate Filing: Original NSA, SA No. 6537;
Queue No. B34 to be effective 6/20/2022.
    Filed Date: 7/20/22.
    Accession Number: 20220720-5143.
    Comment Date: 5 p.m. ET 8/10/22.

    The filings are accessible in the Commission's eLibrary system
(https://elibrary.ferc.gov/idmws/search/fercgensearch.asp) by querying
the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: July 20, 2022.
Debbie-Anne A. Reese,
Deputy Secretary.
[FR Doc. 2022-15998 Filed 7-25-22; 8:45 am]
BILLING CODE 6717-01-P