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To: RichBear who wrote (2986)	1/20/2000 12:31:00 AM
From: RichBear	Respond to of 4792

Should have identified the qualifiers.. T NASDAQ: Form ?T? trade. This is a trade which occurred after the NASD system close. These trades are reported on a ?Form-T? and are electronically as a group some time after the close. Non-NASDAQ: Custom Basket Cross. This Signifies a trade of (a) two paired split (where the customer requires only a portion of the standardized basket) orders in which the market maker or member organization facilitates both sides of the remaining portion of the baskets, or (b) a combination of a split basket and an entire basket where the market maker facilitates the remaining shares of the split basket only. Z Sold. This is a late, out of sequence, report of a regular sale.

To: RichBear who wrote (2986)	1/20/2000 1:05:00 AM
From: Eric Fader	Respond to of 4792

Bear - you're right, officially. My MM is a by-the-book type and won't even place the call to another MM in the morning until the bell rings, and I've never gotten an end-of-day trade report more than a minute or two after the close, but obviously the rules don't stop other MMs from initiating new trades and coding them as late reports. There's no other explanation for the 1-1/8 and 1.15 prints of LWNTF today. It'll be interesting to see how the MMs line up pre-open tomorrow. -Eric