Document ID: SEC-2013-0831-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The NASDAQ Stock Market LLC
Posted Date: 2013-05-01T04:00Z

[Federal Register Volume 78, Number 84 (Wednesday, May 1, 2013)]
[Notices]
[Pages 25501-25502]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-10237]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69450; File No. SR-NASDAQ-2013-031]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Change To Amend the Attestation Requirement of Rule 4780 
To Allow a Retail Member Organization To Attest That ``Substantially 
All'' Orders Submitted to the Retail Price Improvement Program Will 
Qualify as ``Retail Orders''

April 25, 2013.
    On February 19, 2013, The NASDAQ Stock Market LLC (``NASDAQ'' 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 allow Retail Member Organizations (``RMOs'') to 
attest that ``substantially all,'' rather than all, orders submitted to 
the Retail Price Improvement Program qualify as ``Retail Orders.'' The 
proposed rule changes were published for comment in the Federal 
Register on March 11, 2013.\3\ To date, the Commission has received one 
comment on the proposal.\4\ The Exchange submitted a response to the 
comment on April 24, 2013.\5\
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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. 69039 (March 5, 
2013), 78 FR 15392.
    \4\ See Letter to the Commission from Theodore R. Lazo, Managing 
Director and Associate General Counsel, Securities Industry and 
Financial Markets Association (SIFMA), dated March 11, 2013.
    \5\ See Letter to the Commission from Jonathan F. Cayne, 
Associate General Counsel, NASDAQ OMX, dated April 24, 2013.
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    Section 19(b)(2) of the Act \6\ 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

[[Page 25502]]

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 April 25, 2013.
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    \6\ 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 to take action on the proposed 
rule change so that it has sufficient time to consider the Exchange's 
proposal, which would lessen the attestation requirements of RMOs that 
submit ``Retail Orders'' eligible to receive potential price 
improvement through the Retail Price Improvement Program, and to 
consider the comment letter that has been submitted in connection with 
the proposed rule change, along with the Exchange's response.
    Accordingly, pursuant to Section 19(b)(2) of the Act,\7\ the 
Commission designates June 9, 2013 as the date by which the Commission 
should either approve or disapprove, or institute proceedings to 
determine whether to disapprove, the proposed rule change (File Number 
SR-NASDAQ-2013-031).
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    \7\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-10237 Filed 4-30-13; 8:45 am]
BILLING CODE 8011-01-P