Document ID: SEC-2023-0327-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Posted Date: 2023-03-21T04:00Z

[Federal Register Volume 88, Number 54 (Tuesday, March 21, 2023)]
[Notices]
[Pages 17071-17072]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-05684]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97145; File No. SR-NYSEARCA-2023-06]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Amend Rule 7.44-E Relating to the Retail Liquidity Program

March 15, 2023.
    On January 10, 2023, NYSE Arca, Inc. (``NYSE Arca'' or the 
``Exchange'') filed with the Securities and Exchange Commission (the 
``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 amend the Exchange's Retail Liquidity Program 
(the ``Program'').\3\ The proposed rule

[[Page 17072]]

change was published for comment in the Federal Register on January 30, 
2023.\4\ The Commission has received no comments on the proposed rule 
change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C.78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ The Program was established on a pilot basis in 2013 and was 
approved by the Commission to operate on a permanent basis in 2019. 
See Securities Exchange Act Release No. 87350 (October 18, 2019), 84 
FR 57106 (October 24, 2019) (SR-NYSEArca-2019-63). In connection 
with the Commission's approval of the Program on a pilot basis, the 
Commission granted the Exchange's request for exemptive relief from 
Rule 612 of Regulation NMS, 17 CFR 242.612, which, among other 
things, prohibits a national securities exchange from accepting or 
ranking orders priced greater than $1.00 per share in an increment 
smaller than $0.01. See Securities Exchange Act Release No. 71176 
(December 23, 2013), 78 FR 79524 (December 30, 2013) (SR-NYSEArca-
2013-107).
    \4\ See Securities Exchange Act Release No. 96741 (Jan. 24, 
2023), 88 FR 5948.
---------------------------------------------------------------------------

    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 after publication of the notice for this proposed rule change 
is March 16, 2023. The Commission is extending this 45-day time period.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    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,\6\ designates 
April 28, 2023 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-NYSEARCA-2023-06).
---------------------------------------------------------------------------

    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-05684 Filed 3-20-23; 8:45 am]
BILLING CODE 8011-01-P