87 FR 208 pgs. 65272-65273 - Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Relocate Equity 2, Section 3
Type: NOTICEVolume: 87Number: 208Pages: 65272 - 65273
Pages: 65272, 65273Docket number: [Release No. 34-96132; File No. SR-NASDAQ-2022-058]
FR document: [FR Doc. 2022-23480 Filed 10-27-22; 8:45 am]
Agency: Securities and Exchange Commission
Official PDF Version: PDF Version
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-96132; File No. SR-NASDAQ-2022-058]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Relocate Equity 2, Section 3
October 24, 2022.
Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 ("Act"), 1 and Rule 19b-4 thereunder, 2 notice is hereby given that on October 19, 2022, The Nasdaq Stock Market LLC ("Nasdaq" or "Exchange") filed with the Securities and Exchange Commission ("SEC" or "Commission") the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.
Footnotes:
1 ?15 U.S.C. 78s(b)(1).
2 ?17 CFR 240.19b-4.
I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change
The Exchange proposes to relocate Equity 2, Section 3, Nasdaq Market Center Participant Registration.
The text of the proposed rule change is available on the Exchange's website at https://listingcenter.nasdaq.com/rulebook/nasdaq/rules, at the principal office of the Exchange, and at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to relocate Equity 2, Section 3, Nasdaq Market Center Participant Registration, to proposed new General 3, Rule 1032. 3 The Exchange proposes to reserve Equity 2, Section 3.
Footnotes:
3 ?The General Rules applies to both equity and options products.
Today, Equity 2, Section 3 applies to Nasdaq members who trade equity and options products. 4 The Exchange believes that relocating Equity 2, Section 3, Nasdaq Market Center Participant Registration, to proposed new General 3, Rule 1032 will make clear the applicability of this rule to equity members and Options Participants alike.
Footnotes:
4 ?An Options Participant of The Nasdaq Options Market LLC ("NOM") must be a member of Nasdaq.
Equity 2, Section 3 would be relocated to proposed new General 3, Rule 1032 without change.
2. Statutory Basis
The Exchange believes that its proposal is consistent with section 6(b) of the Act, 5 in general, and furthers the objectives of section 6(b)(5) of the Act, 6 in particular, in that it is designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general to protect investors and the public interest by relocating Equity 2, Section 3 to proposed new General 3, Rule 1032, without change, to make the applicability of this rule to equity members and Options Participants alike.
Footnotes:
5 ?15 U.S.C. 78f(b)
6 ?15 U.S.C. 78f(b)(5).
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. Relocating Equity 2, Section 3 to proposed new General 3, Rule 1032, without change, does not create an undue burden on competition. Equity 2, Section 3 will continue to apply to all equity members and Options Participants alike.
C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action
Because the foregoing proposed rule change does not: (i) significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to section 19(b)(3)(A)(iii) of the Act? 7 and subparagraph (f)(6) of Rule 19b-4 thereunder. 8
Footnotes:
7 ?15 U.S.C. 78s(b)(3)(A)(iii).
8 ?17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement.
At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods:
Electronic Comments
• Use the Commission's internet comment form ( http://www.sec.gov/rules/sro.shtml ); or
• Send an email to rule-comments@sec.gov. Please include File Number SR-NASDAQ-2022-058 on the subject line.
Paper Comments
• Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.
[top] All submissions should refer to File Number SR-NASDAQ-2022-058. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's internet website ( http://www.sec.gov/rules/sro.shtml ). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 9
Footnotes:
9 ?17 CFR 200.30-3(a)(12).
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-23480 Filed 10-27-22; 8:45 am]
BILLING CODE 8011-01-P