[Federal Register Volume 89, Number 32 (Thursday, February 15, 2024)]
[Notices]
[Pages 11882-11886]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-03099]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-99510; File No. SR-CboeEDGX-2024-012]


Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice 
of Filing and Immediate Effectiveness of a Proposed Rule Change To 
Amend Certain Rules Related to Stock-Option Orders

February 9, 2024.
    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 February 6, 2024, Cboe EDGX Exchange, Inc. (the ``Exchange'' or 
``EDGX'') filed with the Securities and Exchange Commission (the 
``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 pursuant to Section 19(b)(3)(A)(iii) of the Act \3\ 
and Rule 19b-4(f)(6) thereunder.\4\ The Commission is publishing this 
notice to solicit comments on the proposed rule change from interested 
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    Cboe EDGX Exchange, Inc. (the ``Exchange'' or ``EDGX Options'') 
proposes to amend certain Rules related to stock-option orders. 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 (http://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

[[Page 11883]]

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 update certain of its Rules regarding the 
definition and execution of stock-option orders. Rule 21.20(b) defines 
a ``stock-option order'' as the purchase or sale of a stated number of 
units of an underlying stock or a security convertible into the 
underlying stock (``convertible security'') coupled with the purchase 
or sale of an option contract(s) on the opposite side of the market 
representing either (a) the same number of units of the underlying 
stock or convertible security or (b) the number of units of the 
underlying stock necessary to create a delta neutral position, but in 
no case in a ratio greater than eight-to-one (8.00), where the ratio 
represents the total number of units of the underlying stock or 
convertible security in the option leg(s) to the total number of units 
of the underlying stock or convertible security in the stock leg.\5\
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    \5\ Only those stock-option orders in the classes designated by 
the Exchange with no more than the applicable number of legs are 
eligible for processing. Stock-option orders execute in the same 
manner as other complex orders, except as otherwise specified in 
Rule 21.20.
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    Rule 21.20(f)(2)(B) currently describes certain restrictions on 
executions of stock-option orders. Current Rule 21.20(f)(2)(B) provides 
that stock-option orders that execute electronically are subject to the 
following:
     For a stock-option order with one option leg, the option 
leg may not trade at a price worse than the individual component price 
on the Simple Book or at the same price as a Priority Customer Order on 
the Simple Book.
     For a stock-option order with more than one option leg, 
the option legs must trade at prices pursuant to Rule 21.20(f)(2)(A) 
above.\6\
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    \6\ Rule 21.20(f)(2)(A) states the System does not execute a 
complex order pursuant to Rule 21.20 at a net price: (i) that would 
cause any component of the complex strategy to be executed at a 
price of zero; (ii) that would cause any component of the complex 
strategy to be executed at a price worse than the individual 
component prices on the Simple Book; (iii) worse than the price that 
would be available if the complex order Legged into the Simple Book; 
or (iv) worse than the synthetic best bid or offer (``SBBO'') or 
equal to the SBBO when there is a Priority Customer order on any leg 
comprising the SBBO and: (a) if a complex order has a ratio equal to 
or greater than oneto-three [sic] (.333) and less than or equal to 
three-to-one (3.00), at least one component of the complex order 
must execute at a price that improves the BBO for that component; or 
(b) if the complex order has a ratio less than one-to-three (.333) 
or greater than three-to-one (3.00), the component(s) of the complex 
order for the leg(s) with a Priority Customer order at the BBO must 
execute at a price that improves the price of that Priority Customer 
order(s) on the Simple Book, except AON complex orders may only 
execute at prices better than the SBBO.
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     A stock-option order may only execute if the stock leg is 
executable at the price(s) necessary to achieve the desired net 
price.\7\
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    \7\ To facilitate the execution of the stock leg and options 
leg(s) of an executable stock-option order at valid increments 
pursuant to Rule 21.20(f)(1)(B), the legs may trade outside of their 
expected notional trade value by a specified amount (which the 
Exchange determines), unless the order has a capacity of ``C''.
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     The System executes the buy (sell) stock leg of a stock-
option order pursuant to Rule 21.20 up to a buffer amount above (below) 
the NBO (NBB) for the stock leg.\8\
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    \8\ See Rule 21.20(f)(2)(B) (the provisions off which the 
Exchange proposes to number as subparagraphs (i) through (iv)). The 
rule further provides that the execution price of the buy (sell) 
stock leg of a QCC with Stock Order may be any price (including 
outside the NBBO for the stock leg), except the price must be 
permitted by Regulation SHO and the Limit Up-Limit Down Plan. See 
proposed Rule 21.20(f)(2)(B)(iv).
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    The Exchange previously amended its rules to permit complex orders 
of all ratios to be executed on the Exchange, subject to certain 
execution restrictions.\9\ Rule 21.20(a) currently defines ``complex 
order'' as any order involving the concurrent purchase and/or sale of 
two or more different series in the same class (the ``legs'' or 
``components'' of the complex order), for the same account, in any 
ratio and for the purposes of executing a particular investment 
strategy. Only those complex orders with no more than the applicable 
number of legs (determined by the Exchange) are eligible for 
processing.
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    \9\ See Securities Exchange Release No. 95321 (July 19, 2022), 
87 FR 44174 (July 25, 2022) (SR-CboeEDGX-2021-033).
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    The Exchange first proposes to adopt definitions of ``conforming'' 
and ``nonconforming'' complex orders in Rule 21.20(a). The Exchange 
notes these proposed definitions are consistent with definitions used 
by other options exchanges.\10\ Specifically, the Exchange proposes to 
define a ``conforming complex order'' as (a) a complex order with a 
ratio on the options legs greater than or equal to one-to-three (.333) 
or less than or equal to three-to-one (3.00) and (b) a stock-option 
order with a ratio less than or equal to eight-to-one (8.00), where the 
ratio represents the total number of units of the underlying stock or 
convertible security in the option leg(s) to the total number of units 
of the underlying stock or convertible security in the stock leg. The 
Exchange proposes to define a ``nonconforming complex order'' as (a) a 
complex order with a ratio on the options legs less than one-to-three 
(.333) or greater than three-to-one (3.00) and (b) a stock-option order 
with a ratio greater than eight-to-one (8.00), where the ratio 
represents the total number of units of the underlying stock or 
convertible security in the option leg(s) to the total number of units 
of the underlying stock or convertible security in the stock leg.\11\ 
The proposed definitions of conforming and nonconforming complex orders 
each provide that, for the purpose of applying these ratios to complex 
orders comprised of legs for both mini-options and standard options, 
ten mini-option contracts represent one standard option contract. These 
proposed ratio applications are consistent with the current definitions 
of complex order and stock-option order.
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    \10\ See Cboe Exchange, Inc. (``Cboe Options'') Rule 1.1 
(definitions of ``conforming complex order'' and ``nonconforming 
complex order''); and Miami International Securities Exchange, LLC 
(``MIAX'') Rule 518(a)(8) and (16) (defining ``conforming ratio'' 
and ``nonconforming ratio'').
    \11\ The proposed definitions of conforming and nonconforming 
complex order provide that, for the purpose of applying these ratios 
to complex orders comprised of legs for both mini-options and 
standard options, ten mini-option contracts represent one standard 
option contract.
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    The proposed rule change amends Rule 21.20(f)(2)(A) to incorporate 
the proposed definitions of conforming and nonconforming complex orders 
but makes no other substantive changes to this rule. These proposed 
changes are consistent with industry terminology regarding complex 
orders with these ratios.
    Based on the definition in Rule 21.20 of complex orders, which 
includes stock-option orders, the Exchange's previous rule change was 
intended to apply to stock-option orders (i.e., to permit stock-option 
orders of any ratio to be processed).\12\ The reasons set forth in that 
rule change for expanding processing of nonconforming complex orders 
applies to all complex orders, including stock-option orders. However, 
the Exchange inadvertently did not

[[Page 11884]]

update certain provisions specific to stock-option orders. Therefore, 
in addition to adding the proposed definitions of conforming and 
nonconforming complex orders, the proposed rule change updates the 
definition of stock-option order in Rule 21.20 to allow the Exchange to 
permit stock-option orders of any ratio to be processed (rather than 
stock-option orders in ratios no greater than eight-to-one (8.00)).\13\ 
This is consistent with the language currently included in the 
definition of ``complex order'' in Rule 21.20(a), the intent of which 
is to permit nonconforming complex orders (including stock-option 
orders) to be submitted for processing on the Exchange pursuant to Rule 
21.20.\14\
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    \12\ See supra note 9; and Exchange Notice, Cboe EDGX and C2 
Options Introduce New Net, Leg Price Increments and Enhanced 
Handling for Complex Orders with Non-Conforming Ratios, dated July 
1, 2022 (available at https://cdn.cboe.com/resources/release_notes/2022/Cboe-EDGX-and-C2-Options-Introduce-New-Net-Leg-Price-Increments-and-Enhanced-Handling-for-Complex-Orders-with-Non-Conforming-Ratios.pdf).
    \13\ The proposed rule change also amends the paragraph 
lettering in the definition of stock-option order to conform to the 
paragraph numbering and lettering scheme used throughout the Rules.
    \14\ The Exchange notes other options exchanges rules permit the 
electronic processing of nonconforming stock-option orders. See Cboe 
Rule 5.33(b)(5) (definition of ``stock-option order''); and MIAX 
Rule 518(a)(5) (definition of ``complex order'').
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    The proposed rule change also adds proposed Rule 21.20(f)(2)(B)(v) 
to state the System does not execute a stock-option order pursuant to 
Rule 21.20 at a net price worse than the SBBO or equal to the SBBO when 
there is a Priority Customer order on any leg comprising the SBBO and: 
(a) if a conforming stock-option order, at least one option component 
of the stock-option order must execute at a price that improves the BBO 
for that component by at least one minimum increment; or (b) if a 
nonconforming stock-option order, the option component(s) of the stock-
option order for the leg(s) with a Priority Customer order at the BBO 
must execute at a price that improves the price of that Priority 
Customer order(s) on the Simple Book by at least one minimum increment, 
except AON \15\ stock-option orders may only execute at prices better 
than the SBBO. This is consistent with the permissible execution prices 
of conforming and nonconforming complex orders with only option 
components.\16\ Therefore, execution of all conforming and 
nonconforming complex orders, including stock-option orders, continues 
to protect Priority Customer interest on the Exchange.
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    \15\ See Rule 21.1(d)(4) for definition of ``all-or-none'' or 
``AON'' orders.
    \16\ See Rule 21.20(f)(2)(A)(iv). This execution priority is 
also the same as other options exchanges. See Cboe Options Rule 
5.33(f)(2)(B); and MIAX Rule 518, Interpretation and Policy .01(c).
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    The proposed rule change has no impact on the requirements for 
stock-option orders or how they may be executed. For example, all 
stock-option orders (both conforming and nonconforming) must satisfy 
the criteria set forth in the definitions of stock-option orders in 
Rule 21.20(b), as set forth above. Additionally, all stock-option 
orders must comply with the Qualified Contingent Trade (``QCT'') 
exemption.\17\ The Exchange represents that its surveillances 
incorporate stock-option orders with all ratios, including 
nonconforming ratios.
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    \17\ See Rule 21.20, Interpretation and Policy .04.
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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.\18\ Specifically, the 
Exchange believes the proposed rule change is consistent with the 
Section 6(b)(5) \19\ 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. Additionally, 
the Exchange believes the proposed rule change is consistent with the 
Section 6(b)(5) \20\ requirement that the rules of an exchange not be 
designed to permit unfair discrimination between customers, issuers, 
brokers, or dealers.
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    \18\ 15 U.S.C. 78f(b).
    \19\ 15 U.S.C. 78f(b)(5).
    \20\ Id.
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    In particular, the Exchange believes the proposed rule change to 
adopt definitions of conforming and nonconforming complex orders 
(including stock-option orders) in Rule 21.20(a), and to incorporate 
these proposed definitions into Rule 21.20(f)(2)(A)(iv) will protect 
investors, as it incorporates into the Exchange's Rules terminology 
generally used in the industry to refer to complex orders with ratios 
equal to and greater than one-to-three (0.333) and less three-to-one 
(3.00) (conforming) and less than one-to-three (0.333) and greater than 
three-to-one 3.00 (nonconforming), and stock-option orders with ratios 
less than or equal to eight-to-one (8.00) (conforming) and greater than 
eight-to-one (8.00) (nonconforming). Therefore, the Exchange believes 
this proposed rule change adds transparency and reduces potential 
confusion within the Exchange's Rules. These definitions ultimately 
make no substantive changes to the rules and relate merely to 
terminology. The Exchange notes these definitions are substantially 
similar to definitions used in other options exchanges' rulebooks.\21\
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    \21\ See Cboe Rule 1.1 (definitions of ``conforming complex 
order'' and ``nonconforming complex order''); and MIAX Rule 
518(a)(8) and (16) (defining ``conforming ratio'' and 
``nonconforming ratio'').
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    Additionally, the Exchange believes the proposed rule change to 
provide for the processing of stock-option orders with any ratio will 
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, as it will eliminate confusion 
regarding what types of stock-option orders are permissible for 
processing. As noted above, when the Exchange amended its Rules to 
permit the processing of nonconforming complex orders, the intent of 
that amendment was to permit the processing of all nonconforming 
complex orders, including nonconforming stock-option orders. The 
reasons set forth in the Exchange's prior rule filing regarding 
expansion of processing of nonconforming complex orders applies to all 
complex orders, including stock-option orders; the Exchange 
inadvertently omitted updates to certain provision regarding stock-
option orders to incorporate that change.\22\ The proposed rule change 
merely updates the definition of stock-option order to incorporate the 
same change that was made to the definition of complex order with 
respect to processing to provide consistency and transparency in the 
Exchange's Rules. As noted above, the proposed rule changes regarding 
execution of conforming and nonconforming stock-option orders are 
consistent with the Exchange's previously adopted rules regarding 
execution of other conforming and nonconforming complex orders, as well 
as the rules of other options exchanges.\23\
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    \22\ See supra note 9.
    \23\ See Cboe Options Rule 5.33(f)(2)(B); and MIAX Rule 518, 
Interpretation and Policy .01(c).
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    The proposed rule change also adds a provision in Rule 
21.20(f)(2)(B) regarding the specific permissible execution prices for 
conforming and nonconforming stock-option orders, consistent with the 
execution pricing for other conforming and nonconforming complex 
orders, which further adds transparency regarding the execution of 
these orders on the Exchange. The Exchange believes the proposed rule

[[Page 11885]]

change will add clarity, transparency, and consistency to its Rules, 
thus eliminating potential confusion about the permissible execution 
prices of conforming and nonconforming complex orders, which will 
ultimately remove impediments to and perfect the mechanisms of a free 
and open market and national market system, and in general protect 
investors. The proposed rule change will further remove impediments to 
and perfect the mechanism of a free and open market and a national 
market system, as it is consistent with the rules of other options 
exchanges.\24\
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    \24\ See Cboe Rules 1.1 (definitions of ``conforming complex 
order'' and ``nonconforming complex order'') and Rule 5.33(f)(2)(B); 
and MIAX Rule 518(a)(8) and (16) (defining ``conforming ratio'' and 
``nonconforming ratio'') and Interpretation and Policy .01(c).
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    The proposed rule change will permit the electronic trading of 
nonconforming stock-option orders but has no impact on the requirements 
for stock-option orders or how they may be executed. Execution of all 
conforming and nonconforming complex orders, including stock-option 
orders, will continue to protect Priority Customer interest on the 
Exchange. All stock-option orders (both conforming and nonconforming) 
must satisfy the criteria set forth in the definition of stock-option 
orders in Rule 21.20(b), which is described above. Additionally, all 
stock-option orders must comply with the QCT exemption.\25\ The 
Exchange represents that its surveillances incorporate stock-option 
orders with all ratios, including nonconforming ratios.
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    \25\ See Rule 21.20, Interpretation and Policy .04.
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    The Exchange believes the proposed changes to update paragraph 
lettering and numbering of certain subparagraphs will benefit 
investors, as it conforms these provisions to the lettering and 
numbering scheme used throughout the Rulebook, which promotes 
consistency throughout the Rulebook and may ultimately reduce potential 
investor confusion.

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.
    The Exchange does not believe that the proposed rule change will 
impose any burden on intramarket competition that is not necessary or 
appropriate in furtherance of the purposes of the Act, as the proposed 
rule change applies equally to all Members. Therefore, any Member may 
submit conforming and nonconforming stock-option orders, which will all 
be handled by the Exchange in a uniform manner. Further, the Exchange's 
proposal will continue to protect Priority Customer interest on the 
Exchange.
    The Exchange does not believe that the proposed rule change will 
impose any burden on intermarket competition that is not necessary or 
appropriate in furtherance of the purposes of the Act, as it has no 
impact on the requirements for stock-option orders or how they may be 
executed. As discussed above, the proposed rule change merely updates 
certain rule provisions it inadvertently did not update in connection 
with a previous rule change. Additionally, the proposed rule change is 
consistent with the offering of other options exchanges.\26\ The 
Exchange believes availability of conforming and nonconforming complex 
orders, including stock-option orders, may promote competition, as it 
provides investors with multiple venues at which to execute these 
orders, giving investors greater flexibility and choice of where to 
send their orders.
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    \26\ See Cboe Options Rule 5.33(f)(2)(B); and MIAX Rule 518, 
Interpretation and Policy .01(c).
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    The Exchange believes the proposed rule change to make 
nonsubstantive updates to lettering and numbering of subparagraphs will 
have no burden on intramarket or intermarket competition, as these 
changes are not competitive and merely conform these subparagraphs to 
the lettering and numbering scheme used throughout the Rulebook.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    The Exchange neither solicited nor received comments on the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Pursuant to Section 19(b)(3)(A) of the Act \27\ and Rule 19b-
4(f)(6) \28\ thereunder, the Exchange has designated this proposal as 
one that effects a change that: (i) does not significantly affect the 
protection of investors or the public interest; (ii) does not impose 
any significant burden on competition; and (iii) by its terms, does not 
become operative for 30 days from the date on which it was filed, or 
such shorter time as the Commission may designate, it has become 
effective pursuant to Section 19(b)(3)(A) of the Act \29\ and Rule 19b-
4(f)(6) thereunder.\30\
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    \27\ 15 U.S.C. 78s(b)(3)(A).
    \28\ 17 CFR 240.19b-4(f)(6).
    \29\ 15 U.S.C. 78s(b)(3)(A).
    \30\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file 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 normally does not become operative for 30 days after the date of 
its filing. However, Rule 19b-4(f)(6)(iii) \31\ 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 operative delay will immediately eliminate potential 
confusion regarding the permissibility of conforming and nonconforming 
stock-option orders on the Exchange and will provide investors with an 
additional venue for executing nonconforming stock-option orders. The 
Exchange further states that the proposal is not novel because other 
options exchanges have substantially similar definitions of conforming 
and nonconforming complex orders, other options exchanges permit 
electronic processing of nonconforming stock-option orders, and the 
proposed execution pricing requirements for nonconforming stock-option 
orders are consistent with the execution pricing requirements of other 
options exchanges.\32\ The Exchange also states that the proposed 
execution pricing requirements will protect Priority Customer interest 
on the Exchange.
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    \31\ 17 CFR 240.19b-4(f)(6)(iii).
    \32\ See Cboe Options Rules 1.1 (definitions of ``conforming 
complex order'' and ``nonconforming complex order'') and 
5.33(f)(2)(B); and MIAX Rule 518(a)(8) and (16) (defining 
``conforming ratio'' and ``non-conforming ratio'') and MIAX Rule 
518, Interpretation and Policy .01(c).
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    As discussed above, the proposed definitions of conforming and 
nonconforming stock-option order are substantively identical to 
definitions adopted by other options exchanges.\33\ In addition, the 
proposed execution pricing requirements for stock-option orders are 
consistent with the rules of other options exchanges.\34\ The proposal 
does not raise new or novel regulatory issues and will provide 
investors with

[[Page 11886]]

an additional venue for executing nonconforming stock-option orders 
electronically. For these reasons, the Commission believes that waiver 
of the 30-day operative delay is consistent with the protection of 
investors and the public interest. Accordingly, the Commission waives 
the 30-day operative delay and designates the proposed rule change 
operative upon filing.\35\
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    \33\ See Cboe Rule 1.1 and MIAX Rules 518(a)(8) and (16).
    \34\ See Cboe Rule 5.33(f)(2)(B)(v) and MIAX Rules 518(c)(1)(iv) 
and (v) and MIAX Rule 518, Interpretation and Policy .01(c).
    \35\ 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).
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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 will 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-2024-012 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-2024-012. 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 
a.m. and 3 p.m. Copies of the filing also will be available for 
inspection and copying at the principal office of the Exchange. Do not 
include personal identifiable information in submissions; you should 
submit only information that you wish to make available publicly. We 
may redact in part or withhold entirely from publication submitted 
material that is obscene or subject to copyright protection. All 
submissions should refer to file number SR-CboeEDGX-2024-012 and should 
be submitted on or before March 7, 2024.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\36\
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    \36\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-03099 Filed 2-14-24; 8:45 am]
BILLING CODE 8011-01-P