Proposed Rule Change to Delay the Implementation Date of IM 2210-4, Which Requires Certain Member Firms to Provide a Hyperlink to www.nasd.com

NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to delay, until October 31, 2007, implementation of an amendment to Interpretive Material 2210-4 ("IM 2210-4") that is scheduled to be implemented on July 7, 2007. The recent amendment to IM-2210-4 requires an NASD member referring to its NASD membership on its Web site to provide a hyperlink to the internet domain www.nasd.com.