11998 Federal Register / Vol. 60, No. 42 / Friday, March 3, 1995 / Notices

licensee’s application of February 14,

1995. The proposed action would

exempt the licensee from the

requirements of 10 CFR Part 50,

Appendix J, Paragraph III.D.1.(a), to the

extent that a one-time interval extension

for the Type A test (containment

integrated leak rate test) by

approximately 15 months from the

February 1995 refueling outage to the

May 1996 refueling outage would be

granted.

The Need for the Proposed Action

The proposed action is needed to

permit the licensee to defer the Type A

test from the February 1995 refueling

outage to the May 1996 refueling outage,

thereby saving the cost of performing

the test and eliminating the test period

from the critical path time of the outage.

Environmental Impacts of the Proposed

Action

The Commission has completed its

evaluation of the proposed action and

concludes that the proposed one-time

exemption would not increase the

probability or consequences of accidents

previously analyzed and the proposed

one-time exemption would not affect

facility radiation levels or facility

radiological effluents. The licensee will

continue to be required to conduct the

Type B and C local leak rate tests which

historically have been shown to be the

principal means of detecting

containment leakage paths with the

Type A tests confirming the Type B and

C test results. It is also noted that the

licensee, as a condition of the proposed

exemption, will perform the visual

containment inspection although it is

only required by Appendix J to be

conducted in conjunction with Type A

tests. The NRC staff considers that these

inspections, though limited in scope,

provide an important added level of

confidence in the continued integrity of

the containment boundary. The NRC

staff also notes that the containment is

maintained at a subatmospheric

pressure which provides a means for

continuously monitoring potential

containment leakage paths during

power operation. The change will not

increase the probability or consequences

of accidents, no changes are being made

in the types of any effluents that may be

released offsite, and there is no

significant increase in the allowable

individual or cumulative occupational

radiation exposure. Accordingly, the

Commission concludes that there are no

significant radiological environmental

impacts associated with the proposed

action.

With regard to potential

nonradiological impacts, the proposed

action does involve features located

entirely within the restricted area as

defined in 10 CFR Part 20. It does not

affect nonradiological plant effluents

and has no other environmental impact.

Accordingly, the Commission concludes

that there are no significant

nonradiological environmental impacts

associated with the proposed action.

Alternatives to the Proposed Action

Since the Commission has concluded

there is no measurable environmental

impact associated with the proposed

action, any alternatives with equal or

greater environmental impact need not

be evaluated. As an alternative to the

proposed action, the NRC staff

considered denial of the proposed

action. Denial of the application would

result in no change in current

environmental impacts.

Alternative Use of Resources

This action does not involve the use

of any resources not previously

considered in the Final Environmental

Statement for the Surry Power Station,

Unit No. 2.

Agencies and Persons Consulted

In accordance with its stated policy,

the NRC staff consulted with the

Virginia State official regarding the

environmental impact of the proposed

action. The State official had no

comments.

Finding of No Significant Impact

Based upon the environmental

assessment, the Commission concludes

that the proposed action will not have

a significant effect on the quality of the

human environment. Accordingly, the

Commission has determined not to

prepare an environmental impact

statement for the proposed action.

For further details with respect to the

proposed action, see the licensee’s letter

dated February 14, 1995, which is

available for public inspection at the

Commission’s Public Document Room,

The Gelman Building, 2120 L Street,

NW., Washington, DC, and at the local

public document room located at the

Swem Library, College of William and

Mary, Williamsburg, Virginia 23185.

Dated at Rockville, Maryland, this 28th day

of February 1995.

For the Nuclear Regulatory Commission.

Richard P. Croteau,

Acting Director Project Directorate II–2,

Division of Reactor Projects—I/II, Office of

Nuclear Reactor Regulation.

[FR Doc. 95–5358 Filed 3–2–95; 8:45 am]

BILLING CODE 7590–01–M

Licensing Support System Advisory

Review Panel

AGENCY: Nuclear Regulatory

Commission.

ACTION: Notice of public meeting.

SUMMARY: The Licensing Support

System Advisory Review Panel

(LSSARP) will hold its next meeting on

March 22 and 23, 1995, at the

Department of Energy’s Yucca Mountain

Site Characterization Project Office,

room 450, Bank of America Building,

101 Convention Center Drive, Las Vegas,

Nevada. The entire meeting will be open

to the public pursuant to the Federal

Advisory Committee Act (Pub. L. 94–

463, 86 Stat. 770–776).

AGENDA: The meeting will be held from

1:00 p.m. to 5:00 p.m. on Wednesday,

March 22 and from 9:00 a.m. to 4:30

p.m. on Thursday, March 23, 1995. The

agenda will consist of briefings and

discussions on the following topics:

1. Header Working Group Update.

2. Technical Working Group Report

on Review of LSS Requirements

Document.

3. Current LSS Activity at DOE.

4. Inclusion/Exclusion Criteria for

DOE’s Records Management System.

5. Location of the LSS Facility.

6. Topic Selection for Use of LSS on

Pilot Project Basis.

7. Progress Toward Development of

an NRC/DOE Memorandum of

Agreement.

8. Comments Received on Draft

Participant Compliance Document.

9. Future Meeting Schedule.

SUPPLEMENTARY INFORMATION: The

Nuclear Regulatory Commission (NRC)

established the LSSARP in 1989 to

provide advice and recommendations to

the NRC and to the Department of

Energy (DOE) on topics, issues, and

activities related to the design,

development and operation of an

electronic information management

system known as the Licensing Support

System (LSS). This system will contain

information relevant to the

Commission’s future licensing

proceeding for a geologic repository for

the disposal of high-level radioactive

waste. Membership on the Panel

consists of representatives of the State of

Nevada, Nye County, Nevada, a

coalition of effected units of local

Government in Nevada, the National

Congress of American Indians, a

coalition of organizations representing

the nuclear industry, DOE, NRC and

other agencies of the Federal

government which have experience

with large electronic information

management systems.

FOR FURTHER INFORMATION CONTACT:
Federal Register / Vol. 60, No. 42 / Friday, March 3, 1995 / Notices 11999

1 15 U.S.C. § 78s(b)(1) (1988).

2 17 CFR 240.19b–4 (1993).

3See Phlx Rule 1012(a)(ii). See also Securities

Exchange Act Release No. 30672 (May 6, 1992), 57

FR 20546 (May 13, 1992) (File No. SR-Phlx–91–30).

4See e.g., Securities Exchange Act Release Nos.

25685 (May 10, 1988), 53 FR 17534 (May 17, 1988)

(French franc from $.05 to $.025 strike price

intervals) (File No. SR-Phlx–86–14), and 24103

(February 13, 1987), 52 FR 5605 (February 25, 1987)

(British Pound from $.05 to $.025 strike price

intervals) (File No. SR-Phlx–86–14).

John C. Hoyle, Office of the Secretary,

U.S. Nuclear Regulatory Commission,

Washington, DC 20555: telephone 301–

415–1969.

PUBLIC PARTICIPATION: Interested persons

may make oral presentations to the

Panel or file written statements.

Requests for oral presentations should

be made to the contact person listed

below as far in advance as practicable so

that appropriate arrangements can be

made.

Dated: February 27, 1995.

Andrew L. Bates,

Advisory Committee Management Officer.

[FR Doc. 95–5248 Filed 3–2–95; 8:45 am]

BILLING CODE 7590–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–35420; International Series

Release No. 787; File No. SR-Phlx–95–06]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change by

the Philadelphia Stock Exchange, Inc.

Relating to British Pound Strike Price

Intervals

February 27, 1995.

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

Securities Exchange Act of 1934

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on January

30, 1995, the Philadelphia Stock

Exchange, Inc. (‘‘Phix’’ or ‘‘Exchange’’)

filed with the Securities and Exchange

Commission (‘‘Commission’’) the

proposed rule change as described in

Items I, II, and III below, which Items

have been prepared by the Exchange.

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 revise its

strike price policy respecting foreign

currency options on the British pound

by changing from a $.025 interval to a

$.01 interval in the nearest three

expiration months and $.02 in the next

three nearest expiration months. In

addition to reducing the strike price

interval from 21⁄2 cents to 1 and 2 cents,

the Exchange also proposes to reduce

the strike price interval for long-term

British pound options, which have 12 to

36 months until expiration,3 from $.05

to $.04. The strike price interval

applicable to long-term foreign currency

options is determined by doubling the

strike price interval of regular options

(12 months or less until expiration). The

text of the proposed rule change is

available at the Office of the Secretary,

the Exchange, and at the Commission.

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

Exchange included statements

concerning the purpose of and basis for

the proposed rule change. The text of

these statements may be examined at

the places specified in Item IV below.

The Exchange has prepared summaries,

set forth in Section (A), (B), and (C)

below, of the most significant aspects of

such statements.

(A) Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

The Exchange’s strike price interval

policies are administered pursuant to

Rule 1012, Series of Options Open for

Trading. Currently, British pound

options are listed at 21⁄2 cent intervals;

long-term options are listed at 5 cent

intervals. Pursuant to Phlx Rule 1012,

six expiration months are currently

listed in regular foreign currency

options, with one, two, three, six, nine,

and twelve months until expiration.

Additionally, two long-term options are

currently listed (in June and December)

with 18 and 24 months until expiration.

Fluctuations in the spot price of the

British pound result in additional

listings at 21⁄2 cent intervals.

The Exchange proposes to revise its

strike price policy respecting foreign

currency options on the British pound

by changing from a $.025 interval to a

$.01 interval in the nearest three

expiration months and $.02 in the next

three nearest expiration months. In

addition to reducing the strike price

interval from 21⁄2 cents to 1 and 2 cents,

the Exchange also proposed to reduce

the strike price interval for long-term

British pound options, which have 12 to

36 months until expiration, from $.05 to

$.04. The purpose of the proposed rule

change is to respond to changes in the

world-wide market marketplace for the

British pound. The Exchange notes that

lower volatility respecting the British

pound had created a customer need for

narrower strike price intervals. Lower

volatility signifies less movement in the

currency such that it currently trades in

a more narrow range, perhaps without

moving to the next (21⁄2 cent) strike

price interval. The Exchange notes that

the strike price interval for a nonvolatile foreign currency option,

including the British Pound, has

previously been decreased.4

In addition, the Exchange seeks to

remain competitive and consistent with

the contract terms applicable to foreign

currency futures and options on such

futures traded on the Chicago

Mercantile Exchange (‘‘CME’’).

Recently, the CME determined to list

certain options on British pound futures

(the three near months) at $.01 intervals.

The Exchange believes that the

proposed reduction in the strike price

interval should provide investors and

traders of British pound options with

the ability to more closely tailor

investment and hedging strategies to

British pound trading levels and

movement. Accordingly, the Exchange

believes that the proposed rule change

is consistent with Section 6 of the Act,

in general, and furthers the objectives of

Section 6(b)(5), in particular, in that it

is designed to promote just and

equitable principles of trade by enabling

more effective management of foreign

currency risk respecting the British

pound.

(B) Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange does not believe that

the proposed rule change will impose

any burden on competition.

(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

Within 35 days of the date of

publication of this notice in the Federal

Register or within such longer period (i)

as the Commission may designate up to

90 days of such date if it finds such

longer period to be appropriate and

publishes its reasons for so finding or

(ii) as to which the self-regulatory

organization consents, the Commission

will:

(A) By order approve such proposed rule

change, or (B) Institute proceedings to