[Federal Register Volume 78, Number 187 (Thursday, September 26, 2013)]
[Notices]
[Pages 59390-59391]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-23422]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-70463; File Nos. SR-NYSE-2013-54; SR-NYSEMKT-2013-66; 
SR-NYSEARCA-2013-77]


Self-Regulatory Organizations; New York Stock Exchange LLC; NYSE 
MKT LLC; NYSE Arca, Inc.; Notice of Designation of a Longer Period for 
Commission Action on Proposed Rule Changes That Address the Exchanges' 
Emergency Powers

September 20, 2013.
    On July 22, 2013, the New York Stock Exchange LLC (``NYSE''), NYSE 
MKT LLC (``NYSE MKT''), and NYSE Arca, Inc. (``NYSE Arca'' and together 
with NYSE and NYSE MKT, the ``Exchanges'') each 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\ proposed rule changes to address their emergency 
powers. The proposed rule changes were published for comment in the 
Federal Register on August 8, 2013.\3\ The Commission received two 
comments on the proposals.\4\ The Exchanges submitted a response to the 
comment letters on September 9, 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 Nos. 70099 (August 2, 
2013), 78 FR 48522 (SR-NYSE-2013-54); 70098 (August 2, 2013), 78 FR 
48513 (SR-NYSEMKT-2013-66); and 70097 (August 2, 2013), 78 FR 48528 
(SR-NYSEARCA-2013-77).
    \4\ See Letters to the Commission from Elizabeth King, Global 
Head of Regulatory Affairs, KCG Holdings, Inc., dated August 28, 
2013, and Manisha Kimmel, Executive Director, Financial Information 
Forum (``FIF''), dated August 29, 2013.
    \5\ See Letter to the Commission from Janet McGinnis, General 
Counsel, NYSE Markets, dated September 9, 2013 (``Exchanges' 
Response Letter'').
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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 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 these filings is September 22, 2013.
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    \6\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day period for Commission action 
on the proposed rule changes. The Commission finds that it is 
appropriate to designate a longer period to take action on the proposed 
rule changes so that it has sufficient time to consider the Exchanges' 
proposals, which would alter the way the Exchanges operate in the event 
of an emergency, and to consider the comment letters that have been 
submitted in connection with the proposed rule changes. The Commission 
notes that the Exchanges and industry participants will conduct testing 
on September 21, 2013, relating to the proposals' implementation.\7\
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    \7\ See Exchanges' Response Letter, supra note 5, at 2.
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    Accordingly, pursuant to Section 19(b)(2) of the Act,\8\ the 
Commission designates November 6, 2013, as the date by which the 
Commission should either approve or disapprove, or institute 
proceedings to determine whether to disapprove, the proposed rule 
changes (File Numbers SR-NYSE-2013-54; SR-NYSEMKT-2013-66; and SR-
NYSEARCA-2013-77).
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ 17 CFR 200.30-3(a)(12).


[[Page 59391]]


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    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-23422 Filed 9-25-13; 8:45 am]
BILLING CODE 8011-01-P