CEOs Launch Web Site To Protect Short Sellers

Washington Post – When the Securities and Exchange Commission issued an emergency order last month protecting the stocks of the country’s largest financial institutions against a form of short selling, three businessmen saw an opportunity.

Harvey Pitt, SEC chairman from 2001 to 2003 and chief executive of District-based global consulting firm Kalorama Partners, teamed up with John Tabacco, chief executive of, and Tom Ronk, the chief executive of, to launch

The D.C. company operates a Web-based, real-time electronic stock lending and location service that provides tools to help sellers and brokerage firms comply with SEC rules governing naked short selling — the practice the agency sought to prevent — and regular short sales of stocks. The Web site matches traders with available stocks that can be borrowed for short sales and offers immediate data on the short-sell market. It is named after the SEC’s order regulating such trades, Regulation SHO.

Read Complete Article

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , , , . Bookmark the permalink.

Comments are closed.