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ThSeeker

02/18/09 11:22 AM

#11349 RE: nukuhiva #11348

If they needed to cover don't you think it would have happened already? Hopefully this will be behind us in 1-2 days. PLEASE
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EBI

02/18/09 11:24 AM

#11350 RE: nukuhiva #11348

I believe the settlement period for securities is 3 days from the date of the transaction. If this does involve a Failure to Deliver, this will be a new experience for me. Pinkies don't fall under REG SHO but this is what I found. I'm not saying that this is/has happened, so take it as an educational tidbit. lol I believe Pinksheets.com has a "Threshold List"....somewhere.

"FINRA Rule 3210 defines threshold securities as any equity security of an issuer that is not an SEC reporting security and, for five consecutive settlement days, has:

aggregate fails to deliver at a registered clearing agency of 10,000 shares or more; and
a reported last sale during normal market hours (9:30 a.m. to 4 p.m., ET) for the security on that settlement day that would value the aggregate fail to deliver position at $50,000 or more."