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Federal Register / Vol. 86, No. 17 / Thursday, January 28, 2021 / Notices with other market participants as soon as possible. In addition, the proposal automates an aspect of the opening process that the Exchange currently has the authority to perform manually.
Therefore, the Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. The Commission hereby designates the proposed rule change to be operative upon filing.24
At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule change should be approved or disapproved.

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 Commissions Public Reference Room, 100 F Street NE, Washington, DC 205491090 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. 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 SRC22021001 and should be submitted on or before February 18, 2021.

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:

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.25
J. Matthew DeLesDernier, Assistant Secretary.

Electronic Comments Use the Commissions internet comment form http www.sec.gov/
rules/sro.shtml; or Send an email to rule-comments@
sec.gov. Please include File Number SR
C22021001 on the subject line.

SECURITIES AND EXCHANGE
COMMISSION

Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 205491090.
All submissions should refer to File Number SRC22021001. 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 Commissions 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 24 For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rules impact on efficiency, competition, and capital formation. See 15 U.S.C. 78cf.

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Release No. 3490967; File No. SRCBOE
2021005

Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating To Amend Its Opening Process for Simple Orders January 22, 2021.

Pursuant to Section 19b1 of the Securities Exchange Act of 1934 the Act,1 and Rule 19b4 thereunder,2
notice is hereby given that on January 11, 2021, 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 noncontroversial proposed rule change pursuant to Section 19b3Aiii of the Act 3 and Rule 19b4f6
thereunder.4 The Commission is 25 17

CFR 200.303a12.
U.S.C. 78sb1.
2 17 CFR 240.19b4.
3 15 U.S.C. 78sb3Aiii.
4 17 CFR 240.19b4f6.
1 15

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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 opening process for simple orders.
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/CBOELegal RegulatoryHome.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 Exchange proposes to amend Rule 5.31 regarding its opening process for simple orders. Currently, following the occurrence of an opening rotation trigger pursuant to Rule 5.31d, the System conducts an opening rotation for an option series. Following the opening rotation trigger, the System conducts the Maximum Composite Width Check pursuant to Rule 5.31e1 to determine if a series is eligible to open. If the Composite Market 5 of a series is not crossed, and the Composite Width 6 of 5 The term Composite Market means the market for a series comprised of 1 the higher of the thencurrent best appointed Market-Maker bulk message bid on the Exchange and the away best bid ABB
if there is an ABB and 2 the lower of the thencurrent best appointed Market-Maker bulk message offer on the Exchange and the away best offer ABO if there is an ABO. The term Composite Bid Offer means the bid offer used to determine the Composite Market. See Rule 5.31a.
6 The term Composite Width means the width of the Composite Market i.e., the width between
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