[Federal Register Volume 85, Number 148 (Friday, July 31, 2020)]
[Notices]
[Pages 46197-46198]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-16569]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-89398; File No. SR-CBOE-2020-050]
Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of
Designation of a Longer Period for Commission Action on a Proposed Rule
Change, as Modified by Amendment Nos. 1 and 2, to Amend Rules 5.37 and
5.73
July 27, 2020.
On June 3, 2020, Cboe 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 amend Rules
5.37 and 5.73 to permit orders for the accounts of market makers with
an appointment in SPX to be solicited for the initiating order
submitted for execution against an agency order in SPX options into a
simple Automated Improvement Mechanism (``AIM'') auction or a simple
FLEX AIM auction. The proposed rule change was published for comment in
the Federal Register on June 18, 2020.\3\ On July 2, 2020, the Exchange
submitted Amendment No. 1 to the proposed rule change, which replaced
and superseded the proposed rule change in its entirety.\4\ On July 22,
2020, the Exchange submitted Amendment No. 2 to the proposed rule
change.\5\
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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. 89062 (June 12,
2020), 85 FR 36907. Comments on the proposed rule change can be
found at: https://www.sec.gov/comments/sr-cboe-2020-050/srcboe2020050.htm.
\4\ In Amendment No. 1, the Exchange: (1) Limited the scope of
its original proposal, which would have permitted orders for the
accounts of market makers with an appointment in any class to be
solicited for the initiating order in an AIM or FLEX AIM auction in
that class, to only allow market makers with an appointment in SPX
to be solicited for the initiating order in an AIM or FLEX AIM
auction in SPX; and (2) provided additional data, justification, and
support for its modified proposal. The full text of Amendment No. 1
is available on the Commission's website at: https://www.sec.gov/comments/sr-cboe-2020-050/srcboe2020050-7382058-218888.pdf.
\5\ In Amendment No. 2, the Exchange: (1) Provided additional
data, justification, and support for its proposal; and (2) made
technical corrections and clarifications to the description of the
proposal. The full text of Amendment No. 2 is available on the
Commission's website at: https://www.sec.gov/comments/sr-cboe-2020-050/srcboe2020050-7464399-221161.pdf.
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Section 19(b)(2) of the Act \6\ 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
[[Page 46198]]
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 August 2, 2020. The Commission is
extending this 45-day time period.
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\6\ 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, as modified by
Amendment Nos. 1 and 2, and the comments received. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\7\ designates
September 16, 2020 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 Nos. 1
and 2 (File No. SR-CBOE-2020-050).
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\7\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-16569 Filed 7-30-20; 8:45 am]
BILLING CODE 8011-01-P