Notice to Members 98-44

SOES Tier-Size Levels Set To Change July 1, 1998

Published Date:

SUGGESTED ROUTING

Legal & Compliance
Operations
Systems
Trading



Executive Summary

Effective July 1, 1998, tier sizes for 520 Nasdaq National Market® securities will be revised in accordance with National Association of Securities Dealers, Inc. (NASD®) Rule 4710(g).

For more information, please contact Nasdaq® Market Operations at (203) 378-0284.

Description

Under Rule 4710, the maximum Small Order Execution SystemSM (SOESSM) order size for a Nasdaq National Market security is 1,000, 500, or 200 shares, depending on the trading characteristics of the security. The Nasdaq Workstation IITM indicates the maximum SOES order size for each Nasdaq National Market security in its bid/offer quotation display. The indicator "NM10," "NM5," or "NM2" is displayed to the right of the security name, corresponding to a maximum SOES order size of 1,000, 500, or 200 shares, respectively.

The criteria for establishing SOES tier sizes are as follows:

  • A 1,000-share tier size is applied to those Nasdaq National Market securities that have an average daily non-block volume of 3,000 shares or more a day, a bid price that is less than or equal to $100, and three or more market makers.
  • A 500-share tier size is applied to those Nasdaq National Market securities that have an average daily non-block volume of 1,000 shares or more a day, a bid price that is less than or equal to $150, and two or more market makers.
  • A 200-share tier size is applied to those Nasdaq National Market securities that have an average daily non-block volume of less than 1,000 shares a day, a bid price that is less than or equal to $250, and two or more market makers.

In accordance with Rule 4710, Nasdaq periodically reviews the SOES tier size applicable to each Nasdaq National Market security to determine if the trading characteristics of the issue have changed so as to warrant a tier-size adjustment. Such a review was conducted using data as of March 31, 1998, pursuant to the aforementioned standards. The SOES tier-size changes called for by this review are being implemented with three exceptions.

  • First, issues were not permitted to move more than one tier-size 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 NASD was attempting to maintain adequate public investor access to the market for issues in which the tier-size level decreased and to help ensure the ongoing participation of market makers in SOES for issues in which the tiersize level increased.
  • Second, for securities priced below $1 where the reranking called for a reduction in tier size, the tier size was not reduced.
  • Third, for the top 50 Nasdaq securities based on market capitalization, the SOES tier sizes were not reduced, regardless of whether the reranking called for a tier-size reduction.

In addition, with respect to initial public offerings (IPOs), the SOES tiersize reranking procedures provide that a security must first be traded on Nasdaq for at least 45 days before it is eligible to be reclassified.

Thus, IPOs listed on Nasdaq within the 45 days prior to March 31, 1998, were not subjected to the SOES tiersize review.

Following is a listing of the 520 Nasdaq National Market issues that will require an SOES tier-level change on July 1, 1998.


Nasdaq National Market SOES Tier-Size Changes
All Issues In Alphabetical Order By Security Symbol
(Effective July 1, 1998)
Symbol Security Name Old Tier Level New Tier Level
A
ABFSP ARKANSAS BEST CV P 500 200
ACAS AMER CAP STRATEGIES 500 1000
ACMR A C MOORE ARTS SA 500 1000
ACMTA A C M A T CP CL A 200 500
ACSY ACSYS INC 200 500
ACYT AUTOCYTE INC 500 1000
ADECY ADECCO SA ADR 500 1000
AEHCF ASIA ELECTRONICS HLD 500 1000
AFCO APPLIED FILMS CORP 200 500
AFED AFSALA BANCORP INC 1000 500
AIFC AMER INDEMNITY FIN 1000 500
AIII AUTOLOGIC INFO INT 500 1000
AKZOY AKZO NOBEL NV ADR 1000 500
ALFC ALLIED LIFE FINL C 500 1000
ALSI ADVANTAGE LEARNING 500 1000
ALYD ALYDAAR SOFTWARE 200 500
AMBC AMER BNCP OHIO 1000 500
AMCC APPLIED MICRO 200 500
AMCE AMER CLAIMS EVALUA 1000 500
AMIE AMBASSADORS INTL I 500 1000
AMPI AMPLICON INC 500 1000
AMSFF AMERICAN SAFETY 200 500
AMSGA AMSURG CORP CL A 200 500
AMSGB AMSURG CORP CL B 200 500
ANDR ANDERSEN GROUP INC 1000 500
APPM AMERICAN PHYS PART 200 500
APSOP APPLE SOUTH FIN PFD 200 500
APWR ASTROPOWER INC 200 500
ARTI ARTISAN COMPONENTS 200 500
ASFD AUTHENTIC SPEC FOODS 500 1000
ASFN ALLSTATE FINL CP 500 1000
ASII AIRPORT SYS INTL I 1000 500
AVTM AVTEAM INC 500 1000
B
BACU BACOU USA INC 500 1000
BASI BIOANALYTICAL SYST 200 500
BBHF BARBERS HAIRSTYLIN 500 1000
BBQZY BARBEQUES GAL ADS 500 1000
BCICF BELL CANADA INTL I 500 1000
BDMS BIRNER DENTAL 200 500
BDOG BIG DOG HLDGS INC 500 1000
BEDS BRIDGESTREET ACCOM 500 1000
BEERF BIG ROCK BREWERY LTD 1000 500
BEIQ BEI TECHS INC 500 1000
BERW BERINGER WINE EST 500 1000
BESIF B E SEMICON ORD SHRS 1000 500
BEST BEST SOFTWARE INC SE 500 1000
BFEN B F ENTERPRISES IN 500 200
BFOH BANCFIRST OHIO CP 1000 500
BFSB BEDFORD BCSHS INC 500 1000
BLCA BOREL BK & TR (CA) 200 500
BLDPF BALLARD POWER SYST 1000 500
BLPG BORON LEPORE & ASSOC 500 1000
BMCCP BANDO MCGLOC PFD A 500 200
BNBCP B N B CAP TR PFD 200 500
BNHN BENIHANA INC 1000 500
BNHNA BENIHANA INC A 1000 500
BNSC BANK OF SANTA CLAR 200 500
BONS BMJ MEDICAL MGMT 200 500
BOOT LACROSSE FOOTWEAR 500 1000
BORAY BORAL LTD ADS 500 200
BOYD BOYD BROS TRANS IN 1000 500
BPOPP POPULAR INC PFD A 500 1000
BRHZ BRIGHT HORIZONS 500 1000
BTIM BIOTIME INC 500 1000
BUCK BUCKHEAD AMERICA C 500 1000
BUYR CONS CAPITAL CORP 200 500
BWSI BLUE WAVE SYS 500 1000
C
CABL CABLE MICHIGAN INC 500 1000
CAFI CAMCO FINANCIAL CP 500 1000
CANNY CANON INC ADR 500 1000
CAPS CAPITAL SAV BNCP I 1000 500
CARS CAPITAL AUTO SBI 200 500
CASH FIRST MIDWST FIN I 500 1000
CASL CASTLE DENTAL CTRS 500 1000
CASS CASS COMMERCIAL CO 500 1000
CAWW CULTURALACCESS WW 200 500
CBCI CALUMET BANCORP IN 1000 500
CBCLP CAPITOL TRUST I PF 200 500
CBIV COMMUNITY BANCSHAR 500 1000
CCBP COMM BANCORP INC 200 500
CCRD CONCORD COMMUNIC SA 500 1000
CDNW CDNOW INC 200 500
CELS COMMNET CELL 200 500
CERB C E R B C O INC 1000 500
CFBXL CFB CAPITAL I CUM 1000 500
CFBXZ CFB CAPITAL II 200 500
CFCI C F C INTL INC 1000 500
CFIN CONSUMERS FIN CP 500 1000
CFNC CAROLINA FINCORP I 500 1000
CHANF CHANDLER INS CO LTD 500 1000
CHCO CITY HOLDING CO 500 1000
CHERA CHERRY CP CL A 500 1000
CHNL CHANNELL COML CORP 500 1000
CHRW C.H. ROBINSON WW SA 500 1000
CINS CIRCLE INCOME SHAR 1000 500
CKEYF CROSSKEYS SYS 200 500
CLBK COMMERCIAL BANKSHR 1000 500
CLGYW CELLEGY PHARM INC WT 1000 500
CNBC CENTER BANCORP INC 200 500
CNBF C N B FINANCIAL CP 200 500
CNBT CITIZENS NATL TX SR 500 1000
CNDO CRESCENDO PHARM CO 500 1000
CNDR CONDOR TECH SOLU 200 500
CNGL CONTL NATURAL GAS 1000 500
CNNG CONNING CORP 200 500
CNTL CANTEL INDS INC 500 1000
COGIF C O G N I C A S E SA 500 1000
COPI CRESCENT OPERATING 500 1000
CPLNY CONCORDIA PAPER ADS 500 1000
CPTI COMPASS PLASTICS 500 1000
CRGO MOTOR CARGO INDS 200 500
CRRC COURIER CP 1000 500
CRSB CRUSADER HLDG CORP 200 500
CRXA CORIXA CORP SE 500 1000
CSWC CAPITAL SOUTHWEST 500 200
CTAC 1-0 CONTACTS INC 200 500
CTBC CTB INTL CORP 500 1000
CTBP COAST BANCORP 500 1000
CTHR C3 INC 500 1000
CTRIS CLEVETRUST RLTY SBI 500 1000
CVAL CHESTER VALLEY BNC 200 500
CVBK CENTRAL VA BKSHS I 200 500
CWBC COMMUNITY WEST 500 1000
CWST CASELLA WASTE SYS 500 1000
D
DCBI DELPHOS CITIZENS B 500 1000
DCPI DICK CLARK PROD IN 500 200
DENT DENTAL CARE ALLINC 500 1000
DEVC DEVCON INTL CP 1000 500
DGAS DELTA NATURAL GAS 1000 500
DGIC DONEGAL GROUP INC 200 500
DINE ADVANTICA RES 200 500
DINEW ADVANTICA WTS 200 500
DKWD D & K HEALTHCARE 500 1000
DMSC DISPATCH MGMT SVCS 200 500
DNFCP D & N CAP CORP PFD 1000 500
DNLI DENALI INC 200 500
DTRX DETREX CP 500 1000
DXPE DXP ENTERPRISES IN 200 500
E
ECTLW ELCOTEL INC WTS 200 500
EDAC EDAC TECH CP 500 1000
EDBR EDISON BROS STORES 200 500
EDIN EDUCATIONAL INSIGH 1000 500
EDUT EDUTREK INTL INC 500 1000
ELIX ELECTRIC LIGHTWAV 200 500
ELRWF ELRON ELEC INDS WTS 500 200
ENGEF ENGEL GNRL DEV SE 500 1000
ENGSY ENERGIS ADS 200 500
ENSI ENERGYSOUTH INC 500 1000
EONE ENVIRONMENT ONE CP 500 1000
EPTG E P L TECH INC 500 1000
EQUUS EQUUS GAMING UTS A 1000 500
ESATY ESAT TELCOM GR ADR 500 1000
ESBFP PENNFIRST PFD 200 500
ESREF E S G RE LTD 200 500
ETFS EAST TEXAS FIN SVC 200 500
EXEC EXECUSTAY CORP 500 1000
EYES VISION TWENTY-ONE 500 1000
F
FACT FIRST ALBANY COS I 500 1000
FAMCK FEDERAL AGRIC MORT C 1000 500
FARO FARO TECH INC 500 1000
FBAYF FRISCO BAY INDUS 500 1000
FBER 1ST BERGEN BANCORP 500 1000
FBHC FORT BEND HLDG COR 500 1000
FBNC FIRST BANCP TROY N 200 500
FBNKO FIRST PFD CAP TR PFD 1000 500
FBSI FIRST BANCSHARES I 200 500
FCBF F C B FINANCIAL CP 1000 500
FCFCO FIRSTCITY SPCL PFD 200 500
FCGI FIRST CONSULTING 200 500
FDJA FAROUDJA INC 500 1000
FELE FRANKLIN ELEC INC 1000 500
FFFLP FIDELITY CAP TR I 200 500
FFHH FSF FINANCIAL CP 1000 500
FFLC FFLC BNCP INC 1000 500
FKFS FIRST KEYSTONE FIN 500 1000
FKKY FRANKFORT FRST 1000 500
FLWR CELEBRITY INC 1000 500
FLXI FLEXIINTL SOFTWARE 200 500
FMAX FRANCHISE MORTGAGE 200 500
FNBF FNB FINANCIAL SVC 200 500
FNBN F N B CORPORATION 200 500
FNCE FIRST INTL BANCORP 500 1000
FOBC FED ONE BANCORP IN 500 1000
FOCL FOCAL INC 200 500
FORSF FORSOFT LTD 500 1000
FORTY FORMULA SYS ADR 500 1000
FRND FRIENDLY ICE CRM 500 1000
FRPP F R P PROPERTIES I 200 500
FSACF FIRST SO AFRICA CP 500 1000
FSFF FIRST SECURITYFED 500 1000
FSLB FIRST STERLING BKS 500 1000
FSPG FIRST HOME BNCP IN 500 1000
FSVBP FRANKLIN FIN PD A >#/td> 200 500
FTCG FIRST COLONIAL GP 500 200
FTFN FIRST FIN CP (RI) 200 500
FUSNR FUSION SYSTEMS CVR 500 1000
G
GABC GERMAN AMER BANCOR 200 500
GBCOB GREIF BROS CP CL B 200 500
GBTVP GRANITE BRDCT CP PFD 500 1000
GENBB GENESEE CP B 200 500
GETY GETTY IMAGES INC 200 500
GFLSP GCB CAP TRUST PFD 500 200
GGEN GALAGEN INC 500 1000
GICOF GILAT COMMUN LTD 200 500
GLDBP GBCI CAP TR PFD 200 500
GLGC GENE LOGIC INC 200 500
GMCC GEN MAGNAPLATE CP 500 1000
GMTC GAMETECH INTL INC 200 500
GNCNF GORAN CAPITAL INC 500 1000
GRTS GART SPORTS CO 200 500
GSBC GREAT SOUTHERN BNC 1000 500
GSOF GROUP I SOFTWARE 500 200
GTSG GLOBAL TELESYSTEMS 200 500
H
HABC HABERSHAM BANCORP 200 500
HACH HACH CO 1000 500
HACHA HACH COMPANY CL A 500 1000
HAYZ HAYES CORP S2S3 200 500
HBNK HIGHLAND FEDERAL B 200 500
HDLD HEADLANDS MTG CO 200 500
HDVS H. D. VEST INC 500 1000
HFBC HOPFED BANCORP INC 200 500
HFFC H F FINANCIAL CP 500 1000
HFWA HERITAGE FINL CP 200 500
HHLAF HURRICANE HYDROCAR 200 500
HIFS HINGHAM INSTI SAVI 200 500
HMLD HOMELAND HLDG CORP 500 1000
HOLT HOLT'S CIGAR HLDGS 200 500
HPAC HAWKER PACIFC AERO 200 500
HPBC HOME PORT BNCP INC 500 1000
HRBF HARBOR FED BNCP IN 1000 500
HRLYW HERLEY INDS WTS 200 500
HSDC HEALTH SYS DESIGN 1000 500
HWLD HEALTHWORLD CORP 200 500
HYBR HYBRID NETWORKS 500 1000
HZWV HORIZON BNCP INC 1000 500
I
IACO INFORMATION ADVANT 200 500
IAIS INTL AIRCRAFT INV 500 1000
IBHVF INTL BRIQUETTES 200 500
ICMI IMPERIAL CREDIT SA 500 1000
IHIIW INDUSTRIAL WTS D 200 500
IINT INDUS INTL INC 500 1000
ILDCY ISRAEL DEVEL LTD ADR 500 200
ILFO IL FORNAIO (AMER) CP 500 1000
IMAG IMAGEMAX INC 200 500
IMSX INTL MANUFACTURIN SA 500 1000
INSL INSILCO CP 500 1000
INTG INTERGROUP CP THE 500 200
IRWNP IRWIN FIN CUM TR P 500 1000
ISAC IC ISAACS & CO 200 500
ITCD ITC DELTACOM INC 500 1000
ITIC INVESTORS TITLE CO 1000 500
ITSW INTL TOTAL SVCS 500 1000
ITVU INTERVU INC 200 500
IUBC INDIANA UNITED BNC 200 500
IUBCP IUB CAP TRUST PFD 200 500
IVISF ICOS VISION SYST 200 500
IVTC INNOVATIVE VALVE 500 1000
J
JANNF JANNOCK LIMITED 1000 500
JCORM JACOR COMM WTS 200 500
JDEC J D EDWARDS & CO 500 1000
JEVC JEVIC TRANS INC SA 500 1000
JPST JPS TEXTILE GRP 200 500
K
KAYE KAYE GROUP INC 1000 500
KEQU KEWAUNEE SCIENTIFI 1000 500
KLLM K L L M TRANSPORT 1000 500
KNDL KENDLE INTL INC 500 1000
KOFX KOFAX IMAGE PRODS SA 500 1000
KOGCP KELLEY OIL & GAS P 200 500
KTIC KAYNAR TECHS INC 1000 500
KWIC KENNEDY-WILSON INT 500 1000
L
LABL MULTI COLOR CP 500 1000
LAIX LAMALIE ASSOCIATES 500 1000
LDMK LANDMARK SYSTEMS 200 500
LFED LEEDS FED SAV BANK 500 200
LGCB LONG ISLAND COMM 200 500
LGTY LOGILITY INC SA 500 1000
LIFC LIFECELL CP 500 1000
LIHRY LIHIR GOLD LTD ADR 1000 500
LIQB LIQUI BOX CP 500 1000
LITE VARI-LITE INTL SA 500 1000
LKFN LAKELAND FINL CP 200 500
LNCC LINC CAPITAL 500 1000
LNDL LINDAL CEDAR HOMES 1000 500
LOILY LUNDIN OIL GDS 200 500
LTCW LET'S TALK CELL 200 500
LXBK L S B BANCSHARES N 500 1000
LYNX LYNX THERAPEUTICS 200 500
M
MACC MACC PRIVATE EQU I 200 500
MAHI MONARCH AVALON INC 1000 500
MALT LION BREWERY INC T 1000 500
MARN MARION CAP HLDGS I 1000 500
MASB MASSBANK CP 1000 500
MBIO MEGABIOS CORP 500 1000
MBLF M B L A FINL CORP 200 500
MBRK MEADOWBROOK REHAB 500 1000
MBSI MILLER BUILDING SY 1000 500
MCCL MCCLAIN INDUSTRIES 500 1000
MCHM MACROCHEM CORP 500 1000
MDWY MIDWAY AIRLINES CP 200 500
METNF METRONET NON-VTG B 200 500
MEXP MILLER EXPLORATION 200 500
MFNX METROMEDIA FIBER 500 1000
MGNB MAHONING NATL BCP 200 500
MHCO MOORE HANDLEY INC 1000 500
MICTF MICROCELL TELECOM 500 1000
MIGI MERIDIAN INS GP IN 1000 500
MILK BROUGHTON FOODS 200 500
MKFCF MACKENZIE FIN CP 500 200
MMCN M M C NETWORKS 500 1000
MOYC MOYCO TECH INC 500 1000
MPWG MPW INDUSTRIAL SVS 200 500
MRCY MERCURY COMP SYS 200 500
MRET MERIT HOLDING CP 500 1000
MROC M O N R O C INC 1000 500
MSDX MASON-DIXON BCSHS 500 1000
MSEX MIDDLESEX WATER CO 1000 500
MTIC M T I TECH CORP 500 1000
MTMS MADE2MANAGE SYS 200 500
MUEL MUELLER PAUL CO 500 200
MUSE MICROMUSE INC 200 500
MVBI MISSISSIPPI VALLEY 500 1000
MVII MARK VII INC 1000 500
MWHX MARKWEST HYDROCARB 500 1000
MWRK MOTHERS WORK INC 1000 500
MYST MYSTIC FINANCIAL 200 500
N
NANX NANOPHASE TECHS CP 200 500
NARA NARA BANK N A 200 500
NASI NORTH AMERN SCI 200 500
NBAK NATL BNCP ALASKA 500 200
NBSI NORTH BSCHS INC 500 1000
NCES NOVACARE EMPL SVCS 500 1000
NERAY NERA AS ADR 500 1000
NFLIW NUTRITION FOR LFE WT 500 1000
NICH NITCHES INC 1000 500
NMTXZ NOVAMETRIX WTS B 1000 500
NOVI NOVITRON INTL INC 500 1000
NRCI NATIONAL RESEARCH SA 500 1000
NRIM NORTHRIM BANK 1000 500
NSCC N S C CORPORATION 500 1000
NSCF NORTHSTAR COMPUTER 1000 500
NSDB N S D BANCORP INC 200 500
NSOL NETWORK SOLUTIONS 500 1000
NSPR INSPIRE INSURANCE 500 1000
NTAWF NAM TAI ELEC WTS 200 500
NTKI N2K INC 500 1000
NWCM NEWCOM INC 500 1000
NWCMW NEWCOM INC WTS 500 1000
NXLK NEXTLINK COMM CL A 500 1000
NYMXF NYMOX PHARM CORP 200 500
NZSKY SKY NETWORK TV ADS 200 500
O
OAOT O A O TECH SOL 500 1000
ODFL OLD DOMINION FREIG 500 1000
OHSL O H S L FINL CORP 200 500
OKSB SOUTHWEST BNCP INC 1000 500
OMGA OMEGA RESEARCH SR 500 1000
OMNI OMNI ENERGY SVCS 200 500
ORAL ORTHALLIANCE INC 500 1000
ORCI OPINION RESEARCH C 500 1000
OSIS O S I SYSTEMS INC SA 500 1000
OSIX OUTSOURCE INTL 500 1000
OTFC OREGON TRAIL FINL SR 500 1000
OTRX O T R EXPRESS INC 500 1000
OWOS OWOSSO CP 1000 500
OYOG OYO GEOPSPACE CP 200 500
P
PACI PRECISION AUTO 500 1000
PACK GIBRALTAR PKG GP I 1000 500
PAMM PACIFICAMERICA MON 500 1000
PATH AMERIPATH INC 500 1000
PBKBP PEOPLES CAP TR PFD 1000 500
PCCI PACIFIC CREST CAP 500 1000
PCCIP PCC CAPITAL I PFD 200 500
PEBO PEOPLES BNCP INC 500 1000
PEDE GREAT PEE DEE BCP 200 500
PFACP PRO-FAC COOP PFD A 1000 500
PFCO PAULA FINANCIAL 500 1000
PFDC PEOPLES BANCORP 500 200
PFSCF POSITRON FIBER SYS 500 1000
PGEI PETROGLYPH ENERGY SA 500 1000
PGLD PHOENIX GOLD INTL 1000 500
PGNX PROGENICS PHARM 200 500
PHCC PRIORITY HLTHCARE 500 1000
PHFCP PITT HOME CAP TR 200 500
PHSB PEOPLES HOME SVGS 1000 500
PHSYP PACIFICARE CV PFD 500 200
PLCE THE CHILDREN'S PLACE 500 1000
PLEN PLENUM PUBLISHING 500 1000
PMFRA PENNSYLVANIA MAN 200 500
PMORW PHAR-MOR INC WTS 200 500
POPEZ POPE RESOURCE UTS LP 200 500
POWI POWER INTEGRATN 200 500
PPCCP PEOPLE'S PFD CAP C 500 1000
PPLS PEOPLES BK CP OF I 500 200
PRBZ PROBUSINESS SVCS INC 500 1000
PRFN PRESTIGE FIN CP 500 1000
PRHC PROVINCE HEALTHCR 200 500
PRTG PRT GROUP 200 500
PSEM PERICOM SEMICONDUC 500 1000
PSMT PRICESMART INC 500 1000
PTVL PREVIEW TRAVEL INC 200 500
PVII PRINCETON VIDEO 200 500
PVSW PERVASIVE SOFTWARE 500 1000
PWCC POINT WEST CAP CP 500 1000
PWER POWER-ONE INC SR 500 1000
PWHS PAPER WAREHOUSE 200 500
R
RARB RARITAN BANCORP IN 500 200
RBCF REPUBLIC BKG CP FL 200 500
RBKV RESOURCE BANK 200 500
RCNC RCN CORPORATION 500 1000
RDCMF RADCOM LTD 500 1000
RDGE READING ENT INC 1000 500
REFR RESEARCH FRONTIERS 500 1000
RENX RENEX CORPORATION 500 1000
REPBP RBI CAP TR I PFD 500 1000
RESR RESEARCH INC 1000 500
RGCO ROANOKE GAS CO 500 1000
RLCO REALCO INC 1000 500
RNWK REALNETWORKS INC 200 500
ROAC ROCK OF AGES CORP 500 1000
ROCLF ROYAL OLYMPIC CRU 200 500
ROSI USA FLORAL PRODUCT 500 1000
RSLCF RSL COMMUNICATION SR 500 1000
RTRO RETROSPETTIVA INC 500 1000
RTROW RETROSPETTIVA WTS 500 1000
S
SASR SANDY SPRING BNCP 500 1000
SBGIP SINCLAIR BRD PFD SE 500 1000
SBHC SECURITY BK HLDG C 500 1000
SBIBP STERLING CAP TR PF 200 500
SCBHF STIRLING COOKE BRN 200 500
SCMM S C M MICROSYS SA 500 1000
SDCOZ SPIROS DEV CP UTS 200 500
SECD SECOND BANCORP 500 1000
SENEB SENECA FOODS CP B 200 500
SEYE SIGNATURE EYEWEAR 500 1000
SFFB SOUTHERN FIN BNC 500 1000
SFNCA SIMMONS FIRST NATL A 500 1000
SFSW STATE FINL SVCS CL 500 1000
SGDE SPORTSMEN'S GUIDE 200 500
SGNS SIGNATURE INNS INC 500 1000
SHEN FIRST SHENANGO BNC 500 1000
SHLL SHELLS SEAFOOD RES 500 1000
SIXR SIX RIVERS NAT BK 500 1000
SJNB S J N B FINANCIAL 1000 500
SKAN SKANEATELES BANCP 500 1000
SLFC SHORELINE FIN CP 500 1000
SLFI STERLING FINL CP 200 500
SLGN SILGAN HOLDINGS 500 1000
SMEDF SMED INTL INC 200 500
SMPX SYMPHONIX DEVICES 200 500
SOMN SOMNUS MEDICAL 500 1000
SPLI SPECTRA-PHYSICS 200 500
SPLN SPORTSLINE USA INC 500 1000
SPRI SPR INC SR 500 1000
SRCEO 1ST SOURCE CAP II 500 200
STGC STARTEC GLOBAL COM 500 1000
STRZ STAR BUFFET INC 500 1000
STVI S T V GROUP INC 200 500
SVECF SCANVEC CO LTD 500 1000
SXNB SUCCESS BANCSHRS 500 1000
T
TAVA T A V A TECH 200 500
TCBK TRICO BANCSHARES 500 1000
TCICP TCI COMMUN PFD A 1000 500
TCIVA TELE-COM TCI VENT A 500 1000
TCIX TOTAL CONTAINMENT 500 1000
TCMS TRANSCOASTAL MAR 500 1000
TFCO TUFCO TECHS INC 500 1000
TGNT TELIGENT INC 200 500
TIER TIER TECHS CL B 200 500
TIMBZ US TIMBERLAND UTS 500 1000
TKGFA TEKGRAF INC CL A 500 1000
TKGFW TEKGRAF INC WTS 500 1000
TKTL TRACK 'N TRAIL SA 500 1000
TMAX TOYMAX INTL INC 500 1000
TONSF NOVAMERICAN STEEL 500 1000
TPNZ TAPPAN ZEE FIN 500 1000
TREVW TREEV INC WTS 200 500
TRKA TRAK AUTO CP 500 200
TRMS TRIMERIS INC SA 500 1000
TRNS TRANSMATION INC 500 1000
TRVL TRAVEL SVCS INTL I 500 1000
TSBK TIMBERLAND BANCORP 200 500
TSIC TROPICAL SPORTSWR 500 1000
TSSS TRIPLE S PLASTICS 1000 500
TWFC T & W FINANCIAL CP 500 1000
U
UBCD UNIONBANCORP INC 1000 500
UBIX UBICS INC 500 1000
UCBC UNION COMM BANCORP 200 500
UFAB UNIFAB INTL INC 500 1000
UFPT U F P TECH INC 1000 500
UNEWY UNITED NEWS & MEDIA 200 500
UPCPO UNION PLANTERS PFD E 500 200
UPEN UPPER PENINSULA ER 1000 500
USNC U S N COMM INC 200 500
USVI U S VISION INC 200 500
USWB US WEB CORPORATION 200 500
UTCIW UNIROYAL TECH CP WTS 500 200
V
VBNJ VISTA BANCORP INC 500 1000
VDRY VACU DRY CO 1000 500
VENT VENTURIAN CP 200 500
VGCOW VIRGINIA GAS WTS 500 200
VNWK VISUAL NETWORKS 200 500
VRBA VRB BANCORP 500 1000
VRSN VERISIGN INC 200 500
VTNAF VITRAN CP INC 200 500
VTRAO VBC CAPITAL I CAP 200 500
VYSI VYSIS INC 200 500
W
WABC WESTAMERICA BNCP 500 1000
WASH WASHINGTON TRUST 1000 500
WEYS WEYCO GP INC 500 200
WHCP WHITE CAP INDS 500 1000
WHRC WHITE RIVER CP 500 1000
WINS STEVEN MYERS ASSOC 200 500
WLSNW WILSONS LEATHER WT 500 1000
WMFG WMF GROUP LTD 200 500
WSBI WARWICK COMMUN 200 500
WYNT WYANT CORP 500 1000
X
XLSW EXCEL SWITCHING CP 500 1000
XOMD XOMED SURG PRODS I 500 1000
XTRM BRASS EAGLE INC 200 500
Z
ZING ZING TECHS INC 1000 500
ZMTX ZYMETX INC 500 1000