Document ID: SEC-2021-0551-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Nasdaq Stock Market, LLC
Posted Date: 2021-04-21T04:00Z

[Federal Register Volume 86, Number 75 (Wednesday, April 21, 2021)]
[Notices]
[Page 20759]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-08197]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91581; File No. SR-NASDAQ-2021-009]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change, as Modified by Amendment No. 1, To Amend Equity 
4, Rule 4754 Relating to the Limit-Up Limit-Down Closing Cross

April 15, 2021.
    On February 11, 2021, 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 
amend Equity 4, Rule 4754 relating to the Limit-Up Limit-Down 
(``LULD'') closing cross. The proposed rule change was published for 
comment in the Federal Register on March 3, 2021.\3\ The Commission has 
not received any comment letters on the proposed rule change. On April 
9, 2021, the Exchange filed Amendment No. 1 to the proposed rule 
change, which amended and superseded the proposed rule change as 
originally filed.\4\
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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. 91208 (February 25, 
2021), 86 FR 12503.
    \4\ In Amendment No. 1, the Exchange amended the proposal to: 
(1) Specify the dissemination of certain imbalance information 
before the LULD closing cross; (2) clarify the process for 
calculating the LULD closing cross price and the benchmark prices 
for the LULD closing cross; (3) specify the treatment of imbalance 
only orders for purposes of the LULD closing cross price selection; 
(4) provide additional explanation to support the proposal; (5) 
specify the implementation date for the proposal; and (6) make other 
clarifying, technical, and conforming changes. Amendment No. 1 is 
available on the Commission's website at: https://www.sec.gov/comments/sr-nasdaq-2021-009/srnasdaq2021009-8670132-235426.pdf.
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    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 after publication of the notice for this proposed rule change 
is April 17, 2021.
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    \5\ 15 U.S.C. 78s(b)(2).
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    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, as modified by Amendment No. 1. Accordingly, 
pursuant to Section 19(b)(2) of the Act,\6\ the Commission designates 
June 1, 2021, as the date by which the Commission shall either approve 
or disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change, as modified by Amendment No. 1 
(File No. SR-NASDAQ-2021-009).
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    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-08197 Filed 4-20-21; 8:45 am]
BILLING CODE 8011-01-P