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Provides information on the short interest on the Nasdaq Stock Market as of March 25, 1999. Nasdaq SmallCap Market; Definition of short interest; Short-interest ratio; Companies that have the largest decreases in short interest.

Discloses that Sherwood Securities Corp. became the first Nasdaq Stock Market dealer to plan to settle civil allegations of improper trading practices by agreeing to pay nearly $9.2 million. Proposed settlement which requires approval of US District Judge Robert Sweet in Manhattan; Class action lawsuit, as closely watched; View that larger firms are unlikely to settle.

Announces that the National Association of Securities Dealers' (NASD) new president, Frank G. Zarb, is considering consolidating the boards of both the Nasdaq market and the NASD Regulation, the NASD's regulatory arm. How the new structure may put less distance between the regulatory responsibilities of NASD and its running of the Nasdaq market; Question of whether the current structure is too unwieldly.

Details the activities of the professional day traders who spend their time watching prices on the Nasdaq Stock market and making quick moves. The Small Order Execution System (SOES) as their main tool; Known as an SOES bandit; Number of day traders; Where these traders get their stocks; Where they work.

Reports on the first day of trading, Monday, July 20, 1997, under new order-handling rules for the Nasdaq Stock Market. New rules, which are aimed at giving small investors better information and access to the best stock prices; Challenge of a settlement reached in July 1996 between some of Nasdaq's biggest market-making firms and the Justice Department.

Considers the Nasdaq's new rules that are expected to dramatically change the way prices are set for Nasdaq stocks. Hope that investors will have access to the best prices; Starting date; Implementation by Wall Street of the programming changes required to comply with the rules; Previews of the new regulations.

Looks at what happened on Wall Street, as of Thursday, December 5, 1996. Rise of the Dow Jones Industrial Average by 14.16 points to 6437.10; Rise of Nasdaq Composite Index by 3.10 to 1300.12; Declining Treasury prices; Decline of dollar.

Looks at what happened on Wall Street on Monday, November 11, 1996. The new high hit by the Nasdaq, which rose 5.16 points to reach 1262.67; Rise of the Dow Jones industrial average by 35.78 to 6255.60; Mild trading volume; Bond market closed; Fall in the dollar.

Takes a look at what happened on Wall Street, as of October 7, 1996. The retreat of the Dow Jones industrial average from its run on the 6000 mark; Fall in both bond prices and the dollar; The record set by the Nasdaq Composite Index; Fall of the Dow by 13.05 points to 5979.91; The bullish view taken by Morgan Stanley's chief economist Stephen Roach and United States investment strategist Byron Wien.

Announces that the stocks of a number of formerly favorite companies that were knocked down in 1996 have been rebounding. The rise of the Nasdaq composite by only 15 percent; The Russell 2000 index; Recovery underway for technology and other highflying stocks; Sampling of some of the more than 700 rebounding stocks; Micro Warehouse; Dell Computer; Vitesse Semiconductor; Systemsoft; Barringer Technology; Others.

Takes a look at what happened on Wall Street as of Wednesday, September 18, 1996. The Dow Jones Industrial Average down by 11.47 to 5877.36; Gain in the Nasdaq Composite Index by 2.40 to 1205.71; Little change in bond prices; Drop in dollar.

Reports the New York Stock Exchange's complaint in a letter to the Securities and Exchange Commission (SEC), that the Big Board is at a competitive disadvantage to the Nasdaq Stock Market. Complaints about the Nasdaq method of counting volume; How the conflict illustrates the constant war for market share and the most direct attack of one market on the other.

Speaks of a correction in the Nasdaq Stock Market, occurring in mid-June 1996. How the Nasdaq Composite Index has fallen 5.6 percent since hitting a record high on June 5, 1996; Small stocks on the Nasdaq Stock Market undergoing firm drops in prices; Investors starting to feel concern; High profile launches suffering heavy losses; Quantum, Altera and Accustaff among stocks with declining prices.

Reports that the Securities & Exchange Commission (SEC) is seeking a settlement of its investigation into the Nasdaq Stock Market. The SEC's desire to publicly censure, but not fine, the National Association of Securities Dealers, which runs the Nasdaq market; How the SEC could use a disciplinary document's findings to demonstrate the need for a series of new rules designed to enhance rules enforcement and dealer competition.

Reports that regulators at the National Association of Securities Dealers (NASD) are alarmed by the volume and volatility in Nasdaq small-capitalization stocks. Steps to try to keep the Nasdaq SmallCap Market from getting out of hand; The record-breaking volume of fingerprint-identification company Comparator Systems, which set off the concern.

Informs that the National Association of Securities Dealers (NASD) is reviewing the trading activity in shares of Comparator Systems. The four days of scorching volume for stock of the fingerprint-identification company; The company's previous obscurity.

Focuses on the activity of the Nasdaq Stock Market in 1996. Its fifth consecutive record in April; Reasons for the market surge including a double-barreled market development; Performance of technology and small-capitalization stocks; The changing of shares in the first quarter; Signs of whether the market will slow down.

Reports on the new small-investor trading system proposed by the National Association of Securities Dealers to the US Securities and Exchange Commission in the fall of 1995. Further changes which the NASD wishes to propose in early 1996 to the system, which is termed NAqcess; Reaction on Wall Street; Provisions of the new system including more competitive quotes. INSET: NAqcess Q&A.

Reports that the National Association of Securities Dealers (NASD) is trying to persuade the US Securities and Exchange Commission (SEC) to revise the documents the SEC would file as part of the settlement between them on the issue of NASD's failure to discipline its dealers. Terms in the document which were considered as harsh language by NASD.

Reports on short interest in stocks being traded in the NASDAQ Stock Market as of July 24, 1996. Small and capitalization stocks; Companies with the largest volume increases and decreases in short interest; Companies with the largest short positions.

Reports on the probe into the National Association of Securities Dealers' (NASD) knowledge on the problems with trading spreads in the United States. US Department of Justice' claims on certain anticompetitive trading practices in the stock market; Concerns on NASD's ability to police broker practices.

Reports on the plans of the US Justice Department to force about two dozen securities firms to randomly tape-record trader conversations on their over-the-counter desks as part of an expected settlement of a two-year probed on alleged price fixing on the Nasdaq Stock Market. Efforts to prevent price fixing among dealers; Justice Department's threats to file its lawsuits against the firms.

Reports on the 34.83-point decline in the Composite Index of the NASDAQ Stock Market on July 11, 1996. Factors for the market plunge; Weakness of the computer group.

Reports that the National Association of Securities Dealers has elected Daniel P. Tully as chairman and chief operating officer of Merrill Lynch & Co. Inc.

Reports on a decline in short interest in small capitalization stocks and a rise in short interest in larger issues in the United States as traded on the Nasdaq Market System as of June 14, 1996. Largest short positions; Largest short interest issues; Largest changes; Largest percentage increases and decreases.

Reports on the hiring of Barry Goldsmith as the head of the National Association of Securities Dealers' enforcement operations. Career background on Goldsmith; Goal of strengthening regulation of the Internet against potential fraud or stock manipulation; Seven departments of the NASD Regulation Inc.

Reports on Comparator Systems request for the delisting of its stocks from the Nasdaq Market System's small capitalization market. Comparator's reasons for requesting the delisting; Financial performance of the company.

Reports that the Securities and Exchange Commission has criticized the National Association of Securities Dealers for lax enforcement of rules that restrict campaign contributions by municipal-bond executives. Muni-market abuses; Underwriting of bonds.

Reports on the performance of small-capitalization and Nasdaq stocks on May 28, 1996. Fall of the Russell 2000 index of small-capitalization stocks; Performance of individual companies' stocks; Nasdaq's extension of the trading halt in beleaguered fingerprint-ID company Comparator Systems' shares until it provides more information about its issues.

Reports on the rise in short interest on the Nasdaq stock market during the month of April 1996. Increase in smaller-capitalization stocks; Small-cap and large-cap Nasdaq securities; Drop in Nasdaq National Market's short-interest ratio.

Reports on the stock market results of the Nasdaq market system as of May 16, 1996. Performance of the Russell 2000 small-capitalization index; Stock performance of Lasertechnics; Plans to require Nasdaq-listed companies to use auditors who meet a higher standard than now.

Reports that trading for Newport Beach, California-based fingerprint-ID company Comparator Systems was halted to give it time to address the National Association of Securities Dealers' questions about the company's financial statements.

Reports that Baltimore, Maryland-based Alex Brown & Sons Inc. managing director and senior banker Alfred R. Berkeley was elected president of the Nasdaq Stock Market Inc.

Reports that Alex. Brown Inc. managing director Alfred R. Berkeley III is the front-runner to become the new president of the Nasdaq Stock Market. Broad restructuring of the National Association of Securities Dealers (NASD); Characteristics being sought by the NASD in its search for a new Nasdaq president; Responsibilities of a Nasdaq president; Executive appointments at other companies.

Reports on the New York district discipline committee of the National Association of Securities Dealers' (NASD) crackdown at brokerage firm Stratton Oakmont Inc. Order for Stratton to disgorge excessive markups alleged by NASD the firm charged for warrants in small stock; Case background; Other crackdowns on brokerage executives who fail to supervise newly hired brokers with disciplinary histories.

Focuses on the views of former National Association of Securities Dealers executive Patrick Healy on the restructuring of Nasdaq Stock Market. Formation of the Nasdaq as a publicly held company regulated by an independent NASD and the Securities Exchange Commission; Separation of enforcement arm from the stock market.

Reports on the decline of small capitalization stocks and stocks in the Nasdaq Market System as of April 11, 1996 due to inflation and increasing interest rates. Stock performance profile for selected companies.

Reports that the National Association of Securities Dealers has appointed 23 governors to its boards to bolster representation of investor advocates and nonindustry professionals. Appointment plans for the new president of the NASDAQ Stock Market; Commendations on the appointments; Members of the board.

Reports on the rise in short interest on the Nasdaq Stock Market in February 1996. Increase in the market's interest ratio; Companies with the largest short positions; Companies with the largest increases in short positions.

Reports that the National Association of Securities Dealers ordered Franklin N. Wolf to pay $7.9 million in restitution to investors in a penny stock sold by the F.N. Wolf & Co. brokerage firm in 1991. Appeal of case to the Securities and Exchange Commission.

Reports on the plans of the National Association of Securities Dealers (NASD) to appoint Merrill Lynch & Co. Chairman Daniel Tully and Goldman, Sachs & Co. Senior Partner Jon Corzine to its revamped boards of directors. Changes in NASD's governance structure; Government probes into trading practices by dealers on the Nasdaq Stock Market.

Reports on developments related to the National Association of Securities Dealers (NASD)'s hiring of veteran regulators to work under Mary L. Schapiro, head of NASD's regulatory unit. Regulation of NASDAQ dealer firms.

Reports on the imposition of a fine against Piper Jaffray Inc. by the National Association of Securities Dealers (NASD). Reason for the fine; Piper's investment strategy for the Institutional Government Income Portfolio.

Reports on the 7.5 percent increase in short interest in the NASDAQ Stock Market. Increase in small- and large capitalization issues; Companies with the largest short positions as of-mid February 1996.

Reports that the National Association of Securities Dealers (NASD) has fined Hibbard Brown & Co. $10 million and expelled it for allegedly defrauding customers in the sale of securities in First National Realty Associates Inc. and Linkon Corp. Censure against Hibbard Brown president Richard P. Brown and compliance officer DeJuan Stroud for the alleged fraud.

Reports that small-capitalization stocks rebounded, with the Nasdaq Stock Market's composite index hitting a record. Investors' reaction to the bond market's plunge on Tuesday, February 20, 1996; Selected company stocks performances; Investors' pessimism over construction stocks.

Focuses on Frank G. Zarb, head of National Association of Securities Dealers Inc. (NASD). His responsibility for the operation and regulation of the Nasdaq stock market; How he has kept the NASD's regulatory pressure at full throttle, challenging head-on the predominance of the New York Stock Exchange; His bold move to acquire the American Stock Exchange.

Reports that the boards of the Nasdaq Stock Market's parent and of the American Stock Exchange approved a preliminary merger agreement. The agreement as joining the nation's second-largest and third-largest United States securities market; How the votes by the National Association of Securities Dealers and by the Amex set the stage for a definitive agreement by the two boards; Terms of the preliminary agreement.

Reports on the vote by the boards of the American Stock Exchange (AMEX) and the Nasdaq Stock Market to decide whether to merge. Possible problems in the voting; Fears of AMEX floor brokers; How the percentage of voting power is broken up between the companies.

Discusses some of the changes taking place in the Nasdaq Market System in 1998. The proposed merger with the American Stock Exchange (Amex); Plans for a new system for handling trades at Nasdaq; How investors feel about Nasdaq's decision to link to the OptiMark system; How the OptiMark system works; How the merger will change trade handling for Amex.