WHERE CAN YOU FIND IT
On the trading pages on portal, navigate to Operations > Borrow Locate.
HOW DOES IT WORK
The user needs to search for the relevant instrument for which they would like to request borrow. This is done by entering the instrument code and selecting Search. The user can choose to display the top 10, 20, 50, 100, etc results.
Once the relevant instrument has been selected, the user can enter the relevant quantity for which they would like to request borrow. Thereafter, the user can Submit the request.
EXAMPLE
A client would like to request borrow for 100 AAPL US. The client will enter AAPL US in the search bar and select the Top 10 Matches.
The user then selects AAPL US and enters 100 in the quantity field. Thereafter the user submits.
The client will see the requested information along with the requested timestamp.
The client can then use the Refresh button to refresh the data to see if there has been a response on whether or not the borrow quantity has been approved.
If the request is approved:
The user will see a “Approved” response from Peresec, along with the relevant rate to be charged.
If the request is rejected:
The user will see a “Rejected” response from Peresec.
Notes:
1) Borrow is only available for the day of the request. If trades are not executed on the day of the request, a new borrow will have to be obtained.
2) Borrow is only applicable for CFD’s/Swaps (provided an ISDA is signed) and not cash equity. Cash equity shorts are only available to those clients that have signed a GMSLA with Peresec.