[Federal Register Volume 88, Number 14 (Monday, January 23, 2023)]
[Notices]
[Pages 4061-4065]
[FR Doc No: 2023-01114]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-96672; File No. SR-CBOE-2023-001]

Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Update
the Cboe Data Services, LLC Fee Schedule

January 17, 2023.
    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 January 3, 2023, Cboe Exchange, Inc. (the ``Exchange'' or
``Cboe Options'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I,
II, and III, below, which Items have been prepared by the Exchange. 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.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe Options'') proposes
to update the Cboe Data Services, LLC Fee Schedule. 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://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), 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 Exchange proposes to amend the Cboe Data Services, LLC
(``CDS'') Fee Schedule, effective January 3, 2023. The Exchange
proposes to modify its fees relating to the distribution of the BBO
data feed.\3\ Particularly, the Exchange proposes to modify the BBO
Data Fee and Display Only User Fee, eliminate a fee waiver for takers
of BBO Data, and adopt a BBO Enterprise Fee. The Exchange also proposes
to rename the ``BBO data feed'' to ``Cboe Options Top Data Feed'' (or
``Cboe Options Top Data''), and use the proposed name herein, in order
to align with the naming convention used by the Exchange's affiliated
options exchanges for similar data products.\4\
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    \3\ The BBO Data Feed is a real-time data feed that includes the
following information: (i) outstanding quotes and standing orders at
the best available price level on each side of the market; (ii)
executed trades time, size, and price; (iii) totals of customer
versus non-customer contracts at the best bid and offer (``BBO'');
(iv) all-or-none contingency orders priced better than or equal to
the BBO; (v) expected opening price and expected opening size; (vi)
end-of-day summaries by product, including open, high, low, and
closing price during the trading session; (vi) recap messages any
time there is a change in the open, high, low or last sale price of
a listed option; (vii) COB information; and (viii) product IDs and
codes for all listed options contracts. The quote and last sale data
contained in the BBO data feed is identical to the data sent to the
Options Price Reporting Authority (``OPRA'') for redistribution to
the public. This data feed is made available by the Exchange's
affiliate CDS.
    \4\ See Cboe BZX Options Fee Schedule and Cboe EDGX Options Fee
Schedule.
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    The Exchange first proposes to modify the current monthly Data Fee
for Cboe Options Top Data. Currently, the Exchange assesses a ``Data
Fee'', payable by a Customer, of $9,000 per month for internal use and
external redistribution of the Cboe Options Top Data Feed.\5\ The Data
Fee entitles a Customer to provide the Cboe Options Top Data to an
unlimited number of internal users and Devices \6\ within the Customer.
A Customer receiving the Cboe Options Top Data Feed from another
Customer or directly from the Exchange is assessed the Data Fee by the
Exchange pursuant to its own market data agreement with CDS and is
entitled to use the Data internally and/or distribute it externally.
All Customers have the same rights to utilize the data internally and/
or distribute it externally as long as the Customer has entered into a
written agreement with CDS for the data and pays the Data Fee. The
Exchange now proposes to adopt separate fees for internal and external
distribution (and codify the definitions of Internal and External
Distributors in the CDS Fee Schedule).\7\ Specifically, the Exchange
proposes to maintain the current monthly fee of $9,000 for internal
distribution but adopt a reduced fee of $5,000 per month for external
distribution.
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    \5\ A ``Customer'' is any person, company or other entity that,
pursuant to a market data agreement with CDS, is entitled to receive
data, either directly from CDS or through an authorized
redistributor (i.e., a Customer or an extranet service provider),
whether that data is distributed externally or used internally. A
third-party vendor of an Approved Third-Party Device, as defined in
the CDS Fee Schedule, is not a Customer unless it has a market data
agreement in place with CDS. A Floor Broker User, as defined in the
CDS Fee Schedule, is not a Customer unless it has a market data
agreement in place with CDS.
    \6\ A ``Device'' means any computer, workstation or other item
of equipment, fixed or portable, that receives, accesses and/or
displays data in visual, audible or other form.
    \7\ An Internal Distributor of an Exchange market data product
is a Distributor that receives the Exchange market data product and
then distributes that data to one or more Users within the
Distributor's own entity. An External Distributor of an Exchange
market data product is a Distributor that receives the Exchange
Market Data product and then distributes that data to a third party
or one or more Users outside the Distributor's own entity.
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    The Exchange next proposes to modify its current User Fees. The
Exchange currently charges a ``User Fee'', payable by a Customer, of
$50 per month per Device or user ID for use of the data in the Cboe
Options Top Data Feed by ``Display Only Service'' \8\ users. The
current User fee is payable only for ``external'' Display Only Service
users

(Devices or user IDs of Display Only Service users who are not
employees or natural person independent contractors of the Customer,
the Customer's affiliates, or an authorized service facilitator).\9\
The Exchange proposes to eliminate the current User fee (and
corresponding description (other than the definition of ``Device'') in
the Fee Schedule) and in its place adopt Professional and Non-
Professional User fees for Cboe Options Top Data. Particularly, the
Exchange proposes to charge Internal Distributors and External
Distributors that redistribute Cboe Options Top Data different fees for
their Professional Users \10\ and Non-Professional Users \11\ (and
codify the definitions in the CDS Fee Schedule). The Exchange proposes
to assess a monthly fee for Professional Users of $15.50 per User and a
monthly fee of $0.30 per Non-Professional User.\12\ The Exchange also
proposes to clarify in the CDS Fee Schedule that User fees for
Professional Users are payable for both ``internal'' Professional Users
(Devices or user IDs of employees of a Customer) and ``external''
Professional Users (Devices or user IDs of Professional Users who
receive the Data from a Customer and are not employed by the Customer),
as well as make clear that Non-Professional Users must be external
since a person who uses the Data for a commercial purpose cannot be a
Non-Professional User.
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    \8\ Display Only Service allows a natural person end-user to
view and manipulate data using the Customer's computerized service,
but not to save, copy, export or transfer the data or any results of
the manipulation to any other computer hardware, software or media,
except for printing it to paper or other non-magnetic media.
    \9\ Customers who distribute Cboe Options Top Data to external
users via a Display Only service must report to CDS the number of
authorized external devices that receive Cboe Options Top data from
the Customer during a calendar month within 15 days after such month
in the manner and format specified by CDS from time to time to
determine applicable fees.
    \10\ A ``Professional User'' is any natural person recipient of
Data who is not a Non-Professional User.
    \11\ A ``Non-Professional User'' is a natural person or
qualifying trust that uses Data only for personal purposes and not
for any commercial purpose and, for a natural person who works in
the United States, is not: (i) registered or qualified in any
capacity with the Securities and Exchange Commission, the
Commodities Futures Trading Commission, any state securities agency,
any securities exchange or association, or any commodities or
futures contract market or association; (ii) engaged as an
``investment adviser'' as that term is defined in Section 201(11) of
the Investment Advisors Act of 1940 (whether or not registered or
qualified under that Act); or (iii) employed by a bank or other
organization exempt from registration under federal or state
securities laws to perform functions that would require registration
or qualification if such functions were performed for an
organization not so exempt; or, for a natural person who works
outside of the United States, does not perform the same functions as
would disqualify such person as a Non-Professional User if he or she
worked in the United States. Professional User.
    \12\ Distributors that receive Cboe Options Top Data will be
required to count every Professional User and Non-Professional User
to which they provide the data feed.
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    Next, the Exchange proposes to eliminate a fee waiver for Customers
of Cboe Options Top Data. In particular, the CDS Fee Schedule currently
provides that the monthly data fee of $9,000 per month for the Book
Depth Data Feed \13\ is waived for Cboe Options Top Data Customers. The
Exchange proposes to eliminate the fee waiver for Book Depth Data for
External Distributors of Cboe Options Top (i.e., the monthly $9,000
data fee for Book Depth Data will only continue to be waived for
Internal Distributors of Cboe Options Top Data).
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    \13\ The Book Depth Data Feed is a real-time, low latency data
feed that includes all data contained in the Cboe Options Top Data
Feed (as described above) plus outstanding quotes and standing
orders for an additional four price levels on each side of the
market, with aggregate size (``Book Depth''). The data in the Book
Depth Data Feed is refreshed periodically during the trading
session.
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    The Exchange lastly proposes to establish a $300,000 per month
Enterprise Fee that will permit a recipient firm who receives Cboe
Options Top Data from a Distributor to receive the data for an
unlimited number of Professional and Non-Professional Users. The
Enterprise Fee is an alternative to User fees and will permit a
recipient firm who receives Cboe Options Top Data from a Distributor to
pay a flat fee to receive the data for an unlimited number of
Professional and Non-Professional Users, which the Exchange proposes to
make clear in the CDS Fee Schedule. The Enterprise Fee may provide a
recipient an opportunity to reduce their fees. For example, if a
recipient firm has 20,000 Professional Users who each receive EDGX
Options Top at $15.50 per month (as proposed), then that recipient firm
will pay $310,000 per month in Professional Users fees. If the
recipient firm instead were to purchase the proposed Enterprise
license, the recipient firm would alternatively pay a flat fee of
$300,000 for an unlimited number of Professional and Non-Professional
Users. A recipient firm must pay a separate Enterprise Fee for each
Distributor that controls the display of Cboe Options Top if it wishes
such User to be covered by an Enterprise Fee rather than by per User
fees. A recipient firm that pays the Enterprise Fee will not have to
report its number of such Users on a monthly basis. Rather, every six
months, the recipient firm must provide the Exchange with a count of
the total number of authorized users (both Professional and Non-
Professional Users) of Cboe Options Top Data. The Exchange notes that
the purchase of an Enterprise license is voluntary, and a firm may
elect to instead use the per User structure and benefit from the
proposed per User Fees described above. For example, a firm that does
not have a sufficient number of subscribers to benefit from purchase of
the license need not do so.
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. Additionally,
the Exchange believes the proposed rule change is consistent with
section 6(b)(4) of the Act,\16\ which requires that Exchange rules
provide for the equitable allocation of reasonable dues, fees, and
other charges among its Trading Permit Holders and other persons using
its facilities.
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    \14\ 15 U.S.C. 78f(b).
    \15\ 15 U.S.C. 78f(b)(5).
    \16\ 15 U.S.C. 78f(b)(4).
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    The Exchange first notes that it operates in a highly competitive
environment. Indeed, there are currently 16 registered options
exchanges that trade options. Based on publicly available information,
no single options exchange has more than 18% of the market share.\17\
The Exchange believes top-of-book quotation and transaction data is
highly competitive as national securities exchanges compete vigorously
with each other to provide efficient, reliable, and low-cost data to a
wide range of investors and market participants. Indeed, there are
several competing products offered by other national securities
exchanges today, not counting products offered by the Exchange's
affiliates, and each of the Exchange's affiliated U.S. options

exchanges also offers similar top-of-book data.\18\ Each of those
exchanges offer top-of-book quotation and last sale information based
on their own quotation and trading activity that is substantially
similar to the information provided by the Exchange through the Cboe
Options Top Feed. Further, the quote and last sale data contained in
the Cboe Options Data Feed is identical to the data sent to OPRA for
redistribution to the public, including data relating to the Exchange's
proprietary and exclusively listed products.\19\ Accordingly, market
participants can substitute Cboe Options Top Data with feeds from other
exchanges and/or through OPRA. Exchange top-of-book data is therefore
widely available today from a number of different sources.
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    \17\ See Cboe Global Markets U.S. Options Market Month-to-Date
Volume Summary (December 27, 2022), available at https://markets.cboe.com/us/options/market_statistics/.
    \18\ See e.g., NYSE Arca Options Proprietary Market Data Fees
Schedule, MIAX Options Exchange, Fee Schedule, Section 6 (Market
Data Fees), Nasdaq PHLX Options 7 Pricing Schedule, Section 10
(Proprietary Data Feed Fees) and C2 Options Exchange Fees Schedule,
Cboe Data Services, LLC Fees.
    \19\ The Exchange notes that CDS makes available to
``Customers'' the BBO data and last sale data that is included in
the Cboe Options Top Data Feed no earlier than the time at which the
Exchange sends that data to OPRA.
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    Moreover, the Cboe Options Top Data Feed is distributed and
purchased on a voluntary basis, in that neither the Exchange nor market
data distributors are required by any rule or regulation to make this
data available. Accordingly, Distributors and Users can discontinue use
at any time and for any reason, including due to an assessment of the
reasonableness of fees charged. As described above, market participants
have a wide variety of alternative market data products from which to
choose, such as similar proprietary data products offered by other
exchanges and consolidated data. Further, the Exchange is not required
to make any proprietary data products available or to offer any
specific pricing alternatives to any customers. Moreover, all broker-
dealers involved in order routing must take consolidated data from
OPRA, and proprietary data feeds cannot be used to meet that particular
requirement. As such, all proprietary data feeds are optional.
    The Commission has repeatedly expressed its preference for
competition over regulatory intervention in determining prices,
products, and services in the securities markets. Particularly, in
Regulation NMS, the Commission highlighted the importance of market
forces in determining prices and SRO revenues and, also, recognized
that current regulation of the market system ``has been remarkably
successful in promoting market competition in its broader forms that
are most important to investors and listed companies.'' \20\ Making
similar data products available to market participants fosters
competition in the marketplace, and constrains the ability of exchanges
to charge supracompetitive fees. In the event that a market participant
views one exchange's data product as more or less attractive than the
competition they can and do switch between similar products. The
proposed fees are a result of the competitive environment, as the
Exchange seeks to adopt fees to attract purchasers of Cboe Options Top
Data.
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    \20\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496, 37499 (June 29, 2005) (``Regulation NMS Adopting
Release'').
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    The Exchange believes the proposed External Distribution fee is
reasonable as it would represent a decreased fee for External
Distributors for top-of-book data that has proven valuable for
investors. By providing lower cost access to U.S. options market data,
Cboe Options Top benefits a wide range of investors that participate in
the national market system and makes it more broadly available. The
Exchange believes the proposed fees for external distribution of Cboe
Options Top will also continue to be allocated fairly and equitably
among subscribers, and are not unfairly discriminatory, as the proposed
fees will apply equally to all data recipients that choose to subscribe
to Cboe Options Top and distribute that data to external subscribers.
As proposed, all External Distributors of Cboe Options Top will be
subject to the same external distribution fee, regardless of the type
of business that they operate, or the use they plan to make of the data
feed. Thus, all External Distributors would have access to Cboe Options
Top on the same equitable and non-discriminatory terms.
    The Exchange believes that it is also fair and equitable, and not
unfairly discriminatory to charge different fees for internal and
external distribution of the Cboe Options Top. Although the proposed
distribution fee charged to External Distributors will be lower than
the existing distribution fee charged to Internal Distributors,
External Distributors are subject to Non-Professional user fees to
which Internal Distributors are not subject, in addition to
Professional User fees (or alternatively the proposed Enterprise Fee).
Furthermore, the proposal is designed to incentivize External
Distributors to subscribe to Cboe Options Top Data.
    The Exchange believes the proposed changes to adopt new
Professional and Non-Professional User fees are reasonable as the User
fees continue to be lower than User fees assessed by other exchanges
for similar data.\21\ Moreover, External Distributors will now be
subject to lower fees as the Exchange proposes to significantly reduce
the monthly User fees from $50 per External User to $15.50 per
Professional User or $0.30 per Non-Professional User. The Exchange
believes that the proposed fees are equitable and not unfairly
discriminatory because they will be charged uniformly to recipient
firms and Users. The fee structure of differentiated Professional and
Non-Professional fees that are paid by both Internal and External
Distributors has long been used by other exchanges, including the
Exchange, for their proprietary data products, and by the OPRA plan in
order to reduce the price of data to retail investors and make it more
broadly available.\22\ The Exchange also believes offering Cboe Options
Top Data to Non-Professional Users at a lower cost than Professional
Users results in greater equity among data recipients, as Professional
Users are categorized as such based on their employment and
participation in financial markets, and thus, are compensated to
participate in the markets. Although Non-Professional Users too can
receive significant financial benefits through their participation in
the markets, the Exchange believes it is reasonable to charge more to
those Users who are more directly engaged in the markets.
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    \21\ See e.g., Nasdaq PHLX Options 7 Pricing Schedule, Section
10 (Proprietary Data Feed Fees), which provides for a fee of $40 per
month to professional users and $1.00 per month to non-professional
users of Top of PHLX Options (TOPO) Data. See also NYSE American
Options Proprietary Market Data Fees schedule, which provides for a
fee of $50 per month to professional users and $1.00 per month to
non-professional users of American Options Top Data.
    \22\ See, e.g., Securities Exchange Act Release No. 59544 (March
9, 2009), 74 FR 11162 (March 16, 2009) (SR-NYSE-2008-131)
(establishing the $15 Non-Professional User Fee (Per User) for NYSE
OpenBook); See, e.g., Securities Exchange Act Release No. 67589
(August 2, 2012), 77 FR 47459 (August 8, 2012) (revising OPRA's
definition of the term ``Nonprofessional''); and See Securities
Exchange Act Release No. 70683 (October 15, 2013), 78 FR 62798
(October 22, 2013) (SR-CBOE-2013-087) (establishing Professional and
Non-Professional User fees for Cboe Options COB Data Feed).
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    The Exchange also believes eliminating the fee waiver of the data
fee for Book Depth Data Feed for External Distributors of Cboe Options
Top is equitable and reasonable because it has been available, without
change, since adopted in January 1, 2015 and the Exchange no longer
feels it necessary to incentivize further

redistribution of Book Depth Data Feed via the current fee waiver.\23\
Moreover, the Book Depth Data Feed is purely optional. Only those
Customers that deem the product to be of sufficient overall value and
usefulness would purchase it. Additionally, the Exchange is not
required to provide any such waiver to any Distributors of Cboe Options
Top Data. The Exchange believes the proposed change is equitable and
not unfairly discriminatory as it will apply uniformly to External
Distributors.
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    \23\ See Securities Exchange Act Release No. 70683 (October 15,
2013), 78 FR 62798 (October 22, 2013) (SR-CBOE-2013-087).
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    The proposed Enterprise Fee for Cboe Options Top Feed is equitable
and reasonable as the proposed fee could result in a fee reduction for
recipient firms with a large number of Professional and Non-
Professional Users. If a recipient firm has a smaller number of
Professional Users of Cboe Options Top Data, then it may continue using
the per User structure and benefit from the proposed per User Fee
reductions. By reducing prices for recipient firms with a large number
of Professional and Non-Professional Users, the Exchange believes that
more firms may choose to receive and to distribute Cboe Options Top
Data, thereby expanding the distribution of this market data for the
benefit of investors.
    The Exchange further believes that the proposed Enterprise Fee is
reasonable because it will simplify reporting for certain recipients
that have large numbers of Professional and Non-Professional Users.
Firms that pay the proposed Enterprise Fee will not have to report the
number of Users on a monthly basis as they currently do, but rather
will only have to count authorized users every six months, which is a
significant reduction in administrative burden. Finally, as described
above the Enterprise Fee is entirely optional. A firm that does not
have a sufficient number of subscribers to benefit from purchase of the
license need not do so.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change would
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act. The Exchange
operates in a highly competitive environment, and its ability to price
top-of-book data is constrained by competition among exchanges that
offer similar data products to their customers. Top-of-book data is
broadly disseminated by competing U.S. options exchanges and through
OPRA. There are therefore a number of alternative products available to
market participants and investors, including products offered by
certain competing exchanges. Further, the Exchange's proposal to
eliminate the waiver of Book Depth Data data fee for External
Distributors of Cboe Options Top Data involves no change to the
existing fees, but simply eliminates a waiver. Other exchanges are free
to adopt a similar waiver if they choose. In this competitive
environment potential subscribers are free to choose which competing
product to purchase to satisfy their need for market information.
Often, the choice comes down to price, as market data customers look to
purchase cheaper data products, and quality, as market participants
seek to purchase data that represents significant market liquidity.
    The Exchange believes that the proposed fees do not put any market
participants at a relative disadvantage compared to other market
participants. As discussed, the proposed fees and eliminated waiver
would apply to all similarly situated recipient firms of Cboe Options
Top on an equal and non-discriminatory basis. The Exchange believes the
reduced fees for External Distributors and not Internal Distributors of
Cboe Options Top is appropriate given External Distributors are subject
to the proposed Non-Professional user fees to which Internal
Distributors are not subject, in addition to the proposed Professional
User fees. The Exchange believes the differentiated fees for
Professional and Non-Professional Users of Cboe options Top is
appropriate given Professional Users are categorized as such based on
their employment and participation in financial markets, and thus, are
compensated to participate in the markets. Non-Professional Users too
can receive significant financial benefits through their participation
in the markets, however the Exchange believes it is reasonable to
charge more to those Users who are more directly engaged in the
markets. The Exchange therefore believes that the proposed fee neither
favors nor penalizes one or more categories of market participants in a
manner that would impose an undue burden on competition.
    The Exchange believes that the proposed fees do not impose a burden
on competition or on other SROs that is not necessary or appropriate in
furtherance of the purposes of the Act. In particular, market
participants are not forced to subscribe to Cboe Options Top Data, or
any of the Exchange's data feeds, as described above. Also as described
above, there are numerous substitute products offered by other national
securities exchanges, as well as OPRA. Because market data customers
can find suitable substitute feeds, an exchange that overprices its
market data products stands a high risk that users may substitute
another product. These competitive pressures ensure that no one
exchange's market data fees can impose an undue burden on competition,
and the Exchange's proposed fees do not do so here.

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

    The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any written comments from members or other interested parties.

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

    The foregoing rule change has become effective pursuant to section
19(b)(3)(A) of the Act \24\ and paragraph (f) of Rule 19b-4 \25\
thereunder. 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.
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    \24\ 15 U.S.C. 78s(b)(3)(A).
    \25\ 17 CFR 240.19b-4(f).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
File Number SR-CBOE-2023-001 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-CBOE-2023-001. 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 (http://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-CBOE-2023-001 and should be submitted on
or before February 13, 2023.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\26\
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    \26\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-01114 Filed 1-20-23; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 85, Number 82 (Tuesday, April 28, 2020)]
[Notices]
[Pages 23515-23516]
[FR Doc No: 2020-08911]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 6731-015]

Coneross Power Corporation; Notice of Application Accepted for
Filing, Soliciting Motions To Intervene and Protests, Ready for
Environmental Analysis, and Soliciting Comments, Terms and Conditions,
Recommendations, and Prescriptions

    Take notice that the following hydroelectric application has been
filed with the Commission and is available for public inspection.
    a. Type of Application: Subsequent Minor License.
    b. Project No.: 6731-015.
    c. Date filed: February 28, 2019.
    d. Applicant: Coneross Power Corporation.
    e. Name of Project: Coneross Hydroelectric Project.
    f. Location: The Coneross Hydroelectric Project is located on
Coneross Creek, in Oconee County, South Carolina. The project does not
occupy Federal lands.
    g. Filed Pursuant to: Federal Power Act 16 U.S.C. 791(a)-825(r)
    h. Applicant Contact: Mr. Kevin Webb, Hydro Licensing Manager, Enel
Green Power North America, Inc., 100 Brickstone Square, Suite 300,
Andover, MA 01810;<PHONE_NUMBER><EMAIL_ADDRESS>    i. FERC Contact: Jeanne Edwards,<PHONE_NUMBER>, or
<EMAIL_ADDRESS>    j. Deadline for filing motions to intervene and protest, comments,
terms and conditions, recommendations, and prescriptions: 60 days from
the issuance of this notice; reply comments are due 105 days from the
issuance date of this notice.
    The Commission strongly encourages electronic filing. Please file
motions to intervene and protests, comments, terms and conditions,
recommendations, and prescriptions using the Commission's eFiling
system at http://www.ferc.gov/docs-filing/efiling.asp. Commenters can
submit brief comments up to 6,000 characters, without prior
registration, using the eComment system at http://www.ferc.gov/docs-filing/ecomment.asp. You must include your name and contact information
at the end of your comments. For assistance, please contact FERC Online
Support at<EMAIL_ADDRESS>(866) 208-3676 (toll free), or
(202) 502-8659 (TTY).
    The Commission's Rules of Practice require all intervenors filing
documents with the Commission to serve a copy of that document on each
person on the official service list for the project. Further, if an
intervenor files comments or documents with the Commission relating to
the merits of an issue that may affect the responsibilities of a
particular resource agency, they must also serve a copy of the document
on that resource agency.
    k. This application has been accepted for filing and is now ready
for environmental analysis.
    l. The existing Coneross Project consists of: (1) An existing 288-
foot-long, 25-foot-high concrete dam with a 123-foot-long, 20-foot-wide
concrete spillway with 1.5-foot-high flashboards; (2) an existing nine-
acre reservoir having a gross storage capacity of 13.5 acre-feet at
elevation 746.5 feet mean sea level; (3) a 780-foot-long, 8-foot-
diameter concrete penstock with an 8-foot-wide and 8-foot-high intake
gate and a 25-foot-long, 19-foot-deep trash rack structure with 2.0-
inch clear bar spacing; (4) a powerhouse containing three generating
units (two Kaplan hydro turbines and one Francis hydro turbine) for a
total installed capacity of 889 kilowatts; (5) a 95-foot-long tailrace;
(6) a 1,300-foot-long bypassed reach between the dam and the tailrace;
(7); an existing 93-foot-long, 12.47-kilovolt transmission line; and
(8) appurtenant facilities. The average annual generation was 2,215,800
kilowatt-hours for the period 2008 to 2017.
    The Coneross Project is operated in a modified run-of-river mode
using automatic pond level control of the turbine-generator units to:
(1) Minimize fluctuations of the impoundment surface elevation; and (2)
maintain the impoundment elevation within 6 inches of the spillway
flashboard crest from March 1 through June 30, and within 18 inches of
the flashboard crest from July 1 through the end of February. The
project bypasses approximately 1,300 feet of Coneross Creek. A 36-cubic
feet per second (cfs) minimum flow is continuously released into
Coneross Creek downstream of the project tailrace. In addition, a
continuous minimum flow release of 35 cfs, or inflow, whichever is
less, is released into the Coneross bypassed reach from February 1 to
May 31, and 25 cfs, or inflow, whichever is less, is released to the
bypassed reach from June 1 to January 31. The bypassed reach minimum
flow is provided through a sluice gate in the west non-overflow section
of the dam.
    m. In addition to publishing the full text of this notice in the
Federal Register, the Commission provides all interested persons an
opportunity to view and/or print the contents of this notice, as well
as other documents in the proceeding (e.g., license application) via
the internet through the Commission's Home Page (http://www.ferc.gov)
using the eLibrary link. Enter the docket number (P-6731) to access the
document. At this time, the Commission has suspended access to the
Commission's Public Reference Room, due to the proclamation declaring a
National Emergency concerning the Novel Coronavirus Disease (COVID-19),
issued by the President on March 13, 2020. For assistance, contact FERC
at<EMAIL_ADDRESS>or call toll-free,<PHONE_NUMBER> or
(202) 502-8659 (TTY).
    You may also register online at http://www.ferc.gov/docs-filing/esubscription.asp to be notified via email of new filings and issuances
related to this or other pending projects. For assistance, contact FERC
Online Support.
    n. Anyone may submit comments, a protest, or a motion to intervene
in accordance with the requirements of Rules of Practice and Procedure,
18 CFR 385.210, .211, and .214. In determining the appropriate action
to take, the Commission will consider all protests or other comments
filed, but only those who file a motion to intervene in accordance with
the Commission's Rules may become a party to the proceeding. Any
comments, protests, or motions to intervene must be received on or
before the specified comment date for the particular application.
    All filings must: (1) Bear in all capital letters the title
PROTEST, MOTION TO INTERVENE, NOTICE OF INTENT TO FILE COMPETING
APPLICATION, COMPETING APPLICATION, COMMENTS, REPLY COMMENTS,
RECOMMENDATIONS, TERMS AND CONDITIONS, or PRESCRIPTIONS; (2) set forth
in the heading the name of the applicant and the project number of the
application to which the filing responds; (3) furnish the name,
address, and telephone number of the person protesting or intervening;
and (4) otherwise comply with the requirements of 18 CFR 385.2001
through 385.2005. All comments, recommendations, terms and conditions,
or prescriptions must set forth their evidentiary basis and otherwise
comply with the requirements of 18 CFR 4.34(b). Agencies may obtain
copies of the application directly from the applicant. A copy of any
protest or motion to intervene must be served upon each representative
of the applicant specified in the particular application. A copy of all
other filings in reference to this application must be

accompanied by proof of service on all persons listed in the service
list prepared by the Commission in this proceeding, in accordance with
18 CFR 4.34(b) and 385.2010.
    o. A license applicant must file no later than 60 days following
the date of issuance of this notice: (1) A copy of the water quality
certification; (2) a copy of the request for certification, including
proof of the date on which the certifying agency received the request;
or (3) evidence of waiver of water quality certification.
    p. Procedural schedule: The application will be processed according
to the following schedule. Revisions to the schedule will be made as
appropriate.

Commission issued EA--November 2020
Comments on EA--December 2020

    Dated: April 21, 2020.
 Kimberly D. Bose,
 Secretary.
[FR Doc. 2020-08911 Filed 4-27-20; 8:45 am]
 BILLING CODE 6717-01-P