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RBA wants 'borrowed' trades declared
RBA wants 'borrowed' trades declared | The Australian
Quote:
INVESTORS might have to reveal whether shares they trade are borrowed, as part of a series of changes called for by the Reserve Bank of Australia to prevent a repeat of the Tricom settlement failure which spooked the share market in January.
In a rare intervention into the operation of the stock market, the central bank called for "an increase in the transparency of securities lending activity".
The Australian Securities Exchange yesterday broadly welcomed the results of the review of settlement practices, revealing that it was taking up the RBA's call to more heavily fine brokers who failed to settle or pay for their trades in time.
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Sim'
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