Anonymous
I accidentally did a short selling for one of my shares and there may be a penalty incurred with SGX. May I know how likely is this penalty going to happen?
Hi good morning, have accidentally did a short selling for one of my shares and understand that there may be a $1000 penalty incurred with SGX if they are not able to do a buy in for me by t + 2 due date, may I know how likely is this penalty going to happen? Should I be seeking for another way out in maybe shares borrowing from broker?
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Ng Wei En
12 Jun 2020
Analyst at Mastercard
This depends on what stock is involved here. If its a popular stock with high volume, there will be higher chances that they can buy in for you by due date. So the likelihood of the penalty will depend on the popularity of the stock.
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Call your broker and ask if they have shares to lend you. You will have to pay interest on the borrowed shares, but it will be lower than your $1,000 fine.