On June 27th, the SEC extended to November 30, 2011, the compliance date by which broker-dealers must comply with certain provisions of new Rule 15c3-5. The rule requires broker-dealers with access to trading securities directly on an exchange or alternative trading system to establish, document, and maintain a system of risk management controls and supervisory procedures that is reasonably designed to systematically limit the financial exposure of the broker-dealer that could arise as a result of market access, and ensure compliance with all regulatory requirements that are applicable in connection with market access. The compliance date is extended for all of the requirements of Rule 15c3-5 for fixed income securities. In addition, the requirements of Rule 15c3-5(c)(1)(i), which requires the risk management controls and supervisory procedures reasonably designed to prevent the entry of orders that exceed appropriate pre-set credit or capital thresholds, is extended for all securities. The compliance date remains July 14, 2011 for all provisions of Rule 15c3-5 not subject to this limited extension. SEC Release No. 34-64748. See also NYSE Information Memo 11-18.