[Federal Register Volume 84, Number 32 (Friday, February 15, 2019)]
[Notices]
[Pages 4553-4554]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-02392]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-85096; File No. SR-NYSE-2018-34]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Designation of Longer Period for Commission Action on
Proceedings To Determine Whether To Approve or Disapprove a Proposed
Rule Change To Amend NYSE Rule 104 Governing Transactions by Designated
Market Makers
February 11, 2019.
On July 31, 2018, New York Stock Exchange LLC (``NYSE'') 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 NYSE Rule
104 governing transactions by Designated Market Makers (``DMMs''). The
proposed rule change was published for comment in the Federal Register
on August 16, 2018.\3\ On September 24, 2018, pursuant to Section
19(b)(2) of the Act,\4\ the Commission extended to November 14, 2018
the time period in which to approve, disapprove, or institute
proceedings to determine whether to approve or disapprove, the proposed
rule change.\5\ On November 1, 2018, the Commission issued an order
instituting proceedings, pursuant to Section 19(b)(2)(B) of the Act,\6\
to determine whether to approve or disapprove the proposed rule
change.\7\ The Commission has received one comment letter on the
proposal.\8\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 83821 (Aug. 10,
2018), 83 FR 40808 (Aug. 16, 2018).
\4\ 15 U.S.C. 78s(b)(2).
\5\ See Securities Exchange Act Release No. 84276 (Sep. 24,
2018), 83 FR 49143 (Sep. 28, 2018).
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 84515, (Nov. 1,
2018), 83 FR 55763 (Nov. 7, 2018).
\8\ See Letter from Stephen John Berger, Managing Director,
Government and Regulatory Policy, Citadel Securities, to Assistant
Secretary, Commission, dated Nov. 28, 2018.
---------------------------------------------------------------------------
Section 19(b)(2) of the Act \9\ 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. 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. The
proposed rule change was published for notice and comment in the
Federal Register on August 16, 2018. February 12, 2019 is 180 days from
that date, and April 13, 2019 is 240 days from that date.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------
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 proposed
rule change. Accordingly, the Commission, pursuant to Section 19(b)(2)
of the Act,\10\ designates April
[[Page 4554]]
13, 2019, as the date by which the Commission shall either approve or
disapprove the proposed rule change (File No. SR-NYSE-2018-34).
---------------------------------------------------------------------------
\10\ Id.
\11\ 17 CFR 200.30-3(a)(57).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-02392 Filed 2-14-19; 8:45 am]
BILLING CODE 8011-01-P