83 FR 62395 - Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Adopt Rules Governing the Trading of Complex Qualified Contingent Cross Orders and Complex Customer Cross Orders

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 232 (December 3, 2018)

[Federal Register Volume 83, Number 232 (Monday, December 3, 2018)]
[Notices]
[Pages 62395-62396]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-26139]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84658; File No. SR-BOX-2018-14]


Self-Regulatory Organizations; BOX Options Exchange LLC; Notice 
of Designation of Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change To 
Adopt Rules Governing the Trading of Complex Qualified Contingent Cross 
Orders and Complex Customer Cross Orders

November 27, 2018.
    On May 22, 2018, BOX Options Exchange LLC (``BOX'' 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 to adopt rules governing the trading of Complex 
Qualified Contingent Cross Orders and Complex Customer Cross Orders. 
The proposed rule change was published for comment in the Federal 
Register on June 8, 2018.\3\ On July 16, 2018, 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 
approve or disapprove the proposed rule change.\5\ On September 5, 
2018, the Commission instituted proceedings under Section 19(b)(2)(B) 
of the Act \6\ to determine whether to approve or disapprove the 
proposed rule change.\7\ The Commission received one comment letter 
from the Exchange in response to the Order Instituting Proceedings.\8\
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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. 83367 (June 4, 
2018), 83 FR 26719.
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 83647, 83 FR 34635 
(July 20, 2018). The Commission designated September 6, 2018, as the 
date by which the Commission shall approve or disapprove, or 
institute proceedings to determine whether to approve or disapprove, 
the proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 84031, 83 FR 46003 
(September 11, 2018) (``Order Instituting Proceedings'').
    \8\ See letter to Brent J. Fields, Secretary, Commission, from 
Alanna Barton, General Counsel, BOX, dated October 12, 2018.
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    Section 19(b)(2) of the Act \9\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180

[[Page 62396]]

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 June 8, 2018.\10\ December 5, 2018, is 180 days 
from that date, and February 3, 2019, is 240 days from that date.
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    \9\ 15 U.S.C. 78s(b)(2).
    \10\ 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, the issues raised in the Order Instituting Proceedings, 
and the Exchange's response in its comment letter. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\11\ designates 
February 3, 2019, as the date by which the Commission shall either 
approve or disapprove the proposed rule change (File No. SR-BOX-2018-
14).
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    \11\ 15 U.S.C. 78s(b)(2).
    \12\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-26139 Filed 11-30-18; 8:45 am]
 BILLING CODE 8011-01-P