6957. Effective Date

This rule is no longer applicable effective December 15, 2008.

The requirements of the Order Audit Trail System shall be effective in accordance with the following schedule:
(a) Clocks
The requirements of Rule 6953 shall be effective on August 7, 1998, for all computer system clocks and on July 1, 1999, for all mechanical clocks.
(b) Electronic Orders
With respect to electronic orders, the requirements of the Order Audit Trail System shall be effective on:
(1) March 1, 1999, for electronic orders received by Electronic Communications Networks and electronic orders received at the trading department of a member that is a market maker in the securities that are the subject of the orders, provided that market makers shall be required to report information item (18) specified in Rule 6954(b) only to the extent such item is available to the market maker and shall not be required to record and report information item (5) specified in Rule 6954(b) and information items (2)(A), (2)(B)(i), (3)(A), (4)(A), and (5)(A) specified in Rule 6954(c) with respect to such orders; and
(2) August 1, 1999, for all electronic orders, at which time all information items specified in Rules 6954(b), (c), and (d) shall be required to be recorded and reported with respect to such orders.
(c) Manual Orders
The requirements of the Order Audit Trail System shall be effective on July 10, 2006 for all manual orders, provided that firms shall be required to report information item (18) specified in Rule 6954(b) only to the extent such item is available to them.
(d) Rule 3110
The requirements of Rule 3110(h)(1)(A) and Rule 3110(h)(1)(B) shall be effective on March 1, 1999, and the requirements of Rule 3110(h)(1)(C) shall be effective 120 days after SEC approval of SR-NASD-00-23. The requirements of Rule 3110(h)(2) and Rule 3110(h)(3) shall be effective on March 1, 1999.
Amended by SR-NASD-2006-052 eff. July 10, 2006.
Amended by SR-NASD-2006-040 eff. July 10, 2006.
Amended by SR-NASD-2000-23 eff. July 10, 2006.
Amended by SR-NASD-2006-062 eff. May 15, 2006.
Amended by SR-NASD-2000-70 eff. Nov. 30, 2000.
Amended by SR-NASD-2000-53 eff. Aug. 31, 2000.
Amended by SR-NASD-2000-09 eff. March 9, 2000.
Amended by SR-NASD-98-38.
Adopted by SR-NASD-97-56.

Selected Notices: 98-33, 98-73, 05-78, 06-15, 06-17.