IB surcharge for borrowing certain stocks.

Has anyone solved the problem of being short stock at IB and not seeing the breakout of extra charges (if any) until 4 weeks AFTER the month closes?

Apparently these charges are not posted to the daily reports, only the monthly report, and by then it's too late to factor in that cost of carrying the trade.

 

Sorry, I should have put IB Sux in the headline, would have attracted a better class of reader.

 

Thanks for all the useful feedback. Don't know what I'd do without ET

 

next time title it 'ADCP is ready to explode'

 

if u want to be ignored, open a helpdesk ticket with IB

 

I've made the suggestion on IB's poll in the past that borrowing costs need to be more transparent.... I guess that suggestion sitll remains valid today.

 

Most brokerages tell you even before borrowing the stock the extra interest per annum that will be charged based on how diffiucult it is to find shortable shares thereby giving you the option to borrow or not.

 

Well, seems mighty odd that this information isn't transparent

It has rarely affected me, but how is one to manage a position properly when you can't determine the cost of carry?

Something should be done about this.