Notice2025-03886
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Introduce Functionality To Initiate a Trading Halt for Exchange-Traded Products on Launch Day
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
March 12, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 47 (Wednesday, March 12, 2025)</title>
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[Federal Register Volume 90, Number 47 (Wednesday, March 12, 2025)]
[Notices]
[Pages 11866-11867]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-03886]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102537; File No. SR-NASDAQ-2025-011]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Designation of a Longer Period for Commission Action on a
Proposed Rule Change To Introduce Functionality To Initiate a Trading
Halt for Exchange-Traded Products on Launch Day
March 6, 2025.
On January 31, 2025, The Nasdaq Stock Market LLC (``Nasdaq'') 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 introduce
an optional functionality for Exchange-Traded Products to initiate a
trading halt on the launch day of an Exchange-Traded Product, similar
to the halt used in initial public offerings. The proposed rule change
was published for comment in the Federal Register on February 20,
2025.\3\
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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. 102413 (February 13,
2025), 90 FR 10001 (February 20, 2025).
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Section 19(b)(2) of the Act \4\ provides that within 45 days of the
publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period
[[Page 11867]]
to be appropriate and publishes its reasons for so finding or as to
which the self-regulatory organization consents, the Commission shall
either approve the proposed rule change, disapprove the proposed rule
change, or institute proceedings to determine whether the proposed rule
change should be disapproved. The 45th day after publication of the
notice for this proposed rule change is April 6, 2025. The Commission
is extending this 45-day time period.
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\4\ 15 U.S.C. 78s(b)(2).
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The Commission finds it appropriate to designate a longer period
within which to take action on the proposed rule change so that it has
sufficient time to consider the proposed rule change. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates May
21, 2025, as the date by which the Commission shall either approve or
disapprove, or institute proceedings to determine whether to
disapprove, the proposed rule change (File No. SR-NASDAQ-2025-011).
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\5\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
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\6\ 17 CFR 200.30-3(a)(31).
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Vanessa A. Countryman,
Secretary.
[FR Doc. 2025-03886 Filed 3-11-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on March 12, 2025.
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