[Federal Register Volume 78, Number 190 (Tuesday, October 1, 2013)]
[Notices]
[Pages 60352-60356]
[FR Doc No: 2013-23903]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-70505; File No. SR-MIAX-2013-44]

Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of a Proposed Rule Change by Miami International
Securities Exchange LLC To Amend Exchange Rule 604 in Connection With
Market Maker Continuous Quoting Obligations

September 25, 2013.
    Pursuant to the provisions of Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice
is hereby given that on September 17, 2013, Miami International
Securities Exchange LLC (``MIAX'' or ``Exchange'') filed with the
Securities and Exchange Commission (``Commission'') a proposed rule
change as described in Items I and II below, which Items have been
prepared by the Exchange. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange is filing a proposal to amend Rule 604 in connection
with Market Maker continuous quoting obligations.
    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 Rule 604 to exclude intra-day add-on
series (``Intra-day Adds'') from the Market Makers' continuous quoting
obligations on the day such series are added for trading. Additionally,
the proposed rule change clarifies in the Interpretations and Policies
to Rule 604 that: (1) Lead Market Makers (``LMMs'') \3\ may still
receive directed orders and participation entitlements in all Intra-day
Adds on the day such series are added for trading provided the LMM is
quoting the Intra-day Add and meets all other directed order and
participation entitlement requirements set forth in Rules 514(h) and
(i); and (2) Primary Lead Market Makers (``PLMMs'') \4\ may still
receive participation entitlements in all Intra-day Adds on the day
such series are added for trading provided the PLMM is quoting the
Intra-day Add and meets all other participation entitlement
requirements set forth in Rules 514(g) and (i). The proposal is based
on the recently approved change by Chicago Board Options Exchange,
Incorporated (``CBOE'').\5\
---------------------------------------------------------------------------

    \3\ Exchange Rule 100 defines a Lead Market Maker as a Member
registered with the Exchange for the purpose of making markets in
securities traded on the Exchange and that is vested with the rights
and responsibilities specified in Chapter VI of these Rules with
respect to Lead Market Makers. When a Lead Market Maker is appointed
to act in the capacity of a Primary Lead Market Maker, the
additional rights and responsibilities of a Primary Lead Market
Maker specified in Chapter VI of these Rules will apply.
    \4\ Exchange Rule 100 defines a Primary Lead Market Maker as a
Lead Market Maker appointed by the Exchange to act as the Primary
Lead Market Maker for the purpose of making markets in securities
traded on the Exchange. The Primary Lead Market Maker is vested with
the rights and responsibilities specified in Chapter VI of these
Rules with respect to Primary Lead Market Makers.
    \5\ See Securities Exchange Act Release Nos. 69338 (April 8,
2013), 78 FR 21981 (April 12, 2013) (SR-CBOE-2013-019) (Order
approving); 68944 (February 15, 2013), 78 FR 12377 (February 22,
2013) (SR-CBOE-2013-019).
---------------------------------------------------------------------------

    Intra-day Adds are series that can be added to the System after the
opening of trading on the Exchange. These series may be added at any
time during the trading day and differ from other newly added series,
which are added prior to the opening of trading. In the event a series
is added after the opening of trading, the Exchange will disseminate

a Listings Alert to Members and anyone else subscribing to MIAX notices
and publications advising that a new series has been listed. Listing
Alerts are also publically available on the Exchange's Web site. Any
Market Maker with an appointment in the class in which the series is
added will be permitted to quote in the new series.
    Currently, Exchange Rule 604 imposes certain obligations on Market
Makers, including obligations to provide continuous quotes.
Specifically, Rule 604(e)(1) requires a PLMM to provide continuous two-
sided quotes (i.e., 90% of the time) in the lesser of 99% of the non-
adjusted option series, or 100% of the non-adjusted option series minus
one put-call pair, in each class in which the PLMM is assigned. Rule
604(e)(2) requires an LMM to provide continuous two-sided quotes (i.e.,
90% of the time) in at least 90% of the non-adjusted option series in
each of the LMM's appointed classes. And, Rule 604(e)(3) requires a
Registered Market Maker (``RMM'') \6\ to provide continuous two-sided
quotes throughout the trading day (i.e., 90% of the time) in 60% of the
non-adjusted series that have a time to expiration of less than nine
months in each of the RMM's appointed classes. The proposed rule change
seeks to exclude Intra-day Adds from these continuous quoting
obligations.
---------------------------------------------------------------------------

    \6\ Exchange Rule 100 defines a Registered Market Maker as a
Member registered with the Exchange for the purpose of making
markets in securities traded on the Exchange, who is not a Lead
Market Maker and is vested with the rights and responsibilities
specified in Chapter VI of these Rules with respect to Registered
Market Makers.
---------------------------------------------------------------------------

    In order to comply with their continuous quoting obligations,
Market Makers have automated quoting systems in place that use complex
calculations based on a variety of market factors to compute quotes in
their appointed classes and transmit these quotes to the Exchange's
trading System. The Market Maker quoting system computations also
factor in their market risk models. It is the Exchange's understanding
that for some Market Makers their quoting systems will not
automatically produce continuous quotes in Intra-day Adds on the
trading day during which those series are added. These Market Makers
have indicated that the only way they could quote in series on the
trading day during which they are added would be to completely shut
down and restart their systems. As a result, the Exchange further
understands that several Market Makers would not be able to quote
Intra-day Adds during the trading day on which such series are added
(although the Market Makers generally would be able to quote these
series upon the opening of the next trading day, assuming those series
continue to be listed on the Exchange). The required work on Market
Makers' systems to allow them to quote Intra-day Adds, would be
significant and costly.
    The inability to quote Intra-day Adds makes it extremely difficult
for Market Makers to comply with their obligation to quote in a
substantial percentage of series in their appointed classes during a
trading day on which Intra-day Adds are added in those classes. For
example, if there are 1,000 series listed in an LMM's appointed class
and the LMM is quoting in 900 of these series, the LMM is in compliance
with the current minimum requirement to quote in 90% of series in its
appointed class (assuming the LMM quotes in this number of series 90%
of the trading day). However, if an Intra-day Add is added in the LMM's
appointed class during the trading day, and the LMM's system does not
automatically quote in this series, then the LMM would not comply, as
it would be quoting in 900 of 1,001 series. This noncompliance would be
compounded if more than one Intra-day Add is listed in a class during
the same trading day. Further, if in an effort to be in compliance,
Market Makers turned their systems off to quote in Intra-day Adds on
the trading day during which those series are added, then the Market
Makers could satisfy the standard to quote in a minimum percentage of
series in their appointed classes but would risk violating their
obligation to quote for minimum percentage of the trading day.
Theoretically, Market Makers might also need to repeatedly turn their
systems off to accommodate multiple Intra-day Adds.
    The Exchange believes that it would be impracticable, particularly
given that a number of Market Makers who use their systems to quote on
multiple markets and not solely on the Exchange, for Market Makers to
turn off their systems to accommodate quoting in Intra-day Adds on the
day during which those series are added on the Exchange. In addition,
the Exchange believes this would interfere with the continuity of its
market and reduce liquidity, which would ultimately harm investors and
contradicts the purpose of the Market Maker continuous quoting
obligation. This proposed rule change excludes Intra-day Adds from
these continuous quoting obligations to address this conflict.
    The Exchange believes this proposed relief would result in a
minimal reduction, if any, in liquidity in these series. Market Makers'
quoting systems would add these series the next trading day, so if
there is any slight reduction in liquidity in these few series, it
would only last for a short period of time (until the following trading
day). Additionally, this potential small reduction in liquidity would
be far outweighed by the reduction in liquidity that the Exchange
believes would result from the withdrawals from and reductions in
applications for Market Maker appointments if the Exchange did not
provide this relief.
    The current quoting obligation in Intra-day Adds is a minor part of
a Market Maker's overall obligations. Market Makers will still be
obligated to provide continuous two-sided markets in a substantial
number of series in their appointed classes. Further, Market Makers
would still be obligated to quote the Intra-day Adds the following day,
and, thus, their quoting relief is very short lived and could,
potentially, only last a few hours or until the opening of trading the
following day. The Exchange believes that the burden of continuous
electronic quoting in the extremely small number of series Intra-day
Adds represent is counter to the Exchange's efforts to continuously
increase liquidity in its listed option classes. The Exchange believes
the proposed rule change will continue to ensure that Market Makers
create a fair and orderly market in the option classes to which they
are assigned, as it does not absolve Market Makers from providing
continuous electronic quotes in a significant percentage of series of
each class for a substantial portion of the trading day. Market Makers
must engage in activities that constitute a course of dealings
reasonably calculated to contribute to the maintenance of a fair and
orderly market, including (1) competing with other Market Makers to
improve markets in all series of options classes comprising their
appointments; (2) making markets that, absent changed market
conditions, will be honored in accordance with firm quote rules; and
(3) updating market quotations in response to changed market conditions
in their appointed options classes and to assure that any market quote
it causes to be disseminated is accurate.
    The proposed rule change also clarifies that while PLMMs and LMMs
will not be required to provide continuous quotes in Intra-day Adds on
the day during which such series are added for trading, PLMMs and LMMs
may still receive a participation entitlement in such series if they
elect to quote in that series and otherwise satisfy the entitlement
requirements set forth in Rule 514. Specifically, the Exchange is
proposing to revise the Interpretations and Policies to Rule 604

to provide that (1) LMMs may still receive directed orders and
participation entitlements in all Intra-day Adds on the day during
which such series are added for trading in which they are quoting
provided the LMM meets all other entitlement requirements set forth in
Rules 514(h) and (i); and (2) PLMMs may still receive participation
entitlements in all Intra-day Adds on the day during which such series
are added for trading in which they are quoting provided the PLMM meets
all other entitlement requirements set forth in Rules 514(g) and (i).
LMMs already receive directed orders and participation entitlements in
series they are not required to quote. For example, the continuous
quoting requirement of Rule 604 currently does not apply to LMMs
quoting option series with a time to expiration of nine months or
greater. Interpretations and Policies .01 currently provides that LMMs
may receive directed orders and participation entitlements when quoting
such long-term series, provided the LMM meets all other entitlement
requirements as set forth in Rules 514(h) and (i). In addition, an LMM
is currently required to provide continuous electronic quotes in at
least 90% of the non-adjusted option series of each multiply listed
option class allocated to it for 90% of the trading day. If the LMM
elects to quote in 100% of the non-adjusted series in an option class
allocated to it, it can receive directed orders and participation
entitlements in all of those series when quoting at the best price,
including the 10% of the series in which it is not required to quote.
Finally, with respect to PLMMs, the continuous quoting requirement of
Rule 604 currently does not apply to PLMMs quoting adjusted option
series; if a PLMM elects to quote an adjusted option series, it can
receive the participation entitlement provided the PLMM meets all other
entitlement requirements as set forth in Rules 514(g) and (i). Thus,
under the proposed rule change, the market would continue to function
as it does now. The Exchange believes this benefit is appropriate, as
it provides incentives for PLMMs and LMMs to quote in as many series as
possible in their appointed classes, even those series in which the
Rules do not require them to continuously quote.
    The Exchange does not believe that the proposed rule change would
adversely affect the quality of the Exchange's markets or lead to a
material decrease in liquidity. Rather, the Exchange believes that its
current market structure, with its high rate of participation by Market
Makers, permits the proposed rule change without fear of losing
liquidity. The Exchange also believes that market-making activity and
liquidity could materially decrease without the proposed rule change to
exclude Intra-day Adds from Market Maker continuous quoting obligations
on the trading day during which they are added for trading. The
Exchange believes that this proposed relief will encourage Market
Makers to continue appointments and other Members to request Market
Maker appointments, and, as a result, expand liquidity in options
classes listed on the Exchange to the benefit of the Exchange, its
Members and public customers. The Exchange believes that its Market
Makers would be disadvantaged without this proposed relief. Other
Members and public customers would also be disadvantaged if Market
Makers withdrew from appointments in options classes, resulting in
reduced liquidity and volume in those classes. Additionally, the
Exchange believes that the proposed rule change to clarify that PLMMs
and LMMs may receive participation entitlements in Intra-day Adds on
the day during which such series are added for trading if they satisfy
the other entitlement requirements as set forth in Exchange Rules, even
if the Rules do not require the Market Makers to continuously quote in
those series, will incent Market Makers to quote in series in which
they are not required to quote, which may increase liquidity in their
appointed classes.
2. Statutory Basis
    The Exchange believes that its proposed rule change is consistent
with the Securities Exchange Act of 1934 (the ``Act'') and the rules
and regulations thereunder applicable to the Exchange and, in
particular, the requirements of Section 6(b) \7\ of the Act.
Specifically, the Exchange believes the proposed rule change is
consistent with the Section 6(b)(5) \8\ requirements that the rules of
an exchange be 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 regulating,
clearing, settling, processing information with respect to, and
facilitation [sic] transactions in securities, to remove impediments to
and perfect the mechanism of a free and open market and a national
market system, and, in general, to protect investors and the public
interest. Additionally, the Exchange believes the proposed rule change
is consistent with the Section 6(b)(5) requirement that the rules of an
exchange not be designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In particular, the Exchange believes the proposed rule change to
exclude Intra-day Adds during the day that such series are added for
trading from Market Makers' quoting obligations promotes just and
equitable principles of trade because it promotes liquidity and
continuity in the marketplace and would prevent interruptions in
quoting or reduced liquidity that may otherwise result. The Exchange
also believes that the proposed rule change supports the quality of the
Exchange's markets because it does not significantly change the current
quoting obligations of Market Makers. Market Makers must still provide
continuous electronic quotes for a significant part of the trading day
in a substantial number of series of each appointed class. The proposed
relief is offset by a Market-Maker's obligation to quote in these
series beginning the next trading day. With respect to RMMs, even if
the RMM does not quote Intra-day Adds on the trading day during which
they are added, this would be further offset by the RMM's continued
obligation to quote in these series when requested by an Exchange
Official. Accordingly, the proposed rule change supports the quality of
the Exchange's trading markets by helping to ensure that Market Makers
will continue to be obligated to quote in Intra-day Adds if, and when,
the need arises and on an ongoing basis following the trading day
during which the series are added. The Exchange believes this proposed
change is reasonable and is offset by Market-Makers' continued
responsibilities to provide significant liquidity to the market to the
benefit of market participants.
    The Exchange believes this proposed rule change, on balance, is a
minor change and should not impact the quality of the Exchange's
trading markets. Among other things, Intra-day Adds represent an
insignificant percentage of series listed on the Exchange each day. The
Exchange further believes that the potential small reduction in
liquidity in Intra-day Adds that may result from the proposed relief
would be far outweighed by the significant reduction in liquidity in
appointed classes that the Exchange believes could occur from
withdrawals from and reductions in applications for Market-Maker
appointments without the proposed relief. The proposed rule change also
removes impediments to and allows for a free and open market,

while protecting investors, by promoting additional transparency
regarding Market-Makers' obligations and benefits in the Exchange
Rules. In addition, the Exchange believes that the proposed rule change
is designed to not permit unfair discrimination among Market Makers, as
the proposed rule change provides the proposed relief for all Market
Makers.
    The proposed rule change to clarify that LMMs may receive directed
orders and participation entitlements, and PLMMs may receive
participation entitlements in Intra-day Adds in their appointed classes
in which they are quoting, even though they are not required to quote
such series, further supports the quality of the Exchange's trading
markets because it encourages LMMs and PLMMs to quote in as many series
as possible, which ultimately benefits all investors. This benefit is
offset by the LMMs' and PLMMs' continued quoting obligations and the
fact that their quotes in these ``non-required'' series must still
satisfy all of their other obligations under the Rules. The Exchange
also believes that this proposed change is consistent with its current
practice, pursuant to which (1) LMMs receive directed orders and
participation entitlements in long-term series, adjusted series and
additional series in which they elect to quote above the minimum
percentage of series in which they are required to continuously quote
under the Rules; and (2) PLMMs receive participation entitlements in
adjusted series.
    For the foregoing reasons, the Exchange believes that the proposed
rule change is appropriate and consistent with the Act.

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 does not believe
the proposed rule change to exclude Intra-day Adds during the day which
such series are added for trading from Market Makers' quoting
obligations will cause any unnecessary burden on intra-market
competition because it provides the same relief to a group of similarly
situated market participants, that is, Market Makers. The Exchange does
not believe the proposed change will cause any unnecessary burden on
inter-market competition because Intra-day Adds are a very small
portion of series on the Exchange. The Exchange further believes that
the potential small reduction in liquidity in Intra-day Adds that may
result from the proposed relief would be far outweighed by the
significant reduction in liquidity in appointed classes that the
Exchange believes could occur from withdrawals from and reductions in
applications for Market-Maker appointments without the proposed relief.
In addition, the Exchange believes that the proposed rule change will
in fact relieve any burden on, or otherwise promote, competition. The
Exchange believes that excluding Intra-day Adds on the day during which
they are added for trading from Market-Maker obligations will promote
trading activity on the Exchange to the benefit of the Exchange, its
Members, and market participants.
    The Exchange does not believe the proposed rule change to clarify
that LMMs and PLMMs may receive participation entitlements in Intra-day
Adds in their appointed classes in which they are quoting, even though
they are not required to quote, provided the other requirements set
forth in the Rules are satisfied, will cause any unnecessary burden on
intra-market competition because it too provides the same relief to a
group of similarly situated market participants, that is all LMMs and
PLMMs. The Exchange does not believe the proposed change will cause any
unnecessary burden on inter-market competition because LMMs are
currently entitled to receive directed orders and participation
entitlements, and PLMMs are currently entitled to receive participation
entitlements on series they are not obligated to quote in under the
Rules. In addition, the Exchange believes that the proposed rule change
will in fact promote competition. The Exchange believes allowing LMMs
to receive directed orders and participation entitlements, and PLMMs to
receive participation entitlements in Intra-day Adds will promote
trading activity on the Exchange because it will provide incentives to
LMMs and PLMMs to quote in such series though not obligated to do so,
to the benefit of the Exchange, its Members, and market participants.

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

    Written comments were neither solicited nor received.

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

    The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \9\ and Rule 19b-4(f)(6) thereunder.\10\
Because the proposed rule change does not: (i) Significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.\11\
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \10\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires the Exchange to give the Commission written notice of the
Exchange's intent to file the proposed rule change, along with a
brief description and text of the proposed rule change, at least
five business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission. The
Exchange has satisfied this requirement.
    \11\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \12\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\13\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing. The Commission notes that
waiver of the operative delay would permit the Exchange to implement
the changes proposed herein immediately.
---------------------------------------------------------------------------

    \12\ 17 CFR 240.19b-4(f)(6).
    \13\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------

    Under the proposal, the Exchange would amend certain of its rules
pertaining to the trading of options in order to exclude Intra-day Adds
from Market Makers' continuous quoting obligations on the day such
series are added for trading. If, and only if, they are in fact quoting
them, LMMs and PLMMs will be eligible to receive directed orders and
participation entitlements in all Intra-day Adds on the day such series
are added for trading, provided the LMM or PLMM meets all other
directed order and participation entitlement requirements. The Exchange
notes that eliminating the continuous quoting obligations for Intra-day
Adds will ensure fair competition among the exchanges and encourage
greater liquidity on the Exchange to the benefit of investors. Further,
the Exchange represents that the proposed rule change also will promote
consistency among the competing options exchanges that have Intra-day

Adds and reduce the current compliance burdens imposed on Market Makers
by the application of different continuous quoting standards.
    The Commission notes that MIAX's proposal is based on a proposal
submitted by another exchange that the Commission approved,\14\ and it
raises no novel regulatory issues. Accordingly, the Commission hereby
waives the 30-day operative delay and designates the proposed rule
change as operative upon filing.\15\
---------------------------------------------------------------------------

    \14\ See supra note 5. The Commission notes that it did not
receive any comments on CBOE-2013-019.
    \15\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \16\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

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-2013-44 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-2013-44. 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 at 100 F Street NE.,
Washington, DC 20549-1090 on official business days between the hours
of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-MIAX-2013-44 and should be
submitted on or before October 22, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\17\
---------------------------------------------------------------------------

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

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-23903 Filed 9-30-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 199 (Friday, October 14, 2016)]
[Notices]
[Pages 71127-71129]
[FR Doc No: 2016-24839]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79068; File No. SR-NYSEArca-2016-136]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
of Proposed Rule Change Amending NYSE Arca Equities Rule 7.35P To
Provide for Widened Price Collar Thresholds for the Core Open Auction
on Volatile Trading Days

October 7, 2016.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on September 28, 2016, NYSE Arca, Inc. (the ``Exchange'' or
``NYSE Arca'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and II
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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

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

    The Exchange proposes to amend NYSE Arca Equities Rule 7.35P to
provide for widened price collar thresholds for the Core Open Auction
on volatile trading days. The proposed rule change is available on the
Exchange's Web site at www.nyse.com, at the principal office of the
Exchange, and at the Commission's Public Reference Room.

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

    In its filing with the Commission, the self-regulatory organization
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 those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.

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

1. Purpose
    The Exchange proposes to amend NYSE Arca Equities Rule 7.35P
(``Rule 7.35P'') to provide for widened price collar thresholds for the
Core Open Auction on volatile trading days. The Exchange believes that
widening the Auction Collars for the Core Open Auction during periods
of market-wide volatility would assist the Exchange in conducting fair
and orderly auctions for its listed securities.
    As set forth in Rule 7.35P(a)(10), the price collar thresholds for
the Core Open Auction are currently set at 10% for securities with an
Auction Reference Price of $25.00 or less, 5% for securities with an
Auction Reference Price greater than $25.00 but less than or equal to
$50.00, and 3% for securities with an Auction Reference Price greater
than $50.00.\4\
---------------------------------------------------------------------------

    \4\ The Auction Reference Price for the Core Open Auction is the
midpoint of the Auction NBBO or, if the Auction NBBO is locked, the
locked price. If there is no Auction NBBO, the prior trading day's
Official Closing Price. The Auction Reference Price for the Trading
Halt Auction is the last consolidated round-lot price of that
trading day, and if none, the prior trading day's Official Closing
Price. See NYSE Arca Equities Rule 7.35P(a)(8).
---------------------------------------------------------------------------

    The Exchange proposes to widen the applicable Auction Collars for
the Core Open Auction on days with market-wide volatility to 10% for
all Auction-Eligible Securities,\5\ regardless of the Auction Reference
Price. The Exchange believes that for securities priced greater than
$25.00, the proposed wider price collar threshold would allow for
additional price movements during periods of market-wide volatility,
while continuing to prevent auctions from occurring at prices
significantly away from the applicable Auction Reference Price.\6\ The
proposed 10% price collar threshold for the Core Open Auction is the
same as currently used by the

Nasdaq Stock Market LLC (``Nasdaq'') for its opening crosses.\7\
---------------------------------------------------------------------------

    \5\ For the Core Open Auction, Auction-Eligible Securities are
all securities for which the Exchange is the primary listing market
and UTP Securities designated by the Exchange. See NYSE Arca
Equities Rule 7.35P(a)(1)(A).
    \6\ On June 24, 2016, the Exchange temporarily widened Auction
Collars for the Core Open Auction for all Auction-Eligible
Securities to 10% in response to the a temporary basis [sic]
referendum vote by the United Kingdom (``UK'') to leave the European
Union, which resulted in an extraordinary level of global market
activity, including the pricing of the ETPs traded on the Exchange.
See Securities Exchange [sic] Release No. 78152 (June 24, 2016), 81
FR 42781 (June 30, 2016) (SR-NYSEArca-2016-90).
    \7\ See Nasdaq Rule 4752(d)(2)(E) and http://www.nasdaqtrader.com/content/productsservices/trading/crosses/openclose_faqs.pdf.
---------------------------------------------------------------------------

    To determine whether there is market-wide volatility, the Exchange
proposes to use the same standard that its affiliated exchange, the New
York Stock Exchange LLC (``NYSE''), recently added to determine whether
there is market-wide volatility.\8\ As proposed, the Exchange would
widen its Auction Collars for the Core Open Auction if, as of 9:00 a.m.
Eastern Time, the E-mini S&P 500 Futures are +/- 2% from the prior
day's closing price of the E-mini S&P 500 Futures or the Exchange
determines that it is necessary or appropriate for the maintenance of a
fair and orderly market. Market-wide volatility applies similar pricing
pressure to all eligible securities and, in addition to the empirical
measurement of the E-mini S&P 500 Futures, the Exchange proposes that
it would have the power to widen the Auction Collars if it determines
that it is necessary or appropriate for the maintenance of a fair and
orderly market.\9\
---------------------------------------------------------------------------

    \8\ See NYSE Rules 15(d)(2) and 123D(a)(1)(B)(ii); see also
Securities Exchange [sic] Release No. 78228 (July 5, 2016), 81 FR
44907 (July 11, 2016) (SR-NYSE-2016-24) (Approval Order).
    \9\ Volatility affecting the Core Open Auction can emanate from
many sources, including the previous day's trading session,
overnight trading, trading in the foreign markets before the
opening, substantial activity in the futures market before the
opening, government actions or announcements, global news and
events, and changes to the E-mini S&P Futures after 9:00 a.m.
Eastern Time.
---------------------------------------------------------------------------

    The Exchange believes that widening the Auction Collars for the
Core Open Auction during periods of market-wide volatility would
promote greater efficiency and transparency on such trading days by
specifying uniform parameters for how the Core Open Auction would be
effectuated for all Auction-Eligible securities on trading days
experiencing market-wide volatility.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the
Act,\10\ in general, and furthers the objectives of Section 6(b)(5) of
the Act,\11\ 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, and to
remove impediments to and perfect the mechanism of a free and open
market and a national market system, and in general, to protect
investors and the public interest.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78f(b).
    \11\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In particular, the Exchange believes that applying the same Auction
Collars of 10% to all Eligible Auction Securities during periods of
market-wide volatility, regardless of the Auction Reference Price,
would remove impediments to and perfect the mechanism of a free and
open market and a national market system, and in general, protect
investors and the public interest, because it would promote fair and
orderly auctions during periods when market-wide volatility is causing
pricing dislocation across all securities. The Exchange further
believes that widening the price collar thresholds for all securities
would remove impediments to and perfect the mechanism of a national
market system because it is designed to allow for greater price
movement, while at the same time preventing auction trades from
occurring at prices significantly away from the applicable Auction
Reference Price. Accordingly, investors would be protected from
executions significantly away from the last sale in a security or other
applicable reference price, but natural price fluctuations resulting
from the market volatility would be permitted. In addition, the
Exchange believes that widening the Auction Collars could reduce the
possibility of securities triggering multiple trading pauses under the
Regulation NMS Plan to Address Market Volatility.
    The Exchange further believes that by specifying the standards for
when Auction Collars would be widened, the proposal would advance the
efficiency and transparency of the opening process, thereby fostering
accurate price discovery at the open of trading. For the same reasons,
the proposal is also designed to protect investors as well as the
public interest.

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

    The Exchange does not believe that the proposed rule change would
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed rule change is
not designed to address competitive issues but rather is designed to
ensure a fair and orderly market by widening the price collar
thresholds for the Core Open Auction on trading days with market-wide
volatility and therefore will not create a burden on competition. The
proposed rule change is not intended to address competitive issues but
rather promote greater efficiency and transparency at the open of
trading on the Exchange.

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

    No written comments were solicited or received with respect to the
proposed rule change.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    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-NYSEArca-2016-136 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
    All submissions should refer to File Number SR-NYSEArca-2016-136.
This file number should be included on the subject line if email is
used. To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the

provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSEArca-2016-136 and should
be submitted on or before November 4, 2016.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

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

Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-24839 Filed 10-13-16; 8:45 am]
 BILLING CODE 8011-01-P


          Sulfur in Gasoline Spreadsheet Example Key for Requirements

                              Compliance Division                    Office of Transportation and Air Quality                      U.S. Environmental Protection Agency                                    May 2023

    This collection of information is approved by OMB under the Paperwork Reduction Act, 44 U.S.C. 3501 et seq. OMB Control No 2060-0731. Responses to this collection of information are voluntary 1090 CFR 1360 through 1090 1365. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. The public reporting and recordkeeping burden for this collection of information is estimated to average 180 hours per response.  Send comments on the Agency's need for this information, the accuracy of the provided burden estimates and any suggested methods for minimizing respondent burden to the Regulatory Support Division Director, U.S. Environmental Protection Agency (2821T), 1200 Pennsylvania Ave., NW, Washington, D.C. 20460. Include the OMB control number in any correspondence. Do not send the completed form to this address.

PBMS0008                                   Disclaimer

The discussion in this document is intended solely as guidance.  The statutory provisions and EPA regulations described in this document contain legally binding requirements.  This document is not a regulation itself, nor does it change or substitute for those provisions and regulations.  Thus, it does not impose legally binding requirements on EPA, States, or the regulated community.  This spreadsheet template key does not confer legal rights or impose legal obligations upon any member of the public.

While EPA has made every effort to ensure the accuracy of the discussion in this spreadsheet example key for use with its associated spreadsheet example, the obligations of the regulated community are determined by statutes, regulations, or other legally binding requirements.  In the event of a conflict between the discussion in this document and any statute or regulation, this document would not be controlling.

The general description of the self-qualification process provided here may not apply to a particular situation.  Interested parties are free to raise questions about the substance of this spreadsheet example key, its associated spreadsheet example, and its applicability to a particular situation.  EPA may adopt approaches on a case-by-case basis that differ from those described in this spreadsheet example key.

Mention of trade names or commercial products does not constitute endorsement or recommendation for their use.

This is a living document and may be revised periodically without public notice.  EPA welcomes public input on this document at any time.

Introduction: On December 4, 2020, EPA promulgated regulatory streamlining requirements (see 85 FR 78412).

Beginning January 1, 2021, for gasoline at the 30 ppm sulfur average and 80 ppm cap standard, a test facility must self-qualify that it has met the precision and accuracy requirements codified in the regulations at §1090.1350(a)(2), §1090.1360(a)(2), §1090.1365(b)(3) Table 1, and §1090.1365(c)(3)(i).

If your test facility was utilizing the EPA referee test method, ASTM D2622 (IBR 1090.95(c)(8)), it is not necessary to meet these precision and accuracy requirements (see Table 1 to paragraph(d) of §1090.1360).  It is important to note, the on-going statistical quality control requirements at §1090.1375 apply to all methods, including the EPA referee test method.

The following spreadsheet template key applies to any party self-qualifying an alternative test method for sulfur in gasoline to the accuracy and precision requirements at §1090.1365(b) and §1090.1365(c). This guidance deals only with the self-qualification of alternative analytical test methods with respect to the initial precision and accuracy at a testing facility for measuring sulfur in gasoline.

The discussions of the applicable regulations in this document are not verbatim. The reader is encouraged to read and become familiar with the applicable regulations at §1090.1360, §1090.1365 and §1090.1375.  These instructions are intended to help a test facility self-qualify an alternative Voluntary Consensus-based Standards Body (VCSB) analytical test method for the measurement of sulfur in gasoline.

Applicable Dates: These requirements for test method self-qualification under §1090.1365 became effective on January 1, 2021.

Note: Please see below for instructions on use of this spreadsheet example key and its associated spreadsheet example for sulfur in gasoline which is provided by the Agency for determining compliance with the precision criteria of §1090.1365(b) in Part I.  Please see Part II for information on use of this spreadsheet example key with its associated spreadsheet example for sulfur in gasoline for the accuracy requirements of §1090.1365(c)(3)(i).  Please see Part III for additional PBMS requirements under part 1090.  We encourage parties to use this spreadsheet to structure their development of the information and data needed for test method self-qualification at their test facility.

Part I - Precision demonstration instructions for gasoline subject to the 30 ppm sulfur average and 80 ppm sulfur cap standard.

Precision Criteria (§1090.1365(b)) - the maximum allowable standard deviation computed from the results of a minimum of 20 tests made over 20 days (You may make up to 4 separate measurements in a 24-hour period, as long as the interval between measurements is at least 4 hours) on samples using good laboratory practices taken from a single homogeneous commercially available gasoline must be less than or equal to 1.5 times the repeatability "r" divided by 2.77, where "r" equals the ASTM repeatability of ASTM D7039-15a (Reapproved 2020) (Example: A 10 ppm sulfur gasoline sample: Maximum allowable standard deviation of 20 tests <=1.5*(1.75ppm/2.77) = 0.94 ppm). 1

A.	In the workbook entitled "Spreadsheet Example VCSB sulfur gasoline test method", locate the worksheet entitled, "10 ppm S Precision".  Enter data in the light shaded green areas of the worksheet.  For an example of the "10 ppm S Precision" worksheet with data completely entered, please see the worksheet entitled, "EX  -  10 ppm S Precision".   	Notes: 	1.	Test results must be reported in parts per million (ppm) to the number of significant digits specified in the method description or, if no such precision is indicated, to as many digits to the right of the decimal point as appear on the instrument readout up to three.  	2.	The date and time of each test measurement must be reported. 	3.	Please include the laboratory sample test identification number for each test result.

B.	After entering the data into the light shaded green area of the "10 ppm S Precision" worksheet, go to the "File" menu at the top of the screen and select "Save" to save your data.  Once all the data are entered into the "10 ppm S Precision" worksheet, the standard deviation of the data set (located in cell B16), and an indication as to whether the 10 ppm sulfur precision criterion are met will be determined by the worksheet.  The indication of "PASSED" or "FAILED" is in cell B15 in the worksheet, after the question, "Is 10 ppm Sulfur Precision Criterion Met?"  If the worksheet is missing required data, an indication of "REQUIRED DATA MISSING" will appear after this question.  There is a QC data entry check for each test result in column E (i.e., if data is entered in a test result cell, an indication of "OK" will appear next to that cell, but if no data is entered in a test result cell, an indication of "DATA REQUIRED IN CELL #" will appear next to that cell).  Note: If the applicant wishes to include more than the 20 minimum tests, please report the additional data by adding rows to the spreadsheet.2

Part II (§1090.1365(c)(3)(i)) - Accuracy demonstration instructions for gasoline subject to the 30 ppm sulfur average and 80 ppm sulfur cap standard.  Pick level below that represents accepted reference value of commercially available gravimetric sulfur standard (CAGSS).

Accuracy Criterion -	1.	The arithmetic average of a continuous series of at least 10 tests performed on a CAGSS in the range of 1-10 ppm sulfur shall not differ from the accepted reference value of that standard by more than 0.70 ppm sulfur.3

                   The arithmetic average of a continuous series of at least 10 tests performed on a CAGSS in the range of 10-20 ppm sulfur shall not differ from the accepted reference value of that standard by more than 1.02 ppm sulfur.4                                              The arithmetic average of a continuous series of at least 10 tests performed on a CAGSS in the range of 21-95 ppm sulfur shall not differ from the accepted reference value of that standard by more than 2.16 ppm sulfur                      A.	Locate the worksheet entitled, "S ppm Accuracy".  Enter data in the light shaded green areas of the worksheet.  For an example of the "10 ppm S Accuracy" worksheet with data completely entered, please see the worksheet entitled, "EX - S ppm Accuracy".    	Notes:  	1.	Test results must be reported in parts per million (ppm) to the number of significant digits specified in the method description or, if no such precision is indicated, to as many digits to the right of the decimal point as appear on the instrument readout up to three..  	2.	It is recommended that the date and time of each test measurement be reported.  	3.	Please include the laboratory sample test identification number for each test result.  	4.	In the appropriate rows, enter the "Vendor Name of Gravimetric Standard", "Lot Identification Number of Gravimetric Standard", and "Accepted Reference Value of the Gravimetric Standard (ppm)" in parts per million for the 1-10 ppm, 10-20 ppm, and 21-95 ppm sulfur gravimetric standards.  You may omit any of these ranges if you do not perform testing with fuel in that range.  	5.	Since the test method and laboratory identification information for this demonstration  		are the same as the test method and laboratory identification information in the  		 "10 ppm S precision" worksheet, for your convenience, this information is  		 automatically referenced from the "10 ppm S Precision" worksheet.	    B.	After entering the data into the light shaded green area of the worksheet as described above, go to the "File" menu at the top of the screen and select "Save" to save all the entered data.  Once all data are entered into the "S ppm Accuracy" worksheet, this worksheet will calculate the arithmetic average for the 1-10 ppm sulfur data set (located in cell B18) and the 10-20 ppm sulfur data set (located in cell I18), and the 21-95 ppm sulfur data set (located in cell O18).  This worksheet will also calculate the difference between the arithmetic average of the data set and the accepted reference value of each respective sulfur gravimetric standard (located in cell B22 for the 1-10 sulfur ppm accuracy demonstration,  located in cell I22 for the 10-20 sulfur ppm accuracy demonstration, and located in cell O22 for the 21-95 sulfur ppm accuracy demonstration).  This worksheet will indicate whether the 10 ppm sulfur accuracy criteria are met for the candidate test method by saying "PASSED" or "FAILED" in the cell after the questions, "Is 1-10 ppm Sulfur Accuracy Criterion Met?" (located in cell B17), "Is 10-20 ppm Sulfur Accuracy Criterion Met?" (located in cell I17), and "Is the 21-95 ppm Sulfur Accuracy Criterion Met (located in cell O17)?".  These accuracy criteria must be met for the test method to be considered to have met the accuracy criteria if you perform testing within that range.  If the worksheet is missing required data, an indication of "REQUIRED DATA MISSING" will appear after the applicable question.  There is a QC data entry check for each test result in column E and column L (i.e., if data is entered in a test result cell, an indication of "OK" will appear next to that cell, but if no data is entered in a test result cell, an indication of "DATA REQUIRED IN CELL #" will appear next to that cell).  There is also a QC data entry check on the concentration of the gravimetric standard in cell E20, cell L20, and cell R20 (i.e., for either the 1 to 10 ppm sulfur accuracy demonstration, 10 to 20 ppm sulfur accuracy demonstration, or 21 to 95 ppm sulfur accuracy demonstration), if the concentration of gravimetric standard falls within the applicable concentration range, an indication of "OK" will appear in the respective cell, if the concentration of the gravimetric standard falls below the applicable concentration range, an indication of "ARV TOO LOW IN CONCENTRATION" will appear in the respective cell, if the concentration of the gravimetric standard is above the applicable concentration range, an indication of "ARV TOO HIGH IN CONCENTRATION" will appear in the respective cell).   Note: If the applicant wishes to include more than the 10 minimum tests, please report the additional data by inserting rows into the spreadsheet.5      Part III - Additional information for voluntary consensus-based standards body Test Method Self Qualification

 §1090.1365. For test methods that are approved by a voluntary consensus-based standards body (VCSB) organization, such as the American Society for Testing and Materials (ASTM) or International Standards Organization (ISO), each individual test facility must demonstrate through self-qualification that the applicable for accuracy and precision criteria specified under §1090.1365 are met (Please see Part I and Part II of this spreadsheet example key).  The self-qualification of the test method is limited to the single test facility that performed the testing for accuracy and precision.

 §1090.1360(5)(i). Testing you performed to qualify alternative procedures under 40 CFR part 80.47 continues to be valid for making the demonstrations required in part 1090.

 §1090.1375. Quality Assurance procedures for sulfur measurement instrumentation.  A test method shall not be considered a test using an approved test method unless the quality control procedures specified at 1090.1375 are met separately for each instrument at the test facility.

 §1090.1345. See this section of the regulations for sample retention requirements that apply to your specific test facility.

 §1090.1200. Record retention requirements for approved test methods. Each individual test facility must retain records related to the establishment of accuracy and precision values, all test method documentation, and any quality control test and analysis under §1090.1365 and §1090.1375 for five years.      EPA Contact: <EMAIL_ADDRESS>


[Federal Register Volume 80, Number 1 (Friday, January 2, 2015)]
[Notices]
[Page 99]
[FR Doc No: 2014-30358]

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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Air Traffic Procedures Advisory Committee

AGENCY: Federal Aviation Administration (FAA), DOT.

SUMMARY: The FAA is issuing this notice to advise the public that a
meeting of the Federal Aviation Administration Air Traffic Procedures
Advisory Committee (ATPAC) will be held to review present air traffic
control procedures and practices for standardization, revision,
clarification, and upgrading of terminology and procedures.

DATES: The meeting will be held Monday, February 9 from 12:00 p.m. to
5:00 p.m. and Tuesday, February 10, 2015 from 8:30 a.m. to 5:00 p.m.

ADDRESSES: The meeting will be held at CGH Technologies, Inc., 600
Maryland Ave. SW., Suite 800W, Washington, DC 20591.

FOR FURTHER INFORMATION CONTACT: Ms. Heather Hemdal, ATPAC Executive
Director, 600 Independence Avenue SW., Washington, DC 20597.

SUPPLEMENTARY INFORMATION: Pursuant to section 10(a)(2) of the Federal
Advisory Committee Act (Pub. L. 92-463; 5 U.S.C. App.2), notice is
hereby given of a meeting of the ATPAC to be held Monday, February 9
from 12:00 p.m. to 5:00 p.m. and Tuesday, February 10, 2015 from 8:30
a.m. to 5:00 p.m.
    The agenda for this meeting will cover a continuation of the
ATPAC's review of present air traffic control procedures and practices
for standardization, revision, clarification, and upgrading of
terminology and procedures. It will also include:

1. Call for Safety Items
2. Approval of minutes of the previous meeting
3. Introduction of New Areas of Concern or Miscellaneous items
4. Items of Interest
5. Status updates to existing Areas of Concern
6. Discussion and agreement of location and dates for subsequent
meetings.

    Attendance is open to the interested public but limited to space
available. With the approval of the Chairperson, members of the public
may present oral statements at the meeting. Persons desiring to attend
and persons desiring to present oral statement should notify Ms.
Heather Hemdal no later than February 2, 2015. Any member of the public
may present a written statement to the ATPAC at any time at the address
given above.

    Issued in Washington, DC, on December 22, 2014.
Heather Hemdal,
Executive Director, Air Traffic Procedures Advisory Committee.
[FR Doc. 2014-30358 Filed 12-31-14; 8:45 am]
BILLING CODE 4910-13-P