81 FR 69877 - Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Designation of Longer Period for Commission Action on a Proposed Rule Change To Adopt a New Exception in Exchange Rule 1000(f) for Sub-MPV Split-Priced Orders

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 195 (October 7, 2016)

[Federal Register Volume 81, Number 195 (Friday, October 7, 2016)]
[Notices]
[Pages 69877-69878]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-24277]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79023; File No. SR-Phlx-2016-82]


Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of 
Designation of Longer Period for Commission Action on a Proposed Rule 
Change To Adopt a New Exception in Exchange Rule 1000(f) for Sub-MPV 
Split-Priced Orders

October 3, 2016.
    On August 3, 2016, NASDAQ PHLX LLC (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

[[Page 69878]]

thereunder,\2\ a proposed rule change to provide an exception to the 
mandatory use of the Floor Broker Management System pursuant to Rule 
1000(f)(iii) to permit Floor Brokers to execute certain sub-minimum 
price variation (``sub-MPV'') split-priced orders in the options 
trading crowd rather than electronically. The proposed rule change was 
published for comment in the Federal Register on August 22, 2016.\3\ 
The Commission has received no comment letters on the proposed rule 
change.
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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. 78593 (August 16, 
2016), 81 FR 56724.
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    Section 19(b)(2) of the Act \4\ provides that, within 45 days of 
the publication of the notice of the filing of a proposed rule change, 
or within such longer period up to 90 days as the Commission may 
designate if it finds such longer period to be appropriate and 
publishes its reasons for so finding or as to which the self-regulatory 
organization consents, the Commission shall either approve the proposed 
rule change, disapprove the proposed rule change, or institute 
proceedings to determine whether the proposed rule change should be 
disapproved. The 45th day for this filing is October 6, 2016.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. The Commission finds that it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change so that it has sufficient time to consider and 
take action on the Exchange's proposed rule change.
    Accordingly, pursuant to Section 19(b)(2)(A)(ii)(I) of the Act \5\ 
and for the reasons stated above, the Commission designates November 
20, 2016, as the date by which the Commission should either approve or 
disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change (File No. SR-Phlx-2016-82).
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    \5\ 15 U.S.C. 78s(b)(2)(A)(ii)(I).
    \6\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-24277 Filed 10-6-16; 8:45 am]
 BILLING CODE 8011-01-P