Posted by: allchipin Date: Monday, September 22, 2008 8:49:31 PM
In reply to: None Post # of 3894
Important Notice: Due to the emergency order issued by the Securities Exchange Commission, short selling on certain financial securities is not permitted from September 19, 2008 through October 2, 2008. Short positions established in these securities on September 19, 2008 must be closed and any existing open orders to sell short these securities will need to be cancelled.
New Information for Options Customers: Due to the above new temporary SEC rule in short sales, opening new positions on "uncovered calls" and exercising "long puts" on certain financial securities are not permitted. This temporary measure, currently in effect through October 2, 2008, is a result of the above new rules since an assignment of an uncovered call and exercise of a long put would result in a short sale position. Please use caution not to open the above mentioned uncovered positions.
In observation of this emergency order Zecco Trading reserves the right to close-out any uncovered options position at any time at its discretion. Any financial result of this transaction will be the full responsibility of the customer. Again, please note that the above circumstances are a direct result of the recently imposed SEC regulation on short sales.
Zecco Trading
