81 FR 35411 - Self-Regulatory Organizations; ISE Gemini, LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend Rule 804(g)

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 106 (June 2, 2016)

[Federal Register Volume 81, Number 106 (Thursday, June 2, 2016)]
[Notices]
[Pages 35411-35412]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-12874]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77927; File No. SR-ISE Gemini-2015-17]


Self-Regulatory Organizations; ISE Gemini, LLC; Notice of 
Designation of Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change To 
Amend Rule 804(g)

May 26, 2016.
    On November 12, 2015, ISE Gemini, LLC (``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 require 
clearing member approval before a market maker could resume trading 
after the activation of a market-wide speed bump under Exchange Rule 
804(g). The proposed rule change was published for comment in the 
Federal Register on November 30, 2015.\3\ On January 13, 2016, the 
Commission extended the time period within which to approve the 
proposed rule change, disapprove the proposed rule change, or institute 
proceedings to determine whether to disapprove the proposed rule 
change, to February 28, 2016.\4\ On February 26, 2016, the Commission 
instituted proceedings under Section 19(b)(2)(B) of the Act \5\ to 
determine whether to approve or disapprove the proposed rule change.\6\ 
The Commission has received no comment letters on the proposal.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 76505 (November 23, 
2015), 80 FR 74824.
    \4\ See Securities Exchange Act Release No. 76894 (January 13, 
2016), 81 FR 3213 (January 20, 2016).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 77247 (February 26, 
2016), 81 FR 11309 (March 3, 2016).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act provides that proceedings to determine 
whether to disapprove a proposed rule change

[[Page 35412]]

must be concluded within 180 days of the date of publication of notice 
of the filing of the proposed rule change.\7\ The time for conclusion 
of the proceedings may be extended for up to 60 days if the Commission 
determines that a longer period is appropriate and publishes the 
reasons for such determination.\8\ The 180th day for this filing is May 
28, 2016.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(2)(B)(ii)(I).
    \8\ 15 U.S.C. 78s(b)(2)(B)(ii)(II).
---------------------------------------------------------------------------

    The Commission is extending the 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)(B)(ii)(II) of the Act \9\ 
and for the reasons stated above, the Commission designates July 27, 
2016, as the date by which the Commission should either approve or 
disapprove the proposed rule change (File No. SR-ISE Gemini-2015-17).
---------------------------------------------------------------------------

    \9\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2016-12874 Filed 6-1-16; 8:45 am]
 BILLING CODE 8011-01-P