[Federal Register Volume 86, Number 105 (Thursday, June 3, 2021)]
[Notices]
[Pages 29817-29818]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-11607]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92040; File No. SR-CBOE-2020-106]


Self-Regulatory Organizations; Cboe 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. 1, To Amend Its Rules Regarding the Minimum 
Increments for Electronic Bids and Offers and Exercise Prices of 
Certain FLEX Options and Clarify in the Rules How the System Ranks FLEX 
Option Bids and Offers for Allocation Purposes

May 27, 2021.
    On November 16, 2020, Cboe Exchange, Inc. 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 amend its rules 
regarding the minimum increments for electronic bids and offers and 
exercise prices of certain FLEX options and clarify how the system 
ranks FLEX option bids and offers for allocation purposes. On November 
30, 2020, the Exchange filed Amendment No. 1 to the proposed rule 
change, which amended and replaced the proposed rule change in its 
entirety. The Commission published notice of the proposed rule change, 
as modified by Amendment No. 1, in the Federal Register on December 4, 
2020.\3\ On January 14, 2021, 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

[[Page 29818]]

rule change, or institute proceedings to determine whether to 
disapprove the proposed rule change.\5\ On March 4, 2021, the 
Commission instituted proceedings under Section 19(b)(2)(B) of the 
Exchange Act \6\ to determine whether to approve or disapprove the 
proposed rule change.\7\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 90536 (November 30, 
2020), 85 FR 78381 (``Notice''). Comments received on the proposed 
rule change are available on the Commission's website at: https://www.sec.gov/comments/sr-cboe-2020-106/srcboe2020106.htm.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 90926, 86 FR 6710 
(January 22, 2021). The Commission designated March 4, 2021, as the 
date by which the Commission shall approve or disapprove, or 
institute proceedings to determine whether to disapprove, the 
proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 91257, 86 FR 13769 
(March 10, 2021).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \8\ provides that, after initiating 
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 comment in the Federal Register on December 4, 
2020.\9\ The 180th day after publication of the Notice is June 2, 2021. 
The Commission is extending the time period for approving or 
disapproving the proposal for an additional 60 days.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See supra note 3.
---------------------------------------------------------------------------

    The Commission finds that it is 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, as modified by Amendment No. 1. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\10\ designates 
August 1, 2021, as the date by which the Commission shall either 
approve or disapprove or the proposed rule change (File Number SR-CBOE-
2020-106), as modified by Amendment No. 1.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-11607 Filed 6-2-21; 8:45 am]
BILLING CODE 8011-01-P


