trade.01
frames- [ARG0 Cray Computer] has applied *-1 to [rel trade] [ARGM-LOC on Nasdaq] .
- She said 0 there is `` growing realization *ICH*-1 '' around the world that denial of intellectual-property rights harms all [rel trading] [ARG0 nations] , and particularly the `` creativity and inventiveness of an -LCB- offending -RCB- country 's own citizens . ''
- It 's the latest investment craze sweeping Wall Street : a rash of new closed-end country funds , those [ARGM-MNR publicly] [rel traded] [ARG1 portfolios] that *T*-37 invest in stocks of a single foreign country .
- What *ICH*-1 *T*-41 's so wild about the funds ' frenzy right now is that [ARG1 many] are [rel trading] at [ARG3-at historically fat premiums] to [ARG4-to the value of their underlying portfolios] .
- [ARGM-TMP After *-1 trading at an average discount of more than 20 % in late 1987 and part of last year] , [ARG1 country funds] [ARGM-TMP currently] [rel trade] at [ARG3-at an average premium of 6 %] .
- After [ARG1 *-1] [rel trading] at [ARG3-at an average discount of more than 20 %] [ARGM-TMP in late 1987 and part of last year] , country funds currently trade at an average premium of 6 % .
- And [ARG1 several new funds that *T*-44 are n't even fully invested yet] have jumped *-1 to [rel trade] at [ARG3-at big premiums] .
- They argue that U.S. investors often can buy American depositary receipts on the big stocks in many funds ; these so-called ADRs represent [ARG1 shares of foreign companies] [rel traded] * [ARGM-LOC in the U.S.] .
- Unlike traditional open-end mutual funds , most of these one-country portfolios are the `` closed-end '' type , *-1 issuing a fixed number of [ARG1 shares] that *T*-38 [rel trade] [ARGM-MNR publicly] .
- [ARG1 Bank of New England 's shares] are [rel traded] *-1 [ARGM-LOC on the New York Stock Exchange] .
- Among other Connecticut banks [ARG1 whose shares] *T*-121 [rel trade] [ARGM-LOC in the OTC market] , Society for Savings Bancorp , based * in Hartford , saw its stock rise 1 3\/4 to 18 1\/4 .
- `` All the `` sogo-shosha '' are looking for new business , '' says *T*-1 Arthur Klauser , adviser to the president of Mitsui , U.S.A. , *-2 using the Japanese term for the largest of the global [rel trading] [ARG0 houses] .
- Partly *-1 to help *-2 clear the myriad obstacles facing any overseas company trying * to penetrate Japan , tiny Candela turned to Mitsui & Co. , one of Japan 's largest [rel trading] [ARG0 companies] , for investment .
- The limit lapses under current exchange rules if [ARG1 contracts] [rel trade] above [ARG3-above the limit price] [ARGM-TMP during the opening 10 minutes of trading] .
- [ARG1 A Financial Times-Stock Exchange 100-share index option contract] is [rel traded] *-162 [ARGM-LOC on the London Stock Exchange 's Traded Options Market] .
- [ARGM-DIS And] [ARG1 an FT-SE futures contract] is [rel traded] *-1 [ARGM-LOC on the London International Financial Futures Exchange] .
- The average number of [ARG1 FT-SE option contracts] [rel traded] * [ARGM-LOC on the London exchange] has surged nearly tenfold since the contract 's launch in 1984 .
- This year , the average of [ARG1 daily contracts] [rel traded] * totaled 9,118 , up from 4,645 a year earlier and from 917 in 1984 .
- [ARG1 U.S. stock-index futures] are [ARGM-NEG n't] [ARGM-DIS even] [rel traded] *-1 [ARGM-LOC in Japan] [ARGM-TMP now] .
- [ARG1 Reserves] [rel traded] * among [ARG0-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million or more *U*] .
- `` [ARG0 You] 're not going *-2 to stop the idea of * [rel trading] [ARG1 a basket of stocks] , '' says *T*-1 Vanderbilt 's Prof. Stoll . ``
- One such proposal regarding stock-index futures is an increase in the margin requirement -- or the `` good-faith '' payment of cash needed [ARG0 *] to [rel trade] [ARG1 them] -- to about the same level as the margin requirement for stocks .
- As * usually practiced *-1 it takes advantage of a rather basic concept : [ARG0 Two separate markets] in different locations , [rel trading] [ARG1 basically the same widgets] , ca n't trade them for long at prices that *T*-74 are widely different .
- As * usually practiced *-1 it takes advantage of a rather basic concept : [ARG0 Two separate markets in different locations , trading basically the same widgets ,] [ARGM-MOD ca] [ARGM-NEG n't] [rel trade] [ARG1 them] [ARGM-TMP for long] at [ARG3-at prices that *T*-74 are widely different] .
- [ARGM-CAU Why] does [ARG0 this large hypothetical seller] [rel trade] [ARGM-LOC in Chicago instead of New York] *T*-1 ?
- Instead , [ARG0 we] ought *-1 to be inviting more liquidity with cheaper ways 0 * to [rel trade] and transfer [ARG1 capital] [ARGM-LOC among all participants] *T*-2 .
- Critics like Mr. Murray `` are looking for witches , and [ARG0 people] who *T*-68 use computers * to [rel trade] are a convenient boogieman , '' says 0 *T*-3 J. Thomas Allen , president of Advanced Investment Management Inc. , a Pittsburgh firm that *T*-1 runs a $ 200 million *U* fund that *T*-2 uses index arbitrage .
- For example , [ARG1 stock-index futures] began [rel trading] [ARGM-LOC in Chicago] [ARGM-TMP in 1982] , and within two years they were the fastest-growing futures contract ever launched * .
- [ARGM-TMP Now] , [ARGM-TMP on a good day] , [ARG0 Chicago 's stock-index traders] [rel trade] [ARG1 more dollars worth of stock futures than the Big Board trades in stock] .
- Now , on a good day , Chicago 's stock-index traders trade more dollars worth of stock futures than [ARG0 the Big Board] [rel trades] in [ARG1-in stock] .
- [ARG0 Dealers] led the market Wednesday by *-1 [ARGM-MNR actively] [rel trading] for [ARG4-for their own accounts] , observers said 0 *T*-2 .
- Credit market analysts said 0 the decision * to reopen the current benchmark , the 8 1\/8 % bond due August 2019 , is unusual because [ARG1 the issue] [rel trades] at [ARG3-at a premium to its face amount] .
- It also would junk an innovative market-based system for [ARG0 *] [rel trading] [ARG1 emissions credits] among [ARG2-among polluters] .
- The most common program-trading vehicles are [ARG1 futures contracts] on Standard & poor 's 500-stock index -LRB- [rel traded] * [ARGM-LOC on the Chicago Mercantile Exchange] -RRB- ; the Major Market Index , a 20-stock index that *T*-1 mimics the Dow Jones Industrial Average -LRB- traded * on the chicago Board of Trade -RRB- ; and the S&P 100 options -LRB- traded * on the Chicago Board Options Exchange , and based * on 100 stocks selected * from the S&P 500 -RRB- .
- The most common program-trading vehicles are futures contracts on Standard & poor 's 500-stock index -LRB- traded * on the Chicago Mercantile Exchange -RRB- ; [ARG1 the Major Market Index , a 20-stock index that *T*-1 mimics the Dow Jones Industrial Average] -LRB- [rel traded] * [ARGM-LOC on the chicago Board of Trade] -RRB- ; and the S&P 100 options -LRB- traded * on the Chicago Board Options Exchange , and based * on 100 stocks selected * from the S&P 500 -RRB- .
- The most common program-trading vehicles are futures contracts on Standard & poor 's 500-stock index -LRB- traded * on the Chicago Mercantile Exchange -RRB- ; the Major Market Index , a 20-stock index that *T*-1 mimics the Dow Jones Industrial Average -LRB- traded * on the chicago Board of Trade -RRB- ; and [ARG1 the S&P 100 options] -LRB- [rel traded] * [ARGM-LOC on the Chicago Board Options Exchange] , and based * on 100 stocks selected * from the S&P 500 -RRB- .
- Freeport-McMoRan Inc. said 0 it will convert its Freeport-McMoRan Energy Partners Ltd. partnership into a [ARGM-MNR publicly] [rel traded] [ARG1 company] through the exchange of units of the partnership for common shares .
- * Possibly offsetting that , Columbia recently estimated 0 it has unrealized gains on [ARGM-MNR publicly] [rel traded] [ARG1 equity] investments of more than $ 70 million *U* .
- Many grain processors and exporters use the price of [ARG1 the corn futures contracts] [rel traded] * [ARGM-LOC there] *-1 to calculate the price 0 they offer *T*-2 *-3 to buy corn from farmers .
- [ARG1 Reserves] [rel traded] [ARGM-LOC among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million *U* or more] .
- In the U.S. over-the-counter market , [ARG1 Jaguar shares] [rel trading] [ARGM-MNR as American Depositary Receipts] closed at $ 13.625 *U* , up $ 1.75 *U* .
- Individuals and corporations , as well as [ARG0 dealers] [rel trading] for [ARG4-for their own account] , actively bought Tuesday .
- The company said 0 [ARG0 Maria Sole Agnelli Teodorani , sister of Fiat Chairman Giovanni Agnelli ,] agreed *-1 to [rel trade] [ARG1 her shares in IFI] for [ARG3-for new ordinary shares in the limited partnership] , [ARGM-ADV which *T*-116 will give her control of 4.67 % of Giovanni Agnelli & Co] .
- [ARG0 The Aga Khan] , meanwhile , agreed *-1 to [rel trade] [ARG1 some of his stake in Luxembourg-based Ifint S.A. , another Agnelli family company ,] for [ARG3-for 7.45 % of Giovanni Agnelli & Co. 's capital] .
- Shareholders of the Santa Ana , Calif. , title-insurance company approved the creation of [ARG1 this second class] of stock , which *T*-2 [ARGM-MOD will] be [rel traded] *-142 [ARGM-LOC on the national over-the-counter market] and which the company said 0 *T*-1 would be used *-143 for acquisitions and other general corporate purposes .
- Those with a bullish view see the dollar trading up near 1.9000 marks and 145 yen , while the dollar bears see [ARG1 the U.S. currency] [rel trading] around [ARG3-around 1.7600 marks and 138 yen] .
- Those with a bullish view see [ARG1 the dollar] [rel trading] [ARGM-MNR up] near [ARG3-near 1.9000 marks and 145 yen] , while the dollar bears see the U.S. currency trading around 1.7600 marks and 138 yen .
- A month ago , a similar survey predicted 0 [ARG1 the dollar] [ARGM-MOD would] be [rel trading] at [ARG3-at 1.8690 marks and 139.75 yen] [ARGM-TMP by the end of October] .
- [ARG1 Sterling] was [rel trading] at [ARG3-at $ 1.5805 *U*] , [ARGM-ADV down from $ 1.5820 *U* late Monday] .
- [ARGM-LOC In Tokyo] [ARGM-TMP Wednesday] , [ARG1 the U.S. currency] was [rel trading] at [ARG3-at about 142.95 yen] [ARGM-TMP at midmorning] , up from 142.80 yen at the opening and up from Tuesday 's Tokyo close of 142.15 yen .
- The technology group is also split between large companies and small , with [ARG1 the biggest stocks] [rel trading] [ARGM-MNR as blue-chip issues] [ARGM-LOC in the institutional marketplace] , while the smaller stocks churn on their individual merits or faults , analysts say *T*-1 .
- George Jennison , who *T*-74 trades bank stocks for Shearson Lehman Hutton , said 0 the stocks tend *-1 to fall behind because [ARG1 they] are [ARGM-NEG n't] [rel traded] [ARGM-MNR as much as many other issues] .
- [ARG0 George Jennison] , who *T*-74 [rel trades] [ARG1 bank stocks] for [ARG4-for Shearson Lehman Hutton] , said 0 the stocks tend *-1 to fall behind because they are n't traded as much as many other issues .
- Jaguar topped the most-active list , as its American depository receipts climbed 1 3\/4 to 13 5\/8 with [ARG1 more than 6.6 million ADRs] [rel traded] *-1 .
- A compromise between bulls and bears puts remaining assets and cash -- including its 44 % stake in its [ARGM-MNR publicly] [rel traded] [ARG1 pipeline] -- at $ 2 billion *U* .
- But [ARG1 Santa Fe] , [ARGM-TMP currently] [rel trading] at [ARG3-at 18 7\/8] , is n't likely *-1 to realize private market values by *-2 selling assets , because the tax against it would be onerous .
- [ARGM-DIS And] [ARG1 real estate] [ARGM-TMP usually] has [ARGM-NEG n't] [rel traded] [ARGM-MNR well] [ARGM-LOC under public ownership] .
- Salomon Brothers says , `` We believe 0 [ARG1 the real estate properties] [ARGM-MOD would] [rel trade] at [ARG3-at a discount] ... [ARGM-TMP after the realty unit is spun off] ... .
- [ARG0 Senate leaders] [rel traded] [ARG1 proposals aimed * at * speeding action on legislation 0 *T*-1 to narrow the deficit and raise the federal government 's debt limit] -- but the major stumbling block remains President Bush 's proposal * to cut the capital-gains tax rate .
- Ogden Projects , [ARG1 whose shares] *T*-131 began *-1 [rel trading] [ARGM-LOC on the New York Stock Exchange] [ARGM-TMP in August] , closed yesterday at $ 26.875 *U* , down 75 cents .
- [ARG1 The stock] began * [rel trading] [ARGM-TMP this summer] at [ARG3-at $ 14 *U* apiece] .
- [ARG0 The company] continues *-1 to [rel trade] [ARGM-LOC in the over-the-counter market] [ARGM-MNR with an exception to listing requirements] .
- [ARG1 MiniScribe common] closed yesterday at $ 1.9375 *U* , down 6.25 cents , and has been [rel trading] [ARGM-TMP for several months] at [ARG3-at less than $ 3 *U* a share] .
- Mr. Rifenburgh also noted that [ARG1 150 million shares of MiniScribe common stock] were [rel traded] *-1 [ARGM-TMP during the past three years] , `` [ARGM-ADV so there 's a tremendous amount of exposure] . ''
- It was the most active of the 100-share index at [ARG1 8.3 million shares] , 6.5 million of which *T*-2 were [rel traded] *-1 [ARGM-TMP by midday] .
- [ARG1 The 10 3\/4 % debentures] [ARGM-TMP last] [rel traded] at [ARG3-at 35] .
- [ARGM-DIS But] [ARGM-ADV rather than *-2 write off home fitness equipment] , [ARG0 she] [rel traded] [ARGM-DIR up] : Ms. Igdaloff just paid about $ 900 *U* for a fancier stationary bike , with a timer , dials showing average and maximum speeds and a comfortable seat that *T*-1 feels almost like a chair .
- Then [ARG0 they] took the art to Acapulco and began *-1 to [rel trade] [ARG1 some of it] for [ARG3-for cocaine] .
- [ARG1 Reserves] [rel traded] among [ARG2-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million or more *U*] .
- He predicts 0 [ARG1 the pound] will continue *-1 to [rel trade] [ARGM-MNR in a very volatile fashion] , [ARGM-ADV with `` fits of * being oversold and overbought *-2 ''] before *-1 recovering its losses .
- [ARG1 It] [ARGM-MOD will] [rel trade] [ARGM-LOC over the counter] [ARGM-MNR under the symbol CRAY] .
- [ARG0 Many money managers] who *T*-501 [rel trade] [ARG1 stock] [ARGM-MNR actively] have trouble * consistently matching the S&P-500 's returns .
- Last Tuesday , Kemper Corp. 's Kemper Financial Services Inc. unit said 0 [ARG0 it] [ARGM-MOD would] [ARGM-NEG no] [ARGM-TMP longer] [rel trade] with [ARG2-with firms committed * to stock-index arbitrage , including the three that *T*-1 later suspended stock-index arbitrage trading on Friday] .
- But unequal trading rules allow [ARG0 the futures market] to [rel trade] [ARGM-MNR differently from stocks] , which *T*-1 invites frequent bouts of stock-index arbitrage in the first place .
- In fact , without [ARG0 Wall Street firms] [rel trading] for [ARG4-for their own accounts] , the stock-index arbitrage trading opportunities for the big funds may be all the more abundant .
- Although management led a leveraged buy-out of R.H. Macy in July 1986 , the company still makes financial filings because of its [ARGM-MNR publicly] [rel traded] [ARG1 debt] .
- Because of program trading it *EXP*-1 is more difficult [ARG0 *] to [rel trade] [ARG1 many OTC stocks] [ARGM-MNR without sharp price moves] , a condition known * as illiquidity .
- British Petroleum fell 5 to 286 on [ARG1 14 million shares] [rel traded] * .
- Among the other [ARGM-MNR actively] [rel traded] [ARG1 blue-chip] issues , Imperial Chemical Industries dropped 11 to # 10.86 *U* , Hanson skidded 9.5 to 200.5 , and British Telecom fell 10 to 250 .
- A senior dealer with Warburg Securities noted 0 British Gas , the most active blue-chip stock at [ARG1 20 million shares] [rel traded] * , was affected *-1 by the political implications of Mr. Lawson 's departure and Mrs. Thatcher 's cabinet shuffle .
- It is partly for this reason that [ARG0 the exchange] [ARGM-TMP last week] began *-3 [rel trading] in [ARG1 its own stock `` basket '' product that *T*-2 allows big investors to buy or sell all 500 stocks in the Standard & Poor 's index in a single trade] .
- Recovery could be hampered *-1 if [ARG0 Britain] 's major [rel trading] [ARG2 partners] in Europe , which *T*-2 are enjoying robust economic activity , cool off as * expected *-3 in late 1990 and 1991 .
- [ARG1 Reserves] [rel traded] * among [ARG2-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million *U* or more] .
- Three new issues begin *-2 trading on the New York Stock Exchange today , and [ARG1 one] began *-1 [rel trading] [ARGM-LOC on the Nasdaq\/National Market System] [ARGM-TMP last week] .
- [ARG1 Three new issues] begin *-2 [rel trading] [ARGM-LOC on the New York Stock Exchange] [ARGM-TMP today] , and one began *-1 trading on the Nasdaq\/National Market System last week .
- On the Big Board , [ARG1 Crawford & Co. , Atlanta , -LRB- CFD -RRB-] begins *-1 [rel trading] today .
- Also beginning [ARG1 *-3] [rel trading] [ARGM-LOC *ICH*-1] today on the Big Board are *T*-2 El Paso Refinery Limited Partnership , El Paso , Texas , -LRB- ELP -RRB- and Franklin Multi-Income Trust , San Mateo , Calif. , -LRB- FMI -RRB- .
- On the Nasdaq over-the-counter system , [ARG1 Allied Capital Corp. , Washington , D.C. , -LRB- ALII -RRB-] began *-1 [rel trading] last Thursday .
- `` [ARG0 Our members] are eager *-1 to begin *-2 [rel trading] [ARG1 this contract] , so we expect no difficulty in * attracting locals to the natural gas pit , '' he said 0 *T*-3 .
- It also had both the fewest , and least experienced , investigators per [ARG1 million contracts] [rel traded] * .
- It also said that [ARG0 it] would start *-1 [rel trading] [ARG1 the contract] as soon as the CFTC approved it .
- Many of [ARG1 the RJR securities] , which *T*-1 had been [rel trading] near [ARG3-near their 52-week lows] [ARGM-TMP earlier in the session] , bounced back after the company 's announcement that it agreed *-8 to sell its Baby Ruth , Butterfinger and Pearson candy businesses to Nestle Foods , a unit of the Swiss-based food concern .
- [ARG1 RJR 's subordinated discount debentures] of 2001 , which *T*-1 [rel traded] [ARG3 as low as 45] [ARGM-TMP Friday] , finished the day at 46 7\/8 .
- [ARG1 RJR Holdings Capital Corp. 's 14.7 % convertible pay-in-kind securities maturing in 2009] closed 1\/2 higher at 86 1\/2 after *-9 [rel trading] [ARG3 as low as 85 1\/4] .
- Following is *T*-1 a weekly listing of unadited net asset values of [ARGM-MNR publicly] [rel traded] [ARG1 investment] fund shares , reported * by the companies as of Friday 's close .
- [ARG1 Gold mining stocks] [rel traded] * [ARGM-LOC on the American Stock Exchange] also showed strength .
- [ARG1 The pound] likely will fall in coming days and [ARGM-MOD may] [rel trade] [ARG3 as low as 2.60 marks] [ARGM-TMP within the next year] , says 0 *T*-1 Nigel Rendell , an international economist at James Capel & Co. in London .
- If the contract is as successful as some expect *?* , it may do much *-1 to restore confidence in [ARG1 futures] [rel trading] in Hong Kong .
- He says 0 the contract will be considered *-1 a success if [ARG0 it] starts *-2 [rel trading] [ARG1 500 to 1,000 lots] [ARGM-TMP a day] .
- The exchange had forecast that [ARG1 the contract] would begin *-1 [rel trading] by December .
- When the going gets tough *T*-2 , it *EXP*-1 's tough [ARG0 *] to [rel trade] [ARG1 stocks] [ARGM-LOC in continental Europe] .
- They say 0 the recent market volatility has underscored the shortcomings of [ARGM-MNR the way] 0 [ARG0 many European exchanges] [rel trade] [ARG1 stocks] *T*-1 .
- On Manic Monday , the volume of [ARG1 German shares] [rel traded] * [ARGM-LOC in London] more than tripled to 2.2 million , and the volume of French shares rose 48 % .
- The weaknesses of Continental exchanges are driving some fund managers to switch business to [ARG1 stocks] [rel traded] * [ARGM-LOC on London 's stock exchange , which *T*-1 quotes firm trading prices for about 350 blue-chip issues from 12 major countries] .
- Though the [ARGM-MNR widely] [rel traded] [ARG1 shares] that *T*-2 are quoted *-1 in London account for only a small portion of those totals , they still are the most closely watched stocks and are often viewed as a barometer for the local markets generally .
- `` The events strengthen London 's hand in * becoming the center for [ARG0 *] [rel trading] [ARG1 European stocks] , '' Mr. Gilchrist says *T*-1 .
- Louis Margolis , managing director in charge of equity options and futures at Salomon Inc. , says that [ARG0 *] [rel trading] [ARG1 baskets of stocks] began in the 1970s , a decade before the advent of futures .
- Since stock futures were created *-1 in 1982 , [ARG0 *] [rel trading] [ARGM-LOC on the Chicago Mercantile Exchange and other exchanges] has boomed to the point where * trading in stock-index futures rivals that in the stocks themselves .
- Futures `` do n't need defending , '' says *T*-2 Andrew Yemma , a spokesman for [ARG0 the Chicago Mercantile Exchange] , which *T*-1 [rel trades] [ARG1 the S&P 500 , by far the largest stock-index futures contract] .
- The S&P 500 index futures `` transferred the identity of 500 stocks into one unit - *-1 making them [ARG1 a simple commodity] 0 [ARG0 *] to [rel trade] *T*-2 , '' says *T*-3 George Kegler , senior vice president at A. Webster Dougherty in Philadelphia .
- [ARG0 The Big Board] yesterday began *-1 [rel trading] in [ARG1-in its own basket trading vehicle representing the S&P 500 stocks] .
- [ARG1 The pound] , which *T*-1 had been [rel trading] at [ARG3-at about $ 1.6143 *U*] [ARGM-LOC in New York] [ARGM-TMP prior to Mr. Lawson 's announcement] , sank more than two cents to $ 1.5930 *U* , * prompting the Federal Reserve Bank to buy pounds for dollars .
- The $ 13 billion *U* 0 the Fed injected *T*-1 into the money markets after the 1987 crash is more than enough * to buy [ARG1 all the stocks] [rel traded] * [ARGM-TMP on a typical day] .
- As the market tumbled , disorderly market conditions prevailed : The margins between buying bids and selling bids widened ; * trading in many stocks was suspended *-2 ; orders took unduly long *-4 to be executed *-1 ; and [ARG0 many specialists] stopped *-3 [rel trading] [ARGM-MNR altogether] .
- In fact , several London markets already offer lower costs for [rel trading] in [ARG1-in the same or very similar contracts] .
- The affected practices include the placing of oral orders , which *T*-2 is the way 0 most public customer orders are placed *-1 *T*-3 , and trading between affiliated brokers , even though in some cases [rel trading] with [ARG2-with affiliates] may be the only way 0 * to obtain the best execution for a client *T*-4 .
- Also precluded would be *T*-2 [ARGM-MNR dual trading] , whereby [ARG0 a broker] [rel trades] for [ARG4-for customers as well as his own account] *T*-3 , a practice that *T*-1 provides needed liquidity to the markets .
- That temptation must be put *-3 aside * to permit careful consideration of all the implications , positive and negative , of the proposed resolutions to those problems , and to avoid *-4 creating [ARGM-LOC a marketplace] where [ARG0 no one] [rel trades] *T*-2 .
- [ARG1 Its stock , which *T*-1 was as high as $ 18.75 *U* a share ,] has been [rel trading] under [ARG3-under $ 4 *U* a share] [ARGM-TMP recently] .
- But sources said 0 he will be urging his allies *-1 to boost their stakes in [ARG1 Navigation Mixte] , which *T*-2 is being [rel traded] *-3 [ARGM-LOC in London] and is *-3 to resume *-4 trading in Paris Tuesday .
- But sources said 0 he will be urging his allies *-1 to boost their stakes in [ARG1 Navigation Mixte] , which *T*-2 is being traded *-3 in London and is *-3 to resume *-4 [rel trading] [ARGM-LOC in Paris] [ARGM-TMP Tuesday] .
- [ARG0 The two sides] [ARGM-DIS also] [rel traded] [ARG1 accusations about the cost of the Packwood plan] .
- Some of [ARG0 America] 's biggest [rel trading] [ARG2 partners] gave a quick thumbs-down to a U.S. proposal * to liberalize world trade and reduce farm-product subsidies .
- [ARGM-TMP One day after Delmed Inc. made top management changes and disclosed the end of an important business tie] , [ARG1 its stock] did [ARGM-NEG n't] [rel trade] and the company forecast a `` significant '' drop next year in sales of its core product .
- The spokeswoman said 0 the exchange would resume [rel trading] of [ARG1-of Delmed stock] today .
- These people invested in `` leveraged '' junk bond mutual funds , the [ARGM-MNR publicly] [rel traded] [ARG1 funds] that *T*-1 make a habit of * taking out loans * to buy extra junk .
- Leverage is never a problem for [ARG1 the traditional `` open end '' mutual funds] , which *T*-1 are [ARGM-NEG n't] [ARGM-MNR publicly] [rel traded] *-2 and are n't allowed *-2 to use leverage at all .
- [ARG1 Reserves] [rel traded] * among [ARG2-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million or more *U*] .
- The price of Columbia shares has been cut *-1 nearly in half since [ARGM-TMP August] , when [ARG1 they] [rel traded] at [ARG3-at about $ 10 *U*] *T*-2 , as investors apparently realized that the thrift would be forced *-3 to take a big write-down .
- Volume was thin at [ARG1 374.6 million shares] [rel traded] , down from 405.4 million Tuesday .
- Hanson , with [ARG1 15 million shares] [rel traded] * , closed 2.5 lower at 212.5 .
- The baskets on the Big Board and CBOE -- which *T*-1 involve the actual S&P stocks , unlike [ARG1 the stock-index contracts] [ARGM-TMP currently] [rel traded] [ARGM-LOC on the Chicago futures markets] , and index options on the CBOE -- will begin trading as critics step up their attacks on program trading and its contributions to the stock market 's wild price swings .
- [ARG0 The Big Board] this morning plans *-1 to begin *-2 [rel trading] [ARG1 its Exchange Stock Portfolio `` basket '' product , the first program-trading vehicle carrying the exchange 's seal of approval] .
- Big Board officials say 0 [ARG1 only 25 contracts a day *ICH*-1] [ARGM-MOD may] [rel trade] [ARGM-TMP at first] , equivalent to a day 's action at a small , regional exchange .
- Even though the Big Board says 0 its product represents a post-crash `` reform , '' some traders suggest that if [ARG1 the new basket] had been [rel trading] [ARGM-TMP during this month 's Friday the 13th market plunge] , the Dow Jones Industrial Average might have dropped more than the 190 points 0 it did *T*-1 .
- Also approved was *T*-1 a plan [ARG0 *] to [rel trade] [ARG1 stock portfolios] [ARGM-MNR by computer] [ARGM-TMP after regular hours] [ARGM-LOC on the Midwest Stock Exchange] .
- It has been three years since Mr. Boesky , * now in prison , agreed *-1 to pay a $ 100 million *U* fine *-2 to settle the government 's charges that [ARG0 he] had [rel traded] [ARGM-MNR illegally] [ARGM-MNR *-3 using insider information] .
- The stock fell 3\/4 to 12 7\/8 as [ARG1 3.6 million shares] were [rel traded] *-1 [ARGM-LOC in the wake of its report that fiscal second-quarter net income fell 66 % from a year ago] .
- People said 0 they did n't think 0 [ARG1 a billion-dollar deal] [ARGM-MOD would] [rel trade] . ''
- `` [ARG1 The company 's stock] is [rel trading] at [ARG3-at 40 times next year 's numbers] , and that 's too much , '' she said *T*-1 .
- [ARG1 Reserves] [rel traded] * among [ARG2-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million *U* or more] .
- The Sheraton Moscow will charge about $ 140 to $ 150 *U* a day for each of its rooms , and it will accept payment only in [ARG1 currencies] that *T*-2 [ARGM-MOD can] be [rel traded] *-1 [ARGM-LOC in foreign exchange markets] , according to a Sheraton executive .
- The NASD , which *T*-1 operates the Nasdaq computer system on which 5,200 OTC issues trade *T*-4 , compiles short interest data in two categories : [ARG1 the approximately two-thirds , and generally biggest , Nasdaq stocks] that *T*-2 [rel trade] [ARGM-LOC on the National Market System] ; and the one-third , and generally smaller , Nasdaq stocks that *T*-3 are n't a part of the system .
- [ARG1 MCI] [rel traded] [ARG3 as low as 41 3\/8] [ARGM-TMP during the session] .
- Benjamin Jacobson & Sons has been [ARG0 the New York Stock Exchange specialist firm] in charge of * [rel trading] [ARG1 stock in UAL Corp. and its predecessors] since the early 1930s .
- The news told them 0 it would be a while longer before [ARG1 UAL] resumed *-1 [rel trading] [ARGM-MNR like a regular airline stock] after months of gyrations .
- [ARG1 UAL , which *T*-1 closed on the Big Board Monday at $ 178.375 *U* a share ,] [rel traded] [ARGM-LOC in the third market] [ARGM-TMP afterward] [ARG3 as low as $ 158 *U* a share] .
- When UAL finally opened *-2 a half hour late *T*-1 , [ARG1 some 400,000 shares] [rel traded] at [ARG3-at $ 150 *U*] .
- With 15 seconds of trading 0 *T*-2 to go , Mr. Jacobson , with what voice he had *T*-1 left *-3 , announced to the trading mob : `` [ARG0 We] 're going *-4 to [rel trade] [ARG1 one price] [ARGM-TMP on the bell] . ''
- [ARGM-LOC In the process] , [ARG1 4.9 million shares] [rel traded] , [ARGM-ADV * making UAL the second most active issue on the Big Board] .
- [ARG1 Cineplex] [rel traded] [ARGM-LOC on the New York Stock Exchange] at [ARG3-at $ 11.25 *U* a share , up $ 1.125 *U*] , [ARGM-TMP before trading was halted *-1] .
- Volume was [ARG1 a modest 405.4 million shares] [rel traded] * , but better than the year 's lowest turnover of 276.8 million Monday .
- The board 's decision , announced * after the market closed Monday , initially prompted a severe sell-off in [ARG1 UAL shares] , which [ARGM-TMP at midday] *T*-1 [rel traded] [ARG3 as low as $ 145 *U* a share] , down $ 33 *U* a share , [ARGM-LOC in composite trading on the New York Stock Exchange] .
- GRAINS AND SOYBEANS : Prices closed lower after [rel trading] in [ARG3-in relatively narrow ranges] because of strong selling in the cash market and continued favorable harvest weather .
- [ARGM-TMP The last time] 0 [ARG1 cocoa] [rel traded] at [ARG3-at prices as low as currently] *T*-1 was in 1974 .
- The bonds of SCI TV now are being quoted *-1 at prices ranging from only five cents to about 60 cents on the dollar , according to [ARG0 R.D. Smith & Co.] in New York , which *T*-2 [rel trades] [ARG1 distressed securities] .
- There was very slow play on the market today , They were selling and buying by halves ; Instead of [ARG0 *-1] [rel trading] [ARGM-MNR like Bears and Bulls] , They behaved like cubs and calves .
- [ARGM-MNR Actively] [rel traded] [ARG1 municipal] bonds ended 1\/4 to 1\/2 point higher in brisk trading , despite a flood of new supply .
- [ARG0 Pro-Iranian kidnappers] renewed an offer * to [rel trade] [ARG1 their captives in Lebanon] for [ARG3-for at least 15 Shiite Moslem comrades jailed * in Kuwait] .
- That would be good news for the OTC market , some analysts say 0 *T*-2 , because [ARG1 many small growth stocks] are [rel traded] *-1 [ARGM-LOC there] .
- In the Treasury market , analysts expect [ARG1 bond prices] to [rel trade] in [ARG3-in narrow ranges] [ARGM-TMP this week] [ARGM-TMP as the market takes in positive and negative news] .
- [ARG1 Its stock] , at 9 5\/8 , [rel trades] at [ARG3-at about 8 1\/2 times estimated 1989 earnings -- an appropriately low multiple for a company with recession-sensitive customers] .
- And Mr. Kleinaitis says that with 80 % of its stock in friendly hands , Manville is the rare [ARGM-MNR publicly] [rel traded] [ARG1 company] that *T*-1 can ignore short-term stock fluctuations and plan for the long haul .
- Pension funds rarely own as much as a 20 % stake in what *T*-1 is expected *-2 to be a [ARGM-MNR publicly] [rel traded] [ARG1 company] .
- [ARG1 Reserves] [rel traded] among [ARG2-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million or more *U*] .
- [ARG1 It] [rel traded] [ARG3 as high as $ 64 *U*] [ARGM-TMP a month ago] , [ARGM-TMP before the loss projection] .
- [ARG0 They] were willing *-2 to [rel trade] [ARG1 important provisions in the bailout legislation] [ARGM-PNC *-3 to preserve Mr. Wall 's job and to avoid a reconfirmation hearing in which he would be called upon *-1 *-5 to testify about Lincoln S&L *T*-4] .
- [ARGM-ADV Most importantly] , [ARG0 the Senate] [rel traded] away [ARG1 the Bush administration 's controversial plan * to finance the bailout , which *T*-2 was partly reinstated *-1 later] .
- [ARG1 The shares] [rel traded] at [ARG3-at about A$ 1.50 *U*] [ARGM-TMP in March , when the plan * to acquire MGM\/UA was announced *-1 *T*-2] .
- Unlike the New York Stock Exchange , where buyers and sellers are quickly matched *-3 *T*-2 , [ARGM-LOC the junk market] , where [ARG1 risky corporate loans] are [rel traded] *-1 *T*-4 , is sometimes closed *-5 for repairs .
- `` [ARG1 Quality junk bonds] will continue *-1 to [rel trade] [ARGM-MNR well] , '' says *T*-2 Michael Holland , chairman of Salomon Brothers Asset Management Inc .
- [ARG1 A daily average of 20.9 million shares *ICH*-1] [rel traded] [ARGM-MNR in program strategies] [ARGM-TMP in September] , the second-highest level ever .
- The highest level was in [ARGM-TMP June 1989] , when [ARG1 a daily average of 22.1 million shares] [rel traded] [ARGM-MNR in program strategies] *T*-1 .
- [ARGM-MNR Publicly] [rel traded] [ARG1 VF] Corp. , which *T*-1 owns Vanity Fair , and Sara Lee Corp. , which *T*-2 owns Bali Co. , are also strong forces in intimate apparel .
- Since [ARG1 *-1] [rel trading] [ARG3 as low as $ 42.25 *U* a share] [ARGM-TMP in May] , Federal 's shares have rallied as high as $ 57.87 *U* in New York Stock Exchange composite trading .
- [ARG0 He] continues *-1 to reshuffle the team , *-1 [rel trading] [ARG1 famed running back Herschel Walker] to [ARG2-to the Minnesota Vikings] [ARGM-TMP this month] for [ARG3-for a slew of players and future draft picks] .
- [ARG1 The stock] [rel traded] [ARG3 as high as $ 10 *U*] [ARGM-TMP this past summer] .
- [ARG1 Reserves] [rel traded] among [ARG2-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million or more *U*] .
- Separately , on the Pacific Stock Exchange , [ARG1 put and call options on the common stock of Aldus Corp.] started *-1 [rel trading] .
- [ARG0 The new closed-end management investment company] [rel trades] [ARG1 shares of beneficial interest] .
- [ARG0 Three companies] began *-1 [rel trading] [ARGM-MNR over the counter] .
- [ARG1 Rally 's Inc. , a Louisville , Ky. , restaurant franchisor ,] started *-1 [rel trading] [ARGM-MNR under RLLY] .
- [ARG1 Sierra Tucson Cos. , Tucson , Ariz. ,] started *-1 [rel trading] [ARGM-MNR under STSN] .
- [ARGM-DIS Also] , [ARG1 the smaller growth stocks] are [ARGM-NEG n't] [ARGM-MNR widely] [rel traded] , and so are harder 0 * to buy and sell *T*-1 quickly than blue chips .
- Some like *-2 to specialize in growth companies [ARG1 whose shares] *T*-1 have [ARGM-NEG n't] [rel traded] *-3 [ARGM-MNR publicly] [ARGM-TMP very long] .
- From its high point on Thursday , Oct. 12 , to where [ARG1 it] [rel traded] [ARGM-MNR late] [ARGM-LOC in New York] [ARGM-TMP a week later] *T*-1 , the dollar fell 3.6 % against the West German mark , 3.4 % against the British pound and 2.1 % against the Japanese yen .
- [ARG1 The benchmark 30-year bond] , which *T*-1 [rel traded] [ARG3 as high as 102 1\/4] [ARGM-TMP during the day] , ended at 101 17\/32 .
- Many foreign [rel trading] [ARG0 offices] in Hong Kong were swamped *-1 with telexes and telephone calls from Chinese trade officials urging them not *-2 to sever ties .
- The suspension of foreign loans has weakened the buying power of China 's national [rel trading] [ARG0 companies] , which *T*-1 are among the country 's biggest importers .
- At that level , and given the uncertainty , he believes 0 [ARG1 UAL stock] [ARGM-MOD should] [rel trade] [ARG3 closer to]
- The airline was the most active FT-SE 100 at [ARG1 8.2 million shares] [rel traded] * .
- Trelleborg 's [ARGM-MNR internationally] [rel traded] [ARG1 ``] Bfree '' series stock plunged SKr29 -LRB- $ 4.48 *U* -RRB- to SKr205 -LRB- $ 31.65 *U* -RRB- in volatile trading Monday in Stockholm .
- -LRB- [ARG1 About 7.5 % of Picop] is [ARGM-MNR publicly] [rel traded] *T*-1 and other shareholders own the rest of the equity . -RRB-
- [ARG1 Silver] , [ARGM-TMP now] [rel trading] [ARG3 around $ 5 *U* an ounce] , surged to an all-time peak of $ 50 *U* an ounce in January 1980 from around $ 9 *U* in mid-1979 .
- An investor who *T*-2 may have placed a stop-loss order at $ 90 *U* under [ARG1 a stock] that *T*-3 was [rel trading] at [ARG3-at $ 100 *U* a share] [ARGM-TMP on the Friday before the crash] was stunned *-4 to discover that the order was filled *-1 at $ 75 *U* when the stock opened at that price on Monday *T*-5 .
- Stop-Limit Order : Stop-limit orders turn into limit orders when [ARG1 an investment] [rel trades] at [ARG3-at the price specified * in the order] *T*-1 .
- As soon as [ARG0 the market] [rel trades] at [ARG3-at the specified price] the floor broker will fill it at the best possible price .
- Gregory Bessemer , who *T*-1 came in second in the stock division of the recently completed U.S. Trading Championship , says 0 [ARG0 he] uses fill-or-kill orders almost exclusively [ARGM-TMP when] * [rel trading] [ARG1 options] *T*-2 .
- [ARG0 He] tried management consulting , [rel traded] in [ARG1-in turquoise] [ARGM-TMP for a while] , and even managed professional wrestlers .
- Says *ICH*-1 Todd Richter , an analyst with Dean Witter Reynolds : `` The shakeout in the [ARGM-MNR publicly] [rel traded] [ARG1 companies] is over .
- [ARG1 Every dollar 's worth of stock in the Los Angeles money manager 's portfolio] is [rel traded] *-1 [ARGM-TMP seven or eight times a year] , the firm estimates 0 *T*-2 .
- [ARGM-ADV With today 's computer-driven program trading techniques] , [ARG1 index funds] [ARGM-MOD can] [rel trade] [ARGM-DIR back and forth] between [ARG2-between stock-index futures and the actual stocks making up indexes such as the S&P 500] .
- For more than a decade , banks have been pressing Congress and banking regulators for expanded powers * to act like securities firms in *-2 playing Wall Street 's lucrative takeover game , from * giving mergers advice all the way to [ARG0 *] selling and [rel trading] [ARG1 high-yield junk bonds] .
- [ARG1 Petrolane Gas Service 's 13 1\/4 % debentures] traded at 102 , after *-1 [rel trading] around [ARG3-around par] [ARGM-TMP earlier this week] , and RJR 's 13 1\/2 % subordinated debentures of 2001 were at 101 5\/8 after *-2 trading at below par earlier this week .
- Petrolane Gas Service 's 13 1\/4 % debentures traded at 102 , after *-1 trading around par earlier this week , and [ARG1 RJR 's 13 1\/2 % subordinated debentures of 2001] were at 101 5\/8 after *-2 [rel trading] at below [ARG3-below par] [ARGM-TMP earlier this week] .
- [ARG1 Petrolane Gas Service 's 13 1\/4 % debentures] [rel traded] at [ARG3-at 102] , [ARGM-TMP after *-1 trading around par earlier this week] , and RJR 's 13 1\/2 % subordinated debentures of 2001 were at 101 5\/8 after *-2 trading at below par earlier this week .
- [ARG1 Guber Peters stock] , which *T*-1 [rel traded] [ARG3 as low as $ 6 *U* a share] [ARGM-TMP last year] , closed yesterday at $ 16.625 *U* .
- `` You could see massive gyrations here because it 's such a [ARGM-MNR thinly] [rel traded] [ARG1 market] , '' says *T*-1 Jonathan S. Paris , a vice president of European Investors Inc. , a New York investment-management firm .
- In addition , an investor who *T*-1 wants *-2 to know the daily value of Treasury bonds , or [ARG1 corporate bonds] [rel traded] * [ARGM-LOC on the New York Stock Exchange] , can simply check newspaper listings .
- [ARG1 The stock] was [rel trading] at [ARG3-at 69] [ARGM-TMP just two weeks ago] .
- The operator of fast-food restaurants , [ARG1 whose shares] *T*-1 began *-2 [rel trading] [ARGM-TMP last Friday] , climbed 3 1\/8 to 23 on 944,000 shares .
- Separately , the hotel and gambling giant said 0 it was proceeding with plans * to make a tender offer and solicit consents with respect to approximately $ 1.4 billion *U* of its [ARGM-MNR publicly] [rel traded] [ARG1 debt] .
- Turnover was 6.8 million shares , including [ARG1 about four million shares] [rel traded] * [ARGM-TMP in the afternoon] [ARGM-TMP after the shareholders ' meeting] .
- [ARGM-TMP Until then] , [ARG1 options] had been [rel traded] *-1 [ARGM-LOC only in the over-the-counter market , mostly in New York , and in an almost invisible secondary market operating chiefly by telephone] .
- [ARG1 Reserves] [rel traded] *-1 among [ARG2-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million or more *U*] .
- NatWest , the [ARGM-MNR most] actively [rel traded] of [ARG1-of the banks] , finished at 300 , up 1 .
- [ARG1 International Proteins shares] did [ARGM-NEG n't] [rel trade] [ARGM-TMP yesterday] [ARGM-LOC on the American Stock Exchange] .
- The SEC , *-3 faced *-4 with a major squeeze on options positions , said 0 it *EXP*-2 was necessary * to ensure that [ARG1 options listed * on the exchange] [ARGM-MOD could] be [rel traded] *-1 [ARGM-TMP today and tomorrow] .
- The firm also will permit its members and the public `` to exercise [ARG1 their put and call options contracts] [rel traded] * [ARGM-LOC on the Pacific exchange] '' even if the exchange is closed , said 0 *T*-1 Wayne Luthringshausen , chairman of Options Clearing .
- In addition , specialists on the exchanges agreed *-1 to provide backup capital for market-making in [ARG1 Pacific exchange options] [rel traded] * [ARGM-LOC on the exchanges] .
- [ARG1 The stock] [rel traded] [ARGM-TMP late yesterday] [ARGM-LOC on London 's stock exchange] at [ARG3-at 673 pence] , [ARGM-MNR up 19 pence] .
- [ARG1 Reserves] [rel traded] among [ARG2-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million *U* or more] .
- [ARG1 Shares of the new partnership] [ARGM-MOD would] [rel trade] [ARGM-LOC on an exchange] [ARGM-MNR like a stock] .
- In 1989 , Mr. Steinhardt says 0 [ARG0 he] made money *-1 [rel trading] in [ARG1-in Texas Air , AMR and UAL] .
- `` [ARG0 We] 're [rel trading] [ARGM-MNR with a very wary eye on Wall Street] , '' said *T*-1 Trevor Woodland , chief corporate trader at Harris Trust & Savings Bank in New York .
- [ARG0 *-1] [rel Trading] [ARGM-MNR on little specific information] , market players overnight in Tokyo began *-1 bidding up oil prices .
- [ARGM-TMP As investors speculated about the long - and short-term implications] , [ARG1 shares of a number of companies that *T*-2 might either profit or face problems because of the disaster] were [ARGM-MNR actively] [rel traded] *-1 .
- [ARG1 Shares of Kasler , a California road and bridge builder ,] were [ARGM-MNR heavily] [rel traded] *-1 , [ARGM-ADV *-1 jumping 2 1\/8 to 9 7\/8 on 1.3 million shares] .
- [ARG1 The value] [rel traded] * [ARGM-LOC on the exchanges] is close to $ 3 trillion *U* .
- [ARG0 Japan and Europe , far more dependent on Mideast oil than the U.S. ,] [ARGM-MOD would] [ARGM-NEG n't] offend the Arabs or [rel trade] [ARGM-DIR off] [ARG1 their precious supplies] .
- [ARG0 Racal Electric] , which *T*-1 [rel traded] [ARG1 11 million shares] , declined 12 to 218 .
- Paris closed lower , and [ARG1 most Brussels shares] were unable *-1 to [rel trade] for a second consecutive day because of technical problems .
- Normally , once the underlying investment is suspended *-1 from trading , [ARG1 the options on those investments] [ARGM-DIS also] do [ARGM-NEG n't] [rel trade] .
- [ARG1 Reserves] [rel traded] * among [ARG2-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million *U* or more] .
- Enserch Corp. said 0 about 12 million , or 93 % , of the [ARGM-MNR publicly] [rel traded] [ARG1 units] of its limited partnership , Enserch Exploration Partners Ltd. , were tendered *-1 in response to an offer that *T*-2 expired Monday .
- [ARG1 About 900,000 units] will continue *-2 to be [ARGM-MNR publicly] [rel traded] *-1 [ARGM-LOC on the New York Stock Exchange] , Enserch said 0 *T*-3 .
- [ARG1 The stock , which *T*-1 finished Monday at 29 1\/2 ,] [rel traded] [ARG3 as high as 29 3\/4 and as low as 28 3\/4] [ARGM-TMP before *-2 closing at 29 1\/4 , down 1\/4] .
- Gold , which *T*-1 has n't risen or fallen significantly in quite some time , yesterday achieved what *T*-2 may be a new level of impassiveness : The [ARGM-MNR most] actively [rel traded] [ARG1 futures] contracts closed unchanged despite nervous fluctuations in both the dollar and the stock market .
- [ARG1 The March futures contract] [rel traded] [ARG3 as high as 14.24 cents] , but could n't sustain the advance , '' he said *T*-1 .
- [ARGM-TMP Yesterday] , [ARG1 gold] [rel traded] [ARGM-MNR within a narrow range] .
- `` [ARG1 December delivery gold] is [rel trading] in [ARG3-in a range of $ 365 to $ 375 *U* -LCB- an ounce -RCB-] and is having difficulty * breaking out above that , '' Mr. Savaiko said *T*-1 .
- [ARGM-ADV *-1 Valued as a buy-out target] , [ARG1 the airline stock] was [rel trading] at [ARG3-at nearly $ 280 *U* a share] .
- [ARGM-ADV Presumably] , [ARG1 UAL] is [ARGM-TMP now] [rel trading] [ARGM-MNR closer to its value based * on earnings] .
- Or did Mr. Chestman only hear [ARGM-CAU a market rumor] -LRB- which [ARG0 one] [ARGM-MOD may] [ARGM-MNR lawfully] [rel trade] upon *T*-1 -RRB- ?
- [ARG1 UAL] was watched *-1 closely and [rel traded] *-1 [ARGM-MNR heavily] .
- They note that [ARG1 the U.S. unit] is [rel trading] at [ARG3-at the upper end of the presumed target zones established * by the Group of Seven trading partners] .
- [ARG0 Traders who *T*-2 stand on the pit 's top step , where most customer orders are executed *-1 *T*-3 ,] [ARGM-MOD ca] [ARGM-NEG n't] [rel trade] for [ARG4-for themselves] .
- He said 0 [ARG1 the stock] has [ARGM-NEG n't] [rel traded] below [ARG3-below 1 1\/2 times book value *ICH*-3] [ARGM-TMP over the past 10 years] , which at the moment *T*-1 computes to a stock price of $ 100 *U* .
- For the first time since the 1987 crash , traders said that [ARG0 they] were able *-1 to [rel trade] [ARG1 several hundred S&P 500 contracts at a time] [ARGM-LOC in a highly liquid market] .
- But traders said 0 the junk bond market increasingly is separating into a top-tier group , in which trades can be executed *-1 easily *T*-2 , and a larger group of lower-quality bonds in which liquidity -- or the ability [ARG0 *] to [rel trade] [ARGM-MNR without too much difficulty] -- has steadily deteriorated this year *T*-3 .
- No [rel trading] [ARG1 *ICH*-1] existed for the vast majority of junk bonds , securities industry officials said 0 *T*-2 .
- `` [ARG1 Nothing] [rel traded] [ARGM-TMP on Friday] , and people were n't really sure where the market should have opened '' yesterday *T*-1 , said 0 *T*-2 Raymond Minella , co-head of merchant banking at Merrill Lynch & Co .
- `` He 's done this thing where [ARG0 he] [ARGM-MOD 'll] buy a little bit of a company and then [rel trade] [ARGM-LOC out of it] *T*-1 .
- [ARG1 AMR] was [rel trading] at [ARG3-at around $ 84 *U*] [ARGM-TMP yesterday] [ARGM-TMP before his withdrawal announcement] , then immediately fell to about $ 76 *U* .
- [ARGM-TMP As 2:30 p.m. -- Wall Street 's opening time -- neared] , [ARG0 Shearson traders and salesmen] [rel traded] [ARG1 bets on how low the New York market would open *T*-2] .
- The firm 's drop in net reflected weaker revenue in transactions for its own account -- a decline of 19 % to $ 314.6 million *U* on reduced revenue from [ARG0 *] [rel trading] [ARG1 fixed-income securities] .
- `` [ARG0 We] did [ARGM-NEG n't] [rel trade] [ARG1 much] [ARGM-TMP today] , [ARGM-CAU as our policy now is * to wait and see] , '' said *T*-1 a fund manager at Taisho Life Insurance Co .
- All eyes were on Tokyo at the opening because it was [ARG0 the first major market] 0 *T*-1 to [rel trade] since Friday 's 190.58-point plunge on Wall Street .
- [ARGM-DIS But] [ARG1 most of the 30 blue-chip stocks in the average , including Eastman Kodak and General Motors ,] [ARGM-MOD could] [ARGM-NEG n't] [rel trade] [ARGM-CAU because of the heavy backlog of sell orders left * over from Friday 's late-afternoon rout] .
- Some 24 million of [ARG1 the more than 100 million shares] [rel traded] * [ARGM-TMP in the final 90 minutes of Friday 's session , when the plunge in stock prices was concentrated *-1 *T*-2 ,] were program-related , he said 0 *T*-3 .
- Mr. Phelan said 0 the performance of specialists during Friday 's plunge was admirable , because out of [ARG1 1,640 Big Board common stocks] [rel traded] * [ARGM-TMP during the day] only seven *T*-1 were closed *-2 and were n't reopened *-2 before the close .
- [ARG0 Jay Goldinger] , who *T*-1 [ARGM-TMP often] [rel trades] [ARGM-TMP overnight] for [ARG4-for Capital Insight Inc. , Beverly Hills , Calif.] , said 0 trading in Tokyo was `` very active '' but highly volatile .
- [ARG1 ADT , a security services and auctions company ,] [rel trades] [ARGM-LOC on London 's Stock Exchange] .
- [ARG1 Reserves] [rel traded] among [ARG2-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million *U* or more] .
- [ARG1 The more active December delivery gold] settled with a gain of $ 3.90 *U* an ounce at $ 371.20 *U* , after *-1 [rel trading] [ARG3 as high as $ 374 *U*] .
- Other , [ARGM-MNR more] thinly [rel traded] [ARG1 Asian] markets were hit *-1 harder than Tokyo 's , but there were no free-fall declines .
- `` The first thing that *T*-1 caught my eye that *T*-2 was encouraging was 0 Treasury bonds were off , '' says *T*-3 Austin George , head of [ARG1 stock] [rel trading] at T. Rowe Price .
- [ARG1 The stock] has since softened , *-1 [rel trading] [ARG3 around $ 25 *U* a share] [ARGM-TMP last week] and closing yesterday at $ 23.00 *U* in national over-the-counter trading .
- [ARGM-TMP At the end of the day] , [ARG1 251.2 million shares] were [rel traded] *-1 .
- At 2:43 p.m. EDT , came the sickening news : The Big Board was halting [rel trading] in [ARG1-in UAL] , `` pending news . ''
- On the exchange floor , `` as soon as [ARG1 UAL] stopped *-2 [rel trading] , we braced for a panic , '' said 0 *T*-1 one top floor trader .
- When trading *ICH*-3 was halted *-1 in Philip Morris *T*-2 , [ARG1 the stock] was [rel trading] at [ARG3-at 41] , down 3 3\/8 , while IBM closed 5 5\/8 lower at 102 .
- At about 3:30 p.m. EDT , [ARG1 S&P futures] resumed *-1 [rel trading] , and for a brief time the futures and stock markets started *-2 to come back in line .
- [ARG1 Seven Big Board stocks -- UAL , AMR , BankAmerica , Walt Disney , Capital Cities\/ABC , Philip Morris and Pacific Telesis Group --] stopped *-1 [rel trading] and never resumed .
- But specialists complain privately that just as in the 1987 crash , the `` upstairs '' firms -- [ARG0 big investment banks] that *T*-1 support the market by *-2 [rel trading] [ARG1 big blocks of stock] -- stayed on the sidelines during Friday 's blood-letting .
- Alan Nymark , executive vice president of Investment Canada , which *T*-1 oversees foreign takeovers , said 0 it marked the first time in its four-year history that the agency has made an adverse net-benefit decision about the acquisition of a [ARGM-MNR publicly] [rel traded] [ARG1 company] *T*-2 .
- The New York Stock Exchange said 0 [ARG1 two securities] will begin *-1 [rel trading] [ARGM-TMP this week] .
- [ARG1 Precision Castparts Corp. , Portland , Ore. ,] will begin *-1 [rel trading] [ARGM-MNR with the symbol PCP] .
- [ARG1 It] makes investment castings and has [rel traded] [ARGM-MNR * over-the-counter] .
- [ARG1 It] will continue *-1 to [rel trade] [ARGM-LOC on the International Stock Exchange , London] .
- [ARG1 AIM Telephones Inc. , a Parsippany , N.J. , telecommunications equipment supply company ,] started *-1 [rel trading] [ARGM-MNR with the symbol AIM] .
- [ARG1 It] had [rel traded] [ARGM-MNR * over-the-counter] .
- [ARG1 Columbia Laboratories Inc. , Miami ,] began *-1 [rel trading] [ARGM-MNR with the symbol COB] .
- [ARG1 The pharmaceuticals maker] had [rel traded] [ARGM-MNR * over-the-counter] .
- The subject is a sore one for Nasdaq and its market-making companies , which *T*-3 were widely criticized *-1 two years ago following complaints from [ARG0 investors] who *T*-2 [ARGM-MOD could] [ARGM-NEG n't] reach their brokers or [rel trade] [ARGM-LOC in the chaos of the crash] .
- [ARG1 Reserves] [rel traded] among [ARG2-among commercial banks] [ARGM-PNC for overnight use] [ARGM-MNR in amounts of $ 1 million *U* or more] .
- These included [ARG1 International Business Machines Corp.] , which *T*-1 [ARGM-TMP during Friday 's session] [rel traded] below [ARG3-below $ 100 *U* a share] [ARGM-ADV for the first time since June 1984] .
- Following is *T*-1 a weekly listing of unadited net asset values of [ARGM-MNR publicly] [rel traded] [ARG1 investment] fund shares , reported * by the companies as of Friday 's close .
- [ARG0 Employees] have the right * to [rel trade] [ARG1 stock] [ARGM-LOC among themselves] , and the company will establish an internal clearing house for these transactions .
- Under a reform arising from the 1987 crash , [rel trading] in [ARG1-in the Merc 's stock-index futures] will break for 10 minutes if the contract opens and stays five points from Friday 's close , a move equal to 40 points on the Dow Jones Industrial Average .
- A report by the conservation group presented * at the U.N.-sponsored Convention on International Trade in Endangered Species in Lausanne accused [ARG0 the four] of *-1 [rel trading] [ARG1 protected species ranging from parakeets to orchids] .
- [ARG1 The dollar] was [rel trading] [ARG3 sharply lower] [ARGM-LOC in Tokyo] .
- Takeover-stock traders today will be scrambling *-1 to learn of any UAL developments , and [ARG1 other takeover stocks] are likely * to [rel trade] [ARGM-ADV in sympathy] .
- [ARGM-TMP Before the halt] , [ARG1 AMR] [ARGM-TMP last] [rel traded] at [ARG3-at 98 5\/8] .
- [ARGM-TMP Late Friday night] , [ARG0 the London office of Jefferies & Co. , a Los Angeles securities firm ,] [rel traded] [ARG1 AMR shares] at [ARG3-at prices as low as 80] .