[Federal Register Volume 88, Number 189 (Monday, October 2, 2023)]
[Notices]
[Pages 67834-67835]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-21629]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98541; File No. SR-MIAX-2023-19]


Self-Regulatory Organizations; Miami International Securities 
Exchange LLC; Notice of Designation of Longer Period for Commission 
Action on a Proposed Rule Change To Amend Exchange Rule 307, Position 
Limits

September 26, 2023.
    On April 21, 2023, Miami International Securities Exchange LLC 
(``MIAX'' or ``Exchange'') filed with the Securities and Exchange 
Commission (the ``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 Exchange Rule 307, 
Position Limits, to establish a process for adjusting option position 
limits following a stock split or reverse stock split in the underlying 
security. The proposed rule change was published for comment in the 
Federal Register on May 8, 2023.\3\ On June 14, 2023, 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 
approve or disapprove the proposed rule change.\5\ The Commission has 
received one comment regarding the proposal.\6\ On August 2, 2023, the 
Commission 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. 97421 (May 2, 2023), 
88 FR 29725 (May 8, 2023).
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 97727 (June 14, 
2023), 88 FR 40366 (June 21, 2023). The Commission designated August 
6, 2023, as the date by which the Commission shall approve or 
disapprove, or institute proceedings to determine whether to approve 
or disapprove, the proposed rule change.
    \6\ See letter from Ellen Greene, Managing Director, Equities & 
Options Market Structure, SIFMA, to Vanessa Countryman, Secretary, 
Commission, dated July 5, 2023 (``SIFMA Letter'').
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ See Securities Exchange Act Release No. 98045 (August 2, 
2023), 88 FR 53555 (August 8, 2023).
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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 
proposed rule change was published for comment in the Federal Register 
on May 8, 2023.\10\ The 180th day after the date of the publication of 
the proposed rule is November 4, 2023. The Commission is extending the 
time period for approving or disapproving the proposed rule change for 
an additional 60 days.
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    \9\ 15 U.S.C. 78s(b)(2).
    \10\ See supra note 3.
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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 and the issues raised therein, as well as the 
comment received. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\11\ designates January 3, 2024, as the date by 
which the Commission shall either approve or

[[Page 67835]]

disapprove the proposed rule change (File No. SR-MIAX-2023-19).
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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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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-21629 Filed 9-29-23; 8:45 am]
BILLING CODE 8011-01-P