A 5674 - September 5, 2003

A#	5674
P&S #:	5244

DATE:	September 5, 2003

TO:	ALL PARTICIPANTS

ATTENTION:	MANAGER, PURCHASES AND SALES DEPARTMENT; CASHIER; FUND/SERV PARTICIPANTS; ACATS PARTICIPANTS; MUNICIPAL BOND COMPARISON PARTICIPANTS

FROM:	Pablo Cubi, Associate Director, Membership Administration

SUBJECT:	CHANGES IN THE LIST OF PARTICIPANTS

· The following firm will begin participation in the Fund/Serv and Networking services, as detailed below:

First Trade Date, September 8, 2003:

The Bank of New York No. 0901

Networking Code: BN

Contact: Adonis Austria

Phone: (212) 635-7776

· The following firm will no longer participate in the OTC Comparison service, as detailed below:

Last Trade Date, September 12, 2003:

Gruss (Oscar) & Son Incorporated No. 0420

OTC Alpha Identifier: OGRU*

* For further information regarding “OGRU”, please refer to page 4 of this notice.

· Kindly update the NSCC Directory dated July 11, 2003 (for OTC Executed-By-List and Municipal Bond Comparison System) as detailed below:

	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Add First Trade Date, September 8, 2003:
Agency Trading Group, Inc.	NFSC	0226	ATGP

Clearing Broker Change, Effective First Trade Date, September 3, 2003:
From: Hoenig & Co., Inc.	PERS	0443	HOEN
To: Hoenig & Co., Inc.	JEFF	0019	HOEN

Clearing Broker Change, Effective First Trade Date, September 10, 2003:
From: Duncan & Williams, Inc.	BNYC	0262	DNWL
To: Duncan & Williams, Inc.	PERS	0443	DNWL

From: Dupont Securities Group, Inc.	BNYC	0262	DSGI
To: Dupont Securities Group, Inc.	PERS	0443	DSGI

From: First Empire Securities, Inc.	BNYC	0262	FESI
To: First Empire Securities, Inc.	PERS	0443	FESI

From: Fintegra LLC	BNYC	0262	FINT
To: Fintegra LLC	PERS	0443	FINT

From: Kenny Securities Corp.	BNYC	0262	KENY
To: Kenny Securities Corp.	PERS	0443	KENY

From: Lawson Financial Corporation	BNYC	0262	LWFL
To: Lawson Financial Corporation	PERS	0443	LWFL

From: Marsco Investment Corporation	BNYC	0262	MRSC
To: Marsco Investment Corporation	PERS	0443	MRSC

From: O’Brien & Shepard, Inc.	BNYC	0262	OBSH
To: O’Brien & Shepard, Inc.	PERS	0443	OBSH

From: Delta Equity Services Corp.	BNYC	0262	RAYG
To: Delta Equity Services Corp.	PERS	0443	RAYG

From: Strasbourger Pearson Tulcin Wolff, Incorporated	BNYC	0262	SPTW
To: Strasbourger Pearson Tulcin Wolff, Incorporated	PERS	0443	SPTW
	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
From: Syndicated Capital, Inc.	BNYC	0262	SYCA
To: Syndicated Capital, Inc.	PERS	0443	SYCA

From: Walton Johnson & Company	BNYC	0262	WJCO
To: Walton Johnson & Company	PERS	0443	WJCO

Clearing Broker Change, Effective First Trade Date, September 17, 2003:
From: SF Sentry Securities, Inc.	PWJC	0221	SFSS
To: SF Sentry Securities, Inc.	BSSC	0352	SFSS

Clearing Broker Change and Executing Broker Name Change, Effective First Trade Date, September 10, 2003:
From: Carl P. Sherr and Company	BNYC	0262	SHRR
To: Carl P. Sherr & Co., LLC	PERS	0443	SHRR

Executing Broker Name Change, Effective First Trade Date, September 4, 2003:
From: Queen City Investment Funds, Inc.	PFSI	0234	GOLF
To: Essex & York, Inc.	PFSI	0234	GOLF

From: Butterfield (Jack V) Investment		0235	JVBF
To: Jack V. Butterfield Investment Company		0235	JVBF

· Kindly update the NSCC Directory dated July 11, 2003 (for OTC Executed-By List) as detailed below:

	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Delete Last Trade Date, September 9, 2003:
Bondhub.Com	BNYC	0262	BHUB

Add First Trade Date, September 3, 2003:
Nandra Group, Inc.	SILK	0501	NANG

Add First Trade Date, September 4, 2003:
Equitas America, LLC	BSSC	0352	EQUA

	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Add First Trade Date, September 5, 2003:
Mako Financial Markets LLC	SILK	0501	MFML
Bear Stearns Securities Corp./Order Execution Services	BSSC	0352	OESO

Add First Trade Date, September 8, 2003:
D.R. Saul & Co., Inc.	LFSJ	0215	VISR

Add First Trade Date, September 15, 2003:
*Gruss (Oscar) & Son Incorporated	JEFF	0019	OGRU

Clearing Broker Change, Effective First Trade Date, September 10, 2003:
From: Advanced Equities, Inc.	BNYC	0262	ADVA
To: Advanced Equities, Inc.	PERS	0443	ADVA

From: Atlantis Investment Co., Inc.	BNYC	0262	ATLN
To: Atlantis Investment Co., Inc.	PERS	0443	ATLN

From: Beach Securities Corporation	BNYC	0262	BEAH
To: Beach Securities Corporation	PERS	0443	BEAH

From: Okoboji Financial Services, Inc.	BNYC	0262	BOJI
To: Okoboji Financial Services, Inc.	PERS	0443	BOJI

From: Brimberg & Co.	BNYC	0262	BRIM
To: Brimberg & Co.	PERS	0443	BRIM

From: Earlybirdcapital, Inc.	BNYC	0262	EBRD
To: Earlybirdcapital, Inc.	PERS	0443	EBRD

From: Further Lane Securities, LP	BNYC	0262	FARS
To: Further Lane Securities, LP	PERS	0443	FARS

From: First Investors Corp.	BNYC	0262	FIRT
To: First Investors Corp.	PERS	0443	FIRT

From: Troy Financial Investment Services Group, Inc.	BNYC	0262	FMIN
To: Troy Financial Investment Services Group, Inc.	PERS	0443	FMIN

From: Joseph Stevens & Company, Inc.	BNYC	0262	JSLP
To: Joseph Stevens & Company, Inc.	PERS	0443	JSLP


	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
From: JVB Financial Group	BNYC	0262	JVBG
To: JVB Financial Group	PERS	0443	JVBG

From: Kepley & Co., Inc.	BNYC	0262	KPLY
To: Kepley & Co., Incorporated	PERS	0443	KPLY

From: NBGI Securities, Inc.	BNYC	0262	NBGI
To: NBGI Securities, Inc.	PERS	0443	NBGI

From: Hunter Securities Corp.	BNYC	0262	STLZ
To: Hunter Securities Corp.	PERS	0443	STLZ

From: The Concord Equity Group, LLC	BNYC	0262	TCEG
To: The Concord Equity Group, LLC	PERS	0443	TCEG

From: William Scott & Company LLC	BNYC	0262	WILS
To: William Scott & Company LLC	PERS	0443	WILS

Clearing Broker Change and Executing Broker Name Change, Effective First Trade Date, September 10, 2003:
From: Prestige Status Inc.	BNYC	0262	PSTG
To: Prestige Financial Center, Inc.	PERS	0443	PSTG

Executing Broker Name Change, Effective First Trade Date, September 4, 2003:
From: The Street Direct, LLC	SILK	0501	STRE
To: Dahlman Rose Weiss, LLC	SILK	0501	STRE

· Kindly update the NSCC Directory dated July 11, 2003 (for Municipal Bond Comparison List) as detailed below:

	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Delete Last Trade Date, September 4, 2003:
Patrick, Lawrence & Associates Inc.	NFSC	0226	PTLE

	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Add First Trade Date, September 10, 2003:
ARKA Securities, Inc.	PERS	0443	ARKA
Bondhub, Inc.	PERS	0443	BHUB
CUSO Financial Services, LP	PERS	0443	CUSO
Earlybirdcapital, Inc.	PERS	0443	EBRD
William Scott & Company LLC	PERS	0443	WILS

Clearing Broker Changes, Effective First Trade Date, September 10, 2003:
From: Carlin Equities Corp.	BNYC	0262	CLYN
To: Carlin Equities Corp.	PERS	0443	CLYN

From: Fixed Income Capital Partners	BNYC	0262	FICP
To: Fixed Income Capital Partners	PERS	0443	FICP

From: TGH Securities, Inc.	BNYC	0262	TGHS
To: TGH Securities, Inc.	PERS	0443	TGHS

If you have any questions regarding this notice, please contact Frank DeRiso at (212) 855-4941 or Miriam Santiago at (212) 855-4947.

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