Notice2023-21937
Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Automated Price Improvement Auction Rules
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
October 4, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 191 (Wednesday, October 4, 2023)</title>
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[Federal Register Volume 88, Number 191 (Wednesday, October 4, 2023)]
[Notices]
[Pages 68730-68734]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-21937]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-98591; File No. SR-CboeEDGX-2023-060]
Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To
Amend Its Automated Price Improvement Auction Rules
September 28, 2023.
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 September 27, 2023, 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 and II
below, which Items have been prepared by the Exchange. The Exchange
filed the proposal as a ``non-controversial'' proposed rule change
pursuant to Section 19(b)(3)(A)(iii) of the Act \3\ and Rule 19b-
4(f)(6) thereunder.\4\ 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.
\3\ 15 U.S.C. 78s(b)(3)(A)(iii).
\4\ 17 CFR 240.19b-4(f)(6).
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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 automated price improvement auction rules. 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>), 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 provisions in Rule 21.19 (Automated
Price Improvement Mechanism (``AIM'' or ``AIM Auction'')) and Rule
21.22 (Complex Automated Improvement Mechanism (``C-AIM'' or ``C-AIM
Auction'')) regarding concurrent AIM and C-AIM Auctions, respectively.
The Exchange also proposes to update the provisions in those Rules
regarding the minimum increment.
By way of background, Rules 21.19 and 21.22 contain the
requirements applicable to the execution of orders using AIM and C-AIM,
respectively. The AIM and C-AIM auctions are electronic auctions
intended to provide orders that Members represent as agent (``Agency
Orders'') with opportunities to receive price improvement (over the
National Best Bid or Offer (``NBBO'') in AIM, or the synthetic best bid
or offer (``SBBO'') on the Exchange in C-AIM). Upon submitting an
Agency Order into an AIM or C-AIM auction, the initiating Member
(``Initiating Member'') must also submit a contra-side second order
(``Initiating Order'') for the same size as the Agency Order. The
Initiating Order guarantees that the Agency Order will receive an
execution at no worse than the auction price (i.e., acts as a stop).
During an AIM or C-AIM Auction, market participants may submit
responses to trade against the Agency Order. At the end of an auction,
depending on the contra-side interest available, the Initiating Order
may be allocated a certain percentage of the Agency Order.\5\
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\5\ See generally Rules 21.19(e) and 21.22(e).
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An Initiating Member may initiate an AIM or C-AIM auction provided
that the Agency Order is in a class and of sufficient size as
determined by the Exchange.\6\ Upon receipt of an Agency Order, the AIM
or C-AIM auction process commences. Currently, under Rule 21.19(c)(1),
for Agency Orders for less than 50 standard option contracts (or 500
mini-option contracts), only one AIM Auction may be ongoing at any
given time in a series, and AIM Auctions in the same series may not
queue or overlap in any manner. One or more AIM Auctions in the same
series for Agency Orders of 50 standard option contracts (or 500 mini-
option contracts) or more may occur at the same time. The Exchange
proposes amending Rule 21.19(c)(1) to allow one or more AIM Auctions in
the same series to occur at the same time for Agency Orders for less
than 50 standard option contracts (or 500 mini-option contracts). This
would effectively allow for one or more AIM Auctions in the same series
to occur at the same time for orders of all sizes. Concurrent AIM
Auctions for these smaller-sized orders will occur in the same manner
as concurrent AIM Auctions for orders of 50 or more contracts occur
today.\7\
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\6\ See generally Rules 21.19(a) and 21.22(a).
\7\ See Rule 21.19(c)(1) (which provides that if there is more
than one AIM Auction in a series underway at a time, those auctions
will conclude sequentially based on the exact time each auction
commenced, including if they are terminated early pursuant to Rule
21.19(d)); and Rule 21.22(c)(1)(A) and (B) (which provides that if
there is more than one C-AIM Auction in a complex strategy underway
at a time, those auctions will conclude sequentially based on the
exact time each auction commenced, including if they are terminated
early pursuant to Rule 21.22(d)).
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Similarly, under current Rule 21.22(c)(1)(A), with respect to
Agency Orders for which the smallest leg is less than 50 standard
option contracts (or 500 mini-option contracts), only one C-AIM Auction
may be ongoing at any given time in a complex strategy, and C-AIM
Auctions in the same complex strategy may not queue or overlap in any
manner. One or more C-AIM Auctions in the same complex strategy for
Agency Orders for which the smallest leg is 50 standard option
contracts (or 500 mini-option contracts) or more may occur at the same
time. The Exchange proposes amending Rule 21.22(c)(1)(A) to allow one
or more C-AIM Auctions in a complex strategy to occur at the same time
for Agency Orders for which the smallest leg is less than 50 standard
option contracts (or 500 mini-option contracts). This would
[[Page 68731]]
effectively allow for one or more C-AIM Auctions in the same complex
strategy to occur at the same time for complex orders of all sizes. The
Exchange believes this proposed functionality will allow more AIM
Auctions in the same series and more C-AIM Auctions in the same complex
strategy to be conducted, thereby increasing opportunities for price
improvement on the Exchange to the benefit of all market participants.
Currently, if an Agency Order of fewer than 50 contracts (or 500
mini-option contracts) is submitted to AIM or C-AIM while an AIM or C-
AIM Auction is in progress, the Agency order is rejected. The proposal
to add concurrent AIM and C-AIM Auctions for Agency Orders of any size,
including for Agency Orders of fewer than 50 contracts (or 500 mini-
option contracts), would also prevent the rejection of these smaller
Agency Orders that occurs when such smaller Agency Orders are submitted
while an AIM or C-AIM Auction is in progress. By eliminating this
rejection scenario, the Exchange would increase execution and price
improvement opportunities for these smaller Agency orders to the
benefit of investors.
The Exchange notes that allowing more than one price improvement
auction at a time in the same series for paired agency orders of fewer
than 50 contracts is not new or novel and is current functionality on
at least one other options exchange.\8\ While the Exchange is unaware
of another options exchange that offers concurrent price improvement
auctions for orders in complex strategies for which the smallest leg is
fewer than 50 contracts, other options exchanges (as well as the
Exchange) permit simple price improvement auctions to occur
simultaneously with complex price improvement auctions for complex
strategies involving the same series, with no size restrictions.\9\
Having simple price improvement auctions in multiple legs of a complex
strategy in progress at the same time as a complex price improvement
auction for that complex strategy for orders of any size is similar to
two complex price improvement auctions in the same complex strategy
being in progress at the same time. Additionally, the benefits of
allowing concurrent price improvement auctions for simple orders of all
sizes and complex strategies with 50 contracts in the smallest leg or
more (as described above) would apply to concurrent price improvement
auctions for complex strategies with fewer than 50 contracts in the
smallest leg. Specifically, allowing concurrent C-AIM Auctions in the
same complex strategy if the smallest leg has fewer than 50 contracts
would benefit investors because it would afford smaller-sized complex
orders increased opportunities to solicit price-improving auction
interest. The Exchange further believes this proposed change would
provide additional benefits to customers, as smaller-sized orders tend
to represent retail interest, and could improve the customer experience
on the Exchange by increasing trading opportunities in the C-AIM
Auctions.
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\8\ See, e.g., NYSE American LLC (``NYSE American'') Rule
971.1NYP(c) (as recently amended) (see Securities Exchange Act
Release No. 97938 (July 18, 2023), 88 FR 47536 (July 24, 2023) (SR-
NYSEAMER-2023-35) (permitting concurrent simple price improvement
auctions).
\9\ See, e.g., NYSE American Rule 971.1NYP, Commentary .01; BOX
Exchange LLC (``BOX'') Rules 7150, IM-7150-1 and 7245, IM-7245-2;
and Nasdaq ISE, LLC (``ISE'') Options 3, Sections 11(g) and 13,
Supplementary Material .04.
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The proposal to allow concurrent AIM and C-AIM Auctions for Agency
Orders for less than 50 contracts (or 500 mini-option contracts) in the
same series or complex strategy, respectively, would benefit investors
because it would afford smaller-sized Agency Orders increased
opportunities for price improvement, including because such smaller
Agency Orders would no longer be rejected if submitted while an AIM or
C-AIM Auction is in progress.
The Exchange also proposes to amend the minimum increment
requirement for AIM and C-AIM Auctions. Rules 21.19(a)(4) and
21.22(a)(4) currently require the price of the Agency Order and
Initiating Order to be in an increment of $0.01, for AIM and C-AIM
Auctions respectively. The Exchange proposes amending Rules 21.19(a)(4)
and 21.22(a)(4) to require the price of the Agency Order and Initiating
Order to be in an increment the Exchange determines on a class basis,
which may be smaller than $0.01.\10\ The Exchange notes that currently
the minimum increment for AIM and C-AIM auctions for all classes listed
on the Exchange is $0.01, so the proposed rule amendments result in no
changes from a practical perspective; however, because the minimum
quoting increment for certain classes is greater than $0.01 in
accordance with Rule 21.5, it is possible the Exchange may determine to
have a different minimum increment for AIM and C-AIM auctions.
Additionally, these proposed amendments further align the Exchange
Rules with that of its affiliate, Cboe Exchange, Inc.
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\10\ As part of the proposed rule change, the Exchange proposes
to amend other provisions within Rules 21.19 and 21.22 which
explicitly reference the minimum increment of $0.01, to reflect the
proposed change; specifically, the Exchange proposes to amend Rule
21.19(b)(1)(A), (b)(1)(B), (b)(2)(A), (b)(2)(B), (c)(5)(A), and
(c)(5)(B), and Rule 21.22(b)(1)(A), (b)(2), (b)(3)(A), (c)(5)(A),
and (c)(5)(B).
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The Exchange will continue to protect smaller-sized simple Agency
Orders in minimum increment-wide markets by requiring price improvement
of at least one minimum increment for such orders and rejecting such
orders in minimum increment-wide markets that do not provide for such
price improvement.\11\ Additionally, the Exchange will continue to
protect Priority Customers on the Simple Book by requiring price
improvement of at least one minimum increment better than the SBBO if
the applicable side of the BBO on any component of the complex Agency
Order complex strategy represents a Priority Customer on the Simple
Book.\12\ These protections would apply when the proposed concurrent
Auctions are occurring. Thus, the Exchange believes the proposed
changes should allow the Exchange to better compete for auction-related
order flow that may lead to an increase in Exchange volume, while
continuing to ensure that displayed customer interest on the Book is
protected, to the benefit of all market participants.
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\11\ See Rule 21.19(b)(1). The proposed rule change continues to
provide price improvement assurances for those for buy (sell) Agency
Orders submitted for AIM Auction processing with less than 50
standard option contracts (or 500 mini-option contracts) and NBBO
width equaling the minimum increment, pursuant to Rule
21.19(b)(1)(A), as amended.
\12\ See Rule 21.22(b)(1).
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The Exchange believes that its System has sufficient capacity to
process a large volume of concurrent AIM and C-AIM Auctions for Agency
Orders of any size, including for Agency Orders of fewer than 50
contracts (or 500 mini-option contracts).
Additionally, the Exchange proposes to amend Rule 21.22(c)(1)(B)
related to early termination priority in the event of concurrent AIM
and C-AIM Auctions. Currently, if the System receives a simple order
that causes AIM and C-AIM (or multiple AIM and/or C-AIM) Auctions to
end in early termination, the System first processes AIM Auctions (in
price-time priority) and then processes C-AIM Auctions (in price-time
priority). The Exchange proposes to update Rule 21.22(c)(1)(B) to
provide for the processing of early terminations in time priority in
these instances. Under the proposed rule, if the System receives a
simple order that causes AIM and C-AIM (or multiple AIM and/or C-AIM)
Auctions to end in early termination, the System will continue to first
process AIM Auctions (sequentially based on the exact time each AIM
Auction commenced) and then process
[[Page 68732]]
C-AIM Auctions (sequentially based on the exact time each C-AIM Auction
commenced), which is consistent with the priority the System processes
concurrent AIM Auctions and concurrent C-AIM Auctions.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\13\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \14\ 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. Additionally,
the Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \15\ requirement that the rules of an exchange not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
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\13\ 15 U.S.C. 78f(b).
\14\ 15 U.S.C. 78f(b)(5).
\15\ Id.
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The Exchange believes the proposal to permit concurrent AIM and C-
AIM Auctions for Agency Orders for less than 50 contracts (or 500 mini-
option contracts) in the same series or complex strategy, respectively,
would remove impediments to and perfect the mechanisms of a free and
open market and a national market system because it would extend
concurrent auction functionality to smaller-sized Agency Orders. The
Exchange also believes this proposed change is non-controversial
because it does not raise any issues that differ from those previously
considered when the Exchange and other options exchanges adopted this
functionality for larger-sized agency orders submitted to price
improvement auctions, or when another options exchange adopted this
functionality (pursuant to an immediately effective, noncontroversial
rule filing) for smaller-sized simple agency orders submitted into a
price improvement auction.\16\ The Exchange believes the proposal will
benefit investors because it would afford smaller-sized Agency Orders
increased opportunity to solicit price-improving auction interest. The
Exchange further believes that this proposed rule change would provide
additional benefits to customers, as smaller-sized Agency Orders tend
to represent retail interest, and could improve the customer experience
on the Exchange by increasing trading opportunities in AIM and C-AIM
Auctions. Notwithstanding the proposal to allow concurrent AIM auctions
for smaller-sized Agency Orders, the Exchange would continue to protect
customer interest on the simple Book by requiring price improvement
over the BBO to initiate an Auction for smaller-sized Agency Orders and
rejecting such orders in increment wide markets when price improvement
is not possible. Additionally, the Exchange will continue to protect
Priority Customers on the Simple Book by requiring price improvement of
at least one minimum increment better than the SBBO if the applicable
side of the BBO on any component of the complex Agency Order complex
strategy represents a Priority Customer on the Simple Book.\17\
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\16\ See supra note 8.
\17\ See supra note 12.
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Further, the Exchange believes the proposed new functionality to
allow concurrent AIM and C-AIM auctions for Agency Orders of any size
is consistent with the Act, as the proposed rule changes will prevent
the rejection of these smaller Agency Orders that occurs when such
smaller Agency Orders are submitted while an AIM or C-AIM Auction is in
progress, which the Exchange believes will increase execution
opportunities for these smaller Agency orders to the benefit of
investors. For example, in July 2023, the new functionality would have
provided investors with additional price improvement and execution
opportunities via approximately 4,500 additional AIM or C-AIM Auctions
that were otherwise rejected due to current concurrency limitations.
The Exchange also believes this proposed new functionality to allow
concurrent AIM and C-AIM auctions for Agency Orders of any size should
promote and foster competition and provide more options contracts with
the opportunity for price improvement, which should benefit all market
participants. In addition, this proposed change may lead to an increase
in Exchange volume and should allow the Exchange to better compete
against other markets that permit overlapping price improvement
auctions, while continuing to ensure that displayed customer interest
on the simple Book is protected. The proposed enhancement to allow
concurrent auctions for Agency Orders of any size would be a
competitive change and may make the Exchange a more attractive venue
for auction-related order flow. As noted above, the Exchange believes
that its trading platform has sufficient capacity to process a large
volume of concurrent Auctions for Agency Orders of any size, including
for Agency Orders of fewer than 50 contracts (or 500 mini-option
contracts).
Further, the Exchange believes its proposal to amend its AIM and C-
AIM Rules to require the minimum increment for AIM and C-AIM Auctions
to be in an increment the Exchange determines on a class basis, which
may be no smaller than $0.01, and to update provisions within the Rules
to reference this increment, would remove impediments to and perfect
the mechanisms of a free and open market and a national market system.
The purpose of the AIM and C-AIM Auction mechanisms is to provide price
improvement opportunities. By expanding the minimum increment
requirement, such price improvement opportunities could, in the future,
be expanded to additional classes that may have a minimum increment
greater than $0.01.
Further, certain provisions in the AIM and C-AIM Rules require
price improvement, for example, for smaller orders where the width of
the NBBO is as narrow as possible. However, if the minimum increment
for a class is, for example, $0.05, it would not be possible to price
improve penny-wide market in the permissible minimum increment of
$0.05. The Exchange believes the proposal, which is consistent with the
original intention of current AIM and C-AIM rules, will ensure such
orders receive this price improvement when the NBBO is as narrow as
possible, to the benefit of the marketplace and investors.
Finally, the Exchange believes the proposed rule change related to
the processing of AIM and C-AIM Auctions in the event of early
termination will promote just and equitable principles of trade, in
accordance with the Act. The Exchange believes processing concurrent
AIM and C-AIM Auctions that end in early termination in time priority
is a fair and equitable process, and consistent with the priority
applicable to concurrent AIM Auctions and concurrent C-AIM Auctions
when they are terminated early.
[[Page 68733]]
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. The Exchange does not
believe the proposed rule change will impose any burden on intramarket
competition that is not necessary or appropriate in furtherance of the
purposes of the Act, because it will apply uniformly to Members. The
proposed rule change will result in smaller orders receiving the same
opportunities for execution and price improvement through AIM and C-AIM
that are already afforded to larger orders, which are not subject to
the concurrency restriction.
As noted above, the proposed rule change proposal to amend its AIM
and C-AIM Rules to require the minimum increment for AIM and C-AIM
Auctions to be in an increment the Exchange determines on a class
basis, which may be no smaller than $0.01, and to update provisions
within the Rules to reference this increment will ensure that all
classes that may be listed on the Exchange may be eligible for AIM and
C-AIM Auctions, which the Exchange believes will result in orders in
all classes receiving the same price improvement opportunities through
AIM and C-AIM, in a consistent manner. Further, the Exchange does not
believe the proposed rule change related to the processing of AIM and
C-AIM Auctions in the event of early termination will impose any burden
on intramarket competition that is not necessary or appropriate in
furtherance of the purposes of the Act, as it will apply in the same
manner to all Agency Orders.
Additionally, the Exchange notes that participation in the AIM and
C-AIM Auctions is completely voluntary. The Exchange believes all
market participants, particular those that submit smaller orders, may
benefit from any additional liquidity, execution opportunities, and
price improvement in the AIM and C-AIM Auctions that may result from
the proposed rule change.
The Exchange does not believe the proposed rule change will impose
any burden on intermarket competition that is not necessary or
appropriate in furtherance of the purposes of the Act. The Exchange
notes that it operates in a highly competitive market in which market
participants can readily direct order flow to competing venues who
offer similar functionality. The Exchange believes this proposed rule
change would promote fair competition among the options exchanges and
establish more uniform functionality across the various price
improvement auctions offered by other options exchanges. The proposed
functionality may lead to an increase in Exchange volume and should
allow the Exchange to better compete against other options markets that
already offer similar price improvement mechanisms and for this reason
the proposal does not create an undue burden on intermarket
competition. By contrast, not having the proposed functionality places
the Exchange at a competitive disadvantage vis-[agrave]-vis other
exchanges that offer similar price improvement mechanisms. As noted
above, another options exchange adopted this functionality (pursuant to
an immediately effective, noncontroversial rule filing) to allow for
concurrent price improvement auctions for smaller-sized simple agency
orders,\18\ and other options exchanges (as well as the Exchange)
permit simple price improvement auctions to occur simultaneously with
complex price improvement auctions for complex strategies involving the
same series, with no size restrictions.\19\
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\18\ See supra note 8.
\19\ See supra note 9. The Exchange also notes that the proposed
change to the minimum increment requirement for AIM and C-AIM
Auctions is consistent with at least one other exchange, namely Cboe
Exchange, Inc.
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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
Because the foregoing proposed rule change does not: (i)
significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \20\ and Rule 19b-
4(f)(6) \21\ 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.
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\20\ 15 U.S.C. 78s(b)(3)(A).
\21\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Commission has waived the five-day prefiling requirement in this
case.
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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#9fedeaf3fab2fcf0f2f2faf1ebecdfecfafcb1f8f0e9"><span class="__cf_email__" data-cfemail="dfadaab3baf2bcb0b2b2bab1abac9facbabcf1b8b0a9">[email protected]</span></a>. Please include
file number SR-CboeEDGX-2023-060 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-CboeEDGX-2023-060. 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 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
a.m. and 3 p.m. Copies of the filing also 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
[[Page 68734]]
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-CboeEDGX-2023-060 and should be submitted on or before
October 25, 2023.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
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\22\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-21937 Filed 10-3-23; 8:45 am]
BILLING CODE 8011-01-P
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