Federal Register / Vol. 87, No. 24 / Friday, February 4, 2022 / Notices 6643 

26See supra note 18. 

27Based on a compilation of OCC data for 

monthly volume of equity-based options and 

monthly volume of ETF-based options, see id., the 

Exchange’s market share in multiply listed equity 

and ETF options decreased from 9.09% for the 

month of November 2020 to 7.06% for the month 

of November 2021. 

28 15 U.S.C. 78s(b)(3)(A). 

29 17 CFR 240.19b–4(f)(2). 30 17 CFR 200.30–3(a)(12). 

16 competing option exchanges if they 

deem fee levels at a particular venue to 

be excessive. In such an environment, 

the Exchange must continually adjust its 

fees to remain competitive with other 

exchanges and to attract order flow to 

the Exchange. Based on publiclyavailable information, and excluding 

index-based options, no single exchange 

currently has more than 16% of the 

market share of executed volume of 

multiply-listed equity and ETF options 

trades.26 Therefore, no exchange 

currently possesses significant pricing 

power in the execution of multiplylisted equity and ETF options order 

flow. More specifically, in November 

2021, the Exchange had less than 8% 

market share of executed volume of 

multiply-listed equity and ETF options 

trades.27

The Exchange believes that the 

proposed rule change reflects this 

competitive environment because it 

modifies the Exchange’s fees and rebates 

in a manner designed to encourage ATP 

Holders to direct trading interest to the 

Exchange, to provide liquidity and to 

attract order flow. Specifically, the 

Exchange believes that the proposed 

change would encourage ATP Holders 

to direct increased volume to the 

Exchange, thereby increasing the 

number of executions (and executions of 

varying types) on the Exchange. The 

Exchange further believes that 

harmonizing the requirements for the 

Rebate and Credit could make the 

incentives more achievable for ATP 

Holders and would thus continue to 

make the Exchange a more attractive 

and competitive venue for order 

execution. To the extent that this 

purpose is achieved, all the Exchange’s 

market participants should benefit from 

the improved market quality and 

increased opportunities for price 

improvement. 

Thus, the Exchange believes that the 

proposed changes could promote 

competition between the Exchange and 

other execution venues, including those 

that currently offer similar pricing 

incentives, by encouraging additional 

orders to be sent to the Exchange for 

execution. 

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) 28 of the Act and 

subparagraph (f)(2) of Rule 19b–4 29

thereunder. 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. 

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 rule-comments@

sec.gov. Please include File Number SR– 

NYSEAMER–2022–09 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–NYSEAMER–2022–09. 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. 

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–NYSEAMER–2022–09 and 

should be submitted on or before 

February 25, 2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.30

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–02314 Filed 2–3–22; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice 11646] 

Notice of Determinations; Culturally 

Significant Objects Being Imported for 

Exhibition—Determinations: ‘‘Alberto 

Giacometti: Toward the Ultimate 

Figure’’ Exhibition 

SUMMARY: Notice is hereby given of the 

following determinations: I hereby 

determine that certain objects being 

imported from abroad pursuant to an 

agreement with their foreign owner or 

custodian for temporary display in the 

exhibition ‘‘Alberto Giacometti: Toward 

the Ultimate Figure’’ at the Cleveland 

Museum of Art, Cleveland, Ohio; the 

Seattle Art Museum, Seattle, 

Washington; the Museum of Fine Arts, 

Houston, in Houston, Texas; the NelsonAtkins Museum of Art, Kansas City, 

Missouri; and at possible additional 

exhibitions or venues yet to be 

determined, are of cultural significance, 

and, further, that their temporary 

exhibition or display within the United 

States as aforementioned is in the 

national interest. I have ordered that 

Public Notice of these determinations be 

published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: Chi 

D. Tran, Program Administrator, Office 

of the Legal Adviser, U.S. Department of 


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6644 Federal Register / Vol. 87, No. 24 / Friday, February 4, 2022 / Notices 

1The verified notice states that FTAI 

Infrastructure is a newly created subsidiary of FTAI, 

which is a Delaware limited liability company 

managed by an affiliate of Fortress. 

2The verified notice states that FTAI owns 100% 

of the equity interests of Transtar, LLC, which owns 

and controls URR, GRW, DCR, TNR, and LTR. See 

Fortress Inv. Grp. LLC—Acquis. & Continuance in 

Control Exemption—Ohio River Partners S’holder 

LLC, FD 36521 (STB served June 30, 2021). 

3The verified notice states that ORPS owns a 

12.2-mile freight rail line between milepost 60.5 

near Powhatan Point, Ohio, and milepost 72.2 near 

Hannibal, Ohio (the Omal Line). KRS has assumed 

the right and common carrier obligation to operate 

the Omal Line. Katahdin Railcar Servs. LLC— 

Change in Operators Exemption—Ohio Terminal 

Ry., FD 36487 (STB served Mar. 30, 2021); see also 

Fortress Inv. Grp. LLC—Exemption for Intra-Corp. 

Fam. Transaction—Ohio River Partners S’holder 

LLC, FD 36402 (STB served May 15, 2020). 

4According to the verified notice, the operating 

revenues of URR and GRW exceed the dollar 

threshold for Class II carrier status, but URR and 

GRW are designated as Class III carriers because 

they are switching and terminal carriers. See 49 

CFR 1201.1–1(d). 

5The verified notice states that the proposed 

transaction will be authorized by FTAI’s board of 

directors pursuant to a written resolution in 

substantially the form attached to the verified 

notice as Exhibit 2. 

State (telephone: 202–632–6471; email: 

section2459@state.gov). The mailing 

address is U.S. Department of State, L/ 

PD, 2200 C Street NW (SA–5), Suite 

5H03, Washington, DC 20522–0505. 

SUPPLEMENTARY INFORMATION: The 

foregoing determinations were made 

pursuant to the authority vested in me 

by the Act of October 19, 1965 (79 Stat. 

985; 22 U.S.C. 2459), E.O. 12047 of 

March 27, 1978, the Foreign Affairs 

Reform and Restructuring Act of 1998 

(112 Stat. 2681, et seq.; 22 U.S.C. 6501 

note, et seq.), Delegation of Authority 

No. 234 of October 1, 1999, Delegation 

of Authority No. 236–3 of August 28, 

2000, and Delegation of Authority No. 

523 of December 22, 2021. 

Stacy E. White, 

Deputy Assistant Secretary for Professional 

and Cultural Exchanges, Bureau of 

Educational and Cultural Affairs, Department 

of State. 

[FR Doc. 2022–02336 Filed 2–3–22; 8:45 am] 

BILLING CODE 4710–05–P 

SURFACE TRANSPORTATION BOARD 

[Docket No. FD 36576] 

Fortress Investment Group LLC— 

Exemption for Intra-Corporate Family 

Transaction—Ohio River Partners 

Shareholder LLC, Katahdin Railcar 

Services, LLC, Union Railroad 

Company, Gary Railway Company, 

Delray Connecting Railroad Company, 

Texas & Northern Railroad Company, 

and Lake Terminal Railroad Company 

Fortress Investment Group LLC 

(Fortress), for the benefit of Fortress 

Transportation and Infrastructure 

Investors LLC (FTAI) and FTAI 

Infrastructure Inc. (FTAI 

Infrastructure),1 (collectively, the 

Parties), has filed a verified notice of 

exemption for an intra-corporate family 

transaction under 49 CFR 1180.2(d)(3), 

which exempts from the prior approval 

requirements of 49 U.S.C. 11323 

‘‘[t]ransactions within a corporate 

family that do not result in adverse 

changes in service levels, significant 

operational changes, or a change in the 

competitive balance with carriers 

outside the corporate family.’’ 49 CFR 

1180.2(d)(3). 

According to the verified notice, FTAI 

indirectly owns controlling interests in 

seven common carrier railroads: Ohio 

River Partners Shareholder LLC (ORPS); 

Katahdin Railcar Services LLC (KRS); 

Union Railroad Company (URR); Gary 

Railway Company (GRW); Delray 

Connecting Railroad Company (DCR); 

Texas & Northern Railroad Company 

(TNR); and Lake Terminal Railroad 

Company (LTR).2 The verified notice 

states that ORPS is a non-operating 

carrier,3 and that the remaining 

railroads are each Class III carriers.4

Under the proposed transaction, FTAI 

will engage in an intra-corporate 

reorganization that will result in FTAI 

Infrastructure’s control of ORPS, KRS, 

URR, GRW, DCR, TNR, and LTR. The 

verified notice states that the purpose of 

the transaction is to separate FTAI’s 

aviation-related assets and liabilities 

from its railroad and energy 

infrastructure businesses. According to 

the verified notice, an affiliate of 

Fortress will continue managing FTAI 

Infrastructure and, indirectly, the seven 

railroads. Fortress states that the 

proposed transaction does not impose or 

involve an interchange commitment by 

or affecting the railroads, and that it will 

have no impact on the day-to-day 

operations of the seven railroads. 

Unless stayed, the exemption will be 

effective on February 20, 2022 (30 days 

after the verified notice was filed). 

Fortress states that the Parties intend to 

consummate the proposed transaction 

as soon as practicable after that date and 

final approval of the proposed 

transaction by FTAI’s board of 

directors.5

The verified notice states that the 

transaction will not result in adverse 

changes in service levels, operational 

changes, or a change in the competitive 

balance with carriers outside the 

corporate family. Therefore, the 

transaction is exempt from the prior 

approval requirements of 49 U.S.C. 

11323. See 49 CFR 1180.2(d)(3). 

Under 49 U.S.C. 10502(g), the Board 

may not use its exemption authority to 

relieve a rail carrier of its statutory 

obligation to protect the interests of its 

employees. However, 49 U.S.C. 11326(c) 

does not provide for labor protection for 

transactions under 49 U.S.C. 11324 and 

11325 that involve only Class III rail 

carriers. Accordingly, the Board may not 

impose labor protective conditions here 

because all the carriers involved are 

Class III rail carriers. 

If the verified notice contains false or 

misleading information, the exemption 

is void ab initio. Petitions to revoke the 

exemption under 49 U.S.C. 10502(d) 

may be filed at any time. The filing of 

a petition to revoke will not 

automatically stay the effectiveness of 

the exemption. Petitions for stay must 

be filed no later than February 11, 2022 

(at least seven days before the 

exemption becomes effective). 

All pleadings, referring to Docket No. 

FD 36576, should be filed with the 

Surface Transportation Board via efiling on the Board’s website. In 

addition, one copy of each pleading 

must be served on Fortress’s 

representative, Terence M. Hynes, 

Sidley Austin LLP, 1501 K Street NW, 

Washington, DC 20005. 

According to Fortress, this action is 

categorically excluded from 

environmental review under 49 CFR 

1105.6(c) and historic reporting under 

49 CFR 1105.8(b). 

Board decisions and notices are 

available at www.stb.gov. 

Decided: January 31, 2022. 

By the Board, Scott M. Zimmerman, Acting 

Director, Office of Proceedings. 

Stefan Rice, 

Clearance Clerk. 

[FR Doc. 2022–02360 Filed 2–3–22; 8:45 am] 

BILLING CODE 4915–01–P 

SURFACE TRANSPORTATION BOARD 

[Docket No. FD 36496] 

Application of the National Railroad 

Passenger Corporation Under 49 

U.S.C. 24308(e)—CSX Transportation, 

Inc., and Norfolk Southern Railway 

Company 

AGENCY: Surface Transportation Board. 

ACTION: Notice of public hearing. 

SUMMARY: The Surface Transportation 

Board (Board) will hold a public hearing 

in this docket, consisting of two phases. 

The first phase, which will involve 

comments from the public, will 

commence on February 15, 2022, and 


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