Document ID: SEC-2020-1131-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Cboe BZX Exchange, Inc.
Posted Date: 2020-07-17T04:00Z

[Federal Register Volume 85, Number 138 (Friday, July 17, 2020)]
[Notices]
[Pages 43622-43623]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-15451]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89304; File No. SR-CboeBZX-2020-003]

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change, as 
Modified by Amendment No. 2, to List and Trade Shares of the -1x Short 
VIX Futures ETF Under BZX Rule 14.11(f)(4), Trust Issued Receipts

July 13, 2020.
    On January 3, 2020, Cboe BZX Exchange, Inc. (``Exchange'' or 
``BZX'')

[[Page 43623]]

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 
list and trade shares of the -1x Short VIX Futures ETF, a series of VS 
Trust, under BZX Rule 14.11(f)(4) (Trust Issued Receipts). The proposed 
rule change was published for comment in the Federal Register on 
January 23, 2020.\3\
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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. 87992 (January 16, 
2020), 85 FR 4023.
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    On February 25, 2020, pursuant to Section 19(b)(2) of the 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 March 24, 2020, the Exchange filed Amendment No. 1 to the 
proposed rule change, which replaced and superseded the proposed rule 
change as originally filed.\6\ On April 13, 2020, the Exchange filed 
Amendment No. 2 to the proposed rule change, which replaced and 
superseded the proposed rule change, as modified by Amendment No. 1.\7\ 
On April 22, 2020, the Commission published notice of Amendment No. 2 
and instituted proceedings pursuant to Section 19(b)(2)(B) of the Act 
\8\ to determine whether to approve or disapprove the proposed rule 
change, as modified by Amendment No. 2.\9\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 88276, 85 FR 12353 
(March 2, 2020). The Commission designated April 22, 2020 as the 
date by which the Commission should approve or disapprove, or 
institute proceedings to determine whether to disapprove, the 
proposed rule change.
    \6\ Amendment No. 1 is available at: https://www.sec.gov/comments/sr-cboebzx-2020-003/srcboebzx2020003-6993242-214730.pdf.
    \7\ Amendment No. 2 is available on the Commission's website at: 
https://www.sec.gov/comments/sr-cboebzx-2020-003/srcboebzx2020003-7098109-215773.pdf.
    \8\ 15 U.S.C. 78s(b)(2)(B).
    \9\ See Securities Exchange Act Release No. 88726, 85 FR 23581 
(April 28, 2020). Comments on the proposed rule change can be found 
at: https://www.sec.gov/comments/sr-cboebzx-2020-003/srcboebzx2020003.htm.
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    Section 19(b)(2) of the Act \10\ 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, 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 date 
of publication of notice of filing of the proposed rule change was 
January 23, 2020. July 21, 2020, is 180 days from that date, and 
September 19, 2020, is 240 days from that date.
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    \10\ 15 U.S.C. 78s(b)(2).
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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 this proposed 
rule change, as modified by Amendment No. 2. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\11\ designates 
September 19, 2020, as the date by which the Commission shall either 
approve or disapprove the proposed rule change (File No. SR-CboeBZX-
2020-003).
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    \11\ Id.
    \12\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-15451 Filed 7-16-20; 8:45 am]
 BILLING CODE 8011-01-P