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May 31, 1998

New Home for the NASD in Ohio or N.Y.? Two Congressmen Speak Out!

By Jeffrey L. Winograd

If the National Association of Securities Dealers finally decides to move its headquarters from Washington, can we expect a bidding war that makes a plan for the New York Yankees to move to Manhattan pale in comparison?

NASD President Frank Zarb makes no secret of his dream to move part of the NASD to

New York's Times Square to heighten the association's public profile. But one of Washington's top legislators thinks Zarb should consider another location.

How about quiet Findlay, outside Columbus, Ohio, in his congressional district? wisecracked Rep. Michael Oxley (R-Ohio), chairman of the House Commerce Subcommittee on Finance and Hazardous Materials.

"It's in the northwest of Ohio, a very nice spot, with several golf courses, clean air, no traffic, no crime. And Toledo, just 30 miles away, has an international airport," he told Traders Magazine.

Rep. Thomas Manton (D-N.Y.), the ranking member on Oxley's panel and a quintessential New Yorker, thinks the Big Apple is still the perfect fit.

"I don't think there is any great advantage to being in the nation's

capital," he said, exchanging glances with Oxley. "But there is an advantage to being in New York where the markets are made."

"New York Mayor Rudolph W. Giuliani doesn't like raiding when it comes to athletic teams, but this is one where there would be a real natural fit," Manton added.

Oxley put in another pitch for humble Findlay. "The [NASD staffers] could actually just commute from New York," he joked.