澳洲证券管理委员会禁止short-selling(卖空)

黑山老妖

ASIC bans all short-selling in dramatic move to protect Australian markets

By a staff reporter

The Australian Securities and Investments Commission (ASIC) will ban all short-selling to protect Australian markets from falling prey to short-sellers shut out of other markets.

In a dramatic move late Sunday, the corporate watchdog said it would now ban "covered", as well as "naked" short-selling, because restrictions placed on short-selling activity in other markets, internationally, put Australia at a heightened risk.

"These developments which, in effect, restrict short-selling activity in these markets, intensify the risks on the Australian market," ASIC said in a statement.

"Put simply, because global funds can move quickly, the risk of unwarranted activity on the Australian market has intensified.

"This intensity has been assessed by ASIC in the context of the small size, relative to other markets, of the Australian market and the structure of our market."

ASIC chairman Tony D'Aloisio said it was necessary to prohibit all short-selling because of the relatively small size and structure of the Australian market.

"These measures are necessary to maintain fair and orderly markets in these exceptional times of global crises of confidence in financial markets," Mr D'Aloisio said.

"To limit the prohibition of financial stocks, as has been done in the UK, could subject our other stocks to unwarranted attack given the unknown amount of global money which may be looking for short sell plays."

The new measures will apply from the opening of the market on Monday, September 22. ASIC said it would reassess and advise the market in 30 days, as to whether covered short sales for non-financial stocks would be reopened.

Short-selling is when traders seek to profit from selling borrowed shares of companies, to then buy them back at a lower price. The practice has been blamed, in part, for the sharp declines of stocks such as Macquarie Group Ltd in recent days.

The regulator banned so-called 'naked' short-selling on Friday to help stem market volatility. Naked short-selling involves selling without first borrowing the stock.

黑山老妖

这个决定太太太。。。。。。不可思议了。。。
非常desparate啊。

江上往来人

这个－－－－

飞行

全禁啊，晕，美国也只是禁了金融股而已。。。

jasonliu234

卖空是在熊市的时候，赚钱的手法

不过客观上，会让股市更加低迷。

江上往来人

这就是说，证管会就明确了市场趋向了罗。

黑山老妖

这个交易量肯定会下去。大量资金可能会抽走，继续跌？

黑山老妖

本来说只有naked short是被禁止，但是现在说要把所有的short都给禁掉。晕死。

HNREN

那CFD没得玩了？？

黑山老妖

原帖由 HNREN 于 21/9/2008 19:06 发表
那CFD没得玩了？？

Good question...

我是老人

REALLY?

小小强

ban了会不会重新解ban呢?

黑山老妖

Yes! Really.
According to ASIC's own website...
08-204 Naked short selling not permitted and covered short selling to be disclosed dated 19/9/2008

08-205 Covered short selling not permitted dated 21/9/2008

黑山老妖

This is initially for 30 days only from monday. After 30 days the ASIC will assess the situation again.
The interesting question now is what happens to existing short sells... Buy back now or a grace period of x number of trading days...

alyssa

interesting.
是否预示着金融规则改革的时代到来了？

小小强

觉得应该改革了～～
这次危机就是因为杠杆太大....   有个足够大的杠杆能把地球撬起来翻个个儿

ltbyun

那只能说情况很严重,大家回本了就赶紧跑,禁止卖空意味着大跌的时候,没有人会接盘

RichC

全面禁止short-selling是有点不可思议，阻碍了price discovery，但在这样的弱市中不失为一个利好

英美禁止shortsell金融股后，金融股周五全面反弹20%以上，看明天asx怎么表现了，呵呵

大飞熊

老妖，我还是不是很明白covered short selling到底是什么意思？

是不是手里有股票也不能short的意思吗？

比如我有1000股的BHP，我先把他卖了，再买回来，算不算short呢？

还有其他的CFD是不是就不允许short了。

kyu

我的理解是你要卖你没有的东西。。明白的解释一下。。。多谢多谢

大飞熊

原帖由 kyu 于 2008-9-21 21:47 发表
我的理解是你要卖你没有的东西。。明白的解释一下。。。多谢多谢

这个应该指的是naked short。

但是我不明白的是covered short。

ltbyun

covered short是指你可以找经纪借股票来卖,等股票下跌了,再买回来还给经纪

Devil_Star

原帖由 ltbyun 于 2008-9-21 21:54 发表
covered short是指你可以找经纪借股票来卖,等股票下跌了,再买回来还给经纪

经纪自己是没有股票借出的， 一般他们只是个中介， 你要SHORT SELL， 他们帮你向基金借（比如向一些SUPER/PENSION FUND）。
NAKED SHORT SELLING是指先SHORT SELL, 再去找人借。这个意思就是不管有没人借给你， 你都可以整一堆股票吃来砸盘，我觉得这是一种很不合理的行为。

Devil_Star

原帖由 大飞熊 于 2008-9-21 21:38 发表
老妖，我还是不是很明白covered short selling到底是什么意思？

是不是手里有股票也不能short的意思吗？

比如我有1000股的BHP，我先把他卖了，再买回来，算不算short呢？

还有其他的CFD是不是就不允许short ...

卖你有的股票， 那只是单纯的卖而已啊～

vvguru

Dear Client,

As you may be aware ASIC and the ASX have in effect banned the creation of new short positions in securities, registered managed investment schemes and certain other government securities.

In support of an orderly market CMC Markets is prohibiting shorting the following Australian Share and Sector CFD instruments from 9am (AEST) Monday, Sept 22nd 2008:
1. TAL - Tower Australia Group
2. BOQ - Bank of Queensland
3. BEN - Bendigo and Adelaide Bank
4. IAG - Insurance Australia Group
5. Sun - Suncorp-Metway
6. AMP - AMP Ltd
7. MQG - Macquarie Group
8. SGB - St George Bank
9. QBE - QBE Insurance Group
10. ANZ - Australia & New Zealand Bank
11. NAB - National Australia Bank
12. CBA - Commonwealth Bank         13. WBC - Westpac Bank
14. MCW - Macquarie Countrywide
15. CGF - Challenger Financial Services Group
16. IFL - IOOF Holdings
17. ROK - Rock Building Society
18. WBA - Wide Bay Australia
19. AXA - AXA Asia Pacific
20. BNB - Babcock and Brown
21. PPT - Perpetual
22. HGI - Henderson Group
23. AUW - Australia Wealth Management
24. AUSFINANCE - Australian Finance Sector

If you currently hold an open short position, you are not forced to close this and if you need to sell in order to close a long position your order will also be accepted.

International regulators have formalised a similar position and we anticipate that other regulators and authorities around the world will make similar announcements. We will do our best to keep you informed of any changes.

tellmenow

马后炮，空头早就平仓了。

dreamknight2

密切关注新的金融动向……

买房子啊

CFD现在没得Short股票了

winsion

这还是资本主义吗？？？一纸文件就把市场干预了。

wdmznzd

这说明危机的程度，已经管不了是不是自由市场经济了，如果市场崩溃了大家都没得玩了。