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Federal Register / Vol. 86, No. 35 / Wednesday, February 24, 2021 / Notices If the Power Threshold or Cabinet Threshold is reached, the Exchange will cease offering or providing new PNU cabinets to all Users and Users will not be permitted to convert a currently used dedicated cabinet to a PNU cabinet.
When unallocated power capacity is above the Power Threshold, the Exchange will discontinue the Combined Limits. If at that time the unallocated cabinet inventory is 40 or fewer cabinets, the Cabinet Limits would enter into effect.
c. Applicability. If the Cabinet Threshold is reached before the Power Threshold, the Cabinet Limits will be in effect until the Power Threshold is reached, after which the Combined Limits will apply.

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Proposed Amendments to General Note 8
The Exchange proposes to amend General Note 8 as follows additions italicized, deletions in brackets:
8. Cabinet and Combined Waitlists.
a. Cabinet Waitlist. Unless a Combined Waitlist is in effect, tThe Exchange will create a cabinet waitlist Cabinet Waitlist if the available cabinet inventory is zero, or a User requests, in writing, a number of cabinets that, if provided, would cause the available inventory to be zero. The Exchange will place Users seeking cabinets on a Cabinet wWaitlist, as follows:
Users with PNU cabinets will not be required to either convert their PNU cabinets into dedicated cabinets or relinquish their PNU cabinets in accordance with the measures set forth in General Note 7a, above. placed on the waitlist if the User could meet its new cabinet request by converting its PNU cabinets to dedicated cabinets. A User will only be placed on the waitlist for the portion of its new cabinet request that exceeds its existing PNU
cabinets, subject to the Purchasing Limitations.
A User will be placed on the Cabinet wWaitlist based on the date its signed order is received. A User may only have one order for new cabinets on the Cabinet wWaitlist at a time, and the order is subject to the PurchasingCabinet Limits. If a User changes the size of its order while it is on the Cabinet Waitlist, it will maintain its place on the Cabinet Waitlist, and will remain subject to the Cabinet Limits.
As cabinets become available, the Exchange will offer them to the User at the top of the Cabinet wWaitlist. If the Users order is completed, it will be removed from the Cabinet wWaitlist. If the Users order is not completed, it will remain at the top of the Cabinet wWaitlist.
A User will be removed from the Cabinet wWaitlist a at the Users request or b if the User turns down an offer of a cabinet of the same size it requested in its order. If the Exchange offers the User a cabinet of a different size than the User requested in its order, the User may turn down the offer and remain at the top of the Cabinet wWaitlist until its order is completed.
A User that is removed from the Cabinet wWaitlist but subsequently submits a new written order for cabinets will be added back to the bottom of the Cabinet wWaitlist.

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When unallocated cabinet inventory is more than 10 cabinets, the Exchange will cease use of the Cabinet wWaitlist.
b. Combined Waitlist. The Exchange would create a power and cabinet waitlist Combined Waitlist if the unallocated power capacity is zero, or if a User requests, in writing, an amount of power whether power allocated to a Standard Cabinet or additional power that, if provided, would cause the unallocated power capacity to be below zero. The Exchange would place Users seeking cabinets or power on the Combined Waitlist, as follows:
All Users with PNU cabinets will be required to either convert their PNU cabinets into dedicated cabinets or relinquish their PNU cabinets in accordance with the measures set forth in General Note 7b, above.
If a Cabinet Waitlist exists when the requirements to create a Combined Waitlist are met, the Cabinet Waitlist will automatically convert to the Combined Waitlist. If a Combined Waitlist exists when the requirements to create a Cabinet Waitlist are met, no new waitlist will be created, and the Combined Waitlist will continue in effect.
A User will be placed on the Combined Waitlist based on the date its signed order for cabinets and/or additional power is received.
A User may only have one order for new cabinets and/or additional power on the Combined Waitlist at a time, and the order would be subject to the Combined Limits. If a User changes the size of its order while it is on the Combined Waitlist, it will maintain its place on the Combined Waitlist, and will remain subject to the Combined Limits.
As additional power and/or cabinets become available, the Exchange will offer them to the User at the top of the Combined Waitlist. If the Users order is completed, the order will be removed from the Combined Waitlist. If the Users order is not completed, it will remain at the top of the Combined Waitlist.
A User will be removed from the Combined Waitlist a at the Users request;
b if the User turns down an offer that is the same as its order e.g., the offer includes cabinets of the same size and/or the amount of additional power that the User requested in its order. If the Exchange offers the User an offer that is different than its order, the User may turn down the offer and remain at the top of the Combined Waitlist until its order is completed.
A User that is removed from the Combined Waitlist but subsequently submits a new written order for cabinets and/or additional power will be added back to the bottom of the waitlist.
If the Combined Waitlist is in effect, when unallocated power capacity in colocation is at 100 kW, the Exchange will cease use of the waitlist. If at that time the unallocated cabinet inventory is 10 or fewer cabinets, the Cabinet Limits would enter into effect.

The proposed change would apply the same way to all types and sizes of market participants. As is currently the case, the purchase of any colocation service is completely voluntary and the
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Price List is applied uniformly to all Users. The proposed change is not otherwise intended to address any other issues relating to co-location services and/or related fees, and the Exchange is not aware of any problems that Users would have in complying with the proposed change.
2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6b of the Act,13 in general, and furthers the objectives of Sections 6b4 and 5 of the Act,14 in particular, because it provides for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. In addition, it is designed 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 mechanisms of, a free and open market and a national market system and, in general, to protect investors and the public interest and because it is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers.
The Proposed Rule Change Is Reasonable and Equitable The Exchange believes that the proposed rule change is reasonable and equitable for the following reasons.
The Exchange believes that User demand for power will continue. The Exchange is currently working to expand the amount of power and number of cabinets available in colocation. Nevertheless, the Exchange believes that it would be reasonable for it to put in place the Proposed Procedures to establish the allocation of power and cabinets on an equitable basis, consistent with the Established Procedures. The Proposed Procedures would establish a rational, objective procedure that would be applied uniformly by the Exchange to all Users that requested new cabinets or Additional Power.
The Exchange believes that integrating the procedures for the allocation of power with the Existing Procedures would be reasonable, because cabinets are provided with power. Having both power and cabinets covered by the Proposed Procedures would ensure that the procedures for all 13 15
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