FINRA Proposes Rule Change Regarding Options Exercise Procedures

FINRA filed a proposed rule change with the SEC to amend FINRA Rule 2360 ("Options") regarding procedures for expiring standardized equity options to harmonize its rules with those of the Options Clearing Corporation and other options exchanges. Specifically, the rule would change the expiration date for most standardized options contracts to the third Friday of the expiration month instead of the Saturday following the third Friday.

See: Text of Proposed Rule Change.