Posted On: 03/01/2014 11:49:25 AM
Post# of 3844
Here's a more complete description of the activity. It seems as if it's a mute point anyway as most of the action is no longer occurring. It reads to me like it was a way for the settlement of short positions to be completed via lending of shares from willing participants to allow for a smooth settlement process. Doesn't look like it's being used that much anymore. Always nice to see the potential for abuse being mitigated by on-going changes to SEC rules.
http://www.sec.gov/rules/sro/nscc/2013/34-71156.pdf
http://www.sec.gov/rules/sro/nscc/2013/34-71156.pdf
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