Looks like shorting hedge funds etc who borrowed stock from Opes are going to have to return the stock pronto. This means they will have to buy them on market. Allco, ABC, Centro etc, etc. Looks like a covering scramble coming but how many and in what stocks? This will put the wind up stock lenders now. Perhaps there will be less of it as a result. That cant be a bad thing for real investors. Lets hope they have to pay quite a penalty to get them in time. How long will they have? ANZ and Merrill (particularly) seem to be in a big hurry. Covering spikes on Mon? Big time shorters removed cant be a bad thing for prices either. Australian says the two banks are the ultimate owners of the shares held as collateral for loans. But how can they be? You clients did not have a contract with the banks did you? Better have agood look at the very small print of your agreements ASAP.
