To Establish Effective Date of Debt Securities Reporting and Dissemination Rules (Rule 6200 Series)

NASD Regulation, Inc., has filed with the SEC a proposed rule change to establish July 1, 2002 as the effective date for the new Rule 6200 Series ("TRACE Rules"). The TRACE Rules, when effective, will require NASD members to report secondary market transactions in eligible debt securities to the NASD and will subject certain transaction information to dissemination. The NASD also is proposing to replace the term "Trade Reporting and Comparison Entry Service" with "Trade Reporting and Compliance Engine." This change preserves the "TRACE" acronym by which the system is commonly known while more accurately describing the functions of the TRACE system.