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Non-Tech : Waterhouse Securities

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To: NIng Zhao who wrote (434)3/30/1998 7:24:00 PM
From: dumbmoney   of 2076
 
<< Is the process completely automated for the user(ie. No need to get on the phone with a broker). How fast do shares get borrowed and trade status become active? >>

Short sell orders must be approved by a human. This can take an indeterminate amount of time, generally 3-10 minutes. You don't have to phone. If there are no shares available for borrowing, the order will be marked "Rejected", otherwise it will go to "Open" status and sent to market. Hint: Share availability is determined daily, so if your order is rejected, try again the next day.
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