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| | BSE Rulemaking: Release No. 34-45791 (Notice of Filing of Proposed Rule Change and Amendment No. 1 Thereto by the ... |
 | | The Exchange proposes to amend certain sections of its rules related to Competing Specialists (as defined in BSE Rules, Chapter XV, Dealer Specialists, Section 18, Procedures for Competing Specialists) and the execution of directed agency orders. |
 | | Because there is only one Exchange market in a security subject to competition, all limit orders sent to the Exchange will be maintained by the BEACON System's central limit book and will be executed strictly according to time priority as to receipt of the order in the BEACON System, irrespective of firm order routing procedures. |
 | | Accordingly, the Exchange seeks to amend portions of its Competing Specialist Initiative Rules (see BSE Rules, Chapter XV, Dealer Specialists, Section 18, Procedures for Competing Specialists) to allow, under certain conditions, for the altering of priority of specialist/competing specialist principal quotations when orders are directed by a customer to another specialist/competing specialist. |
| www.sec.gov /rules/sro/34-45791.htm (1602 words) |
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