المدربAn uptick rule restricts the prices at which a short sale may be entered: typically not below the last traded price, or not below it once the share has fallen by a given amount during the day.
أمثلة
Example 12.13 (Seventeen months without short selling)
In November 2023 the Korean authorities banned short selling of all listed shares, citing naked short sales by global banks. The ban ended on 31 March 2025, when short selling resumed for every listed share together with a new electronic system for detecting naked short sales. For seventeen months no long–short equity strategy could be run onshore in one of the world’s larger markets; index arbitrage, convertible-bond hedging and market making in single-stock derivatives were all impaired at once. Regulatory risk of this kind is a parameter of the market, like volatility.