NASD Appoints Gordon F. Martin Chief Financial Officer

The National Association of Securities Dealers, Inc. (NASD®) has appointed Gordon F. Martin, 52, Executive Vice President and Chief Financial Officer (CFO). Martin starts at NASD today. Martin will be responsible for all financial matters throughout the organization. He will work closely with senior management to ensure that the financial implications of key business and regulatory decisions are carefully considered. Martin will assume the position's responsibilities from Sal Sodano, Chief Operating Officer of the NASD and Chairman and CEO of the American Stock Exchange®. Martin will report to Sodano. Commenting on the appointment, NASD Chairman and CEO Frank G. Zarb noted, "Gordon brings a wealth of both domestic and international finance experience that will be put to good use quickly." He joins NASD from CIBC World Markets in New York, where he was the Managing Director responsible for financial strategy, tax management, capital markets products, and provided general financial advice for all capital markets' issues of the firm. Prior to that, Martin was Vice President and Director of Tax for Westpac Banking Corporation and also spent 17 years as Senior Vice President at the Marine Midland Bank. In that position he had responsibility for tax, insurance, and other financial control functions. In 1971, Martin received an M.B.A. in Finance from S.U.N.Y. in Buffalo. He graduated from Canisius College with a B.S. in Accounting in 1969. The National Association of Securities Dealers, Inc., is the largest securities-industry, self-regulatory organization in the United States. It is the parent organization of The Nasdaq Stock Market®, The American Stock Exchange®, and NASD Regulation, Inc. For more information about the NASD and its subsidiaries, please visit the following Web sites: www.nasd.com; www.nasdaq.com; www.amex.com; www.nasdr.com; or the Nasdaq NewsroomSM at www.nasdaqnews.com.