Regulation NMS Announcements

On July 9, 2007, the Regulation NMS Pilot Stocks Phase began and new trade reporting requirements under certain NASD rules consistent with Regulation NMS became effective. Questions concerning member obligations under NASD rules and Regulation NMS may be directed to the following:

 

FINRA, Market Regulation Department:  (240) 386-5126

FINRA, Office of General Counsel:  (202) 728-8071
FINRA, Market Operations:  (866) 776-0800

 

Regulation NMS Phone-In Workshop On-Demand

 

This phone-in workshop is designed to address frequently asked questions about Regulation NMS implementation. Regulation NMS, which the SEC adopted in June 2005, includes substantive new rules designed to modernize and strengthen the regulatory structure of U.S. equity markets. This program runs approximately 90 minutes and its original, live air date was September 17, 2007.

To access the recorded Phone-In Workshop, please dial the phone number provided.

 

  • Toll-Free Number within the United States: (800) 679-9640
  • Outside the United States: (402) 220-0275

 

If you have questions regarding the Phone-In Workshop, please email us.

 

FINRA Self-Help Email Address

 

Trade Reporting Facilities (TRFs) and the Alternative Display Facility (ADF) are not considered trading centers or SRO trading facilities under SEC Regulation NMS and its Order Protection Rule. However, the participants in the TRFs and the ADF are considered trading centers and under appropriate circumstances, can invoke the self-help exception under the SEC Regulation NMS Order Protection Rule. Therefore, electronic notifications indicating the invocation of the self-help exception should be directed to the trading centers utilizing either the ADF or TRFs and copies of the notifications should be sent to FINRA. In addition, trading centers utilizing either the ADF or TRFs should copy FINRA on any self-help notifications that they receive indicating that the self-help exception has been declared against them and copy FINRA on any electronic notifications sent by them to another trading center indicating the declaration of the self-help exception.

 

FINRA Self-Help Email Address: selfhelp@finra.org

 

Compliance Dates

 

The compliance dates for Regulation NMS's Order Protection Rule and Access Rule are as follows:

 

  • Trade Phase Date: March 5, 2007. The revised Trading Phase has been extended from March 5, 2007 to July 9, 2007.
  • Pilot Stocks Phase Date: July 9, 2007. The revised Pilot Stock Phase has been extended from July 9, 2007 to August 20, 2007.
  • All Stocks Phase Date: August 20, 2007. The revised All Stocks Phase has been extended from August 20, 2007 until October 8, 2007.
  • Completion Date: October 8, 2007.