Notice2025-13721
Self-Regulatory Organizations; Investors Exchange LLC; 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. 3, To Adopt Rules To Govern the Trading of Options on the Exchange for a New Facility Called IEX Options
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 22, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 138 (Tuesday, July 22, 2025)</title>
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[Federal Register Volume 90, Number 138 (Tuesday, July 22, 2025)]
[Notices]
[Pages 34532-34533]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-13721]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-103480; File No. SR-IEX-2025-02]
Self-Regulatory Organizations; Investors Exchange LLC; 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. 3, To Adopt Rules To Govern the Trading of
Options on the Exchange for a New Facility Called IEX Options
July 17, 2025.
On January 10, 2025, the Investors Exchange LLC (``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
adopt rules to govern the trading of options on IEX Options LLC, a new
facility of the Exchange that would be established in a separate rule
filing. The proposed rule change was published for comment in the
Federal Register on January 21, 2025.\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. 102190 (Jan. 14,
2025), 90 FR 7205 (``Notice''). Comments on the proposed rule change
are available at <a href="https://www.sec.gov/comments/sr-iex-2025-02/sriex202502.htm">https://www.sec.gov/comments/sr-iex-2025-02/sriex202502.htm</a>.
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On March 6, 2025, 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 12, 2025, the Exchange filed Amendment No. 1 to the
proposed rule change.\6\ The proposed rule change, as modified by
Amendment No. 1, was published for comment in the Federal Register on
March 19, 2025.\7\ On April 21, 2025, the Commission instituted
proceedings under Section 19(b)(2)(B) of the Act \8\ to determine
whether to approve or disapprove the proposed rule change, as modified
by Amendment No. 1.\9\
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\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 102536, 90 FR 11866
(Mar. 12, 2025). The Commission designated April 21, 2025, as the
date by which the Commission shall approve or disapprove, or
institute proceedings to determine whether to disapprove, the
proposed rule change.
\6\ Amendment No. 1 is publicly available on the Commission's
website at: <a href="https://www.sec.gov/comments/sr-iex-2025-02/sriex202502-580115-1667463.pdf">https://www.sec.gov/comments/sr-iex-2025-02/sriex202502-580115-1667463.pdf</a>.
\7\ See Securities Exchange Act Release No. 102663 (Mar. 13,
2025), 90 FR 12890.
\8\ 15 U.S.C. 78s(b)(2)(B).
\9\ See Securities Exchange Act Release No. 102895, 90 FR 17474
(Apr. 25, 2025).
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On June 13, 2025, the Exchange filed Amendment No. 2 to the
proposed rule change, which it withdrew to correct a non-substantive
pagination issue and refiled as Amendment No. 3 on June 17, 2025.\10\
The proposed rule change, as modified by Amendment No. 3, was published
for comment in the Federal Register on June 24, 2025.\11\ The
Commission has received comments on the proposed rule change.\12\
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\10\ Amendment No. 3 is publicly available on the Commission's
website at <a href="https://www.sec.gov/comments/sr-iex-2025-02/sriex202502-614047-1799474.pdf">https://www.sec.gov/comments/sr-iex-2025-02/sriex202502-614047-1799474.pdf</a>.
\11\ See Securities Exchange Act Release No. 103290 (Jun. 18,
2025), 90 FR 26865.
\12\ Comments on the proposed rule change are available at
<a href="https://www.sec.gov/comments/sr-iex-2025-02/sriex202502.htm">https://www.sec.gov/comments/sr-iex-2025-02/sriex202502.htm</a>.
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Section 19(b)(2) of the Act \13\ 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
[[Page 34533]]
publishes the reasons for such determination. The proposed rule change
was published for notice and comment in the Federal Register on January
21, 2025.\14\ July 20, 2025 is 180 days from that date, and September
18, 2025 is 240 days from that date.
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\13\ 15 U.S.C. 78s(b)(2).
\14\ See Notice, supra note 3.
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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, as modified by Amendment No. 3, so that it has sufficient
time to consider the proposed rule change, the issues raised in the
comment letters that have been submitted in connection therewith, and
the Exchange's response to comments. Accordingly, the Commission,
pursuant to Section 19(b)(2) of the Act,\15\ designates September 18,
2025 as the date by which the Commission should either approve or
disapprove the proposed rule change, as modified by Amendment No. 3
(File No. SR-IEX-2025-02).
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\15\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
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\16\ 17 CFR 200.30-3(a)(57).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-13721 Filed 7-21-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on July 22, 2025.
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