this is the interesting part.. will we see any flurry of activity.. I doubt it b/c its all fixed imo, and they probably covered these positions for the past 2 yrs, while the had the grandfathered clause.. you never know thou as some of these subbies have been shorted to the ground long before 2005, and are still trading..we shall see
The grandfather provision was adopted because the Commission was concerned about creating volatility where there were large pre-existing fail to deliver positions.
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