You are here: Report Reference > Default Statement > Non-Direct Hard to Borrow Details

Non-Direct Hard to Borrow Details

Customers who short stock pay a fee. This section of the Activity Statement displays daily shorted stocks and the associated borrow rates and fees. It is enabled by request.

Note: This section appears in the Default Statement and Legacy Full Default Statement.

Field Descriptions

The data is grouped by currency.

Column Description
Value Date The date used to determine the hard to borrow details.
Symbol The symbol of the short stock position.
Quantity The number of units of the short stock position.
Price

The adjusted closing price of the short stock position.

In determining the cash deposit required to collateralize a stock borrow position, the general industry convention is to require a deposit equal to 102% of the prior day's settlement price, rounded up to the nearest whole dollar and then multiplied time the number of shared borrowed. As borrow rates are determined based on the value of the loan collateral, this convention impacts the cost of maintaining the short position, with the impact being most significant in the case of low-priced and hard-to-borrow shares. For an example of this adjusted price, see the related Knowledgebase article.

The value in this column is the rate that is determined after Interactive Brokers applies the 102% markup and rounding.

Value Price x Quantity.
Fee Rate (%) The borrow fee rate for the short stock position.
Borrow Fee (Value x Fee Rate)/360.
Code The code abbreviation.

 

Totals

Total amounts for the following fields appear at the bottom of each currency section: