TO: All NASD Members and Other Interested Persons
FROM: Options Committee of the NASD Board of Governors
The June 19, 1987, expiration of index options and futures contracts, in addition to being a quarterly expiration, will be unique in that it will mark the first time that the settlement prices of the various stock indices will not be uniformly based on the closing price, of the
(a) Mandatory Member Participation
(1) Member participation in TRACE for trade reporting purposes is mandatory. Such mandatory participation obligates members to submit transaction reports in TRACE-Eligible Securities in conformity with the Rule 6700 Series.
(2) Participation in TRACE shall be conditioned upon the TRACE Participant's initial and continuing compliance with the following
(a) No member or person associated with a member shall:
(1) coordinate the prices (including quotations), trades or trade reports of such member with any other member or person associated with a member, or any other person;
(2) direct or request another member to alter a price (including a quotation); or
(3) engage, directly or indirectly, in any conduct that threatens, harasses, coerces,
I have been investing for over 20 years, mainly in common stocks but sometimes in so-called “complex products” like futures, options, leveraged and inverse ETPs, etc. I use them when I believe they are suitable tools for the market situation at that moment. I don’t mean that I always make right investment decisions but, as a retail investor, I find that it is very important for me to have the
As a former complex product supervisor for one of the largest broker-dealers in the nation and which is probably the highest producing structured product firm, I would like to make some comments on the practices employed by them and in the industry by general. First of all the process in getting an account approved for structured notes and options is largely a joke. Anyone from an 18 year old
Natural disasters can bring out the worst in some people, some of whom seek to exploit the situation to commit financial fraud. Learn how to spot and protect yourself from potential disaster-related investment scams.
Im writing to provide strong rebuke of FINRAs Regulatory Notice 22-08 and its attempt to limit investors/traders (I/Ts). What FINRA is proposing is tantamount to treating I/Ts like immature children. Its highly evident in the statement FINRA released: However, important regulatory concerns arise when investors trade complex products without understanding their unique characteristics and risks.
It has come to our attention that under the regulations being considered by FINRA I may not be able to buy leveraged and inverse funds like TQQQ, SQQQ and others. I would like yo urge you to NOT implement these regulations. These funds are important to my and my husbands investment strategies and restricting these funds will hurt both us and others we have encouraged over the years to use to
I oppose restrictions on my account to my right to invest in leveraged investments. They are important to my trading strategy.
(a) The term "Clearing Broker-Dealer" or "Clearing Broker" shall mean the member firm that has been identified in the System as principal for clearing and settling a trade, whether for its own account or for a correspondent firm.
(b) The term "Correspondent Executing Broker-Dealer" or "Correspondent Executing Broker" shall mean the member firm that has
