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Proposed Amendments to Rule 2320(a), NASD’s Best Execution Rule

NASD has filed with the SEC a proposed rule change to amend NASD Rule 2320(a) (“Best Execution Rule”) to require that a recipient member provide best execution to customer orders routed to it when there is either a written agreement between the originating broker/dealer and the recipient member or written representations from the recipient member that it will provide best execution to the originating broker/dealer’s customer orders.

Text of Proposed Rule Change PDF 53 KB

Amendment No. 1 to Proposed Rule Change PDF 97 KB

Amendment No. 2 to Proposed Rule Change PDF 847 KB

Federal Register Notice PDF 71 KB

Extension No. 1 PDF 20 KB

Amendment No. 3 to Proposed Rule Change PDF 245 KB

Amendment No. 4 to Proposed Rule Change PDF 116 KB

Federal Register Notice of Amendment Nos. 3 and 4 PDF 67 KB

Amendment No. 5 to Proposed Rule Change PDF 27 KB

Approval Order PDF 62 KB