KS Railroad, a Division of KINKISHARYO International, L.L.C.-Operation Exemption-in Piscataway, N.J., 49910-49911 [2022-17342]

Download as PDF jspears on DSK121TN23PROD with NOTICES 49910 Federal Register / Vol. 87, No. 155 / Friday, August 12, 2022 / Notices are intended to increase the competitiveness of BYX by amending existing pricing incentives in order to attract order flow and incentivize participants to increase their participation on the Exchange, providing for additional execution opportunities for market participants and improved price transparency. Greater overall order flow, trading opportunities, and pricing transparency benefit all market participants on the Exchange by enhancing market quality and continuing to encourage Members to send orders, thereby contributing towards a robust and well-balanced market ecosystem. Next, the Exchange believes the proposed rule change does not impose any burden on intermarket competition that is not necessary or appropriate in furtherance of the purposes of the Act. As previously discussed, the Exchange operates in a highly competitive market. Members have numerous alternative venues that they may participate on and direct their order flow, including other equities exchanges, off-exchange venues, and alternative trading systems. Additionally, the Exchange represents a small percentage of the overall market. Based on publicly available information, no single equities exchange has more than 16% of the market share.23 Therefore, no exchange possesses significant pricing power in the execution of order flow. Indeed, participants can readily choose to send their orders to other exchange and offexchange venues if they deem fee levels at those other venues to be more favorable. Moreover, the Commission has repeatedly expressed its preference for competition over regulatory intervention in determining prices, products, and services in the securities markets. Specifically, in Regulation NMS, the Commission highlighted the importance of market forces in determining prices and SRO revenues and, also, recognized that current regulation of the market system ‘‘has been remarkably successful in promoting market competition in its broader forms that are most important to investors and listed companies.’’ 24 The fact that this market is competitive has also long been recognized by the courts. In NetCoalition v. Securities and Exchange Commission, the D.C. Circuit states as follows: ‘‘[n]o one disputes that competition for order flow is ‘fierce.’ . . . As the SEC explained, ‘[i]n the U.S. national market system, buyers and sellers of securities, and the broker23 Supra note 3. Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 37496, 37499 (June 29, 2005). 24 See VerDate Sep<11>2014 17:38 Aug 11, 2022 Jkt 256001 dealers that act as their order-routing agents, have a wide range of choices of where to route orders for execution’; [and] ‘no exchange can afford to take its market share percentages for granted’ because ‘no exchange possesses a monopoly, regulatory or otherwise, in the execution of order flow from broker dealers’. . .’’.25 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act 26 and paragraph (f) of Rule 19b–4 27 thereunder. At any time within 60 days of the filing of the 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 will institute proceedings 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 (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– CboeBYX–2022–018 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–CboeBYX–2022–018. This 25 NetCoalition v. SEC, 615 F.3d 525, 539 (DC Cir. 2010) (quoting Securities Exchange Act Release No. 59039 (December 2, 2008), 73 FR 74770, 74782–83 (December 9, 2008) (SR–NYSEArca-2006–21)). 26 15 U.S.C. 78s(b)(3)(A). 27 17 CFR 240.19b–4(f). PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 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 (https://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. 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– CboeBYX–2022–018, and should be submitted on or before September 2, 2022. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.28 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–17319 Filed 8–11–22; 8:45 am] BILLING CODE 8011–01–P SURFACE TRANSPORTATION BOARD [Docket No. FD 36618] KS Railroad, a Division of KINKISHARYO International, L.L.C.— Operation Exemption—in Piscataway, N.J. KS Railroad (KS), a noncarrier and division of KINKISHARYO International, L.L.C. (KII), has filed a verified notice of exemption pursuant to 49 CFR 1150.31 to operate on 1,173 feet, three inches of railroad track inside an existing industrial facility owned by KII in Piscataway, N.J. (the Line). The Line has no mileposts. According to the verified notice, the Line is currently operated by KII as 28 17 E:\FR\FM\12AUN1.SGM CFR 200.30–3(a)(12). 12AUN1 Federal Register / Vol. 87, No. 155 / Friday, August 12, 2022 / Notices jspears on DSK121TN23PROD with NOTICES private track. KII has formed a new division, KS, to operate as a common carrier railroad to perform rail service for KII and other shippers that would locate at the facility. KS will acquire control over track at the facility and then operate the Line as a common carrier rail line and the remaining track as yard and industrial track. KS also anticipates entering into an interchange agreement with Consolidated Rail Corporation. KS certifies that its annual projected revenues as a result of the transaction will not exceed those that would qualify it as a Class III carrier and will not exceed $5 million. KS states that no interchange commitments are being imposed on KS’s operation. The transaction may be consummated on or after August 27, 2022, the effective date of the exemption (30 days after the verified notice was filed). 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 August 19, 2022 (at least seven days before the exemption becomes effective). All pleadings, referring to Docket No. FD 36618, must be filed with the Surface Transportation Board either via e-filing on the Board’s website or in writing addressed to 395 E Street SW, Washington, DC 20423–0001. In addition, a copy of each pleading must be served on KS’s representative, Eric M. Hocky, Clark Hill PLC, Two Commerce Square, 2001 Market St., Suite 2620, Philadelphia, PA 19103. According to KS, this action is categorically excluded from environmental review under 49 CFR 1105.6(c) and from historic preservation reporting requirements under 49 CFR 1105.8(b). Board decisions and notices are available at www.stb.gov. Decided: August 5, 2022. By the Board, Mai T. Dinh, Director, Office of Proceedings. Brendetta Jones, Clearance Clerk. [FR Doc. 2022–17342 Filed 8–11–22; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF TRANSPORTATION DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Federal Railroad Administration Public Notice of Airport Improvement Program Property Release; Spokane International Airport, Spokane, Washington Federal Aviation Administration (FAA), Transportation DOT. AGENCY: Notice of request to release airport improvement program property. ACTION: Notice is being given that the FAA is considering a request from the City and County of Spokane, Washington to waive the Airport Improvement Program property requirements for approximately 108 acres of airport property located at Spokane International Airport, Spokane, Washington. SUMMARY: Comments are due within 30 days of the date of the publication of this notice in the Federal Register. Emailed comments can be provided to Ms. Mandi M. Lesauis, Program Specialist, Seattle Airports District Office, mandi.lesauis@faa.gov. DATES: FOR FURTHER INFORMATION CONTACT: Mandi M. Lesauis, Program Specialist, Seattle Airports District Office, mandi.lesauis@faa.gov, (206) 231–4140. The subject properties are located in the northeast section of the airport. This release will allow the City and County of Spokane to sell 108 acres of Parcel 1 to developers for storage warehouses, transportation/logistics warehouses with minor office spaces for light industrial or commercial business. There will be proceeds generated from the proposed release of this property for capital improvements at the airport. The City and County of Spokane, Washington will receive not less than fair market value for the property and the revenue generated from the sale will be used for airport purposes. It has been determined through study that the subject partial parcel will not be needed for aeronautical purposes. Authority: Title 49.U.S.C. Section 47153(c). SUPPLEMENTARY INFORMATION: Issued in Des Moines, Washington, on August 8, 2022. Warren D. Ferrell, Manager, Seattle Airports District Office. [FR Doc. 2022–17326 Filed 8–11–22; 8:45 am] BILLING CODE 4910–13–P VerDate Sep<11>2014 17:38 Aug 11, 2022 Jkt 256001 49911 PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 [Docket Number FRA–2010–0034] Port Authority Trans-Hudson’s Request To Amend Its Positive Train Control Safety Plan and Positive Train Control System Federal Railroad Administration (FRA), Department of Transportation (DOT). ACTION: Notice of availability and request for comments. AGENCY: This document provides the public with notice that, on August 2, 2022, the Port Authority Trans-Hudson (PATH) submitted a request for amendment (RFA) to its FRA-approved Positive Train Control Safety Plan (PTCSP). As this RFA may involve a request for FRA’s approval of proposed material modifications to an FRAcertified positive train control (PTC) system, FRA is publishing this notice and inviting public comment on the railroad’s RFA to its PTCSP. DATES: FRA will consider comments received by September 1, 2022. FRA may consider comments received after that date to the extent practicable and without delaying implementation of valuable or necessary modifications to a PTC system. ADDRESSES: Comments: Comments may be submitted by going to https:// www.regulations.gov and following the online instructions for submitting comments. Instructions: All submissions must include the agency name and the applicable docket number. The relevant PTC docket number for this host railroad is Docket No. FRA–2010–0034. For convenience, all active PTC dockets are hyperlinked on FRA’s website at https://railroads.dot.gov/train-control/ ptc/ptc-annual-and-quarterly-reports. All comments received will be posted without change to https:// www.regulations.gov; this includes any personal information. FOR FURTHER INFORMATION CONTACT: Gabe Neal, Staff Director, Signal, Train Control, and Crossings Division, telephone: 816–516–7168, email: Gabe.Neal@dot.gov. SUPPLEMENTARY INFORMATION: In general, Title 49 United States Code (U.S.C.) section 20157(h) requires FRA to certify that a host railroad’s PTC system complies with Title 49 Code of Federal Regulations (CFR) part 236, subpart I, before the technology may be operated in revenue service. Before making SUMMARY: E:\FR\FM\12AUN1.SGM 12AUN1

Agencies

Surface Transportation Board

[Federal Register Volume 87, Number 155 (Friday, August 12, 2022)]
[Notices]
[Pages 49910-49911]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-17342]


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SURFACE TRANSPORTATION BOARD

[Docket No. FD 36618]


KS Railroad, a Division of KINKISHARYO International, L.L.C.--
Operation Exemption--in Piscataway, N.J.

    KS Railroad (KS), a noncarrier and division of KINKISHARYO 
International, L.L.C. (KII), has filed a verified notice of exemption 
pursuant to 49 CFR 1150.31 to operate on 1,173 feet, three inches of 
railroad track inside an existing industrial facility owned by KII in 
Piscataway, N.J. (the Line). The Line has no mileposts.
    According to the verified notice, the Line is currently operated by 
KII as

[[Page 49911]]

private track. KII has formed a new division, KS, to operate as a 
common carrier railroad to perform rail service for KII and other 
shippers that would locate at the facility. KS will acquire control 
over track at the facility and then operate the Line as a common 
carrier rail line and the remaining track as yard and industrial track. 
KS also anticipates entering into an interchange agreement with 
Consolidated Rail Corporation.
    KS certifies that its annual projected revenues as a result of the 
transaction will not exceed those that would qualify it as a Class III 
carrier and will not exceed $5 million. KS states that no interchange 
commitments are being imposed on KS's operation.
    The transaction may be consummated on or after August 27, 2022, the 
effective date of the exemption (30 days after the verified notice was 
filed).
    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 August 19, 
2022 (at least seven days before the exemption becomes effective).
    All pleadings, referring to Docket No. FD 36618, must be filed with 
the Surface Transportation Board either via e-filing on the Board's 
website or in writing addressed to 395 E Street SW, Washington, DC 
20423-0001. In addition, a copy of each pleading must be served on KS's 
representative, Eric M. Hocky, Clark Hill PLC, Two Commerce Square, 
2001 Market St., Suite 2620, Philadelphia, PA 19103.
    According to KS, this action is categorically excluded from 
environmental review under 49 CFR 1105.6(c) and from historic 
preservation reporting requirements under 49 CFR 1105.8(b).
    Board decisions and notices are available at www.stb.gov.

    Decided: August 5, 2022.

    By the Board, Mai T. Dinh, Director, Office of Proceedings.
Brendetta Jones,
Clearance Clerk.
[FR Doc. 2022-17342 Filed 8-11-22; 8:45 am]
BILLING CODE 4915-01-P

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