The US Securities and Exchange Commission has approved proposed changes to the NASD’s rules that will reflect the registration of the Nasdaq Stock Market LLC as a national securities exchange.

Among the rules approved is the NASD’s proposal to establish The Trade Reporting Facility LLC, which is jointly owned by the NASD and the publicly traded parent company of the Nasdaq Stock Market LLC. It will operate the NASD facility for reporting over-the-counter trades in Nasdaq securities.

The commission also issued an order modifying the conditions for the operation of the Nasdaq Stock Market as a national securities exchange. The order enables Nasdaq to begin operating as an exchange in Nasdaq-listed securities separately from other exchange-listed securities, pending the completion of the necessary conditions set forth in the original order granting exchange registration.

Separately, the SEC says it intends to act soon on Nasdaq’s proposal to create a single pool of liquidity by integrating the operations of the Nasdaq Market Center with Nasdaq’s Brut and INET facilities.