The Commission is amending its rules to delegate authority to the Director of the Division of Market Regulation to provide exemptive relief pursuant to the recently adopted Limit Order Display Rule (Rule 11Ac1- 4(d)), and to delegate authority to delay the effective dates or compliance dates for any aspect of the implementation or operation of the Limit Order Display Rule or the recent amendments to the Quote Rule (Rule 11Ac1-1). This delegation will help to expedite and enhance the orderly implementation of the recently adopted Limited Order Display Rule and the amendments to the Quote Rule.