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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

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Aug 24 5:00 PM EST

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To: nic who wrote (19580)	11/29/1998 12:23:00 PM
From: George Dawson	Read Replies (1) of 29386

nic, Go to the trader manual at: nasdaqtrader.com Then open chapter 9 (it is a .pdf document) and look at the section entitled Mandatory Close-Out for Sort Sales. My interpretation is that if the number of shares to sell short reaches a certain limit that the borrowed shares need to be delivered in 10 days or the short sale needs to be covered. A security with these limitations was designated as a UPC 71 security but there is now a new rule designation. The other issue of course is that the rule applies to short sales "for a customer or a member's own account" meaning NASD members. George D.

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