SEC Approves FINRA Rule Regarding Participation on the Alternative Display Facility

The SEC approved a rule change to amend FINRA Rule 6271 ("Registration as an ADF Market Maker or ADF ECN") and Rule 6272 ("Character of Quotations") regarding requirements for members seeking registration as FINRA Alternative Display Facility ("ADF") Market Participants. The SEC approved FINRA's rule proposal to consolidate FINRA Rule 6272 into Rule 6271 and combine the existing requirements that a member must meet to register as an ADF Market Participant. Additionally, the new rule introduces requirements that potential ADF Market Participants must meet to participate on the ADF.

See: SEC Approval of Proposed Rule.Related news: FINRA Proposed Rule Change Regarding ADF Capacity Management Plan (January 3, 2014); FINRA Files Proposed Rule Change to Update Rules Governing ADF (December 20, 2013); FINRA Proposes Rule Regarding New Entrant to Alternative Display Facility (December 3, 2013).