ACKNOWLEDGEMENT

We wish to acknowledge the extraordinary efforts of Alton S. Harvey, who was responsible for the difficult and time-consuming task of reconstructing trading during the October market break. In addition, we wish to express a special note of appreciation to the following individuals who contributed immensely to the completion of this Study:

Margaret A. Favor - Office of Edgar Management

William H. McDonald, Jr. - Office of Information Systems Management

Sharon L. Mercer - Office of Information Systems Management

Duane Luetkenhaus - Office of Information Systems Management

John Boucher - Office of Information Systems Management

Philip J. Niehoff - Division of Investment Management

James F. Tabellario - Office of Information Systems Management

Judith L. Westbrook - Office of Edgar Management

Lois Lightfoot - Directorate of Economic and Policy Analysis

Kenneth A. Drews - Office of Information Systems Management

Charles F. Kirby - Office of Information Systems Management

The Division wishes to recognize the valuable assistance of the Directorate of Economic and Policy Analysis, the Office of the Chief Economist, the Divisions of Corporation Finance and Investment Management, and the SEC's Regional Offices. We also acknowledge the efforts of the staff of the Investor Services Branch of the Office of Consumer Affairs and Information Services in the preparation of Chapter Twelve, especially Phyllis C. Campbell, John D. Heine, Ellen J. Legel, Dorothy N. Monroe, Richard E. Pullano, Teresa T. Tarver, and Bonnie M. Westbrook, as well as consumer affairs specialists and other staff members throughout the Commission's Regional Offices. In addition, we appreciate the efforts of Robert L. Kraft, Sylvia J. Reis, and Herbert D. Scholl in the preparation of Chapter Six.

Finally, we wish to thank the Department of the Treasury, the Internal Revenue Service, the U.S. Mint, the U.S. Customs Service, and Management Information Consulting for valuable staff and computer support, the Department of Justice's Office Automation Service for excellent graphics, and the SEC's Office of Administrative Services for their printing support.

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