Greece bans short selling of listed shares
09 August 2011 Athens
Image: Shutterstock
The Hellenic Capital Markets Commission (HCMC) has announced a temporary two-month ban on short selling of shares listed on the Athens Exchange. The ban takes immediate effect and remains in force up to and including 7 October.
Short selling of shares and ETFs is banned irrespective of the executing venue - regulated markets, multilateral trading facilities or OTC. The ban includes naked and covered short sales and sales which are settled with subsequent intraday purchases.
Obtaining or increasing short exposure through listed or OTC derivatives is not prohibited, according to the HCMC, and some market-makers are exempt.
The ASE general index was last just below 970 after yesterday dropping almost six per cent to close below 1000, according to Bloomberg data.
Short selling of shares and ETFs is banned irrespective of the executing venue - regulated markets, multilateral trading facilities or OTC. The ban includes naked and covered short sales and sales which are settled with subsequent intraday purchases.
Obtaining or increasing short exposure through listed or OTC derivatives is not prohibited, according to the HCMC, and some market-makers are exempt.
The ASE general index was last just below 970 after yesterday dropping almost six per cent to close below 1000, according to Bloomberg data.
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