100564 Federal Register / Vol. 89, No. 239 / Thursday, December 12, 2024 / Notices 

19 15 U.S.C. 78s(b)(3)(A). 

20 17 CFR 240.19b–4(f)(6). In addition, Rule 19b4(f)(6) 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. NYSE Chicago 

has satisfied this requirement. 

21 17 CFR 240.19b–4(f)(6). 

22 17 CFR 240.19b–4(f)(6)(iii). 

23 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

The Exchange also believes is it 

reasonable to remove language in 

Article 3, Rule 1(b) limiting statutory 

disqualification to a Commission order 

because, as discussed above, not every 

statutory disqualification requires a 

Commission order. In addition, the 

proposed changes would align Article 3, 

Rule 1 with the equivalent rules of BOX, 

Cboe BZX, Cboe BYX, Cboe EDGA, Cboe 

EDGX, as well as the rules of the 

Exchange’s affiliates. 

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 is not intended to 

address competitive issues but rather is 

concerned solely with aligning the 

Exchange’s rules with those of other 

exchanges and with the Commission’s 

approach to handling firms that are 

subject to statutory disqualification. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to 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 19 and Rule 19b– 

4(f)(6) thereunder.20

A proposed rule change filed under 

Rule 19b–4(f)(6) 21 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),22 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. 

NYSE Chicago has asked the 

Commission to waive the 30-day 

operative delay so that the proposed 

rule change may become operative upon 

filing. NYSE Chicago states that waiving 

the 30-day delay in this manner would 

allow the Exchange to address an 

unusual and time sensitive situation in 

which a firm subject to a statutory 

disqualification seeks to become an 

Exchange member organization during 

the pendency of the process by which 

the firm is seeking relief from the 

statutory disqualification. For this 

reason, the Commission believes that 

waiving 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 operative upon 

filing. 

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 

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– 

NYSECHX–2024–36 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–NYSECHX–2024–36. 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–NYSECHX–2024–36 and 

should be submitted on or before 

January 2, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.23

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–29145 Filed 12–11–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101834; File No. SR– 

CBOE–2024–052] 

Self-Regulatory Organizations; Cboe 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend Auction 

Response and Execution Price Cap for 

AIM and SAM Auctions 

December 6, 2024. 

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 November 

22, 2024, Cboe Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘Cboe Options’’) filed 

with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the Exchange. 

The Exchange filed the proposal as a 

‘‘non-controversial’’ proposed rule 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 239 / Thursday, December 12, 2024 / Notices 100565 

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

4 17 CFR 240.19b–4(f)(6). 

5See Rules 5.37(c)(5) and 5.39(c)(5). 

6See Rule 5.37(e). 

7See Rule 5.39(e). 

8The term ‘‘Initial NBBO’’ means the national 

best bid or national best offer at the time an auction 

is initiated. See Rules 5.37 (introductory paragraph) 

and 5.39 (introductory paragraph). The Exchange 

notes that Rules 5.37(b) and 5.39(b) reference the 

‘‘then-current NBBO’’ when describing the stop 

price conditions. The ‘‘then-current NBBO’’ is the 

NBBO at the time the System receives the Agency 

Order and contra-order, which (assuming all 

conditions are satisfied) becomes the time at which 

the auction commences, and thus the then-current 

NBBO is ultimately the NBBO at the 

commencement of the auction, which is also the 

‘‘Initial NBBO.’’ 

9The proposed rule change makes nonsubstantive 

changes to Rule 5.37(e) to delete the redundant 

phrase ‘‘as follows,’’ and makes other grammatical 

changes, which changes have no impact on these 

provisions and merely improve readability. The 

proposed rule change also makes nonsubstantive 

changes to Rule 5.37(e) to replace ‘‘better than both 

sides of’’ with ‘‘between,’’ as those terms mean the 

same thing with respect to the BBO. This makes the 

language in Rule 5.37(e) consistent with the 

analogous language in Rule 5.39(e). 

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. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

Cboe Exchange, Inc. (the ‘‘Exchange’’ 

or ‘‘Cboe Options’’) proposes to amend 

Rules 5.37 and 5.39. 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://www.cboe.com/ 

AboutCBOE/CBOELegalRegulatory

Home.aspx), 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 

Rules 5.37 (Automated Price 

Improvement Mechanism (‘‘AIM’’ or 

‘‘AIM Auction’’) and 5.39 (‘‘Solicitation 

Auction Mechanisms (‘‘SAM’’ or ‘‘SAM 

Auction’’)) to modify the agency side 

execution price cap to allow for further 

price improvement. 

By way of background, Rule 5.37 

contains the requirements applicable to 

the execution of certain customer orders 

(‘‘Agency Orders’’) using AIM. An AIM 

Auction is an electronic auction 

intended to provide an Agency Order 

with the opportunity to receive price 

improvement (over the National Best 

Bid or Offer (‘‘NBBO’’)). Rule 5.39 

contains the requirements applicable to 

the execution of Agency Orders using 

SAM. Similarly, a SAM Auction is an 

electronic auction intended to provide a 

larger-sized Agency Order with the 

opportunity to receive price 

improvement over the NBBO. Upon 

submitting an Agency Order into an 

AIM or SAM Auction, the initiating 

Trading Permit Holder (‘‘Initiating 

TPH’’) must also submit a contra-side 

second order (‘‘Initiating Order’’) for the 

same size as the Agency Order. The 

Initiating Order guarantees that the 

Agency Order will receive an execution 

at no worse than the auction price. 

Upon commencement of an auction, 

market participants may submit 

responses to trade against the Agency 

Order.5 At the conclusion of an AIM 

Auction, depending on the contra-side 

interest (including auction responses) 

available, the Initiating Order may be 

allocated a certain percentage (or more) 

of the Agency Order.6 At the conclusion 

of a SAM Auction, depending on the 

contra-side interest (including auction 

responses) available, the Initiating Order 

may be allocated the entire Agency 

Order or none of the Agency Order.7

Rules 5.37(c)(5)(B) and 5.39(c)(5)(B) 

provide that the System may not 

execute AIM responses (against Agency 

Orders) outside of the BBO at the 

conclusion of the AIM Auction or the 

Initial NBBO. Similarly, Rules 5.37(e) 

and 5.39(e) provide that the execution 

price of any Agency Order must be not 

outside the Exchange best bid or offer 

(‘‘BBO’’) at the conclusion of the auction 

or the Initial NBBO.8 The Exchange 

proposes to amend Rules 5.37(c)(5)(B) 

and (e) and 5.39(c)(5)(B) and (e) to 

eliminate the requirement that the 

execution price of an AIM response or 

Agency Order be at or better than the 

Initial NBBO.9 The Exchange believes 

this may provide Agency Orders with 

further opportunities for price 

improvement, including in the event the 

market changes during an AIM or SAM 

Auction. 

To illustrate the impact of the 

proposed rule change, suppose the 

following market exists when an 

Initiating TPH submits to AIM Auction 

an Agency Order to buy 5 contracts at 

1.05 (which is the stop price): 

BBO: 0.85–1.20 (no priority customers) 

ABBO: 1.00–1.10 

Initial NBBO: 1.00–1.10 

After the Auction begins, the ABBO 

moves to 0.90–1.10 and the Exchange 

receives on its book a non-priority 

customer order to sell 1 contract at 0.95. 

During the Auction, one response to sell 

one contract at 0.75 is submitted. 

Therefore, when the AIM Auction 

concludes, the following market exists: 

BBO: 0.85–0.95 (no priority customers) 

ABBO: 0.90–1.10 

NBBO: 0.90–0.95 

Under the current rules, the execution 

price would be capped at the Initial 

NBB of 1.00, and thus the Agency Order 

would execute as follows: 

1 contract against the sell response @ 

1.00 

1 contract against the sell order @ 1.00 

3 contracts against the Initiating Order 

at 1.05 

As proposed, the execution price 

would be capped at BBO at the 

conclusion of the Auction of 0.85, and 

thus the Agency Order would execute as 

follows: 

1 contract against the sell response @ 

0.85 

1 contract against the sell order @ 0.95 

3 contracts against the Initiating Order 

@ 1.05 

Therefore, as proposed, the Agency 

Order is able to buy one contract at 0.15 

less and another contract at 0.05 less 

than what occurs under the current 

Rules, which ultimately results in price 

savings for this customer. 

To illustrate what would happen if 

the away market moved the other 

direction during an AIM Auction, 

suppose the following market exists 

when an Initiating TPH submits to AIM 

Auction an Agency Order to buy 5 

contracts at 1.05 (which is the stop 

price): 

BBO: 0.85–1.20 (no priority customers) 

ABBO: 1.00–1.10 

Initial NBBO: 1.00–1.10 

After the Auction begins, the ABBO 

moves to 1.10–1.20 and the Exchange 

receives on its book a non-priority 

customer order to sell 1 contract at 1.15. 

During the Auction, one response to sell 

one contract at 0.95 is submitted. 

Therefore, when the AIM Auction 

concludes, the following market exists: 


ddrumheller on DSK120RN23PROD with NOTICES1
100566 Federal Register / Vol. 89, No. 239 / Thursday, December 12, 2024 / Notices 

10See Rule 5.66(b)(9) (which permits transactions 

that trade through the NBBO if an order was 

stopped at a price that did not constitute a tradethrough at the time of the stop). 

11 15 U.S.C. 78f(b). 

12 15 U.S.C. 78f(b)(5). 

13 Id. 

14See Securities Exchange Act Release No. 60405 

(July 30, 2009), 74 FR 39362 (August 6, 2009) 

(Order Approving the National Market System Plan 

Relating to Options Order Protection and Locked/ 

Crossed Markets Submitted by the Chicago Board 

Options Exchange, Incorporated, International 

Securities Exchange, LLC, The NASDAQ Stock 

Market LLC, NASDAQ OMX BX, Inc., NASDAQ 

OMX PHLX, Inc., NYSE Amex LLC, and NYSE 

Arca, Inc.) (‘‘Linkage Approval Order’’) 

15See Rules 5.65 through 5.67. 

16See Rule 5.66(b)(9). 

17See Rules 5.37(b) and 5.39(b). 

18The Exchange notes at least one other options 

exchange with similar auction mechanisms does 

not limit executions prices to being at or better than 

the Initial NBBO. See, e.g., Nasdaq ISE, LLC (‘‘ISE’’) 

Rulebook Options 3, Section 11(d) (permissible 

execution prices for orders submitted into the 

solicited order mechanism (comparable to SAM) do 

not take into account prices of away markets); and 

Section 13 (permissible execution prices for orders 

submitted into the price improvement mechanism 

(comparable to AIM) do not take into account prices 

of away markets). 

19See Linkage Approval Order at 39368. The 

Commission continued by stating that ‘‘[d]uring 

[an] auction period, the NBBO could move from 

where it was when the order was received. 

However, the Exchange is only required to 

guarantee a price no worse than the NBBO at the 

time the order was received.’’ The Commission 

found this exception to be ‘‘in the public interest, 

appropriate for the protection of investors and the 

maintenance of fair and orderly markets.’’ Id. 

BBO: 0.85–1.15 (no priority customers) 

ABBO: 1.10–1.20 

NBBO: 1.10–1.15 

Under the current rules, the execution 

price would be capped at the Initial 

NBB of 1.00, and thus the Agency Order 

would execute as follows: 

1 contract against the sell response @ 

1.00 

4 contracts against the Initiating Order 

at 1.05 

As proposed, the execution price 

would be capped at BBO at the 

conclusion of the Auction of 0.85, and 

thus the Agency Order would execute as 

follows: 

1 contract against the sell response @ 

0.95 

4 contracts against the Initiating Order 

@ 1.05 

Therefore, as proposed, the Agency 

Order is able to buy one contract at 0.05 

less than what occurs under the current 

Rules, which ultimately results in price 

savings for this customer. This example 

also demonstrates that if the Agency 

Order side of the market crosses the 

auction/stop price, the Agency Order 

will still not trade at a price worse than 

the auction/stop price. 

Another example illustrates what 

would happen if the Exchange’s market 

moved during an AIM Auction and the 

Agency Order side of the market crossed 

the auction/stop price, suppose the 

following market exists when an 

Initiating TPH submits to AIM Auction 

an Agency Order to buy 5 contracts at 

1.05 (which is the stop price): 

BBO: 0.85–1.20 (no priority customers) 

ABBO: 1.00–1.10 

Initial NBBO: 1.00–1.10 

After the Auction begins, the 

Exchange receives on its book a nonpriority customer order to buy 1 

contract at 1.15. No responses were 

received prior to the receipt of this 

order. This would cause the Agency 

Order’s stop price of 1.05 to be outside 

of the BBO of 1.15–1.20. As a result, 

pursuant to Rule 5.37(d)(1)(C), the AIM 

Auction would conclude. All five 

contracts of the Agency Order would 

execute against the Initiating Order at 

1.05. The proposed rule change would 

have no impact on this scenario since 

the execution price is still within the 

Initial NBBO. 

The proposed change will continue to 

protect interest resting on the 

Exchange’s book (including priority 

customers) and interest at away markets 

in accordance with linkage rules 10

while providing customers with 

additional opportunities for price 

improvement. Additionally, customers 

will continue to never receive an 

execution at a price worse than the 

auction/stop price. 

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.11 Specifically, 

the Exchange believes the proposed rule 

change is consistent with the Section 

6(b)(5) 12 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) 13 requirement that 

the rules of an exchange not be designed 

to permit unfair discrimination between 

customers, issuers, brokers, or dealers. 

The Exchange believes the proposed 

rule change will help perfect the 

mechanism of a free and open market, 

promote just and equitable principles of 

trade and protect investors. In 

particular, the Exchange believes the 

proposed rule change will provide 

opportunities for further price 

improvement for Agency Orders in the 

event an away market fades during an 

auction. The Exchange believes that the 

proposed rule change may permit 

Agency Orders submitted into AIM and 

SAM Auctions (or parts of them) to 

execute at better prices, including 

against Auction responses, than they 

may execute at today. The Exchange 

believes the proposed changes may 

provide Agency Orders with increased 

opportunities for meaningful price 

improvement without inadvertently 

penalizing them if markets happen to 

move during an auction. The Exchange 

believes the proposed rule change will 

permit customers to take advantage of 

market moves that occur during an 

auction, which may result in these 

orders receiving further price 

improvement compared to what they 

may receive under current Rules, which 

ultimately benefits investors. 

The Exchange further notes that the 

proposed rule change remains 

consistent with the Options Order 

Protection and Locked/Crossed Market 

Plan (‘‘Linkage Plan’’) approved by the 

Securities and Exchange Commission 

(the ‘‘Commission’’) pursuant to 

Regulation NMS 14 and the Exchange’s 

Rules adopted in accordance with the 

Linkage Plan.15 In particular, the 

proposed rule change is consistent with 

the trade-through exception that permits 

an order to trade at a price outside of the 

NBBO at the time of execution (i.e., the 

conclusion of an AIM or SAM Auction) 

if the order was stopped at a price that 

did not constitute a trade-through at the 

time of the stop (i.e., the Initial 

NBBO).16 This stop price is required for 

AIM and SAM auctions.17 While this 

trade-through exception requires a stop 

price to be at or between the Initial 

NBBO, it does not require an execution 

price to be at or between the Initial 

NBBO.18 When the Commission 

discussed this trade through exception 

when approving the Linkage Plan, it 

noted the purpose of this exception was 

to allow for ‘‘price improvement for an 

order, even if the market moves in the 

interim, and the transaction is effected 

at a price that would trade through the 

then currently-displayed market,’’ as 

occurs in price improvement auctions of 

several exchanges.19 As proposed, 

executions will always occur at prices at 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 239 / Thursday, December 12, 2024 / Notices 100567 

20See, e.g., ISE Rulebook Options 3, Section 

11(d)(3) (permissible execution prices for orders 

submitted into the solicited order mechanism 

(comparable to SAM) do not take into account 

prices of away markets); and Section 13(d) 

(permissible execution prices for orders submitted 

into the price improvement mechanism 

(comparable to AIM) do not take into account prices 

of away markets). 

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

22 17 CFR 240.19b–4(f)(6). 

23 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

or between the BBO at the conclusion of 

the Auction, thus respecting prices from 

away markets while providing an 

Agency Order with the opportunity to 

benefit from any market changes that 

occur during an auction. Additionally, 

customers will continue to never receive 

an execution at a price worse than the 

auction/stop price. 

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 

Exchange does not believe the proposed 

rule change will impose any burden on 

intramarket competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, because it 

will apply uniformly to AIM and SAM 

orders and responses of all TPHs. 

Additionally, the Exchange notes that 

participation in the AIM and SAM 

Auctions is completely voluntary. The 

Exchange believes all market 

participants may benefit from any 

additional price improvement in the 

AIM and SAM Auctions that may result 

from the proposed rule change. The 

Exchange does not believe the proposed 

rule change will impose any burden on 

intermarket competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, as the 

proposed rule change relates to 

Exchange-specific auction mechanisms 

and, as noted above, will continue to 

ensure that execution prices occur in a 

manner consistent with linkage rules 

and protect customers on the book. As 

noted above, at least one other options 

exchange with similar auction 

mechanisms does not limit executions 

prices to being at or better than the 

Initial NBBO.20

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: 

A. significantly affect the protection 

of investors or the public interest; 

B. impose any significant burden on 

competition; and 

C. 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 21 and Rule 19b–4(f)(6) 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– 

CBOE–2024–052 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–CBOE–2024–052. 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–CBOE–2024–052 and should be 

submitted on or before January 2, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.23

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–29147 Filed 12–11–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101838; File No. SR–NYSE– 

2024–77] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend Rule 

346 

December 6, 2024. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that on December 

3, 2024, New York Stock Exchange LLC 

(‘‘NYSE’’ or 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 self-regulatory 

organization. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 


ddrumheller on DSK120RN23PROD with NOTICES1