[Federal Register Volume 87, Number 128 (Wednesday, July 6, 2022)]
[Notices]
[Page 40294]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-14288]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-95175; File No. SR-CboeBZX-2021-086]


Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change, as 
Modified by Amendment No. 2, To Amend the Opening Auction Process 
Provided Under Rule 11.23(b)(2)(B)

June 29, 2022.
    On December 21, 2021, Cboe BZX Exchange, Inc. (``BZX'' or 
``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 to amend the Opening Auction process under BZX 
Rule 11.23(b)(2)(B). The proposed rule change was published for comment 
in the Federal Register on January 5, 2022.\3\ On February 14, 2022, 
pursuant to Section 19(b)(2) of the Act,\4\ the Commission designated a 
longer period within which to approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether to disapprove the proposed rule change.\5\ On April 
1, 2022, the Exchange filed Amendment No. 2 to the proposed rule 
change, which amended and superseded the proposed rule change as 
originally filed.\6\ On April 4, 2022, the Commission noticed the 
filing of Amendment No. 2 and instituted proceedings under Section 
19(b)(2)(B) of the Act \7\ to determine whether to approve or 
disapprove the proposed rule change.\8\
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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. 93888 (December 30, 
2021), 87 FR 532.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 94238, 87 FR 9399 
(February 18, 2022). The Commission designated April 5, 2022, as the 
date by which the Commission shall approve or disapprove, or 
institute proceedings to determine whether to disapprove, the 
proposed rule change.
    \6\ On March 31, 2022, the Exchange submitted Amendment No. 1 to 
the proposed rule change, and on April 1, 2022, the Exchange 
withdrew Amendment No. 1 to the proposed rule change. Amendment No. 
2 is available on the Commission's website at: https://www.sec.gov/comments/sr-cboebzx-2021-086/srcboebzx2021086-20122189-278229.pdf.
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ See Securities Exchange Act Release No. 94601, 87 FR 20895 
(April 8, 2022).
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    Section 19(b)(2) of the Act \9\ provides that, after initiating 
proceedings, the Commission shall issue an order approving or 
disapproving the proposed rule change not later than 180 days after the 
date of publication of notice of the filing of the proposed rule 
change. The Commission may extend the period for issuing an order 
approving or disapproving the proposed rule change, however, by not 
more than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for such determination. The 
proposed rule change was published for comment in the Federal Register 
on January 5, 2022.\10\ The 180th day after publication of the proposed 
rule change is July 4, 2022. The Commission is extending the time 
period for approving or disapproving the proposal for an additional 60 
days.
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    \9\ 15 U.S.C. 78s(b)(2).
    \10\ See supra note 3 and accompanying text.
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    The Commission finds that it is appropriate to designate a longer 
period within which to issue an order approving or disapproving the 
proposed rule change so that it has sufficient time to consider the 
proposed rule change, as modified by Amendment No. 2. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\11\ designates 
September 2, 2022, as the date by which the Commission should either 
approve or disapprove the proposed rule change (File No. SR-CboeBZX-
2021-086), as modified by Amendment No. 2.
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    \11\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(57).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2022-14288 Filed 7-5-22; 8:45 am]
BILLING CODE 8011-01-P