. . . . "Pr\u00E1zdn\u00FD prodej"@cs . . . . . . . . . . "Pr\u00E1zdn\u00FD prodej (\u010Dasto se pou\u017E\u00EDv\u00E1 i anglick\u00FD term\u00EDn naked short selling nebo naked shorting, v dokumentech EU se pou\u017E\u00EDv\u00E1 nekryt\u00FD kr\u00E1tk\u00FD prodej) je jeden ze zp\u016Fsob\u016F spekulace na pokles ceny n\u011Bjak\u00E9 komodity \u010Di cenn\u00E9ho pap\u00EDru. Investor p\u0159edm\u011Bt spekulace nevlastn\u00ED, ani nezap\u016Fj\u010D\u00ED, ale okam\u017Eit\u011B jej prod\u00E1 t\u0159et\u00ED stran\u011B. Za n\u011Bjak\u00FD \u010Das \u2013 nejpozd\u011Bji v dob\u011B, kdy m\u00E1 p\u0159edm\u011Bt spekulace vydat tomu, komu jej prodal, \u2013 investor nakoup\u00ED nebo vyp\u016Fj\u010D\u00ED na trhu, aby mohl vypo\u0159\u00E1dat obchody. Rozd\u00EDl cen v dob\u011B prodeje t\u0159et\u00ED stran\u011B a v dob\u011B zp\u011Btn\u00E9ho n\u00E1kupu je z\u00E1kladem jeho zisku nebo . V p\u0159\u00EDpad\u011B, \u017Ee cena mezi prodejem a zp\u011Btn\u00FDm n\u00E1kupem v\u00FDrazn\u011Bji poklesla, je spekulace v\u00FDhodn\u00E1; zat\u00EDmco v opa\u010Dn\u00E9m p\u0159\u00EDpad\u011B investor zaznamen\u00E1 ztr\u00E1tu. Pr\u00E1zdn\u00FD prodej proto pou\u017E\u00EDvaj\u00ED obchodn\u00EDci, kte\u0159\u00ED spekuluj\u00ED na pokles cen (tzv. \u201Emedv\u011Bdi\u201C). V n\u011Bkter\u00FDch zem\u00EDch je pr\u00E1zdn\u00FD prodej zak\u00E1z\u00E1n."@cs . . . . . . . . . . . . . . . . . . . . . "Naked short selling"@en . . . . . . . . . . . . . . . . . . . . . . . . . . . . . "Pr\u00E1zdn\u00FD prodej (\u010Dasto se pou\u017E\u00EDv\u00E1 i anglick\u00FD term\u00EDn naked short selling nebo naked shorting, v dokumentech EU se pou\u017E\u00EDv\u00E1 nekryt\u00FD kr\u00E1tk\u00FD prodej) je jeden ze zp\u016Fsob\u016F spekulace na pokles ceny n\u011Bjak\u00E9 komodity \u010Di cenn\u00E9ho pap\u00EDru. Investor p\u0159edm\u011Bt spekulace nevlastn\u00ED, ani nezap\u016Fj\u010D\u00ED, ale okam\u017Eit\u011B jej prod\u00E1 t\u0159et\u00ED stran\u011B. Za n\u011Bjak\u00FD \u010Das \u2013 nejpozd\u011Bji v dob\u011B, kdy m\u00E1 p\u0159edm\u011Bt spekulace vydat tomu, komu jej prodal, \u2013 investor nakoup\u00ED nebo vyp\u016Fj\u010D\u00ED na trhu, aby mohl vypo\u0159\u00E1dat obchody. Rozd\u00EDl cen v dob\u011B prodeje t\u0159et\u00ED stran\u011B a v dob\u011B zp\u011Btn\u00E9ho n\u00E1kupu je z\u00E1kladem jeho zisku nebo . V p\u0159\u00EDpad\u011B, \u017Ee cena mezi prodejem a zp\u011Btn\u00FDm n\u00E1kupem v\u00FDrazn\u011Bji poklesla, je spekulace v\u00FDhodn\u00E1; zat\u00EDmco v opa\u010Dn\u00E9m p\u0159\u00EDpad\u011B investor zaznamen\u00E1 ztr\u00E1tu. Pr\u00E1zdn\u00FD prodej proto pou\u017E\u00EDvaj\u00ED obchodn\u00EDci, kte\u0159\u00ED spekuluj\u00ED na pokles cen (tzv. \u201Emedv\u011Bdi\u201C)"@cs . . . . . . "1115428220"^^ . . . . "Naked short selling, or naked shorting, is the practice of short-selling a tradable asset of any kind without first borrowing the asset from someone else or ensuring that it can be borrowed. When the seller does not obtain the asset and deliver it to the buyer within the required time frame, the result is known as a \"failure to deliver\" (FTD). The transaction generally remains open until the asset is acquired and delivered by the seller, or the seller's broker settles the trade on their behalf."@en . . . . . . . . . . . . . . . . . . . . . "3898531"^^ . . . . . . . . . . . "Naked short selling, or naked shorting, is the practice of short-selling a tradable asset of any kind without first borrowing the asset from someone else or ensuring that it can be borrowed. When the seller does not obtain the asset and deliver it to the buyer within the required time frame, the result is known as a \"failure to deliver\" (FTD). The transaction generally remains open until the asset is acquired and delivered by the seller, or the seller's broker settles the trade on their behalf. Short selling is used to take advantage of perceived arbitrage opportunities or to anticipate a price fall, but exposes the seller to the risk of a price rise. The oldest documented example of a naked short in securities trading appears to be a 1609 maneuver against the Dutch East India Company by the Dutch trader Isaac Le Maire. Critics have advocated for stricter regulations against naked short selling. In 2005 in the United States, \"Regulation SHO\" was enacted, requiring that broker-dealers have grounds to believe that shares will be available for a given stock transaction, and requiring that delivery take place within a limited time period. In 2008, the SEC banned what it called \"abusive naked short selling\" in the United States, as well as some other jurisdictions, as a method of driving down share prices. Failing to deliver shares is legal under certain circumstances, and naked short selling is not per se illegal. In the United States, naked short selling is covered by various SEC regulations which prohibit the practice. In August 2008, the SEC issued a temporary order restricting short-selling in the shares of 19 financial firms deemed systemically important, by reinforcing the penalties for failing to deliver the shares in time. Effective September 18, amid claims that aggressive short selling had played a role in the failure of financial giant Lehman Brothers, the SEC extended and expanded the rules to remove exceptions and to cover all companies, including market makers. A 2014 study by researchers at the University at Buffalo, published in the Journal of Financial Economics, found no evidence that failure to deliver stock \"caused price distortions or the failure of financial firms during the 2008 financial crisis\" and that \"greater FTDs lead to higher liquidity and pricing efficiency, and their impact is similar to our estimate of delivered short sales\". Some commentators have contended that despite regulations, naked shorting is widespread and that the SEC regulations are poorly enforced. Its critics have contended that the practice is susceptible to abuse, can be damaging to targeted companies struggling to raise capital, and has led to numerous bankruptcies. However, other commentators have said that the naked shorting issue is a \"devil theory\", not a bona fide market issue and a waste of regulatory resources."@en . . . . . . . . . . . . . . . . . . . . . . . . . . "67025"^^ .