Financial Update: Operating Leverage

1Q

01

2Q

01

3Q

01

4Q

01

1Q

02

2Q

02

3Q

02

4Q

02

1Q

03

2Q

03

($ in millions)

ADV

(in thousands)

Net Revenue

Expense

Operating Income

Note: Expense and Operating Income exclude patent litigation

Average Daily Volume

3Q

03

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