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Federal Register / Vol. 86, No. 16 / Wednesday, January 27, 2021 / Notices
subparagraph f2 of Rule 19b4 18
thereunder, because it establishes a due, fee, or other charge imposed by the Exchange.
At any time within 60 days of the filing of such 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 under Section 19b2B 19 of the Act to determine whether the proposed rule change should be approved or disapproved.
IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act.
Comments may be submitted by any of the following methods:

khammond on DSKJM1Z7X2PROD with NOTICES

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
NYSEAMER202103 on the subject line.
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 SRNYSEAMER202103. 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 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 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. 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 SRNYSEAMER202103, and should be submitted on or before February 17, 2021.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.20
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202101727 Filed 12621; 8:45 am BILLING CODE 801101P

SECURITIES AND EXCHANGE
COMMISSION
Release No. 3490964; File No. SR
CboeEDGA2021004

Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish a Monthly Fee Assessed on Members MPIDs January 21, 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 13, 2021, Cboe EDGA Exchange, Inc.
the Exchange 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 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 EDGA Exchange, Inc. the Exchange or EDGA Equities proposes to amend its fee schedule to establish a fee in connection with a Members Market Participant Identifiers MPID. The text of the 20 17

CFR 200.303a12.
U.S.C. 78sb1.
2 17 CFR 240.19b4.

18 17

CFR 240.19b4f2.
19 15 U.S.C. 78sb2B.

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proposed rule change is provided in Exhibit 5.
The text of the proposed rule change is also available on the Exchanges website http markets.cboe.com/us/
equities/regulation/rule_filings/edga/, 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 its Fee Schedule to adopt a monthly fee assessed on Members MPIDs.3
The Exchange first notes that it operates in a highly competitive market in which market participants can readily direct order flow to competing venues if they deem fee levels at a particular venue to be excessive or incentives to be insufficient. More specifically, the Exchange is only one of 16 registered equities exchanges, as well as a number of alternative trading systems and other off-exchange venues that do not have similar self-regulatory responsibilities under the Exchange Act, to which market participants may direct their order flow. Based on publicly available information,4 no single registered equities exchange has more than 16% of consolidated equity market share and currently the Exchange represents approximately 1.0% of the U.S. equities market. Thus, in such a low-concentrated and highly competitive market, no single equities exchange possesses significant pricing power in the execution of order flow.
The Exchange further notes that broker3 The Exchange initially filed the proposed fee changes January 4, 2021 SRCboeEDGA2021
002. On January 13, 2021, the Exchange withdrew that filing and submitted this proposal.
4 See Cboe Global Markets, U.S. Equities Market Volume Summary, Month-to-Date January 13, 2021, available at https markets.cboe.com/us/
equities/market_statistics/.

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