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

To: bazooka who wrote (3499)	8/20/1998 12:06:00 PM
From: Alan Stalter	Read Replies (1) \| Respond to of 4969

You might be confusing the actual crossing of the trades with the accounting of them. ACT is used for accounting-- a system like POSIT would be used to cross. Most of the crosses you see are being done by sales traders on institutional desks across the country or market makers with firms that don't "make" the stocks. Utilizing this info is very difficult if you're not the one doing the cross (firms are very tight-lipped out giving out names of parties involved) because for every buyer there is also a seller. Also trades are put on the tape to influence action even though the actual trade could have taken place hours ago. Al

To: bazooka who wrote (3499)	8/20/1998 12:41:00 PM
From: Joey	Read Replies (2) \| Respond to of 4969

ACT is used mainly for reporting trade volume and price to the tape and for settlement purposes between the two brokers clearing houses. Compare means they both put the trade into act the same way, (same stock, price, volume) The modifiers are as follows - .B for bunched, .SLD for reported out of sequence (more than 90 seconds after execution), .T outside normal market hours, .W - weighted average price, .ND - next day settlement. There are others, but these are the ones you are most likely to see. As for how to use these, I suppose they could be read differently in each situation, now that you know what they mean, apply them in your tape reading analysis. Joey