Replies to post #113719 on Bancorp International Group Inc (fka BCIT)

[glaszman]

we'll have to await and see how the MM's will deal with it...

the rule just went into effect last Fri AM... and they also went after options MM's too..


The Commission approved a final rule to eliminate the options market maker exception from the close-out requirement of Rule 203(b)(3) in Regulation SHO. This rule change also becomes effective at 12:01 a.m. ET on Thursday, Sept. 18, 2008.

As a result, options market makers will be treated in the same way as all other market participants, and required to abide by the hard T+3 closeout requirements that effectively ban naked short selling.

http://www.sec.gov/news/press/2008/2008-204.htm