[Federal Register Volume 89, Number 155 (Monday, August 12, 2024)]
[Notices]
[Pages 65689-65690]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-17844]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-100665; File No. SR-CboeEDGX-2024-009]


Self-Regulatory Organizations; Cboe EDGX 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 
Amend the Definition of Retail Order, and Codify Interpretations and 
Policies Regarding Permissible Uses of Algorithms by RMOs

August 6, 2024.
    On January 25, 2024, Cboe EDGX 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 
amend the definition of Retail Order,\3\ and codify interpretations and 
policies regarding permissible uses of algorithms by Retail Member 
Organizations.\4\. The proposed rule change was published for comment 
in the Federal Register on February 13, 2024.\5\ On March 20, 2024, 
pursuant to Section 19(b)(2) of the Act,\6\ 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.\7\ On May 13, 
2024, the Commission instituted proceedings under Section 19(b)(2)(B) 
of the Act \8\ to determine whether to approve or disapprove the 
proposed rule change.\9\ On July 10, 2024, the Exchange submitted 
Amendment No. 1 to the proposed rule change, which replaced and 
superseded the proposed rule change as originally filed. On July 17, 
2024, the Exchange withdrew Amendment No. 1.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ The term ``Retail Order'' is defined in Exchange Rule 
11.21(a)(2).
    \4\ The term ``Retail Member Organization'' (or ``RMO'') is 
defined in Exchange Rule 11.21(a)(1) to mean a member of the 
Exchange (or a division thereof) that has been approved by the 
Exchange under Exchange Rule 11.21 to submit Retail Orders.
    \5\ See Securities Exchange Act Release No. 99490 (February 7, 
2024), 89 FR 10129 (``Notice''). The Commission has not received any 
comments on the proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2).
    \7\ See Securities Exchange Act Release No. 99811, 89 FR 21077 
(March 26, 2024).
    \8\ 15 U.S.C. 78s(b)(2)(B).
    \9\ See Securities Exchange Act Release No. 100114 (May 13, 
2024), 89 FR 43462 (May 17, 2024).
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    Section 19(b)(2) of the Act \10\ 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 February 13, 2024.\11\ The 180th day after publication of the Notice 
is August 11, 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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    \10\ 15 U.S.C. 78s(b)(2).
    \11\ See supra note 5.
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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. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\12\ designates 
October 10, 2024, as the date by which the Commission shall either 
approve or disapprove the proposed rule change (File No. SR-CboeEDGX-
2024-009).
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    \12\ 15 U.S.C. 78s(b)(2).


[[Page 65690]]


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    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(57).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-17844 Filed 8-9-24; 8:45 am]
BILLING CODE 8011-01-P