ist unser Steinhoff vielleicht "The next GME" ?!
Date: 14 July 2021
SUBJECT: REMINDER ON THE PROHIBITION OF NAKED SHORT-SELLING IN JSE EQUITIES MARKET
Name and Surname: Valdene Reddy
Designation: Director – Capital Markets
Dear Client,
Given the current period of market volatility, uncertainty and the associated elevated trading volumes, operational
resilience and settlement processes are in heightened focus to ensure orderly and efficient markets.
Members are reminded of the circumstances in which short selling may take place and the prohibition on naked short
selling as set out in the JSE equities market rules.
The JSE equities market rules state that clients may only place sell orders with a member (rule 10.50.1) and members
may only insert sell orders into or report trades to the JSE equities trading system (rule 10.50.2) if the securities have
been secured and will be available for settlement on the settlement date in one of the following circumstances:
- the securities are in uncertificated form, owned by the client and held by the CSDP of the member or client, as
applicable;
- another transaction has been concluded that will yield the securities;
- a satisfactory borrowing arrangement is in place for an equivalent amount of securities;
- a corporate action will result in the securities required; or
- the securities will be transferred from a foreign register to the local register in good time.
These arrangements must be in place before the client places an order to sell short and before a member inserts a short
sell order or reports a short sell trade to the JSE equities trading system; and the JSE will take decisive action in those
instances in which naked short selling is identified.
Quelle: JSE
clientportal.jse.co.za/communication/jse-market-notices
Dokument 293
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