1.   American Depository Receipts, or ADRS, are equities which are traded on both local exchanges and in New York, at comparable prices.

2.   Analysts said the two firms should be on the upswing this quarter, bolstered by stronger growth in sales to CLECs, or competitive local exchange carriers.

3.   As archaic as it may seem, more than a thousand small, independent local exchange companies like Richmond Telephone still do business in the United States.

4.   BellSouth said the new unit will soon file for certification as a so-called competitive local exchange carrier in states inside and outside its traditional southeastern market.

5.   BellSouth wants authority to get into long distance to connect to its local exchanges, as well as enable it to offer bigger long distance networks, Ackerman said.

6.   A large part of that may be chalked up to problems among competitive local exchange carriers, the companies that would give you choice.

7.   A large part of that may be chalked up to the crisis among competitive local exchange carriers, the companies that would give you choice.

8.   Chilean stocks traded on local exchanges gained today as domestic investors bought shares in anticipation of a cut in Chilean rates.

9.   Choice One, for example, is a competitive local exchange carrier that offers DSL to small and medium-sized businesses in most Central Massachusetts towns.

10.   Competitive local exchange carriers saw them as slow to react and overpriced, their markets ripe for exploitation.