Notice2024-19153
Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt New Market Data Reports
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
August 27, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 166 (Tuesday, August 27, 2024)</title>
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[Federal Register Volume 89, Number 166 (Tuesday, August 27, 2024)]
[Notices]
[Pages 68660-68664]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-19153]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-100798; File No. SR-CboeBYX-2024-030]
Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt
New Market Data Reports
August 21, 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 August 15, 2024, Cboe BYX Exchange, Inc. (the ``Exchange'' or
``BYX'') 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
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 BYX Exchange, Inc. (the ``Exchange'' or ``BYX'') proposes to
adopt new market data reports. 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/equities/regulation/rule_filings/byx/">http://markets.cboe.com/us/equities/regulation/rule_filings/byx/</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 Rule 11.22 (Data Products) to adopt
the Cboe Timestamping Service, which is a market data service comprised
of two distinct market data reports. The Cboe Timestamping Service will
provide timestamp information for orders and cancels for market
participants. More specifically, the Cboe Timestamping Service reports
will provide various timestamps relating to the message lifecycle
throughout the exchange system. The first report--the Missed Liquidity
Report--will cover order messages and the second report--Cancels
Report--will cover cancel messages. The proposed reports are optional
products that will be available to all Members and Members may opt to
choose both reports, one report, or neither report. Corresponding fees
will be assessed based on the number of reports selected.\5\
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\5\ The Exchange plans to submit a separate filing with the
Commission pursuant to Section 19(b)(1) to propose fees for the
Missed Liquidity Report and Cancels Report.
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The Exchange notes that the data included in the proposed reports
will be based only on the data of the market participant that opts to
subscribe to the reports (``Recipient Member'') and will not include
information related to any Member other than the Recipient Member. The
Exchange will restrict all other market participants from receiving
another market participant's data. Additionally, neither report
includes real-time market data. Rather, the reports will contain
historical data from the prior trading day and will be available after
the end of the trading day, generally on a T+1 basis.
Currently, the Exchange provides real-time prices and analytics in
the marketplace. The Exchange proposes to introduce the Missed
Liquidity and Cancel Reports in response to Member demand for
additional data concerning the timeliness of their incoming orders,
cancel messages and executions against resting orders. Members have
frequently requested from the Exchange's trading operations personnel
information concerning the timeliness of their incoming orders, cancel
messages and efficacy of their attempts to execute against resting
liquidity on the Exchange's Book. The Exchange believes the additional
data points outlined below may help Members gain a better understanding
about their interactions with the Exchange. The Exchange believes these
reports will provide Members with an opportunity to learn more about
better opportunities to access liquidity and receive better execution
rates and improve order cancel success. The proposed reports will also
increase transparency and democratize information so that all Members
that subscribe to either or both reports have access to the same
information on an equal basis.
The proposed Missed Liquidity Report will provide time details for
executions of orders that rest on the book where the Member receiving
the report attempted to execute against that resting order within an
Exchange-determined amount of time (not to exceed 1 millisecond) after
receipt of the first attempt to execute against the resting order and
within an Exchange-determined amount of time (not to exceed 100
microseconds) before receipt of the first attempt to execute against
the resting order.\6\ For example, if a Member sends in a marketable
order, but an order resting on the Exchange order book was subsequently
executed, the Missed Liquidity Report can assist the Member in
determining by how much time that order missed an execution.\7\
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\6\ The Exchange will announce the Exchange-determined
timeframes with reasonable advance notice via Exchange Notice.
\7\ For example, Participant A submits an order that is posted
to the Exchange's Book. Participant B at some point thereafter
enters a marketable order to execute against Participant A's resting
order. Within 500 microseconds of Participant B's submission,
Participant C, also sends a marketable order to execute against
Participant A's resting order. Because Participant B's order is
received by the Exchange before Participant C's order, Participant
B's order executes against Participant A's resting order. The
proposed Report would provide Participant C (the Recipient Member of
the report) the data points necessary for that firm to calculate by
how much time they missed executing against Participant A's resting
order.
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[[Page 68661]]
The Cancels Report will provide liquidity response time details for
orders that rest on the book where the Member receiving the report
attempted to cancel that resting order or any other resting order
within an Exchange-determined amount of time (not to exceed 1
millisecond) after receipt of the order that executed against the
resting order and within an Exchange-determined amount of time (not to
exceed 100 microseconds) before receipt of the order that executed
against the resting order.\8\ For example, if a market participant
sends in a cancel message, but an order resting on the Exchange order
book was executed prior to the system processing the cancel message,
the Cancel report can assist the market participant in determining by
how much time that order missed being canceled instead of executing.\9\
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\8\ The Exchange will announce the Exchange-determined
timeframes with reasonable advance notice via Exchange Notice.
\9\ For example, Participant A submits an order that is posted
to the Exchange's Book and Participant B at some point thereafter
submits a marketable order to execute against Participant A's
resting order. Within 500 microseconds of submission of Participant
B's order, Participant A sends a cancel message to cancel its
resting order. Because Participant B's order is processed at the
Matching Engine by the Exchange before Participant A's cancel
message, Participant B's order executes against Participant A's
resting order. The proposed Report would provide Participant A the
data points necessary for that firm to calculate by how much time
they missed canceling its resting order.
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Both the Missed Liquidity Report and Cancels Report will include
the following data elements for orders \10\ and cancel messages,\11\
respectively: (1) Recipient Member Firm ID; (2) Symbol; (3) Execution
ID; \12\ (3) Exchange System Timestamps for orders and cancels; \13\
(4) Matching Unit number; \14\ (5) Queued; \15\ (6) Port Type; \16\ and
(7) Aggressor Order Type.\17\ No specific information about resting
orders on the Exchange book will be provided.
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\10\ The Missed Liquidity Report will only include trade events
which are triggered by an order that removed liquidity on entry and
will exclude trade events resulting from: elected stop orders,
orders routed and executed at away venues, and peg order movements,
and auctions.
\11\ Includes individual order cancellations, mass cancels, and
purge orders messages that are sent via Financial Information
Exchange (``FIX'') protocol or Binary Order Entry (BOE) protocol by
a subscriber.
\12\ The Execution ID is a unique reference number assigned by
the Exchange for each trade.
\13\ Includes Network Discovery Time (which is a network
hardware switch timestamp taken at the network capture point); Order
Handler NIC Timestamp (which is a hardware timestamp that represents
when a BOE order handler server NIC observed the message); Order
Handler Received Timestamp (which is software timestamp that
represents when the FIX or BOE order handler has begun processing
the order after the socket read); Order Handler Send Timestamp
(which represents when the FIX or BOE order handler has finished
processing the order and begun sending to the matching engine);
Matching Engine NIC Timestamp (which is a hardware timestamp that
represents when the target matching engine server NIC observed the
message); and Matching Engine Transaction Timestamp (which is a
software timestamp that represents when the matching engine has
started processing an event).
\14\ Represents the matching unit number.
\15\ Flag to indicate whether a message was delayed due to
message in flight limits (i.e., a limit on the total number of
messages in flight between an order handler and a matching engine).
\16\ Refers to the port type used by the session to send the
applicable message.
\17\ Indicates whether the order type of the response order that
executed against the resting order was a new order or modify
message.
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Market participants generally would use liquidity accessing orders
if there is a high probability that it will execute an order resting on
the Exchange order book. As noted above, the Missed Liquidity Report
helps subscribing market participants to better understand by how much
time they missed executing against certain resting orders. The Exchange
therefore believes this report will provide greater visibility into
what was missed in trading so market participants can better determine
whether they want to invest in the technology to mitigate the misses.
It may also allow for them to optimize their models and trading
patterns to yield better execution results. Similarly, the Cancels
Report will provide information that helps subscribing market
participants determine how best to improve success rates with respect
to canceling their orders, which reduces exposure and manages risk.
The Exchange notes the data information contained within the
proposed Missed Opportunities Report and Cancels Report are similar to
data provided in reports that currently are, or historically have been,
offered by other exchanges.\18\
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\18\ The proposed Report is based on a similar report previously
provided by the NASDAQ Stock Market LLC (``NASDAQ'') for equity
securities called the Missed Opportunity--Latency report as part of
its NASDAQ Trader Insights offering. See Securities Exchange Act
Release No. 78886 (September 20, 2016), 81 FR 66113 (September 26,
2016) (SR-NASDAQ-2016-101) (Order Granting Approval of Proposed Rule
Change, as Modified by Amendment Nos. 1 and 2, To Add NASDAQ Rule
7046 (Nasdaq Trading Insights)) (``NASDAQ Approval Order''). The
report is also similar to a report currently provided by MIAX
Emerald, LLC (``MIAX Emerald'') and its affiliates, called the
Liquidity Taker Event Report. See e.g., MIAX Emerald Rule 531. See
also Securities Exchange Act Release No. 91356 (March 18, 2021), 86
FR 15759 (March 24, 2021) (SR-EMERALD-2021-09).
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Implementation
The Exchange will announce via Exchange Notice the implementation
date of the proposed rule change, which shall occur no later than 60
days after the operative date of this rule filing.
2. Statutory Basis
The Exchange believes that the proposed Cboe One Options Feed [sic]
is consistent with Section 6(b) of the Act,\19\ in general, and
furthers the objectives of Section 6(b)(5) of the Act,\20\ in
particular, in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to remove impediments to and perfect the mechanism
of a free and open market and a national market system, and to protect
investors and the public interest, and that it is not designed to
permit unfair discrimination among customers, brokers, or dealers. The
Exchange also believes this proposal is consistent with Section 6(b)(5)
of the Act because it protects investors and the public interest and
promotes just and equitable principles of trade by providing investors
with new options for receiving market data as requested by market
participants and Section 6(b)(8) of the Act, which requires that the
rules of an exchange not impose any burden on competition that is not
necessary or appropriate in furtherance of the purposes of the Act.\21\
This proposal is in keeping with those principles in that it promotes
increased transparency through the dissemination of the optional Missed
Liquidity and Cancels Report to those interested in paying to receive
either or both of these reports.
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\19\ 15 U.S.C. 78f.
\20\ 15 U.S.C. 78f(b)(5).
\21\ 15 U.S.C. 78f(b)(8).
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The Exchange also believes this proposal is consistent with Section
6(b)(5) of the Act because it protects investors and the public
interest and promotes just and equitable principles of trade by
providing investors with new options for receiving market data as
requested by potential purchasers. The proposed rule change would
benefit investors by facilitating their prompt access to the value-
added information that is included in the proposed reports. The reports
will allow Members to access information regarding their trading
activity that they may utilize to evaluate their own trading behavior
and order interactions. It also promotes just and equitable principles
of trade because it would provide latency information in a systematized
way and standardized format to any Member that chooses to subscribe to
the proposed reports. As discussed, the proposed reports are also not
real-time market data products, but rather provide only historical
trading data for the previous trading day, generally on a T+1 basis. In
addition, the data in the reports
[[Page 68662]]
regarding incoming orders that failed to execute or incoming cancels
that failed to cancel would be specific to the Recipient Member's
messages. As noted above, no specific information about the resting
orders on the Exchange book will be provided and any information
relating to another Member would be anonymized.
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 consumers of such
data. It was believed that this authority would expand the amount of
data available to users and consumers of such data and also spur
innovation and competition for the provision of market data. The
Exchange believes that the proposed reports are the sort of market data
product that the Commission envisioned when it adopted Regulation NMS.
The Commission concluded that Regulation NMS--by deregulating the
market in proprietary data--would itself further the Act's goals of
facilitating efficiency and competition:
``[E]fficiency is promoted when broker-dealers who do not need the
data beyond the prices, sizes, market center identifications of the
NBBO and consolidated last sale information are not required to receive
(and pay for) such data. The Commission also believes that efficiency
is promoted when broker-dealers may choose to receive (and pay for)
additional market data based on their own internal analysis of the need
for such data.'' \22\
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\22\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496 (June 29, 2005) (``Regulation NMS Adopting
Release'').
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By removing ``unnecessary regulatory restrictions'' on the ability
of exchanges to sell their own data, Regulation NMS advanced the goals
of the Act and the principles reflected in its legislative history.
This proposed Cboe Timestamping Service (i.e., the Missed Liquidity and
Cancels Reports) provides investors with new options for receiving
market data, which was a primary goal of the market data amendments
adopted by Regulation NMS.\23\
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\23\ See Regulation NMS Adopting Release, supra, at 37503.
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The proposed reports are designed for Members that are interested
in gaining insight into latency in connection with their respective (1)
orders that failed to execute against an order resting on the Exchange
order book and/or (2) cancel messages that failed to cancel resting
orders. The Exchange believes that providing this optional data to
interested market participants for a fee is consistent with
facilitating transactions in securities, removing impediments to and
perfecting the mechanism of a free and open market and a national
market system, and, in general, protecting investors and the public
interest because it provides additional information and insight to
subscribing market participants regarding their trading activity on the
Exchange. More specifically, the proposed reports provide greater
visibility into exactly what was missed in trading so market
participants may optimize their models and trading patterns to yield
better execution results by identifying by how much time an order that
may have been marketable missed executing and by how much time a cancel
message missed canceling.
As mentioned above, other exchanges currently offer, or have
previously offered, similar trading related reports that have been
reviewed and approved by the Commission.\24\ For example, MIAX Emerald
currently offers the Liquidity Taker Event Report and Nasdaq
historically provided the Missed Opportunity--Latency report as part of
its NASDAQ Trader Insights offering.\25\ MIAX Emerald's Liquidity Taker
Event Report and Nasdaq's prior Missed Opportunity--Latency report,
like the proposed Missed Liquidity Report, identify by how much time an
order missed executing against a resting order. Also, like the MIAX
Emerald and Nasdaq's analogous reports, the Exchange's proposed reports
are provided on a T+1 basis and include data specific to one Member,
and only that Member would receive the report. The proposed reports,
like the reports of MIAX Emerald and Nasdaq, restrict all other market
participants, including the Recipient Member, from receiving another
market participant's data. In addition, the proposed reports, like the
MIAX Emerald and Nasdaq reports, are each intended to provide the
Recipient Member with the time duration by which the order entered by
the Recipient Member missed an execution or similarly, missed canceling
an order before it could execute.\26\ The proposed reports, along with
the MIAX Emerald Liquidity Taker Event Report and/or Nasdaq Missed
Opportunities--Latency reports, each include the following information:
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\24\ Supra Note 18.
\25\ The Exchange notes that like Nasdaq's Missed Opportunity--
Latency report, the proposed reports cover equity securities,
whereas the MIAX Emerald Liquidity Taker Event Report covers options
trading. The Exchange believes this difference is of no consequence
as each of these reports are intended to serve the same purpose--
providing firms with an opportunity to learn more about when they
may have better opportunities to access liquidity and to receive
better execution rates or cancel success.
\26\ Although not clearly defined, the Exchange believes that
MIAX Emerald's Liquidity Taker Event Report also provides
information relating to cancel messages. Particularly, MIAX Emerald
Liquidity Taker Event Report provides, among other things, data
relating to the ``type of each response submitted by the Recipient
Member.'' See MIAX Emerald Rule 5.31(a)(iii)(C). MIAX Emerald's
technical specifications outline the various types of available
liquidity messages including, Simple Mass Quote Cancel Request and
Mass Liquidity Cancel Request See MIAX Express Interface for Quoting
and Trading Options, MEI Interface Specification, Section 4.1
(Liquidity Messages), available at:
MIAX_Express_Interface_MEI_v2.2a.pdf (<a href="http://miaxglobal.com">miaxglobal.com</a>). The Exchange
also believes that providing the same data points for cancel
messages as the data provided for orders messages is of no materials
consequence as the Cancels Report is intended to serve a similar
purpose as the proposed Missed Liquidity Report--providing Members
additional information to better understand the efficacy of their
incoming orders and cancel messages.
<bullet> Recipient Member identifier
<bullet> Symbol
<bullet> Execution ID
<bullet> Order reference number (unique reference number assigned to a
new order at the time of receipt)
<bullet> Exchange System Timestamps for incoming orders and cancels,
including timestamps to determine the time difference between the time
the first response that executes against the resting order was received
by the Exchange and the time of each response sent by the Recipient
Member, regardless of whether it executed or not
<bullet> The order type of the response that executes against the
resting order
The proposed reports include the following information that are/
were not included in either the MIAX Emerald Liquidity Taker Event
Report and/or Nasdaq Missed Opportunities--Latency Report:
<bullet> Matching Unit Number. This information is specific to the
Exchange's matching unit architecture
<bullet> Queued. This information indicates whether or not a message
was delayed due to message in flight limits, which limits are specific
to the Exchange only
<bullet> The port type
Lastly, the proposed reports do not include the following
information that is/was included in both the MIAX Emerald Liquidity
Taker Event Report and Nasdaq Missed Opportunities--Latency Report:
<bullet> Side (buy or sell). This information is already available via
OPRA or the Exchange's proprietary data feeds
<bullet> Displayed price and size. This information is already
available via
[[Page 68663]]
OPRA or the Exchange's proprietary data feeds
<bullet> The time a resting order was received by the Exchange. The
Exchange does not believe information relating to the time a resting
order was received is as relevant as the above-described data that will
be included nor is it necessary with respect to the goal of the
proposed reports which is to better understand by how much time a
particular order missed executing against an order resting on the Book
or a cancel message missed canceling against an order resting on the
Book.
As illustrated above, the proposed reports are substantially
similar to the MIAX Emerald Liquidity Taker Event Report and Nasdaq's
former Missed Opportunities--Latency Report and includes a number of
the same data elements designed to assist Members in better
understanding their trading activity on the Exchange and augment their
trading strategies to improve their execution opportunities.
In approving Nasdaq's Missed Opportunity--Latency report, the
Commission noted that the report ``would increase transparency,
particularly for Members who may not have the expertise to generate the
same information.'' \27\ The Exchange's proposed reports would achieve
the same goal for Members seeking to better understand the efficacy of
their incoming orders and cancel messages. Further, the proposed
reports promote just and equitable principles of trade because it will
increase transparency and democratize information so that all firms may
elect to subscribe to either, or both, reports even though some firms
may not have the appropriate resources to generate a similar report
themselves.
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\27\ See Securities Exchange Act Release No. 78886 (September
20, 2016), 81 FR 66113 (September 26, 2016) (SR-NASDAQ-2016-101)
(Order Granting Approval of Proposed Rule Change, as Modified by
Amendment Nos. 1 and 2, To Add NASDAQ Rule 7046 (Nasdaq Trading
Insights)) (``NASDAQ Approval Order'').
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The Exchange proposes to provide the reports on a voluntary basis
and no Member will be required to subscribe to either report. The
Exchange notes that there is no rule or regulation that requires the
Exchange to produce, or that a Member elect to receive, either report.
It is entirely a business decision of each Member to subscribe to one,
both, or neither report. The Exchange proposes to offer the reports as
a convenience to Members to provide them with additional information
regarding trading activity on the Exchange on a delayed basis after the
close of regular trading hours. A Member that chooses to subscribe to
the reports may discontinue receiving either report at any time if that
Member determines that the information contained in the Report is no
longer useful.
In summary, the proposed reports will help to protect a free and
open market by providing additional historical data (offered on an
optional basis) to the marketplace and by providing investors with
greater choices. Additionally, the proposal would not permit unfair
discrimination because the proposed reports will be available to all
Exchange Members.
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, the Exchange
believes that the proposed Report will enhance competition by providing
a new option for receiving market data to Members. The proposed Report
will also further enhance competition between exchanges by allowing the
Exchange to expand its product offerings to include reports similar to
a report that is currently offered by other exchanges.\28\
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\28\ See e.g., MIAX Emerald Rule 531.
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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. Market
participants are not required to purchase either proposed report, and
the Exchange is not required to make either report available to
investors. Rather, the Exchange is voluntarily making these reports
available, as requested by Members, and Members may choose to receive
(and pay for) this data based on their own business needs. Potential
purchasers may request the data at any time if they believe it to be
valuable or may decline to purchase such data.
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:
A. significantly affect the protection of investors or the public
interest;
B. impose any significant burden on competition; and
C. 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 \29\ and
Rule 19b-4(f)(6) \30\ 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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\29\ 15 U.S.C. 78s(b)(3)(A).
\30\ 17 CFR 240.19b-4(f)(6).
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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#542621383179373b3939313a2027142731377a333b22"><span class="__cf_email__" data-cfemail="1a686f767f37797577777f746e695a697f79347d756c">[email protected]</span></a>. Please include
file number SR-CboeBYX-2024-030 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-CboeBYX-2024-030. 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
[[Page 68664]]
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-CboeBYX-2024-030 and should be submitted on or before September 17,
2024.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\31\
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\31\ 17 CFR 200.30-3(a)(12).
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Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-19153 Filed 8-26-24; 8:45 am]
BILLING CODE 8011-01-P
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