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ISIN? Exchange?

Do you have a ticker for SNP?

Happy to email you one. But a short can be closed (or recalled) by the lender at any point right? So what is the point of paying anyone a locate fee when at risk of handing shares back the next day?

IB does not charge a locate fee to my understanding, premium or otherwise. What is your fee in such situations?

Thanks def, 2 questions please: 1) are you saying that trying to short a stock on TWS with 0 borrow available give the SLB team a nudge to act? 2) Does IB ever act as the short counterparty? Do we ever bet agains the house sort of speak or does the SLB team alway borrow from the street? I am...

So it's an RfQ system by the looks of it. If so, why not open it to other counter-parties to source the best pricing and/or deepest liquidity for your clients?

Thanks def, Can you kindly develop on what pre-borrow is? I am not familiar with the concept. And Velocity seems to have offered Lightspeed and the likes an RfQ functionality. I know IB has been doing a lot in the bond space recently with regards to RfQ, what are the chances you start offering...

Any suggestions?

I may open an account with you just for that... but then again, i am not a US resident.

Happy to close (or be forced to close) the position 2 days later. Would it even be possible to enter a short sale without shares being readily available to borrow?

It's all about the cost of funding. A bank rated AAA can fund you for much less than IB if you can establish a prime brokerage relationship with them. As for the tiny boutiques out there....no chance they can compete. Full stop.

Don't hold you breath for a reply in CAPS LOCK :)

Possibly, but we are all talking about the same 2.63% charged when borrowing $1m from IB Pro: https://www.interactivebrokers.com/en/index.php?f=1595 We can start by comparing apples to apples...

Why not straight forward US equities then? (and how could your cost of funding be cheaper than IB?)

So you want blood...not my game. Will stay out. I actually like the Def guy.

i wouldn't - he has interesting thoughts. It's just a matter of redirecting his enthusiasm to his own (and our) benefit.

I am obviously not as confrontational as you are - and am not disputing anything you assert (neither condemn nor approve). But I am driven by actionable solutions as a trader. And my contribution here is to spin the conversation in that direction. I remember clearly in the MF Global liquidation...

So I don't get it - you have identified an operational risk that you are uncomfortable with. Fine! Stay clear of stock lending. Even better, nominate someone else on your account to double your FDIC coverage (i.e. joint account). What is the point of all this ranting? @def is here to help (he...

Just my 2 cents here. @def is doing his best. I can attest this first hand. He is exceptionally helpful. We are stretching him by asking him highly specific regulatory questions. Now I too would like specific IF THEN answers but fear that this is not straightforward. Last, we can keep this...

No need. IB will always rebase to your account's base currency.