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[Federal Register Volume 90, Number 16 (Monday, January 27, 2025)]
[Notices]
[Pages 8228-8229]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-01560]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102223; File No. 10-244]

In the Matter of the Application of Green Impact Exchange, LLC 
for Registration as a National Securities Exchange; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Grant or Deny an Application for Registration as a 
National Securities Exchange Under Section 6 of the Securities Exchange 
Act of 1934

January 16, 2025.
    On May 9, 2024, Green Impact Exchange, LLC (``GIX'') filed with the 
Securities and Exchange Commission (``Commission'') a Form 1 
application (``Form 1'') under the Securities Exchange Act of 1934 
(``Act''), seeking registration as a national securities exchange under 
Section 6 of the Act.\1\ Notice of the application was published for 
comment in the Federal Register on July 23, 2024.\2\ The Commission 
received comments on the GIX Form 1,\3\ all expressing support for the 
Form 1. On October 21, 2024, the Commission instituted proceedings 
pursuant to Section 19(a)(1)(B) of the Act \4\ to determine whether to 
grant or deny GIX's application for registration as a national 
securities exchange under Section 6 of the Act.\5\ After issuing the 
OIP, the Commission received comments opposing the Form 1 and a 
response letter from GIX.
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    \1\ 15 U.S.C. 78f.
    \2\ See Securities Exchange Act Release No. 100547 (July 17, 
2024), 89 FR 59795 (``Notice'').
    \3\ The public comment file for GIX's Form 1 (File No. 10-244) 
is available on the Commission's website at: https://www.sec.gov/comments/10-244/10-244.htm.
    \4\ 15 U.S.C. 78s(a)(1)(B).
    \5\ See Securities Exchange Act Release No. 101397, 89 FR 85264 
(Oct. 25, 2024) (``OIP'').
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    Section 19(a)(1)(B) of the Act provides that proceedings instituted 
to determine whether to deny an application for registration as a 
national securities exchange shall be concluded within 180 days of the 
date of a publication of notice of the filing of the application for 
registration.\6\ At the conclusion of such proceedings, the Commission, 
by order, shall grant or deny such registration.\7\ The Commission may 
extend the time for conclusion of such proceedings for up to 90 days if 
it finds good cause for such extension and publishes its reasons for so 
finding.\8\ The Notice was published for comment in the Federal 
Register on July 23, 2024.\9\ The 180th day after publication of the 
Notice is January 19, 2025. The Commission is extending the time period 
for granting or denying GIX's application for registration as a 
national securities exchange for an additional 90 days.
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    \6\ 15 U.S.C. 78s(a)(1)(B).
    \7\ Id.
    \8\ Id.
    \9\ See supra note 2 and accompanying text.
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    The Commission finds good cause for extending the period for 
granting or denying GIX's application for registration as a national 
securities exchange because the extension will provide additional time 
for the Commission to assess whether GIX's Form 1 satisfies the 
requirements of the Act and the rules and regulations thereunder. As 
described in the Notice and OIP, GIX proposes to adopt novel Green 
Governance Standards.\10\ Therefore, the Commission believes that there 
is good cause to extend the time for conclusion of the proceedings for 
90 days.
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    \10\ See OIP, supra note 5, 89 FR at 85266-67.
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    Accordingly, the Commission, pursuant to Section 19(a)(1)(B) of the 
Act,\11\ designates April 19, 2025, as the date by which the Commission 
shall either grant or deny GIX's Form 1.
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    \11\ 15 U.S.C. 78s(a)(1)(B).

[[Page 8229]]

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    By the Commission.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-01560 Filed 1-24-25; 8:45 am]
BILLING CODE 8011-01-P
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