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Customer Alert
For
customer or counterparty positions in a derivative security based on a Covered Security
established after 12:01 ET on September 22, 2008, Newedge USA may not knowingly
effect a short sale as part of bona fide market making and hedging activity related
directly to bona fide market making in a derivative security based on a Covered
Security, if the customer's or counterparty's transaction will result in the customer
or counterparty establishing or increasing an economic net short position (i.e.,
through actual positions, derivatives, or otherwise) in the issued share capital
of a firm covered by the Order.
"Order" refers to the SEC's Order issued on September 19, 2008, in which it prohibited
short sales to occur in the equity securities of approximately 800 financial services
companies. "Covered Security" refers to the aforementioned approximately 800 financial
services companies. Please be advised that since the SEC's Order was issued, the
NYSE and Nasdaq have identified additional financial services companies in whose
equity securities short-sales are prohibited.
Customer Alert
Newedge
was deeply disturbed and disappointed to learn about the
loss by a SunGard employee of a laptop computer containing personal information for some Newedge USA, LLC, equity customers(formerly PreferredTrade
and Fimat Preferred). SunGard had possession of this data as part of a systems
migration project that it is performing for Newedge.
Newedge takes security and customer protections very seriously and is very
concerned over any customers who may have been affected.
Newedge has arranged for SunGard to notify all affected Newedge customers
about
the situation and to provide them with free credit monitoring tools
for two years. Sungard has established a website
www.sungard.com/phase3lostlaptop and a toll free hotline 866-520-2413
to provide affected account holders with additional information about this incident.
If you are concerned that you may be affected and have not yet been
contacted by SunGard, please call the toll free number listed above.
Please note that options are not suitable for all investors and investing
in options carries substantial risk. Because of the importance of tax considerations
to all options transactions, investors considering options should consult with a
tax advisor as to how taxes affect the outcome of contemplated options transactions.
Individuals should not enter into options transactions until they have read and
understood the risk disclosure document titled "Characteristics and Risks of Standardized Options."
To obtain a copy of the Options Disclosure Document contact us at (888) 781-0283.
Futures are not suitable for all customers. Before trading
in any futures, you should contact Newedge USA, LLC at (888)781-0283 to obtain a copy
of the required risk disclosure statement. There is a substantial risk of loss in
trading futures and options.
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