81 FR 24907 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Amending Rule 123C To Provide for How the Exchange Would Determine an Official Closing Price if the Exchange is Unable To Conduct a Closing Transaction

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 81 (April 27, 2016)

[Federal Register Volume 81, Number 81 (Wednesday, April 27, 2016)]
[Notices]
[Page 24907]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-09720]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77677; File No. SR-NYSE-2016-18]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change Amending Rule 123C To Provide for How the Exchange 
Would Determine an Official Closing Price if the Exchange is Unable To 
Conduct a Closing Transaction

April 21, 2016.

    On February 25, 2016, New York Stock Exchange LLC (``NYSE'' or the 
``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 123C to provide for how the Exchange 
would determine an Official Closing Price if the Exchange is unable to 
conduct a closing transaction. The proposed rule change was published 
for comment in the Federal Register on March 11, 2016.\3\ The 
Commission has received one comment letter on the proposal.\4\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 77305 (March 7, 
2016), 81 FR 12977.
    \4\ See Letter from Theodore R. Lazo, Managing Director and 
Associate General Counsel, Securities Industry and Financial Markets 
Association, to Brent J. Fields, Secretary, Commission, dated April 
5, 2016.
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    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 April 25, 2016.
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    \5\ 15 U.S.C. 78s(b)(2).
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    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 and 
take action on the Exchange's proposed rule change.
    Accordingly, pursuant to section 19(b)(2)(A)(ii)(I) of the Act \6\ 
and for the reasons stated above, the Commission designates June 9, 
2016, 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 No. SR-NYSE-2016-18).
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    \6\ 15 U.S.C. 78s(b)(2)(A)(ii)(I).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-09720 Filed 4-26-16; 8:45 am]
 BILLING CODE 8011-01-P