30 Day Notice

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Federal Register / Vol. 84, No. 223 / Tuesday, November 19, 2019 / Notices

competition. As a small exchange in the
already highly competitive environment
for options trading, the Exchange does
not have the market power necessary to
set prices for services that are
unreasonable or unfairly discriminatory
in violation of the Exchange Act. The
Exchange’s proposed fees, as described
herein, are comparable to and generally
lower than fees charged by other options
exchanges for the same or similar
services. Lastly, the Exchange believes
the proposed change will not impose a
burden on intramarket competition as
the proposed fees are applicable to all
Participants and others using its
facilities that connect to BOX.
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
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Exchange Act 53
and Rule 19b–4(f)(2) thereunder,54
because it establishes or changes a due,
or fee.
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend the rule change if
it appears to the Commission that the
action is necessary or appropriate in the
public interest, for the protection of
investors, or would otherwise further
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:

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Electronic Comments
• Use the Commission’s internet
comment form (http://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
BOX–2019–32 on the subject line.
53 15
54 17

U.S.C. 78s(b)(3)(A)(ii).
CFR 240.19b–4(f)(2).

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16:47 Nov 18, 2019

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–BOX–2019–32. 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–BOX–2019–32, and should
be submitted on or before December 10,
2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.55
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–24976 Filed 11–18–19; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
55 17

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CFR 200.30–3(a)(12).

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Extension:
Rules 901, 902, 903(a), 904, 905, 906, 907,
and 908 of Regulation SBSR, SEC File
No. 270–629 OMB Control No. 3235–
0718.

Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rules 901, 902, 903(a), 904, 905, 906,
907, and 908 of Regulation SBSR (17
CFR 242.901, 902, 903(a), 904, 905, 906,
907, and 908) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.).
Regulation SBSR consists of ten rules,
Rules 900 to 909 under the Exchange
Act. Regulation SBSR provides
generally for the reporting of securitybased swap information to a registered
security-based swap data repository
(‘‘registered SDRs’’) or the Commission,
and the public dissemination of
security-based swap transaction,
volume, and pricing information by
registered SDRs. Rule 901 specifies,
with respect to each reportable event
pertaining to covered transactions, who
is required to report, what data must be
reported, when it must be reported,
where it must be reported, and how it
must be reported. Rule 901(a)(1) of
Regulation SBSR requires a platform to
report to a registered security-based
swap data repository (‘‘registered SDR’’)
a security-based swap executed on such
platform that will be submitted to
clearing. Rule 901(a)(2)(i) of Regulation
SBSR requires a registered clearing
agency to report to a registered SDR any
security-based swap to which it is a
counterparty. Rules 902 to 909 of
Regulation SBSR provide additional
details as to how such reporting and
public dissemination is to occur.
The Commission estimates that a total
of approximately 4900 entities will be
impacted by Regulation SBSR,
including registered SDRs, registered
security-based swap dealers, registered
major securities-based swap
participants, registered clearing
agencies, platforms, and reporting sides
and other market participants. The
Commission estimates that the total
reporting burden for Regulation SBSR,
for all respondents, is approximately
538,257.60 hours initially (which
equates to approximately 179,419.20
hours per year when annualized over
three years), with a total ongoing burden
thereafter of approximately 1,887,021.07
hours per year. Thus, the aggregate
yearly burden is approximately

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Federal Register / Vol. 84, No. 223 / Tuesday, November 19, 2019 / Notices
2,066,441 hours (2,066,440.27 rounded
up). In addition, the Commission
estimates that the total cost for all of
Regulation SBSR for all respondents is
approximately $21,264,300 initially
(which equates to approximately
$7,088,100 per year when annualized
over three years), with a total ongoing
cost thereafter of approximately
$80,331,371 per year. Thus, the
aggregate annual cost for all respondents
is approximately $87,419,472
($87,419,471.30 rounded up). A detailed
break-down of the burdens applicable to
each type of entity is provided in the
supporting statement.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to:
Lindsay.M.Abate@omb.eop.gov; and (ii)
Charles Riddle, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner,100 F Street NE, Washington,
DC 20549, or by sending an email to:
PRA_Mailbox@sec.gov. Comments must
be submitted to OMB within 30 days of
this notice.
Dated: November 8, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–25001 Filed 11–18–19; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION

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[Release No. 34–87521; File No. SR–
CboeBZX–2019–094]

Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Amend the
Fee Schedule Applicable to the BZX
Equities Trading Platform as it Relates
to Pricing for Orders Routed to Cboe
EDGA Exchange, Inc. Using the ALLB,
TRIM, or SLIM Routing Strategy
November 13, 2019.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the

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16:47 Nov 18, 2019

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‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on November
1, 2019, Cboe BZX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BZX’’) 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 Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe BZX Exchange, Inc. (‘‘BZX’’ or
the ‘‘Exchange’’) is filing with the
Securities and Exchange Commission
(the ‘‘Commission’’) a proposed rule
change to amend the fee schedule
applicable to the BZX equities trading
platform (‘‘BZX Equities’’) as it relates to
pricing for orders routed to Cboe EDGA
Exchange, Inc. (‘‘EDGA’’) using the
ALLB, TRIM, or SLIM routing strategy.
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/bzx/), at
the Exchange’s Office of the Secretary,
and at the Commission’s Public
Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend the
BZX Equities fee schedule to change the
pricing applicable to orders routed to
EDGA using the ALLB, TRIM, or SLIM
routing strategy, as a result of a recent
pricing change by EDGA effective on
November 1, 2019. The Exchange
proposes to implement the proposed
1 15
2 17

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U.S.C. 78s(b)(1).
CFR 240.19b–4.

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change to its fee schedule on November
1, 2019. Currently, the Exchange
provides a rebate of $0.0024 per share
for orders routed to EDGA using the
ALLB, TRIM, or SLIM routing strategy
(yielding fee codes AA and BJ), which
was a pass-through of the standard
rebate EDGA had previously provided to
orders that removed liquidity from
EDGA. Effective November 1, 2019,
EDGA reduced its standard rebate per
share for orders that remove liquidity in
securities priced at or above $1.00 from
$0.0024 to $0.0018. As such, the
Exchange proposes to similarly reduce
the per share rebate for orders routed to
EDGA (yielding fee codes AA and BJ)
from $0.0024 to $0.0018 in order to
reflect the reduction in the rebate
available for orders removing liquidity
on EDGA.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
requirements of Section 6(b) of the Act.3
Specifically, the Exchange believes the
proposed rule change is consistent with
Section 6(b)(4) of the Act,4 which
requires that Exchange Rules provide for
the equitable allocation of reasonable
dues, fees, and other charges among its
Members and other persons using its
facilities and does not unfairly
discriminate between customers,
issuers, brokers or dealers. The
Exchange operates in a highlycompetitive market in which market
participants can readily direct order
flow to competing venues if they deem
fee levels at a particular venue to be
excessive or incentives to be
insufficient.
In particular, the Exchange believes
that the proposed change is reasonable
because it reflects a pass-through of a
recent pricing change by EDGA for
liquidity removing orders, as described
above. The Exchange believes that the
proposed change is reasonable because
it will maintain proportionality with the
standard corresponding rebate offered
by EDGA while also maintaining
Member interest in routing orders
through the Exchange by passing on
better pricing to Members that choose to
enter such orders on the Exchange,
thereby encouraging additional order
flow to be entered on the BZX Book.
The Exchange believes that additional
order flow through the BZX Book will
result in greater liquidity to the benefit
of all market participants on the
Exchange by providing more trading
opportunities.
3 15
4 15

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63927

U.S.C. § 78f(b).
U.S.C. 78f(b)(4).

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