Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Introduce a New Data Product on Its Equity Options Platform (“EDGX Options”) To Be Known as Open-Close Data, 46767-46769 [2019-19109]
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Federal Register / Vol. 84, No. 172 / Thursday, September 5, 2019 / Notices
filing. However, Rule 19b–4(f)(6)(iii) 14
permits the Commission to designate a
shorter time if such action is consistent
with the protection of investors and the
public interest. The Exchange has asked
the Commission to waive the 30-day
operative delay so that the Exchange
may implement the proposed rule
change on September 1, 2019, the
anticipated date upon which the
Exchange expects to offer Open-Close
Data. The Exchange believes waiver of
the operative delay is consistent with
the protection of investors and the
public interest because the proposed
rule change presents no new or novel
issues, as other exchanges currently
offer a similar data product.15 For this
reason, the Commission believes that
waiver of the 30-day operative delay is
consistent with the protection of
investors and the public interest.
Therefore, the Commission hereby
waives the operative delay and
designates the proposal as operative
upon filing.16
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 shall institute proceedings
to determine whether the proposed rule
change should be approved or
disapproved.
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
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
14 17
CFR 240.19b–4(f)(6)(iii).
supra note 6.
16 For purposes only of waiving the 30-day
operative delay, the Commission also has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
khammond on DSKBBV9HB2PROD with NOTICES
15 See
VerDate Sep<11>2014
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Jkt 247001
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
CboeBZX–2019–079 on the subject line.
SECURITIES AND EXCHANGE
COMMISSION
Paper Comments
[Release No. 34–86806; File No. SR–
CboeEDGX–2019–054]
• 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–CboeBZX–2019–079. 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 (https://www.sec.gov/
rules/sro.shtml). 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. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–CboeBZX–2019–079 and
should be submitted on or before
September 26, 2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.17
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–19107 Filed 9–4–19; 8:45 am]
BILLING CODE 8011–01–P
17 17
PO 00000
Frm 00062
Fmt 4703
Self-Regulatory Organizations; Cboe
EDGX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Introduce a
New Data Product on Its Equity
Options Platform (‘‘EDGX Options’’) To
Be Known as Open-Close Data
August 29, 2019.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
21, 2019, Cboe EDGX Exchange, Inc.
(the ‘‘Exchange’’ or ‘‘EDGX’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by the Exchange. The
Exchange filed the proposal as a ‘‘noncontroversial’’ 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) is filing with
the Securities and Exchange
Commission (‘‘Commission’’) a
proposed rule change to introduce a
new data product on its equity options
platform (‘‘EDGX Options’’) to be known
as Open-Close Data. 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 (https://markets.cboe.com/us/
options/regulation/rule_filings/edgx/),
at the Exchange’s Office of the
Secretary, and at the Commission’s
Public Reference Room.
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).
2 17
CFR 200.30–3(a)(12).
Sfmt 4703
46767
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Federal Register / Vol. 84, No. 172 / Thursday, September 5, 2019 / Notices
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
khammond on DSKBBV9HB2PROD with NOTICES
1. Purpose
The Exchange proposes to introduce a
new data product on EDGX Options to
be known as Open-Close Data, which
will be available for purchase to EDGX
Options Members and Non-Members.5
Cboe LiveVol, LLC (‘‘LiveVol’’), a
wholly owned subsidiary of the
Exchange’s parent company, Cboe
Global Markets, Inc., will make the
Open-Close Data available for purchase
to Members and Non-Members on the
LiveVol DataShop website
(datashop.cboe.com). The Exchange also
proposes to amend Exchange Rule
21.15(b) to add a description of the
Open-Close Data product.
A description of each market data
product offered by the Exchange is
described in Exchange Rule 21.15(b).
The Exchange proposes to amend Rule
21.15(b) to introduce and add a
description of the Open-Close Data
product under proposed new
subparagraph (6). The Exchange
proposes to describe the Open-Close
Data as ‘‘a data product that summarizes
volume (contracts traded on EDGX
Options) by origin (customer and firm
orders), original order size and the
opening or closing position of the
order.’’ The volume data is also
summarized by day and series (symbol,
expiration date, strike price, call or put).
The Open-Close Data would be available
for purchase to both EDGX Members
and Non-Members on a subscription
and ad-hoc basis. The Exchange notes
that its affiliate, Cboe Exchange, Inc.
(‘‘Cboe Options’’), as well as other
exchanges, offer a similar data product.6
5 The Exchange intends to submit a rule filing to
establish fees for Open-Close Data.
6 See Securities Exchange Act Release No. 55062
(January 8, 2007), 72 FR 2048 (January 17, 2007)
(approving SR–CBOE–2006–88); See also Securities
VerDate Sep<11>2014
16:53 Sep 04, 2019
Jkt 247001
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,7 in general, and
furthers the objectives of Section 6(b)(5)
of the Act,8 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.
In adopting Regulation NMS, the
Commission granted self-regulatory
organizations (‘‘SROs’’) and brokerdealers 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 believes that
the proposed Open-Close Data would
further broaden the availability of U.S.
option market data to investors
consistent with the principles of
Regulation NMS. The proposal also
promotes increased transparency
through the dissemination of OpenClose Data. The proposed rule change
would benefit investors by providing
access to the Open-Close Data, which
may promote better informed trading.
Moreover, the Exchange’s affiliate Cboe
Options, along with other exchanges,
also offer a similar data product.9
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will result in
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. Rather, the
Exchange believes that the proposal will
promote competition by permitting the
Exchange to offer a data product similar
to those offered by other competitor
options exchanges.10 The Exchange is
proposing to introduce Open-Close Data
for EDGX Options in order to keep pace
with changes in the industry and
evolving customer needs, and believes
this proposed rule change would
contribute to robust competition among
national securities exchanges. As noted,
at least three other U.S. options
exchanges offer a market data product
that is substantially similar to the OpenClose Data. As a result, the Exchange
believes this proposed rule change
permits fair competition among national
securities exchanges. Therefore, the
Exchange does not believe the proposed
rule change will result in any burden on
competition that is not necessary or
appropriate in furtherance of the
purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has neither solicited
nor received written comments on the
proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 11 and Rule 19b–
4(f)(6) thereunder.12
A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
Act 13 normally does not become
operative for 30 days after the date of its
filing. However, Rule 19b–4(f)(6)(iii) 14
permits the Commission to designate a
shorter time if such action is consistent
with the protection of investors and the
public interest. The Exchange has asked
the Commission to waive the 30-day
operative delay so that the Exchange
may implement the proposed rule
change on September 1, 2019, the
anticipated date upon which the
Exchange expects to offer Open-Close
Data. The Exchange believes waiver of
the operative delay is consistent with
the protection of investors and the
public interest because the proposed
11 15
Exchange Act Release No. 56254 (August 15, 2007),
72 FR 47104 (August 22, 2007) (SR–ISE–2007–70).
7 15 U.S.C. 78f.
8 15 U.S.C. 78f(b)(5).
9 See Securities Exchange Act Release No. 55062
(January 8, 2007), 72 FR 2048 (January 17, 2007)
(approving SR–CBOE–2006–088); See also
Securities Exchange Act Release No. 56254 (August
15, 2007), 72 FR 47104 (August 22, 2007) (SR–ISE–
2007–70).
10 Id.
PO 00000
Frm 00063
Fmt 4703
Sfmt 4703
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
give the Commission written notice of its intent to
file the proposed rule change, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Exchange
has satisfied this requirement.
13 17 CFR 240.19b–4(f)(6).
14 17 CFR 240.19b–4(f)(6)(iii).
12 17
E:\FR\FM\05SEN1.SGM
05SEN1
Federal Register / Vol. 84, No. 172 / Thursday, September 5, 2019 / Notices
rule change presents no new or novel
issues, as other exchanges currently
offer a similar data product.15 For this
reason, the Commission believes that
waiver of the 30-day operative delay is
consistent with the protection of
investors and the public interest.
Therefore, the Commission hereby
waives the operative delay and
designates the proposal as operative
upon filing.16
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 shall institute proceedings
to determine whether the proposed rule
change should be approved or
disapproved.
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:
khammond on DSKBBV9HB2PROD with NOTICES
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
CboeEDGX–2019–054 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–CboeEDGX–2019–054. 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 (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
15 See
supra note 6.
purposes only of waiving the 30-day
operative delay, the Commission also has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
16 For
VerDate Sep<11>2014
16:53 Sep 04, 2019
Jkt 247001
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. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–CboeEDGX–2019–054 and
should be submitted on or before
September 26, 2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.17
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–19109 Filed 9–4–19; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
Privacy Act of 1974; System of
Records
U.S. Small Business
Administration.
ACTION: Notice of a New System of
Records.
AGENCY:
The U.S. Small Business
Administration (SBA) proposes to add a
new system of records entitled Small
Business Investment Company
Information System (SBA # 40) to its
inventory of records systems subject to
the Privacy Act of 1974, as amended.
Publication of this notice complies with
the Privacy Act and the Office of
Management and Budget (OMB)
Circular A–108 requirement for agencies
to publish a notice in the Federal
Register whenever the agency
establishes a new system of records. The
SBA is in the process of modernizing its
technology supporting the Small
Business Investment Company (SBIC)
program to further enhance the SBA’s
regulatory oversight and risk
management of the SBIC program using
modern private equity and alternative
SUMMARY:
17 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00064
Fmt 4703
Sfmt 4703
46769
investment analytics and tools. The
technology includes a Customer
Relationship Management (CRM) tool,
an investment and risk management
tool, an information portal, and a data
warehouse with associated Application
Programming Interfaces (APIs). Some
records may be maintained
electronically and in paper format for
desktop access or if required for legal
purposes.
This action will be effective
without further notice on September 1,
2019 unless comments are received that
would result in a contrary
determination.
DATES:
Submit written comments
to Marja Maddrie, Business Operations
Officer, Office of Investment and
Innovation, U.S. Small Business
Administration, 409 3rd Street SW,
Suite 6300, Washington, DC, 20416.
ADDRESSES:
FOR FURTHER INFORMATION CONTACT:
Marja Maddrie, Business Operations
Officer, Office of Investment and
Innovation, U.S. Small Business
Administration, 409 3rd Street SW,
Suite 6300, Washington, DC, 20416,
202–205–6980.
The
Privacy Act of 1974 (5 U.S.C. 552a), as
amended, embodies fair information
practice principles in a statutory
framework governing the means by
which Federal agencies collect,
maintain, use, and disseminate
individuals’ personal information. The
Privacy Act applies to records about
individuals that are maintained in a
‘‘system of records.’’ A system of
records is a group of any records under
the control of a Federal agency from
which information is retrieved by the
name of an individual or by a number,
symbol or other identifier assigned to
the individual. The Privacy Act requires
each Federal agency to publish in the
Federal Register a System of Records
Notice (SORN) identifying and
describing each system of records the
agency maintains, the purposes for
which the Agency uses the Personally
Identifiable Information (PII) in the
system, the routine uses for which the
Agency discloses such information
outside the Agency, and how
individuals can exercise their rights
related to their PII information.
SUPPLEMENTARY INFORMATION:
SYSTEM NAME AND NUMBER:
Small Business Investment Company
Information System (SBICIS), # 40.
SYSTEM CLASSIFICATION:
Unclassified.
E:\FR\FM\05SEN1.SGM
05SEN1
]]>Agencies
[Federal Register Volume 84, Number 172 (Thursday, September 5, 2019)]
[Notices]
[Pages 46767-46769]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19109]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-86806; File No. SR-CboeEDGX-2019-054]
Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To
Introduce a New Data Product on Its Equity Options Platform (``EDGX
Options'') To Be Known as Open-Close Data
August 29, 2019.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on August 21, 2019, Cboe EDGX Exchange, Inc. (the ``Exchange'' or
``EDGX'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the Exchange. The Exchange
filed the proposal as a ``non-controversial'' proposed rule change
pursuant to Section 19(b)(3)(A)(iii) of the Act \3\ and Rule 19b-
4(f)(6) thereunder.\4\ The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\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).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
Cboe EDGX Exchange, Inc. (the ``Exchange'' or ``EDGX'') is filing
with the Securities and Exchange Commission (``Commission'') a proposed
rule change to introduce a new data product on its equity options
platform (``EDGX Options'') to be known as Open-Close Data. 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 (https://markets.cboe.com/us/options/regulation/rule_filings/edgx/), at the Exchange's Office of the Secretary, and at
the Commission's Public Reference Room.
[[Page 46768]]
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 introduce a new data product on EDGX
Options to be known as Open-Close Data, which will be available for
purchase to EDGX Options Members and Non-Members.\5\ Cboe LiveVol, LLC
(``LiveVol''), a wholly owned subsidiary of the Exchange's parent
company, Cboe Global Markets, Inc., will make the Open-Close Data
available for purchase to Members and Non-Members on the LiveVol
DataShop website (datashop.cboe.com). The Exchange also proposes to
amend Exchange Rule 21.15(b) to add a description of the Open-Close
Data product.
---------------------------------------------------------------------------
\5\ The Exchange intends to submit a rule filing to establish
fees for Open-Close Data.
---------------------------------------------------------------------------
A description of each market data product offered by the Exchange
is described in Exchange Rule 21.15(b). The Exchange proposes to amend
Rule 21.15(b) to introduce and add a description of the Open-Close Data
product under proposed new subparagraph (6). The Exchange proposes to
describe the Open-Close Data as ``a data product that summarizes volume
(contracts traded on EDGX Options) by origin (customer and firm
orders), original order size and the opening or closing position of the
order.'' The volume data is also summarized by day and series (symbol,
expiration date, strike price, call or put). The Open-Close Data would
be available for purchase to both EDGX Members and Non-Members on a
subscription and ad-hoc basis. The Exchange notes that its affiliate,
Cboe Exchange, Inc. (``Cboe Options''), as well as other exchanges,
offer a similar data product.\6\
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 55062 (January 8,
2007), 72 FR 2048 (January 17, 2007) (approving SR-CBOE-2006-88);
See also Securities Exchange Act Release No. 56254 (August 15,
2007), 72 FR 47104 (August 22, 2007) (SR-ISE-2007-70).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\7\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\8\ 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f.
\8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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 believes that the proposed Open-
Close Data would further broaden the availability of U.S. option market
data to investors consistent with the principles of Regulation NMS. The
proposal also promotes increased transparency through the dissemination
of Open-Close Data. The proposed rule change would benefit investors by
providing access to the Open-Close Data, which may promote better
informed trading. Moreover, the Exchange's affiliate Cboe Options,
along with other exchanges, also offer a similar data product.\9\
---------------------------------------------------------------------------
\9\ See Securities Exchange Act Release No. 55062 (January 8,
2007), 72 FR 2048 (January 17, 2007) (approving SR-CBOE-2006-088);
See also Securities Exchange Act Release No. 56254 (August 15,
2007), 72 FR 47104 (August 22, 2007) (SR-ISE-2007-70).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act. Rather, the
Exchange believes that the proposal will promote competition by
permitting the Exchange to offer a data product similar to those
offered by other competitor options exchanges.\10\ The Exchange is
proposing to introduce Open-Close Data for EDGX Options in order to
keep pace with changes in the industry and evolving customer needs, and
believes this proposed rule change would contribute to robust
competition among national securities exchanges. As noted, at least
three other U.S. options exchanges offer a market data product that is
substantially similar to the Open-Close Data. As a result, the Exchange
believes this proposed rule change permits fair competition among
national securities exchanges. Therefore, the Exchange does not believe
the proposed rule change will result in any burden on competition that
is not necessary or appropriate in furtherance of the purposes of the
Act.
---------------------------------------------------------------------------
\10\ Id.
---------------------------------------------------------------------------
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange has neither solicited nor received written comments on
the proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \11\ and Rule 19b-
4(f)(6) thereunder.\12\
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\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \13\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \14\ permits the
Commission to designate a shorter time if such action is consistent
with the protection of investors and the public interest. The Exchange
has asked the Commission to waive the 30-day operative delay so that
the Exchange may implement the proposed rule change on September 1,
2019, the anticipated date upon which the Exchange expects to offer
Open-Close Data. The Exchange believes waiver of the operative delay is
consistent with the protection of investors and the public interest
because the proposed
[[Page 46769]]
rule change presents no new or novel issues, as other exchanges
currently offer a similar data product.\15\ For this reason, the
Commission believes that waiver of the 30-day operative delay is
consistent with the protection of investors and the public interest.
Therefore, the Commission hereby waives the operative delay and
designates the proposal as operative upon filing.\16\
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\13\ 17 CFR 240.19b-4(f)(6).
\14\ 17 CFR 240.19b-4(f)(6)(iii).
\15\ See supra note 6.
\16\ For purposes only of waiving the 30-day operative delay,
the Commission also has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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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 shall institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.
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
Use the Commission's internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to [email protected]. Please include
File Number SR-CboeEDGX-2019-054 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.
All submissions should refer to File Number SR-CboeEDGX-2019-054. 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 (https://www.sec.gov/rules/sro.shtml).
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. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-CboeEDGX-2019-054 and should be
submitted on or before September 26, 2019.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\17\
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\17\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-19109 Filed 9-4-19; 8:45 am]
BILLING CODE 8011-01-P
