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90 FR 47 pgs. 11866-11867 - Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Introduce Functionality To Initiate a Trading Halt for Exchange-Traded Products on Launch Day

Type: NOTICEVolume: 90Number: 47Pages: 11866 - 11867
Docket number: [Release No. 34-102537; File No. SR-NASDAQ-2025-011]
FR document: [FR Doc. 2025-03886 Filed 3-11-25; 8:45 am]
Agency: Securities and Exchange Commission
Official PDF Version:  PDF Version
Pages: 11866, 11867

[top] page 11866

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102537; File No. SR-NASDAQ-2025-011]

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Introduce Functionality To Initiate a Trading Halt for Exchange-Traded Products on Launch Day

March 6, 2025.

On January 31, 2025, 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 introduce an optional functionality for Exchange-Traded Products to initiate a trading halt on the launch day of an Exchange-Traded Product, similar to the halt used in initial public offerings. The proposed rule change was published for comment in the Federal Register on February 20, 2025. 3

Footnotes:

1 ?15 U.S.C. 78s(b)(1).

2 ?17 CFR 240.19b-4.

3 ? See Securities Exchange Act Release No. 102413 (February 13, 2025), 90 FR 10001 (February 20, 2025).


[top] 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 page 11867 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 after publication of the notice for this proposed rule change is April 6, 2025. The Commission is extending this 45-day time period.

Footnotes:

4 ?15 U.S.C. 78s(b)(2).

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 May 21, 2025, 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-2025-011).

Footnotes:

5 ? Id.

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

Footnotes:

6 ?17 CFR 200.30-3(a)(31).

Vanessa A. Countryman,

Secretary.

[FR Doc. 2025-03886 Filed 3-11-25; 8:45 am]

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