Proposed Rule Change to Amend NASD Rules 4130A, 4300A, 4613A, 4617A, and 4632A Regarding the Alternative Display Facility

NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend NASD Rules 4130A, 4300A, 4613A, 4617A, and 4632A regarding the Alternative Display Facility ("ADF"). Specifically, the proposed rule change expands the prohibition on locking or crossing quotations in NMS stocks to include pre-opening and post-closing quotations, extends the obligation to comply with the ADF rules to pre-opening quotes, and replaces the specific modifiers identified in Rule 4632A(a)(4) with a more general reference to modifiers as specified by NASD.

TitleFormat - SizeStatus
Text of Proposed Rule ChangePDF - 82.69 KB
Notice of Filing and Immediate EffectivenessPDF - 67.69 KB