ADVOKS GLOBAL · KENYA
The Capital Markets (Securities Lending, Borrowing and Short-selling) Regulations
15. Requirements for short-selling
Edition: 2022-12-31 · In force
15. Requirements for short-selling
(1)A seller who engages in a short-selling transaction shall, when submitting an order, declare to the exchange or, if acting through a market intermediary, to that intermediary, that it is a short sale.(2)Each short sale shall be carried Out in the same trading environment as normal purchases or sales of securities.(3)A securities exchange or a trading platform shall, for the purposes of facilitating short-selling transactions, formulate rules to provide for buying in.(4)Despite the generality of subregulation (3), each short sale of securities shall be identified as a short sale by the selling broker under the rules of the exchanges or trading platforms contemplated in subregulation (3).(5)For the purposes of this regulation, "buying in" means the buying of securities effected by a securities exchange which a seller has failed to deliver on the day fixed for settlement.