Notice2024-15398
Self-Regulatory Organizations; Cboe BYX 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 Modify Rule 11.24 To Introduce an Enhanced RPI Order and Expand Its Retail Price Improvement Program To Include Securities Priced Below $1.00
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 15, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 135 (Monday, July 15, 2024)</title>
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[Federal Register Volume 89, Number 135 (Monday, July 15, 2024)]
[Notices]
[Pages 57441-57442]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-15398]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-100467; File No. SR-CboeBYX-2023-020]
Self-Regulatory Organizations; Cboe BYX 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 Modify Rule 11.24 To Introduce an
Enhanced RPI Order and Expand Its Retail Price Improvement Program To
Include Securities Priced Below $1.00
July 9, 2024.
On December 27, 2023, Cboe BYX Exchange, Inc. (``BYX'' or the
``Exchange'') 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 modify Rule 11.24 to introduce an Enhanced RPI
Order and expand its Retail Price Improvement program to include
securities priced below $1.00. The proposed rule change was published
for comment in the Federal Register on January 17, 2024.\3\ On February
27, 2024, 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 6, 2024, the Exchange submitted Amendment No. 1 to the proposed
rule change, which replaced and superseded the proposed rule change as
originally filed.\6\ On April 16, 2024, the Commission published notice
of Amendment No. 1 and instituted proceedings under
[[Page 57442]]
Section 19(b)(2)(B) of the Act \7\ to determine whether to approve or
disapprove the proposed rule change, as modified by Amendment No. 1.\8\
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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. 99311 (Jan. 10,
2024), 89 FR 2993 (``Notice''). To date, the Commission has received
no comments on the proposed rule change. Comments received on the
proposed rule change are available at: <a href="https://www.sec.gov/comments/sr-cboebyx-2023-020/srcboebyx2023020.htm">https://www.sec.gov/comments/sr-cboebyx-2023-020/srcboebyx2023020.htm</a>.
\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 99610, 89 FR 15621
(Mar. 4, 2024). The Commission designated April 16, 2024 as the date
by which the Commission shall approve or disapprove, or institute
proceedings to determine whether to disapprove, the proposed rule
change.
\6\ In Amendment No. 1, the Exchange amended the proposed rule
change to provide additional examples, justification and support for
its proposal and made certain changes to the proposed rule text. The
full text of Amendment No. 1 is available on the Commission's
website at: <a href="https://www.sec.gov/comments/sr-cboebyx-2023-020/srcboebyx2023020-442119-1127142.pdf">https://www.sec.gov/comments/sr-cboebyx-2023-020/srcboebyx2023020-442119-1127142.pdf</a>.
\7\ 15 U.S.C. 78s(b)(2)(B).
\8\ See Securities Exchange Act Release No. 99965 (Apr. 16,
2024), 89 FR 29389 (Apr. 22, 2024).
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Section 19(b)(2) of the Act \9\ 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 the 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 January 17, 2024.\10\ The 180th day after publication of the Notice
is July 15, 2024. The Commission is extending the time period for
approving or disapproving the proposed rule change for an additional 60
days.
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\9\ 15 U.S.C. 78s(b)(2).
\10\ 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 and the issues raised therein. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\11\ designates
September 13, 2024, as the date by which the Commission shall either
approve or disapprove the proposed rule change, as modified by
Amendment No. 1 (File No. SR-CboeBYX-2023-020).
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\11\ 15 U.S.C. 78s(b)(2).
\12\ 17 CFR 200.30-3(a)(57).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-15398 Filed 7-12-24; 8:45 am]
BILLING CODE 8011-01-P
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