Suppose a speculator borrowed 50,000 Rio Tinto shares at time T and put a sale order for the shares at T+5 for 100 dollars each.

Which of the following statements is correct?

	A.	This is an ordinary sale.
	B.	The speculator does not have an exercisable and unconditional right to vest the shares in the buyer.
	C.	This creates a long position.
	D.	This sale is illegal if the seller is not a professional arbitrageur or a professional dealer.
	E.	The speculator needs to report the sale to its broker.