NASD Notice to Members 97-56 - September 1997

Intermarket Surveillance Group Issues New Automated Reporting Requirements

Executive Summary

New uniform provisions regarding the automated reporting requirement for Positions Hedging Stock Options will become effective on December 31, 1997. New uniform provisions regarding the automated reporting requirement for Stock Index and Currency Warrants will become  effective on December 31, 1997. Effective October 15, 1997, all members will be required to file Large Option Position Reports (LOPRs) for FLEX options electronically with the Securities Industry  Automation Corporation (SIAC1). Effective October 15, 1997, all members must provide a list of all groups of options accounts that act in-concert in a standard electronic format. Further, after October 15, all new or updated in-concert lists must be provided in the same electronic format. All members must successfully test the first three items with SIAC in order to be in compliance by the effective dates. The above new provisions will become effective at the options exchanges, the National Association of Securities Dealers, Inc. (NASD®) and those other exchanges which are approved to trade currency
and stock index warrants. This Notice describing these new provisions and requirements was prepared by the self-regulatory organizations (SROs2) acting jointly as members of the Intermarket Surveillance Group (ISG):

 

American Stock Exchange, Inc. (AMEX)

 

Boston Stock Exchange, Inc. (BSE)

 

Chicago Board Options Exchange, Inc. (CBOE)

 

Chicago Stock Exchange, Inc. (CHX)

 

Cincinnati Stock Exchange, Inc. (CSE)

 

NASD Regulation, Inc.

 

New York Stock Exchange, Inc. (NYSE)

 

Pacific Exchange, Stock & Options, Inc. (PCX)

 

Philadelphia Stock Exchange, Inc. (PHLX)

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