Notice2024-23060
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove Proposed Rule Change To Increase Fees for Certain Market Data and Connectivity Products and To Maintain the Current Fees for Such Products if Members Meet a Minimum Average Daily Displayed Volume Threshold
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
October 7, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 194 (Monday, October 7, 2024)</title>
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[Federal Register Volume 89, Number 194 (Monday, October 7, 2024)]
[Notices]
[Pages 81129-81130]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-23060]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-101224; File No. SR-NASDAQ-2024-016]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Designation of Longer Period for Commission Action on
Proceedings To Determine Whether To Approve or Disapprove Proposed Rule
Change To Increase Fees for Certain Market Data and Connectivity
Products and To Maintain the Current Fees for Such Products if Members
Meet a Minimum Average Daily Displayed Volume Threshold
October 1, 2024.
On March 22, 2024, 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 (File Number SR-NASDAQ-2024-016) to increase fees
for certain market data and connectivity products and to maintain the
current fees for such products if members meet a minimum average daily
displayed volume threshold (``Proposal''). The proposed rule change was
immediately effective upon filing with the Commission pursuant to
Section 19(b)(3)(A) of the
[[Page 81130]]
Act.\3\ The proposed rule change was published for comment in the
Federal Register on April 5, 2024.\4\ On May 21, 2024, the Commission
issued an order temporarily suspending the proposed rule change
pursuant to Section 19(b)(3)(C) of the Act \5\ and simultaneously
instituting proceedings under Section 19(b)(2)(B) of the Act \6\ to
determine whether to approve or disapprove the proposed rule change.\7\
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A). A proposed rule change may take
effect upon filing with the Commission if it is designated by the
exchange as ``establishing or changing a due, fee, or other charge
imposed by the self-regulatory organization on any person, whether
or not the person is a member of the self-regulatory organization.''
15 U.S.C. 78s(b)(3)(A)(ii).
\4\ See Securities Exchange Act Release No. 99879 (April 1,
2024), 89 FR 24070 (``Notice'').
\5\ 15 U.S.C. 78s(b)(3)(C).
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 100188, 89 FR 46243
(May 28, 2024) (``Order Instituting Proceedings''). The Commission
has received three comment letters on the proposed rule change, as
well as a response from the Exchange to the Order Instituting
Proceedings. Comments received on the Proposal are available at:
<a href="https://www.sec.gov/comments/sr-nasdaq-2024-016/srnasdaq2024016.htm">https://www.sec.gov/comments/sr-nasdaq-2024-016/srnasdaq2024016.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 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
April 5, 2024.\9\ October 2, 2024 is 180 days from that date, and
December 1, 2024 is 240 days from that date.
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\8\ 15 U.S.C. 78s(b)(2).
\9\ See Notice, supra note 4.
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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 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,\10\ designates December 1, 2024 as the
date by which the Commission shall either approve or disapprove the
proposed rule change (File No. SR-NASDAQ-2024-016).
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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\
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-23060 Filed 10-4-24; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on October 7, 2024.
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