In 2008, Tricom was the first Australian broking house in many years to fail to settle its trades with the ASX

ASX

ASX may refer to:* Australian Securities Exchange, the primary stock exchange of Australia* Advanced Stream Redirector, a computer file format listing Windows Media files * Armstrong Siddeley ASX, a British experimental turbojet* John F...

. Controversially, it held ownership of shares that its borrowers had used margin loans to purchase until the loan was repaid. Tricom would then lend those shares to other traders so that they could be sold, as a form of short selling

Short selling

In finance, short selling is the practice of selling assets, usually securities, that have been borrowed from a third party with the intention of buying identical assets back at a later date to return to that third party...

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