[Federal Register Volume 85, Number 49 (Thursday, March 12, 2020)] [Notices] [Page 14513] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 2020-05026] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-88342; File No. SR-NASDAQ-2020-003] Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of Longer Period for Commission Action on a Proposed Rule Change To Amend Rule 4121(b) March 6, 2020. On January 14, 2020, 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 amend Rule 4121(b) concerning the resumption of trading following a Level 3 trading halt due to extraordinary market volatility. The proposed rule change was published for comment in the Federal Register on January 23, 2020.\3\ The Commission received no comment letters on the proposed rule change. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ See Securities Exchange Act Release No. 88004 (January 17, 2020), 85 FR 3992 (``Notice''). --------------------------------------------------------------------------- Section 19(b)(2) of the Act \4\ provides that, within 45 days of the publication of the 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 after publication of the notice for this proposed rule change is March 8, 2020. --------------------------------------------------------------------------- \4\ 15 U.S.C. 78s(b)(2). --------------------------------------------------------------------------- The Commission is extending the 45-day time period for Commission action on the proposed rule change. The Commission finds that it is 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, including whether the proposed rule change should be approved in the event the other national securities exchanges and FINRA do not intend to harmonize their market-wide circuit breaker rules to facilitate appropriately a cross-market resumption of trading following a Level 3 halt that is no different from a normal trading day. Accordingly, pursuant to Section 19(b)(2) of the Act,\5\ the Commission designates April 22, 2020 as the date by which the Commission shall either approve, disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR-NASDAQ-2020-003). --------------------------------------------------------------------------- \5\ 15 U.S.C. 78s(b)(2)(A)(ii)(I). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\6\ --------------------------------------------------------------------------- \6\ 17 CFR 200.30-3(a)(31). --------------------------------------------------------------------------- J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020-05026 Filed 3-11-20; 8:45 am] BILLING CODE 8011-01-P