```

[Federal Register Volume 89, Number 187 (Thursday, September 26, 2024)]
[Notices]
[Page 78928]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-22021]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-101115; File No. SR-Phlx-2024-15]

Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of 
Designation of Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove Proposed Rule Change To 
Amend the Exchange's Fees for Top of PHLX Options (TOPO), PHLX Orders, 
and TOPO Plus Orders

September 20, 2024.
    On March 20, 2024, 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 
(File Number SR-Phlx-2024-15) to increase fees for certain market data 
products (``Proposal''). The proposed rule change was immediately 
effective upon filing with the Commission pursuant to Section 
19(b)(3)(A) of the Act.\3\ The proposed rule change was published for 
comment in the Federal Register on March 28, 2024.\4\ On May 16, 2024, 
the Commission issued an order temporarily suspending the proposed rule 
change pursuant to Section 19(b)(3)(C) of the Act \5\ and 
simultaneously instituting proceedings under Section 19(b)(2)(B) of the 
Act \6\ to determine whether to approve or disapprove the proposed rule 
change (``Order Instituting Proceedings'').\7\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A). A proposed rule change may take 
effect upon filing with the Commission if it is designated by the 
exchange as ``establishing or changing a due, fee, or other charge 
imposed by the self-regulatory organization on any person, whether 
or not the person is a member of the self-regulatory organization.'' 
15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ See Securities Exchange Act Release No. 99841 (March 22, 
2024), 89 FR 21648 (``Notice'').
    \5\ 15 U.S.C. 78s(b)(3)(C).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 100160, 89 FR 45036 
(May 22, 2024). The Commission has received one comment letter on 
the proposed rule change, as well as a response from the Exchange to 
the Order Instituting Proceedings. Comments received on the Proposal 
are available at: https://www.sec.gov/comments/sr-phlx-2024-15/srphlx202415.htm.
---------------------------------------------------------------------------

    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 
March 28, 2024.\9\ September 24, 2024 is 180 days from that date, and 
November 23, 2024 is 240 days from that date.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See Notice, supra note 4.
---------------------------------------------------------------------------

    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 its comments. Accordingly, the Commission, pursuant to 
Section 19(b)(2) of the Act,\10\ designates November 23, 2024 as the 
date by which the Commission shall either approve or disapprove the 
proposed rule change (File No. SR-Phlx-2024-15).
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-22021 Filed 9-25-24; 8:45 am]
BILLING CODE 8011-01-P
```