Rule 2860, Option Position Limits: Extension of Hedge Exemption Pilot Program

NASDR has filed with the SEC a proposed rule change to amend Rule 2860(b)(3)(A)(vii)(c) of the National Association of Securities Dealers, Inc. to extend, until December 31, 1999, the Association's pilot program for exemptions from equity option position limits for certain hedged positions ("hedge exemption pilot program").