[Federal Register Volume 84, Number 99 (Wednesday, May 22, 2019)]
[Notices]
[Page 23591]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-10644]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-85879; File No. SR-CboeEDGX-2019-012]
Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice
of Designation of Longer Period for Commission Action on Proposed Rule
Change To Introduce Retail Priority
May 16, 2019.
On March 18, 2019, Cboe EDGX Exchange, Inc. (``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 introduce
order book priority for equity orders submitted on behalf of retail
investors. The proposed rule change was published for comment in the
Federal Register on April 5, 2019.\3\ The Commission received four
comment letters on the proposed rule change.\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. 85482 (April 2,
2019), 84 FR 13729 (``Notice'').
\4\ See letters to Vanessa Countryman, Acting Secretary,
Commission, from Sean Paylor, Trader, AJO, L.P., dated April 25,
2019; Joseph Saluzzi and Sal Arnuk, Partners, Themis Trading LLC,
dated May 8, 2019; T. Sean Bennett, Principal Associate General
Counsel, Nasdaq, dated May 9, 2019; letter to Eduardo A. Aleman,
Deputy Secretary, Commission from Stephen John Berger, Global Head
of Government & Regulatory Policy, Citadel Securities, dated April
26, 2019. All comments received by the Commission on the proposed
rule change are available at: https://www.sec.gov/comments/sr-cboeedgx-2019-012/srcboeedgx2019012.htm.
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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 May 20, 2019.
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\5\ 15 U.S.C. 78s(b)(2).
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The Commission is extending the 45-day time 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 so that it has sufficient time to consider the
Exchange's proposed rule change, the comments received, and the
Exchange's response to comments.
Accordingly, pursuant to Section 19(b)(2)(A)(ii)(I) of the Act \6\
and for the reasons stated above, the Commission designates July 4,
2019 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. CboeEDGX-2019-012).
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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\
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\7\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-10644 Filed 5-21-19; 8:45 am]
BILLING CODE 8011-01-P