Charmaine Lim Xiaomei

12 Dec 2019

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General Investing

What happens after an accidental short sell?

Just realised that I sold more shares (just 100 more) than I had 😢

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?

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Kenichi Xi

12 Dec 2019

nᴉʍ oʇ dǝnᴉʇsǝd 不能说的秘密 at Tag Team with Gabriel Tham

The short answer:

contact ur broker
today is T day and you need to borrow shares by T+2
can try to ask the broker to waive the fee which is around $75.
to borrow share they might need you to pay by cheque at the counter.
there is no fine from SGX as long as the shares are in before T+3
do not drag this issue
XXXXXX. Please give Time off for this immediate issue.

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What will happen to short seller in the case where EHT suspended the counter, and shorted stocks is not covered yet?

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