[Federal Register Volume 83, Number 150 (Friday, August 3, 2018)]
[Rules and Regulations]
[Pages 38016-38018]
[FR Doc No: 2018-16607]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2016-9377; Airspace Docket No. 16-AEA-8]
RIN-2120-AA66

Amendment of Class D and Class E Airspace for the Following
Pennsylvania Towns; Lancaster, PA; Reading, PA; and Williamsport, PA

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This action amends Class E airspace designated as an extension
to Class D airspace by removing the Notice to Airmen (NOTAM) part-time
status at Lancaster Airport, Lancaster, PA; Reading Regional Airport/
Carl A. Spaatz Field, Reading, PA; and Williamsport Regional Airport,
Williamsport, PA. This action also updates the geographic coordinates
of these airports and the Picture Rocks navigation aid listed in the
associated Class D and E airspace. This action enhances the safety and
airspace management of instrument flight rules (IFR) operations at the
airport. Also, this action replaces the outdated term Airport/Facility
Directory with the term Chart Supplement in the associated Class D and
E legal descriptions.

DATES: Effective 0901 UTC, November 8, 2018. The Director of the
Federal Register approves this incorporation by reference action under
title 1, Code of Federal Regulations, part 51, subject to the annual
revision of FAA Order 7400.11 and publication of conforming amendments.

ADDRESSES: FAA Order 7400.11B, Airspace Designations and Reporting
Points, and subsequent amendments can be viewed online at http://www.faa.gov/air_traffic/publications/. For further information, you can
contact the Airspace Policy Group, Federal Aviation Administration, 800
Independence Avenue SW, Washington, DC 20591; telephone: (202) 267-
8783. The Order is also available for inspection at the National
Archives and Records Administration (NARA). For information on the
availability of FAA Order 7400.11B at NARA, call<PHONE_NUMBER>, or go
to https://www.archives.gov/federal-register/cfr/ibr-locations.html.
    FAA Order 7400.11, Airspace Designations and Reporting Points, is
published yearly and effective on September 15.

FOR FURTHER INFORMATION CONTACT: John Fornito, Operations Support
Group, Eastern Service Center, Federal Aviation Administration, 1701
Columbia Avenue, College Park, GA 30337; telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Authority for This Rulemaking

    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the United States Code. Subtitle I, Section 106
describes the authority of the FAA Administrator. Subtitle VII,
Aviation Programs, describes in more detail the scope of the agency's
authority. This rulemaking is promulgated under the authority described
in Subtitle VII, Part A, Subpart I, Section 40103. Under that section,
the FAA is charged with prescribing regulations to assign the use of
airspace necessary to ensure the

safety of aircraft and the efficient use of airspace. This regulation
is within the scope of that authority as it amends controlled airspace
in the respective Class D and Class E airspace areas at Lancaster
Airport, Lancaster, PA; Reading Regional Airport/Carl A. Spaatz Field,
Reading, PA; and Williamsport Regional Airport, (formerly Williamsport-
Lycoming County Airport), Williamsport, PA, for continued safety and
management of IFR operations at these airports.

History

    The FAA published a notice of proposed rulemaking in the Federal
Register (82 FR 16955, April 7, 2017) for Docket No. FAA-2016-9377 to
amend Class D and Class E airspace at Lancaster Airport, Lancaster, PA;
Reading Regional Airport/Carl A. Spaatz Field, Reading, PA; and
Williamsport Regional Airport, Williamsport, PA.
    Interested parties were invited to participate in this rulemaking
effort by submitting written comments on the proposal to the FAA. One
comment was received supporting the proposal.
    Class D and E airspace designations are published in paragraph
5000, 6002, 6004, and 6005, respectively, of FAA Order 7400.11B dated
August 3, 2017, and effective September 15, 2017, which is incorporated
by reference in 14 CFR part 71.1. The Class D and E airspace
designations listed in this document will be published subsequently in
the Order.

Availability and Summary of Documents for Incorporation by Reference

    This document proposes to amend FAA Order 7400.11B, Airspace
Designations and Reporting Points, dated August 3, 2017, and effective
September 15, 2017. FAA Order 7400.11B is publicly available as listed
in the ADDRESSES section of this document. FAA Order 7400.11B lists
Class A, B, C, D, and E airspace areas, air traffic service routes, and
reporting points.

The Rule

    This action amends Title 14 Code of Federal Regulations (14 CFR)
part 71 by amending Class E airspace to remove the NOTAM part-time
status of the Class E airspace designated as an extension to a Class D
surface area at Lancaster Airport, Lancaster, PA; Reading Regional
Airport/Carl A. Spaatz Field, Reading, PA; and Williamsport Regional
Airport, Williamsport, PA. These changes are necessary for continued
safety and management of IFR operations at these airports. The
geographic coordinates of these airports, as well as the Picture Rocks
non-directional radio beacon (NDB) are amended in the associated Class
D and E airspace to coincide with the FAA's aeronautical database. This
action also updates the airport name to Williamsport Regional Airport
(formerly Williamsport-Lycoming County Airport).
    Additionally, an editorial change is made to the Class D and Class
E airspace legal descriptions replacing Airport/Facility Directory with
the term Chart Supplement.

Regulatory Notices and Analyses

    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current.
Therefore, this regulation: (1) Is not a ``significant regulatory
action'' under Executive Order 12866; (2) is not a ``significant rule''
under DOT Regulatory Policies and Procedures (44 FR 11034; February 26,
1979); and (3) does not warrant preparation of a regulatory evaluation
as the anticipated impact is so minimal. Since this is a routine matter
that only affects air traffic procedures and air navigation, it is
certified that this rule, when promulgated, does not have a significant
economic impact on a substantial number of small entities under the
criteria of the Regulatory Flexibility Act.

Environmental Review

    The FAA has determined that this action qualifies for categorical
exclusion under the National Environmental Policy Act in accordance
with FAA Order 1050.1F, ``Environmental Impacts: Policies and
Procedures,'' paragraph 5-6.5a. This airspace action is not expected to
cause any potentially significant environmental impacts, and no
extraordinary circumstances exist that warrant preparation of an
environmental assessment.

Lists of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

Adoption of the Amendment

    In consideration of the foregoing, the Federal Aviation
Administration amends 14 CFR part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

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

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

Sec.  71.1   [Amended]

0
2. The incorporation by reference in 14 CFR 71.1 of Federal Aviation
Administration Order 7400.11B, Airspace Designations and Reporting
Points, dated August 3, 2017, effective September 15, 2017, is amended
as follows:

Paragraph 5000 Class D Airspace.

* * * * *

AEA PA D Lancaster, PA [Amended]

Lancaster Airport, PA
    (Lat. 40[deg]07'21'' N, long. 76[deg]17'40'' W)

    That airspace extending upward from the surface to and including
2,900 feet MSL within a 4.1-mile radius of Lancaster Airport. This
Class D airspace area is effective during the specific dates and
times established in advance by a Notice to Airmen. The effective
date and time will thereafter be continuously published in the Chart
Supplement.
* * * * *

AEA PA D Reading, PA [Amended]

Reading Regional Airport/Carl A. Spaatz Field, PA
    (Lat. 40[deg]22'43'' N, long. 75[deg]57'55'' W)

    That airspace extending upward from the surface to and including
2,800 feet MSL within a 4.8-mile radius of Reading Regional/Carl A.
Spaatz Field. This Class D airspace area is effective during
specific dates and times established in advance by a Notice to
Airmen. The effective date and time will thereafter be continuously
published in the Chart Supplement.
* * * * *

AEA PA D Williamsport, PA [Amended]

Williamsport Regional Airport, PA
    (Lat. 41[deg]14'30'' N, long. 76[deg]55'19'' W)

    That airspace extending upward from the surface to and including
3,000 feet MSL within a 4.2-mile radius of Williamsport Regional
Airport. This Class D airspace area is effective during the specific
dates and times established in advance by a Notice to Airmen. The
effective date and time will thereafter be continuously published in
the Chart Supplement.

Paragraph 6002 Class E Surface Area Airspace.

* * * * *

AEA PA E2 Lancaster, PA [Amended]

Lancaster Airport, PA
    (Lat. 40[deg]07'21'' N, long. 76[deg]17'40'' W)
Lancaster VORTAC
    (Lat. 40[deg]07'12'' N, long. 76[deg]17'29'' W)

    Within a 4.1-mile radius of Lancaster Airport, and that airspace
extending upward from the surface. This Class E airspace area is
effective during the specific dates and times established in advance
by a Notice to Airmen. The effective date and time will thereafter
be continuously published in the Chart Supplement.
* * * * *

AEA PA E2 Reading, PA [Amended]

Reading Regional Airport/Carl A. Spaatz Field, PA
    (Lat. 40[deg]22'43'' N, long. 75[deg]57'55'' W)

    That airspace extending from the surface within a 4.8-mile
radius of Reading Regional/Carl A. Spaatz Field. This Class E
airspace area is effective during specific dates and times
established in advance by a Notice to Airmen. The effective date and
time will thereafter be continuously published in the Chart
Supplement.
* * * * *

AEA PA E2 Williamsport, PA [Amended]

Williamsport Regional Airport, PA
    (Lat. 41[deg]14'30'' N, long. 76[deg]55'19'' W)
Williamsport Regional Airport ILS localizer
    (Lat. 41[deg]14'17'' N, long. 76[deg]56'17'' W)

    Within a 4.2-mile radius of Williamsport Regional Airport. This
Class E airspace area is effective during the specific dates and
times established in advance by a Notice to Airmen. The effective
date and time will thereafter be continuously published in the Chart
Supplement.

Paragraph 6004 Class E Airspace Designated as an Extension to a
Class D Surface Area.

* * * * *

AEA PA E4 Lancaster, PA [Amended]

Lancaster Airport, PA
    (Lat. 40[deg]07'21'' N, long. 76[deg]17'40'' W)
Lancaster VORTAC
    (Lat. 40[deg]07'12'' N, long. 76[deg]17'29'' W)

    That airspace extending upward from the surface within 2.7 miles
each side of the Lancaster VORTAC 260[deg] radial extending from the
VORTAC to 7.4 miles west of the VORTAC, and within 2.7 miles each
side of the Lancaster VORTAC 128[deg] radial extending from the
VORTAC to 7.4 miles southeast of the VORTAC, and within 1.8 miles
each side of the Lancaster VORTAC 055[deg] radial extending from the
VORTAC to 4.4 miles northeast of the VORTAC.
* * * * *

AEA PA E4 Reading, PA [Amended]

Reading Regional Airport/Carl A. Spaatz Field, PA
    (Lat. 40[deg]22'43'' N, long. 75[deg]57'55'' W)

    That airspace extending upward from the surface within 4 miles
either side of the 172[deg] bearing from Reading Regional/Carl A.
Spaatz Field extending from the 4.8-mile radius of the airport to
10.1 miles south of the airport.
* * * * *

AEA PA E4 Williamsport, PA [Amended]

Williamsport Regional Airport, PA
    (Lat. 41[deg]14'30'' N, long. 76[deg]55'19'' W)
Williamsport Regional Airport ILS localizer
    (Lat. 41[deg]14'17'' N, long. 76[deg]56'17'' W)

    That airspace extending upward from the surface from the 4.2-
mile radius of Williamsport Regional Airport extending clockwise
from a 270[deg] bearing to the 312[deg] bearing from the airport and
within an 11.3-mile radius of the airport extending clockwise from
the 312[deg] bearing to the 350[deg] bearing from the airport and
within an 11.3-mile radius of the airport extending clockwise from
the 004[deg] bearing to the 099[deg] bearing from the airport and
within 3.5 miles south of the airport east localizer course
extending from the 4.2-mile radius of the airport east to the
099[deg] bearing from the airport.

Paragraph 6005 Class E Airspace Areas Extending Upward From 700
Feet or More Above the Surface of the Earth.

* * * * *

AEA PA E5 Reading, PA [Amended]

    Reading Regional Airport/Carl A. Spaatz Field, PA
    (Lat. 40[deg]22'43'' N, long. 75[deg]57'55'' W)

    That airspace extending upward from 700 feet above the surface
within a 10.3-mile radius of Reading Regional/Carl A. Spaatz Field.
* * * * *

AEA PA E5 Williamsport, PA [Amended]

Williamsport Regional Airport, PA
    (Lat. 41[deg]14'30'' N, long. 76[deg]55'19'' W)
Picture Rocks NDB
    (Lat. 41[deg]16'37'' N, long. 76[deg]42'36'' W)
Williamsport Hospital, Point In Space Coordinates
    (Lat. 41[deg]14'43'' N, long. 77[deg]00'04'' W)
Williamsport Regional Airport ILS localizer
    (Lat. 41[deg]14'17'' N, long. 76[deg]56'17'' W)

    That airspace extending upward from 700 feet above the surface
within a 17.9-mile radius of Williamsport Regional Airport extending
clockwise from the 025[deg] bearing to the 067[deg] bearing from the
airport, and within a 12.6-mile radius of Williamsport Regional
Airport extending clockwise from the 067[deg] bearing to a 099[deg]
bearing from the airport, and within a 6.7-mile radius of
Williamsport Regional Airport extending clockwise from the 099[deg]
bearing to the 270[deg] bearing from the airport, and within a 17.9-
mile radius of Williamsport Regional Airport extending clockwise
from the 270[deg] bearing to the 312[deg] bearing from the airport
and within a 19.6-mile radius of Williamsport Regional Airport
extending clockwise from the 312[deg] bearing to the 350[deg]
bearing from the airport and within a 6.7-mile radius of
Williamsport Regional Airport extending clockwise from the 350[deg]
bearing to the 025[deg] bearing from the airport and within 4.4
miles each side of the Williamsport Regional Airport ILS localizer
east course extending from the Picture Rocks NDB to 11.3 miles east
of the NDB; and that airspace within a 6-mile radius of the point in
space (Lat. 41[deg]14'43'' N, long. 77[deg]00'04'' W) serving
Williamsport Hospital.

    Issued in College Park, Georgia, on July 26, 2018.
Shawn Reddinger,
Acting Manager, Operations Support Group, Eastern Service Center, Air
Traffic Organization.
[FR Doc. 2018-16607 Filed 8-2-18; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register Volume 86, Number 127 (Wednesday, July 7, 2021)]
[Notices]
[Pages 35805-35806]
[FR Doc No: 2021-14473]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket Nos. FDA-2020-E-1315 and FDA-2020-E-1316]

Determination of Regulatory Review Period for Purposes of Patent
Extension; BEOVU

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

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SUMMARY: The Food and Drug Administration (FDA or the Agency) has
determined the regulatory review period for BEOVU and is publishing
this notice of that determination as required by law. FDA has made the
determination because of the submission of applications to the Director
of the U.S. Patent and Trademark Office (USPTO), Department of
Commerce, for the extension of a patent which claims that human
biological product.

DATES: Anyone with knowledge that any of the dates as published (see
SUPPLEMENTARY INFORMATION) are incorrect may submit either electronic
or written comments and ask for a redetermination by September 7, 2021.
Furthermore, any interested person may petition FDA for a determination
regarding whether the applicant for extension acted with due diligence
during the regulatory review period by January 3, 2022. See
``Petitions'' in the SUPPLEMENTARY INFORMATION section for more
information.

ADDRESSES: You may submit comments as follows. Please note that late,
untimely filed comments will not be considered. Electronic comments
must be submitted on or before September 7, 2021. The https://www.regulations.gov electronic filing system will accept comments until
11:59 p.m. Eastern Time at the end of September 7, 2021. Comments
received by mail/hand delivery/courier (for written/paper submissions)
will be considered timely if they are postmarked or the delivery
service acceptance receipt is on or before that date.

Electronic Submissions

    Submit electronic comments in the following way:
     Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. Comments submitted
electronically, including attachments, to https://www.regulations.gov
will be posted to the docket unchanged. Because your comment will be
made public, you are solely responsible for ensuring that your comment
does not include any confidential information that you or a third party
may not wish to be posted, such as medical information, your or anyone
else's Social Security number, or confidential business information,
such as a manufacturing process. Please note that if you include your
name, contact information, or other information that identifies you in
the body of your comments, that information will be posted on https://www.regulations.gov.
     If you want to submit a comment with confidential
information that you do not wish to be made available to the public,
submit the comment as a written/paper submission and in the manner
detailed (see ``Written/Paper Submissions'' and ``Instructions'').

Written/Paper Submissions

    Submit written/paper submissions as follows:
     Mail/Hand Delivery/Courier (for written/paper
submissions): Dockets Management Staff (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852.
     For written/paper comments submitted to the Dockets
Management Staff, FDA will post your comment, as well as any
attachments, except for information submitted, marked, and identified,
as confidential, if submitted as detailed in ``Instructions.''
    Instructions: All submissions received must include the Docket Nos.
FDA-2020-E-1315 and FDA-2020-E-1316, for ``Determination of Regulatory
Review Period for Purposes of Patent Extension; BEOVU.'' Received
comments, those filed in a timely manner (see ADDRESSES), will be
placed in the docket and, except for those submitted as ``Confidential
Submissions,'' publicly viewable at https://www.regulations.gov or at
the Dockets Management Staff between 9 a.m. and 4 p.m., Monday through
Friday,<PHONE_NUMBER>.
     Confidential Submissions--To submit a comment with
confidential information that you do not wish to be made publicly
available, submit your comments only as a written/paper submission. You
should submit two copies total. One copy will include the information
you claim to be confidential with a heading or cover note that states
``THIS DOCUMENT CONTAINS CONFIDENTIAL INFORMATION.'' The Agency will
review this copy, including the claimed confidential information, in
its consideration of comments. The second copy, which will have the
claimed confidential information redacted/blacked out, will be
available for public viewing and posted on https://www.regulations.gov.
Submit both copies to the Dockets Management Staff. If you do not wish
your name and contact information to be made publicly available, you
can provide this information on the cover sheet and not in the body of
your comments and you must identify this information as
``confidential.'' Any information marked as ``confidential'' will not
be disclosed except in accordance with Sec.  10.20 (21 CFR 10.20) and
other applicable disclosure law. For more information about FDA's
posting of comments to public dockets, see 80 FR 56469, September 18,
2015, or access the information at: https://www.govinfo.gov/content/pkg/FR-2015-09-18/pdf/2015-23389.pdf.
    Docket: For access to the docket to read background documents or
the electronic and written/paper comments received, go to https://www.regulations.gov and insert the docket number, found in brackets in
the heading of this document, into the ``Search'' box and follow the
prompts and/or go to the Dockets Management Staff, 5630 Fishers Lane,
Rm. 1061, Rockville, MD 20852,<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Beverly Friedman, Office of Regulatory
Policy, Food and Drug Administration, 10903 New Hampshire Ave., Bldg.
51, Rm. 6250, Silver Spring, MD 20993,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

I. Background

    The Drug Price Competition and Patent Term Restoration Act of 1984
(Pub. L. 98-417) and the Generic Animal Drug and Patent Term
Restoration Act (Pub. L. 100-670) generally provide that a patent may
be

extended for a period of up to 5 years so long as the patented item
(human drug product, animal drug product, medical device, food
additive, or color additive) was subject to regulatory review by FDA
before the item was marketed. Under these acts, a product's regulatory
review period forms the basis for determining the amount of extension
an applicant may receive.
    A regulatory review period consists of two periods of time: A
testing phase and an approval phase. For human biological products, the
testing phase begins when the exemption to permit the clinical
investigations of the biological product becomes effective and runs
until the approval phase begins. The approval phase starts with the
initial submission of an application to market the human biological
product and continues until FDA grants permission to market the
biological product. Although only a portion of a regulatory review
period may count toward the actual amount of extension that the
Director of USPTO may award (for example, half the testing phase must
be subtracted as well as any time that may have occurred before the
patent was issued), FDA's determination of the length of a regulatory
review period for a human biological product will include all of the
testing phase and approval phase as specified in 35 U.S.C.
156(g)(1)(B).
    FDA has approved for marketing the human biologic product BEOVU
(brolucizumab-dbll). BEOVU is indicated for the treatment of
neovascular (wet) age-related macular degeneration. Subsequent to this
approval, the USPTO received patent term restoration applications for
BEOVU (U.S. Patent Nos. 8,349,322 and 9,090,684) from Novartis AG, and
the USPTO requested FDA's assistance in determining the patents'
eligibility for patent term restoration. In a letter dated July 20,
2020, FDA advised the USPTO that this human biological product had
undergone a regulatory review period and that the approval of BEOVU
represented the first permitted commercial marketing or use of the
product. Thereafter, the USPTO requested that FDA determine the
product's regulatory review period.

II. Determination of Regulatory Review Period

    FDA has determined that the applicable regulatory review period for
BEOVU is 3,064 days. Of this time, 2,821 days occurred during the
testing phase of the regulatory review period, while 243 days occurred
during the approval phase. These periods of time were derived from the
following dates:
    1. The date an exemption under section 505(i) of the Federal Food,
Drug, and Cosmetic Act (21 U.S.C. 355(i)) became effective: May 20,
2011. FDA has verified the applicant's claims that the date the
investigational new drug application became effective was on May 20,
2011.
    2. The date the application was initially submitted with respect to
the human biological product under section 351 of the Public Health
Service Act (42 U.S.C. 262): February 7, 2019. FDA has verified the
applicant's claim that the biologics license application (BLA) for
BEOVU (BLA 761125) was initially submitted on February 7, 2019.
    3. The date the application was approved: October 7, 2019. FDA has
verified the applicant's claims that BLA 761125 was approved on October
7, 2019.
    This determination of the regulatory review period establishes the
maximum potential length of a patent extension. However, the USPTO
applies several statutory limitations in its calculations of the actual
period for patent extension. In its applications for patent extension,
this applicant seeks 888 or 1,354 days of patent term extension.

III. Petitions

    Anyone with knowledge that any of the dates as published are
incorrect may submit either electronic or written comments and, under
21 CFR 60.24, ask for a redetermination (see DATES). Furthermore, as
specified in Sec.  60.30 (21 CFR 60.30), any interested person may
petition FDA for a determination regarding whether the applicant for
extension acted with due diligence during the regulatory review period.
To meet its burden, the petition must comply with all the requirements
of Sec.  60.30, including but not limited to: must be timely (see
DATES), must be filed in accordance with Sec.  10.20, must contain
sufficient facts to merit an FDA investigation, and must certify that a
true and complete copy of the petition has been served upon the patent
applicant. (See H. Rept. 857, part 1, 98th Cong., 2d sess., pp. 41-42,
1984.) Petitions should be in the format specified in 21 CFR 10.30.
    Submit petitions electronically to https://www.regulations.gov at
Docket No. FDA-2013-S-0610. Submit written petitions (two copies are
required) to the Dockets Management Staff (HFA-305), Food and Drug
Administration, 5630 Fishers Lane, Rm. 1061, Rockville, MD 20852.

    Dated: June 28, 2021.
Lauren K. Roth,
Acting Principal Associate Commissioner for Policy.
[FR Doc. 2021-14473 Filed 7-6-21; 8:45 am]
BILLING CODE 4164-01-P


[Federal Register: December 28, 2007 (Volume 72, Number 248)]
[Notices]
[Page 73807-73809]
[DOCID:fr28de07-87]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPP-2004-0369; FRL-8343-3]

Chloroneb; Notice of Receipt of Requests to Voluntarily Terminate
Certain Uses of Pesticide Registrations

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: In accordance with section 6(f)(1) of the Federal Insecticide,
Fungicide, and Rodenticide Act (FIFRA), as amended, EPA is issuing a
notice of receipt of requests by the registrants to voluntarily
terminate certain uses of its products containing the pesticide
chloroneb. The requests would terminate chloroneb's use on residential
lawns and turf, as well as on lawns and turf at parks and schools. The
requests would not terminate the last chloroneb products registered for
use in the United States. EPA intends to grant these requests at the
close of the comment period for this announcement unless the Agency
receives substantive comments within the comment period that would
merit its further review of the requests, or unless the registrants
withdraw their requests within this period. Upon acceptance of these
requests, any sale, distribution, or use of products listed in this
notice will be permitted only if such sale, distribution, or use is
consistent with the terms as described in the final order.

DATES: Comments must be received on or before January 28, 2008.

ADDRESSES: Submit your comments, identified by docket identification
(ID)

number EPA-HQ-OPP-2004-0369, by one of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov.

Follow the on-line instructions for submitting comments.
     Mail: Office of Pesticide Programs (OPP) Regulatory Public
Docket (7502P), Environmental Protection Agency, 1200 Pennsylvania
Ave., NW., Washington, DC 20460-0001.
     Delivery: OPP Regulatory Public Docket (7502P),
Environmental Protection Agency, Rm. S-4400, One Potomac Yard (South
Bldg.), 2777 S. Crystal Dr., Arlington, VA. Deliveries are only
accepted during the Docket's normal hours of operation (8:30 a.m. to 4
p.m., Monday through Friday, excluding legal holidays). Special
arrangements should be made for deliveries of boxed information. The
Docket Facility telephone number is<PHONE_NUMBER>.
    Instructions: Direct your comments to docket ID number EPA-HQ-OPP-
2004-0369. EPA's policy is that all comments received will be included
in the docket without change and may be made available on-line at
http://www.regulations.gov, including any personal information

provided, unless the comment includes information claimed to be
Confidential Business Information (CBI) or other information whose
disclosure is restricted by statute. Do not submit information that you
consider to be CBI or otherwise protected through regulations.gov or e-
mail. The regulations.gov website is an ``anonymous access'' system,
which means EPA will not know your identity or contact information
unless you provide it in the body of your comment. If you send an e-
mail comment directly to EPA without going through regulations.gov,
your e-mail address will be automatically captured and included as part
of the comment that is placed in the docket and made available on the
Internet. If you submit an electronic comment, EPA recommends that you
include your name and other contact information in the body of your
comment and with any disk or CD-ROM you submit. If EPA cannot read your
comment due to technical difficulties and cannot contact you for
clarification, EPA may not be able to consider your comment. Electronic
files should avoid the use of special characters, any form of
encryption, and be free of any defects or viruses.
    Docket: All documents in the docket are listed in the docket index
available in regulations.gov. To access the electronic docket, go to
http://www.regulations.gov, select ``Advanced Search,'' then ``Docket

Search.'' Insert the docket ID number where indicated and select the
``Submit'' button. Follow the instructions on the regulations.gov
website to view the docket index or access available documents.
Although listed in the index, some information is not publicly
available, e.g., CBI or other information whose disclosure is
restricted by statute. Certain other material, such as copyrighted
material, is not placed on the Internet and will be publicly available
only in hard copy form. Publicly available docket materials are
available either in the electronic docket at http://www.regulations.gov
, or, if only available in hard copy, at the OPP

Regulatory Public Docket in Rm. S-4400, One Potomac Yard (South Bldg.),
2777 S. Crystal Dr., Arlington, VA. The hours of operation of this
Docket Facility are from 8:30 a.m. to 4 p.m., Monday through Friday,
excluding legal holidays. The Docket Facility telephone number is (703)
305-5805.

FOR FURTHER INFORMATION CONTACT: Wilhelmena Livingston, Special Review
and Reregistration Division (7508P), Office of Pesticide Programs,
Environmental Protection Agency, 1200 Pennsylvania Ave., NW.,
Washington, DC 20460-0001; telephone number:<PHONE_NUMBER>; fax
number:<PHONE_NUMBER>; e-mail address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. General Information

A. Does this Action Apply to Me?

    This action is directed to the public in general, and may be of
interest to a wide range of stakeholders including environmental, human
health, and agricultural advocates; the chemical industry; pesticide
users; and members of the public interested in the sale, distribution,
or use of pesticides. Since others also may be interested, the Agency
has not attempted to describe all the specific entities that may be
affected by this action. If you have any questions regarding the
applicability of this action to a particular entity, consult the person
listed under FOR FURTHER INFORMATION CONTACT.

B. What Should I Consider as I Prepare My Comments for EPA?

     1. Submitting CBI. Do not submit this information to EPA through
regulations.gov or e-mail. Clearly mark the part or all of the
information that you claim to be CBI. For CBI information in a disk or
CD-ROM that you mail to EPA, mark the outside of the disk or CD-ROM as
CBI and then identify electronically within the disk or CD-ROM the
specific information that is claimed as CBI. In addition to one
complete version of the comment that includes information claimed as
CBI, a copy of the comment that does not contain the information
claimed as CBI must be submitted for inclusion in the public docket.
Information so marked will not be disclosed except in accordance with
procedures set forth in 40 CFR part 2.
    2. Tips for preparing your comments. When submitting comments,
remember to:
    i. Identify the document by docket ID number and other identifying
information (subject heading, Federal Register date and page number).
     ii. Follow directions. The Agency may ask you to respond to
specific questions or organize comments by referencing a Code of
Federal Regulations (CFR) part or section number.
    iii. Explain why you agree or disagree; suggest alternatives and
substitute language for your requested changes.
    iv. Describe any assumptions and provide any technical information
and/or data that you used.
    v. If you estimate potential costs or burdens, explain how you
arrived at your estimate in sufficient detail to allow for it to be
reproduced.
    vi. Provide specific examples to illustrate your concerns and
suggest alternatives.
    vii. Explain your views as clearly as possible, avoiding the use of
profanity or personal threats.
    viii. Make sure to submit your comments by the comment period
deadline identified.

II. Background on the Receipt of Requests to Amend Registrations to
Delete Uses

    This notice announces receipt by EPA of requests from registrants,
The Andersons Lawn and Fertilizer Division, Inc., and PBI/Gordon
Corporation to terminate certain uses of three chloroneb product
registrations. Chloroneb is a fungicide currently registered for use on
commercial turf (golf course tees, greens, collars, aprons, and spot
treatment on fairways, as well as athletic fields used only by
professional athletes), and ornamentals. In letters dated January 19,
2007, and January 3, 2007, The Andersons Lawn and Fertilizer Division,
Inc., and PBI/Gordon Corporation requested EPA to terminate certain
uses of pesticide product registrations identified in Table 1 of Unit
III. Specifically, the registrants' requests to revise their labels to
reflect the cancellation order published in the Federal Register issue
of August 16, 2006 (71 FR 47213) (FRL-8083-2), as requested by the
technical registrant, Kincaid Inc., and accepted by the

Agency to terminate the use of chloroneb on residential lawns and turf,
as well as on lawns and turf of parks and schools. The action on the
registrants' requests will not terminate the last chloroneb products
registered in the United States.

III. What Action is the Agency Taking?

    This notice announces receipt by EPA of requests from registrants
to terminate certain uses of chloroneb product registrations. The
affected products and the registrants making the requests are
identified in Tables 1 and 2 of this unit.
    Under section 6(f)(1)(A) of FIFRA, registrants may request, at any
time, that their pesticide registrations be canceled or amended to
terminate one or more pesticide uses. Section 6(f)(1)(B) of FIFRA
requires that before acting on a request for voluntary cancellation,
EPA must provide a 30-day public comment period on the request for
voluntary cancellation or use termination. In addition, section
6(f)(1)(C) of FIFRA requires that EPA provide a 180-day comment period
on a request for voluntary cancellation or termination of any minor
agricultural use before granting the request, unless:
    1. The registrants request a waiver of the comment period, or
    2. The Administrator determines that continued use of the pesticide
would pose an unreasonable adverse effect on the environment.
    The chloroneb registrants have requested that EPA waive the 180-day
comment period. EPA will provide a 30-day comment period on the
proposed requests.
    Unless a request is withdrawn by the registrant within 30 days of
publication of this notice, or if the Agency determines that there are
substantive comments that warrant further review of this request, an
order will be issued terminating the affected registrations.

   Table 1.--Chloroneb Product Registrations with Pending Requests for
                       Termination of Certain Uses
------------------------------------------------------------------------
       Registration Number           Product Name           Company
------------------------------------------------------------------------
2217-692                          Teremec SP Turf     PBI/Gordon
                                   Fungicide           Corporation
------------------------------------------------------------------------
9198-182                          Proturf Fungicide   The Andersons Lawn
                                   II                  Fertilizer
                                                       Division, Inc.
------------------------------------------------------------------------
9198-204                          9198-182            The Andersons Lawn
                                                       Fertilizer
                                                       Division, Inc.
------------------------------------------------------------------------

    Table 2 of this unit includes the names and addresses of record for
the registrants of the products listed in Table 1 of this unit.

 Table 2.--Registrants Requesting Voluntary Termination of Certain Uses
------------------------------------------------------------------------
            EPA Company Number                Company Name and Address
------------------------------------------------------------------------
2217                                        PBI/Gordon Corporation
                                            1217 West 12\th\ St.
                                            P.O. Box 014090
                                            Kansas City, Missouri 64101-
                                             0090
------------------------------------------------------------------------
9198                                        The Andersons Lawn
                                             Fertilizer Division, Inc.
                                            P.O. Box 119
                                            Maumee, Ohio 43537
------------------------------------------------------------------------

IV. What is the Agency's Authority for Taking this Action?

    Section 6(f)(1) of FIFRA provides that a registrant of a pesticide
product may at any time request that any of its pesticide registrations
be canceled or amended to terminate one or more uses. FIFRA further
provides that, before acting on the request, EPA must publish a notice
of receipt of any such request in the Federal Register. Thereafter,
following the public comment period, the Administrator may approve such
a request.

V. Procedures for Withdrawal of Request and Considerations for
Reregistration of Chloroneb

    Registrants who choose to withdraw a request for cancellation must
submit such withdrawal in writing to the person listed under FOR
FURTHER INFORMATION CONTACT, postmarked before January 28, 2008. This
written withdrawal of the request for cancellation will apply only to
the applicable FIFRA section 6(f)(1) request listed in this notice. If
the products have been subject to a previous cancellation action, the
effective date of cancellation and all other provisions of any earlier
cancellation action are controlling.

VI. Provisions for Disposition of Existing Stocks

    Existing stocks are those stocks of registered pesticide products
which are currently in the United States and which were packaged,
labeled, and released for shipment prior to the effective date of the
termination action.
    In any order issued in response to these requests for termination
of certain uses of a product registration, the Agency proposes to
include the following provisions for the treatment of any existing
stocks of the products identified or referenced in Table 2 of Unit
III.: Registrants may sell and distribute existing stocks for 1 year
from the date of the use termination request. The product may be sold,
distributed, and used by people other than the registrant until
existing stocks have been exhausted, provided that such sale,
distribution, and use complies with the EPA-approved label and labeling
of the product.
    If the request for voluntary use termination is granted, the Agency
intends to publish the cancellation order in the Federal Register.

List of Subjects

    Environmental protection, Pesticides and pests.

    Dated: December 13, 2007.
Steve Bradbury,
Director, Special Review and Reregistration Division, Office of
Pesticide Programs.
[FR Doc. E7-25101 Filed 12-27-07; 8:45 am]

BILLING CODE 6560-50-S


[Federal Register Volume 86, Number 221 (Friday, November 19, 2021)]
[Rules and Regulations]
[Pages 64815-64817]
[FR Doc No: 2021-25213]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2021-0687; Project Identifier 2019-SW-029-AD; Amendment
39-21782; AD 2021-22-09]
RIN 2120-AA64

Airworthiness Directives; Leonardo S.p.a. Helicopters

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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

SUMMARY: The FAA is adopting a new airworthiness directive (AD) for
certain Leonardo S.p.a. Model AW189 helicopters. This AD was prompted
by a report that a number of fairleads that support the engine
combustion chamber D1 drain hose showed evidence of heat damage. This
AD requires modifying the helicopter by installing a certain engine
combustion chamber D1 drain assembly, as specified in a European Union
Aviation Safety Agency (EASA) AD, which is incorporated by reference.
The FAA is issuing this AD to address the unsafe condition on these
products.

DATES: This AD is effective December 27, 2021.
    The Director of the Federal Register approved the incorporation by
reference of a certain publication listed in this AD as of December 27,
2021.

ADDRESSES: For material incorporated by reference (IBR) in this AD,
contact the EASA, Konrad-Adenauer-Ufer 3, 50668 Cologne, Germany;
telephone +49 221 8999 000; email [email protected]; internet
www.easa.europa.eu. You may find this material on the EASA website at
https://ad.easa.europa.eu. You may view this material at the FAA,
Office of the Regional Counsel, Southwest Region, 10101 Hillwood Pkwy.,
Room 6N-321, Fort Worth, TX 76177. For information on the availability
of this material at the FAA, call<PHONE_NUMBER>. It is also available in
the AD docket on the internet at https://www.regulations.gov by
searching for and locating Docket No. FAA-2021-0687.

Examining the AD Docket

    You may examine the AD docket on the internet at https://www.regulations.gov by searching for and locating Docket No. FAA-2021-
0687; 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, 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.

FOR FURTHER INFORMATION CONTACT: Jacob Fitch, Aerospace Engineer, COS
Program Management Section, Operational Safety Branch, Compliance &
Airworthiness Division, FAA, 10101 Hillwood Pkwy., Fort Worth, TX
76177; telephone<PHONE_NUMBER>; email [email protected].

SUPPLEMENTARY INFORMATION:

Background

    The EASA, which is the Technical Agent for the Member States of the
European Union, has issued EASA AD 2019-0039, dated February 20, 2019
(EASA AD 2019-0039) (also referred to as the Mandatory Continuing
Airworthiness Information, or the MCAI), to correct an unsafe condition
for certain Leonardo S.p.A. Model AW189 helicopters.
    The FAA issued a notice of proposed rulemaking (NPRM) to amend 14
CFR part 39 by adding an AD that would apply to certain Leonardo S.p.a.
Model AW189 helicopters. The NPRM published in the Federal Register on
August 23, 2021 (86 FR 47033). The

NPRM was prompted by a report that a number of fairleads that support
the engine combustion chamber D1 drain hose showed evidence of heat
damage. The NPRM proposed to require modifying the helicopter by
installing a certain engine combustion chamber D1 drain assembly, as
specified in an EASA AD.
    The FAA is issuing this AD to address heat damage of the engine
combustion chamber D1 drain hose, which in a case where the right-hand
engine is operated in the one engine inoperative (OEI) rating, the D1
drain pipe could transfer so much heat to the nearby fuel system vent
pipe that its internal surface temperature could exceed the auto-
ignition temperature for fuel. The unsafe condition, if not addressed,
could result in undetected fire ignition in the fuel tank bay with
consequent loss of the helicopter. See the MCAI for additional
background information.

Comments

    The FAA gave the public the opportunity to participate in
developing this final rule. The FAA received no comments on the NPRM or
on the determination of the cost to the public.

Conclusion

    The FAA reviewed the relevant data and determined that air safety
and the public interest require adopting this final rule as proposed,
except for minor editorial changes. The FAA has determined that these
minor changes:
     Are consistent with the intent that was proposed in the
NPRM for addressing the unsafe condition; and
     Do not add any additional burden upon the public than was
already proposed in the NPRM.

Related Service Information Under 1 CFR Part 51

    EASA AD 2019-0039 requires modifying the helicopter by installing
the engine combustion chamber D1 drain assembly, part number
8G7170P00111.
    This material is reasonably available because the interested
parties have access to it through their normal course of business or by
the means identified in the ADDRESSES section.

Costs of Compliance

    The FAA estimates that this AD affects 4 helicopters 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
----------------------------------------------------------------------------------------------------------------
Modification..........................  4 work-hours x $85 per            $2,557          $2,897         $11,588
                                         hour = $340.
----------------------------------------------------------------------------------------------------------------

    The FAA has included all known costs in its cost estimate.
According to the manufacturer, however, some or all of the costs of
this AD may be covered under warranty, thereby reducing the cost impact
on affected operators.

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:
2021-22-09 Leonardo S.p.a.: Amendment 39-21782; Docket No. FAA-2021-
0687; Project Identifier 2019-SW-029-AD.

(a) Effective Date

    This airworthiness directive (AD) is effective December 27,
2021.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to Leonardo S.p.a. Model AW189 helicopters,
certificated in any category, as identified in European Union
Aviation Safety Agency (EASA) AD 2019-0039, dated February 20, 2019
(EASA AD 2019-0039).

(d) Subject

    Joint Aircraft Service Component (JASC) Code: 7170, Engine
Drains.

 (e) Unsafe Condition

    This AD was prompted by a report that a number of fairleads that
support the engine combustion chamber D1 drain hose showed evidence
of heat damage. The FAA is issuing this AD to address such heat
damage, which in a case where the right-hand engine is operated in
the one engine inoperative (OEI) rating, the D1 drain pipe could
transfer so much heat to the nearby fuel system vent pipe that its
internal surface temperature could exceed the auto-ignition
temperature for fuel. The unsafe condition, if not addressed, could
result in undetected fire ignition in the fuel tank bay with
consequent loss of the helicopter.

(f) Compliance

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

(g) Requirements

    Except as specified in paragraph (h) of this AD: Comply with all
required actions and compliance times specified in, and in
accordance with, EASA AD 2019-0039.

(h) Exceptions to EASA AD 2019-0039

    (1) Where EASA AD 2019-0039 requires compliance in terms of
flight hours, this AD requires using hours time-in-service.
    (2) Where EASA AD 2019-0039 refers to its effective date, this
AD requires using the effective date of this AD.
    (3) Where the service information required by EASA AD 2019-0039
specifies discarding parts, this AD requires removing those parts
from service.
    (4) This AD does not require the ``Remarks'' section of EASA AD
2019-0039.

(i) No Reporting Requirement

    Although the service information referenced in EASA AD 2019-0039
specifies to submit certain information to the manufacturer, this AD
does not include that requirement.

(j) Special Flight Permit

    Special flight permits may be issued in accordance with 14 CFR
21.197 and 21.199 to operate the airplane to a location where the
helicopter can be modified, provided the OEI rating is prohibited on
the right-hand engine.

(k) Alternative Methods of Compliance (AMOCs)

    (1) The Manager, International Validation Branch, FAA, has the
authority to approve AMOCs for this AD, if requested using the
procedures found in 14 CFR 39.19. In accordance with 14 CFR 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 International Validation Branch, send
it to the attention of the person identified in paragraph (l) of
this AD. Information may be emailed to: [email protected].
    (2) 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.

(l) Related Information

    For more information about this AD, contact Jacob Fitch,
Aerospace Engineer, COS Program Management Section, Operational
Safety Branch, Compliance & Airworthiness Division, FAA, 10101
Hillwood Pkwy., Fort Worth, TX 76177; telephone<PHONE_NUMBER>;
email [email protected].

(m) Material Incorporated by Reference

    (1) The Director of the Federal Register approved the
incorporation by reference (IBR) 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 this AD specifies otherwise.
    (i) European Union Aviation Safety Agency (EASA) AD 2019-0039,
dated February 20, 2019.
    (ii) [Reserved]
    (3) For EASA AD 2019-0039, contact the EASA, Konrad-Adenauer-
Ufer 3, 50668 Cologne, Germany; telephone +49 221 8999 000; email
[email protected]; internet www.easa.europa.eu. You may find this
EASA AD on the EASA website at https://ad.easa.europa.eu.
    (4) You may view this service information at the FAA, Office of
the Regional Counsel, Southwest Region, 10101 Hillwood Pkwy., Room
6N-321, Fort Worth, TX 76177. For information on the availability of
this material at the FAA, call<PHONE_NUMBER>. This material may be
found in the AD docket on the internet at https://www.regulations.gov by searching for and locating Docket No. FAA-
2021-0687.
    (5) You may view this material 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 https://www.archives.gov/federal-register/cfr/ibr-locations.html.

    Issued on October 14, 2021.
Lance T. Gant,
Director, Compliance & Airworthiness Division, Aircraft Certification
Service.
[FR Doc. 2021-25213 Filed 11-18-21; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 88, Number 7 (Wednesday, January 11, 2023)]
[Notices]
[Pages 1616-1621]
[FR Doc No: 2023-00320]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-96601; File No. SR-NASDAQ-2022-077]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Filing of Proposed Rule Change To Amend Rule 4702 To
Establish New ``Contra Midpoint Only'' and ``Contra Midpoint Only With
Post-Only'' Order Types

January 5, 2023
    Pursuant to 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 December 22, 2022, The Nasdaq Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``Commission'') the 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.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to amend Rule 4702 to establish new ``Contra
Midpoint Only'' and ``Contra Midpoint Only with Post-Only'' Order
Types.
    The text of the proposed rule change is available on the Exchange's
website at https://listingcenter.nasdaq.com/rulebook/nasdaq/rules, 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 aspects of such
statements.

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

1. Purpose
    The Exchange proposes to amend Rule 4702(b) to establish ``Contra
Midpoint Only'' or ``CMO'' and ``Contra Midpoint Only with Post-Only''
or ``CMO+PO'' as new Order Types on the Exchange.
    A CMO is a non-displayed Order Type priced at the midpoint between
the National Best Bid and the National Best Offer (the ``NBBO'' and the
midpoint of the NBBO, the ``Midpoint''). The Exchange will cancel a CMO
resting on the Order Book upon entry of certain types of incoming
Orders that are indicative of pending price movements that would be
less favorable to the CMO user than the prevailing price, thus
providing protection to the CMO user against executions at the
prevailing Midpoint price that the user may deem unfavorable. As
explained below, once the System cancels a CMO under these
circumstances, the user would be free to submit a new CMO at the new
Midpoint price or, in certain cases, the Exchange would do so
automatically on behalf of the user.
    A CMO+PO is similar to a CMO, except that it provides for ``post-
only'' functionality, meaning that like a Midpoint Peg Post-Only
Order,\3\ a CMO+PO will execute upon entry only in circumstances where
economically beneficial to the party entering the Order.
---------------------------------------------------------------------------

    \3\ See Rule 4702(b)(5).
---------------------------------------------------------------------------

    The CMO and CMO+PO are the latest in a series of innovative Order
Types that the Exchange has developed to provide market participants
with options that allow them to make their own determinations with
regards to various trade-offs that exist when executing their
strategies in the markets. One such trade off might be the amount of
liquidity they can obtain in the near term versus the potential for
market movement relative to the Midpoint price. Some participants may
value avoiding immediate executions in order to wait for a better price
while others would rather obtain the liquidity instead of waiting.
Further, these options allow similarly-minded market participants to
interact via these Order Types. In 2018, for example, Nasdaq introduced
the Midpoint Extended Life Order (``M-ELO'').\4\ Like CMO, M-ELO is
also a non-displayed Order Type that executes only at the Midpoint. It
is eligible to execute only against other M-ELOs, and it protects users
from interacting with time-sensitive orders by requiring them to wait a
period of time (a ``Holding Period'') before their M-ELO is eligible to
execute (originally one-half second, and subsequently reduced to 10
milliseconds). \5\ In 2019, the Exchange enhanced the M-ELO concept by
adding the Midpoint Extended Life Order Plus Continuous Book (``M-
ELO+CB'').\6\ A M-ELO+CB behaves exactly like a M-ELO, except that it
may also interact with Midpoint Orders on the Exchange's Continuous
Book (and thus have access to larger sources of liquidity) to the
extent that such Midpoint Orders, in turn, opt to rest on the
Continuous Book for at least 10 milliseconds before becoming eligible
to execute against a M-ELO+CB. CMO and CMO+PO are the latest variations
on the M-ELO/M-ELO+CB theme. M-ELOs only trade against other Orders
from like-minded participants that are willing to wait the required
time period before trading. CMOs and CMO+POs, by contrast, can trade in
a wider array of situations, but like M-ELO, they will not trade in
instances where the incoming order is likely to impact the prevailing
price of the security. \7\ This will provide users of CMOs and CMO+POs
with opportunities for more liquidity interaction than M-ELO but with
slightly less protection. On the other hand, CMOs and CMO+POs will
provide more protection to users than regular Midpoint Orders, but with
less opportunity to interact with liquidity. Instead of imposing a
waiting period, the Exchange will cancel a resting CMO when it faces
incoming orders that are likely to shift the Midpoint, while also
providing an opportunity to a participant to receive price improvement
if or when the participant resubmits its CMO or CMO+PO to take
advantage of a shift in the Midpoint.
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 34-82825 (Mar. 7,
2018), 83 FR 10937 (Mar. 13, 2018) (order approving SR-NASDAQ-2017-
074).
    \5\ In 2020, the Commission issued an order approving the
Exchange's proposal to shorten the Holding Period for M-ELO and M-
ELO+CB Orders from one-half second to 10 milliseconds. See
Securities Exchange Act Release No. 34-88743 (April 24, 2020), 85 FR
24068 (April 30, 2020) (order approving SR-NASDAQ-2020-011).
    \6\ See Securities Exchange Act Release No. 34-86938 (September
11, 2019), 84 FR 48978 (September 17, 2019) (order approving SR-
NASDAQ-2019-048).
    \7\ As part of its proposal, the Exchange proposes to amend Rule
4702(b)(15) to state that a M-ELO+CB that satisfies the Holding
Period of that Order Type shall be eligible to execute (at the
midpoint of the NBBO) against other eligible Contra Midpoint Only
Orders and Contra Midpoint Only with Post-Only Orders.
---------------------------------------------------------------------------

    The specific proposed characteristics of the CMO are as follows.
    A CMO is a non-displayed Order Type with the Midpoint Pegging
Attribute that will be priced and ranked in time order at the Midpoint.
A user may cancel a CMO at any time.
    The System will cancel a CMO Order automatically if a CMO is
resting at the Midpoint on the Exchange Book, an incoming Order is
priced through the price of the CMO, the CMO would otherwise trade
against the incoming Order,\8\ and one or more of the following
conditions apply, which the Exchange observes are indicative of a
pending price shift in favor of the CMO user:
---------------------------------------------------------------------------

    \8\ For example, if the incoming Order is filled fully by
resting interest with price/time priority ahead of the resting CMO
Order, then the CMO order will not be cancelled by the System.
---------------------------------------------------------------------------

     The incoming Order is Displayed and its size is greater
than that of the resting CMO;

     The incoming Order is not Displayed, it is priced at the
far side of the NBBO, and its size is greater than that of the resting
CMO; or
     The incoming Order is assigned the ISO attribute.
    Again, in these instances, the Exchange observes that the incoming
Order will likely cause the NBBO to shift, such that cancellation of
the CMO will be preferable to allowing the CMO to execute at a Midpoint
price that may be stale. The user may then choose to resubmit the CMO
manually to take advantage of the price shift, in the case of a CMO
with a price that the Exchange fixes at the Midpoint that prevails at
the time of entry (a ``Fixed'' CMO, discussed below). In the case of a
CMO entered as a Peg Managed Order in accordance with Rule 4703(d), and
which has a price that the System updates in accordance with post-entry
shifts in the Midpoint (a ``Managed'' CMO, also discussed below), the
System will automatically re-submit a new CMO on behalf of the user
after cancelling the original CMO.
    Additionally, because a CMO inherently possesses the Midpoint
Pegging Attribute, it will behave in accordance with Rule 4703(d),
which governs Orders with Midpoint Pegging.\9\ Thus, consistent with
Rule 4703(d), the following behavior applies to CMOs:
---------------------------------------------------------------------------

    \9\ In part, this proposal references Rule text that the
Exchange amended in a recent filing with the Commission but which
the Exchange has yet to implement. See Securities Exchange Act
Release No. 34-95768 (September 14, 2022), 87 FR 57534 (September
20, 2022) (SR-NASDAQ-2022-051); Securities Exchange Act Release No.
34-96341 (November 17, 2022), 87 FR 71712 (November 23, 2022)
(delaying implementation of SR-NASDAQ-2022-051). To the extent that
the Commission approves the proposal for adoption of the CMO and
CMO+PO prior to implementation of SR-NASDAQ 2022-051, the Exchange
may act to implement those features of the CMO and CMO+PO that do
not require the availability of the Rule text amendments set forth
in SR-NASDAQ-2022-051 to operate--namely, those features applicable
to a Fixed CMO and Fixed CMO+PO. The Exchange will specify in an ETA
exactly which features of the CMO and CMO+PO will be available to
participants as of the initial implementation date and which of them
will be available only as of the date of implementation of SR-
NASDAQ-2022-051. A present, the Exchange expects that SR-NASDAQ-
2022-051 will be ready for full implementation in the second or
third quarter of 2023, although that time frame is subject to
change.
---------------------------------------------------------------------------

     A CMO user may only enter a CMO Order during Market Hours.
     A CMO user may specify that a CMO peg to the Midpoint in
one of two ways, either with fixed pegging (a'' Fixed CMO'') or with
managed pegging (a ``Managed CMO'').
     For a Fixed CMO, the System will fix the price of the CMO
at the Midpoint prevailing at the time of Order entry. After posting to
the Exchange Book, the price of a Fixed CMO will not thereafter be
adjusted based on changes to the Inside Bid or Offer. However, the
System will cancel a Fixed CMO after initial entry and posting to the
Exchange Book if any of following conditions are met (in addition to
those cancellation conditions that will apply specifically to CMOs in
the proposed rule): (i) there is no Inside Bid and/or Inside Offer;
(ii) the Fixed CMO to buy (sell) is entered with a limit price above
(below) the Midpoint and is ranked at the Midpoint, and thereafter, the
Inside Bid and/or Inside Offer change so that the Midpoint changes and
the Fixed CMO is no longer at the Midpoint); (iii) the Fixed CMO to buy
(sell) is entered at a limit price that is equal to or less than
(greater than) the Midpoint and is ranked at its limit price;
thereafter, the Inside Bid and/or Inside Offer change so that the
Midpoint is lower (higher) than the limit price of the Fixed CMO; (iv)
the Fixed CMO to buy (sell) is entered at a limit price that is equal
to or less than (greater than) the Midpoint and is ranked at its limit
price, and thereafter, the Inside Bid and Inside Offer become crossed,
such that the Midpoint of the crossed Quotation remains equal to or
higher (lower) than the limit price of the Fixed CMO, and then a new
sell (buy) Order is received at a price that locks or crosses the limit
price of the resting Fixed CMO; or (v) the Fixed CMO to buy (sell) is
entered at a limit price that is greater than (less than) the Midpoint
and is therefore ranked at the Midpoint, and thereafter, the Inside Bid
and Inside Offer become crossed but the Midpoint does not change, and
then a new sell (buy) Order is received at a price that locks or
crosses the Midpoint of the Inside Bid and Inside Offer.\10\
---------------------------------------------------------------------------

    \10\ A user may enter a Fixed CMO using OUCH or FLITE. See Rule
4703(d).
---------------------------------------------------------------------------

     A Managed CMO \11\ will have its price set upon initial
entry and will thereafter have its price reset in accordance with
changes to the relevant Inside Quotation. A Managed CMO will receive a
new timestamp whenever its price is updated and therefore will be
evaluated with respect to possible execution (and routing, if it has
been assigned a Routing Order Attribute) in the same manner as a newly
entered Order. If the price to which a Managed CMO is pegged becomes
unavailable, pegging would lead to a price at which the Managed CMO
cannot be posted, or if the Inside Bid and Inside Offer become crossed,
then the System will cancel the Managed CMO back to the participant if
assigned a Routing Order Attribute. If Managed CMO is not assigned a
Routing Order Attribute, and the price to which it is pegged becomes
unavailable, pegging would lead to a price at which the Managed CMO
cannot be posted, or if the Inside Bid and Inside Offer become crossed,
them the Managed CMO will be removed from the Exchange Book and will be
re-entered once there is a permissible price, provided however, that
the System will cancel the Managed CMO if no permissible pegging price
becomes available within one second after the Managed CMO was removed
and no longer available on the Exchange Book (the Exchange may, in the
exercise of its discretion modify the length of this one second time
period by posting advance notice of the applicable time period on its
website).\12\
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    \11\ The features of Managed CMOs and Managed CMO+POs cross-
reference a version of Rule 4703(d) that is set forth in SR-NASDAQ-
2022-051 and not yet implemented. Thus, Managed CMOs and Managed
CMO+POs will not be available for use prior to implementation of SR-
NASDAQ 2022-051. See n.10, supra.
    \12\ A user may enter a Managed CMO using RASH, FIX, QIX, or
OUCH. See Rule 4703(d).
---------------------------------------------------------------------------

     If at the time of entry, there is no price to which a
Managed CMO, that has not been assigned a Routing Order Attribute or a
Time in Force of Immediate-or-Cancel, can be pegged or pegging would
lead to a price at which the Order cannot be posted, or if the Inside
Bid and Inside Offer are Crossed, then the CMO will not be immediately
available on the Exchange Book and will be entered once there is a
permissible price provided however, that the System will cancel the
Managed CMO if no permissible pegging price becomes available within
one second after Order entry (the Exchange may, in the exercise of its
discretion, modify the length of this one second time period by posting
advance notice of the applicable time period on its website).
     For a Managed CMO Order that has been assigned a Routing
Order Attribute, if there is no permissible price to which the Order
can be pegged at the time of entry, pegging would lead to a price at
which the Order cannot be posted, or the Inside Bid and Inside Offer
are crossed, the Order will be rejected.
     A CMO will have its price set upon initial entry to the
Midpoint, unless the CMO has a limit price, and that limit price is
lower than the Midpoint for a CMO to buy (higher than the Midpoint for
CMO to sell), in which case the Order will be ranked on the Exchange
Book at its limit price. If the Inside Bid and Inside Offer are locked,
a CMO will be priced at the locking price; and for Fixed CMOs, if the
Inside Bid and Inside Offer are crossed or if there is no

Inside Bid and/or Inside Offer, the Fixed CMO will not be accepted.
However, even if the Inside Bid and Inside Offer are locked, an Order
with CMO that locked an Order on the Exchange Book would execute.
     If a CMO has been assigned a Discretion Order Attribute,
the CMO may execute at any price within the discretionary price range,
even if beyond the limit price specified with respect to the Midpoint
Pegging Order Attribute. If CMO is priced at its limit price, the price
of the CMO may nevertheless be changed to a less aggressive price based
on changes to the Inside Quotation.
     Like other Orders with Pegging, CMOs are subject to a
collar. Any portion of a CMO with a Routing attribute to buy (sell)
that could execute, either on the Exchange or when routed to another
market center, at a price of more than the greater of $0.25 or 5
percent higher (lower) than the NBO (NBB) at the time when the order
reaches the System (the ``Collar Price''), will be cancelled. A CMO
entered without a Routing attribute will be cancelled, if it would, as
a result of the price determined by a Pegging Attribute, execute or
post to the Exchange Book at a price through the Collar Price.
     The System will cancel CMOs when a trading halt is
declared, and the System will reject any CMOs entered during a trading
halt.
    As noted above, a CMO will not be accepted outside of Market Hours,
but it will be eligible to participate in the Nasdaq Closing Cross. A
CMO remaining unexecuted after the Nasdaq Closing Cross occurs will be
cancelled by the System unless, in the case of a Fixed CMO, the user
selects a Time in Force for the Fixed CMO that provides for it to
persist thereafter.
    A CMO user may opt to apply the Minimum Quantity, Trade Now, or
Discretion Order Attributes to a CMO. Again, the Non-Display and
Midpoint Pegging Attributes always apply to CMOs.
    A CMO+PO will possess all of the characteristics and attributes of
a CMO, as described above, as well as those of a Midpoint Peg Post-Only
Order, as set forth in Rule 4702(b)(5), with certain exceptions set
forth below.
    Like a Midpoint Peg Post-Only Order, a CMO+PO is a non-displayed
Order that is priced at the Midpoint and executes upon entry only in
circumstances where economically beneficial to the party entering the
Order. If a CMO+PO has a Fixed Midpoint, then it may be adjusted after
initial entry and posting to the Exchange Book. The price at which a
Fixed CMO+PO is ranked on the Nasdaq Book is the midpoint between the
NBBO, unless the Order has a limit price that is lower than the
midpoint between the NBBO for an Order to buy (higher than the midpoint
between the NBBO for an Order to sell), in which case the Order will be
ranked on the Nasdaq Book at its limit price. The price of the Fixed
CMO+PO will not thereafter be adjusted based on changes to the NBBO.
However, a Fixed CMO+PO will be cancelled back to the Participant after
initial entry and posting to the Nasdaq Book if any of the following
conditions are met:
     There is no National Best Bid and/or National Best Offer;
     The Fixed CMO+PO to buy (sell) is entered with a limit
price above (below) the Midpoint of the NBBO and is ranked at the
Midpoint of the NBBO; thereafter, the NBBO changes so that the Midpoint
changes and the Fixed CMO+PO is no longer at the NBBO Midpoint;
     The Fixed CMO+PO to buy (sell) is entered at a limit price
that is equal to or less than (greater than) the Midpoint of the NBBO
and is ranked at its limit price; thereafter, the NBBO changes so that
the Midpoint of the NBBO is lower (higher) than the limit price of the
Fixed CMO+PO;
     The Fixed CMO+PO to buy (sell) is entered at a limit price
that is equal to or less than (greater than) the Midpoint of the NBBO
and is ranked at its limit price, thereafter the NBBO becomes crossed,
such that the Midpoint of the crossed NBBO remains equal to or higher
(lower) than the limit price of the Fixed CMO+PO, and then a new sell
(buy) Order is received at a price that locks or crosses the limit
price of the resting Fixed CMO+PO; or
     The Fixed CMO+PO to buy (sell) is entered at a limit price
that is greater than (less than) the Midpoint of the NBBO and is
therefore ranked at the Midpoint of the NBBO, thereafter the NBBO
becomes crossed but the Midpoint does not change, and then a new sell
(buy) Order is received at a price that locks or crosses the Midpoint
of the NBBO.
    If a CMO+PO has a Managed Midpoint, then also like a Midpoint Peg
Post-Only Order, the price of the CMO+PO will be updated repeatedly to
equal the midpoint between the NBBO; provided, however, that the CMO+PO
will not be priced higher (lower) than its limit price. In the event
that the midpoint between the NBBO becomes higher than (lower than) the
limit price of a CMO+PO to buy (sell), the price of the CMO+PO will
stop updating and the CMO+PO will post (with a Non-Display Attribute)
at its limit price, but will resume updating if the midpoint becomes
lower than (higher than) the limit price of the CMO+PO to buy (sell).
Similarly, if a CMO+PO is on the Nasdaq Book and subsequently the NBBO
is crossed, or if there is no NBBO, the Order will be removed from the
Nasdaq Book and will be re-entered at the new midpoint once there is a
valid NBBO that is not crossed. The CMO+PO receives a new timestamp
each time its price is changed.
    Like a Midpoint Peg Post-Only Order, but unlike an ordinary CMO, a
CMO+PO will not be eligible to participate in the Nasdaq Opening Cross,
Closing Cross, or Halt Cross, and all CMO+POs will be cancelled if they
remain on the Exchange Book at the end of Market Hours.\13\ Also like a
Midpoint Peg Post-Only Order, but unlike an ordinary CMO, a CMO+PO may
not possess the Discretion or Routing Order Attributes, and a CMO+PO
must be priced at more than $1 per share. Finally, unlike a Midpoint
Peg Post-Only Order, RASH may be used to enter a CMO+PO with a Time in
Force of IOC (as well as OUCH, which can be used for such purposes with
respect to a MPPO), and in such cases the Order will be canceled after
determining whether it can be executed.
---------------------------------------------------------------------------

    \13\ A CMO+PO entered prior to the beginning of Market Hours
will be rejected. A CMO+PO will be cancelled by the System when a
trading halt is declared, and any CMO+PO entered during a trading
halt will be rejected.
---------------------------------------------------------------------------

    CMO and CMO+PO executions will be reported to Securities
Information Processors and provided in the Exchange's proprietary data
feed without any new or special indication.
    As part of the surveillance the Exchange currently performs, CMOs
and CMO+POs will be subject to real-time surveillance to determine if
they are being abused by market participants. The Exchange is committed
to determining whether there is opportunity or prevalence of behavior
that is inconsistent with normal risk management behavior. Manipulative
abuse is subject to potential disciplinary action under the Exchange's
Rules, and other behavior that is not necessarily manipulative but
nonetheless frustrates the purposes of the CMO or CMO+PO may be subject
to penalties or other participant requirements to discourage such
behavior, should it occur.\14\
---------------------------------------------------------------------------

    \14\ Punitive fees or other participant requirements tied to CMO
and CMO+PO usage will be implemented by rule filing under Section
19(b) of the Act, 15 U.S.C. 78s(b), should the Exchange determine
that they are necessary to maintain a fair and orderly market.
---------------------------------------------------------------------------

    The Exchange plans to implement CMO and CMO+PO within thirty days
after Commission approval of the

proposal. The Exchange will make the CMO and CMO+PO available to all
members and to all securities upon implementation. The Exchange will
announce the implementation date by Equity Trader Alert.\15\
---------------------------------------------------------------------------

    \15\ The Exchange plans to propose a fee structure for the CMO
and CMO+PO in a subsequent Commission rule filing.
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\16\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\17\ in particular, in that it is designed to
promote just and equitable principles of trade, to remove impediments
to and perfect the mechanism of a free and open market and a national
market system, and, in general to protect investors and the public
interest. In particular, the proposal is consistent with the Act
because it would create additional options with respect to how
participants can manage trading at the Midpoint. These additional
options allow participants to more finely tune their interactions in
the market, which can lead to more efficient trading opportunities on
the Exchange for investors with similar investment objectives.\18\ Much
like the analogous M-ELO Order Type, which Nasdaq introduced a few
years ago, CMO and CMO+PO would provide market participants with a
means to avoid certain execution scenarios which they may deem
unfavorable. Unlike M-ELO, however, which imposes a waiting period upon
participants to bring like-minded participants together, the CMO and
CMO+PO would have no such waiting period. That is, the Exchange
designed CMO and CMO+PO for participants that want Midpoint executions,
but have a greater urgency to execute their orders and are not
concerned about interacting with other participants acting with similar
urgency. At the same time, the CMO and CMO+PO will avoid interacting
with orders that are likely to shift the midpoint even without a
holding period by providing for the System to cancel a CMO or CMO+PO
when faced with incoming Order that cross the Midpoint or are otherwise
likely to cause a shift in the Midpoint. For Fixed CMOs and CMO+POs,
users could then choose to enter a new CMO to take advantage of a
better ensuing Midpoint; for Managed CMOs and CMO+PO, the System will
do this automatically.
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78f(b).
    \17\ 15 U.S.C. 78f(b)(5).
    \18\ Cf. Securities Exchange Act Release No. 34-82825 (March 7,
2018), 83 FR 10937 (March 13, 2018) (SR-NASDAQ-2017-074) (approving
the Midpoint Extended Life Order (``M-ELO'') because it could
``create additional and more efficient trading opportunities on the
Exchange for investors with longer investment time horizons,
including institutional investors, and could provide these investors
with an ability to limit the information leakage and the market
impact that could result from their orders.'').
---------------------------------------------------------------------------

    The CMO and CMO+PO will be available for voluntary use by all
Exchange members. Moreover, the proposal is not unfair to participants
with incoming Orders that trigger cancellation of CMOs because exchange
functionality which permits like-minded participants the ability to
achieve their objectives in an efficient manner will improve overall
execution quality on the market, to the benefit of all market
participants. Moreover, the protections that these Order Types provide
are narrowly tailored to mitigate the risk of adverse executions.\19\
---------------------------------------------------------------------------

    \19\ Cf. Order Approving a Proposed Rule Change to Add a New
Discretionary Limit Order Type Called D-Limit, Securities Exchange
Act Release No. 34-89686 (August 26, 2020), 85 FR 54438 (September
1, 2020) (SR-IEX-2019-15) (``D-Limit orders will encourage long term
investors to participate in the displayed exchange market by
protecting them against one particular strategy employed by short
term traders. It is not unfairly discriminatory for an exchange to
address that advantage in a narrowly tailored manner that promotes
investor protection and the public interest. Accordingly, the
Commission concludes that IEX's proposal is not designed to permit
unfair discrimination between customers, issuers, brokers, or
dealers.'').
---------------------------------------------------------------------------

    Like all other Order Types, the Exchange will conduct real-time
surveillance to monitor the use of CMOs and CMO+POs to ensure that such
usage is appropriately tied to the intent of the Order Type.
Transactions in CMOs and CMO+POs will be reported to the Securities
Information Processor and will be provided in the Exchange's
proprietary data feed in the same manner as all other transactions
occurring on the Exchange, without any new or special indication that
it is a CMO or CMO+PO execution. The Exchange believes that doing so is
important to ensuring that investors are protected from any market
impact that may occur if CMO executions were reported with a special
indication.
    The Exchange does not believe that the proposed CMO or CMO+PO will
negatively affect the quality of the market. To the contrary, the
Exchange believes that the addition of CMO and CMO+PO will draw new
market participants to the Exchange's transparent and well-regulated
market, including participants that were previously not utilizing M-
ELOs or M-ELO+CBs. Moreover, like these other Order Types, the CMO and
CMO+PO will allow investors an opportunity to find like-minded
counterparties at the midpoint on the Exchange, while also limiting
executions users may deem unfavorable and providing opportunities for
price improvement. Insofar as the CMO and CMO+PO would provide new
options for participants to achieve efficient, high-quality midpoint
executions, the CMO and CMO+PO stands to increase participation on the
Exchange and to improve the quality of executions on the Exchange, to
the benefit of all market participants.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act.
    The Exchange believes that the introduction of the CMO and CMO+PO
will draw new market participants to the Exchange while also providing
a new option for existing participants that wish to achieve benefits
similar to M-ELO or M-ELO+CB--high-quality Midpoint executions--but do
not wish for their Orders to be subject to a Holding Period or care
about their counterparties being subject to the same. To the extent the
proposed change is successful in attracting additional market
participants or increasing existing participation on the Exchange,
Nasdaq believes that the proposed change will promote competition among
trading venues by making the Exchange a more attractive trading venue
for investors and participants.
    Additionally, adoption of the CMO and CMO+PO will not burden
competition among market participants. The CMO and CMO+PO will be
available to all Exchange members and it will be available on an
optional basis. Thus, any member that seeks to avail itself of the
benefits of a CMO or CMO+PO can choose accordingly. Although the
proposal provides potential benefits for investors that select the CMO
and CMO+PO, the Exchange believes that all market participants will
benefit to the extent that this proposal contributes to a healthy and
attractive market that is attentive to the needs of all types of
investors.
    The proposal also will not adversely impact market participants
that choose not to use these Order Types because no changes need to be
made to participants' systems to account for it. As discussed above,
CMO and CMO+PO executions will be reported the same as other
executions, without any new or special indicator.
    In any event, the Exchange notes that it operates in a highly
competitive market in which market participants can

readily choose between competing venues if they deem participation in
the Exchange's market is no longer desirable. In such an environment,
the Exchange must carefully consider the impact that any change it
proposes may have on its participants, understanding that it will
likely lose participants to the extent a change is viewed as
unfavorable by them. Because competitors are free to modify the
incentives and structure of their markets, the Exchange believes that
the degree to which modifying the market structure of an individual
market may impose any burden on competition is limited. Last, to the
extent the proposed change is successful in attracting additional
market participants or additional activity by existing participants,
the Exchange also believes that the proposed change will promote
competition among trading venues by making the Exchange a more
attractive trading venue for participants and investors.

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

    No written comments were either solicited or received.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the Exchange consents, the Commission shall: (a) by order approve
or disapprove such proposed rule change, or (b) institute proceedings
to determine whether the proposed rule change should be disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-NASDAQ-2022-077 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-NASDAQ-2022-077. 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-NASDAQ-2022-077 and should be submitted
on or before February 1, 2023.
---------------------------------------------------------------------------

    \20\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-00320 Filed 1-10-23; 8:45 am]
BILLING CODE 8011-01-P