89070 Federal Register / Vol. 89, No. 218 / Tuesday, November 12, 2024 / Notices 

21 15 U.S.C. 78s(b)(3)(A). 

22 17 CFR 240.19b–4(f). 23 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 100102 

(May 10, 2024), 89 FR 42543 (‘‘Notice’’). 

4 15 U.S.C. 78s(b)(2). 

5See Securities Exchange Act Release No. 

100437, 89 FR 54894 (July 2, 2024). 

6 15 U.S.C. 78s(b)(2)(B). 

7See Securities Exchange Act Release No. 100720 

(August 13, 2024), 89 FR 67120 (August 19, 2024). 

8 15 U.S.C. 78s(b)(2). 

that is not necessary or appropriate. As 

described above, the Exchange 

evaluated its proposed fee change using 

objective and stable metric with limited 

volatility. Utilizing Data Processing PPI 

over a specified period of time is a 

reasonable means of recouping a portion 

of the Exchange’s investment in 

maintaining and enhancing the 

connectivity service identified above. 

The Exchange believes utilizing Data 

Processing PPI, a tailored measure of 

inflation, to increase certain 

connectivity fees to recoup the 

Exchange’s investment in maintaining 

and enhancing its services and products 

would not impose a burden on 

competition. 

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 foregoing rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 21 and paragraph (f) of Rule 

19b–4 22 thereunder. At any time within 

60 days of the filing of the proposed rule 

change, the Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission will institute proceedings 

to determine whether the proposed rule 

change should be approved or 

disapproved. 

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 (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

CboeEDGA–2024–043 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–2024–043. 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 

SR–CboeEDGA–2024–043 and should 

be submitted on or before December 3, 

2024 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.23

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–26096 Filed 11–8–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101517; File No. SR–NYSE– 

2024–23] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Designation of a Longer Period for 

Commission Action on Proceedings To 

Determine Whether To Approve or 

Disapprove a Proposed Rule Change 

To Amend Section 703.12(II) of the 

NYSE Listed Company Manual To 

Expand the Circumstances Under 

Which Rights May Be Listed on the 

NYSE 

November 5, 2024. 

On April 29, 2024, the New York 

Stock Exchange LLC (‘‘NYSE’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

amend Section 703.12(II) of the NYSE 

Listed Company Manual to expand the 

circumstances under which rights may 

be listed on the NYSE by allowing 

issuers to (i) issue rights to more than 

existing shareholders for a class of 

securities that is listed or to be listed on 

the Exchange, and (ii) list and trade 

rights on the Exchange prior to listing 

the security into which such rights will 

be exercisable. The proposed rule 

change was published for comment in 

the Federal Register on May 15, 2024.3

On June 26, 2024, pursuant to Section 

19(b)(2) of the Act,4 the Commission 

designated a longer period within which 

to approve the proposed rule change, 

disapprove the proposed rule change, or 

institute proceedings to determine 

whether to disapprove the proposed 

rule change.5 On August 19, 2024, the 

Commission instituted proceedings 

pursuant to Section 19(b)(2)(B) of the 

Act 6 to determine whether to approve 

or disapprove the proposed rule 

change.7 The Commission has received 

no comment letters on the proposed rule 

change. 

Section 19(b)(2) of the Act 8 provides 

that, after initiating proceedings, the 

Commission shall issue an order 

approving or disapproving the proposed 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 89, No. 218 / Tuesday, November 12, 2024 / Notices 89071 

9See Notice, supra note 3. 

10 15 U.S.C. 78s(b)(2). 

11 17 CFR 200.30–3(a)(57). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3The Exchange initially filed the proposed fee 

changes on July 3, 2023 (SR–CboeBYX–2023–010). 

On September 1, 2023, the Exchange withdrew that 

filing and submitted SR–CboeBYX–2023–013. On 

September 29, 2023, 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 (the ‘‘OIP’’) in anticipation of a possible U.S. 

government shutdown. On September 29, 2023, the 

Exchange filed the proposed fee change (SR– 

CboeBYX–2023–014). On October 13, 2023, the 

Exchange withdrew that filing and submitted SR– 

CboeBYX–2023–015. On December 12, 2023, 

Exchange filed the proposed fee change (SR– 

CboeBYX–2023–018). On December 12, 2023, the 

Exchange withdrew that filing and submitted SR– 

CboeBYX–2023–019. On February 9, 2024, the 

Exchange withdrew that filing and submitted SR– 

CboeBYX–2024–006. On April 9, 2024, the 

Exchange withdrew that filing and submitted SR– 

CboeBYX–2024–012. On June 7, 2024, the Exchange 

withdrew that filing and submitted SR–CboeBYX– 

2024–021. On August 29, 2024, the Exchange 

withdrew that filing and submitted SR–CboeBYX– 

2024–032. On October 25, 2024, the Exchange 

withdrew that filing and submitted this filing. 

4See e.g., 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 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. 

5The Affiliate Exchanges are also submitting 

contemporaneous identical rule filings. 

6The Exchange notes that conversely, other 

exchange groups charge separate port fees for access 

to separate, but affiliated, exchanges. See e.g., 

Securities and Exchange Release No. 99822 (March 

21, 2024), 89 FR 21337 (March 27, 2024) (SR– 

MIAX–2024–016). 

7 15 U.S.C. 78f(b). 

rule change not later than 180 days after 

the date of publication of the notice of 

filing of the proposed rule change. The 

Commission may extend the period for 

issuing an order approving or 

disapproving the proposed rule change, 

however, by not more than 60 days if 

the Commission determines that a 

longer period is appropriate and 

publishes the reasons for such 

determination. The proposed rule 

change was published for notice and 

comment in the Federal Register on 

May 15, 2024.9 The 180th day after 

publication of the Notice is November 

11, 2024. The Commission is extending 

the time period for approving or 

disapproving the proposed rule change 

for an additional 60 days. 

The Commission finds it appropriate 

to designate a longer period within 

which to issue an order approving or 

disapproving the proposed rule change 

so that it has sufficient time to consider 

the proposed rule change. Accordingly, 

the Commission, pursuant to Section 

19(b)(2) of the Act,10 designates January 

10, 2025 as the date by which the 

Commission shall either approve or 

disapprove the proposed rule change 

(File No. SR–NYSE–2024–23). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–26093 Filed 11–8–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101519; File No. SR– 

CboeBYX–2024–039] 

Self-Regulatory Organizations; Cboe 

BYX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Amend Its 

Fees Schedule Related to Physical 

Port Fees 

November 5, 2024. 

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 October 

25, 2024, Cboe BYX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BYX’’) 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. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

Cboe BYX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BYX Equities’’) 

proposes to amend its Fees Schedule. 

The text of the proposed rule change is 

provided in Exhibit 5. 

The text of the proposed rule change 

is also available on the Exchange’s 

website (http://markets.cboe.com/us/ 

equities/regulation/rule_filings/BYX/), 

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 its 

fee schedule relating to physical 

connectivity fees.3

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. The Exchange currently 

assesses the following physical 

connectivity fees for Members and nonMembers on a monthly basis: $2,500 per 

physical port for a 1 gigabit (‘‘Gb’’) 

circuit and $7,500 per physical port for 

a 10 Gb circuit. The Exchange proposes 

to increase the monthly fee for 10 Gb 

physical ports from $7,500 to $8,500 per 

port. The Exchange notes 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.4 The Exchange also notes 

that a single 10 Gb physical port can be 

used to access the Systems of the 

following affiliate exchanges: the Cboe 

BZX Exchange, Inc. (options and 

equities), Cboe EDGX Exchange, Inc. 

(options and equities platforms), Cboe 

EDGA Exchange, Inc., and Cboe C2 

Exchange, Inc., (‘‘Affiliate Exchanges’’).5

Notably, only one monthly fee currently 

(and will continue) to apply per 10 Gb 

physical port regardless of how many 

affiliated exchanges are accessed 

through that one port.6

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.7 Specifically, 

the Exchange believes the proposed rule 

change is consistent with the Section 


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