Are all Props charging "Negitive Rebate Fee" for overnight Shorts

Discussion in 'Prop Firms' started by NKNY, Feb 20, 2011.

  1. NKNY


    HI Guys,

    Curious if other traders at props these days, specifically Echo and Bright are being charged a "negative rebate" on all shorts held overnight (even if they are not hard to borrow) because the fed funds rates are near zero... More specificly how mucg are they being charged..

    I can understand a fee being charged but I just discovered I am being charged $3.00 dollars a day per each stock held overnight which to me seems like way too much to me... This can add up if your holding 15 to 20 shorts for ten days at a clip the entire year.

    From what I understand once the fed funds rates raises above zero this fee will not be applied anymore...

    Just trying to determine if this 3.00 fee is an industry standard across the board or just a cbsx member thing and does this also happen in a retail environment as well..

    Any Feedback will be appreciated...