Cache Inc (CACH)

[VeronicaFox]

This is fairly simple, short volume is not "short". Any transaction between different brokers requires a broker dealer to complete the transaction. Broker A has shares to sell and Broker B has a Buyer. The broker dealer is not going to risk buying the shares from broker, so they first sell the open order to Broker B in the first leg of a multi-leg trade transaction. Then a nearly concurrent buy from Broker A occurs covering the initial leg.

Only the initial leg is reported in short volume, the settlement period is T+2 days and therefore the final disposition shows up in the Fails to Deliver report. There are no FTDs, so no abusive shorts here, No Naked shorts, No Phantom shares, No Fake shares, No Air shares, No Synthetic shorts, etc.