[Federal Register Volume 88, Number 190 (Tuesday, October 3, 2023)]
[Notices]
[Pages 68236-68237]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-21782]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98557 File No. SR-CBOE-2023-018]


Self-Regulatory Organizations; Cboe 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 To 
Make Permanent the Operation of Its Flexible Exchange Options Pilot 
Program Regarding Permissible Settlement Values for FLEX Index Options

September 27, 2023.
    On April 10, 2023, 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 make permanent 
the operation of its Flexible Exchange Options (``FLEX Options'') pilot 
program (``Pilot Program'') regarding permissible exercise settlement 
values for FLEX Index Options. The proposed rule change was published 
for comment in the Federal Register on April 28, 2023.\3\ On June 8, 
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 disapprove the proposed rule change.\5\ On July 
19, 2023, the Commission instituted proceedings under Section 
19(b)(2)(B) of the Act \6\ to

[[Page 68237]]

determine whether to approve or disapprove the proposed rule change.\7\
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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. 97368 (April 24, 
2023), 88 FR 26353, (April 28, 2023) (``Notice'').
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 97672 (June 8, 
2023), 88 FR 38930 (June 14, 2023). The Commission designated July 
20, 2023, as the date by which it should approve, 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. 97950 (July 19, 
2023), 88 FR 47930 (July 25, 2023).
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    Section 19(b)(2) of the Act \8\ 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 the 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 April 28, 2023.\9\ The 180th day after publication of the Notice is 
October 25, 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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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See Notice, 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. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\10\ designates December 24, 2023, as the date by 
which the Commission shall either approve or disapprove the proposed 
rule change (File No. SR-CBOE-2023-018).
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    \10\ 15 U.S.C. 78s(b)(2).

    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. 2023-21782 Filed 10-2-23; 8:45 am]
BILLING CODE 8011-01-P