Just checked with Scott Trade about loaning stock
Post# of 43064
Posted On: 10/13/2015 10:43:50 AM
Just checked with Scott Trade about loaning stock have one other co plus PTOI with guite a few shares and both being shorted ..
Relpy
Thank you for your message!
Scottrade only lends the securities in margin accounts. Since your account is on a cash basis, we would not be loaning your shares to be sold short. The term for this in the industry is referred to as hypothecation. This is the practice of a borrower pledging assets as collateral for their margin loan, while still keeping ownership of the assets. Since you have not signed a margin agreement, we will not be hypothecating your holdings.
Relpy
Thank you for your message!
Scottrade only lends the securities in margin accounts. Since your account is on a cash basis, we would not be loaning your shares to be sold short. The term for this in the industry is referred to as hypothecation. This is the practice of a borrower pledging assets as collateral for their margin loan, while still keeping ownership of the assets. Since you have not signed a margin agreement, we will not be hypothecating your holdings.
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