Pursuant to the Amendment to the Securities Exchange Commission Emergency Order, dated September 21, 2008, published in Release Number 58611, amending Securities Exchange Commission Emergency Order, dated September 18, 2008, published in Release Number 34-58592, neither SG Americas Securities LLC nor its affiliates may 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 (as defined in such Amended Order), 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.
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