[Federal Register Volume 88, Number 142 (Wednesday, July 26, 2023)]
[Notices]
[Pages 48278-48279]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-15771]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97956; File No. SR-CBOE-2023-005]


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 Make Permanent the Operation of the 
Program That Allows the Exchange to List P.M.-Settled Third Friday-of-
the-Month S&P 500 Stock Index Options (``SPX'') Series

July 20, 2023.
    On January 6, 2023, Cboe Exchange, Inc. (``Exchange'' or ``Cboe 
Options'') 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 to make permanent the operation of its pilot 
program (``Program'') that permits the Exchange to list p.m.-settled 
third Friday-of-the-month SPX options (``SPXPM''). The proposed rule 
change was published for comment in the Federal Register on January 24, 
2023.\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. 96703 (January 18, 
2023), 88 FR 4265.
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    On March 7, 2023, 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 March 17, 2023, the Exchange filed Amendment No. 1 to the 
proposed rule change (``Amendment No. 1'').\6\ On April 24, 2023, the 
Commission instituted proceedings to determine whether to approve or 
disapprove the proposed rule change and published Amendment No. 1 for 
notice and comment.\7\
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    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 97063, 88 FR 15476 
(March 13, 2023).
    \6\ Amendment No. 1 is available at: https://www.sec.gov/comments/sr-cboe-2023-005/srcboe2023005.htm.
    \7\ See Securities Exchange Act Release No. 97367 (April 24, 
2023), 88 FR 26366 (April 28, 2023).
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    Section 19(b)(2) of the Exchange 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

[[Page 48279]]

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 reasons 
for such determination. The proposed rule change was published for 
notice and comment in the Federal Register on January 24, 2023.\9\ The 
180th day after publication of the proposed rule change is July 23, 
2023. The Commission is extending the time period for approving or 
disapproving the proposed rule change for an additional 60 days.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See supra note 3 and accompanying text.
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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 and the issues raised therein. Accordingly, the Commission, 
pursuant to Section 19(b)(2) of the Exchange Act,\10\ designates 
September 21, 2023, as the date by which the Commission shall either 
approve or disapprove the proposed rule change (File No. SR-CBOE-2023-
005).
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    \10\ 15 U.S.C. 78s(b)(2).

    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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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-15771 Filed 7-25-23; 8:45 am]
BILLING CODE 8011-01-P


