SR-NASD-2003-157

Permanent Approval of Fees for the Trade Reporting and Compliance Engine (TRACE)

NASD has filed with the SEC a proposed rule change to amend NASD Rule 7010(k) relating to fees for the Trade Reporting and Compliance Engine (“TRACE”), and is seeking permanent approval of the TRACE fee structure prior to the expiration of the pilot program for fees on January 31, 2004.