64904 Federal Register / Vol. 83, No. 242 / Tuesday, December 18, 2018 / Notices 

1 15 U.S.C.78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

forward for disposition of the LANL 

Waste. While the WIPP Facility has 

resumed operations, some of the LANL 

Waste at the WCS Site cannot be 

shipped off the WCS Site at this time 

because it does not meet DOT shipping 

requirements. WCS has indicated that it 

will not be able to ship the LANL Waste 

to another appropriate location by the 

timeframe specified in the 2014 Order 

Condition 8.B.4, as modified by NRC 

letter dated September 23, 2016. 

The purpose of this EA is to assess the 

potential environmental impacts of the 

WCS request to modify the 2014 Order 

Condition 8.B.4. for the second time to 

allow WCS to store the LANL Waste at 

specific locations at the WCS Site for 

additional two years, until December 23, 

2020. This EA does not approve or deny 

the requested action. 

Environmental Impacts of the Proposed 

Action 

The NRC does not expect changes in 

radiation hazards to workers or to the 

environment. WCS will continue to 

ensure that the LANL Waste in both the 

FWF disposal cell and the TSDF remain 

stored safely and securely, and will 

notify the NRC of any events as 

appropriate, as set out in the 2014 

Order. No changes to its handling or 

associated hazards would occur as a 

result of granting the requested change. 

Other environmental impacts would be 

the same as evaluated in the EA that 

supported the 2014 Order, as well as the 

2001, 2004, and 2009 Orders, as 

applicable to the activities associated 

with the continued safe storage of the 

LANL Waste. 

Environmental Impacts of the 

Alternatives to the Proposed Action 

As an alternative to the proposed 

action, the NRC staff could deny the 

WCS request and therefore, not issue a 

second modification to the Order 

Condition 8.B.4. that would authorize 

continued storage of the LANL Waste at 

the WCS Site (i.e., the ‘‘no action’’ 

alternative). Upon expiration of the 

timeframe in the 2014 Order Condition 

8.B.4., as modified by the September 23, 

2016 NRC letter to WCS, WCS would 

still be required to maintain the material 

safely. In addition, the NRC 

authorization of any change to the 

current storage of the LANL Waste at the 

WCS Site would still be required and 

WCS has submitted no such proposal to 

the NRC. As a result, under this 

alternative, there would be no 

environmental impacts different from 

the proposed action, although WCS 

would be required to secure a license or 

other regulatory authorization for the 

storage of the material or potentially be 

in violation of 10 CFR part 70 upon the 

expiration of the term in the 2014 Order 

Condition 8.B.4. 

Thus, the ‘‘no action’’ alternative 

would not result in changes to the 

environmental impacts evaluated in the 

NRC’s prior EAs that supported the 

2014 Order or the previous NRC orders. 

Those prior EAs concluded that there 

would be no significant radiological or 

non-radiological environmental impacts 

associated with the storage of SNM at 

the WCS Site, consistent with the 

conditions in those NRC Orders. 

Agencies and Persons Consulted 

On December 3, 2018, the staff 

consulted with TCEQ by providing a 

draft of the EA for review and comment. 

By letter dated December 7, 2018 

(ADAMS Accession No. ML18344A091), 

TCEQ provided comments on and 

recommended corrections to the draft 

EA. The NRC staff modified the EA to 

appropriately address the TCEQ 

comments and recommended 

corrections. 

The proposed action does not involve 

the development or disturbance of 

additional land. Hence, the NRC has 

determined that the proposed action 

will not affect listed endangered or 

threatened species or their critical 

habitat. Therefore, no further 

consultation is required under Section 7 

of the Endangered Species Act. 

Likewise, the NRC staff has determined 

that the proposed action does not have 

the potential to adversely affect cultural 

resources because no ground disturbing 

activities are associated with the 

proposed action. Therefore, no 

consultation is required under Section 

106 of the National Historic 

Preservation Act. 

III. Finding of No Significant Impact 

The NRC has reviewed the WCS 

August 30, 2018, request to supplement 

the 2014 Order again to extend the 

possession time of the LANL Waste at 

specific locations at the WCS Site. The 

NRC has found that effluent releases 

and potential radiological doses to the 

public are not anticipated to change as 

a result of this action and that 

occupational exposures are expected to 

remain within regulatory limits and as 

low as reasonably achievable. On the 

basis of this environmental assessment, 

the NRC concludes that the proposed 

action will not have a significant effect 

on the quality of the human 

environment. Accordingly, the NRC has 

determined not to prepare an 

environmental impact statement for the 

proposed action. 

Dated at Rockville, Maryland, this 12th day 

of December 2018. 

For the Nuclear Regulatory Commission. 

John R. Tappert, 

Director, Division of Decommissioning, 

Uranium Recovery, and Waste Programs, 

Office of Nuclear Material Safety and 

Safeguards. 

[FR Doc. 2018–27323 Filed 12–17–18; 8:45 am] 

BILLING CODE 7590–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–84805; File No. SR– 

NYSENAT–2018–25] 

Self-Regulatory Organizations; NYSE 

National, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Its Schedule of 

Fees and Rebates 

December 12, 2018. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on 

November 30, 2018, NYSE National, Inc. 

(the ‘‘Exchange’’ or ‘‘NYSE National’’) 

filed with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the selfregulatory organization. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend its 

Schedule of Fees and Rebates to adopt 

a new Step Up Adding Tier that would 

set forth fees for displayed and nondisplayed orders that add liquidity to 

the Exchange. The Exchange proposes to 

implement the rule change on December 

3, 2018. The proposed rule change is 

available on the Exchange’s website at 

www.nyse.com, at the principal office of 

the Exchange, and at the Commission’s 

Public Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

self-regulatory organization included 

statements concerning the purpose of, 

and basis for, the proposed rule change 

and discussed any comments it received 

on the proposed rule change. The text 

of those statements may be examined at 


amozie on DSK3GDR082PROD with NOTICES
Federal Register / Vol. 83, No. 242 / Tuesday, December 18, 2018 / Notices 64905 

4The term ‘‘BBO’’ is defined in Rule 1.1 to mean 

the best bid or offer that is a Protected Quotation 

on the Exchange. The term ‘‘BB’’ means the best bid 

that is a Protected Quotation on the Exchange and 

the term ‘‘BO’’ means the best offer that is a 

Protected Quotation on the Exchange. 

5The Exchange also proposes non-substantive 

changes to Adding Tier 1 to change the ‘‘m’’ in 

‘‘More’’ to lower case and to Adding Tiers 2, 3 and 

4 to remove superfluous commas following the 

word ‘‘share’’ in the adding MPL fee. 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(4) & (5). 8 15 U.S.C. 78f(b)(8). 

the places specified in Item IV below. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend its 

Schedule of Fees and Rebates to adopt 

a new Step Up Adding Tier that would 

set forth fees for displayed and nondisplayed orders that add liquidity to 

the Exchange. 

The Exchange proposes to implement 

the rule change on December 3, 2018. 

Proposed Step Up Adding Tier 

The Exchange proposes a new Step 

Adding Tier for displayed and nondisplayed orders in securities priced at 

or above $1.00. 

Under the proposed Step Up Adding 

Tier, the Exchange would offer the 

following fees for transactions in stocks 

with a per share price of $1.00 or more 

when adding liquidity to the Exchange 

if the ETP Holder has 0.04% or more of 

Adding ADV as a percent of US CADV 

over the ETP Holder’s Adding ADV as 

a % of US CADV in November 2018: 

• $0.0015 per share for adding 

displayed orders; 

• $0.0015 per share for orders that set 

a new Exchange BBO; 4

• $0.0017 per share for adding nondisplayed orders; and 

• $0.0005 per share for MPL orders. 

For example, in a given month of 20 

trading days, assume that an ETP Holder 

adds liquidity of an ADV of 3.5 million 

shares in a month where CADV is 7 

billion shares, or 0.05% of US CADV in 

November 2018 (the ‘‘Baseline’’).5

Further assume that the ETP Holder 

adds liquidity of an ADV of 7 million 

shares in the relevant billing month, or 

0.10% of US CADV. That ETP Holder 

would qualify for the proposed Step Up 

Adding Tier based on their 0.05% step 

up as a percent of US CADV over the 

ETP Holder’s Baseline. 

The proposed changes are not 

otherwise intended to address any other 

issues, and the Exchange is not aware of 

any problems that ETP Holders would 

have in complying with the proposed 

change. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,6 in general, and 

furthers the objectives of Sections 

6(b)(4) and 6(b)(5) of the Act,7 in 

particular, because it provides for the 

equitable allocation of reasonable dues, 

fees, and other charges among its 

members, issuers and other persons 

using its facilities and does not unfairly 

discriminate between customers, 

issuers, brokers or dealers. 

The Exchange believes that the 

proposed Step Up Adding Tier fees for 

ETP Holders with 0.04% or more 

Adding average daily volume as a 

percentage of US CADV in addition to 

the ETP Holder’s Adding ADV as a 

percentage of US CADV in November 

2018 is reasonable because the proposed 

tier would further contribute to 

incentivizing ETP Holders to bring 

additional order flow to a public market. 

In particular, the Exchange believes that 

the tiered rates will provide an 

incentive for more active ETP Holders 

that do not meet the qualification for 

Adding Tiers 2, 3 and 4, which offer 

lower fees for adding liquidity, to add 

displayed liquidity to the Exchange, to 

the benefit of the investing public and 

all market participants. In addition, the 

Exchange believes that the proposed 

Step Up Adding Tier fees are equitable 

and not unfairly discriminatory because 

all similarly situated market 

participants who would submit 

additional liquidity to the Exchange in 

order to qualify for the fees would be 

subject to the same fees on an equal and 

non-discriminatory basis. The Exchange 

also believes that the proposed nonsubstantive changes would not be 

inconsistent with the public interest and 

the protection of investors because 

investors will not be harmed and in fact 

would benefit from increased clarity 

and transparency, thereby reducing 

potential confusion. 

Finally, the Exchange believes that it 

is subject to significant competitive 

forces, as described below in the 

Exchange’s statement regarding the 

burden on competition. 

For the foregoing reasons, the 

Exchange believes that the proposal is 

consistent with the Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

In accordance with Section 6(b)(8) of 

the Act,8 the Exchange believes that the 

proposed rule change would not impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. Instead, the 

Exchange believes that the proposed 

changes would encourage the 

submission of additional liquidity to a 

public exchange, thereby promoting 

price discovery and transparency and 

enhancing order execution 

opportunities for ETP Holders. The 

Exchange believes that this could 

promote competition between the 

Exchange and other execution venues, 

including those that currently offer 

similar order types and comparable 

transaction pricing, by encouraging 

additional orders to be sent to the 

Exchange for execution. The Exchange 

also believes that the proposed rule is 

designed to provide the public and 

investors with a Schedule of Fees and 

Rebates that is clear and consistent, 

thereby reducing burdens on the 

marketplace and facilitating investor 

protection. 

Finally, the Exchange notes that it 

operates in a highly competitive market 

in which market participants can 

readily favor competing venues if they 

deem fee levels at a particular venue to 

be excessive or rebate opportunities 

available at other venues to be more 

favorable. In such an environment, the 

Exchange must continually adjust its 

fees and rebates to remain competitive 

with other exchanges and with 

alternative trading systems that have 

been exempted from compliance with 

the statutory standards applicable to 

exchanges. Because competitors are free 

to modify their own fees and credits in 

response, and because market 

participants may readily adjust their 

order routing practices, the Exchange 

believes that the degree to which fee 

changes in this market may impose any 

burden on competition is extremely 

limited. As a result of all of these 

considerations, the Exchange does not 

believe that the proposed changes will 

impair the ability of ETP Holders or 

competing order execution venues to 

maintain their competitive standing in 

the financial markets. 


amozie on DSK3GDR082PROD with NOTICES
64906 Federal Register / Vol. 83, No. 242 / Tuesday, December 18, 2018 / Notices 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(2). 

11 15 U.S.C. 78s(b)(2)(B). 12 17 CFR 200.30–3(a)(12). 

1See generally Money Market Fund Reform; 

Amendments to Form PF, Securities Act Release 

No. 9408, Investment Advisers Act Release No. 

3616, Investment Company Act Release No. 30551 

(June 5, 2013), 78 FR 36834, 36934 (June 19, 2013); 

see also Exchange Act Rule 10b–10(b)(1), 17 CFR 

240.10b–10(b)(1) (limiting alternative monthly 

reporting to money market funds that attempt to 

maintain a stable NAV). 

2See Order Granting a Conditional Exemption 

Under the Securities Exchange Act of 1934 From 

the Confirmation Requirements of Exchange Act 

Rule 10b–10(a) for Certain Transactions in Money 

Market Funds, Exchange Act Release No. 34–76480 

(Nov. 19, 2015), 80 FR 73849 (Nov. 25, 2015). 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A) 9 of the Act and 

subparagraph (f)(2) of Rule 19b–4 10

thereunder, because it establishes a due, 

fee, or other charge imposed by the 

Exchange. 

At any time within 60 days of the 

filing of such proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

under Section 19(b)(2)(B) 11 of the Act to 

determine whether the proposed rule 

change should be approved or 

disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rulecomments@sec.gov. Please include File 

Number SR–NYSENAT–2018–25 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSENAT–2018–25. This 

file number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change; 

the Commission does not edit personal 

identifying information from 

submissions. Persons submitting 

comments are cautioned that we do not 

redact or edit personal identifying 

information from comment submissions. 

You should submit only information 

that you wish to make available 

publicly. All submissions should refer 

to File Number SR–NYSENAT–2018–25 

and should be submitted on or before 

January 8, 2019. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Eduardo A. Aleman, 

Deputy Secretary. 

[FR Doc. 2018–27279 Filed 12–17–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Extension: 

Order Granting a Conditional Exemption 

under the Securities Exchange Act of 

1934 from the Confirmation 

Requirements of Exchange Act Rule 10b– 

10(a) for Certain Transactions in Money 

Market Funds, SEC File No. 270–792; 

OMB Control No. 3235–0739 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the 

Securities and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget 

(‘‘OMB’’) a request for approval of 

extension of the existing collection of 

information provided for in the 

following: Order Granting a Conditional 

Exemption under the Securities 

Exchange Act of 1934 from the 

Confirmation Requirements of Exchange 

Act Rule 10b–10(a) for Certain 

Transactions in Money Market Funds 

(17 CFR 240.10b–10(a)). 

Rule 10b–10 under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.) generally requires broker-dealers to 

provide customers with specified 

information relating to their securities 

transactions at or before the completion 

of the transactions. Rule 10b–10(b), 

however, provides an exception from 

this requirement for certain transactions 

in money market funds that attempt to 

maintain a stable net asset value when 

no sales load or redemption fee is 

charged. The exception permits brokerdealers to provide transaction 

information to money market fund 

shareholders on a monthly, rather than 

immediate, basis, subject to the 

conditions. Amendments to Rule 2a–7 

of the Investment Company Act of 1940 

(‘‘Investment Company Act’’) (15 U.S.C. 

80a–1 et seq.) among other things, 

means, absent an exemption, brokerdealers would not be able to continue to 

rely on the exception under Exchange 

Act Rule 10b–10(b) for transactions in 

money market funds operating in 

accordance with Rule 2a–7(c)(1)(ii).1

In 2015, the Commission issued an 

Order Granting a Conditional 

Exemption under the Securities 

Exchange Act of 1934 From The 

Confirmation Requirements of Exchange 

Act Rule 10b–10(a) For Certain 

Transactions In Money Market Funds 

(‘‘Order’’) 2 which allows broker-dealers, 

subject to certain conditions, to provide 

transaction information to investors in 

any money market fund operating 

pursuant to Rule 2a–7(c)(1)(ii) on a 

monthly basis in lieu of providing 

immediate confirmations as required 

under Exchange Act Rule 10b–10(a) 

(‘‘the Exemption’’). Accordingly, to be 


amozie on DSK3GDR082PROD with NOTICES