Notice2025-18940
Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Exchange Rule 527
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 30, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 187 (Tuesday, September 30, 2025)</title>
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[Federal Register Volume 90, Number 187 (Tuesday, September 30, 2025)]
[Notices]
[Pages 47008-47009]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-18940]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-104050; File No. SR-SAPPHIRE-2025-32]
Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of
Designation of a Longer Period for Commission Action on a Proposed Rule
Change To Amend Exchange Rule 527
September 25, 2025.
On August 15, 2025, MIAX Sapphire, LLC (``MIAX Sapphire'' 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 to amend Exchange Rule 527, Exchange Liability, to
provide a one-time accommodation payment to Members for claims arising
from the system difficulties that the Exchange experienced on June 3,
2025 as a result of an operational error. The proposed rule change was
published for comment in the Federal Register on September 3, 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. 103795 (Aug. 28,
2025), 90 FR 42651. The Commission has received no comments
regarding the proposed rule change.
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Section 19(b)(2) of the Act \4\ provides that within 45 days of the
publication of
[[Page 47009]]
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 shall either approve the proposed rule change, disapprove
the 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 October 18,
2025. 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 and the issues
raised therein. Accordingly, the Commission, pursuant to Section
19(b)(2) of the Act,\5\ designates December 2, 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-SAPPHIRE-2025-32).
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\5\ Id.
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. 2025-18940 Filed 9-29-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on September 30, 2025.
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