compliance date
(7) Deferral of linked and coordinated clearing (A) Notwithstanding paragraph (2), until the compliance date, a national securities exchange or national securities association registered pursuant to section 78 o –3(a) of this title may trade a security futures product that does not— (i) conform with any listing standard promulgated to meet the requirement specified in subparagraph (E) of paragraph (3); or (ii) meet the criterion specified in section 2(a)(1)(D)(i)(IV) of the Commodity Exchange Act [ 7 U.S.C. 2(a)(1)(D)(i)(IV) ]. (B) The Commission and the Commodity Futures Trading Commission shall jointly publish in the Federal Register a notice of the compliance date no later than 165 days before the compliance date. (C) For purposes of this paragraph, the term “compliance date” means the later of— (i) 180 days after the end of the first full calendar month period in which the average aggregate comparable share volume for all security futures products based on single equity securities traded on all national securities exchanges, any national securities associations registered pursuant to section 78o–3(a) of this title , and all other persons equals or exceeds 10 percent of the average aggregate comparable share volume of options on single equity securities traded on all national securities exchanges and any national securities associations registered pursuant to section 78o–3(a) of this title ; or (ii) 2 years after the date on which trading in any security futures product commences under this chapter.