Proposed Rule Change to Extend the Effective Date of the Trading Pause Pilot

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 6121 (Trading Halts Due to Extraordinary Market Volatility) to extend the effective date of the single stock circuit breaker pilot program 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.