The US Securities and Exchange Commission (SEC) has banned naked short-selling of US stocks from the start of business today, 18 September 2008. This affects the short-selling of CFDs on US stocks. However, Saxo Bank has pre-borrowed 225 of the largest stocks, meaning clients can continue short selling these CFDs.
This does not affect clients with short positions established prior to the ban announced by the SEC on 17 September 2008.
A full list of available CFDs for short selling is available on the trading platform under “Account” > “Trading Conditions” > “CFD Instrument List”.
Clients are advised to use increased precaution in the current volatile markets when short-selling US CFDs. When short-selling CFDs, clients can experience forced closure of current short positions.
If you have questions or require more information, please contact your account manager.
