A 4817 - August 20, 1998
P&S 4381

TO: COMMISSION SETTLING MEMBERS

ATTENTION:  MANAGER, PURCHASES AND SALES DEPARTMENT

SUBJECT: AMEX COMMISSION BILL PROCESSING FOR SEPTEMBER 1998

Input schedule for August, 1998 commission bills processed in September, 1998.

• Payees submit commission bills with a commission credit ticket to the payer no later than September 4, 1998.
• Payers submit automated commission bill data vs AMEX’s Intraday Comparison System (IDC) no later than 5:00 p.m., September 10, 1998.

Settlement - August, 1998 AMEX commission bills will settle September 15, 1998.

• Clearing Member’s commission bill debit and credit charges are included in the September 15, 1998 settlement.
• Non-Clearing Members - a check for the credit commission position will be prepared and distributed to you through the distribution boxes at 111 Greenwich Street by 1:00 p.m., September 15, 1998.
• Non-Clearing members will deposit checks for commission debit positions into the Commission Bill Box located on the wall at 111 Greenwich Street by 1:00 p.m., September 15, 1998. Please make check payable to National Securities Clearing Corporation.

Output Reports

• Clearing Members - a commission bill settlement and the debit and credit detail listing (Copy No. 2) will be available for pick-up at SIAC, 55 Water Street, Central Delivery Window, September 14, 1998.
• Non-Clearing Members - a commission bill settlement statement and the debit and credit detail listing (Copy No. 2) will be put in the distribution boxes at 11 Greenwich Street, September 14, 1998.

SIAC will process and settle commission input data for the Clearing Corporation only if both parties are on the list of Commission Settling Members. The additions and deletions listed below should be used to update your list of commission members dated July 8, 1998.

Any question with regard to the aforementioned should be directed to the attention of William Reilly at 212-412-8620.

Jan Meola
Director, Membership