Updated List of NYSE Issues for SEC's Short-Sale Order

By: Ray Pellecchia

File Under: NYSE, NYSE Arca

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We just issued a Trader Update with the latest on the SEC's short-sale order, including the addition of 31 issues. A link to the Update is here, and following is the text:

Revised SEC Short Sell Order
22 Sep 2008

(Updated with compiled list of NYSE-Listed Companies from 09/19/08 and today, 09/22/08) Please note that Credit Suisse Group has been added to the list, and that GLG Partners, Inc, listed in earlier communications as "LG" has been revised with its correct symbol, "GLG".

[Here is the Excel spreadsheet of included issues.]

Please be advised that, effective immediately, the SEC has revised its temporary emergency action with respect to the Order prohibiting short selling in financial firms. As there are material differences in the application of the prohibition, you should read the new SEC order, which can be found at: http://www.sec.gov/news/press/2008/2008-218.htm. The SEC has informed us that all companies that were covered by Friday's order will also be covered by the newly revised short sale prohibition. The SEC has delegated to each national securities exchange the authority to identify additional listed companies that qualify for inclusion in the list of companies covered by the revised prohibition. The additional companies must be in one of the following categories:

-Banks, as defined in 15 U.S.C. 78c(a)(6),
-Savings associations, as defined in 15 U.S.C. 78c(a)(46),
-Registered brokers or dealers, as defined in 15 U.S.C. 78c(a)(48),
-Insurance companies, as defined in 15 U.S.C. 80a-2(a)(17),
-Banks, savings associations, brokers, dealers and insurance companies that are similar to those covered by the foregoing statutory definitions but which are regulated by a foreign (rather than U.S.) regulatory authority,
-US and foreign investment advisors, both registered and unregistered,
-Companies that control or have majority ownership of companies that meet one of the above criteria.

According to the SEC, companies that were on the original list attached to Friday's Order, or that fall into one of the categories expected to be covered by the new order, may opt out of the application of the revised short sale prohibition by informing the NYSE of that determination. The list of additional NYSE-listed financial firms that meet the revised criteria follows. This list is subject to amendment, and we will notify you of any changes in subsequent notices. We hope that this correspondence will assist you in preparing your systems prior to the opening of trading today.

NYSE-Listed Companies Added to the List as of Monday Morning, Sept. 22, 2008

CS Credit Suisse Group
GLG GLG Partners, Inc.
GE General Electric Co.
OCN Ocwen Financial Corporation
KBW KBW, Inc.
GFG Guaranty Financial Group Inc.
MFG Mizuho Financial Group, Inc.
FMR First Mercury Financial Corporation
STC Stewart Information Services Corporation
FCF First Commonwealth Financial Corporation
MTB M&T Bank Corporation
DFS Discover Financial Services
BMO Bank of Montreal
TD Toronto Dominion Bank
CM Canadian Imperial Bank of Commerce
FMD The First Marblehead Corporation
BBV Banco Bilbao Vizcaya SA
CIB BanColombia SA
LM Legg Mason, Inc.
NFP National Financial Partners Corp.
AXP American Express Company
CIT CIT Group Inc.
GM General Motors Corporation
HIG The Hartford Financial Services Group
ADS Alliance Data Systems Corporation
ALD Allied Capital Corporation
RAS RAIT Financial Trust
DRL Doral Financial Corporation
FSR Flagstone Reinsurance Holdings
MCO Moody's Corporation
COF Capital One Financial Corporation

On Friday night, I asked a colleague what he expected of this week, and he said it's going to get a lot more quiet; his reasoning was, what else can happen? Looking at this morning's press, looks like he spoke a little too soon.