Federal Register / Vol. 87, No. 132 / Tuesday, July 12, 2022 / Notices 41371 

1See Release No. 33–10580 (Nov. 30, 2018) [83 

FR 64180 (Dec. 13, 2018)] (‘‘Adopting Release’’). 

Rule 139b became effective on January 14, 2019. 

2See Adopting Release, supra note 1, n. 413 and 

accompanying paragraph. 

3From information provided by FINRA, for the 

period January 1, 2021 through December 31, 2021, 

there were an aggregate of 48,341 filings that were 

coded either as Rule 482 or Rule 34b1 filings. 

Furthermore, for the period January 1, 2021 through 

December 31, 2021, the Commission estimates that 

there were 4,834 covered investment fund research 

reports/1,169 broker-dealers = 4.1 annual responses 

per broker-dealer. 

4 4.1 annual responses per broker-dealer × 3 

internal burden hours = 12.3 annual internal 

burden hours per broker-dealer. 

5 12.3 annual internal burden hours * 1,169 

broker-dealers. 

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

2 17 CFR 240.19b–4. 

November 30, 2018.1 The Commission 

plans to submit this existing collection 

of information to the Office of 

Management and Budget (‘‘OMB’’) for 

extension and approval. 

As directed by the Fair Access to 

Investment Research Act of 2017 (Pub. 

L. 115–66, 131 Stat. 1196 (2017) (the 

‘‘FAIR Act’’), the Commission adopted 

rule 139b under the Securities Act to 

extend the safe harbor under rule 139 to 

a ‘‘covered investment fund research 

report.’’ Specifically, rule 139b provides 

a safe harbor to a broker-dealer who 

publishes or distributes in the regular 

course of its business research reports 

concerning one or more ‘‘covered 

investment fund(s)’’ while participating 

in the distribution of a covered 

investment fund’s securities. 

In the Adopting Release, the 

Commission adopted the provision that 

rule 139b include a standardized 

performance disclosure requirement. 

The Commission believes that 

standardized performance presentation 

is an appropriate requirement because 

investors tend to consider fund 

performance a significant factor in 

evaluating or comparing investment 

companies, and the requirement 

addresses potential investor confusion if 

a communication were not easily 

recognizable as research as opposed to 

an advertising prospectus or 

supplemental sales literature. Rule 139b 

requires that research reports about 

open-end funds that include 

performance information must present it 

in accordance with paragraphs (d), (e), 

and (g) of rule 482. Rule 139b also 

requires that research reports about 

closed-end funds that include 

performance information must present it 

in accordance with instructions to item 

4.1(g) of Form N–2. Performance 

measures calculated by broker-dealers 

are not required to be kept confidential 

and there is no mandatory retention 

period. The Commission anticipates that 

compliance with these performance 

measures for each fund discussed in a 

research report, and for which the 

performance measures apply, would 

increase compliance costs for brokerdealers seeking to publish or distribute 

a covered investment fund research 

report. 

It is difficult to provide estimates of 

the burdens and costs for those brokerdealers that will include performance 

information in a rule 139b research 

report. As discussed in the Adopting 

Release, this is difficult to estimate 

because current data collected does not 

reflect the affiliate exclusion, does not 

include the entire universe of covered 

investment funds, and it is uncertain 

what percentage of communications 

currently filed as rule 482 advertising 

prospectuses (or rule 34b-1 

supplemental sales materials) will 

instead be published in reliance of rule 

139b, as covered investment fund 

research reports.2 For purposes of the 

PRA, we estimate that 10% of the rule 

482 and rule 34b–1 communications 

currently filed by broker-dealers with 

FINRA (approximately 48,341) could be 

considered as rule 139b covered 

investment fund research reports. We 

estimate that broker-dealers will publish 

annually 4,834 (10% of 48,341) covered 

investment fund research reports. 

Moreover, we assume for purposes of 

the PRA that all estimated rule 139b 

research reports will include fund 

performance information. We further 

estimate that 1,169 broker-dealers 

would likely be respondents to the 

collection of information with a 

frequency of 4.1 responses per year.3

Additionally, we estimate that each 

research report will require 3 hours of 

ongoing internal burden hours by a 

broker-dealers’ personnel to comply 

with the rule 139b collection of 

information requirements, which for 

each broker-dealer is estimated to be 

12.3 internal burden hours.4

Accordingly, we estimate that the 

standardized performance presentation 

requirements will result in an average 

12.3 annual hour burden per brokerdealer. 

In sum, we estimate that rule 139b’s 

requirements will impose a total annual 

internal hour burden of 14,379 hours on 

broker-dealers.5 We do not think there 

is an external cost burden associated 

with this collection of information. 

This information collection is subject 

to the PRA and responses to this 

collection of information requirement 

would not be mandatory for brokerdealers seeking to rely upon rule 139b, 

but would be necessary for those brokerdealers that would like to provide 

performance information in their 

covered investment fund research 

reports. Responses to the information 

collections will not be kept confidential. 

An agency may not conduct or sponsor, 

and a person is not required to respond 

to, a collection of information unless it 

displays a currently valid OMB control 

number. 

Written comments are invited on: (a) 

whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Commission, including whether the 

information shall have practical utility; 

(b) the accuracy of the Commission’s 

estimate of the burden of the collection 

of information; (c) ways to enhance the 

quality, utility, and clarity of the 

information collected; and (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology. Consideration will be given 

to comments and suggestions submitted 

by September 12, 2022. 

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. 

Please direct your written comments 

to: David Bottom, Acting Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o John 

Pezzullo, 100 F Street NE, Washington, 

DC 20549 or send an email to: PRA_

Mailbox@sec.gov. 

Dated: July 6, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–14745 Filed 7–11–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–95203; File No. SR– 

CboeEDGX–2022–030] 

Self-Regulatory Organizations; Cboe 

EDGX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Amend Its 

Fee Schedule 

July 6, 2022. 

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 July 1, 

2022, Cboe EDGX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘EDGX’’) filed with the 

Securities and Exchange Commission 

(the ‘‘Commission’’) the proposed rule 


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41372 Federal Register / Vol. 87, No. 132 / Tuesday, July 12, 2022 / Notices 

3See Cboe Global Markets, U.S. Equities Market 

Volume Summary, Month-to-Date (June 27, 2022), 

available at https://www.cboe.com/us/equities/ 

market_statistics/. 

4Orders yielding Fee Code ‘‘B’’ are orders adding 

liquidity to EDGX (Tape B). 

5Orders yielding Fee Code ‘‘V’’ are orders adding 

liquidity to EDGX (Tape A). 

6Orders yielding Fee Code ‘‘Y’’ are orders adding 

liquidity to EDGX (Tape C). 

7Orders yielding Fee Code ‘‘3’’ are orders adding 

liquidity to EXGX [sic] in the pre and post market 

(Tapes A or C). 

8Orders yielding Fee Code ‘‘4’’ are orders adding 

liquidity to EDGX in the pre and post market (Tape 

B). 

9 ‘‘ADV’’ means average daily volume calculated 

as the number of shares added to, removed from, 

or routed by, the Exchange, or any combination or 

subset thereof, per day. ADV is calculated on a 

monthly basis. 

10 ‘‘TCV’’ means total consolidated volume 

calculated as the volume reported by all exchanges 

and trade reporting facilities to a consolidated 

transaction reporting plan for the month for which 

the fees apply. 

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

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

13 Id. 

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 EDGX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘EDGX’’) proposes to 

amend its Fee 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/ 

options/regulation/rule_filings/edgx/) 

[sic], 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 applicable to its equities 

trading platform (‘‘EDGX Equity’’) to 

modify the criteria of Add Volume Tier 

2. The Exchange proposes to implement 

these changes effective July 1, 2022. 

The Exchange first notes that it 

operates in a highly competitive 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. More 

specifically, the Exchange is only one of 

16 registered equities exchanges, as well 

as a number of alternative trading 

systems and other off-exchange venues 

that do not have similar self-regulatory 

responsibilities under the Exchange Act, 

to which market participants may direct 

their order flow. Based on publicly 

available information,3 no single 

registered equities exchange has more 

than 16% of the market share. Thus, in 

such a low-concentrated and highly 

competitive market, no single equities 

exchange possesses significant pricing 

power in the execution of order flow. 

The Exchange in particular operates a 

‘‘Maker-Taker’’ model whereby it pays 

rebates to members that add liquidity 

and assesses fees to those that remove 

liquidity. The Exchange’s Fee Schedule 

sets forth the standard rebates and rates 

applied per share for orders that provide 

and remove liquidity, respectively. 

Currently, for orders in securities priced 

at or above $1.00, the Exchange 

provides a standard rebate of $0.00160 

per share for orders that add liquidity 

and assesses a fee of $0.0030 per share 

for orders that remove liquidity. For 

orders in securities priced below $1.00, 

the Exchange provides a standard rebate 

of $0.00009 per share for orders that add 

liquidity and assesses a fee of 0.30% of 

the total dollar value for orders that 

remove liquidity. Additionally, in 

response to the competitive 

environment, the Exchange also offers 

tiered pricing which provides Members 

opportunities to qualify for higher 

rebates or reduced fees where certain 

volume criteria and thresholds are met. 

Tiered pricing provides an incremental 

incentive for Members to strive for 

higher tier levels, which provides 

increasingly higher benefits or discounts 

for satisfying increasingly more 

stringent criteria. 

Add Volume Tier 2 

Under footnote 1 of the Fee Schedule, 

the Exchange currently offers various 

Add/Remove Volume Tiers. In 

particular, the Exchange offers four [sic] 

Add Volume Tiers that each provide an 

enhanced rebate for Members’ 

qualifying orders yielding fee codes B,4

V,5 Y,6 3 7 or 4,8 where a Member 

reaches certain add volume-based 

criteria. Specifically, Add Volume Tier 

2 offers an enhanced rebate of $0.0027 

per share for qualifying orders (i.e., 

yielding fee codes B, V, Y, 3 or 4) where 

a Member (i) adds an ADV 9 greater than 

or equal to 0.28% of the TCV; 10 or (ii) 

a Member adds and ADV greater than or 

equal to 30,000,000 shares. The 

Exchange proposes to amend the criteria 

of Add Volume Tier 2 to offer an 

enhanced rebate of $0.0027 per share for 

qualifying orders (i.e., yielding fee codes 

B, V, Y, 3 or 4) where a Member (i) adds 

an ADV greater than or equal to 0.22% 

(instead of 0.28%) of the TCV; or (ii) a 

Member adds an ADV greater than or 

equal to 25,000,000 shares (instead of 

30,000,000 shares). 

The Exchange believes that the 

proposed lower thresholds in Add 

Volume Tier 2 will incentivize market 

participants to provide additional 

displayed liquidity on the Exchange, 

thereby contributing to a deeper and 

more liquid market, which benefits all 

market participants and provides greater 

execution opportunities on the 

Exchange. The Exchange is not 

proposing any changes to Add Volume 

Tier 1 or Add Volume Tier 3. 

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. 


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Federal Register / Vol. 87, No. 132 / Tuesday, July 12, 2022 / Notices 41373 

14See BZX Equities Fee Schedule, Footnote 1, 

Add/Remove Volume Tiers. 

15See EDGX Equities Fee Schedule, Footnote 1, 

Add/Remove Volume Tiers. 

As described above, the Exchange 

operates in a highly competitive 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. The 

proposed rule change reflects a 

competitive pricing structure designed 

to incentivize market participants to 

direct their order flow to the Exchange, 

which the Exchange believes would 

enhance market quality to the benefit of 

all Members. 

In particular, the Exchange believes 

that the proposed changes to Add 

Volume Tier 2 are reasonable, equitable 

and not unfairly discriminatory because 

the tier, as modified, continues to be 

available to all Members and provide 

Members an opportunity to receive an 

enhanced rebate. As noted above, the 

Exchange operates in a highly 

competitive market. The Exchange is 

only one of 16 equity venues to which 

market participants may direct their 

order flow, and it represents a small 

percentage of the overall market. It is 

also only one of several maker-taker 

exchanges. Competing equity exchanges 

offer similar rates and tiered pricing 

structures to that of the Exchange, 

including schedules of rebates and fees 

that apply based upon members 

achieving certain volume thresholds. 

Specifically, the Exchange notes that 

relative volume-based incentives and 

discounts have been widely adopted by 

exchanges,14 including the Exchange,15

and are reasonable, equitable and nondiscriminatory because they are open to 

all Members on an equal basis and 

provide additional benefits or discounts 

that are reasonably related to (i) the 

value to an exchange’s market quality 

and (ii) associated higher levels of 

market activity, such as higher levels or 

liquidity provision and/or growth 

thresholds, as well as assess similar fees 

or rebates for similar types of orders, to 

that of the Exchange. 

Specifically, the Exchange believes 

the proposed criteria changes for Add 

Volume Tier 2 are reasonable because 

the tier will continue to provide 

Members with an opportunity to receive 

an enhanced rebate or reduced fee by 

encouraging Members to increase their 

order flow to the Exchange. In 

particular, the Exchange believes that 

the changes to Add Volume Tier 2 will 

provide reasonable means for Members 

to receive an enhanced rebate for adding 

liquidity on the Exchange. The 

Exchange also believes that the current 

enhanced rebate for Add Volume Tier 2 

continues to be commensurate with the 

proposed criteria. That is, the rebate 

reasonably reflects the difficulty in 

achieving the applicable criteria as 

amended. Furthermore, the Exchange 

believes that the proposed lower 

thresholds in Add Volume Tier 2 will 

incentivize market participants to 

provide additional displayed liquidity 

on the Exchange, thereby contributing to 

a deeper and more liquid market, which 

benefits all market participants and 

provides greater execution opportunities 

on the Exchange. 

The Exchange believes the proposed 

changes to Add Volume Tier 2 represent 

an equitable allocation of rebates and 

fees and are not unfairly discriminatory 

because all Members are eligible for 

those tiers and would have the 

opportunity to meet a tier’s criteria and 

would receive the proposed enhanced 

rebate or reduced fee if such criteria is 

met. Without having a view of activity 

on other market and off-exchange 

venues, the Exchange has no way of 

knowing whether this proposed rule 

change would definitely result in any 

Members qualifying for the proposed 

tiers. While the Exchange has no way of 

predicting with certainty how the 

proposed tiers will impact Member 

activity, the Exchange anticipates that 

two Members will be able to satisfy the 

criteria proposed for Add Volume Tier 

2. The Exchange also notes that the 

proposed changes will not adversely 

impact any Member’s ability to qualify 

for other reduced fee or enhanced 

rebated tiers. Should a Member not meet 

the proposed criteria under the 

modified tier, the Member will merely 

not receive that corresponding 

enhanced rebate or reduced fee. The 

Exchange believes that the proposed 

changes to Add Volume Tier 2 will 

benefit all market participants by 

incentivizing continuous liquidity and, 

thus, deeper more liquid markets as 

well as increased execution 

opportunities. Particularly, the proposal 

is designed to incentivize liquidity, 

which further contributes to a deeper, 

more liquid market and provide even 

more execution opportunities for active 

market participants at improved prices. 

This overall increase in activity deepens 

the Exchange’s liquidity pool, offers 

additional cost savings, supports the 

quality of price discovery, promotes 

market transparency and improves 

market quality, for all investors. 

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. Rather, as 

discussed above, the Exchange believes 

that the proposed change would 

encourage the submission of additional 

order flow to a public exchange, thereby 

promoting market depth, execution 

incentives and enhanced execution 

opportunities, as well as price discovery 

and transparency for all Members. As a 

result, the Exchange believes that the 

proposed change furthers the 

Commission’s goal in adopting 

Regulation NMS of fostering 

competition among orders, which 

promotes ‘‘more efficient pricing of 

individual stocks for all types of orders, 

large and small.’’ 

The Exchange believes the proposed 

rule change does not impose any burden 

on intramarket competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. Particularly, 

the proposed tier changes will apply to 

all Members equally in that all Members 

will continue to be eligible for Add 

Volume Tier 2, have a reasonable 

opportunity to meet the tier’s criteria 

and will receive the enhanced rebate on 

their qualifying orders if such criteria 

are met. 

The Exchange does not believe the 

proposed changes burden competition, 

but rather, enhance competition as they 

are intended to increase the 

competitiveness of EDGX by amending 

existing pricing incentives in order to 

attract order flow and incentivize 

participants to increase their 

participation on the Exchange, 

providing for additional execution 

opportunities for market participants 

and improved price transparency. 

Greater overall order flow, trading 

opportunities, and pricing transparency 

benefit all market participants on the 

Exchange by enhancing market quality 

and continuing to encourage Members 

to send orders, thereby contributing 

towards a robust and well-balanced 

market ecosystem. 

Next, the Exchange believes the 

proposed rule change does not impose 

any burden on intermarket competition 

that is not necessary or appropriate in 

furtherance of the purposes of the Act. 

As previously discussed, the Exchange 

operates in a highly competitive market. 

Members have numerous alternative 

venues that they may participate on and 

direct their order flow, including other 

equities exchanges, off-exchange 

venues, and alternative trading systems. 

Additionally, the Exchange represents a 

small percentage of the overall market. 

Based on publicly available information, 

no single equities exchange has more 


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41374 Federal Register / Vol. 87, No. 132 / Tuesday, July 12, 2022 / Notices 

16Supra note 3. 

17See Securities Exchange Act Release No. 51808 

(June 9, 2005), 70 FR 37496, 37499 (June 29, 2005). 

18NetCoalition v. SEC, 615 F.3d 525, 539 (D.C. 

Cir. 2010) (quoting Securities Exchange Act Release 

No. 59039 (December 2, 2008), 73 FR 74770, 74782– 

83 (December 9, 2008) (SR–NYSEArca–2006–21)). 

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

20 17 CFR 240.19b–4(f). 

21 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 

2 17 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). 

4See Securities Exchange Act Release No. 94924 

(May 16, 2022), 87 FR 31026 

5 17 CFR 200.30–3(a)(12). 

than 16% of the market share.16

Therefore, no exchange possesses 

significant pricing power in the 

execution of order flow. Indeed, 

participants can readily choose to send 

their orders to other exchange and offexchange venues if they deem fee levels 

at those other venues to be more 

favorable. Moreover, the Commission 

has repeatedly expressed its preference 

for competition over regulatory 

intervention in determining prices, 

products, and services in the securities 

markets. Specifically, in Regulation 

NMS, the Commission highlighted the 

importance of market forces in 

determining prices and SRO revenues 

and, also, recognized that current 

regulation of the market system ‘‘has 

been remarkably successful in 

promoting market competition in its 

broader forms that are most important to 

investors and listed companies.’’ 17 The 

fact that this market is competitive has 

also long been recognized by the courts. 

In NetCoalition v. Securities and 

Exchange Commission, the D.C. Circuit 

stated as follows: ‘‘[n]o one disputes 

that competition for order flow is 

‘fierce.’. . . As the SEC explained, ‘[i]n 

the U.S. national market system, buyers 

and sellers of securities, and the brokerdealers that act as their order-routing 

agents, have a wide range of choices of 

where to route orders for execution’; 

[and] ‘no exchange can afford to take its 

market share percentages for granted’ 

because ‘no exchange possesses a 

monopoly, regulatory or otherwise, in 

the execution of order flow from broker 

dealers’. . .’’.18

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 19 and paragraph (f) of Rule 

19b–4 20 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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

CboeEDGX–2022–030 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–CboeEDGX–2022–030. 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. 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– 

CboeEDGX–2022–030, and should be 

submitted on or before August 2, 2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.21

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–14750 Filed 7–11–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–95202; File No. SR–MEMX– 

2022–13] 

Self-Regulatory Organizations; MEMX 

LLC; Notice of Withdrawal of a 

Proposed Rule Change To Amend Its 

Fee Schedule To Adopt Connectivity 

Fees 

July 6, 2022. 

On May 6, 2022, MEMX LLC 

(‘‘MEMX’’) filed with the Securities and 

Exchange Commission (‘‘Commission’’), 

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

Securities Exchange Act of 1934 1 and 

Rule 19b–4 thereunder,2 a proposed rule 

change to amend its Fee Schedule to 

adopt Connectivity Fees. 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 May 20, 2022.4 On July 1, 

2022, MEMX withdrew the proposed 

rule change (SR–MEMX–2022–13). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.5

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–14749 Filed 7–11–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

TIME AND DATE: 2 p.m. on Thursday, July 

14, 2022. 


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