Nasdaq OMX positive on SEC meeting on short selling

Source: Nasdaq OMX

The Nasdaq OMX Group (Nasdaq:NDAQ) supports the SEC's thoughtful and deliberative process in examining proposed rules to place limits on short selling.

Given the range of proposals the SEC must consider in the context of whether to apply new short selling rules, and given the impact of potential changes in this area of regulation, the 60-day comment period and May Roundtable are positive steps toward finding solutions that will improve market quality and investor confidence.

The SEC has had success with rules it implemented to virtually eliminate detrimental "naked short selling," and that has been an important move forward for the markets, investors and companies.

Chris Concannon, Executive Vice President, NASDAQ OMX Transaction Services, commented, "We are pleased with the way discussions progressed today and that the SEC has incorporated the 'Modified Uptick' rule suggestions proposed by NASDAQ and other markets. We are also gratified the SEC will take a quantitative approach and seek to measure the impact of any proposed changes using current and past economic studies."

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