JAPAN: CHI-X to Offer Pegged Japan Short Sell Order Type

Wednesday June 6 2012

Proprietary trading system (PTS) Chi-X Japan is to introduce a new pegged Japan short sell order type from June, which offers investors a simpler, faster way to short-sell effectively in Japan.

The Pegged Short Sell (PSS) order type is designed to dynamically adjust passive orders to the best short-sell price as the market moves, eliminating the need to amend or cancel your order and keeping your priority relative to other PSS orders at the same price on the market.

Short Sell orders are subject to the up-tick rule. The PSS order type can be used to follow the market without needing to update a Short Sell order, provided it is a passive order.

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