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To: Nanchate who wrote (1400)	5/27/1999 4:37:00 PM
From: Nanchate	Read Replies (1) of 4443

Nasdaq Approves Longer Hours Proposal NEW YORK (Reuters) - The parent company of the Nasdaq, the nation's second-largest stock market, said Thursday its board approved a proposal to work on setting up a late trading session four days a week. The National Association of Securities Dealers (NASD), the parent of the Nasdaq and the American Stock Exchange, said such a session would run from 5:30 p.m. Eastern time to 9 p.m. or 10 p.m. Monday through Thursday. Tuesday, NASD president Richard Ketchum told a group of Nasdaq brokerage firms that a late session, if approved, would likely start around Labor Day, according to a person at the meeting. The move comes as Wall Street stock markets and electronic trading systems compete to capture the wave of stock market orders placed over the Internet after the closing bell. The New York Stock Exchange and several trading networks have said they are also examining the possibility of a late session. The proposal still needs to be approved by the U.S. Securities and Exchange Commission. NASD chairman Frank Zarb will give details later at a press conference in New York to be held at 3:45 p.m. (1745 GMT). Reut15:20 05-27-99

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