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, |        
|                                              |  | 2009                             |         |   | 2008 |   |          | 2007 |  |   | 2006    |   | 2005 |  
|(Loss) earnings:                              |  |                                  |         |   |      |   |          |      |  |   |         |   |      |   |         |  |   |         |  
|Pre-tax (loss) income (1)                     |  | $                                | (67,131 | ) |      | $ | (149,817 | )    |  | $ | (34,227 | ) |      | $ | 179,085 |  | $ | (32,382 | )
|Add: fixed charges                            |  |                                  | 21,838  |   |      |   | 31,001   |      |  |   | 50,269  |   |      |   | 51,824  |  |   | 51,726  |  
|                                              |  |                                  |         |   |      |   |          |      |  |   |         |   |      |   |         |  |   |         |  
|Pre-tax (loss) earnings before fixed charges  |  | $                                | (45,293 | ) |      | $ | (118,816 | )    |  |   | 16,042  |   |      | $ | 230,909 |  | $ | 19,334  |  
|                                              |  |                                  |         |   |      |   |          |      |  |   |         |   |      |   |         |  |   |         |  
|Fixed charges:                                |  |                                  |         |   |      |   |          |      |  |   |         |   |      |   |         |  |   |         |  
|Interest expense on all indebtedness (3)      |  | $                                | 20,969  |   |      | $ | 27,411   |      |  | $ | 48,291  |   |      | $ | 49,941  |  | $ | 50,018  |  
|Other                                         |  |                                  | 869     |   |      |   | 3,590    |      |  |   | 1,978   |   |      |   | 1,883   |  |   | 1,708   |  
|Preferred stock dividend requirements         |  |                                  |        |   |      |   |         |      |  |   |        |   |      |   |        |  |   |        |  
|                                              |  |                                  |         |   |      |   |          |      |  |   |         |   |      |   |         |  |   |         |  
|Total fixed charges                           |  | $                                | 21,838  |   |      | $ | 31,001   |      |  | $ | 50,269  |   |      | $ | 51,824  |  | $ | 51,726  |  
|                                              |  |                                  |         |   |      |   |          |      |  |   |         |   |      |   |         |  |   |         |  
|Ratio of (loss) earnings to fixed charges (2) |  |                                  | (2.07   | ) |      |   | (3.83    | )    |  |   | 0.32    |   |      |   | 4.46    |  |   | 0.37    |  



|(1) | Pre-tax (loss) income does not include our loss from equity investees.
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|(2) | The ratio of earnings to fixed charges for 2009 represents a $67.1 million deficiency which includes a $6.3 million loss associated with the Companys NYX shares.
The ratio of earnings to fixed charges for 2008 represents a $149.8 million deficiency which includes a $181.4 million loss associated with the Companys NYX shares. The ratio of earnings to fixed charges for 2007 represents a $34.2 million
deficiency which includes a $15.8 million loss associated with the Companys NYX shares. The ratio of earnings to fixed charges for 2006 represents a $179.1 million surplus which includes a $238.6 million gain associated with the Companys
NYX shares.
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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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|(4) | Discontinued operations are excluded from all amounts.
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