Just got this email
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As part of Vision Clearing's continuous risk management reviews and assessments, Vision has determined to amend their short sales policy. Effective immediately:
1. All accounts holding overnight short positions must have liquidating value of at least 10 times the notional value of each short position. For example, a customer is holding 2 short positions, one with a notional value of $50,000, and one with a notional value of $25,000. The customer must have liquidating value of at least $500,000.
2. As a general rule, Vision will no longer allow customers to hold overnight short positions in OTC securities (non-exchange listed securities).If you wish to hold an overnight short position in an OTC security, you must receive prior approval from Vision. At a minimum, the account must meet the liquidating value requirement set forth in item 1 above and the security must have 30 day average daily trading volume greater than 100,000 and must be priced greater than $5.00 per share. Vision, in its sole discretion, will determine to approve or disapprove any such request.
3. If a security is imminently pending a re-org, Vision will not allow overnight short positions in that security. If we find such situations, we will require you to close out the short position. "
"
As part of Vision Clearing's continuous risk management reviews and assessments, Vision has determined to amend their short sales policy. Effective immediately:
1. All accounts holding overnight short positions must have liquidating value of at least 10 times the notional value of each short position. For example, a customer is holding 2 short positions, one with a notional value of $50,000, and one with a notional value of $25,000. The customer must have liquidating value of at least $500,000.
2. As a general rule, Vision will no longer allow customers to hold overnight short positions in OTC securities (non-exchange listed securities).If you wish to hold an overnight short position in an OTC security, you must receive prior approval from Vision. At a minimum, the account must meet the liquidating value requirement set forth in item 1 above and the security must have 30 day average daily trading volume greater than 100,000 and must be priced greater than $5.00 per share. Vision, in its sole discretion, will determine to approve or disapprove any such request.
3. If a security is imminently pending a re-org, Vision will not allow overnight short positions in that security. If we find such situations, we will require you to close out the short position. "
