[Federal Register Volume 87, Number 143 (Wednesday, July 27, 2022)]
[Notices]
[Pages 45136-45137]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-16035]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-95345; File No. SR-CTA/CQ-2021-02]


Consolidated Tape Association; Notice of Designation of a Longer 
Period for Commission Action on the Thirty-Seventh Substantive 
Amendment to the Second Restatement of the CTA Plan and the Twenty-
Eighth Substantive Amendment to the Restated CQ Plan

July 21, 2022.
    On November 5, 2021,\1\ the Participants \2\ in the Second 
Restatement of the Consolidated Tape Association (``CTA'') Plan and the 
Restated Consolidated Quotation (``CQ'') Plan (collectively ``CTA/CQ 
Plans'' or ``Plans'') \3\ filed with the Securities and Exchange 
Commission (``SEC'' or ``Commission''), pursuant to Section 11A of the 
Securities Exchange Act of 1934 (``Act'') \4\ and Rule 608 of 
Regulation National Market System (``NMS'') thereunder,\5\ a proposal 
(``Proposed Amendments'') to amend the Plans. The Proposed Amendments 
were published for comment in the Federal Register on November 29, 
2021.\6\
---------------------------------------------------------------------------

    \1\ See Letter from Robert Books, Chair, CTA/CQ Plans Operating 
Committee, to Vanessa Countryman, Secretary, Commission (Nov. 5, 
2021).
    \2\ The ``Participants'' are: Cboe BYX Exchange, Inc.; Cboe BZX 
Exchange, Inc.; Cboe EDGA Exchange, Inc.; Cboe EDGX Exchange, Inc.; 
Cboe Exchange, Inc.; Financial Industry Regulatory Authority, Inc.; 
Investors Exchange LLC; Long-Term Stock Exchange, Inc.; MEMX LLC; 
MIAX PEARL, LLC; Nasdaq BX, Inc.; Nasdaq ISE, LLC; Nasdaq PHLX LLC; 
The Nasdaq Stock Market LLC; New York Stock Exchange LLC; NYSE 
American LLC; NYSE Arca, Inc.; NYSE Chicago, Inc.; and NYSE 
National, Inc.
    \3\ The CTA Plan, pursuant to which markets collect and 
disseminate last-sale price information for non-Nasdaq-listed 
securities, is a ``transaction reporting plan'' under Rule 601 of 
Regulation NMS, 17 CFR 242.601, and a ``national market system 
plan'' under Rule 608 of Regulation NMS, 17 CFR 242.608. The CQ 
Plan, pursuant to which markets collect and disseminate bid/ask 
quotation information for non-Nasdaq-listed securities, is a 
``national market system plan'' under Rule 608 of Regulation NMS, 17 
CFR 242.608. See Securities Exchange Act Release Nos. 10787 (May 10, 
1974), 39 FR 17799 (May 20, 1974) (declaring the CTA Plan 
effective); 15009 (July 28, 1978), 43 FR 34851 (Aug. 7, 1978) 
(temporarily authorizing the CQ Plan); and 16518 (Jan. 22, 1980), 45 
FR 6521 (Jan. 28, 1980) (permanently authorizing the CQ Plan).
    \4\ 15 U.S.C. 78k-1.
    \5\ 17 CFR 242.608.
    \6\ See Securities Exchange Act Release No. 93615 (Nov. 19, 
2021), 86 FR 67800 (Nov. 29, 2021) (``Notice''). Comments received 
in response to the Proposed Amendments are available at https://www.sec.gov/comments/sr-ctacq-2021-02/srctacq202102.htm.
---------------------------------------------------------------------------

    On February 24, 2022, the Commission instituted proceedings 
pursuant to Rule 608(b)(2)(i) of

[[Page 45137]]

Regulation NMS,\7\ to determine whether to approve or disapprove the 
Proposed Amendments or to approve the Proposed Amendments with any 
changes or subject to any conditions the Commission deems necessary or 
appropriate after considering public comment.\8\ On May 19, 2022, 
pursuant to Rule 608(b)(2)(i) of Regulation NMS,\9\ the Commission 
extended the period within which to conclude proceedings regarding the 
Proposed Amendments to 240 days from the date of publication of the 
Notice.\10\
---------------------------------------------------------------------------

    \7\ 17 CFR 242.608(b)(2)(i).
    \8\ See Securities Exchange Act Release No. 94310 (Feb. 24, 
2022), 87 FR 11748 (Mar. 2, 2022).
    \9\ See 17 CFR 242.608(b)(2)(i).
    \10\ See Securities Exchange Act Release No. 94951 (May 19, 
2022), 87 FR 31920 (May 25, 2022).
---------------------------------------------------------------------------

    Rule 608(b)(2)(ii) of Regulation NMS provides that the time for 
conclusion of proceedings to determine whether a national market system 
plan or proposed amendment should be disapproved may be extended for an 
additional period up to 60 days (up to 300 days from the date of notice 
publication) if the Commission determines that a longer period is 
appropriate and publishes the reasons for such determination or the 
plan participants consent to the longer period.\11\ The 240th day after 
publication of the Notice for the Proposed Amendments is July 27, 2022. 
The Commission is extending this 240-day period.
---------------------------------------------------------------------------

    \11\ See 17 CFR 242.608(b)(2)(ii).
---------------------------------------------------------------------------

    The Commission finds that it is appropriate to designate a longer 
period within which to conclude proceedings regarding the Proposed 
Amendments so that it has sufficient time to consider the Proposed 
Amendments and comments received. Accordingly, pursuant to Rule 
608(b)(2)(ii) of Regulation NMS,\12\ the Commission designates 
September 25, 2022, as the date by which the Commission shall conclude 
the proceedings to determine whether to approve or disapprove the 
Proposed Amendments or to approve the Proposed Amendments with any 
changes or subject to any conditions the Commission deems necessary or 
appropriate (File No. SR-CTA/CQ-2021-02).
---------------------------------------------------------------------------

    \12\ Id.

    By the Commission.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-16035 Filed 7-26-22; 8:45 am]
BILLING CODE 8011-01-P