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To: insider who wrote (1363)12/17/1997 2:13:00 AM
From: TraderGreg  Respond to of 1702
 
OK, so MMs have to cover...eventually and it has nothing to with whether a stock is in street name or cert form. They get away with this naked shorting because the SEC/NASD doesn't care?

Next question: Have you ever heard of an MM who permits a trusted client to short a non-marginable stock? If that, albeit perilous, relationship existed, would it be similar to the MM in that no real shares were borrowed.

TG



To: insider who wrote (1363)12/17/1997 2:17:00 AM
From: DGMAC  Read Replies (1) | Respond to of 1702
 
And real companys get delisted if they don't have a sufficient number of MM's. I believe there is a reason for this.

This is a good topic, and even if everyone is in the red tonight on this thread, it is good to discuss float, clearing of trades, MM's, etc., so we all understand what is happening when a company with fundamental strength is dropping faster than a diamond watch from the Titanic.

DGMAC


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