Document ID: SEC-2014-1813-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NASDAQ Stock Market LLC
Posted Date: 2014-10-29T04:00Z

[Federal Register Volume 79, Number 209 (Wednesday, October 29, 2014)]
[Notices]
[Page 64444]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-25672]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-73416; File No. SR-NASDAQ-2014-034]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change Relating to Proposed Changes To Remove From the 
Exchange Rules Fee Provisions Regarding Re-Transmission of ``Third-
Party Data''

October 23, 2014.
    On April 7, 2014, The NASDAQ Stock Market LLC (``Nasdaq'' or the 
``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 to remove, from the Exchange rules, fee provisions 
with respect to third-party data feeds that Nasdaq receives from 
multiple sources and then re-transmits to clients in connection with 
the Exchange's co-location services. The proposed rule change was 
published for comment in the Federal Register on April 28, 2014.\3\ On 
June 5, 2014, the Commission extended the time to act on the proposal 
until July 25, 2014.\4\ On July 22, 2014, the Commission instituted 
proceedings to determine whether to disapprove the proposed rule change 
in an order published in the Federal Register.\5\ The Commission 
received no comment letters on the proposed rule change.
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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. 71990 (April 22, 
2014), 79 FR 23389 (``Notice'').
    \4\ See Securities Exchange Act Release No. 72328, 79 FR 33605 
(June 11, 2014).
    \5\ See Securities Exchange Act Release No. 72654, 79 FR 43808 
(July 28, 2014) (``Order Instituting Proceedings'').
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    Section 19(b)(2) of the Act \6\ provides that, after initiating 
disapproval 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 the 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 28, 2014. October 25, 2014 is 180 days from 
that date, and December 24, 2014 is an additional 60 days from that 
date.
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    \6\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is 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 issues raised in connection with 
the proposed rule change. Specifically, as the Commission noted in the 
Order Instituting Proceedings, the proposed rule change raises issues 
such as whether the proposed rule change is consistent with the 
statutory definition of the term ``facility'' and the statutory 
requirements applicable to national securities exchanges.\7\
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    \7\ See Order Instituting Proceedings, supra note 5.
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    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\8\ designates December 24, 2014, as the date by which the 
Commission should either approve or disapprove the proposed rule 
change.
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    \8\ 15 U.S.C. 78s(b)(2).
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    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(31).

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-25672 Filed 10-28-14; 8:45 am]
BILLING CODE 8011-01-P