Proposed Rule Change to Revise the Effective Date of Amendments to NASD's Order Audit Trail System Rules

NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to establish February 4, 2008, as the effective date of the amendments to NASD Rules 6951, 6952, and 6955 that the Commission approved on October 10, 2006. The amendments expand the Order Audit Trail System ("OATS") reporting requirements to over-the-counter ("OTC") equity securities.