The U.S. Securities Industry Association is asking for more time to review Nasdaq’s application for recognition as an exchange because the industry is on vacation.

In a letter to the SEC, the SIA asks the commission to delay Nasdaq’s recognition as an exchange until December 17, and to extend the comment period on its application until October 31, from July 30.

The SIA says that Nasdaq’s application requires a thorough review and that there just isn’t time to do it in the summer, when both industry and regulatory staff take their vacations.

It also notes that staffs have been very busy this year dealing with several major mergers, decimalization, the implementation of SuperSOES, and new order execution and disclosure rules. “These efforts are consuming a considerable amount of funds and staff time, making it nearly impossible to perform a quick review of the voluminous [application] at this time.”