Document ID: SEC-2021-0333-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Nasdaq PHLX LLC
Posted Date: 2021-03-10T05:00Z

[Federal Register Volume 86, Number 45 (Wednesday, March 10, 2021)]
[Notices]
[Page 13772]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-04909]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91254; File No. SR-Phlx-2020-41]

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 To 
List and Trade Options on a Nasdaq-100 Volatility Index

March 4, 2021.
    On August 24, 2020, Nasdaq PHLX LLC (``Exchange'' or ``Phlx'') 
filed with the Securities and Exchange Commission (``Commission''), 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Exchange Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule 
change to list and trade options on a Nasdaq-100 Volatility Index. The 
proposed rule change was published for comment in the Federal Register 
on September 8, 2020.\3\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 89725 (September 1, 
2020), 85 FR 55544 (``Notice''). Comments on the proposed rule 
change can be found on the Commission's website at: https://www.sec.gov/comments/sr-phlx-2020-41/srphlx202041.htm.
---------------------------------------------------------------------------

    On October 20, 2020, pursuant to Section 19(b)(2) of the Exchange 
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 December 4, 2020, the Commission instituted 
proceedings under Section 19(b)(2)(B) of the Exchange Act \6\ to 
determine whether to approve or disapprove the proposed rule change.\7\
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 90226, 85 FR 67781 
(October 26, 2020). The Commission designated December 7, 2020 as 
the date by which the Commission shall approve or disapprove, or 
institute proceedings to determine whether to disapprove, the 
proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 90573, 85 FR 79552 
(December 10, 2020).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Exchange Act \8\ provides that, after 
initiating disapproval 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 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 
September 8, 2020. March 7, 2021 is 180 days from that date, and May 6, 
2021 is 240 days from that date.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    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. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Exchange Act,\9\ designates May 6, 2021 as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-Phlx-2020-41).
---------------------------------------------------------------------------

    \9\ Id.
    \10\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-04909 Filed 3-9-21; 8:45 am]
BILLING CODE 8011-01-P