[Federal Register Volume 83, Number 44 (Tuesday, March 6, 2018)]
[Notices]
[Pages 9561-9562]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-04512]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-82794/March 1, 2018]
Securities Exchange Act of 1934; Order Granting Petitions for
Review and Scheduling Filing of Statements
In the Matter of the Cboe BZX Exchange, Inc.
For an Order Granting the Approval of Proposed Rule Change to
Introduce Cboe Market Close, a Closing Match Process for Non-BZX
Listed Securities under New Exchange Rule 11.28 (File No. SR-
BatsBZX-2017-34)
This matter comes before the Securities and Exchange Commission
(``Commission'') on petition to review the approval, pursuant to
delegated authority, of the Bats BZX Exchange, Inc. (now known as Cboe
BZX Exchange, Inc.) (``BZX'' or ``Exchange'') proposed rule change to
adopt Cboe Market Close, a closing match process for non-BZX Listed
Securities.
On May 16, 2017, the Commission issued a notice of filing of the
proposed rule change filed with the Commission pursuant to Section
19(b)(1) of the Securities Exchange Act of 1934 (``Exchange Act'') \1\
and Rule 19b-4 \2\ thereunder.\3\ On July 3, 2017, a longer time period
was designated within which to act on the proposed rule change.\4\ On
August 18, 2017, proceedings were instituted under Section 19(b)(2)(B)
of the Exchange Act \5\ to determine whether to approve or disapprove
the proposed rule change.\6\ On November 17, 2017, pursuant to Section
19(b)(2) of the Exchange Act,\7\ a longer period was designated for
Commission action on proceedings to determine whether to approve or
disapprove the proposed rule change.\8\ On December 1, 2017, the
Exchange filed Amendment No. 1 to the proposed rule change, renaming
``Bats Market Close'' as ``Cboe Market Close.'' On January 17, 2018,
after consideration of the record for the proposed rule change, the
Division of Trading and Markets (``Division''), pursuant to delegated
authority,\9\ approved the proposed rule
[[Page 9562]]
change, as modified by Amendment No. 1 (``Approval Order'').\10\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Exchange Act Release No. 80683, 82 FR 23320 (May, 22
2017).
\4\ See Exchange Act Release No. 81072, 82 FR 31792 (July 10,
2017).
\5\ 15 U.S.C. 78s(b)(2)(B).
\6\ See Exchange Act Release No. 81437, 82 FR 40202 (Aug. 24,
2017).
\7\ 15 U.S.C. 78s(b)(2).
\8\ See Exchange Act Release No. 82108, 82 FR 55894 (Nov. 24,
2017).
\9\ 17 CFR 200.30 3(a)(12).
\10\ See Exchange Act Release No. 82522, 83 FR 3205 (Jan. 23,
2018).
---------------------------------------------------------------------------
On January 31, 2018, pursuant to Commission Rule of Practice
430,\11\ NYSE Group, Inc. (``NYSE'') and The Nasdaq Stock Market LLC
(``Nasdaq'') each filed petitions for review of the Approval Order.
Pursuant to Commission Rule of Practice 431(e), the Approval Order is
stayed by the filing with the Commission of a notice of intention to
petition for review.\12\ Pursuant to Rule 431 of the Rules of
Practice,\13\ the petitions for review of the Approval Order of NYSE
and Nasdaq are granted.\14\ Further, the Commission hereby establishes
that any party to the action or other person may file a written
statement in support of or in opposition to the Approval Order on or
before March 22, 2018.
---------------------------------------------------------------------------
\11\ 17 CFR 201.430.
\12\ 17 CFR 201.431(e).
\13\ 17 CFR 201.431.
\14\ On February 2, 2018, NYSE filed a corrected petition for
review that the Commission will consider in lieu of the version
filed on January 31, 2018.
---------------------------------------------------------------------------
For the reasons stated above, it is hereby:
Ordered that the petitions of NYSE and Nasdaq for review of the
Division's action to approve the proposed rule change by delegated
authority be granted; and
It is further ordered that any party or other person may file a
statement in support of or in opposition to the action made pursuant to
delegated authority on or before March 22, 2018.
It is further ordered that the January 17, 2018 order approving the
proposed rule change, as modified by Amendment No. 1 (File No. SR-
BatsBZX-2017-34), shall remain stayed pending further order by the
Commission.
By the Commission.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-04512 Filed 3-5-18; 8:45 am]
BILLING CODE 8011-01-P