Proposed Rule Change to Extend the Pilot Period of Amendments to FINRA Rule 11892 Governing Clearly Erroneous Transactions

Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend FINRA Rule 11892 (Clearly Erroneous Transactions in Exchange- Listed Securities) to extend the effective date of the pilot, which is currently scheduled to expire on April 11, 2011 until the earlier of August 11, 2011 or the date on which a limit up / down mechanism to address extraordinary market volatility, if adopted, applies to the pilot securities.