PASLA was incorporated in Hong Kong in 1995 and is an association of firms that are active in the business of borrowing and/or lending securities in Asian markets.
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PASLA provides a collective voice and an industry consensus on issues that affect the development of the securities lending business.
PASLA works with regional regulators and exchanges to assist in the further development of the securities lending business.
The Stock Exchange of Thailand (SET) and the Thailand Futures Exchange (TFEX) have extended the effective period of the revised regulations regarding short selling rules, ceiling & floor, and the daily price limit of the derivatives contracts until 30 September 2020 due to the COVID-19 pandemic and related uncertainty.
The Securities Commission Malaysia (SC) and Bursa Malaysia Berhad (Bursa Malaysia) have decided to further extend the temporary suspension of short selling until the 31 December 2020.
There will not be any change to the scope of the suspension, in that it applies to Intraday Short Selling (IDSS) and Regulated Short Selling (RSS) as well as intraday short selling by proprietary day traders whilst Permitted Short Selling (PSS) is not affected. The temporary suspension, which began on 24 March 2020, had already been extended on 28 April 2020 and was originally scheduled to expire on 30 June 2020.
The temporary measures, tightened uptick rule and daily short-selling volume control will all be lifted effective 10 June 2020.
The daily short selling volume control will return to the original 30 percent of the average trading volume of the underlying stock during the previous 30 business days.
The uptick rule will be restored to the original 10 percent level, where a stock cannot be short sold below the closing price of the previous day when the stock shows a decline of 10 percent or more in the previous trading day.
Dear PASLA members,
We are pleased to announce that a new market user guide is now available covering the current state of 14 regional securities lending markets.
The guide was created, in conjunction with the RMA and Equilend, to provide a resource for all interested market participants on the different regulatory regimes across our region. With so many varying considerations on accessing and trading these markets, we wanted to collate as much information as possible into a single document that will hopefully serve as a useful reference for current market participants as well as for new entrants to the industry.
Please feel free to disseminate internally or externally where you think it can be productively utilized or serve as an educational piece.
We would like to thank the PASLA securities lending experts who helped to contribute to the guide and we look forward to updating it on a regular basis.
Securities Commission (SC) and Bursa Malaysia (Bursa) are extending the temporary short selling suspension from 30 April 2020 to 30 June 2020. This temporary suspension involves intraday short-selling (IDSS) and restricted short-selling (RSS) but does not apply to permitted short-selling (PSS).
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Membership is open to any organisation that is a regular borrower or lender of securities or regularly enters into repo transactions. The Board may decide to confer honorary member status on institutions that do not meet this definition.
Membership includes access to country profiles, summaries of Executive Committee meetings, country updates and much more.