Document ID: SEC-2019-0528-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Cboe Exchange, Inc.
Posted Date: 2019-04-22T04:00Z

[Federal Register Volume 84, Number 77 (Monday, April 22, 2019)]
[Notices]
[Pages 16701-16709]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-07983]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-85657; File No. SR-CBOE-2019-017]

Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of 
Filing and Immediate Effectiveness of a Proposed Rule Change To Update 
Defined Terms in Its Rules, Delete Obsolete and Redundant Language, and 
Make Other Nonsubstantive Changes

April 16, 2019.
    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 April 10, 2019, 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 and II 
below, which Items have been prepared by the Exchange. The Exchange 
filed the proposal as a ``non-controversial'' proposed rule 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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of the 
Substance of the Proposed Rule Change

    Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe Options'') proposes 
to update defined terms in its Rules, delete obsolete and redundant 
language, and make other nonsubstantive changes. 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/CBOELegalRegulatoryHome.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
    Rule 1.1 currently contains definitions of terms used throughout 
the Cboe Options Rules. Each defined term is currently contained in a 
lettered paragraph within Rule 1.1. The proposed rule change first puts 
the defined terms in alphabetical order so that market participants can 
better locate defined terms within the Rules.
    The proposed rule change also moves certain defined terms from 
other Rules to Rule 1.1, adds certain defined terms, makes certain 
nonsubstantive changes to existing definitions, and makes the changes 
described in the following table. The proposed rule change makes 
changes throughout the Rules to conform to the changes to defined 
terms.\5\
---------------------------------------------------------------------------

    \5\ For example, the proposed rule change deletes the definition 
of ``National Spread Market'' from Rule 6.25, Interpretation and 
Policy .07(b), and deletes the definition of ``Exchange Spread 
Market'' from Rule 6.53C, Interpretation and Policy .06(b)(2), as 
each term is defined in Rule 1.1.

[[Page 16702]]

------------------------------------------------------------------------
                                          Current Cboe    Description of
    Defined term         Provision        options rule       change .
------------------------------------------------------------------------
Aggregate Exercise   the exercise       1.1(t) and       Applied the
 Price.               price of an        24.1(c).         definition to
                      option contract                     index options
                      multiplied by                       and delete
                      (a) for equity                      redundant
                      options, the                        definition in
                      number of units                     Rule 24.1(c).
                      of the
                      underlying
                      security or (b)
                      for index
                      options, the
                      index multiplier
                      for the
                      underlying index
                      covered by the
                      option contract.
American-Style       option contract    1.1(vv)........  No change to
 Option.              that, subject to                    definition,
                      the provisions                      but delete
                      of Rule 11.1                        redundant
                      (relating to the                    definitions in
                      cutoff time for                     Rule 24.1(m).
                      exercise
                      instructions)
                      and to the Rules
                      of the Clearing
                      Corporation, may
                      be exercised on
                      any business day
                      prior to and on
                      its expiration
                      date..
BBO................  the best bid or    6.45(a)(ii)(c)(  Moved to Rule
                      offer              2) and other     1.1.
                      disseminated on    Rules.
                      the Exchange.
Bid................  the price of a     N/A............  Added to Rule
                      limit order or                      1.1.\6\
                      quote to buy one
                      or more options
                      contracts.
Board..............  the Exchange's     N/A (Board of    Added to Rule
                      Board of           Directors is     1.1.
                      Directors.         currently
                                         referenced
                                         throughout the
                                         Rules).
Book and Simple      electronic book    1.1(rrr).......  Adding that
 Book.                of simple orders                    Book may also
                      and quotes                          be referred to
                      maintained by                       as Simple
                      the System.                         Book.
Call...............  an option          1.1(o) and       Added
                      contract under     24.1(b).         clarifying
                      which the holder                    language and
                      of the option                       applied the
                      has the right,                      definition to
                      in accordance                       index options;
                      with the terms                      \7\ deletes
                      of the option                       redundant
                      and the Rules of                    definition in
                      the Clearing                        24.1(b).
                      Corporation, to
                      purchase from
                      the Clearing
                      Corporation (a)
                      for equity
                      options, the
                      number of units
                      of the
                      underlying
                      security covered
                      by the option
                      contract, at a
                      price per unit
                      equal to the
                      exercise price,
                      or (b) for index
                      options, the
                      current index
                      value times the
                      index multiplier
                      upon the timely
                      exercise of the
                      option.
Capped-Style Option  option contract    1.1(ww) and      No change;
                      that is            24.1(o).         delete
                      automatically                       redundant
                      exercised when                      definition in
                      (a) for equity                      24.1(o).
                      options, the cap
                      price is reached
                      or (b) for index
                      options, the cap
                      price is less
                      (greater) than
                      or equals the
                      closing index
                      value for calls
                      (puts). If this
                      does not occur
                      prior to
                      expiration, it
                      may be
                      exercised,
                      subject to the
                      provisions of
                      Rule 11.1
                      (relating to the
                      cutoff time for
                      exercise
                      instructions)
                      and to the Rules
                      of the Clearing
                      Corporation,
                      only on its
                      expiration date;
                      CAPSTM refers to
                      capped-style
                      options traded
                      on the Exchange.
Class and Hybrid     all option         1.1(q).........  Deletes
 Class.               contracts with                      unnecessary
                      the same unit of                    reference to
                      trading covering                    options, given
                      the same                            only options
                      underlying                          trade on the
                      security or                         Exchange;
                      index.                              applies the
                                                          definition to
                                                          index option;
                                                          deletes that a
                                                          class means
                                                          options of the
                                                          same type
                                                          (currently
                                                          defined as put
                                                          or call), as a
                                                          class is
                                                          comprised of
                                                          both puts and
                                                          calls; adds
                                                          that a class
                                                          is comprised
                                                          of option
                                                          contracts with
                                                          the same unit
                                                          of trading
                                                          covering the
                                                          same
                                                          underlying
                                                          security or
                                                          index
                                                          (discussed
                                                          below).\8\
Clearing             Options Clearing   1.1(d).........  Adding that the
 Corporation and      Corporation.                        Clearing
 OCC.                                                     Corporation
                                                          may also be
                                                          referred to as
                                                          OCC.
Clearing Trading     a Trading Permit   1.1(f).........  Added that
 Permit Holder.       Holder that has                     Clearing
                      been admitted to                    Trading Permit
                      membership in                       Holders self-
                      the Clearing                        clear or clear
                      Corporation                         on behalf of
                      pursuant to the                     others
                      provisions of                       (consistent
                      the rules of the                    with Cboe
                      Clearing                            Options
                      Corporation and                     today).\9\
                      is self-clearing
                      or that clears
                      transactions for
                      other Trading
                      Permit Holders.
Commission and SEC.  U.S. Securities    3.1(a)(vi) and   Moved to Rule
                      and Exchange       other Rules.     1.1 and adding
                      Commission.                         that the
                                                          Commission may
                                                          also be
                                                          referred to as
                                                          SEC.

[[Page 16703]]

 
Complex Order......  order involving    6.42 and         Added general
                      the concurrent     6.53C(a)(1).     definition of
                      execution of two                    complex order;
                      or more                             \10\ the
                      different series                    definition of
                      in the same                         complex order
                      class (the                          with respect
                      ``legs'' or                         to Rules 6.9,
                      ``components''                      6.42, 6.45,
                      of the order),                      and 6.74 is
                      for the same                        limited
                      account,                            pursuant to
                      occurring at or                     those Rules,
                      near the same                       so the
                      time and for the                    proposed
                      purpose of                          definition
                      executing a                         notes the
                      particular                          limitations
                      investment                          currently set
                      strategy with no                    forth in those
                      more than the                       Rules (and
                      applicable                          deletes them
                      number of legs                      from the
                      (which number                       specified
                      the Exchange                        Rules);
                      determines on a                     clarified that
                      class-by-class                      complex orders
                      basis); the                         for the
                      Exchange                            purpose of
                      determines in                       electronic
                      which classes                       processing
                      complex orders                      have a
                      are eligible for                    different
                      processing;                         definition.\11
                      unless the                          \
                      context
                      otherwise
                      requires, the
                      term complex
                      order includes
                      stock-option
                      order and
                      security future-
                      option order;
                      for purposes of
                      electronic
                      trading, the
                      term ``complex
                      order'' has the
                      meaning set
                      forth in Rule
                      6.53C; for
                      purposes of
                      Rules 6.9, 6.42,
                      6.45(b), and
                      6.74, the term
                      ``complex
                      order'' means a
                      spread order,
                      combination
                      order, straddle
                      order, or ratio
                      order (each as
                      defined in Rule
                      6.53), a stock-
                      option order, a
                      security future-
                      option order, or
                      a complex order
                      as defined Rule
                      6.53C.
Customer...........  Public Customer    N/A............  Added to Rule
                      or broker-dealer.                   1.1; new
                                                          definition in
                                                          the Rules, but
                                                          concept of
                                                          customers
                                                          exists
                                                          throughout
                                                          current Rules
                                                          (including in
                                                          priority
                                                          rules).
Customer Order.....  agency order for   N/A............  Added to Rule
                      the account of a                    1.1.
                      Customer.
DEA................  designated         3.6A(b) and      Moved to Rule
                      examining          others.          1.1.
                      authority.
Discretion.........  authority of a     N/A............  Added to Rule
                      broker or dealer                    1.1; \12\
                      to determine for                    concept of
                      a Customer the                      broker
                      type of option,                     discretion
                      class or series                     contained in
                      of options, the                     various Rules
                      number of                           (see, e.g.,
                      contracts, or                       Rule 6.75).
                      whether options
                      are to be bought
                      or sold.
DPM Designee.......  has the meaning    8.81...........  Added to Rule
                      set forth in                        1.1 a
                      Rule 8.81.                          reference to
                                                          the
                                                          definition.
Equity Option......  option on an       N/A (equity      Added to Rule
                      equity security    options          1.1, and
                      (including Units   permitted by     clarifying
                      (or ETFs) or       Chapter 5).      that equity
                      Index-Linked                        options
                      Securities (or                      includes
                      ETNs)).                             options on
                                                          ETFs and ETNs
                                                          (both of which
                                                          are permitted
                                                          to be listed
                                                          pursuant to
                                                          Rule 5.3).
European-Style       option contract    1.1(uu) and      No change to
 option.              that, subject to   24.1(k).         definition,
                      the provisions                      but delete
                      of Rule 11.1                        redundant
                      (relating to the                    definitions in
                      cutoff time for                     Rule 24.1(k).
                      exercise
                      instructions)
                      and to the Rules
                      of OCC, may be
                      exercised only
                      on its
                      expiration date.
Exchange or Cboe     Cboe Exchange,     N/A (but         Added to rule
 Options.             Inc.               referenced       1.1.
                                         throughout).
Exchange Act.......  Securities         1.1............  Added rules and
                      Exchange Act of                     regulations,
                      1934, including                     to which the
                      rules and                           Exchange is
                      regulations                         also subject.
                      thereunder.
Exercise Price.....  the specified      1.1(s) and       Applied the
                      price per unit     24.1(d).         definition to
                      at which (a) for                    index options;
                      equity options,                     deletes
                      the underlying                      redundant
                      security or (b)                     definition in
                      for index                           Rule 24.1(d).
                      options, current
                      index value may
                      be purchased or
                      sold upon the
                      exercise of an
                      option contract.
Expiration Date....  third Friday of    1.1............  Deleted
                      expiration month.                   language about
                                                          series that
                                                          expire on
                                                          Saturday
                                                          rather than
                                                          Friday, as no
                                                          more
                                                          grandfathered
                                                          series are
                                                          listed on the
                                                          Exchange.
FINRA..............  Financial          17.2,            Added to Rule
                      Industry           Interpretation   1.1.
                      Regulatory         and Policy .05
                      Authority, Inc.    and other
                                         Rules.
Floor Broker.......  has the meaning    6.70...........  Added to Rule
                      set forth in                        1.1 a
                      Rule 6.70.                          reference to
                                                          the
                                                          definition.
He, Him, His.......  deemed to refer    N/A............  Added to Rule
                      to persons of                       1.1.
                      female as well
                      as male gender
                      and to include
                      organizations,
                      as well as
                      individuals,
                      when the context
                      requires.
Index-Linked         shares or other    5.3,             Added to Rule
 Security or ETN.     securities         Interpretation   1.1.
                      traded on a        and Policy .13.
                      national
                      securities
                      exchange and
                      defined as an
                      ``NMS stock'' as
                      set forth in
                      Interpretation
                      and Policy .13.
Index Option.......  option on a broad- N/A (index       Added to Rule
                      based, narrow-     options          1.1.
                      based, micro       permitted by
                      narrow-based or    Chapter 24).
                      other index of
                      equity
                      securities
                      prices.
Lead Market-Maker    has the meaning    8.15...........  Added to Rule
 or LMM.              set forth in                        1.1 a
                      Rule 8.15.                          reference to
                                                          the
                                                          definition.
Limit Up-Limit Down  has the meaning    6.3A...........  Added to Rule
 State.               set forth in                        1.1 a
                      Rule 6.3A.                          reference to
                                                          the
                                                          definition.
Market-Maker.......  has the meaning    8.1............  Added to Rule
                      set forth in                        1.1 a
                      Rule 8.1.                           reference to
                                                          the
                                                          definition.

[[Page 16704]]

 
NBB, NBO, and NBBO.  the national best  6.80             Added to Rule
                      bid, the           (referenced      1.1.
                      national best      throughout the
                      offer, and the     Rules).
                      national best
                      bid or offer the
                      Exchange
                      calculates based
                      on market
                      information it
                      receives from
                      OPRA.
NMS Stock..........  has the meaning    5.3(a)(1) and    Added to Rule
                      set forth in       other Rules.     1.1.
                      Rule 600 of
                      Regulation NMS
                      of the Exchange
                      Act.
Notional Value.....  value calculated   6.25(e)(1)(C)..  Added to Rule
                      by multiplying                      1.1.
                      the number of
                      contracts
                      (contract size
                      multiplied by
                      the contract
                      multiplier) in
                      an order by the
                      order's limit
                      price.
Offer..............  the price of a     N/A............  Added to Rule
                      limit order or                      1.1.\13\
                      quote to sell
                      one or more
                      option contracts.
OLPP...............  Options Listing    5.5A...........  Moved to Rule
                      Procedures Plan.                    1.1.
OPRA...............  Options Price      6.43...........  Moved to Rule
                      Reporting                           1.1.
                      Authority.
Options Principal..  person engaged in  N/A (but term    Added to Rule
                      the management     used in          1.1.\14\
                      and supervision    various Rules).
                      of the TPH's
                      business
                      pertaining to
                      option contracts
                      that has
                      responsibility
                      for the overall
                      oversight of the
                      TPH's options-
                      related
                      activities on
                      the Exchange.
Order..............  firm commitment    1.1(ooo) and     Moved market
                      to buy or sell     6.53.            order and
                      option contracts.                   limit order
                                                          definitions to
                                                          Rule 1.1.\15\
Order Service Firm.  has the meaning    6.77...........  Added to Rule
                      set forth in                        1.1 a
                      Rule 6.77.                          reference to
                                                          the
                                                          definition.
PAR Official.......  has the meaning    6.12B..........  Added to Rule
                      set forth in                        1.1 a
                      Rule 6.12B.                         reference to
                                                          the
                                                          definition.
Preferred Market-    has the meaning    8.13...........  Added to Rule
 Maker or PMM.        set forth in                        1.1 a
                      Rule 8.13.                          reference to
                                                          the
                                                          definition.
Put................  option contract    1.1(n) and       Added
                      under which the    24.1(a).         clarifying
                      holder of the                       language and
                      option has the                      applied the
                      right, in                           definition to
                      accordance with                     index options;
                      the terms and                       \16\ deletes
                      provisions of                       redundant
                      the option and                      definition in
                      the Rules of the                    Rule 24.1(a).
                      Clearing
                      Corporation, to
                      sell to the
                      Clearing
                      Corporation (a)
                      for equity
                      options, the
                      number of units
                      of the
                      underlying
                      security covered
                      by the option
                      contract, at a
                      price per unit
                      equal to the
                      exercise price,
                      or (b) for index
                      options, the
                      current index
                      value times the
                      index multiplier
                      upon the timely
                      exercise of the
                      option.
Reporting authority  with respect to a  24.1(h)........  Moved from
                      particular                          24.1(h).
                      index, the
                      institution or
                      reporting
                      service
                      designated by
                      the Exchange as
                      the official
                      source for
                      calculating the
                      level of the
                      index from the
                      reported prices
                      of the
                      underlying
                      securities that
                      are the basis of
                      the index and
                      reporting such
                      level.
Series or Series of  all option         1.1............  Clarified that
 Options.             contracts of the                    a series
                      same class that                     consists of
                      are the same                        options of the
                      type of option                      same type
                      and have the                        (i.e., options
                      same exercise                       with the same
                      price, and                          exercise price
                      expiration date.                    and date that
                                                          are calls are
                                                          a series, and
                                                          options with
                                                          the same
                                                          exercise price
                                                          and date that
                                                          are puts are
                                                          another
                                                          series).
Sponsored User.....  has the meaning    6.20A..........  Added to Rule
                      set forth in                        1.1 a
                      Rule 6.20A.                         reference to
                                                          the
                                                          definition.
System or Hybrid     the Exchange's     1.1(aaa).......  As discussed
 Trading System.      trading platform                    below, deletes
                      that allows                         reference to
                      Market-Makers to                    Hybrid 3.0
                      submit                              platform and
                      electronic                          indicates it
                      quotes in their                     may be
                      appointed                           referred to as
                      classes and any                     System in
                      connectivity to                     addition to
                      the foregoing                       Hybrid Trading
                      trading platform                    System.
                      that is
                      administered by
                      or on behalf of
                      the Exchange,
                      such as a
                      communications
                      hub.
Trading Session....  hours during       6.1 and 6.1A...  Added to Rule
                      which the                           1.1.
                      Exchange is open
                      for trading for
                      Regular Trading
                      Hours or Global
                      Trading Hours,
                      each as defined
                      in Rule 6.1.
Transaction or       transaction        1.1(l).........  Updated and
 Exchange             involving a                         simplified the
 transaction.         contract                            definition to
                      effected on or                      conform to the
                      through the                         definition of
                      Exchange or its                     transaction in
                      facilities or                       C2 Rule 1.1.
                      systems.
UIT Interest.......  share, unit, or    1.1(rr) and      Combined
                      other interest     Interpretation   definition and
                      in or relating     and Policy .01.  types of UIT
                      to a unit                           interests into
                      investment                          a single term.
                      trust, including
                      any component
                      resulting from
                      the subdivision
                      or separation of
                      such an interest.
Unit or ETF........  shares or other    5.3,             Added to Rule
                      securities         Interpretation   1.1.
                      traded on a        and Policy .06
                      national           and 5.8(b).
                      securities
                      exchange and
                      defined as an
                      ``NMS stock'' as
                      set forth in
                      Interpretation
                      and Policy .06.
Unit of Trading....  defined in Rule    6.40...........  Added to Rule
                      6.40.                               1.1 a
                                                          reference to
                                                          the
                                                          definition.
Web CRD............  the Central        2.23,            Moved to 1.1.
                      Registration       Interpretation
                      Depository         and Policy .02
                      operated by        and other
                      FINRA.             Rules.
------------------------------------------------------------------------

[[Page 16705]]

    As noted above, the proposed rule change amends the definition of 
class to mean all option contracts with the same unit of trading 
(including adjusted series as determined by OCC) covering the same 
underlying security or index. The current definition states a class 
consists of options of the same type, which is defined as either a put 
or a call. This definition of class corresponds to the definition as 
used when options trading began on the Exchange in the 1970s. However, 
as options trading grew, the term class became understood to include 
both puts and calls. This is consistent with current industry use of 
the term ``class'' and use of the term class throughout the Exchange's 
Rules. Because a class is generally understood to include both puts and 
calls, which are types of series, not separate classes, the current 
definition of class is outdated. As described above, options with the 
same exercise price and expiration date that are puts constitute one 
series, and options with the same exercise price and expiration date 
that are calls constitute another series. Additionally, there are some 
exceptions for options that cover the same underlying but constitute a 
separate class, and the proposed definition incorporates this 
concept.\17\ For example, mini-options cover the same underlying 
security as standard options, but are considered as separate class 
since they have a different deliverable (10 shares of the underlying 
security rather than 100 shares of the underlying security, 
respectively). Additionally, when OCC adjusts series in connection with 
corporate actions (see Rule 5.7), it announces whether those series are 
part of the same existing class or a new class covering the same 
underlying security. The concept of unit of trading more accurately 
describes the series that constitute a class (e.g., the unit of trading 
for a mini-option is 10, and the unit of trading for a standard option 
is 100, making each a separate class under the proposed definition). 
The proposed definition accounts for these exceptions, and is a more 
accurate definition of what options constitute a class today on the 
Exchange.\18\
---------------------------------------------------------------------------

    \6\ The proposed definition is consistent with the industry term 
``bid'' and is the same as the definition of bid in C2 Rule 1.1 and 
EDGX Rule 16.1(a)(6).
    \7\ The proposed definition is the same as the definition of 
call in C2 Rule 1.1 and EDGX Rule 16.1(a)(12).
    \8\ The proposed rule change is the same as the definition of 
class in C2 Rule 1.1.
    \9\ The proposed rule change is the same as the definition of 
Clearing Trading Permit Holder in C2 Rule 1.1.
    \10\ The proposed rule change is substantially similar the 
definition of complex orders that are permitted in open outcry of 
other exchanges. See, e.g, BOX Exchange LLC (``BOX'') Rule 
7600(a)(4); and Nasdaq Phlx, LLC (``Phlx'') Rule 1098(a)(i) and 
(c)(iii).
    \11\ The proposed rule change has no impact on the trading, 
minimum increment, or priority of complex orders.
    \12\ The proposed rule change is substantively the same as the 
definition of discretion in C2 Rule 1.1 and EDGX Rule 16.1(a)(21).
    \13\ The proposed definition is consistent with the industry 
term ``offer'' and is the same as the definition of bid in C2 Rule 
1.1 and EDGX Rule 16.1(a)(30).
    \14\ The proposed definition is the same as the definition of 
Options Principal in C2 Rule 1.1.
    \15\ The proposed rule change deletes the concept of ``reaching 
a post'' with respect to a market order, as that is solely related 
to floor trading and also an obsolete term. Market orders may trade 
on the floor or electronically, and trade at the best price 
available at the time of execution (either on the trading floor or 
in the System). The proposed rule change adds that a limit order to 
buy (sell) is marketable when, at the time it enters the System or 
is represented on the trading floor, the order is equal to or higher 
(lower) than the then-current offer (bid), which is substantively 
the same as the definition of limit order in C2 Rule 1.1.
    \16\ The proposed definition is the same as the definition of 
put in C2 Rule 1.1 and EDGX Rule 16.1(a)(49).
    \17\ The proposed definition is the same as the definition of 
class in C2 Rule 1.1. The proposed definition with respect to the 
phrase ``unit of trading'' is consistent with the OCC definition of 
that term (the Exchange notes the OCC definition continues to remain 
outdated, as it still refers to a class consisting of contracts of 
the same type (OCC By-Laws Article I, C.(11)). See OCC By-Laws 
Article 1, U.(5)(a unit of trading. The proposed definition of unit 
of trading is consistent with Rule 6.40.
    \18\ The proposed rule change makes conforming changes to Rule 
4.11, Interpretation and Policy .01(a) and 24A.7(a)(4), which 
currently contain references to class as being puts only or calls 
only. The term class with respect to these Rules regarding position 
limits is currently interpreted to mean both puts and calls, as 
described by the proposed definition of class.
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    The proposed rule change alphabetizes the terms in Rule 6.53. In 
addition, the proposed rule change conforms the definition of ISO to 
the definition of ISO in C2 Rule 1.1 and moves the language regarding 
how ISOs are not eligible for processing under Rule 6.14A to that Rule. 
The proposed rule change amends the definition of a stop order to 
eliminate the reference to a trade on the Cboe Options floor, as the 
triggering trade may occur electronically (if the Exchange enables stop 
orders for electronic trading pursuant to Rule 6.53). The proposed rule 
change amends the definitions of FOK and IOC to provide that each may 
execute electronically in addition to in open outcry.
    The proposed rule change also adds the following order times-in-
force to Rule 6.53:
    (a) Day: The term ``Day'' means, for an order so designated, an 
order to buy or sell that, if not executed, expires at the close of 
trading. While the term is not currently defined in the Rules, Day 
orders are currently referenced in various Rules and is consistent with 
current functionality.\19\
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    \19\ See, e.g., Rule 6.53C(c)(iii). The proposed definition of 
Day is the same as the definition of Day in C2 Rule 1.1.
---------------------------------------------------------------------------

    (b) Good-til-Cancelled or GTC: The terms ``Good-til-Cancelled'' or 
``GTC'' mean, for an order so designated, if after entry into the 
System, the order is not fully executed, the order (or unexecuted 
portion) remains available for potential display or execution (with the 
same timestamp) unless cancelled by the entering User, or until the 
option expires, whichever comes first. While the term is not currently 
defined in the Rules, GTC orders are currently referenced in various 
Rules and is consistent with current functionality.\20\
---------------------------------------------------------------------------

    \20\ See Rule 6.53C(c)(iii). The proposed definition of Day is 
the same as the definition of Day in C2 Rule 1.1.
---------------------------------------------------------------------------

    The proposed rule change deletes ``One-Cancels-the-Other'' from 
current Rule 6.53(h). A one-cancels-the-other order consists of two or 
more orders treated as a unit. The Execution of any one of the orders 
causes the others to be cancelled. The Exchange no longer offers this 
order instruction for any class, and does not intend to in the future. 
The proposed rule change makes conforming changes throughout the Rules 
to delete this term. The proposed rule change also moves the provisions 
in Rule 6.53, Interpretation and Policy .01 to proposed Rule 6.45(d), 
and moves the provisions in Rule 6.53, Interpretation and Policy .02 to 
Rule 6.24(a)(5).
    The proposed rule change makes nonsubstantive changes to the 
introductory language of Rule 6.53 to provide that the Exchange 
determines which order types are available (or not available) on a 
class-by-class and system-by-system basis. This is consistent with the 
flexibility currently provided by Rule 6.53.\21\
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    \21\ The proposed rule change is also substantively the same as 
C2 Rule 6.10.
---------------------------------------------------------------------------

    The proposed rule change amends Rule 6.12A(c) to state that, in 
addition to the orders that may not route to PAR pursuant to Rule 
6.12A(c), orders may not be eligible to route to PAR if the Rules or 
context otherwise requires. For example, there are certain order types 
not currently listed in Rule 6.12A(c) that may not route to PAR by 
their terms.\22\ Which orders may route to PAR are listed on the 
Exchange's website.\23\ The proposed rule change ensures consistency 
throughout the Rules.
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    \22\ See, e.g., electronic-only order, opening rotation order.
    \23\ See https://www.cboe.org/publish/opsettingsrth/operational-settings-for-rth.pdf.

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[[Page 16706]]

    Various Rules provide the Exchange will generally announce any 
determinations pursuant to those Rules by Regulatory Circular. The 
Exchange announces determinations in a variety of ways, including 
Regulatory Circular and Exchange Notice. Proposed Rule 1.2 states the 
Exchange will announce to Trading Permit Holders all determinations it 
makes pursuant to the Rules via (a) specifications, Notices, or 
Regulatory Circulars with appropriate advanced notice, which will be 
posted on the Exchange's website, (b) electronic message, or (c) other 
communication method as provided in the Rules. To the extent the Rules 
provide the Exchange will announce a determination via Regulatory 
Circular, the Exchange may announce such determination via Notice. 
Proposed Rule 1.2 makes clear this information will be available on 
C2's website in an easily accessible manner, regardless of the manner 
in which the Exchange announces it. Additionally, certain 
determinations are made more real-time pursuant to electronic message 
received by Trading Permit Holders (e.g., providing intra-day relief 
for parameter settings in in price protection mechanisms described in 
proposed Rule 6.14, Interpretation and Policy .01, other determinations 
related to need to maintain fair and orderly market). This single rule 
simplifies the Rules by eliminating the need to repeatedly state in the 
rules how the Exchange will announce determinations.\24\
---------------------------------------------------------------------------

    \24\ Proposed Rule 1.2 is substantively the same as C2 Rule 1.2.
---------------------------------------------------------------------------

    The proposed rule change also deletes various Rules that are no 
longer necessary or in use. First, the proposed rule change deletes 
various Rules from Chapter II.\25\ Current Rule 2.1 provides that the 
Board of Directors will have certain specified committees as well as 
other committees it establishes in accordance with the Bylaws and the 
Rules. Current Rule 2.2 provides the Board with the power to review 
Exchange decisions. The Exchange's Bylaws describe all of the Board's 
authority, include its authority to establish committees and to oversee 
the Exchange's activities.\26\ Therefore, Rules 2.1 and 2.2 are 
redundant and unnecessary to include in the Rules, and the proposed 
rule change deletes them. Pursuant to the Bylaws, the Board will 
continue to retain the same authority as provided by these Rules. The 
Exchange notes other options exchanges do not contain similar rules.
---------------------------------------------------------------------------

    \25\ As a result of these deletions, the only remaining Rules in 
Chapter II relate to fees and charges imposed on Trading Permit 
Holders. The proposed rule change therefore renames Chapter II as 
``Fees and Other Charges'' and deletes the different ``parts'' of 
Chapter II that are no longer necessary.
    \26\ See Bylaws Section 3 (providing the Board with, among other 
things, all powers necessary for the management of the business and 
affairs of the Exchange, the authority to exercise all power of the 
Exchange, and the authority make decisions as it deems necessary or 
appropriate) and Article IV (describing committees of the Board).
---------------------------------------------------------------------------

    Current Rule 2.15 describes divisions that the Exchange must have. 
This Rule relates to the corporate and operational structure of the 
Exchange, which is within the authority and discretion of Exchange 
management, and does not relate to the how the Exchange operates or 
regulates its market. Therefore, the proposed rule change deletes this 
rule. Exchange management will continue to have the authority to 
determine the Exchange's corporate structure in the same manner as it 
does today. The Exchange notes other options exchanges not contain 
similar rules.
    Current Rule 2.22 provides the Exchange may, from time to time, fix 
and impose fees and charges other than those provided for by current 
Rule 2.20 to be paid to the Exchange or to an organization designated 
by the Exchange by Trading Permit Holders or by categories of Trading 
Permit Holders with respect to applications, registrations, approvals, 
use of Exchange facilities, or other services or privileges granted. 
However, current Rule 2.20 provides that the Exchange may fix, from 
time to time, fees and charges payable by Trading Permit Holders. This 
provision would include the fees and charges that the Exchange may 
impose pursuant to Rule 2.22, and thus Rule 2.22 is redundant. 
Therefore, the Exchange proposes to delete current Rule 2.22.
    The proposed rule change renumbers the remaining Rules in Chapter 
II--current Rules 2.20, 2.23, 2.24, and 2.51--to be Rules 2.1, 2.2, 
2.3, and 2.4, respectively. The proposed rule change also makes 
nonsubstantive changes to these Rules (including to make the Rules 
plain English and update paragraph lettering). The proposed rule change 
also updates cross-references as necessary throughout the Rules.
    The following rules contain language that the C2 board of directors 
may make certain trading decisions:
     Rules 5.3(b) and Interpretation and Policy .01 and 5.4, 
Interpretation and Policy .01, which state the Board may establish 
guidelines the Exchange considers when evaluating potential underlying 
securities for options transactions, and that the Board may establish 
guidelines to be considered when the Exchange determines whether an 
underlying security previously approved for Exchange option 
transactions no longer meets its requirements for the continuance of 
such approval.\27\
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    \27\ The proposed rule change also deletes the provision in Rule 
5.3(b) that states, in exceptional circumstances, an underlying 
security may be approved by the Exchange even though it does not 
meet all the guidelines. Rule 5.3, Interpretation and Policy .01 
already provides that the guidelines set forth in that 
interpretation and policy must be met except in exception 
circumstances, and therefore the provision in Rule 5.3(b) is 
redundant.
---------------------------------------------------------------------------

     Rules 6.1, 21.10, and 24.6, which states the Board 
determines trading hours and Exchange holidays.\28\
---------------------------------------------------------------------------

    \28\ The proposed rule change also restructures Rule 6.1 to more 
clearly present the Regular and Global Trading Hours for options on 
securities and indexes, as well as identify other Rules that contain 
trading hours for different option products, as well as to make 
nonsubstantive changes (such as making the Rule plain English). 
Additionally, because Rule 6.1 references other Rules related to 
trading hours of different option products, the proposed rule change 
amends certain of those Rules to delete provisions that state those 
Rules replace or supplement Rule 6.1, as those Rules are part of 
Rule 6.1 by reference. See Rule 21.10, 28.9, and 29.11.
---------------------------------------------------------------------------

     Rule 6.6(d), which provides the Board must approve any 
Exchange restriction on the entry of stop, stop-limit, or market-if-
touched orders whenever market conditions warrant, if such restriction 
is to be effective more than two consecutive business days.
     Rule 6.17, which permits the Board to designate persons 
other than the CEO or President to halt or suspend trading and take 
other action if necessary or appropriate for the maintenance of a fair 
and orderly market or the protection of investors, due to emergency 
conditions, and requires the person taking action to notify the Board 
of actions taken pursuant to that Rule.
     Rule 8.7(d)(iv), which states an official designated by 
the Board may call upon a Market-Maker to submit a quote or maintain 
continuous quotes in a series of a class to which the Market-Maker is 
appointed.
     Rule 8.87, which permits the board to establish a 
participation entitlement formula applicable to DPMs.
    These decisions relate to Exchange trading and operations, and thus 
are made by Exchange management, rather than the Board, which generally 
is not involved in determinations related to day-to-day operations of 
the Exchange. Therefore, the proposed rule change modifies these 
provisions to indicate the Exchange or senior Exchange officials, as 
applicable, will make these determinations rather than the Board. The 
Exchange notes pursuant to corresponding C2 and EDGX rules, those 
exchanges or senior exchange officials makes those determinations 
rather than the exchange's board.

[[Page 16707]]

    The proposed rule change deletes the following obsolete rules or 
redundant Rules and related provisions:
     Hybrid 3.0: The Rules currently provide that the Exchange 
has two trading platforms, and the Exchange determines on which 
platform each class of options will trade.\29\ Currently, the Exchange 
has determined that all option classes trade on the Hybrid Trading 
System, and no option classes trade on the Hybrid 3.0 Platform.\30\ The 
Exchange has no intention of trading any option classes on the Hybrid 
3.0 Platform in the future. Therefore, the proposed rule change deletes 
all rule provisions related to and references to the Hybrid 3.0 
Platform, as well as the concept of multiple trading platforms.\31\
---------------------------------------------------------------------------

    \29\ See current Rule 8.14(a).
    \30\ See current Rule 1.1(aaa) (definition of Hybrid Trading 
System and Hybrid 3.0 Platform).
    \31\ See Rules 1.1 (including definitions of Hybrid Trading 
System, Voluntary Professional, Professional, and broker-dealer 
order), 6.1A(b), 6.2(h) and Interpretation and Policy .05, 6.11, 
6.12A(b)(v), 6.13(a), (b)(i)(A)(2) and (C)(1), 6.14A(a)(iii), 
6.43(b), 6.45(c)(i)(C) and Interpretations and Policies .01 through 
.04, 6.53C, Interpretation and Policy .10, 8.3(c)(iii) and (iv), 
8.7, Interpretation and Policy .03 (the proposed rule change 
restructures this Interpretation and Policy, as there is no longer a 
need for separately lettered paragraphs), 8.14(a), (b), and 
Interpretation and Policy .01, 8.15(c) and Interpretation and Policy 
.03, 8.18 (eliminating reference to Market-Makers as ``Hybrid 
Market-Makers,'' as the term Market-Makers is sufficient given that 
all appointed classes are Hybrid classes), 8.83(g), 8.85(e), and 
24.9(d)(6).
---------------------------------------------------------------------------

     Order Book Officials: Recently, the Exchange deleted Rules 
related to Order Book Officials, who were Exchange employees 
responsible for maintaining the book with respect to classes assigned 
to them, effecting proper executions of orders placed with them, 
displaying bids and offers, and monitoring the market for classes 
assigned to them. The Exchange currently has no employees designated 
as, and does not intend to designate any employees as, Order Book 
Officials, as Order Book Official functions are generally obsolete now 
that most trading occurs electronically.\32\ Several references to 
Order Book Officials were inadvertently left in the Rules, and the 
proposed rule change deletes those references.\33\
---------------------------------------------------------------------------

    \32\ Securities Exchange Act Release No. 34-82529 (January 18, 
2018), 83 FR 3372 (January 24, 2018) (SR-CBOE-2018-003).
    \33\ See Rules 3.9, Interpretation and Policy .02, 6.3B, 
Interpretation and Policy .01(c), 6.24, Interpretation and Policy 
.02, 6.46, 6.51, Interpretation and Policy .01, 6.74(a) and (d), 
8.7, Interpretation and Policy .03, 8.17(b), 21.18, 24.13, 
Interpretation and Policy .02, and 29.17.
---------------------------------------------------------------------------

     Quote Indications: Rule 6.1, Interpretation and Policy .05 
permits the Exchange to designate classes and time periods in which 
TPHs may, prior to the scheduled opening rotation of Regular Trading 
Hours, enter option market quote indications based upon the anticipated 
opening price of the security underlying such designated option class. 
The Exchange has not designated, and does not intend to designate, any 
classes in which TPHs may enter these option market quote indications. 
Therefore, the Exchange proposes to delete this Interpretation and 
Policy. TPHs may submit orders and quote prior to the opening rotation 
pursuant to Rule 6.2.
     SAL: Rule 6.13A describes the Simple Auction Liaison 
(``SAL''). SAL is a feature within the System that auctions marketable 
orders for price improvement over the NBBO. Pursuant to current Rule 
6.13A(a), the Exchange has the authority to activate SAL on a class-by-
class basis. Currently, the Exchange has not activated SAL for any 
class, and does not intend to activate it for any class in the future. 
Therefore, the proposed rule change deletes Rule 6.13A, and references 
to that Rule and SAL in various Rules.
     COATS Implementation Language: In 2005, the Exchange 
adopted Rule 6.24 to require TPHs to systematize certain order 
information in connection with the implementation of a consolidated 
order audit trail (``COATS''). Rule 6.24 states the requirements of 
that Rule were to commence on January 10, 2005, except for certain 
classes, for which the requirements of that Rule were to commence on 
March 28, 2005 (as set forth in paragraph (c)). As the requirements of 
Rule 6.24 are in place and applicable to all classes, the proposed rule 
change deletes those provisions.
     Provision Related to Rule 6.13B: Rule 6.47, Interpretation 
and Policy .02 indicates the applicability of Rule 6.47 to Rule 6.13B. 
Rule 6.13B no longer exists, so the proposed rule change deletes that 
Interpretation and Policy.
     Transactions off the Exchange: Rule 19c-3 under the 
Exchange Act describes a rule provision that each national securities 
change must contain regarding the ability of members to engage in 
transactions off an exchange. The proposed rule change adds this 
provision to Interpretation and Policy .01(b). The proposed rule change 
also deletes the introductory language in Interpretation and Policy 
.01, as it is unnecessary. Rules 19c-1 and 19c-3 under the Exchange Act 
only require the Exchange's Rules to include language set forth in 
those Exchange Act Rules. The proposed rule change also amends the 
current language in Interpretation and Policy .01 (proposed paragraph 
(a)) to incorporate terms used throughout the Rules.
     Leg Orders: Rule 6.53C(c)(iv) describes leg order 
functionality, pursuant to which leg orders may be automatically 
generated on behalf of complex orders so that they are represented in 
the individual leg markets. The Exchange has not implemented, and does 
not intend to implement, leg order functionality. Therefore, the 
proposed rule change deletes Rule 6.53C(C)(iv), as well as related 
provisions in current Interpretations and Policies .06, .07, and .12 
and Rule 6.53(x).
     Rules Related to Non-Option Transactions: Currently, the 
Exchange only permits and has trading Rules related to options trading. 
Rules 6.65 and 10.10 through 10.22 relate to transactions in stocks, 
bonds, warrants, and other non-option products. Because these Rules do 
not apply to options trading, the proposed rule change deletes them.
     Brokerage Bills: Current Rules 6.76 and 6.76A describe 
certain payment practices related to amounts due from a customer to a 
broker. The Exchange no longer has a role in the billing brokerage 
services provided to a customer. All provisions related to how the 
Exchange bills Trading Permit Holders are contained in the Fees 
Schedule and Rule 3.23. Therefore, the proposed rule change deletes 
Rules 6.76 and 6.76A.
     Class Quoting Limit: Current Rule 8.3A states the Exchange 
may impose an upper limit on the aggregate number of Market-Makers that 
may quote in each product (the ``CQL''). The Exchange no longer intends 
to impose a limit on the aggregate number of TPHs that may quote 
electronically in each product during a trading session, and thus 
proposes to delete Rule 8.3A.\34\ The current limit for each class is 
50 pursuant to Rule 8.1, Interpretation and Policy .01, and there is no 
product for which the Exchange has increased the CQL, as the current 
number of quoters per class is below this maximum. The Exchange 
represents it has capacity to handle any additional quoters due to the 
elimination of the CQL. The Exchange monitors System capacity in other 
ways, making a CQL no longer necessary.\35\
---------------------------------------------------------------------------

    \34\ The proposed rule change deletes a cross-reference to Rule 
8.3A in Rule 3.1(b)(ii).
    \35\ See, e.g., Rule 6.23B.
---------------------------------------------------------------------------

     RFQ Functionality: Pursuant to Rule 8.14(b).3, the 
Exchange may activate request-for-quote (``RFQ'') functionality in 
index classes, and if it does, Market-Makers would have an obligation 
to respond to a specified percentage of RFQs. The Exchange has

[[Page 16708]]

not activated, and does not intend to activate in the future, this RFQ 
functionality for any index class. Therefore, the proposed rule change 
deletes this provision.
     Trading Crowd Definition: Rule 1.1 defines in-crowd market 
participants. A trading crowd in a pit on the Exchange's trading floor 
today consists of market participants other than Market-Makers. The 
definition of trading crowd in Rule 8.50 is outdated, and therefore the 
proposed rule change deletes this Rule.
    The proposed rule change makes additional nonsubstantive changes 
throughout the Rules, including to make Rules plain English, update 
paragraph lettering and numbering, update cross-references as 
necessary, and add or modify headings and subheadings.
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.\36\ Specifically, the 
Exchange believes the proposed rule change is consistent with the 
Section 6(b)(5) \37\ 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) \38\ requirement that the rules of an exchange not be 
designed to permit unfair discrimination between customers, issuers, 
brokers, or dealers.
---------------------------------------------------------------------------

    \36\ 15 U.S.C. 78f(b).
    \37\ 15 U.S.C. 78f(b)(5).
    \38\ Id.
---------------------------------------------------------------------------

    In particular, the proposed rule change updates certain terms that 
are currently outdated and clarifies applicability of other terms, and 
deletes certain rules that are obsolete, no longer applicable to Cboe 
Options trading, or duplicative, and makes other nonsubstantive 
changes, such as reorganizing rules, updating paragraph lettering and 
numbering, and making rule provisions plain English. The Exchange 
believes this will more clearly identify currently applicable of rules, 
which the Exchange believes removes impediments to and perfects the 
mechanism of a free and open market. The Exchange believes the proposed 
rule change will eliminate confusion regarding which rules apply to 
current trading, which ultimately protects investors and the public 
interest. These changes will have no impact on current trading on Cboe 
Options.

B. Self-Regulatory Organization's Statement on Burden on Competition

    Cboe Options 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 to 
delete rules that no longer apply to Cboe Options trading and make 
other nonsubstantive changes will have no impact on current trading on 
Cboe Options, and thus are not intended to have any impact on 
competition. The proposed rule change eliminates confusion with respect 
to rules applicable to current trading on Cboe Options.

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 \39\ and 
Rule 19b-4(f)(6) \40\ thereunder.\41\ 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.
---------------------------------------------------------------------------

    \39\ 15 U.S.C. 78s(b)(3)(A).
    \40\ 17 CFR 240.19b-4(f)(6).
    \41\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) 
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. 
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

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 [email protected]. Please include 
File Number SR-CBOE-2019-017 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-2019-017. 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-CBOE-2019-017, and

[[Page 16709]]

should be submitted on or before May 13, 2019.
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    \42\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\42\
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-07983 Filed 4-19-19; 8:45 am]
 BILLING CODE 8011-01-P