30 Day Notice

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Federal Register / Vol. 89, No. 154 / Friday, August 9, 2024 / Notices

Participant in the Plan by: (i) executing
a copy of the Plan, as then in effect; (ii)
providing each current Participant with
a copy of such executed Plan; and (iii)
effecting an amendment to the Plan, as
specified in Section 4(b) of the Plan.6
Section 4(b) of the Plan sets forth the
process by which an Eligible Exchange
may effect an amendment to the Plan.
Specifically, an Eligible Exchange must:
(a) execute a copy of the Plan with the
only change being the addition of the
new Participant’s name in Section 3(a)
of the Plan; and (b) submit the executed
Plan to the Commission. The Plan then
provides that such an amendment will
be effective when the amendment is
approved by the Commission or
otherwise becomes effective pursuant to
Section 11A of the Act and Rule 608
thereunder.
II. Effectiveness of the Proposed
Linkage Plan Amendment
The foregoing Plan amendment has
become effective pursuant to Rule
608(b)(3)(iii) 7 because it has been
designated as involving solely technical
or ministerial matters. At any time
within sixty days of the filing of this
amendment, the Commission may
summarily abrogate the amendment and
require that it be refiled pursuant to
paragraph (a)(1) of Rule 608,8 if it
appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or the maintenance of fair and
orderly markets, to remove impediments
to, and perfect the mechanisms of, a
national market system or otherwise in
furtherance of the purposes of the Act.

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III. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the amendment is
consistent with the Act and the rules
thereunder. Comments may be
submitted by any of the following
methods:
securities exchange chooses not to become part to
this Plan, is a participant in another plan approved
by the Commission providing for comparable
Trade-Through and Locked and Crossed Market
protection. MIAX Sapphire has represented that it
has met the requirements for being considered an
Eligible Exchange. See letter from Gregory P.
Ziegler, Vice President and Senior Counsel, MIAX
Sapphire, to Vanessa Countryman, Secretary,
Commission, dated July 30, 2024.
6 MIAX Sapphire has represented that it has
executed a copy of the current Plan, amended to
include MIAX Sapphire as a Participant and has
sent each current Participant a copy of the executed
Plan. See letter from Gregory P. Ziegler, Vice
President and Senior Counsel, MIAX Sapphire, to
Vanessa Countryman, Secretary, Commission, dated
July 30, 2024.
7 17 CFR 242.608(b)(3)(iii).
8 17 CFR 242.608(a)(1).

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Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include file number 4–
546 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 4–546. This file number should
be included on the subject line if email
is used. To help the Commission
process and review your comments
more efficiently, please use only one
method. The Commission will post all
comments on the Commission’s internet
website (https://www.sec.gov/rules/
sro.shtml). Copies of the submission, all
subsequent amendments, all written
statements with respect to the proposed
rule change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549, on official
business days between the hours of 10
a.m. and 3 p.m. Copies of the filing also
will be available for inspection and
copying at the principal office of the
Exchange. Do not include personal
identifiable information in submissions;
you should submit only information
that you wish to make available
publicly. We may redact in part or
withhold entirely from publication
submitted material that is obscene or
subject to copyright protection. All
submissions should refer to file number
4–546 and should be submitted on or
before August 30, 2024.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–17686 Filed 8–8–24; 8:45 am]
BILLING CODE 8011–01–P

9 17

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SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–347, OMB Control No.
3235–0393]

Submission for OMB Review;
Comment Request; Extension: Rule
15g–4
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
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 extension of the
existing collection of information
provided for in Rule 15g–4—Disclosure
of compensation to brokers or dealers
(17 CRF 240.15g–4) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.).
Rule 15g–4 requires brokers and
dealers effecting transactions in penny
stocks for or with customers to disclose
the amount of compensation received by
the broker-dealer in connection with the
transaction. The purpose of the rule is
to increase the level of disclosure to
investors concerning penny stocks
generally and specific penny stock
transactions.
The Commission estimates that
approximately 170 broker-dealers will
each spend an average of approximately
87.0833333 hours annually to comply
with this rule. Thus, the total time
burden is approximately 14,804 hours
per year.
Rule 15g–4 contains record retention
requirements. Compliance with the rule
is mandatory. The required records are
available only to the examination staff
of the Commission and the self
regulatory organizations of which the
broker-dealer is a member.
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. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent by
September 9, 2024 to (i)
www.reginfo.gov/public/do/PRAMain

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Federal Register / Vol. 89, No. 154 / Friday, August 9, 2024 / Notices
and (ii) Austin Gerig, Director/Chief
Data Officer, Securities and Exchange
Commission, c/o Oluwaseun Ajayi, 100
F Street NE, Washington, DC 20549, or
by sending an email to: PRA_Mailbox@
sec.gov.
Dated: August 5, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–17652 Filed 8–8–24; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–100651; File No. SR–
CboeEDGX–2024–035]

Self-Regulatory Organizations; Cboe
EDGX Exchange, Inc.; Suspension of
and Order Instituting Proceedings To
Determine Whether To Approve or
Disapprove Proposed Rule Change To
Amend the Exchange’s Fee Schedule
Related to Physical Port Fees
August 5, 2024

I. Introduction
On June 7, 2024, Cboe EDGX
Exchange, Inc. (the ‘‘Exchange’’ or
‘‘EDGX’’) filed with the Securities and
Exchange Commission (‘‘Commission’’
or ‘‘SEC’’), pursuant to Section 19(b)(1)
of the Securities Exchange Act of 1934
(‘‘Exchange Act’’ or ‘‘Act’’),1 and Rule
19b–4 thereunder,2 a proposed rule
change (File Number SR–CboeEDGX–
2024–035) to increase fees for 10 gigabit
(‘‘Gb’’) physical ports (‘‘Proposal’’). The
proposed rule change was immediately
effective upon filing with the
Commission pursuant to Section
19(b)(3)(A) of the Act.3 The proposed
rule change was published for comment
in the Federal Register on June 21,
2024.4 Pursuant to Section 19(b)(3)(C) of
the Act,5 the Commission is hereby: (1)
temporarily suspending the proposed
rule change; and (2) instituting
proceedings to determine whether to
approve or disapprove the proposed
rule change.
II. Background and Description of the
Proposed Rule Change
The Exchange proposes to amend its
fee schedule relating to physical

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1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A). A proposed rule change
may take effect upon filing with the Commission if
it is designated by the exchange as ‘‘establishing or
changing a due, fee, or other charge imposed by the
self-regulatory organization on any person, whether
or not the person is a member of the self-regulatory
organization.’’ 15 U.S.C. 78s(b)(3)(A)(ii).
4 See Securities Exchange Act Release No. 100343
(June 14, 2024), 89 FR 52109 (‘‘Notice’’).
5 15 U.S.C. 78s(b)(3)(C).
2 17

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connectivity fees by increasing the
monthly fee for 10 Gb physical ports
from $7,500 to $8,500 per port.6 The
Exchanges states that, by way of
background, a physical port is utilized
by a Member or non-Member to connect
to the Exchange at the data centers
where the Exchange’s servers are
located.7 Prior to this proposed rule
change, the Exchange assessed the
following physical connectivity fees for
Members and non-Members on a
monthly basis: $2,500 per physical port
for a 1 Gb circuit and $7,500 per
physical port for a 10 Gb circuit.8 The
Exchange states the proposed fee change
better enables it to continue to maintain
and improve its market technology and
services and also notes that the
proposed fee amount, even as amended,
continues to be in line with, or even
lower than, amounts assessed by other
exchanges for similar connections.9 The
Exchange also states that a single 10 Gb
physical port can be used to access the
Systems of the following affiliate
exchanges: the Cboe BYX Exchange,
Inc., Cboe BZX Exchange, Inc. (options
and equities platforms), Cboe EDGA
Exchange, Inc., and Cboe C2 Exchange,
Inc. (‘‘Affiliate Exchanges’’).10 The
Exchange states that only one monthly
6 See Notice, 89 FR at 52109. The Exchange
initially filed the proposed fee changes on July 3,
2023 (SR–CboeEDGX–2023–044). On September 1,
2023, the Exchange withdrew that filing and
submitted SR–CboeEDGX–2023–057. On September
29, 2023, the Exchange states that the Securities and
Exchange Commission issued a Suspension of and
Order Instituting Proceedings to Determine whether
to Approve or Disapprove a Proposed Rule Change
to Amend its Fees Schedule Related to Physical
Port Fees. See Notice, 89 FR at 52109 n.3. On
September 29, 2023, the Exchange filed the
proposed fee change (SR–CboeEDGX–2023–62). On
October 13, 2023, the Exchange withdrew that filing
and, on business day October 16, 2023, submitted
SR–CboeEDGX–2023–065. On December 12, 2023,
the Exchange withdrew that filing and submitted
SR–CboeEDGX–2023–079. On December 20, 2023,
the Exchange withdrew that filing and submitted
SR–CboeBZX–2023–081. On February 12, 2024, the
Exchange withdrew that filing and submitted SR–
CboeEDGX–2024–013. On April 9, 2024, the
Exchange withdrew that filing and submitted SR–
CboeEDGX–2024–020. On June 7, 2024, the
Exchange withdrew that filing and submitted SR–
CboeEDGX–2024–035.
7 See Notice, 89 FR at 52109.
8 See Notice, 89 FR at 52109.
9 See Notice, 89 FR at 52109 (citing The Nasdaq
Stock Market LLC (‘‘Nasdaq’’), General 8,
Connectivity to the Exchange. Nasdaq and its
affiliated exchanges charge a monthly fee of $15,000
for each 10Gb Ultra fiber connection to the
respective exchange, which is analogous to the
Exchange’s 10Gb physical port. See also id. (citing
New York Stock Exchange LLC, NYSE American
LLC, NYSE Arca, Inc., NYSE Chicago Inc., NYSE
National, Inc. Connectivity Fee Schedule, which
provides that 10 Gb LX LCN Circuits (which are
analogous to the Exchange’s 10 Gb physical port)
are assessed $22,000 per month, per port.)).
10 See Notice, 89 FR at 52109. The Affiliate
Exchanges are also submitted contemporaneous
substantively similar rule filings.

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65469

fee applies per 10 Gb physical port
regardless of how many affiliated
exchanges are accessed through that one
port.11
III. Suspension of the Proposed Rule
Change
Pursuant to Section 19(b)(3)(C) of the
Act,12 at any time within 60 days of the
date of filing of an immediately effective
proposed rule change pursuant to
Section 19(b)(1) of the Act,13 the
Commission summarily may
temporarily suspend the change in the
rules of a self-regulatory organization
(‘‘SRO’’) 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. A temporary suspension of the
proposed rule changes is necessary and
appropriate to allow for additional
analysis of the proposed rule change’s
consistency with the Act and the rules
thereunder.
A. Exchange Statements In Support of
the Proposal
In support of the Proposal, the
Exchange states that it believes the
proposed rule change is consistent with
the Act and the rules and regulations
thereunder applicable to the Exchange
and, in particular, the requirements of
Section 6(b) of the Act.14 Specifically,
the Exchange believes the proposed rule
change is consistent with the Section
6(b)(5) 15 requirements that the rules of
an exchange be designed to prevent
fraudulent and manipulative acts and
practices, to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in regulating, clearing, settling,
processing information with respect to,
and facilitating transactions in
securities, to remove impediments to
and perfect the mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest.16
Additionally, the Exchange believes the
proposed rule change is consistent with
the Section 6(b)(5) requirement that the
rules of an exchange not be designed to
permit unfair discrimination between
11 See Notice, 89 FR at 52109. The Exchange
states that conversely, other exchange groups charge
separate port fees for access to separate, but
affiliated, exchanges. See Notice, 89 FR at 52109 n.6
(citing Securities and Exchange Release No. 99822
(March 21, 2024), 89 FR 21337 (March 27, 2024)
(SR–MIAX–2024–016)).
12 15 U.S.C. 78s(b)(3)(C).
13 15 U.S.C. 78s(b)(1).
14 See Notice, 89 FR at 52109; 15 U.S.C. 78f(b).
15 See Notice, 89 FR at 52109; 15 U.S.C. 78f(b)(5).
16 See Notice, 89 FR at 52109.

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