TRX Gold Ord Shs T.TRX

it is very simple to do

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Australian Exchange to Abolish `Naked' Short Selling (Update1)

By Jacob Greber

Sept. 19 (Bloomberg) -- The Australian Securities Exchange said it will abolish so-called ``naked'' short selling from the start of next week.

The change will be reviewed when the government amends laws related to the reporting of ``covered'' short selling, the Sydney-based ASX said in an e-mailed statement today. The exchange will still allow ``covered'' short selling.

The move comes after the U.S. Securities and Exchange Commission halted short selling of financial companies in a bid to stymie speculators seeking to benefit from the credit crisis that led to the collapse of Lehman Brothers Holdings Inc. and American International Group Inc.

Short sellers try to profit by betting stock prices will fall. In a short sale, traders borrow shares from their broker that they then sell. If the price drops, they buy back the stock, return it to their broker and pocket the difference.

In ``naked'' short selling, traders never borrow the shares, raising concerns that investors are flooding markets with sell orders to drive down prices.

btw--if Canada does the same and tnx remains weak--it will put a whole new slant on things wont it--

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