Self-Regulatory Organizations; Cboe BYX 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, as Modified by Amendment No. 1, 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, 104276 [2024-30352]

Download as PDF 104276 Federal Register / Vol. 89, No. 245 / Friday, December 20, 2024 / Notices or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.65 Sherry R. Haywood, Assistant Secretary. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: BILLING CODE 8011–01–P ddrumheller on DSK120RN23PROD with NOTICES1 Electronic Comments • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include file number SR– SAPPHIRE–2024–41 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to file number SR–SAPPHIRE–2024–41. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s internet website (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commission’s Public Reference Room, 100 F Street NE, Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. Do not include personal identifiable information in submissions; you should submit only information that you wish to make available publicly. We may redact in part or withhold entirely from publication submitted material that is obscene or subject to copyright protection. All submissions should refer to file number SR–SAPPHIRE–2024–41 and should be submitted on or before January 10, 2025. VerDate Sep<11>2014 20:12 Dec 19, 2024 Jkt 265001 [FR Doc. 2024–30350 Filed 12–19–24; 8:45 am] SECURITIES AND EXCHANGE COMMISSION [Release No. 34–101927; File No. SR– CboeBYX–2024–009] Self-Regulatory Organizations; Cboe BYX 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, as Modified by Amendment No. 1, 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 December 16, 2024. On June 6, 2024, 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 allow Users to utilize the Exchange’s Match Trade Prevention functionality when entering Periodic Auction Orders onto the Exchange for execution. The proposed rule change was published for comment in the Federal Register on June 21, 2024.3 On August 5, 2024, the Commission extended the time period within which to approve, disapprove the proposed rule change, or institute proceedings to determine whether to approve or disapprove the proposed rule change to September 19, 2024.4 On September 18, 2024, the Exchange filed Amendment No. 1 to the proposed rule change.5 On September 19, 2024, the Commission issued notice of the proposed rule change, as modified by Amendment No. 1, and simultaneously instituted proceedings under Section 19(b)(2)(B) of the Act 6 to determine whether to approve or disapprove the proposed rule change, as modified by Amendment No. 1 (‘‘Order Instituting Proceedings’’).7 Section 19(b)(2) of the Act 8 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 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 notice and comment in the Federal Register on June 21, 2024.9 December 18, 2024 is 180 days from that date, and February, 16, 2025 is 240 days from that date. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change, as modified by Amendment No. 1, so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 1. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,10 designates February 16, 2025 as the date by which the Commission shall either approve or disapprove the proposed rule change, as modified by Amendment No. 1 (File No. SR–CboeBYX–2024–009). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–30352 Filed 12–19–24; 8:45 am] 65 17 CFR 200.30–3(a)(12). 1 15 U.S.C.78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 100337 (June 14, 2024), 89 FR 52148 (‘‘Notice’’). 4 See Securities Exchange Act Release No. 100649, 89 FR 65420 (August 9, 2024). The Commission has received no comment letters on the proposed rule change. 5 Amendment No. 1 modifies the proposed rule change by: (1) amending rule text relating to Exchange Match Trade Prevention functionality when entering Periodic Auction Orders onto the Exchange for execution; and (2) adding new rule text describing how the Exchange will handle Periodic Auction Orders entered as a Minimum Quantity Order with a Match Trade Prevention modifier. PO 00000 Frm 00205 Fmt 4703 Sfmt 9990 BILLING CODE 8011–01–P 6 15 U.S.C. 78s(b)(2)(B). Securities Exchange Act Release No. 101105, 89 FR 78418 (September 25, 2024). 8 15 U.S.C. 78s(b)(2). 9 See Notice, supra note 3. 10 15 U.S.C. 78s(b)(2). 11 17 CFR 200.30–3(a)(57). 7 See E:\FR\FM\20DEN1.SGM 20DEN1

Agencies

[Federal Register Volume 89, Number 245 (Friday, December 20, 2024)]
[Notices]
[Page 104276]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-30352]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-101927; File No. SR-CboeBYX-2024-009]


Self-Regulatory Organizations; Cboe BYX 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, as 
Modified by Amendment No. 1, 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

December 16, 2024.
    On June 6, 2024, 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 allow Users to utilize the Exchange's Match Trade 
Prevention functionality when entering Periodic Auction Orders onto the 
Exchange for execution. The proposed rule change was published for 
comment in the Federal Register on June 21, 2024.\3\ On August 5, 2024, 
the Commission extended the time period within which to approve, 
disapprove the proposed rule change, or institute proceedings to 
determine whether to approve or disapprove the proposed rule change to 
September 19, 2024.\4\ On September 18, 2024, the Exchange filed 
Amendment No. 1 to the proposed rule change.\5\ On September 19, 2024, 
the Commission issued notice of the proposed rule change, as modified 
by Amendment No. 1, and simultaneously instituted proceedings under 
Section 19(b)(2)(B) of the Act \6\ to determine whether to approve or 
disapprove the proposed rule change, as modified by Amendment No. 1 
(``Order Instituting Proceedings'').\7\
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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. 100337 (June 14, 
2024), 89 FR 52148 (``Notice'').
    \4\ See Securities Exchange Act Release No. 100649, 89 FR 65420 
(August 9, 2024). The Commission has received no comment letters on 
the proposed rule change.
    \5\ Amendment No. 1 modifies the proposed rule change by: (1) 
amending rule text relating to Exchange Match Trade Prevention 
functionality when entering Periodic Auction Orders onto the 
Exchange for execution; and (2) adding new rule text describing how 
the Exchange will handle Periodic Auction Orders entered as a 
Minimum Quantity Order with a Match Trade Prevention modifier.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 101105, 89 FR 78418 
(September 25, 2024).
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    Section 19(b)(2) of the Act \8\ 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 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 notice and comment in the Federal Register on 
June 21, 2024.\9\ December 18, 2024 is 180 days from that date, and 
February, 16, 2025 is 240 days from that date.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See Notice, supra note 3.
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    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change, as modified by Amendment No. 1, so that it has sufficient 
time to consider the proposed rule change, as modified by Amendment No. 
1. Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\10\ designates February 16, 2025 as the date by which the 
Commission shall either approve or disapprove the proposed rule change, 
as modified by Amendment No. 1 (File No. SR-CboeBYX-2024-009).
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    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(57).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-30352 Filed 12-19-24; 8:45 am]
BILLING CODE 8011-01-P
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