*Letters

Proposed Rule Rescinding NYSE Rule 97

Published on:
February 27, 2008
Issue:
Committee:

SIFMA’s The Equity Markets and Trading Committee and the New York Stock Exchange (NYSE) Rule 97 Working Group provide comments to the Securities and Exchange Commission (SEC) on a proposed rule change relating to rescind NYSE Rule 97, Release No. 34-57236, File No. SR-NYSE-2008-03. Rule 97 addresses the limitation on member’s trading because of block positioning.  SIFMA fully supports the rescission of Rule 97, and agrees with NYSE’s view that Rule 97 no longer serves a useful purpose and may in fact hinder legitimate trading activity.

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