NEW YORK -- Designated market makers are disappointed the Securities and Exchange Commission didn't grant them an exception to the new rule banning short sales on plummeting stocks, but they are already anticipating lucrative trading opportunities just before a stock hits the rule's sweet spot.

"There is plenty of room to get creative," said Ross Moore, an industry veteran and the former CEO of market maker LaBranche Structured Products LLC, speaking at a morning conference on the implications and ambiguities of the SEC's new short sale rule.

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