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.