Bafin shorting ban may be narrower than feared

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The shorting ban announced by the German securities regulator, Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin), may be narrower in scope than many market participants had first thought.

The decree, which shook global markets today, prohibits the naked short selling of eurozone government bonds, credit default swaps (CDSs) on those bonds and 10 German financial stocks. However, according to interpretation of the rules by lawyers, the ban looks to be very limited.

"The rules, at first

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