Document ID: SEC-2016-0730-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Nasdaq Stock Market LLC
Posted Date: 2016-04-27T04:00Z

[Federal Register Volume 81, Number 81 (Wednesday, April 27, 2016)]
[Notices]
[Page 24909]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-09721]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77678; File No. SR-NASDAQ-2016-035]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change To Establish a Secondary Contingency Procedure To 
Enable the Exchange To Report an Official Closing Price on Behalf of an 
Impaired Primary Listing Exchange

April 21, 2016.
    On March 2, 2016, The Nasdaq Stock Market LLC (``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 establish a 
Secondary Contingency Procedure for its closing cross. The proposed 
rule change was published for comment in the Federal Register on March 
11, 2016.\3\ The Commission has received one comment letter on the 
proposal.\4\
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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. 77309 (March 7, 
2016), 81 FR 13007.
    \4\ See Letter from Theodore R. Lazo, Managing Director and 
Associate General Counsel, Securities Industry and Financial Markets 
Association, to Brent J. Fields, Secretary, Commission, dated April 
5, 2016.
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    Section 19(b)(2) of the Act \5\ 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 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 for this filing is April 25, 2016.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. 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 
proposed rule change.
    Accordingly, pursuant to Section 19(b)(2) of the Act \6\ and for 
the reasons stated above, the Commission designates June 9, 2016, as 
the date by which the Commission should either approve or disapprove, 
or institute proceedings to determine whether to disapprove, the 
proposed rule change (File No. SR-NASDAQ-2016-035).
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    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-09721 Filed 4-26-16; 8:45 am]
BILLING CODE 8011-01-P