[Federal Register Volume 89, Number 53 (Monday, March 18, 2024)]
[Notices]
[Page 19386]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-05637]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-99725; File No. SR-BOX-2023-20]


Self-Regulatory Organizations; BOX Exchange LLC; Notice of 
Designation of 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 Adopt Rules To Govern FLEX Equity 
Options and a New Order Type To Trade FLEX Equity Options on the BOX 
Trading Floor

March 12, 2024.
    On September 1, 2023, BOX Exchange LLC (``Exchange'' or ``BOX'') 
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 
adopt Rules 5055 and 7605 which, among other applicable Exchange rules, 
will govern the trading of flexible exchange equity options (``FLEX 
Equity Options'') on the BOX Trading Floor, and make related changes to 
Rules 100 (Definitions), 7620 (Accommodation Transactions), and 12140 
(Imposition of Fines for Minor Rule Violations). The proposed rule 
change was published for comment in the Federal Register on September 
19, 2023.\3\ On September 27, 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 December 12, 2023, the Exchange submitted 
Amendment No. 2 to the proposed rule change, which replaced and 
superseded the proposed rule change as originally filed.\6\ On December 
15, 2023, the Commission published notice of Amendment No. 2 and 
instituted proceedings pursuant to Section 19(b)(2)(B) of the Exchange 
Act \7\ to determine whether to approve or disapprove the proposed rule 
change, as modified by Amendment No. 2.\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. 98380 (September 13, 
2023), 88 FR 64482 (``Notice''). Comment on the proposed rule change 
can be found at: https://www.sec.gov/comments/sr-box-2023-20/srbox202320.htm.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 98568, 86 FR 68237 
(October 3, 2023). The Commission designated December 18, 2023, as 
the date by which it should approve, disapprove, or institute 
proceedings to determine whether to disapprove the proposed rule 
change.
    \6\ Amendment No. 2 is available on the Commission's website at: 
https://www.sec.gov/comments/sr-box-2023-20/srbox202320-310739-809082.pdf (``Amendment No. 2'').
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ See Securities Exchange Act Release No. 99192, 88 FR 88437 
(December 21, 2023) (Notice of Filing of Amendment No. 2 and Order 
Instituting Proceedings) (``OIP'').
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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 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 September 19, 2023.\10\ The 180th day after publication of the 
Notice is March 17, 2024. 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 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,\11\ designates May 16, 2024 as the date by which 
the Commission shall either approve or disapprove the proposed rule 
change, as modified by Amendment No. 2 (File No. SR-BOX-2023-20).
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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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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-05637 Filed 3-15-24; 8:45 am]
BILLING CODE 8011-01-P