McKay Comment Letter #3 on Nasdaq NY11-4 Facility: Nasdaq expansion to NY11-4 prior to equalization is a violation of the Exchange Act, is a burden on competition, and unfairly discriminates between different customers.

McKay Comment Letter #2 on Nasdaq NY11-4 Facility: Nasdaq operation of NY11 and NY11-4 ‘differently’ requires a rule change and explanation. Nasdaq’s NY11 ‘Equalization Project’ should be completed before expansion to NY11-4.