Data Explorers Analysis of Short Interest in Germany

New York and London -- 19 May 2010: Data Explorers, the leading global provider of securities financing data and daily long and short institutional fund flow insight, has analysed change in short interest across the German common equity market and the 10 names that have been the subject of the naked short selling ban. Key takeaways:
 
·         The German ban is on naked (i.e. no borrow) short selling on 10 financial names.  There is also a ban on buying CDS coverage for government bonds that are not owned.
·         Data Explorers content, which does not include naked short selling, shows that the short interest (as measured by percent shares outstanding on loan) in the ten names stocks has been trending down since Feb 2010 while the larger German market has seen a gradual increase.
·         Out of the ten names that are subject to the naked short selling ban, most have low short interest (less than 2% shares outstanding on loan) with only Commerzbank has seen relatively high levels of short interest (c. 6%) over the past year and a half.
 
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