SEC Grants Extension Of Time On Nasdaq's Exchange Registration Application

The Securities and Exchange Commission today announced that it has granted The Nasdaq Stock Market's request for an extension of time for the Commission to act on Nasdaq's application to register as a stock exchange, which was due to expire on November 14, 2001. Nasdaq requested an additional indefinite period of time in order to address the issues raised by the staff and in the 46 comment letters received to date. Annette L. Nazareth, Director of the Division of Market Regulation, stated: "Substantial progress has been made on the Nasdaq application. We are working closely with Nasdaq and hope to resolve the outstanding issues as expeditiously as possible."