Document ID: SEC-2017-0846-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: BOX Options Exchange, LLC
Posted Date: 2017-05-24T04:00Z

[Federal Register Volume 82, Number 99 (Wednesday, May 24, 2017)]
[Notices]
[Page 23935]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-10587]

[[Page 23935]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80719; File No. SR-BOX-2016-48]

Self-Regulatory Organizations; BOX Options Exchange LLC; Notice 
of Designation of Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change, as 
Modified by Amendment Nos. 1 and 2 Thereto, To Adopt Rules for an Open-
Outcry Trading Floor

May 18, 2017.
    On November 16, 2016, BOX Options Exchange LLC (the ``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 
adopt rules for an open-outcry trading floor. The proposed rule change 
was published for comment in the Federal Register on December 05, 
2016.\3\ The Commission received three comment letters in response to 
the publication of the Notice.\4\ On January 10, 2017, the Commission 
extended the time period within which to approve the proposed rule 
change, disapprove the proposed rule change, or institute proceedings 
to determine whether to approve or disapprove the proposed rule change 
to March 05, 2017.\5\ On February 21, 2017, the Commission received a 
response letter from the Exchange, as well as Amendment No. 1 to the 
proposed rule change.\6\ On March 1, 2017, the Commission instituted 
proceedings to determine whether to approve or disapprove the proposed 
rule change, as modified by Amendment No. 1.\7\ In response to the OIP, 
the Commission received five additional comment letters.\8\ On May 17, 
2017, the Exchange filed Amendment No. 2 to the proposed rule change, 
which replaced and superseded the original filing, as modified by 
Amendment No. 1, in its entirety.\9\
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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. 79421 (November 29, 
2016), 81 FR 87607 (``Notice'').
    \4\ See letters to Brent J. Fields, Secretary, Commission, from 
Angelo Evangelou, Deputy General Counsel, The Chicago Board Options 
Exchange, Inc. (``CBOE''), dated January 10, 2017; Steve 
Crutchfield, Head of Market Structure, CTC Trading Group, LLC (``CTC 
Trading''), dated December 31, 2016; and Joan C. Conley, Senior Vice 
President and Corporate Secretary, The Nasdaq Stock Market LLC 
(``Nasdaq''), dated December 22, 2016.
    \5\ See Securities Exchange Act Release No. 79768, 82 FR 4956 
(January 17, 2017).
    \6\ See letter to Brent J. Fields, Secretary, Commission, from 
Lisa J. Fall, President, Exchange, received February 21, 2017, and 
Amendment No. 1, dated February 21, 2017.
    \7\ See Securities Exchange Act Release No. 80134, 82 FR 12864 
(March 7, 2017) (``OIP'').
    \8\ See letters to Brent J. Fields, Secretary, Commission, from 
Angelo Evangelou, Deputy General Counsel, CBOE, dated April 21, 
2017; Steve Crutchfield, Head of Market Structure, CTC Trading, 
dated April 13, 2017; John Kinahan, CEO, Group One Trading, LP, 
dated April 11, 2017; Elizabeth King, General Counsel and Corporate 
Secretary, New York Stock Exchange, dated March 28, 2017; and Joan 
C. Conley, Senior Vice President and Corporate Secretary, Nasdaq, 
dated March 27, 2017.
    \9\ See Amendment No. 2, dated May 17, 2017, which is being 
published for notice and comment. See Securities Exchange Act 
Release No. 80720 (May 18, 2017).
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    Section 19(b)(2) of the Act \10\ 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 
December 05, 2016.\11\ June 3, 2017 is 180 days from that date, and 
August 2, 2017 is 240 days from that date.
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    \10\ 15 U.S.C. 78s(b)(2).
    \11\ See Notice, supra note 3.
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    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, as modified by Amendment Nos. 1 and 2, the issues raised 
in the comment letters that have been submitted in connection 
therewith, and the Exchange's Response to comments. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\12\ designates 
August 2, 2017 as the date by which the Commission should either 
approve or disapprove the proposed rule change, as modified by 
Amendment Nos. 1 and 2 (File No SR-BOX-2016-48).
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    \12\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(57).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-10587 Filed 5-23-17; 8:45 am]
 BILLING CODE 8011-01-P