JERSEY CITY, N.J., April 1, 2009 (GLOBE NEWSWIRE) -- Direct Edge announced that yesterday it filed a comment letter with the Securities and Exchange Commission on the subject of anticipated short sale regulation. A copy of the letter can be found on the home page of the Direct Edge web site, www.directedge.com.
To summarize its position, Direct Edge supports an approach that combines continued strict enforcement of existing stock locate, borrow and delivery regulations with appropriate transparency of short positions. Direct Edge also urges restraint in the wake of calls for broad-based market structure modifications, which it believes would have little efficacy and could damage the liquidity and efficiency of U.S. equities markets.
About Direct Edge
Direct Edge offers the next generation of displayed markets. With U.S. cash equities volume routinely exceeding 2 billion shares per day, Direct Edge uses multiple ECN and exchange platforms and unique order types to match complementary forms of liquidity based on sensitivity to transaction cost, fill rate, fill speed, and contra-side sophistication, while maintaining high execution quality and low latencies. Headquartered in Jersey City, N.J., Direct Edge is owned by a consortium that includes the International Securities Exchange, Knight Capital Group, Inc., Citadel Derivatives Group, The Goldman Sachs Group, and J.P. Morgan. More information about Direct Edge is available at http://www.directedge.com. Everybody Needs Some Edge.
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