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Market Structure
T+2 Settlement
Definition
The ASX settles cash-equity trades two business days after execution. The buyer receives shares and the seller receives cash on T+2. Short sellers must deliver borrowed shares by T+2 to avoid a fail-to-deliver.
Related Terms
T+4 Delay
ASIC publishes short position data with a four trading day delay. For example, Monday's short positions are published on Friday. This delay is built into the reporting system.
Fail to Deliver
A trade that does not settle on T+2 because the seller cannot deliver shares. Persistent fails can indicate naked short selling. The ASX publishes fail statistics and ASIC investigates suspected naked short cases.
See short selling in action
Explore real-time ASIC short position data for ASX stocks.