A daily borrow fee may be charged for shares borrowed on any short position held overnight.
When Fees Apply
Fees start the day the short sale settles.
Fees stop when your buy‑to‑cover trade settles.
How the Daily Fee Is Calculated
Base charge:
Previous day’s closing price × 1.02% (rounded up to the nearest dollar)
Daily fee:
(Base charge × number of shares × daily market rate) ÷ 360
Important Notes:
The market rate changes daily.
Fees are charged each day the short position is open.