Notice to Members 04-28

SEC Approves Amendments to Repeal Rule 4613A(e)(1) Requiring Same-Priced Quotations on Multiple Markets

Effective Date: March 12, 2004

On March 12, 2004, the Securities and Exchange Commission (SEC) approved amendments to repeal Rule 4613A(e)(1), which requires members that display priced quotations for a Nasdaq Stock Market, Inc. (NASDAQ) security on multiple market centers to display the same-priced quotations on each market center.1 Rule 4613A, as amended, is set forth in Attachment A. The amendments are effective as of March 12, 2004.

Questions regarding this Notice may be directed to Grace Yeh, Office of General Counsel, NASD Regulatory Policy and Oversight, at (202) 728-6939.