AUSTRALIA: ASIC begins reporting of Australia short positions

Tuesday June 22 2010

ASIC has from 22 June 2010 commenced daily reporting of aggregated Australia short positions, which will be published on the ASIC website. Short sellers have been required to report short positions to ASIC following the introduction by the Federal Government of new reporting obligations to improve transparency of short sales in the Australian market. In these reports, short sellers disclose to ASIC the size of their overall short positions in specified listed financial products. Starting 22 June 2010, ASIC is required to aggregate this information and report for each product the total of all short positions disclosed to ASIC for each `reporting day`. ASIC publishes this information four reporting days after the date the position is held. This means that the first report published today covers short positions held on 16 June 2010. The reports do not identify short sellers or their individual short positions.

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