Notice2025-05964
Self-Regulatory Organizations; Cboe Futures Exchange, LLC; Notice of a Filing of a Proposed Rule Change To Accommodate the Use of Multiple Clearing Houses
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
April 8, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 66 (Tuesday, April 8, 2025)</title>
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[Federal Register Volume 90, Number 66 (Tuesday, April 8, 2025)]
[Notices]
[Pages 15180-15184]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-05964]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102760; File No. SR-CFE-2025-002]
Self-Regulatory Organizations; Cboe Futures Exchange, LLC; Notice
of a Filing of a Proposed Rule Change To Accommodate the Use of
Multiple Clearing Houses
April 2, 2025.
Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934
(``Act''),\1\ notice is hereby given that on March 24, 2025 Cboe
Futures Exchange, LLC (``CFE'' or ``Exchange'') filed with the
Securities and Exchange Commission (``Commission'') the proposed rule
change described in Items I, II, and III below, which Items have been
prepared by CFE. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons. CFE also
has filed this proposed rule change with the Commodity Futures Trading
Commission (``CFTC''). CFE filed a written certification with the CFTC
under Section 5c(c) of the Commodity Exchange Act (``CEA'') \2\ on
March 24, 2025.
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\1\ 15 U.S.C. 78s(b)(7).
\2\ 7 U.S.C. 7a-2(c).
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I. Self-Regulatory Organization's Description of the Proposed Rule
Change
CFE currently utilizes The Options Clearing Corporation (``OCC'')
as the Derivatives Clearing organization (``DCO'') for all CFE
products. CFE plans to begin utilizing Cboe Clear U.S., LLC (``CCUS'')
as the DCO for certain CFE products. CCUS is a DCO that is an affiliate
of CFE.
The initial products that CFE plans to utilize CCUS to clear are
financially-settled bitcoin (``FBT'') and ether (``FET'') futures. FBT
and FET futures are not currently listed for trading on CFE. CFE plans
to list these two products for trading in the near future. CFE
currently plans to continue to utilize OCC to clear the CFE products
that are currently listed for trading on CFE.
In the future, CFE may utilize either OCC or CCUS as the DCO for a
CFE product, provided that OCC or CCUS is otherwise authorized to act
as the DCO for the applicable product. In particular, CFE would not
utilize CCUS to clear security futures unless CCUS satisfied the
applicable requirements in order to do so. Consistent with proposed
amendments to CFE Rules 1603, 1803, and 1903 that are described below,
CFE will continue to require OCC clearing of security futures and any
change to the clearing entity used for security futures would be done
after a proposed change.
The proposed rule change includes rule updates to accommodate the
use by CFE of more than one DCO as a Clearing House for CFE products.
The scope of this filing is limited solely to the application of the
rule amendments to security futures that may be traded on CFE. Although
no security futures are currently listed for trading on CFE, CFE may
list security futures for trading in the future.
CFE is making the rule amendments included in this proposed rule
change in conjunction with other rule amendments being made by CFE in
connection with its planned use of more than one Clearing House which
are not required to be submitted to the Commission pursuant to Section
19(b)(7) of the Act \3\ and thus are not included as part of this rule
change. Along these lines, if an amendment to a rule is included as
part of this rule change and a different amendment to that rule is not
required to be included as part of this rule change, this rule change
discusses the former amendment to that rule but does not discuss the
amendment to that rule that is not required to be included as part of
this rule change.
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\3\ 15 U.S.C. 78s(b)(7).
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CFE is submitting the rule amendments included as part of this
proposed rule change to the Commission under Section 19(b)(7) of the
Act \4\ because they relate to reporting requirements, recordkeeping
requirements, or fraud and would apply with respect to any security
futures that may be traded on CFE or because they relate to the
clearance and settlement of security futures that may be listed for
trading on CFE. For reference, the rule amendments included as part of
this proposed rule change that relate to reporting requirements,
recordkeeping requirements, and fraud are to apply to all products
traded on CFE, including both non-security futures and any security
futures that may be listed for trading on CFE.
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\4\ 15 U.S.C. 78s(b)(7).
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The text of the proposed rule change is attached as Exhibit 4 to
the filing but is not attached to the publication of this notice.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, CFE included statements
concerning the
[[Page 15181]]
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.
CFE 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, Proposed Rule Change
1. Purpose
The proposed rule change includes the following proposed rule
amendments:
Paragraphs (b) and (e) of CFE Rule 403 (Order Entry and Maintenance
of Front-End Audit Trail Information) currently require that single
orders and bulk messages for quote updates submitted to CFE's trading
system (``CFE System'') must contain specified information. One item of
information that is required to be included with each single order
(other than a cancel order or cancel replace/modify order) and with
each bulk message is the Clearing Corporation origin code. Paragraphs
(b) and (e) of Rule 403 also currently provide that the Clearing
Corporation origin codes are C for Customer and F for Firm. The
proposed rule change is replacing these references to ``Clearing
Corporation origin code'' in Rule 403(b) and Rule 403(e) with
references to ``Clearing House origin code''. The term ``Clearing
House'' will accommodate either OCC or CCUS.\5\
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\5\ The term ``Clearing House'' under CFE rules is proposed to
mean The Options Clearing Corporation, a Delaware corporation
(including its successors); Cboe Clear U.S., LLC, a Delaware limited
liability company (including its successors); or such other
derivatives clearing organization as the Exchange may designate in
the future to provide clearing services with respect to any or all
of its Contracts. CFE rules may also refer to The Options Clearing
Corporation as ``OCC'' and Cboe Clear U.S., LLC as ``CCUS''.
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CFE plans to continue to require that the submission of the
Clearing House origin code be in the format utilized by OCC (which is C
for Customer and F for Firm), including for CFE products that are
cleared by CCUS. CFE plans to convert these origin codes to the
comparable CCUS origin codes (which are 1 for Customer and 2 for House)
when CFE submits transactions to CCUS for clearing. Accordingly, there
will be no change to what users are currently required to submit to CFE
for the Clearing House origin code and CFE will make appropriate
adjustments on the back end when submitting Clearing House origin code
information to CCUS so that CCUS receives Clearing House origin codes
in the CCUS format.
CFE Rule 410A (Reporting Open Interest Information to the Clearing
Corporation) currently provides that each Clearing Member shall report
to the Clearing Corporation, on each business day, gross position
adjustment information as necessary to identify the actual open
interest in each Clearing Member account at the Clearing Corporation
based on the trading activity for that business day, to the extent
required by and in accordance with the rules of the Clearing
Corporation. The proposed rule change proposes to amend the title of
Rule 410A by replacing the reference to ``the Clearing Corporation'' in
the rule title with reference to ``a Clearing House'' in order to have
the rule title apply with respect to both OCC and CCUS. Similarly, CFE
is amending the above provision of Rule 410A by replacing references to
``the Clearing Corporation'' with references to ``a Clearing House'' or
to ``that Clearing House'' in order to have this provision apply with
respect to both OCC and CCUS without changing the substance of the
provision.
Rule 410A also currently provides that gross position adjustment
information is not required to be reported to the Clearing Corporation
pursuant to this Rule 410A for Market Maker accounts at the Clearing
Corporation or for transactions with respect to which a CFE Trading
Privilege Holder (``TPH'') has designated as part of the applicable
order submission to the Exchange whether the transaction is opening or
closing. The proposed rule change proposes to amend this provision by
replacing references to ``the Clearing Corporation'' with references to
``OCC'' since this provision only applies with respect to OCC and not
with respect to CCUS. This provision only applies in relation to OCC
and not CCUS given differences between OCC and CCUS functionality with
respect to the processing of position adjustment information.
Similarly, the proposed rule change also proposes to amend this
provision to make clear that it applies solely with respect to market
maker accounts at OCC and transactions for clearance by OCC with
respect to which a TPH has designated as part of the applicable Order
submission to the Exchange whether the transaction is opening or
closing. These revisions do not reflect any change to current
requirements in relation to CFE products cleared by OCC.
CFE is making two corollary revisions to both Rule 414 (Exchange of
Contract for Related Position) and Rule 415 (Block Trades) in relation
to the reporting to the Exchange of exchange of contract for related
position (``ECRP'') transactions \6\ and block trades.\7\
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\6\ An ECRP transaction consists of a transaction in a contract
listed on CFE and a transaction in a related position that is
negotiated off of CFE's trading facility and is then reported to CFE
which meets the parameters for an ECRP transaction under CFE's
rules. The related position must have a high degree of price
correlation to the underlying of the Contract transaction so that
the Contract transaction would serve as an appropriate hedge for the
related position. In every ECRP transaction, one party is the buyer
of (or the holder of the long market exposure associated with) the
related position and the seller of the corresponding contract and
the other party is the seller of (or the holder of the short market
exposure associated with) the related position and the buyer of the
corresponding contract.
\7\ A block trade is a large transaction in a contract listed on
CFE that is negotiated off of CFE's trading facility and is then
reported to CFE which meets the parameters for a block trade under
CFE's rules.
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First, CFE is amending Rule 414(i) and Rule 415(f) to provide that
in order for an Authorized Reporter to report block trades or ECRP
transactions to CFE on behalf of a TPH in a CFE contract, a Clearing
Member that authorizes the Authorized Reporter to report block trades
or ECRP transactions on behalf of the TPH must be a Clearing Member of
the Clearing House for that CFE contract. Rule 414(i) and Rule 415(f)
currently require each TPH that desires to execute ECRP transactions
and block trades in CFE products to designate at least one Authorized
Reporter that is pre-authorized by a CFE Clearing Member to report ECRP
transactions and block trades to the Exchange on behalf of the TPH. The
proposed amendments to those provisions make clear that if a TPH
desires to execute ECRP transactions and block trades in a CFE contract
cleared by OCC, the TPH must utilize an Authorized Reporter that is
authorized by an OCC Clearing Member of CFE to report those
transactions to CFE on behalf of the TPH. Similarly, the proposed
amendments to those provisions make clear that if a TPH desires to
execute ECRP transactions and block trades in a CFE contract cleared by
CCUS, the TPH must utilize an Authorized Reporter that is authorized by
a CCUS Clearing Member of CFE to report those transactions to CFE on
behalf of the TPH.
Second, CFE is proposing to align Rule 414(k) and Rule 415(h) with
Rule 403 in relation to the current requirements to provide the
Clearing Corporation origin code with block trade and ECRP transaction
submissions. As with the proposed amendments to Rule 403(b) and Rule
403(e), CFE is proposing to amend Rule 414(k) and Rule 415(h) to
replace the
[[Page 15182]]
references to ``Clearing Corporation origin code'' with references to
``Clearing House origin code''. Additionally, CFE is proposing to add
in Rule 414(k) and Rule 415(h) a parenthetical to describe this origin
code as C for Customer or F for Firm. The proposed addition of this
parenthetical will conform references to this origin code in Rule
414(k) and Rule 415(h) with the references to this origin code in Rule
403(b) and Rule 403(e) which also include this parenthetical.
CFE Rule 420 (Transfers of Positions) includes a provision in Rule
420(c) which provides that each Clearing Member that is a party to a
transfer of positions must make and retain records stating the nature
of the transaction; the date of the transfer; the transfer prices and
the date of those prices (including the ``as of date,'' if applicable);
the name of the counter-party Clearing Member; and any other
information required by the Clearing Corporation. The proposed rule
change proposes to replace the reference to the ``Clearing
Corporation'' in Rule 420(c) with a reference to the ``applicable
Clearing House'' so that this reference encompasses both OCC and CCUS
without changing the substance of Rule 420(c).
Paragraph (d) of CFE Rule 503A (Reporting by Futures Commission
Merchants and Introducing Brokers) provides that each TPH that is a
Futures Commission Merchant and (i) is not Clearing Member or (ii) is a
Clearing Member that utilizes another Clearing Member for purposes of
clearing Exchange contracts shall, in a form and manner prescribed by
the Exchange, provide a report to the Exchange on a daily basis which
sets forth the positions, if any, in Exchange contracts of the TPH's
customers held by any Clearing Member in the customer range at the
Clearing Corporation. The proposed rule change proposes to replace the
reference to ``the Clearing Corporation'' in Rule 503A(d) with a
reference to ``a Clearing House'' so that this reference encompasses
both OCC and CCUS without changing the substance of Rule 503A(d).
CFE proposes to amend Rule 601 (Fraudulent Acts) in the same manner
as CFE proposes to amend Rule 503A. The first sentence of Rule 601
provides that no TPH, Related Party, or Market Participant shall engage
or attempt to engage in any fraudulent act or engage or attempt to
engage in any scheme to defraud, deceive or trick, in connection with
or related to any trade on or other activity related to the Exchange or
the Clearing Corporation. The proposed rule change proposes to replace
the reference to ``the Clearing Corporation'' in the first sentence of
Rule 601 with a reference to ``a Clearing House'' so that this
reference encompasses both OCC and CCUS without changing the substance
of Rule 601.
The CFE Rulebook currently contains three product rule chapters
relating to security futures. These product rule chapters include
Chapter 16 relating to Individual Stock Based and Exchange-Traded Fund
Based Volatility Index (``Volatility Index'') futures, Chapter 18
relating to Single Stock Futures, and Chapter 19 relating to Narrow-
Based Stock Index Futures. CFE does not currently list any security
futures for trading under these product rule chapters but may do so in
the future. Accordingly, CFE is proposing to amend these product rule
chapters to specify the Clearing House for transactions in these
products so that the applicable Clearing House is identified in CFE's
rules in the event that CFE were to list any security futures for
trading under these product rule chapters.
The specific proposed amendments to Chapter 16, Chapter 18, and
Chapter 19 include the following proposed revisions:
Chapter 16 includes CFE Rule 1603 entitled ``Settlement''. CFE is
proposing to provide in Rule 1603 that the Clearing House for
transactions in Volatility Index futures is OCC and to amend the title
of Rule 1603 to be ``Clearance and Settlement'' since the rule is now
proposed to address clearance of Volatility Index futures by OCC. Rule
1603 also currently includes a paragraph which provides that Clearing
Members holding open positions in a Volatility Index futures contract
at the termination of trading in that contract shall make payment to or
receive payment from the Clearing Corporation. The proposed rule change
proposes to replace the reference to the Clearing Corporation in this
paragraph with a reference to OCC since OCC would be the Clearing House
for a Volatility Index futures contract. Additionally, CFE is proposing
to replace a reference to ``The Options Clearing Corporation'' in the
last paragraph of Rule 1603 with a reference to ``OCC'', which is the
defined term for The Options Clearing Corporation.
Chapter 18 includes CFE Rule 1802 (Contract Specifications). Rule
1802(i) (Contract Adjustments) currently provides that adjustments to
Single Stock Futures related to actions or transactions by or affecting
the issuer of the underlying securities shall be made under the
circumstances and in the manner from time to time prescribed by the
Clearing Corporation. Rule 1802(k) (Final Settlement Price) provides
that the final settlement price of a Single Stock Future shall be
calculated in accordance with Rule 1802(j), unless the final settlement
price is fixed in accordance with the Rules and By-Laws of the Clearing
Corporation. CFE is proposing to replace the references to ``the
Clearing Corporation'' in both Rule 1802(i) and Rule 1802(k) with
references to ``OCC'' since OCC would be the Clearing House for Single
Stock Futures.
Chapter 18 also includes CFE Rule 1803 entitled ``Delivery''. CFE
is proposing to provide in Rule 1803 that the Clearing House for
transactions in Single Stock Futures is OCC and to amend the title of
Rule 1803 to be ``Clearance and Delivery'' since the rule is now
proposed to address clearance of Single Stock Futures by OCC. Rule 1803
also currently includes a paragraph which states:
Delivery of the Underlying Securities upon termination of a
Single Stock Future, and payment of the price in respect thereof,
shall be made in accordance with the Rules of the Clearing
Corporation. As promptly as possible after the receipt of a notice
of delivery from the Clearing Corporation with respect to a Single
Stock Future held by a Trading Privilege Holder or Authorized
Trader, such Trading Privilege Holder or Authorized Trader shall
require the Customer to deposit the Underlying Security (in the case
of a short position) or pay the aggregate price in respect thereof,
in full and in cash (in the case of a long position), or in either
case, if the transaction is effected in a margin account, to make
the required margin deposit in accordance with the applicable
regulations of the Federal Reserve Board.
The proposed rule change proposes to replace the reference to ``the
Clearing Corporation'' in the above paragraph with a reference to
``OCC'' since OCC would be the Clearing House for a Single Stock
Future.
Chapter 19 includes CFE Rule 1902 (Contract Specifications). Rule
1902(h) (Contract Adjustments) currently provides that adjustments to
Narrow-Based Stock Index Futures related to actions or transactions by
or affecting the issuer of the underlying securities shall be made
under the circumstances and in the manner from time to time prescribed
by the Clearing Corporation. CFE is proposing to replace the reference
to ``the Clearing Corporation'' in Rule 1902(k) with a reference to
``OCC'' since OCC would be the Clearing House for Narrow-Based Stock
Index Futures.
Chapter 19 also includes CFE Rule 1903 entitled ``Delivery''. CFE
is proposing to make similar amendments to Rule 1903 as CFE is
proposing to make to Rule 1803. In particular, CFE is proposing to
provide in Rule 1903 that the Clearing House for transactions in
[[Page 15183]]
Narrow-Based Stock Futures is OCC and to amend the title of Rule 1903
to be ``Clearance and Delivery'' since the rule is now proposed to
address clearance of Narrow-Based Stock Futures by OCC. Rule 1903 also
currently includes a paragraph which states:
Delivery of the Underlying Securities upon termination of a
Narrow-Based Stock Index Future, and payment of the price in respect
thereof, shall be made in accordance with the Rules of the Clearing
Corporation. As promptly as possible after the receipt of a notice
of delivery from the Clearing Corporation with respect to a Narrow-
Based Stock Index Future held by a Trading Privilege Holder or
Authorized Trader, such Trading Privilege Holder or Authorized
Trader shall require such Customer to deposit the Underlying
Securities (in the case of a short position) or pay the aggregate
price in respect thereof, in full and in cash (in the case of a long
position), or in either case, if the transaction is effected in a
margin account, to make the required margin deposit in accordance
with the applicable regulation of the Federal Reserve Board.
The proposed rule change proposes to replace the reference to ``the
Clearing Corporation'' in the above paragraph with a reference to
``OCC'' since OCC would be the Clearing House for a Narrow-Based Stock
Index Future.
Paragraph C of Policy and Procedure (``P&P'') III (Resolution of
Error Trades) of the Policies and Procedures Section of the CFE
Rulebook addresses voluntary adjustment of a trade price when an error
trade outside the ``no bust range'' is busted. The first sentence of
Item 3 of Paragraph C of P&P III provides that the parties to any
adjusted trade under Paragraph C must report that trade to the Clearing
Corporation not later than by the close of business on the business day
immediately succeeding the day on which the error trade occurred. CFE
is proposing to amend this sentence to replace the reference to the
``Clearing Corporation'' with a reference to the ``applicable Clearing
House'' so that it may apply in relation to either OCC or CCUS without
changing the substance of the sentence.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\8\ in general, and furthers the
objectives of Sections 6(b)(1) \9\ and 6(b)(5) \10\ in particular, in
that it is designed:
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\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(1).
\10\ 15 U.S.C. 78f(b)(5).
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<bullet> to contribute to the ability of the Exchange to enforce
compliance by its TPHs and persons associated with its TPHs with the
provisions of the rules of the Exchange,
<bullet> to prevent fraudulent and manipulative acts and practices,
<bullet> to promote just and equitable principles of trade,
<bullet> to foster cooperation and coordination with persons
engaged in regulating, clearing, settling, processing information with
respect to, and facilitating transactions in securities,
<bullet> to remove impediments to and perfect the mechanism of a
free and open market and a national market system,
<bullet> and in general, to protect investors and the public
interest.
The Exchange believes that the proposed rule change contributes to
the Exchange's ability to enforce compliance by its TPHs and persons
associated with its TPHs with the provisions of the rules of the
Exchange and to carry out the Exchange's responsibilities as a self-
regulatory organization in that the proposed rule change facilitates
the collection of information that the Exchange may utilize in
monitoring for compliance with Exchange rules.
The Exchange believes that the proposed rule change contributes to
the prevention of fraudulent and manipulative acts and practices and to
the promotion of just and equitable principles of trade because the
proposed rule change proposes to amend Rule 601, which prohibits
fraudulent acts, to provide that Rule 601 applies in connection with or
related to any activity related to a Clearing House and thus amends
Rule 601 to apply with respect to any activity related to either OCC
and CCUS.
The Exchange believes that the proposed rule change foster
cooperation and coordination with persons engaged in regulating,
clearing, settling, processing information with respect to, and
facilitating transactions in securities in that the proposed rule
change provides for the provision of information to the applicable
Clearing House, including either OCC or CCUS.
Finally, the Exchange believes that the proposed rule change
removes impediments to and perfect the mechanism of a free and open
market and a national market system, and in general, protects investors
and the public interest by facilitating the use by CFE or more than one
Clearing House, which contributes to enhancing the overall market and
clearance and settlement process for CFE products.
B. Self-Regulatory Organization's Statement on Burden on Competition
CFE does not believe that the proposed rule changes will impose any
burden on competition not necessary or appropriate in furtherance of
the purposes of the Act. Specifically, the Exchange believes that the
proposed rule change will not burden intra-market competition because
the proposed rule amendments will apply equally to all CFE TPHs,
Clearing Members, and Market Participants. The Exchange also believes
that the proposed rule change will not burden inter-market competition
because the proposed rule change contributes to the ability of the
Exchange and its Clearing Houses to enforce compliance with their rules
and to carry out their responsibilities as a registered entities by
facilitating their collection of information that they may utilize in
monitoring for compliance with their rules. Additionally, the Exchange
believes that the proposed rule change fosters additional competition
in relation to clearing services by facilitating the use by the
Exchange of more than one Clearing House.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The proposed rule change will become operative on April 7, 2025. At
any time within 60 days of the date of effectiveness of the proposed
rule change, the Commission, after consultation with the CFTC, may
summarily abrogate the proposed rule change and require that the
proposed rule change be refiled in accordance with the provisions of
Section 19(b)(1) of the Act.\11\
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\11\ 15 U.S.C. 78s(b)(1).
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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="http://www.sec.gov/rules/sro.shtml">http://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#1c6e697079317f7371717972686f5c6f797f327b736a"><span class="__cf_email__" data-cfemail="83f1f6efe6aee0eceeeee6edf7f0c3f0e6e0ade4ecf5">[email protected]</span></a>. Please include
File Number SR-CFE-2025-002 on the subject line.
[[Page 15184]]
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-CFE-2025-002. 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="http://www.sec.gov/rules/sro.shtml">http://www.sec.gov/rules/sro.shtml</a>).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549, on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. 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-CFE-2025-002, and should be submitted on
or before April 29, 2025.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(73).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-05964 Filed 4-7-25; 8:45 am]
BILLING CODE 8011-01-P
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