Proposed Rule Change to Delay the Implementation Date of FINRA Rule 5350 (Stop Orders)

FINRA has filed with the SEC a proposed rule change to delay the implementation date of FINRA Rule 5350 ("Stop Orders"), as approved in SR-FINRA-2012-026, until March 4, 2013. New FINRA Rule 5350, which replaces old FINRA Rule 6140(h), permits firms to offer order types that are similar to “stop orders” but have different triggers. The delay was requested to provide members additional time to finalize standard order nomenclature and order messaging standards.

See: Text of Proposed Rule Change (links externally to FINRA website).