The Clearing Firms and Local Firms Committees and the Ad Hoc Clearing Subcommittee of the Securities Industry Association (SIA)* provide comments to the Securities and Exchange Commission (SEC) on proposed amendments to New York Stock Exchange, Inc. (NYSE) Rule 382 relating to clearing broker/dealers (CBs), Release No. 34-39, 200, File No. SR-NYSE 97-25. SIA offers its observations and recommendations on the proposed amendments and believe that certain provisions require clarification.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.