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NYSE Trader

Russell Reconstitution – 06/27/08

16 Jun 2008

On June 30, 2008, the newly rebalanced Russell indices (Russell Global Index, Russell 1000® Index, Russell 2000® Index Russell 3000® Index and Russell Microcap® Index) will go into effect and will remain in place for the next 12-month period. The newly reconstituted indices will take effect after the close of the U.S. equity markets on Friday, June 27, 2008. The Russell Investment Group will use the NYSE Closing trades to price the NYSE-listed securities added to the indices. Based on preliminary lists published by Russell on June 20, 2008, 164 NYSE-stocks will be added or deleted.


2008 Russell Reconstitution List

Current Components Proposed AdditionsProposed Deletions
NYSE-listed
Russell 3000
1,3294136
Russell MicroCap3134839

This list is subject to change. Please check with The Russell Investment Group for updates and final lists of additions and deletions at http://www.russell.com/indexes/membership/Reconstitution/default.asp

Normal MOC/LOC rules and procedures will apply on June 27.

MOC/LOC PROCEDURES
7:30 am CMS opens and begins accepting MOC/LOC orders.
3:40 pmMOC/LOC deadline for order entry/cancellation,
except to offset published imbalances or cancel an error.
3:40 - 3:50 pmEntry only to offset published imbalances
Cancellations permitted in case of a legitimate error
3:50 - 4:00 pmCancellation or reduction in size of
MOC /LOC orders not permitted for any reason
4:15 - 5:00 pmOrder entry for Crossing Session I
4:00 pm Orders are executed; market closes.
4:44 pmOrder entry cut-off for NYSE Matchpointsm
4:00 - 6:30 pmOrder entry for Crossing Session II

While we are confident in our capacity planning and software management process, we understand the need to communicate various system interruption contingencies with our customers as we head into the Russell Reconstitution.

Communications
The NYSE will disseminate event updates to inform market participants of any usual market conditions or event outages and to advise of any actions to remedy those conditions via web at http://traderupdates.nyse.com, RSS and email notifications in near real time using NYSE System Status, CMS Broadcasts, NMS Broadcasts, and/or Hoot & Holler broadcasts, all of which are a part of our regular communication methods for alerting our customers to important news.

In addition, we will be joining both NASDAQ and NYSE ARCA on an open market-wide call to provide our customers with live access to information. The call will begin at 3:00 p.m., ET, and will run for approximately two hours.
Dial In: 888 989 9858
Pass code: Russell
Leader: Brian Brody Please call in at least 10 minutes prior to the beginning of the call. (This call is closed to the media.)

System Interruption Contingency Scenario 1
In the event of a NYSE system interruption that occurs intraday whereby normal trading is resumed prior to 3:40 p.m. we will begin the normal Market on Close posting process (3:40 and 3:50, with some publications as early as 3:00 p.m.). There will be the normal 4:00 p.m. close time.

System Interruption Contingency Scenario 2
In the event of a NYSE system interruption that occurs intraday whereby normal trading is resumed between 3:40 and 3:50 p.m. we will begin the normal Market on Close posting process (3:40 and 3:50, with some publications as early as 3:00 p.m.). There will be the normal 4:00 p.m. close time.

System Interruption Contingency Scenario 3
In the event of a NYSE system interruption that occurs intraday whereby normal trading is resumed between 3:50 and 3:59 p.m. we will bypass the normal 3:40 MOC publication and utilize a single MOC publication before the 4:00 p.m. close time, if practicable. Although the process may extend later than the usual 4:00 p.m. close time, order delivery will stop at 4 p.m.

System Interruption Contingency Scenario 4
In the event of a NYSE system interruption that occurs intraday whereby service will be restored after the 4:00 p.m. close time we may not publish the customary 3:40 and/or 3:50 Market on Close information. The NYSE will notify market participants of the new close time and will price the close at or around this time. The normal 5:00 p.m. start time of the Crossing Session will be delayed. The new time will be communicated to market participants via the market wide call and a CMS broadcast.

System Interruption Contingency Scenario 5
In the event of a NYSE system interruption that occurs intraday whereby service will not be restored, the NYSE closing price on June 27 will be the last regular way trade.

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