/sys$common/syshlp/helplib.hlb MACRO, VAX MACRO Assembler, /LIST  *Conan The Librarian (sorry for the slow response - running on an old VAX)

       /LIST[=filespec]
       /NOLIST

    Creates or omits an output listing, and optionally provides an
    output file specification for it. The default file type for the
    listing file is LIS. No wildcard characters are allowed in the
    file specification.

    An interactive MACRO command does not produce a listing file
    by default. The /NOLIST qualifier, present either explicitly or
    by default, causes errors to be reported on the current output
    device.

    The /LIST qualifier is the default for a MACRO command in a
    batch job. The /LIST qualifier allows you to control the defaults
    applied to the output file specification by the placement of the
    qualifier in the command line. For more information on entering
    output file qualifiers, see the OpenVMS User's Manual.