Regulatory Alerts2023-11-20 | Information Notice 11/20/23Added · Updated
FINRA Reminds Firms of Exercise Cut-Off Time for Options Expiring on the Friday After Thanksgiving
FINRA reminds firms that the exercise cut-off time for standardized equity options expiring on November 24, 2023, is 2:30 p.m. ET, rather than the usual 5:30 p.m. ET. This adjustment follows the national options exchanges' early closure at 1:00 p.m. ET on that day, triggering a modified deadline under FINRA Rule 2360(b)(23)(A)(viii). Option holders must submit any Contrary Exercise Advice by 2:30 p.m. ET to override automatic exercise procedures.
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