Short Selling - NYSE Stock

winsonlee · 30 August 2008

Is this article referring that I couldn't short sell the following stocks. Can I still do it using CFD's ? Currently I am trying on a demo software by CMC Markets and seems like it is allowing me to short citigroup.

Short Selling Restrictions on US Stocks
On Monday 21st July the SEC issued an Emergency Order restricting the unprotected short selling on a number of stocks, which has resulted in a longer trade process. Please see below stocks impacted by the order:

BNP Paribas Securities Corp. (BNPQF and BNPQY)
Bank of America Corporation (BAC)
Barclays PLC (BCS)
Citigroup Inc. (C)
Credit Suisse Group (CS)
Daiwa Securities Group Inc. (DSECY)
Deutsche Bank Group AG (DB)
Allianz SE (AZ)
Goldman Sachs Group Inc. (GS)
Royal Bank ADS (RBS)
HSBC Holdings PLC ADS (HBC and HSI)
J.P. Morgan Chase & Co. (JPM)
Lehman Brothers Holdings Inc. (LEH)
Merrill Lynch & Co., Inc. (MER)
Mizuho Financial Group, Inc. (MFG)
Morgan Stanley (MS)
UBS AG (UBS)
Freddie Mac (FRE)
Fannie Mae (FNM)

Richard Dale · 30 August 2008

The short selling restrictions have been lifted by the SEC after August 12th 2008:

http://www.sec.gov/news/press/2008/2008-155.htm

kam75 · 9 September 2008

Different CFD providers allow you to trade CFDs short on different stocks so you may want to ask them if you can do a CFD short on those stocks.

I trade only CFDs short on the Nasdaq and NYSE via MF Global. They have a large selection of stocks to choose from. The way I see it, there's no point in selling the physical stock short if you can do a CFD trade. Its far more cost effective because of margin (usually 10-20%). And you even get credited interest when holding a CFD short position.

Regards
kam75
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http://www.sharesmadeeasy.com

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