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Technology Stocks : S3 (Multimedia semi's place 2be)
SIII 0.00010000.0%May 12 5:00 PM EST
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To: Phil Fischer who wrote (7754)2/5/1997 8:27:00 PM
From: Jacky AY   of 9477
 
Order limit rule phase-in for Nasdaq stocks slowed

WASHINGTON, Feb 5 (Reuter) - The Securities and Exchange Commission said Wednesday the phase-in schedule for Nasdaq securities trading under the new order limit rules will be more gradual allowing firms to make the necessary system changes.
SEC will phase in the next 50 Nasdaq securities on February 10 and another 50 securities on February 24, the regulatory agency said in a statement.
Both groups of stocks will be identified this week by Nasdaq, bringing to 150 the total number of stocks subject to the rules. SEC plans to monitor the operation and will develop a further schedule for securities not phased in as of February 24.
The commission had been phasing in the rules for Nasdaq stocks over an eight-month period. Under this schedule 50 stocks were subject to the rules as of January 20, while another 100 stocks were to have been added in on February 7.
Order handling rules were designed to reduce the minimum number of shares that dealers can quote when they are not displaying customer limit orders.

SIII was originally scheduled to be phased into the new rules on Feb. 7. Now it's either Feb 10 or 24. Anyone hoping new rules will help reducing MMs' ability to control stock price and hopefully bringing fair value to SIII stock will just have to wait a little longer...
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