
[Federal Register Volume 77, Number 184 (Friday, September 21, 2012)]
[Notices]
[Page 58604]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-23289]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67871; File No. SR-BOX-2012-003]


 Self-Regulatory Organizations; BOX Options Exchange LLC; Notice 
of Designation of a Longer Period for Commission Action on Proposed 
Rule Change To Amend the Price Improvement Period

September 17, 2012.
    On July 25, 2012, BOX Options Exchange LLC (``Exchange'') filed 
with the Securities and Exchange Commission (``Commission''), pursuant 
to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 
(``Act''),\2\ and Rule 19b-4 thereunder,\3\ a proposed rule change to 
amend Rule 7150 (the Price Improvement Period (``PIP'')) with respect 
to the execution of quotes and orders that are on the BOX Book prior to 
the start of a PIP. The proposed rule change was published for comment 
in the Federal Register on August 9, 2012.\4\ The Commission received 
one comment letter on the proposal.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ See Securities Exchange Act Release No. 67592 (August 3, 
2012), 77 FR 47681.
    \5\ See Letter to Elizabeth M. Murphy, Secretary, Commission, 
from Kurt Eckert, Principal, Wolverine Trading, LLC, dated August 
30, 2012.
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    Section 19(b)(2) of the Act \6\ provides that within forty-five 
days of the publication of notice of the filing of a proposed rule 
change, or within such longer period up to ninety days as the 
Commission may designate if it finds such longer period 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 for this filing is September 23, 
2012. The Commission is extending this 45-day time period.
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    \6\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider the Exchange's proposal with respect to the 
execution of quotes and orders that are on the BOX Book prior to the 
start of a PIP, and to consider the comment letter that has been 
submitted in connection with the proposed rule change.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\7\ designates November 7, 2012, as the date by which the 
Commission should either approve or disapprove or institute proceedings 
to determine whether to disapprove the proposed rule change.
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    \7\ 15 U.S.C. 78s(b)(2).

    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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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-23289 Filed 9-20-12; 8:45 am]
BILLING CODE 8011-01-P


