Ann: iSignthis strategic investment into NSX Limited, page-93

Umm - shorters don't pay for sells. They get paid. They pay when they close the short. i.e. I borrow 10,000 XYZ to short at $1. I get paid $10,000 now and owe whoever I borrowed them from 10,000 shares. You pay the person you borrowed the shares from interest (or rent if you like) whilst they are outstanding (and this wouldn't be affected by T+0 or T+3 as you still have borrowed them for the same length of time). When you close your short you buy them onmarket (and pay for them) and return them to the lender.