Document ID: SEC-2015-0662-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE MKT, LLC
Posted Date: 2015-04-16T04:00Z

[Federal Register Volume 80, Number 73 (Thursday, April 16, 2015)]
[Notices]
[Page 20515]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-08698]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74704; File No. SR-NYSEMKT-2014-86]

Self-Regulatory Organizations; NYSE MKT LLC.; Notice of 
Designation of Longer Period for Commission Action on Proceedings to 
Determine Whether to Approve or Disapprove Proposed Rule Change to 
Remove the Exchange's Quote Mitigation Plan as Provided by Exchange 
Rule 970.1NY

April 10, 2015.

I. Introduction

    On October 2, 2014, NYSE MKT LLC (``NYSE MKT'' 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 
remove the Exchange's quote mitigation plan as provided by NYSE MKT 
Rule 970.1NY. The proposed rule change was published for comment in the 
Federal Register on October 21, 2014.\3\ On December 2, 2014, the 
Commission extended the time period in which to either approve the 
proposal, disapprove the proposal, or to institute proceedings to 
determine whether to approve or disapprove the proposal, to January 19, 
2015.\4\ On January 16, 2015, the Commission instituted proceedings to 
determine whether to approve or disapprove the proposal.\5\ The 
Commission received 2 comment letters in further support of the 
proposal from NYSE MKT.\6\
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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. 73367 (October 15, 
2014), 79 FR 63009 (``Notice'').
    \4\ See Securities Exchange Act Release No. 73718 (December 2, 
2014), 79 FR 72748 (December 8, 2014).
    \5\ See Securities Exchange Act Release No. 74087 (January 16, 
2015), 80 FR 3697 (January 23, 2015) (``Order Instituting 
Proceedings'').
    \6\ See letters to Elizabeth M. Murphy, Secretary, Commission, 
from Elizabeth King, Secretary & General Counsel, Exchange, dated 
January 8, 2015 and February 27, 2015.
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    Section 19(b)(2) of the Act \7\ 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.\8\ 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.\9\ The 
proposed rule change was published for notice and comment in the 
Federal Register on October 21, 2014. April 19, 2015, is 180 days from 
that date, and June 18, 2015, is 240 days from that date.
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    \7\ 15 U.S.C. 78s(b)(2).
    \8\ 15 U.S.C. 78s(b)(2)(B)(ii)(I).
    \9\ 15 U.S.C. 78s(b)(2)(B)(ii)(II).
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    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 proposal, 
and the issues raised in NYSE MKT's comment letters.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\10\ designates June 18, 2015 as the date by which the Commission 
shall either approve or disapprove the proposed rule change (File No. 
SR-NYSEMKT-2014-86).
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    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(57).
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Brent J. Fields,
Secretary.
[FR Doc. 2015-08698 Filed 4-15-15; 8:45 am]
 BILLING CODE 8011-01-P