NYSE President Calls Short Sellers ‘Icky’
- NYSE President Farley joins Nasdaq in calling for transparency
- Rules require investors to disclose long positions, not shorts
Pedestrians are reflected in a puddle while passing in front of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
The head of the New York Stock Exchange said short sellers should be forced to reveal more about what they’re doing.
“It feels kind of icky and un-American, betting against a company,” NYSE Group President Tom Farley told lawmakers in Washington Tuesday. He added that because short-selling can actually improve markets, public companies don’t necessarily want to ban it outright -- instead they want to see more stringent disclosure. “They say, ‘Let’s have a little more transparency,”’ said Farley, who runs the NYSE division of Intercontinental Exchange Inc.