[Federal Register Volume 90, Number 91 (Tuesday, May 13, 2025)]
[Notices]
[Pages 20333-20334]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-08315]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102997; File No. SR-CboeBYX-2025-008]


Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Amend Exchange Rule 11.25(e) To Allow Users To Utilize the 
Exchange's Match Trade Prevention Functionality When Entering Periodic 
Auction Orders Onto the Exchange for Execution

May 7, 2025.
    On March 14, 2025, Cboe BYX 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 
Exchange Rule 11.25(e) to (1) allow Users to utilize the Exchange's 
Match Trade Prevention functionality when entering Periodic Auction 
Orders onto the Exchange for execution; (2) add new rule text 
describing how the System will handle Periodic Auction Orders entered 
with MTP instructions when a Periodic Auction is not in progress; (3) 
add new rule text describing how the System will handle Periodic 
Auction Orders entered with MTP instructions when a Periodic Auction is 
in progress; and (4) add new rule text describing how System will 
handle Periodic Auction Orders entered with both an MTP instruction and 
Minimum Quantity instruction, when a Periodic Auction is in progress. 
The proposed rule change was published for comment in the Federal 
Register on March 31, 2025.\3\
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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. 102727 (March 25, 
2025), 90 FR 14304.
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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 15, 2025.

[[Page 20334]]

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 
29, 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 (File No. SR-CboeBYX-2025-008).
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    \5\ 15 U.S.C. 78s(b)(2).

    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. 2025-08315 Filed 5-12-25; 8:45 am]
BILLING CODE 8011-01-P