Document ID: SEC-2020-1902-0001
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]
[Page 77334]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-26412]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90513; File No. SR-BOX-2020-16]

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, a Proposed Rule Change in 
Connection With the Proposed Establishment of the Boston Security Token 
Exchange LLC as a Facility of the Exchange

November 24, 2020.
    On May 12, 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 (``Act'') 
\1\ and Rule 19b-4 thereunder,\2\ a proposed rule change in connection 
with the proposed commencement of operations of the Boston Security 
Token Exchange LLC (``BSTX'') as a facility of the Exchange. 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 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 August 3, 2020, the Exchange filed 
Amendment No. 1 to the proposed rule change (``Amendment No. 1'').\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 proposed 
rule change, as modified by Amendment No. 1.\7\ The Commission has 
received no comments letters on the proposed rule change, as modified 
by Amendment No. 1.\8\
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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. 88949 (May 26, 
2020), 85 FR 33258 (June 1, 2020) (``Original Notice'').
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 89329 (July 16, 
2020), 85 FR 44333 (July 22, 2020).
    \6\ Amendment No. 1 was filed as a partial amendment. The 
Exchange also submitted a redline that the Exchange states reflects 
the changes in the partial amendment compared to the original 19b-4 
that was filed on May 12, 2020 and published as the Original Notice. 
This redline is available on the Commission's website at: https://www.sec.gov/comments/sr-box-2020-16/srbox202016-7525322-222100.pdf.
    \7\ See Securities Exchange Act Release No. 89537 (August 12, 
2020), 85 FR 50850 (August 18, 2020).
    \8\ The Commission notes that the proposed rule change, as 
modified by Amendment No. 1, is substantially similar to previously-
filed proposed rule change, SR-BOX-2019-37, which was published for 
comment in the Federal Register on January 3, 2020. See Securities 
Exchange Act Release No. 87868 (December 30, 2019), 85 FR 345 
(January 3, 2020) (SR-BOX-2019-37) (Notice of Filing of Proposed 
Rule Change). The Exchange withdrew proposed rule change SR-BOX-
2019-37 on May 12, 2020. See Securities Exchange Act Release No. 
89017 (June 4, 2020), 85 FR 35473 (June 10, 2020) (Notice of 
Withdrawal of a Proposed Rule Change).
    As applicable, the Commission will considers comment submitted 
on SR-BOX-2019-37 and SR-BOX-2020-16 in its review of SR-BOX-2020-
16. Comments on SR-BOX-2019-37 can be found at: https://www.sec.gov/comments/sr-box-2019-37/srbox201937.htm.
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    Section 19(b)(2) of the Act \9\ 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.\10\ 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,\11\ 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-2020-16).
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    \9\ 15 U.S.C. 78s(b)(2).
    \10\ See Original Notice, supra note 3.
    \11\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-26412 Filed 11-30-20; 8:45 am]
BILLING CODE 8011-01-P