81 FR 59670 - Exelon Generation Company, LLC; Calvert Cliffs Nuclear Power Plant, Units 1 and 2; Update Schedule for Updated Final Safety Analysis Report
NUCLEAR REGULATORY COMMISSION Federal Register Volume 81, Issue 168 (August 30, 2016)
Federal Register Volume 81, Issue 168 (August 30, 2016)
| Page Range | 59670-59672 | |
| FR Document | 2016-20804 |
[Federal Register Volume 81, Number 168 (Tuesday, August 30, 2016)] [Notices] [Pages 59670-59672] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-20804] ----------------------------------------------------------------------- NUCLEAR REGULATORY COMMISSION [Docket Nos. 50-317 and 50-318; NRC-2016-0181] Exelon Generation Company, LLC; Calvert Cliffs Nuclear Power Plant, Units 1 and 2; Update Schedule for Updated Final Safety Analysis Report AGENCY: Nuclear Regulatory Commission. ACTION: Exemption; issuance. ----------------------------------------------------------------------- SUMMARY: The U.S. Nuclear Regulatory Commission (NRC) is issuing an exemption in response to a January 29, 2016, application from Exelon Generation Company, LLC (Exelon), the licensee for Calvert Cliffs Nuclear Power Plant (CCNPP), Units 1 and 2, for Renewed Facility Operating License Nos. DPR-53 and DPR-60, which requested an exemption from the updated final safety analysis report (UFSAR) update schedule requirements in the NRC's regulations. The NRC staff reviewed this request and is granting an exemption from the requirement that an update to the UFSAR be submitted 6 months after the refueling outage for each unit. The exemption allows the update to the CCNPP UFSAR to be submitted within 6 months following the completion of each CCNPP Unit 2 refueling outage, not to exceed 24 months from the last submittal. DATES: The exemption was issued on August 18, 2016. ADDRESSES: Please refer to Docket ID NRC-2016-0181 when contacting the NRC about the availability of information regarding this document. You may obtain publicly-available information related to this document using any of the following methods:Federal Rulemaking Web site: Go to http://www.regulations.gov and search for Docket ID NRC-2016-0181. Address questions about NRC dockets to Carol Gallagher; telephone: 301-415- 3463; email: [email protected]. For technical questions, contact the individual listed in the FOR FURTHER INFORMATION CONTACT section of this document. NRC's Agencywide Documents Access and Management System (ADAMS): You may obtain publicly-available documents online in the ADAMS Public Documents collection at http://www.nrc.gov/reading-rm/adams.html. To begin the search, select ``ADAMS Public Documents'' and then select ``Begin Web-based ADAMS Search.'' For problems with ADAMS, please contact the NRC's Public Document Room (PDR) reference staff at 1-800-397-4209, 301-415-4737, or by email to [email protected]. The ADAMS accession number for each document referenced (if it available in ADAMS) is provided the first time that a document is referenced. NRC's PDR: You may examine and purchase copies of public documents at the NRC's PDR, Room O1-F21, One White Flint North, 11555 Rockville Pike, Rockville, Maryland 20852. FOR FURTHER INFORMATION CONTACT: Richard V. Guzman, Office of Nuclear Reactor Regulation, U.S. Nuclear Regulatory Commission, Washington, DC 20555-0001; telephone: 301-415-1030, email: [email protected]. SUPPLEMENTARY INFORMATION: I. Background The CCNPP is a two-unit plant, both units of which share an UFSAR. A strict interpretation of the language contained in 50.71(e)(4) of title 10 of the Code of Federal Regulations (10 CFR), would require Exelon to update this single UFSAR within 6 months after each unit's refueling outage. In August 1992, the NRC promulgated a rule change entitled ``Reducing the Regulatory Burden on Nuclear Licensees,'' which affected 10 CFR 50.71(e)(4). This rule change was published in the Federal Register on August 31, 1992 (57 FR 39358), with an effective date of October 1, 1992, and was intended to provide a reduction in regulatory burden by, in part, providing licensees with the option to submit UFSAR updates once per refueling outage, not to exceed 24 months between successive updates, instead of annually. However, when a single UFSAR is shared between the units of a multi-unit plant and those units have staggered refueling outages (i.e., one unit a year on alternating years), as is the case with CCNPP, 10 CFR 50.71(e)(4) has the net effect of still requiring that the UFSAR be updated annually. Therefore, as written, the burden reduction provided by 10 CFR 50.71(e)(4) of providing licensees with the option to submit UFSAR updates each refueling outage instead of annually can only be realized by single-unit facilities, by multi-unit facilities that maintain separate UFSARs for each unit, or by multi-unit facilities that share a single UFSAR and have non-staggered refueling outages--none of which is the case for CCNPP. Consequently, since CCNPP is a multi-unit facility with a single shared USFAR and a staggered refueling outage schedule, the phrase ``each refueling outage'' in 10 CFR 50.71(e)(4) does not decrease the regulatory burden on the licensee as was the intent of the rule. II. Request/Action Pursuant to 10 CFR 50.12, ``Specific exemptions,'' the licensee has, by application dated January 29, 2016 (ADAMS Accession No. ML16033A048), requested an exemption from the requirements of 10 CFR 50.71, ``Maintenance of records, making of reports,'' paragraph (e)(4), related to the schedule for submitting periodic updates to the CCNPP UFSAR. Pursuant to 10 CFR 50.12(a), the NRC may, upon application by any interested person or upon its own initiative, grant exemptions from the requirements of the regulations of this part, which are authorized by law, will not present an undue risk to the public health and safety, and are consistent with the common defense and security and when special circumstances are present. III. Discussion Pursuant to 10 CFR 50.12, the NRC may, upon application by any interested person or upon its own initiative, grant exemptions from the requirements of 10 CFR part 50, including 10 CFR 50.71(e)(4) when: (1) The exemptions are authorized by law, will not present an undue risk to the public health or safety, and are consistent with the common defense and security; and (2) when special circumstances are present. Under 10 CFR 50.12(a)(2), special circumstances include, among other things, when application of the specific regulation in the particular circumstances would not serve, or is not necessary to achieve, the underlying purpose of the rule. Authorized by Law In accordance with 10 CFR 50.12, the NRC may grant an exemption from the requirements of 10 CFR part 50 if the exemption is authorized by law. The exemption requested in this instance is authorized by law because no other prohibition of law exists to preclude the activities which would be authorized by the exemption. Additionally, even with the granting of the exemption, the underlying purpose of the regulation will continue to be served. The underlying purpose of 10 CFR 50.71(e)(4) is to ensure that licensees periodically update their UFSARs to assure that the UFSARs remain up-to-date such that they accurately reflect the [[Page 59671]] plant design and operation. The rule does not require that licensees review all of the information contained in the UFSAR for each periodic update. Rather, the intent of the rule is for licensees to update only those portions of the UFSAR that have been affected by licensee activities since the previous update. As required by 10 CFR 50.71(e)(4), UFSAR updates shall be submitted within 6 months after each refueling outage provided that the interval between successive updates does not exceed 24 months. Submitting updates to the single shared CCNPP UFSAR 6 months after the CCNPP Unit 2 refueling outage as proposed and not exceeding 24 months between successive updates continues to meet the intent of the regulation from the perspective of regulatory burden reduction and maintaining UFSAR information up-to- date. Therefore, this exemption request is authorized by law. No Undue Risk to the Public Health and Safety The underlying purpose of 10 CFR 50.71(e)(4) is to ensure that licensees periodically update their UFSARs to assure that the UFSARs remain up-to-date such that they accurately reflect the plant design and operation. The NRC has determined by rule that an update frequency not exceeding 24 months between successive updates is acceptable for maintaining UFSAR content up-to-date. The requested exemption provides an equivalent level of protection to the existing requirements because it ensures that updates to the CCNPP UFSAR are submitted with no greater than 24 months between successive updates. The requested exemption also meets the intent of the rule for regulatory burden reduction. Additionally, based on the nature of the requested exemption and that updates will not exceed 24 months from the last submittal as described above, no new accident precursors are created by the exemption; therefore, neither the probability nor the consequences of postulated accidents are increased. In conclusion, the requested exemption does not result in any undue risk to the public health and safety. Consistent With the Common Defense and Security The requested exemption from 10 CFR 50.71(e)(4) would allow Exelon to submit its periodic updates to the CCNPP UFSAR within 6 months following the completion of each CCNPP Unit 2 refueling outage, not to exceed 24 months from the last submittal. Neither the regulation nor the proposed exemption thereto has any relation to security issues. Therefore, the common defense and security is not impacted by the exemption. Special Circumstances Special circumstances, in accordance with 10 CFR 50.12(a)(2)(ii), are present whenever application of the regulation in the particular circumstances would not serve the underlying purpose of the rule or is not necessary to achieve the underlying purpose of the rule. As explained above, the rule change promulgated in August 1992 (57 FR 39358; August 31, 1992) was intended to provide a reduction in regulatory burden by providing licensees with the option to submit UFSAR updates once per refueling outage, not to exceed 24 months between successive updates, instead of annually. However, as written, this burden reduction can only be realized by single-unit facilities, by multi-unit facilities that maintain separate UFSARs for each unit, or by multi-unit facilities that share a single UFSAR and have non- staggered refueling outages--none of which is the case for CCNPP. Since CCNPP is a dual-unit facility with a single shared UFSAR and staggered refueling outages, the phrase ``each refueling outage'' in 10 CFR 50.71(e)(4) does not decrease the regulatory burden on the licensee as was the intent of the rule. Therefore, special circumstances exist under 10 CFR 50.12(a)(2)(ii) in that application of the requirements in these particular circumstances would not serve the underlying purpose of the rule and are not necessary to achieve the underlying purpose of the rule. Environmental Considerations With respect to its impact on the quality of the human environment, the NRC has determined that the issuance of the exemption discussed herein meets the eligibility criteria for categorical exclusion set forth in 10 CFR 51.22(c)(25). Under 10 CFR 51.22(c)(25), the granting of an exemption from the requirements of any regulation of 10 CFR chapter I (which includes 10 CFR 50.71(e)(4)) is an action that is a categorical exclusion. The NRC staff's determination that all of the criteria for this categorical exclusion are met is as follows: I. 10 CFR 51.22(c)(25)(i): There is no significant hazards consideration. Staff Analysis: The criteria for determining whether an action involves a significant hazards consideration are found in 10 CFR 50.92. The proposed action involves only a schedule change regarding the submission of an update to the application. Therefore, there are no significant hazard considerations because granting the exemption would not: (1) Involve a significant increase in the probability or consequences of an accident previously evaluated; or (2) Create the possibility of a new or different kind of accident from any accident previously evaluated; or (3) Involve a significant reduction in a margin of safety. II. 10 CFR 51.22(c)(25)(ii): There is no significant change in the types or significant increase in the amounts of any effluents that may be released offsite. Staff Analysis: The proposed action involves only a schedule change, which is administrative in nature, and does not involve any changes in the types or significant increase in the amounts of any effluents that may be released offsite. III. 10 CFR 51.22(c)(25)(iii): There is no significant increase in individual or cumulative public or occupational radiation exposure. Staff Analysis: Since the proposed action involves only a schedule change, which is administrative in nature, it does not contribute to any significant increase in occupational or public radiation exposure. IV. 10 CFR 51.22(c)(25)(iv): There is no significant construction impact. Staff Analysis: Since the proposed action involves only a schedule change, which is administrative in nature, it does not involve any construction impact. V. 10 CFR 51.22(c)(25)(v): There is no significant increase in the potential for or consequences from radiological accidents. Staff Analysis: The proposed action involves only a schedule change, which is administrative in nature and does not impact the potential for or consequences from accidents. VI. 10 CFR 51.22(c)(25)(vi): The requirements from which the exemption is sought involve scheduling requirements and other requirements of an administrative, managerial, or organizational nature. Staff Analysis: The proposed action involves scheduling requirements and other requirements of an administrative, managerial, or organizational nature because it is associated with the submittal schedule requirements contained in 10 CFR 50.71(e)(4), which stipulate that revisions to the UFSAR must be filed annually or 6 months after each refueling outage provided the interval between successive updates does not exceed 24 months. Based on the above, the NRC staff concludes that the proposed exemption [[Page 59672]] meets the eligibility criteria for the categorical exclusion set forth in 10 CFR 51.22(c)(25). Therefore, in accordance with 10 CFR 51.22(b), no environmental impact statement or environmental assessment need be prepared in connection with the NRC's issuance of this exemption. IV. Conclusions The NRC has determined that, pursuant to 10 CFR 50.12, the exemption is authorized by law, will not present an undue risk to the public health and safety, and is consistent with the common defense and security. Also, special circumstances pursuant to 10 CFR 50.12(a)(2)(ii) are present. Therefore, the NRC hereby grants Exelon an exemption from the requirements of 10 CFR 50.71(e)(4) to allow Exelon to file its periodic updates to the CCNPP UFSAR within 6 months following the completion of each CCNPP Unit 2 refueling outage, not to exceed 24 months from the last submittal. Dated at Rockville, Maryland, this 22nd Day of August 2016. For the Nuclear Regulatory Commission. Anne T. Boland, Director, Division of Operating Reactor Licensing, Office of Nuclear Reactor Regulation. [FR Doc. 2016-20804 Filed 8-29-16; 8:45 am] BILLING CODE 7590-01-P
![59670 Federal Register / Vol. 81, No. 168 / Tuesday, August 30, 2016 / Notices
For the Nuclear Regulatory Commission. ADAMS Public Documents collection at which is the case for CCNPP.
Carl F. Lyon, http://www.nrc.gov/reading-rm/ Consequently, since CCNPP is a multi-
Project Manager, Plant Licensing Branch IV– adams.html. To begin the search, select unit facility with a single shared USFAR
1, Division of Operating Reactor Licensing, ‘‘ADAMS Public Documents’’ and then and a staggered refueling outage
Office of Nuclear Reactor Regulation. select ‘‘Begin Web-based ADAMS schedule, the phrase ‘‘each refueling
[FR Doc. 2016–20807 Filed 8–29–16; 8:45 am] Search.’’ For problems with ADAMS, outage’’ in 10 CFR 50.71(e)(4) does not
BILLING CODE 7590–01–P please contact the NRC’s Public decrease the regulatory burden on the
Document Room (PDR) reference staff at licensee as was the intent of the rule.
1–800–397–4209, 301–415–4737, or by II. Request/Action
NUCLEAR REGULATORY email to pdr.resource@nrc.gov. The
COMMISSION ADAMS accession number for each Pursuant to 10 CFR 50.12, ‘‘Specific
document referenced (if it available in exemptions,’’ the licensee has, by
[Docket Nos. 50–317 and 50–318; NRC–
2016–0181] ADAMS) is provided the first time that application dated January 29, 2016
a document is referenced. (ADAMS Accession No. ML16033A048),
Exelon Generation Company, LLC; • NRC’s PDR: You may examine and requested an exemption from the
Calvert Cliffs Nuclear Power Plant, purchase copies of public documents at requirements of 10 CFR 50.71,
Units 1 and 2; Update Schedule for the NRC’s PDR, Room O1–F21, One ‘‘Maintenance of records, making of
Updated Final Safety Analysis Report White Flint North, 11555 Rockville reports,’’ paragraph (e)(4), related to the
Pike, Rockville, Maryland 20852. schedule for submitting periodic
AGENCY: Nuclear Regulatory updates to the CCNPP UFSAR. Pursuant
Commission. FOR FURTHER INFORMATION CONTACT:
to 10 CFR 50.12(a), the NRC may, upon
ACTION: Exemption; issuance.
Richard V. Guzman, Office of Nuclear
application by any interested person or
Reactor Regulation, U.S. Nuclear
upon its own initiative, grant
SUMMARY: The U.S. Nuclear Regulatory Regulatory Commission, Washington,
exemptions from the requirements of
Commission (NRC) is issuing an DC 20555–0001; telephone: 301–415–
the regulations of this part, which are
exemption in response to a January 29, 1030, email: Richard.Guzman@nrc.gov.
authorized by law, will not present an
2016, application from Exelon SUPPLEMENTARY INFORMATION: undue risk to the public health and
Generation Company, LLC (Exelon), the
I. Background safety, and are consistent with the
licensee for Calvert Cliffs Nuclear Power
common defense and security and when
Plant (CCNPP), Units 1 and 2, for The CCNPP is a two-unit plant, both special circumstances are present.
Renewed Facility Operating License units of which share an UFSAR. A strict
Nos. DPR–53 and DPR–60, which interpretation of the language contained III. Discussion
requested an exemption from the in 50.71(e)(4) of title 10 of the Code of Pursuant to 10 CFR 50.12, the NRC
updated final safety analysis report Federal Regulations (10 CFR), would may, upon application by any interested
(UFSAR) update schedule requirements require Exelon to update this single person or upon its own initiative, grant
in the NRC’s regulations. The NRC staff UFSAR within 6 months after each exemptions from the requirements of 10
reviewed this request and is granting an unit’s refueling outage. In August 1992, CFR part 50, including 10 CFR
exemption from the requirement that an the NRC promulgated a rule change 50.71(e)(4) when: (1) The exemptions
update to the UFSAR be submitted 6 entitled ‘‘Reducing the Regulatory are authorized by law, will not present
months after the refueling outage for Burden on Nuclear Licensees,’’ which an undue risk to the public health or
each unit. The exemption allows the affected 10 CFR 50.71(e)(4). This rule safety, and are consistent with the
update to the CCNPP UFSAR to be change was published in the Federal common defense and security; and (2)
submitted within 6 months following Register on August 31, 1992 (57 FR when special circumstances are present.
the completion of each CCNPP Unit 2 39358), with an effective date of October Under 10 CFR 50.12(a)(2), special
refueling outage, not to exceed 24 1, 1992, and was intended to provide a circumstances include, among other
months from the last submittal. reduction in regulatory burden by, in things, when application of the specific
DATES: The exemption was issued on part, providing licensees with the regulation in the particular
August 18, 2016. option to submit UFSAR updates once circumstances would not serve, or is not
ADDRESSES: Please refer to Docket ID per refueling outage, not to exceed 24 necessary to achieve, the underlying
NRC–2016–0181 when contacting the months between successive updates, purpose of the rule.
NRC about the availability of instead of annually. However, when a
single UFSAR is shared between the Authorized by Law
information regarding this document.
You may obtain publicly-available units of a multi-unit plant and those In accordance with 10 CFR 50.12, the
information related to this document units have staggered refueling outages NRC may grant an exemption from the
using any of the following methods: (i.e., one unit a year on alternating requirements of 10 CFR part 50 if the
• Federal Rulemaking Web site: Go to years), as is the case with CCNPP, 10 exemption is authorized by law. The
http://www.regulations.gov and search CFR 50.71(e)(4) has the net effect of still exemption requested in this instance is
for Docket ID NRC–2016–0181. Address requiring that the UFSAR be updated authorized by law because no other
questions about NRC dockets to Carol annually. Therefore, as written, the prohibition of law exists to preclude the
Gallagher; telephone: 301–415–3463; burden reduction provided by 10 CFR activities which would be authorized by
email: Carol.Gallagher@nrc.gov. For 50.71(e)(4) of providing licensees with the exemption. Additionally, even with
technical questions, contact the the option to submit UFSAR updates the granting of the exemption, the
mstockstill on DSK3G9T082PROD with NOTICES
individual listed in the FOR FURTHER each refueling outage instead of underlying purpose of the regulation
INFORMATION CONTACT section of this annually can only be realized by single- will continue to be served. The
document. unit facilities, by multi-unit facilities underlying purpose of 10 CFR
• NRC’s Agencywide Documents that maintain separate UFSARs for each 50.71(e)(4) is to ensure that licensees
Access and Management System unit, or by multi-unit facilities that periodically update their UFSARs to
(ADAMS): You may obtain publicly- share a single UFSAR and have non- assure that the UFSARs remain up-to-
available documents online in the staggered refueling outages—none of date such that they accurately reflect the
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![59672 Federal Register / Vol. 81, No. 168 / Tuesday, August 30, 2016 / Notices
meets the eligibility criteria for the adopt Limit Order Protections (‘‘LOP’’). infrastructures than other market
categorical exclusion set forth in 10 CFR The proposed rule changes were participants and are able to manage
51.22(c)(25). Therefore, in accordance published for comment in the Federal their risk, particularly with respect to
with 10 CFR 51.22(b), no environmental Register on July 13, 2016.3 On July 28, quoting, using tools that may not be
impact statement or environmental 2016, each of the Exchanges filed an available to other market participants.8
assessment need be prepared in Amendment No. 1 to its proposed rule Moreover, according to the Exchanges,
connection with the NRC’s issuance of change (collectively ‘‘Amendments No. the ISO designation on an order
this exemption. 1’’).4 The Commission received no presumes that the market participant
comment letters on the proposals. The has satisfied its obligation to route to all
IV. Conclusions
Commission is publishing this notice to protected quotes with a price that is
The NRC has determined that, solicit comments on the Exchanges’
pursuant to 10 CFR 50.12, the superior to the limit price of the ISO.9
proposals, as modified by Amendments
exemption is authorized by law, will not No. 1, from interested persons and is As proposed, LOP would be
present an undue risk to the public approving the Exchanges’ proposals, as operational each trading day but would
health and safety, and is consistent with modified by Amendments No. 1, on an not be operational during trading halts
the common defense and security. Also, accelerated basis. and pauses.10 On Nasdaq, LOP also
special circumstances pursuant to 10 would not be operational for orders
CFR 50.12(a)(2)(ii) are present. II. Description of the Proposed Rule designated for the opening, re-opening,
Therefore, the NRC hereby grants Changes, as Modified by Amendments
and closing crosses and initial public
Exelon an exemption from the No. 1
offerings.11 According to Nasdaq, the
requirements of 10 CFR 50.71(e)(4) to Each of the Exchanges proposes to opening, re-opening, closing, and initial
allow Exelon to file its periodic updates adopt LOP, which is a new mandatory public offering processes already have
to the CCNPP UFSAR within 6 months feature designed to prevent certain their own price protections, and these
following the completion of each Limit Orders at prices outside of pre-set processes involve certain price
CCNPP Unit 2 refueling outage, not to standard limits (‘‘LOP Limit’’) from discovery features that are important in
exceed 24 months from the last being accepted by the System.5 arriving at the best price.12
submittal. As proposed, LOP would apply to all
Quotes and Orders, including any As proposed, LOP would reject
Dated at Rockville, Maryland, this 22nd
modified Orders,6 but would not apply incoming Limit Orders that exceed the
Day of August 2016.
to Market Orders, Market Maker Peg LOP Reference Threshold.13 The LOP
For the Nuclear Regulatory Commission.
Orders, and Intermarket Sweep Orders Reference Threshold for buy orders
Anne T. Boland,
(‘‘ISOs’’).7 According to the Exchanges, would be the LOP Reference Price (i.e.,
Director, Division of Operating Reactor the current National Best Offer) plus the
Licensing, Office of Nuclear Reactor
Market Maker Peg Orders are designed
Regulation. to assist Market Makers with meeting applicable LOP Limit and the LOP
their quoting obligations, and Market Reference Threshold for sell orders
[FR Doc. 2016–20804 Filed 8–29–16; 8:45 am]
Makers have more sophisticated would be the LOP Reference Price (i.e.,
BILLING CODE 7590–01–P
the current National Best Bid) minus the
3 See Securities Exchange Act Release Nos. 78244
applicable LOP Limit.14 The LOP Limit
(July 7, 2016), 81 FR 45320 (‘‘BX Notice’’); 78246 would be the greater of 10% of the LOP
SECURITIES AND EXCHANGE (July 7, 2016), 81 FR 45332 (‘‘Nasdaq Notice’’); and
78245 (July 7, 2016), 81 FR 45337 (‘‘Phlx Notice’’). Reference Price or $0.50 for all
COMMISSION
4 Each of the Exchanges specified in its securities across all trading sessions.15
[Release No. 34–78667; File Nos. SR–BX– Amendment No. 1 that LOP would not apply if LOP would not apply if there is no
2016–037; SR–NASDAQ–2016–067; SR– there is no established LOP Reference Price, or if established LOP Reference Price (e.g.,
Phlx–2016–58) the National Best Bid, when used as the LOP
Reference Price, is equal to or less than $0.50. In there is a one-sided quote), or if the
Self-Regulatory Organizations; addition, in its Amendment No. 1, Nasdaq clarified National Best Bid, when used as the
that it reserves the ability to temporarily disable
NASDAQ BX, Inc.; The Nasdaq Stock LOP for certain securities in the event of 8 See BX Notice, supra note 3, at 45321; Nasdaq
Market LLC; NASDAQ PHLX LLC; extraordinary market conditions and explained the
Notice, supra note 3, at 45333; and Phlx Notice,
Notice of Filing of Amendments No. 1 process for temporarily disabling LOP. Nasdaq also
supra note 3, at 45338.
and Order Granting Accelerated clarified that LOP would not be operational for 9 See BX Notice, supra note 3, at 45321; Nasdaq
orders designated for the re-opening cross, and
Approval of Proposed Rule Changes, further explained the existing protections for the Notice, supra note 3, at 45333; and Phlx Notice,
as Modified by Amendments No. 1, To Nasdaq opening, re-opening, and closing crosses supra note 3, at 45338. See also BX Rule 4703(j);
Nasdaq Rule 4703(j); and PSX Rule 3301B(j)
Adopt Limit Order Protections and initial public offerings. Amendment No. 1 to
(discussing ISOs).
the BX filing is available at https://www.sec.gov/
10 See proposed BX Rule 4757(d)(i); proposed
August 24, 2016. comments/sr-bx-2016-037/bx2016037-1.pdf.
Amendment No. 1 to the Nasdaq filing is available Nasdaq Rule 4757(c)(i); and proposed PSX Rule
I. Introduction at https://www.sec.gov/comments/sr-nasdaq-2016- 3307(f)(i).
11 See proposed Nasdaq Rule 4757(c)(i) and
067/nasdaq2016067-1.pdf (‘‘Nasdaq Amendment
On June 24, 2016, NASDAQ BX, Inc. No. 1’’). Amendment No. 1 to the Phlx filing is Nasdaq Amendment No. 1, supra note 4.
(‘‘BX’’), The Nasdaq Stock Market LLC available at https://www.sec.gov/comments/sr-phlx- 12 See Nasdaq Amendment No. 1, supra note 4.
(‘‘Nasdaq’’), and NASDAQ PHLX LLC 2016-58/phlx201658-1.pdf. 13 Specifically, a buy Limit Order would be
5 See proposed BX Rule 4757(d); proposed rejected if the price of the Limit Order is greater
(‘‘Phlx,’’ and together with BX and
Nasdaq Rule 4757(c); and proposed NASDAQ OMX than the LOP Reference Threshold and a sell Limit
Nasdaq, ‘‘Exchanges’’) filed with the PSX (‘‘PSX’’) Rule 3307(f). Order would be rejected if the price of the Limit
mstockstill on DSK3G9T082PROD with NOTICES
Securities and Exchange Commission 6 The Exchanges state that if an order is modified, Order is less than the LOP Reference Threshold. See
(‘‘Commission’’), pursuant to Section LOP would review the order anew and, if LOP is proposed BX Rule 4757(d)(v); proposed Nasdaq
19(b)(1) of the Securities Exchange Act triggered, the modification would not take effect Rule 4757(c)(v); and proposed PSX Rule 3307(f)(v).
of 1934 (‘‘Act’’) 1 and Rule 19b–4 and the original order would be rejected. See BX 14 See proposed BX Rule 4757(d)(iii)–(iv);
Notice, supra note 3, at n.5; Nasdaq Notice, supra proposed Nasdaq Rule 4757(c)(iii)–(iv); and
thereunder,2 proposed rule changes to note 3, at n.4; and Phlx Notice, supra note 3, at n.4. proposed PSX Rule 3307(f)(iii)–(iv).
7 See proposed BX Rule 4757(d)(i); proposed 15 See proposed BX Rule 4757(d)(ii); proposed
1 15 U.S.C. 78s(b)(1). Nasdaq Rule 4757(c)(i); and proposed PSX Rule Nasdaq Rule 4757(c)(ii); and proposed PSX Rule
2 17 CFR 240.19b–4. 3307(f)(i). 3307(f)(ii).
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Document Created: 2018-02-09 11:42:18
Document Modified: 2018-02-09 11:42:18
| 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 | |
| Action | Exemption; issuance. | |
| Dates | The exemption was issued on August 18, 2016. | |
| Contact | Richard V. Guzman, Office of Nuclear Reactor Regulation, U.S. Nuclear Regulatory Commission, Washington, DC 20555-0001; telephone: 301-415-1030, email: [email protected] | |
| FR Citation | 81 FR 59670 |
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