[Federal Register Volume 79, Number 44 (Thursday, March 6, 2014)]
[Notices]
[Pages 12713-12721]
[FR Doc No: 2014-04920]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 71634; File No. SR-MIAX-2014-08]

Self-Regulatory Organizations; Miami International Securities
Exchange LLC; Notice of Filing of Proposed Rule Change To Modify Price
Protection Provisions for the Execution of Orders

February 28, 2014.
    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 February 14, 2014, Miami International Securities Exchange LLC
(``MIAX'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I, II, and III below, which Items have been prepared by the self-
regulatory organization. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange is filing a proposal to amend Exchange Rules 515 and
529 to modify price protection provisions for the execution of orders.
    The text of the proposed rule change is available on the Exchange's
Web site at http://www.miaxoptions.com/filter/wotitle/rule_filing, at
MIAX's principal office, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to amend Exchange Rules 515 and 529 to modify
price protection provisions for the execution of orders to provide
market participants additional flexibility to designate the level of
price protections for their orders. The Exchange proposes to: (i) Amend
Rule 515(c) to establish a new price protection for market
participants; (ii) amend Rule 529 to allow for immediate routing in an
additional situation; and (iii) make corresponding technical changes
including deleting the language in current Rule 515(c).
    Specifically, the Exchange proposes to amend Rule 515 to: (a) Amend
price protection functionality as described in Rule 515(c) to be
flexible and customizable by market participants and allow for the
execution of a non-Market Maker order at multiple price points instead
of a one-size-fits-all system that permits executions at a maximum of
two price-points; (b) amend the handling of incoming routable non-
Market Maker orders as described in Rule 515(c) to account for the
flexibility of the proposed price protection functionality; (c) amend
the handling of incoming non-routable non-Market Maker orders as
described in Rule 515(c) to account for the flexibility of the proposed
price protection functionality; (d) amend the Liquidity Refresh Pause
to account for the proposed price protection functionality which would
allow orders to trade at multiple price-points; (e) amend the Liquidity
Refresh message to include the exhausted MBBO price instead of the
original NBBO price; (f) amend the Liquidity Refresh Pause so that a
new quote or order received during a Liquidity Refresh Pause on the
same side of the market as the initiating order's remaining contracts
that locks or crosses the original NBBO will terminate the Liquidity
Refresh Pause instead of joining the initiating order to wait for the
end of the Pause; (g) amend the handling of Immediate or Cancel and
Fill or Kills orders during a Liquidity Refresh Pause so that the
Liquidity Refresh Pause will terminate early if such orders improve the
same side of the market as the initiating order; (h) amend the handling
of Immediate or Cancel orders to apply a price protection system
similar to that for non-Market Maker orders; (i) amend the handling of
Fill-or-Kill orders to apply a price protection system similar to that
for non-Market Maker orders; and (j) provide a new Interpretation and
Policy to Rule 515 to codify how the managed interest is priced when
there are multiple possible execution prices. In addition, the Exchange
proposes to amend Rule 529 to allow resting Public Orders to route in a
specific scenario. Finally, the Exchange proposes to make corresponding
technical changes including deleting the language in current Rule
515(c) and replacing references in Rules 516 and 520.
Non-Market Market Orders That Could Not Be Executed or Could Not Be
Executed in Full at the Original NBBO Upon Receipt
    Rule 515(c) currently details the execution of non-Market Market
orders that could not be executed or could not be executed in full at
the original NBBO upon receipt. Proposed Rule 515(c) continues to
address the execution of such non-Market Maker orders. However, the
Exchange proposes to add language to explain that such orders,
depending upon the order's specific price protection instructions, may
be reevaluated for executions at additional price-points. Specifically,
non-Market Maker orders that are reevaluated by the System for
execution pursuant to an order's price protection instructions that
could not be executed or could not be executed in full at the NBBO at
the time of reevaluation will be handled in accordance with the
provisions of Proposed Rule 515(c). The subparagraphs of Proposed Rule
515(c) will apply to orders both (i) upon receipt by the System, and
(ii) upon reevaluation by the System for

execution and according to the price protections designated on the
order. The term ``initiating order'' will be used in the subparagraphs
of Proposed Rule 515(c) to refer to (i) the incoming order that could
not be executed, (ii) the order reevaluated by the System for execution
that could not be executed, or (iii) the remaining contracts of the
incoming order or reevaluated order could not be executed in full. The
term ``original NBBO'' will be used in the following paragraphs to
refer to the NBBO that existed at time of receipt of the initiating
order or the NBBO at time of reevaluation of an order pursuant to Rule
515. The language added to Proposed Rule 515(c) is necessary to
accommodate the possibility of a non-Market Maker executing at multiple
price-points in accordance with the proposed price protection
functionality.
Price Protection
    Rule 515(c) currently provides a detailed price protection process
that includes a managed interest process and liquidity refresh pause.
Rule 515(c) currently imposes a fixed, one Minimum Price Variation
(MPV) price protection scheme in which incoming non-Market Maker orders
can, at a maximum, trade at two price-points--at the original NBBO and
one MPV away from the original NBBO upon receipt.\3\ Thereafter, the
System will cancel the remaining portion of any order that can
potentially trade at a price more than one MPV away from the original
NBBO.\4\
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    \3\ The Exchange does not propose to amend the provisions
regarding the execution of orders and quotes described in Rules
515(b), 515(d), and 515(f)-(h). See Exchange Rules 515(b), (d), (f)-
(h). As discussed below, the Exchange does propose to amend Rule
515(a), 515(c), and 515(e).
    \4\ See current Exchange Rules 515(c)(1)(ii)(A),
(c)(1)(ii)(B)(1)(b), (c)(1)(ii)(B)(2)(b), (c)(1)(iii)(A)(1)(a)2),
(c)(1)(iii)(A)(1)(b)2), (c)(1)(iii)(B)(1)(b), and
(c)(1)(iii)(B)(2)(b) (instances where the System cancels orders that
are priced more than one MPV away from the NBBO).
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    The Exchange believes that the current price protection
functionality is too rigid and does not meet the needs of all market
participants. Since commencing operations over one year ago, both the
Exchange and its participants have gained in knowledge and experience
in the use of the Exchange System and stand ready for the next step in
its evolution--a more flexible system of price protection. The Exchange
believes that the additional flexibility of the proposed price
protection provides market participants with an invaluable level of
protection on the Exchange in the wake of recent industry-wide market
events. The Exchange also proposes the functionality as part of its
broader response to the Commission's initiative regarding such
industry-wide market events.
    The Exchange proposes to amend Rule 515(c) to provide more
flexibility in the price protections offered to market participants by
replacing the rigid price protection system with a customizable one
where market participants may specify the level of price protection by
the number of price-points at which an order may trade. The current
price protection functionality does not offer flexibility and caps the
execution of every incoming non-Market Maker order with a maximum of
two price-points--at the original NBBO at the time of receipt and one
MPV away from the original NBBO. The Exchange proposes to replace this
rigidity with flexibility and choice. Specifically, the Exchange
proposes to open up the price protection functionality so that market
participants may designate, on an order by order basis, price
protection instructions that are expressed in units of MPV away from
the NBBO at the time of the order's receipt, or the MBBO if the ABBO is
crossing the MBBO. Price protection prevents an order from being
executed beyond the price designated in the order's price protection
instructions (the ``price protection limit''). If a market participant
does not provide such price protection instructions, the Exchange
proposes implementing a default price protection consistent with the
current price protection functionality--one MPV away from the NBBO at
the time of receipt, or the MBBO if the ABBO is crossing the MBBO.
Currently all incoming non-Market Marker orders are subject to price
protection functionality. However in contrast the Exchange now proposes
providing market participants, if they so choose, with the ability to
elect to disable price protection on an order by order basis.\5\ To
sum, the proposed price protection system provides market participants
with greater control over how their order is executed and allows for
greater interaction with liquidity both on MIAX and away markets, all
while retaining the protective benefits of the current system that
prevents incoming non-Market Maker orders from executing beyond a
certain price-point. As proposed, an order will be able to execute up
or down to its price protection--which would be fully customizable and
no longer a one-size-fits-all approach of the current functionality.
When triggered, price protection will cancel an order or the remaining
contracts of an order. Consistent with current functionality, the
System will not execute incoming orders at prices inferior to the
NBBO.\6\
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    \5\ The Exchange notes that orders will still be subject to the
other price protections systematically enforced for all orders,
e.g., Exchange Rule 503(f)(5), Expanded Quote Range, Exchange Rule
519, MIAX Order Monitor.
    \6\ See both current and Proposed Exchange Rule 515(a)--this
point is unchanged.
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    The following example describes the price protection functionality
when a non-Market Maker limit order trades until it reaches its price
protection instruction limit.\7\ In this situation, the remaining
contracts will be cancelled because the price protection instructions
have been triggered. Price protection prevents the order in this
example from receiving an execution beyond the price protection limit,
calculated as a specified number of MPVs away from the NBBO at the time
of receipt, or the MBBO if the ABBO is crossing the MBBO, by canceling
the order back to the market participant. Upon receipt of the
cancellation, a market participant may then elect to resubmit the
order.
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    \7\ The non-Market Maker limit order in this example could be
either a Routable or Non-Routable order as this distinction does not
matter because the order is never subjected to being routed as the
ABBO exceeds the order's limit. Upcoming examples will demonstrate
the difference between Routable and Non-Routable orders.

   Example 1: Limit Price Exceeds Price Protection--Order Traded Until
                 Price Protection Limit and Is Canceled
------------------------------------------------------------------------
                   Market                          Bid           Ask
------------------------------------------------------------------------
ABBO........................................     1.00 (10)     1.20 (10)
Order 1.....................................  ............     1.10 (10)
Order 2.....................................  ............     1.12 (10)
Order 3.....................................  ............     1.15 (10)
Order 4.....................................  ............     1.16 (10)
PLMM........................................     1.00 (10)     1.20 (10)
------------------------------------------------------------------------

 Order 5: Buy limit of 1.13 for 100 contacts with a price
protection instruction of 2 MPVs
 MBBO at time of arrival = 1.00 (10) x 1.10 (10)
 NBBO at time of arrival = 1.00 (20) x 1.10 (10)
 Order 5 is price protected at 1.12 (which is 1.10 + 2 MPV =
1.12)
 Order 5 trades 10 contracts with Order 1 @ 1.10
 Order 5 trades 10 contracts with Order 2 @ 1.12
 Order 5's remaining contracts are then cancelled because there
is no more interest to trade against at Order 5's price protection
level of 1.12. Order 5's remaining contracts are cancelled and not
placed on the Book because limit price of 1.13

exceeds its price protection limit of 1.12

    The following example describes the price protection functionality
when a limit order reaches its limit price and can be displayed.\8\
Price protection does not factor into this example as the limit price
is reached before the price protection price.
---------------------------------------------------------------------------

    \8\ The non-Market Maker limit order in this example could be
either a Routable or Non-Routable order as this distinction does not
matter because the ABBO exceeds the order's limit. Upcoming examples
will demonstrate the difference between Routable and Non-Routable
orders.

Example 2: Price Protection Exceeds Limit Price--Limit Price Reached and
                             Order Is Booked
------------------------------------------------------------------------
                   Market                          Bid           Ask
------------------------------------------------------------------------
ABBO........................................     1.00 (10)     1.20 (10)
Order 1.....................................  ............     1.10 (10)
Order 2.....................................  ............     1.12 (10)
Order 3.....................................  ............     1.15 (10)
Order 4.....................................  ............     1.16 (10)
PLMM........................................     1.00 (10)     1.20 (10)
------------------------------------------------------------------------

 Order 5: Buy limit of 1.13 for 100 contacts with a price
protection instruction of 4 MPVs
 MBBO at time of arrival = 1.00 (10) x 1.10 (10)
 NBBO at time of arrival = 1.00 (10) x 1.10 (10)
 Order 5 is price protected at 1.14 (which is 1.10 + 4 MPV =
1.14)
     Order 5 trades 10 contracts with Order 1 @ 1.10
     Order 5 trades 10 contracts with Order 2 @ 1.12
     Order 5's remaining contracts are then placed on the MIAX
Book @ 1.13 as Order 5 has reached its limit price of 1.13

    The following example describes the price protection functionality
when a limit order reaches its limit price and can be displayed.\9\ In
this example, the order's limit price and the price protection price
are equal. In these scenarios, the order will be displayed at its limit
price rather than be canceled.\10\
---------------------------------------------------------------------------

    \9\ The non-Market Maker limit order in this example could be
either a Routable or Non-Routable order as this distinction does not
matter because the ABBO exceeds the order's limit. Upcoming examples
will demonstrate the difference between Routable and Non-Routable
orders.
    \10\ See Proposed Rule 515(c)(1)(i)(C) and (c)(1)(ii)(C).

 Example 3: Price Protection Equals Limit Price--Limit Price Reached and
                             Order Is Booked
------------------------------------------------------------------------
                   Market                          Bid           Ask
------------------------------------------------------------------------
ABBO........................................     1.00 (10)     1.20 (10)
Order 1.....................................  ............     1.10 (10)
Order 2.....................................  ............     1.12 (10)
Order 3.....................................  ............     1.15 (10)
Order 4.....................................  ............     1.16 (10)
PLMM........................................     1.00 (10)     1.20 (10)
------------------------------------------------------------------------

 Order 5: Buy limit of 1.13 for 100 contacts with a price
protection instruction of 3 MPVs
 MBBO at time of arrival = 1.00 (10) x 1.10 (10)
 NBBO at time of arrival = 1.00 (10) x 1.10 (10)
 Order 5 is price protected at 1.13 (which is 1.10 + 3 MPV =
1.13)
     Order 5 trades 10 contracts with Order 1 @ 1.10
     Order 5 trades 10 contracts with Order 2 @ 1.12
     Order 5's remaining contracts are then placed on the MIAX
Book @ 1.13 as Order 5 has reached its limit price of 1.13

Routable Non-Market Maker Orders

    The Exchange proposes amending the rules governing routable non-
Market Maker orders (``routable orders'') to accommodate for the
greater flexibility of the proposed price protection functionality
described above. Rule 515(c) currently allows routable orders to, at a
maximum, trade at two price-points--at the original NBBO and one MPV
away from the original NBBO upon receipt. Currently, an execution at
the second price point can only occur on MIAX \11\ because after
executing at this second price point at MIAX any remaining balance \12\
will be handled by the managed interest process \13\ rather than be
routed to away markets which may also be displaying this second price-
point.\14\ Specifically, if interest is not available at MIAX at this
second price point, the System will, depending on the order's price,
either (i) handle any remaining according to the managed interest
process rather than routing to an away market that may be displaying
interest at this second price-point,\15\ or (ii) cancel the remaining
balance.\16\
---------------------------------------------------------------------------

    \11\ See current Exchange Rule 515(c)(1)(ii)(B)(1) (the Exchange
System will execute such an order against the MIAX bid or offer one
MPV beyond the original NBBO).
    \12\ Remaining balance of a limit order with a limit price at
this second price-point are handled according to the managed order
process. See current Exchange Rule 515(c)(1)(ii)(B)(1)(a). Market
orders or orders with a limit price beyond this second price-point
are cancelled. See current Exchange Rule 515(c)(1)(ii)(B)(1)(b).
    \13\ Managed interest process allows the System, inter alia, to
display an order at a price that avoids locking or cross the NBBO.
See current Exchange Rule 515(c)(2).
    \14\ See current Exchange Rule 515(c)(1) (ii)(B)(1)(a).
    \15\ Orders that cross the original NBBO are handled according
to the managed interest process in these scenarios. See current
Exchange Rule 515(c)(1)(ii)(B)(2)(a).
    \16\ Market orders and orders with a limit price that crosses
the original NBBO by more than one MPV are canceled in these
scenarios. See current Exchange Rule 515(c)(1)(ii)(B)(2)(b).
---------------------------------------------------------------------------

    The Exchange proposes adding greater flexibility to the price
protection functionality as applied to routable orders. As proposed,
the System will seek to trade routable orders to the extent possible at
MIAX first before routing to the ABBO. The System will trade and/or
route a routable order until the first of: The order is fully executed;
the order has traded or routed to and including its price protection
limit; or the order has traded or routed to and including its limit
price. A routable order that would otherwise trade and/or route through
its price protection limit will be canceled. For a routable order that
has traded or routed to and including its limit price, the System will
display and book the order at its limit price to await further
execution in accordance with Rule 515. As current, the System will not
execute such orders at prices inferior to the current NBBO. Consistent
with the current rule, the routing of routable orders will be handled
in accordance with Rule 529.
    The following example describes the how the price protection will
handle routable non-Market Maker orders. In this example, the order
routes at multiple price-points, with each price point triggering a
Route Timer,\17\ and the order's remaining contracts eventually get
cancelled because it has routed at prices up to and including its price
protection instructions. Price protection prevents an order from
receiving an execution beyond a specific price, calculated as a
specified number of MPVs away from the NBBO at the time of receipt, or
the MBBO if the ABBO is crossing the MBBO, by canceling the order back
to the market participant. The Exchange notes that after each route,
the System will reevaluate the order to consider any

updates to the away market quotes in the next decision.
---------------------------------------------------------------------------

    \17\ The System will handle any routing of a routable order
according to Exchange Rule 529. See Proposed Rule 515(c)(1)(i).
Currently, such routable orders are only eligible to route once--to
away markets displaying the NBBO upon receipt--with any remaining
balance either being handled according to the managed interest
process or cancelled. See current Exchange Rule 515(c)(1)(ii)(B).
Since the proposed price protection functionality allows routable
orders to trade and route at multiple price-points, it is possible
for Route Timers to be triggered at multiple price-points.

   Example 4: Routable Order--Price Protection Limit Reached and Order
                                Canceled
------------------------------------------------------------------------
                   Market                          Bid           Ask
------------------------------------------------------------------------
MIAX........................................     1.00 (10)     1.20 (10)
MKT1........................................     1.00 (10)     1.10 (10)
MKT2........................................     1.00 (10)     1.12 (10)
MKT3........................................     1.00 (10)     1.15 (10)
MKT4........................................     1.00 (10)     1.16 (10)
------------------------------------------------------------------------

 Order 1: Buy limit of 1.13 for 100 contacts with a price
protection instruction of 2 MPVs
 NBBO at time of arrival = 1.00 (50) x 1.10 (10)
     Order 1 is price protected at 1.12 (which is 1.10 + 2 MPV
= 1.12)
     Route Timer is triggered as Order 1 is eligible to route
to MKT1
     MBBO is updated: 1.09 (100) x 1.20 (10)
     Route Timer expires and 10 contracts of Order 1 are routed
to MKT1 @ 1.10
     The System will reevaluate Order 1 pursuant to Rule 515 to
trade, post, route, or cancel considering any updates to the away
market quotes--assume for the example that no market has updated it
quote
     NBO at time of reevaluation: 1.12 (10) (MKT 2)
     The NBO of 1.12 is within Order 1's price protection limit
of 1.12
     Route Timer is triggered as Order 1 is eligible to route
to MKT2
     MBBO is updated: 1.11 (90) x 1.20 (10)
     Route Timer expires and 10 contracts of Order 1 are routed
to MKT2 @ 1.12
     The System will reevaluate Order 1 pursuant to Rule 515 to
trade, post, route, or cancel considering any updates to the away
market quotes--assume for the example that no market has updated it
quote
     NBO at time of reevaluation: MKT 3's 1.15 (10) (MKT 3)
     The NBO of 1.15 is outside of Order 1's price protection
limit of 1.12
     Order 1's remaining 80 contracts are then cancelled
because it has been routed until its price protection limit of 1.12.
Order 1 cannot displayed at its limit of 1.13 because this could allow
Order 1 to be execution at a price (1.13) exceeding its price
protection limit (1.12)

   Example 5: Routable Order--Quote Update and Order Is Fully Executed
------------------------------------------------------------------------
                   Market                          Bid           Ask
------------------------------------------------------------------------
MIAX........................................     1.00 (10)     1.20 (10)
MKT1........................................     1.00 (10)     1.10 (10)
MKT2........................................     1.00 (10)     1.12 (10)
MKT3........................................     1.00 (10)     1.15 (10)
MKT4........................................     1.00 (10)     1.16 (10)
------------------------------------------------------------------------

 Order 1: Buy limit of 1.13 for 100 contacts with a price
protection instruction of 2 MPVs
 NBBO at time of arrival = 1.00 (50) x 1.10 (10)
 Order 1 is price protected at 1.12 (which is 1.10 + 2 MPV =
1.12)
     Route Timer is triggered as Order 1 is eligible to route
to MKT1
     MBBO is updated: 1.09 (100) x 1.20 (10)
     Route Timer expires and 10 contracts of Order 1 are routed
to MKT1 @ 1.10
 The System will reevaluate Order 1 pursuant to Rule 515 to
trade, post, route, or cancel considering any updates to the away
market quotes--assume for the example that MKT 4 has updated its quote:
1.00 (10) x 1.12 (80)
     NBO at time of reevaluation: 1.12 (90) (MKT 2 and MKT 4)
     The NBO of 1.12 is within Order 1's price protection limit
of 1.12
     Route Timer is triggered as Order 1 is eligible to route
to MKT 2 and MKT 4
     Route Timer expires and 10 contracts are routed to MKT 2 @
1.12 and 80 contracts of Order 1 are routed to MKT4 @ 1.12
     Order 1 has been fully executed

   Example 6: Routable Order--Limit Price Reached and Order Is Booked
------------------------------------------------------------------------
                   Market                          Bid           Ask
------------------------------------------------------------------------
MIAX........................................     1.00 (10)     1.20 (10)
MKT1........................................     1.00 (10)     1.10 (10)
MKT2........................................     1.00 (10)     1.12 (10)
MKT3........................................     1.00 (10)     1.15 (10)
MKT4........................................     1.00 (10)     1.16 (10)
------------------------------------------------------------------------

 Order 1: Buy limit of 1.12 for 100 contacts with a price
protection instruction of 2 MPVs
 NBBO at time of arrival = 1.00 (50) x 1.10 (10)
     Order 1 is price protected at 1.12 (which is 1.10 + 2 MPV
= 1.12)
     Route Timer is triggered as Order 1 is eligible to route
to MKT1
     MBBO is updated: 1.09 (100) x 1.20 (10)
     Route Timer expires and 10 contracts of Order 1 are routed
to MKT1 @ 1.10
     The System will reevaluate Order 1 pursuant to Rule 515 to
trade, post, route, or cancel considering any updates to the away
market quotes--assume for the example that no market has updated it
quote
     NBO at time of reevaluation: 1.12 (10) (MKT 2)
     The NBO of 1.12 is within Order 1's price protection limit
of 1.12
     Route Timer is triggered as Order 1 is eligible to route
to MKT2
     MBBO is updated: 1.11 (90) x 1.20 (10)
     Route Timer expires and 10 contracts of Order 1 are routed
to MKT2 @ 1.12
     The System will reevaluate Order 1 pursuant to Rule 515 to
trade, post, route, or cancel considering any updates to the away
market quotes--assume for the example that no market has updated its
quote
     Order 1's remaining 80 contracts are placed on the Book at
its limit price of 1.12
     MBBO is updated: 1.12 (80) x 1.20 (10)
Non-Routable Non-Market Maker Orders
    The Exchange proposes amending the rules governing non-routable
non-Market Maker orders (``non-routable orders'') to accommodate for
the greater flexibility of the proposed price protection functionality
described above. Rule 515(c) currently allows non-routable orders to,
at a maximum, trade at two price-points--at the original NBBO and one
MPV away from the original NBBO upon receipt. Thereafter, the System
will cancel the remaining portion of any order that can potentially
trade at a price more than one MPV away from the original NBBO.\18\
---------------------------------------------------------------------------

    \18\ See current Exchange Rule 515(c)(1)(ii)(A),
(c)(1)(iii)(A)(1)(a)(2), (c)(1)(iii)(A)(1)(b)(2),
(c)(1)(iii)(B)(1)(b), and (c)(1)(iii)(B)(2)(b) (instances where the
System cancels non-routable orders that are priced more than one MPV
away from the NBBO).
---------------------------------------------------------------------------

    Consistent with the current price protections, a non-routable order
will never be routed outside of the Exchange regardless of prices
displayed by away markets and can trade on the Exchange at a price
equal to or better than, but not inferior to, the ABBO. As current, the
System will not execute such orders at prices inferior to the current
NBBO. The Exchange proposes adding flexibility to the price protection
functionality as applied to non-routable orders by allowing the System
to trade a non-routable order until the first of: The order is fully
executed; the order has traded to and including its price

protection limit; or the order has traded to and including its limit
price. A non-routable order that reaches its price protection limit
before its limit price will be canceled. If a non-routable order
reaches its limit price, the System will attempt to display this non-
routable order at its limit price. However, if its limit price would
lock or cross the current opposite side NBBO, the System will display
the order one MPV away from the current opposite side NBBO, and book
the order at a price that will lock the current opposite side NBBO.
Should the NBBO price change to an inferior price level, the order's
Book price will continuously re-price to lock the new NBBO and the
managed order's displayed price will continuously re-price one MPV away
from the new NBBO until the order's has traded to and including its
limit price, has traded to and including its price protection limit at
which any remaining contracts are cancelled, is fully executed, or is
cancelled. If the Exchange receives a new order or quote on the
opposite side of the market from the managed order that can be
executed, the System will immediately execute the remaining contracts
from the initiating order to the extent possible at the order's current
Book price, provided that the execution price does not violate the
current NBBO. If unexecuted contracts remain from the initiating order,
the order's size will be revised and the MBBO disseminated to reflect
the order's remaining contracts.
    The following example describes how the price protection will
handle non-routable non-Market Maker orders. In this example, the non-
routable order trades at multiple price-points on MIAX until it reaches
the ABBO. The order is then managed as to avoid locking or crossing the
ABBO. Subsequently, an incoming opposite side order trades with the
managed order at the MIAX Book price.

    Example 7: Price Protection[dash]Non-Routable Order Gets Managed
------------------------------------------------------------------------
                   Market                          Bid           Ask
------------------------------------------------------------------------
ABBO........................................     1.00 (10)     1.12 (10)
Order 1.....................................  ............     1.10 (10)
Order 2.....................................  ............     1.12 (10)
Order 3.....................................  ............     1.15 (10)
Order 4.....................................  ............     1.16 (10)
------------------------------------------------------------------------

 Order 5: Do Not Route Buy limit of 1.13 for 100 contacts with
a price protection instruction of 3 MPVs
 NBBO at time of arrival = 1.00 (10) x 1.10 (10)
 Order 5 is price protected at 1.13 (which is 1.10 + 3 MPV =
1.13)
      Order 5 trades 10 contracts with Order 1 @ 1.10
      Order 5 trades 10 contracts with Order 2 @ 1.12
      Order 5's remaining contracts are then displayed in the
MIAX Bid @ 1.11 as to not lock the Away Best Offer of 1.12, but remain
available to trade on the MIAX Book @ 1.12
 Order 6: Sell limit of 1.10 for 10 contracts
 Order 5 trades 10 contracts with Order 6 @ 1.12

Liquidity Refresh Pause

    The Liquidity Refresh Pause, as proposed, will continue to operate
in substantially the same manner as today, except where noted below.
The Liquidity Refresh Pause will continue to apply in the following
situation: (A) Either the initiating order is a limit order whose limit
price crosses the NBBO or the initiating order is a market order, and
the limit order or market order could only be partially executed; (B) a
Market Maker quote was all or part of the MBBO when the MBBO is alone
at the NBBO; and (C) and the Market Maker quote was exhausted. However,
the Liquidity Refresh Pause mechanism, as proposed, will apply either
upon receipt or reevaluation of an initiating order. This change is
consistent with the new price protection functionality described above,
which can allow an order to trade at multiple price-points--not just at
the price-point of the NBBO upon the receipt of an order. Allowing
orders to trade at multiple price-points necessitates a change in the
language describing the Liquidity Refresh Pause as it too can apply at
multiple price-points. Hence the proposed rule adopts the term
``reevaluation'' together with ``upon receipt,'' with the latter
applying to the first price-point and the former applying to subsequent
price-points.
    The System will continue to broadcast a liquidity refresh message
in largely the same manner as today. In addition to providing a
description of the option and the size and side of the order, the
Exchange proposes to include the exhausted MBBO price in the liquidity
refresh message broadcast to subscribers of the Exchange's data
feeds.\19\ Consistent with this, the Exchange proposes to display the
remainder of the initiating order at ``the exhausted MBBO price''
instead of ``the original NBBO price, which has been exhausted'' as
currently described in Rule 515(c)(iii)(A). This change is consistent
with the new price protection functionality described above which can
allow an order to trade at multiple price-points--not just the original
NBBO. Allowing orders to trade at multiple price-points necessitates a
change in the language describing the Liquidity Refresh Pause message
as the Liquidity Refresh Pause can apply at multiple price-points.
Hence the proposed rule adopts the term ``the exhausted MBBO'' in place
of ``the original NBBO'' because the latter seems only to apply to the
first price-point while the former can apply to the first price-point
and any other subsequent price-points.
---------------------------------------------------------------------------

    \19\ The Exchange notes that broadcast message will be sent to
subscribers of the Exchange's data feeds and not disseminated to
OPRA, in the same manner as today. As such, this broadcast message
itself does not qualify as a Protected Bid or Protected Offer. See
Exchange Rule 1400(o).
---------------------------------------------------------------------------

    The Exchange proposes amending the handling of new quotes or orders
that arrive during a Liquidity Refresh Pause on the same side of the
initiating order's remaining contracts, which locks or crosses the
original NBBO. Currently, such orders are added to the MBBO and the
Pause continues to run. The Exchange proposes that the Liquidity
Refresh Pause terminate early and the System process all quotes and
orders in the order in which they were received. The Exchange believes
the termination of the Liquidity Pause in these scenarios necessary to
allow the displayed opposite side of MBBO to receive an immediate
execution. The initiating order and any new order(s) or quote(s) on the
same side of the market received during the liquidity refresh pause
will be processed in the order in which they were received. Thus, the
initiating order will be executed first and any additional order(s) or
quote(s) will be executed in order of receipt.
    The Exchange proposes that if at the end of the Liquidity Refresh
Pause all orders and quotes were not completely filled or cancelled,
the System will reevaluate the order for execution pursuant to Rule 515
until exhausted. This change is consistent with the new price
protection functionality described above which can allow an order to
trade at multiple price-points.
    Lastly, the Exchange proposes to amend how Immediate or Cancel
(``IOC'') and Fill or Kill (``FOK'') orders interact with the Liquidity
Refresh Pause. Currently, if the Exchange receives an Immediate or
Cancel (``IOC'') or a Fill or Kill (``FOK'') order on the same side of
the market as the initiating order's remaining contracts, the System
will immediately cancel the IOC and FOK orders. The Exchange proposes
to amend this so that if the Exchange receives an IOC or FOK order on
the same side of the market as the initiating order's remaining
contracts, the System will immediately cancel the IOC and FOK orders
unless the IOC or

FOK order on the same side of the market as the initiating order locks
or crosses the opposite side NBBO, in which case the liquidity refresh
pause will be terminated early. If the liquidity refresh pause was
terminated due to the receipt of an IOC or FOK, the initiating order
and any new order(s) or quote(s) on the same side of the market
received during the liquidity refresh pause and the IOC or FOK will be
processed in the order in which they were received, with the initiating
order being processed first and the IOC or FOK being processed last.
    The following example describes how the revised Liquidity Refresh
Pause will operate in the price protection process. Specifically, this
example shows how the System will reevaluate an order which can result
in multiple Liquidity Refresh Pauses with the proposed flexibility of
the price protection functionality which can allow executions at
multiple price-points.

     Example 8: Price Protection--Multiple Liquidity Refresh Pauses
------------------------------------------------------------------------
                   Market                          Bid           Ask
------------------------------------------------------------------------
ABBO........................................     1.00 (10)     1.14 (10)
PLMM........................................     1.00 (10)     1.10 (10)
LMM 1.......................................     1.00 (10)     1.12 (10)
LMM 2.......................................     1.00 (10)     1.15 (10)
RMM 1.......................................     1.00 (10)     1.16 (10)
------------------------------------------------------------------------

     Order 1: Buy limit of 1.13 for 100 contacts with a price
protection instruction of 3 MPVs
     NBBO at time of arrival = 1.00 (50) x 1.10 (10)
     Order 1 is price protected at 1.13 (which is 1.10 + 3 MPV
= 1.13)
      Order 1 trades 10 contracts with PLMM @ 1.10
      Liquidity Refresh Pause is triggered because the MBO of
1.10 was alone at NBBO and PLMM's 1.10 offer was exhausted
      MBBO 1.10 (90) x 1.12 (10)
      Liquidity Refresh message is broadcasted on the
Exchange's data feeds: Buy 90 contracts, exhausted MBO of 1.10
      Liquidity Refresh Pause expires
      The System will reevaluate Order 1 pursuant to Rule 515
to trade, post, route, or cancel considering any updates to the away
market quotes--assume for the example that there are no updates
      Order 1 trades 10 contracts with LMM1 @ 1.12
      Liquidity Refresh Pause is triggered because the MBO of
1.12 offer was alone at NBBO and LMM1's 1.12 offer was exhausted
      MBBO 1.12 (80) x 1.15 (10)
      Liquidity Refresh message is broadcasted on the
Exchange's data feeds: Buy 80 contracts, exhausted MBO of 1.12
      Liquidity Refresh Pause expires
      The System will reevaluate Order 1 pursuant to Rule 515
to trade, post, route, or cancel considering any updates to the away
market quotes--assume for the example that there are no updates
      Order 1's remaining contracts are then placed on the MIAX
Book @ 1.13 as Order 1 has reached its limit price of 1.13
      MBBO 1.13 (80) x 1.15 (10)

    The following examples describes how an order entered during the
Liquidity Refresh Pause on the same side as the initiating order's
remaining contracts at a price that locks the original NBBO will
terminate the Liquidity Refresh Pause early.

  Example 9: Same Side Interest Terminates the Liquidity Refresh Pause
                                  Early
------------------------------------------------------------------------
                   Market                          Bid           Ask
------------------------------------------------------------------------
ABBO........................................     1.00 (10)     1.14 (10)
PLMM........................................     1.00 (10)     1.10 (10)
LMM 1.......................................     1.00 (10)     1.12 (20)
LMM 2.......................................     1.00 (10)     1.15 (10)
RMM 1.......................................     1.00 (10)     1.16 (10)
------------------------------------------------------------------------

 Order 1: Buy limit of 1.13 for 20 contacts with a price
protection instruction of 3 MPVs
 NBBO at time of arrival = 1.00 (50) x 1.10 (10)
 Order 1 is price protected at 1.13 (which is 1.10 + 3 MPV =
1.13)
     Order 1 trades 10 contracts with PLMM @ 1.10
     Liquidity Refresh Pause is triggered because the MBO of
1.10 was alone at NBBO and PLMM's 1.10 offer was exhausted
     MBBO 1.10 (10) x 1.12 (20)
     Liquidity Refresh message is broadcasted on the Exchange's
data feeds: Buy 10 contracts, exhausted MBO of 1.10 \20\
---------------------------------------------------------------------------

    \20\ Note that the pricing information contained in the
Liquidity Refresh message (Buy 10 contracts, exhausted MBO of 1.10)
corresponds to the MBB (1.10 (10)).
---------------------------------------------------------------------------

     Order 2: Buy limit of 1.12 for 10 contracts
     Liquidity Refresh Pause is terminated early upon the
arrival of Order 2 because Order 2 is at a price that would lock the
MBO of 1.12
     Order 1 trades 10 contracts with LMM1 @ 1.12. Order 1 has
been fully executed. Order 2 traded 10 contracts with LMM1 @ 1.12.
Order 2 and LMM1's offer have been fully executed.
     New MBBO: 1.00 (40) x 1.15 (10)

  Example 10: Same Side Interest Terminates the Liquidity Refresh Pause
                                  Early
------------------------------------------------------------------------
                   Market                          Bid           Ask
------------------------------------------------------------------------
ABBO........................................     1.00 (10)     1.14 (10)
PLMM........................................     1.00 (10)     1.10 (10)
LMM 1.......................................     1.00 (10)     1.12 (10)
LMM 2.......................................     1.00 (10)     1.15 (10)
RMM 1.......................................     1.00 (10)     1.16 (10)
------------------------------------------------------------------------

 Order 1: Buy limit of 1.13 for 20 contacts with a price
protection instruction of 3 MPVs
 NBBO at time of arrival = 1.00 (50) x 1.10 (10)
 Order 1 is price protected at 1.13 (which is 1.10 + 3 MPV =
1.13)
     Order 1 trades 10 contracts with PLMM @ 1.10
     Liquidity Refresh Pause is triggered because the MBO of
1.10 was alone at NBBO and PLMM's 1.10 offer was exhausted
     MBBO 1.10 (10) x 1.12 (10)
     Liquidity Refresh message is broadcasted on the Exchange's
data feeds: Buy 10 contracts, exhausted MBO of 1.10
     Order 2: Buy limit of 1.12 for 10 contracts
     Liquidity Refresh Pause is terminated early upon the
arrival of Order 2 because Order 2 is at a price that would lock the
MBO of 1.12
     Order 1 trades 10 contracts with LMM1 @ 1.12. Order 1 gets
priority over Order 2 as Order 1 was the initiating order. Order 1 has
been fully executed and Order 2 is Booked
     New MBBO: 1.12 (10) x 1.15 (10)

Handling of Immediate-or-Cancel (IOC) Orders

    The Exchange also proposes amending Rule 515(e) to provide that
market participants may designate price protection instructions on an
order by order basis for IOC orders in the manner described in Rule
515(c)(1). Specifically, this includes: (i) Price protection
instructions being expressed in units of MPV away from the NBBO at the
time of the order's receipt, or the MBBO if the ABBO is crossing the
MBBO; (ii) the default price protection being one MPV away from the
NBBO at the time of receipt, or the MBBO if the ABBO is crossing the
MBBO; and (iii) market participants being able to elect to disable
price protection on an order by order basis. In addition, the Exchange

proposes that IOC orders would be allowed to trade at multiple prices
not to exceed the IOC order's limit price or the order's price
protection limit, provided the execution does not trade at a price
inferior to the current ABBO. This change is consistent with the new
price protection functionality described above which will allow orders
to trade at multiple price-points until an order's limit price or price
protection limit. The Exchange believes that market participants will
benefit from the change as such IOC orders will be able to access more
liquidity on the Exchange than current functionality that limits the
IOC order to just one price-point.

Handling of Fill-or-Kill (``FOK'') Orders

    The Exchange also proposes amending Rule 515(f) to provide that
market participants may designate price protection instructions on an
order by order basis for FOK orders in the manner described in Rule
515(c)(1). Specifically, this includes: (i) Price protection
instructions being expressed in units of MPV away from the NBBO at the
time of the order's receipt, or the MBBO if the ABBO is crossing the
MBBO; (ii) the default price protection being one MPV away from the
NBBO at the time of receipt, or the MBBO if the ABBO is crossing the
MBBO; and (iii) market participants being able to elect to disable
price protection on an order by order basis. In addition, the Exchange
proposes that if an FOK order is fully executable against orders and
quotes in the System and MIAX is at the NBBO when an FOK order is
received or reevaluated after the termination of a liquidity refresh
pause by the System, the System will execute the FOK order at the NBBO
price or better and if the FOK order could not be executed in full at a
single price, the FOK order is cancelled. If the MBBO is not at the
NBBO at the time the FOK order is received or reevaluated after the
termination of a liquidity refresh pause or the FOK order is not fully
executable against any orders or quotes in the System, the FOK order
will be immediately cancelled. Contracts remaining from an FOK order
will not be eligible for automatic resubmission as a new order for
Members who have instructed the Exchange in writing to re-enter
remaining contracts. The Exchange believes that market participants
will benefit from the change as such FOK orders will be provided with
an additional opportunity, after the termination of a liquidity refresh
pause, to access more liquidity on the Exchange than current
functionality that limits the FOK order to just one opportunity upon
receipt. The Exchange believes this necessary because an FOK order that
arrives during a liquidity refresh pause and causes the liquidity
refresh pause to terminate early may not be able to access the contra-
side liquidity because it was not the initiating order. However, the
FOK order may be able to execute with interest at the next price point
on the Exchange after the termination of the liquidity refresh pause.
    Finally, the Exchange proposes a technical modification to the
language of Rule 515(f). Specifically, the Exchange proposes deleting
the phrase ``contracts remaining from'' when discussing that FOK orders
will not be eligible for automatic resubmission. The proposed revisions
make it clear that the entirety of an FOK order is not eligible for
resubmission as there cannot actually be contracts remaining from an
FOK order, which by its definition will either be executed in its
entirety or cancelled and can never receive a partial execution.

Interpretation and Policy .02

    The Exchange proposes to add new Interpretation and Policy .02 to
Rule 515 to codify how the managed interest is priced when there are
multiple possible execution prices. Specifically, during the managed
interest process, if managed interest becomes tradable at multiple
price points on MIAX due to the ABBO transitioning from a crossed state
to an uncrossed state, the midpoint of the MBBO, rounded up to the
nearest MPV if necessary, will be used for the initial trade price. If
locking or crossing interest remains, the next trade occurs at the Book
price of the interest with lesser size. Trades will continue to occur
until (a) all locking or crossing interest has been satisfied, (b) the
ABBO is reached at which the interest will be managed according to
subparagraph (c)(1)(ii), (c) the order's limit price with any remaining
contracts being booked, or (d) the order's price protection limit at
which any remaining contracts being canceled. This provision regarding
midpoint pricing of the execution in this narrow scenario codifies
existing functionality during the managed interest process, while
updating the functionality to correspond with new price protection
functionality described above. The Exchange believes that using the
midpoint as the initial execution price in this situation promotes just
and equitable principals for trade among parties to the execution.

           Example 11: Midpoint Execution of Managed Interest
------------------------------------------------------------------------
                   Market                          Bid           Ask
------------------------------------------------------------------------
MIAX........................................     1.00 (10)     1.20 (10)
MKT 1.......................................     1.00 (10)     1.10 (10)
MKT 2.......................................     1.15 (10)     1.20 (10)
------------------------------------------------------------------------

 Order 1: Buy limit of 1.20 for 10 contacts with Do Not Route
instructions
     Order 1 cannot route to MKT1 because of its Do Not Route
instructions
     Order 1 will be placed on the MIAX Book @ 1.10, but
displayed in the MIAX Bid @ 1.09 as to not lock MKT1's 1.10 ask
 Updated MBBO 2: 1.09 (10) x 1.20 (10)
 Order 2: Sell limit of 1.11 for 10 contracts with Do Not Route
instructions
     Order 2 cannot route to MKT2 because of its Do Not Route
instructions
     Order 2 cannot trade with Order 1 because Order 1 has been
placed on the Book at a price of 1.10--which is both inferior to the
NBB of 1.15 and below Order 2's limit price of 1.11
     Order 2 will be placed on the MIAX Book @ 1.15, but
displayed in the MIAX Ask @ 1.16 as to not lock MKT2's 1.15 bid
 Updated MBBO 3: 1.09 (10) x 1.16 (10)
 MKT1 and MKT2 display new quotes that no longer cross:
     MKT 1: 1.00 (10) x 1.20 (10)
     MKT 2: 1.00 (10) x 1.20 (10)
 MBBO 3 (1.09 (10) x 1.16 (10)) now represents the NBBO
     Order 1 has been Booked at 1.10, but has an actual limit
price of 1.20
     Order 2 has been Booked at 1.15, but has an actual limit
price of 1.11
     Order 1's buy limit of 1.20 crosses Order 2's sell limit
of 1.11 and the two orders can trade an multiple price points--anywhere
from 1.11 up to 1.20
     Order 1 and Order 2 trade 10 contracts at 1.13, which
represents the midpoint of the MBBO (1.09 x 1.16 yields a 1.125
midpoint) rounded up to the nearest MPV (1.13)

Amendments to Rule 529

    Currently the Exchange does not route Public Orders once they are
resting on the book. The Exchange proposes to amend Rule 529 to provide
that Public Customer orders resting on the book will not initiate a
route timer, but may be routed with an incoming Public

Customer order that has initiated a Route Mechanism (``initiating
order''). Specifically, if at the time of receipt of the initiating
Public Customer order, the opposite side ABBO is also locking or
crossing the same side MBBO, the System will immediately route the
initiating Public Customer order, together with any routable interest
resting at the same side MBBO, to the opposite side ABBO. The
initiating Public Customer and any routable resting interest will be
processed in the order in which they were received. The Exchange
believes that this change will benefit Public Customers by allowing the
Public Customer order to immediately access marketable liquidity
available at an away market. The immediate routing of routable orders
in this instance will also benefit the greater options market system as
a whole, in that it may help to resolve undesirable crossed markets.

Technical Changes

    Consistent with changes described above, the Exchange proposes
deleting the current language in Rule 515(c) in whole to replace it
with the new provisions described above. The Exchange believes that the
language in current Rule 515(c) is repetitive and difficult to follow.
In choosing to replace it with the language of proposed Rule 515(c) the
Exchange hopes to produce a rule text sufficiently clear to provide
members with a better understanding of Exchange functionality.
    Additionally, the Exchange proposes technical amendments to
Exchange Rule 516(b)(3), and 516(g) and Interpretation and Policy .04
to Rule 520 to accommodate the proposed movement of the language
explaining the managed interest process from current Rule 515(c)(2) to
proposed Rule 515(c)(1)(ii).
    Because of the technology changes associated with this rule
proposal, the Exchange will announce the implementation date of the
proposal in a Regulatory Circular to be published no later than 30 days
after the publication of the approval order in the Federal Register.
The implementation date will be no later than 30 days following
publication of the Regulatory Circular announcing publication of the
approval order in the Federal Register.
2. Statutory Basis
    MIAX believes that its proposed rule change is consistent with
Section 6(b) of the Act \21\ in general, and furthers the objectives of
Section 6(b)(5) of the Act \22\ in particular, in that it is designed
to prevent fraudulent and manipulative acts and practices, to promote
just and equitable principles of trade, to foster cooperation and
coordination with persons engaged in facilitating transactions in
securities, to remove impediments to and perfect the mechanisms of a
free and open market and a national market system and, in general, to
protect investors and the public interest.
---------------------------------------------------------------------------

    \21\ 15 U.S.C. 78f(b).
    \22\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    Specifically, the Exchange believes the proposed price protection
functionality will remove impediments to and perfect the mechanism of a
free and open market by providing members with greater flexibility and
control over how orders interact with liquidity both on the Exchange
and, if routable, on away markets. Instead of imposing a rigid one-
size-fits-all price protection mechanism, the proposed functionality
allows for customization and choice on the part of a member entering a
non-Market Maker order. As proposed, the member can select how many
price points beyond the NBBO at the time of the order's receipt the
member would like the order to trade. This opens up the possibility of
orders to trade on the Exchange and route to away markets at multiple
price-points, instead of the more restrictive current maximum of two
price-points. This proposal allows market participants to access
greater liquidity both on the Exchange, thus benefiting Exchange
members, and on away markets, thus benefiting the options market as a
whole.
    The Exchange believes that proposed changes to Rules 515,
specifically the handlings of routable and non-routable orders
addressed in this filing, are consistent with the stated goals of and
necessary to achieve the proposed expansion of the price protection
functionality. Allowing routable and non-routable orders to be
reevaluated and trade at multiple price points will allow such orders
to access greater liquidity and improve the mechanism of price
discovery. Allowing routable orders to be routed away at multiple price
points will benefit the options market as a whole as this will improve
the chances of market participants at these other options exchanges of
receiving an execution. This too will help improve the mechanism of
price discovery.
    The Exchange believes that the proposed changes to the Liquidity
Refresh Pause mechanism addressed in this filing are consistent with
the stated goals of and necessary to achieve the proposed expansion of
the price protection functionality. Allowing the liquidity refresh
pause mechanism to apply at multiple price points will help promote a
fair and orderly market as the liquidity refresh pause allows MIAX
participants to add liquidity and price stabilization. Allowing MIAX to
display ``the exhausted MBBO'' in the liquidity refresh pause message
will better inform MIAX participants regarding the price at which to
supply additional liquidity and is necessary given a liquidity refresh
pause mechanism that can apply at multiple price-points beyond ``the
original NBBO.'' The Exchange believes that the change regarding
terminating a liquidity refresh pause when a new quote or order is
received during a Liquidity Refresh Pause on the same side of the
market as the initiating order's remaining contracts that locks or
crosses the original NBBO will protect the opposite side interest by
allowing the opposite side interest to receive an execution.
    The Exchange believes that permitting IOC orders to execute at
multiple price-points removes a market impediment as this change will
allow IOC orders to access additional liquidity on the Exchange, thus
benefiting both the sender of the IOC and the members providing the
additional liquidity.
    The Exchange believes that permitting FOK orders the additional
opportunity for an execution after causing a liquidity refresh pause to
terminate early will allow FOK orders to access additional liquidity on
the Exchange, thus benefiting both the sender of the FOK and the
members providing the additional liquidity.
    Finally, the Exchange believes that its proposed modifications to
its Immediate Routing mechanism remove impediments to and perfect the
mechanisms of a free and open market and a national market system and,
in general, to protect investors and the public interest by allowing
the Public Customer order to immediately access marketable liquidity
available at an away market in a manner that may help to resolve
undesirable crossed markets.

 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 notes that it
operates in a highly competitive market in which market participants
can readily direct order flow to competing venues who offer similar
functionality. As to inter-market competition, the Exchange notes
proposed price protection functionality will benefit competing
exchanges because routable orders will be eligible

to route to away markets at multiple price-points instead of just the
NBBO at the time of the receipt of the order. As to intra-market
competition, the Exchange believes the proposal to be fair as it
preserves price protection functionality for non-Market Maker orders.
Market Maker orders and quotes have their own distinct functionality,
which already includes the ability to trade at multiple price-points.

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

    Written comments were neither solicited nor received.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date 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_ADDRESS>Please include
File Number SR-MIAX-2014-08 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-MIAX-2014-08. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make publicly available. All
submissions should refer to File Number SR-MIAX-2014-08 and should be
submitted on or before March 27, 2014.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\23\
---------------------------------------------------------------------------

    \23\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-04920 Filed 3-5-14; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 83, Number 207 (Thursday, October 25, 2018)]
[Rules and Regulations]
[Pages 53802-53806]
[FR Doc No: 2018-23186]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2017-1138; Product Identifier 2017-NE-41-AD; Amendment
39-19381; AD 2018-18-02]
RIN 2120-AA64

Airworthiness Directives; Austro Engine GmbH Engines

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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

SUMMARY: We are adopting a new airworthiness directive (AD) for certain
Austro Engine GmbH model E4 engines and for all model E4P engines. This
AD was prompted by reports of considerable wear on the timing chain on
these engines. This AD requires replacement of the timing chain and
amending certain airplane flight manuals to limit the use of windmill
restarts. We are issuing this AD to address the unsafe condition on
these products.

DATES: This AD is effective November 29, 2018.
    The Director of the Federal Register approved the incorporation by
reference of certain publications listed in this AD as of November 29,
2018.

ADDRESSES: For Austro Engine GmbH service information identified in
this final rule, contact Austro Engine GmbH, Rudolf-Diesel-Strasse 11,
A-2700 Weiner Neustadt, Austria; phone +43 2622 23000; fax: +43 2622
23000-2711; internet: www.austroengine.at. For Diamond Aircraft
Industries service information in this final rule, contact Diamond
Aircraft Industries, N. A., Otto-Stra[szlig]e 5, A-2700 Wiener
Neustadt, phone: +43 2622 26700, Fax: +43 2622 26780; internet:
www.diamondaircraft.com. You may view this service information at the
FAA, Engine and Propeller Standards Branch, 1200 District Avenue,
Burlington, MA 01803. For information on the availability of this
material at the FAA, call<PHONE_NUMBER>. It is also available on the
internet at http://www.regulations.gov by searching for and locating
Docket No. FAA-2017-1138.

Examining the AD Docket

    You may examine the AD docket on the internet at http://www.regulations.gov by searching for and locating Docket No. FAA-2017-
1138; or in person at Docket Operations between 9 a.m. and 5 p.m.,
Monday through Friday, except Federal holidays. The AD docket contains
this final rule, the mandatory continuing airworthiness information,
the regulatory evaluation, any comments received, and other
information. The address for Docket Operations (phone:<PHONE_NUMBER>) 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: Barbara Caufield, Aerospace Engineer,
ECO Branch, FAA, 1200 District Avenue, Burlington, MA, 01803; phone:
781-238-7146; fax:<PHONE_NUMBER>; email: [email protected].

SUPPLEMENTARY INFORMATION:

Discussion

    We issued a notice of proposed rulemaking (NPRM) to amend 14 CFR
part 39 by adding an AD that would apply to certain Austro Engine GmbH
model E4 engines and all model E4P engines. The NPRM published in the
Federal Register on June 1, 2018 (83 FR 25410). The NPRM was prompted
by reports of considerable wear on the timing chain on these engines.
The NPRM proposed to require replacement of the timing chain and
amending certain airplane flight manuals to limit the use of windmill
restarts. We are issuing this AD to address the unsafe condition on
these products.
    The European Aviation Safety Agency (EASA), which is the Technical
Agent for the Member States of the European Community, has issued EASA
AD 2017-0103, dated June 14, 2017 (referred to after this as ``the
MCAI''), to address the unsafe condition on these products.
    The MCAI states:

    Considerable wear of the timing chain has been detected on some
engines. This may have been caused by windmilling restarts, which
are known to cause high stress to the timing chain. This condition,
if not detected and corrected, could lead to failure of the timing
chain and consequent engine power loss, possibly resulting in
reduced control of the aeroplane.
    To address this potential unsafe condition, Austro Engine
included instructions in the engine maintenance manual to
periodically inspect the condition of the timing chain and,
depending on findings, to replace the timing chain and the chain
wheel. The operation manual was updated to allow windmilling restart
only as an emergency procedure.
    More recently, Austro Engines published Mandatory Service
Bulletin (MSB) MSB-E4-017/2, providing instructions to replace the
timing chain for engines with known windmilling restarts. For the
reason described above, this [EASA] AD requires replacement of the
timing chain for engines with known windmilling restarts, and
requires amendment of the applicable Aircraft Flight Manual (AFM).

    You may obtain further information by examining the MCAI in the AD
docket on the internet at http://www.regulations.gov by searching for
and locating Docket No. FAA-2017-1138.

Revision to Airplane Flight Manual

    We revised this AD to allow affected Austro Engine GmbH model E4
engines installed on Diamond Aircraft Industries (DAI) model DA 42 NG
and DA 42 M-NG airplanes and Austro Engine GbmH model E4P engines
installed on DAI model DA 62 airplanes to comply with paragraph (g)(4)
of this AD by adding, respectively, Airplane Flight Manual (AFM)
Temporary Revision (TR) TR-M[Auml]M-42-973, and AFM TR TR-M[Auml]M-62-
240, both dated August 12, 2016. These actions are equivalent to
inserting the information in figure (1) to paragraph (g)(4) of this AD
into the respective airplane flight manuals.

Comments

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

Conclusion

    We reviewed the relevant data and determined that air safety and
the public interest require adopting this final rule as proposed.

Related Service Information Under 1 CFR Part 51

    We reviewed Austro Engine MSB No. MSB-E4-017/2, Revision 2, dated
December 2, 2016. The MSB describes procedures for replacement of the
timing chain.
    We reviewed AFM TR TR-M[Auml]M-42-973, dated August 12, 2016, for
DA 42 NG and DA 42 M-NG airplanes, and AFM TR TR- M[Auml]M-62-240,
dated August 12, 2016, for DA 62 airplanes. These Temporary Revisions
define the removal of the normal operation procedure for windmilling
restart for the respective airplanes. This service information is
reasonably available because the interested parties have access to it
through their normal course of business or by the means identified in
the ADDRESSES section.

Costs of Compliance

    We estimate that this AD affects 211 engines installed on airplanes
of U.S. registry. We estimate the following costs to comply with this
AD:

                                                Estimated Costs.
----------------------------------------------------------------------------------------------------------------
                                                                                Cost per      Cost on U.S.
                Action                         Labor cost           Parts cost        product        operators
----------------------------------------------------------------------------------------------------------------
Amend AFM.............................  1 work hour x $85 per                 $0             $85         $17,935
Remove and replace timing chain.......   hour = $85.                        $775          $1,455        $307,005
                                        8 work hours x $85 per
                                         hour = $680.
----------------------------------------------------------------------------------------------------------------

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.
    We are 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.
    This AD is issued in accordance with authority delegated by the
Executive Director, Aircraft Certification Service, as authorized by
FAA Order 8000.51C. In accordance with that order, issuance of ADs is
normally a function of the Compliance and Airworthiness Division, but
during this transition period, the Executive Director has delegated the
authority to issue ADs applicable to engines, propellers, and
associated appliances to the Manager, Engine and Propeller Standards
Branch, Policy and Innovation Division.

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) Is not a ``significant rule'' under DOT Regulatory Policies and
Procedures (44 FR 11034, February 26, 1979),
    (3) Will not affect intrastate aviation in Alaska, and
    (4) 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.

Adoption of 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 (AD):

AD 2018-18-02; Austro Engine GmbH Engines: Amendment 39-19381;
Docket No. FAA-2017-1138; Product Identifier 2017-NE-41-AD.

(a) Effective Date

    This AD is effective November 29, 2018.

(b) Affected Ads

    None.

(c) Applicability

    This AD applies to Austro Engine GmbH model E4 engines with
serial numbers that have a ``-B'' or ``-C'' configuration and to
model E4P engines, all serial numbers.

(d) Subject

    Joint Aircraft System Component (JASC) Code 8520, Reciprocating
Engine Power Section.

(e) Unsafe Condition

    This AD was prompted by reports of considerable wear on the
timing chain on these engines. We are issuing this AD to prevent
failure of the engine timing chain. The unsafe condition, if not
addressed, could result in failure of the engine timing chain, loss
of engine thrust control, and reduced control of the airplane.

(f) Compliance

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

(g) Required Actions

    (1) Determine whether the engine is a Group 1 or Group 2 engine
as follows.
    (i) A Group 1 engine is an engine equipped with a timing chain
that was installed on an engine that experienced a windmill restart,
or an engine in which it cannot be determined if the engine
experienced any windmilling restarts.
    (ii) A Group 2 engine is an engine that is equipped with a
timing chain that has not experienced any windmilling restarts.
    (2) For Group 1 engines: Before the affected timing chain
exceeds 945 engine flight hours (EFHs) since installation on an
engine, or within 110 EFHs after the effective date of this AD,
whichever occurs later, replace the timing chain in accordance with
the instructions in Technical Details, paragraph 2, in Austro Engine
Mandatory Service Bulletin (MSB) No. MSB-E4-017/2, Revision 2, dated
December 2, 2016.
    (3) For Group 1 and Group 2 engines: After the effective date of
this AD, following each windmill restart of an engine, before the
timing chain of that engine exceeds 945 EFHs since first
installation on an engine, or within 110 EFHs after that windmilling
restart, whichever occurs later, replace the timing chain in
accordance with the instructions in Technical Details, paragraph 2,
in Austro Engine MSB No. MSB-E4-017/2, Revision 2, dated December 2,
2016.
    (4) For Group 1 and Group 2 engines: Within 30 days after the
effective date of this AD, amend the applicable airplane flight
manual under emergency procedures by adding the information in
figure 1 to paragraph (g)(4) of this AD to limit the use of a
windmilling restart to only an emergency procedure.

[GRAPHIC] [TIFF OMITTED] TR25OC18.000

    (5) For affected Austro Engine GmbH model E4 engines installed
on Diamond Aircraft Industries (DAI) model DA 42 NG and DA 42 M-NG
airplanes and for Austro Engine GbmH model E4P engines installed on
DAI model DA 62 airplanes, using Airplane Flight Manual (AFM)
Temporary Revision (TR) TR-M[Auml]M-42-973, and AFM TR TR-M[Auml]M-
62-240, both dated August 12, 2016, respectively, to update the
applicable AFM is an acceptable method to comply with paragraph
(g)(4) of this AD.

(h) Alternative Methods of Compliance (AMOCs)

    (1) The manager, ECO 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
ECO Branch, send it to the attention of the person identified in
paragraph (i)(1) of this AD. You may email your request 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 or certificate holding
district office.

(i) Related Information

    (1) For more information about this AD, contact Barbara
Caufield, Aerospace Engineer, ECO Branch, FAA, 1200 District Avenue,
Burlington, MA 01803; phone:<PHONE_NUMBER>; fax:<PHONE_NUMBER>; email:
[email protected].
    (2) Refer to EASA AD 2017-0103, dated June 14, 2017, for more
information. You may examine the EASA AD in the AD docket on the
internet at http://www.regulations.gov by searching for and locating
it in Docket No. FAA-2017-1138.

(j) 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 the AD specifies otherwise.
    (i) Austro Engine Mandatory Service Bulletin No. MSB-E4-017/2,
Revision 2, dated December 2, 2016.
    (ii) Diamond Aircraft Airplane Flight Manual (AFM) Temporary
Revision (TR) TR-M[Auml]M-42-973, dated August 12, 2016.
    (iii) Diamond Aircraft AFM TR TR-M[Auml]M-62-240, dated August
12, 2016.
    (3) For Austro Engine GmbH service information identified in
this AD, contact Austro Engine GmbH, Rudolf-Diesel-Strasse 11, A-
2700 Weiner Neustadt, Austria; phone +43 2622 23000; fax: +43 2622
23000-2711; internet: www.austroengine.at. For Diamond Aircraft
Industries service information in this AD, contact Diamond Aircraft
Industries, N. A., Otto-Stra[szlig]e 5, A-2700 Wiener Neustadt,
phone: +43 2622 26700, Fax: +43 2622 26780; internet:
www.diamondaircraft.com.
    (4) You may view this service information at FAA, Engine and
Propeller Standards Branch, 1200 District Avenue, Burlington, MA
01803. For information on the availability of this material at the
FAA, call<PHONE_NUMBER>.
    (5) You may view this service information that is incorporated
by reference at the National Archives and Records Administration
(NARA). For information on the availability of this material at
NARA, call<PHONE_NUMBER>, or go to: http://www.archives.gov/federal-register/cfr/ibr-locations.html.

    Issued in Burlington, Massachusetts, on October 19, 2018.
Karen M. Grant,
Acting Manager, Engine and Propeller Standards Branch, Aircraft
Certification Service.
[FR Doc. 2018-23186 Filed 10-24-18; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register: October 27, 2010 (Volume 75, Number 207)]
[Notices]
[Page 66185-66186]
[DOCID:fr27oc10-127]

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DEPARTMENT OF TRANSPORTATION

Pipeline and Hazardous Materials Safety Administration

[Docket No. PHMSA-2010-0178 (Notice No. 10-8)]

Information Collection Activities

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

ACTION: Notice and request for comments.

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

SUMMARY: In compliance with the Paperwork Reduction Act of 1995, this
notice announces that the Information Collection Requests (ICR)
abstracted below will be forwarded to the Office of Management and
Budget (OMB) for review and comments. The ICRs describe the nature of
the information collections and their expected burden. A Federal
Register Notice with a 60-day comment period soliciting comments on
these collections of information was published in the Federal Register
on August 20, 2010 [75 FR 51520] under Docket No. PHMS-2010-0178
(Notice No. 10-3).

DATES: Interested persons are invited to submit comments on or before
November 26, 2010.

ADDRESSES: Send comments regarding the burden estimate, including
suggestions for reducing the burden, to the Office of Management and
Budget (OMB), Attention: Desk Officer for PHMSA, 725 17th Street, NW.,
Washington, DC 20503. Comments are invited on: Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Department, including whether the information will
have practical utility; the accuracy of the Department's estimate of
the burden of the proposed information collection; ways to enhance the
quality, utility and clarity of the information to be collected; and
ways to minimize the burden of the collection of information on
respondents, including the use of automated collection techniques or
other forms of information technology. A comment to OMB is most
effective if OMB receives it within 30 days of publication.

FOR FURTHER INFORMATION CONTACT: Deborah Boothe or Steven Andrews, U.S.
Department of Transportation, Office of Hazardous Materials Standards
(PHH-10), Pipeline and Hazardous Materials Safety Administration, 1200
New Jersey Avenue, SE., East Building, 2nd Floor, Washington, DC 20590-
0001, Telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Section 1320.8(d), Title 5, Code of Federal
Regulations requires Federal agencies to provide interested members of
the public and affected agencies an opportunity to comment on
information collection and recordkeeping requests. This notice
identifies information collection requests that PHMSA will be
submitting to OMB for renewal and extension. These information
collections are contained in 49 CFR parts 171, 173, 178, and 180, of
Hazardous Materials Regulations (HMR; 49 CFR parts 171-180). PHMSA has
revised burden estimates, where appropriate, to reflect current
reporting levels or adjustments based on changes in proposed or final
rules published since the information collections were last approved.
The following information is provided for each information collection:
(1) Title of the information collection, including former title if a
change is being made; (2) OMB control number; (3) abstract of the
information collection activity; (4) description of affected persons;
(5) estimate of total annual reporting and recordkeeping burden; and
(6) frequency of collection. PHMSA will request a three-year term of
approval for each information collection activity and, when approved by
OMB, publish notice of the approval in the Federal Register.
    PHMSA requests comments on the following information collections:

    Title: Inspection and Testing of Portable Tanks and Intermediate
Bulk Containers.

    OMB Control Number: 2137-0018.
    Summary: This information collection consolidates provisions for
documenting qualifications, inspections, tests and approvals pertaining
to the manufacture and use of portable tanks and intermediate bulk
containers under various provisions of the HMR. It is necessary to
ascertain whether portable tanks and intermediate bulk containers have
been qualified, inspected, and retested in accordance with the HMR. The
information is used to verify that certain portable tanks and
intermediate bulk containers meet required performance standards prior
to their being authorized for use, and to document periodic
requalification and testing to ensure the packagings have not
deteriorated due to age or physical abuse to a degree that would render
them unsafe for the transportation of hazardous materials.
    Affected Public: Manufacturers and owners of portable tanks and
intermediate bulk containers.
    Annual Reporting and Recordkeeping Burden:
    Number of Respondents: 8,770.
    Total Annual Responses: 86,100.
    Total Annual Burden Hours: 66,390.
    Frequency of collection: On occasion.

    Title: Hazardous Materials Incident Reports.
    OMB Control Number: 2137-0039.
    Summary: This collection is applicable upon occurrence of incidents
as prescribed in Sec. Sec.  171.15, 171.16 and 171.21 of the HMR. A
Hazardous Materials Incident Report, DOT Form F 5800.1, must be
completed by a person in physical possession of a hazardous material at
the time a hazardous material incident occurs in transportation, such
as a release of materials, serious accident, evacuation or closure of a
main artery. Incidents meeting criteria in Sec.  171.15 also require a
telephonic report. This information collection enhances the
Department's ability to evaluate the effectiveness of its regulatory
program, determine the need for regulatory changes, and address
emerging hazardous materials transportation safety issues. The
requirements apply to all interstate and intrastate carriers engaged in
the transportation of hazardous materials by rail, air, water, and
highway.
    Affected Public: Shippers and carriers of hazardous materials.
    Annual Reporting and Recordkeeping Burden:
    Number of Respondents: 1,678.
    Total Annual Responses: 16,768.
    Total Annual Burden Hours: 23,037.
    Frequency of collection: On occasion.

    Title: Cargo Tank Motor Vehicles in Liquefied Compressed Gas
Service.
    OMB Control Number: 2137-0595.
    Summary: These information collection and recordkeeping
requirements pertain to the manufacture, certification, inspection,
repair, maintenance, and operation of certain DOT specification and
non-specification cargo tank motor vehicles used to transport liquefied
compressed gases. These requirements are intended to ensure cargo tank
motor vehicles used to transport liquefied compressed gases are
operated safely, and to minimize the potential for catastrophic
releases during unloading and loading operations. They include: (1)
Requirements for operators of cargo tank motor vehicles in liquefied
compressed gas service to develop operating procedures applicable to
unloading operations and carry the operating procedures on each
vehicle; (2) inspection, maintenance, marking, and testing requirements
for the cargo tank discharge system, including delivery hose
assemblies; and (3) requirements for emergency discharge control
equipment on certain cargo tank motor vehicles transporting liquefied
compressed gases that must be installed and certified by a Registered
Inspector.
    Affected Public: Carriers in liquefied compressed gas service,
manufacturers and repairers.
    Annual Reporting and Recordkeeping Burden:
    Number of Respondents: 6,958.
    Total Annual Responses: 920,538.
    Total Annual Burden Hours: 200,914.
    Frequency of collection: On occasion.

    Issued in Washington, DC on October 21, 2010.
Charles E. Betts,
Acting Director, Office of Hazardous Materials Standards.
[FR Doc. 2010-27151 Filed 10-26-10; 8:45 am]
BILLING CODE 4910-60-P


[Federal Register Volume 86, Number 129 (Friday, July 9, 2021)]
[Notices]
[Pages 36276-36277]
[FR Doc No: 2021-14664]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #2

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

    Docket Numbers: ER10-2136-017.
    Applicants: Invenergy Cannon Falls LLC.
    Description: Triennial Market Power Analysis for Central Region of
Invenergy Cannon Falls LLC.
    Filed Date: 6/30/21.
    Accession Number: 20210630-5347.
    Comments Due: 5 p.m. ET 8/30/21.

    Docket Numbers: ER10-2417-004; ER13-122-004.
    Applicants: ExxonMobil Baton Rouge Complex, ExxonMobil Beaumont
Complex.
    Description: Triennial Market Power Analysis for Central Region of
ExxonMobil Baton Rouge Complex, et al.
    Filed Date: 6/30/21.
    Accession Number: 20210630-5352.
    Comments Due: 5 p.m. ET 8/30/21.

    Docket Numbers: ER10-2421-007; ER10-2616-021; ER10-3247-014; ER11-
2457-007; ER11-4398-009; ER11-4400-017; ER12-2250-008; ER12-2251-008;
ER12-2252-009; ER12-2253-008; ER14-1569-014; ER14-2245-008; ER14-883-
015; ER14-922-007; ER14-924-007; ER15-1161-001; ER15-1596-014; ER15-
1599-014; ER15-2535-004; ER19-102-007; ER19-158-009; ER19-2608-001;
ER19-2803-006; ER19-2806-006; ER19-2807-006; ER19-2809-006; ER19-2810-
006; ER19-2811-006.
    Applicants: Energy Services Providers, Inc., Ambit Northeast, LLC,
Cincinnati Bell Energy LLC, Connecticut Gas & Electric, Inc., Dynegy
Energy Services, LLC, Dynegy Energy Services (East), LLC, Dynegy
Marketing and Trade, LLC, Dynegy Midwest Generation, LLC, Dynegy Power
Marketing, LLC, Electric Energy, Inc., Energy Rewards, LLC, Everyday
Energy NJ, LLC, Everyday Energy, LLC, Illinois Power Generating
Company, Illinois Power Marketing Company, Illinois Power Resources
Generating, LLC, Luminant Commercial Asset Management LLC, Luminant
Energy Company LLC, Massachusetts Gas &

Electric, Inc., Midwest Electric Power, Inc., Public Power & Utility of
Maryland, LLC, Public Power & Utility of NY, Inc, Public Power, LLC,
Public Power, LLC (PA), TriEagle Energy, LP, Viridian Energy, LLC,
Viridian Energy NY, LLC, Viridian Energy PA, LLC.
    Description: Triennial Market Power Analysis for Central Region of
Energy Services Providers, Inc, et al.
    Filed Date: 6/29/21.
    Accession Number: 20210629-5274.
    Comments Due: 5 p.m. ET 8/30/21.

    Docket Numbers: ER11-2105-005.
    Applicants: Oklahoma Gas and Electric Company.
    Description: Triennial Market Power Analysis for Southwest Power
Pool, Inc. Region of Oklahoma Gas and Electric Company.
    Filed Date: 6/30/21.
    Accession Number: 20210630-5354.
    Comments Due: 5 p.m. ET 8/30/21.

    Docket Numbers: ER11-4044-026.
    Applicants: Gratiot County Wind LLC.
    Description: Triennial Market Power Analysis for Central Region of
Gratiot County Wind LLC.
    Filed Date: 6/30/21.
    Accession Number: 20210630-5348.
    Comments Due: 5 p.m. ET 8/30/21.

    Docket Numbers: ER11-4046-025.
    Applicants: Gratiot County Wind II LLC.
    Description: Triennial Market Power Analysis for Central Region of
Gratiot County Wind II LLC.
    Filed Date: 6/30/21.
    Accession Number: 20210630-5349.
    Comments Due: 5 p.m. ET 8/30/21.

    Docket Numbers: ER11-4267-017; ER11-113-013; ER11-4694-009; ER12-
1680-010; ER17-2084-003; ER20-967-001; ER21-44-003.
    Applicants: Algonquin Energy Services Inc., Altavista Solar, LLC,
GSG 6, LLC, Sandy Ridge Wind, LLC, Minonk Wind, LLC, Great Bay Solar I,
LLC, Great Bay Solar II, LLC.
    Description: Notice of Non-Material Change in Status of Algonquin
Energy Services Inc., et al.
    Filed Date: 6/30/21.
    Accession Number: 20210630-5355.
    Comments Due: 5 p.m. ET 7/21/21.

    Docket Numbers: ER16-1720-018.
    Applicants: Invenergy Energy Management LLC.
    Description: Triennial Market Power Analysis for Central Region of
Invenergy Energy Management LLC.
    Filed Date: 6/30/21.
    Accession Number: 20210630-5350.
    Comments Due: 5 p.m. ET 8/30/21.

    Docket Numbers: ER16-2320-009.
    Applicants: Pacific Gas and Electric Company.
    Description: Compliance filing: TO18 Tax Act Compliance Filing to
be effective N/A.
    Filed Date: 7/2/21.
    Accession Number: 20210702-5061.
    Comments Due: 5 p.m. ET 7/23/21.

    Docket Numbers: ER16-2703-005; ER10-2738-011; ER11-4267-016; ER15-
2631-008; ER20-2379-003.
    Applicants: Deerfield Wind Energy, LLC, Odell Wind Farm, LLC, The
Empire District Electric Company, Algonquin Energy Services Inc., Sugar
Creek Wind One LLC.
    Description: Triennial Market Power Analysis for Central Region of
Deerfield Wind Energy, LLC, et al.
    Filed Date: 6/30/21.
    Accession Number: 20210630-5351.
    Comments Due: 5 p.m. ET 8/30/21.

    Docket Numbers: ER20-2004-001.
    Applicants: Public Service Electric and Gas Company, PJM
Interconnection, L.L.C.
    Description: Compliance filing: PSEG submits Order 864 Compliance
Filing re: Deficiency Letter to be effective N/A.
    Filed Date: 7/2/21.
    Accession Number: 20210702-5008.
    Comments Due: 5 p.m. ET 7/23/21.

    Docket Numbers: ER21-1660-000.
    Applicants: Arizona Public Service Company.
    Description: Report Filing: Service Agreement No. 363--Refund
Report to be effective N/A.
    Filed Date: 7/2/21.
    Accession Number: 20210702-5058.
    Comments Due: 5 p.m. ET 7/23/21.

    Docket Numbers: ER21-2343-000.
    Applicants: Guzman Energy LLC.
    Description: Petition for Limited Waiver of Guzman Energy LLC.
    Filed Date: 7/1/21.
    Accession Number: 20210701-5316.
    Comments Due: 5 p.m. ET 7/16/21.

    Docket Numbers: ER21-2346-000.
    Applicants: Bellingham Power Generation LLC.
    Description: Compliance filing: Notices of Succession and Revisions
to Tariffs Refiling under ER21-1894 to be effective 4/16/2021.
    Filed Date: 7/2/21.
    Accession Number: 20210702-5032.
    Comments Due: 5 p.m. ET 7/23/21.

    Docket Numbers: ER21-2347-000.
    Applicants: Blackstone Power Generation LLC.
    Description: Compliance filing: Notices of Succession and Revisions
to Tariffs Refiling under ER21-1895 to be effective 4/16/2021.
    Filed Date: 7/2/21.
    Accession Number: 20210702-5035.
    Comments Due: 5 p.m. ET 7/23/21.

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

    Dated: July 2, 2021.
Debbie-Anne A. Reese,
Deputy Secretary.
[FR Doc. 2021-14664 Filed 7-8-21; 8:45 am]
BILLING CODE 6717-01-P