SR-NASD-2006-045

Amendments to Rules 2520 and 2522 to Recognize Additional Complex Option Spread Strategies and Amend Provisions for Permitted Offsets

NASD has filed with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend NASD Rules 2520 and 2522 that will revise the margin requirements to (1) recognize specific additional complex option spread strategies for purposes of determining required margin and (2) amend the provisions relating to "permitted offsets" for certain listed option transactions.