Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Pilot Programs in Connection With the Listing and Trading of P.M.-Settled Series on Certain Broad-Based Index Options, 30353-30356 [2023-10037]

Download as PDF ddrumheller on DSK120RN23PROD with NOTICES1 Federal Register / Vol. 88, No. 91 / Thursday, May 11, 2023 / Notices successful policies and practices for promoting diversity and inclusion. The information collection is voluntary. The Commission may use information submitted to monitor progress and trends in the financial services industry regarding diversity and inclusion and to identify and highlight diversity and inclusion policies and practices that have been successful. In addition, the Commission may publish information submitted, such as leading practices, in a form that does not identify a particular entity or disclose confidential business information. Further, the Commission may share information with other Agencies, when appropriate, to support coordination of efforts and to avoid duplication. Title of Collection: Joint Standards for Assessing Diversity Policies and Practices. Type of Review: Request for a NonSubstantive Change to an Existing Approved Information Collection. Frequency of Response: Biennially. Estimated Number of Respondents: 260. Estimated Burden Hours per Respondent: Reporting: 8 hours; 4 hours annualized. Estimated Total Annual Burden Hours: 2,080; 1,040 annualized. Since the last approval of this information collection, we have adjusted the burden hours per respondent based on a reduction in the number of items in this information collection. Proposed Revisions: The SEC proposes to amend the Diversity SelfAssessment Tool to: (1) change the name of the information collection from the ‘‘Diversity Assessment Report’’ to the ‘‘Diversity Self-Assessment Tool’’; (2) allow firms to consent to allowing the SEC to publish the name of consenting firms having submitted a Diversity Self-Assessment Tool; (3) shorten the Diversity Self-Assessment Tool by combining and removing some items; (4) add clarifying language to items; and (5) shorten items for brevity. A draft of the proposed revised Diversity Self-Assessment Tool can be viewed at https://www.sec.gov/files/ omwi-diversity-self-assessment-tool.pdf. Request for Comments: The comments submitted in response to this notice will be summarized and included in the request for OMB approval. All comments will become a matter of public record. Written comments are invited on: (a) whether this collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate VerDate Sep<11>2014 17:07 May 10, 2023 Jkt 259001 of the burden imposed by the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing 60 days after the date of this publication, July 10, 2023. 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. Please direct your written comments to David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to: PRA_ Mailbox@sec.gov. Dated: May 5, 2023. J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2023–09996 Filed 5–10–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–97443; File No. SR– CboeEDGX–2023–035] Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Pilot Programs in Connection With the Listing and Trading of P.M.-Settled Series on Certain Broad-Based Index Options May 5, 2023. 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 May 2, 2023, Cboe EDGX Exchange, Inc. (‘‘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 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 PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 30353 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 Options’’) proposes to extend the pilot programs in connection with the listing and trading of P.M.-settled series on certain broadbased index options. 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. 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 proposed rule change extends the listing and trading of P.M.-settled series on certain broad-based index options on a pilot basis.5 Rule 29.11(a)(6) currently 5 The Exchange is authorized to list for trading options that overlie the Mini-SPX Index (‘‘XSP’’) and the Russell 2000 Index (‘‘RUT’’). See Rule 29.11(a). See also Securities Exchange Act Release Nos. 84481 (October 24, 2018), 83 FR 54624 (October 30, 2018) (Notice of Filing of a Proposed Rule Change To Permit the Listing and Trading of P.M.-Settled Series on Certain Broad-Based Index Options on a Pilot Basis) (SR–CboeEDGX–2018– 037) (‘‘Notice’’); 85182 (February 22, 2019), 84 FR 6846 (February 28, 2019) (Notice of Deemed Approval of a Proposed Rule Change To Permit the Listing and Trading of P.M.-Settled Series on Certain Broad-Based Index Options on a Pilot Basis) (SR–CboeEDGX–2018–037); 88054 (January 27, 2020), 85 FR 5761 (January 31, 2020) (Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Pilot Programs in Connection With the Listing and Trading of P.M.Settled Series on Certain Broad-Based Index Options) (SR–CboeEDGX–2020–002); 88787 (April 30, 2020), 85 FR 26995 (May 6, 2020) (Notice of Filing and Immediate Effectiveness of a Proposed Continued E:\FR\FM\11MYN1.SGM 11MYN1 30354 Federal Register / Vol. 88, No. 91 / Thursday, May 11, 2023 / Notices permits the listing and trading of XSP options with third-Friday-of-the-month expiration dates, whose exercise settlement value will be based on the closing index value on the expiration day (‘‘P.M.-settled’’) on a pilot basis set to expire on May 8, 2023 (the ‘‘XSPPM Pilot Program’’). Rule 29.11(j)(3) also permits the listing and trading of P.M.settled options on broad-based indexes with weekly expirations (‘‘Weeklys’’) and end-of-month expirations (‘‘EOMs’’) on a pilot basis set to expire on May 8, 2023 (the ‘‘Nonstandard Expirations Pilot Program’’, and together with the XSPPM Pilot Program, the ‘‘Pilot Programs’’). The Exchange proposes to extend the Pilot Programs through November 6, 2023. ddrumheller on DSK120RN23PROD with NOTICES1 XSPPM Pilot Program Rule 29.11(a)(6) permits the listing and trading, in addition to A.M.-settled XSP options, of P.M.-settled XSP options with third-Friday-of-the-month expiration dates on a pilot basis. The Exchange believes that continuing to permit the trading of XSP options on a P.M.-settled basis will continue to encourage greater trading in XSP options. Other than settlement and closing time on the last trading day (pursuant to Rule 29.10(a)),6 contract terms for P.M.-settled XSP options are Rule Change To Extend the Pilot Programs in Connection With the Listing and Trading of P.M.Settled Series on Certain Broad-Based Index Options) (SR–CboeEDGX–2020–019); 90253 (October 22, 2020) 85 FR 68390 (October 28, 2020) (Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Pilot Programs in Connection With the Listing and Trading of P.M.-Settled Series on Certain BroadBased Index Options) (SR–CboeEDGX–2020–050); 91700 (April 28, 2021), 86 FR 23770 (May 4, 2021) (Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Pilot Programs in Connection With the Listing and Trading of P.M.-Settled Series on Certain BroadBased Index Options) (SR–CboeEDGX–2021–022); 93453 (October 28, 2021), 86 FR 60667 (November 3, 2021) (Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Pilot Programs in Connection With the Listing and Trading of P.M.-Settled Series on Certain Broad-Based Index Options) (SR–CboeEDGX–2021– 047); and 94803 (April 27, 2022), 87 FR 26237 (May 3, 2022) (Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Pilot Programs in Connection With the Listing and Trading of P.M.-Settled Series on Certain Broad-Based Index Options) (SR–CboeEDGX–2022– 025); and 96209 (November 2, 2022), 87 FR 67520 (November 8, 2022) (Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Extend the Pilot Programs in Connection with the Listing and Trading of P.M.-Settled Series on Certain Broad-Based Index Options) (SR–CboeEDGX–2022– 047). 6 Rule 29.10(a) permits transactions in P.M.settled XSP options on their last trading day to be effected on the Exchange between the hours of 9:30 a.m. and 4:00 p.m. Eastern time. All other transactions in index options are effected on the Exchange between the hours of 9:30 a.m. and 4:15 p.m. Eastern time. VerDate Sep<11>2014 17:07 May 10, 2023 Jkt 259001 the same as the A.M.-settled XSP options. The contract uses a $100 multiplier and the minimum trading increments, strike price intervals, and expirations are the same as the A.M.settled XSP option series. P.M.-settled XSP options have European-style exercise. The Exchange also has flexibility to open for trading additional series in response to customer demand. If the Exchange were to propose another extension of the XSPPM Pilot Program, the Exchange would submit a filing proposing such amendments to the XSPPM Pilot Program. Further, any positions established under the XSPPM Pilot Program would not be impacted by the expiration of the XSPPM Pilot Program. For example, if the Exchange lists a P.M.-settled XSP option that expires after the XSPPM Pilot Program expires (and is not extended), then those positions would continue to exist. If the pilot were not extended, then the positions could continue to exist. However, any further trading in those series would be restricted to transactions where at least one side of the trade is a closing transaction. As part of the XSPPM Pilot Program, the Exchange submits a pilot report to the Commission at least two months prior to the expiration date of the pilot.7 This annual report contains an analysis of volume, open interest, and trading patterns. In proposing to extend the XSPPM Pilot Program, the Exchange will continue to abide by the reporting requirements described in the Notice.8 Additionally, the Exchange will provide the Commission with any additional data or analyses the Commission requests because it deems such data or analyses necessary to determine whether the XSPPM Pilot Program is consistent with the Exchange Act. The Exchange is in the process of making public on its website data and analyses previously submitted to the Commission under the Pilot Program, and will make public any data and analyses it submits to the Commission under the Pilot Program in the future. The Exchange also notes that its affiliated options exchange, Cboe Exchange, Inc. (‘‘Cboe Options’’) currently has pilots that permit P.M.-settled third Friday-of-themonth XSP options.9 Nonstandard Expirations Pilot Program Rule 29.11(j)(1) permits the listing and trading, on a pilot basis, of P.M.settled options on broad-based indexes 7 The Exchange notes that the Pilot Programs currently run on a bi-annual pilot basis. 8 See supra note 5. 9 See Cboe Options Rule 4.13.13, which also permits P.M.-settled third Friday-of-the-month SPX options on a pilot basis (‘‘SPXPM Pilot Program’’). PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 with nonstandard expiration dates and is currently set to expire on May 8, 2023. The Nonstandard Expirations Pilot Program permits both Weeklys and EOMs as discussed below. Contract terms for the Weekly and EOM expirations are similar to those of the A.M.-settled broad-based index options, except that the Weekly and EOM expirations are P.M.-settled. In particular, Rule 29.11(j)(1) permits the Exchange to open for trading Weeklys on any broad-based index eligible for standard options trading to expire on any Monday, Wednesday, or Friday (other than the third Friday-ofthe-month or days that coincide with an EOM). Weeklys are subject to all provisions of Rule 29.11 and are treated the same as options on the same underlying index that expire on the third Friday of the expiration month. However, under the Nonstandard Expirations Pilot Program, Weeklys are P.M.-settled, and new Weekly series may be added up to and including on the expiration date for an expiring Weekly. Rule 29.11(a)(2) permits the Exchange to open for trading EOMs on any broadbased index eligible for standard options trading to expire on the last trading day of the month. EOMs are subject to all provisions of Rule 29.11 and treated the same as options on the same underlying index that expire on the third Friday of the expiration month. However, under the Nonstandard Expirations Pilot Program, EOMs are P.M.-settled, and new series of EOMs may be added up to and including on the expiration date for an expiring EOM. As stated above, this proposed rule change extends the Nonstandard Expirations Pilot Program for broadbased index options on a pilot basis, for a period of six months. If the Exchange were to propose an additional extension of the Nonstandard Expirations Pilot Program, the Exchange would submit additional filings proposing such amendments. Further, any positions established under the Nonstandard Expirations Pilot Program would not be impacted by the expiration of the pilot. For example, if the Exchange lists a Weekly or EOM that expires after the Nonstandard Expirations Pilot Program expires (and is not extended), then those positions would continue to exist. However, any further trading in those series would be restricted to transactions where at least one side of the trade is a closing transaction. As part of the Nonstandard Expirations Pilot Program, the Exchange submits a pilot report to the Commission at least two months prior to E:\FR\FM\11MYN1.SGM 11MYN1 Federal Register / Vol. 88, No. 91 / Thursday, May 11, 2023 / Notices the expiration date of the pilot.10 This annual report contains an analysis of volume, open interest, and trading patterns. In proposing to extend the Nonstandard Expirations Pilot Program, the Exchange will continue to abide by the reporting requirements described in the Notice.11 Additionally, the Exchange will provide the Commission with any additional data or analyses the Commission requests because it deems such data or analyses necessary to determine whether the Nonstandard Expirations Pilot Program is consistent with the Exchange Act. The Exchange makes its annual data and analyses previously submitted to the Commission under the Pilot Program public on its website and will continue to make public any data and analyses it submits to the Commission under the Pilot Program in the future. The Exchange notes that other exchanges, including its affiliated exchange, Cboe Options, currently have pilots that have weekly and end-of-month expirations.12 ddrumheller on DSK120RN23PROD with NOTICES1 Additional Information The Exchange believes there is sufficient investor interest and demand in the XSPPM and Nonstandard Expirations Pilot Programs to warrant their extension. The Exchange believes that the Programs have provided investors with additional means of managing their risk exposures and carrying out their investment objectives. The proposed extensions will continue to offer investors the benefit of added transparency, price discovery, and stability, as well as the continued expanded trading opportunities in connection with different expiration times. The Exchange proposes the extension of the Pilot Programs in order to continue to give the Commission more time to consider the impact of the Pilot Programs. To this point, the Exchange believes that the Pilot Programs have been well-received by its Members and the investing public, and the Exchange would like to continue to provide investors with the ability to trade P.M.-settled XSP options and contracts with nonstandard expirations. All terms regarding the trading of the Pilot Products shall continue to operate as described in the XSPPM and Nonstandard Expirations Notice.13 The Exchange merely proposes herein to extend the terms of the Pilot Programs to November 6, 2023. 10 See supra note 7. supra note 5. 12 See Cboe Options Rule 4.13(e); and Phlx Rule 1101A(b)(5). 13 See supra note 5. 11 See VerDate Sep<11>2014 17:07 May 10, 2023 Jkt 259001 Furthermore, the Exchange has not experienced any adverse market effects with respect to the Programs. The Exchange will continue to monitor for any such disruptions or the development of any factors that would cause such disruptions. The Exchange represents it continues to have an adequate surveillance program in place for index options and that the proposed extension will not have an adverse impact on capacity. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ‘‘Act’’) and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of section 6(b) of the Act.14 Specifically, the Exchange believes the proposed rule change is consistent with the section 6(b)(5) 15 requirements that the rules of an exchange be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. In particular, the Exchange believes that the proposed extension of the Pilot Programs will continue to provide greater opportunities for investors. The Exchange believes that the Pilot Programs have been successful to date. The proposed rule change allows for an extension of the Program for the benefit of market participants. The Exchange believes that there is demand for the expirations offered under the Program and believes that P.M.-settled XSP, Weekly Expirations and EOMs will continue to provide the investing public and other market participants with the opportunities to trade desirable products and to better manage their risk exposure. The proposed extension will also provide the Commission further opportunity to observe such trading of the Pilot Products. Further, the Exchange has not encountered any problems with the Programs; it has not experienced any adverse effects or meaningful regulatory or capacity concerns from the operation of the Pilot Programs. Also, the Exchange believes that such trading pursuant to the XSPPM Pilot Program has not, and will 14 15 U.S.C. 78f(b). 15 15 U.S.C. 78f(b)(5). PO 00000 Frm 00080 Fmt 4703 Sfmt 4703 30355 not, adversely impact fair and orderly markets on Expiration Fridays for the underlying stocks comprising the S&P 500 index. 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. Specifically, the Exchange believes that, by extending the expiration of the Pilot Programs, the proposed rule change will allow for further analysis of the Program and a determination of how the Program shall be structured in the future. In doing so, the proposed rule change will also serve to promote regulatory clarity and consistency, thereby reducing burdens on the marketplace and facilitating investor protection. Specifically, the Exchange does not believe the continuation of the Pilot Program will impose any unnecessary or inappropriate burden on intramarket competition because it will continue to apply equally to all EDGX Options market participants, and the Pilot Products will continue to be available to all EDGX Options market participants. The Exchange believes there is sufficient investor interest and demand in the Pilot Programs to warrant its extension. The Exchange believes that, for the period that the Pilot Programs has been in operation, it has provided investors with desirable products with which to trade. Furthermore, as stated above, the Exchange maintains that it has not experienced any adverse market effects or regulatory concerns with respect to the Pilot Programs. The Exchange further does not believe that the proposed extension of the Pilot Programs will impose any burden on intermarket competition that is not necessary or appropriate in furtherance of the purposes of the Act because it only applies to trading on EDGX Options. To the extent that the continued trading of the Pilot Products may make EDGX Options a more attractive marketplace to market participants at other exchanges, such market participants may elect to become EDGX Options market participants. 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. E:\FR\FM\11MYN1.SGM 11MYN1 30356 Federal Register / Vol. 88, No. 91 / Thursday, May 11, 2023 / Notices 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 16 and Rule 19b– 4(f)(6) thereunder.17 A proposed rule change filed under Rule 19b–4(f)(6) 18 normally does not become operative prior to 30 days after the date of the filing. However, Rule 19b–4(f)(6)(iii) 19 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 proposal may become operative immediately upon filing. The Exchange states that waiver of the 30-day operative delay will allow it to extend the Pilot Programs prior to its expiration on May 8, 2023, and maintain the status quo, thereby reducing market disruption. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest as it will allow the Pilot Programs to continue uninterrupted, thereby avoiding investor confusion that could result from a temporary interruption in the Pilot Programs. Accordingly, the Commission hereby waives the 30-day operative delay and designates the proposed rule change as operative upon filing.20 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 16 15 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. 18 17 CFR 240.19b–4(f)(6). 19 17 CFR 240.19b–4(f)(6)(iii). 20 For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). ddrumheller on DSK120RN23PROD with NOTICES1 17 17 VerDate Sep<11>2014 17:07 May 10, 2023 Jkt 259001 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 rule-comments@ sec.gov. Please include File Number SR– CboeEDGX–2023–035 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–2023–035. 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. 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–CboeEDGX–2023– PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 035, and should be submitted on or before June 1, 2023. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.21 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2023–10037 Filed 5–10–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–97444; File No. SR–NFA– 2023–01] Self-Regulatory Organizations; National Futures Association; Notice of Filing and Immediate Effectiveness of Proposed Change to NFA Compliance Rule 2–9(c) and the Interpretive Notice Entitled ‘‘NFA Compliance Rule 2–9: FCM and IB Anti-Money Laundering Program’’ May 5, 2023. Pursuant to section 19(b)(7) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’),1 and Rule 19b–7 thereunder,2 notice is hereby given that on March 28, 2023, National Futures Association (‘‘NFA’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change described in Items I, II, and III below, which Items have been prepared by NFA. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. In its filing with the Commission (File No. SR–NFA–2023–01), NFA stated the following: NFA also filed the proposed rule change with the Commodity Futures Trading Commission (‘‘CFTC’’) in five separate filings in October 2011, August 2012, June 2018, May 2020, and September 2022; on October 13, 2011, NFA requested that the CFTC make a determination that review of the proposed rule change of NFA included in the October 2011 filing was not necessary; 3 on November 16, 2011, the CFTC notified NFA that it had determined not to review the proposed rule change; 4 on August 27, 2012, NFA 21 17 CFR 200.30–3(a)(12), (59). U.S.C. 78s(b)(7). 2 17 CFR 240.19b–7. 3 See letter dated October 13, 2011 from Thomas W. Sexton, III, Senior Vice President and General Counsel, NFA, to David A. Stawick, Office of the Secretariat, CFTC. This letter can be found in Exhibit 5(a) of File No. SR–NFA–2023–01. 4 See letter dated November 16, 2011 from Gary Barnett, Director, Division of Swap Dealer and Intermediary Oversight, CFTC to Thomas W. Sexton, Senior Vice President and General Counsel, NFA. This letter can be found in Exhibit 5(b) of File No. SR–NFA–2023–01. 1 15 E:\FR\FM\11MYN1.SGM 11MYN1

Agencies

[Federal Register Volume 88, Number 91 (Thursday, May 11, 2023)]
[Notices]
[Pages 30353-30356]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-10037]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97443; File No. SR-CboeEDGX-2023-035]


Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice 
of Filing and Immediate Effectiveness of a Proposed Rule Change To 
Extend the Pilot Programs in Connection With the Listing and Trading of 
P.M.-Settled Series on Certain Broad-Based Index Options

May 5, 2023.
    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 May 2, 2023, Cboe EDGX Exchange, Inc. (``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 Options'') 
proposes to extend the pilot programs in connection with the listing 
and trading of P.M.-settled series on certain broad-based index 
options. 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.

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 proposed rule change extends the listing and trading of P.M.-
settled series on certain broad-based index options on a pilot 
basis.\5\ Rule 29.11(a)(6) currently

[[Page 30354]]

permits the listing and trading of XSP options with third-Friday-of-
the-month expiration dates, whose exercise settlement value will be 
based on the closing index value on the expiration day (``P.M.-
settled'') on a pilot basis set to expire on May 8, 2023 (the ``XSPPM 
Pilot Program''). Rule 29.11(j)(3) also permits the listing and trading 
of P.M.-settled options on broad-based indexes with weekly expirations 
(``Weeklys'') and end-of-month expirations (``EOMs'') on a pilot basis 
set to expire on May 8, 2023 (the ``Nonstandard Expirations Pilot 
Program'', and together with the XSPPM Pilot Program, the ``Pilot 
Programs''). The Exchange proposes to extend the Pilot Programs through 
November 6, 2023.
---------------------------------------------------------------------------

    \5\ The Exchange is authorized to list for trading options that 
overlie the Mini-SPX Index (``XSP'') and the Russell 2000 Index 
(``RUT''). See Rule 29.11(a). See also Securities Exchange Act 
Release Nos. 84481 (October 24, 2018), 83 FR 54624 (October 30, 
2018) (Notice of Filing of a Proposed Rule Change To Permit the 
Listing and Trading of P.M.-Settled Series on Certain Broad-Based 
Index Options on a Pilot Basis) (SR-CboeEDGX-2018-037) (``Notice''); 
85182 (February 22, 2019), 84 FR 6846 (February 28, 2019) (Notice of 
Deemed Approval of a Proposed Rule Change To Permit the Listing and 
Trading of P.M.-Settled Series on Certain Broad-Based Index Options 
on a Pilot Basis) (SR-CboeEDGX-2018-037); 88054 (January 27, 2020), 
85 FR 5761 (January 31, 2020) (Notice of Filing and Immediate 
Effectiveness of a Proposed Rule Change To Extend the Pilot Programs 
in Connection With the Listing and Trading of P.M.-Settled Series on 
Certain Broad-Based Index Options) (SR-CboeEDGX-2020-002); 88787 
(April 30, 2020), 85 FR 26995 (May 6, 2020) (Notice of Filing and 
Immediate Effectiveness of a Proposed Rule Change To Extend the 
Pilot Programs in Connection With the Listing and Trading of P.M.-
Settled Series on Certain Broad-Based Index Options) (SR-CboeEDGX-
2020-019); 90253 (October 22, 2020) 85 FR 68390 (October 28, 2020) 
(Notice of Filing and Immediate Effectiveness of a Proposed Rule 
Change To Extend the Pilot Programs in Connection With the Listing 
and Trading of P.M.-Settled Series on Certain Broad-Based Index 
Options) (SR-CboeEDGX-2020-050); 91700 (April 28, 2021), 86 FR 23770 
(May 4, 2021) (Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change To Extend the Pilot Programs in Connection With 
the Listing and Trading of P.M.-Settled Series on Certain Broad-
Based Index Options) (SR-CboeEDGX-2021-022); 93453 (October 28, 
2021), 86 FR 60667 (November 3, 2021) (Notice of Filing and 
Immediate Effectiveness of a Proposed Rule Change To Extend the 
Pilot Programs in Connection With the Listing and Trading of P.M.-
Settled Series on Certain Broad-Based Index Options) (SR-CboeEDGX-
2021-047); and 94803 (April 27, 2022), 87 FR 26237 (May 3, 2022) 
(Notice of Filing and Immediate Effectiveness of a Proposed Rule 
Change To Extend the Pilot Programs in Connection With the Listing 
and Trading of P.M.-Settled Series on Certain Broad-Based Index 
Options) (SR-CboeEDGX-2022-025); and 96209 (November 2, 2022), 87 FR 
67520 (November 8, 2022) (Notice of Filing and Immediate 
Effectiveness of a Proposed Rule Change to Extend the Pilot Programs 
in Connection with the Listing and Trading of P.M.-Settled Series on 
Certain Broad-Based Index Options) (SR-CboeEDGX-2022-047).
---------------------------------------------------------------------------

XSPPM Pilot Program
    Rule 29.11(a)(6) permits the listing and trading, in addition to 
A.M.-settled XSP options, of P.M.-settled XSP options with third-
Friday-of-the-month expiration dates on a pilot basis. The Exchange 
believes that continuing to permit the trading of XSP options on a 
P.M.-settled basis will continue to encourage greater trading in XSP 
options. Other than settlement and closing time on the last trading day 
(pursuant to Rule 29.10(a)),\6\ contract terms for P.M.-settled XSP 
options are the same as the A.M.-settled XSP options. The contract uses 
a $100 multiplier and the minimum trading increments, strike price 
intervals, and expirations are the same as the A.M.-settled XSP option 
series. P.M.-settled XSP options have European-style exercise. The 
Exchange also has flexibility to open for trading additional series in 
response to customer demand.
---------------------------------------------------------------------------

    \6\ Rule 29.10(a) permits transactions in P.M.-settled XSP 
options on their last trading day to be effected on the Exchange 
between the hours of 9:30 a.m. and 4:00 p.m. Eastern time. All other 
transactions in index options are effected on the Exchange between 
the hours of 9:30 a.m. and 4:15 p.m. Eastern time.
---------------------------------------------------------------------------

    If the Exchange were to propose another extension of the XSPPM 
Pilot Program, the Exchange would submit a filing proposing such 
amendments to the XSPPM Pilot Program. Further, any positions 
established under the XSPPM Pilot Program would not be impacted by the 
expiration of the XSPPM Pilot Program. For example, if the Exchange 
lists a P.M.-settled XSP option that expires after the XSPPM Pilot 
Program expires (and is not extended), then those positions would 
continue to exist. If the pilot were not extended, then the positions 
could continue to exist. However, any further trading in those series 
would be restricted to transactions where at least one side of the 
trade is a closing transaction.
    As part of the XSPPM Pilot Program, the Exchange submits a pilot 
report to the Commission at least two months prior to the expiration 
date of the pilot.\7\ This annual report contains an analysis of 
volume, open interest, and trading patterns. In proposing to extend the 
XSPPM Pilot Program, the Exchange will continue to abide by the 
reporting requirements described in the Notice.\8\ Additionally, the 
Exchange will provide the Commission with any additional data or 
analyses the Commission requests because it deems such data or analyses 
necessary to determine whether the XSPPM Pilot Program is consistent 
with the Exchange Act. The Exchange is in the process of making public 
on its website data and analyses previously submitted to the Commission 
under the Pilot Program, and will make public any data and analyses it 
submits to the Commission under the Pilot Program in the future. The 
Exchange also notes that its affiliated options exchange, Cboe 
Exchange, Inc. (``Cboe Options'') currently has pilots that permit 
P.M.-settled third Friday-of-the-month XSP options.\9\
---------------------------------------------------------------------------

    \7\ The Exchange notes that the Pilot Programs currently run on 
a bi-annual pilot basis.
    \8\ See supra note 5.
    \9\ See Cboe Options Rule 4.13.13, which also permits P.M.-
settled third Friday-of-the-month SPX options on a pilot basis 
(``SPXPM Pilot Program'').
---------------------------------------------------------------------------

Nonstandard Expirations Pilot Program
    Rule 29.11(j)(1) permits the listing and trading, on a pilot basis, 
of P.M.-settled options on broad-based indexes with nonstandard 
expiration dates and is currently set to expire on May 8, 2023. The 
Nonstandard Expirations Pilot Program permits both Weeklys and EOMs as 
discussed below. Contract terms for the Weekly and EOM expirations are 
similar to those of the A.M.-settled broad-based index options, except 
that the Weekly and EOM expirations are P.M.-settled.
    In particular, Rule 29.11(j)(1) permits the Exchange to open for 
trading Weeklys on any broad-based index eligible for standard options 
trading to expire on any Monday, Wednesday, or Friday (other than the 
third Friday-of-the-month or days that coincide with an EOM). Weeklys 
are subject to all provisions of Rule 29.11 and are treated the same as 
options on the same underlying index that expire on the third Friday of 
the expiration month. However, under the Nonstandard Expirations Pilot 
Program, Weeklys are P.M.-settled, and new Weekly series may be added 
up to and including on the expiration date for an expiring Weekly.
    Rule 29.11(a)(2) permits the Exchange to open for trading EOMs on 
any broad-based index eligible for standard options trading to expire 
on the last trading day of the month. EOMs are subject to all 
provisions of Rule 29.11 and treated the same as options on the same 
underlying index that expire on the third Friday of the expiration 
month. However, under the Nonstandard Expirations Pilot Program, EOMs 
are P.M.-settled, and new series of EOMs may be added up to and 
including on the expiration date for an expiring EOM.
    As stated above, this proposed rule change extends the Nonstandard 
Expirations Pilot Program for broad-based index options on a pilot 
basis, for a period of six months. If the Exchange were to propose an 
additional extension of the Nonstandard Expirations Pilot Program, the 
Exchange would submit additional filings proposing such amendments. 
Further, any positions established under the Nonstandard Expirations 
Pilot Program would not be impacted by the expiration of the pilot. For 
example, if the Exchange lists a Weekly or EOM that expires after the 
Nonstandard Expirations Pilot Program expires (and is not extended), 
then those positions would continue to exist. However, any further 
trading in those series would be restricted to transactions where at 
least one side of the trade is a closing transaction.
    As part of the Nonstandard Expirations Pilot Program, the Exchange 
submits a pilot report to the Commission at least two months prior to

[[Page 30355]]

the expiration date of the pilot.\10\ This annual report contains an 
analysis of volume, open interest, and trading patterns. In proposing 
to extend the Nonstandard Expirations Pilot Program, the Exchange will 
continue to abide by the reporting requirements described in the 
Notice.\11\ Additionally, the Exchange will provide the Commission with 
any additional data or analyses the Commission requests because it 
deems such data or analyses necessary to determine whether the 
Nonstandard Expirations Pilot Program is consistent with the Exchange 
Act. The Exchange makes its annual data and analyses previously 
submitted to the Commission under the Pilot Program public on its 
website and will continue to make public any data and analyses it 
submits to the Commission under the Pilot Program in the future. The 
Exchange notes that other exchanges, including its affiliated exchange, 
Cboe Options, currently have pilots that have weekly and end-of-month 
expirations.\12\
---------------------------------------------------------------------------

    \10\ See supra note 7.
    \11\ See supra note 5.
    \12\ See Cboe Options Rule 4.13(e); and Phlx Rule 1101A(b)(5).
---------------------------------------------------------------------------

Additional Information
    The Exchange believes there is sufficient investor interest and 
demand in the XSPPM and Nonstandard Expirations Pilot Programs to 
warrant their extension. The Exchange believes that the Programs have 
provided investors with additional means of managing their risk 
exposures and carrying out their investment objectives. The proposed 
extensions will continue to offer investors the benefit of added 
transparency, price discovery, and stability, as well as the continued 
expanded trading opportunities in connection with different expiration 
times. The Exchange proposes the extension of the Pilot Programs in 
order to continue to give the Commission more time to consider the 
impact of the Pilot Programs. To this point, the Exchange believes that 
the Pilot Programs have been well-received by its Members and the 
investing public, and the Exchange would like to continue to provide 
investors with the ability to trade P.M.-settled XSP options and 
contracts with nonstandard expirations. All terms regarding the trading 
of the Pilot Products shall continue to operate as described in the 
XSPPM and Nonstandard Expirations Notice.\13\ The Exchange merely 
proposes herein to extend the terms of the Pilot Programs to November 
6, 2023.
---------------------------------------------------------------------------

    \13\ See supra note 5.
---------------------------------------------------------------------------

    Furthermore, the Exchange has not experienced any adverse market 
effects with respect to the Programs. The Exchange will continue to 
monitor for any such disruptions or the development of any factors that 
would cause such disruptions. The Exchange represents it continues to 
have an adequate surveillance program in place for index options and 
that the proposed extension will not have an adverse impact on 
capacity.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
the Securities Exchange Act of 1934 (the ``Act'') and the rules and 
regulations thereunder applicable to the Exchange and, in particular, 
the requirements of section 6(b) of the Act.\14\ Specifically, the 
Exchange believes the proposed rule change is consistent with the 
section 6(b)(5) \15\ requirements that the rules of an exchange be 
designed to prevent fraudulent and manipulative acts and practices, to 
promote just and equitable principles of trade, to foster cooperation 
and coordination with persons engaged in regulating, clearing, 
settling, processing information with respect to, and facilitating 
transactions in securities, to remove impediments to and perfect the 
mechanism of a free and open market and a national market system, and, 
in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78f(b).
    \15\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In particular, the Exchange believes that the proposed extension of 
the Pilot Programs will continue to provide greater opportunities for 
investors. The Exchange believes that the Pilot Programs have been 
successful to date. The proposed rule change allows for an extension of 
the Program for the benefit of market participants. The Exchange 
believes that there is demand for the expirations offered under the 
Program and believes that P.M.-settled XSP, Weekly Expirations and EOMs 
will continue to provide the investing public and other market 
participants with the opportunities to trade desirable products and to 
better manage their risk exposure. The proposed extension will also 
provide the Commission further opportunity to observe such trading of 
the Pilot Products. Further, the Exchange has not encountered any 
problems with the Programs; it has not experienced any adverse effects 
or meaningful regulatory or capacity concerns from the operation of the 
Pilot Programs. Also, the Exchange believes that such trading pursuant 
to the XSPPM Pilot Program has not, and will not, adversely impact fair 
and orderly markets on Expiration Fridays for the underlying stocks 
comprising the S&P 500 index.

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. Specifically, the Exchange 
believes that, by extending the expiration of the Pilot Programs, the 
proposed rule change will allow for further analysis of the Program and 
a determination of how the Program shall be structured in the future. 
In doing so, the proposed rule change will also serve to promote 
regulatory clarity and consistency, thereby reducing burdens on the 
marketplace and facilitating investor protection.
    Specifically, the Exchange does not believe the continuation of the 
Pilot Program will impose any unnecessary or inappropriate burden on 
intramarket competition because it will continue to apply equally to 
all EDGX Options market participants, and the Pilot Products will 
continue to be available to all EDGX Options market participants. The 
Exchange believes there is sufficient investor interest and demand in 
the Pilot Programs to warrant its extension. The Exchange believes 
that, for the period that the Pilot Programs has been in operation, it 
has provided investors with desirable products with which to trade. 
Furthermore, as stated above, the Exchange maintains that it has not 
experienced any adverse market effects or regulatory concerns with 
respect to the Pilot Programs. The Exchange further does not believe 
that the proposed extension of the Pilot Programs will impose any 
burden on intermarket competition that is not necessary or appropriate 
in furtherance of the purposes of the Act because it only applies to 
trading on EDGX Options. To the extent that the continued trading of 
the Pilot Products may make EDGX Options a more attractive marketplace 
to market participants at other exchanges, such market participants may 
elect to become EDGX Options market participants.

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.

[[Page 30356]]

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 \16\ and Rule 19b-
4(f)(6) thereunder.\17\
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78s(b)(3)(A).
    \17\ 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.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \18\ normally 
does not become operative prior to 30 days after the date of the 
filing. However, Rule 19b-4(f)(6)(iii) \19\ 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 proposal 
may become operative immediately upon filing. The Exchange states that 
waiver of the 30-day operative delay will allow it to extend the Pilot 
Programs prior to its expiration on May 8, 2023, and maintain the 
status quo, thereby reducing market disruption. The Commission believes 
that waiving the 30-day operative delay is consistent with the 
protection of investors and the public interest as it will allow the 
Pilot Programs to continue uninterrupted, thereby avoiding investor 
confusion that could result from a temporary interruption in the Pilot 
Programs. Accordingly, the Commission hereby waives the 30-day 
operative delay and designates the proposed rule change as operative 
upon filing.\20\
---------------------------------------------------------------------------

    \18\ 17 CFR 240.19b-4(f)(6).
    \19\ 17 CFR 240.19b-4(f)(6)(iii).
    \20\ For purposes only of waiving the 30-day operative delay, 
the Commission has also considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    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-2023-035 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-2023-035. 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. 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-CboeEDGX-2023-035, and should be 
submitted on or before June 1, 2023.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\21\
---------------------------------------------------------------------------

    \21\ 17 CFR 200.30-3(a)(12), (59).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2023-10037 Filed 5-10-23; 8:45 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.