TITLE

SEC's Short-Sale Moves Are Driving Volatility, Says Thinkorswim Exec

AUTHOR(S)
HINTZE, JOHN
PUB. DATE
December 2008
SOURCE
Securities Industry News;12/1/2008, Vol. 20 Issue 41, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Interview
ABSTRACT
An interview with Tom Sosnoff, president of thinkorswim, an online brokerage and software developer, is presented. He offers his opinions on regulator intervention by the Securities and Exchange Commission (SEC) in short selling and its impact on the stock options industry. Sosnoff believes that short sellers are vital in index arbitrage and moderating the market. He also critiques certain SEC rules like the hard-close rule issued on July 15, 2008 which requires brokers to have borrowing arrangements before shorting stocks, as restrictive.
ACCESSION #
35638581

 

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