Initiated Measure 9 aims to prohibit the practice of "short selling" in the financial securities trade.

But Drexel executives expressed concern about what would happen as the enormous dollar load of securities trades begin to be settled today.

On the recording, Mr. Gibbons said he had been asked by a subcommittee staff member to examine some securities trades.

Clearing and settlement are the final stages of any securities trade.

That increase will cover all securities trades.

The freezing of the banking system also means that securities trades cannot be cleared, so the stock market remains closed.

Comptroller since 1985, had made more than 100 securities trades in the last four years.

Within the euro-zone, all interbank transfers and securities trades are already carried out in euros.

An insider is an individual who is knowingly connected with a company in the six months prior to the securities trades in question.

According to the indictment, the scheme involved the creation of illegal losses for tax shelters through engaging in fraudulent securities trades.