Document ID: SEC-2020-0088-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Nasdaq Stock Market, LLC
Posted Date: 2020-01-23T05:00Z

[Federal Register Volume 85, Number 15 (Thursday, January 23, 2020)]
[Notices]
[Pages 4006-4007]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-01039]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-87995; File No. SR-NASDAQ-2019-057]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of Longer Period for Commission Action on a 
Proposed Rule Change To Amend Rule 4121

January 16, 2020.
    On July 16, 2019, 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 to amend Nasdaq Rule 4121 (``Trading Halts Due to 
Extraordinary Market Volatility'') to enhance the re-opening auction 
process for Nasdaq-listed securities following trading halts due to 
extraordinary market volatility. The proposed rule change was published 
for comment in the Federal Register on July 25, 2019.\3\ On September 
5, 2019, the Commission extended the time period within which to either 
approve the proposed rule change, disapprove the proposed rule change, 
or institute proceedings to determine whether to approve or disapprove 
the proposed rule change, to October 23, 2019.\4\ On October 23, 2019, 
the Commission instituted proceedings pursuant to Section 19(b)(2)(B) 
of the Act \5\ to determine whether to approve or disapprove the 
proposed rule change.\6\ 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. 86412 (July 19, 
2019), 84 FR 35900.
    \4\ See Securities Exchange Act Release No. 86875, 84 FR 47998 
(September 11, 2019).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 87391, 84 FR 57929 
(October 29, 2019).
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    Section 19(b)(2) of the Act \7\ 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 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 July 25, 2019. January 21, 2020 is 180 days from 
that date, and March 21, 2020 is 240 days from that date.
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    \7\ 15 U.S.C. 78s(b)(2).
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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. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\8\ designates March 20, 2020 as the date by which the 
Commission shall either approve or

[[Page 4007]]

disapprove the proposed rule change (File No. SR-Nasdaq-2019-057).\9\
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    \8\ Id.
    \9\ The 240th day from publication in the Federal Register is 
March 21, 2020, which is a Saturday. Therefore, the date by which 
the Commission must take action is designated to be March 20, 2020.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(57).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-01039 Filed 1-22-20; 8:45 am]
BILLING CODE 8011-01-P