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SEC COMMISSION OPINION
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EXTRACTED KEY WORDS
PLAN EXCHANGE ACT COMMISSION PROPOSED AMENDMENT NASDAQ MARKET NASD SECURITIES STOCK EXCHANGE REVIEW ITSOC OPERATING COMMITTEE ADF MEMBERS DISCRETION DOCKET INTERMARKET TRADING QUOTATION APPEALS APPLICANTS TRADE-THROUGH RULE NATIONAL ASSOCIATION SECURITIES DEALERS FACILITY TRADE DISMISS SEPARATE PARTICIPATION DRAFT PROVISIONS |
Securities and Exchange Commission
Washington, D.C.
Securities Exchange Act of 1934
Rel. No. 48573 / September 30, 2003
Admin. Proc. File No. 3-10772
_________________________________________________________________
In the Matter of the Application of the
NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
and
NASDAQ STOCK MARKET, INC.
for Review of Action by the
OPERATING COMMITTEE OF THE INTERMARKET TRADING SYSTEM
_________________________________________________________________
OPINION OF THE COMMISSION
THE OPERATING COMMITTEE OF THE INTERMARKET TRADING SYSTEM -- REVIEW OF
NATIONAL MARKET SYSTEM PLAN ACTION UNDER RULE 11Aa3-2(e) OF THE
SECURITIES EXCHANGE ACT OF 1934.
Review of Plan Actions
The Operating Committee of the Intermarket Trading System ("ITS")
rejected Applicants' proposed Amendment No. 20 to the ITS Plan
seeking, among other things, to obtain the Nasdaq's admission to the
ITS and to exempt certain of their members from the ITS trade-through
rule. Applicants filed with the Commission an application for review.
Held, the Commission determines not to exercise its discretion to
consider the issues raised and the relief sought in the application
for review in an adjudicatory proceeding. The application for review
is dismissed.
APPEARANCES
, for the National Association of Securities Dealers, Inc.
, for the Nasdaq Stock Market, Inc.
, for the Chicago Stock Exchange, Inc.
SNIPPETS:
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