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").

TitleFormat - SizeStatus
Text of Proposed Rule ChangePDF - 61.94 KB
Amendment No. 1 to Proposed Rule ChangePDF - 30.46 KB
Federal Register NoticePDF - 65.15 KB
Response to CommentsPDF - 69.8 KB
Extension No. 1PDF - 19.46 KB
Amendment No. 2 to Proposed Rule ChangePDF - 27.81 KB
Approval OrderPDF - 62.9 KB