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jurisper are you a telynx shareholder?
Telynx, Inc. Retains XXR Consulting for Investor Relations; XXR Will Take All Shareholder Inquiries, Phone Calls and E-Mails
SHERMAN OAKS, Calif.
XXR Consulting
Curt Kramer, 866-498-9890
curtkramer@yahoo.com
xxrconsulting@yahoo.com
www.telynx.net
Telynx, Inc.(PINK SHEETS: TLYN), which provides software and professional services for Operations Support Systems (OSS) of the Telecommunications industry and for general enterprise networks, is pleased to announce that it has retained XXR Consulting, Inc. to join its financial communications and investor relations campaign. A New York based agency, XXR Consulting provides a variety of custom services for public companies seeking results-oriented investor relations programs. The selection of the investor relations firm follows several weeks of negotiations between the two companies.
Paul Mataras, Pres. & CEO of the Company, said, "We believe it is in the best interests of the Company and its shareholders to communicate both the growth strategies and the focused direction Telynx, Inc. is working diligently toward every day. XXR Consulting will provide Telynx, Inc. with a gifted support team and an investor relations program which we expect will achieve these communication goals and will bring quality and consistency to our company's investor relations."
"Having met with Telynx, Inc. the XXR Consulting team is excited to represent this client," said Curt Kramer of XXR Consulting. "As a result of those meetings, we are prepared to help the Company communicate its story to the investment community and thus help Telynx, Inc. achieve greater shareholder value."
About Telynx, Inc.
Telynx, Inc. (PINK SHEETS: TLYN) provides software and professional services for Operations Support Systems (OSS) of the Telecommunications industry and for general enterprise networks.
need L2 on TLYN please
new trading symbol TLYN per company website
SUB can you post the tlxx l2 listing all the mms and their bid/asks..thanks
any explanation for such small print trades? 1500 15:01:12
↓ 862 14:57:50
can someone post a L2 for TLXX listing all mms bid/ask thanks
sub... can you post l2 for tlxx listing the mm line-ups
can someone post a L2 for tlxx listing the mm bid/ask quotes
SUB..tlxx l2 please
sub..any changes today?
ot:bonnie..read how widespread this berlin listing has become..this is not a isolated case of 1 or 2 companies, question is who paid to get all of these companies listed and what was their motive to list so many companies? not to mention
that these companies were never notified of the listing or consented to it!!
>>>> http://news.google.com/news?hl=en&edition=us&ie=ascii&q=naked+short+selling
bonnie "Separately, the SEC voted to propose a measure that would discourage companies from issuing securities that can't be easily transferred among market intermediaries. Some companies have started doing this to thwart "naked" short-sellers.
Short sellers borrow shares of stock, sell them, wait for the price to fall and then buy them back more cheaply at a profit. Naked shorts practice this risky strategy without first establishing clear control over the shares they're shorting.
The SEC is working on a new rule, known as Regulation SHO, to address naked shorting and other short-selling issues.
In adopting the rule to discourage non-transferable share issuance, the SEC said such shares work against its long-held goal of making the national clearance and settlement system more efficient. Officials said the naked short-selling problem will be better addressed within the Regulation SHO context. "
SEC: Mutual Funds Must Disclose More
Wed May 26, 2004 12:49 PM ET
Printer Friendly / Email Article / Reprints / RSS
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By Kevin Drawbaugh WASHINGTON (Reuters) - Mutual funds must begin disclosing more in their prospectuses about sales fee discounts that some large investors have been unfairly denied, the U.S. Securities and Exchange Commission ordered on Wednesday.
In a 4-0 vote, the SEC said funds will have to give out more and clearer information about so-called "breakpoint" discounts -- the focus of a recent legal settlement.
Fifteen brokerage firms were disciplined in February by regulators and agreed to pay $21.5 million in combined fines for failing to grant breakpoint discounts during 2001 and 2002 to investors who should have gotten them.
The new disclosures mandated by the SEC "will help to ensure that investors understand the breakpoints that are due to them," said SEC Chairman William Donaldson at a meeting.
Breakpoint discounts are awarded to buyers of large blocks of front-end-load fund shares on a graduated basis, depending on the size of the purchase. Mutual funds will have to start providing the additional disclosures by Sept. 1.
The commission also voted 4-0 to adopt a rule requiring mutual fund investment advisory firms to have codes of ethics for their advisers. The rule is one of many being considered amid a wave of abuses in the $7.6 trillion fund industry.
Improper and illegal trading in fund shares, sometimes involving officers of the advisory firms managing the funds, has been revealed as a widespread problem in the industry.
Donaldson called it "extremely troubling" that much of the misconduct brought to light involved basic ethical failures.
"Advisers owe their clients more than mere honesty and good faith. Recent experience suggests that all too many advisers were delivering much less," Donaldson said.
Separately, the SEC voted to propose a measure that would discourage companies from issuing securities that can't be easily transferred among market intermediaries. Some companies have started doing this to thwart "naked" short-sellers.
Short sellers borrow shares of stock, sell them, wait for the price to fall and then buy them back more cheaply at a profit. Naked shorts practice this risky strategy without first establishing clear control over the shares they're shorting.
The SEC is working on a new rule, known as Regulation SHO, to address naked shorting and other short-selling issues.
In adopting the rule to discourage non-transferable share issuance, the SEC said such shares work against its long-held goal of making the national clearance and settlement system more efficient. Officials said the naked short-selling problem will be better addressed within the Regulation SHO context.
http://www.reuters.com/newsArticle.jhtml?type=businessNews&storyID=5264636
SUB..can you post the closing l2 for tlxx thanks
SUB..can you post the l2 for tlxx? the entire list of mm bid asks thanks
sub..can you post the l2 list for tlxx?
sub can you post the l2 line-up for tlxx listing all mm positions?
sub i need a l2 for tlxx thanks! can you list the entire l2 list showing all of the mm bid asks for telynx?
sub..what do you make of these small print trades? ive seen trades for 1000 and under at these current prices, what do these indicate?
sub can you post a l2 for tlxx
sub is there a l2 close for tlxx? can you post the entire mm list?
subb need a l2 on tlxx
SUB can you post a L2 on tlxx
SUB..need a update on tlxx l2 thanks
SUB tlxx L2 thanks
updated 4/27...http://www.geo-tec.net/ceo-letter.html
SUB thanks..but if you could post it pre-market
SUB can you give me the closing L2 mm line-up for TLXX
also was wondering what you thought of these small print trades and what they mean? are these mm signals?
re:TLXX can someone post a L2 close listing the mms?
thanks
does anyone know what small prints signify my mms? ie: 150 250 500 1250?
can someone explain what a 1250 share trade by a mm means? for a stock trading at .003 why is this done?
tlxx L2 mm list please
re:TLXX can someone post the L2 mm line-up listing the mms and their current ask bids thanks!!
due in your previous post you state "As such, the Telynx corporation is now apparently an empty shell, with no business, assets or liabilities."
WHEN IN FACT THE FILING STATES.."
"The assets of Telynx consist of, including, but not limited to, the intellectual property, the vendor list, and the company accounts receivable."
ARE THESE NOT ASSETS? YOU SAY ITS JUST A EMPTY SHELL WITH NO ASSETS, HOW DO YOU COME TO THAT CONCLUSION? REMEMBER YOU SAY YOU ARE NO ATTORNEY!!!
Posted by: DueDillinger
In reply to: DueDillinger who wrote msg# 257 Date:4/15/2004 3:10:19 AM
Post #of 260
As I understand the Sale of Business agreement
(see previous post and also available at the SEC website
http://www.sec.gov/Archives/edgar/data/852164/000121465904000260/ex99a.txt )
Mataras and Safadi have purchased the assets and assumed the liabilities of Telynx Inc. PERSONALLY. As such, the Telynx corporation is now apparently an empty shell, with no business, assets or liabilities.
Mataras and Safadi now own 89% of the TLXX shares and control the company, but it's not at all clear how the remaining holders of common shares own anything but a shell.
Is this just sloppy legal work? I'm not an attorney, but this looks like amateur hour to me.
"The assets of Telynx consist of, including, but not limited to, the intellectual property, the vendor list, and the company accounts receivable."
Item 2. Acquisition or Disposition of Assets.
(a) The cash consideration for the sale is $10.00. However, Mataras and Safadi have agreed to take on 4.8 million dollars in liabilities and debt for the controlling shares of Al-Dawhi and Munden. There is no material relationship between the registrant Mataras/Safadi and Al- Dawhi/Munden/Telynx or any of its affiliates, or directors/officers.
The assets of Telynx consist of, including, but not limited to, the intellectual property, the vendor list, and the company accounts receivable.
(b) Telynx, Inc. is a Delaware Corporation whose current principal place of business has changed from El Paso, Texas to Sherman Oaks, California. Telynx was dormant for approximately one year with little activity. It is the intention of Mataras and Safadi to build up the company by settling the liabilities and debts of Telynx, which include the Internal Revenue Service and the Department of Labor, and hiring software engineers to create an updated version of the signature software (see EXHIBIT B).
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3D%5C2004%5C04%5C12%5CEDGARNew...
NOT JUST A EMPTY SHELL AS DUE CLAIMS!!!
CNCG NEWS...Concierge Technologies to Acquire Planet Halo
TUESDAY , APRIL 06, 2004 08:00 AM
LOS ANGELES, Apr 6, 2004 (BUSINESS WIRE) -- Concierge Technologies, Inc. (OTCBB:CNCG) today announced that a definitive Stock Purchase Agreement has been signed that, when consummated, will result in the acquisition of Planet Halo. Planet Halo, based in Ventura, CA., is a privately owned development stage company involved in the wireless telecommunications industry through the design, manufacture, sale and distribution of hardware and services that include a hand-held wireless Internet appliance/cell phone known as the "Halo," a wireless gateway interface to the Internet, and installation and sale of wireless broadband Internet access over Wi-Fi 802.11(x) protocols. The companies have been involved in discussions over the past 18 months but have been unable to resolve valuation issues until now.
Allen Kahn, Chairman of Concierge Technologies, commented, "We have been searching for the right partner who would bring shareholder value through an acquisition strategy and I'm pleased to say we have found one such company. Planet Halo is right on target with their niche market approach to Wi-Fi, the newly designed 'Halo' voice/data device for GPRS systems, and their wireless gateway. We are staying with our strategy of providing personal communication services, including unified messaging, and Planet Halo will provide the needed boost to immediately enter that marketplace."
Marc Angell, CEO of Planet Halo, added, "Planet Halo has spent the last 3 years in development stage operations researching the market and designing our approach. With the Halo device now readied in prototype phase, the gateway in operation, and our Wi-Fi strategy ready to implement, we are poised to begin commercial operations. Concierge will provide us the visibility and the added management expertise to make this transition a success. We are excited to become part of this dynamic new team."
The proposed transaction will result in Concierge Technologies acquiring 100% of the outstanding shares of Planet Halo in a cash-free, pro-rata share-for-share, exchange of stock. The current shareholders of Concierge Technologies will retain majority control over the combined entity and Planet Halo will continue operations as a wholly owned subsidiary of Concierge Technologies with Marc Angell remaining as its President and Chief Operating Officer. The proposed transaction is subject to the approval of the respective Boards of Directors, and the production of certain exhibits to the Stock Purchase Agreement by Planet Halo. This agreement supersedes all other agreements earlier announced or contemplated by Concierge and Planet Halo. The companies anticipate the transaction closing within the next 30 days.
The statements contained in this press release that are not historical facts are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of our future performance, acquisitions or dispositions of interests, debt obligations, additional financing requirements, the effect of economic conditions generally and in the communications and information technology markets specifically, and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These and other factors may cause actual results to differ materially from those projected.
SOURCE: Concierge Technologies, Inc.
CONTACT: Concierge Technologies, Inc.
David Neibert, 818-610-0310
dneibert@wallengroup.com
www.pcahome.com
or
Planet Halo
Marc Angell, 805-658-0057
marc@planethalo.com
www.planethalo.com
Customize your Business Wire news & multimedia to match your needs.
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Copyright (C) 2004 Business Wire. All rights reserved
CNCG
News for 'GETC' - (Geotec Thermal Generators/TelcoEnergy Announces an
Agreement to Purchase Sino-American Energy Inc. Geotec/TelcoEnergy
investing in China, the world's fastest growing energy market)
BOCA RATON, Fla., Mar 30, 2004 (BUSINESS WIRE) -- Geotec Thermal
Generators
Inc./TelcoEnergy Corporation (OTCBB: GETC) announces the signing of a
purchase
agreement to acquire 100% of Sino-American Energy Inc. (SAEI), a Delaware
Corporation. SAEI is the operating partner in a joint venture with the Jin
Cheng
Coal Bureau to develop clean burning, high BTU Coal Bed Methane Gas (CBM)
from
the local partner's coal reserves, in the Shanxi Province of China. Jin
Cheng is
the second largest coal company in all of China.
The Jin Cheng joint venture is currently completing 30 wells as part of a
300
well developmental program. Engineering analysis, based upon an early test
well
program, indicated recoverable reserves of approximately 1 Trillion cu.
ft. of
gas. As the operator of the project, TelcoEnergy will be able to utilize
the
proprietary Geotec recovery technology to further enhance the extraction
of the
gas from the project.
"When we combine Geotec's advanced fracturing technology with the massive
proven
reserves of methane gas that SAEI possesses, we are accelerating our
business
strategy. We are working diligently to bring new sources of fuel to the
Chinese,
and to the global gas supply forefront," commented W. Richard Lueck,
Geotec/TelcoEnergy's CEO. Lueck also stated, "Especially important is the
fact
that our clean burning methane gas can help fuel China's second largest
power
plant, that currently uses coal, to become more environmentally friendly
by
reducing the polluting particulates."
Geotec/TelcoEnergy is committed to developing high yield, and clean
burning
energy resources. The company previously announced the development of
Mach3
Superforce, an airborne fuel catalyst that enhances the burning efficiency
of
LNG and CNG and other fuels. With the SAEI acquisition, the company plans
to
introduce both Mach3 and Geotec technologies to China for unique projects.
Our
objective is to build a solid business foundation, by combining our
fundamental
energy development business with processes and technologies that enable
higher
production yields, and in delivering to the market cleaner burning and
less
polluting fuels.
SAEI will become a wholly owned unit of Geotec/TelcoEnergy. It will
operate in
concert with the Jin Cheng Coal Bureau, in the Shanxi Province of China,
under
authority granted through China's Coal Bed Methane Cooperation and
Development
Agreement.
Lueck further stated, "In the 1990's, the Chinese government had the
vision and
foresight to set up Coal Bed Methane initiatives. We are very honored to
be
operating SAEI in China, and to work in collaboration with our China-based
partners to increase the China's supply of economically viable and
environmentally-friendly methane gas. In addition, this project is
particularly
well positioned, given its proximity to a large base of commercial and
residential customers."
About Geotec: Geotec Thermal Generators, Inc. has exclusive rights, to the
Russian Federation technology for oil and gas recovery developed by the
Military
Research and Production Facility, FR & PC ALTAI for the Ministry of
Geology, for
use in North, South and Central America, and for specific worldwide
projects
where required. This unique scientific technology concluded development in
1986,
comprising 6500 wells with 14 years of research and development. Over
30,000
wells have been treated with a 70% success rate for oil wells, and a 90+%
success rate for gas wells. The technology produces incremental oil yields
averaging over 6000 barrels of oil per well, per year. Wells, in certain
rock
formations, have exceeded 45,000 barrels of oil per well, per year. Other
than
the Company, only 13 governments have been permitted this technology.
About TelcoEnergy: TelcoEnergy Corporation has a 50% ownership in MACH 3
Enterprises, LLC, a Nevada Corporation. TelcoEnergy Corporation has U.S.
and
developing operations in Russia (including 700 million barrels of
reserves,
licensed for exploration), China and South America. TelcoEnergy operating,
"From
the Wellhead to the Gas Pump". The details of the complete operations will
be
incorporated into SEC filings and new information included in future
Geotec
Press Releases.
Geotec Thermal Generators, Inc./TelcoEnergy Corporation (OTC BB: GETC) is
an
operating oil/gas/energy company. Statements in this release, which relate
to
other than strictly historical facts, including statement about the
Company's
plans and strategies, as well as management's expectations about new and
existing products and services, technologies and opportunities, market
growth,
demand for new and existing products and services, are forward-looking
statements. The words "believe", "expect", "anticipate", "estimate",
"project",
"intend" and similar expression identify forward-looking statements that
can
speak only as of the date hereof. This press release contains certain
forward-looking statements regarding Geotec Thermal Generators, Inc.,
TelcoEnergy Corporation, its business prospects and results of operations
that
are subject to certain risks and uncertainties posed by many factors and
events
that could cause Geotec/TelcoEnergy's actual business, prospects and
results of
operations to differ materially from those that may be anticipated by such
forward-looking statements. Readers are urged to carefully review and
consider
the various disclosures made by Geotec/TelcoEnergy in this new release and
other
reports filed with the Securities and Exchange Commission that attempt to
advise
interested parties of the risks and factors that may affect
Geotec/TelcoEnergy's
business.
SOURCE: Geotec Thermal Generators, Inc./TelcoEnergy Corporation
CONTACT: Mirador Consulting, Inc.
Frank Benedetto, 877-Mirador
E-mail fb@MiradorConsulting.com
or
Geotec Thermal Generators, Inc./TelcoEnergy Corporation
W. Richard Lueck, 561-447-7370
E-mail rlueck@mindspring.com
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Copyright (C) 2004 Business Wire. All rights reserved.
-0-
KEYWORD: FLORIDA RUSSIA CHINA INTERNATIONAL ASIA PACIFIC EUROPE
INDUSTRY KEYWORD: UTILITIES
OIL/GAS
ENERGY
MERGERS/ACQ
Source: Comtext Market News
News for 'GETC' - (Geotec Thermal Generators, Inc./ TelcoEnergy Announces
the Execution of a Preliminary Funding for $5 Million)
BOCA RATON, Fla., Mar 19, 2004 (BUSINESS WIRE) -- Geotec Thermal
Generators
Inc./TelcoEnergy Corporation (OTCBB:GETC) announces the execution of a
preliminary funding agreement with Cross Capital Ventures, LLC, of New
York for
up to $5 Million of Swiss based funding. Cross Capital and
Geotec/TelcoEnergy
have irrevocably agreed to execute an agreement for Convertible Preferred
stock;
which will not be converted for five years, with voting rights; and an
annual
percentage to be determined, not exceeding 8%.
Geotec/TelcoEnergy is currently implementing strategic financial plans
that will
enhance shareholder value, some of which are specifically for large
projects,
and will be disclosed in future press releases.
Separately, Geotec management has committed to control and lock their
stock such
that any shorting of the Company's security will not be facilitated.
About Geotec
Geotec Thermal Generators, Inc. has exclusive rights, to the Russian
Federation
technology for oil and gas recovery developed by the Military Research and
Production Facility, FR & PC ALTAI for the Ministry of Geology, for use in
North, South and Central America. This unique scientific technology
concluded
development in 1986, comprising 6500 wells with 14 years of research and
development. Over 30,000 wells have been treated with a 70% success rate
for oil
wells, and a 90+% success rate for gas wells. The technology produces
incremental oil yields averaging over 6000 barrels of oil per well, per
year.
Wells, in certain rock formations, have exceeded 45,000 barrels of oil per
well,
per year. Other than the Company, only 13 governments have been permitted
this
technology, including China and India.
About TelcoEnergy
TelcoEnergy Corporation has a 50% ownership in MACH 3 Enterprises, LLC, a
Nevada
Corporation. TelcoEnergy Corporation has U.S. and developing operations in
Russia, China and South America. TelcoEnergy, operating, "From the
Wellhead to
the Gas Pump". The details of the complete operations will be incorporated
into
SEC filings and new information included in future Geotec Press Releases.
Geotec Thermal Generators, Inc./TelcoEnergy Corporation (OTCBB:GETC) is an
operating oil/gas/energy company. Statements in this release, which relate
to
other than strictly historical facts, including statement about the
Company's
plans and strategies, as well as management's expectations about new and
existing products and services, technologies and opportunities, market
growth,
demand for new and existing products and services, are forward-looking
statements. The words "believe", "expect", "anticipate", "estimate",
"project",
"intend" and similar expression identify forward-looking statements that
can
speak only as of the date hereof. This press release contains certain
forward-looking statements regarding Geotec Thermal Generators, Inc.,
TelcoEnergy Corporation, its business prospects and results of operations
that
are subject to certain risks and uncertainties posed by many factors and
events
that could cause Geotec/TelcoEnergy's actual business, prospects and
results of
operations to differ materially from those that may be anticipated by such
forward-looking statements. Readers are urged to carefully review and
consider
the various disclosures made by Geotec/TelcoEnergy in this new release and
other
reports filed with the Securities and Exchange Commission that attempt to
advise
interested parties of the risks and factors that may affect
Geotec/TelcoEnergy's
business.
SOURCE: Geotec Thermal Generators, Inc.
CONTACT: Geotec Thermal Generators, Inc./TelcoEnergy Corporation,
Boca Raton
W. Richard Lueck, 561/447-7370
rlueck@mindspring.com
or
Mirador Consulting, Inc.
Frank Benedetto, 877-Mirador
fb@MiradorConsulting.com
Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.
Copyright (C) 2004 Business Wire. All rights reserved.
-0-
KEYWORD: FLORIDA
INDUSTRY KEYWORD: BANKING
ENVIRONMENT
UTILITIES
OIL/GAS
ENERGY
Source: Comtext Market News
NASD Asks SEC To OK Tougher Short Sale Rules
By Carol S. Remond
A Dow Jones Newswires Column
NEW YORK (Dow Jones)--The NASD is taking steps to further tighten short
selling rules for its members.
NASD has asked the Securities and Exchange Commission to approve a new
rule
that would require clearing firms to make delivery, or take affirmative
steps to
make delivery, within 10 business days after settlement date for all short
sale
transactions with no exemption.
Under current NASD rules, bona fide market making activities and
arbitraged
positions are exempt from the 10-days delivery requirement. Under the new
rule
proposed by NASD, market making activities and arbitraged positions will no
longer be exempt.
NASD said the new delivery rule is needed to address abusive short selling
activities, including naked short selling or short selling without first
borrowing securities to make delivery.
A short seller typically borrows stock from a broker to sell it into the
market, betting that the share price will fall so that he can buy the stock
back
at a lower price and pocket the difference.
NASD said that naked short selling "can result in long-term failures to
deliver, including aggregate failures to deliver that exceed the total float
of
a security." NASD said it believes that such "extended failure to deliver
can
have a negative effect on the market."
"Existing NASD rules are designed to address the settlement of short sales
transactions, but NASD has concluded that these rules need to be revised and
updated to address directly the current problems occuring in the
marketplace,"
NASD said.
The move by NASD to tighten delivery rules follows the approval by the SEC
late last year of a more aggressive NASD affirmative determination rule that
closed a loophole that allowed non-NASD members, mostly foreign brokerage
firms,
to short stocks without first borrowing shares.
NASD's affirmative determination rule stipulates that brokers and dealers
engaged in a short sale transaction must make sure that shares can be
delivered
by settlement time, three days later. Market makers engaged in bona fide
market-making activities will continue to be exempt from affirmative
determination under NASD's tougher rule which is scheduled to take effect on
April 1.
To address concerns that the non-exemption of market making activites
could
lead to a lack of liquidity, NASD said that clearing firms will be able to
request two five-days extensions if they fail to deliver stock within
10-days.
"If delivery is not made within the requisite time period, the following
trading restriction will apply until delivery is effected: the account which
has
failed to deliver against its sale, or any other accounts held at the
clearing
firm by the legal or beneficial owner of such account, would be restricted
from
selling short the same security to which the failure to deliver pertains,"
according to the new NASD delivery rule.
NASD said that the proposed rule change will reduce the amount of extended
failures to deliver in securities and will enhance the integrity of the
market
and the clearance and settlement system. This is the first time that NASD
acknowledges problems and mounting failures to deliver stock necessary to
settle
transactions.
Although separate from it, the amended NASD affirmative determination rule
and
its new delivery rule fit tightly within new short selling regulations,
known
as Regulation SHO, being put forward by the SEC. Regulation SHO is currently
under review by the SEC staff after a period during which market
participants
were invited to comment on it.
As it stands, SHO will make it easier to short large-cap stocks since they
would do away with the "uptick" rule, which bans short selling on a stock
when
the price is falling. But it when it comes to the small-cap markets, where
it's
often impossible to borrow stock, the impact of SHO will be the opposite,
making
it harder to short sell stock.
Under SHO, a broker or an investor that fails to deliver within two days
after
the settlement date will effectively be unable to short sell that stock for
90
days. The new SEC rule sets a predetermined level of so-called clearing
fails,
cases in which a broker or investor cannot deliver stock within two days
after
settlement, which will trigger the 90-day blackout during which that
customer
will not be allowed to short sell that security. That 90-day exemption would
also affect trading of U.S. securities outside the U.S.
NASD said it will announce the effective date for its new delivery rule to
members "no later than 60 days following (SEC) approval. The effective date
will
be 90 days following publication of the Notice to Members announcing (SEC)
approval."
(Carol S. Remond is one of four "In The Money" columnists who take a
sophisticated look at the value of companies and their securities and
explore
unique trading strategies.)
-By Carol S. Remond; Dow Jones Newswires; 201 938 2074;
carol.remond@dowjones.com
(END) Dow Jones Newswires
18-03-04 2128GMT