Short selling ban tests Wall Street systems
In most cases, significant regulatory market changes are ushered in over time, allowing Wall Street firms the necessary time to tweak their systems. But not the short selling ban, which doesn't expire until Oct. 2. It affects around 800 stocks. True, a trial run, so to speak, of top financial stocks ended weeks ago. That gave the industry some experience. But the current ban is really testing systems, notes Securities Industry News. The actual rules have been delivered in somewhat piecemeal fashion. That has forced the operations and IT teams into something of scramble to reprogram. Some say there has been little time to test the tweaks. Whether all this presages some major changes to Reg SHO is unclear.
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