21.   Knight executed these orders, which were made late in the day, so the firm could trade for its own account that afternoon, NASD said.

22.   Later that same day, before the custody order was executed, Ms. M.W. voluntarily went to another in-patient drug-treatment center.

23.   Most problems arose when buy orders on Tuesday morning were not executed until after prices had risen.

24.   One of the reforms being made at Nasdaq makes it easier to execute the orders to buy or sell stocks at specific prices.

25.   Papyrus Technology Corp. in New York has patented a system using hand-held devices that allow floor brokers to receive and execute orders electronically.

26.   PAWWS also separates orders coming in from those it sends to the three discount brokers where the orders are executed.

27.   Strauss said he expected the new system to appeal to investors because of the increased speed at which orders could be executed.

28.   The figures will also show how fast orders were executed.

29.   The idea is to give a small trader the advantage of seeing all the market has to offer, choosing the best price and executing the order within seconds.

30.   The lack of certainty regarding execution may provoke some criticism, although Ketchum pointed out that in some cases limit orders were not executed on other stock markets either.