$ cat names.out
n1
n2

$ cat market.out
m1
m2

$ cat fnam.sh
#!/bin/sh
for ns in `cat names.out`
        do
        for ms in `cat market.out`
                do
                echo "Creating $ns.$ms.$1"
                touch "$ns.$ms.$1"
                done
        done

$ ./fnam.sh 01232008.batch1.dat
Creating n1.m1.01232008.batch1.dat
Creating n1.m2.01232008.batch1.dat
Creating n2.m1.01232008.batch1.dat
Creating n2.m2.01232008.batch1.dat