NASD Notice to Members 04-85 - November 2004

SEC Approves Amendments to Rule 6954(c) Requiring ECNs to Capture and Report Routed Order Identifier Information to OATS; Effective Date: February 14, 2005

Executive Summary

On September 17, 2004, the Securities and Exchange Commission (SEC) approved amendments to Rule 6954(c) to require that electronic communication networks (ECNs) that electronically receive routed orders capture and report the transmitting member’s unique identifier (routed order identifier) to the Order Audit Trail System (OATS). Rule 6954(c), as amended, is set forth in Attachment A. The amendments become effective on February 14, 2005.