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Weekly Bulletin New York Stock Exchange

VIEWS: 174 PAGES: 5

									                                                 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.
membership@pacificex.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 (mking@pacificex.com).
                                                    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

								
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