The National Association of Securities Dealers, Inc. (NASD), the New York Stock Exchange LLC (NYSE) and the American Stock Exchange LLC (AMEX) filed with the Securities and Exchange Commission proposed rule changes to increase the frequency of the short interest reporting requirements from monthly to twice per month.

NASD Rule 3360 requires members to report short positions as of the close of the settlement date designated by the NASD and that the data be received by the NASD no later than the second business day following such date. The NASD makes the aggregate short interest data publicly available. The effective date of the proposed rule change will be six months following the SEC’s approval of the proposed rule change.

NYSE Rule 421 requires the member organizations to submit to the NYSE reports with respect to short positions in securities, covering such time period as may be designated by the NYSE. The NYSE makes the total short interest in each individual stock and warrant traded on the NYSE publicly available. The effective date of the proposed rule change will be six months following the SEC’s approval of the proposed rule change.

AMEX currently requires members to maintain a record of total short positions in all customer and proprietary firm accounts in equity securities and to regularly report such information in the manner authorized by AMEX Rule 30 and described in the AMEX Minor Rule Violation Fine Systems (AMEX Rule 590, Par 3), AMEX Information Circulars and an Intermarket Surveillance Group Regulatory Memorandum. The proposed amendment would incorporate the short interest reporting requirements into new AMEX Rule 30A. AMEX makes the total short interest in each equity and equity-type security traded on AMEX publicly available. The effective date of the proposed rule change will be six months following the SEC’s approval of the proposed rule change.

NASD, NYSE and AMEX believe that increasing the frequency of short interest reporting will provide additional and more timely information to public investors and other interested parties related to short selling.

http://sec.gov/rules/sro/nasd/2007/34-55170.pdf