Replies to post #6 on Market Makers

[ypsiCPA]

Matt (or anyone) -

A question came up on RB about the effectiveness of way above market limit sell orders to prevent your shares from being used for shorting purposes.

I know some have faith in this, others believe it to be an old wives' tale.

Do you have any actual knowledge?

Thanks,
Steve

[BBseller]

not true anymore as you probably know. There was a rule that came into effect april 1st 2004 "NASD is delaying the effective date of amendments to Rule 3370 (Prompt Receipt and Delivery of Securities—the "Affirmative Determination" Rule) approved by the SEC in November 2003, until April 1, 2004. The amendments expand the ...


http://www.finra.org/Industry/Regulation/Notices/2004/p003291