A#	5723
P&S #:	5293
DATE:	December 1, 2003
TO:	ALL PARTICIPANTS
ATTENTION:	MANAGER, PURCHASES AND SALES DEPARTMENT; CASHIER; FUND/SERV PARTICIPANTS; ACATS PARTICIPANTS; MUNICIPAL BOND COMPARISON PARTICIPANTS
FROM:	Pablo Cubi, Membership Administration
SUBJECT:	CHANGES IN THE LIST OF PARTICIPANTS - REVISED

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REMINDER

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

Last Trade Date, November 24, 2003:

BNY Clearing Services, LLC                                                                                       No.  0262

Pershing, LLC (#0443) will assume all open contracts of BNY Clearing Services, LLC (#0262), which are to be cleared or settled through or by National Securities Clearing Corporation.

Note: Please direct all inquiries regarding the above to:

Pershing, LLC (#0443)

Contact Name: Martin Donaldson

Phone:              (201) 413-2191

E-Mail Address: mdonaldson@pershing.com

BNY Clearing Services, LLC (#0262)

Contact Name: Ray Maratea

Phone:              (414) 225-4880

E-Mail Address: rmaratea@bnyclearing.com

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

Last Trade Date, November 28, 2003:

*BNY Clearing Services, LLC/International Services Division                                       No.  0384

*For more information regarding #0384 please see page 2 of this notice.

·         An Additional Number has been assigned to Pershing, LLC (#0443) for the purpose of utilizing the Listed Comparison Service, OTC Comparison Service, Envelope Settlement Service, CNS Regular Way and When Issued Municipal Bond Comparison Service, Corporate Bonds, ACATS, ACATS Fund/Serv, Fund /Serv and Networking Services, as detailed below:

First Trade Date, December 1, 2003:

Pershing, LLC/International Services Division                                                                No.  *0384

Listed Alpha Identifier:                                                                                                         BHF

OTC Alpha Identifier:                                                                                                          BHFS

Networking Code:                                                                                                               BQ

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

Last Trade Date, December 4, 2003:

Bridge Trading & Co. Inc.                                                                                            No.  0293

Listed Symbol:                                                                                                                     BGT

·        The following firms will begin participation in the Commission Settlement service, as detailed below:

First Trade Date, November 26, 2003:

Diamond Hill Securities Inc.                                                                                          No.  4953

First Trade Date, November 28, 2003:

SEI Investments Distribution Company/PBHG Funds                                                    No.  5750

First Trade Date, December 1, 2003:

Sun Trust Securities, Inc.                                                                                              No.  0153  

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

First Trade Date, November 28 , 2003:

U.S. Bank N.A.                                                                                                           No.  2803

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

Last Trade Date, November 25, 2003:

Legent Clearing Corp.                                                                                                  No.  0052

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

Effective First Trade Date, November 26, 2003:

From:  Cantor Fitzgerald & Co./Partners                                                                      No.  0464

To:      Cantor Fitzgerald / Clearspeed                                                                          No.  0464

·               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, November 28, 2003:
Kent King Securities Co., Inc.	ABNA	0425	KKGR
Vie Institutional Services, Inc.	MLCO	0161	VIEI
Add First Trade Date, November 25, 2003:
Penson Financial Services, Inc.	PFSI	0234	PFND
Add First Trade Date, November 26, 2003:
Winter Park Securities Inc.	QRCC	0158	WPSI
Add First Trade Date, November 28, 2003:
Quest Capital Strategies, Inc.	QRCC	0158	QUEC
Clearing Broker Change, Effective First Trade Date, December 1, 2003:
From:  Pritchard Capital Partners, LLC	BOFA	0773	TPCP
To:      Pritchard Capital Partners, LLC	JEFF	0019	TPCP
Clearing Broker Change, Effective First Trade Date, December 3, 2003:
From:  Caris & Company, Inc.	PWJC	0221	CRIS
To:      Caris & Company, Inc.	NFSC	0226	CRIS
From:  Florida Atlantic Securities Corp.	PWJC	0221	FLAT
To:      Florida Atlantic Securities Corp.	NFSC	0226	FLAT
From:  Garrett Nagle & Co., Inc.	PWJC	0221	GARR
To:      Garrett Nagle & Co., Inc.	NFSC	0226	GARR
From:  Intercapital Securities LLC	PWJC	0221	ICPS
To:      Intercapital Securities LLC	NFSC	0226	ICPS
From:  Kaufman Bros., L.P.	PWJC	0221	KBRO
To:      Kaufman Bros., L.P.	NFSC	0226	KBRO
From:  MDB Capital Group, LLC	PWJC	0221	MDBC
To:      MDB Capital Group, LLC	NFSC	0226	MDBC
From:  Leeb Brokerage Securities, Inc.	PWJC	0221	PRVN
To:      Leeb Brokerage Securities, Inc.	NFSC	0226	PRVN
	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
From:  Punk, Ziegel & Company, LP	PWJC	0221	PUNK
To:      Punk, Ziegel & Company, LP	NFSC	0226	PUNK
From:  Neovest Trading	PWJC	0221	VOLM
To:      Neovest Trading	NFSC	0226	VOLM
From:  Westfield Bakerink Brozak, LLC	PWJC	0221	WBBC
To:      Westfield Bakerink Brozak, LLC	NFSC	0226	WBBC
Executing Broker Name Change, Effective First Trade Date, November 28, 2003:
From:  RCM Saratoga	WSPD	0030	SART
To:      Saratoga Capital Markets	WSPD	0030	SART
From:  Were (J.B.), Inc.	BHCS	0632	WERE
To:      Goldman Sachs JBWere Inc.	BHCS	0632	WERE

·                    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, November 24, 2003:
Westor Online Inc.	PFSI	0234	WESX
Delete Last Trade Date, November 26, 2003:
Financial Links, Inc.	PFSI	0234	FLNK
Delete Last Trade Date, November 28, 2003:
Lipper Convertibles, L.P.	PRST	0551	LPCO
Clearing Broker Change, Effective First Trade Date, December 3, 2003:
From:  Melvin Securities, LLC	PWJC	0221	MLVN
To:      Melvin Securities, LLC	NFSC	0226	MLVN
	Clearing Broker Identifiers		Executing Broker Identifiers
	Alpha	Numeric	Alpha	Numeric
Clearing Broker Change, Effective First Trade Date, December 5, 2003:
From:  Bridge Trading Company	DBAB	0573	BRDG
To:      Bridge Trading Company	MLCO	0161	BRDG
Executing Broker Name Change, Effective First Trade Date, November 28, 2003:
From:  Performance Capital Group, LLC	SILK	0501	PERF
To:      Kellogg Capital Group, LLC	SILK	0501	PERF

NOTE:   NYFIX Transaction Services, Inc. (“NYFT”) will not be changing their clearing arrangement on December 4, 2003.  NYFT will continue to clear through SILK (#0501).

·                    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
Add First Trade Date, December 3, 2003:
Melvin Securities, LLC	NFSC	0226	MLVN

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