5000. TRADING OTHERWISE THAN ON AN EXCHANGE

Members are required to report transactions in exchange-listed securities effected otherwise than on or through a national securities exchange to NASD. For purposes of the 5000 Series, "otherwise than on an exchange" means a trade effected by an NASD member otherwise than on or through 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.