The UK’s Financial Services Authority (FSA) has banned short-selling of UK financial stocks from the start of business Friday 19 September 2008. This affects the short-selling of CFDs on UK financial stocks. The ban will be in place until 16 January 2009 although it will be reviewed after 30 days.
This does not affect clients with short positions established prior to the ban announced by the FSA on 18 September 2008.
The CFDs no longer available for short-selling are:
ADMIRAL GROUP PLC
JUST RETIREMENT HOLDINGS PLC
ALLIANCE & LEICESTER PLC
LEGAL & GENERAL GROUP PLC
ALLIANCE TRUST PLC
LLOYDS TSB GROUP PLC
ARBUTHNOT BANKING GROUP PLC
LONDON SCOTTISH BANK PLC
AVIVA PLC
NOVAE GROUP PLC
BARCLAYS PLC
OLD MUTUAL PLC
BRADFORD & BINGLEY PLC
PRUDENTIAL PLC
BRIT INSURANCE HOLDINGS PLC
RESOLUTION PLC
CHESNARA PLC
ROYAL BANK OF SCOTLAND GROUP PLC
EUROPEAN ISLAMIC INVESTMENT BANK PL
RSA INSURANCE GROUP PLC
FRIENDS PROVIDENT PLC
ST JAMES'S PLACE PLC
HBOS PLC
STANDARD CHARTERED PLC
HIGHWAY INSURANCE GROUP PLC
STANDARD LIFE PLC
HSBC HOLDINGS PLC
TAWA PLC
ISLAMIC BANK OF BRITAIN PLC
MARGIN REQUIREMENTS
Due to current market volatility we are changing the margin requirements on a total of 30 selected European, Asia/Pacific and US CFDs. To view a list of the relevant CFDs, click here. The margin ratings are due to be changed according to the following time schedule:
15:00 CET on 19 September: European CFDs
21:00 CET on 19 September: US CFDs
06:00 CET on 22 September: Asia/Pacific CFDs
If you have questions or require more information, please contact your account manager.
The UK’s Financial Services Authority (FSA) has banned short-selling of UK financial stocks from the start of business Friday 19 September 2008. This affects the short-selling of CFDs on UK financial stocks. The ban will be in place until 16 January 2009 although it will be reviewed after 30 days.
This does not affect clients with short positions established prior to the ban announced by the FSA on 18 September 2008.
The CFDs no longer available for short-selling are:
MARGIN REQUIREMENTS
Due to current market volatility we are changing the margin requirements on a total of 30 selected European, Asia/Pacific and US CFDs. To view a list of the relevant CFDs, click here. The margin ratings are due to be changed according to the following time schedule:
15:00 CET on 19 September: European CFDs
21:00 CET on 19 September: US CFDs
06:00 CET on 22 September: Asia/Pacific CFDs
If you have questions or require more information, please contact your account manager.
Best regards,
Saxo Bank