# Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend the Exchange's Rules Relating to Position and Exercise Limits
On November 29, 2023, Cboe Exchange, Inc. (the “Exchange” or “Cboe Options”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the “Act”), [^1] and Rule 19b-4 thereunder, [^2] a proposed rule change to amend its rules relating to position and exercise limits The proposed rule change was published for comment in the *Federal Register* on December 14, 2023. [^3] The Commission received comment letters regarding the proposed rule change. [^4]
[^1] 15 U.S.C. 78s(b)(1).
[^2] 17 CFR 240.19b-4.
[^3]*See* Securities Exchange Act Release No. 99119 (Dec. 8, 2023), 88 FR 86701 (“Notice”).
[^4] Comment letters regarding the proposed rule change are available at *https://www.sec.gov/comments/sr-cboe-2023-063/srcboe2023063.htm.*
On January 23, 2024, pursuant to Section 19(b)(2) of the Act, [^5] 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. [^6] On March 12, 2024, the Commission instituted proceedings under Section 19(b)(2)(B) of the Act [^7] to determine whether to approve or disapprove the proposed rule change. [^8]
[^5] 15 U.S.C. 78s(b)(2).
[^6]*See* Securities Exchange Act Release No. 99417 (Jan. 23, 2024), 89 FR 5588 (Jan. 29, 2024).
[^7] 15 U.S.C. 78s(b)(2)(B).
[^8]*See* Securities Exchange Act Release No. 99721 (Mar. 12, 2024), 89 FR 19622 (Mar. 19, 2024).
Section 19(b)(2) of the Act [^9] 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 proposed rule change was published for comment in the *Federal Register* on December 14, 2023. [^10] The 180th day after publication of the proposed rule change is June 11, 2024. The Commission is extending the time period for approving or disapproving the proposed rule change for an additional 60 days.
[^9] 15 U.S.C. 78s(b)(2).
[^10]*See supra* note 3.
The Commission finds that it is 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 and the issues raised therein. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, [^11] designates August 10, 2024, as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR-CBOE-2023-063).
[^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. <sup>12</sup>
Sherry R. Haywood,
Assistant Secretary.