Notice2022-11203
Consolidated Tape Association; Notice of Designation of a Longer Period for Commission Action on the Twenty-Fifth Charges Amendment to the Second Restatement of the CTA Plan and Sixteenth Charges Amendment to the Restated CQ Plan
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
May 25, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 101 (Wednesday, May 25, 2022)</title>
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[Federal Register Volume 87, Number 101 (Wednesday, May 25, 2022)]
[Notices]
[Pages 31921-31922]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-11203]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-94952; File No. SR-CTA/CQ-2021-03]
Consolidated Tape Association; Notice of Designation of a Longer
Period for Commission Action on the Twenty-Fifth Charges Amendment to
the Second Restatement of the CTA Plan and Sixteenth Charges Amendment
to the Restated CQ Plan
May 19, 2022.
On November 5, 2021,\1\ certain participants in the Second
Restatement of the Consolidated Tape Association (``CTA'') Plan and
Restated Consolidated Quotation (``CQ'') Plan (collectively ``CTA/CQ
Plans'' or ``Plans'') \2\ filed with the Securities and Exchange
Commission (``SEC'' or ``Commission''), pursuant to Section 11A of the
Securities Exchange Act of 1934 (``Act'') \3\ and Rule 608 of
Regulation National Market System (``NMS'') thereunder,\4\ a proposal
(``Proposed Amendments'') to amend the Plans.\5\ The Proposed
Amendments
[[Page 31922]]
were published for comment in the Federal Register on November 26,
2021.\6\
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\1\ See Letter from Robert Books, Chair, CTA/CQ Operating
Committee, to Vanessa Countryman, Secretary, Commission (Nov. 5,
2021).
\2\ The CTA Plan, pursuant to which markets collect and
disseminate last-sale price information for non-Nasdaq-listed
securities, is a ``transaction reporting plan'' under Rule 601 of
Regulation NMS, 17 CFR 242.601, and a ``national market system
plan'' under Rule 608 of Regulation NMS, 17 CFR 242.608. The CQ
Plan, pursuant to which markets collect and disseminate bid/ask
quotation information for non-Nasdaq-listed securities, is a
``national market system plan'' under Rule 608 under the Act, 17 CFR
242.608. See Securities Exchange Act Release Nos. 10787 (May 10,
1974), 39 FR at 17799 (May 20, 1974) (declaring the CTA Plan
effective); 15009 (July 28, 1978), 43 FR at 34851 (Aug. 7, 1978)
(temporarily authorizing the CQ Plan); and 16518 (Jan. 22, 1980), 45
FR at 6521 (Jan. 28, 1980) (permanently authorizing the CQ Plan).
\3\ 15 U.S.C 78k-1.
\4\ 17 CFR 242.608.
\5\ The Proposed Amendments were approved and executed by more
than the required two-thirds of the self-regulatory organizations
(``SROs'') that are participants of the UTP Plan. The participants
that approved and executed the amendments (the ``Participants'')
are: Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc., Cboe EDGA
Exchange, Inc., Cboe EDGX Exchange, Inc., Cboe Exchange, Inc.,
Nasdaq ISE, LLC, Nasdaq PHLX, Inc., The Nasdaq Stock Market LLC, New
York Stock Exchange LLC, NYSE American LLC, NYSE Arca, Inc., NYSE
Chicago, Inc., and NYSE National, Inc.. The other SROs that are
participants in the UTP Plan are: Financial Industry Regulatory
Authority, Inc., The Investors' Exchange LLC, Long-Term Stock
Exchange, Inc., MEMX LLC, MIAX PEARL, LLC, and Nasdaq BX, Inc.
\6\ See Securities Exchange Act Release No. 93625 (Nov. 19,
2021), 86 FR 67517 (Nov. 26, 2021) (``Notice''). Comments received
in response to the Notice are available at <a href="https://www.sec.gov/comments/sr-ctacq-2021-03/srctacq202103.htm">https://www.sec.gov/comments/sr-ctacq-2021-03/srctacq202103.htm</a>.
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On February 24, 2022, the Commission instituted proceedings
pursuant to Rule 608(b)(2)(i) of Regulation NMS,\7\ to determine
whether to approve or disapprove the Proposed Amendments or to approve
the Proposed Amendments with any changes or subject to any conditions
the Commission deems necessary or appropriate after considering public
comment.\8\ Rule 608(b)(2)(i) of Regulation NMS provides that such
proceedings shall be concluded within 180 days of the date of the
publication of notice of the plan or amendment and that the time for
conclusion of such proceedings may be extended for up to 60 days (up to
240 days from the date of notice publication) if the Commission
determines that a longer period is appropriate and publishes the
reasons for such determination or the plan participants consent to a
longer period.\9\ The 180th day after publication of the Notice for the
Proposed Amendments is May 25, 2022. The Commission is extending this
180-day period.
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\7\ 17 CFR 242.608(b)(2)(i).
\8\ See Securities Exchange Act Release No. 94310 (Feb. 24,
2022), 87 FR 11748 (Mar. 2, 2022) (``OIP''). Comments received in
response to the OIP can be found on the Commission's website at
<a href="https://www.sec.gov/comments/sr-ctacq-2021-03/srctacq202103.htm">https://www.sec.gov/comments/sr-ctacq-2021-03/srctacq202103.htm</a>.
\9\ 17 CFR 242.608(b)(2)(i).
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The Commission finds that it is appropriate to designate a longer
period within which to conclude proceedings regarding the Proposed
Amendments so that it has sufficient time to consider the Proposed
Amendments and the comments received. Accordingly, pursuant to Rule
608(b)(2)(i) of Regulation NMS,\10\ the Commission designates July 24,
2022, as the date by which the Commission shall conclude the
proceedings to determine whether to approve or disapprove the Proposed
Amendments or to approve the Proposed Amendments with any changes or
subject to any conditions the Commission deems necessary or appropriate
(File No. SR-CTA/CQ-2021-03).
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\10\ Id.
\11\ 17 CFR 200.30-3(a)(85).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-11203 Filed 5-24-22; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on May 25, 2022.
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