51.   The bond futures markets were closed in May following a scandal involving several large brokerages that neglected margins and exceeded their maximum holding limits.

52.   The Pacific Exchange will become a full partner in Archipelago, along with several large brokerage firms, including Goldman Sachs and Merrill Lynch.

53.   The large brokerages such as Nomura and Yamaichi took care that the initial public offering price was not too high, as was the case in previous listings.