Statement Summary
The Cboe EDGA Exchange, Inc. has proposed a rule change to amend Rule 13.4(a) regarding the public disclosure of data sources used in order handling, routing, execution, and compliance processes. This amendment reflects the name change of NYSE Chicago, Inc. to NYSE Texas, Inc. The proposed change is conforming and non-substantive, aiming to enhance clarity and reduce confusion for investors and market participants by accurately naming the data sources used. The Exchange believes that the change aligns with the goals of the Securities Exchange Act of 1934, promoting transparency and protecting investors. The Commission has deemed the proposed rule effective immediately upon filing, understanding it does not impose significant impacts on investor protection or market competition. Interested parties are invited to submit comments regarding the rule change.
Original Statement
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-103120; File No. SR-CboeEDGA-2025-014]
Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Rule 13.4(a)
May 23, 2025
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the “Act”), and Rule 19b-4 thereunder, notice is hereby given that on May 15, 2025, Cboe EDGA Exchange, Inc. (the “Exchange” or “EDGA”) 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.
Proposed Rule Change Overview
Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change
Cboe EDGA Exchange, Inc. (the “Exchange” or “EDGA”) proposes to amend Rule 13.4(a) regarding the public disclosure of the sources of data that the Exchange utilizes when performing: (i) order handling; (ii) order routing; (iii) order execution; and (iv) related compliance processes to reflect the name change of NYSE Chicago, Inc. to NYSE Texas, Inc. 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 and at the Commission’s Public Reference Room.
Purpose and Statutory Basis
Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change
Purpose
The Exchange proposes to update Rule 13.4(a) regarding the public disclosure of the sources of data that the Exchange utilizes when performing: (i) order handling; (ii) order routing; (iii) order execution; and (iv) related compliance processes to reflect the recent name change of NYSE Chicago, Inc. to NYSE Texas, Inc.
On February 28, 2025, NYSE Chicago filed with the Commission a proposal to convert from a corporation organized under the laws of the state of Delaware to one organized under the laws of the state of Texas and changed its name from NYSE Chicago, Inc. to NYSE Texas, Inc.
The Exchange accordingly proposes a conforming change to its rules to replace the name of NYSE Chicago, Inc. with NYSE Texas, Inc. Specifically, the Exchange proposes to replace one reference to “Chicago” in Rule 13.4(a) with “Texas.” The proposed changes are conforming and non-substantive in nature.
Statutory Basis
The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 and the rules and regulations thereunder applicable to the Exchange, particularly the requirements of Section 6(b) of the Act. The proposed rule change aims to prevent fraudulent and manipulative acts and practices, promote just and equitable principles of trade, and protect investors.
Burden on Competition
The Exchange 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 primarily updates the Exchange’s rules to reflect the name change associated with a source of data utilized.
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
• Send an email to rule-comments - 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-CboeEDGA-2025-014. The Commission will post all comments on the Commission’s internet website.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.
Sherry R. Haywood,
Assistant Secretary.
