11:35 AM
NYSE Blog: Neiderauer Supports Uptick Rule
In his latest entry to the Exchanges Blog, the NYSE’s blog focused on the markets, products and services of NYSE Euronext, Ray Pellechia, vice president of corporate communications at the exchange, points out some details regarding short selling and the uptick rule.
The blog recaps a recent speech given by Duncan Neiderauer, chief executive officer of NYSE Euronext, in which he said the economic situation could be dire if the credit markets don’t loosen up.
In addition Neiderauer said he is in favor of re-implementing an uptick rule to prevent a short sale unless a share price is higher than the last trade.
Check out the Exchanges Blog for more from inside the exchange.