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To: jbIII who wrote (73)10/4/2001 9:47:56 PM
From: Patrick Slevin  Respond to of 142
 
I've never used online order entry for stocks but I doubt your trade would execute. I think that you would have to have borrowed the stock and then sell it short. The lack of having either parameter in place would probably kick your order back.

When we did it, it was basically on trust, but then again I could back up my short with a code number if I had to...in other words I was given a code when I borrowed the shares. However, I was trading for a firm and they rarely asked.

With a client, I think they probably cross-check to ascertain that the stock is available in the account. If not, the trade probably gets killed before it hits the market.

Best guess, anyway.