[Federal Register Volume 83, Number 164 (Thursday, August 23, 2018)]
[Notices]
[Pages 42735-42737]
[FR Doc No: 2018-18157]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83869; File No. SR-BX-2018-038]

Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Codify the
Definitions of the Protocols To Enter Quotes and Orders

August 17, 2018.
    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 August 14, 2018, Nasdaq BX, Inc. (``BX'' or ``Exchange'') filed with
the Securities and Exchange Commission (``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

    The Exchange proposes to adopt new text at Chapter VI, Section 21
to codify the definitions of the protocols that Participants can use to
enter quotes and orders on the Exchange.
    The text of the proposed rule change is available on the Exchange's
website at http://nasdaqbx.cchwallstreet.com/, at the principal office
of the Exchange, 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 adopt new rule text at Chapter VI, Section
21 to codify the Financial Information eXchange (``FIX'') and
Specialized Quote Feed (``SQF'') protocols. The Exchange believes that
codifying definitions of these protocols in its rules will increase
transparency around its operations. The protocols used by Participants
to submit quotes and orders play an important role in the operation of
the System. The Exchange therefore believes that codifying definitions
of these protocols in its rules will increase transparency around its
operations. Furthermore, the proposed definitions will be harmonized
where appropriate with definitions to be included in the rules of the
Exchange's affiliated options markets,\3\ including by using consistent
terms to define the buckets of information transmitted, or the features
available, on each protocol.
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    \3\ See Securities Exchange Act Release Nos. 83729 (July 27,
2018) 83 FR 37870 (August 2, 2018) (SR-ISE-2018-65); 83731 (July 27,
2018), 83 FR 37867 (August 2, 2018) (SR-GEMX-2018-26); and 83730
(July 27, 2018), 83 FR 37873 (August 2, 2018) (SR-MRX-2018-25).
Nasdaq Phlx LLC was filed as SR-Phlx-2018-54. The Nasdaq Stock
Market LLC will submit a similar filing to amend The Nasdaq Options
Market LLC ports.
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    The Exchange proposes to title Section 21 as ``Order and Quote
Protocols'' and codify descriptions of the various protocols that
Participants may use to enter quotes and orders on BX. The Exchange
proposes to add a

new section (a) to Chapter VI, Section 21 entitled ``Entry and Display
of Orders and Quotes.'' The Exchange proposes to state in proposed new
Chapter VI, Section 21(a) ``Participants may enter orders and quotes
into the System as specified below.'' The Exchange proposes to add a
section Chapter VI, Section 21(a)(i) which provides, ``The Exchange
offers Participants the following protocols for entering orders and
quotes respectively.''

A. Financial Information eXchange Ports

    This protocol is not memorialized within the Exchange's Rulebook,
however rule changes describing FIX have been filed.\4\ The Exchange
proposes to codify a description of this protocol to add even greater
specificity within the Rulebook. The Exchange proposes to state that
FIX is an interface that allows Participants and their Sponsored
Customers to connect, send and receive messages related to orders and
auction orders and responses to and from the Exchange. Features include
the following: (1) Execution messages; (2) order messages; and (3) risk
protection triggers and cancel notifications.
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    \4\ See Securities Exchange Act Release No. 80055 (February 16,
2018), 82 FR 11381 (February 22, 2017) (SR-BX-2017-009). The FIX
port was previously referred to as the ``Order Entry Port'' and
described as a connection to routing orders to the Exchange via an
external order entry port. Participants access the Exchange's
network through order entry ports. A BX Options Market Participant
may have more than one order entry port. The Exchange recently
renamed the ``Order Entry Port'' as the ``FIX Port'' in the
Exchange's Pricing Schedule. See Securities Exchange Act Release No.
83192 (May 9, 2018), 83 FR 22563 (May 15, 2018) (SR-BX-2018-017).
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B. Specialized Quote Feed Ports

    This protocol is not memorialized within the Exchange's Rulebook,
however rule changes describing SQF have been filed.\5\ At this time,
the Exchange proposes to more specifically define the SQF Port. The
Exchange proposes the following definition:
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    \5\ See Securities Exchange Act Release No. 76952 (January 21,
2016), 81 FR 4721 (January 27, 2016) (SR-BX-2016-003). This rule
change generally described SQF as The SQF Port is a port that allows
a Participant acting as a BX Options Market Maker to enter his
markets into the BX Options markets. The SQF Port also allows a
Market Maker to access information such as execution reports and
other relevant data through a single feed. Market Makers rely on
data available through the SQF Port to provide them the necessary
information to perform market making activities in a swift and
meaningful way.

    SQF is an interface that allows Market Makers to connect, send,
and receive messages related to quotes, Immediate-or-Cancel Orders,
and auction responses into and from the Exchange. Features include
the following: (1) Options symbol directory messages (e.g underlying
instruments); (2) system event messages (e.g., start of trading
hours messages and start of opening); (3) trading action messages
(e.g., halts and resumes); (4) execution messages; (5) quote
messages; (6) Immediate-or-Cancel Order messages; (7) risk
protection triggers and purge notifications; (8) opening imbalance
messages; (9) auction notifications; and (10) auction responses. The
SQF Purge Interface only receives and notifies of purge request from
the Market Maker.\6\
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    \6\ All of the notification messages available on SQF ports as
described above (i.e., options symbol directory messages, system
event messages, trading action messages, etc.) are configurable in
that BX Market Makers can select the specific types of notifications
they wish to receive on their SQF ports. As such, SQF Purge
Interface ports are a subpart of SQF ports that have been configured
to only receive and notify of purge requests.

The Exchange believes that this information provides a more thorough
description of the SQF protocol.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\7\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\8\ in particular, in that it is designed to promote
just and equitable principles of trade and to protect investors and the
public interest by adding greater transparency to the order and quote
protocols available on BX.
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    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes that the proposed rule change is consistent
with the protection of investors and the public interest as it codifies
the protocols used to connect to the Exchange's System. While no
functional changes to the protocols are proposed in this filing, the
Exchange believes that including a description of the various order
entry protocols in its rulebook will benefit Participants by increasing
transparency around the operation of the Exchange. Furthermore, the
proposed descriptions of the order entry protocols in one rule will
more clearly and accurately reflect the information included on the
protocols, and will be harmonized with language to be included in the
rules of its affiliated exchanges to the extent that the protocols
operate in the same manner. The protocols described in this filing
provide a range of important features to Participants, including the
ability to submit quotes and orders, and perform other functions
necessary to manage trading on the Exchange. The Exchange believes
codifying the quote and order entry protocols will increase
transparency to the Participants that use these protocols to connect to
the Exchange.

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 not necessary or appropriate in
furtherance of the purposes of the Act. As explained above, the
Exchange is codifying the quote and order entry protocols that
Participants use to connect to the Exchange's System.
    The Exchange does not believe that codifying the order entry
protocols in the rulebook will have any competitive impact. Locating
all the descriptions within a single rule and adding context around
each order entry protocol will increase transparency around the
operation of the Exchange without having any impact on inter-market or
intra-market competition. All market participants have the ability to
subscribe to the protocols for order entry. The quoting protocols are
limited to the market participants who are permitted by rule to quote
on BX, but the function is uniformly available to these eligible
participants.

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

    No written comments were either solicited or received.

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)(iii) of the Act \9\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\10\
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    \9\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \10\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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    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: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) 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 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 protected]. Please include
File Number SR-BX-2018-038 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-BX-2018-038. 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-BX-2018-038 and should be submitted on
or before September 13, 2018.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-18157 Filed 8-22-18; 8:45 am]
 BILLING CODE 8011-01-P


Original TPC Table Footnotes a/ Canned & Preserved Seafood. One outlying value was dropped in calculating mean values. Development document categories were consolidated into shellfish plants, finfish plants, and plants processing both shellfish and finfish to better reflect actual plants.

b/ Inorganic chemicals. Iron is only found in the subcategories and was dropped to prevent skewing of results. Explosives are covered under inorganic chemical values due to difficulties in deriving realistic values.

c/ Organic Chemicals. Paint and ink plants covered by organic chemical values due to difficulties in deriving realistic values from the limited numbers of plants sampled and reported in the source documents.

d/ Adhesives & Sealants. Not currently regulated but permitted in some states; values based on Discharge Monitoring Reports for 10 plants.

e/ Concrete. Not currently regulated but permitted in some states, values based on Discharge Monitoring Reports for seven plants.

f/ Feedlots. FCB is assumed to be equal to the best practicable technology regulated level. The only feedlots that are direct discharges are wet duck farming, and values represent this activity.

g/ Fish Hatcheries. Includes cleaning waste stream and normal daily operations.

h/ Iron & Steel. Ferroalloys are covered under this category.

i/ Metal Finishing. This category is defined by EPA for 66 individual SIC categories: 2515, 2515, 2522, 2542, 3398, 3399, 3412, 3421, 3423, 3425, 3429, 3433, 3441, 3442, 3443, 3444, 3446, 3448, 3449, 3451, 3452, 3462, 3465, 3466, 3471, 3482, 3483, 3484, 3489, 3493, 3494, 3496, 3498, 3499, 3613, 3621, 3622, 3623, 3629, 3634 3636, 3643 48, 3651, 3662, 3673, 3675, 3678, 3693, 3694, 7531, 7692 7699.

j/ Miscellaneous Industrial Commercial. Assumed to represent small package treatment plants with discharge characteristics similar to secondary treatment: 111, 112, 115, 116, 119, 131, 132, 133, 134, 139, 161, 171, 172, 173, 174, 175, 179, 181, 182, 191, 273, 711, 721, 722, 723, 724, 741, 742, 751, 752, 761, 762, 781, 782, 783, 811, 831, 851, 912, 913, 919, 971, 1099, 1221, 1222, 1231, 1241, 1311, 1321, 1381, 1382, 1389, 1521, 1522, 1531, 1541, 1542, 1611, 1622, 1623, 1629, 1711, 1721, 1731, 1741, 1742, 1743, 1751, 1752, 1761, 1771, 1781, 1791, 1793, 1794, 1795, 1796, 1799, 2015, 2053, 2064, 2068, 2096, 2111, 2121, 2131, 2141, 2273, 2281, 2282, 2284, 2519, 2656, 2657, 2671, 2672, 2673, 2674, 2675, 2676, 2677, 2678, 2769, 2796, 2835, 2836, 3052, 3053, 3061, 3081, 3082, 3083, 3084, 3085, 3086, 3087, 3088, 3089, 3291, 3364, 3365, 3366, 3463, 3491, 3492, 3495, 3625, 3663, 3669, 3695, 3911, 3942, 3965, 3991, 2111, 4119, 4121, 4141, 4142, 4215, 4225, 4226, 4311, 4412, 4424, 4432, 4449, 4481, 4482, 4489, 4491, 4492, 4493, 4449, 4512, 4513, 4522, 4581, 4612, 4613, 4619, 4724, 4725, 4729, 4731, 4741, 4783, 4785, 4789, 4812, 4813, 4822, 4832, 4833, 4841, 4899, 4922, 4923, 4924, 4925, 4931, 4932, 4939, 4953, 4959, 4961, 4971 5011, 5012, 5013, 5014, 5015, 5021, 5023, 5031, 5032, 5033, 5039, 5043, 5044, 5045, 5046, 5047, 5048, 5049, 5051, 5052, 5063, 5064, 5065, 6074, 5075, 5078, 5082, 5083, 5084, 5085, 5087, 5088, 5091, 5092, 5093, 5094, 5099, 5111, 5112, 5113, 5122, 5131, 5136, 5137, 5139, 5141, 5143, 5145, 5147, 5149, 5153, 5162, 5169, 5171, 5172, 5181, 5182, 5191, 5192, 5193, 5194, 5198, 5199, 5211, 5231, 5251, 5261, 5271, 5311, 5399, 5411, 5421, 5431, 5441, 5451, 5461, 5499, 5511, 5521, 5531, 5541, 5551, 5561, 5571, 5599, 5611, 5621, 5632, 5641, 5651, 5661, 5699, 5712, 5713, 5714, 5719, 5722, 5731, 5734, 5735, 5736, 5812, 5813, 5912, 5921, 5932, 5941, 5942, 5943, 5944, 5945, 5946, 5947, 5948, 5949, 5961, 5962, 5963, 5983, 5984, 5989, 5992, 5993, 5994, 5995, 5999, 6011, 6019, 6021, 6022, 6029, 6035, 6036, 6061, 6062, 6081, 6082, 6091, 6099, 6111, 6112, 6141, 6153, 6159, 6162, 6163, 6211, 6221, 6231, 6282, 6289, 6311, 6324, 6331, 6351, 6361, 6371, 6399, 6411, 6512, 6517, 6519, 6531, 6541, 6552, 6553, 6712, 6719, 6722, 6726, 6732, 6733, 6792, 6794, 6798, 6799, 7221, 7231, 7241, 7251, 7261, 7291, 7299, 7311, 7312, 7313, 7319, 7322, 7323, 7331, 7334, 7335, 7336, 7338, 7342, 7349, 7352, 7353, 7359, 7361, 7363, 7371, 7372, 7373, 7374, 7375, 7376, 7377, 7378, 7378, 7381, 7382, 7383, 7384, 7389, 7513, 7514, 7515, 7519, 7521, 7532, 7533, 7536, 7537, 7538, 7539, 7549, 7622, 7623, 7629, 7631, 7641, 7812, 7819, 7822, 7829, 7832, 7833, 7841, 7911, 7922, 7929, 7933, 7941, 7948, 7991, 7992, 7993, 7996, 7997, 7999, 8011, 8021, 8031, 8041, 8042, 8043, 8049, 8051, 8052, 8059, 8071, 8072, 8082, 8092, 8093, 8099, 8111, 8211, 8221, 8222, 8231, 8243, 8244, 8249, 8299, 8322, 8331, 8351, 8361, 8399, 8412, 8422, 8611, 8621, 8631, 8641, 8651, 8661, 8699, 8711, 8712, 8713, 8721, 8731, 8732, 8733, 8734, 8742, 8743, 8744, 8748, 8999, 9111, 9121, 9131, 9199, 9211, 9221, 9222, 9223, 9224, 9229, 9311, 9411, 9431, 9441, 9451, 9511, 9512, 9531, 9532, 9611, 9621, 9631, 9641, 9651, 9661, 9711, 9721, 9999.

k/ Nonferrous Primary and Secondary. Subcategories are consolidated under primary and secondary category; based on flow weighted averages for current concentration levels from reference 1. A nitrogen value is not given for secondary nonferrous due to the wide range of concentration values given ( 3 3000 mg/ l) in the source document.

l/ Primary Zinc. Not regulated until 1984; values represent pretreatment levels as currently regulated.

m/ Meat Processing and Rendering. FCB was derived from the EPA Development Document. Note that there is no value for oil and grease because it is defined as petroleum hydrocarbons and not animal fats and oils.

n/ Steam Electric. Once through cooling concentrations represent values for saline waters and not freshwater.

New TPC Table Footnotes * Typical Facility Concentration from PCS.

^ Parameter Concentration from Industry Summary Sheet or other studies.


[Federal Register: July 8, 2009 (Volume 74, Number 129)]
[Notices]
[Page 32608-32609]
[DOCID:fr08jy09-61]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPP-2009-0143; FRL-8423-2]

FED Consulting, Inc.; Transfer of Data

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: This notice announces that pesticide related information
submitted to EPA's Office of Pesticide Programs (OPP) pursuant to the
Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) and the
Federal Food, Drug, and Cosmetic Act (FFDCA), including information
that may have been claimed as Confidential Business Information (CBI)
by the submitter, will be transferred to FED Consulting, Inc. in
accordance with 40 CFR 2.307(h)(3) and 2.308(i)(2). FED Consulting,
Inc. has been awarded multiple contracts to perform work for OPP, and
access to this information will enable FED Consulting, Inc. to fulfill
the obligations of the contract.

DATES: FED Consulting, Inc. will be given access to this information on
or before July 13, 2009.

FOR FURTHER INFORMATION CONTACT:  Felicia Croom, Information Technology
and Resources Management Division (7502P), Office of Pesticide
Programs, Environmental Protection Agency, 1200 Pennsylvania Ave., NW.,
Washington, DC 20460-0001; telephone number:<PHONE_NUMBER>; e-mail
address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. General Information

A. Does this Action Apply to Me?

    This action applies to the public in general. As such, the Agency
has not attempted to describe all the specific entities that may be
affected by this action. If you have any questions regarding the
applicability of this action to a particular entity, consult the person
listed under FOR FURTHER INFORMATION CONTACT.

B. How Can I Get Copies of this Document and Other Related Information?

    1. Docket. EPA has established a docket for this action under
docket identification (ID) number EPA-HQ-OPP-2009-0143. Publicly
available docket materials are available either in the electronic
docket at http://www.regulations.gov, or, if only available in hard
copy, at the Office of Pesticide Programs (OPP) Regulatory Public
Docket in Rm. S-4400, One Potomac Yard (South Bldg.), 2777 S. Crystal
Dr., Arlington, VA. The hours of operation of this Docket Facility are
from 8:30 a.m. to 4 p.m., Monday through Friday, excluding legal
holidays. The Docket Facility telephone number is<PHONE_NUMBER>.
    2. Electronic access. You may access this Federal Register document
electronically through the EPA Internet under the Federal Register
listings at http://www.epa.gov/fedrgstr.

II. Contractor Requirements

    Under these contract numbers, the contractor will perform the
following:
    Under Contract No. EP-W-08-053, FED Consulting, Inc. was acquired
to provide official records support and maintenance to the nine offices
within the Office of Enforcement Compliance and Assurance (OECA). This
maintenance includes inventory and retirement of records and the
development and revision of OECA's records guidance manual. OECA has a
wide range of specialized records which

include but are not limited to compliance and enforcement records, air
monitoring and forecasting records, investigations and surveillance of
environmental criminal records, and environmental and environmental
remediation records. OECA has general records which include, but are
not limited to: Publications; annual reports; Freedom of Information
Act and administrative records.
    This contract involves no subcontractors.
     The OPP has determined that the contract described in this
document involves work that is being conducted in connection with
FIFRA, in that pesticide chemicals will be the subject of certain
evaluations to be made under this contract. These evaluations may be
used in subsequent regulatory decisions under FIFRA.
    Some of this information may be entitled to confidential treatment.
The information has been submitted to EPA under sections 3, 4, 6, and 7
of FIFRA and under sections 408 and 409 of FFDCA.
    In accordance with the requirements of 40 CFR 2.307(h)(3), the
contract with FED Consulting, Inc., prohibits use of the information
for any purpose not specified in this contract; prohibits disclosure of
the information to a third party without prior written approval from
the Agency; and requires that each official and employee of the
contractor sign an agreement to protect the information from
unauthorized release and to handle it in accordance with the FIFRA
Information Security Manual. In addition, FED Consulting, Inc. is
required to submit, for EPA approval, a security plan under which any
CBI will be secured and protected against unauthorized release or
compromise. No information will be provided to FED Consulting, Inc.
until the requirements in this document have been fully satisfied.
Records of information provided to FED Consulting, Inc. will be
maintained by EPA Project Officers for this contract. All information
supplied to FED Consulting, Inc. by EPA for use in connection with this
contract will be returned to EPA when FED Consulting, Inc. has
completed its work.

List of Subjects

    Environmental protection, Business and industry, Government
contracts, Government property, Security measures.

    Dated: June 19, 2009.
Steven Bradbury,
Acting Director, Office of Pesticide Programs.
[FR Doc. E9-15935 Filed 7-7-09; 8:45 a.m.]

BILLING CODE 6560-50-S


[Federal Register Volume 84, Number 92 (Monday, May 13, 2019)]
[Notices]
[Pages 20917-20919]
[FR Doc No: 2019-09725]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-85799; File No. SR-CboeEDGA-2019-008)

Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change
Relating To Amend Rule 11.11 and Rule 11.16, as Well as Its Fee
Schedule, To Delete References to the SWPB Routing Option

May 7, 2019.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on April 25, 2019, Cboe EDGA Exchange, Inc. (the ``Exchange'' or
``EDGA'') 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 Substance
of the Proposed Rule Change

    Cboe EDGA Exchange, Inc. (the ``Exchange'' or ``EDGA'') proposes to
amend Rule 11.11 and Rule 11.16, as well as its Fee Schedule, to delete
references to the SWPB routing option. 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 Exchange proposes to amend Rule 11.11(g) (Routing Options) to
delete the SWPB routing option under subparagraph (g)(10), as well as
references to the SWPB routing option under Rule 11.16(e) (Limit Up-
Limit Down Mechanism). The Exchange also proposes to amend its fee
schedule to delete references to the SWPB routing options under fee
code SW and under footnote 3. The Exchange intends to implement the
proposed rule changes on May 1, 2019.
    Currently, Rule 11.11(g) provides for a variety of routing away
options under which the System \5\ will consider the quotations only of
accessible Trading Centers. The term ``System routing table'' refers to
the proprietary process for determining the specific trading venues to
which the System routes orders and the order in which it routes
them.\6\ Rule 11.13(g)(10) currently provides for SWPB as one of such
routing options. SWPB is a routing option under which an order checks
the System for available shares and then is sent to only Protected
Quotations and only for displayed size. To the extent that any portion
of the routed order is unexecuted, the remainder is posted to the EDGA
Book at the order's limit price, unless otherwise instructed by the
User.\7\ Also, if at the time of entry, there is an insufficient share
quantity in the SWPB order to fulfill the displayed size of all
Protected Quotations, then the entire SWPB order will be cancelled back
to the User immediately. Currently, Rule 11.16 provides for the
Regulation NMS Plan to Address Extraordinary Market Volatility (the
``Plan'') during a pilot period. Specifically, Rule 11.16(e)(5)(D)(ii)
provides a description of how the two current SWP routing strategies,
SWPA and SPWB, are handled in accordance with the Plan when an order to
buy utilizing an SWP routing strategy has a limit price that is greater
than the Upper Price Band or if a sell order utilizing an SWP routing
strategy has a limit price that is less than the Lower Price Band.
Additionally, current fee code SW is yielded on orders routed using
SWPA or SWPB routing strategies, except for removal of liquidity from
the New York Stock Exchange (``NYSE'').\8\ Current footnote 3 provides
that fee code D will be yielded on orders routed using SWPA or SWPB if
such strategy removes liquidity from NYSE.
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    \5\ The ``System'' is the Exchange's electronic communications
and trading facility designated by the Board through which
securities orders of Users are consolidated for ranking, execution
and, when applicable, routing away. See Exchange Rule 1.5(cc).
    \6\ The Exchange reserves the right to maintain a different
System routing table for different routing options and to modify the
System routing table at any time without notice. See Exchange Rule
11.11(g).
    \7\ The term ``User'' is defined as ``any Member or Sponsored
Participant who is authorized to obtain access to the System
pursuant to Rule 11.3.'' See Exchange Rule 1.5(ee).
    \8\ Orders that yield fee code SW receive a discounted fee of
$0.0031 per share at or above $1.00 and 0.30% of Dollar Value per
share below $1.00.
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    The Exchange has determined that because few Users elect the SWPB
routing option, which often experiences no usage for extended periods
of time, the current demand does not warrant the infrastructure and
ongoing maintenance expenses required to support these products.
Therefore, the Exchange now proposes to delete SWPB as a routing option
under Rule 11.11(g)(10) and references to the SWPB routing option under
Rule 11.16(e)(5)(D)(ii). The Exchange proposes to amend Rule 11.11(g)
formatting accordingly, changing the numbering of current subparagraphs
(g)(11) through (g)(16) to subparagraphs (g)(10) through (g)(15). The
Exchange also proposes to amend its fee schedule to delete references
to the SWPB routing option under fee code SW, as well as under footnote
3. The Exchange notes that Users seeking to route only to Protected
Quotations for displayed size may use the other SWP routing option,
SWPA.\9\
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    \9\ See Exchange Rule 11.11(g)(9).
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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.\10\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \11\ requirements that the rules of an exchange be
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. Additionally,
the Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \12\ requirement that the rules of an exchange not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
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    \10\ 15 U.S.C. 78f(b).
    \11\ 15 U.S.C. 78f(b)(5).
    \12\ Id.
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    In particular, The Exchange does not believe that this proposal
will permit unfair discrimination among customers, brokers, or dealers
because the SWPB routing options will no longer be available to all
Users. Also, the Exchange believes the proposed rule change to remove
references to SWPB will remove impediments to the mechanism of a free
and open market, thereby protecting investors and the public interest.
As stated, the Exchange noted that few Users elect the SWPB routing
option and has determined that the current demand does not warrant the
infrastructure and ongoing maintenance expense required to support
these products. Therefore, the Exchange is discontinuing this routing
option. The Exchange notes that routing through the Exchange is
voluntary and

Users are free to designate the alternative SWP routing option, SWPA,
currently offered by the Exchange.\13\ In addition, the SWPB routing
option is not a core product offering by the Exchange, nor is the
Exchange required by the Act to offer such a product. By removing
references to a routing option that will no longer be offered by the
Exchange, the Exchange believes the proposed rule change will remove
impediments to the mechanism of a free and open market and protect
investors by providing investors with increased transparency regarding
rules that reflect routing options currently available on the Exchange.
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    \13\ See supra note 9.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed rule change to
remove SWPB is not designed to address any competitive issues but
rather to increase transparency by eliminating the SWPB routing option
that is to be discontinued by the Exchange.

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

    The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \14\ and Rule 19b-4(f)(6) \15\ thereunder.
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)(iii) of the Act \16\ and Rule 19b-4(f)(6) \17\
thereunder.
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    \14\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \15\ 17 CFR 240.19b-4(f)(6).
    \16\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \17\ 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.
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    A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the date of the filing. However,
Rule 19b-4(f)(6)(iii) \18\ 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. In support of its
waiver request, the Exchange stated its belief that waiving the
operative delay would allow the Exchange to modify its rules in a
timely manner by eliminating rules that account for a service the
Exchange intends to discontinue on May 1, 2019. The Commission believes
that waiver of the operative delay is consistent with the protection of
investors and the public interest, and accordingly, the Commission
hereby waives the 30-day operative delay and designates the proposed
rule change operative upon filing.\19\
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    \18\ 17 CFR 240.19b-4(f)(6)(iii).
    \19\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission will institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-CboeEDGA-2019-008 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-2019-008.
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-CboeEDGA-2019-008 and should
be submitted on or before June 3, 2019.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
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    \20\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-09725 Filed 5-10-19; 8:45 am]
 BILLING CODE 8011-01-P