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  • 05-03 NASD Provides Updated Options Exemption Listing

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    GUIDANCE

    Trading Activity Fee

    SUGGESTED ROUTING

    KEY TOPICS

    Legal & Compliance
    Operations Managers
    Senior Management

    Options Exemption
    Trading Activity Fee

    Discussion

    In 2003, the Securities and Exchange Commission (SEC) approved amendments to the NASD By-Laws establishing a Trading Activity Fee (TAF).1 Among the covered securities excluded from the TAF are transactions in exchange-listed options effected by a member for which NASD is not the designated options examining authority (DOEA). Attached is an updated list of broker-dealers, effective January 1, 2005, for which NASD is not the DOEA. All member firms, other than those listed in Attachment A, are assessed a TAF on transactions they effect in exchange-listed options. As changes are required, a revised list will be published in a future Notice to Members.

    Questions/Further Information

    Questions concerning this Notice should be directed to NASD Finance at (240) 386-5397, or the Office of General Counsel, Regulatory Policy and Oversight, at (202) 728-8071.

    2005 DOEA ALLOCATIONS — FIRMS NOT DESIGNATED TO NASD

    Firm ID SEC 8 - # MPID
    Firm Name City State
    7537 8-21897 ANOS ABEL NOSER CORP NEW YORK NY
    15776 8-32746 CHGO ABN AMRO INCORPORATED CHICAGO IL
    13071 8-23522 BKBS ADP CLEARING & OUTSOURCING SERVICES
    (Fleet securities)
    NEW YORK NY
    10 8-21409 ADVS ADVEST, INC. HARTFORD CT
    5835 8-16555 BCOM BAKER & CO., INCORPORATED CLEVELAND OH
    26091 8-42263 BOFA BANC OF AMERICA SECURITIES LLC CHARLOTTE NC
    17066 8-32954 BCHW BIRCHWOOD SECURITIES CORP. MEDFORD NJ
    35693 8-46838 ECUT BNY BROKERAGE INC. NEW YORK NY
    104487   BBHC BROWN BROTHERS HARIMAN NEW YORK NY
    630 8-18333 CIBC CIBC WORLD MARKETS CORP. NEW YORK NY
    1588 8-17103 DAVA DAVENPORT & COMPANY LLC RICHMOND VA
    115740 8-53521 DOYL DOYLE MILES & CO NEW YORK NY
    41957 8-49647 DRKW DRESDNER KLEINWORT WASSERSTEIN SECURITIES LLC NEW YORK NY
    25025 8-41354 ETRS E*TRADE CLEARING LLC NEW YORK NY
    1781 8-09952 FAGI FAGENSON & CO., INC. NEW YORK NY
    7784 8-23292 FIBS FIDELITY BROKERAGE SERVICES LLC BOSTON MA
    298 8-02018 FACT FIRST ALBANY CAPITAL INC. ALBANY NY
    361 8-00129 GSCO GOLDMAN, SACHS & CO. NEW YORK NY
    7536 8-32215 WELC H. G. WELLINGTON & CO., INC. NEW YORK NY
    16686 8-34344 GKMC HARRIS NESBITT GERARD, INC.- NEW YORK NY
    396 8-17737 HAZL HAZLETT, BURT & WATSON, INC. WHEELING WV
    22062 8-39382 BRUS HD BROUS & CO., INC. GREAT NECK NY
    867 8-02671 WDSB HELFANT GROUP, INC.
    (d/b/a JEFFERSON EXECUTION SERVICES)
    NEW YORK NY
    28872 8-43978 INGB ING FINANCIAL MARKETS NEW YORK NY
    473 8-17530 JOLE JOHNSTON, LEMON & CO. INCORPORATED WASHINGTON DC
    7720 8-23135 KBCO KAHN BROTHERS & CO. INC. NEW YORK NY
    505 8-17230 LTCO LADENBURG, THALMANN & CO., INC. NEW YORK NY
    566 8-30177 MDLD MCDONALD INVESTMENTS INC. CLEVELAND OH
    2764 8-28816 MSRO MESIROW FINANCIAL, INC. CHICAGO IL
    21520 8-41415 MDWD MIDWOOD SECURITIES, INC. NEW YORK NY
    47293 8-51750 MTCO MILLER TABAK NEW YORK NY
    4161 8-15001 MOKE MORGAN KEEGAN & COMPANY, INC. MEMPHIS TN
    2908 8-01068 NEUB NEUBERGER BERMAN, LLC NEW YORK NY
    14020 8-34354 SHMR O'CONNOR & COMPANY CHICAGO IL
    7671 8-22871 REND REYNDERS, GRAY & CO., INCORPORATED NEW YORK NY
    18377 8-24255 RBLT ROSENBLATT SECURITIES INC. NEW YORK NY
    8330 8-24971 SEAP SEAPORT SECURITIES CORP. NEW YORK NY
    3403 8-04024 SHRE SHUFRO, ROSE & CO., LLC NEW YORK NY
    6220 8-45123 SWST SOUTHWEST SECURITIES, INC. DALLAS TX
    3466 8-00526 SILK SPEAR, LEEDS & KELLOGG, L.P. NEW YORK NY
    3496 8-01927 SPHN STEPHENS INC. LITTLE ROCK AR
    791 8-11754 SALI STERNE, AGEE & LEACH, INC. BIRMINGHAM AL
    6670 8-17758 STOX STOCKCROSS FINANCIAL SERVICES, INC. BOSTON MA
    5133 8-15656 SPTW STRASBOURGER PEARSON NEW YORK NY
    6271 8-17212 STCM SUNTRUST CAPITAL MARKETS, INC. ATLANTA GA
    7870 8-23395 WATH TD WATERHOUSE INVESTOR SERVICES, INC. NEW YORK NY
    877 8-12987 WEDB WEDBUSH MORGAN SECURITIES INC. LOS ANGELES CA
    39310 8-48636 WEXS WEXFORD CLEARING SERVICES, LLC NEW YORK NY
    1252 8-02698 WBLR WILLIAM BLAIR & COMPANY L.L.C. CHICAGO IL
    8056 8-24126 YOSE YORK SECURITIES, INC. NEW YORK NY


    1 See SEC Order Approving Proposed Rule Change to Eliminate the Regulatory Fee and Institute a Transaction-Based Trading Activity Fee, Exchange Act Rel. No. 47946 (May 30, 2003), 68 FR 34021 (June 6, 2003) (SR-NASD-2002-148).