Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 2, To List and Trade Shares of the Wise Origin Bitcoin Trust Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares, 61642 [2023-19237]

Download as PDF 61642 Federal Register / Vol. 88, No. 172 / Thursday, September 7, 2023 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. 34–98263; File No. SRCboeBZX–2023–044] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 2, To List and Trade Shares of the Wise Origin Bitcoin Trust Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares August 31, 2023. ddrumheller on DSK120RN23PROD with NOTICES1 On June 30, 2023, Cboe BZX Exchange, Inc. (‘‘BZX’’ or ‘‘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 list and trade shares of the Wise Origin Bitcoin Trust under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares. On July 11, 2023, the Exchange filed Amendment No. 1, which amended and replaced the proposed rule change in its entirety, and on July 13, 2023, the Exchange filed Amendment No. 2, which amended and replaced the proposed rule change, as modified by Amendment No. 1, in its entirety. The proposed rule change, as modified by Amendment No. 2, was published for comment in the Federal Register on July 19, 2023.3 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 September 2, 2023. The Commission is extending this 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 97899 (July 13, 2023), 88 FR 46249. Comments on the proposed rule change, as modified by Amendment No. 2, are available at: https://www.sec.gov/ comments/sr-cboebzx-2023-044/ srcboebzx2023044.htm. 4 15 U.S.C. 78s(b)(2). 2 17 VerDate Sep<11>2014 19:19 Sep 06, 2023 Jkt 259001 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,5 designates October 17, 2023, 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-CboeBZX–2023–044), as modified by Amendment No. 2. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–19237 Filed 9–6–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–98261; File No. SR– PEARL–2023–38] Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 402 (Criteria for Underlying Securities) To Accelerate the Listing of Options on Certain IPOs August 31, 2023. Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on August 23, 2023, MIAX PEARL, LLC (‘‘MIAX Pearl’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange is filing a proposal to amend Exchange Rule 402. The text of the proposed rule change is available on the Exchange’s website at https:// www.miaxglobal.com/markets/usoptions/pearl-options/rule-filings, at MIAX Pearl’s principal office, and at the Commission’s Public Reference Room. 5 15 U.S.C. 78s(b)(2). CFR 200.30–3(a)(31). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 6 17 PO 00000 Frm 00144 Fmt 4703 Sfmt 4703 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend Exchange Rule 402, Criteria for Underlying Securities, to permit an underlying security having a market capitalization of at least $3 billion based upon the offering price of its initial public offering, to be listed and traded starting on or after the second business day following the initial public offering day. The Exchange is proposing a listing rule change that is substantially similar in all material respects to the proposal approved for NYSE American LLC (‘‘NYSE American’’).3 Following discussions with other exchanges and a cross-section of industry participants and in coordination with the Listed Options Market Structure Working Group (‘‘LOMSWG’’) (collectively, the ‘‘Industry Working Group’’), NYSE American filed a proposed rule change,4 which was recently approved, to modify the standard for the listing and trading of options on ‘‘covered securities’’ to reduce the time to market. At this time, the Exchange proposes to adopt an identical rule. Rule 402 sets forth the guidelines to be considered in evaluating for option transactions underlying securities that are ‘‘covered securities,’’ as defined in section 18(b)(1)(A) of the Securities Act of 1933 (hereinafter ‘‘covered security’’ or ‘‘covered securities’’).5 Currently, the 3 See Securities Exchange Act Release No. 98013 (July 27, 2023) 88 FR 50927 (August 2, 2023)(SR– NYSEAMER–2023–27)(Order Granting Approval of a Proposed Rule Change to Amend Rule 915 (Criteria for Underlying Securities) to Accelerate the Listing of Options on Certain IPOs). 4 Id. 5 Rule 402(a) requires that, for underlying securities to be eligible for option transactions, such securities must be duly registered and be an ‘‘NMS stock’’ as defined in Rule 600 of Regulation NMS under the Act and will be characterized by a substantial number of outstanding shares which are E:\FR\FM\07SEN1.SGM 07SEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 88, Number 172 (Thursday, September 7, 2023)]
[Notices]
[Page 61642]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-19237]



[[Page 61642]]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98263; File No. SR-CboeBZX-2023-044]


Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change, as Modified by Amendment No. 2, To List and Trade Shares of the 
Wise Origin Bitcoin Trust Under BZX Rule 14.11(e)(4), Commodity-Based 
Trust Shares

August 31, 2023.
    On June 30, 2023, Cboe BZX Exchange, Inc. (``BZX'' or ``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 
list and trade shares of the Wise Origin Bitcoin Trust under BZX Rule 
14.11(e)(4), Commodity-Based Trust Shares. On July 11, 2023, the 
Exchange filed Amendment No. 1, which amended and replaced the proposed 
rule change in its entirety, and on July 13, 2023, the Exchange filed 
Amendment No. 2, which amended and replaced the proposed rule change, 
as modified by Amendment No. 1, in its entirety. The proposed rule 
change, as modified by Amendment No. 2, was published for comment in 
the Federal Register on July 19, 2023.\3\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 97899 (July 13, 
2023), 88 FR 46249. Comments on the proposed rule change, as 
modified by Amendment No. 2, are available at: https://www.sec.gov/comments/sr-cboebzx-2023-044/srcboebzx2023044.htm.
---------------------------------------------------------------------------

    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 September 2, 2023. The Commission is extending this 45-day time 
period.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    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 and the issues 
raised therein. Accordingly, the Commission, pursuant to section 
19(b)(2) of the Act,\5\ designates October 17, 2023, 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-CboeBZX-2023-044), as modified by Amendment No. 2.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-19237 Filed 9-6-23; 8:45 am]
BILLING CODE 8011-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.