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SEC Delays Decision on Changes to Trading Halt Rules

November 28, 2011
Responding to a collective request from fifteen equity and options exchanges, and FINRA, the SEC agreed extend its review of the submitted rule filings that relate to trading halts due to extraordinary market volatility. All respective rule filings had been submitted to the SEC on 9/27/11 and, in accordance with Section 19(b)(2) of the Securities Exchange Act of 1934, the SEC had until 11/18/11, or 45 days, to complete its review and to issue a decision on the proposed rule changes. The SEC has the prerogative to extend its review, from 45 day to 90 days, which it has done - pursuant to everyone's request. Therefore, the SEC has designated 12/30/11 as the date by which the Commission should either approve or disapprove or institute proceedings to determine whether to disapprove these proposed rule changes. Stay tuned. SEC Release No. 34-65770.  Responding to these Rule Filings: SR-BATS-2011-038; SR-BYX-2011-025; SR-BX-2011-068; SR-CBOE-2011-087; SR-C2-2011-024; SR-CHX-2011-30; SR-EDGA-2011-31; SR-EDGX-2011-30; SR-FINRA-2011-054; SR-ISE-2011-61; SR-NASDAQ-2011-131; SR-NSX-2011-11; SR-NYSE-2011-48; SR-NYSEAmex-2011-73; SR-NYSEArca-2011-68; SR-Phlx-2011-129).