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Printer-Friendly SR-FINRA-2007-039

Proposed Rule Change to Establish an Exemption for Certain Regulation NMS-Compliant Intermarket Sweep Orders from the Requirements in IM-2110-2  and Rule 2111

Financial Industry Regulatory Authority, Inc. ("FINRA") (f/k/a National Association of Securities Dealers, Inc. ("NASD")) is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend NASD Interpretive Material (IM) 2110-2 (Trading Ahead of Customer Limit Order) and NASD Rule 2111 (Trading Ahead of Customer Market Orders) to establish an exemption for certain proprietary trades that are a result of intermarket sweep orders ("ISOs").

Text of Proposed Rule Change PDF 62 KB

Amendment No. 1 to Proposed Rule Change PDF 31 KB

Federal Register Notice PDF 66 KB

Response to Comments PDF 70 KB

Extension No. 1 PDF 20 KB

Amendment No. 2 to Proposed Rule Change PDF 28 KB

Approval Order PDF 63 KB