VIEWS: 174 PAGES: 5 POSTED ON: 10/30/2012
Weekly Bulletin January 30, 2004 WB-04-05 The Constitution and Rules of the Pacific Exchange (“Exchange”), in certain specific instances, require the Exchange to provide notice to the membership. To satisfy this requirement, a complimentary copy of the Weekly Bulletin, including Regulatory Bulletins, is provided to all individual members and nominees of member organizations on a weekly basis. SPECIAL NOTICE Hard Copy Subscription – PCX Weekly Bulletin PCX Board of Governors Report All individuals and firms that elect receipt of the PCX Weekly Bulletin in a hard copy format will be billed an annual subscription The PCX Board of Governors met this past week and rate of $200 to recover publication and distribution costs. Recipients approved the following rule and rate changes: of the electronic version will not incur a fee. PCX Equities MEMBERSHIP QUOTATION (As of 8:00 a.m. January 30, 2004) Add processing capabilities to Post No Preference (PNP) orders submitted to ArcaEx to prevent locking or crossing the NBBO. Bid $30,000 Offer $50,200 Permit a waiver of examination requirements for individuals applying for Equity Trading Permits (ETPs). Last Negotiated Sale $30,000 on 01/22/04 Last Consummated Sale $25,500 on 01/28/04 Options Amend PCX Rule 6.62 to a new order type, Ratio Orders. SEAT SALES Amend PCX Rule 1.26 to update registration requirements for employees of member firms. Date Buyer Seller Price Extend the pilot program for linkage fees through July 31, 2004. Negotiated Sales* Amend the Schedule of Fees and Charges to cancel the Volume 01/22/04 Van E. Hart MAKO Global Derivatives $30,000 Discount Program. Establish bid-ask spread differentials that are no more than $0.50 Consummated Sales* wide for options on stocks and ETFs that trade with a bid price below 01/28/04 Charles W. Kieser Crowell, Weedon & Co. $25,500 $2.00 under certain circumstances. 01/27/04 Van E. Hart MAKO Global Derivatives $30,000 Amend the Schedule of Fees and Charges to adopt a temporary 01/22/04 Mark W. Krommenhoek Jeffrey DuBowy $27,500 waiver of Market Maker fees for Market Makers utilizing more than *(Prearranged sales not included in Exchange last sale reporting data.) one seat. SEAT MARKET HOURS 6:30 a.m. – 3:00 p.m. (Pacific Time) Current market quotations on memberships may be obtained by calling (415) 393-5937. Pursuant to Exchange Rules, all Members and ETP Holders are January 30, 2004 reminded to promptly report business, home and mailing address changes, telephone number changes, and e-mail address changes PCX EQUITIES APPLICANT POSTINGS to the Membership Department at (415) 393-4114 or Bluefin Research Partners, Inc. email@example.com. Dresdner Kleinwort Wasserstein Securities, LLC Geronimo Partners, LLC NEW MEMBERS AND MEMBER ORGANIZATIONS International Correspondent Trading, Inc. 01/26 – BROOME, TODD A. – Nominee and Options Market Maker for ANOVA CAPITAL, LLC through execution of Lease Agreement Total ETP Holders 425 01/29 – WILLIAMS, ROSS B. – Nominee and Options Lead Market Total MM/ETP Holders 11 Maker and Floor Broker for KNIGHT FINANCIAL PRODUCTS, LLC through execution of Lease Agreement MEMBERS NOTICES IN THIS ISSUE TERMINATED MEMBERS AND MEMBER FIRMS 01/16 – GORDON, LEE – Nominee and Options Lead Market Maker ML-04-02:Results of the 2004 Annual Meeting ................................. 3 for GROUP ONE TRADING, LP through termination of Lease Agreement 01/22 – DUBOWY, JEFFREY – Inactive Lessor, Individual through REGUL ATORY BULLETINS IN THIS ISSUE sale of Membership RB 04-03: Instructions for Filing Subordinated Loan or MEMBERSHIP POSTINGS Secured Demand Note Agreements ("Agreements") and The following applicants have applied for membership on the Exchange Related Documents ....................................................................... 5 and are being posted for a period of three days, in which time interested members may submit written comments with respect to the qualifications REPORTS DUE TO THE EXCHANGE of the applicants. Admission to membership of applicants will become effective after the applicants have been cleared and approved for Focus Report Due Dates – SEC Rules 17a-5(a) & 17a-10 membership, in accordance with the policies of the Exchange. FOCUS Reports must be filed with and received by the PCX BROWN (JOHN W.) – Nominee, Floor Broker and Market Maker for Financial & Operational Compliance Dept. on or before the following M.J.T. SECURITIES, LLC due dates: Continued … PEAK6 CAPITAL MANAGEMENT, LLC – Broker-Dealer Member Firm 115 Sansome Street, San Francisco, CA 94104 2 Pacific Exchange Weekly Bulletin January 30, 2004 Monthly FOCUS Reports are required from all ArcaEx Market 2004 SIPC ASSESSMENT Makers, Order Service Firms and PCX Lead Market Makers: The Exchange is responsible for collecting an annual assessment from January 2004 Monthly FOCUS Report its DEA Members on behalf of the Securities Investor Protection Due: February 24, 2004 Corporation (“SIPC”). All DEA Members are required to pay an annual SIPC fee of $150.00 by January 31, 2004. The 2004 SIPC Assessment Quarterly FOCUS Reports are required from all Clearing Members will appear in December 2003 Invoices. DEA Members should pay their and DEA Members subject to the SEC Net Capital Rule invoice in full and on time in order to meet the SIPC Assessment due 1st Quarter 2004 FOCUS Report date. See RB-03-06 for details. Due: April 26, 2004 Annual FOCUS Reports are required from DEA Members exempt All Members and ETP Holders are reminded to submit FOCUS Reports, from the SEC Net Capital Rule: Annual Audited Financial Statements, Material Change Forms, Financial Arrangement Disclosures, and SIPC payments to the following address: 2003 Annual FOCUS Report Due: March 1, 2004 Pacific Exchange, Inc. FOCUS Schedule I and Annual Compliance Acknowledgement Form Financial & Operational Compliance Department th for all DEA Members are due with 2003 year-end FOCUS filing. 115 Sansome Street, 9 Floor San Francisco, CA 94104 Annual Audited Financial Statements – SEC Rule 17a-5(d) Tel # (415) 835-4899 • Fax # (415) 391-0360 Member Firms are reminded to file their Annual Reports with the PCX Financial & Operational Compliance Dept. by the following due dates: Member Firms with FYE November 31, 2003 ........... January 29, 2004 Member Firms with FYE January 31, 2004.................. March 31, 2004 If you have general questions about this Bulletin or would like to receive it via email, please call (415)393-4153, or send your name and email address to Mike King (firstname.lastname@example.org). 115 Sansome Street, San Francisco, CA 94104 Pacific Exchange Weekly Bulletin ♦ January 30, 2004 3 NOTICE TO MEMBERS SUBJECT: Results of the 2004 Annual Meeting DATE: January 28, 2004 NUMBER: ML-04-02 At the Annual Meeting of Members of the Pacific Exchange, Inc., held on January 22, 2004, in San Francisco, the following election results were announced. The Plan to Demutualize the Pacific Exchange The plan to demutualize the Pacific Exchange received 443 votes in favor and 51 votes against. Governor– Class of 2007 Tony F. DiStefano Chief Executive Officer For Public Governor Arrival Communications, Inc. Sean H. Gallacher Market Maker For Floor Governor A. K. Limited Partnership Matthew B. Gelber Senior Vice President For Allied Governor Fidelity Capital Markets, a Division of National Financial Services, LLC Brian C. Gentile Public, For Public Governor Wesley G. McCain Senior Managing Director For Public Governor New York Life Investment Management, LLC Gerald D. Putnam Chief Executive Officer For Allied Member Archipelago Securities, LLC Hans R. Stoll Professor of Finance and Director For Public Governor Vanderbilt University In addition, the following individuals will continue to serve on the Board: Philip D. DeFeo Chairman and Chief Executive Officer Pacific Exchange, Inc. Terry Brookshire Director Petrolphysics, Inc. George C. Hammond Partner LeBoeuf, Lamb, Greene & MacRae, LLP William A. Hasler Co-Chief Executive Officer Aphton Corporation David R. Hultman Vice President D.A. Davidson & Co., Inc. Lynn A. Keck President and Chief Executive Officer Keck Securities Howard J. Krongard Of Counsel Freshfields Bruckhaus Deringer, Herbert C. Kurlan Managing Member MDNH Partners, LP Don J. McGrath President and Chief Executive Officer Bank of the West 115 Sansome Street, San Francisco, CA 94104 4 Pacific Exchange Weekly Bulletin January 30, 2004 Lawrence M. Motola Senior Managing Director Bear Stearns & Co., Inc. J. Steven Noonan Managing Member Noonan Trading LLC. Stephen C. Richards Chief Operating Officer and Chief Financial Officer Network Associates, Inc. Robert H. Smith Robert H. Smith Investment & Consulting Peter A. Santoro, Jr. President Knight Financial Products Karim H. Tahawi Managing Partner Pacific Research & Trading LLC 2004 Vice Chair – Elect Herbert C. Kurlan MDNH Partners, LP Those elected to serve on the 2004 Nominating Committee and the number of votes received are as follows: Ali Saadatnezhadi – Chair (408) Clarksdale Capital Partners, LP Kevin L. Nichols – Vice Chai (399) Timber Hill, LLC Kurt M. Ekert (390) Wolverine Trading, LLC Glenn H. Gsell (398) Public Mark W. Krommenhoek (387) Knight Financial Products, LLC Guy K. Leung (339) Eureka Options, LLC Louis A. Napoli (357) Napoli Options Martin H. Resch (301) Inactive Lessor Bartev J. Vartanian (294) Group One Trading, LP 115 Sansome Street, San Francisco, CA 94104 Regulatory Bulletin Pacific Exchange Weekly Bulletin ♦ January 30, 2004 5 January 30, 2004 5 RB-04-03 January 21, 2004 TO: All DEA Members, Member Organizations and ETP Holders FROM: Financial & Operational Compliance Department RE: Instructions for Filing Subordinated Loan or Secured Demand Note Agreements ("Agreements") and Related Documents This Regulatory Information Bulletin serves to advise DEA Members, Member Organizations and ETP Holders of the proper procedure for submitting Subordinated Loan or Secured Demand Note Agreements to the Exchange. Agreements must be submitted through the Financial & Operational Compliance Department of the Exchange. Approval by the Exchange requires compliance with each of the following instructions: 1. The Agreement must be on the printed form provided by the Exchange. The Agreement must be signed and bear either the corporate seal or the seal of a notary public. The Agreement must be submitted to the Exchange in three copies, each of which must bear original, true signatures of both the borrower and the lender. If the lender is a corporation, the Agreement must bear the corporate seal. The signature(s) of all other lenders must be notarized. 2. All Agreements must be received by the Exchange at least ten (10) days prior to their proposed effective date. 3. All Agreements must be approved by an Officer of the Exchange (Vice President or above). 4. Upon approval, the Exchange will return two copies of the Agreement to the borrower. One copy is to be retained by the borrower and one copy forwarded to the lender. These copies will indicate Exchange approval for the benefit of auditors and others. Questions regarding the approval of Subordinated Loans and Secured Demand Notes can be directed to Frank Troutman, Managing Director, Financial & Operational Compliance Department, at (415) 393-4135. 115 Sansome Street, San Francisco, CA 94104
"Weekly Bulletin New York Stock Exchange"