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Federal Register / Vol. 86, No. 208 / Monday, November 1, 2021 / Notices
III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19b3Aii of the Act,33 and Rule 19b4f2 34 thereunder. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved.
IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act.
Comments may be submitted by any of the following methods:

lotter on DSK11XQN23PROD with NOTICES1

Electronic Comments Use the Commissions internet comment form http www.sec.gov/
rules/sro.shtml; or Send an email to rule-comments@
sec.gov. Please include File Number SR
MIAX202150 on the subject line.
Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 205491090.
All submissions should refer to File Number SRMIAX202150. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commissions internet website http www.sec.gov/
rules/sro.shtml. Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commissions Public 33
34

15 U.S.C. 78sb3Aii.
17 CFR 240.19b4f2.

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Reference Room, 100 F Street NE, Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change.
Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SRMIAX202150, and should be submitted on or before November 22, 2021.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.35
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202123671 Filed 102921; 8:45 am BILLING CODE 801101P

SECURITIES AND EXCHANGE
COMMISSION
Release No. 3493428; File No. SR
NASDAQ2021040

Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing of Amendment No. 1 and Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Establish the Extended Trading Close and a New Extended Trading Close Order Type October 26, 2021.

I. Introduction On July 12, 2021, The Nasdaq Stock Market LLC Nasdaq or Exchange filed with the Securities and Exchange Commission Commission, pursuant to Section 19b1 of the Securities Exchange Act of 1934 Act 1 and Rule 19b4 thereunder,2 a proposed rule change to add Equity 4, Rule Rule 4755 and amend Rules 4702 and 4703
to establish the Extended Trading Close, as well as the ETC Eligible LOC and Extended Trading Close order types. The proposed rule change was published for comment in the Federal Register on July 28, 2021.3 On 17 CFR 200.303a12.
U.S.C. 78sb1.
2 17 CFR 240.19b4.
3 See Securities Exchange Act Release No. 92466
July 22, 2021, 86 FR 40667. The comment letters received on the proposed rule change are available on the Commissions website at: https
www.sec.gov/comments/sr-nasdaq-2021-040/
srnasdaq2021040.htm.
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September 9, 2021, pursuant to Section 19b2 of the Act,4 the Commission designated a longer 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.5 On October 25, 2021, the Exchange filed Amendment No. 1 to the proposed rule change, which amended and superseded the proposed rule change as originally filed.6 The Commission is publishing this notice and order to solicit comments on the proposed rule change, as modified by Amendment No. 1, from interested persons and to institute proceedings pursuant to Section 19b2B of the Act 7 to determine whether to approve or disapprove the proposed rule change, as modified by Amendment No. 1.
II. Description of the Proposal The Exchange proposes to adopt the Extended Trading Close ETC, which would be a process during which eligible orders in Nasdaq-listed securities 8 may match and execute at the Nasdaq official closing price NOCP, as determined by the Nasdaq closing cross or the LULD closing cross together, the Closing Cross, for a five-minute period immediately following the Closing Cross.9 According to the Exchange, the ETC would be complementary to the Closing Cross and is not intended or expected to be a substitute for the Closing Cross,10 and it would allow participants an additional 4 15

U.S.C. 78sb2.
Securities Exchange Act Release No. 92905, 86 FR 51390 September 15, 2021. The Commission designated October 26, 2021 as the date by which the Commission shall approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.
6 In Amendment No. 1, the Exchange modified the scenarios in which executions in the Extended Trading Close would be suspended, and made other conforming and clarifying changes throughout the proposed rule change. Amendment No. 1 is available on the Commissions website at: https
www.sec.gov/comments/sr-nasdaq-2021-040/
srnasdaq2021040.htm.
7 15 U.S.C. 78sb2B.
8 The Exchange states that it is appropriate to limit participation in the ETC to orders in Nasdaqlisted securities, given the Exchanges role as the primary listing market and its commitment in investing in and enhancing the Closing Cross as defined herein for Nasdaq-listed securities. See Amendment No. 1 at 20. The Exchange also states that the vast majority of participants looking to trade at the closing price participate in the primary listing markets closing auction and do not route orders to non-primary listing market destinations.
See id.
9 See proposed Rule 4755a5.
10 See Amendment No. 1 at 18. The Exchange states that it does not expect the ETC to have an impact on participation in the Closing Cross, and that a number of off-exchange venues already offer their participants the ability to receive the NOCP
after the Closing Cross. See id.
5 See
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