A registered securities exchange must be registered with the SEC, and the application is reviewed in how many days?

• A. 30 days
• B. 60 days
• C. 90 days
• D. 120 days

Answer: (C)

The key idea is the SEC’s review timeframe for registering a national securities exchange. When an exchange file for registration with the SEC, the agency has 90 days to complete its review of the application and decide whether to grant registration, deny it, or request further information. This 90-day window ensures a timely determination so the exchange can operate under regulatory standards covering governance, disclosure, and market surveillance. The period is the baseline; if additional information is needed, the process can extend beyond that, but the standard duration is 90 days.