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Nasdaq Proposes Changes to Mutual Fund Quotation Service
Washington, DC, June 16, 2000 - The Nasdaq Stock Market, Inc. has filed with the Securities and Exchange Commission proposed amendments to the minimum listing requirements for inclusion and maintenance of open-end and closed-end funds in its Mutual Fund Quotation Service (MFQS). The amendments would lower both the initial and maintenance requirements for the inclusion of closed-end funds in the News Media List to $60 million and $30 million in net assets, respectively.
In addition, the proposal would amend the inclusion criteria for the Supplemental List with respect to both open-end and closed-end funds to add an alternative under which a fund would qualify if the investment management firm that manages the fund has at least one other fund listed on the MFQS that has $10 million in assets and the firm has at least $15 million from open-end, closed-end, and/or money market funds under management. Comments are due to the SEC on the proposed amendments by Monday, June 26, 2000.