
[Federal Register Volume 88, Number 247 (Wednesday, December 27, 2023)]
[Notices]
[Page 89485]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-28452]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-99209; File No. SR-EMERALD-2023-13]


Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of 
Designation of Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove Proposed Rule Change To 
Increase Fees for the ToM Market Data Product and Establish Fees for 
the cToM Market Data Product

December 20, 2023.
    On June 7, 2023, MIAX Emerald, LLC (``MIAX Emerald'' or the 
``Exchange'') 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 (File Number SR-EMERALD-2023-13) to increase fees 
for the MIAX Emerald Top of Market (``ToM'') market data product and 
establish fees for the MIAX Emerald Complex Top of Market (``cToM'') 
market data product. The proposed rule change was immediately effective 
upon filing with the Commission pursuant to Section 19(b)(3)(A) of the 
Act.\3\ The proposed rule change was published for comment in the 
Federal Register on June 26, 2023.\4\ On August 3, 2023, the Commission 
issued an order temporarily suspending the proposed rule change 
pursuant to Section 19(b)(3)(C) of the Act \5\ and simultaneously 
instituting proceedings under Section 19(b)(2)(B) of the Act \6\ to 
determine whether to approve or disapprove the proposed rule change.\7\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A). A proposed rule change may take 
effect upon filing with the Commission if it is designated by the 
exchange as ``establishing or changing a due, fee, or other charge 
imposed by the self-regulatory organization on any person, whether 
or not the person is a member of the self-regulatory organization.'' 
15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ See Securities Exchange Act Release No. 97767 (June 20, 
2023), 88 FR 41442 (``Notice'').
    \5\ 15 U.S.C. 78s(b)(3)(C).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 98051, 88 FR 53937 
(August 9, 2023) (``Order Instituting Proceedings'').
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    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 notice and comment in the Federal Register on 
June 26, 2023.\9\ December 23, 2023 is 180 days from that date, and 
February 21, 2024 is 240 days from that date.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See Notice, supra note 4.
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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 Act,\10\ designates February 21, 2024 as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-EMERALD-2023-13).
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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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Christina Z. Milnor,
Assistant Secretary.
[FR Doc. 2023-28452 Filed 12-26-23; 8:45 am]
BILLING CODE 8011-01-P


