On August 28, 2023, Nasdaq PHLX LLC (“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 amend Equity 4, Rules 3301A and 3301B to establish new “Contra Midpoint Only” and “Contra Midpoint Only with Post-Only” order types and to make other corresponding changes to the rulebook. The proposed rule change was published for comment in the Federal Register on September 8, 2023.^[3]

On September 26, 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 November 2, 2023, the Exchange filed Partial Amendment No. 1 to the proposed rule change.^[6] On December 5, 2023, the Commission published Partial Amendment No. 1 for notice and comment and instituted proceedings under section 19(b)(2)(B) of the Act ^[7] to determine whether to approve or ( printed page 18466) disapprove the proposed rule change, as modified by Partial Amendment No. 1.^[8]

On March 4, 2024, the Exchange withdrew the proposed rule change, as modified by Partial Amendment No. 1 (File No. SR-PHLX-2023-40).