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Non-Tech : Radica Games (RADA) -- Ignore unavailable to you. Want to Upgrade?

To: Char who wrote (1921)	1/15/1998 1:01:00 PM
From: Hank	Read Replies (1) \| Respond to of 7111

David, I must confess that I am not certain that this is how it works but I don't see how it could be any other way. If you sell a stock short naked, the buyer of that stock would expect delivery of the certificate within 3 days. Otherwise, the buyer is buying nothing at all. The MM's may not have to adhere to many regulations but I don't think they can sell something naked and then have an infinite time to deliver. What happens if the buyer demands physical delivery of the certificate on the 3rd day or sells it again? You'd have a hard time keeping track of who owes who what I would think. Of course, if they are managing to borrow everything they short, then it's a moot point. If anyone can answer this question with certainty, I'd be interested in hearing how this works. Hank