A 5675 - September 12, 2003

A#	5675
P&S #:	5245

DATE:	September 12, 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 AMEX Listed Comparison, OTC Comparison, Corporate Bond Comparison System, CNS Regular Way and When Issued Municipal Bond Comparison system, ACATS, ACATS Fund/Serv, RECAPS and Envelope Settlement services, as detailed below:

First Trade Date, September 10, 2003:

HSBC Brokerage (USA), Inc.                                                                                      No. 0816
Amex Alpha Identifier:                                                                                                         HBK
OTC Alpha Identifier:                                                                                                          HSBK
Envelope Location: Y (New York)

*For more information regarding OTC symbol "HSBK", please see page 3 of this notice

· The following firms will retire from all services, as detailed below:

Last Trade Date, September 11, 2003:

Intersecurities, Inc./World Group Securities                                                                  No. 0729
Bisys Fund Services, LP/Republic Funds                                                                      No. 5744
PFPC Distributors, Inc./Gamma Series Fund                                                                No. 6605
Van Kampen Funds, Inc./Morgan Stanley SICAV                                                        No. 4944
Gill & Company, LLC                                                                                                  No. 8331

· The following firm will begin participation in the Fund/Serv, Networking, Commission Settlement and Insurance Processing Services, as detailed below:

First Trade Date, September 12, 2003:

World Group Securities, Inc. No. 0729
Networking Code: TJ
Contact: Sushma Chada
Phone: (770) 248-3578

· The following firm will begin participation in the Commission Settlement services, as detailed below:

First Trade Date, September 15, 2003:

Richards, Merrill & Peterson, Inc. No. 8192

· An additional number has been assigned to BISYS Fund Services, LP (#5816) for the purpose of utilizing the Fund/Serv, Networking and Commission Settlement services, as detailed below:

First Trade Date, September 12, 2003:

BISYS Fund Services, LP/Morgan Stanley SICAV                                                      No. 4944
Networking Code:                                                                                                               YB
Contact: Scott Roseberry
Phone:    (614) 470-8862

· The following firm will begin participation in the ACATS Fund/Serv service, as detailed below:

First Trade Date, September 12, 2003:

Alps Distributors, Inc./Ameristock Mutual Funds No. 5455

· The following firm will change its name only, as detailed below:

Effective, First Trade Date, September 12, 2003:

From: SunAmerica Capital Services, Inc. No. 5596
To: AIG SunAmerica Capital Services, Inc. No. 5596

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

Last Trade Date, September 12, 2003:

Tradebridge, Inc./TPA No. 7134

· 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
Delete Last Trade Date, September 8, 2003:
Ewealth Securities, Inc.	BHCS	0632	FLPG
Geary & Geary	BHCS	0632	GEAR
Greenfield Capital Partners, LLC	BHCS	0632	GFLD
KJM Securities, Inc.	BHCS	0632	KJMS
	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Retirement Securities, Inc.	BHCS	0632	RTIR
Stock Depot, Inc.	BHCS	0632	SDPT
Stuart Stone & Company, Inc.	BHCS	0632	SSCL
Waterford Investor Services	BHCS	0632	WTRI

Delete Last Trade Date, September 9, 2003:
*HSBC Brokerage (USA), Inc.	PERS	0443	HSBK

Delete Last Trade Date, September 10, 2003:
Bench Mark Securities Group, Inc.	BHCS	0632	BSGI

Delete Last Trade Date, September 11, 2003:
Paragon Capital Markets, Inc.	BSSC	0352	PONG

Delete Last Trade Date, September 12, 2003:
Rowe & Company	SWST	0279	ROWE
Shochet Securities, Inc.	BNYC	0262	SHOC
Susquehanna Investment Group Trading	PRST	0551	SIGT
SK International Securities Corporation	DBAB	0573	SKIN
Stock USA Investor’s Club	CCLS	0265	SUIC
Track ECN	PFSI	0234	TRAK
Tribeca Investments, L.L.C	SBSH	0418	TRIB
Wofex Brokerage, Inc.	DBAB	0573	WOFX
Wolfe (S.J.) & Co.	MDLD	0799	WOLF

Add First Trade Date, September 15, 2003:
Berghoff & Company, Inc.	MSRO	0727	BEMC

Clearing Broker Change, Effective First Trade Date, September 11, 2003:
From: Gardnyr Michael Capital, Inc.	BHCS	0632	GMCI
To: Gardnyr Michael Capital, Inc.	SALI	0750	GMCI

Clearing Broker Change, Effective First Trade Date, September 17, 2003:
From: Seaboard Securities, Inc.	BNYC	0262	SEAB
To: Seaboard Securities, Inc.	WSPD	0030	SEAB

Executing Broker Name Change, Effective First Trade Date, September 11, 2003:
From: Patapsco Securities, Inc.	PERS	0443	CHDA
To: Chapin, Davis	PERS	0443	CHDA

· 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 8, 2003:
Goetz, Batchker & Company, Inc.	BHCS	0632	GOBK
North Woodward Financial Corporation	BHCS	0632	NWFC

Delete Last Trade Date, September 9, 2003:
SLS Securities Company	QRCC	0158	SLSS

Delete Last Trade Date, September 10, 2003:
Atlantis Investment Co., Inc.	PERS	0443	ATLN
M.R. Beal & Company	PERS	0443	BEAL

Delete Last Trade Date, September 12, 2003:
Maven Securities, Inc.	SWST	0279	MAVN
Melvin Securities, LLC	GLDS	0325	MELS
Millenium Trading Co.	PRST	0551	MILT
Terra Nova Trading. LLC	SWST	0279	MITU
Marketing One Securities, Inc.	RAGN	0733	MONE
Market Wise Securities, Inc.	PFSI	0234	MWTI
Omega Securities, Inc.	SWST	0279	OMGA
On-Site Trading, Inc.	PFSI	0234	ONST
Peterson Brothers Securities Co.	SWST	0279	PBRO
PFTC Trading, LLC	PXCO	0671	PFAT
Primex	BHCS	0632	PRMX
Pure Trading, Inc.	FOCC	0690	PURT
Quantum Day Trade, LLC	SWST	0279	QNTM
RMB And Associates, LP	PCAP	0608	RMBA
Gunn & Company, Inc.	SWST	0279	ROGN
Costa (S.C.) Co., Inc.	SWST	0279	SCCO
Sungard Institutional Brokerage, Inc.	BNYC	0262	SHDS
Sheehan (J.E.) & Co., Inc.	ASEL	0370	SHEE
Spear Leeds & Kellogg/Great Pacific	SILK	0501	SLGP
Revere Street Capital Management	SILK	0501	SLRV
Spear Leeds & Kellogg/S.A.C. Capital	SILK	0501	SLSA
S.R. Weltz Jr. & Company, LP	BNYC	0262	WELT
Read (WM.E.) & Co., Inc.	SWST	0279	WERC
Xanadu Partners, LLC	SILK	0501	ZNDU

Add First Trade Date, September 9, 2003:
Execution, LLC	PERS	0443	EXEC

	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Add First Trade Date, September 15, 2003:
White Cap Trading, LLC	SILK	0501	CAPS
Pax Clearing Corporation	PXCO	0671	PXCA

· 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 8, 2003:
Maine Securities Corp.	BHCS	0632	MSCB

Delete Last Trade Date, September 12, 2003:
Ludwig Investment Resources	SWST	0279	LIRC
Long Island Network Securities, Inc.	SBSH	0418	LNES
Martino & Co., Inc.	FOMA	0188	MACI
Conseco Securities, Inc.	NFSC	0226	MDSE
M&I Capital Corporation	PERS	0443	MICC
Terra Nova Trading, LLC	SWST	0279	MITV
Monness, Crespi, Hardt & Co., Inc.	DBAB	0573	MNNS
NCF Financial Services, Inc.	NFSC	0226	NFCC
1717 Capital Management Co.	PERS	0443	OSOS
Cripple Creek Securities, Inc.	SBSH	0418	PALL
Paradise Valley Securities	DBAB	0573	PARA
European Equity Partners, Inc.	FSWC	0309	PEAN
Principal Financial Securities, Inc.	BNYC	0262	PFIN
Princor Financial Services Corp.	PERS	0443	PFSC
Quinn Southwest	SWST	0279	QWIN
Reid & Gilmour	FACT	0312	RDGI
Reeves & Company	MSRO	0727	REVE
Reich & Co., Inc.	FAHN	0571	RICH
Salomon Brothers Inc.	SALB	0274	SBID
Hamilton-Shea Group, Inc.	SALI	0750	SHEA
Stock Index Futures	CIBC	0438	SIFC
Stellar Investments, Inc.	FSWC	0309	SINV
Sound Investment Services, Inc.	PFSI	0234	SISV
Smith, Mitchell & Associates, Inc.	RAGN	0733	SMLL
Sun Coast Capital Group, LTD	MSRO	0727	SUNC
TDI, Inc.	DAWA	0647	TDII
Townes & Company, Inc.	SWST	0279	TOJO
Tradition (N.A.) Inc.	DAWA	0647	TRAI
Titan/Value Equities Group, Inc.	PERS	0443	TVEG
	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Underwood, Neuhaus & Co, Incorporated	BNYC	0262	UNCO
Irwin Union Securities, Inc.	NFSC	0226	UNON
Weil (Christopher) & Company, Inc./Pembroke	MSRO	0727	WEIP
Weems & Company, Inc.	SWST	0279	WEMS
Western Federal Group	SWST	0279	WFCF
Western Bank	SWST	0279	WSTN
Wolfson, Zalkind & Co.	FACT	0312	WZAL

Add First Trade Date, September 10, 2003:
Peconic Securities, LLC	SILK	0501	PCON

Add First Trade Date, September 11, 2003:
JVB Financial Group	PERS	0443	JVBG

Clearing Broker Changes, Effective First Trade Date, September 11, 2003:
From: M.R. Beal & Company	PERS	0443	BEAL
To: M.R. Beal & Company	NFSC	0226	BEAL

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

Numeric

Numeric

Numeric

Numeric

Numeric

0632

0279

0418

0188

0226

0443

0279

0573

0226

0443

0418

0573

0309

0262

0443

0279

0312

0727

0571

0274

0750

0438

0309

0234

0733

0727

0647

0279

0647

0443

Numeric

0262

0226

0727

0279

0279

0279

0312

0501

0443

0443

0226