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jdaasoc

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Re: ajtj99 post# 127266

Wednesday, 09/17/2008 11:02:01 AM

Wednesday, September 17, 2008 11:02:01 AM

Post# of 148479
No more naked short calls either.

Exception for Options Market Makers from Short Selling Close-Out Provisions in Reg SHO Repealed
The Commission approved a final rule to eliminate the options market maker exception from the close-out requirement of Rule 203(b)(3) in Regulation SHO. This rule change also becomes effective at 12:01 a.m. ET on Thursday, Sept. 18, 2008.

As a result, options market makers will be treated in the same way as all other market participants, and required to abide by the hard T+3 closeout requirements that effectively ban naked short selling.


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