ATTENTION: MANAGING PARTNER/OFFICER, CASHIER, MANAGER REORGANIZATION DEPARTMENT,

The Securities and Exchange Commission has approved a rule filing that will permit NSCC to make temporary modifications to its rules in connection with Buy-In executions.

The full text of the rule change may be obtained at NSCC’s website, www.nscc.com, or by contacting the NSCC Legal Department at (212) 855-3207.  Written comments on the proposed rule filing may be addressed to Lisa T. Siebold, Assistant Secretary, National Securities Clearing Corporation, 55 Water Street, New York, New York 10041, and your comments will be forwarded to the SEC.  You may also address your written comments to the Secretary of the Commission, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, D.C. 20549.  We request that you provide NSCC with a copy of your comments.  

Operational questions should be directed to your Relationship Manager or to Kevin Brennan, Director of Operations at (212) 855-1608. Questions regarding the rule filing should be directed to Merrie Faye Witkin, Vice President and Senior Counsel, at (212) 855-3208.

Karen L. Saperstein
Managing Director and Secretary