Nasdaq Equity Rule 11 (Series)

Key provisions:

• Standardized trade processing and settlement practices. Establishes uniform procedures that govern the operational handling of securities transactions to promote consistency, efficiency, and predictability across the marketplace.
• Trade clearance and settlement obligations. Addresses the rights, responsibilities, and remedies of market participants when issues arise in the settlement process, including failures to deliver securities or make payment.
• Operational guidance and dispute reduction. Authorizes Nasdaq to interpret and apply uniform market practices to help resolve uncertainties, reduce operational disputes, and facilitate day-to-day business activities.
• Transaction processing standards. Establishes conventions and procedures relating to trade documentation, settlement practices, and special trading situations to support orderly market operations.