Notice2023-15771
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 Make Permanent the Operation of the Program That Allows the Exchange to List P.M.-Settled Third Friday-of-the-Month S&P 500 Stock Index Options (“SPX”) Series
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
July 26, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 142 (Wednesday, July 26, 2023)</title>
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[Federal Register Volume 88, Number 142 (Wednesday, July 26, 2023)]
[Notices]
[Pages 48278-48279]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-15771]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-97956; File No. SR-CBOE-2023-005]
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 Make Permanent the Operation of the
Program That Allows the Exchange to List P.M.-Settled Third Friday-of-
the-Month S&P 500 Stock Index Options (``SPX'') Series
July 20, 2023.
On January 6, 2023, Cboe Exchange, Inc. (``Exchange'' or ``Cboe
Options'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to make permanent the operation of its pilot
program (``Program'') that permits the Exchange to list p.m.-settled
third Friday-of-the-month SPX options (``SPXPM''). The proposed rule
change was published for comment in the Federal Register on January 24,
2023.\3\
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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. 96703 (January 18,
2023), 88 FR 4265.
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On March 7, 2023, pursuant to Section 19(b)(2) of the Act,\4\ the
Commission designated a longer period within which to approve the
proposed rule change, disapprove the proposed rule change, or institute
proceedings to determine whether to disapprove the proposed rule
change.\5\ On March 17, 2023, the Exchange filed Amendment No. 1 to the
proposed rule change (``Amendment No. 1'').\6\ On April 24, 2023, the
Commission instituted proceedings to determine whether to approve or
disapprove the proposed rule change and published Amendment No. 1 for
notice and comment.\7\
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\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 97063, 88 FR 15476
(March 13, 2023).
\6\ Amendment No. 1 is available at: <a href="https://www.sec.gov/comments/sr-cboe-2023-005/srcboe2023005.htm">https://www.sec.gov/comments/sr-cboe-2023-005/srcboe2023005.htm</a>.
\7\ See Securities Exchange Act Release No. 97367 (April 24,
2023), 88 FR 26366 (April 28, 2023).
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Section 19(b)(2) of the Exchange 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
[[Page 48279]]
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 reasons
for such determination. The proposed rule change was published for
notice and comment in the Federal Register on January 24, 2023.\9\ The
180th day after publication of the proposed rule change is July 23,
2023. The Commission is extending the time period for approving or
disapproving the proposed rule change for an additional 60 days.
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\8\ 15 U.S.C. 78s(b)(2).
\9\ See supra note 3 and accompanying text.
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The Commission finds it 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 and the issues raised therein. Accordingly, the Commission,
pursuant to Section 19(b)(2) of the Exchange Act,\10\ designates
September 21, 2023, as the date by which the Commission shall either
approve or disapprove the proposed rule change (File No. SR-CBOE-2023-
005).
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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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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-15771 Filed 7-25-23; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on July 26, 2023.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.