Notice2024-29918
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend FLEX Floor Trading
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
December 18, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 243 (Wednesday, December 18, 2024)</title>
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[Federal Register Volume 89, Number 243 (Wednesday, December 18, 2024)]
[Notices]
[Pages 103002-103003]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-29918]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-101889; File No. SR-Phlx-2024-51]
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of
Designation of a Longer Period for Commission Action on a Proposed Rule
Change To Amend FLEX Floor Trading
December 12, 2024.
On October 8, 2024, Nasdaq PHLX LLC 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: (i) amend Options 8, Section
34, FLEX Trading to clarify certain functionality; (ii) list p.m.-
settled FLEX Index Options whose exercise settlement value is derived
from closing prices on the last trading day prior to expiration that
expire on or within two business days of a third Friday-of-the-month
expiration day for a non-FLEX Option; and (iii) permit FLEX Options on
certain Exchange-Traded Funds to be settled by delivery in cash if the
underlying security meets prescribed criteria and set forth the
applicable position and exercise limits for these options; and (iv)
require that position and exercise limits for FLEX Options be
aggregated with non-FLEX options in certain circumstances. The proposed
rule change was published for comment in the Federal Register on
October 29, 2024.\3\ The Commission has received no comment letters on
the proposed rule change.
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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. 101413 (October 23,
2024), 89 FR 86007.
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Section 19(b)(2) of the Act \4\ provides that within 45 days of the
publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding, or as to which the self-regulatory organization
consents, the Commission will either approve the proposed rule change,
disapprove the
[[Page 103003]]
proposed rule change, or institute proceedings to determine whether the
proposed rule change should be disapproved. The 45th day after
publication of the notice for this proposed rule change is December 13,
2024. The Commission is extending this 45-day time period.
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\4\ 15 U.S.C. 78s(b)(2).
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The Commission finds it appropriate to designate a longer period
within which to take action on the proposed rule change, so that it has
sufficient time to consider the proposed rule change. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates
January 27, 2025, as the date by which the Commission shall either
approve or disapprove, or institute proceedings to determine whether to
disapprove, the proposed rule change (File No. SR-Phlx-2024-51).
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\5\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
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\6\ 17 CFR 200.30-3(a)(31).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-29918 Filed 12-17-24; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on December 18, 2024.
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.