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Monday, July 23, 2007

Equity Regulatory Alert #2007 - 75
Change in OATS Requirements for NASDAQ-only Firms

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

What you need to know:

  • Effective immediately, NASDAQ-only firms that are not members of NASD and do not have non broker-dealer customers will be allowed to record OATS data, retain it and provide it on request.
  • These firms will not be required to submit OATS data to NASD on a daily basis.
  • Firms that are members of both NASDAQ and NASD MUST continue to submit OATS data in the same way that they currently do.

Who you should contact: NASDAQ Market Sales at 800.846.0477

What is the new rule?
The Securities and Exchanges Commission (SEC) has approved a new rule, effective immediately, to allow certain firms to record OATS data, retain it and provide it on request. These firms will no longer be required to submit OATS data to NASD on a daily basis as all other NASD and current NASDAQ®-only members must do.

Who does this new rule apply to?
This new rule only applies to firms that are NASDAQ-only members, are not members of NASD and do not have non broker-dealer customers. Any firms that are members of both NASDAQ and NASD MUST continue to submit OATS data in the same way they do today.

Where can I get additional information?

  • Rule filing SR-NASDAQ 2007-037 and Amendments 1 and 2
  • NASD OATS website
  • NASD OATS Helpdesk at 800.321.NASD
  • NASDAQ Market Sales at 800.846.0477


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