2019-27591. Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Adopt Nasdaq Rule 5704 and Other Related Amendments  

  • Start Preamble December 17, 2019.

    On November 8, 2019, The Nasdaq Stock Market LLC (“Nasdaq”) 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, among other things, adopt new Nasdaq Rule 5704 to list and trade Exchange Traded Fund Shares. The proposed rule change was published for comment in the Federal Register on November 22, 2019.[3] The Commission has received no comment letters on the proposed rule change.

    Section 19(b)(2) of the Act [4] 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 will 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 January 6, 2020. The Commission is extending this 45-day time period.

    The Commission finds it appropriate to designate a longer period within which to take action on 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,[5] designates February 20, 2020 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-2019-090).

    Start Signature

    For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6

    J. Matthew DeLesDernier,

    Assistant Secretary.

    End Signature End Preamble


    1.  15 U.S.C.78s(b)(1).

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    3.  See Securities Exchange Act Release No. 87559 (Nov. 18, 2019), 84 FR 64574.

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    [FR Doc. 2019-27591 Filed 12-20-19; 8:45 am]

    BILLING CODE 8011-01-P

Document Information

Securities and Exchange Commission
Document Number:
70610-70610 (1 pages)
Docket Numbers:
Release No. 34-87776, File No. SR-NASDAQ-2019-090
PDF File: