Document ID: SEC-2019-0140-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: New York Stock Exchange LLC
Posted Date: 2019-02-15T05:00Z

[Federal Register Volume 84, Number 32 (Friday, February 15, 2019)]
[Notices]
[Pages 4553-4554]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-02392]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-85096; File No. SR-NYSE-2018-34]

Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Change To Amend NYSE Rule 104 Governing Transactions by Designated 
Market Makers

February 11, 2019.
    On July 31, 2018, New York Stock Exchange LLC (``NYSE'') 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 NYSE Rule 
104 governing transactions by Designated Market Makers (``DMMs''). The 
proposed rule change was published for comment in the Federal Register 
on August 16, 2018.\3\ On September 24, 2018, pursuant to Section 
19(b)(2) of the Act,\4\ the Commission extended to November 14, 2018 
the time period in which to approve, disapprove, or institute 
proceedings to determine whether to approve or disapprove, the proposed 
rule change.\5\ On November 1, 2018, the Commission issued an order 
instituting proceedings, pursuant to Section 19(b)(2)(B) of the Act,\6\ 
to determine whether to approve or disapprove the proposed rule 
change.\7\ The Commission has received one comment letter on the 
proposal.\8\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 83821 (Aug. 10, 
2018), 83 FR 40808 (Aug. 16, 2018).
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 84276 (Sep. 24, 
2018), 83 FR 49143 (Sep. 28, 2018).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 84515, (Nov. 1, 
2018), 83 FR 55763 (Nov. 7, 2018).
    \8\ See Letter from Stephen John Berger, Managing Director, 
Government and Regulatory Policy, Citadel Securities, to Assistant 
Secretary, Commission, dated Nov. 28, 2018.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \9\ 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 August 16, 2018. February 12, 2019 is 180 days from 
that date, and April 13, 2019 is 240 days from that date.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    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,\10\ designates April

[[Page 4554]]

13, 2019, as the date by which the Commission shall either approve or 
disapprove the proposed rule change (File No. SR-NYSE-2018-34).
---------------------------------------------------------------------------

    \10\ Id.
    \11\ 17 CFR 200.30-3(a)(57).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-02392 Filed 2-14-19; 8:45 am]
BILLING CODE 8011-01-P