What happens after an accidental short sell? - Seedly


Asked by Charmaine Lim Xiaomei

Asked on 30 Aug 2018

What happens after an accidental short sell?

Just realised that I sold more shares (just 100 more) than I had šŸ˜¢

Understand that I will be subjected to SGX buy in on T+3 and will be based off 2 bids higher than the closing price of T+3. Other than that, there may also be a penalty (S$1000 or 5% of the value of the failed trade).

Has anyone been fined before and is there a way to have the fine waived off?


Answers (1)

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Kenichi Xi
Kenichi Xi
Level 7. Grand Master
Updated on 12 Dec 2019

The short answer:

  1. contact ur broker

  2. today is T day and you need to borrow shares by T+2

  3. can try to ask the broker to waive the fee which is around $75.

  4. to borrow share they might need you to pay by cheque at the counter.

  5. there is no fine from SGX as long as the shares are in before T+3

  6. do not drag this issue

  7. XXXXXX. Please give Time off for this immediate issue.