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NDAQ » Topics » Note L-Member credits

This excerpt taken from the NDAQ 8-K filed Feb 20, 2008.

Note L—Member credits

In June 2000, the Exchange implemented a member credit program that allowed certain Exchange members to receive a monthly credit of up to $1,000. The credit was applied against fees, dues, charges and other amounts owed to the Exchange, except fines, late fees, out-of-pocket expenses, pass-through costs, capital funding fees, payment for order flow fees, electronic communication network fees and fees for the print subscription of the Phlx guides.

 

F-113

During the years ended December 31, 2005 and 2004, the allowance of the member credit had no impact and a positive impact of $34,000 respectively, on the Exchange’s results of operations. The member credit program was discontinued in May 2003.

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