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To: LPS5 who wrote (8814)	3/10/2001 5:51:47 PM
From: TFF	Read Replies (1) \| Respond to of 12617

Should be interesting to see how decimalization on Nasdaq plays out tomorrow. Q. What securities will be included in the initial pilot? A. Nasdaq’s initial decimal pilot program will consist of 15 securities (14 Nasdaq and 1 OTC Bulletin Board®) and will begin quoting and trading in decimals on March 12, 2001. They will include: Brocade Communications Systems, Inc. (BRCD) Commerce One, Inc. (CMRC) Copper Mountain Networks (CMTN) Cree, Inc. (CREE) Extreme Networks, Inc. (EXTR) Inktomi Corporation (INKT) Integrated Device Technology, Inc (IDTI) Micromuse, Inc. (MUSE) Newport Corporation (NEWP) OpenWave Systems, Inc. (OPWV) Rambus, Inc. (RMBS) Redback Networks, Inc. (RBAK) Research In Motion, Ltd. (RIMM) VerticalNet, Inc. (VERT) The OTCBB security is: Coastal Caribbean Oil & Minerals, Ltd. (OTCBB Security COCBF) (Also listed on the Boston Stock Exchange under the symbol CCO.)

To: LPS5 who wrote (8814)	3/10/2001 9:33:04 PM
From: Jon Tara	Read Replies (3) \| Respond to of 12617

Wow, thanks for that detailed reply! I guess I had a misconception. I had assumed that POSIT attempted to match the largest quantity of the buy and sell orders possible. That would imply executing the smaller quantity of the total bid size and the total offer size, at the midpoint of the spread between the average bid and average offer. (Counting only those orders that matched.) Or something like that. :) It looks like POSIT is just letting the REST of the market determine the price, though. Absent the other market participants, then, POSIT wouldn't work at all, then, right?