Dear Valued Trader,
Due to an amendment in SEC Rule 201, U.S. exchanges are implementing procedures preventing the execution or display of a short sale order of a covered security at a price that is less than or equal to the current national best bid when that security's price falls by 10% or more from the previous day's closing price. When the short sale circuit breaker is triggered, SEC Rule 201 would apply to short sale orders in that security for the remainder of the day as well as the following day.
This amendment to SEC Rule 201 will go into effect on February 28, 2011. If you have any questions regarding this rule, please call Mastertrader at 1-800-424-3934.
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