Notice2025-02750
Joint Industry Plan; Plan; Notice of Designation of a Longer Period for Commission Action on a Proposed Amendment to the National Market System Plan Governing the Consolidated Audit Trail
Primary source
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Published
February 19, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 32 (Wednesday, February 19, 2025)</title>
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[Federal Register Volume 90, Number 32 (Wednesday, February 19, 2025)]
[Notices]
[Page 9941]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-02750]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102404; File No. 4-698]
Joint Industry Plan; Plan; Notice of Designation of a Longer
Period for Commission Action on a Proposed Amendment to the National
Market System Plan Governing the Consolidated Audit Trail
February 12, 2025
I. Introduction
On August 2, 2024, the Operating Committee for Consolidated Audit
Trail, LLC (``CAT LLC''), on behalf of the following parties to the
National Market System Plan Governing the Consolidated Audit Trail (the
``CAT NMS Plan'' or ``Plan''): \1\ BOX Exchange LLC; Cboe BYX Exchange,
Inc., Cboe BZX Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX
Exchange, Inc., Cboe C2 Exchange, Inc., Cboe Exchange, Inc., Financial
Industry Regulatory Authority, Inc., Investors Exchange LLC, Long-Term
Stock Exchange, Inc., MEMX, LLC, Miami International Securities
Exchange LLC, MIAX Emerald, LLC, MIAX PEARL, LLC, Nasdaq BX, Inc.,
Nasdaq GEMX, LLC, Nasdaq ISE, LLC, Nasdaq MRX, LLC, Nasdaq PHLX LLC,
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,'' ``self-regulatory organizations,''
or ``SROs'') filed with the Securities and Exchange Commission (``SEC''
or ``Commission'') pursuant to section 11A(a)(3) of the Securities
Exchange Act of 1934 (``Exchange Act''),\2\ and Rule 608 thereunder,\3\
a proposed amendment (``Proposed Amendment'') to the CAT NMS Plan to
amend existing requirements for the consolidated audit trail (``CAT'')
regarding the reporting of certain verbal activity, floor and upstairs
activity (the ``Verbal Quotes Amendment''). The proposed plan amendment
was published for comment in the Federal Register on August 20,
2024.\4\
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\1\ The CAT NMS Plan is a national market system plan approved
by the Commission pursuant to section 11A of the Exchange Act and
the rules and regulations thereunder. See Securities Exchange Act
Release No. 79318 (November 15, 2016), 81 FR 84696 (November 23,
2016).
\2\ 15 U.S.C. 78k-1(a)(3).
\3\ 17 CFR 242.608.
\4\ See Notice of Filing of Amendment to the National Market
System Plan Governing the Consolidated Audit Trail, Release No.
100727 (August 14, 2024), 89 FR 67499 (``Notice''). Comments
received in response to the Notice can be found on the Commission's
website at <a href="https://www.sec.gov/comments/4-698/4-698-e.htm">https://www.sec.gov/comments/4-698/4-698-e.htm</a>.
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On November 18, 2024, the Commission instituted proceedings to
determine whether to approve or disapprove the Proposed Amendment.\5\
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.\6\
The 180th day after publication of the Notice for the Proposed
Amendment is February 16, 2025. The Commission is extending this 180-
day period.
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\5\ See Exchange Act Release No. 101648 (November 18, 2024), 89
FR 92726 (November 22, 2024).
\6\ 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
Amendment so that it has sufficient time to consider the Proposed
Amendment and the comments received. Accordingly, pursuant to Rule
608(b)(2)(i) of Regulation NMS,\7\ the Commission designates April 17,
2025, as the date by which the Commission shall conclude the
proceedings to determine whether to approve or disapprove the Proposed
Amendment (File No. 4-698).
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\7\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(85).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-02750 Filed 2-18-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on February 19, 2025.
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