July 6, 2020 / 6:34 AM / a month ago

Istanbul exchange applies short selling ban on six institutions

FILE PHOTO: Traders work at their desks on the floor of the Borsa Istanbul in Istanbul, Turkey October 13, 2017. REUTERS/Murad Sezer/File Photo

ISTANBUL (Reuters) - Turkey’s Borsa Istanbul said on Monday that it had applied a temporary short selling ban on six foreign financial institutions because they failed to notify authorities about short selling transactions last week.

The stock exchange said Barclays Capital, Credit Suisse Securities and Merrill Lynch will be banned from short selling for three months.

Goldman Sachs, J.P. Morgan and Wood and Company Financial Services will be banned from short selling in the stock market for one month, the stock exchange said.

The Turkish Capital Markets Board lifted a ban on short selling for the top 30 shares on the Istanbul stock exchange last week.

Reporting by Ebru Tuncay; Writing by Ezgi Erkoyun; Editing by Dominic Evans

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