Notice2024-22021
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove Proposed Rule Change To Amend the Exchange's Fees for Top of PHLX Options (TOPO), PHLX Orders, and TOPO Plus Orders
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
September 26, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 187 (Thursday, September 26, 2024)</title>
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[Federal Register Volume 89, Number 187 (Thursday, September 26, 2024)]
[Notices]
[Page 78928]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-22021]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-101115; File No. SR-Phlx-2024-15]
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of
Designation of Longer Period for Commission Action on Proceedings To
Determine Whether To Approve or Disapprove Proposed Rule Change To
Amend the Exchange's Fees for Top of PHLX Options (TOPO), PHLX Orders,
and TOPO Plus Orders
September 20, 2024.
On March 20, 2024, Nasdaq PHLX LLC (``Phlx'' or ``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
(File Number SR-Phlx-2024-15) to increase fees for certain market data
products (``Proposal''). The proposed rule change was immediately
effective upon filing with the Commission pursuant to Section
19(b)(3)(A) of the Act.\3\ The proposed rule change was published for
comment in the Federal Register on March 28, 2024.\4\ On May 16, 2024,
the Commission issued an order temporarily suspending the proposed rule
change pursuant to Section 19(b)(3)(C) of the Act \5\ and
simultaneously instituting proceedings under Section 19(b)(2)(B) of the
Act \6\ to determine whether to approve or disapprove the proposed rule
change (``Order Instituting Proceedings'').\7\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A). A proposed rule change may take
effect upon filing with the Commission if it is designated by the
exchange as ``establishing or changing a due, fee, or other charge
imposed by the self-regulatory organization on any person, whether
or not the person is a member of the self-regulatory organization.''
15 U.S.C. 78s(b)(3)(A)(ii).
\4\ See Securities Exchange Act Release No. 99841 (March 22,
2024), 89 FR 21648 (``Notice'').
\5\ 15 U.S.C. 78s(b)(3)(C).
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 100160, 89 FR 45036
(May 22, 2024). The Commission has received one comment letter on
the proposed rule change, as well as a response from the Exchange to
the Order Instituting Proceedings. Comments received on the Proposal
are available at: <a href="https://www.sec.gov/comments/sr-phlx-2024-15/srphlx202415.htm">https://www.sec.gov/comments/sr-phlx-2024-15/srphlx202415.htm</a>.
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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 notice and comment in the Federal Register on
March 28, 2024.\9\ September 24, 2024 is 180 days from that date, and
November 23, 2024 is 240 days from that date.
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\8\ 15 U.S.C. 78s(b)(2).
\9\ See Notice, supra note 4.
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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 its comments. Accordingly, the Commission, pursuant to
Section 19(b)(2) of the Act,\10\ designates November 23, 2024 as the
date by which the Commission shall either approve or disapprove the
proposed rule change (File No. SR-Phlx-2024-15).
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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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Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-22021 Filed 9-25-24; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on September 26, 2024.
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