Equally there are currently around 75mil shares that have been sold short - or declared available for shorting. (If someone can substantiate with fact on this point, I welcome it)
I checked this, RG196:
https://download.asic.gov.au/media/1241087/rg196-short-selling-20110429-updated-asx200-to-asx300.pdf
It describes, among other things, the reporting requirements of short sellers. Basically there are two reports, a short sale transaction report and a short position report.
The transaction report is sent to the market operator (ASX and Chi-X) by 9am the next day and only details short sales, *not* closing out a short by buying. Seems like this is what ASX produces every day, the combined ASX and CXA transaction reports.
The second is the interesting one, the short position report. This is sent to ASIC within T+3. And to answer the question posed above, a short position is the difference between what you borrowed and what you haven't yet sold. It's detailed at the top of page 27.
So, borrowing shares is not a short position. You have a short position once you start selling those shares.
Hope this clarifies.
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