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Non-Tech : Meet Gene, a NASDAQ Market Maker -- Ignore unavailable to you. Want to Upgrade?

To: LPS5 who wrote (481)	8/6/2000 7:32:56 PM
From: Bilow	Read Replies (1) \| Respond to of 1426

Hi LPS5; Re the situation where shares are lent out... Suppose a cash account bought the lent shares lent out of a margin account, and borrowed by a short seller. Did I read right that the cash account wouldn't be the one getting the proxy? It sure seems like the cash account should get that kind of stuff, rather than the margin account, as he was the one that signed an agreement stating that his shares could be lent. And if this is the case, and people are buying shares with the intention of voting them for a takeover, for instance, does that mean that a cash buyer of the shares wouldn't actually be able to vote them? Next thing, I'm gonna be up there with Riley, calling for my "certs". -- Carl