Which firms have the largest short list (hard to borrow), especially for NASDAQ stocks? If its easy for you to post how many stocks there are in your firm's short list, that would be great too, so we can quantify it, rather than just "firm ABC's short list is the best". Also, which firms have software that makes it real easy to locate stock on the list and go short (electronic instead of having to phone in to check) and how does the software facilitate that
I don't think the size of the list means much, since some firms will post preferreds and other weird things that nobody trades, while others will post common only. How about posting if your firm has some of the perennial toughies, like: KKD GM NFLX BIDU TASR MSO Feel free to add more toughies to the list - they're not my thing normally. IB has GM.
Good point, good idea and good starting point for the list... i couldnt find any of these on Genesis's or RML's short lists. Does that mean that it is impossible to short them at these firms or is there a way to "locate" them via some software feature. Theres a few Genesis traders around here, maybe they can give us an idea if they can still short them through a special software feature in Laser, even though they're not on the regular Genesis short list. If a stock is not on the short list of a firm, does that mean it is IMPOSSIBLE to short it or does it mean its a bit difficult and will require a bit more effort to locate it, but it CAN be done? can you call in and they try to find it for you?
Do you have access to GS Prime Brokerage? If so, can you please confirm to us if they specifically have all the 6 above-mentioned stocks? How much capital do i need to get into GS Prime and if i dont have that capital what are the other ways i can access it?
i've been with a few major prop firms and msot of there short lists suck bad. ib with its huge retail base has a much better short list than almost any prop house. but the prop house will locate you hard to borrow for a big fee
I would suggest you open an account through Carlin Financial Group who clears GS. GS Prime would require 1MM Capital to gain access, 500K if you are introduced through a larger customer. Try Madison Trading who as far as I know still is a SUB LLC of Carlin.
Thanks to all posters. Can you tell us which firms you were with, and what types of stocks you couldnt find on their shortlists? Also when they would locate something for you, did u have to call in or was it electronic through the software, how long did it take, and how much did it cost? Lets look at this from the perspective of someone who wants to short a basket of say, 20 or 30 stocks a day.
"If a stock is not on the short list of a firm, does that mean it is IMPOSSIBLE to short it " Not at all... usually a phone call and a 'locate' is possible. At least, at the prop firms I know.
If i open with Carlin, would i get the exact same short list coverage as someone who has a GS prime account? Would opening an account with Bright, which clears through GS too, give me access to the same shortlist as GS Prime? Any others that would give me access to GS shortlist?