Notice2022-12647
Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule
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
June 13, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 87 Issue 113 (Monday, June 13, 2022)</title>
</head>
<body><pre>
[Federal Register Volume 87, Number 113 (Monday, June 13, 2022)]
[Notices]
[Pages 35842-35846]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-12647]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-95060; File No. SR-CboeEDGX-2022-029]
Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To
Amend Its Fee Schedule
June 7, 2022.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on June 1, 2022, Cboe EDGX Exchange, Inc. (the ``Exchange'' or
``EDGX'') 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 Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
Cboe EDGX Exchange, Inc. (the ``Exchange'' or ``EDGX'') proposes to
amend its Fee Schedule. The text of the proposed rule change is
provided in Exhibit 5.
The text of the proposed rule change is also available on the
Exchange's website (<a href="http://markets.cboe.com/us/options/regulation/rule_filings/edgx/">http://markets.cboe.com/us/options/regulation/rule_filings/edgx/</a>) [sic], at the Exchange's Office of the Secretary,
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 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 Exchange proposes to amend its Fee Schedule applicable to its
equities trading platform (``EDGX Equity'') to modify certain tiers
offered under the Add/Remove Volume Tiers, including certain Add Volume
Tiers, a Growth Tier, and a Remove Volume Tier. The Exchange proposes
to implement these changes effective June 1, 2022.
The Exchange first notes that it operates in a highly competitive
market in which market participants can readily direct order flow to
competing venues if they deem fee levels at a particular venue to be
excessive or incentives to be insufficient. More specifically, the
Exchange is only one of 16 registered equities exchanges, as well as a
number of alternative trading systems and other off-exchange venues
that do not have similar self-regulatory responsibilities under the
Exchange Act, to which market participants may direct their order flow.
Based on publicly available information,\3\ no single registered
equities exchange has more than 17% of the market share. Thus, in such
a low-concentrated and highly competitive market, no single equities
exchange possesses significant pricing power in the execution of order
flow. The Exchange in particular operates a ``Maker-Taker'' model
whereby it pays rebates to members that add liquidity and assesses fees
to those that remove liquidity. The Exchange's Fee Schedule sets forth
the standard rebates and rates applied per share for orders that
provide and remove liquidity, respectively. Currently, for orders in
securities priced at or above $1.00, the Exchange provides a standard
rebate of $0.00160 per share for orders that add liquidity and assesses
a fee of $0.0030 per share for orders that remove liquidity. For orders
in securities priced below $1.00, the Exchange provides a standard
rebate of $0.00009 per share for orders that add liquidity and assesses
a fee of 0.30% of the total dollar value for orders that remove
liquidity. Additionally, in response to the competitive environment,
the Exchange also offers tiered pricing which provides Members
opportunities to qualify for higher
[[Page 35843]]
rebates or reduced fees where certain volume criteria and thresholds
are met. Tiered pricing provides an incremental incentive for Members
to strive for higher tier levels, which provides increasingly higher
benefits or discounts for satisfying increasingly more stringent
criteria.
---------------------------------------------------------------------------
\3\ See Cboe Global Markets, U.S. Equities Market Volume
Summary, Month-to-Date (May 30, 2022), available at <a href="https://www.cboe.com/us/equities/market_statistics/">https://www.cboe.com/us/equities/market_statistics/</a>.
---------------------------------------------------------------------------
Modifications To Add Volume Tiers
Under footnote 1 of the Fee Schedule, the Exchange currently offers
various Add/Remove Volume Tiers. In particular, the Exchange offers
four Add Volume Tiers that each provide an enhanced rebate for Members'
qualifying orders yielding fee codes B \4\, V \5\, Y \6\, 3 \7\ or 4
\8\, where a Member reaches certain add volume-based criteria.
Specifically, the Add Volume Tiers are as follows:
---------------------------------------------------------------------------
\4\ Orders yielding Fee Code ``B'' are orders adding liquidity
to EDGX (Tape B).
\5\ Orders yielding Fee Code ``V'' are orders adding liquidity
to EDGX (Tape A).
\6\ Orders yielding Fee Code ``Y'' are orders adding liquidity
to EDGX (Tape C).
\7\ Orders yielding Fee Code ``3'' are orders adding liquidity
to EXGX in the pre and post market (Tapes A or C).
\8\ Orders yielding Fee Code ``4'' are orders adding liquidity
to EDGX in the pre and post market (Tape B).
---------------------------------------------------------------------------
<bullet> Tier 1 offers an enhanced rebate of $0.0020 per share for
qualifying orders (i.e., yielding fee codes B, V, Y, 3 or 4) where a
Member adds an ADV \9\ greater than or equal to 0.20% of the TCV.\10\
---------------------------------------------------------------------------
\9\ ``ADV'' means average daily volume calculated as the number
of shares added to, removed from, or routed by, the Exchange, or any
combination or subset thereof, per day.
\10\ ``TCV'' means total consolidated volume calculated as the
volume reported by all exchanges and trade reporting facilities to a
consolidated transaction reporting plan for the month for which the
fees apply.
---------------------------------------------------------------------------
<bullet> Tier 2 offers an enhanced rebate of $0.0023 per share for
qualifying orders (i.e., yielding fee codes B, V, Y, 3 or 4) where a
Member adds an ADV greater than or equal to 0.30% of the TCV.
<bullet> Tier 3 offers an enhanced rebate of $0.0027 per share for
qualifying orders (i.e., yielding fee codes B, V, Y, 3 or 4) where a
Member adds an ADV greater than or equal to 0.40% of the TCV.
<bullet> Tier 4 offers an enhanced rebate of $0.0029 per share for
qualifying orders (i.e., yielding fee codes B, V, Y, 3 or 4) where a
Member adds an ADV greater than or equal to 0.65% of the TCV.
The Exchange now proposes to modify Tier 2, remove existing Tier 3,
and, consequently, renumber Tier 4. Specifically, as proposed, the
Tiers would provide for the following:
<bullet> Proposed Tier 2 would offer an enhanced rebate of $0.0027
per share (instead of $0.0023 per share) for qualifying orders (i.e.,
yielding fee codes B, V, Y, 3 or 4) where a Member adds an ADV greater
than or equal to 0.28% of the TCV (instead of 0.30% of the TCV) or
Member adds an ADV greater than or equal to 30,000,000 (not a criteria
in current Tier 2).
<bullet> Proposed Tier 3 (current Tier 4) would offer an enhanced
rebate of $0.0029 per share for qualifying orders (i.e., yielding fee
codes B, V, Y, 3 or 4) where a Member adds an ADV greater than or equal
to 0.65% of the TCV.
Although the Exchange proposes to eliminate the current Tier 3,
thus limiting the amount of available Add Volume Tiers and
corresponding rebates available to Members, the Exchange proposes to
increase the rebate in Tier 2, slightly ease the percentage of ADV over
TCV, and provide an additional prong of criteria for Members to qualify
for the enhanced rebate under proposed Tier 2, which serves to
incentivize market participants to provide additional displayed
liquidity on the Exchange, thereby contributing to a deeper and more
liquid market, which benefits all market participants and provides
greater execution opportunities on the Exchange. The Exchange does not
propose any changes to the current Add Volume Tier 1.
Modification to Growth Volume Tier 4
In addition to the Add/Remove Volume Tiers under footnote 1 of the
Fee Schedule, the Exchange offers four Growth Tiers that each provide
an enhanced rebate for Members' qualifying orders yielding fee codes B,
V, Y, 3 or 4, where a Member reaches certain add volume-based criteria,
including ``growing'' its volume over a certain baseline month.
Currently, Growth Tier 4 provides an enhanced rebate of $0.0034 per
share to MPIDs that (1) add a Step-Up ADAV from October 2021 equal to
or greater than 0.10% of the TCV \11\ or MPIDs that add a Step-Up ADAV
from October 2021 equal to or greater than 16 million shares; and (2)
MPIDs that add an ADV \12\ equal to or greater than 0.30% of TCV or
MPIDs that add an ADV equal to or greater than 30 million shares. The
Exchange now proposes to amend the criteria in prong 2 of Growth Tier 4
by increasing the second add ADV criteria from greater than or equal to
30 million shares to 35 million shares.
---------------------------------------------------------------------------
\11\ ``TCV'' means total consolidated volume calculated as the
volume reported by all exchanges and trade reporting facilities to a
consolidated transaction reporting plan for the month for which the
fees apply.
\12\ ``ADV'' means average daily volume calculated as the number
of shares added to, removed from, or routed by, the Exchange, or any
combination or subset thereof, per day. ADV is calculated on a
monthly basis.
---------------------------------------------------------------------------
The Exchange notes that the purpose of the Growth Volume Tiers is
to encourage MPIDs to grow their volume on the Exchange as compared to
a baseline month. By increasing one of the add ADV criteria in the
second prong of Growth Volume Tier 4 while keeping the enhanced rebate
the same, the proposed rule change slightly increases the current
criteria's difficulty, which is intended to encourage liquidity adding
MPIDs on the Exchange to strive to reach Growth Tier 4 by increasing
the provision of liquidity to the Exchange, which increases execution
opportunities and provides for overall enhanced price discovery and
price improvement opportunities on the Exchange. Increased overall
order flow benefits all Members by contributing towards a robust and
well-balanced market ecosystem.
Modification To Remove Volume Tier
The Exchange also offers two Remove Volume Tiers under the Add/
Remove Volume Tiers in footnote 1 of the Fee Schedule. The Remove
Volume Tiers each assess a reduced fee for Members' qualifying orders
yielding fee codes BB \13\, N \14\ and W \15\ where a Member reaches
certain add volume-based criteria. Specifically, the Exchange proposes
to amend Remove Volume Tier 1, which currently offers a reduced fee of
$0.00275 per share in securities priced above $1.00 and 0.28% of the
total dollar value in securities priced below $1.00 for qualifying
orders (i.e., yielding fee codes BB, N or W) where (1) Member adds a
Step-Up ADAV \16\ from June 2021 greater than or equal to 0.10% of the
TCV or Member adds a Step-Up ADAV from June 2021 greater than or equal
to 8,000,000; and (2) Member has a total remove ADV greater than or
equal to 0.60% of the TCV or Member has a total remove ADV greater than
or equal to 60,000,000. The Exchange proposes to amend the criteria in
the second prong of Remove Volume Tier 1 by decreasing the second ADV
remove criteria from a total remove ADV of greater than or equal to
60,000,000 to a total remove ADV of greater than or equal to
45,000,000.
---------------------------------------------------------------------------
\13\ Orders yielding fee code ``BB'' are orders removing
liquidity from EDGX (Tape B).
\14\ Orders yielding fee code ``N'' are orders removing
liquidity from EDGX (Tape C).
\15\ Orders yielding fee code ``W'' are orders removing
liquidity from EDGX (Tape A).
\16\ ``Step-Up ADAV'' means ADAV in the relevant baseline month
subtracted from current ADAV. ``ADAV'' means average daily volume
calculated as the number of shares added per day. ADAV is calculated
on a monthly basis.
---------------------------------------------------------------------------
[[Page 35844]]
The proposed amendment to Remove Volume Tier 1 would lessen the
difficulty of the existing criteria while keeping the reduced fee the
same. The Exchange believes lowering the total remove ADV criteria in
the second prong of Remove Volume Tier 1 without changing the reduced
fee available to Members will encourage Members to strive to meet the
criteria by removing liquidity on the Exchange to receive the same
reduced fee. An increase in remove liquidity on the Exchange signals an
overall increase in activity from other market participants,
contributes to a deeper, more liquid market and provides additional
execution opportunities for active market participants, which benefits
the entire market system. The Exchange does not propose any changes to
current Remove Volume Tier 2.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the objectives of Section 6 of the Securities and Exchange Act of 1933
(the ``Act''),\17\ in general, and furthers the objectives of Section
6(b)(4),\18\ in particular, as it is designed to provide for the
equitable allocation of reasonable dues, fees and other charges among
its Members and issuers and other persons using its facilities. The
Exchange also believes that the proposed rule change is consistent with
the objectives of Section 6(b)(5) \19\ requirements that the rules of
an exchange be designed to prevent fraudulent and manipulative acts and
practices, to promote just and equitable principles of trade, to foster
cooperation and coordination with persons engaged in regulating,
clearing, settling, processing information with respect to, and
facilitating transactions in securities, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general, to protect investors and the public interest,
and, particularly, is not designed to permit unfair discrimination
between customers, issuers, brokers, or dealers. As described above,
the Exchange operates in a highly competitive market in which market
participants can readily direct order flow to competing venues if they
deem fee levels at a particular venue to be excessive or incentives to
be insufficient. The proposed rule change reflects a competitive
pricing structure designed to incentivize market participants to direct
their order flow to the Exchange, which the Exchange believes would
enhance market quality to the benefit of all Members.
---------------------------------------------------------------------------
\17\ 15 U.S.C. 78f.
\18\ 15 U.S.C. 78f(b)(4).
\19\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that the proposed changes to certain Add/
Remove Volume Tiers, specifically, Add Volume Tiers 2 and 3, Remove
Volume Tier 1, and Growth Tier 4, are reasonable, equitable and not
unfairly discriminatory because each tier, as modified, continues to be
available to all Members and provide Members an opportunity to receive
an enhanced rebate or a reduced fee. As noted above, the Exchange
operates in a highly competitive market. The Exchange is only one of 16
equity venues to which market participants may direct their order flow,
and it represents a small percentage of the overall market. It is also
only one of several maker-taker exchanges. Competing equity exchanges
offer similar rates and tiered pricing structures to that of the
Exchange, including schedules of rebates and fees that apply based upon
members achieving certain volume thresholds. Specifically, the Exchange
notes that relative volume-based incentives and discounts have been
widely adopted by exchanges,\20\ including the Exchange,\21\ and are
reasonable, equitable and non-discriminatory because they are open to
all Members on an equal basis and provide additional benefits or
discounts that are reasonably related to (i) the value to an exchange's
market quality and (ii) associated higher levels of market activity,
such as higher levels or liquidity provision and/or growth thresholds,
as well as assess similar fees or rebates for similar types of orders,
to that of the Exchange.
---------------------------------------------------------------------------
\20\ See BZX Equities Fee Schedule, Footnote 1, Add/Remove
Volume Tiers.
\21\ See EDGX Equities Fee Schedule, Footnote 1, Add/Remove
Volume Tiers.
---------------------------------------------------------------------------
In particular, the Exchange believes the proposed rule changes to
certain Add/Remove Volume Tiers are reasonable because the tiers will
continue to provide Members with an opportunity to receive an enhanced
rebate or reduced fee by encouraging Members to increase their order
flow to the Exchange. In particular, the Exchange believes that the
changes to the Add Volume Tiers will provide reasonable means for
Members to receive an enhanced rebate for adding liquidity on the
Exchange. While the Exchange has proposed to remove the existing Tier
3, it believes that by proposing to lower the percentage of ADV over
TCV in Tier 2 and proposing to add an additional ADV criteria to Tier
2, Members will continue to be incentivized to provide liquidity adding
volume to the Exchange. The Exchange also believes that the proposed
enhanced rebate for Add Volume Tier 2 continues to be commensurate with
the proposed criteria. That is, the rebate reasonably reflects the
difficulty in achieving the applicable criteria as amended.
Furthermore, the Exchange believes that the proposed increase to one of
the ADV criteria in Growth Tier 4 is reasonable because the proposal
represents a modest increase in volume as compared to the previous
criteria. The Growth Tiers incentivize Members to grow their add volume
as compared to a baseline month in order to receive an enhanced rebate
and the proposed increase in add ADV represents a reasonable incentive
for MPIDs to increase their liquidity adding order flow in order to
receive an enhanced rebate that reasonably reflects the difficulty in
achieving the criteria. Additionally, the Exchange believes the
proposed lower one of the remove ADV criteria in Remove Volume Tier 1
is reasonable because it will encourage Members to increase their
remove volume on the Exchange, as the proposed change will make it
easier for Members to receive a reduced fee for removing liquidity on
the Exchange. The Exchange believes the proposed changes to the Add/
Remove Volume Tiers are reasonably designed overall to incentivize
Members to continue to add and remove liquidity on the Exchange, thus
deepening the Exchange's liquidity pool, offering additional cost
savings to Members, supporting the quality of price discovery,
promoting market transparency, and improving market quality for all
investors.
The Exchange believes the proposed changes to the various Add/
Remove Volume Tiers represent an equitable allocation of rebates and
fees and are not unfairly discriminatory because all Members are
eligible for those tiers and would have the opportunity to meet a
tier's criteria and would receive the proposed enhanced rebate or
reduced fee if such criteria is met. Without having a view of activity
on other market and off-exchange venues, the Exchange has no way of
knowing whether this proposed rule change would definitely result in
any Members qualifying for the proposed tiers. While the Exchange has
no way of predicting with certainty how the proposed tiers will impact
Member activity, the Exchange anticipates that at least one Member will
be able to satisfy the criteria proposed for Add Volume Tier 2, Remove
Volume Tier 1, and Growth Tier 4. The Exchange also notes that the
proposed changes will not adversely
[[Page 35845]]
impact any Member's ability to qualify for other reduced fee or
enhanced rebated tiers. Should a Member not meet the proposed criteria
under the modified tier, the Member will merely not receive that
corresponding enhanced rebate or reduced fee. The Exchange also
believes the proposal to eliminate a tier is equitable and not unfairly
discriminatory because it applies to all Members, in that, such tier
will not be available for any Member. The Exchange believes that the
proposed changes to the Add/Remove Volume Tiers will benefit all market
participants by incentivizing continuous liquidity and, thus, deeper
more liquid markets as well as increased execution opportunities.
Particularly, the proposals are designed to incentivize liquidity,
which further contributes to a deeper, more liquid market and provide
even more execution opportunities for active market participants at
improved prices. This overall increase in activity deepens the
Exchange's liquidity pool, offers additional cost savings, supports the
quality of price discovery, promotes market transparency and improves
market quality, for all investors.
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 that is not necessary or appropriate
in furtherance of the purposes of the Act. Rather, as discussed above,
the Exchange believes that the proposed change would encourage the
submission of additional order flow to a public exchange, thereby
promoting market depth, execution incentives and enhanced execution
opportunities, as well as price discovery and transparency for all
Members. As a result, the Exchange believes that the proposed changes
further the Commission's goal in adopting Regulation NMS of fostering
competition among orders, which promotes ``more efficient pricing of
individual stocks for all types of orders, large and small.''
The Exchange believes the proposed rule change does not impose any
burden on intramarket competition that is not necessary or appropriate
in furtherance of the purposes of the Act. Particularly, the proposed
tier changes will apply to all Members equally in that all Members will
continue to be eligible for Add Tier 2, Remove Volume Tier 1 and Growth
Tier 4, have a reasonable opportunity to meet the tiers' criteria and
will receive the enhanced rebate or reduced fee on their qualifying
orders if such criteria are met. Also, as stated above, the proposal to
eliminate a tier applies to all Members, in that, such tier will not be
available for any Member. The Exchange does not believe the proposed
changes burden competition, but rather, enhance competition as they are
intended to increase the competitiveness of EDGX 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 17% of the market share.\22\ 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 off-exchange 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.'' \23\ 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 stated 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 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' . . .''.\24\
---------------------------------------------------------------------------
\22\ Supra note 3.
\23\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496, 37499 (June 29, 2005).
\24\ 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)).
---------------------------------------------------------------------------
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 \25\ and paragraph (f) of Rule 19b-4 \26\
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.
---------------------------------------------------------------------------
\25\ 15 U.S.C. 78s(b)(3)(A).
\26\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------
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="http://www.sec.gov/rules/sro.shtml">http://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#0b797e676e26686466666e657f784b786e68256c647d"><span class="__cf_email__" data-cfemail="1765627b723a74787a7a727963645764727439707861">[email protected]</span></a>. Please include
File Number SR-CboeEDGX-2022-029 on the subject line.
[[Page 35846]]
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-CboeEDGX-2022-029. 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="http://www.sec.gov/rules/sro.shtml">http://www.sec.gov/rules/sro.shtml</a>).
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-CboeEDGX-2022-029, and
should be submitted on or before July 5, 2022.
---------------------------------------------------------------------------
\27\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\27\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-12647 Filed 6-10-22; 8:45 am]
BILLING CODE 8011-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on June 13, 2022.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.