SR-NASD-2007-020

Proposed Rule Change to Revise the Implementation Date of Previously Proposed Amendments to NASD Rules 4632(f) and 6130(e)

NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to revise the implementation date of certain amendments to the NASD/Nasdaq Trade Reporting Facility (the "NASD/Nasdaq TRF") rules that were previously proposed by NASD pursuant to SR-NASD-2007-002. Specifically, NASD is proposing to implement the amendments to Rule 4632(f) and Rule 6130(e) regarding aggregation of trades for purposes of reporting to the NASD/Nasdaq TRF on the Regulation NMS Trading Phase Date, March 5, 2007.