TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On November 5, 1986, the United States District Court for the Eastern District of New York, appointed the Securities Investor Protection Corporation (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, November 18, 1986, 21 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/NMS to 2,658. These 21 issues, which will begin trading under real-time trade reporting, are entering NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary designation.

The 21 issues scheduled to join NASDAQ/NMS on Tuesday, November 18, 1986, are:

TO: All NASD Members and Other Interested Persons

The following is a list of NASD Notices to Members issued during the third quarter of 1986. 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. 20006-1506.

TO: All NASD Members and Other Interested Persons

EXECUTIVE SUMMARY

TO: All NASD Members and Other Interested Persons

ATTN: Direct Participation Programs Department

EXECUTIVE SUMMARY

TO: All NASD Members and Other Interested Persons

Listed below is the NASD's 1987 schedule of holidays.

IMPORTANT MAIL VOTE

OFFICERS, PARTNERS AND PROPRIETORS

TO: All NASD Members

LAST VOTING DATE IS DECEMBER 31, 1986.

EXECUTIVE SUMMARY

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

On Tuesday, December 2, 1986, 30 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/NMS to 2,687. These 30 issues, which will begin trading under real-time trade reporting, are entering NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary designation.

The 30 issues scheduled to join NASDAQ/NMS on Tuesday, December 2, 1986, are:

TO: All NASD Members and Other Interested Persons

LAST DATE FOR COMMENT: JANUARY 5, 1987.

EXECUTIVE SUMMARY

The NASD requests comments on proposed amendments to Article II, Sections 3, 4 and 5 of the NASD By-Laws. The amendments would require controlling persons of a firm liquidated under the Securities Investor Protection Act of 1970 (SIPA) to undergo eligibility proceedings pursuant to the NASD Code of Procedure prior to becoming associated, or continuing in association, with an NASD member firm.

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

On Tuesday, December 16, 1986, 26 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/NMS to 2,709. These 26 issues, which will begin trading under real-time trade reporting, are entering NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary designation.

The 26 issues scheduled to join NASDAQ/NMS on Tuesday, December 16, 1986, are: