The order, published today, requires anyone making a short sale to first ``borrow or arrange to borrow'' the securities and then deliver them by the settlement date. It applies to shares in 19 firms including Citigroup Inc., JPMorgan Chase & Co. and UBS AG.
The order takes effect on July 21 and expires at the end of July 29. It may be extended for a total of 30 calendar days.
The SEC's proposal will raise the cost of short-selling a stock, said Gregory DePetris, co-founder of Quadriserv Inc., a New York brokerage that specializes in securities lending. ``There will be greater demand for shares,'' he said. ``It will make the process a little less easy.''
As this starts on monday we could see some short covering in financials.
sec order in financials.....
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Last
$28.79 |
Change
0.020(0.07%) |
Mkt cap ! $86.58B | |||
| Open | High | Low | Value | Volume |
| $28.30 | $28.88 | $27.99 | $289.4M | 10.13M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 24295 | $28.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $28.80 | 6073 | 3 |
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| Last trade - 16.10pm 07/05/2024 (20 minute delay) ? |
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Last
$28.80 |
Change
0.020 ( 0.07 %) |
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| Open | High | Low | Volume | ||
| $28.37 | $28.87 | $27.99 | 911100 | ||
| Last updated 15.59pm 07/05/2024 ? | |||||
| ANZ (ASX) Chart |