80 FR 48375 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Implement CHX SNAPSM

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 155 (August 12, 2015)

[Federal Register Volume 80, Number 155 (Wednesday, August 12, 2015)]
[Notices]
[Pages 48375-48376]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-19760]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75630; File No. SR-CHX-2015-03]


Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change To Implement CHX SNAPSM, an Intra-Day 
and On-Demand Auction Service

August 6, 2015.
    On June 23, 2015, the Chicago Stock Exchange, Inc. (``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 
implement CHX SNAPSM, which would be an intra-day and on-
demand auction service that would be initiated at the request of market 
participants seeking to trade securities in bulk. The proposed rule 
change was published for comment in the Federal

[[Page 48376]]

Register on July 8, 2015.\3\ The Commission has received no comment 
letters regarding 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. 75346 (July 1, 
2015), 80 FR 39172 (``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 Commission is extending this 45-day time 
period.
---------------------------------------------------------------------------

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

    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. 
Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\5\ designates October 6, 2015 as the date by which the Commission 
should either approve or disapprove or institute proceedings to 
determine whether to disapprove the proposed rule change (File Number 
SR-CHX-2015-03).
---------------------------------------------------------------------------

    \5\ Id.

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

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

Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-19760 Filed 8-11-15; 8:45 am]
 BILLING CODE 8011-01-P