Document ID: SEC-2022-0729-0001
Agency: sec
Document Type: Notice
Title: Joint Industry Plan: Collection, Consolidation and Dissemination of Quotation and Transaction Information for Nasdaq-Listed Securities Traded on Exchanges on an Unlisted Trading Privileges Basis
Posted Date: 2022-05-25T04:00Z

[Federal Register Volume 87, Number 101 (Wednesday, May 25, 2022)]
[Notices]
[Page 31921]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-11202]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94953; File No. S7-24-89]

Joint Industry Plan; Notice of Designation of a Longer Period for 
Commission Action on the Fifty-Second Amendment to the Joint Self-
Regulatory Organization Plan Governing the Collection, Consolidation 
and Dissemination of Quotation and Transaction Information for Nasdaq-
Listed Securities Traded on Exchanges on an Unlisted Trading Privileges 
Basis

May 19, 2022.
    On November 5, 2021,\1\ certain participants in the Joint Self-
Regulatory Organization Plan Governing the Collection, Consolidation 
and Dissemination of Quotation and Transaction Information for Nasdaq-
Listed Securities Traded on Exchanges on an Unlisted Trading Privileges 
Basis (``Nasdaq/UTP Plan'' or ``Plan'') \2\ filed with the Securities 
and Exchange Commission (``SEC'' or ``Commission''), pursuant to 
Section 11A of the Securities Exchange Act of 1934 (``Act'') \3\ and 
Rule 608 of Regulation National Market System (``NMS'') thereunder,\4\ 
a proposal (``Proposed Amendment'') to amend the Nasdaq/UTP Plan.\5\ 
The Proposed Amendment was published for comment in the Federal 
Register on November 26, 2021.\6\
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    \1\ See Letter from Robert Books, Chair, UTP Operating 
Committee, to Vanessa Countryman, Secretary, Commission (Nov. 5, 
2021).
    \2\ The Plan governs the collection, processing, and 
dissemination on a consolidated basis of quotation information and 
transaction reports in Eligible Securities for its Participants. The 
Plan serves as the required transaction reporting plan for its 
Participants, which is a prerequisite for their trading Eligible 
Securities. See Securities Exchange Act Release No. 55647 (Apr. 19, 
2007), 72 FR 20891 (Apr. 26, 2007).
    \3\ 15 U.S.C 78k-1.
    \4\ 17 CFR 242.608.
    \5\ The Proposed Amendment was approved and executed by more 
than the Plan's required two-thirds of the self-regulatory 
organizations (``SROs'') that are participants of the UTP Plan. The 
participants that approved and executed the amendment (the 
``Participants'') are: Cboe BYX Exchange, Inc., Cboe BZX Exchange, 
Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Cboe 
Exchange, Inc., Nasdaq ISE, LLC, Nasdaq PHLX, Inc., The Nasdaq Stock 
Market LLC, New York Stock Exchange LLC, NYSE American LLC, NYSE 
Arca, Inc., NYSE Chicago, Inc., and NYSE National, Inc.. The other 
SROs that are participants in the UTP Plan are: Financial Industry 
Regulatory Authority, Inc., The Investors' Exchange LLC, Long-Term 
Stock Exchange, Inc., MEMX LLC, MIAX PEARL, LLC, and Nasdaq BX, Inc.
    \6\ See Securities Exchange Act Release No. 93618 (Nov. 19, 
2021), 86 FR 67562 (Nov. 26, 2021) (``Notice''). Comments received 
in response to the Notice are available at https://www.sec.gov/comments/s7-24-89/s72489.shtml.
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    On February 24, 2022, the Commission instituted proceedings 
pursuant to Rule 608(b)(2)(i) of Regulation NMS,\7\ to determine 
whether to approve or disapprove the Proposed Amendment or to approve 
the Proposed Amendment with any changes or subject to any conditions 
the Commission deems necessary or appropriate after considering public 
comment.\8\ Rule 608(b)(2)(i) of Regulation NMS provides that such 
proceedings shall be concluded within 180 days of the date of the 
publication of notice of the plan or amendment and that the time for 
conclusion of such proceedings may be extended for up to 60 days (up to 
240 days from the date of notice publication) if the Commission 
determines that a longer period is appropriate and publishes the 
reasons for such determination or the plan participants consent to a 
longer period.\9\ The 180th day after publication of the Notice for the 
Proposed Amendment is May 25, 2022. The Commission is extending this 
180-day period.
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    \7\ 17 CFR 242.608(b)(2)(i).
    \8\ See Securities Exchange Act Release No. 94307 (Feb. 24, 
2022), 87 FR 11787 (Mar. 2, 2022) (``OIP''). Comments received in 
response to the OIP can be found on the Commission's website at 
https://www.sec.gov/comments/s7-24-89/s72489.htm.
    \9\ 17 CFR 242.608(b)(2)(i).
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    The Commission finds that it is appropriate to designate a longer 
period within which to conclude proceedings regarding the Proposed 
Amendment so that it has sufficient time to consider the Proposed 
Amendment and the comments received. Accordingly, pursuant to Rule 
608(b)(2)(i) of Regulation NMS,\10\ the Commission designates July 24, 
2022, as the date by which the Commission shall conclude the 
proceedings to determine whether to approve or disapprove the Proposed 
Amendment or to approve the Proposed Amendment with any changes or 
subject to any conditions the Commission deems necessary or appropriate 
(File No. S7-24-89).
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    \10\ Id.
    \11\ 17 CFR 200.30-3(a)(85).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-11202 Filed 5-24-22; 8:45 am]
BILLING CODE 8011-01-P