Notice2022-11204
Consolidated Tape Association; Notice of Designation of a Longer Period for Commission Action on the Thirty-Seventh Substantive Amendment to the Second Restatement of the CTA Plan and Twenty-Eighth Substantive 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
<html>
<head>
<title>Federal Register, Volume 87 Issue 101 (Wednesday, May 25, 2022)</title>
</head>
<body><pre>
[Federal Register Volume 87, Number 101 (Wednesday, May 25, 2022)]
[Notices]
[Pages 31920-31921]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-11204]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-94951; File No. SR-CTA/CQ-2021-02]
Consolidated Tape Association; Notice of Designation of a Longer
Period for Commission Action on the Thirty-Seventh Substantive
Amendment to the Second Restatement of the CTA Plan and Twenty-Eighth
Substantive Amendment to the Restated CQ Plan
May 19, 2022.
On November 5, 2021,\1\ the Participants \2\ in the Second
Restatement of the Consolidated Tape Association (``CTA'') Plan and
Restated Consolidated Quotation (``CQ'') Plan (collectively ``CTA/CQ
Plans'' or ``Plans'') \3\ filed with the Securities and Exchange
Commission (``Commission''), pursuant to Section 11A of the Securities
Exchange Act of 1934 (``Act'') \4\ and Rule 608 of Regulation National
Market System (``NMS'') thereunder,\5\ a proposal (``Proposed
Amendments'') to amend the Plans. The Proposed Amendments were
published for comment in the Federal Register on November 29, 2021.\6\
---------------------------------------------------------------------------
\1\ See Letter from Robert Books, Chair, CTA/CQ Operating
Committee, to Vanessa Countryman, Secretary, Commission (Nov. 5,
2021).
\2\ The Participants are: Cboe BYX Exchange, Inc., Cboe BZX
Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc.,
Cboe Exchange, Inc., Financial Industry Regulatory Authority, Inc.,
The Investors' Exchange LLC, Long-Term Stock Exchange, Inc., MEMX
LLC, MIAX PEARL, LLC, Nasdaq BX, 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. (collectively, the ``Participants'').
\3\ 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).
\4\ 15 U.S.C 78k-1.
\5\ 17 CFR 242.608.
\6\ See Securities Exchange Act Release No. 93615 (Nov. 29,
2021), 86 FR 67800 (Nov. 29, 2021) (``Notice''). Comments received
in response to the Notice can be found on the Commission's website
at <a href="https://www.sec.gov/comments/sr-ctacq-2021-02/srctacq202102.htm">https://www.sec.gov/comments/sr-ctacq-2021-02/srctacq202102.htm</a>.
---------------------------------------------------------------------------
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
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 28, 2022. The Commission is extending this
180-day period.
---------------------------------------------------------------------------
\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-2021-02/srctacq202102.htm">https://www.sec.gov/comments/sr-ctacq-2021-02/srctacq202102.htm</a>.
\9\ 17 CFR 242.608(b)(2)(i).
---------------------------------------------------------------------------
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 27,
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-2021-02).
---------------------------------------------------------------------------
\10\ Id.
\11\ 17 CFR 200.30-3(a)(85).
[[Page 31921]]
---------------------------------------------------------------------------
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-11204 Filed 5-24-22; 8:45 am]
BILLING CODE 8011-01-P
</pre></body>
</html>Indexed from Federal Register on May 25, 2022.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.