I. Extensions to Day 90

On the dates listed in Table 1 below, the following self-regulatory organizations (collectively, the “SROs”) 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] proposed rule changes to amend their rules pertaining to various matters described in Table 1. Some of the proposed rule changes were published for comment in the Federal Register on the dates indicated below. Section 19(b)(2) of the Act ^[3] provides that within 45 days of the publication of 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 filings identified in Table 1 below have as their 45th day after publication of the notice (“Day 45”) a date that falls within the month of November 2025. The Commission is extending these 45-day time periods. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule changes so that it has sufficient time to consider the proposed rule changes and the issues raised therein.^[4] Accordingly, pursuant to Section 19(b)(2) of the Act,^[5] the Commission designates the dates listed in Table 1 below (“Day 90”) as the dates by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the respective filings.

II. Extensions to Day 240

The Commission initiated proceedings under Section 19(b)(2)(B) of the Act ^[6] by issuing orders instituting proceedings (“OIPs”) on certain proposed rule changes identified below in Table 2, to determine whether to approve or disapprove them. Section 19(b)(2) of the Act ^[7] 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 filings identified in Table 2 below have as their 180th day after publication of the notice (“Day 180”) a date that falls within the month of November 2025. The Commission is extending consideration of each of these proceedings for an additional 60 days. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving each proposed rule change so that it has sufficient time to consider each proposed rule change and the issues raised therein.^[8] Accordingly, pursuant to Section 19(b)(2) of the Act,^[9] the Commission designates the dates listed in Table 2 below (“Day 240”) as the dates by which the Commission shall either approve or disapprove the filings.