Covered Short Sale definition

Covered Short Sale means the sale of Financial Products where, at the time that you place a sell order, you have entered into a securities lending arrangement with respect to the delivery of the Financial Products that are the subject of that sell order.

Covered Short Sale means a sale of Cash Market Products where you have borrowed the relevant Cash Market Products and you have, at the time you place the order, a presently exercisable and unconditional right to vest those Cash Market Products in the buyer.

Covered Short Sale means a sale where at the time of sale the seller has the right to vest the products being sold in the buyer because they have entered into a securities lending arrangement.

Examples of Covered Short Sale in a sentence

• For the avoidance of doubt, you may place an order if the sale would be a Covered Short Sale that is not prohibited by the Corporations Act.

• You direct IBA to pay to itself by way of absolute transfer of title for its own benefit all proceeds from your Covered Short Sale to meet your obligation to pay the Collateral Amount.

• You represent and warrant to IBA that an order for the purposes of clause 6.1(c)(ii) is a Covered Short Sale for the purposes of section 1020AB of the Corporations Act 2001 (Cth).

• On the settlement date, IBA will lend to you and you will borrow the Shares the subject of the Stock Loan ("Borrowed Stock") required to settle your obligations under the Covered Short Sale.

• You acknowledge that you purchase such Equivalent Securities at the current market value(s) of such Shares which may be (considerably) different from the price you achieved for the sale of the Shares for in the original Covered Short Sale.

More Definitions of Covered Short Sale

Covered Short Sale means a sale where You have, at the time You place the sell Order, a legally binding commitment from a securities lender to lend the securities to You. Options means equity exchange traded options (ETOs), index ETOs, low exercise price options (LEPOs) and ASX Derivative Products Electronic Trading Facilities means a facility by which a person places an Order using a computer interface and which Order is routed through the Validation Rules.

Covered Short Sale means a Short Sale where the Client has borrowed the relevant Products and the Client has, at the time the Client places the Order, a presently exercisable and unconditional right to vest those Products in the buyer.

Covered Short Sale means a short sale supported by a securities lending arrangement which give the borrower presently exercisable right to vest the securities to the buyer at the time of sale.

Covered Short Sale means a sale of Cash Market Products where you have borrowed the relevant Cash Market Products and you have, at the time you place the order, a presently exercisable and unconditional

Covered Short Sale means a short sale supported by a securities lending arrangement which give the borrower presently exercisable right to vest the securities to the buyer at the time of sale. Crossing means a trade where a Trading Participant is acting for both the buyer and the seller for one transaction or acting for its client as the buyer or seller and as principal as the seller or buyer. Default means an event of default by you which will automatically terminate the Agreement in absence of your intention. Financial Product has the meaning set out in sections 763A and 764A of the Corporations Act. GST means any goods and services tax, consumption tax, value-added tax or any similar impost or duty which is or may be levied or become payable under any GST Law in connection with the supply of goods or services.

Covered Short Sale means a Short Sale to which sub section 1020B(4)(d) of the Corporations Act applies.

Covered Short Sale means a transaction where a person executes a short sale and relies on an existing securities lending arrangement to have a presently exercisable and unconditional right to vest the securities in the buyer at the time of the sale;