80 FR 58323 - Self-Regulatory Organizations: Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 503
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 187 (September 28, 2015)
Federal Register Volume 80, Issue 187 (September 28, 2015)
| Page Range | 58323-58326 | |
| FR Document | 2015-24516 |
[Federal Register Volume 80, Number 187 (Monday, September 28, 2015)] [Notices] [Pages 58323-58326] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-24516] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-75962; File No. SR-MIAX-2015-57] Self-Regulatory Organizations: Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 503 September 22, 2015. 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 21, 2015, 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, II, and III 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 Exchange Rule 503. 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 503 to codify existing functionality during the Exchange's Opening Process. Specifically, the Exchange is amending Rule 503(f) to address a discrepancy between the rule text description of how this process works and how it is actually working in production. Specifically, the Exchange proposes to amend the rule to provide that the System will use the Expanded Quote Range (``EQR'') when there are quotes and orders that lock or cross each other. The proposal codifies the actual existing functionality during the Exchange's Opening Process. In addition, the Exchange proposes to relocate the EQR subsection that is currently in Rule 503(f)(5) to proposed Rule 503(f)(2)(i). Currently Rule 503(f) provides that when there are quotes and orders that lock or cross an order, the System will use the highest bid and the lowest offer among valid width quotations received that have a bid/ask differential that is compliant with Rule 603(b)(4) to determine the highest quote bid and lowest quote offer.\3\ If that price is within the highest valid width quote bid and lowest valid width quote offer and leaves no imbalance, the Exchange will open at that price, executing marketable trading interest, as long as the opening price includes only Exchange interest. Current Rule 503(f) also provides that the EQR \4\ is only calculated when an imbalance occurs due to insufficient liquidity to satisfy all trading interest due an execution at a certain price.\5\ In contrast, the System calculates and uses an EQR in all situations during the Exchange's Opening Process when there are quotes and orders that lock or cross--whether the lock or cross involves an order or a quote and whether or not there is an order imbalance. --------------------------------------------------------------------------- \3\ See Exchange Rule 603(b)(4). See also Exchange Rule 503(e)(3), which states that ``valid width quotations'' are quotations that are compliant with Rule 603(b)(4) which provides the following criteria: (i) To price option contracts fairly by, among other things, bidding and offering so as to create differences of no more than $5 between the bid and offer (``bid/ask differentials'') following the opening rotation in an equity option contract; and (ii) Exchange may establish differences other than the bid/ask differentials described in (i) above for one or more option series or classes. \4\ See Exchange Rule 503(f)(5). \5\ See Exchange Rule 503(f)(5). Where there is an imbalance at the price at which the maximum number of contracts can trade that is also at or within the highest valid width quote bid and lowest valid width quote offer, the System will calculate an EQR. The EQR will be recalculated any time a Route Timer or Imbalance Timer expires if material conditions of the market (imbalance size, ABBO price or size, liquidity price or size, etc.) have changed during the timer. Once calculated, the EQR will represent the limits of the range in which transactions may occur during the opening process. The EQR calculation itself varies depending upon the specific situation, as specified in current Rule 503(f)(5). The EQR calculation will differ depending upon whether one or more away markets have disseminated valid width quotes in the affected series (or) no away markets have disseminated valid width quotes in the affected series. See Exchange Rule 503(f). --------------------------------------------------------------------------- While the System calculates EQR in either situation, it does not necessarily use the EQR in determining the calculated opening price where the maximum quantity of contracts may trade. For example, proposed Rule 503(f)(2)(iii) would state that in situations where there is matched interest that does not represent an imbalance and there is no valid width NBBO, the System will calculate a ``quality opening market range'' (as defined in a table to be determined by [[Page 58324]] the Exchange and published in a Regulatory Circular) in such option series. If the matched interest would trade at a price outside of the quality opening market range, the imbalance process will be used. The Exchange notes that in most situations there is no impact in the outcome of the opening due to the proposed change in the rule text to use the EQR instead of the highest bid and the lowest offer among valid width quotations received that have a bid/ask differential that is compliant with Rule 603(b)(4). For example--assume a quote bid of $1.00 for 5 contracts and a quote offer of $0.90 for 5 contracts on MIAX; away market 1 has a bid $0.01; away market 2 has an offer of $5.05. The Exchange should open because $.90-$1.00 for 5 contracts on either side is within a $5 bid/ask differential and leaves no imbalance. Instead, however, the System in this situation calculates a price range for the open based on an EQR to include the one or more away markets. After determining that the away markets do not have a valid width quote and that it is a crossed market ($0.01 bid by $5.05 offer is not a valid quote range), the System will calculate the EQR using the Exchange's highest valid width bid and lowest valid width offer ($.90 offer by $1.00 bid is a valid quote range). In this example, the Exchange would open the same under the proposed changes to Rule 503 as it does in the current version of the rule. If the current rule were applied in situations where quotes or orders lock or cross, and there are no valid-width away markets, the System would have nonetheless calculated the highest bid and the lowest offer among valid width quotations received on MIAX that have a bid/ask differential that is compliant with Rule 603(b)(4). The following example illustrates this scenario. Invalid Width ABBO Assume a quote bid of $1.00 for 5 contracts and quote offer of $0.90 for 5 contracts on MIAX; assume away market 1 has a bid $0.10; away market 2 has an offer of $5.20 (an invalid width ABBO). The System in this situation calculates a price range for the open based on an EQR that does not include the one or more away markets. In this example, the System sets the EQR to $0.90-$1.00, using the lowest quote offer and the highest quote bid. Valid Width ABBO Assume again a quote bid of $1.00 for 5 contracts and a quote offer of $0.90 for 5 contracts on MIAX; assume away market 1 has a bid $0.85; away market 2 has an offer of $1.10 (a valid width ABBO). The System in this situation calculates a price range for the open based on an EQR that includes the one or more away markets. After determining that the away markets have a valid width quote and that the MIAX market is crossed, the System sets the EQR to $0.85-$1.10, using the valid-width ABBO. If the current rule were applied, the System would have calculated the EQR if there had been an imbalance, using the Exchange's highest valid width bid and lowest valid width offer ($.90 offer by $1.00 bid is a valid quote range), and would open only within the limited $0.90- $1.00 range. In each of the above examples, under the current rule and under the proposed change, the System would open with a trade of 5 contracts at $0.95, the price at which the greatest number of contracts can trade. The following examples illustrate that the EQR is calculated in all situations, i.e., whether there is an imbalance or not. In the first example, assume quote bids of $0.90 and $0.80 for 5 contracts each, and quote offers of $1.00 and $1.10 of 5 contracts each on MIAX; assume away market 1 has a bid $0.10; away market 2 has an offer of $5.20 (invalid width ABBO). No Imbalance exists. Under the proposed Rule, an EQR calculation occurs, setting the EQR Minimum at the lowest bid minus the allowance per EQR Table ($0.75 in this case), and the EQR Maximum at the highest bid plus the allowance per EQR Table ($1.15 in this case). With no Imbalance and no crossing liquidity, no trade takes place. Assume again quote bids of $0.90 and $0.80 for 5 contracts each, and quote offers of $1.00 and $1.10 of 5 contracts each on MIAX; assume away market 1 has a bid $0.10; away market 2 has an offer of $5.20 (invalid width ABBO). No Imbalance exists. If the current Rule were to be applied, since there is no Imbalance, an EQR calculation would not occur. With no Imbalance and no crossing quotes or orders, no trade would occur. In each of these examples, because there is no trade, the Exchange would open by disseminating a quote as described in current Rule 503(f)(1).\6\ --------------------------------------------------------------------------- \6\ Current Rule 503(f)(1) states that if there are no quotes or orders that lock or cross each other, the System will open by disseminating the Exchange's best bid and offer among quotes and orders that exist in the System at that time. --------------------------------------------------------------------------- In Examples 3 and 4, the only difference is whether an EQR is calculated or not. But no trade takes place in either case. The Exchange believes that using the EQR instead of the current price range in Rule 503(f) is beneficial to market participants because the EQR provides a more accurate measure as to whether there is sufficient available liquidity in the broader market system to provide a fair and orderly opening process and sufficient price discovery for the options to open for trading because it incorporates the prices on away markets into its evaluation. The Exchange also proposes to amend current Rule 503(f)(3) to provide that the provision applies to situations when the lock or cross involves an order or a quote, not just an order. Specifically, the Exchange proposes to provide that if there are quotes or orders that lock or cross, the System will use the EQR to determine the highest and lowest price of the opening price range. Currently, to calculate the opening price, the System will take into consideration all valid Exchange quotes and all valid orders, together with other exchanges' markets for the series and identify the price at which the maximum number of contracts can trade. If that price is within the EQR and leaves no imbalance, the Exchange will open at that price, executing marketable trading interest, as long as the opening price includes only Exchange interest. In addition, the Exchange proposes relocating the EQR subsection that is currently in Rule 503(f)(5) to proposed Rule 503(f)(2)(i). The Exchange believes that this change will reduce the potential for any confusion on the part of its members as to when the EQR is calculated and used during the Exchange's Opening Process. The Exchange also proposes deleting language regarding the imbalance from current Rule 503(f)(7) and relocating the subsection that is currently in Rule 503(f)(7) to proposed Rule 503(f)(2)(iii). In addition, the Exchange also proposes technical changes to the number formatting in current Rule 503(f) in order to reduce the potential for confusion as to which provisions in Rule 503(f) apply to situations where there are quotes and orders that lock and cross each other. 2. Statutory Basis MIAX believes that its proposed rule change is consistent with section 6(b) of the Act \7\ in general, and furthers the objectives of section 6(b)(5) of the Act \8\ 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 [[Page 58325]] mechanisms of a free and open market and a national market system and, in general, to protect investors and the public interest. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b). \8\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The proposed amendments remove impediments to and perfect the mechanisms of a free and open market and a national market system and, in general, protect investors and the public interest by amending the rules regarding the Exchange's Opening Process. The inclusion of the functionality of the System in the rules promotes transparency and clarity in the Exchange's Opening Process. The transparency and accuracy resulting from the codification of this functionality is consistent with the Act because it removes impediments to and perfects the mechanism of a free and open market and a national market system, and, in general, protects investors and the public interest, by accurately describing the steps taken by the System in the limited scenario where the Exchange's opening quote is crossed by orders that have the same size. Participants in the Exchange's opening will have a better understanding of the Exchange's opening process when there are quotes and orders that lock and cross each other. In addition, the Exchange believes that the function of the EQR itself is designed to promote just and equitable principles of trade by providing a clear and objective method to enable a fair and orderly opening on the exchange to the benefits of investors and the public interest. The Exchange believes that using the EQR instead of the current price range in Rule 503(f) is beneficial to market participants because the EQR represents a more accurate measure of the true market for an option on the opening (especially after providing participants with an opportunity to submit new quotes before the EQR is calculated). This step providing that opportunity, now codified in the Rule should reduce the probability of imbalances and will assure participants in the Exchange's opening process that they have the ability to submit new opening quotes in response to an imbalance message. This process is fair because it provides such an opportunity for all participants, and is orderly because that opportunity must take place before the EQR is calculated. Moreover, the imbalance message followed by the EQR calculation is more efficient because it functions to eliminate unnecessary delays in the opening process by allowing participants to submit new quotations against which opening orders and quotes may trade. 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 that is not necessary or appropriate in furtherance of the purposes of the Act. Specifically, the Exchange believes the proposed changes will not impose any burden on intra- market competition because it applies to all MIAX participants equally. In addition, the Exchange does not believe the proposal will impose any burden on inter-market competition as the proposal is intended to protect investors by providing further transparency regarding the Exchange's Opening Process. The Exchange believes that using the EQR instead of the current price range in Rule 503(f) is beneficial to market participants because the EQR provides a more accurate measure as to whether there is sufficient available liquidity in the broader market system to provide a fair and orderly opening process and sufficient price discovery for the options to open for trading to the benefit of investors. As such, the Exchange believes that the EQR will not be a burden on competition, but rather promote more trading opportunities and competition during the opening since it is designed to promote just and equitable principles of trade by providing a clear and objective method to enable a fair and orderly opening on the exchange to the benefits of investors and the public interest. 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 Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days after the date of the filing, or such shorter time as the Commission may designate, it has become effective pursuant to 19(b)(3)(A) of the Act \9\ and Rule 19b-4(f)(6) \10\ thereunder. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A). \10\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR- MIAX-2015-57 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-MIAX-2015-57. 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 [[Page 58326]] 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-2015-57 and should be submitted on or before October 19, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\11\ --------------------------------------------------------------------------- \11\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-24516 Filed 9-25-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 187 / Monday, September 28, 2015 / Notices 58323
All submissions should refer to File No. thereunder,2 notice is hereby given that Currently Rule 503(f) provides that
265–28. This file number should be on September 21, 2015, Miami when there are quotes and orders that
included on the subject line if email is International Securities Exchange LLC lock or cross an order, the System will
used. To help us process and review (‘‘MIAX’’ or ‘‘Exchange’’) filed with the use the highest bid and the lowest offer
your statement more efficiently, please Securities and Exchange Commission among valid width quotations received
use only one method. (‘‘Commission’’) a proposed rule change that have a bid/ask differential that is
Statements also will be available for as described in Items I, II, and III below, compliant with Rule 603(b)(4) to
Web site viewing and printing in the which Items have been prepared by the determine the highest quote bid and
Commission’s Public Reference Room, Exchange. The Commission is lowest quote offer.3 If that price is
100 F Street NE., Room 1580, publishing this notice to solicit within the highest valid width quote bid
Washington, DC 20549, on official comments on the proposed rule change and lowest valid width quote offer and
business days between the hours of from interested persons. leaves no imbalance, the Exchange will
10:00 a.m. and 3:00 p.m. All statements open at that price, executing marketable
I. Self-Regulatory Organization’s trading interest, as long as the opening
received will be posted without change;
Statement of the Terms of Substance of price includes only Exchange interest.
we do not edit personal identifying
the Proposed Rule Change Current Rule 503(f) also provides that
information from submissions. You
should submit only information that The Exchange is filing a proposal to the EQR 4 is only calculated when an
you wish to make available publicly. amend Exchange Rule 503. imbalance occurs due to insufficient
FOR FURTHER INFORMATION CONTACT: The text of the proposed rule change liquidity to satisfy all trading interest
Marc Oorloff Sharma, Senior Special is available on the Exchange’s Web site due an execution at a certain price.5 In
Counsel, Office of the Investor at http://www.miaxoptions.com/filter/ contrast, the System calculates and uses
Advocate, at (202) 551–3302, Securities wotitle/rule_filing, at MIAX’s principal an EQR in all situations during the
and Exchange Commission, 100 F Street office, and at the Commission’s Public Exchange’s Opening Process when there
NE., Washington, DC 20549. Reference Room. are quotes and orders that lock or
cross—whether the lock or cross
SUPPLEMENTARY INFORMATION: The II. Self-Regulatory Organization’s involves an order or a quote and
meeting will be open to the public, Statement of the Purpose of, and whether or not there is an order
except during that portion of the Statutory Basis for, the Proposed Rule imbalance.
meeting reserved for an administrative Change While the System calculates EQR in
work session during lunch. Persons In its filing with the Commission, the either situation, it does not necessarily
needing special accommodations to take Exchange included statements use the EQR in determining the
part because of a disability should concerning the purpose of and basis for calculated opening price where the
notify the contact person listed in FOR the proposed rule change and discussed maximum quantity of contracts may
FURTHER INFORMATION CONTACT. trade. For example, proposed Rule
any comments it received on the
The agenda for the meeting includes: proposed rule change. The text of these 503(f)(2)(iii) would state that in
Remarks from Commissioners; a statements may be examined at the situations where there is matched
discussion of recent market structure places specified in Item IV below. The interest that does not represent an
developments; a discussion of Exchange has prepared summaries, set imbalance and there is no valid width
exchange-traded fund pricing; a report forth in sections A, B, and C below, of NBBO, the System will calculate a
of the Committee chair regarding the most significant aspects of such ‘‘quality opening market range’’ (as
Committee matters; a discussion of SEC statements. defined in a table to be determined by
enforcement priorities; and a nonpublic
administrative work session during A. Self-Regulatory Organization’s 3 See Exchange Rule 603(b)(4). See also Exchange
lunch. Statement of the Purpose of, and Rule 503(e)(3), which states that ‘‘valid width
Statutory Basis for, the Proposed Rule quotations’’ are quotations that are compliant with
Dated: September 22, 2015. Rule 603(b)(4) which provides the following
Change criteria: (i) To price option contracts fairly by,
Brent J. Fields,
among other things, bidding and offering so as to
Secretary. 1. Purpose create differences of no more than $5 between the
[FR Doc. 2015–24514 Filed 9–25–15; 8:45 am] The Exchange proposes to amend bid and offer (‘‘bid/ask differentials’’) following the
opening rotation in an equity option contract; and
BILLING CODE 8011–01–P Rule 503 to codify existing functionality (ii) Exchange may establish differences other than
during the Exchange’s Opening Process. the bid/ask differentials described in (i) above for
Specifically, the Exchange is amending one or more option series or classes.
SECURITIES AND EXCHANGE Rule 503(f) to address a discrepancy 4 See Exchange Rule 503(f)(5).
COMMISSION between the rule text description of how 5 See Exchange Rule 503(f)(5). Where there is an
imbalance at the price at which the maximum
this process works and how it is number of contracts can trade that is also at or
[Release No. 34–75962; File No. SR–MIAX–
2015–57]
actually working in production. within the highest valid width quote bid and lowest
Specifically, the Exchange proposes to valid width quote offer, the System will calculate
amend the rule to provide that the an EQR. The EQR will be recalculated any time a
Self-Regulatory Organizations: Miami Route Timer or Imbalance Timer expires if material
International Securities Exchange LLC; System will use the Expanded Quote conditions of the market (imbalance size, ABBO
Notice of Filing and Immediate Range (‘‘EQR’’) when there are quotes price or size, liquidity price or size, etc.) have
Effectiveness of a Proposed Rule and orders that lock or cross each other. changed during the timer. Once calculated, the EQR
The proposal codifies the actual existing will represent the limits of the range in which
Change To Amend Exchange Rule 503 transactions may occur during the opening process.
tkelley on DSK3SPTVN1PROD with NOTICES
functionality during the Exchange’s The EQR calculation itself varies depending upon
September 22, 2015. Opening Process. In addition, the the specific situation, as specified in current Rule
Pursuant to the provisions of section Exchange proposes to relocate the EQR 503(f)(5). The EQR calculation will differ depending
19(b)(1) of the Securities Exchange Act subsection that is currently in Rule upon whether one or more away markets have
of 1934 (‘‘Act’’) 1 and Rule 19b–4 disseminated valid width quotes in the affected
503(f)(5) to proposed Rule 503(f)(2)(i). series (or) no away markets have disseminated valid
width quotes in the affected series. See Exchange
1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. Rule 503(f).
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![58326 Federal Register / Vol. 80, No. 187 / Monday, September 28, 2015 / Notices
received will be posted without change; Downs Racing L.P.; and (4) took Consumptive water use of up to 0.200
the Commission does not edit personal additional actions, as set forth in the mgd (peak day).
identifying information from SUPPLEMENTARY INFORMATION below. 3. Project Sponsor and Facility:
submissions. You should submit only DATES: September 10, 2015. Chetremon Golf Course, LLC (Irrigation
information that you wish to make ADDRESSES: Susquehanna River Basin Storage Pond), Burnside Township,
available publicly. All submissions Commission, 4423 N. Front Street, Clearfield County, Pa. Surface water
should refer to File Number SR–MIAX– Harrisburg, PA 17110–1788. withdrawal of up to 0.200 mgd (peak
2015–57 and should be submitted on or day).
FOR FURTHER INFORMATION CONTACT:
before October 19, 2015. 4. Project Sponsor and Facility: Chief
Jason E. Oyler, General Counsel,
For the Commission, by the Division of telephone: (717) 238–0423, ext. 1312; Oil & Gas LLC (Loyalsock Creek),
Trading and Markets, pursuant to delegated fax: (717) 238–2436; email: joyler@ Forksville Borough, Sullivan County,
authority.11 srbc.net. Regular mail inquiries may be Pa. Surface water withdrawal of up to
Robert W. Errett, sent to the above address. See also 1.500 mgd (peak day).
Deputy Secretary. Commission Web site at www.srbc.net. 5. Project Sponsor and Facility: JELD–
[FR Doc. 2015–24516 Filed 9–25–15; 8:45 am] WEN, inc. Fiber Division—PA, Wysox
SUPPLEMENTARY INFORMATION: In
Township, Bradford County, Pa.
BILLING CODE 8011–01–P addition to the actions taken on projects
Groundwater withdrawal of up to 0.252
identified in the summary above and the
mgd (30-day average) from Well 1.
listings below, the following items were
6. Project Sponsor and Facility: JELD–
SMALL BUSINESS ADMINISTRATION also presented or acted upon at the
WEN, inc. Fiber Division—PA, Wysox
business meeting: (1) Adoption of
Notice of Surrender of License of Township, Bradford County, Pa.
revisions to Resolution No. 2013–11; (2)
Small Business Investment Company Groundwater withdrawal of up to 0.252
release of proposed rulemaking to
mgd (30-day average) from Well 4.
address shortcomings in the rules for
Pursuant to the authority granted to 7. Project Sponsor and Facility: JELD–
transfer of approvals, create a category
the United States Small Business WEN, inc. Fiber Division—PA, Wysox
for minor modifications, establish a
Administration (‘‘SBA’’) under Section Township, Bradford County, Pa.
procedure for issuing general permits,
309 of the Small Business Investment Groundwater withdrawal of up to 0.323
and address other minor enhancements;
Act of 1958, as amended, and Section mgd (30-day average) from Well 5.
(3) adoption of amendment of the
107.1900 of the Small Business 8. Project Sponsor and Facility: JELD–
Comprehensive Plan for the Water
Administration Rules and Regulations, WEN, inc. Fiber Division—PA, Wysox
Resources of the Susquehanna River
SBA by this notice declares null and Township, Bradford County, Pa.
Basin; (5) approval of grants; (6) a report
void the license to function as a small Groundwater withdrawal of up to 0.323
on delegated settlements with the
business investment company under the mgd (30-day average) from Well 6.
following project sponsors, pursuant to
Small Business Investment Company 9. Project Sponsor and Facility: JELD–
SRBC Resolution 2014–15: Aqua
License No. 03/03–0240 issued to WEN, inc. Fiber Division—PA, Wysox
Pennsylvania, Inc., in the amount of
Innovation Ventures, L.P Township, Bradford County, Pa.
$6,000; Conyngham Borough Authority,
United States Small Business Groundwater withdrawal of up to 0.345
in the amount of $5,000; Keister Miller
Administration. mgd (30-day average) from Well 7.
Investments, LLC, in the amount of
Dated: September 22, 2015. 10. Project Sponsor and Facility:
$2,000; Susquehanna Gas Field
John R. Williams, JELD–WEN, inc. Fiber Division—PA,
Services, LLC, in the amount of $2,500;
Wysox Township, Bradford County, Pa.
Acting Associate Administrator, Office of and Wynding Brook, Inc. d/b/a
Investment and Innovation. Consumptive water use of up to 0.499
Wynding Brook Golf Club, in the
mgd (peak day).
[FR Doc. 2015–24503 Filed 9–25–15; 8:45 am] amount of $5,000; and (7) approval to
extend the term of emergency 11. Project Sponsor and Facility:
BILLING CODE P
certificates with Aqua Pennsylvania, Keister Miller Investments, LLC (West
Inc. to September 1, 2016, and with Branch Susquehanna River), Mahaffey
Furman Foods, Inc. to December 3, Borough, Clearfield County, Pa. Surface
SUSQUEHANNA RIVER BASIN water withdrawal of up to 1.000 mgd
COMMISSION 2015.
(peak day).
Compliance Matter 12. Project Sponsor and Facility:
Actions Taken at September 10, 2015, Lycoming County Water and Sewer
Meeting The Commission approved a
settlement in lieu of civil penalty for the Authority, Fairfield Township,
AGENCY: Susquehanna River Basin following project: Lycoming County, Pa. Groundwater
Commission. 1. Downs Racing L.P., Plains withdrawal of up to 0.180 mgd (30-day
ACTION: Notice. Township, Luzerne County, Pa.— average) from Production Well 3.
$25,000. 13. Project Sponsor and Facility:
SUMMARY: As part of its regular business Moxie Freedom LLC, Salem Township,
meeting held on September 10, 2015, in Project Applications Approved Luzerne County, Pa. Consumptive water
Binghamton, New York, the The Commission approved the use of up to 0.092 mgd (peak day).
Commission took the following actions: following project applications: 14. Project Sponsor and Facility:
(1) Approved or tabled the applications 1. Project Sponsor and Facility: Moxie Freedom LLC, Salem Township,
tkelley on DSK3SPTVN1PROD with NOTICES
of certain water resources projects; (2) Caernarvon Township Authority, Luzerne County, Pa. Groundwater
approved a request from Panda Power Caernarvon Township, Berks County, withdrawal of up to 0.062 mgd (30-day
Funds for transfer of ownership of Pa. Groundwater withdrawal of up to average) from Production Well 1.
Hummel Station LLC; (3) accepted a 0.673 mgd (30-day average) from Well 7. 15. Project Sponsor and Facility:
settlement in lieu of penalty from 2. Project Sponsor and Facility: Seneca Resources Corporation (Marsh
Chetremon Golf Course, LLC, Burnside Creek), Delmar Township, Tioga
11 17 CFR 200.30–3(a)(12). Township, Clearfield County, Pa. County, Pa. Renewal of surface water
VerDate Sep<11>2014 17:19 Sep 25, 2015 Jkt 235001 PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 E:\FR\FM\28SEN1.SGM 28SEN1](https://thefederalregister.org/doc/80_FR_58510/page/4.svg)
Document Created: 2018-02-26 10:21:49
Document Modified: 2018-02-26 10:21:49
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| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| FR Citation | 80 FR 58323 |
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