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Federal Register / Vol. 86, No. 137 / Wednesday, July 21, 2021 / Notices allowed the public 60 days to submit comments. The Commission received no comments.
Written comments continued to be invited on: a Whether this collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;
b the accuracy of the agencys estimate of the burden imposed by 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.
The public may view background documentation for this information collection at the following website:
www.reginfo.gov. Find this particular information collection by selecting Currently under 30-day ReviewOpen for Public Comments or by using the search function. Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to i www.reginfo.gov/public/do/
PRAMain and ii David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov.
Comments must be submitted to OMB
within 30 days of this notice.
Dated: July 15, 2021.
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202115428 Filed 72021; 8:45 am BILLING CODE 801101P

SECURITIES AND EXCHANGE
COMMISSION
Release No. 3492420; File No. SRCBOE
2021040

Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Rules Relating to Trading Halts During the Global Trading Hours Session
jbell on DSKJLSW7X2PROD with NOTICES

July 15, 2021.

Pursuant to Section 19b1 of the Securities Exchange Act of 1934
Act,1 and Rule 19b4 thereunder,2
notice is hereby given that on July 8, 2021, Cboe Exchange, Inc. Exchange or Cboe Options filed with the 1 15
2 17

Securities and Exchange Commission Commission the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Exchange filed the proposal as a noncontroversial proposed rule change pursuant to Section 19b3Aiii of the Act 3 and Rule 19b4f6
thereunder.4 The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.
I. Self-Regulatory Organizations Statement of the Terms of Substance of the Proposed Rule Change Cboe Exchange, Inc. the Exchange or Cboe Options proposes to amend its rules relating to trading halts during the Global Trading Hours session. The text of the proposed rule change is provided in Exhibit 5.
The text of the proposed rule change is also available on the Exchanges website http www.cboe.com/
AboutCBOE/
CBOELegalRegulatoryHome.aspx, at the Exchanges Office of the Secretary, and at the Commissions Public Reference Room.
II. Self-Regulatory Organizations 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 Organizations Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of the proposed rule change is to automate the Exchanges process for the halting and resumption of trading in certain circumstances during the Exchanges Global Trading Hours GTH session.
Background By way of background, Cboe Rule 5.20
describes the Exchanges process for determining if and when to halt trading in any security, including the process
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for the resumption of trading after a halt. Rule 5.20a provides that any two Floor Officials, in consultation with a designated senior executive officer of the Exchange, may halt trading in any security in the interests of a fair and orderly market and to protect investors.
Rule 5.20a also sets forth various factors that may be considered in making the forgoing determination, including whether there has been an activation of price limits on futures exchanges or the halt of trading in related futures with respect to index options.5 Additionally, Rule 5.20b provides that trading in a security that has been the subject of a halt under subparagraph a may be resumed as described in Rule 5.31g 6 upon a determination by two Floor Officials, in consultation with a designated senior executive officer of the Exchange, that the interests of a fair and orderly market are best served by a resumption of trading. Among the factors to be considered in making this determination are whether the conditions which led to the halt are no longer present.
By way of further background, the Chicago Mercantile Exchange CME
recently amended its rules to 1 adopt Dynamic Special Price Fluctuation Limits and trading halt rules for certain CME equity index futures 7 during CMEs Overnight Trading Hours session OTH 8 and 2 modify its hard OTH
Price Limits.9 Specifically, CME
amended its rules to provide that if a contract market moves beyond the lower or above the upper dynamic price fluctuation limit during OTH currently set at 3.5%, CME will trigger a Dynamic Circuit Breaker and halt trading for two 5 See
Cboe Options Rule 5.20a6.
Options Rule 5.31g governs the opening auction process that follows a trading halt.
Particularly, it provides that the Exchange will open series using the same opening auction process described in Rule 5.31 following a trading halt in the class declared by the Exchange pursuant to Rule 5.20, except: 1 The Queuing Period will begin immediately when the Exchange halts trading in the class; 2 if a User has orders or quotes resting on the Book at the time of a trading halt, the System queues those orders and quotes in the Queuing Book for participation in the opening rotation following the trading halt, unless the User entered instructions to cancel its resting orders and quotes;
and 3 the System will initiate the opening rotation for a class upon the Exchanges determination to resume trading pursuant to Rule 5.20. See Cboe Options Rule 5.31g.
7 See CME Rule 589, Special Price Fluctuation Limits and Daily Price Limits Table, which provides the Dynamic Price Fluctuation Limits apply to, among other products, S&P 500 Futures, E-mini S&P Futures, and Micro E-mini S&P 500
Index Futures.
8 CMEs current OTH hours are from 6:00 p.m.
9:30 a.m. EST.
9 See CME Submission No. 20392.
6 Cboe
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