hi all - I'm currently with Tradestation but their HB (hard to borrow) list is the worst I've seen for a long time - around 2.5k symbols which are easy to short. For the ones that aren't shortable you have to electronically submit an application to short. This might work on medium to long term trades but sucks for smaller timeframes. So the question is which broker to consider moving to? I'm inclined towards Lightspeed or IB - I know IB has a good healthy list of shortable sticks and only around 100 aren't shortable. Any suggestions? Cheers, Splat
We have two ways to get a locate. On the Lightspeed Trading platform, you can see which symbols are not on the easy to borrow list. You send a simple email to support and they respond. I advise most of my clients to send in the list earlier in the day for the Stocks that they know they trade every day that are not on the easy to borrow list. If we can't get you a locate, we have a relationship with a firm that offers third party locates for a fee. Our locates are free for day trading with the third party locates you pay if you use it or not, after you accept the locate.
I have no idea. What we have is an easy to borrow list, not a hard to borrow list. If it's not you on the list we have to ask Wedbush for a locate. We have a lot of automated and manual equity traders and I get very few complaints. The third party locates solved any locate issues. Keep in mind that every clearing broker on the street deals with each other. Stock lending is a big business. The easy to borrow list does not change much from firm to firm.
I can't comment about Lightspeed but the IB HB list is here: https://www.interactivebrokers.com/...tableStocks.php?cntry=regSHO&tag=Reg& That implies the remainder are easy to borrow? Tradestation only has 2.5k on its easy to short/borrrow list which flies against what you say 'The easy to borrow list does not change much from firm to firm.'