Document ID: SEC-2022-1010-0001
Agency: sec
Document Type: Notice
Title: Joint Industry Plan: Collection, Consolidation and Dissemination of Quotation and Transaction Information for Nasdaq-Listed Securities Traded on Exchanges on an Unlisted Trading Privileges Basis
Posted Date: 2022-07-27T04:00Z

[Federal Register Volume 87, Number 143 (Wednesday, July 27, 2022)]
[Notices]
[Page 45137]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-16038]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-95348; File No. S7-24-89]

Joint Industry Plan; Notice of Designation of a Longer Period for 
Commission Action on the Fifty-Second Amendment to the Joint Self-
Regulatory Organization Plan Governing the Collection, Consolidation 
and Dissemination of Quotation and Transaction Information for Nasdaq-
Listed Securities Traded on Exchanges on an Unlisted Trading Privileges 
Basis

    On November 5, 2021,\1\ certain participants in the Joint Self-
Regulatory Organization Plan Governing the Collection, Consolidation 
and Dissemination of Quotation and Transaction Information for Nasdaq-
Listed Securities Traded on Exchanges on an Unlisted Trading Privileges 
Basis (``Nasdaq/UTP Plan'' or ``Plan'') \2\ filed with the Securities 
and Exchange Commission (``SEC'' or ``Commission''), pursuant to 
Section 11A of the Securities Exchange Act of 1934 (``Act'') \3\ and 
Rule 608 of Regulation National Market System (``NMS'') thereunder,\4\ 
a proposal (``Proposed Amendment'') to amend the Nasdaq/UTP Plan.\5\ 
The Proposed Amendment was published for comment in the Federal 
Register on November 26, 2021.\6\
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    \1\ See Letter from Robert Books, Chair, Nasdaq/UTP Plan 
Operating Committee, to Vanessa Countryman, Secretary, Commission 
(Nov. 5, 2021).
    \2\ The Plan governs the collection, processing, and 
dissemination on a consolidated basis of quotation information and 
transaction reports in Eligible Securities for its Participants. The 
Plan serves as the required transaction reporting plan for its 
Participants, which is a prerequisite for their trading Eligible 
Securities. See Securities Exchange Act Release No. 55647 (Apr. 19, 
2007), 72 FR 20891 (Apr. 26, 2007).
    \3\ 15 U.S.C. 78k-1.
    \4\ 17 CFR 242.608.
    \5\ The Proposed Amendment was approved and executed by more 
than the required two-thirds of the self-regulatory organizations 
(``SROs'') that are participants of the Plan. The participants that 
approved and executed the amendment (the ``Participants'') are: Cboe 
BYX Exchange, Inc, Cboe BZX Exchange, Inc., Cboe EDGA Exchange, 
Inc., Cboe EDGX Exchange, Inc., Cboe Exchange, Inc., Nasdaq ISE, 
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. The other SROs that are participants 
in the UTP Plan are: Financial Industry Regulatory Authority, Inc., 
Investors Exchange LLC, Long-Term Stock Exchange, Inc., MEMX LLC, 
MIAX PEARL, LLC, and Nasdaq BX, Inc.
    \6\ See Securities Exchange Act Release No. 93618 (Nov. 19, 
2021), 86 FR 67562 (Nov. 26, 2021) (``Notice''). Comments received 
in response to the Proposed Amendment are available at https://www.sec.gov/comments/s7-24-89/s72489.htm.
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    On February 24, 2022, the Commission instituted proceedings 
pursuant to Rule 608(b)(2)(i) of Regulation NMS,\7\ to determine 
whether to approve or disapprove the Proposed Amendment or to approve 
the Proposed Amendment with any changes or subject to any conditions 
the Commission deems necessary or appropriate after considering public 
comment.\8\ On May 19, 2022, pursuant to Rule 608(b)(2)(i) of 
Regulation NMS,\9\ the Commission extended the period within which to 
conclude proceedings regarding the Proposed Amendment to 240 days from 
the date of publication of the Notice.\10\
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    \7\ 17 CFR 242.608(b)(2)(i).
    \8\ See Securities Exchange Act Release No. 94307 (Feb. 24, 
2022), 87 FR 11787 (Mar. 2, 2022).
    \9\ See 17 CFR 242.608(b)(2)(i).
    \10\ See Securities Exchange Act Release No. 94953 (May 19, 
2022), 87 FR 31921 (May 25, 2022).
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    Rule 608(b)(2)(ii) of Regulation NMS provides that the time for 
conclusion of proceedings to determine whether a national market system 
plan or proposed amendment should be disapproved may be extended for an 
additional period up to 60 days (up to 300 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 the longer period.\11\ The 240th day after 
publication of the Notice for the Proposed Amendment is July 24, 2022. 
The Commission is extending this 240-day period.
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    \11\ See 17 CFR 242.608(b)(2)(ii).
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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 comments received. Accordingly, pursuant to Rule 
608(b)(2)(ii) of Regulation NMS,\12\ the Commission designates 
September 22, 2022, as the date by which the Commission shall conclude 
the proceedings to determine whether to approve or disapprove the 
Proposed Amendment or to approve the Proposed Amendment with any 
changes or subject to any conditions the Commission deems necessary or 
appropriate (File No. S7-24-89).
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    \12\ Id.

    By the Commission.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-16038 Filed 7-26-22; 8:45 am]
BILLING CODE 8011-01-P