Reuters, 22 Sep 2008, Kevin Lim
SINGAPORE, Sept 23 (Reuters) - Singapore Exchange (SGXL.SI: Quote, Profile, Research, Stock Buzz) said late on Monday that it would tighten rules to discourage "naked" short-selling as part of a global move to stem the selling of shares by speculators who do not own the securities.
Traders who cannot deliver shares they sold will now face a penalty of 5 percent of the value of the failed trade subject to a minimum of S$1,000 ($710). This is in addition to the current processing fee for buying-in of S$30 per contract.
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