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Technology Stocks : Finisar - FNSR
FNSR 23.770.0%Sep 24 5:00 PM EST
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To: D. K. G. who started this subject9/13/2002 4:12:15 PM
From: Lane Weatherly  Read Replies (1) of 509
 
FNSR now on the restricted trading list...yeah, that's what i said...what does that mean?
UPC 11830 Indicator

The Uniform Practice Code(UPC) 11830 Indicator, represented by a red 'R' on the Snap Quote Bar and 'Restricted' on our Real-time quote displays, alerts you to the fact that a security has been placed on a "restricted list". This list is compiled daily by the NASD Based on data from the National Securities Clearing Corporation (NSCC). Securities subject to this "restricted" status are those with an aggregate 'clearing' short position of 10,000 or more shares that is equal to or exceeds one half of one percent of the total shares outstanding.
Any subsequent short sale order on one of these "restricted" securities in which the delivery of shares is not completed within the prescribed time frames will be subject to mandatory close out if a fail-to-deliver situation exists 10 days after normal settlement date. In fail-to-deliver transactions, the normal clearance and settlement process is interrupted by a failure to receive the security in question.

This buy-in requirement was put in place to add to the stability of the marketplace. Due to the enforcement of this rule, investors can be assured that these securities are available to cover short positions in times of extreme market volatility. This requirement may also help prevent short-selling abuses that could be harmful to individual investors. For more detailed information, please visit the NASD regulatory web site.
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