[Federal Register Volume 84, Number 127 (Tuesday, July 2, 2019)]
[Notices]
[Page 31646]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-14057]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86202; File No. SR-CboeEDGX-2019-028]


Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice 
of Designation of Longer Period for Commission Action on Proposed Rule 
Change, as Modified by Amendment No. 1, To Adopt Rule 21.22 (Complex 
Automated Improvement Mechanism)

June 26, 2019.
    On April 26, 2019, Cboe EDGX Exchange, Inc. (the ``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 Rule 21.22, Complex Automated Improvement Mechanism (``C-AIM'' or 
``C-AIM Auction''), to permit the use of the Exchange's Automated 
Improvement Mechanism auction for complex orders. The proposed rule 
change was published for comment in the Federal Register on May 16, 
2019.\3\ On June 14, 2019, the Exchange filed Amendment No. 1 to the 
proposed rule change.\4\ The Commission has received no comments 
regarding the proposal.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 85831 (May 10, 
2019), 84 FR 22178.
    \4\ Amendment No. 1 revises the proposal to (1) cap the prices 
of C-AIM responses based on the Synthetic Best Bid or Offer and the 
prices of orders resting on the top of the Complex Order Book at the 
conclusion of the C-AIM Auction, rather than at the beginning of the 
C-AIM Auction; (2) incorporate the new defined terms ``C-AIM Auction 
period'' and ``final auction price'' into the proposed rule text; 
(3) provide additional justification for the proposal to allow an 
Options Market Maker registered in the applicable series on the 
Exchange to be solicited to participate in a C-AIM Auction for a 
complex order that includes those series; (4) provide additional 
justification for the proposal to allow Agency Orders to execute 
only against complex interest at the conclusion of a C-AIM Auction; 
(5) make non-substantive simplifying, clarifying, and correcting 
changes to the proposed rule text; and (6) make non-substantive 
clarifications and corrections to the Form 19b-4 discussion of the 
proposed rule change. Amendment No. 1 is available at https://www.sec.gov/comments/sr-cboeedgx-2019-028/srcboeedgx2019028-5679914-185869.pdf.
---------------------------------------------------------------------------

    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 June 30, 2019.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change, as modified by Amendment No. 1. 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 proposed rule change, as modified by 
Amendment No. 1.
    Accordingly, pursuant to Section 19(b)(2) of the Act,\6\ the 
Commission designates August 14, 2019, as the date by which the 
Commission shall either approve or disapprove, or institute proceedings 
to determine whether to disapprove, the proposed rule change, as 
modified by Amendment No. 1 (File No. SR-CboeEDGX-2019-028).
---------------------------------------------------------------------------

    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-14057 Filed 7-1-19; 8:45 am]
 BILLING CODE 8011-01-P