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Matlab code runs in the Matlab script node (examples ship with LabVIEW). As noted, Matlab and MathScript are completely independent. Mathscript syntax is similar to Matlab, but it's not 100% equivalent. While some Matlab code will run in a MathScript node, it all depends on what the code is. Using the Matlab script node requires that Matlab be installed on the machine. This is true for the development environment as well as the Run-Time environment.