The Securities and Exchange Commission has granted accelerated approval to the proposed rule change to reduce the order handling and exposure periods contained in International Securities Exchange (ISE) Rules 716 (Block Trades), 717 (Limitations on Orders), 723 (Price Improvement Mechanism for Crossing Transactions) and 811 (Directed Orders) from three seconds to one second. A summary of the proposed rule change was previously reported in the July 11, 2008 edition of Corporate and Financial Weekly Digest.

http://www.sec.gov/rules/sro/ise/2008/34-58224.pdf