NYSE CEO Duncan Niederauer And Short Sale Rule

NYSE CEO Duncan Niederauer has just held meetings with a number of financial company CEOs regarding the short sale rule. He has also spoken on the phone with the SEC.

The NYSE has said they are expecting a broader solution to the short-selling ban, but they are expecting an extension of the current ban on short-selling in financials, which expires October 2nd.

The NYSE also said it was in discussions with the SEC on "marketwide" rules for short-selling, i.e. rules covering short selling for the entire market, not just financials.

This likely means some kind of return of the "uptick rule" which required that traders could only short stocks on an uptick in a stock. The rule was removed last year.I interviewed Niederauer.

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