Replies to post #42133 on Exxe Group Inc (AXXA)

[buypumps]

Please try to keep up here.Start with post 24010 from 04-27-2018.And then read tonights and you will see the picture more clearly.

[beer$$money]

AXXA This what we are going by to determine days to cover?


Rule 203(b)(3) imposes an obligation on clearing firms immediately to close out any fail-to-deliver positions in a threshold security that last for thirteen consecutive settlement days by purchasing securities of like kind and quantity. Pursuant to Rule 203(b)(3)(vi), however,
a clearing firm is permitted reasonably to allocate a fail-to-deliver position to a broker or dealer for which it clears trades or for which it is responsible for settlement, based on such broker or dealer’s
short position. Once the clearing firm has allocated the fail-to-deliver position to another broker or dealer, the obligation to comply with the mandatory close out requirement shifts to that broker or
dealer.

Once the fail-to-deliver position is allocated to the broker or dealer, that broker or dealer, in order to satisfy the close out requirement of Rule 203(b)(3) of Reg. SHO, must purchase
securities of like kind and quantity. Borrowing securities, or otherwise entering into an arrangement that merely creates the appearance of a purchase, does not satisfy the close out requirement under Rule 203 of Reg. SHO.