Exhibit 12

LaBRANCHE & CO INC. AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS (LOSS) TO FIXED
CHARGES

(UNAUDITED)

(000s omitted)



|                                              |  |                                  |        |      |   |         |  |   |         |   |  |      |          |   |  |   |        
|--------------------------------------------- |  | -------------------------------- | ------ | ---- | - | ------- |  | - | ------- | - |  | ---- | -------- | - |  | - | -------
|                                              |  | For the Years Ended December 31,
|                                              |  | 2006                             |        | 2005 |   | 2004    |  |   | 2003    |   |  | 2002
|Earnings (Loss):                              |  |                                  |        |      |   |         |  |   |         |   |  |      |          |   |  |   |        
|Pre-tax income (loss) (1)                     |  | $                                | 31,557 |      | $ | 51,105  |  | $ | (58,702 | ) |  | $    | (191,502 | ) |  | $ | 158,315
|                                              |  |                                  |        |      |  
|Add: fixed charges                            |  |                                  | 52,623 |      |   | 52,971  |  |   | 58,909  |   |  |      | 50,941   |   |  |   | 59,022 
|                                              |  |                                  |        |      |   |         |  |   |         |   |  |      |          |   |  |   |        
|Pre-tax earnings (loss) before fixed charges  |  | $                                | 84,180 |      | $ | 104,076 |  | $ | 207     |   |  | $    | (140,561 | ) |  | $ | 217,337
|                                              |  |                                  |        |      |   |         |  |   |         |   |  |      |          |   |  |   |        
|Fixed charges:                                |  |                                  |        |      |   |         |  |   |         |   |  |      |          |   |  |   |        
|Interest expense on all indebtedness (3)      |  |                                  | 50,695 |      |   | 51,219  |  |   | 48,040  |   |  |      | 42,614   |   |  |   | 46,200 
|Other                                         |  |                                  | 1,928  |      |   | 1,753   |  |   | 7,380   |   |  |      | 2,155    |   |  |   | 2,078  
|Preferred stock dividend requirements         |  |                                  |        |      |   |         |  |   | 3,490   |   |  |      | 6,172    |   |  |   | 10,744 
|                                              |  |                                  |        |      |   |         |  |   |         |   |  |      |          |   |  |   |        
|Total fixed charges                           |  | $                                | 52,623 |      | $ | 52,972  |  | $ | 58,910  |   |  | $    | 50,941   |   |  | $ | 59,022 
|                                              |  |                                  |        |      |   |         |  |   |         |   |  |      |          |   |  |   |        
|Ratio of earnings (loss) to fixed charges (2) |  |                                  | 1.60   |      |   | 1.96    |  |   | 0.00    |   |  |      | (2.76    | ) |  |   | 3.68   

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|(1) | Pre-tax income (loss) does not include minority interest and income or loss from equity investees, but does include preferred stock dividend requirements.
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|(2) | The ratio of earnings to fixed charges for 2004 represents a $58.7 million deficiency, which was the result of a goodwill impairment charge of $37.6 million, an exchange membership
impairment charge of $18.3 million and $55.9 million of charges related to the Companys debt refinancing. The ratio of loss to fixed charges for 2003 represents a $191.5 million deficiency, which was the result of a goodwill impairment charge
of $170.3 million and the $63.5 million accrual for the tentative settlement with the NYSE and SEC of the investigations of specialist trading activities.
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|(3) | The fixed charge computation excludes certain inventory financing interest expense related to specialist and market making options, futures and ETF activities which are considered
to be product costs rather than fixed charges as determined by management.
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