Proposed Rule Change to Extend the Current Pilot Price-Improvement Standards for Decimalized Securities Contained in NASD Interpretive Material 2110-2

NASD has filed with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to extend through June 30, 2006, the current pilot price-improvement standards for decimalized securities contained in NASD Interpretive Material 2110-2 - Trading Ahead of Customer Limit Order ("Manning Rule" or "Manning").