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Article: DTCC Calls Euromoney Article on Its Stock Borrow Program and Naked Short Selling ''Sloppy Journalism''.
- Article from:
- Business Wire
- Article date:
- March 31, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- The Depository Trust & Clearing Corporation (DTCC) responded today to an article appearing in the April edition of Euromoney magazine on naked short selling, saying the article "fails to reflect any true understanding of the complicated securities clearing and settlement programs it discusses, fails to report that most of the litigations mentioned in the article have, to date, been dismissed or withdrawn, and, perhaps most egregiously, accepts as true erroneous characterizations of DTCC's stock borrow program."
In a letter to the editor, which was released publicly and posted on its Web site, DTCC cited a number of inaccuracies, insinuations and ...