The SEC has introduced Rule 201 under Regulation SHO to go into effect on February 28, 2011. The new rule, alternatively known as the Alternative Uptick Rule, establishes a new price test on certain short sale orders. ITG has made changes to its order routing and execution systems to prepare for the new Rule. We have prepared a complete letter to this effect, describing the new Rule and the changes to ITG systems. That letter can be found here:http://www.itg.com/news_events/SSAUR_Client_Letter_LMC_102610.pdf
If you have any questions regarding Rule 201 please contact ITG’s Compliance Department at 212-588-4000.
