Rule 290. Defaulting Party May Deliver After "Buy-In" Notice

This rule is no longer applicable effective November 11, 2008.

A defaulting member or member organization (seller) who has received a "buy-in" notice, pursuant to Rule 282, or re-transmitted notice thereof, may deliver the securities to the initiating member or member organization (buyer) issuing such notice up to 3:00 p.m. ET. The defaulting member organization may deliver such securities after 3:00 p.m. ET on the "effective date" of the buy-in notice if: (i) agreed to by the initiating member organization, (ii) before the execution of the order and (iii) when the defaulting member organization has physical possession of the securities.