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ARTICLE · 12 MARCH 2008

NYSE Rule 97 To Be Rescinded

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NYSE Regulation, Inc. has proposed to rescind NYSE rule 97. NYSE rule 97 has outlived its usefulness from a regulatory perspective and weakened the competitive position of the New York Stock Exchange.

United StatesFinance and Banking
Won Chang
Won Chang
Robert Frenchman
Robert Frenchman
Julian Rainero
Julian Rainero

NYSE Regulation, Inc. 1 (the "NYSE") has proposed to rescind NYSE rule 97 ("Limitation on Members' Trading Because of Block Positioning"). As discussed below, NYSE rule 97 has outlived its usefulness from a regulatory perspective and weakened the competitive position of the New York Stock Exchange. The NYSE filed the proposed rule change with the Securities and Exchange Commission (the "SEC") on January 11, 2008. 2

Effective Date

The SEC published the proposed rule change in the Federal Register soliciting comments from interested persons on February 6, 2008. Comments were due on February 27, 2008, within twenty-one (21) days from the publication of the notice.

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