Design policies and procedures that will enable your firm to monitor the national best bid on a realtime basis, the SEC says in the final uptick rule published in the March 10 Federal Register. That’s the only way to ensure that the price at which you submit a short sale order complies with the rule. And

it’s the minimum a firm will be required to have.

That’s just one of the details to keep in mind as you come up with the written policies and procedures the SEC is requiring by Nov. 10, 2010.