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Gold/Mining/Energy : NP Energy Cp New -- Ignore unavailable to you. Want to Upgrade?

To: Lola who wrote (15159)	3/15/1999 4:02:00 PM
From: bully	Respond to of 22810

LOLA, You are "WELCOME"!!! "BULLY" :)

To: Lola who wrote (15159)	3/15/1999 4:20:00 PM
From: bully	Respond to of 22810

LOLA, more information source , "Naked Shorts" VSE By-Laws and Rules Policies Policies Vancouver Stock Exchange Policies Policy Statement CR01 Guidelines Concerning Off VCT Trades Introduction The Exchange considers it necessary for the effective functioning of the market for listed securities that trades be directed through the auction process provided on the Exchange. Among the benefits of this requirement are the application of established auction rules regarding displacement, consistent price/time priority rules and real time reporting of the prices and volumes of trades. Transactions taking place away from the auction market (except under defined circumstances) reduce liquidity, transparency and confidence in the market and ultimately reduce its effectiveness. Accordingly, the Exchange stresses the importance of Rule C.1.08 which reads as follows: "Trades to be executed on VCT - no Member or approved person shall trade or participate in any trade in any listed security whether acting as principal or agent, unless such trade is made on VCT and during a session, except as follows:....." The purpose for this guide is to clarify the types of trades involving Members or approved persons that are necessarily off VCT or that are permitted to be off VCT, and to identify the situations where the approval of the Exchange is required. Most off VCT transactions are straightforward and can be conducted by Members without the approval of the Exchange (C.1.08 (1)(a-g)). Generally speaking, when asked for a special approval to make a transaction off VCT (c.1.08 (2)(a,b,c,d)) the Exchange will try to work with the Member to structure the proposed off VCT transaction in such a manner that it can be done on VCT. The jurisdiction of the Exchange applies to all Members and employees of Members and to transactions of associates and affiliates of Members and approved persons. In all of the permitted transactions, the facts must conform to the presumption that the transaction is a straightforward commercial transaction. Any artificial structuring of a trade to bring it technically under an exemption and circumvent the basic requirement that trades be on VCT will not be acceptable to the Exchange. Please direct any enquiries concerning off VCT trades, Rule C.1.08 and these guidelines to the Trading Services department. Off VCT Trades Transactions described herein are the only trades in a listed security in which a Member or approved person may be involved (either as principal or agent) that are not required to be made on VCT during a trading session. 1. Off VCT transactions for which no prior approval of the Exchange is required: a. Error Adjustments Transactions in a Member's error account in order to adjust an error in connection with a trade for a client may be effected off VCT. b. On Another Exchange or Foreign Over-the-Counter Market 1) A Member may trade as principal or agent on another exchange in Canada or elsewhere, provided that the security is fully listed on such exchange, and the price on the other exchange is equal to or better than the price on the VSE. 2) A Member may trade a Canadian client order on a foreign over-the-counter market provided the price on the over-the-counter market is better than the price on the VSE. c. Outside of Canada Trades and Subsequent Offsets In order to arbitrage between foreign over-the-counter markets and the Exchange or to serve foreign broker-dealers and investors in trades in listed securities, a Member may deal off VCT under the conditions and procedures outlined below. 1) Foreign Net Trades A Member may execute a foreign trade off VCT and confirm a fill to an outside of Canada client on a net basis, inclusive of commission, and/or foreign exchange conversions, provided that the offset trade is put-through on VCT on the same day. 2) Market-making Outside of Canada A Member may make markets on a net basis to outside of Canada clients or respond to bids or offers made by such clients, provided that resultant trades are either put-through on the Exchange the same day or are exempt as provided below. Exemptions a) an outside of Canada transaction in a security which trades on NASDAQ and the transaction is made with a NASDAQ market-maker that reports the trade in accordance with NASDAQ requirements or; b) an outside of Canada transaction which is made in a foreign branch of the Member where the branch is registered with, and regulated by, the competent foreign authority and the personnel of that branch exercise control over the market-making and inventory management for the otherwise reportable trades. NOTE: To qualify for "Outside of Canada" treatment, the client must be a broker/dealer which does not operate in Canada or be an investor (institutional or individual) that is not normally resident in Canada. Transactions for an account which is run from within Canada even though it has a foreign address for settlement are not entitled to be made under the outside of Canada exemption. Next Page Previous Page Next Search Prev Search Table of Contents Search ---------------------------------------------------------------------- LOLA here is more, you should be able to get satisfactory information now. "BULLY" © Vancouver Stock Exchange 1998 information@vse.ca

To: Lola who wrote (15159)	3/15/1999 4:36:00 PM
From: bully	Respond to of 22810

LOLA, off Topic but interesting....... Canadian Exchanges Consider Major Reshaping - Reports TORONTO (Reuters) - Executives at Canada's four biggest stock markets will meet later Monday to discuss a major restructuring that would see at least two exchanges merge and the Montreal Exchange drop stocks to trade derivatives exclusively, news reports said. The proposal also would cement the Toronto Stock Exchange's position as the leading national market for large capitalization stocks. The overhaul was drafted by the Montreal Exchange, which has seen its share of national equity trading volume fall to 9 percent last year from 21 percent in 1992, several newspapers and the Canadian Press reported. Exchange officials were not immediately available for comment. A series of high-profile stock market scandals, frauds and telemarketing scams in the last year and a half has tarnished Canada's international reputation as a place to invest. The 150-year-old Montreal Exchange, Canada's oldest, proposed handing over its stock trading activity to the country's three other major equities markets to become the nation's exclusive venue for derivatives such as stock and bond futures and options. Calgary's Alberta Stock Exchange, which holds the dubious honor of listing Bre-X Minerals Ltd., perpetrator of the biggest gold fraud of the century due after employees salted ore samples in Indonesia, would merge with the Vancouver Stock Exchange. The VSE has also had a checkered past. The merged market, which could be renamed the Canadian Venture Exchange, would list all of Canada's small capitalization stocks, many of which trade on Vancouver's 92-year-old exchange, the reports said. Trading volume in Vancouver and Calgary declined 26 and 24 percent respectively last year while volume was up 4 percent in Toronto compared to the year before. Under the proposal, all large capitalization stocks would be listed on the Toronto Stock Exchange. While the Montreal Exchange currently handles 90 percent of trading in Government of Canada bond futures and three-month Canadian banker's acceptance futures the Toronto Stock Exchange accounts for more than two-thirds of Canada's options trading. 2/8 Canada Wins Women's Hockey Championship Social Services Feelings Mixed On New Young Offender Act Kosovo Peace Talks Replay Amid Fighting Radical British Muslim Arrested In Raid NHL Wrap-Up: Predators Beat Slumping Oilers NBA Wrap-Up: Kidd's Triple-Double Leads Suns Stocks Inch Ahead At Open, Dow Moves Up Canada Bonds Start Slow But Post Gains