[Federal Register Volume 88, Number 76 (Thursday, April 20, 2023)]
[Notices]
[Pages 24455-24456]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-08307]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97306; File No. SR-CBOE-2022-051]


Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of 
Designation of Longer Period for Commission Action on a Proposed Rule 
Change To Amend Rules Relating to the Processing of Auction Responses

April 14, 2023.
    On October 3, 2022, Cboe Exchange, Inc. filed with the Securities 
and Exchange Commission (the

[[Page 24456]]

``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to amend its rules relating to the processing of 
auction responses. The proposed rule change was published for comment 
in the Federal Register on October 20, 2022.\3\ On November 23, 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 January 
18, 2023, the Commission instituted proceedings under Section 
19(b)(2)(B) of the Act \6\ to determine whether to approve or 
disapprove the proposed rule change.\7\ On April 10, 2023, the Exchange 
submitted Amendment No. 1 to the proposed rule change, which replaced 
and superseded the proposed rule change in its entirety.\8\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. 96081 (October 14, 
2022), 87 FR 63830.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 96380, 87 FR 73366 
(November 29, 2022). The Commission designated January 18, 2023 as 
the date by which the Commission shall approve or disapprove, or 
institute proceedings to determine whether to disapprove, the 
proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 96684, 88 FR 4243 
(January 24, 2023).
    \8\ The full text of Amendment No. 1 is available on the 
Commission's website at: https://www.sec.gov/comments/sr-cboe-2022-051/srcboe2022051-20163989-333985.pdf.
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    Section 19(b)(2) of the Act \9\ provides that, after initiating 
disapproval 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 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 date 
of the publication of notice of the proposed rule change October 20, 
2022. The 180th day after the publication of the notice of the proposed 
rule change is April 18, 2023, and June 17, 2023 is 240 days from that 
date.
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    \9\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is appropriate to designate a longer 
period within which to conclude proceedings on the proposed rule change 
so that it has sufficient time to consider the proposed this proposed 
rule change and the proposed amendment. Accordingly, the Commission, 
pursuant to Section 19(b)(2) of the Act,\10\ designates June 17, 2023, 
as the date by which the Commission shall either approve or disapprove 
the proposed rule change, as modified by Amendment No. 1 (File No. SR-
CBOE-2022-051).
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    \10\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(57).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-08307 Filed 4-19-23; 8:45 am]
BILLING CODE 8011-01-P