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[Federal Register Volume 89, Number 243 (Wednesday, December 18, 2024)]
[Notices]
[Pages 103002-103003]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-29918]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-101889; File No. SR-Phlx-2024-51]

Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Amend FLEX Floor Trading

December 12, 2024.
    On October 8, 2024, Nasdaq PHLX LLC 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: (i) amend Options 8, Section 
34, FLEX Trading to clarify certain functionality; (ii) list p.m.-
settled FLEX Index Options whose exercise settlement value is derived 
from closing prices on the last trading day prior to expiration that 
expire on or within two business days of a third Friday-of-the-month 
expiration day for a non-FLEX Option; and (iii) permit FLEX Options on 
certain Exchange-Traded Funds to be settled by delivery in cash if the 
underlying security meets prescribed criteria and set forth the 
applicable position and exercise limits for these options; and (iv) 
require that position and exercise limits for FLEX Options be 
aggregated with non-FLEX options in certain circumstances. The proposed 
rule change was published for comment in the Federal Register on 
October 29, 2024.\3\ The Commission has received no comment letters on 
the proposed rule change.
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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. 101413 (October 23, 
2024), 89 FR 86007.
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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 will either approve the proposed rule change, 
disapprove the

[[Page 103003]]

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 December 13, 
2024. 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 
January 27, 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-Phlx-2024-51).
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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. 2024-29918 Filed 12-17-24; 8:45 am]
BILLING CODE 8011-01-P
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