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Cancellation ExceptionLink to Memo
Order was cancelled after partial execution
Complete order took longer than 90 seconds to execute - Duration Exception @ 15:40:39

Branch Seq. Num Action Qty Symbol Price TIF Time
ARB 185 Buy 900 GLB 18.580 DAY Thu Jun 03 15:39:09 2004

Bid - Ask Agg. Volume Count Bid Tick Time
Entry (n) 18.570 - 18.580 (n) 300 x 800 1 x 1 + 15:39:09Link to Time and Sales
At/Within Spread (n) 18.570 - 18.630 (n) 300 x 1700 1 x 1 + 15:39:11Link to Time and Sales
Execution of order was not obligatory. Using NBBO at execution as the trigger for analysis

Bid - Ask Agg. Volume Count Bid Tick Time
Cancellation Request (n) 18.590 - 18.610 (n) 300 x 600 1 x 1 p 15:44:36Link to Time and Sales
Cancellation Confirmed (n) 18.590 - 18.610 (n) 300 x 600 1 x 1 p 15:44:38Link to Time and Sales

Cancellation requested at:15:44:36
Cancellation confirmed at:15:44:38
Elapsed time between request and confirmation:2 seconds
Elapsed time since entry:5m 29s
Unexecuted shares:500

Order status after 1 execution - 500 shares remaining
Execution Vs. Trigger Price
Exec.ElapsedQuantityPriceImp./ShareImp. TotalLeavesTime
1+8s40018.5800.0520.00Lvs50015:39:17Link to Time and Sales
(n) 18.580 - 18.630 (n)1000 x 17001 x 1+Trend Up
18.480 - 18.730100 x 1001 x 1  
The VWAP of the 1200 shares traded over this 2 trade (8 seconds) interval was: 18.5804
There were 1300 additional shares available at or better than the current execution price from 1 Market Maker 
Execution was displayed properly by NBBO at 15:39:11, but not by NYSE
Total Trigger Price Improvement: 20.00

Execution Vs. NBBO Price
Exec.ElapsedQuantityPriceImp./ShareImp. TotalLeavesTime
1+8s40018.5800.0520.00Lvs50015:39:17Link to Time and Sales
(n) 18.580 - 18.630 (n)1000 x 17001 x 1+Trend Up
18.480 - 18.730100 x 1001 x 1  
The VWAP of the 1200 shares traded over this 2 trade interval was: 18.5804
There were 1300 additional shares available at or better than the current execution price from 1 Market Maker 
Execution was displayed properly by NBBO at 15:39:11, but not by NYSE
Total NBBO Price Improvement: 20.00

info@qualityofexecution.com | Exception prepared by AHROM Exception Viewer b125 on Wed Jun 09 00:27:40 2004 | www.qualityofexecution.com