EFTA00197209¶
BEAR STEARNS¶
OFFICE SERVICING YOUR ACCOUNT¶
Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179¶
CLEARED THROUGH ITS¶
CLEARLY WOUNDED SUBSIDIARY¶
2 of 4¶
Bear, Steams Securities Corp.¶
One Metrotech Center North¶
Brooklyn, New York 11201-3859¶
At May 31, 2002 and July 31, 2002, the Company’s net capital of approximately $2.5 billion and $2.0 billion was approximately 7% and 6% of aggregate debit items and exceeded the minimum regulatory net capital requirement of approximately $679.9 million and $644.8 million by approximately $1.8 billion and $1.3 billion, all respectively.¶
FINANCIAL TRUST CO INC¶
A complete copy of the Bear, Stearns Securities Corp. Statement of Financial Condition is available on the web site www.bearstearns.com , Alternatively, to request a free printed copy please call -toll free 1-866-299-9331.¶
Your messages¶
Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements:¶
STATEMENT PERIOD August 31, 2002¶
THROUGH September 27, 2002¶
AGCOUNT NUMBER¶
TAXPAYER NUMBER Not Available¶
| LAST STATEMENT | August 30, 2002 |¶
| :--- | :--- |¶
Securities and other assets in your account are the firm’s collateral for any margin loan made to you. If the securities and other assets in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, the firm can take action, such as issue a margin call and/or sell securities or other assets in any of your accounts held with the member, in order to maintain the required equity in the account. It is important that you fully understand the risks involved in trading securities on margin. These risks include the following:¶
You can lose more funds than you deposit in the margin account.
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The firm can force the sale of securities or other assets in your account(s).
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The firm can sell your securities or other assets without contacting you.
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You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call.
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The firm can increase its “house” maintenance margin requirements at any time and is not required to provide you advance written notice.
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You are not entitled to an extension of time on a margin call.
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09/28/02;15:33 001¶
EFTA00197210¶
BEAR STEARNS¶
OFFICE SERVICING YOUR ACCOUNT¶
Bear, Stearns & Co. Inc. 383 Madison Avenue New York, New York 10179¶
CLEARED THROUGH ITS¶
CLEARLY WOUNDED SUBSIDIARY¶
3 of 4¶
Bear, Steams Securities Corp.¶
One Metrotech Center North¶
Brooklyn, New York 11201-3859¶
FINANCIAL TRUST CO INC¶
BSC routes a majority of orders for customer securities transactions to the primary market for such securities. Orders may also be routed to other market service vendors that assure executions pursuant to complex mathematical formulas at better than the national best bid or best offer (NBBO). BSC receives no cash payment or other consideration for such order routing other than favorable executions or executions of limit orders at no additional charge.¶
This statement is provided to explain Bear, Stearns & Co., Inc.’s (“BSC”) payment for order flow practices.¶
STATEMENT PERIOD August 31, 2002¶
THROUGH September 27, 2002¶
AGCOUNT NUMBER¶
TAXPAYER NUMBER Not Available¶
| LAST STATEMENT | August 30, 2002 |¶
| :--- | :--- |¶
Pursuant to SEC Rule 11Ac1-6, please note the following:¶
Bear, Stearns & Co., Inc. will post its quarterly routing statistics at the following web link:¶
http://www.bearstearns.com/bearstearns/individualinvestor/equititesord¶
erroutingpractices.htm¶
Customers of Bear, Stearns & Co. Inc. may request information on any order executed within the prior six months from the time of the request. Specifically, you may request the identity of the venue to which the identified orders were routed for execution, whether the order was directed by you to that venue, and the time of the executions, if any, that resulted from such orders.¶
******* End of Statement*******¶
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V636¶
EFTA00197211¶
CLEARED THROUGH ITS WHOLLY OWNED SUBSIDIARY¶
4 of 4¶
Bear, Steams Securities Corp. One Metrotech Center North Brooklyn, New York 11201-3859¶
FINANCIAL TRUST CO INC¶
STATEMENT BACKER IS PRINTED ON THIS PAGE¶
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