Prospector
Not a scaredy cat anymore
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So now what?
Delayed start to ASX?
- Thread starter Prospector
- Start date
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10.30 has come and gone
prawn_86
Mod: Call me Dendrobranchiata
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So now what?
The market wont open today cause they cant get their **** together and then Wall St will dive tonight, meaning that we will dive tomorrow, meaning that our 1 day of gains from following Wall St was missed out on making our fall even greater...
rub92me
Don't look back
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Looks like they've read Wayne's suggestion. They have decided to stop buying as well. :
:
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0027 GMT [Dow Jones] Market open delayed pending clarification by ASIC on short selling
ban. Some traders speculate further delays possible. ASX initially said open delayed to
0030 GMT, but then says still waiting for ASIC clarity. Great uncertainty among options
traders over implications of ASIC's weekend move to ban short selling. ASIC says
ETOs, ETFs and warrant markets exempted from short-selling ban. Yet traders can't
see how that would work. "There's no way they cannot be affected," says
options trader. "If people want to short the market, they could do it via the
options market. They could sell calls naked, which is effectively naked short
selling." Adds, "most of the liquidity is from hedge funds doing stuff. If they
can't hedge off a position, why would they be buying? People are saying if these
hedge funds can't short, they're going to be liquidating positions rather than
buying." Index last 4704.1. (DWR)
ban. Some traders speculate further delays possible. ASX initially said open delayed to
0030 GMT, but then says still waiting for ASIC clarity. Great uncertainty among options
traders over implications of ASIC's weekend move to ban short selling. ASIC says
ETOs, ETFs and warrant markets exempted from short-selling ban. Yet traders can't
see how that would work. "There's no way they cannot be affected," says
options trader. "If people want to short the market, they could do it via the
options market. They could sell calls naked, which is effectively naked short
selling." Adds, "most of the liquidity is from hedge funds doing stuff. If they
can't hedge off a position, why would they be buying? People are saying if these
hedge funds can't short, they're going to be liquidating positions rather than
buying." Index last 4704.1. (DWR)
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pre open at 10.40
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- 9 May 2006
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Just received an advice that market is going to pre-open at 10:40
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Dealer Broadcast
22 Sep 2008 at 00:34:38 (GMT)
The ASX market opening has been delayed beyond the 10:30 start.
22 Sep 2008 at 00:34:38 (GMT)
The ASX market opening has been delayed beyond the 10:30 start.
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strange days indeed..
well i got 2 trades through on the Aussie 200 before IG closed down too...
Anyway, jumping back to FX... which is still working
well i got 2 trades through on the Aussie 200 before IG closed down too...
Anyway, jumping back to FX... which is still working
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I just got 2 messages on Iress:
1. SFE Advise: AP futures and options are currently in halted state pending clarification from ASIC
2. Market will be placed into pre open at 10.40am.
ASIC announcement is apparently to do with short selling - what a mess!
1. SFE Advise: AP futures and options are currently in halted state pending clarification from ASIC
2. Market will be placed into pre open at 10.40am.
ASIC announcement is apparently to do with short selling - what a mess!
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SPI to go into re-open at 10.50
white_goodman
BOC
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my theory....
Allco owns 20 Bridge St (exchange Centre)
they cant sell it to save themselves...
theyve blown it up internally to collect the insurance..
Allco owns 20 Bridge St (exchange Centre)
they cant sell it to save themselves...
theyve blown it up internally to collect the insurance..
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SFE to open SPI at 10:50
Prospector
Not a scaredy cat anymore
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DO you think they acted without thinking of the consequences? Seriously, is there anyone out there who knows what they are doing
Seems like us morons finally rule the world.
Definition of a moron: Someone with a different opinion.
prawn_86
Mod: Call me Dendrobranchiata
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Perhaps ASF should band together and try and sue ASIC or the ASX for 'lost income' and 'hardship'
Take all the gun traders here average daily earnings and say that this 1 hr lost cost $X amount equates to a total of X dollars, plus compo for hardship
Who's up for it?
Take all the gun traders here average daily earnings and say that this 1 hr lost cost $X amount equates to a total of X dollars, plus compo for hardship
Who's up for it?
ASIC restrict short selling with immediate effect. 22 Sep 2008
The Australian Securities and Investment Commission has made the following decisions to apply from the opening of the market on Monday, 22 September 2008:
1. Naked short selling banned
2. Covered short selling banned (subject to limited authorised market-maker exemption)
3. ASIC will reassess and advise the market in 30 days, whether or not it will at that time, or at a later date, reopen covered short sales for non-financial stocks.
ASX will implement the changes by removing all stocks from the permitted list of naked short sales.
Impact on CommSec customers:
In order to support the new regulations and return confidence to the financial markets, CommSec has made the following changes effective immediately
- Day Short Selling - No new orders will be accepted.
- Term Short Selling – No new orders will be accepted. Clients with open positions can still close out existing positions.
- ASX CFDs – No new “sell to open” orders will be accepted. Clients with open positions can still close out existing positions.
- OTC CFDs - No new “sell to open” orders will be accepted. Clients with open positions can still close out existing positions.
As ASIC and the ASX release more information regarding the changes to Short Selling we will post additional updates on the website to keep CommSec customers informed.
For further information regarding the ASIC guidelines on short selling please refer to the ASIC website (asic.gov.au)
The Australian Securities and Investment Commission has made the following decisions to apply from the opening of the market on Monday, 22 September 2008:
1. Naked short selling banned
2. Covered short selling banned (subject to limited authorised market-maker exemption)
3. ASIC will reassess and advise the market in 30 days, whether or not it will at that time, or at a later date, reopen covered short sales for non-financial stocks.
ASX will implement the changes by removing all stocks from the permitted list of naked short sales.
Impact on CommSec customers:
In order to support the new regulations and return confidence to the financial markets, CommSec has made the following changes effective immediately
- Day Short Selling - No new orders will be accepted.
- Term Short Selling – No new orders will be accepted. Clients with open positions can still close out existing positions.
- ASX CFDs – No new “sell to open” orders will be accepted. Clients with open positions can still close out existing positions.
- OTC CFDs - No new “sell to open” orders will be accepted. Clients with open positions can still close out existing positions.
As ASIC and the ASX release more information regarding the changes to Short Selling we will post additional updates on the website to keep CommSec customers informed.
For further information regarding the ASIC guidelines on short selling please refer to the ASIC website (asic.gov.au)
