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To: trilobyte who wrote (5841)	2/1/2000 10:19:00 AM
From: paulr1	Read Replies (1) of 17977

The timestamp occurs milliseconds after the exchange timestamp. In most cases it will be the same second as the exchange, occasionally it will be marked a second (on paper) later. I am aware of only two data providers who send the actual exchange timestamp, Reuters and Bloomberg, and at a significant increase in cost. Take our T&S and compare with your brokers. The difference, if any, is miniscule. I spoke with a client this week who used our T&S data as a basis for a refund from his broker because they did not execute in a timely (45 minutes later at the low of the day) fashion. The broker found no discrepancies and issued the refund. Not a bad deal, considering many other feeds don't have the historical T&S to reference for this type of dispute. ~Paul

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