Difference between revisions of "Short sale"

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On September 18, 2008, the board of the [[Financial Services Authority]] (FSA) announced it would introduce new provisions to its Code of Market Conduct to prohibit the active creation or increase of net [[short position]]s in publicly quoted financial companies. The goal was to protect the fundamental integrity and quality of markets during disorderly market conditions. The new provisions were implemented at midnight.<ref>{{cite web|url=http://www.economist.com/displaystory.cfm?story_id=11591349|name=FSA Statement on Short Positions in Financial Stocks|org=FSA|date=September 19, 2008}}</ref>  
On September 18, 2008, the board of the [[Financial Services Authority]] (FSA) announced it would introduce new provisions to its Code of Market Conduct to prohibit the active creation or increase of net [[short position]]s in publicly quoted financial companies. The goal was to protect the fundamental integrity and quality of markets during disorderly market conditions. The new provisions were implemented at midnight.<ref>{{cite web|url=http://www.economist.com/displaystory.cfm?story_id=11591349|name=FSA Statement on Short Positions in Financial Stocks|org=FSA|date=September 19, 2008}}</ref>  


One day later, the [[U.S. Securities and Exchange Commission]] said it would temporarily ban investors from short selling 799 financial companies. The temporary ban, aimed at helping restore falling stock prices that shattered confidence in the financial markets, took effect immediately.<ref>{{cite web|url=http://money.cnn.com/2008/09/19/news/economy/sec_short_selling/?postversion=2008091907|name=SEC bans short-selling|org=CNNMoney.com|date=September 19, 2008}}</ref>  
One day later, the [[U.S. Securities and Exchange Commission]] said it would temporarily ban investors from short selling 799 financial companies. The temporary ban, aimed at helping restore falling stock prices that shattered confidence in the financial markets, took effect immediately.<ref>{{cite web|url=http://money.cnn.com/2008/09/19/news/economy/sec_short_selling/?postversion=2008091907|name=SEC bans short-selling|org=CNNMoney.com|date=September 19, 2008}}</ref>  
 
'''CBOE Creates Short Sale Update Information  '''
 
In September 2008, Chicago Board Options Exchange (CBOE) launched a "Short Sale Update" Web Page (http://www.cboe.com/ShortSale) to keep options traders, customers, and CBOE Members fully informed on recently enacted restrictions on short sales. It contains a full compendium of links to lists of the prohibited financial securities, by exchange, and lists relevant SEC and CBOE information documenting the various restrictions. No one source had previously been created to lay out the broad swath of regulatory information on this issue.
 
Because regulations can and do change, CBOE plans to keep the Web page updated on an ongoing basis.
 
Retrieved from "http://www.marketswiki.com/mwiki/Short_sale_update"




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