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Technology Stocks : Information Architects (IARC): E-Commerce & EIP

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To: Hardware Heister who wrote (3174)	11/12/1997 5:36:00 AM
From: Jeffrey S. Mitchell	Read Replies (4) of 10786

Re: Marginability of ALYD Approval by the Fed is the single biggest hurdle a stock must overcome in order to be margined. Under the Markets Improvement Act passed a year ago, an NMS listing now means automatic Fed approval for marginability. Yes, of course the ultimate decision is made by the actual lending institution. ( For more info on this, see: savoystocks.com ) Most NMS stocks get listed on the exchange by way of an IPO. Since they had no prior trading history they usually were not marginable right away as I recall. As an OTC-BB stock, however, ALYD does have an established trading history. I don't think volatility has anything to do with the approval process; I think the stock just has to show that it is not in any danger of dipping under $5 and that it has a reasonable and sustained daily trading volume. Perhaps you could be more specific as to a particular stock that was on the NMS that was not an IPO and was not marginable because of its volatility? Thanks. As for ALYD, I'm not worried... but first things first (i.e let's get listed!). - Jeff

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