Conversions

[Snowman]

I would like to start a poll as to what everyone is using to get around the up tick rule. I have heard many stories as to what is legal and what isn't. I have spoken with an unnamed profirm that still uses conversions but others I know say they are not legal and they have moved to "Slips" which seam very expensive! If anyone can shead some light on the matter please add your two cents.

 

[AnonymousTrader]

Here is what I know.

The firms have divided into two camps. First camp, takes on risk and offers conversions. The other camp, prefers to be safe and not offer.

The real problem is the following. Conversions are a perfectly legal and viable options strategy. HOWEVER, if you use it to circumvent the short-sale rule, it comes into question with the SEC ruling.
Now, depending on how you read the ruling, that's the decision on whether or not to offer them.
I am sure, if they were 100% legal and safe, ALL firms would offer them (extra source of revenue).
The fact that some do and some don't may suggest that either some firms are taking too great of a risk, OR that some firms are overregulating themselves (which I doubt)

My question is, does Assent offer conversions now, or no? I heard that that was in the making, but don't know what the current status is. Anyone care to share?