6160E. Obligation to Honor Trades
This rule is no longer applicable. NASD Rule 6160E has been superseded by FINRA Rule 7250B. Please consult the appropriate FINRA Rule.
If a Participant is reported by the System 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.
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Amended by SR-FINRA-2007-015 eff. Sep. 19, 2007. Adopted by SR-NASD-2007-011 eff. April 18, 2007. |