SR-NASD-2006-120

Proposed Rule Change to Extend the Hours of Operations of the NASD/Nasdaq TRF, the OTC Reporting Facility and the Trade Reporting of Non-Nasdaq Exchange-Listed Securities under the Rule 6400 Series

NASD is filing with the Securities and Exchange Commission (''SEC'' or ''Commission'') a proposed rule change to extend the hours of operation of (1) the Trade Reporting Facility established by NASD and the Nasdaq Stock Market, Inc. (the ''NASD/Nasdaq TRF''); (2) the trade reporting of non-Nasdaq exchange-listed securities under the Rule 6400 Series; and (3) the trade reporting of OTC Equity Securities to the OTC Reporting Facility (''ORF'') under the Rule 6600 Series, until 8:00 p.m. Eastern Time (ET).