Ways to minimise need for buying-in
THE Singapore Exchange (SGX) has in its Nov 13 letter to BT clarified that failed share settlements are usually because of human errors rather than intentional naked short sales and that measures to improve the exchange's forced settlement process known as "buying-in" have to be balanced against the potential for market abuse.
This is a sensible and responsible approach to dealing with a difficult and sensitive issue, especially since anecdotal feedback from brokers confirms the human error explanation. Even though the onus is…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand
Hotel Properties prices 5-year notes at 5.1%
Apple to hold launch event on May 7, with new iPads expected
OUE Reit obtains S$600 million unsecured sustainability-linked loan
US: Wall St opens higher as more earnings roll in
GE Aerospace raises earnings goal on strong engine sales