TO: All NASD Members and Other Interested Persons

In a recent letter to the NASD (see the enclosure), the Securities and Exchange Commission's Division of Market Regulation expressed concern that certain brokers and dealers may have entered into agreements with their clearing entities that violate the provisions of the Commission's hypothecation rules (8c-l and 15c2-l). These rules are designed, among other things, to prevent brokers or dealers from commingling customers' and firm securities to collateralize the same loan.

TO: All NASD Members and Level 2 and Level 3 Subscribers

On Tuesday, September 17, 1985, 21 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/ NMS to 2,118. These 21 issues, which will begin trading under real-time trade reporting, are entering the NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary designation.

The 21 issues scheduled to join NASDAQ/NMS on Tuesday, September 17, 1985, are:

TO: All NASD Members and Municipal Securities Bank Dealers

FROM: All Operations Personnel

Transactions made on Monday, October 14, Columbus Day; Tuesday, November 5, Election Day; and Monday, November 11, Veterans Day, and the days immediately preceding these days, will be subject to the schedule below. The purpose of this schedule is to provide uniformity since, while the NASDAQ System and other securities markets will be open on these days, many banking institutions will be closed.

Trade Date-Settlement Date Schedule For "Regular-Way" Transactions

TO: All NASD Members and Level 2 and Level 3 Subscribers

On Tuesday, October 1, 1985, 31 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/NMS to 2,143. These 31 issues, which will begin trading under real-time trade reporting, are entering the NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary designation.

The 31 issues scheduled to join NASDAQ/NMS on Tuesday, October 1, 1985, are:

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On September 30, 1985, the United States District Court for the Southern District of Florida, Miami Division, appointed a SIPC Trustee for the above-captioned firm.

Members may use the "immediate close-out" procedures as provided in Section 59(1) of the NASD's Uniform Practice Code to close out open OTC contracts. Also, MSRB Rule G-12 (h)(iii) provides that members may use the above procedures to close out transactions in municipal securities.

TO: All NASD Members and Other Interested Persons

The following is a list of NASD Notices to Members issued during the second and third quarters of 1985. Requests for copies of any notice should be accompanied by a self-addressed mailing label and directed to: NASD Administrative Services, 1735 K Street, N.W., Washington, D. C. 20006.

TO: All NASD Members

ATTN: Operations Officer, Cashier Fail-Control Department

On October 4, 1985, the United States District Court for the Southern District of Florida, Miami Division, appointed a SIPC Trustee for the above-captioned firm.

Members may use the "immediate close-out" procedures as provided in Section 59(i)(2) of the NASD's Uniform Practice Code to close out open OTC contracts. Also, MSRB Rule G-12(h)(iii) provides that members may use the above procedures to close out transactions in municipal securities.

TO: All NASD Members and Level 2 and Level 3 Subscribers

On Tuesday, October 15, 1985, 14 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/ NMS to 2,149. These 14 issues, which will begin trading under real-time trade reporting, are entering the NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary designation.

The 14 issues scheduled to join NASDAQ/NMS on Tuesday, October 15, 1985, are:

TO: All NASD Members and Other Interested Persons

ATTN: Direct Participation Programs Department

LAST DATE FOR COMMENT: NOVEMBER 21, 1985

TO: All NASD Members and Municipal Securities Bank Dealers

In Notice to Members 85-63, dated September 23, 1985, members were advised that Tuesday, November 5, Election Day, and Monday, November 11, Veterans Day, would not be considered business days since many banking institutions would be closed.