[Federal Register Volume 89, Number 194 (Monday, October 7, 2024)]
[Notices]
[Pages 81129-81130]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[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: 
https://www.sec.gov/comments/sr-nasdaq-2024-016/srnasdaq2024016.htm.
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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