[Federal Register Volume 88, Number 169 (Friday, September 1, 2023)]
[Notices]
[Page 60525]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-18897]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98232; File No. SR-Phlx-2023-07]


Self-Regulatory Organizations; Nasdaq PHLX LLC; 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 Make Permanent Certain P.M.-Settled 
Pilots

August 28, 2023.
    On February 23, 2023, Nasdaq PHLX LLC (``Phlx'' 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 
make permanent the pilot program to permit the listing and trading of 
options based on 1/100 the value of the Nasdaq-100 Index and the 
Exchange's nonstandard expirations pilot program. The proposed rule 
change was published for comment in the Federal Register on March 2, 
2023.\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. 96980 (February 24, 
2023), 88 FR 13161.
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    On April 7, 2023, pursuant to section 19(b)(2) of the Act,\4\ 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.\5\ On May 11, 2023, the Exchange submitted Amendment No. 1 to 
the proposed rule change (``Amendment No. 1'').\6\ On May 31, 2023, the 
Commission instituted proceedings to determine whether to approve or 
disapprove the proposed rule change and published Amendment No. 1 for 
notice and comment.\7\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 97260, 88 FR 22498 
(April 13, 2023).
    \6\ Amendment No. 1 is available at: https://www.sec.gov/comments/sr-phlx-2023-07/srphlx202307.htm.
    \7\ See Securities Exchange Act Release No. 97624, 88 FR 37107 
(June 6, 2023).
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    Section 19(b)(2) of the Exchange 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 reasons for such determination. The proposed 
rule change was published for notice and comment in the Federal 
Register on March 2, 2023.\9\ The 180th day after publication of the 
proposed rule change is August 29, 2023. The Commission is extending 
the time period for approving or disapproving the proposed rule change 
for an additional 60 days.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See supra note 3 and accompanying text.
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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 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 Exchange Act,\10\ designates 
October 28, 2023, as the date by which the Commission shall either 
approve or disapprove the proposed rule change (File No. SR-Phlx-2023-
07).
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    \10\ 15 U.S.C. 78s(b)(2).
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    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).

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-18897 Filed 8-31-23; 8:45 am]
BILLING CODE 8011-01-P