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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Duper who wrote (49539)	7/7/1998 4:56:00 PM
From: Mark Duper	Respond to of 61433

I found it: Report: Nasdaq to change some trade counting NEW YORK (Reuters) - The Nasdaq Stock Market is set to change the way it counts some of its trades, the Wall Street Journal reported Tuesday. For decades, Nasdaq has defended its trade-counting practices and recently said it has overtaken the New York Stock Exchange as the busiest U.S. stock market, based on daily volume. In a shift from longstanding policy, the National Association of Securities Dealers, Nasdaq's self-regulatory parent, recently unanimously approved a proposal to reduce ''double-counting'' of so-called riskless principal trades. In these transactions, NASD brokers match investors' buy and sell orders without actually risking their own capital. The proposal most likely will affect counting for 2 percent to 10 percent of Nasdaq's annual trading volume, which last year totaled 163.9 billion shares, or an average 647.8 million shares a day, the paper reported. Currently an order to buy one share of a Nasdaq-traded stock results in two trades being recorded: The broker handling the transaction first buys the requested share from someone who owns it, then resells it to the new buyer. That's different from the way the New York Stock Exchange counts its trading volume, where a buy order usually generates only one recorded trade. Reut13:42 07-07-98