NASDAQ has filed a proposal to establish a new equity and index options market named the NASDAQ Options Market (NOM). NOM would be operated by a wholly owned subsidiary and “facility” of NASDAQ and, as such, NASDAQ would have regulatory responsibility for the activities of NOM. Membership in NASDAQ would be a prerequisite to participation in NOM options trading. NASDAQ submitted a separate rule proposal in April to establish rules relating to listing, membership and trading on NOM (SR-NASDAQ-2007-004). NASDAQ anticipates launching NOM in December.