SR-NASD-2007-031

Proposed Rule Change to Amend NASD Rule 7001E to Increase Percentage of Market Data Revenue Shared with NASD/NYSE TRF Participants

NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") this proposed rule change to amend NASD Rule 7001E (Securities Transaction Credit) to increase to 100% the percentage of New York Stock Exchange ("Tape A"), American Stock Exchange ("Tape B") and Nasdaq Exchange ("Tape C") revenue shared with NASD members reporting trades to the NASD/NYSE Trade Reporting Facility (the "NASD/NYSE TRF").