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Non-Tech : Shorting with Offshore Accounts
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To: Daniel Chisholm who wrote (54)2/17/1999 11:14:00 AM
From: Bear Down  Read Replies (3) of 127
 
You are correct about it being a very small amount, but interest none the less. I always thought I got away without paying any until I went back and looked at the costs. Typically my broker will adjust the commission on the shortsell side to reflect interest. For example if I short AOL today the commision will read $20, If I don;'t cover for a week and go back and look at the original SS execution, it might say $20.45. and my proceeds will be reduced by 45 cents. That is how it works for me. Now whether these shares are from in house or borrowed out, I am clueless and really don't care. The fact is unless it is a BB or other unlisted security, there is an interest payment to be made. For all those who don't think they pay interest, go back and look at some of your past executions and see if the numbers jive
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