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What A Pack Of Dicks

This is from the Spanish – you will notice that the peanuts have also banned short selling of their index. It is good to see that cretinism is a universal human trait as is a complete lack of understanding as to how markets and economies work.

Due to extreme market volatility, the Spanish regulator CNMV has banned short-selling on certain Spanish stocks and indices when it might constitute or increase a net short position. This means that if you are exposed to these markets, you are allowed to hedge your general market risk by going short on the index. However, you are not allowed to increase or create a net short position. To help you manage this restriction these stocks and indices have been flagged on our trading platform as un-borrowable (unable to open a sell position). However, if you have an exposure and wish to hedge please contact our dealing desk who can help facilitate this. The restriction includes any trade on related equities and indices, and covers cash equities transactions, derivatives in regulated markets or over-the-counter derivatives.

The prohibition is effective for 15 days, starting on Friday 12 August. The CNMV has stated that it may extend this period if necessary.

The following shares are subject to the temporary ban:

Santander (SAN.MC), BBVA (BBVA.MC), Sabadell (SABE.MC), Bankinter (BKT.MC), Banco Popular (POP.MC), Banca Civica (BCIV.MC), Banco de Valencia, Banesto (BTO.MC), Banco Pastor (PAS.MC), Bankia (BKIA.MC), Caixabank (CABK.MC), CAM (CAMH.MC), Grupo Catalana de Occidente, Mapfre (MAP.MC), BME (BME.MC) and Renta 4.

For full details we recommend you refer to the CNMV site and if you have any further questions please do not hesitate to contact us.

Updated: 16/08/11

You dickheads……..your market are going down because your economy and banks are run by people who cannot run a hot bath. Not because some folks have woken up to this and are taking advantage of it via trading.

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Comments

  1. Try not to hold back so much – It’s best to let it out and say what you really think :-)

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