80 FR 60720 - Atomic Safety and Licensing Board; In the Matter of Crow Butte Resources, Inc. (License Renewal for the In Situ Leach Facility, Crawford, Nebraska); Notice of Supplemental Hearing
NUCLEAR REGULATORY COMMISSION Federal Register Volume 80, Issue 194 (October 7, 2015)
Federal Register Volume 80, Issue 194 (October 7, 2015)
| Page Range | 60720-60722 | |
| FR Document | 2015-25533 |
[Federal Register Volume 80, Number 194 (Wednesday, October 7, 2015)] [Notices] [Pages 60720-60722] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-25533] ----------------------------------------------------------------------- NUCLEAR REGULATORY COMMISSION [Docket No. 40-8943; ASLBP No. 08-867-02-OLA-BD01] Atomic Safety and Licensing Board; In the Matter of Crow Butte Resources, Inc. (License Renewal for the In Situ Leach Facility, Crawford, Nebraska); Notice of Supplemental Hearing September 25, 2015. Before Administrative Judges: Michael M. Gibson, Chair, Dr. Richard E. Wardwell, Brian K. Hajek, Alan S. Rosenthal (Special Assistant to the Board). The Atomic Safety and Licensing Board (Board) hereby gives notice that it will convene a supplemental evidentiary hearing to receive testimony regarding Crow Butte Resources' (Crow Butte) contested application to renew its U.S. Nuclear Regulatory Commission (NRC) license to operate an in-situ uranium leach recovery facility near Crawford, Nebraska.\1\ --------------------------------------------------------------------------- \1\ Application for 2007 License Renewal USNRC Source Materials License SUA-1534 Crow Butte License Area (Nov. 2007) (ADAMS Accession No. ML073480264) [hereinafter License Renewal Application]. ``ADAMS'' refers to the NRC's public document management system, and is discussed more below. --------------------------------------------------------------------------- I. Background of Proceeding On May 27, 2008, notice of the Crow Butte License Renewal Application was published in the Federal Register.\2\ Three groups petitioned to intervene as parties in the proceeding and requested an evidentiary hearing be held on the application.\3\ On November 21, 2008, the Board granted two of the petitions,\4\ admitting the Oglala Sioux Tribe and Consolidated Intervenors \5\ as parties.\6\ At that time, the Board admitted nine contentions proposed by the intervenors.\7\ Shortly thereafter, on December 10, 2008, the Board admitted a tenth contention.\8\ The NRC Staff and Crow Butte appealed the Board's admission of the contentions.\9\ On appeal, the Commission affirmed the intervenors' standing, and affirmed the admissibility of four of the ten contentions.\10\ On January 5, 2015, the Oglala Sioux Tribe and Consolidated Intervenors moved to admit new contentions based on the Environmental [[Page 60721]] Assessment,\11\ which the NRC Staff made available on October 27, 2014.\12\ The Board admitted five new contentions, and supplemented one of the four previously admitted contentions.\13\ --------------------------------------------------------------------------- \2\ Notice of Opportunity for Hearing, Crow Butte Resources, Inc., Crawford, NE., In Situ Leach Recovery Facility, 73 FR 30,426 (May 27, 2008). \3\ Oglala Delegation of the Great Sioux Nation Treaty Council Request for Hearing and Petition for Leave to Intervene (July 30, 2008) (ADAMS Accession No. ML082170263); Oglala Sioux Tribe Request for Hearing and/or Petition to Intervene (July 29, 2008) (ADAMS Accession No. ML082170264); Consolidated Request for Hearing and Petition for Leave to Intervene (July 28, 2008) (ADAMS Accession No. ML082170525). \4\ See LBP-08-24, 68 NRC 691, 760 (2008). \5\ Id. Although originally named Consolidated Petitioners, the Board now refers to Beatrice Long Visitor Holy Dance, Debra White Plume, Thomas Kanatakeniate Cook, Loretta Afraid of Bear Cook, Afraid of Bear/Cook Tiwahe, Joe American Horse, Sr., American Horse Tiospaye, Owe Aku/Bring Back the Way, and the Western Nebraska Resources Council as Consolidated Intervenors. \6\ The Board denied a request to intervene by the Oglala Delegation of the Great Sioux Nation Treaty Council, but admitted the delegation as an interested local government body. Id. \7\ Id. at 760-61. \8\ See LBP-08-27, 68 NRC 951, 957 (2008). \9\ NRC Staff's Notice of Appeal of LBP-08-24, Licensing Board's Order of November 21, 2008, and Accompanying Brief (Dec. 10, 2008) (ADAMS Accession No. ML083450781); Crow Butte Resources' Notice of Appeal of LBP-08-24 (Dec. 10, 2008) (ADAMS Accession No. ML083450359). \10\ See CLI-09-9, 69 NRC 331, 366 (2009). \11\ The Oglala Sioux Tribe's Renewed and New Contentions Based on the Final Environmental Assessment (October 2014) (Jan. 5, 2015) (ADAMS Accession No. ML15005A541); Consolidated Intervenors' New Contentions Based on the Final Environmental Assessment (October 2014) (Jan. 5, 2015) (ADAMS Accession No. ML15006A274). \12\ Environmental Assessment Availability Notification, Letter from Marcia Simon, NRC Staff Counsel, to Administrative Judges and Parties (Oct. 27, 2014) (ADAMS Accession No. ML14300A228). The Environmental Assessment was prepared pursuant to the National Environmental Policy Act, 42 U.S.C. 4321 et seq., and the agency's implementing regulations, located in 10 CFR part 51. \13\ LBP-15-11, 81 NRC __, __(slip op. at 59-61) (Mar. 16, 2015). --------------------------------------------------------------------------- From August 24 through August 28, 2015, the Board held an evidentiary hearing under 10 CFR part 2, subpart L procedures. During this evidentiary hearing the parties submitted new exhibits in response to witness testimony and questions from the Board. These exhibits have been admitted,\14\ and the Board has determined that some of the new exhibits raise questions regarding admitted contentions that need to be addressed through additional testimony. As a result, the parties are submitting additional pre-filed testimony to the Board, and a supplemental hearing limited to these new matters will be held on October 23, 2015. --------------------------------------------------------------------------- \14\ Licensing Board Order (Admitting Remaining Exhibits; Scheduling Transcript Corrections) (Sept. 10, 2015) (unpublished); Licensing Board Order (Admitting Exhibits; Scheduling Supplemental Testimony and October Hearing Day) (Sept. 4, 2015) (unpublished). --------------------------------------------------------------------------- II. Matters To Be Considered At the supplemental evidentiary hearing the Board will receive testimony on the following topics:Whether the water levels in the Brule aquifer have lowered due to mining activities; What is the available head in the Basal Chadron/ Chamberlain Pass formation and the maximum anticipated drawdown during Crow Butte's operation and restoration of its mining facility; Whether the results from the four pump tests \15\ demonstrate a hydraulic connection between the Brule and Basal Chadron/ Chamberlain Pass formations; --------------------------------------------------------------------------- \15\ Crow Butte conducted four pump tests to estimate the hydraulic properties of the Basal Chadron and Brule aquifer as a result of pumping water from the uranium-bearing ore zone of the Basal Chadron. --------------------------------------------------------------------------- Whether the Basal Chadron/Chamberlain Pass formation exists beneath the Pine Ridge reservation and its connection (if any) to the Basal Chadron/Chamberlain Pass formation beneath the license renewal area; To what degree (if any) do the additional exhibits that were admitted after the hearing commenced affect the conclusions regarding the structure of the White River feature and the NRC Staff's maximum likelihood modeling; and To what degree (if any) do the additional exhibits that were admitted after the hearing commenced illustrate the groundwater flow directions in the Arikaree and Brule aquifers underlying the Pine Ridge reservation and the license renewal area. III. Date, Time, and Location of the Supplemental Evidentiary Hearing The supplemental hearing will commence on Friday, October 23, 2015, at 10:00 a.m. Eastern Time, 8:00 a.m., Mountain Time, and will continue until complete.\16\ The parties have the opportunity to participate in this supplemental hearing either in person, through video conference, or by telephone. The judges will be present in the Atomic Safety and Licensing Board Panel's Rockville Hearing Room, with a video conference link set up to the Scottsbluff Room of the student center of Chadron State College, 1000 Main Street, Chadron, Nebraska 69337. An Information Technology specialist from the Atomic Safety and Licensing Board Panel will be present in the Scottsbluff Room to assist with the video conference link. Any parties or witnesses unable to attend the hearing either in Rockville or in Chadron will be provided with a call in number and may participate in the hearing by telephone. --------------------------------------------------------------------------- \16\ Funding for the U.S. government for fiscal year 2016 has not yet been appropriated by Congress. The NRC may be able to operate for a limited period of time even without funding appropriated. The parties to this proceeding will be made aware if ASLBP activities must be suspended because the NRC has to shut down. Once funding for ASLBP activities becomes available, the Board will contact the parties either to reaffirm the October 23 supplemental hearing date, or to reschedule the hearing if that proves necessary. --------------------------------------------------------------------------- Members of the public and media are welcome to attend and observe the evidentiary hearing either in the Rockville Hearing Room or in Chadron State College's Scottsbluff Room. The Scottsbluff Room will open at 7:30 a.m. Mountain Time on the day of the hearing. A telephone bridge line will also be provided for members of the public who are unable to travel to either location, but nevertheless wish to listen to the proceeding. The dial in number for this bridge line is (888) 603- 7019, and the passcode for listen-only access to the hearing is 7856326. Participation in the hearing, however, will be limited to the parties' lawyers and witnesses. Please be aware that security measures will be employed at the entrance to both facilities, including searches of hand-carried items such as briefcases or backpacks. No signs, banners, posters, or other displays will be permitted.\17\ No firearms or other weapons will be allowed in either facility, and the Board's Notice regarding weapons, dated July 14, 2015, remains in effect.\18\ Moreover, Chadron State College places additional restrictions on the presence of weapons on campus.\19\ --------------------------------------------------------------------------- \17\ See Procedures for Providing Security Support for NRC Public Meetings/Hearings, 66 FR 31,719 (June 12, 2001). \18\ Licensing Board Notice (Regarding Weapons at Atomic Safety and Licensing Board Proceeding) (July 14, 2015) at 1 (prohibiting the possession of weapons at ``all proceedings conducted in Nebraska by the Atomic Safety and Licensing Board of the U.S. Nuclear Regulatory Commission''). \19\ See Chadron State College Student Handbook 36-37 (2015 rev.), available at http://www.csc.edu/documents/publications/csc_student_handbook.pdf. --------------------------------------------------------------------------- IV. Availability of Documentary Information Regarding the Proceeding Documents relating to Crow Butte's License Renewal Application are available on the NRC Web site at http://www.nrc.gov/info-finder/materials/uranium/licensed-facilities/crow-butte.html. These and other documents related to this proceeding are available for public inspection at the Commission's Public Document Room (PDR), located in One White Flint North, 11555 Rockville Pike (first floor), Rockville, Maryland 20852, or electronically from the publicly available records component of the NRC's document management system (ADAMS). ADAMS is accessible from the NRC Web site at http://www.nrc.gov/reading-rm/adams.html.\20\ Persons who do not have access to ADAMS or who encounter problems in accessing the documents located in ADAMS should contact the NRC PDR reference staff by telephone between 8:00 a.m. and 4:00 p.m. Eastern Time, Monday through Friday (except federal holidays) at (800) 397-4209 or (301) 415-4737, or by sending an email to pdr.resource@nrc.gov. --------------------------------------------------------------------------- \20\ Documents which are determined to contain sensitive or proprietary information may only be available in redacted form. All non-sensitive documents are available in their complete form. --------------------------------------------------------------------------- It is so ordered. Dated: September 25, 2015. [[Page 60722]] For the Atomic Safety and Licensing Board. Michael M. Gibson, Chair, Administrative Judge, Rockville, Maryland. [FR Doc. 2015-25533 Filed 10-6-15; 8:45 am] BILLING CODE 7590-01-P
![60720 Federal Register / Vol. 80, No. 194 / Wednesday, October 7, 2015 / Notices
release criteria for release of the facility The NRC Region III Inspectors evidentiary hearing to receive testimony
for unrestricted use.’’ The AAR performed an inspection at the AAR regarding Crow Butte Resources’ (Crow
Corporation was directed to schedule facility during part of the remediation Butte) contested application to renew its
and plan to characterize the extent of activities. Results of the inspection are U.S. Nuclear Regulatory Commission
the contamination and to decontaminate documented in NRC Inspection Report (NRC) license to operate an in-situ
the area to current NRC release criteria 040–00235/2013–001 (DNMS), dated uranium leach recovery facility near
(ADAMS Accession No. ML110670259). February 24, 2015, (ADAMS Accession Crawford, Nebraska.1
The AAR site was subsequently No. ML15056A162). The report
I. Background of Proceeding
legally divided into the Eastern and concluded that AAR conducted the
Western Parcels. The NRC staff had remediation in accordance with the On May 27, 2008, notice of the Crow
previously evaluated the Eastern Parcel Work Plan. The report also concluded Butte License Renewal Application was
of the AAR site, and in December 2009, that the licensee (Solutient, AAR’s published in the Federal Register.2
determined that the potential dose from contractor) had complied with NRC and Three groups petitioned to intervene as
the Eastern Parcel was in conformance Department of Transportation parties in the proceeding and requested
with the dose criteria for unrestricted regulations for shipments of radioactive an evidentiary hearing be held on the
use (ADAMS Accession No. waste. application.3 On November 21, 2008,
ML093490979). The NRC staff concludes that AAR the Board granted two of the petitions,4
In 2013, the NRC approved a plan to met the commitments to excavate the 32 admitting the Oglala Sioux Tribe and
remediate the Western Parcel of the site specified grids and to dispose the Consolidated Intervenors 5 as parties.6
in accordance with an AAR proposed excavated material offsite at an At that time, the Board admitted nine
Site Remedial Action Work Plan (Work appropriate facility. contentions proposed by the
Plan) as amended (letters dated August Based on the considerations discussed intervenors.7 Shortly thereafter, on
7, 2013, and October 30, 2013; ADAMS above, the NRC staff concluded that: (1) December 10, 2008, the Board admitted
Accession Nos. ML13220A447 and Radioactive material above release a tenth contention.8 The NRC Staff and
ML13308A323, respectively). The Work limits has been properly disposed for Crow Butte appealed the Board’s
Plan proposed that soil within 32 both Eastern and Western Parcels of the admission of the contentions.9 On
specified grids containing thorium be site; (2) reasonable effort has been made appeal, the Commission affirmed the
excavated to a depth of 1 meter (m) and to eliminate residual radioactive intervenors’ standing, and affirmed the
transported offsite for disposal at a contamination; and (3) final site surveys admissibility of four of the ten
facility in Belleville, Michigan, known and associated documentation contentions.10 On January 5, 2015, the
as the Wayne Disposal Facility. The demonstrate that the entire site is Oglala Sioux Tribe and Consolidated
excavated areas were to be backfilled suitable for unrestricted release in Intervenors moved to admit new
with clean fill. accordance with the criteria in 10 CFR contentions based on the Environmental
As part of the review of the Work part 20, subpart E.
Plan, the NRC staff independently Therefore, the AAR site at 12633 1 Application for 2007 License Renewal USNRC
evaluated the dose using a dose Inkster Road, Livonia, Michigan, is Source Materials License SUA–1534 Crow Butte
assessment that staff performed in 2009 suitable for unrestricted use. License Area (Nov. 2007) (ADAMS Accession No.
ML073480264) [hereinafter License Renewal
(ADAMS Accession No. ML093490979), Dated at Rockville, Maryland, this 23rd day Application]. ‘‘ADAMS’’ refers to the NRC’s public
as a basis for determining dose for the of September, 2015. document management system, and is discussed
expected concentrations that would For the Nuclear Regulatory Commission. more below.
remain at the AAR site. The maximum Larry W. Camper,
2 Notice of Opportunity for Hearing, Crow Butte
dose determined by the NRC staff for Resources, Inc., Crawford, NE., In Situ Leach
Director, Division of Decommissioning, Recovery Facility, 73 FR 30,426 (May 27, 2008).
these expected concentrations is 14 Uranium Recovery, and Waste Programs, 3 Oglala Delegation of the Great Sioux Nation
mrem/yr, projected to occur at time Office of Nuclear Material Safety and Treaty Council Request for Hearing and Petition for
around 600 years. Safeguards. Leave to Intervene (July 30, 2008) (ADAMS
From April to July 2014, AAR [FR Doc. 2015–25532 Filed 10–6–15; 8:45 am] Accession No. ML082170263); Oglala Sioux Tribe
Request for Hearing and/or Petition to Intervene
conducted remediation of the 32 grids at BILLING CODE 7590–01–P (July 29, 2008) (ADAMS Accession No.
the site. On May 21, 2015 (ADAMS ML082170264); Consolidated Request for Hearing
Package Accession No. ML15148A656), and Petition for Leave to Intervene (July 28, 2008)
AAR submitted a ‘‘Project Completion NUCLEAR REGULATORY (ADAMS Accession No. ML082170525).
4 See LBP–08–24, 68 NRC 691, 760 (2008).
Report and Request for Approval of COMMISSION 5 Id. Although originally named Consolidated
Unrestricted Use Designation, AAR [Docket No. 40–8943; ASLBP No. 08–867– Petitioners, the Board now refers to Beatrice Long
Corporation, 12633 Inkster Road, 02–OLA–BD01] Visitor Holy Dance, Debra White Plume, Thomas
Livonia, Michigan, 48150, Western Kanatakeniate Cook, Loretta Afraid of Bear Cook,
Parcel, Strategic Waste Excavation and Atomic Safety and Licensing Board; In Afraid of Bear/Cook Tiwahe, Joe American Horse,
Sr., American Horse Tiospaye, Owe Aku/Bring Back
Site Restoration Project’’ (Completion the Matter of Crow Butte Resources, the Way, and the Western Nebraska Resources
Report). The Completion Report states Inc. (License Renewal for the In Situ Council as Consolidated Intervenors.
that the grids specified in the Work Plan Leach Facility, Crawford, Nebraska); 6 The Board denied a request to intervene by the
were excavated. Notice of Supplemental Hearing Oglala Delegation of the Great Sioux Nation Treaty
Council, but admitted the delegation as an
The NRC staff and its contractor
asabaliauskas on DSK5VPTVN1PROD with NOTICES
September 25, 2015. interested local government body. Id.
observed and inspected work at the 7 Id. at 760–61.
AAR site several times during the Before Administrative Judges: Michael M. 8 See LBP–08–27, 68 NRC 951, 957 (2008).
remediation. During the final NRC Gibson, Chair, Dr. Richard E. Wardwell, 9 NRC Staff’s Notice of Appeal of LBP–08–24,
staff’s visit in July 2014, the NRC staff Brian K. Hajek, Alan S. Rosenthal (Special Licensing Board’s Order of November 21, 2008, and
walked the site with a survey Assistant to the Board). Accompanying Brief (Dec. 10, 2008) (ADAMS
Accession No. ML083450781); Crow Butte
instrument and confirmed that the 32 The Atomic Safety and Licensing Resources’ Notice of Appeal of LBP–08–24 (Dec. 10,
specified grids were excavated per the Board (Board) hereby gives notice that it 2008) (ADAMS Accession No. ML083450359).
Work Plan commitment. will convene a supplemental 10 See CLI–09–9, 69 NRC 331, 366 (2009).
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![60722 Federal Register / Vol. 80, No. 194 / Wednesday, October 7, 2015 / Notices
For the Atomic Safety and Licensing set forth in sections A, B, and C below, otherwise specified by a Floor Broker’s
Board. of the most significant parts of such client.’’ The Exchange is also proposing
Michael M. Gibson, statements. to add new Commentary .06 to Rule
Chair, Administrative Judge, Rockville, 6.46 (Responsibilities of Floor Brokers)
Maryland. A. Self-Regulatory Organization’s
and to add language to Rule 6.46
Statement of the Purpose of, and the
[FR Doc. 2015–25533 Filed 10–6–15; 8:45 am] (Discretionary Transaction) that mirrors
Statutory Basis for, the Proposed Rule
BILLING CODE 7590–01–P the language it proposes to add to Rule
Change
6.62(f). The Exchange believes that these
1. Purpose proposed changes, taken together,
SECURITIES AND EXCHANGE The Exchange proposes to amend would result in a change to the default
COMMISSION several rules to address certain order order handling obligations for orders
handling obligations on the part of its sent to Floor Brokers (i.e., the Exchange
[Release No. 34–76063; File No. SR– would consider all orders sent to Floor
NYSEARCA–2015–81] Floor Brokers. Specifically, the
Exchange is proposing to amend Rules Brokers to be ‘‘Not Held’’ by default).
Self-Regulatory Organizations; NYSE 6.62, 6.46, and 6.48 to clarify whether The Exchange notes that Rules 6.46
Arca, Inc.; Notice of Filing and orders sent to Floor Brokers are and 6.48 were based upon rules that
considered ‘‘Held’’ or ‘‘Not Held’’. This were adopted prior to electronic trading
Immediate Effectiveness of Proposed
proposal would enable the Exchange to and, therefore, did not contemplate the
Rule Change Amending Several Rules
compete with options exchanges that interaction between an electronic
to Address Certain Order Handling
have already implemented the types of environment and a trading floor and
Obligations on the Part of Its Floor
changes being proposed here.4 have not been amended to specifically
Brokers
Current Rule 6.62(f) defines whether address that interaction. While it is clear
October 1, 2015. orders sent to Floor Brokers are that Floor Brokers have more discretion
Pursuant to Section 19(b)(1) 1 of the presumed to be ‘‘Held’’ or ‘‘Not Held.’’ 5 with regards to the manner in which
Securities Exchange Act of 1934 (the A ‘‘Not Held’’ order generally is one they represent and execute orders on a
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 where the customer gives the Floor trading floor than does a computer
notice is hereby given that, on Broker discretion in executing the order, routing an order to the Exchange for
September 16, 2015, NYSE Arca, Inc. both with respect to the time of execution, the bounds of the discretion
(the ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed execution and the price (though the have not been entirely clear. Rules 6.46
with the Securities and Exchange customer may specify a limit price), and and 6.48, among others, set certain
Commission (the ‘‘Commission’’) the the Floor Broker works the order over a boundaries to a Floor Broker’s
proposed rule change as described in period of time to avoid market impact discretion, but the Exchange believes
Items I, II, and III below, which Items while seeking best execution of the the current marketplace, with electronic
have been prepared by the self- order. A ‘‘Held’’ order generally is one and floor trading, favors an amendment
regulatory organization. The where the customer seeks a prompt to those boundaries.
Commission is publishing this notice to execution at the best currently available Electronic and floor trading gives
solicit comments on the proposed rule price or prices. clients the choice between an Options
change from interested persons. The Exchange now proposes to Trading Permit (‘‘OTP’’) Holder or OTP
establish in Rules 6.62(f), 6.46, and 6.48 Firm that routes orders to the Exchange
I. Self-Regulatory Organization’s electronically or an OTP Holder or OTP
a different default status for orders sent
Statement of the Terms of Substance of Firm that executes orders via a Floor
to Floor Brokers because the Exchange
the Proposed Rule Change Broker. The Exchange believes that
believes that these provisions are
The Exchange proposes to amend intended to protect against a broker clients are keenly aware that the
several rules to address certain order failing to properly represent and differences between electronic and floor
handling obligations on the part of its ultimately execute orders.6 Specifically trading include at least the following
Floor Brokers. The text of the proposed the Exchange is proposing to amend factors: A computer cannot deviate from
rule change is available on the Rule 6.62(f) to provide that ‘‘[a]n order its programed instructions, whereas a
Exchange’s Web site at www.nyse.com, entrusted to a Floor Broker will be Floor Broker can take into account the
at the principal office of the Exchange, considered a Not Held Order, unless nuance of the marketplace, such as the
and at the Commission’s Public makeup of a particular trading floor, the
Reference Room. 4 See Securities and Exchange Act Release Nos. individuals on that trading floor, and
75299 (June 25, 2015), 80 FR 37700 (July 1, 2015) how the electronic books interact with
II. Self-Regulatory Organization’s (Approval Order); 74990 (May 18, 2015), 80 FR that environment. The Exchange
Statement of the Purpose of, and 29767 (May 22, 2015) (SR–CBOE–2015–047)
believes that clients use Floor Brokers
(Notice). The Exchange notes that, unlike CBOE, the
Statutory Basis for, the Proposed Rule Exchange does not route certain electronic order to precisely because Floor Brokers can take
Change Floor Brokers. Therefore, the Exchange is not into account the nuance of the
In its filing with the Commission, the proposing rule text mirroring CBOE’s rule in this marketplace (i.e., exercise a certain level
regard.
self-regulatory organization included 5 Rule 6.62(f) (Orders Defined) defines a ‘‘Not
of discretion) to potentially provide
statements concerning the purpose of, Held Order’’ as an order that is marked as ‘‘not higher execution quality. The Exchange
and basis for, the proposed rule change held’’, ‘‘NH’’, or ‘‘take time,’’ or ‘‘which bears any likewise believes that if a client did not
want a Floor Broker to use their
asabaliauskas on DSK5VPTVN1PROD with NOTICES
and discussed any comments it received qualifying notation giving discretion as to the price
or time at which such order is to be executed.’’ expertise in the execution of an order,
on the proposed rule change. The text 6 The Exchange notes that at the time these rules
of those statements may be examined at were adopted, virtually all options orders (large or
the client would simply send orders to
the places specified in Item IV below. small and retail or professional) were handled by the Exchange electronically.
The Exchange has prepared summaries, Floor Brokers. Given the discrete profile of orders Given that Floor Brokers have more
handled by Floor Brokers today (generally large size discretion with regards to the manner in
orders and often multi-leg) it is reasonable for Floor
1 15 U.S.C. 78s(b)(1). Brokers to ‘‘work’’ orders that are entrusted to them
which they represent and execute orders
2 15 U.S.C. 78a. because that is the reason a customer would utilize than do computers executing electronic
3 17 CFR 240.19b–4. a Floor Broker in today’s environment. orders, the Exchange is proposing to
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Document Created: 2015-12-15 08:49:38
Document Modified: 2015-12-15 08:49:38
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 80 FR 60720 |
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