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Strategies & Market Trends : From the Trading Desk

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To: Joey who wrote (3838)	11/19/1998 12:13:00 AM
From: peter michaelson	Read Replies (1) of 4969

Joey: Yes, but how is the timing of the buy-in determined? As you say, CNS needs those shorts for delivery, but when did they know they would need them? Doesn't settlement time come into play here - T+3. The lender of my shares (so to speak) sold them (we assume here) and had to deliver the shares in three days. So why could I not get three days lead time to return them to the lender, so that lender could then deliver them to CNS? Peter

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