[Federal Register Volume 83, Number 44 (Tuesday, March 6, 2018)]
[Notices]
[Pages 9561-9562]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-04512]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82794/March 1, 2018]


Securities Exchange Act of 1934; Order Granting Petitions for 
Review and Scheduling Filing of Statements

    In the Matter of the Cboe BZX Exchange, Inc.
    For an Order Granting the Approval of Proposed Rule Change to 
Introduce Cboe Market Close, a Closing Match Process for Non-BZX 
Listed Securities under New Exchange Rule 11.28 (File No. SR-
BatsBZX-2017-34)


    This matter comes before the Securities and Exchange Commission 
(``Commission'') on petition to review the approval, pursuant to 
delegated authority, of the Bats BZX Exchange, Inc. (now known as Cboe 
BZX Exchange, Inc.) (``BZX'' or ``Exchange'') proposed rule change to 
adopt Cboe Market Close, a closing match process for non-BZX Listed 
Securities.
    On May 16, 2017, the Commission issued a notice of filing of the 
proposed rule change filed with the Commission pursuant to Section 
19(b)(1) of the Securities Exchange Act of 1934 (``Exchange Act'') \1\ 
and Rule 19b-4 \2\ thereunder.\3\ On July 3, 2017, a longer time period 
was designated within which to act on the proposed rule change.\4\ On 
August 18, 2017, proceedings were instituted under Section 19(b)(2)(B) 
of the Exchange Act \5\ to determine whether to approve or disapprove 
the proposed rule change.\6\ On November 17, 2017, pursuant to Section 
19(b)(2) of the Exchange Act,\7\ a longer period was designated for 
Commission action on proceedings to determine whether to approve or 
disapprove the proposed rule change.\8\ On December 1, 2017, the 
Exchange filed Amendment No. 1 to the proposed rule change, renaming 
``Bats Market Close'' as ``Cboe Market Close.'' On January 17, 2018, 
after consideration of the record for the proposed rule change, the 
Division of Trading and Markets (``Division''), pursuant to delegated 
authority,\9\ approved the proposed rule

[[Page 9562]]

change, as modified by Amendment No. 1 (``Approval Order'').\10\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Exchange Act Release No. 80683, 82 FR 23320 (May, 22 
2017).
    \4\ See Exchange Act Release No. 81072, 82 FR 31792 (July 10, 
2017).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Exchange Act Release No. 81437, 82 FR 40202 (Aug. 24, 
2017).
    \7\ 15 U.S.C. 78s(b)(2).
    \8\ See Exchange Act Release No. 82108, 82 FR 55894 (Nov. 24, 
2017).
    \9\ 17 CFR 200.30 3(a)(12).
    \10\ See Exchange Act Release No. 82522, 83 FR 3205 (Jan. 23, 
2018).
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    On January 31, 2018, pursuant to Commission Rule of Practice 
430,\11\ NYSE Group, Inc. (``NYSE'') and The Nasdaq Stock Market LLC 
(``Nasdaq'') each filed petitions for review of the Approval Order. 
Pursuant to Commission Rule of Practice 431(e), the Approval Order is 
stayed by the filing with the Commission of a notice of intention to 
petition for review.\12\ Pursuant to Rule 431 of the Rules of 
Practice,\13\ the petitions for review of the Approval Order of NYSE 
and Nasdaq are granted.\14\ Further, the Commission hereby establishes 
that any party to the action or other person may file a written 
statement in support of or in opposition to the Approval Order on or 
before March 22, 2018.
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    \11\ 17 CFR 201.430.
    \12\ 17 CFR 201.431(e).
    \13\ 17 CFR 201.431.
    \14\ On February 2, 2018, NYSE filed a corrected petition for 
review that the Commission will consider in lieu of the version 
filed on January 31, 2018.
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    For the reasons stated above, it is hereby:
    Ordered that the petitions of NYSE and Nasdaq for review of the 
Division's action to approve the proposed rule change by delegated 
authority be granted; and
    It is further ordered that any party or other person may file a 
statement in support of or in opposition to the action made pursuant to 
delegated authority on or before March 22, 2018.
    It is further ordered that the January 17, 2018 order approving the 
proposed rule change, as modified by Amendment No. 1 (File No. SR-
BatsBZX-2017-34), shall remain stayed pending further order by the 
Commission.

    By the Commission.
Eduardo A. Aleman,
 Assistant Secretary.
[FR Doc. 2018-04512 Filed 3-5-18; 8:45 am]
 BILLING CODE 8011-01-P