2015-14477. Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change, as Modified by Amendments Nos. 1 and 2 Thereto, Relating to the Listing and Trading of ...

June 8, 2015.

I. Introduction

On April 10, 2015, The NASDAQ Stock Market LLC (“Nasdaq” or “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 list and trade the shares (“Shares”) of the following 18 exchange-traded managed funds: Eaton Vance Balanced NextShares^TM; Eaton Vance Global Dividend Income NextShares^TM; Eaton Vance Growth NextShares^TM; Eaton Vance Large-Cap Value NextShares^TM; Eaton Vance Richard Bernstein All Asset Strategy NextShares^TM; Eaton Vance Richard Bernstein Equity Strategy NextShares^TM; Eaton Vance Small-Cap NextShares^TM; Eaton Vance Stock NextShares^TM; Parametric Emerging Markets NextShares^TM; Parametric International Equity NextShares^TM; Eaton Vance Bond NextShares^TM; Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond NextShares^TM; Eaton Vance Floating-Rate & High Income NextShares^TM; Eaton Vance Global Macro Absolute Return NextShares^TM; Eaton Vance Government Obligations NextShares^TM; Eaton Vance High Income Opportunities NextShares^TM; Eaton Vance High Yield Municipal Income NextShares^TM; and Eaton Vance National Municipal Income NextShares^TM (collectively, “Funds”). On April 21, 2015, the Exchange filed Amendments Nos. 1 and 2 to the proposal.^[3] The proposed rule change, as modified by Amendments Nos. 1 and 2 thereto, was published for comment in the Federal Register on April 29, 2015.^[4] The Commission received no comments on the proposed rule change.

Section 19(b)(2) of the Act ^[5] 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 this filing is June 13, 2015. 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, which seeks to list and trade Shares of the Funds pursuant to Nasdaq Rule 5745 governing the listing and trading of Exchange-Traded Managed Fund Shares, so that it has sufficient time to consider this proposed rule change.

Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,^[6] designates July 28, 2015, 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-2015-036).

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.⁷

Robert W. Errett,

Deputy Secretary.

Footnotes

1.  15 U.S.C. 78s(b)(1).

2.  17 CFR 240.19b-4.

3.  Amendment No. 1 amended and replaced the proposed rule change in its entirety. Amendment No. 2 subsequently amended the proposal to include a new footnote to reflect a Web site reference.

4.  See Securities Exchange Act Release No. 74797 (Apr. 23, 2015), 80 FR 23831 (“Notice”).

5.  15 U.S.C. 78s(b)(2).

6.  Id.

7.  17 CFR 200.30-3(a)(31).