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Non-Tech : Shorting with Offshore Accounts
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To: The Street who wrote (10)2/9/1999 8:49:00 AM
From: Rajiv  Read Replies (2) of 127
 
Mechanics of Clearing..

If the clearing house is based in Canada and assuming that there are no clients who are long our BB stock XYZ, how does the clearing house maintain its books?

If the offshore brokerage firm is using an American clearing house, won't there be frequent buy-ins ? Does this clearing house maintain separate books for its domestic and foreign brokerage clients ? Aren't the SEC rules applicable to the American clearing houses (irrespective of whether the brokerage firm is domestic or foreign)?

Regards.
Rajiv
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