Commentary

Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

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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.