Bond-orientational order (BOO) along with positional disorder over large distances is a very special state of ordering in condensed matter systems. It particularly occurs within liquid crystalline (LC) materials with different types of smectic ordering formations. In this paper, the phase-transitional behavior of the LC material c5hl 1-cy-phf-ph-cy-c5hI1 has been investigated using in situ selected area electron diffraction (SAED) and complementary methods. Direct proof is presented of the hexatic ordering parameter within the intermediate phase of this LC material between the crystalline smectic-B (S B ) phase and the liquid-like smectic-A (S A ) phase.