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6160A. Obligation to Honor Trades

This rule is no longer applicable. NASD Rule 6160A has been superseded by FINRA Rule 7150. Please consult the appropriate FINRA Rule.

If a TRACS trade comparison Participant is reported by TRACS as a party to a trade that has been treated as locked-in and sent to DTCC, notwithstanding any other agreement to the contrary, that party shall be obligated to act as a principal to the trade and shall honor such trade on the scheduled settlement date.
Adopted by SR-NASD-2002-97 eff. July 29, 2002.

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