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.
Pursuant to the amendment of the Civil Law, the Taiwan Stock Exchange (TWSE) will amend the lending rate ceiling for the competitive bidding and negotiated type of Securities Borrowing and Lending (SBL) transactions from 20 percent to 16 percent effective 20 July 2021.
For the competitive bidding of SBL trades, the outstanding loans must be returned by 19 July 2021. For negotiated types of SBL trades conducted through the TWSE and the local brokers, the outstanding loans must be either re-rated or returned by 19 July 2021.
The KSD has revised the Detailed Enforcement Rules for SBL Transactions in an attempt to shorten the restriction period of application for SBL transactions that are put on participants who fail to meet their obligations, effective from 7 April 2021. The changes have been made in consideration of the appropriate period needed for participants to recover and prevent reoccurrence and are summarized in the attached note.
Bursa Malaysia and Securities Commission Malaysia extended the temporary suspension on Intraday Short Selling (IDSS) and intraday short selling by Proprietary Day Traders (PDT Short Sale) to 29 August 2021. In addition, temporary waivers related to PDT will also be extended to 29 August 2021. This does not impact Regulated Short Selling (RSS).
To adhere to the recent amendment of the Civil Law, the Taiwan Stock Exchange (TWSE) will amend the lending rate ceiling for the competitive bidding and negotiated type of Securities Borrowing and Lending (SBL) transactions from twenty percent to sixteen percent effective in July 2021.
The Korea Securities Depository (KSD) announced the launch of a Securities Lending and Borrowing (SLB) trade execution platform to comply with new short sell regulatory requirements. The new platform aims to reduce any errors that may lead to unintentional naked short selling.
The platform will be exclusively limited to local investors initially but will subsequently be available to foreign investors. The launch date of the platform for local brokers will be 8 March 2021.
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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.
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