Document ID: SEC-2020-1906-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: BOX Exchange, LLC
Posted Date: 2020-12-01T05:00Z

[Federal Register Volume 85, Number 231 (Tuesday, December 1, 2020)]
[Notices]
[Pages 77327-77328]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-26411]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90512; File No. SR-BOX-2020-14]

Self-Regulatory Organizations; BOX Exchange LLC; Notice of 
Designation of Longer Period for Commission Action on Proposed Rule 
Change, as Modified by Amendment No. 1, To Adopt Rules Governing the 
Trading of Equity Securities on the Exchange Through a Facility of the 
Exchange Known as the Boston Security Token Exchange LLC

November 24, 2020.
    On May 21, 2020, BOX Exchange LLC (``Exchange'' or ``BOX'') 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 
adopt rules governing the listing and trading of equity securities that 
would be NMS stocks on the Exchange through a facility of the Exchange 
known as the Boston Security Token Exchange LLC (``BSTX''). The 
proposed rule change was published for comment in the Federal Register 
on June 1, 2020.\3\ On July 16, 2020, pursuant to Section 19(b)(2) of 
the Exchange Act,\4\ the Commission designated a longer period within 
which to either approve the proposed rule change, disapprove the 
proposed rule change, or institute proceedings to determine whether to 
disapprove 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. 88946 (May 26, 
2020), 85 FR 33454 (June 1, 2020) (SR-BOX-2020-14) (``Original 
Notice''). Comments received on the proposed rule change are 
available at: https://www.sec.gov/comments/sr-box-2020-14/srbox202014.htm. In Amendment No. 1 to the proposed rule change, 
infra note 6, the Exchange stated that the proposed rule change was 
previously filed with the Commission as the proposed rule change SR-
BOX-2019-19, which the Exchange amended twice, and that the current 
proposed rule change, SR-BOX-2020-14, is ``substantively identical'' 
to the previously-filed proposed rule change, SR-BOX-2019-19, as 
modified by Amendment No. 2. SR-BOX-2019-19, as modified by 
Amendment No. 2, was published for comment in the Federal Register 
on March 6, 2020. See Securities Exchange Act Release No. 88300 
(February 28, 2020), 85 FR 13242 (March 6, 2020) (Notice of Filing 
of Amendment No. 2 to Proposed Rule Change). The Exchange withdrew 
proposed rule change SR-BOX-2019-19 on May 12, 2020. See Securities 
Exchange Act Release No. 89018 (June 4, 2020), 85 FR 35458 (June 10, 
2020) (Notice of Withdrawal of a Proposed Rule Change).
    As applicable, the Commission will consider comments submitted 
on SR-BOX-2019-19 and SR-BOX-2020-14 in its review of SR-BOX-2020-
14. Comments on SR-BOX-2019-19 can be found at: https://www.sec.gov/comments/sr-box-2019-19/srbox201919.htm.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 89328 (July 16, 
2020), 85 FR 44338 (July 22, 2020).
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    On July 31, 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 August 12, 2020, the Commission 
published the proposed rule change, as modified by Amendment No. 1, for 
notice and comment and instituted proceedings to determine whether to 
approve or disapprove the

[[Page 77328]]

proposed rule change, as modified by Amendment No. 1.\7\
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    \6\ Amendment No. 1 is available on the Commission's website at: 
https://www.sec.gov/comments/sr-box-2020-14/srbox202014-7570237-222233.pdf.
    \7\ See Securities Exchange Act Release No. 89536 (August 12, 
2020), 85 FR 51250 (August 19, 2020).
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    Section 19(b)(2) of the 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, 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 June 1, 2020.\9\ November 28, 2020 is 180 days from 
that date, and January 27, 2021 is 240 days from that date. 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 Act,\10\ designated January 27, 2021 as the date by which the 
Commission shall either approve or disapprove the proposed rule change, 
as modified by Amendment No. 1 (File No. SR-BOX-2020-14).
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See Original Notice, supra note 3.
    \10\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-26411 Filed 11-30-20; 8:45 am]
BILLING CODE 8011-01-P