Notice2022-06105
Self-Regulatory Organizations; New York Stock Exchange LLC; 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 Rules 7.31, 7.35, 7.35B, 7.35C, 98, and 104 Relating to the Closing Auction
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 23, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 56 (Wednesday, March 23, 2022)</title>
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[Federal Register Volume 87, Number 56 (Wednesday, March 23, 2022)]
[Notices]
[Page 16539]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-06105]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-94457; File No. SR-NYSE-2021-44]
Self-Regulatory Organizations; New York Stock Exchange LLC;
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 Rules 7.31, 7.35, 7.35B, 7.35C, 98, and 104
Relating to the Closing Auction
March 17, 2022.
On September 3, 2021, New York Stock Exchange LLC (``NYSE'' or
``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 amend Rules 7.31 (Orders and Modifiers), 7.35
(General), 7.35B (DMM-Facilitated Closing Auctions), 7.35C (Exchange-
Facilitated Auctions), 98 (Operation of a DMM Unit), and 104 (Dealings
and Responsibilities of DMMs) relating to the Closing Auction. The
proposed rule change was published for comment in the Federal Register
on September 22, 2021.\3\ On November 1, 2021, pursuant to Section
19(b)(2) of the Act,\4\ the Commission extended the time 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 to December 21, 2021.\5\ The
Commission has received two comment letters on the proposal.\6\ On
December 17, 2021, 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\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 93037 (Sept. 16,
2021), 86 FR 52719 (Sept. 22, 2021) (SR-NYSE-2021-44) (``Notice'').
\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 93488 (Nov. 1,
2021), 86 FR 61352 (Nov. 5, 2021).
\6\ See Anonymous Letter (Sept. 27, 2021); Letter to J. Matthew
DeLesDernier, Assistant Secretary, Commission, from Richard Grant,
General Counsel, GTS Securities, LLC (Mar. 16, 2022).
\7\ 15 U.S.C. 78s(b)(2)(B).
\8\ See Securities Exchange Act Release No. 93809 (Dec. 17,
2021), 86 FR 73060 (Dec. 23, 2021).
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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, however, extend the period for issuing an order
approving or disapproving the proposed rule change 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 September
22, 2021.\10\ The 180th day after publication of the proposed rule
change is March 21, 2022.
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\9\ 15 U.S.C. 78s(b)(2).
\10\ See Notice, supra note 3.
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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. The Commission is extending the time period for
approving or disapproving the proposed rule change for an additional 60
days.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Act,\11\ designates May 20, 2022, as the date by which the Commission
shall either approve or disapprove the proposed rule change (File
Number SR-NYSE-2021-44).
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\11\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-06105 Filed 3-22-22; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on March 23, 2022.
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