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To: GST who wrote (100918)	4/14/2000 10:42:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

an <"shorting shares" are pure margin positions; and therefore a material part of the margin debt?> I never even thought of that! But I am pretty sure it is counted as short shares because shares are the currency of shorting -- whereas margin is owed in dollars. GST, I believe I can clarify this a bit. All long cash positions are held in the account called type 1. All long margin positions ere in type 2 and all short positiones are in type 3. This is consistant with all brokerage house so that ACAT transfer go through without a hitch. Short shares in type three is considered a margin acount but only for the reason the loss possibility is infinite. That is not true with a long cash position. Short shares are not really counted as shares on margin.