LocateStock.com, The Short Sellers Condom

Share Article

Don't get caught naked, use LocateStock.com].

The SEC announcement is a tremendous development, and a huge step in the direction of responsible Short Sale Governance.

Today, the Chairman of the Securities and Exchange Commission, Christopher Cox, told the Senate Banking Committee that the agency will invoke emergency action requiring short-sellers to pre-borrow shares of Fannie Mae and Freddie Mac prior to executing a short sale. Such a move will protect the mortgage giants from huge sell-offs in their stocks.

LocateStock.com is the only third party software provider of real-time, pre-borrow locates available to the U.S. Capital Markets.

The securities identified in the Commission's order:

Company                                     Ticker Symbol(s)
BNP Paribas Securities Corp.        BNPQF or BNPQY
Bank of America Corporation         BAC
Barclays PLC                                 BCS
Citigroup Inc                                  C
Credit Suisse Group                     CS
Daiwa Securities Group Inc         DSECY
Deutsche Bank Group AG             DB
Allianz SE                                    AZ
Goldman, Sachs Group Inc         GS
Royal Bank ADS                             RBS
HSBC Holdings PLC ADS             HBC and HSI
J. P. Morgan Chase & Co.            JPM
Lehman Brothers Holdings Inc     LEH
Merrill Lynch & Co., Inc             MER
Mizuho Financial Group, Inc        MFG
Morgan Stanley                             MS
UBS AG                                         UBS
Freddie Mac                                 FRE
Fannie Mae                                    FNM

In the Spring of 2006, Trader Magazine quoted the founder and Chief Executive of LocateStock.com, John Tabacco, explaining that because LocateStock.com partners actually borrow the securities, or have proprietary inventory, the locate is as firm as can be. Mr. Tabacco also noted two years ago that regulation is moving in the direction of demanding a pre-borrow.

Today, Mr. Tabacco's words are even more relevant. "The SEC announcement is a tremendous development, and a huge step in the direction of responsible Short Sale Governance."

Mr. Tabacco added that the new direction by the SEC punctuates the LocateStock model, which has been engaged in pre borrowing shares since 2005. "Never before has our corporate slogan been more apropos."

Mr. Tabacco reminds short sellers not to get caught naked and to use LocateStock.com.

About LocateStock.com

LocateStock.com is the premier electronic securities lending company providing revolutionary, real-time, hard-to-borrow stock locates and market data to hedge funds and professional traders seeking an efficient and private way to borrow stock associated with short sales.

To learn more about hard-to-borrow stocks please visit http://www.LocateStock.com.

CONTACT:    pressrelease @ locatestock.com / 201-332-6800
SOURCE:     Locate Stock, LLC

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Locate Stock
Visit website