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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Jim B who wrote (7236)	6/4/1999 3:08:00 PM
From: lightfoot	Respond to of 108040

Some informative links on the Free-riding stock rules. Bascially what I have found out the hard way is that NDB has placed me on a 90 day restriction due to their handling of this rule. DATEK does not handle things the same way and thus looks to have the inside track with getting my business. Still checking with MyTrade to see how they are interpreting this rule. As I understand it there are two rules one is SEC and the other is NYSE. In order to avoid problems in violating this rule you need to have a margin account with a broker that operates under NYSE rules and settles immediately. It is up to the broker to decide settlement, and he can actually delay this for up to three days. I wish I had done more research on this issue prior to experiencing it first hand. cis.ohio-state.edu cis.ohio-state.edu invest-faq.com I hope this helps others avoid the conflict with this rule and subsequent suspensions