Notice2024-00848
Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule Related to Certain Data Fees
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
January 18, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 12 (Thursday, January 18, 2024)</title>
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[Federal Register Volume 89, Number 12 (Thursday, January 18, 2024)]
[Notices]
[Pages 3452-3456]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-00848]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-99326; File No. SR-CBOE-2024-002]
Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend
Its Fee Schedule Related to Certain Data Fees
January 11, 2024.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on January 2, 2024, Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe
Options'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
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[[Page 3453]]
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe Options'') proposes
to amend its Fees 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://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx">http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx</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 its Fees Schedule, effective January
2, 2024.
Open-Close Data
The Exchange proposes to amend certain fees related to its
provision of Open-Close Data. By way of background, the Exchange
currently offers End-of-Day (``EOD'') and Intraday Open-Close Data
(collectively, ``Open-Close Data''). EOD Open-Close Data is an end-of-
day volume summary of trading activity on the Exchange at the option
level by origin (customer, professional customer, broker-dealer, and
market maker), side of the market (buy or sell), price, and transaction
type (opening or closing). The customer and professional customer
volume is further broken down into trade size buckets (less than 100
contracts, 100-199 contracts, greater than 199 contracts). The Open-
Close Data is proprietary Cboe Options trade data and does not include
trade data from any other exchange. It is also a historical data
product and not a real-time data feed.
The Exchange also offers Intraday Open-Close Data, which provides
similar information to that of Open-Close Data but is produced and
updated every 10 minutes during the trading day. Data is captured in
``snapshots'' taken every 10 minutes throughout the trading day and is
available to subscribers within five minutes of the conclusion of each
10-minute period.\3\ The Intraday Open-Close Data provides a volume
summary of trading activity on the Exchange at the option level by
origin (customer, professional customer, broker-dealer, and market
maker), side of the market (buy or sell), and transaction type (opening
or closing). The customer and professional customer volume are further
broken down into trade size buckets (less than 100 contracts, 100-199
contracts, greater than 199 contracts). The Intraday Open-Close Data is
also proprietary Cboe Options trade data and does not include trade
data from any other exchange.
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\3\ For example, subscribers to the intraday product will
receive the first calculation of intraday data by approximately 9:42
a.m. ET, which represents data captured from 9:30 a.m. to 9:40 a.m.
Subscribers will receive the next update at 9:52 a.m., representing
the data previously provided together with data captured from 9:40
a.m. through 9:50 a.m., and so forth. Each update will represent the
aggregate data captured from the current ``snapshot'' and all
previous ``snapshots.''
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Cboe LiveVol, LLC (``LiveVol''), a wholly owned subsidiary of the
Exchange's parent company, Cboe Global Markets, Inc., makes the Open-
Close Data available for purchase to TPHs and non-TPHs on the LiveVol
DataShop website (<a href="http://datashop.cboe.com">datashop.cboe.com</a>). Customers may currently purchase
Intraday Open-Close Data on a subscription basis (monthly or annually)
or by ad hoc request for a specified month (e.g., request for Intraday
Open-Close Data for month of December 2023). The Exchange assesses a
monthly fee of $2,000 (or $24,000 per year) for subscribing to the data
feed and assesses a fee of $1,000 per request per month for an ad-hoc
request of historical Intraday Open/Close data covering all Exchange-
listed securities. The Exchanges notes that Open-Close Data is subject
to direct competition from similar end-of-day and intraday options
trading summaries offered by several other options exchanges.\4\ All of
these exchanges offer essentially the same end-of-day and intraday
options trading summary information, which may be purchased on both a
subscription and ad-hoc basis and which are similarly priced.\5\
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\4\ These substitute products include: Nasdaq PHLX Options Trade
Outline, Nasdaq Options Trade Outline, ISE Trade Profile, GEMX Trade
Profile data; open-close data from C2, BZX, and EDGX; and Open Close
Reports from MIAX Options, Pearl, and Emerald.
\5\ See Price List--U.S. Derivatives Data for Nasdaq PHLX, LLC
(``PHLX''), The Nasdaq Stock Market, LLC (``Nasdaq''), Nasdaq ISE,
LLC (``ISE''), and Nasaq GEMX, LLC (``GEMX''), available at <a href="http://www.nasdaqtrader.com/Trader.aspx?id=DPPriceListOptions#web">http://www.nasdaqtrader.com/Trader.aspx?id=DPPriceListOptions#web</a>.
Particularly, PHLX offers ``Nasdaq PHLX Options Trade Outline
(PHOTO)'' and assesses $2,500 per month for an intraday subscription
and $1,000 per month for historical reports; Nasdaq offers the
``Nasdaq Options Trade Outline (NOTO)'' and assesses $750 per month
for an intraday subscription and $500 per month for historical
reports; ISE offers the ``Nasdaq ISE Open/Close Trade Profile'' and
assesses $2,000 per month for an intraday subscription and $1,000
per month for historical reports; and GEMX offers the ``Nasdaq GEMX
Open/Close Trade Profile'' and assesses $1,000 per month for an
intraday subscription and $750 per month for historical reports.
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The Exchange notes that the current fee for Intraday Open-Close
Data has been in place, without change, since 2020 when the Exchange
first adopted the Intraday Open-Close Data product offering. In the
time since, the Exchange has made enhancements to the offering,
including adding data from the Global Trading Hours (``GTH'') \6\
session to the Intraday Open-Close Data, in addition to the Regular
Trading Hours (``RTH'') and Curb sessions.\7\ As a result, Intraday
Open-Close Data is produced and updated every 10 minutes throughout all
trading sessions. The Exchange now proposes to increase the fee for
Intraday Open-Close Data.\8\ The Exchange proposes to assess a monthly
fee of $3,000 (or $36,000 per year) for subscribing to the data feed.
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\6\ See Rule 5.1(c). Except under unusual conditions as may be
determined by the Exchange or the Holiday hours set forth in Rule
5.1(d), GTH starts at 8:15 p.m. ET and continue through the next day
until 9:15 a.m. ET. Currently trading is limited to SPX, VIX, and
XSP.
\7\ See Rule 5.1 (b) (Regular Trading Hours) and Rule 5.1(d)
(Curb Trading Hours).
\8\ As part of the proposed rule change, the Exchange proposes
to delete language in the Fees Schedule regarding the provision of a
20% discount on fees assessed to Exchange Members and non-Members
that purchase $20,000 or more of historical Open-Close Data; such
discount program was effective from November 15, 2023 through
December 31, 2023, and is no longer in effect.
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Historical Depth Data
By way of background, the Exchange currently makes available for
purchase Depth Data, which is a daily archive of the Exchange's depth
of book real-time feed, which provides depth-of-book quotations and
execution information based on options orders entered into the
System.\9\ The Exchange also offers Historical Depth Data, for no
charge, which offers such data on a historical basis, i.e. T+1 or
later, dating back to
[[Page 3454]]
October 2019. The Depth Data and Historical Depth Data are available to
Members and Non-Members on the Cboe LiveVol, LLC (``LiveVol'')
website,\10\ for internal use only; LiveVol is a wholly owned
subsidiary of the Exchange's parent company, Cboe Global Markets, Inc.
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\9\ See Exchange Fees Schedule. Daily end-of-day delivery is
provided via the DataShop SFTP. Files will typically become
available after 8pm ET; see also Exchange Rule 1.1, which defines
``System.''
\10\ See <a href="https://datashop.cboe.com/cboe-us-options-multicast-pitch">https://datashop.cboe.com/cboe-us-options-multicast-pitch</a>.
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The Exchange and affiliated equities and options exchanges (i.e.,
Cboe C2 Exchange, Inc. (``C2 Options''), Cboe EDGX Exchange, Inc.
(``EDGX''), Cboe BYX Exchange, Inc. (``BYX''), Cboe BZX Exchange, Inc.
(``BZX''), and Cboe EDGA Exchange, Inc. (``EDGA'') (collectively,
``Affiliates'') also offer similar data products. Particularly, each of
the Exchange's Affiliates offer a daily and historical archive of their
depth of book real-time feed with execution information based on their
trading activity that is substantially similar to the information
provided by the Exchange through its Depth Data products.
Currently, the Exchange provides Historical Depth Data to users
without a charge. Since the Exchange first began offering access to
historical quotation and transactions data, the Exchange has made a
number of significant enhancements to its platform, including, among
other things, implementing a more efficient means of data delivery (via
SFTP rather than shipment of hard drives), which consequently increases
the value of the market data product.
The Exchange now proposes to amend its Fees Schedule and assess a
fee of $1,500 per month of Historical Depth Data accessed by a user. As
is currently the case, the data will be provided to data recipients for
internal use only, and thus, no redistribution will be permitted.
The Exchange notes that the Depth Data products, including the
Historical Depth Data, are completely voluntary products, in that the
Exchange is not required by any rule or regulation to make the reports
or services available and that potential subscribers may purchase it
only if they voluntarily choose to do so. Further, the Exchange notes
that other exchanges offer similar products for a fee.\11\
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\11\ See, e.g., <a href="https://www.nasdaqtrader.com/Trader.aspx?id=DPPriceListOptions#nom">https://www.nasdaqtrader.com/Trader.aspx?id=DPPriceListOptions#nom</a>; and <a href="https://www.nyse.com/publicdocs/nyse/data/NYSE_Market_Data_Fee_Schedule.pdf">https://www.nyse.com/publicdocs/nyse/data/NYSE_Market_Data_Fee_Schedule.pdf</a>.
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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.\12\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \13\ 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) \14\ requirement that the rules of an exchange not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers. The Exchange also believes the proposed rule
change is consistent with Section 6(b)(4) of the Act,\15\ which
requires that Exchange rules provide for the equitable allocation of
reasonable dues, fees, and other charges among its Trading Permit
Holders and other persons using its facilities.
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\12\ 15 U.S.C. 78f(b).
\13\ 15 U.S.C. 78f(b)(5).
\14\ Id.
\15\ 15 U.S.C. 78f(b)(4).
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The Exchange believes the proposed changes to increase the fee for
Intraday Open-Close Data subscriptions and adopt a fee for Historical
Depth Data are reasonable. In adopting Regulation NMS, the Commission
granted self-regulatory organizations (``SROs'') and broker-dealers
increased authority and flexibility to offer new and unique market data
to the public. It was believed that this authority would expand the
amount of data available to consumers, and also spur innovation and
competition for the provision of market data.
The Exchange also operates in a highly competitive environment.
Indeed, there are currently 17 registered options exchanges that trade
options. Based on publicly available information, no single options
exchange has more than 12% of the market share.\16\ The Commission has
repeatedly expressed its preference for competition over regulatory
intervention in determining prices, products, and services in the
securities markets. Particularly, 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.'' \17\ Making similar data products available to
market participants fosters competition in the marketplace, and
constrains the ability of exchanges to charge supracompetitive fees. In
the event that a market participant views one exchange's data product
as more or less attractive than the competition they can and do switch
between similar products.
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\16\ See Cboe Global Markets U.S. Options Market Volume Summary
(December 18, 2023), available at <a href="https://markets.cboe.com/us/options/market_statistics/">https://markets.cboe.com/us/options/market_statistics/</a>.
\17\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496, 37499 (June 29, 2005) (``Regulation NMS Adopting
Release'').
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The Exchange believes the proposed change will continue to broaden
the availability of U.S. option market data to investors consistent
with the principles of Regulation NMS. Open-Close Data is designed to
help investors understand underlying market trends to improve the
quality of investment decisions. Indeed, subscribers to the data may
enhance their ability to analyze option trade and volume data and
create and test trading models and analytical strategies, especially
given recent changes to the offering, including the addition of data
from the GTH trading session. The Exchange believes Open-Close Data
continues to provide a valuable tool that subscribers can use to gain
comprehensive insight into the trading activity in a particular series,
but also emphasizes such data is not necessary for trading and as noted
above, is entirely optional. Moreover, several other exchanges offer a
similar data product which offer the same type of data content through
end-of-day or intraday reports,\18\ with similar pricing.
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\18\ See supra note 4.
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Further, the Exchange believes the proposed changes to the Intraday
Open-Close Data fee are reasonable, given the enhancements to the
offering, including the addition of data from the GTH session, in
addition to the RTH and Curb sessions. As noted above, Intraday Open-
Close Data is now produced and updated every 10 minutes throughout all
trading sessions. The addition of the GTH session provides subscribers
with more granular insight into trading activity in the products that
trade during that session. The Exchange notes a wide variety of market
participants purchase Intraday Open-Close Data, including, but not
limited to, individual customers, buy-side investors, and investment
banks. The Exchange believes the Intraday Open-Close Data
[[Page 3455]]
product provides helpful trading information regarding investor
sentiment that may allow market participants to make better trading
decisions throughout the day and may be used to create and test trading
models and analytical strategies and provides comprehensive insight
into trading on the Exchange. For example, intraday open data may allow
a market participant to identify new interest or possible risks
throughout the trading day, while intraday closing data may allow a
market participant to identify fading interests in a security. The
product is a completely voluntary product, in that the Exchange is not
required by any rule or regulation to make this data available and that
potential subscribers may purchase it only if they voluntarily choose
to do so. The Exchange notes that other exchanges offer similar data
products, which are similarly priced.\19\
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\19\ See supra note 5.
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Additionally, the Exchange believes the proposed changes to the
Historical Depth Data fee are reasonable, as the Exchange's Historical
Depth Data is a competitively priced alternative to historical depth of
book data disseminated by other national securities exchanges. The
Exchange's Depth Data products, including Historical Depth Data,
benefits a wide range of investors that participate in the national
market system. As noted above, Nasdaq and NYSE have similar Depth Data
offerings for a charge.\20\ The Exchange therefore believes that the
proposed fees are reasonable and set at a level to compete with other
exchanges that offer similar reports. Indeed, proposing fees that are
excessively higher than established fees for similar data products
would simply serve to reduce demand for the Exchange's data product,
which as noted, is entirely optional. As such, if a market participant
views another exchange's potential report as more attractive, then such
market participant can merely choose not to purchase the Exchange's
Historical Depth Data offering and instead purchase another exchange's
similar data product, which offers similar data points, albeit based on
other market's trading activity. Further, the Exchange believes the
fees are reasonable since, as proposed, they represent a relatively
modest fee for historical depth of book data that has proven valuable
for investors.
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\20\ See supra note 11.
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The Exchange also believes that the proposed fee is reasonable
because it is reasonably aligned with the value and benefits provided
to users that choose to purchase Historical Depth Data from the
Exchange. As discussed above, Historical Depth Data may be beneficial
to Members and non-Members as it may provide helpful trading
information regarding investor sentiment that may allow market
participants to make more informed trading decisions and may be used to
create and test trading models and analytical strategies and provide
comprehensive insight into trading on the Exchange. As noted above,
since first offering Historical Depth Data, the Exchange has made a
number of significant enhancements to its platform, including, among
other things, implementing a more efficient means of data delivery (via
SFTP rather than shipment of hard drives), which consequently increases
the value of the market data product.
Finally, the Exchange believes that the proposed changes to the
Exchange's Intraday Open-Close Data and Historical Depth Data offerings
are equitable and not unfairly discriminatory because the changes to
the offerings apply to all current and potential subscribers of the
products uniformly, in that all subscribers will be assessed the new
proposed fee for purchases of Intraday Open-Close Data or Historical
Depth Data. As stated, purchase of Intraday Open-Close Data and
Historical Depth Data is completely optional and not necessary for
trading. Rather, the Exchange voluntarily makes Intraday Open-Close
Data and Historical Depth Data available, and users may choose to
purchase the data based on their own individual business needs.
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. As discussed above, the
Exchange's Intraday Open-Close Data and Historical Depth Data offerings
are subject to direct competition from several other exchanges that
offer similar data products. The proposed rule changes are grounded in
the Exchange's efforts to compete more effectively. In this competitive
environment, potential purchasers are free to choose which, if any,
similar product to purchase to satisfy their need for market
information. As a result, the Exchange believes the proposed rule
changes permit fair competition among national securities exchanges.
Additionally, 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. The changes
to the Intraday Open-Close Data and Historical Depth Data offerings
apply to all current and potential subscribers of the product
uniformly, in that all subscribers will be assessed the same fees for
subscribing to receive Intraday Open-Close Data and Historical Depth
Data. Moreover, purchase of Intraday Open-Close Data and Historical
Depth Data is optional.
Further, the Exchange also does not believe that the proposed rule
changes will impose any burden on intermarket competition that is not
necessary or appropriate in furtherance of the purposes of the Act. As
noted above, other exchanges offer similar data products, which are
similarly priced.\21\ 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 16
other options exchanges and off-exchange venues. Additionally, the
Exchange represents a small percentage of the overall market. Based on
publicly available information, no single options exchange has more
than 12% of the market share.\22\ Therefore, no exchange possesses
significant pricing power in the execution of option 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';
[[Page 3456]]
[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\ Accordingly, the Exchange does not believe its proposed fee
change imposes any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act.
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\21\ See supra notes 5 and 11.
\22\ See supra note 16.
\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 (D.C. Cir. 2010)
(quoting Securities Exchange Act Release No. 59039 (December 2,
2008), 73 FR 74770, 74782-83 (December 9, 2008) (SR-NYSEArca-2006-
21)).
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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
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.
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\25\ 15 U.S.C. 78s(b)(3)(A).
\26\ 17 CFR 240.19b-4(f).
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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#8efcfbe2eba3ede1e3e3ebe0fafdcefdebeda0e9e1f8"><span class="__cf_email__" data-cfemail="ff8d8a939ad29c9092929a918b8cbf8c9a9cd1989089">[email protected]</span></a>. Please include
file number SR-CBOE-2024-002 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-CBOE-2024-002. 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 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-CBOE-2024-002 and should be
submitted on or before February 8, 2024.
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. 2024-00848 Filed 1-17-24; 8:45 am]
BILLING CODE 8011-01-P
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