[Federal Register Volume 81, Number 197 (Wednesday, October 12, 2016)]
[Notices]
[Page 70452]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-24574]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79049; File No. SR-Nasdaq-2016-120]


Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Change To Adopt the Third Party Connectivity Service 
Under Rules 7034(b) and 7051

October 5, 2016.
    On August 16, 2016, 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 
adopt the Third Party Connectivity Service under Rules 7034(b) and 
7051.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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    The proposed rule change was published for comment in the Federal 
Register on September 2, 2016.\3\ The Commission received one comment 
in response to the proposal.\4\ The Exchange responded to the comment 
on October 4, 2016.\5\
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    \3\ See Securities Exchange Act Release No. 78713 (August 29, 
2016), 81 FR 60768.
    \4\ See letter from Eric Swanson, Esq., General Counsel, Bats 
Global Markets, Inc., to Brent J. Fields, Secretary, Securities and 
Exchange Commission, dated September 12, 2016 (``Bats Letter'').
    \5\ See letter from Jeffrey S. Davis, Vice President and General 
Counsel, NASDAQ Stock Market LLC, to Brent J. Fields, Secretary, 
Securities and Exchange Commission, dated October 4, 2016 (``NASDAQ 
Response'').
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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 after publication of the notice for this proposed rule change 
is October 17, 2016. The Commission is extending this 45-day time 
period.
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    \6\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so as to allow 
sufficient time to consider the issues raised in the Bats Letter and 
NASDAQ Response. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\7\ designates December 1, 2016, as the date by 
which the Commission shall either approve or disapprove, or institute 
proceedings to determine whether to disapprove, the proposed rule 
change (File No. SR-Nasdaq-2016-120).
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    \7\ Id.

    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)(31).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-24574 Filed 10-11-16; 8:45 am]
BILLING CODE 8011-01-P