SR-FINRA-2011-036

Proposed Rule Change to Amend FINRA Rule 2360 to Increase the Position Limit for Options on the Standard and Poor’s Depositary Receipts Trust

Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend FINRA Rule 2360 (Options), Supplementary Material .03 to increase the position limit for options on the Standard and Poor’s Depositary Receipts Trust (“SPY”).