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Technology Stocks : Track Data Corporation TRAC

TRAC 20.00

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Oct 7 10:48 AM EST

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To: klambet who started this subject	3/11/2001 12:50:28 AM
From: 2MAR$	of 2005

SEC Tightens Equity-Margin Rule for Day Traders on NYSE, NASDAQ 3/8/01 3:27 PM Source:Bloomberg News Washington, March 8 (Bloomberg) -- The Securities and Exchange Commission approved a rule that day traders keep at least $25,000 of equity in an account if they use borrowed money to trade on the New York Stock Exchange and Nasdaq Stock Market..... ....At the same time, the SEC eased another margin restriction. Traders with the necessary equity will be allowed to borrow four times the amount of equity or cash in their accounts. Until now, they could borrow just twice what they had in equity..... Lee predicted the new rules will have a major impact on a category of day traders he calls ''day traders lite'' -- a group he estimates at between 400,000 to 500,000 people using online accounts run by Charles Schwab Corp., E*Trade Group and similar online firms. " cnet.com

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