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Tuesday, August 7, 2007

Equity Regulatory Alert #2007 - 82
NASDAQ to Discontinue Regulation SHO Pilot List on Thursday, October 4, 2007

Please Route To: Head Traders; Technical Contacts; Compliance Officers

What you need to know:

  • As announced in Regulatory Alert #2007-067, The Securities and Exchange Commission (SEC) has eliminated Rule 10a-1 as well as any short sale price test of any self-regulatory organization (SRO), e.g., the NASDAQ Rule 3350 “bid” test.
  • To assist firms with compliance, NASDAQ added all NASDAQ-listed securities to the Regulation SHO Pilot List and maintained the list on line.
  • To further accommodate firms, NASDAQ, will continue to maintain the list for the Reg SHO price test until October 4, 2007.

Who you should contact: NASDAQ Market Sales at 800.846.0477

What is changing?
As announced in Regulatory Alert #2007-067, The SEC eliminated the Rule 10a-1 price test (the “Tick” test) as well as any short sale price test of any self-regulatory organization (SRO), e.g., the NASDAQ Rule 3350 “bid” test.

To assist firms with compliance, NASDAQ® added all NASDAQ-listed securities to the Regulation SHO Pilot List and maintained the list online.

To further accommodate firms, NASDAQ will continue to maintain the list for the Reg SHO price test until October 4, 2007, at which time, the list will no longer be posted or updated on NASDAQTrader.com.

Where can I get additional information?


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