Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change Relating to Alternative Display Facility New Entrant

The U.S. Securities and Exchange Commission, SEC, has published a statement in the Federal Register to inform that it will take more time „to determine whether to approve or disapprove“ a proposed rule change by the Financial Industry Regulatory Authority, FINRA, as regards the addition of a new firm to its list of registered and permitted alternative display facilities setting out quotes for market participants on NMS stock.
FINRA believes that the firm, namely IntelligentCross ATS (IntelligentCross), has adequate policies and procedures in place to ensure access to such quotations by subscribers of the service and to stipulate the fees for such access. The SEC, needs more time to review the comments it has received to a corresponding consultation before deciding on the matter. A decision is expected by August 24, 2023.