STA Favors NASD-NYSE Consolidation Plan

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28 November 2006

STA FAVORS NASD-NYSE CONSOLIDATION PLAN

(New York: November 28, 2006) John Giesea, President and CEO of the Security Traders Association issued the following statement for publication on the NASD-NYSE consolidation announced today:

“The consolidation of member regulation operations and the development of a new private SRO is a positive development for the U.S. capital markets. It will secure a cost effective and efficient regulatory environment for market participants.

“Further, it will aid in straightforward regulation for the U.S. capital markets, even as the markets evolve worldwide. This private sector initiative will increase U.S. competitiveness, reinforce confidence in the U.S. markets, and ensure investor protection.”

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About The STA

The STA is a worldwide professional trade organization that works to improve the ethics, business standards and working environment for our members. There are approximately 6,000 members, all engaged in the buying, selling, and trading of securities. Members participate in STA through 28 national and international affiliate organizations and represent the interests of the trading community and institutional investors. The STA provides a forum for our traders, representing institutions, broker-dealers, ECNs, and floor brokers to share their unique perspectives on issues facing the securities markets. They work together to promote their shared interest in efficient, liquid markets as well as in investor protection.