11361. Units of Delivery — Stocks
(a) Stock certificates delivered in settlement of contracts:
(1) in which the transaction is for 100 shares may be in one certificate for the exact number of shares or certificates totaling 100 shares.
(2) in which the transaction is greater than 100 shares and a multiple of 100 shall be in the exact amount of the contract, or in multiples of 100 shares, or in amounts from which units of 100 shares can be made, or a combination thereof equaling the amount of the contract.
(3) in which the transaction is for more than 100 shares but not in a multiple of 100 shall be in multiples of 100 shares, or in amounts from which units of 100 shares can be made, or a combination thereof, plus either the exact amount for the odd lot or smaller amounts equaling the odd lot.
(4) in which the transaction is for less than 100 shares shall be in the exact amount of the contract or for smaller units aggregating the amount of the contract.
(b) Uniform Delivery Ticket
A properly executed Uniform Delivery Ticket must accompany the delivery of securities.*
* Specifications for use of the Uniform Delivery Ticket are contained in the Final Report of the Banking and Securities Industry Committee entitled "Four Uniform Forms" dated December 22, 1971.
| Amended by SR-FINRA-2010-030 eff. Dec. 15, 2010. Amended eff. July 8, 1968, Dec. 1, 1972. Selected Notice: 10-49. |