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The Securities and Exchange Commission has approved Amex rules governing trading on
the Amex of Nasdaq National Market securities pursuant to unlisted trading privileges ("UTP") (Release No. 34-46305, August 2, 2002). Trading on the Floor in the first nine securities is expected to begin on Monday, August 12, 2002. This Information Circular is to inform members and member organizations of applicable new rules, the text of which are attached as Exhibit A to this Circular.
As a general matter, Amex rules applicable to trading in Amex-listed equities apply to
trading in Nasdaq securities. New Rule 118 (Trading in Nasdaq National Market Securities) is the primary rule governing Nasdaq UTP trading. In addition, the SEC has approved exceptions from application of certain Amex rules to accommodate Nasdaq UTP trading (see Commentary .01 to Rule 118). The attached PDF is a summary of significant rule changes adopted by the Exchange to accommodate the trading of Nasdaq stocks on the Amex.
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