Proposed Rule Change to Adopt New Rule 5150 and Amend Rule 9610 to Provide NASD With Authority to Exempt Members From Certain New NASD Trade Reporting Requirements

NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to adopt new Rule 5150 to provide NASD with authority to exempt members from certain new NASD trade reporting requirements for the Alternative Display Facility ("ADF") and the NASD Trade Reporting Facilities ("TRFs") relating to Regulation NMS. Specifically, new Rule 5150 would allow member firms that are unable to complete necessary modifications to their order routing and/or trade reporting systems by the applicable compliance date to seek an exemption, not to exceed six months, from the new Regulation NMS-related trade report modifier requirements under NASD Rules 4632, 4632A, 4632C, 4632D and 4632E. In addition, NASD is proposing a conforming change to Rule 9610 to clarify that NASD has exemptive authority under proposed Rule 5150.

TitleFormat - SizeStatus
Text of Proposed Rule ChangePDF - 282.36 KB
Notice of Filing and Immediate EffectivenessPDF - 65.53 KB