1. Short title This Act may be cited as the Main Street Growth Act . 2. Venture exchanges (a) Securities Exchange Act of 1934 Section 6 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78f ) is amended by adding at the end the following: (m) Venture exchange (1) Registration (A) In general A national securities exchange may elect to be treated (or for a listing tier of such exchange to be treated) as a venture exchange— (i) by notifying the Commission of such election at the time the exchange applies to be registered as a national securities exchange; or (ii) after registering as a national securities exchange, by submitting such election as a proposed rule change, as described under section 19(b). (B) Determination time period With respect to a securities exchange electing to be treated (or for a listing tier of such exchange to be treated) as a venture exchange— (i) at the time the exchange applies to be registered as a national securities exchange, such application and election shall be deemed to have been approved by the Commission unless the Commission denies such application before the end of the 6-month period beginning on the date the Commission received such application; and (ii) after registering as a national securities exchange, such election shall be deemed to have been approved by the Commission unless the Commission denies such approval before the end of the 6-month period beginning on the date the Commission received notification of such election. (2) Powers and restrictions A venture exchange— (A) may only constitute, maintain, or provide a market place or facilities for bringing together purchasers and sellers of venture securities; (B) may determine the increment to be used for quoting and trading venture securities on the exchange; (C) may choose to carry out periodic auctions for the sale of a venture security instead of providing continuous trading of the venture security