From: Ying Cui [mailto:yingc@winstrade.net]
Sent: Friday, July 25, 2003 10:53 AM
To: MSRB
Cc: cui
Subject: Re: MSRB Notice 2003-27


To Whom It May Concern:

I strongly against this change. I believe MSRB should charge fee at all.
Fees paid to MSRB should be based on revenue a firm generated from municipal
securities activities.

We have no revenue since we are MSRB member. I feel $200 too much already.
If you keep rising fee, I would like to terminate our membership with MSRB.
What is the dealine for me to terminate membership in order not to pay
annual fee this year?

Sincerely,

Dr. Ying Cui

----- Original Message -----
From: "MSRB" <MSRB@msrb.org>
Sent: Thursday, July 03, 2003 11:53 AM
Subject: MSRB Notice 2003-27


 The MSRB has filed with the SEC a proposed rule change to
 amend Rule A-14, on annual fees.

 http://ww1.msrb.org/msrb1/whatsnew/A-14notice.htm

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