SR-NASD-2006-003

NASD is Filing Notice to Members 06-03, Which Provides Guidance Regarding the Application of New Rule 2111 Prohibiting Members from Trading Ahead of Customer Market Orders Under Certain Circumstances

NASD has filed with the Securities and Exchange Commission ("SEC" or "Commission") Notice to Members ("NTM") 06-03, which provides guidance regarding the application of new Rule 2111 prohibiting members from trading ahead of customer market orders under certain circumstances.