(a) For purposes of the Rule 6300A Series, unless the context requires otherwise:
(1) "Exchange Act" or "SEA" means the Securities Exchange Act of 1934.
(2) "Designated securities" means all NMS stocks as defined in Rule 600(b)(47) of SEC Regulation NMS.
(3) "Member" means a broker or dealer admitted to FINRA membership.
(4) "Market Maker" means an "exchange market maker" or "OTC market maker," as those terms are defined in Rule 600(b) of SEC Regulation NMS, that is registered in a particular designated security as such with an exchange or a registered securities association or a facility thereof. A member is considered a Market Maker only in those designated securities for which it is registered as such.
(5) "Nasdaq" means the NASDAQ Stock Market, LLC and its facilities.
(6) "Normal market hours" means 9:30 a.m. Eastern Time to 4:00 p.m. Eastern Time.
(7) "Normal unit of trading" means 100 shares of a security unless, with respect to a particular security, FINRA determines that a normal unit of trading shall constitute other than 100 shares.
(8) "Otherwise than on an exchange" means a trade effected by a FINRA member otherwise than on or through the facilities of a national securities exchange. The determination of what constitutes a trade "on or through" a particular national securities exchange shall be determined by that exchange in accordance with all applicable statutes, rules and regulations, and with any necessary SEC approval.
(9) "Round lot holder" means a holder of a normal unit of trading.
(10) "Stop Stock Price" means the specified price at which a member and another party agree a Stop Stock Transaction shall be executed, and which price is based upon the prices at which the security is trading at the time the order is received by the member, taking into consideration that the specified price may deviate from the current market prices to factor in the size of the order and the number of shares available at those prices.
(11) "Stop Stock Transaction" means any transaction that meets both of the following conditions:
(A) the transaction is the result of an order in which a member and another party agree that the order will be executed at a Stop Stock Price or better; and
(B) the order is executed at the Stop Stock Price or better.
(12) "Trade Reporting Facility Participant" or "Participant" means any member in good standing that uses the FINRA/Nasdaq Trade Reporting Facility.
(13) Terms used in this Rule 6300A Series shall have the meaning as defined in FINRA By-Laws and rules, and Rule 600 of SEC Regulation NMS and the Joint Self-Regulatory Organization Plan Governing the Collection, Consolidation, and Dissemination of Quotation and Transaction Information for Nasdaq-Listed Securities Traded on Exchanges on an Unlisted Trading Privilege Basis, unless otherwise defined herein.
|Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Amended by SR-NASD-2006-104 eff. March 5, 2007.
Amended by SR-NASD-2006-087 eff. Aug. 1, 2006.
Adopted by SR-NASD-2005-087 eff. Aug. 1, 2006.
Selected Notice: 08-57.