Comments Requested on Published FINRA-Proposed Rule Change Relating to Options Exercise Practices (Fed. Reg.)

The FINRA proposal relating to options exercise procedures was published in the Federal Register and is effective immediately.

The proposed amendments to FINRA Rule 2360 ("Options") relate to expiring standardized equity options procedures. The amendment will harmonize the 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.

While the rule change was deemed noncontroversial by the SEC and, therefore, is effective immediately, comments on the rule change will be accepted until July 23, 2014.

See: 79 FR 37822.Related news: FINRA Proposes Rule Change regarding Options Exercise Procedures (June 17, 2014).