MEMORANDUM

March 31, 2005

To:

Files-
Regulation NMS
File No. S7-10-04

From:

David Huntington
Office of the Chairman

Re:

Meeting with Nasdaq


The Chairman's staff met with a representative of Nasdaq on March 31, 2005 to review the company's comments on proposed Regulation NMS as discussed in its comment letter dated January 26, 2005.