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

[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

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.

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

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.

9

15 U.S.C. 78s(b)(2).

10

See supra

note 3.

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).

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