Thursday, February 04, 2010
From 1st June 2010, ASIC requires reporting of short sell position information. IRESS has implemented a dedicated IOS Plus server to allow clients to electronically report short sell positions to ASIC.
From 1st June 2010, ASIC requires reporting of short sell position information.
IRESS has implemented a dedicated IOS Plus server to allow clients to electronically report short sell positions to ASIC from within IOS Plus. This establishes a two-way connection: IOS Plus updates the status of reports when receipt is confirmed by ASIC.
IRESS will manage the dedicated ASIC IOS Plus server, and will provide a username, account and destination access for clients who want to report short sell positions directly from IOS Plus.
This functionality is implemented in the new Short Sell Reporting command, available in IOS Plus front-end version 4.06. This version is scheduled for release in February 2010.
The new short position reporting requirements were released by The Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen MP on 2 October 2009.
For further information about the IRESS offering for ASIC short sell reporting requirements, please contact your account executive.