NSE reaffirms naked short selling ban
24 February 2015 Lagos
Image: Shutterstock
The Nigerian Stock Exchange (NSE) has reminded dealing members about the naked short selling prohibition in place.
In a circular issued on 12 February, the NSE reaffirmed the naked short selling ban, reminding members that any dealing member found in violation will be fined up to 10 percent of the total transaction value.
Any dealing member found to be in violation more than once will be suspended from trading, added the NSE.
The NSE introduced market making and securities lending in 2012 to boost liquidity.
In a circular issued on 12 February, the NSE reaffirmed the naked short selling ban, reminding members that any dealing member found in violation will be fined up to 10 percent of the total transaction value.
Any dealing member found to be in violation more than once will be suspended from trading, added the NSE.
The NSE introduced market making and securities lending in 2012 to boost liquidity.
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