Document ID: SEC-2020-1214-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Cboe Exchange, Inc.
Posted Date: 2020-07-31T04:00Z

[Federal Register Volume 85, Number 148 (Friday, July 31, 2020)]
[Notices]
[Pages 46202-46203]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-16573]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89400; File No. SR-CBOE-2020-052]

Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change, as Modified by Amendment No. 1, To Amend Rules 5.37, 5.38, and 
5.73

July 27, 2020.
    On June 3, 2020, Cboe 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 Rules 
5.37, 5.38, and 5.73 to (1) allow the Exchange to determine to 
disseminate the stop price in auction notification messages for 
Automated Improvement Mechanism (``AIM''), Complex Automated 
Improvement Mechanism (``C-AIM''), and FLEX AIM auctions in SPX; and 
(2) modify the minimum increment for C-AIM and FLEX AIM auction 
responses in connection with index combo orders in SPX. The proposed 
rule change was published for comment in the Federal Register on June 
18, 2020.\3\ On July 22, 2020, the Exchange submitted Amendment No. 1 
to the proposed rule change, which replaced and superseded the proposed 
rule change in its entirety.\4\
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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. 89063 (June 12, 
2020), 85 FR 36923. Comments on the proposed rule change can be 
found at: https://www.sec.gov/comments/sr-cboe-2020-052/srcboe2020052.htm.
    \4\ In Amendment No. 1, the Exchange: (1) Amended the proposal 
to add that, when the proposed stop price dissemination in auction 
notification messages is enabled for AIM, C-AIM, or FLEX AIM 
auctions in SPX, it would apply to all such AIM, C-AIM, or FLEX AIM 
auctions; (2) amended the proposal to specify that the proposed 
minimum increment modification applies to index combo orders in SPX, 
and to correct an internal cross-reference within the proposed 
rules; (3) provided additional detail to the description and 
examples of the proposed modification to the minimum increment for 
index combo orders in SPX; and (4) provided additional justification 
and support for the proposed rule change. The full text of Amendment 
No. 1 is available on the Commission's website at: https://www.sec.gov/comments/sr-cboe-2020-052/srcboe2020052-7464403-221166.pdf.

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[[Page 46203]]

    Section 19(b)(2) of the Act \5\ 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 shall either approve the proposed rule change, 
disapprove the 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 August 2, 2020. The Commission is extending this 45-day time period.
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    \5\ 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, as modified by 
Amendment No. 1, and the comments received. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\6\ designates 
September 16, 2020 as the date by which the Commission shall either 
approve or disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change, as modified by Amendment No. 1 
(File No. SR-CBOE-2020-052).
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    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-16573 Filed 7-30-20; 8:45 am]
BILLING CODE 8011-01-P