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To: Michael Abramson who wrote (6547)2/3/1998 4:38:00 PM
From: Jon Normile  Read Replies (2) | Respond to of 16892
 
Dear Sir,

Concerning your order in PEP, there was a print of 10,000 shares at 36 1/2 on the tape at approximately the same time. What most likely happened was that the specialist grouped your order into this single large execution. This is a common practice on the exchange. As to how you got the price improvement, what most likely happened was that this large order came to the floor at the same time as your limit order. Before the specialist represented your order on the tape, he executed it along with the rest of the offer at a better price for you. Congratulations on your good fill.

Jon Normile
datek Online

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