Beginning with year-end 2002, the NYSE adjusted the methodology for consolidating the results of its part-owned subsidiary, Securities Industry Automation Corporation (SIAC). As a result, the revenues and expenses for the first quarter of 2002 have been reclassified to reflect this change. This has no impact on the Exchange's net income. Net income in first-quarter 2003 was $15.4 million, compared with $15.1 million in the year-ago quarter.
Pre-tax income for first-quarter 2003 was reported at $26.2 million, compared with $25.7 million during the same period in 2002.
Average daily trading volume in first-quarter 2003 was 1.4 billion shares, compared with 1.3 billion shares in the comparable period of 2002. In first-quarter 2003, 16 companies joined the list of NYSE-listed stocks, compared with 30 in the year-ago period.
