[Federal Register Volume 86, Number 19 (Monday, February 1, 2021)]
[Notices]
[Pages 7753-7754]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-02006]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90993; File No. SR-CboeBYX-2020-021]


Self-Regulatory Organizations; Cboe BYX 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 Introduce Periodic Auctions for the 
Trading of U.S. Equity Securities

January 26, 2021.
    On July 17, 2020, Cboe BYX Exchange, Inc. (``Exchange'' or ``BYX'') 
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 introduce periodic auctions in U.S. equity securities. The 
proposed rule change was published for comment in the Federal Register 
on August 4, 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. 89424 (July 29, 
2020), 85 FR 47262.
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    On September 10, 2020, pursuant to Section 19(b)(2) of the Exchange 
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 October 27, 2020, the Exchange filed 
Amendment No. 1 to the proposed rule change, and on October 28, 2020 
the Exchange filed Amendment No. 2 to the proposed rule change, which 
replaced in its entirety the proposed rule change as modified by 
Amendment No. 1.\6\ On October 30, 2020, the Commission noticed the 
filing of Amendment No. 2 and instituted proceedings under Section 
19(b)(2)(B) of the Exchange Act \7\ to determine whether to approve or 
disapprove the proposed rule change.\8\ The Commission has received 
comment letters on the proposed rule change.\9\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 89820, 85 FR 57891 
(September 16, 2020). The Commission designated November 2, 2020 as 
the date by which the Commission shall approve or disapprove, or 
institute proceedings to determine whether to disapprove, the 
proposed rule change.
    \6\ Comments on the proposal, including Amendments No. 1 and No. 
2, can be found on the Commission's website at: https://www.sec.gov/comments/sr-cboebyx-2020-021/srcboebyx2020021.htm.
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ See Securities Exchange Act Release No. 90288, 85 FR 70678 
(November 5, 2020).
    \9\ Comments on the proposed rule change can be found on the 
Commission's website at: https://www.sec.gov/comments/sr-cboebyx-2020-021/srcboebyx2020021.htm.
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    Section 19(b)(2) of the Exchange 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 by not more than 60 
days if the Commission determines that a longer period is appropriate 
and publishes reasons for such determination. The proposed rule change 
was published for notice and comment in the Federal Register on August 
4, 2020. January 31,

[[Page 7754]]

2021 is 180 days from that date, and April 1, 2021 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 the proposed 
rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Exchange Act,\11\ designates April 1, 2021 as the date by which 
the Commission shall either approve or disapprove the proposed rule 
change (File No. SR-CboeBYX-2020-021).
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    \11\ Id.
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    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)(31).

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-02006 Filed 1-29-21; 8:45 am]
BILLING CODE 8011-01-P


