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Communications and data processing expense primarily consists of
costs for obtaining market data, telecommunications services and systems
maintenance. Depreciation and amortization expense results from the depreciation of fixed assets and leasehold improvements and the amortization of intangible assets with finite lives primarily related to our purchases of various options-related specialist posts. In accordance with SFAS No. 142, as of January 1, 2002, goodwill is no longer being amortized. Occupancy and equipment rentals expense primarily consists of rental payments on office and equipment leases. Professional fees consist of legal and other professional fees, as well as fees paid to computer programming, systems and management consultants. Business development expense primarily consists of travel, sales and advertising costs. International charges consists of charges related to the reduction of European businesses as well as charges related to permanent impairments to strategic investments held by our international businesses. The writedown of assets and lease loss accrual related to our domestic businesses consists of losses related to excess real estate, fixed assets that are no longer actively used, permanent impairments to strategic investments and exchange seats. Other expenses primarily consist of administrative expenses and other operating costs such as recruitment fees, regulatory fees and general office expenses. RESULTS OF OPERATIONS The following table sets forth the consolidated statement of operations data as a percentage of total revenues: |
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