Document ID: SEC-2021-0773-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: New York Stock Exchange, LLC
Posted Date: 2021-05-28T04:00Z

[Federal Register Volume 86, Number 102 (Friday, May 28, 2021)]
[Notices]
[Pages 28921-28922]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-11289]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91975; File No. SR-NYSE-2020-95]

Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Change, as Modified by Amendment No. 1, To Make Permanent 
Commentaries to Rule 7.35A and Commentaries to Rule 7.35B and Make 
Related Changes to Rules 7.32, 7.35C, 46B, and 47

May 24, 2021.
    On November 13, 2020, New York Stock Exchange LLC (``NYSE'' 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 make permanent Commentaries .01(a) and (b) and 
.06 to Rule 7.35A (DMM-Facilitated Core Open and Trading Halt Auctions) 
and Commentaries .01 and .03 to Rule 7.35B (DMM-Facilitated Closing 
Auctions) and to make related changes to Rules 7.32 (Order Entry), 
7.35C (Exchange-Facilitated Closing Auctions), 46B (Regulatory Trading 
Official), and 47 (Floor Officials--Unusual Situations). The proposed 
rule change was published for comment in the Federal Register on 
December 1, 2020.\3\ On January 13, 2020, the Commission extended to 
March 1, 2021, the time period in which to approve the proposal, 
disapprove the proposal, or institute proceedings to determine whether 
to approve or disapprove the proposal.\4\ On March 1, 2021, the 
Commission instituted proceedings under Section 19(b)(2)(B) of the Act 
\5\ to determine whether to approve or disapprove the proposed rule 
change.\6\ On April 12, 2021, the Exchange filed Amendment No. 1 \7\ to 
the proposed rule change with the Commission and submitted Amendment 
No. 1 for inclusion in the public comment file.\8\ The Commission has 
received no other comment letters on the proposed rule change, as 
modified by Amendment No. 1.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 90495 (Nov. 24, 
2020), 85 FR 77304 (Dec. 1, 2020) (SR-NYSE-2020-95) (``Notice'').
    \4\ See Securities Exchange Act Release No. 90917 (Jan. 13, 
2021), 86 FR 6403 (Jan. 21, 2020).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 91227, (Mar. 1, 
2021), 86 FR 12991 (Mar. 5, 2021).
    \7\ In Amendment No. 1, the Exchange proposes that the 
percentage parameter that would be applicable to when a DMM may 
electronically facilitate a Trading Halt Auction or would be 
required to publish a pre-opening indication would be 5% instead of 
10%. See Letter from Martha Redding Associate General Counsel, NYSE 
LLC, to Secretary, Commission (April 12, 2021). Amendment No. 1 is 
available at https://www.sec.gov/comments/sr-nyse-2020-95/srnyse202095-8662901-235314.pdf.
    \8\ Comments received on the proposed rule changes, as modified 
by Amendment No. 1, are available on the Commission's website at 
https://www.sec.gov/comments/sr-nyse-2020-95/srnyse202095.htm.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \9\ provides that, after initiating 
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

[[Page 28922]]

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 December 1, 2020.\10\ May 30, 2021 
is 180 days from that date, and July 29, 2021, is 240 days from that 
date.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2).
    \10\ See Securities Exchange Act Release No. 90495 (Nov. 24, 
2020), 85 FR 77304 (Dec. 1, 2020) (SR-NYSE-2020-95) (``Notice'').
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change, as modified by Amendment No. 1, so that it has sufficient 
time to consider the proposed rule change, as modified by Amendment 
No.1. Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\11\ designates July 29, 2021, as the date by which the Commission 
shall either approve or disapprove the proposed rule change (File No. 
SR-NYSE-2020-95) as modified by Amendment No. 1.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

    \12\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-11289 Filed 5-27-21; 8:45 am]
BILLING CODE 8011-01-P