July 17, 2008
When i have purchased US stocks and I want to contra the transaction I was not allowed to and had to settle in full. Yat I hear that naked shorts are allowed and are not illegal. There seems to be different rules for everybody.
I recommend that all stock sales must be settled by delivery within the settlement period officially set by the stock exahange. What is it now, one week? If there is no rule then one should br installed.
regards