IB Forced Buy Ins on short sales?

Discussion in 'Retail Brokers' started by dancalio, Dec 19, 2008.

  1. dancalio

    dancalio

    I get these notices with more than half the stocks I short at IB.

    I got a notice today, then I looked at the IB shortable shares list and they show they have more than 350,000 shares available. The stock still has the shortable light green indicator.

    Is this so frequent at other brokers? Despite IB being good otherwise, this is enough to make one switch.
     
  2. Yes this is how it has been since Oct, and dont expect it to get better. Clearing firms need to locate all settled shorts, I dont know what they were doing before but since the change in Oct, buyins are becoming more frequent.
     
  3. yes its made shorting overnight much more risky. also getting letters from clearing houses charging interest on all shorts now due to fed lowering rates to zero