80 FR 56525 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change Relating to Rules 6.74A and 6.74B

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 181 (September 18, 2015)

[Federal Register Volume 80, Number 181 (Friday, September 18, 2015)]
[Notices]
[Page 56525]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-23401]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75908; File No. SR-CBOE-2015-026]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Designation of a Longer Period for Commission 
Action on Proceedings To Determine Whether To Approve or Disapprove a 
Proposed Rule Change Relating to Rules 6.74A and 6.74B

September 14, 2015.
    On March 6, 2015, Chicago Board Options Exchange, Incorporated (the 
``Exchange'' or ``CBOE'') filed with the Securities and Exchange 
Commission (the ``Commission''), pursuant to Section 19(b)(1) of the 
Securities Exchange Act of 1934 (the ``Act''),\1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to amend its rules regarding the 
solicitation of Market-Makers as the contra party to an agency order 
entered into the Exchange's Automated Improvement Mechanism (``AIM'') 
and Solicitation Auction Mechanism (``SAM'') auctions. The proposed 
rule change was published for comment in the Federal Register on March 
23, 2015.\3\ On May 4, 2015, the Commission extended the time 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, to June 21, 2015.\4\ On June 18, 
2015, the Commission instituted proceedings to determine whether to 
approve or disapprove the proposed rule change.\5\ On July 21, 2015, 
the Commission received a letter from the Exchange responding to the 
Order Instituting Proceedings.\6\ Subsequently, the Commission received 
one other comment letter on the proposed rule change.\7\
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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. 74519 (March 17, 
2015), 80 FR 15264 (``Notice'').
    \4\ See Securities Exchange Act Release No. 74862 (May 4, 2015), 
80 FR 26599 (May 8, 2015).
    \5\ See Securities Exchange Act Release No. 75245 (June 18, 
2015), 80 FR 36386 (June 24, 2015) (``Order Instituting 
Proceedings'').
    \6\ See Letter to Brent J. Fields, Secretary, Commission, from 
Kyle Edwards, Attorney, CBOE, dated July 21, 2015 (``CBOE Letter'').
    \7\ See Letter to Brent J. Fields, Secretary, Commission, from 
Gavin Rowe, Senior Director, Dash Financial LLC, dated August 11, 
2015 (``Dash Financial Letter'').
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    Section 19(b)(2) of the Act \8\ 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, however, by not 
more than 60 days if the Commission determines that a longer period is 
appropriate and publishes the reasons for such determination. In this 
case, the proposed rule change was published for notice and comment in 
the Federal Register on March 23, 2015.\9\ September 19, 2015, is 180 
days from that date, and November 18, 2015, is 240 days from that date.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See supra note 3.
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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 comment letters submitted in response to the Order 
Instituting Proceedings.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\10\ designates November 18, 2015 as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-CBOE-2015-026).
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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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Brent J. Fields,
Secretary.
[FR Doc. 2015-23401 Filed 9-17-15; 8:45 am]
BILLING CODE 8011-01-P