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SET threatens to discipline brokers if they don’t submit evidence of owning shares within 15 days, they will be considered Naked Short – no need to use them yet. Uptick : InfoQuest


Stock news1:19 p.m.2023-11-21

The Stock Exchange of Thailand (SET) will step up inspection of short sale transactions by strictly submitting evidence of brokers showing possession of stocks before sending sell orders within 15 days. If they cannot send them in time, It is determined that it is a short sale without stocks in hand (Naked Short Sell), which the SET will take disciplinary action against the broker.

In addition, the SET will set up a special committee. which will consist of all parties involved To review the fairness of those who use the trading program and those who do not use the trading program. To be in accordance with international principles

As for what the SET has already done is to send a circular instructing brokers and all relevant parties to cooperate in investigating shock sale transactions. Along with coordinating with the Securities and Exchange Commission (SEC) to check the joint trading account that did the short sale transactions to find the person who actually has authority to give orders.

For recommendations SEC gives the committee The SET considers the appropriateness of setting the short sale price at a price higher than the last price (Uptick Rule) in order to avoid a price dump. The SET has discussed and agreed that at this time there is no need to use it. Because the Thai stock market changes according to world trends, it is not due to abnormalities. But it does not close off the opportunity to use it. If unusual situations are found that affect trading, action will be taken immediately.

By InfoQuest News Agency (21 Nov. ’23)

Tags: SET, SET

Tags: SET threatens discipline brokers dont submit evidence owning shares days considered Naked Short Uptick InfoQuest


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