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Alias Born 07/19/2003

Re: Jim Bishop post# 69265

Tuesday, 08/03/2004 11:23:53 AM

Tuesday, August 03, 2004 11:23:53 AM

Post# of 359151
Jim, I was told by the STGI trader (and confirmed by two other sources) that CMKX is a "non qualifying piggyback" issue, and that MMs cannot buy or short CMKX for a profit. MMs for CMKX can only facilitate trades for investors, and profit from the spread.

Therefore, naked shorting of CMKX is not allowed by MMs.


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