SR-NASD-2003-181

Proposed Rule Change To Expressly State NASD’s Authority to Suspend Quotations of ADF Market Participants

NASD has filed with the SEC a proposed rule change to amend Rule 4613A(c) to clarify that NASD may suspend quotations in NASD’s Alternative Display Facility ("ADF”) displayed by any market participant, including an electronic communication network ("ECN”), that are no longer reasonably related to the prevailing market.