Angel Acquistion (AGEL)

[Phisherman]

Posted by: KingVegita2006
In reply to: None Date:10/8/2007 8:58:07 AM
Post #of 14633

Reg SHO Change related to Sell Short Exempt Orders
______________________________________________________________________
Effective Friday October 5, 2007, as part of an industry wide change associated with recent amendments to Regulation SHO and SEC Rule 10a-1 communicated in Exchange Act Release No. 55970 (June 28, 2007), the Chicago Stock Exchange, Inc. will no longer accept Sell Short Exempt Orders. These orders will be rejected back to the order sending party.

Participants are reminded that previously marked sell short exempt orders should be handled as sell short orders as of the October 5, 2007 effective date.

Please contact the undersigned at [phone] or the CHX Help Desk at [phone] with any questions concerning this notice.

Marguerite Donovan
Vice President, Equity Surveillance
Source: http://tinyurl.com/3a9722
************************************************************


Grandfather Provision Eliminated
October 15th
Readers here is why October 15th is a historic date for all stocks. On this date a major countdown begins for failed to delivers. This will change the entire markets!
SEC Regulation SHO sets out rules governing short sales, including the mandatory close-out requirement that applies to securities in which a substantial amount of fails to deliver have occurred (“threshold securities”). Clearing agency participants and broker-dealers for which they clear positions (“participants”) must take immediate action to close out a fail to deliver position in a Threshold Security that has lasted for 13 consecutive settlement days by purchasing securities of like kind and quantity (“close-out requirement”).
The amendment eliminates one of the exceptions to the Close-out Requirement for fails to deliver established prior to a security becoming a Threshold Security (“grandfather provision”). The amendment requires Participants to close out any previously-grandfathered fails to deliver in a security that is on the Threshold Security List on October 15th. The close-out must occur within 35 consecutive settlement days of October 15th. If a security becomes a Threshold Security after October 15th, all fails to deliver must be closed out within 13 consecutive settlement days.
SEC Link: http://tinyurl.com/2ofmao
Regulation SHO Pilot Security List
"To assist firms with compliance, NASDAQ added all NASDAQ-listed securities to the Regulation SHO Pilot List and maintained the list on line. To further accommodate firms, NASDAQ, will continue to maintain the list for the Reg SHO price test change until October 4, 2007. In addition, effective October 5, 2007, broker-dealers will no longer be able to mark sales “short exempt”; instead all short sales must be marked “short”."
Regulation SHO Threshold Security List



--------------------------------------------------------------------------------
Any comment provided is my personal assessment of the indicated stock and should not form the sole basis of any buy or sell decision making by any reader.