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

The Securities and Exchange Commission has approved amendments to Schedule D of the Association's By-Laws with respect to the rules which permit the aggregation or "bunching" of orders in NASDAQ National Market System securities into a single transaction report.

TO: All NASD Members and Other Interested Persons

IMPORTANT

PLEASE DIRECT THIS NOTICE TO ALL FINANCIAL AND OPERATIONAL OFFICERS AND PARTNERS

TO: All NASD Members and Other Interested Persons

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

With the 32 issues joining the NASDAQ/National Market System on Tuesday, September 18, 1984, there will be 1,078 securities trading under real-time trade reporting. These 32 issues meet the SEC's voluntary designation criteria.

The 32 securities scheduled to be phased into NASDAQ/NMS on September 18 are:

TO: All NASD Members and Municipal Securities Bank Dealers

ATTN: All Operations Personnel

Transactions made on Monday, October 8, Columbus Day; Tuesday, November 6, Election Day; and Monday, November 12, 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

On September 7, 1984, the Securities and Exchange Commission ("Commission" or "SEC") approved amendments to the Association's Code of Arbitration Procedure. These rule changes will be effective on October 1, 1984. A summary of the major provisions and the text of the rule changes follows.

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

Another 34 issues are scheduled to join the NASDAQ National Market System on Tuesday, October 18, making the total issues in NASDAQ/NMS 1,105. These 34 securities, which will begin trading under real-time trade reporting, meet the Securities and Exchange Commission's criteria for voluntary designation.

The 34 issues scheduled to join NASDAQ/NMS on, Tuesday, October 16 are:

TO: All NASD Members and Other Interested Persons

Attention: Direct Participation Programs Department

COMMENTS MUST BE RECEIVED BY NOVEMBER 8, 1984

TO: All NASD Members and Other Interested Persons

Following is a list of NASD Notices to Members issued during the third quarter of 1984. Requests for copies of any notice should be accompanied by a self-addressed label and may be directed to: NASD Administrative Services, 1735 K Street, N.W., Washington, D.C. 20006.

I M P O R T A N T

Officers * Partners * Proprietors

TO: All NASD Members