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Rolet slates ban on short selling

XAVIER Rolet, the chief executive of the London Stock Exchange, has slammed Germany’s ban on naked short-selling as “mistaken” and “counterproductive”.

Rolet told Italian business daily newspaper Il Sole 24 Ore that the German move is “a mistaken decision that risks having an effect which is the opposite of what is desired”.

“I would in fact suggest eliminating the ban and then constructing a market infrastructure that helps investors,” he added. “Markets are global: you can’t think of acting unilaterally because it would be counterproductive.”

The LSE took over Milan stock exchange Borsa Italiana in 2007.