1 Table of Contents: “...Quality of Our Financial Markets -- High Frequency Trading: Friend or Foe? -- Mid-Day Address...”

2 Table of Contents: “... Laureate 2003 -- Volatility and Technology -- Volatility and Market Structure -- Implications for Trading...”

3 Table of Contents: “...Recent Evidence on Market Quality -- Intra-Day Volatility: Friend or Foe? -- View from the Trading...”

4 Table of Contents: “...Chapter 1. Thoughts and Perspectives on 40th Anniversary of the National Market System (NMS...”

5 Table of Contents: “... -- Regulatory Initiatives: Implications for Competition and Efficiency -- What the Buy-Side Needs -- Market...”

6 Table of Contents: “... of the Modern Nasdaq -- Overcoming Resistance to Change -- Nyse Market Structure and Services -- Best Execution...”

7 Table of Contents: “...The Call Auction Alternative -- The Broad Perspective -- View From a Market Maker -- Alternative...”

8 Subjects: “...Financial Services...”

9 Subjects: “...Financial Economics...”

10 Subjects: “...Financial Economics...”

11 Table of Contents: “... Broker -- Achieving Best Execution Through Market Structure Development -- Electronic Trading -- Hybrid...”

12 Subjects: “...Financial Economics...”

13 Table of Contents: “..., Council on Foreign Relations -- Chapter 4: Transparency In the Trading Markets -- Mid-Day Address: Alfred...”