Notice2026-17064
Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Rules at Options 7, Section 4 (Complex Order Fees and Rebates) and Section 6 (Other Options Fees and Rebates)
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
August 21, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 161 (Friday, August 21, 2026)</title>
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[Federal Register Volume 91, Number 161 (Friday, August 21, 2026)]
[Notices]
[Pages 54415-54419]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-17064]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-106158; File No. SR-ISE-2026-46]
Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the
Exchange's Rules at Options 7, Section 4 (Complex Order Fees and
Rebates) and Section 6 (Other Options Fees and Rebates)
August 18, 2026.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\
[[Page 54416]]
notice is hereby given that on August 6, 2026, Nasdaq ISE, LLC (``ISE''
or ``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``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.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend the Exchange's Rules at Options 7,
Section 4 (Complex Order Fees and Rebates) and Section 6 (Other Options
Fees and Rebates).\3\
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\3\ The Exchange initially filed this proposal on August 3, 2026
(SR-ISE-2026-45). On August 6, 2026, the Exchange withdrew SR-ISE-
2026-45 and submitted this filing.
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The text of the proposed rule change is available on the Exchange's
website at <a href="https://listingcenter.nasdaq.com/rulebook/ise/rulefilings">https://listingcenter.nasdaq.com/rulebook/ise/rulefilings</a>,
and at the principal office of the Exchange.
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 and
discussed any comments it received on 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
sections 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
1. Purpose
The purpose of the proposed rule change is to amend the complex
order \4\ rebates in the Exchange's Pricing Schedule (Options 7).
Specifically, the Exchange proposes to amend its Pricing Schedule at
Section 4 (Complex Order Fees and Rebates) and Section 6 (Other Options
Fees and Rebates).
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\4\ A ``Complex Order'' is any order involving the simultaneous
purchase and/or sale of two or more different options series in the
same underlying security, as provided in Options 3, Section 14, as
well as Stock-Option Orders, as that term is defined in Options 3,
Section 14(a)(2). See Options 7, Section 1(c).
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Options 7, Section 4 (Complex Order Fees and Rebates)
Currently, the Exchange offers tiered complex order rebates for
Select Symbols \5\ and Non-Select Symbols \6\ based on the Priority
Customer \7\ Complex Tier achieved.\8\ The schedule of tiered complex
order Priority Customer rebates for Select Symbols and Non-Select
Symbols is currently as follows:
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\5\ ``Select Symbols'' are options overlying all symbols listed
on the Nasdaq ISE that are in the Penny Interval Program. See
Options 7, Section 1(c).
\6\ ``Non-Select Symbols'' are options overlying all symbols
excluding Select Symbols. No Priority Customer complex order rebates
will be paid for orders in NDX, XND or MNX. See Options 7, Section
4, note 4.
\7\ The term ``Priority Customer'' is a person or entity that is
not a broker/dealer in securities, and does not place more than 390
orders in listed options per day on average during a calendar month
for its own beneficial account(s), as defined in Options 1, Section
1(a)(38). Unless otherwise noted, when used in the Pricing Schedule,
the term ``Priority Customer'' includes ``Retail''. See Options 7,
Section 1(c). A ``Retail'' order is a Priority Customer order that
originates from a natural person, provided that no change is made to
the terms of the order with respect to price or side of market and
the order does not originate from a trading algorithm or any other
computerized methodology. See id.
\8\ Priority Customer Complex Tiers are based on Total
Affiliated Member or Affiliated Entity Complex Order Volume
(Excluding Crossing Orders and Responses to Crossing Orders)
Calculated as a Percentage of Customer Total Consolidated Volume.
``Customer Total Consolidated Volume'' means the total national
volume cleared at The Options Clearing Corporation in the Customer
range in equity and ETF options in that month. See Options 7,
Section 1(c). All Complex Order volume executed on the Exchange,
including volume executed by Affiliated Members, is included in the
volume calculation, except for volume executed as Crossing Orders
and Responses to Crossing Orders. Affiliated Entities may aggregate
their Complex Order volume for purposes of calculating Priority
Customer Rebates. An ``Appointed OFP'' would receive the rebate
associated with the qualifying volume tier based on aggregated
volume. See Options 7, Section 4, note 16. As set forth in Options
7, Section 1(c), an Appointed OFP is an Order Flow Provider who has
been appointed by a Market Maker for purposes of qualifying as an
Affiliated Entity, and an Order Flow Provider is any Member, other
than a Market Maker, that submits orders, as agent or principal, to
the Exchange.
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Total affiliated member or
affiliated entity complex order
volume (excluding crossing orders Rebate for Rebate for non-
Priority customer complex tier and responses to crossing orders) select symbols select symbols
calculated as a percentage of
customer total consolidated volume
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Tier 1..................................... 0.000%-0.200%...................... ($0.25) ($0.50)
Tier 2..................................... Above 0.200%-0.400%................ (0.30) (0.60)
Tier 3..................................... Above 0.400%-0.600%................ (0.40) (0.80)
Tier 4..................................... Above 0.600%-0.900%................ (0.49) (0.90)
Tier 5..................................... Above 0.900%-1.350%................ (0.53) (0.99)
Tier 6..................................... Above 1.350%-1.750%................ (0.54) (1.00)
Tier 7..................................... Above 1.750%-2.250%................ (0.56) (1.11)
Tier 8..................................... Above 2.250%-4.500%................ (0.58) (1.13)
Tier 9..................................... Above 4.500%....................... (0.59) (1.16)
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The above rebates are provided per contract, per leg, if the order
trades with Non-Priority Customer \9\ orders in the complex order book.
This rebate will be reduced by $0.20 per contract in Select Symbols
where the largest leg of the Complex Order is under fifty (50)
contracts and trades with quotes and orders on the regular order book.
No Priority Customer Complex Order rebates are provided in Select
Symbols if any leg of the order that trades with interest on the
regular order book is fifty (50) contracts or more. No Priority
Customer Complex Order rebates are provided in Non-Select Symbols if
any leg of the order trades with interest on the regular order book,
irrespective of order size.
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\9\ ``Non-Priority Customers'' include Market Makers, Non-Nasdaq
ISE Market Makers, Firm Proprietary/Broker-Dealers, and Professional
Customers. See Options 7, Section 1(c).
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The Exchange also offers additional tiered rebates, in addition to
the existing Priority Customer Complex Tier rebates, for Select Symbols
and for Non-Select Symbols, provided the Member has also transacted an
average daily volume of greater than 10,000 contracts of FLEX
[[Page 54417]]
Orders \10\ in a given month. As is the case with the Priority Customer
Complex Tier rebates, these additional tiered rebates are provided per
contract, per leg, if the order trades with Non-Priority Customer
orders in the complex order book. For purposes of calculating this
threshold, eligible volume from Affiliated Members and Affiliated
Entities is aggregated.
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\10\ A ``FLEX Order'' is an order submitted in a FLEX Option
pursuant to Options 3A. See Options 3, Section 7(z). See also
Options 3A, Section 1(b)(2). A ``FLEX Option'' is a flexible
exchange option. See Options 3A, Section 1(b)(1). A FLEX Order can
also be a Complex Order. Therefore, it is possible for a single
order to count both towards the Priority Customer complex tier
qualification, as well as the additional tiered rebates for Members
who have also transacted an average daily volume of greater than
10,000 contracts of FLEX Orders.
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The additional tiered rebate, in addition to the Priority Customer
Complex Tier rebates, for Select Symbols is currently as follows:
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Tier 1.................................................. ($0.00)
Tier 2.................................................. (0.02)
Tier 3.................................................. (0.03)
Tier 4.................................................. (0.06)
Tier 5.................................................. (0.02)
Tier 6.................................................. (0.01)
Tier 7.................................................. (0.00)
Tier 8.................................................. (0.00)
Tier 9.................................................. (0.00)
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The additional tiered rebate, in addition to the Priority Customer
Complex Tier rebates, for Non-Select Symbols is currently as follows:
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Tier 1.................................................. ($0.00)
Tier 2.................................................. (0.05)
Tier 3.................................................. (0.10)
Tier 4.................................................. (0.20)
Tier 5.................................................. (0.12)
Tier 6.................................................. (0.12)
Tier 7.................................................. (0.03)
Tier 8.................................................. (0.01)
Tier 9.................................................. (0.00)
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The Exchange proposes to add a note 18 to Section 4 that would read
as follows: ``Members whose Total Affiliated Member or Affiliated
Entity Complex Order Volume (excluding Crossing Orders and Responses to
Crossing Orders) calculated as a percentage of Customer Total
Consolidated Volume would otherwise qualify them for Priority Customer
Complex rebates below Tier 4 will receive the Tier 4 Priority Customer
Complex rebates if such Members have Total Affiliated Member or
Affiliated Entity Volume of 1.2% or more as a percentage of Customer
Total Consolidated Volume. Those Members would also be eligible to
receive the Tier 4 additional rebates in notes ** and ## of this
Section.'' In other words, Members whose complex order volume might
only qualify them for Tiers 1, 2, or 3 of the Priority Customer Complex
rebates, would now qualify for Tier 4 of the Priority Customer Complex
rebates if they have Total Affiliated Member \11\or Affiliated Entity
Volume \12\ of 1.2% or more as a percentage of Customer Total
Consolidated Volume.\13\ Furthermore, those Members would now also be
eligible to receive the additional rebates available to Members that
have also transacted an average daily volume of greater than 10,000
contracts of FLEX Orders in a given month.
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\11\ An ``Affiliated Member'' is a Member that shares at least
75% common ownership with a particular Member as reflected on the
Member's Form BD, Schedule A. See Options 7, Section 1(c).
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The composition of national options order flow can vary
significantly from month to month. Therefore, on a given month a Member
may not execute sufficient Priority Customer Complex order flow on the
Exchange to qualify for Tier 4 or higher of the Priority Customer
Complex rebates, even if the Member has Total Affiliated Member or
Affiliated Entity Volume of 1.2% or more as a percentage of Customer
Total Consolidated Volume. This new provision would incentivize Members
that transact a large overall amount of order flow on the Exchange to
transact more of their Priority Customer Complex order flow to the
Exchange, by providing them with the more attractive Priority Customer
Complex pricing provided by Tier 4 of the Priority Customer Complex
rebates, even if their Priority Customer Complex order flow might
otherwise only qualify them for Tiers 1, 2, or 3.
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\12\ An ``Affiliated Entity'' is a relationship between an
Appointed Market Maker and an Appointed OFP for purposes of
qualifying for certain pricing specified in the Schedule of Fees.
See Options 7, Section 1(c).
\13\ ``Customer Total Consolidated Volume'' means the total
national volume cleared at The Options Clearing Corporation in the
Customer range in equity and ETF options in that month. See Options
7, Section 1(c).
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Section 6 (Other Options Fees and Rebates)
Currently, the Exchange offers a PIM \14\ rebate of $0.11 per
contract to Electronic Access Members \15\ that utilize PIM to execute
more than 0.75% of Priority Customer volume in Regular Orders,\16\
calculated as a percentage of Customer Total Consolidated Volume per
day in a given month.\17\ The rebate is paid for Priority Customer
Regular Orders under 250 contracts that are submitted to PIM.\18\
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\14\ PIM is the Exchange's Price Improvement Auction as
described in Options 3, Section 13. A PIM is comprised of the order
the Electronic Access Member represents as agent (the ``Agency
Order'') and a counter-side order for the full size of the Agency
Order (the ``Counter-Side Order''). Responses, including the
Counter-Side Order, and Improvement Orders may be entered during the
exposure period. See Options 3, Section 13.
\15\ The term ``Electronic Access Member'' or ``EAM'' means a
Member that is approved to exercise trading privileges associated
with EAM Rights. See General 1, Section 1(a)(6).
\16\ A ``Regular Order'' is an order that consists of only a
single option series and is not submitted with a stock leg.
\17\ Eligible volume from Affiliated Members will be aggregated
in calculating the percentage.
\18\ The rebate is paid to the Agency Order as that term is
defined within Options 3, Section 13. In the event a Crossing
Transaction consists of two Priority Customer Orders, the Exchange
would not pay this rebate.
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The Exchange proposes to modify the amount of this rebate, from
$0.11 per contract, to $0.105 per contract.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\19\ in general, and furthers the objectives of
Sections 6(b)(4) and 6(b)(5) of the Act,\20\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees and
other charges among members and issuers and other persons using any
facility, and is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
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\19\ 15 U.S.C. 78f(b).
\20\ 15 U.S.C. 78f(b)(4) and (5).
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[[Page 54418]]
The Commission and the courts have repeatedly expressed their
preference for competition over regulatory intervention in determining
prices, products, and services in the securities markets. In Regulation
NMS, while adopting a series of steps to improve the current market
model, 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.'' \21\
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\21\ Securities Exchange Act Release No. 51808 (June 9, 2005),
70 FR 37496, 37499 (June 29, 2005).
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Likewise, in NetCoalition v. Securities and Exchange Commission
\22\ (``NetCoalition'') the D.C. Circuit upheld the Commission's use of
a market-based approach in evaluating the fairness of market data fees
against a challenge claiming that Congress mandated a cost-based
approach.\23\ As the court emphasized, the Commission ``intended in
Regulation NMS that `market forces, rather than regulatory
requirements' play a role in determining the market data . . . to be
made available to investors and at what cost.'' \24\
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\22\ NetCoalition v. SEC, 615 F.3d 525 (D.C. Cir. 2010).
\23\ See NetCoalition, at 534-535.
\24\ Id. at 537.
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Further, ``[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 broker-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\ Although the court and
the SEC were discussing the cash equities markets, the Exchange
believes that these views apply with equal force to the options
markets.
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\25\ Id. at 539 (quoting Securities Exchange Act Release No.
59039 (Dec. 2, 2008), 73 FR 74770, 74782-83 (Dec. 9, 2008) (File No.
SR-NYSEArca-2006-21)).
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The Exchange believes that its proposal to add new note 18 to
Options 7, Section 4 is reasonable because it is designed to
incentivize Members who have Total Affiliated Member or Affiliated
Entity Volume of 1.2% or more as a percentage of Customer Total
Consolidated Volume to transact more of their Priority Customer complex
order flow on the Exchange in order to qualify for the more attractive
Tier 4 Priority Customer Complex rebates. As explained above, the
composition of national options order flow can vary significantly from
month to month, so a Member may not always execute sufficient Priority
Customer complex order flow on the Exchange in a given month to qualify
for Tier 4 or higher of the Priority Customer Complex rebates, even if
the Member has Total Affiliated Member or Affiliated Entity Volume of
1.2% or more as a percentage of Customer Total Consolidated Volume. The
proposed 1.2% Total Affiliated Member or Affiliated Entity Volume
qualification is set at a level that requires a meaningful commitment
of overall order flow to the Exchange, and the Exchange believes that
offering the Tier 4 rebates on this basis will help attract additional
Priority Customer complex order flow to the Exchange, which will
benefit all market participants.
The Exchange's proposal to add new note 18 to Section 4 is
equitable and not unfairly discriminatory because the new incentive
will be uniformly applied to all Members that meet or exceed the
objective, transparent 1.2% Total Affiliated Member or Affiliated
Entity Volume threshold, and any Member may qualify by transacting
sufficient volume on the Exchange. All Members qualifying under note 18
will receive the same Tier 4 Priority Customer Complex rebates (and,
where applicable, the same Tier 4 additional rebates in notes ** and ##
of Section 4). Offering the note 18 incentive only to Priority Customer
orders is equitable and not unfairly discriminatory because Priority
Customer liquidity benefits all market participants by providing more
trading opportunities, which attracts Market Makers. An increase in the
activity of these market participants, particularly in response to
pricing, facilitates tighter spreads, which may cause an additional
corresponding increase in order flow from other market participants.
The Exchange's proposal to reduce the PIM rebate in Options 7,
Section 6.C from $0.11 per contract to $0.105 per contract is
reasonable. The Exchange has limited resources to allocate to its
incentive programs and periodically assesses its fee structure to
ensure that its rebates continue to attract order flow while remaining
sustainable. The proposed rebate of $0.105 per contract represents only
a modest reduction from the current $0.11 per contract level; the
Exchange believes that this rebate remains attractive and will continue
to incentivize qualifying Electronic Access Members to submit smaller-
sized Priority Customer Regular Orders to PIM for price improvement,
which benefits all market participants.
The Exchange's proposal to reduce the PIM rebate is equitable and
not unfairly discriminatory because the modified rebate will apply
uniformly to all Electronic Access Members that satisfy the objective
volume qualification (utilizing PIM to execute more than 0.75% of
Priority Customer volume in Regular Orders, calculated as a percentage
of Customer Total Consolidated Volume per day in a given month) with
respect to all Priority Customer Regular Orders under 250 contracts
submitted to PIM. Any Electronic Access Member is able to qualify for
the rebate by meeting the applicable volume threshold, and all
qualifying Members will receive the same $0.105 per contract rebate on
such orders. Paying this rebate only for Priority Customer Regular
Orders is equitable and not unfairly discriminatory because Priority
Customer liquidity benefits all market participants by providing more
trading opportunities, which attracts Market Makers, and increased
Market Maker activity facilitates tighter spreads that may cause an
additional corresponding increase in order flow from other market
participants.
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 not necessary or appropriate in
furtherance of the purposes of the Act.
Inter-Market Competition
The proposal does not impose an undue burden on inter-market
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. The Exchange believes its proposal remains
competitive with other options markets and will offer market
participants with another choice of where to transact options. 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 to remain competitive
with other exchanges. Because competitors are free to modify their own
fees 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
[[Page 54419]]
market may impose any burden on competition is extremely limited.
Intra-Market Competition
The Exchange's proposal to add new note 18 to Options 7, Section 4
will not impose an undue burden on intra-market competition. The new
incentive will be applied uniformly to all Members that meet or exceed
the objective, transparent 1.2% Total Affiliated Member or Affiliated
Entity Volume threshold as a percentage of Customer Total Consolidated
Volume, and any Member may qualify by transacting sufficient volume on
the Exchange. All Members qualifying under note 18 will receive the
same Tier 4 Priority Customer Complex rebates (and, where applicable,
the same Tier 4 additional rebates in notes ** and ## of Section 4).
Moreover, offering the note 18 incentive only to Priority Customer
orders does not impose an undue burden on intra-market competition
because Priority Customer liquidity benefits all market participants by
providing more trading opportunities, which attracts Market Makers. An
increase in the activity of these market participants, particularly in
response to pricing, facilitates tighter spreads, which may cause an
additional corresponding increase in order flow from other market
participants.
The Exchange's proposal to reduce the PIM rebate in Options 7,
Section 6.C from $0.11 per contract to $0.105 per contract likewise
will not impose an undue burden on intra-market competition. The
modified rebate will apply uniformly to all Electronic Access Members
that satisfy the same objective volume qualification, with respect to
all Priority Customer Regular Orders under 250 contracts submitted to
PIM. Any Electronic Access Member is able to qualify for the rebate by
meeting the applicable volume threshold. While the rebate is targeted
at Priority Customer Regular Orders, this does not impose an undue
burden on intra-market competition because Priority Customer liquidity
benefits all market participants by providing more trading
opportunities, which attracts Market Makers, and increased Market Maker
activity facilitates tighter spreads that may cause an additional
corresponding increase in order flow from other market participants.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
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)(ii) of the Act.\26\ 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: (i) necessary or appropriate in the public
interest; (ii) for the protection of investors; or (iii) otherwise in
furtherance of the purposes of the Act. If the Commission takes such
action, the Commission shall institute proceedings to determine whether
the proposed rule should be approved or disapproved.
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\26\ 15 U.S.C. 78s(b)(3)(A)(ii).
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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
<bullet> Use the Commission's internet comment form (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#7c0e091019511f1311111912080f3c0f191f521b130a"><span class="__cf_email__" data-cfemail="99ebecf5fcb4faf6f4f4fcf7edead9eafcfab7fef6ef">[email protected]</span></a>. Please include
file number SR-ISE-2026-46 on the subject line.
Paper Comments
<bullet> 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-ISE-2026-46. 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 (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>). Copies of the filing will be available for inspection and
copying at the principal office of the Exchange. Do not include
personal identifiable information in submissions; you should submit
only information that you wish to make available publicly. We may
redact in part or withhold entirely from publication submitted material
that is obscene or subject to copyright protection. All submissions
should refer to file number SR-ISE-2026-46 and should be submitted on
or before September 11, 2026.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\27\
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\27\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-17064 Filed 8-20-26; 8:45 am]
BILLING CODE 8011-01-P
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