Notice to Members 98-76

Maximum SOES Order Sizes Set To Change October 1, 1998

Published Date:

SUGGESTED ROUTING

Legal & Compliance
Operations
Systems
Trading


Executive Summary

Effective October 1, 1998, the maximum Small Order Execution SystemSM (SOESSM) order sizes for 488 Nasdaq National Market® (NNM) 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 SOES order size for an NNM security is 1,000, 500, or 200 shares, depending on the trading characteristics of the security. The Nasdaq Workstation II® (NWII) indicates the maximum SOES order size for each NNM security. The indicator "NM10," "NM5," or "NM2" displayed in NWII corresponds to a maximum SOES order size of 1,000, 500, or 200 shares, respectively.1

The criteria for establishing maximum SOES order sizes are as follows:

(1) a 1,000-share maximum order size shall apply to NNM securities on SOES with an average dailynon-block volume of 3,000 sharesor more a day, a bid price of less than or equal to $100, and three or more Market Makers;
(2) a 500-share maximum order size shall apply to NNM securities on SOES with an average daily nonblock volume of 1,000 shares or more a day, a bid price of less than or equal to $150, and two or more Market Makers; and
(3) a 200-share maximum order size shall apply to NNM securities with an average daily non-block volume of less than 1,000 shares a day, a bid price of less than or equal to $250, and two or more Market Makers.

In accordance with Rule 4710, Nasdaq periodically reviews the maximum SOES order size applicable toeach NNM security to determine if the trading characteristics of the issue have changed so as to warrant an adjustment. Such a review was conducted using data as of June 30, 1998, pursuant to the aforementioned standards. The maximum SOES order-size changes called for by this review are being implemented with three exceptions.

  • First, issues were not permitted to move more than one size level. For example, if an issue was previously categorized in the 1,000-share level, it would not be permitted to move to the 200-share level, even if the formula calculated that such a move was warranted. The issue could move only one level to the 500-share level as a result of any single review.


  • Second, for securities priced below $1 where the reranking called for a reduction in the level, the maximum SOES order size was not reduced.


  • Third, for the top 50 Nasdaq securities based on market capitalization, the maximum SOES order sizes were not reduced, regardless of whether the reranking called for a reduction.

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

Thus, IPOs listed on Nasdaq within the 45 days prior to June 30, 1998, were not subject to SOES order-size reranking procedures.

Following is a listing of the 488 NNM issues that will have the maximum SOES order size changed on October 1, 1998.

Maximum SOES Order Size Changes In NNM Securities
All Issues In Alphabetical Order By Security Name
(Effective October 1, 1998)

Symbol Security Name Old Level New Level
CTAC 1-800 CONTACTS INC 500 1000
A
ACMTA A C M A T CP CL A 500 200
ABRI ABRAMS INDS INC 500 200
ACSY ACSYS INC 500 1000
ADECY ADECCO SA ADR 1000 500
DINE ADVANTICA RES 500 1000
DINEW ADVANTICA WTS 500 1000
AFED AFSALA BANCORP INC 500 1000
ASII AIRPORT SYS INTL I 500 1000
ASTI ALLERGAN SPEC WI 200 500
ALYD ALYDAAR SOFTWARE 500 1000
AMBC AMER BNCP OHIO 500 1000
AMCE AMER CLAIMS EVALUA 500 1000
ALGI AMER LOCKER GROUP 500 1000
ANAT AMER NATL INS CO 1000 500
ABFI AMERICAN BUS FIN S 1000 500
ADPI AMERICAN DENTAL 200 500
APPM AMERICAN PHYS PART 500 1000
AMSFF AMERICAN SAFETY 500 1000
AMESW AMES DEPT ST WT C 1000 500
AMKR AMKOR TECHNOLOGY 200 500
AMCT AMRESCO CAP TRUST 200 500
AMSGA AMSURG CORP CL A 500 1000
AMSGB AMSURG CORP CL B 500 1000
ANCOW ANACOMP INC WTS 200 500
ANDR ANDERSEN GROUP INC 500 1000
ALREF ANNUITY AND LIFE 200 500
APSOP APPLE SOUTH FIN PFD 500 200
ACTC APPLIED CELLULAR T 500 1000
AFCO APPLIED FILMS CORP 500 1000
AMCC APPLIED MICRO 500 1000
ARMHY ARM HLDGS ADS 200 500
ARTW ART S WAY MFG CO I 500 200
ARTI ARTISAN COMPONENTS 500 1000
ASAM ASAHI/AMERICA INC 1000 500
ASPC ASPEC TECH INC 200 500
SIDE ASSOC MATERIALS 200 500
APWR ASTROPOWER INC 500 1000
ATGC ATG INC 200 500
ATPC ATHEY PRODUCTS CP 500 1000
AIII AUTOLOGIC INFO INT 1000 500
AXHM AXIOHM TRANS SOL 500 200
B
BTBTY B T SHIP SPONSOR ADR 500 200
BPAO BALDWIN PIANO ORGA 500 1000
BLDPF BALLARD POWER SYST 500 1000
BFOH BANCFIRST OHIO CP 500 1000
BARI BANK RHODE ISLAND 200 500
BWFC BANK WEST FIN CORP 1000 500
BKUNZ BANKUNITED CAP II 1000 500
BBHF BARBERS HAIRSTYLIN 1000 500
BFSB BEDFORD BCSHS INC 1000 500
BASI BIOANALYTICAL SYST 500 1000
BIORY BIORA AB ADR 500 1000
BDMS BIRNER DENTAL 500 1000
BONS BMJ MEDICAL MGMT 500 1000
BNCM BNC MORTGAGE INC 200 500
BEYE BOLLE INC 200 500
XTRM BRASS EAGLE INC 500 1000
BRZS BRAZOS SPORTSWEAR 500 1000
BRID BRIDGFORD FOODS CP 1000 500
BTSR BRIGHTSTAR INFO 200 500
BRYO BRIO TECHNOLOGY 200 500
BRCM BROADCOM CORP CL A 200 500
BRKL BROOKLINE BANCORP 200 500
MILK BROUGHTON FOODS 500 1000
BRGP BUSINESS RESOURCE 1000 500
C
COLTY C O L T TELECOM AD 1000 500
CLBR CALIBER LEARN NTWK 200 500
CIBN CALIFORNIA IND BNC 200 500
CNTBY CANTAB PHARM 200 500
CARS CAPITAL AUTO SBI 500 1000
CSWC CAPITAL SOUTHWEST 200 500
CASA CASA OLE' RESTRS I 1000 500
CASS CASS COMMERCIAL CO 1000 500
CAVB CAVALRY BANCORP 200 500
CWCOF CAYMAN WATER ORD 500 1000
CDNW CDNOW INC 500 1000
CNDSP CELLNET FNDG PFD 200 500
CEBK CENTRAL CO OP BANK 1000 500
CFAC CENTRAL FIN ACCEPT 1000 500
CVBK CENTRAL VA BKSHS I 500 200
CHANF CHANDLER INS CO LTD 1000 500
CRAI CHARLES RIVER 200 500
CHAS CHASTAIN CAP CORP 200 500
CNBA CHESTER BANCORP IN 1000 500
CINS CIRCLE INCOME SHAR 500 1000
CTBP COAST BANCORP 1000 500
CCPRZ COAST FED LIT CPR 200 500
CBMD COLUMBIA BANCORP M 1000 500
CFKY COLUMBIA FIN KY 200 500
COLM COLUMBIA SPRTSWR 200 500
CCHM COMBICHEM INC 200 500
CCBP COMM BANCORP INC 500 200
CMND COMMAND SYSTEMS 200 500
CLBK COMMERCIAL BANKSHR 500 1000
CNAF COMMERCIAL NATL FI 200 500
CELS COMMNET CELL 500 1000
CBIV COMMUNITY BANCSHAR 1000 500
CFGI COMMUNITY FIN GP INC 500 1000
CFBC COMMUNITY FIRST BN 1000 500
CMPS COMPASS INTL SVCS 200 500
CLTDF COMPUTALOG LTD 500 200
CNDR CONDOR TECH SOLU 500 1000
CNNG CONNING CORP 500 1000
BUYR CONS CAPITAL CORP 500 1000
CNGL CONTL NATURAL GAS 500 1000
COOP COOPERATIVE BKSHS 1000 500
CSCQW CORRECTIONAL SVCS 500 1000
CRRC COURIER CP 500 1000
CVOL COVOL TECHS INC 200 500
CWLZ COWLITZ BANCORPN 200 500
CKEYF CROSSKEYS SYS 500 1000
CRSB CRUSADER HLDG CORP 500 1000
CAWW CULTURALACCESS WW 500 1000
CGII CUNNINGHAM GRAPHIC 200 500
CRGN CURAGEN CORP 200 500
CYSP CYBERSHOP INTL 500 1000
D
DNFCP D & N CAP CORP PFD 500 200
DACG DA CONSULTING GRP 200 500
DECAF DECOMA CL A 200 500
HERBL DECS TRUST III 200 500
DCBI DELPHOS CITIZENS B 1000 500
DNLI DENALI INC 500 1000
DCBK DESERT COMMUNITY B 500 200
DTRX DETREX CP 1000 500
DEVC DEVCON INTL CP 500 1000
DCPI DICK CLARK PROD IN 200 500
DMSC DISPATCH MGMT SVCS 500 1000
DOCC DOCUCORP INTL 200 500
DIIBF DOREL INDS CL B 200 500
DCLK DOUBLECLICK INC 200 500
DRRAP DURA AUTO CAP TR 200 500
DXPE DXP ENTERPRISE 500 200
E
ESREF E S G RE LTD 500 1000
ERTH EARTHSHELL CORP 200 500
EDBR EDISON BROS STORES 500 1000
ECTLW ELCOTEL INC WTS 500 1000
EBSC ELDER-BEERMAN ST 200 500
ELIX ELECTRIC LIGHTWAV 500 1000
EPIQ ELECTRONIC PROCESS 500 1000
ESCP ELECTROSCOPE INC 500 1000
ELRWF ELRON ELEC INDS WTS 200 500
EMLD EMERALD FINANCIAL 500 1000
ENGSY ENERGIS ADS 500 1000
ENSI ENERGYSOUTH INC 1000 500
ETRC EQUITRAC CP 1000 500
ECGC ESSEX COUNTY GAS C 1000 500
EVOL EVOLVING SYSTEMS 200 500
EXDS EXODUS COMMUN 200 500
XTND EXTENDED SYSTEMS 200 500
F
FCNB F C N B CP 1000 500
FMCO F M S FINANCIAL CP 200 500
FTMTF FANTOM TECHS INC 1000 500
FAMCK FEDERAL AGRIC MORT C 500 1000
FFFLP FIDELITY CAP TR I 500 1000
FFOH FIDELITY FIN OF OH 1000 500
FBNC FIRST BANCP TROY N 500 200
FBCG FIRST BKG CO SE GA 500 200
FCTR FIRST CHARTER CP 500 1000
FCNCA FIRST CITIZENS A 500 1000
FCFCP FIRST CITY FINL PFD 500 200
FTCG FIRST COLONIAL GP 200 500
FCGI FIRST CONSULTING 500 1000
THFF FIRST FIN CP (IN) 500 1000
FFIN FIRST FINL BKSHS I 500 1000
FFHS FIRST FRANKLIN CP 200 500
FKFS FIRST KEYSTONE FIN 1000 500
FOBBA FIRST OAK BROOK CL A 1000 500
FSTH FIRST SO BCSHS INC 500 200
FSLB FIRST STERLING BKS 1000 500
FVCX FIRST VIRTUAL CP 200 500
FCFCO FIRSTCITY SPCL PFD 500 200
FLGSP FLAGSTAR CAP PFD A 200 500
FAME FLAMEMASTER CP THE 1000 500
FLCHF FLETCHER'S FINE FOOD 500 200
FLXI FLEXIINTL SOFTWARE 500 1000
FNBF FNB FINANCIAL SVC 500 1000
FOCL FOCAL INC 500 1000
FMAX FRANCHISE MORTGAGE 500 1000
FKKY FRANKFORT FRST 500 1000
FELE FRANKLIN ELEC INC 500 1000
FREEY FREEPAGES GR PLC ADR 200 500
FTBK FRONTIER FIN CORP 200 500
FFHH FSF FINANCIAL CP 500 1000
FNDTF FUNDTECH LTD 200 500
G
GZEA G Z A GEOENVIRON 1000 500
GMTC GAMETECH INTL INC 500 1000
GRTS GART SPORTS CO 500 1000
GBNK GASTON FED BANCP 200 500
GBBKP GBB CAP I CUM TR PFD 500 200
GMCC GEN MAGNAPLATE CP 1000 500
GLGC GENE LOGIC INC 500 1000
GEND GENESIS DIRECT INC 200 500
GNSSF GENESIS MICROCHIP 200 500
GABC GERMAN AMER BANCOR 500 200
GETY GETTY IMAGES INC 500 1000
GICOF GILAT COMMUN LTD 500 1000
GTSG GLOBAL TELESYSTEMS 500 1000
GSBNZ GOLDEN LIT WTS 200 500
GNCNF GORAN CAPITAL INC 1000 500
GCLI GRAND COURT LIFE 200 500
GBTVP GRANITE BRDCT CP PFD 1000 500
PEDE GREAT PEE DEE BCP 500 1000
GSBC GREAT SOUTHERN BNC 500 1000
GBCOB GREIF BROS CP CL B 500 200
GRIF GRIFFIN LAND NURS 200 500
GSOF GROUP I SOFTWARE 200 500
GSTX GST TELECOMMUN INC 200 500
GSLC GUARANTY FIN CP 1000 500
GWBK GULF WEST BANKS 200 500
H
HACH HACH CO 500 1000
HKID HAPPY KIDS INC 200 500
HFGI HARRINGTON FIN GRP 1000 500
HFFB HARRODSBURG FIRST 1000 500
HPAC HAWKER PACIFC AERO 500 1000
HAYZ HAYES CORP 500 1000
HDLD HEADLANDS MTG CO 500 1000
HSDC HEALTH SYS DESIGN 500 1000
HWLD HEALTHWORLD CORP 500 1000
ARCAF HEIDEMIJ N.V. 1000 500
HBSC HERITAGE BNCP (DE) 200 500
HFWA HERITAGE FINL CP 500 1000
HRLYW HERLEY INDS WTS 500 1000
HIFS HINGHAM INSTI SAVI 500 200
HOLT HOLT'S CIGAR HLDGS 500 1000
HLFC HOME LOAN FINL CP 200 500
HPBC HOME PORT BNCP INC 1000 500
HFBC HOPFED BANCORP INC 500 1000
HZWV HORIZON BNCP INC 500 1000
HOFF HORIZON OFFSHORE 200 500
HHLAF HURRICANE HYDROCAR 500 1000
HYPT HYPERION TELECOMM 200 500
I
IPPIF I P L ENERGY INC 500 200
ISSX I S S GROUP INC 200 500
ISAC IC ISAACS & CO 500 1000
ICLRY ICON PLC ADS 200 500
IVISF ICOS VISION SYST 500 1000
IMAG IMAGEMAX INC 500 1000
IGPFF IMPERIAL GINSENG PRO 1000 500
INDBP INDEP CAP TR I PFD 500 200
ICBC INDEPENDENCE COMM 200 500
IAABY INDIGO AVIATIO ADS 200 500
IHIIZ INDUSTRIAL HLDG WT 1000 500
IHIIW INDUSTRIAL WTS D 500 1000
IAIC INFO ANALYSIS INC 500 1000
IACO INFORMATION ADVANT 500 1000
INOC INNOTRAC CORP 200 500
IDEA INNOVASIVE DEVICES 1000 500
ISNR INTEGRATED SENS SL 200 500
IVBK INTERVISUAL BOOKS 1000 500
ITVU INTERVU INC 500 1000
INTT INTEST CORPORATION 1000 500
IBOC INTL BANCSHS CP 200 500
IROQ IROQUOIS BNCP 500 1000
IRWNP IRWIN FIN CUM TR P 1000 500
IYCOY ITO YOKADO CO ADR 200 500
IUBCP IUB CAP TRUST PFD 500 1000
J
JEFFP J B I CAPITAL TR PFD 200 500
JAMSP JAMESON INNS PFD 200 500
JPST JPS TEXTILE GRP 500 1000
K
KTII K TRON INTL INC 500 1000
KTIC KAYNAR TECHS INC 500 1000
KEQU KEWAUNEE SCIENTIFI 500 1000
KOSS KOSS CP 500 1000
L
LCLD LACLEDE STEEL CO 1000 500
LKFNP LAKELAND FINL TR PFD 1000 500
LARK LANDMARK BSCHS INC 200 500
LDMK LANDMARK SYSTEMS 500 1000
LFED LEEDS FED SAV BANK 200 500
LTCW LET'S TALK CELL 500 1000
LVLT LEVEL 3 COMM INC 200 500
LIHRY LIHIR GOLD LTD ADR 500 1000
LNDL LINDAL CEDAR HOMES 500 1000
MALT LION BREWERY INC T 500 1000
JADEF LJ INTL INC 200 500
JADWF LJ INTL WTS 4/2002 200 500
LJLB LJL BIOSYSTEMS 200 500
LGCB LONG ISLAND COMM 500 1000
LOILY LUNDIN OIL GDS 500 1000
LYNX LYNX THERAPEUTICS 500 1000
M
MBLF M B L A FINL CORP 500 200
MFBC M F B CORP 500 200
MKFCF MACKENZIE FIN CP 200 500
MTMS MADE2MANAGE SYS 500 1000
MGNB MAHONING NATL BCP 500 1000
MBNK MAIN STREET BNCP 200 500
MANH MANHATTAN ASSOC 200 500
MARN MARION CAP HLDGS I 500 1000
MARSB MARSH SUPERMARKETS B 1000 500
MSDX MASON-DIXON BCSHS 1000 500
MSDXO MASON-DIXON TR II 200 500
MOIL MAYNARD OIL CO 1000MCCL MCCLAIN INDUSTRIES 1000 500
MBIA MERCHANTS BNCP IL 1000 500
MRCY MERCURY COMP SYS 500 1000
MIGI MERIDIAN INS GP IN 500 1000
MRET MERIT HOLDING CP 1000 500
METNF METRONET NON-VTG B 500 1000
METFP METROPOLITAN CAP 200 500
MGCX MGC COMMUN INC 200 500
MUSE MICROMUSE INC 500 1000
MSEX MIDDLESEX WATER CO 500 1000
MDWY MIDWAY AIRLINES CP 500 1000
MBHI MIDWEST BANC HLDG 200 500
MBSI MILLER BUILDING SY 500 1000
MEXP MILLER EXPLORATION 500 1000
MFFC MILTON FED FINL CP 1000 500
MSPG MINDSPRING ENTER I 1000 500
MNES MINE SAFETY APPLS 500 1000
MOBI MOBIUS MGMT SYST 200 500
MCRI MONARCH CASINO 1000 500
MBBC MONTEREY BAY BANCO 1000 500
MHCO MOORE HANDLEY INC 500 1000
MWRK MOTHERS WORK INC 500 1000
CRGO MOTOR CARGO INDS 500 1000
MOTR MOTOR CLUB OF AMER 500 1000
MPWG MPW INDUSTRIAL SVS 500 1000
LABL MULTI COLOR CP 1000 500
MYST MYSTIC FINANCIAL 500 1000
N
NTAWF NAM TAI ELEC WTS 500 1000
NGEN NANOGEN INC 200 500
NANX NANOPHASE TECHS CP 500 1000
NARA NARA BANK N A 500 1000
NBAK NATL BNCP ALASKA 200 500
NHHC NATL HOME HLTH CAR 1000 500
NIRTS NATL INC RLTY TR 500 1000
NCBEP NCBE CAP TR I PFD 200 500
NERAY NERA AS ADR 1000 500
NECSY NETCOM SYSTEMS ADR 500 1000
NHTB NEW HAMPSHIRE THRI 1000 500
NHCH NEWMARK HOMES CORP 200 500
NSBC NEWSOUTH BANCORP I 1000 500
NBCP NIAGARA BANCORP 200 500
NOLD NOLAND CO 500 200
NRTI NOONEY REALTY TRUS 200 500
NASI NORTH AMERN SCI 500 1000
NBSI NORTH BSCHS INC 1000 500
NOVB NORTH VALLEY BNCP 200 500
NRIM NORTHRIM BANK 500 1000
NSCF NORTHSTAR COMPUTER 500 1000
NWFL NORWOOD FIN CORP 200 500
NOVI NOVITRON INTL INC 1000 500
NUTR NUTRACEUTICAL INTL 200 500
NYMXF NYMOX PHARM CORP 500 1000
O
OCENY OCE ADR 200 500
ODFL OLD DOMINION FREIG 1000 500
OWWI OMEGA WORLDWIDE 200 500
OMNI OMNI ENERGY SVCS 500 1000
OXGNW OXIGENE INC WTS 500 1000
OYOG OYO GEOPSPACE CP 500 1000
P
PVCC P V C CONTAINER CP 500 1000
PBSF PACIFIC BANK NATL 500 1000
PWHS PAPER WAREHOUSE 500 1000
PBOC PBOC HOLDINGS INC 200 500
PCCC PC CONNECTION INC 200 500
PDSFW PDS FINANCIAL WTS 200 500
PMFRA PENNSYLVANIA MAN 500 1000
PSFC PEOPLES-SIDNEY FIN 500 1000
PFDC PEOPLES BANCORP 200 500
PEBK PEOPLES BANK 200 500
PPLS PEOPLES BK CP OF I 200 500
PBKBP PEOPLES CAP TR PFD 500 200
SBAN PERPETUAL BK FSB 500 1000
PETR PETROCORP INC 1000 500
PHLYL PHIL CONS GR PRIDE 200 500
PHLYZ PHIL CONS IN PRIDE 200 500
PGLD PHOENIX GOLD INTL 500 1000
PTRN PHOTRAN CORP 200 500
PHFC PITTSBURGH HOME FI 1000 500
PFSL POCAHONTAS BNCP 500 1000
BPOPP POPULAR INC PFD A 1000 500
POWI POWER INTEGRATN 500 1000
PRFN PRESTIGE FIN CP 1000 500
PTVL PREVIEW TRAVEL INC 500 1000
PNBC PRINCETON NATL BNC 500 1000
PVII PRINCETON VIDEO 500 1000
PRTW PRINTWARE INC 1000 500
PGNX PROGENICS PHARM 500 1000
PGENW PROGENITOR INC WTS 500 1000
POVT PROVANT INC 200 500
PRHC PROVINCE HEALTHCR 500 1000
PRTG PRT GROUP 500 1000
Q
QCFB Q C F BANCORP INC 200 500
QGLY QUIGLEY CORP THE 500 1000
R
RDGE READING ENT INC 500 1000
RLCO REALCO INC 500 200
RNWK REALNETWORKS INC 500 1000
REFN REGENCY BANCORP 200 500
RBCF REPUBLIC BKG CP FL 500 1000
RESR RESEARCH INC 500 1000
RTROW RETROSPETTIVA WTS 1000 500
RCBK RICHMOND COUNTY 200 500
RIDG RIDGEVIEW INC 500 1000
RTST RIGHT START INC 1000 500
RGCO ROANOKE GAS CO 1000 500
RCCK ROCK FINANCIAL CP 200 500
ROCLF ROYAL OLYMPIC CRU 500 1000
S
SJNB S J N B FINANCIAL 500 1000
STVI S T V GROUP INC 500 1000
SNDS SANDS REGENT THE 1000 500
SABB SANTA BARBARA BCP 500 1000
SCNYA SAUCONY INC 1000 500
OKSBO SBI CAP TR PFD 500 200
SCHR SCHERER HEALTHCARE 500 1000
STIZ SCIENTIFIC TECH IN 1000 500
SENEB SENECA FOODS CP B 500 200
SEVN SEVENSON ENVIRONME 500 1000
SFXE SFX ENT CL A 200 500
SHPGY SHIRE PHARM 200 500
SHOE SHOE PAVILION INC 200 500
SHBK SHORE BANK 500 200
SGNS SIGNATURE INNS INC 1000 500
SBGIP SINCLAIR BRD PFD SE 1000 500
SKAN SKANEATELES BANCP 1000 500
SMEDF SMED INTL INC 500 1000
SOMR SOMERSET GP INC TH 500 200
SONO SONOSIGHT INC 200 500
SORC SOURCE INFO S2S3 500 1000
UMPQ SOUTH UMPQUA BANK 200 500
SFFB SOUTHERN FIN BNCP 1000 500
SMBC SOUTHERN MO BNCP I 1000 500
SBSI SOUTHSIDE BANCSHS 200 500
SBSIP SOUTHSIDE CAP TR 200 500
SPLI SPECTRA-PHYSICS 500 1000
SDCOZ SPIROS DEV CP UTS 500 1000
SGDE SPORTSMEN'S GUIDE 500 1000
STMT STARMET CORP 500 1000
SFSW STATE FINL SVCS CL 1000 500
SLFI STERLING FINL CP 500 1000
WINS STEVEN MYERS ASSOC 500 1000
SCBHF STIRLING COOKE BRN 500 1000
SXNBP SUCCESS CAP TR I 200 500
SUBK SUFFOLK BNCP 500 1000
SBGA SUMMIT BANK CORP 1000 500
SRDX SURMODICS INC 200 500
SMPX SYMPHONIX DEVICES 500 1000
SYBBF SYNSORB BIOTCH INC 200 500
T
TAVA T A V A TECH 500 1000
TPNZ TAPPAN ZEE FIN 1000 500
TGNT TELIGENT INC 500 1000
TSCP TELSCAPE INTL INC 500 1000
THRNY THORN PLC ADR 500 1000
TIER TIER TECHS CL B 500 1000
TSBK TIMBERLAND BANCORP 500 1000
TRNI TRANS INDS INC 1000 500
TRGNY TRANSGENE SA ADR 200 500
TRED TREADCO INC 1000 500
TREVW TREEV INC WTS 500 200
TSSS TRIPLE S PLASTICS 500 1000
TFCO TUFCO TECHS INC 1000 500
U
UFPT U F P TECH INC 500 1000
USHG U S HOME & GRDN IN 500 1000
USNC U S N COMM INC 500 1000
USVI U S VISION INC 500 1000
UCBC UNION COMM BANCORP 500 1000
UBCD UNIONBANCORP INC 500 1000
UTCIW UNIROYAL TECH CP WTS 200 500
UIRT UNITED INVST RLTY 200 500
UPFC UNITED PANAM FIN 200 500
URSI UNITED ROAD SVCS 200 500
UTCC URSUS TELECOM CP 200 500
CLEC US L E C CP 200 500
USWB US WEB CORPORATION 500 1000
UBANP USBANCORP CAP TR 200 500
V
VIBC V I B CORP 500 1000
VSEC V S E CP 200 500
VALN VALLEN CP 500 1000
VALU VALUE LINE INC 500 1000
VTRAO VBC CAPITAL I CAP 500 200
VENT VENTURIAN CP 500 1000
VRIO VERIO INC 200 500
VRSN VERISIGN INC 500 1000
VIAX VIAGRAFIX CORP 200 500
VBNJ VISTA BANCORP INC 1000 500
VNWK VISUAL NETWORKS 500 1000
VTNAF VITRAN CP INC 500 200
VYSI VYSIS INC 500 1000
W
WSBI WARWICK COMMUN 500 1000
WSCI WASHINGTON SCI INDS 500 1000
WASH WASHINGTON TRUST 500 1000
WBSTP WEBSTER PFD CAP B 1000 500
WEFC WELLS FINANCIAL CP 500 1000
WEYS WEYCO GP INC 200 500
WMSI WILLIAMS INDS INC 200 500
WREI WILSHIRE R E INV 200 500
WMFG WMF GROUP LTD 500 1000
WYNT WYANT CORP 1000 500
Y
YDNT YOUNG INNOVATIONS 500 1000

Endnote

1 Previously, Nasdaq Market Makers were required to maintain a minimum quotation size for an NNM security in an amount equal to the maximum SOES order size for that security. See generally, NASD Rule 4613(a)(1) - (2). On July 15, 1998, the Securities and Exchange Commission approved an amendment to NASD Rule 4613(a)(1)(C), which reduced the minimum quotation size for all Nasdaq securities to one normal trading unit when a Market Maker is not displaying a limit order, and which thus eliminated the requirement that Market Makers quote a size equal to the maximum SOES order size.