                                 ATTACHMENT B
       E-mails Sent for Consultation and List of Organizations Consulted
 List of Organizations Consulted
 Household and Commercial Products Association (HCPA)
 Chemical Users Coalition (CUC)
 Aerospace Industries Association (AIA)
 Society of Chemical Manufacturers and Affiliates (SOCMA)(did not respond)
 Earthjustice
 Environmental Defense Fund (EDF)

 Example E-mail Sent for Consultation
   To Whom It May Concern:
On August 5, 2019, the EPA published a request for comment in the Federal Register for the TSCA Existing Chemical Risk Evaluation and Management Generic ICRs for Interviews, Focus Groups, and Surveys.  The supporting statements and Federal Register notice for these ICRs are attached. Even though the comment period has closed, as part of the ICR consultation process we request comment on Generic ICRs from [Respondent].  We want to make sure that the Generic ICRs set up a structure under which we can obtain voluntary information from stakeholders to improve the quality of information used in risk evaluation and risk management under Section 6 of TSCA.  We are especially interested in comment from [Respondent] because the [Respondent] has commented on previous TSCA risk evaluations and we believe the perspective offered by [the Respondent's] members is an important voice that should be heard by the EPA when formulating chemical management policy.
During the comment period, there was only one substantive comment on the Generic ICR, from the American Chemistry Council (ACC).  That comment is attached.
Thanks,
Albert Monroe, J.D., Ph.D.
OCSPP/OPPT/CESSD/EPAB
Environmental Protection Agency
202.564.7116


[Federal Register Volume 78, Number 231 (Monday, December 2, 2013)]
[Notices]
[Pages 72142-72145]
[FR Doc No: 2013-28748]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

[Docket No FAA-2005-22842]

Notice of Opportunity To Participate; Criteria and Application
Procedures for Participation in the Military Airport Program

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Notice of criteria and application procedures.

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SUMMARY: This document announces the criteria, application procedures,
and schedule to be applied by the Secretary of Transportation in
designating or redesignating, and funding capital development for up to
15 current joint-use or former military airports seeking first time
designation or redesignation to participate in the MAP.

DATES: Applications must be received on or before January 31, 2014.

ADDRESSES: Submit an original and two copies of Standard Form (SF) 424,
``Application for Federal Assistance,'' prescribed by the Office of
Management and Budget Circular A-102, available at http://www.faa.gov/airports/resources/forms/media/aip_sf424_2010.pdf along with all
supporting and justifying documentation required by this notice.
Applicant should specifically request to be considered for designation
or redesignation to participate in the fiscal year 2014 MAP. Submission
should be sent to the Regional FAA Airports Division or Airports
District Office that serves the airport. Applicants may find the proper
office on the FAA Web site http://www.faa.gov/airports/news_information/contact_info/regional/ or may contact the office below.

FOR FURTHER INFORMATION CONTACT: Mr. Kendall Ball
(Kendall.Ball@faa.gov), Airports Financial Assistance Division (APP-
500), Office of Airport Planning and Programming, Federal Aviation
Administration (FAA), 800 Independence Avenue SW., Washington, DC
20591,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

General Description of the Program

    The MAP allows the Secretary to designate current joint-use or
former military airports to receive grants from the Airport Improvement
Program (AIP). The Secretary is authorized to designate an airport
(other than an airport designated before August 24, 1994) only if:
    (1) The airport is a former military installation closed or
realigned under the Title 10 U.S.C. Sec. 2687 (announcement of closures
of large Department of Defense installations after September 30, 1977),
or under Section 201 or 2905 of the Defense Authorization Amendments
and Base Closure and Realignment Acts; or
    (2) the airport is a military installation with both military and
civil aircraft operations.
    The Secretary shall consider for designation only those current
joint-use or former military airports, at least partly converted to
civilian airports as part of the national air transportation system,
that will reduce delays at airports with more than 20,000 hours of
annual delays in commercial passenger aircraft takeoffs and landings,
or will enhance airport and air traffic control system capacity in
metropolitan areas, or reduce current and projected flight delays (49
U.S.C. 47118(c)).
    The MAP provides capital development assistance to civil airport
sponsors of designated current joint-use military airfields or former
military airports that are included in the FAA's National Plan of
Integrated Airport Systems (NPIAS). Airports designated to the MAP may
be able to receive grant funds from a set-aside (currently four percent
of AIP discretionary funds) for airport development, including certain
projects not otherwise eligible for AIP assistance. These airports are
also eligible to receive grants from other categories of AIP funding.

Number of Airports

    A maximum of 15 airports per fiscal year may participate in the
MAP, of which 3 may be General Aviation (GA) airports. There are 8
slots available for designation or redesignation in FY 2014. There are
no GA slots available in FY 2014.

Term of Designation

    The maximum term is five fiscal years following designation. The
FAA can designate airports for a period of less than five years. The
FAA will evaluate the conversion needs of the airport in its capital
development plan to determine the appropriate length of designation.

Redesignation

    Previously designated airports may apply for redesignation of an
additional term not to exceed five years. Those airports must meet
current eligibility requirements in 49 U.S.C. 47118(a) at the beginning
of each grant period and have MAP eligible projects. The FAA will
evaluate applications for redesignation primarily in terms of warranted
projects fundable only under the MAP as these candidates tend to have
fewer conversion needs than new candidates. The FAA's goal is to
graduate MAP airports to regular AIP participation by successfully
converting these airports to civilian airport operations.

Eligible Projects

    In addition to eligible AIP projects, MAP can fund fuel farms,
utility systems, surface automobile parking lots, hangars, and air
cargo terminals up to 50,000 square feet. A designated or redesignated
military airport can receive not more than $7,000,000 each fiscal year
to construct, improve, and repair terminal building facilities. In
addition a designated or redesignated military airports can receive not
more than $7,000,000 each fiscal year for MAP eligible projects that
include hangars, cargo facilities, fuel farms, automobile surface
parking, and utility work.

Designation Considerations

    In making designations of new candidate airports, the Secretary of
Transportation may only designate an airport (other than an airport so

designated before August 24, 1994) if it meets the following general
requirements:
    (1) The airport is a former military installation closed or
realigned under:
    (A) Section 2687 of Title 10;
    (B) Section 201 of the Defense Authorization Amendments and Base
Closure and Realignment Act (BRAC) (10 U.S.C. 2687 note); or
    (C) Section 2905 of the Defense Base Closure and Realignment Act of
1990 (10 U.S.C. 2687 note); or
    (2) The airport is a military installation with both military and
civil aircraft operations; and
    (3) The airport is classified as a commercial service or reliever
airport in the NPIAS. (See 49 U.S.C. 47105(b)(2)). In addition, three
of the designated airports, if included in the NPIAS, may be a GA
airport that was a former military installation closed or realigned
under BRAC, as amended, or 10 U.S.C. 2687. (See 49 U.S.C. 47118(g)).
Therefore, a GA airport can only qualify under (1) above. ``General
aviation airport'' means a public airport that is located in a State
that, as determined by the Secretary: (A) Does not have scheduled
service; or (B) has scheduled service with less than 2,500 passenger
boardings each year. However, as noted under ``Number of Airports,''
there are no GA slots available in FY 2014.
    In designating new candidate airports, the Secretary shall consider
if a grant will:
    (1) Reduce delays at an airport with more than 20,000 hours of
annual delays in commercial passenger aircraft takeoffs and landings;
or
    (2) Enhance airport and air traffic control system capacity in a
metropolitan area or reduce current and projected flight delays.
    The application for new designations will be evaluated in terms of
how the proposed projects will contribute to reducing delays and/or how
the airport will enhance air traffic or airport system capacity and
provide adequate user services.

Project Evaluation

    Recently realigned or closed military airports, as well as active
military airfields with new joint-use agreements, have the greatest
need of funding to convert to, or to incorporate, civil airport
operations. Newly converted airports and new joint-use locations
frequently have minimal capital development resources and will
therefore receive priority consideration for designation and MAP
funding. The FAA will evaluate the need for eligible projects based
upon information in the candidate airport's five-year Capital
Improvement Plan (CIP).
    1. The FAA will evaluate candidate airports and/or the airports
such candidate airports will relieve based on the following specific
factors:
     Compatibility of airport roles and the ability of the
airport to provide an adequate airport facility;
     The capability of the candidate airport and its airside
and landside complex to serve aircraft that otherwise must use a
congested airport;
     Landside surface access;
     Airport operational capability, including peak hour and
annual capacities of the candidate airport;
     Potential of other metropolitan area airports to relieve
the congested airport;
     Ability to satisfy, relieve, or meet air cargo demand
within the metropolitan area;
     Forecasted aircraft and passenger levels, type of
commercial service anticipated, i.e., scheduled or charter commercial
service;
     Type and capacity of aircraft projected to serve the
airport and level of operations at the congested airport and the
candidate airport;
     The potential for the candidate airport to be served by
aircraft or users, including the airlines, serving the congested
airport;
     Ability to replace an existing commercial service or
reliever airport serving the area; and
     Any other documentation to support the FAA designation of
the candidate airport.
    2. The FAA will evaluate the extent to which development needs
funded through MAP will make the airport a viable civil airport that
will enhance system capacity or reduce delays.

Application Procedures and Required Documentation

    Airport sponsors applying for designation or redesignation must
complete and submit an SF 424, Application for Federal Assistance, and
provide supporting documentation to the appropriate FAA Airports
regional or district office serving that airport.

Standard Form 424

    Sponsors may obtain this fillable form at http://www.faa.gov/airports/resources/forms/media/aip_sf424_2010.pdf. Applicants should
fill this form out completely, including the following:
     Mark Item 1, Type of Submission as a ``pre-application''
and indicate it is for ``construction''.
     Mark item 8, Type of Application as ``new'', and in
``other'', fill in ``Military Airport Program''.
     Fill in Item 11, Descriptive Title of Applicant's Project.
``Designation (or redesignation) to the Military Airport Program''.
     In Item 15a, Estimated Funding, indicate the total amount
of funding requested from the MAP during the entire term for which you
are applying.

Supporting Documentation

    (A) Identification as a Current or Former Military Airport. The
application must identify the airport as either a current or former
military airport and indicate whether it was:
    (1) Closed or realigned under Section 201 of the Defense
Authorization Amendments and Base Closure and Realignment Act, and/or
Section 2905 of the Defense Base Closure and Realignment Act of 1990
(Installations Approved for Closure by the Defense Base Realignment and
Closure Commissions), or
    (2) Closed or realigned pursuant to 10 U.S.C. 2687 as excess
property (bases announced for closure by Department of Defense (DOD)
pursuant to this title after September 30, 1977 (this is the date of
announcement for closure)), or
    (3) A military installation with both military and civil aircraft
operations. A general aviation airport applying for the MAP may be
joint-use but must also qualify under (1) or (2) above.
    (B) Qualifications for MAP:
    Submit documents for (1) through (8) below:
    (1) Documentation that the airport meets the definition of a
``public airport'' as defined in 49 U.S.C. Sec. 47102(20).
    (2) Documentation indicating the required environmental review for
civil reuse or joint-use of the military airfield has been completed.
This environmental review need not include review of the individual
projects to be funded by the MAP. Rather, the documentation should
reflect that the environmental review necessary to convey the property,
enter into a long-term lease, or finalize a joint-use agreement has
been completed. The military department conveying or leasing the
property, or entering into a joint-use agreement, has the lead
responsibility for this environmental review. To meet AIP requirements
the environmental review and approvals must indicate that the operator
or owner of the airport has good title, satisfactory to the Secretary,
or assures to the FAA's satisfaction that good title will be acquired.
    (3) For a former military airport, documentation that the eligible
airport sponsor holds or will hold satisfactory title, a long-term
lease in furtherance of

conveyance of property for airport purposes, or a long-term interim
lease for 25 years or longer to the property on which the civil airport
is being located. Documentation that an application for surplus or BRAC
airport property has been accepted by the Federal Government is
sufficient to indicate the eligible airport sponsor holds or will hold
satisfactory title or a long-term lease.
    (4) For a current military airport, documentation that the airport
sponsor has an existing joint-use agreement with the military
department having jurisdiction over the airport. For all first time
applicants a copy of the existing joint-use agreement must be submitted
with the application. This is necessary so the FAA can legally issue
grants to the sponsor. Here and in (3) directly above, the airport must
possess the necessary property rights in order to accept a grant for
its proposed projects during FY 2014.
    (5) Documentation that the airport is classified as a ``commercial
service airport'' or a ``reliever airport'' as defined in 49 U.S.C.
47102(7) and 47102(23).
    (6) Documentation that the airport owner is an eligible airport
``sponsor'' as defined in 49 U.S.C. 47102(26).
    (7) Documentation that the airport has a five-year Capital
Improvement Plan (CIP) indicating all eligible grant projects requested
to be funded either from the MAP or other portions of the AIP and an
FAA approved Airport Layout Plan (ALP).
    (8) For commercial service airports a business/marketing plan or
equivalent must be submitted with the application. For relievers or
general aviation airports other planning documents may be submitted.
    (C) Evaluation Factors:
    Submit information on the items below to assist in our evaluation:
    (1) Information identifying the existing and potential levels of
visual or instrument operations and aeronautical activity at the
current or former military airport and, if applicable, the congested
airport. Also, if applicable, information on how the airport
contributes to air traffic system or airport system capacity. If served
by commercial air carriers, the revenue passenger and cargo levels
should be provided.
    (2) A description of the airport's projected civil role and
development needs for transitioning from use as a military airfield to
a civil airport. Include how development projects would serve to reduce
delays at an airport with more than 20,000 hours of annual delays in
commercial passenger aircraft takeoffs and landings; or enhance
capacity in a metropolitan area or reduce current and projected flight
delays.
    (3) A description of the existing airspace capacity. Describe how
anticipated new operations would affect the surrounding airspace and
air traffic flow patterns in the metropolitan area in or near the
airport. Include a discussion of whether operations at this airport
create airspace conflicts that may cause congestion or whether air
traffic works into the flow of other air traffic in the area.
    (4) A description of the airport's five-year CIP, including a
discussion of major projects, their priorities, projected schedule for
project accomplishment, and estimated costs. The CIP must specifically
identify the safety, capacity, and conversion related projects,
associated costs, and projected five-year schedule of project
construction, including those requested for consideration for MAP
funding.
    (5) A description of those projects that are consistent with the
role of the airport and effectively contribute to the joint-use or
conversion of the airfield to a civil airport. The projects can be
related to various improvement categories depending on what is needed
to convert from military to civil airport use, to meet required civil
airport standards, and/or to provide capacity to the airport and/or
airport system. The projects selected (e.g., safety-related,
conversion-related, and/or capacity-related), must be identified and
fully explained based on the airport's planned use. Those projects that
may be eligible under MAP, if needed for conversion or capacity-related
purposes, must be clearly indicated, and include the following
information:
Airside
     Modification of airport or military airfield for safety
purposes, including airport pavement modifications, marking, lighting,
strengthening, drainage or modifying other structures or features in
the airport environs to meet civil standards for approach, departure
and other protected airport surfaces as described in 14 CFR part 77 or
standards set forth in FAA Advisory Circular 150/5300-13.
     Construction of facilities or support facilities such as
passenger terminal gates, aprons for passenger terminals, taxiways to
new terminal facilities, aircraft parking, and cargo facilities to
accommodate civil use.
     Modification of airport or military utilities (electrical
distribution systems, communications lines, water, sewer, storm
drainage) to meet civil standards. Also, modifications that allow
utilities on the civil airport to operate independently, where other
portions of the base are conveyed to entities other than the airport
sponsor or retained by the Government.
     Purchase, rehabilitation, or modification of airport and
airport support facilities and equipment, including snow removal,
aircraft rescue, firefighting buildings and equipment, airport
security, lighting vaults, and reconfiguration or relocation of
eligible buildings for more efficient civil airport operations.
     Modification of airport or military airfield fuel systems
and fuel farms to accommodate civil aviation use.
     Acquisition of additional land for runway protection
zones, other approach protection, or airport development.
     Cargo facility requirements.
     Modifications, which will permit the airfield to
accommodate general aviation users.
Landside
     Construction of surface parking areas and access roads to
accommodate automobiles in the airport terminal and air cargo areas and
provide an adequate level of access to the airport.
     Construction or relocation of access roads to provide
efficient and convenient movement of vehicular traffic to, on, and from
the airport, including access to passenger, air cargo, fixed base
operations, and aircraft maintenance areas.
     Modification or construction of facilities such as
passenger terminals, surface automobile parking lots, hangars, air
cargo terminal buildings, and access roads to cargo facilities to
accommodate civil use.
    (6) An evaluation of the ability of surface transportation
facilities (e.g., road, rail, high-speed rail, and/or maritime) to
provide intermodal connections.
    (7) A description of the type and level of aviation and community
interest in the civil use of a current or former military airport.
    (8) One copy of the FAA-approved ALP for each copy of the
application. The ALP or supporting information should clearly show
capacity and conversion related projects. Other information such as
project costs, schedule, project justification, other maps and drawings
showing the project locations, and any other supporting documentation
that would make the application easier to understand should also be
included. You may also provide photos, which would further describe the
airport, projects, and otherwise clarify certain aspects of this

application. These maps and ALP's should be cross-referenced with the
project costs and project descriptions.

Redesignation of Airports Previously Designated and Applying for Up to
an Additional Five Years in the Program

    Airports applying for redesignation to the Military Airport Program
must submit the same information required by new candidate airports
applying for a new designation. On the SF 424, Application for Federal
Assistance, prescribed by the Office of Management and Budget Circular
A-102, airports must indicate their application is for redesignation to
the MAP. In addition to the information required for new candidates,
airports requesting redesignation must also explain:
    (1) Why a redesignation and additional MAP eligible project funding
is needed to accomplish the conversion to meet the civil role of the
airport and the preferred time period for redesignation not to exceed
five years;
    (2) Why funding of eligible work under other categories of AIP or
other sources of funding would not accomplish the development needs of
the airport; and
    (3) Why, based on the previously funded MAP projects, the projects
and/or funding level were insufficient to accomplish the airport
conversion needs and development goals.
    In addition to the information requested above, airports applying
for redesignation must provide a reanalysis of their original business/
marketing plans (for example, a plan previously funded by the Office of
Economic Adjustment or the original Master Plan for the airport) and
prepare a report. If there is not an existing business/marketing plan a
business/marketing plan or strategy must be developed. The report must
contain:
    (1) Whether the original business/marketing plan is still
appropriate;
    (2) Is the airport continuing to work towards the goals established
in the business/marketing plan;
    (3) Discuss how the MAP projects contained in the application
contribute to the goals of the sponsor and their plans; and
    (4) If the business/marketing plan no longer applies to the current
goals of the airport, how has the airport altered the business/
marketing plan to establish a new direction for the facility and how do
the projects contained in the MAP application aid in the completion of
the new direction and goals and by what date does the sponsor
anticipate graduating from the MAP.

This notice is issued pursuant to Title 49 U.S.C. 47118.

    Dated: Issued at Washington, DC, on November 22, 2013.
Mary Walsh,
Acting Director, Office of Airport Planning and Programming.
[FR Doc. 2013-28748 Filed 11-29-13; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 77, Number 198 (Friday, October 12, 2012)]
[Notices]
[Pages 62282-62283]
[FR Doc No: 2012-25130]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67996; File No. SR-Phlx-2012-118]

Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
Inbound Routing From an Affiliated Exchange

October 5, 2012.
    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 September 28, 2012, NASDAQ OMX PHLX LLC (the ``Phlx'' or
``Exchange'') 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
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.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange is filing a proposed rule change for the NASDAQ OMX
PSX facility of PHLX (``PSX'') to continue to accept inbound orders
routed by Nasdaq Execution Services LLC (``NES'') from the NASDAQ OMX
BX Equities Market of NASDAQ OMX BX, Inc. (``BX''), as described
further below, for an additional six month pilot period. The text of
the proposed rule change is available at http://nasdaqomxphlx.cchwallstreet.com, at Phlx's principal office, 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
    Currently, NES is the approved outbound routing facility of BX,
providing outbound routing to other market centers.\3\ PHLX and BX have
previously adopted rules to permit PSX to receive inbound routes of
certain orders by NES in its capacity as an order routing facility of
BX.\4\ The Exchange specifically has adopted a rule to prevent
potential informational advantages resulting from the affiliation
between PHLX and NES, as related to NES's authority to route certain
orders from BX.\5\ NES's authority to route these orders to BX is
subject to a pilot period ending October 6, 2012.\6\ The Exchange
hereby seeks to extend the previously approved pilot period (with the
attendant obligations and conditions) for an additional six months,
through March 30, 2013.
---------------------------------------------------------------------------

    \3\ BX Rule 4758(b).
    \4\ See Securities Exchange Act Release Nos. 65553 (October 13,
2011), 76 FR 64987 (October 19, 2011) (SR-Phlx-2011-138); and 65470
(October 3, 2011), 76 FR 62489 (October 7, 2011) (SR-BX-2011-048).
    \5\ See PHLX Rule 985(c)(2).
    \6\ See Securities Exchange Act Release No. 65553 (October 13,
2011), 76 FR 64987 (October 19, 2011) (SR-Phlx-2011-138).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\7\ in general, and with
Sections 6(b)(5) of the Act,\8\ in particular, in that the proposal is
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, because the proposed rule
change will allow the Exchange to continue to receive inbound routes of
orders from NES, acting in its capacity as a facility of BX, in a
manner consistent with prior approvals and established protections. The
Exchange believes that extending the previously approved pilot period
for six months is a sufficient length of time to permit both the
Exchange and the Commission to assess the impact of the Exchange's
authority to permit it to receive inbound routes of certain orders via
NES (including the attendant obligations and conditions).
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f.
    \8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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

    Phlx does not believe that the proposed rule change will result in
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act, as amended.

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

    Written comments were neither solicited nor received.

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

    Because the foregoing proposed rule change does not significantly
affect the protection of investors or the public interest, does not
impose any significant burden on competition, and, 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 \9\ and Rule 19b-
4(f)(6) thereunder.\10\
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires the Exchange to give the Commission written notice of the
Exchange's 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.
---------------------------------------------------------------------------

    The Exchange has requested that the Commission waive the 30-day
operative delay. The Commission believes that waiver of the 30-day
operative delay is consistent with the protection of investors and the
public interest because such waiver would allow the pilot period to be
extended without undue delay through March 30, 2013.\11\ Accordingly,
the Commission hereby grants the Exchange's request and designates the
proposal operative upon filing.\12\
---------------------------------------------------------------------------

    \11\ See SR-PHLX-2012-118, Item 7.
    \12\ For purposes only of waiving the 30-day operative delay,
the Commission has 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.

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_ADDRESS>Please
include File Number SR-Phlx-2012-118 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-Phlx-2012-118. 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 Web site (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 Web site 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; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-Phlx-2012-118 and should be
submitted on or before November 2, 2012.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-25130 Filed 10-11-12; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 85, Number 82 (Tuesday, April 28, 2020)]
[Notices]
[Pages 23560-23564]
[FR Doc No: 2020-08938]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-88727; File No. SR-CboeEDGA-2020-012]

Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To
Provide Members Certain Optional Risk Settings Under Proposed
Interpretation and Policy .03 of Rule 11.10

April 22, 2020.
    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 April 16, 2020, Cboe EDGA Exchange, Inc. (the ``Exchange'')
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 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.
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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 the
Substance of the Proposed Rule Change

    Cboe EDGA Exchange, Inc. (``EDGA'' or the ``Exchange'') proposes to
provide Members certain optional risk settings under proposed
Interpretation and Policy .03 of Rule 11.10. 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/equities/regulation/rule_filings/edga/), 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 purpose of the proposed rule change is to provide Members \5\
the option to utilize certain risk settings under proposed
Interpretation and Policy .03 of Rule 11.10.\6\ In order to help
Members manage their risk, the Exchange proposes to offer optional risk
settings that would authorize the Exchange to take automated action if
a designated limit for a Member is breached. Such risk settings would
provide Members with enhanced abilities to manage their risk with
respect to orders on the Exchange. Paragraph (a) of proposed
Interpretation and Policy .03 of Rule 11.10 sets forth the specific
risk controls the Exchange proposes to offer. Specifically, the
Exchange proposes to offer two credit risk settings as follows:
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    \5\ See Exchange Rule 1.5(n).
    \6\ The proposed rule changes are substantially similar to a
recent rule amendment by Cboe BZX Exchange, Inc. (``BZX''). See
Securities Exchange Act No. 88599 (April 8, 2020) 85 FR 20793 (April
14, 2020) (the ``BZX Approval'').
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     The ``Gross Credit Risk Limit'', which refers to a pre-
established maximum daily dollar amount for purchases and sales across
all symbols, where both purchases and sales are counted as positive
values. For purposes of calculating the Gross Credit Risk Limit, only
executed orders are included; and
     The ``Net Credit Risk Limit'', which refers to a pre-
established maximum daily dollar amount for purchases and sales across
all symbols, where purchases are counted as positive values and sales
are counted as negative values. For purposes of calculating the Net
Credit Risk Limit, only executed orders are included.
    The Gross Credit and Net Credit risk settings are similar to credit
controls measuring both gross and net exposure provided for in
paragraph (h) of Interpretation and Policy .01 of Rule 11.10, but with
certain notable differences. Importantly, the proposed risk settings
would be applied at a Market Participant Identifier (``MPID'') level,
while the controls noted in paragraph (h) of Interpretation and Policy
.01 are applied at the logical port level.\7\ Therefore, the proposed
risk management functionality would allow a Member to manage its risk
more comprehensively, instead of relying on the more limited port level
functionality offered today. Further, the proposed risk settings would
be based on a notional execution value, while the controls noted in
paragraph (h) of Interpretation and Policy .03 are applied based on a
combination of outstanding orders on the Exchange's book and notional
execution value. The Exchange notes that the current gross and net
notional controls noted in paragraph (h) of Interpretation and Policy
.03 will continue to be available in addition to the proposed risk
settings.
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    \7\ A logical port represents a port established by the Exchange
within the Exchange's System for trading and billing purposes. Each
logical port established is specific to a Member or non-Member and
grants that Member or non-Member the ability to accomplish a
specific function, such as order entry, order cancellation, or data
receipt.
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    Paragraph (c) of proposed Interpretation and Policy .03 of Rule
11.10 provides that a Member that does not self-clear may allocate and
revoke \8\ the responsibility of establishing and adjusting the risk
settings identified in proposed paragraph (a) to a Clearing Member that
clears transactions on behalf of the Member, if designated in a manner
prescribed by the Exchange. The Exchange proposes to harmonize Exchange
Rule 11.13(a) with BZX and Cboe BYX Exchange, Inc. (``BYX'') Rules
11.15(a). Specifically, in proposed Rule 11.13(a), the Exchange
proposes to (i) define the term ``Clearing Member''; \9\ (ii)
memorialize in its rules the process by which a Clearing Member shall
affirm its responsibility for clearing any and all trades executed by
the Member designating it as its Clearing Firm; and (iii) memorialize
the fact that the rules of a Qualified Clearing Agency shall govern
with respect to the clearance and settlement of any transactions
executed by the Member on the Exchange. While the foregoing proposed
changes to Rule

11.13(a) were not previously memorialized in Exchange Rules, they were
contemplated in Exhibit F of the Exchange's original Form 1
application.\10\ As such, the proposed changes to Rule 11.13(a) involve
no substantive changes.
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    \8\ As discussed below, if a Member revokes the responsibility
of establishing and adjusting the risk settings identified in
proposed paragraph (a), the settings applied by the Member would be
applicable.
    \9\ As proposed, the term ``Clearing Member'' refers to a Member
that is a member of a Qualified Clearing Agency and clears
transactions on behalf of another Member. See proposed Rule
11.13(a).
    \10\ Specifically, see item 3 entitled ``Clearing Letter of
Guarantee'' included in Exhibit F of the Exchange's original Form 1
application.
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    By way of background, Exchange Rule 11.13(a) requires that all
transactions passing through the facilities of the Exchange shall be
cleared and settled through a Qualified Clearing Agency using a
continuous net settlement system.\11\ As reflected in the proposed
changes to Rule 11.13(a) above, this requirement may be satisfied by
direct participation, use of direct clearing services, or by entry into
a corresponding clearing arrangement with another Member that clears
through a Qualified Clearing Agency (i.e., a Clearing Member). If a
Member clears transactions through another Member that is a Clearing
Member, such Clearing Member shall affirm to the Exchange in writing,
through letter of authorization, letter of guarantee or other agreement
acceptable to the Exchange, its agreement to assume responsibility for
clearing and settling any and all trades executed by the Member
designating it as its clearing firm.\12\ Thus, while not all Members
are Clearing Members, all Members are required to either clear their
own transactions or to have in place a relationship with a Clearing
Member that has agreed to clear transactions on their behalf in order
to conduct business on the Exchange. Therefore, the Clearing Member
that guarantees the Member's transactions on the Exchange has a
financial interest in the risk settings utilized within the System \13\
by the Member.
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    \11\ The term ``Qualified Clearing Agency'' means a clearing
agency registered with the Commission pursuant to Section 17A of the
Act that is deemed qualified by the Exchange. See Exchange Rule
1.5(w). The rules of any such clearing agency shall govern with the
respect to the clearance and settlement of any transactions executed
by the Member on the Exchange.
    \12\ A Member can designate one Clearing Member per Market
Participant Identifier (``MPID'') associated with the Member.
    \13\ System is defined as ``the electronic communications and
trading facility designated by the Board through which securities
orders of Members are consolidated for ranking, execution and, when
applicable, routing away.'' See Exchange Rule 1.5(cc).
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    Paragraph (c) is proposed by the Exchange in order to offer
Clearing Members an opportunity to manage their risk of clearing on
behalf of other Members, if authorized to do so by the Member trading
on the Exchange. Specifically, the Exchange believes such functionality
would help Clearing Members to better monitor and manage the potential
risks that they assume when clearing for Members of the Exchange. A
Member may allocate or revoke the responsibility of establishing and
adjusting the risk settings identified in proposed paragraph (a) to its
Clearing Member via the risk management tool available on the web
portal at any time. By allocating such responsibility, a Member would
thereby cede all control and ability to establish and adjust such risk
settings to its Clearing Member unless and until such responsibility is
revoked by the Member, as discussed in further detail below. Because
the Member is responsible for its own trading activity, the Exchange
will not provide a Clearing Member authorization to establish and
adjust risk settings on behalf of a Member without first receiving
consent from the Member. The Exchange would consider a Member to have
provided such consent if it allocates the responsibility to establish
and adjust risk settings to its Clearing Member via the risk management
tool available on the web portal. By allocating such responsibilities
to its Clearing Member, the Member consents to the Exchange taking
action, as set forth in proposed paragraph (d) of Interpretation and
Policy .03, with respect to the Member's trading activity.
Specifically, if the risk setting(s) established by the Clearing Member
are breached, the Member consents that the Exchange will automatically
block new orders submitted and cancel open orders until such time that
the applicable risk setting is adjusted to a higher limit by the
Clearing Member. A Member may also revoke responsibility allocated to
its Clearing Member pursuant to this paragraph at any time via the risk
management tool available on the web portal.
    Paragraph (b) of proposed Interpretation and Policy .03 of Rule
11.10 provides that either a Member or its Clearing Member, if
allocated such responsibility pursuant to paragraph (c) of the proposed
Interpretation and Policy, may establish and adjust limits for the risk
settings provided in proposed paragraph (a) of Interpretation and
Policy .03. A Member or Clearing Member may establish and adjust limits
for the risk settings through the Exchange's risk management tool
available on the web portal. The risk management web portal page will
also provide a view of all applicable limits for each Member, which
will be made available to the Member and its Clearing Member, as
discussed in further detail below.
    Proposed paragraph (d) of Interpretation and Policy .03 of Rule
11.10 would provide optional alerts to signal when a Member is
approaching its designated limit. If enabled, the alerts would generate
when the Member breaches certain percentage thresholds of its
designated risk limit, as determined by the Exchange. Based on current
industry standards, the Exchange anticipates initially setting these
thresholds at fifty, seventy, or ninety percent of the designated risk
limit. Both the Member and Clearing Member \14\ would have the option
to enable the alerts via the risk management tool on the web portal and
designate email recipients of the notification.\15\ The proposed alert
system is meant to warn a Member and Clearing Member of the Member's
trading activity, and will have no impact on the Member's order and
trade activity if a warning percentage is breached. Proposed paragraph
(e) of Interpretation and Policy .03 of Rule 11.10 would authorize the
Exchange to automatically block new orders submitted and cancel all
open orders in the event that a risk setting is breached. The Exchange
will continue to block new orders submitted until the Member or
Clearing Member, if allocated such responsibility pursuant to paragraph
(c) of proposed Interpretation and Policy .03, adjusts the risk
settings to a higher threshold. The proposed functionality is designed
to assist Members and Clearing Members in the management of, and risk
control over, their credit risk. Further, the proposed functionality
would allow the Member to seamlessly avoid unintended executions that
exceed their stated risk tolerance.
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    \14\ A Clearing Member would have the ability to enable alerts
regardless of whether it was allocated responsibilities pursuant to
proposed paragraph (c).
    \15\ The Member and Clearing Member may input any email address
for which an alert will be sent via the risk management tool on the
web portal.
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    The Exchange does not guarantee that the proposed risk settings
described in proposed Interpretation and Policy .03, are sufficiently
comprehensive to meet all of a Member's risk management needs. Pursuant
to Rule 15c3-5 under the Act,\16\ a broker-dealer with market access
must perform appropriate due diligence to assure that controls are
reasonably designed to be effective, and otherwise consistent with the
rule.\17\

Use of the Exchange's risk settings included in proposed Interpretation
and Policy .03 will not automatically constitute compliance with
Exchange or federal rules and responsibility for compliance with all
Exchange and SEC rules remains with the Member.
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    \16\ 17 CFR 240.15c3-5.
    \17\ See Division of Trading and Markets, Responses to
Frequently Asked Questions Concerning Risk Management Controls for
Brokers or Dealers with Market Access, available at https://www.sec.gov/divisions/marketreg/faq-15c-5-risk-management-controls-bd.htm.
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    Lastly, as the Exchange currently has the authority to share any of
a Member's risk settings specified in Interpretation and Policy .01 of
Rule 11.10 under Exchange Rule 11.13(f) with the Clearing Member that
clears transactions on behalf of the Member, the Exchange also seeks
such authority as it pertains to risk settings specified in proposed
Interpretation and Policy .03. Existing Rule 11.13(f) provides the
Exchange with authority to directly provide Clearing Members that clear
transactions on behalf of a Member, to share any of the Member's risk
settings set forth under Interpretation and Policy .01 to Rule
11.10.\18\ The purpose of such a provision under Rule 11.13(f) was
implemented in order to reduce the administrative burden on
participants on the Exchange, including both Clearing Members and
Members, and to ensure that Clearing Members receive information that
is up to date and conforms to the settings active in the System.
Further, the provision was implemented because the Exchange believed
such functionality would help Clearing Members to better monitor and
manage the potential risks that they assume when clearing for Members
of the Exchange. Now, the Exchange also proposes to amend paragraph (f)
of Exchange Rule 11.13 to authorize the Exchange to share any of a
Member's risk settings specified in proposed Interpretation and Policy
.03 to Rule 11.10 with the Clearing Member that clears transactions on
behalf of the Member and to update the term clearing firm to the
proposed defined term Clearing Member. The Exchange notes that the use
by a Member of the risk settings offered by the Exchange is optional.
By using these proposed optional risk settings, a Member therefore also
opts-in to the Exchange sharing its designated risk settings with its
Clearing Member. The Exchange believes that its proposal to offer
additional risk settings will allow Members to better manage their
credit risk. Further, by allowing Members to allocate the
responsibility for establishing and adjusting such risk settings to its
Clearing Member, the Exchange believes Clearing Members may reduce
potential risks that they assume when clearing for Members of the
Exchange. The Exchange also believes that its proposal to share a
Member's risk settings set forth under proposed Interpretation and
Policy .03 to Rule 11.10 directly with Clearing Members reduces the
administrative burden on participants on the Exchange, including both
Clearing Members and Members, and ensures that Clearing Members are
receiving information that is up to date and conforms to the settings
active in the System.
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    \18\ By using the optional risk settings provided in
Interpretation and Policy .01, a Member opts-in to the Exchange
sharing its risk settings with its Clearing Member. Any Member that
does not wish to share such risk settings with its Clearing Member
can avoid sharing such settings by becoming a Clearing Member. See
Securities Exchange Act Release No. 80608 (May 5, 2017) 82 FR 22030
(May 11, 2017) (SR-BatsEDGA-2017-07).
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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.\19\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \20\ 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.
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    \19\ 15 U.S.C. 78f(b).
    \20\ 15 U.S.C. 78f(b)(5).
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    Specifically, the Exchange believes the proposed amendment will
remove impediments to and perfect the mechanism of a free and open
market and a national market system because it provides additional
functionality for a Member to manage its credit risk. In addition, the
proposed risk settings could provide Clearing Members, who have assumed
certain risks of Members, greater control over risk tolerance and
exposure on behalf of their correspondent Members, if allocated
responsibility pursuant to proposed paragraph (c), while also providing
an alert system that would help to ensure that both Members and its
Clearing Member are aware of developing issues. As such, the Exchange
believes that the proposed risk settings would provide a means to
address potentially market-impacting events, helping to ensure the
proper functioning of the market.
    In addition, the Exchange believes that the proposed rule change is
designed to protect investors and the public interest because the
proposed functionality is a form of risk mitigation that will aid
Members and Clearing Members in minimizing their financial exposure and
reduce the potential for disruptive, market-wide events. In turn, the
introduction of such risk management functionality could enhance the
integrity of trading on the securities markets and help to assure the
stability of the financial system.
    Further, the Exchange believes that the proposed rule will foster
cooperation and coordination with persons facilitating transactions in
securities because the Exchange will provide alerts when a Member's
trading activity reaches certain thresholds, which will be available to
both the Member and Clearing Member. As such, the Exchange may help
Clearing Members monitor the risk levels of correspondent Members and
provide tools for Clearing Members, if allocated such responsibility,
to take action.
    The proposal will permit Clearing Members who have a financial
interest in the risk settings of Members to better monitor and manage
the potential risks assumed by Clearing Members, thereby providing
Clearing Members with greater control and flexibility over setting
their own risk tolerance and exposure. To the extent a Clearing Member
might reasonably require a Member to provide access to its risk
settings as a prerequisite to continuing to clear trades on the
Member's behalf, the Exchange's proposal to share those risk settings
directly reduces the administrative burden on participants on the
Exchange, including both Clearing Members and Members. Moreover,
providing Clearing Members with the ability to see the risk settings
established for Members for which they clear will foster efficiencies
in the market and remove impediments to and perfect the mechanism of a
free and open market and a national market system. The proposal also
ensures that Clearing Members are receiving information that is up to
date and conforms to the settings active in the System. The Exchange
believes that the proposal is consistent with the Act, particularly
Section 6(b)(5),\21\ because it will foster cooperation and
coordination with persons engaged in facilitating transactions in
securities and more generally, will protect investors and the public
interest, by allowing Clearing

Members to better monitor their risk exposure and by fostering
efficiencies in the market and removing impediments to and perfect the
mechanism of a free and open market and a national market system.
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    \21\ 15 U.S.C. 78f(b)(5).
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    Finally, the Exchange believes that the proposed rule change does
not unfairly discriminate among the Exchange's Members because use of
the risk settings is optional and are not a prerequisite for
participation on the Exchange. The proposed risk settings are
completely voluntary and, as they relate solely to optional risk
management functionality, no Member is required or under any regulatory
obligation to utilize them.
    The proposed amendments to Rule 11.13(a) will harmonize Exchange
Rules with BZX and BYX Rules 11.15(a). While the proposed changes to
Rule 11.13(a) were not previously memorialized in Exchange Rules, they
were contemplated in Exhibit F of the Exchange's original Form 1
application. As such, the proposed changes to Rule 11.13(a) involve no
substantive changes.

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. In fact, the Exchange
believes that the proposal may have a positive effect on competition
because it would allow the Exchange to offer risk management
functionality that is comparable to functionality that has been adopted
by other national securities exchanges.\22\ Further, by providing
Members and their Clearing Members additional means to monitor and
control risk, the proposed rule may increase confidence in the proper
functioning of the markets and contribute to additional competition
among trading venues and broker-dealers. Rather than impede
competition, the proposal is designed to facilitate more robust risk
management by Members and Clearing Members, which, in turn, could
enhance the integrity of trading on the securities markets and help to
assure the stability of the financial system.
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    \22\ Supra note 6.
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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

    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 \23\ and Rule 19b-
4(f)(6) thereunder.\24\
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    \23\ 15 U.S.C. 78s(b)(3)(A).
    \24\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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    A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \25\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \26\ permits the
Commission to designate a shorter time if such action is consistent
with the protection of investors and the public interest. The Exchange
has asked the Commission to waive the 30-day operative delay so that
the Exchange may implement the proposed risk controls on the
anticipated launch date of April 17, 2020. The Exchange states that
waiver of the operative delay would allow Members to immediately
utilize the proposed functionality to manage their risk. For this
reason, the Commission believes that waiver of the 30-day operative
delay is consistent with the protection of investors and the public
interest. Therefore, the Commission hereby waives the operative delay
and designates the proposal as operative upon filing.\27\
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    \25\ 17 CFR 240.19b-4(f)(6).
    \26\ 17 CFR 240.19b-4(f)(6)(iii).
    \27\ For purposes only of waiving the 30-day operative delay,
the Commission also has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-CboeEDGA-2020-012 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-CboeEDGA-2020-012. 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 (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 such 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-CboeEDGA-2020-012, and should be
submitted on or before May 19, 2020.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\28\
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    \28\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-08938 Filed 4-27-20; 8:45 am]
 BILLING CODE 8011-01-P