Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change, as Modified by Amendment No. 1, To Adopt Rule 21.22 (Complex Automated Improvement Mechanism), 31646 [2019-14057]

Download as PDF khammond on DSKBBV9HB2PROD with NOTICES 31646 Federal Register / Vol. 84, No. 127 / Tuesday, July 2, 2019 / Notices (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the previously approved collection of information provided for in Rule 31 (17 CFR 240.31) and Form R31 (17 CFR 249.11) under the Securities Exchange Act of 1934 (15 U.S.C. 78ee) (‘‘Exchange Act’’). Section 31 of the Exchange Act requires the Commission to collect fees and assessments from national securities exchanges and national securities associations (collectively, ‘‘self-regulatory organizations’’ or ‘‘SROs’’) based on the volume of their securities transactions. To collect the proper amounts, the Commission adopted Rule 31 and Form R31 under the Exchange Act whereby each SRO must report to the Commission the volume of its securities transactions and the Commission, based on those data, calculates the amount of fees and assessments that each SRO owes pursuant to Section 31. Rule 31 and Form R31 require each SRO to provide these data on a monthly basis. Currently, there are 26 respondents subject to the collection of information requirements of Rule 31: 22 national securities exchanges, one security futures exchange, one national securities association, and two registered clearing agencies that are required to provide certain data in their possession needed by the SROs to complete Form R31, although these two clearing agencies are not themselves required to complete and submit Form R31. The Commission estimates that the total burden for all 26 respondents is 390 hours per year. Based on previous and current experience, the Commission estimates that three additional national securities exchanges will become registered and subject to the reporting requirements of Rule 31 over the course of the authorization period and collectively incur a burden of 18 hours per year. Thus, the Commission estimates the total burden for the existing and expected new respondents to be 408 hours per year. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. The public may view background documentation for this information collection at the following website: www.reginfo.gov. Comments should be VerDate Sep<11>2014 17:00 Jul 01, 2019 Jkt 247001 directed to: (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503; or by sending an email to: Abate, Lindsay M. EOP/OMB Lindsay.M.Abate@omb.eop.gov; and (ii) Charles Riddle, Acting Director/Chief Information Officer, Securities and Exchange Commission, c/o Candace Kenner, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: June 27, 2019. Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2019–14111 Filed 7–1–19; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–86202; File No. SR– CboeEDGX–2019–028] Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change, as Modified by Amendment No. 1, To Adopt Rule 21.22 (Complex Automated Improvement Mechanism) June 26, 2019. On April 26, 2019, Cboe EDGX Exchange, Inc. (the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to adopt Rule 21.22, Complex Automated Improvement Mechanism (‘‘C–AIM’’ or ‘‘C–AIM Auction’’), to permit the use of the Exchange’s Automated Improvement Mechanism auction for complex orders. The proposed rule change was published for comment in the Federal Register on May 16, 2019.3 On June 14, 2019, the Exchange filed Amendment No. 1 to the proposed rule change.4 The Commission U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 85831 (May 10, 2019), 84 FR 22178. 4 Amendment No. 1 revises the proposal to (1) cap the prices of C–AIM responses based on the Synthetic Best Bid or Offer and the prices of orders resting on the top of the Complex Order Book at the conclusion of the C–AIM Auction, rather than at the PO 00000 1 15 2 17 Frm 00086 Fmt 4703 Sfmt 4703 has received no comments regarding the proposal. Section 19(b)(2) of the Act 5 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day for this filing is June 30, 2019. The Commission is extending the 45day time period for Commission action on the proposed rule change, as modified by Amendment No. 1. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 1. Accordingly, pursuant to Section 19(b)(2) of the Act,6 the Commission designates August 14, 2019, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change, as modified by Amendment No. 1 (File No. SR–CboeEDGX–2019–028). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Jill M. Peterson, Assistant Secretary. [FR Doc. 2019–14057 Filed 7–1–19; 8:45 am] BILLING CODE 8011–01–P beginning of the C–AIM Auction; (2) incorporate the new defined terms ‘‘C–AIM Auction period’’ and ‘‘final auction price’’ into the proposed rule text; (3) provide additional justification for the proposal to allow an Options Market Maker registered in the applicable series on the Exchange to be solicited to participate in a C–AIM Auction for a complex order that includes those series; (4) provide additional justification for the proposal to allow Agency Orders to execute only against complex interest at the conclusion of a C–AIM Auction; (5) make non-substantive simplifying, clarifying, and correcting changes to the proposed rule text; and (6) make non-substantive clarifications and corrections to the Form 19b–4 discussion of the proposed rule change. Amendment No. 1 is available at https:// www.sec.gov/comments/sr-cboeedgx-2019-028/ srcboeedgx2019028-5679914-185869.pdf. 5 15 U.S.C. 78s(b)(2). 6 Id. 7 17 CFR 200.30–3(a)(31). E:\FR\FM\02JYN1.SGM 02JYN1

Agencies

[Federal Register Volume 84, Number 127 (Tuesday, July 2, 2019)]
[Notices]
[Page 31646]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-14057]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86202; File No. SR-CboeEDGX-2019-028]


Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice 
of Designation of Longer Period for Commission Action on Proposed Rule 
Change, as Modified by Amendment No. 1, To Adopt Rule 21.22 (Complex 
Automated Improvement Mechanism)

June 26, 2019.
    On April 26, 2019, Cboe EDGX Exchange, Inc. (the ``Exchange'') 
filed with the Securities and Exchange Commission (``Commission''), 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to 
adopt Rule 21.22, Complex Automated Improvement Mechanism (``C-AIM'' or 
``C-AIM Auction''), to permit the use of the Exchange's Automated 
Improvement Mechanism auction for complex orders. The proposed rule 
change was published for comment in the Federal Register on May 16, 
2019.\3\ On June 14, 2019, the Exchange filed Amendment No. 1 to the 
proposed rule change.\4\ The Commission has received no comments 
regarding the proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 85831 (May 10, 
2019), 84 FR 22178.
    \4\ Amendment No. 1 revises the proposal to (1) cap the prices 
of C-AIM responses based on the Synthetic Best Bid or Offer and the 
prices of orders resting on the top of the Complex Order Book at the 
conclusion of the C-AIM Auction, rather than at the beginning of the 
C-AIM Auction; (2) incorporate the new defined terms ``C-AIM Auction 
period'' and ``final auction price'' into the proposed rule text; 
(3) provide additional justification for the proposal to allow an 
Options Market Maker registered in the applicable series on the 
Exchange to be solicited to participate in a C-AIM Auction for a 
complex order that includes those series; (4) provide additional 
justification for the proposal to allow Agency Orders to execute 
only against complex interest at the conclusion of a C-AIM Auction; 
(5) make non-substantive simplifying, clarifying, and correcting 
changes to the proposed rule text; and (6) make non-substantive 
clarifications and corrections to the Form 19b-4 discussion of the 
proposed rule change. Amendment No. 1 is available at https://www.sec.gov/comments/sr-cboeedgx-2019-028/srcboeedgx2019028-5679914-185869.pdf.
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    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day for this filing is June 30, 2019.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change, as modified by Amendment No. 1. The 
Commission finds that it is appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider the proposed rule change, as modified by 
Amendment No. 1.
    Accordingly, pursuant to Section 19(b)(2) of the Act,\6\ the 
Commission designates August 14, 2019, as the date by which the 
Commission shall either approve or disapprove, or institute proceedings 
to determine whether to disapprove, the proposed rule change, as 
modified by Amendment No. 1 (File No. SR-CboeEDGX-2019-028).
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    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-14057 Filed 7-1-19; 8:45 am]
 BILLING CODE 8011-01-P
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