If ex clearing sales are not the naked short it will be interesting to find out where it is. It was clearly referenced. I understand there are many motivating factors for wanting such kept hidden or otherwise denied, but...
It will be interesting to find out where it is. The "multiple levels" of egregious behaviors are fascinating to study from a historical regulatory scientist's perspective.
Again, saying nss doesn't exist is not an acceptable reply. In drug trade and law enforcement, typically the little guys downstream (Edwards, Jeffries, etc.) are let off the hook if they can find the major dealers doing the larger volumes.
Its simply going to be interesting to track this all down when the clearly stated NSS is identified.