[Federal Register Volume 76, Number 71 (Wednesday, April 13, 2011)]
[Notices]
[Page 20757]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-8918]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-64266; File No. SR-C2-2011-008]


Self-Regulatory Organizations; C2 Options Exchange, Incorporated; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change To Allow the Listing and Trading of a P.M.-Settled 
S&P 500 Index Option Product

April 8, 2011.

I. Introduction

    On February 28, 2011, C2 Options Exchange, Incorporated (the 
``Exchange'' or ``C2'') 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 permit the listing and 
trading of P.M.-settled S&P 500 Index options on C2. The proposed rule 
change was published for comment in the Federal Register on March 8, 
2011.\3\ The Commission received two comments on the proposal.\4\
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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. 64011 (March 2, 
2011), 76 FR 12775 (``Notice'').
    \4\ See letter from Randall Mayne, Blue Capital Group, to 
Elizabeth M. Murphy, Secretary, Commission, dated March 18, 2011; 
letter from Andrew Stevens, Legal Counsel, IMC Chicago, LLC, to 
Elizabeth M. Murphy, Secretary, Commission, dated March 24, 2011.
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    Section 19(b)(2) of the Act \5\ 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 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 for this filing is April 22, 2011.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission is hereby extending the 45-day period for Commission 
action on the proposed rule change. The Commission finds that it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change. In particular, the extension of time will 
ensure that the Commission has sufficient time to consider and take 
action on the Exchange's proposal in light of, among other things, the 
comments received on the proposal.
    Accordingly, pursuant to Section 19(b)(2)(A)(ii)(I) of the Act \6\ 
and for the reasons stated above, the Commission designates June 6, 
2011, as the date by which the Commission should either approve or 
disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change File No. SR-C2-2011-008.
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    \6\ 15 U.S.C. 78s(b)(2)(A)(ii)(I).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Cathy H. Ahn,
Deputy Secretary.
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    \7\ 17 CFR 200.30-3(a)(31).
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[FR Doc. 2011-8918 Filed 4-12-11; 8:45 am]
BILLING CODE 8011-01-P