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 Permit Orders Comprised of Options and Futures Legs (“Future-Option Orders”)

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102633; File No. SR-CBOE-2024-042]

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 Permit Orders Comprised of Options and Futures Legs (“Future-Option Orders”)

March 12, 2025.

I. Introduction

On September 17, 2024, Cboe Exchange, Inc. (“Exchange”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”)

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and Rule 19b-4 thereunder,

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a proposed rule change to permit future-option orders. The proposed rule change was published for comment in the

Federal Register

on October 8, 2024.

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On November 18, 2024, the Commission extended the time period within which to approve, disapprove the proposed rule change, or institute proceedings to determine whether to approve or disapprove the proposed rule change to January 6, 2025.

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On January 6, 2025, the Commission instituted proceedings under Section 19(b)(2)(B) of the Act

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to determine whether to approve or disapprove the proposed rule change (“Order Instituting Proceedings”).

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1

15 U.S.C. 78s(b)(1).

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17 CFR 240.19b-4.

3

See

Securities Exchange Act Release No. 101229 (Oct. 1, 2024), 89 FR 81592 (“Notice”).

4

See

Securities Exchange Act Release No. 101646, 89 FR 92726 (November 22, 2024).

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

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See

Securities Exchange Act Release No. 102126, 90 FR 2759 (January 13, 2025).

Section 19(b)(2) of the Act

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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 notice and comment in the

Federal Register

on October 8, 2024.

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April 6, 2025 is 180

days from that date, and June 5, 2025 is 240 days from that date.

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

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See

Notice,

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 and its comments. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,

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designates June 5, 2025 as the date by which the Commission shall either approve or disapprove the proposed rule change, as modified by Amendment No. 1 (File No. SR-CBOE-2024-042).

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

Commission shall either approve or disapprove the proposed rule change (File No. SR-Phlx-2024-15).

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.

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10

17 CFR 200.30-3(a)(57).

Sherry R. Haywood,

Assistant Secretary.

[FR Doc. 2025-04354 Filed 3-17-25; 8:45 am]

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