Document ID: SEC-2020-1295-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Cboe Exchange, Inc.
Posted Date: 2020-08-14T04:00Z

[Federal Register Volume 85, Number 158 (Friday, August 14, 2020)]
[Notices]
[Pages 49696-49697]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-17756]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89514; File No. SR-CBOE-2020-055]

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 Rule 5.24

August 10, 2020.
    On June 12, 2020, Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe 
Options'') 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 Rule 5.24 by permitting a virtual trading 
floor as a business continuity and disaster recovery plan. The proposed 
rule change was published for comment in the Federal Register on June 
29, 2020.\3\ On July 23, 2020, the Exchange filed Amendment No. 1 to 
the proposed rule change.\4\ The Commission has received one comment 
letter on the proposed rule change.\5\
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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. 89131 (June 23, 
2020), 85 FR 38951.
    \4\ In Amendment No. 1, the Exchange clarified that the 
temporary all-electronic trading rules set forth in Rule 5.24(e)(1) 
would not apply to classes engaged in the virtual trading floor. The 
Exchange also amended the proposal to permit clerks to access the 
virtual trading floor. When the Exchange filed Amendment No. 1 to 
CBOE-2020-055, it also submitted the text of the amendment as a 
comment letter to the filing, which the Commission made publicly 
available at https://www.sec.gov/comments/sr-cboe-2020-055/srcboe2020055-7470763-221281.pdf.
    \5\ See letter to Secretary, Commission, from Kevin Kennedy, 
Senior Vice President, Nasdaq, dated July 10, 2020, available at 
https://www.sec.gov/comments/sr-cboe-2020-055/srcboe2020055-7409704-219196.pdf.
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    Section 19(b)(2) of the Act \6\ 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

[[Page 49697]]

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 13, 2020.
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    \6\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending this 45-day time period. The Commission 
finds that it is appropriate to designate a longer period within which 
to take action on the proposal so that it has sufficient time to 
consider the proposed rule change, as modified by Amendment No. 1. 
Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\7\ designates September 27, 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 (File No. 
SR-CBOE-2020-055), as modified by Amendment No. 1.
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    \7\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-17756 Filed 8-13-20; 8:45 am]
BILLING CODE 8011-01-P