short sale against the box

A short sale of a security by a seller who owns enough shares of the security to cover the sale but borrows shares anyway because the seller wants to keep ownership a secret or because the owned shares are not easily accessible.

• Delivery may be made with either the owned or the borrowed shares, so it is less risky than an ordinary short sale. The phrase against the box refers to the owned shares that are in safekeeping; formerly, the “box” was a container used to store stock certificates. — Often shortened to sale against the box.

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词条贡献者

资深译员姚坚，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，专注翻译各种与私募资本有关的法律文件。