Notice2023-14667
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Rules 4702(b)(14) and (b)(15) Concerning Dynamic M-ELO Holding Periods
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
July 12, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 132 (Wednesday, July 12, 2023)</title>
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[Federal Register Volume 88, Number 132 (Wednesday, July 12, 2023)]
[Notices]
[Pages 44423-44424]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-14667]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-97844; File No. SR-NASDAQ-2022-079]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Designation of a Longer Period on Proceedings To Determine
Whether To Approve or Disapprove a Proposed Rule Change, as Modified by
Amendment No. 1, To Amend Rules 4702(b)(14) and (b)(15) Concerning
Dynamic M-ELO Holding Periods
July 6, 2023.
On December 21, 2022, The Nasdaq Stock Market LLC (``Nasdaq'' 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 replace the static holding period requirements
for Midpoint Extended Life Orders and Midpoint Extended Life Orders
Plus Continuous Book with dynamic holding periods. The proposed rule
change was published for comment in the Federal Register on January 10,
2023.\3\ On February 22, 2023, 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 disapprove the
proposed rule change.\5\ On March 9, 2023, the Exchange filed Amendment
No.1 to the proposed rule change, which amended and superseded the
proposed rule change as originally filed. On April 7, 2023, the
Commission provided notice of filing of Amendment No. 1 and instituted
proceedings to determine whether to approve or disapprove the proposed
rule change, as modified by Amendment No. 1.\6\ The Commission received
comments on the proposed rule change.\7\
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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. 92844 (January 4,
2023), 88 FR 1438.
\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 96963, 88 FR 12710
(February 28, 2023).
\6\ See Securities Exchange Act Release No. 97263, 88 FR 22498
(April 13, 2023).
\7\ All comments received by the Commission on the proposed rule
change are available on the Commission's website at: <a href="https://www.sec.gov/comments/sr-nasdaq-2022-079/srnasdaq2022079.htm">https://www.sec.gov/comments/sr-nasdaq-2022-079/srnasdaq2022079.htm</a>.
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Section 19(b)(2) of the Act \8\ provides that, after initiating
proceedings, the Commission shall issue an order approving or
disapproving the proposed
[[Page 44424]]
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 January 10, 2023.\9\
July 9, 2023, is 180 days from that date, and September 7, 2023, is 240
days from that date.
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\8\ 15 U.S.C. 78s(b)(2).
\9\ See Notice, supra note 3.
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The Commission finds it appropriate to designate a longer period
within which to issue an order approving or disapproving the proposed
rule change, as modified by Amendment No. 1, so that it has sufficient
time to consider the proposed rule change, the issues raised in the
comment letters that have been submitted in connection therewith, and
the Exchange's response to comments. Accordingly, the Commission,
pursuant to Section 19(b)(2) of the Act,\10\ designates September 7,
2023, as the date by which the Commission should either approve or
disapprove the proposed rule change, as modified by Amendment No. 1
(File No. SR-NASDAQ-2022-079).
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\10\ 15 U.S.C. 78s(b)(2).
\11\ 17 CFR 200.30-3(a)(57).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-14667 Filed 7-11-23; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on July 12, 2023.
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