February 11, 2002
Notice No. NMS-10

SWITCH OF STATUS

Gerard Cunningham (JERR-4455) from a full member to an Equity Holder.


TRANSFER OF SOLE MEMBERSHIP

Rami Weisfisch


TERMINATION OF AFFILIATION

Gerard Murphy (MRPH-7075) terminated his affiliation with Amerex Trading
Inc., but remains a member guaranteed by SMW Trading Co, Inc.

*          *          *

            Members and Member Firms have (10) days from the date of this
notice to advise the Membership department of any claims against any of the
aforementioned member(s) and or member firm(s)

            Inquiries regarding the above should be addressed to the Member
Services Department at 212-299-2378.