Tuesday, August 1, 2006

NASDAQ Becomes Operational as a National Securities Exchange

The Nasdaq Stock Market, Inc. has become operational as an exchange in NASDAQ-listed securities, effective today. NASDAQ plans to become operational as an exchange in other exchange-listed securities on October 1, 2006.

One important effect of this event is that issuers who are listed on NASDAQ and and registered under the Securities Exchange Act of 1934 or the Investment Company Act of 1940 have become registered under Section 12(b) of the Exchange Act.

The SEC has granted those companies that were exempt from registration under the Exchange Act a temporary three-year continuation of the exemption, until August 1, 2009, to allow these companies to become registered under Section 12(b).
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