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Non-Tech : Brown & Company New "5 and 10 Store"? -- Ignore unavailable to you. Want to Upgrade?

To: Brendan W who wrote (111)	8/3/1998 6:34:00 PM
From: Esteban	Read Replies (1) \| Respond to of 1865

Brendan, You are right about the before-the-market market order. I don't normally trade during the first 30 minutes so that doesn't concern me. But it could certainly come in handy occasionally. As for the NYSE, today I traded twice on NYSE listed securities. The first time was a marketable limit order and I got a 5 second execution, no price improvement, and time and sales showed the trade on the NYSE. The second time my limit order narrowed the spread, and the matching size on time and sales was on the NYSE. Shortly afterward I was filled, again on the NYSE and the matching limit offer disappeared. So far it looks just as I thought. NYSE representation and execution. Esteban

To: Brendan W who wrote (111)	8/14/1998 11:52:00 PM
From: Esteban	Read Replies (1) \| Respond to of 1865

Ok, for anyone interested in whether or not Datek executes on NYSE, the definitive answer is yes. In 25 or more trades during the last two weeks almost all have been represented and executed on NYSE, designated by "N". No other regional exchange symbol has appeared on any of the sales, bids or offers. There have been two executions designated 'S' and one 'X'. On the back of the Datek confirmations slips, X stands for Over the Counter w/o NSCC Clearing, S stands for As/of Trades. I don't understand either designation. The size of the trades has varied from 300 shares to 1400 shares. Does anyone know what the X and S designations actually mean. Over the counter on a listed stock? As/of trades? Esteban