81_FR_79279 81 FR 79061 - Information Collection: NRC Forms 542 and 542A, Uniform Low-Level Radioactive Waste Manifest Index and Regional Compact Tabulation, and Continuation Page

81 FR 79061 - Information Collection: NRC Forms 542 and 542A, Uniform Low-Level Radioactive Waste Manifest Index and Regional Compact Tabulation, and Continuation Page

NUCLEAR REGULATORY COMMISSION

Federal Register Volume 81, Issue 218 (November 10, 2016)

Page Range79061-79063
FR Document2016-27125

The U.S. Nuclear Regulatory Commission (NRC) has recently submitted a request for renewal of an existing collection of information to the Office of Management and Budget (OMB) for review. The information collection is entitled, ``NRC Forms 542 and 542A, `Uniform Low-Level Radioactive Waste Manifest Index and Regional Compact Tabulation, and Continuation Page.' ''

Federal Register, Volume 81 Issue 218 (Thursday, November 10, 2016)
[Federal Register Volume 81, Number 218 (Thursday, November 10, 2016)]
[Notices]
[Pages 79061-79063]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-27125]


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

NUCLEAR REGULATORY COMMISSION

[NRC-2015-0282]


Information Collection: NRC Forms 542 and 542A, Uniform Low-Level 
Radioactive Waste Manifest Index and Regional Compact Tabulation, and 
Continuation Page

AGENCY: Nuclear Regulatory Commission.

[[Page 79062]]


ACTION: Notice of submission to the Office of Management and Budget; 
request for comment.

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

SUMMARY: The U.S. Nuclear Regulatory Commission (NRC) has recently 
submitted a request for renewal of an existing collection of 
information to the Office of Management and Budget (OMB) for review. 
The information collection is entitled, ``NRC Forms 542 and 542A, 
`Uniform Low-Level Radioactive Waste Manifest Index and Regional 
Compact Tabulation, and Continuation Page.' ''

DATES: Submit comments by December 12, 2016.

ADDRESSES: Submit comments directly to the OMB reviewer at: Vlad 
Dorjets, Desk Officer, Office of Information and Regulatory Affairs 
(3150-0165), NEOB-10202, Office of Management and Budget, Washington, 
DC 20503; telephone: 202-395-7315, email: [email protected].

FOR FURTHER INFORMATION CONTACT: David Cullison, NRC Clearance Officer, 
U.S. Nuclear Regulatory Commission, Washington, DC 20555-0001; 
telephone: 301-415-2084; email: [email protected].

SUPPLEMENTARY INFORMATION: 

I. Obtaining Information and Submitting Comments

A. Obtaining Information

    Please refer to Docket ID NRC-2015-0282 when contacting the NRC 
about the availability of information for this action. You may obtain 
publicly-available information related to this action by any of the 
following methods:
     Federal Rulemaking Web site: Go to http://www.regulations.gov and search for Docket ID NRC-2015-0282. A copy of 
the collection of information and related instructions may be obtained 
without charge by accessing Docket ID NRC-2015-0282 on this Web site.
     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]. A 
copy of the collection of information and related instructions may be 
obtained without charge by accessing ADAMS Accession No. ML16245A843. 
The supporting statement is available in ADAMS under Accession No. 
ML16245A851.
     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.
     NRC's Clearance Officer: A copy of the collection of 
information and related instructions may be obtained without charge by 
contacting the NRC's Clearance Officer, David Cullison, Office of the 
Chief Information Officer, U.S. Nuclear Regulatory Commission, 
Washington, DC 20555-0001; telephone: 301-415-2084; email: 
[email protected].

B. Submitting Comments

    The NRC cautions you not to include identifying or contact 
information in comment submissions that you do not want to be publicly 
disclosed in your comment submission. All comment submissions are 
posted at http://www.regulations.gov and entered into ADAMS. Comment 
submissions are not routinely edited to remove identifying or contact 
information.
    If you are requesting or aggregating comments from other persons 
for submission to the OMB, then you should inform those persons not to 
include identifying or contact information that they do not want to be 
publicly disclosed in their comment submission. Your request should 
state that comment submissions are not routinely edited to remove such 
information before making the comment submissions available to the 
public or entering the comment into ADAMS.

II. Background

    Under the provisions of the Paperwork Reduction Act of 1995 (44 
U.S.C. Chapter 35), the NRC recently submitted a request for renewal of 
an existing collection of information to OMB for review entitled: ``NRC 
Forms 542 and 542A, `Uniform Low-Level Radioactive Waste Manifest Index 
and Regional Compact Tabulation, and Continuation Page.' '' The NRC 
hereby informs potential respondents that an agency may not conduct or 
sponsor, and that a person is not required to respond to, a collection 
of information unless it displays a currently valid OMB control number.
    The NRC published a Federal Register notice with a 60-day comment 
period on this information collection on June 22, 2016 (81 FR 40725).
    1. The title of the information collection: ``NRC Forms 542 and 
542A, `Uniform Low-Level Radioactive Waste Manifest, Index and Regional 
Compact Tabulation, and Continuation Page.' ''
    2. OMB approval number: 3150-0165.
    3. Type of submission: Extension.
    4. The form number, if applicable: NRC Forms 542 and 542A.
    5. How often the collection is required or requested: Forms are 
used by shippers whenever radioactive waste is shipped. Quarterly or 
less frequent reporting is made to Agreement States depending on 
specific license conditions. No reporting is made to the NRC.
    6. Who will be required or asked to respond: All NRC or Agreement 
State low-level waste facilities licensed pursuant to part 61 of title 
10 of the Code of Federal Regulations (10 CFR) or equivalent Agreement 
State regulations. All generators, collectors, and processors of low-
level waste intended for disposal at a low-level waste facility must 
complete the appropriate forms.
    7. The estimated number of annual responses: 756.
    8. The estimated number of annual respondents: 22.
    9. The estimated number of hours needed annually to comply with the 
information collection requirement or request: 567.
    10. Abstract: NRC Forms 542 and 542A, provide a set of standardized 
forms to meet Department of Transportation (DOT), NRC, and State 
requirements. The forms were developed by NRC at the request of low-
level waste industry groups. The forms provide uniformity and 
efficiency in the collection of information contained in manifests 
which are required to control transfers of low-level radioactive waste 
intended for disposal at a land disposal facility. The NRC Form 542, 
completed by waste collectors or processors, contains information which 
facilitates tracking the identity of the waste generator. That tracking 
becomes more complicated when the waste forms, dimensions, or packaging 
are changed by the waste processor. Each container of waste shipped 
from a waste processor may contain waste from several different 
generators. The information provided on the NRC Form 542 permits the 
States and Compacts to know the original generators of low-level waste, 
as authorized by the Low-Level Radioactive Waste Policy Amendments Act 
of 1985, so they can ensure that waste is disposed of in the 
appropriate Compact.

    Dated at Rockville, Maryland, this 2nd day of November, 2016.


[[Page 79063]]


    For the Nuclear Regulatory Commission.
David Cullison,
NRC Clearance Officer, Office of the Chief Information Officer.
[FR Doc. 2016-27125 Filed 11-9-16; 8:45 am]
 BILLING CODE 7590-01-P



                                                                              Federal Register / Vol. 81, No. 218 / Thursday, November 10, 2016 / Notices                                                 79061

                                                    SUMMARY:   The U.S. Nuclear Regulatory                  the NRC’s PDR, Room O1–F21, One                          5. How often the collection is required
                                                    Commission (NRC) has recently                           White Flint North, 11555 Rockville                    or requested: Forms are used by
                                                    submitted a request for renewal of an                   Pike, Rockville, Maryland 20852.                      shippers whenever radioactive waste is
                                                    existing collection of information to the                 • NRC’s Clearance Officer: A copy of                shipped. Quarterly or less frequent
                                                    Office of Management and Budget                         the collection of information and related             reporting is made to Agreement States
                                                    (OMB) for review. The information                       instructions may be obtained without                  depending on specific license
                                                    collection is entitled, ‘‘NRC Forms 540                 charge by contacting the NRC’s                        conditions. No reporting is made to the
                                                    and 540A, ‘Uniform Low-Level                            Clearance Officer, David Cullison,                    NRC.
                                                    Radioactive Waste Manifest (Shipping                    Office of the Chief Information Officer,                 6. Who will be required or asked to
                                                    Paper) and Continuation Page.’’’                        U.S. Nuclear Regulatory Commission,                   respond: All NRC or Agreement State
                                                    DATES: Submit comments by December                      Washington, DC 20555–0001; telephone:                 low-level waste facilities licensed
                                                    12, 2016.                                               301–415–2084; email:                                  pursuant to part 61 of title 10 of the
                                                    ADDRESSES: Submit comments directly                     INFOCOLLECTS.Resource@nrc.gov.                        Code of Federal Regulations (10 CFR) or
                                                    to the OMB reviewer at: Vlad Dorjets,                   B. Submitting Comments                                equivalent Agreement State regulations.
                                                    Desk Officer, Office of Information and                                                                       All generators, collectors, and
                                                    Regulatory Affairs (3150–0164), NEOB–                     The NRC cautions you not to include                 processors of low-level waste intended
                                                    10202, Office of Management and                         identifying or contact information in                 for disposal at a low-level waste facility
                                                    Budget, Washington, DC 20503;                           comment submissions that you do not                   must complete the appropriate forms.
                                                    telephone: 202–395–7315, email: oira_                   want to be publicly disclosed in your                    7. The estimated number of annual
                                                    submission@omb.eop.gov.                                 comment submission. All comment                       responses: 5,740.
                                                                                                            submissions are posted at http://
                                                    FOR FURTHER INFORMATION CONTACT:
                                                                                                            www.regulations.gov and entered into                     8. The estimated number of annual
                                                    David Cullison, NRC Clearance Officer,                  ADAMS. Comment submissions are not                    respondents: 220.
                                                    U.S. Nuclear Regulatory Commission,                     routinely edited to remove identifying                   9. The estimated number of hours
                                                    Washington, DC 20555–0001; telephone:                   or contact information.                               needed annually to comply with the
                                                    301–415–2084; email:                                      If you are requesting or aggregating                information collection requirement or
                                                    INFOCOLLECTS.Resource@nrc.gov.                          comments from other persons for                       request: 4,305.
                                                    SUPPLEMENTARY INFORMATION:                              submission to the OMB, then you                          10. Abstract: NRC Forms 540 and
                                                    I. Obtaining Information and                            should inform those persons not to                    540A provide a set of standardized
                                                    Submitting Comments                                     include identifying or contact                        forms to meet Department of
                                                                                                            information that they do not want to be               Transportation (DOT), NRC, and State
                                                    A. Obtaining Information                                publicly disclosed in their comment                   requirements. The forms were
                                                       Please refer to Docket ID NRC–2015–                  submission. Your request should state                 developed by NRC at the request of low-
                                                    0281 when contacting the NRC about                      that comment submissions are not                      level waste industry groups. The forms
                                                    the availability of information for this                routinely edited to remove such                       provide uniformity and efficiency in the
                                                    action. You may obtain publicly-                        information before making the comment                 collection of information contained in
                                                    available information related to this                   submissions available to the public or                manifests which are required to control
                                                    action by any of the following methods:                 entering the comment into ADAMS.                      transfers of low-level radioactive waste
                                                       • Federal Rulemaking Web site: Go to                                                                       intended for disposal at a land disposal
                                                                                                            II. Background                                        facility. The NRC Form 540 contains
                                                    http://www.regulations.gov and search
                                                    for Docket ID NRC–2015–0281. A copy                       Under the provisions of the                         information needed to satisfy DOT
                                                    of the collection of information and                    Paperwork Reduction Act of 1995 (44                   shipping paper requirements in 49 CFR
                                                    related instructions may be obtained                    U.S.C. Chapter 35), the NRC recently                  part 172, and the waste tracking
                                                    without charge by accessing Docket ID                   submitted a request for renewal of an                 requirements of the NRC in 10 CFR part
                                                    NRC–2015–0281 on this Web site.                         existing collection of information to                 20.
                                                       • NRC’s Agencywide Documents                         OMB for review entitled: ‘‘NRC Forms                    Dated at Rockville, Maryland, this 2nd day
                                                    Access and Management System                            540 and 540A, ‘Uniform Low-Level                      of November, 2016.
                                                    (ADAMS): You may obtain publicly-                       Radioactive Waste Manifest (Shipping                    For the Nuclear Regulatory Commission.
                                                    available documents online in the                       Paper) and Continuation Page.’ ’’ The                 David Cullison,
                                                    ADAMS Public Documents collection at                    NRC hereby informs potential
                                                                                                                                                                  NRC Clearance Officer, Office of the Chief
                                                    http://www.nrc.gov/reading-rm/                          respondents that an agency may not                    Information Officer.
                                                    adams.html. To begin the search, select                 conduct or sponsor, and that a person is
                                                                                                                                                                  [FR Doc. 2016–27123 Filed 11–9–16; 8:45 am]
                                                    ‘‘ADAMS Public Documents’’ and then                     not required to respond to, a collection
                                                                                                                                                                  BILLING CODE 7590–01–P
                                                    select ‘‘Begin Web-based ADAMS                          of information unless it displays a
                                                    Search.’’ For problems with ADAMS,                      currently valid OMB control number.
                                                    please contact the NRC’s Public                           The NRC published a Federal                         NUCLEAR REGULATORY
                                                    Document Room (PDR) reference staff at                  Register notice with a 60-day comment                 COMMISSION
                                                    1–800–397–4209, 301–415–4737, or by                     period on this information collection on
                                                    email to pdr.resource@nrc.gov. A copy                   June 22, 2016 (81 FR 40728).
                                                                                                                                                                  [NRC–2015–0282]
                                                    of the collection of information and                      1. The title of the information
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                    related instructions may be obtained                    collection: ‘‘NRC Forms 540 and 540A,                 Information Collection: NRC Forms 542
                                                    without charge by accessing ADAMS                       ‘Uniform Low-Level Radioactive Waste                  and 542A, Uniform Low-Level
                                                    Accession No. ML16243A190. The                          Manifest (Shipping Paper) and                         Radioactive Waste Manifest Index and
                                                    supporting statement is available in                    Continuation Page.’ ’’                                Regional Compact Tabulation, and
                                                    ADAMS under Accession No.                                 2. OMB approval number: 3150–0164.                  Continuation Page
                                                    ML16243A194.                                              3. Type of submission: Extension.
                                                       • NRC’s PDR: You may examine and                       4. The form number, if applicable:                  AGENCY:Nuclear Regulatory
                                                    purchase copies of public documents at                  NRC Forms 540 and 540A.                               Commission.


                                               VerDate Sep<11>2014   19:43 Nov 09, 2016   Jkt 241001   PO 00000   Frm 00095   Fmt 4703   Sfmt 4703   E:\FR\FM\10NON1.SGM   10NON1


                                                    79062                     Federal Register / Vol. 81, No. 218 / Thursday, November 10, 2016 / Notices

                                                    ACTION: Notice of submission to the                     ADAMS under Accession No.                                2. OMB approval number: 3150–0165.
                                                    Office of Management and Budget;                        ML16245A851.                                             3. Type of submission: Extension.
                                                    request for comment.                                      • NRC’s PDR: You may examine and
                                                                                                            purchase copies of public documents at                   4. The form number, if applicable:
                                                    SUMMARY:   The U.S. Nuclear Regulatory                  the NRC’s PDR, Room O1–F21, One                       NRC Forms 542 and 542A.
                                                    Commission (NRC) has recently                           White Flint North, 11555 Rockville                       5. How often the collection is required
                                                    submitted a request for renewal of an                   Pike, Rockville, Maryland 20852.                      or requested: Forms are used by
                                                    existing collection of information to the                 • NRC’s Clearance Officer: A copy of                shippers whenever radioactive waste is
                                                    Office of Management and Budget                         the collection of information and related             shipped. Quarterly or less frequent
                                                    (OMB) for review. The information                       instructions may be obtained without                  reporting is made to Agreement States
                                                    collection is entitled, ‘‘NRC Forms 542                 charge by contacting the NRC’s
                                                    and 542A, ‘Uniform Low-Level                                                                                  depending on specific license
                                                                                                            Clearance Officer, David Cullison,                    conditions. No reporting is made to the
                                                    Radioactive Waste Manifest Index and                    Office of the Chief Information Officer,
                                                    Regional Compact Tabulation, and                                                                              NRC.
                                                                                                            U.S. Nuclear Regulatory Commission,
                                                    Continuation Page.’ ’’                                  Washington, DC 20555–0001; telephone:                    6. Who will be required or asked to
                                                    DATES: Submit comments by December                      301–415–2084; email:                                  respond: All NRC or Agreement State
                                                    12, 2016.                                               INFOCOLLECTS.Resource@nrc.gov.                        low-level waste facilities licensed
                                                    ADDRESSES: Submit comments directly                                                                           pursuant to part 61 of title 10 of the
                                                                                                            B. Submitting Comments                                Code of Federal Regulations (10 CFR) or
                                                    to the OMB reviewer at: Vlad Dorjets,
                                                    Desk Officer, Office of Information and                   The NRC cautions you not to include                 equivalent Agreement State regulations.
                                                    Regulatory Affairs (3150–0165), NEOB–                   identifying or contact information in                 All generators, collectors, and
                                                    10202, Office of Management and                         comment submissions that you do not                   processors of low-level waste intended
                                                    Budget, Washington, DC 20503;                           want to be publicly disclosed in your                 for disposal at a low-level waste facility
                                                    telephone: 202–395–7315, email: oira_                   comment submission. All comment                       must complete the appropriate forms.
                                                    submission@omb.eop.gov.                                 submissions are posted at http://
                                                                                                            www.regulations.gov and entered into                     7. The estimated number of annual
                                                    FOR FURTHER INFORMATION CONTACT:                                                                              responses: 756.
                                                    David Cullison, NRC Clearance Officer,                  ADAMS. Comment submissions are not
                                                    U.S. Nuclear Regulatory Commission,                     routinely edited to remove identifying                   8. The estimated number of annual
                                                    Washington, DC 20555–0001; telephone:                   or contact information.                               respondents: 22.
                                                    301–415–2084; email:                                      If you are requesting or aggregating                   9. The estimated number of hours
                                                    INFOCOLLECTS.Resource@nrc.gov.                          comments from other persons for
                                                                                                                                                                  needed annually to comply with the
                                                                                                            submission to the OMB, then you
                                                    SUPPLEMENTARY INFORMATION:                                                                                    information collection requirement or
                                                                                                            should inform those persons not to
                                                                                                            include identifying or contact                        request: 567.
                                                    I. Obtaining Information and
                                                    Submitting Comments                                     information that they do not want to be                  10. Abstract: NRC Forms 542 and
                                                                                                            publicly disclosed in their comment                   542A, provide a set of standardized
                                                    A. Obtaining Information
                                                                                                            submission. Your request should state                 forms to meet Department of
                                                       Please refer to Docket ID NRC–2015–                  that comment submissions are not                      Transportation (DOT), NRC, and State
                                                    0282 when contacting the NRC about                      routinely edited to remove such                       requirements. The forms were
                                                    the availability of information for this                information before making the comment                 developed by NRC at the request of low-
                                                    action. You may obtain publicly-                        submissions available to the public or                level waste industry groups. The forms
                                                    available information related to this                   entering the comment into ADAMS.                      provide uniformity and efficiency in the
                                                    action by any of the following methods:                                                                       collection of information contained in
                                                       • Federal Rulemaking Web site: Go to                 II. Background
                                                                                                                                                                  manifests which are required to control
                                                    http://www.regulations.gov and search                      Under the provisions of the
                                                    for Docket ID NRC–2015–0282. A copy                                                                           transfers of low-level radioactive waste
                                                                                                            Paperwork Reduction Act of 1995 (44
                                                    of the collection of information and                                                                          intended for disposal at a land disposal
                                                                                                            U.S.C. Chapter 35), the NRC recently
                                                    related instructions may be obtained                    submitted a request for renewal of an                 facility. The NRC Form 542, completed
                                                    without charge by accessing Docket ID                   existing collection of information to                 by waste collectors or processors,
                                                    NRC–2015–0282 on this Web site.                         OMB for review entitled: ‘‘NRC Forms                  contains information which facilitates
                                                       • NRC’s Agencywide Documents                         542 and 542A, ‘Uniform Low-Level                      tracking the identity of the waste
                                                    Access and Management System                            Radioactive Waste Manifest Index and                  generator. That tracking becomes more
                                                    (ADAMS): You may obtain publicly-                       Regional Compact Tabulation, and                      complicated when the waste forms,
                                                    available documents online in the                       Continuation Page.’ ’’ The NRC hereby                 dimensions, or packaging are changed
                                                    ADAMS Public Documents collection at                    informs potential respondents that an                 by the waste processor. Each container
                                                    http://www.nrc.gov/reading-rm/                          agency may not conduct or sponsor, and                of waste shipped from a waste processor
                                                    adams.html. To begin the search, select                 that a person is not required to respond              may contain waste from several
                                                    ‘‘ADAMS Public Documents’’ and then                     to, a collection of information unless it             different generators. The information
                                                    select ‘‘Begin Web-based ADAMS                          displays a currently valid OMB control                provided on the NRC Form 542 permits
                                                    Search.’’ For problems with ADAMS,                      number.                                               the States and Compacts to know the
                                                    please contact the NRC’s Public                            The NRC published a Federal
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                                                                                                                                  original generators of low-level waste, as
                                                    Document Room (PDR) reference staff at                  Register notice with a 60-day comment                 authorized by the Low-Level
                                                    1–800–397–4209, 301–415–4737, or by                     period on this information collection on              Radioactive Waste Policy Amendments
                                                    email to pdr.resource@nrc.gov. A copy                   June 22, 2016 (81 FR 40725).                          Act of 1985, so they can ensure that
                                                    of the collection of information and                       1. The title of the information                    waste is disposed of in the appropriate
                                                    related instructions may be obtained                    collection: ‘‘NRC Forms 542 and 542A,
                                                                                                                                                                  Compact.
                                                    without charge by accessing ADAMS                       ‘Uniform Low-Level Radioactive Waste
                                                    Accession No. ML16245A843. The                          Manifest, Index and Regional Compact                    Dated at Rockville, Maryland, this 2nd day
                                                    supporting statement is available in                    Tabulation, and Continuation Page.’ ’’                of November, 2016.



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                                                                              Federal Register / Vol. 81, No. 218 / Thursday, November 10, 2016 / Notices                                                       79063

                                                      For the Nuclear Regulatory Commission.                comments on the proposal. This order                   (‘‘NBB’’)).10 According to the Exchange,
                                                    David Cullison,                                         provides notice of filing of Amendment                 using the NBBO or NBO (NBB), if
                                                    NRC Clearance Officer, Office of the Chief              No. 1 and approves the proposed rule                   available, will more accurately reflect
                                                    Information Officer.                                    change, as modified by Amendment No.                   the then current market, rather than the
                                                    [FR Doc. 2016–27125 Filed 11–9–16; 8:45 am]             1, on an accelerated basis.                            previous day’s closing price or
                                                    BILLING CODE 7590–01–P                                                                                         Exchange BBO.11 The Exchange,
                                                                                                            II. Description of the Proposed Rule
                                                                                                            Change 5                                               however, will continue to use the
                                                                                                                                                                   previous day’s closing price or
                                                    SECURITIES AND EXCHANGE                                    The Exchange currently has in place                 Exchange BBO in certain instances,
                                                    COMMISSION                                              various price check mechanisms and                     such as when the NBBO is locked or
                                                                                                            risk controls that are designed to                     crossed, or when there is no NBO (NBB)
                                                    [Release No. 34–79244; File No. SR–CBOE–                prevent incoming orders and quotes
                                                    2016–053]
                                                                                                                                                                   and the closing price does not cross the
                                                                                                            from automatically executing at                        disseminated NBB (NBO).12
                                                    Self-Regulatory Organizations;                          potentially erroneous prices or to assist
                                                                                                            TPHs with managing their risk.6 The                       CBOE also proposed to apply the limit
                                                    Chicago Board Options Exchange,                                                                                order price parameter to immediate-or-
                                                    Incorporated; Notice of Filing of                       Exchange proposed to amend CBOE
                                                                                                            Rules 6.12(a)(3), 6.13(b)(v), 6.14 and                 cancel orders. According to the
                                                    Amendment No. 1 and Order Granting                                                                             Exchange, such orders also are at risk of
                                                    Accelerated Approval of a Proposed                      8.18 to add new, as well as amend
                                                                                                            current, price protection mechanisms                   execution at extreme and potentially
                                                    Rule Change, as Modified by                                                                                    erroneous prices and thus will benefit
                                                    Amendment No. 1, Relating to Price                      and risk controls to further assist
                                                                                                            brokers in their efforts to prevent errors             from applicability of these checks.13
                                                    Protection Mechanisms and Risk                                                                                 However, the limit order price
                                                    Controls                                                and avoid trading activity that could
                                                                                                            potentially be unwanted or even                        parameter will not apply to orders
                                                    November 4, 2016.                                       disruptive to the market.7                             routed from a PAR workstation or OMT.
                                                                                                                                                                   According to the Exchange, orders
                                                    I. Introduction                                         A. Limit Order Price Parameter for                     routed from a PAR workstation or OMT
                                                       On September 1, 2016, Chicago Board                  Simple Orders                                          are subject to manual handling, and
                                                    Options Exchange, Incorporated                             The Exchange proposed to amend the                  therefore, the Exchange believes the
                                                    (‘‘CBOE’’ or ‘‘Exchange’’) filed with the               limit order price parameter for simple                 PAR or OMT operator will have
                                                    Securities and Exchange Commission                      orders in Rule 6.12(a)(3). Currently, a                evaluated the price of an order based on
                                                    (‘‘Commission’’), pursuant to Section                   simple limit order is routed directly                  then-existing market conditions prior to
                                                    19(b)(1) of the Securities Exchange Act                 from an order entry firm to an order                   submitting the order for electronic
                                                    of 1934 (‘‘Act’’) 1 and Rule 19b–4                      management terminal (‘‘OMT’’)                          execution.14 Thus, there is minimal risk
                                                    thereunder,2 a proposed rule change to                  designated by the order entry firm if a                of execution at an erroneous price. The
                                                    amend current and adopt new price                       limit order to buy (sell) is more than an              limit order price parameter also will not
                                                    protection mechanisms and risk                          acceptable tick distance (‘‘ATD’’) 8                   apply to orders with a stop
                                                    controls for orders and quotes. The                     above (below): (i) The Exchange’s                      contingency.15 According to the
                                                    Commission published the proposed                       previous day’s closing price prior to the              Exchange, buy orders with a stop
                                                    rule change for comment in the Federal                  opening of a series, or (ii) the                       contingency are generally submitted at a
                                                    Register on September 20, 2016.3 On                     disseminated Exchange offer (bid) once                 triggering price that is above the NBO,
                                                    September 21, 2016, the Exchange filed                  a series has opened.9                                  and sell orders with a stop contingency
                                                    Amendment No. 1 to the proposed rule                       The Exchange has now proposed to                    are generally submitted at a triggering
                                                    change.4 The Commission received no                     amend CBOE Rule 6.12(a)(3) to reject a                 price that is below the NBB.16 As a
                                                                                                            simple limit order to buy (sell) generally             result, the Exchange believes these
                                                      1 15  U.S.C. 78s(b)(1).                               when it is more than an ATD above                      orders are expected to be priced outside
                                                      2 17  CFR 240.19b–4.
                                                                                                            (below) the last disseminated national                 the NBBO.17
                                                       3 See Securities Exchange Act Release No. 78839

                                                    (September 14, 2016), 81 FR 64521 (September 20,        best offer (‘‘NBO’’) (national best bid
                                                                                                                                                                      10 Specifically, CBOE will reject the order if it is
                                                    2016) (‘‘Notice’’).
                                                       4 In Amendment No. 1, the Exchange conformed           5A   more detailed description of the proposed       more than the ATD above (below): (i) prior to the
                                                    the text of proposed Rule 6.13(b)(v)(B) to CBOE’s       rule change appears in the Notice. See supra note      opening of a series, (A) the last disseminated
                                                    description in the Notice of the drill through price    3.                                                     national best offer (‘‘NBO’’) (national best bid
                                                    check parameter. Specifically, the amendment               6 See, e.g., CBOE Rules 6.12(a)(3) through (5)      (‘‘NBB’’)), if a series is open on another exchange,
                                                    added detail into the rule to reflect that, pursuant                                                           or (B) the Exchange’s previous day’s closing price,
                                                                                                            (limit order price parameters), 6.13(b)(v) (market-
                                                    to the drill through price check parameter, CBOE                                                               if a series is not yet open on any other exchange;
                                                                                                            width and drill through price check parameters),
                                                    will expose the unexecuted portion of an order via                                                             if the NBBO is locked, crossed, or unavailable; or
                                                                                                            6.14 (price protections), 6.53C, Interpretation and
                                                    HAL at the better of the NBBO and the drill through                                                            if there is no NBO (NBB) and the previous day’s
                                                                                                            Policy .08 (price check parameters for complex
                                                    price. In addition, CBOE also proposed to amend                                                                closing price is greater (less) than or equal to the
                                                                                                            orders), and 8.18 (QRM Mechanism).
                                                    its discussion of existing quote risk monitor              7 The proposed rule change also made conforming
                                                                                                                                                                   NBB (NBO); (ii) intraday, the last disseminated
                                                    functionality to accurately match the existing rule                                                            NBO (NBB), or the Exchange’s best offer (bid) if the
                                                                                                            changes to CBOE Rules 6.2B, 6.13A, and 6.14A. A        NBBO is locked, crossed or unavailable; or (iii)
                                                    text (which involved background discussion of
                                                    functionality that CBOE did not propose to amend        full discussion of those changes may be found in       during a trading halt, the last disseminated NBO
                                                    in the current proposal). To promote transparency       the Notice. See supra note 3.                          (NBB).
                                                                                                               8 Currently, the Exchange determines the ATD,
                                                    of its proposed amendment, when CBOE filed                                                                        11 See Notice, supra note 3 at 64522.
                                                                                                            which may be no less than 5 minimum increment
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                    Amendment No. 1 with the Commission, it also                                                                      12 See id.
                                                    submitted Amendment No. 1 as a comment letter           ticks, on a series-by-series and premium basis.           13 See id. at 64523.
                                                    to the file, which the Commission posted on its         Under the proposed rule change, the ATD, which
                                                                                                                                                                      14 See id.
                                                    Web site and placed in the public comment file for      may be no less than two minimum increment ticks,
                                                                                                                                                                      15 See CBOE Rule 6.53. A stop contingency is
                                                    SR–CBOE–2016–053 (available at https://                 will be determined on a class-by-class and premium
                                                    www.sec.gov/comments/sr-cboe-2016-053/                  basis. In addition, different ATDs may be applied      triggered for a buy order if there is a last sale or
                                                    cboe2016053-1.pdf). The Exchange also posted a          to orders entered during the pre-opening, a trading    bid at or above the stop price and for a sell order
                                                    copy of its Amendment No. 1 on its Web site             rotation, a trading halt, or Extended Trading Hours.   if there is a last sale or offer at or below the stop
                                                    (http://www.cboe.com/aboutcboe/legal/                   See proposed CBOE Rule 6.12(a)(3) and Notice,          price.
                                                    submittedsecfilings.aspx) when it filed the             supra note 3, at 64523 n. 8                               16 See Notice, supra note 3 at 64523.

                                                    amendment with the Commission.                             9 See CBOE Rule 6.12(a)(3).                            17 See id.




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Document Created: 2016-11-10 01:43:58
Document Modified: 2016-11-10 01:43:58
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice of submission to the Office of Management and Budget; request for comment.
DatesSubmit comments by December 12, 2016.
ContactDavid Cullison, NRC Clearance Officer, U.S. Nuclear Regulatory Commission, Washington, DC 20555-0001; telephone: 301-415-2084; email: [email protected]
FR Citation81 FR 79061 

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