Commentary

Jos Schmidt
Traders Magazine Online News

Reducing the Regulatory Burden on Public Companies, Yes Please But...

In this commentary, NEO's Jos Schmidt discusses regulatory requirements and needs in the Canadian equity markets.

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June 30, 2004

Lifting Short-Sale Restrictions

Short sale restrictions reform could eventually be in place - permanently.

The Securities and Exchange Commission, deliberating on reforming the rules of short selling, has agreed to implement a pilot project. This will waive short-sale curbs for 1,000 Russell 3000 stocks.

One pro thinks the exemption could easily become permanent. "We already have this exemption in part because Nasdaq market makers are exempt today," said Jamie Selway, managing director of New York-based Whitecap Trading. He noted that Archipelago had been operating without a bid test "and everything worked just fine." Selway is a former economist at Archipelago.