Looking for broker with borrows for OTCBB/PINK

Discussion in 'Retail Brokers' started by otcstockfund, May 11, 2011.

  1. Got accts at IB and 2 penson brokers, penson never has any and IB rarely does when i want them, anyone know of any brokers that have good borrows on OTCBB/PINK
  2. rmorse

    rmorse Sponsor

    Did you get my e-mail about third party locates? This is the best way to get it.
  3. I am also curious about getting borrows for OTCBB/PINK Sheet stocks. If you could let me know as well, I would appreciate it.
  4. Barbaris


    I join the question. Could you tell me more about borrowing from third party locates.
  5. rmorse

    rmorse Sponsor


    Your prime broker has to allow third party locates. They charge a premium for a day trader to receive this locate. They charge a much higher fee for over night borrows. In most cases, this is the only way traders can short these stocks. It is a business decision as to if the cost is worth it.

    If anyone would like a contact over there, e-mail me your contact information, where you clear your trades, and I'll forward that information to my contact there.

  6. mews


    I don't believe its a requirement for a clearing firm to receive third party locates, its in their discretion. Many won't accept delivery from outside sources, locatestock or others.
  7. rmorse

    rmorse Sponsor

    Sorry, I did not intend to make a statement.Correct. That's why they would have to ask their Prime Broker. I was saying to use the service, the Prime would have to allow it.