83 FR 5499 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Adopt New Equity Trading Rules for Trading UTP Securities on Pillar, Including Orders and Modifiers, Order Ranking and Display, and Order Execution and Routing

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 26 (February 7, 2018)

[Federal Register Volume 83, Number 26 (Wednesday, February 7, 2018)]
[Notices]
[Page 5499]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-02395]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82613; File No. SR-NYSE-2017-36]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Designation of a Longer Period for Commission Action on 
Proceedings To Determine Whether To Approve or Disapprove a Proposed 
Rule Change To Adopt New Equity Trading Rules for Trading UTP 
Securities on Pillar, Including Orders and Modifiers, Order Ranking and 
Display, and Order Execution and Routing

February 1, 2018.
    On July 28, 2017, New York Stock Exchange LLC (``NYSE'' 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 adopt new equity trading rules to allow the 
Exchange to trade securities that are listed on a national securities 
exchange other than NYSE (``UTP Securities'') \3\ pursuant to unlisted 
trading privileges for the first time on Pillar, the Exchange's new 
trading technology platform. The proposed rule change was published for 
comment in the Federal Register on August 9, 2017.\4\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See NYSE Rule 1.1(ii) for a definition of UTP Security.
    \4\ See Securities Exchange Act Release No. 81310 (Aug. 3, 
2017), 82 FR 37257 (Aug. 9, 2017).
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    On September 18, 2017, pursuant to Section 19(b)(2) of the Act,\5\ 
the Commission designated November 7, 2017, as the date 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.\6\ On November 7, 2017, the Commission instituted 
proceedings under Section 19(b)(2)(B) of the Act \7\ to determine 
whether to approve or disapprove the proposed rule change.\8\ The 
Commission has received no comments on the proposed rule change.
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    \5\ 15 U.S.C. 78s(b)(2).
    \6\ See Securities Exchange Act Release No. 81641 (Sept. 18, 
2017), 82 FR 44483 (Sept. 22, 2017).
    \7\ 15 U.S.C. 78s(b)(2)(B).
    \8\ See Securities Exchange Act Release No. 82028 (Nov. 7, 
2017), 82 FR 52757 (Nov. 14, 2017).
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    Section 19(b)(2) of the Act \9\ provides that, after initiating 
disapproval proceedings, the Commission shall issue an order approving 
or disapproving the proposed rule change not later than 180 days after 
the date of publication of notice of filing of the proposed rule 
change. The Commission may extend the period for issuing an order 
approving or disapproving the proposed rule change by not more than 60 
days if the Commission determines that a longer period is appropriate 
and publishes the reasons for such determination. As noted earlier, the 
proposed rule change was published for notice and comment in the 
Federal Register on August 9, 2017. February 5, 2018, is 180 days from 
that date, and April 6, 2018, is 240 days from that date.
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    \9\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider this proposed 
rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) 
of the Act,\10\ designates April 6, 2018 as the date by which the 
Commission should either approve or disapprove the proposed rule change 
(File Number SR-NYSE-2017-36).
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    \10\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(57).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-02395 Filed 2-6-18; 8:45 am]
 BILLING CODE 8011-01-P