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  • 94-48 SOES Tier Levels Set To Change July 11, 1994

    SUGGESTED ROUTING

    Senior Management
    Institutional
    Options
    Trading

    Effective July 11, 1994, tier sizes for 500 Nasdaq National Market (NNM) securities will be revised in accordance with ¶2451a7 of the Rules of Practice and Procedure for the Small Order Execution System (SOESSM).

    Under the revised SOES rules (see Special Notice to Members 94-1 January 5, 1994), the maximum order-execution size in SOES is 500 shares, although tier sizes of NNM securities will continue to be categorized as 1,000,500, and 200 shares for the purpose of establishing minimum quotation size (Schedule D of the NASD By-Laws, ¶1819, Part V, Sec. 2a).

    The Nasdaq Workstation indicates the minimum-size requirement for each NNM security in its bid/offer quotation display. The indicator "SM10," "SM5," or "SM2" is displayed to the left of the security name, corresponding to a minimum-size display of 1,000, 500, or 200 shares, respectively.

    The criteria for establishing tier sizes is as follows:

    • A 1,000-share tier size was applied to those NNM securities that had an average daily non-block volume of 3,000 shares or more a day, a bid price that was less than or equal to $100, and three or more market makers.

    • A 500-share tier size was applied to those NNM securities that had an average daily non-block volume of 1,000 shares or more a day, a bid price that was less than or equal to $150, and two or more market makers.

    • A 200-share tier size was applied to those NNM securities that had an average daily non-block volume of less than 1,000 shares a day, a bid price that was less than or equal to $250, and less than two market makers.

    These order-size tiers were set by the NASD after extensive research and polling of all NNM market makers. The purpose of establishing these tiers was to provide public investors with the most efficient means of handling their small orders while ensuring that the market makers were not required to assume unrealistic risks under the new mandatory SOES participation rules.

    In accordance with the SOES rules, the tier levels applicable to each security are reviewed periodically to determine if the trading characteristic of the issue had changed so as to warrant a SOES tier-level move. Such a review was conducted as of February 28, 1994, using the aforementioned formula. The results of this review were analyzed by the SOES Subcommittee and the NASD Trading Committee, which recommended that changes in SOES tier levels should be implemented per the formula calculation with two exceptions.

    First, an issue would not be permitted to move more than one level. For example, if an issue was previously categorized in the 1,000-share tier, it would not be permitted to move to the 200-share tier even if the formula calculated that such a move was warranted. The issue could move only one level to the 500-share tier as a result of any single review. In adopting this policy, the SOES Subcommittee was attempting to minimize market-maker exposure on issues for which the tier level increased and maintain adequate public investor access on issues for which the tier level decreased.

    Second, for eight securities priced below $1 where the reworking called for a reduction in tier size, the SOES Subcommittee and the NASD Trading Committee determined not to recommend a decline in tier size. As a result, five securities that would have been reduced to 200 from 500 remained at 500 and three securities that would have been reduced from 1,000 to 500 remained at 1,000.

    The SOES Subcommittee also recognized that the formula used to assign accurately reflect the trading characteristics for each issue. As such, market participants are reminded that the SOES Subcommittee may assign a particular NNM security a tier-size level than otherwise would be called for according to the criteria described above under appropriate circumstances. For more information, please contact Nasdaq Market Operations at (203) 378-0284. Following is a listing of the NNM issues that will require a SOES tier-level change on July 11, 1994.

    Nasdaq National Market SOES Changes

    All Issues In Alphabetical Order By Name (Effective My, 1994)

    Symbol

    Company Name

    Old Tier Level

    New Tier Level

    A

         

    ELUXY

    A B ELECTRLX ADR SPD

    500

    1000

    ACSE

    ACS ENTERPRISES

    500

    1000

    ACXT

    A C X TECHS INC

    500

    1000

    AELNA

    A E LINDS CL A

    500

    1000

    ALTI

    ALTAI INC

    200

    500

    AMTL

    A M T R 0 L INC

    500

    1000

    APGI

    A P GREEN INDS

    500

    1000

    ARIS

    ARINETWORKSVCS

    500

    1000

    ARONA

    AARON RENTS INC CL-A

    500

    1000

    ARONB

    AARON RENTS INC CL-B

    500

    1000

    ABRI

    ABRAMS INDS INC

    200

    500

    AXAS

    ABRAXAS PETRO (NEV)

    500

    1000

    ACLE

    ACCEL ESfTLCP

    500

    1000

    ACET

    ACETO CP

    500

    1000

    ACTN

    ACTION PERFORM COS

    500

    1000

    ACTNW

    ACTION PERFORM WTS

    500

    1000

    ANMR

    ADVANCED NMR SYS INC

    500

    1000

    AIRM

    AIR METHODS CP

    500

    1000

    ARSNW

    AIRSENSORS INC WTS

    500

    1000

    ATNG

    ALATENN RESOURCES

    500

    1000

    ALET

    ALOETTE COSMETICS

    1000

    500

    ALBML

    ALPHA 1 BIOMED C WTS

    500

    1000

    ACPI

    AMER CONSUMER PROD

    200

    500

    ALHCP

    AMER LIFE HLDG PFD

    1000

    500

    AMGD

    AMER VANGUARD CP

    1000

    500

    ASBI

    AMERIANA BANCORP

    1000

    500

    ATAXZ

    AMERICA FRST TX 2 LP

    500

    1000

    AMTA

    AMISTARCP

    500

    1000

    AMPI

    AMPLICON INC

    200

    500

    AMTR

    AMTRANINC

    500

    1000

    ANDR

    ANDERSEN GROUP INC

    200

    500

    AMBI

    APPLIED MICROBIOLOGY

    500

    1000

    ACAT

    ARCTCO INC

    500

    1000

    ARTHF

    ARETHUSA LIMITED

    500

    1000

    ASBK

    ASPEN BANCSHARES INC

    1000

    500

    AFED

    ATLANFED BNCP ESfC

    200

    500

    ATWD

    ATWOOD OCEANICS INC

    500

    1000

    ACAM

    AUTOCAM CP

    500

    1000

    ACLV

    AUTOCLAVE ENGINEERS

    1000

    500

    AUFN

    AUTOFINANCE GP INC

    500

    1000

           

    B

         

    BARZ

    BARRAINC

    500

    1000

    BFEN

    BF ENTERPRISES INC

    200

    500

    BFSI

    BFSBANKORPINC

    1000

    500

    BKCS

    B K C SEMICONDUCTORS

    200

    500

    BLCC

    BALCHEM CP

    200

    500

    BWINB

    BALDWIN LYONS CL B

    200

    500

    BTEK

    BALTEKCP

    500

    200

    BCIS

    BANCINSURANCE CP

    1000

    500

    BKCO

    BANKERS CP

    500

    1000

    BKUNP

    BANKUNITED CV PFD

    200

    500

    BKUNA

    BANKUNITED FTNL CP A

    200

    500

    BNYN

    BANYAN SYSTEMS INC

    500

    1000

    BBSI

    BARRETT BUSINESS SVC

    500

    1000

    BASER

    BASE TENRTS SERB

    1000

    500

    BNHN

    BENTHANA NATL CP

    500

    1000

    BGAS

    BERKSHIRE GAS CO

    500

    200

    BPTI

    BEST POWER TECH INC

    500

    1000

    BEERF

    BIG ROCK BREWERY LTD

    500

    1000

    BLSC

    BIO LOGIC SYS CP

    500

    1000

    BTGCZ

    BIO-TECH GEN WTS 96

    200

    500

    BGENW

    BIOGEN INC WTS

    500

    1000

    BINC

    BIOSPHERICS INC

    500

    1000

    BHWK

    BLACK HAWK GAMING

    500

    1000

    BHWKW

    BLACK HAWK WTS A

    500

    1000

    BHWKZ

    BLACK HAWK WTS B

    500

    1000

    BMPE

    BLMPIEINTL INC

    500

    1000

    BOSA

    BOSTON ACOUSTICS INC

    1000

    500

    BOXXA

    BOX ENERGY CPCL A

    200

    500

    BRCOA

    BRADYWHCOCLA

    500

    1000

    BRDLQ

    BRENDLE'S INC

    500

    1000

    BBTK

    BROADBAND TECHS INC

    500

    1000

    BSIS

    BROADWAY & SEYMOUR

    500

    1000

    BROC

    BROCK CONTROL SYSTEM

    500

    1000

    BKST

    BROOKSTONE INC

    200

    500

    BMTC

    BRYN MAWR BK CP

    500

    200

           

    C

         

    CBBI

    C B BANCSHARES INC

    200

    500

    CNIT

    CENITBNCPINC

    500

    1000

    CERB

    CERBCOBSfC

    200

    500

    CFBC

    C F BANCORP INC

    500

    200

    CFTB

    C FUNDS INC

    200

    500

    CIMC

    CIMCOINC

    500

    1000

    COOK

    CALIF CULINARY ACAD

    500

    1000

    CANXA

    CANNON EXPRES INC A

    500

    1000

    CANO

    CANONIE ENVIRON SVC

    500

    1000

    HKYIF

    CANSTAR SPORTS INC

    200

    500

    CNTBY

    CANTAB PHARM PLC ADR

    500

    200

    CCBT

    CAPE COD BK TR CO

    1000

    500

    CABK

    CAPITAL BANCORP

    500

    200

    CSWC

    CAPITAL SOUTHWEST CP

    200

    500

    CATA

    CAPITOL TRANSAMERICA

    500

    1000

    CAFC

    CAROLINA FIRST CP

    500

    1000

    CATS

    CATALYST SEMICOND

    200

    500

    CTSC

    CELLULAR TECH SVCS

    500

    1000

    KOKO

    CENTRAL INDIANA BNCP

    500

    1000

    CJER

    CENTRAL JERSEY BNCP

    500

    1000

    CMBI

    CENTRAL MTGEBCSHS

    1000

    500

    CSBC

    CENTRAL SOUTHERN HLD

    200

    500

    CNSP

    CENTRAL SPRINKLER CP

    1000

    500

    CNBKA

    CENTURY BANCORP A NV

    500

    1000

    CRDN

    CERADYNE INC

    500

    1000

    CHANF

    CHANDLER INS CO LTD

    500

    1000

    CHFD

    CHARTER FED SAV BK

    500

    1000

    CHEM

    CHEMPOWERINC

    1000

    500

    CHER

    CHERRY CP

    500

    1000

    CVAL

    CHESTER VALLEY BNCP

    200

    500

    CDCR

    CHILDRENS DISCOVERY

    500

    1000

    CRCL

    CIRCLE FINLCP

    500

    200

    CINS

    CIRCLE INCOME SHARES

    500

    1000

    CFBKP

    CITIZENS FED BKPFD

    200

    500

    CHCO

    CITY HOLDING CO

    200

    500

    CIVC

    CIVIC BANCORP

    500

    1000

    CLDRP

    CLIFFS DRILLING PFD

    200

    500

    GOBI

    COBANCORP INC

    200

    500

    CHTB

    COHASSET SAVINGS BK

    500

    1000

    COHO

    COHO ENERGY INC

    500

    1000

    COLB

    COLUMBIA BKNG SYS

    500

    1000

    COBAP

    COMMERCE BNCP PFD B

    500

    200

    CBNY

    COMMERCIAL BK OF NY

    500

    1000

    CBNKP

    COMMU BNCP CUM PFD B

    500

    200

    CBKI

    COMMUNITY BANKS INC

    200

    500

    CBNH

    COMMUNITY BANKSHARE5

    5 1000

    500

    CBSI

    COMMUNITY BK SYSTEM

    1000

    500

    CMETS

    CONTL MORTGAGE EQUIT

    1000

    500

    CSOL

    CONVERGENT SOLUTN

    500

    1000

    ZAPS

    COOPER LIFE SCI INC

    200

    500

    CPLY

    COPLEY PHARM INC

    500

    1000

    CSTN

    CORNERSTONE FIN CP

    500

    1000

    CRRC

    COURIER CP

    200

    500

    CUNB

    CUPERTINO NATL BNCP

    200

    500

           

    D

         

    DEPCA

    DEPCORPCLA

    1000

    500

    DAIG

    DAIG CP

    200

    500

    DMCVA

    DAIRY MART STORES A

    500

    1000

    DMCVB

    DAIRY MART STORES B

    500

    1000

    DATX

    DATA TRANSLATION INC

    500

    1000

    DMAR

    DATAMARINEINTL INC

    200

    500

    DAVD

    DAVIDSON & ASSOCIATE

    500

    1000

    DAVX

    DAVOXCP

    500

    1000

    DOCP

    DELAWARE OTSEGO CP

    200

    500

    COTN

    DELTA & PINE LAND CO

    500

    1000

    DCPI

    DICK CLARK PROD INC

    500

    1000

    DGIC

    DONEGAL GROUP INC

    200

    500

    DOUG

    DOUGLAS AND LOMASON

    500

    1000

    DRCO

    DYNAMICS RESEARCH CP

    1000

    500

           

    E

         

    EACO

    EAENGRGSCITECH

    500

    1000

    ECCS

    E C C S INC

    200

    500

    EMCI

    EMCINSURANCEGP

    1000

    500

    EROQ

    ENVIROQCP

    1000

    500

    EZEMA

    EZEMINCCLA

    200

    500

    EBSI

    EAGLE BANCSHARES

    1000

    500

    EDNTF

    EDUNETICS LTD ORD

    500

    1000

    ELCN

    ELCOINDS INC

    1000

    500

    EFII

    ELEC IMAGING INC

    500

    1000

    ELRC

    ELECTRO RENT CP

    200

    500

    EGLS

    ELECTROGLAS INC

    500

    1000

    ELEK

    ELEK-TEKINC

    500

    1000

    EWST

    ENERGY WEST INC

    200

    500

    ENNI

    ENERGYNORTHINC

    1000

    500

    ENEX

    ENEX RESOURCE CP

    1000

    500

    EASI

    ENGINEERED SUPPORT

    500

    1000

    EVTC

    ENVIR TECHS INC

    500

    1000

    EVTCW

    ENVIR TECHS INC WTS

    500

    1000

    ESCA

    ESCALADE INC

    500

    1000

    ECGC

    ESSEX COUNTY GAS CO

    200

    500

    EVSI

    EVANS SYSTEMS INC

    500

    1000

    EVGM

    EVERGREEN MEDIA CP A

    500

    1000

    XLTCW

    EXCEL TECH WTS B

    500

    1000

           

    F

         

    FSCC

    F & C BANCSHARES INC

    1000

    500

    FMBK

    F&MBNCPINC

    200

    500

    FDPC

    FDPCP

    500

    1000

    FMCO

    FMS FINANCIALCP

    500

    200

    FAHNF

    FAHNESTOCKANV

    1000

    500

    FLOGE

    FALCON OIL GAS CO

    500

    1000

    FARL

    FARRELCP

    500

    1000

    TFSB

    FEDERAL SAV BK THE

    500

    200

    FSCR

    FEDERAL SCREW WORKS

    500

    200

    FSBI

    FIDELITY BANCORP INC

    500

    1000

    FIGI

    FIGGIEINTL CMN CL B

    500

    1000

    FBGIA

    FINL BENEFIT GP CL A

    500

    1000

    FIRE

    FINLINSTINSGPLTD

    500

    200

    FBNC

    FIRST BANCP TROY NC

    500

    200

    FBNKP

    FIRST BKS CUM PFDC

    200

    500

    FCTR

    FIRST CHARTER CP

    200

    500

    FCNCA

    FIRST CITIZENS CL A

    1000

    500

    FDEF

    FIRST FED SVGS LN OH

    1000

    500

    FFBC

    FIRST FINL BNCP (OH)

    500

    1000

    FFHS

    FIRST FRANKLIN CP

    500

    200

    FGHC

    FIRST GEORG HLDGS

    500

    200

    FFHP

    FIRST HARRISBURG BAN

    200

    500

    FLFC

    FIRST LIBERTY FTN

    1000

    500

    FMOR

    FIRST MTGECP

    1000

    500

    FMSB

    FIRST MUTUAL SAV BK

    500

    200

    FNGB

    FIRST NORTHERN SV BK

    1000

    500

    FOBBA

    FIRST OAK BROOK CL A

    200

    500

    SHEN

    FIRST SHENANGO BNCP

    500

    1000

    FUNC

    FIRST UNITED CORP

    200

    500

    FWBI

    FIRST WESTERN BNCP

    1000

    500

    FLSTP

    FLAGSTAR COS INC PFD

    500

    1000

    FAME

    FLAMEMASTER CP THE

    200

    500

    FOOT

    FOOTHILL INDEPENDENT

    1000

    500

    FORBP

    FORTUNE BNCP PFD A

    1000

    500

    FSBXW

    FRAMINGHAM SVG BK WT

    500

    1000

    FKFD

    FRANKFORDCPTHE

    200

    500

    FELE

    FRANKLIN ELEC INC

    500

    1000

    FRML

    FREYMILLER TRUCKING

    1000

    500

    FMDYW

    FUTUREMDA PUB ADR WT

    1000

    500

           

    G

         

    GZEA

    G Z A GEOENVIRONMENT

    500

    1000

    GAMBY

    GAMBROABBADR

    1000

    500

    GBAN

    GATEWAY BANCORP INC

    200

    500

    GNCI

    GEN NUTRITION COS

    500

    1000

    GCOR

    GENCORINDSINC

    500

    1000

    GARI

    GENERAL ATLANTIC RES

    1000

    500

    GENIW

    GENETICS INSTIT WTS

    500

    1000

    GMBS

    GEORGE MASON BKSH

    200

    500

    BOTX

    GEORGIA BONDED FIBER

    200

    500

    GIGA

    GIGA TRONICS INC

    200

    500

    GBCI

    GLACIER BANCORP

    1000

    500

    GEMS

    GLENAYRE TECHS INC

    500

    1000

    CHIK

    GOLDEN POULTRY CO

    500

    1000

    GBTVK

    GRANITE BRDCS NON VO

    500

    1000

    GLBCW

    GREAT LAKES WTS 95

    500

    1000

    GSOF

    GROUP I SOFTWARE INC

    200

    500

    GROV

    GROVE BANK

    500

    1000

    GYMB

    GYMBOREE CP (THE)

    500

    1000

           

    H

         

    HHOT

    HH OIL TOOL CO INC

    500

    200

    HUBC

    HUBCOINC

    500

    1000

    HMHC

    HALLMARK HLTHCARE A

    500

    1000

    HBHC

    HANCOCK HLDG CO

    1000

    500

    HVFD

    HAVERFIELD CP

    200

    500

    HAVTA

    HAVERTY FURNITURE A

    500

    200

    HELX

    HELIX TECHNOLOGY CP

    500

    1000

    HIFS

    HINGHAMINSTI SAVING

    1000

    500

    HWCC

    HOLLYWOOD CASINO A

    500

    1000

    HOLO

    HOLOPAK TECHS INC

    500

    1000

    HFMD

    HOME FED CP

    500

    1000

    HTWN

    HOMETOWN BNCP INC

    200

    500

    HZWV

    HORIZON BNCP INC

    200

    500

    HOSP

    HOSPOSABLE PROD INC

    1000

    500

    HUNT

    HUNTCO INC CL-A

    500

    1000

    HYDEA

    HYDE ATHLETIC INDS A

    500

    1000

    HYDEB

    HYDE ATHLETIC INDS B

    500

    1000

           

    I

         

    HVI

    IIVIINC

    500

    1000

    INTK

    INOTEKTECHCP

    500

    1000

    IPSCF

    IPSCOENC

    500

    200

    ISGTF

    ISGTECHINC

    1000

    500

    IVFAP

    IVFAMERINCPFD

    500

    1000

    IBSC

    IMAGE BUSINESS SYS

    200

    500

    IBCP

    MDEPBKCPMI

    1000

    500

    INDE

    INDEP TELEMEDIA GRP

    500

    1000

    IACI

    INDUSTRIAL ACOUSTICS

    500

    200

    IHIIW

    INDUSTRIAL HLDG WT A

    500

    1000

    IHEZ

    INDUSTRIAL HLDG WT B

    200

    500

    ISCX

    INDUSTRIAL SCI CORP

    500

    1000

    ISLS

    INTEL SURG LASERS

    500

    1000

    IPICZ

    INTERNEURON WTS B 95

    500

    1000

    IPPIF

    INTERPROVIN PIPE SYS

    500

    200

    ICSI

    INTL CONTAINER SYS

    500

    200

    DIN

    INTL JENSEN INC

    500

    1000

    INBS

    IOWA NATL BNKSHRS CP

    200

    500

    IRWN

    IRWESf FIN CP

    500

    1000

           

    J

         

    JGIN

    JG INDUSTRIES INC

    1000

    500

    JMARW

    JMARINDSINCWTS

    500

    1000

    MAYS

    JW MAYS INC

    500

    200

    JBIL

    JABIL CIRCUIT INC

    500

    1000

    JAYJQ

    JAY JACOBS INC

    500

    1000

    WILLA

    JOHN WILEY SONS CL A

    500

    1000

    JSBK

    JOHNSTOWN SAV BK

    500

    1000

           

    K

         

    KTII

    KTRON INTL INC

    1000

    500

    KTEL

    K-TEL INTL INC

    200

    500

    KVLM

    KEVLIN CP

    500

    1000

    KEQU

    KEWAUNEE SCIENTIFIC

    200

    500

    KCLCW

    KINDERCARE LEARNG WT

    500

    1000

    KRGCF

    KINROSS GOLD CORP

    500

    1000

    KREG

    KOLL REAL EST CL A

    500

    1000

           

    L

         

    lciip

    LCIINTLCONPFD

    500

    1000

    lch

    LCIINTLINC

    500

    1000

    LCSI

    LCSINDSINC

    500

    1000

    LXBK

    L S B BANCSHARES NC

    200

    500

    LVMHY

    LVMHMOETADR

    200

    500

    LCLD

    LACLEDE STEEL CO

    1000

    500

    LABK

    LAFAYETTE AMER BK&TR

    500

    1000

    LNCT

    LANCIT MEDIA PROD

    500

    1000

    LAUR

    LAUREL BANCORP INC

    500

    200

    LSSI

    LEASING SOLUTIONS

    500

    1000

    LEVL

    LEVEL ONE COMMUN INC

    500

    1000

    LIBT

    LIBERTY TECHS INC

    200

    500

    LDAKM

    LIDAKPHARMWTSB

    500

    1000

    LCUT

    LIFETIME HOANCP

    500

    1000

    LINB

    LIN BROADCASTING CP

    1000

    500

    LINN

    LINCOLN FOODSVC PROD

    500

    1000

    LNSB

    LINCOLN SAVINGS BANK

    500

    1000

    LIQB

    LIQUIBOXCP

    1000

    500

    LONDY

    LONDON INTL PLC ADR

    200

    500

    LEK

    LOWRANCE ELECTRONICS

    500

    1000

    LUFK

    LUFKININDS INC

    500

    1000

           

    M

         

    MARC

    MARC INC

    500

    1000

    MFST

    MFSCOMMCOINC

    500

    1000

    MGPR

    MG PRODUCT INC

    500

    1000

    MRVC

    MR V COMMUN INC

    500

    1000

    MRVCW

    M R V COMMUN INC WTS

    500

    1000

    MSBB

    MSB BANCORP INC

    1000

    500

    MKTAY

    MAKITA CP SPONS ADR

    500

    1000

    MANA

    MANATRON INC

    500

    1000

    MANU

    MANUGISTICS GROUP

    500

    1000

    MASB

    MASSBANKCP

    1000

    500

    MAXC

    MAXCO INC

    500

    1000

    MFLR

    MAYFLOWER COOP BK

    200

    500

    MOIL

    MAYNARD OIL CO

    1000

    500

    MTTX

    MECHANICAL TECH INC

    200

    500

    MEGZ

    MEGAHERTZ CORP

    500

    1000

    MEGT

    MEGATEST CP

    200

    500

    MMTCY

    MEMTEC LTD ADR NEW

    500

    200

    MBVT

    MERCHANTS BANCSHARES

    200

    500

    METS

    MET COIL SYSTEMS CP

    1000

    500

    MFIN

    METRO FDSfL CP

    200

    500

    MFCB

    MICHIGAN FMLCP

    200

    500

    MCHP

    MICROCHIP TECH INC

    500

    1000

    MFIC

    MICROFLUIDICS INTL

    500

    1000

    MIAMP

    MID AM CUM CNV PFD A

    1000

    500

    MIDS

    MID SOUTH INS CO

    1000

    500

    MIDC

    MIDCONNBANK

    1000

    500

    MSEX

    MIDDLESEX WATER CO

    500

    200

    MILW

    MILWAUKEE INS GROUP

    200

    500

    MMAN

    MINUTEMAN INTL INC

    200

    500

    MVBI

    MISSISSIPPI VALLEY

    1000

    500

    MODT

    MODTECHINC

    500

    1000

    MDYN

    MOLECULAR DYNAMICS

    500

    1000

    MMDI

    MOMENTUM CP

    500

    1000

    MAHI

    MONARCH AVALON INC

    200

    500

    MORP

    MOORE PRODUCTS CO

    500

    200

    MOTR

    MOTOR CLUB OF AMER

    1000

    500

    MPFC

    MOUNTAIN PARKS FIN

    500

    1000

    LABL

    MULTI COLOR CP

    500

    1000

           

    N

         

    NSAI

    N S A INTL INC

    500

    1000

    NSCC

    NSC CORPORATION

    500

    1000

    NSDB

    N S D BANCORP INC

    500

    200

    POPS

    NATL BEVERAGE CP

    500

    1000

    NBAK

    NATL BNCP OF ALASKA

    200

    500

    NCSIW

    NATL CONVENIEN WTS

    1000

    500

    NAIG

    NATL INSURANCE GP

    500

    1000

    NSSX

    NATL SANITARY SUPPLY

    200

    500

    TEAM

    NATL TECHTEAM INC

    500

    1000,

    MGX

    NETWORK IMAGING CP

    '500

    1000

    JJVIGXW

    NETWORK IMAGING WTS

    500

    1000

    NWTH

    NETWORTH INC

    500

    1000

    NOBH

    NOBILITY HOMES INC

    200

    500

    NOLD

    NOLAND CO

    200

    500

    NRTI

    NOONEY REALTY TRUST

    200

    500

    NSTR

    NORTHSTAR HLTH SERV

    500

    1000

    NWTL

    NORTHWEST TELEPROD

    500

    1000

    FERTP

    NU WEST INDS PF A

    200

    500

           

    O

         

    OESI

    O E S I POWER CP

    500

    1000

    OSFIF

    O S F INC

    1000

    500

    ORLY

    O'REILLY AUTOMOTIVE

    500

    1000

    OLCC

    OLYMPUS CAPITAL CP

    500

    1000

    OPTO

    OPTO MECHANIK INC

    200

    500

    ORTH

    ORTHOPEDIC TECH INC

    500

    1000

    OSBN

    OSBORN COMMUN CP

    200

    500

           

    P

         

    PDKLZ

    P D K LABS WTS B 97

    500

    1000

    PETM

    PET SMART INC

    500

    1000

    PFINA

    P F INDS INC A

    1000

    500

    PMRP

    P M R CP

    1000

    500

    PSUN

    PACIFIC SUNWEAR CAL

    200

    500

    PALM

    PALFED INC

    500

    1000

    PZZA

    PAPA JOHN'S INTL INC

    500

    1000

    PBFI

    PARIS BUSINESS FORMS

    200

    500

    PARC

    PARK COMMUN INC

    200

    500

    PATK

    PATRICK INDS INC

    500

    1000

    PMFG

    PEERLESS MFG CO

    1000

    500

    PTAC

    PENN TREATY AMER CP

    1000

    500

    PVIR

    PENN VIRGINIA CP

    1000

    500

    PFDC

    PEOPLES BANCORP

    200

    500

    PBCTP

    PEOPLES BK PFD (CT)

    500

    1000

    PFKY

    PEOPLES FIRST CP

    200

    500

    PENVF

    PHILIP ENVIRON INC

    1000

    500

    PNJI

    PHILLIPS & JACOBS

    500

    1000

    PCAM

    PHYSICIAN CP AMERICA

    500

    1000

    PICOA

    PHYSICIANS INS OH A

    500

    1000

    PMAN

    PIEDMONT MGMT CO INC

    1000

    500

    PIFI

    PIEMONTE FOODS INC

    200

    500

    SIGN

    PLASTI LINE INC

    1000

    500

    PLEN

    PLENUM PUBLISHING CP

    1000

    500

    POLK

    POLK AUDIO INC

    500

    200

    PREF

    PREFERRED ENTERTAIN

    500

    1000

    PBKC

    PREMIER BKSHS

    200

    500

    PRMA

    PRIMADONNA RESORTS

    500

    1000

    PNBC

    PRINCETON NATL BNCP

    500

    200

    PULS

    PULSE BANCORP INC

    500

    1000

           

    Q

         

    QSYS

    QUAD SYSTEMS CP

    200

    500

    QDRMY

    QUADRUM SVC FINL ADR

    500

    1000

    RCORF

    QUALITY DINO ENTMT

    500

    1000

    QRSI

    QUICKRESPONSE SVCS

    500

    1000

    QUIP

    QUIPP INC

    500

    200

           

    R

         

    RHNB

    RHNBCORP

    1000

    500

    RKSF

    R K S FINANCIAL GRP

    1000

    500

    RMPO

    RAMAPO FINANCIAL CP

    200

    500

    RARB

    RARITAN BANCORP INC

    500

    200

    RGEQ

    REGENCY EQUITIES CP

    500

    1000

    RESB

    RELIABLE FINL CP

    1000

    500

    ARBC

    REPUBLIC BANK CAL

    500

    200

    RSFC

    REPUBLIC SEC FIN CP

    500

    1000

    RESR

    RESEARCH INC

    200

    500

    RSND

    RESOUND CORP

    200

    500

    REXW

    REXWORKS INC

    500

    1000

    RFBC

    RIVER FOREST BNCP

    1000

    500

    ROBC

    ROBECINC

    500

    1000

    RCSBP

    ROCHESTER COM PFD B

    200

    500

    RFEDP

    ROOSEVELT FIN CV PFD

    1000

    500

    RBPAA

    ROYAL BANK PENN A

    1000

    500

    RULE

    RULE INDS INC

    500

    1000

           

    S

         

    sku

    SKILTD

    500

    1000

    SFGD

    SAFEGUARD HEALTH ENT

    500

    1000

    SATC

    SATCON TECH CP

    500

    1000

    SPEI

    SAVOY PICT ENTERTNMT

    500

    1000

    STIZ

    SCIENTIFIC TECH INC

    500

    1000

    SCGN

    SCIGENICS INC CLLBLE

    500

    1000

    SCOT

    SCOTT AND STRINGFELL

    500

    200

    SFLD

    SEAFIELD CAPITAL CP

    500

    1000

    SEAM

    SEAMAN FURNITURE CO

    500

    1000

    FOTO

    SEATTLE FJLMWORKS

    500

    1000

    SEWY

    SEAWAY FOOD TOWN INC

    200

    500

    SECD

    SECOND BANCORP INC

    500

    200

    SFBM

    SECURITY BANCORP

    1000

    500

    SENV

    SECURITY ENVIR SYS

    500

    1000

    SFSL

    SECURITY FIRST CP

    200

    500

    SLFX

    SELFIX INC

    1000

    500

    SSBC

    SHELTON BNCP INC

    500

    200

    SLFC

    SHORELINE FIN CP

    200

    500

    SFNCA

    SIMMONS FIRST NATL A

    500

    1000

    SIMM

    SIMMONS OUTDOOR CP

    1000

    500

    FISH

    SMALL'S OILFIELD

    500

    1000

    FISHW

    SMALL'S OILFIELD WTS

    500

    1000

    SWPA

    SOUTHWEST NATL CP

    500

    200

    SWWC

    SOUTHWEST WATER CO

    500

    1000

    SPEK

    SPEC S MUSIC INC

    500

    1000

    SPZN

    SPEIZMAN INDS INC

    500

    1000

    STCI

    STATION CASINOS INC

    500

    1000

    STEK

    STECK-VAUGHN PUBLISH

    200

    500

    SBIB

    STERLING BCSHSTX

    1000

    500

    STRB

    STROBER ORGANIZATION

    500

    1000

    SUBBA

    SUBURBAN BANCORP A

    1000

    500

    SMMT

    SUMMIT BANCORP WA

    1000

    500

    SUBI

    SUN BANCORP INC

    200

    500

    RAYS

    SUNGLASS HUT INTL

    500

    1000

    SCON

    SUPERCONDUCTOR TECHS

    200

    500

    SGTI

    SURGICAL TECH INC

    500

    1000

    SWSH

    SWISHER INTL INC

    500

    1000

           

    T

         

    TSINW

    TSICWTS 96

    200

    500

    Tsn

    TSIINC

    500

    1000

    TSRI

    TSRINC

    500

    1000

    TECN

    TECHNALYSIS CP

    1000

    500

    TCOMB

    TELE COMMUN INC B

    1000

    500

    TLAB

    TELLABS INC

    500

    1000

    TGIS

    THOMAS GROUP INC

    200

    500

    TCSFY

    THOMSONCSFADR

    500

    1000

    TOMKY

    TOMKINS PLC ADR

    500

    1000

    TELU

    TOTAL-TEL USA COMMUN

    500

    1000

    TTRRW

    TRACORINCWTSA

    200

    500

    TWBC

    TRANSWORLD BNCP

    200

    500

    TRIP

    TRIANGLE PACIFIC CP

    500

    1000

    TCBK

    TRICO BANCSHARES

    500

    200

    TRCD

    TRICORD SYSTEMS INC

    200

    500

    TCNJ

    TRUST CO OF NJ

    500

    1000

           

    U

         

    UNSL

    U N S L FIN CP

    500

    200

    USPC

    U S PAGING CP

    500

    1000

    ULTK

    ULTRAKINC

    500

    1000

    UNDF

    UNEFLEXINC

    500

    1000

    UNFR

    UNIFORCE TEMP PERSNL

    500

    1000

    UBSC

    UNION BKSHS LTD

    1000

    500

    UCFC

    UNITED COS FINL CORP

    500

    1000

    UNSA

    UNITED FIN CP S C

    500

    1000

    UFCS

    UNITED FIRE CASUALTY

    200

    500

    UNBJ

    UNITED NATL BNCP

    500

    200

    UBMT

    UNITED SAV BK F A MT

    500

    1000

    UTVI

    UNITED TELEVISION

    500

    1000

           

    V

         

    VSBC

    VSBBNCPINC

    500

    1000

    VENT

    VENTURIANCP

    500

    200

    VRSA

    VERSA TECH INC

    1000

    500

    VICL

    VICALINC

    500

    1000

    VIDE

    VIDEO DISPLAY CP

    1000

    500

    VOLT

    VOLT INFO SCIENCES

    1000

    500

           

    W

         

    WRTE

    WRTENERGYCP

    500

    1000

    WSMP

    WSMPINC

    200

    500

    WATS

    WATSON PHARM INC

    500

    1000

    WAVR

    WAVERLYINC

    500

    1000

    WELL

    WELLCARE MGMT GRP

    500

    1000

    WELS

    WELLSTEADINDS INC

    1000

    500

    WSBC

    WESBANCOINC

    500

    1000

    WBAN

    WEST COAST BNCP (FL)

    200

    500

    WMBS

    WEST MASS BANKSHARES

    500

    200

    WSBK

    WESTERN BANK OREGON

    500

    1000

    WWTR

    WESTERN WATER CO

    500

    1000

    WCLX

    WISCONSIN CENTRAL

    500

    1000

    wan

    WORKINGMENS CAP HLDG

    500

    200

           

    X

         

    XPLR

    XPLORCP

    200

    500

           

    Y

         

    YSCO

    YES CLOTHING CO

    500

    1000

           

    Z

         

    ZSEV

    Z SEVEN FUND INC THE

    200

    500

    ZALEW

    ZALECPWTSA

    1000

    500

    ZING

    ZING TECHS INC

    1000

    500

    ZOLL

    ZOLL MEDICAL CP

    500

    1000

    ZOLT

    ZOLTEKCOSINC

    500

    1000