Beginning July 11, the Financial Industry Regulatory Authority will begin phasing in the expansion of the Order Audit Trail System (OATS) rules to include orders for all national market system (NMS) stocks. This will effectively extend the OATS recording and reporting requirements to NMS stocks listed on markets other than the National Association of Securities Dealers Automated Quotations (e.g., New York Stock Exchange, NYSE Amex and NYSE Arca). The expansion of the OATS rules will be accomplished in three phases based on the symbol of the security on July 11, July 18 and July 25. FINRA will announce at a later time the details of which security symbols will be subject to OATS reporting during each phase.