[Federal Register Volume 90, Number 83 (Thursday, May 1, 2025)]
[Notices]
[Page 18717]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-07494]



[[Page 18717]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102928; File No. SR-SAPPHIRE-2025-12]


Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change, as Modified by Partial Amendment Nos. 1 and 2, To Amend 
Exchange Rule 402, Criteria for Underlying Securities, To List and 
Trade Options on Commodity-Based Trust Shares

April 25, 2025.
    On March 5, 2025, MIAX Sapphire, LLC 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 Exchange Rule 402, 
Criteria for Underlying Securities, to list and trade options on 
Commodity-Based Trust Shares. On March 11, 2025, the Exchange filed 
Partial Amendment No. 1 to the proposed rule change, and on March 12, 
2025, the Exchange filed Partial Amendment No. 2 to the proposed rule 
change. The proposed rule change, as modified by Partial Amendment Nos. 
1 and 2, was published for comment in the Federal Register on March 19, 
2025.\3\ The Commission has not received any comments regarding the 
proposed rule change, as modified by Partial Amendment Nos. 1 and 2.
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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. 102660 (Mar. 13, 
2025), 90 FR 12859.
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    Section 19(b)(2) of the Act \4\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this proposed rule change 
is May 3, 2025. The Commission is extending this 45-day time period.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to take action on 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,\5\ designates June 
17, 2025, as the date by which the Commission shall either approve or 
disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change, as modified by Partial Amendment 
Nos. 1 and 2 (File No. SR-SAPPHIRE-2025-12).
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    \5\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-07494 Filed 4-30-25; 8:45 am]
BILLING CODE 8011-01-P