Regulatory Notice 07-63
FINRA Adopts Rule Amendments Relating to Reporting of Odd-Lot Transactions; Effective Date: March 3, 2008
Effective Monday, March 3, 2008, when reporting odd-lot transactions1 to a FINRA Trade Reporting Facility (TRF), the Alternative Display Facility (ADF) and the OTC Reporting Facility (ORF) (collectively referred to as the "FINRA Facilities"), firms:
The text of the amended rule language is available at www.finra.org/Industry/Regulation/RuleFilings/2007/P037160.
Questions regarding this Notice may be directed to the Legal Section, Market Regulation, at (240) 386-5126; or the Office of General Counsel, at (202) 728-8071.
1 For purposes of the trade reporting rules, an odd lot is less than a "normal unit of trading," which is defined as "100 shares of a security unless, with respect to a particular security, NASD determines that a normal unit of trading shall constitute other than 100 shares." See NASD Rules 4200, 4200A, 4200C and 4200E.
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