Notice2021-11607
Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Its Rules Regarding the Minimum Increments for Electronic Bids and Offers and Exercise Prices of Certain FLEX Options and Clarify in the Rules How the System Ranks FLEX Option Bids and Offers for Allocation Purposes
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 3, 2021
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 86 Issue 105 (Thursday, June 3, 2021)</title>
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[Federal Register Volume 86, Number 105 (Thursday, June 3, 2021)]
[Notices]
[Pages 29817-29818]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-11607]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-92040; File No. SR-CBOE-2020-106]
Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of
Designation of a Longer Period for Commission Action on Proceedings To
Determine Whether To Approve or Disapprove a Proposed Rule Change, as
Modified by Amendment No. 1, To Amend Its Rules Regarding the Minimum
Increments for Electronic Bids and Offers and Exercise Prices of
Certain FLEX Options and Clarify in the Rules How the System Ranks FLEX
Option Bids and Offers for Allocation Purposes
May 27, 2021.
On November 16, 2020, Cboe Exchange, Inc. filed with the Securities
and Exchange Commission (``Commission''), pursuant to Section 19(b)(1)
of the Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule
19b-4 thereunder,\2\ a proposed rule change to amend its rules
regarding the minimum increments for electronic bids and offers and
exercise prices of certain FLEX options and clarify how the system
ranks FLEX option bids and offers for allocation purposes. On November
30, 2020, the Exchange filed Amendment No. 1 to the proposed rule
change, which amended and replaced the proposed rule change in its
entirety. The Commission published notice of the proposed rule change,
as modified by Amendment No. 1, in the Federal Register on December 4,
2020.\3\ On January 14, 2021, pursuant to Section 19(b)(2) of the
Exchange Act,\4\ the Commission designated a longer period within which
to approve the proposed rule change, disapprove the proposed
[[Page 29818]]
rule change, or institute proceedings to determine whether to
disapprove the proposed rule change.\5\ On March 4, 2021, the
Commission instituted proceedings under Section 19(b)(2)(B) of the
Exchange Act \6\ to determine whether to approve or disapprove the
proposed rule change.\7\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 90536 (November 30,
2020), 85 FR 78381 (``Notice''). Comments received on the proposed
rule change are available on the Commission's website at: <a href="https://www.sec.gov/comments/sr-cboe-2020-106/srcboe2020106.htm">https://www.sec.gov/comments/sr-cboe-2020-106/srcboe2020106.htm</a>.
\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 90926, 86 FR 6710
(January 22, 2021). The Commission designated March 4, 2021, as the
date by which the Commission shall approve or disapprove, or
institute proceedings to determine whether to disapprove, the
proposed rule change.
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 91257, 86 FR 13769
(March 10, 2021).
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Section 19(b)(2) of the Act \8\ provides that, after initiating
proceedings, the Commission shall issue an order approving or
disapproving the proposed rule change not later than 180 days after the
date of publication of notice of filing of the proposed rule change.
The Commission may extend the period for issuing an order approving or
disapproving the proposed rule change, however, by not more than 60
days if the Commission determines that a longer period is appropriate
and publishes the reasons for such determination. The proposed rule
change was published for comment in the Federal Register on December 4,
2020.\9\ The 180th day after publication of the Notice is June 2, 2021.
The Commission is extending the time period for approving or
disapproving the proposal for an additional 60 days.
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\8\ 15 U.S.C. 78s(b)(2).
\9\ See supra note 3.
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The Commission finds that it is appropriate to designate a longer
period within which to issue an order approving or disapproving the
proposed rule change so that it has sufficient time to consider the
proposed rule change, as modified by Amendment No. 1. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\10\ designates
August 1, 2021, as the date by which the Commission shall either
approve or disapprove or the proposed rule change (File Number SR-CBOE-
2020-106), as modified by Amendment No. 1.
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\10\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-11607 Filed 6-2-21; 8:45 am]
BILLING CODE 8011-01-P
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