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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: bazooka who wrote (3497)	8/20/1998 12:54:00 AM
From: Joey	Read Replies (1) \| Respond to of 4969

Bazooka - ACT is a system that brokerage firms use to compare their trades. One firm enters the trade as a buy and the other as a sell, the trades then compare for clearing purposes. The selling side usually reports the volume to the tape when they ACT the trade. The buy side reports the trade if they make a market in the stock and the seller does not. The trade will generally be reported as a single trade, because breaking the trade up would require multiple tickets to be written, hence multiple ticket charges would be incurred. If the reporting side is acting as agent for multiple buyers/sellers (not running the trades through inventory) you might see 10k shares print in smaller lots, but it would be more common to see the whole 10K print, probably with a .B(unched) modifier. Joey