Monday, December 11, 2023 3:51:59 PM
- either from their inventory
- or using client's shares if those clients allowed their shares to be borrowed.
The fees rate provided is the one applied to the short seller. so about 20% interest per year for anyone borrowing DBMM shares.
Note that each broker could have different interest rate and other fees and specific margin requirements.
If I use Interactive brokers as an example for DBMM (it's one of my broker), they indicate about 4.1M shares available for short selling and a 20.0661% interest rate charged to the borrower.
In case, these shares available at IBKR are owned by a client (client allowing that IBRK borrows them from him to lend to the short sellers), IBKR will repay 50% of the interest to the client.
As an example, I allow IBKR to borrow my shares. And for one of my position, they have been borrowing my shares : they are charging about 54% per year to the short seller and give me back 50% (half so about 27% of the value of the shares they borrowed from me). The amount is calculated daily.
For reference : ticker ALSEN (French small biotech)
For anyone being a IBKR client, you can check availability and interest rates here:
https://www.interactivebrokers.com/en/trading/short-securities-availability.php
copy-paste DBMM info:
Name DIGITAL BRAND MEDIA & MARKET
Number of Lenders with Inventory 2
Symbol @ Exchange DBMM@OTCLNKATS
ISIN Code XXXXXXXH203
Country United States
Quantity Available 4'300'000
Current Fee Rate** 20.0661
**Fee Convention (Others) - reflects the rate charged to the borrower irrespective of the collateral interest rate.
and regarding my example:
Name SENSORION SA
Number of Lenders with Inventory 2
Symbol @ Exchange ALSEN@SBF
ISIN Code FR0012596468
Country France
Quantity Available 45'000
Current Fee Rate** 54.1717
- Some of the less friendly observers have determined that we will abandon our principles and reveal ourselves as shallow cynical exploiters. We must disappoint them... quite simply put, we walk our talk -
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