  Within the algebraic setting of quantum field theory, a condition is given
which implies that the intersection of algebras generated by field operators
localized in wedge--shaped regions of two--dimensional Minkowski space is
non--trivial; in particular, there exist compactly localized operators in such
theories which can be interpreted as local observables. The condition is based
on spectral (nuclearity) properties of the modular operators affiliated with
wedge algebras and the vacuum state and is of interest in the algebraic
approach to the formfactor program, initiated by Schroer. It is illustrated
here in a simple class of examples.
