Document ID: SEC-2019-1112-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Nasdaq Stock Market, LLC
Posted Date: 2019-08-05T04:00Z

[Federal Register Volume 84, Number 150 (Monday, August 5, 2019)]
[Notices]
[Page 38078]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-16613]

=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86512; File No. SR-NASDAQ-2019-048]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change, as Modified by Amendment No. 1, To Amend Rule 
4702 To Establish the ``Midpoint Extended Life Order + Continuous 
Book'' as a New Order Type

July 30, 2019.
    On May 29, 2019, 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 
the Midpoint Extended Life Order + Continuous Book (``M-ELO+CB'') as a 
new order type. The proposed rule change was published for comment in 
the Federal Register on June 17, 2019.\3\ On July 1, 2019, the Exchange 
filed Amendment No. 1 to the proposed rule change, which amended and 
superseded the proposed rule change as originally filed.\4\ The 
Commission has received no comments on the proposal.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 86083 (June 11, 
2019), 84 FR 28107.
    \4\ In Amendment No. 1, the Exchange revised the proposal to: 
(1) Provide additional detail to the description of and statutory 
basis for the proposed rule change; (2) explain in greater detail 
the order entry protocols available for M-ELO+CB; (3) specify that 
any punitive fees or participant requirements determined to be 
necessary by the Exchange for M-ELO+CB usage would be implemented 
pursuant to a future proposed rule change; and (4) make technical, 
clarifying, and conforming changes. Amendment No. 1 is available at 
https://www.sec.gov/comments/sr-nasdaq-2019-048/srnasdaq2019048-5749583-186789.pdf.
---------------------------------------------------------------------------

    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 August 1, 2019.
---------------------------------------------------------------------------

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

    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\ the 
Commission designates September 15, 2019, 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-NASDAQ-2019-048), as modified by Amendment No. 1.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2).

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

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

Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-16613 Filed 8-2-19; 8:45 am]
 BILLING CODE 8011-01-P