NASD Notice to Members 99-34 - April 1999

NASD Offers Guidance on Complying With New SEC Rule Regarding Alternative Trading Systems; Rule Effective April 21, 1999

Executive Summary

On April 21, 1999, Securities and Exchange Commission (SEC) Rules 3a1-1, 3b-16, and Regulation Alternative Trading System (ATS) will become effective. Regulation ATS establishes certain thresholds for share volume of trading. For ATSs that are National Association of Securities Dealers, Inc. (NASDr) members subject to these requirements, this Notice provides information regarding the steps they should take to calculate their volume in order to determine whether they exceed the volume thresholds of Regulation ATS.

 

Questions regarding this Notice may be directed to Eugene A. Lopez, Vice President, Trading & Market Services, The Nasdaq Stock Market, Inc., at (202) 728-6998.