Rule 12f-2

Extending Unlisted Trading Privileges to a Security that is the Subject of an Initial Public Offering

a. General provision. A national securities exchange may extend unlisted trading privileges to a subject security when at least one transaction in the subject security has been effected on the national securities exchange upon which the security is listed and the transaction has been reported pursuant to an effective transaction reporting plan, as defined in § 242.600 of this chapter.

b. The extension of unlisted trading privileges pursuant to this section shall be subject to all the provisions set forth in Section 12(f) of the Act, as amended, and any rule or regulation promulgated thereunder, or which may be promulgated thereunder while the extension is in effect.

c. Definition. For the purposes of this section:

1. The term subject security shall mean a security that is the subject of an initial public offering, as that term is defined in section 12(f)(1)(G)(i) of the Act, and

2. An initial public offering commences at such time as is described in Section 12(f)(1)(G)(ii) of the Act.