On 8 October, ASIC issued a new legislative instrument, ASIC Corporations (Short Selling) Instrument 2018/745, that provides various relief and modifications to the laws in relation to short selling, and continues the effect of other ASIC instruments that were due to expire.

ASIC has also updated its existing guidance in Regulatory Guide 196 Short selling to reflect the legislative instrument.

ASIC states the new relief and modifications are summarised as follows and cover:

  • legislative relief for ETF market makers;
  • deferred settlement trading;
  • initial public offering (IPO) sell downs; and
  • an option for global firms to calculate their short positions as at a global end calendar time.