Wednesday, October 28, 2015 1:37:37 PM
It appears to me that there is nothing preventing two non-FINRA members from effecting a trade of a halted stock -- the trade halt only applies to FINRA members (not normal Joe Schmoe traders). I am short 15,000 shares of RIVT and if someone would be willing to send me the shares to close out my short position I would benefit by no longer having to pay $5.50 in short stock borrow fees each day and the long that sent me the shares would benefit by being able to take the loss for tax purposes. I would also offer a small amount of money (make me offers for what you would take). Any thoughts on whether this would work?
The shares would be transferred via FOP: http://ibkb.interactivebrokers.com/node/1002
See http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=4414
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