Anavex Life Sciences Corp (AVXL)

[wildcard235]

Yes, it is an annualized fee rate to borrow shares, determined by demand for shares to short vs the available supply. Interactive Brokers was created by brokers for brokers, although they welcome individuals and investment advisors and managers (min $10K in cash or investment assets to open an account, I think). IB probably has more connections and data access than any other organization. Most brokerages like Fidelity, Schwab, etc, use IB to some extent. Some investment firms like hedge funds and mutual funds use IB exclusively for trading. If you lend shares of a stock in an IB account, they split the fees with the account 50-50. So in your example, if the fee rate is 90.69%, they would pay you half that. Well, almost, there are some adjustments before the split is made that brings it down slightly.