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To: gbh who wrote (4995)8/16/1998 10:04:00 PM
From: Sword  Respond to of 12617
 
gbh: You're right. I was mixing one issue with another. The downtick rule is averted by the boxed hedge, which requires two accounts. However, to go from long to short might be accomplished without breaking of SEC rules by Datek automatically correctly closing out the long in the type 2 and then shorting in the type 3. Apparently Datek has managed to implement this.

Interesting.

-Sword



To: gbh who wrote (4995)8/16/1998 10:07:00 PM
From: Sword  Read Replies (2) | Respond to of 12617
 
gbh: But you know I still have my doubts....

How does Datek handle the downtick rule in mixing going from long to short with a single order? Plus, I remember Steve Goldman talking about this and indicating that it couldn't be done at Yamner.

Have you ever personally done this Datek, gbh, or is it just something you've heard about?

-Sword


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