スペインの証券取引委員会(CNMV)は、株式の空売り、短期売買?の禁止を継続
La CNMV prorroga otros tres meses más el veto a las apuestas bajistas en Bolsa
El supervisor argumenta que la reestructuración bancaria aún no ha terminado
El País Madrid 19 OCT 2012 - 19:37 CET
The CNMV extended another three months veto bearish bets on the stock market
The supervisor argued that bank restructuring is not over
The Country Madrid 19 OCT 2012 - 19:37 CET
The first decision of Elvira Rodriguez as head of the National Securities Market Commission (CNMV) has extended the ban on bearish bets on shares listed on the Spanish stock market. The extension is executed in two phases: first, will run until October 31 the measure which came into force on July 23, and thereafter, and due to new European regulations on short positions, the supervisor will notify the CNMV Community ESMA for its acronym in English, his request to extend the restriction for a period of three months. "This measure could be lifted without exhausting the deadline if circumstances permitted," he qualifies the statement.
The CNMV argues that this decision because of the situation "exceptional" that crosses the Spanish financial system. "The bank restructuring process is not yet finalized, generating a number of uncertainties about whether the financial system that could affect financial stability," said the supervisor. In this reply, the body chaired by Rodriguez believes that lifting the ban on short operations "add uncertainty over its likely impact on the market."
Listed companies have lobbied in recent weeks to keep the veto CNMV. Raise this measure would have hurt especially Banco Popular, immersed in a capital input key to avoiding the state as a shareholder. The extension, however, is detrimental to the stock exchange and securities firms and draining liquidity and trading volume.
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