SIFMA provides comments to the Securities and Exchange Commission (SEC) on an amended NASDAQ sponsored access rule proposal, File No. SR-NASDAQ-2008-104. In general, SIFMA with the proposed amendment, however member firms believe there is lack of clarity that creates confusion among firms and possibly self-regulatory organizations (SROs). We suggest this amendment would benefit from industry comment which would help to ensure the NASDAQ’s rules clearly target the types of access that need addressing and set froth appropriate compliance controls.