What are short locate fees?

Short locate fees are charges incurred to secure the ability to short stocks that are not classified as easy-to-borrow. These fees are quoted on a per-share basis, and the rate depends on the borrowing difficulty for that stock on a given day.

Fees may fluctuate throughout the day based on market conditions and are only applied once you accept the quoted locate price. If the locate request is declined, no fee will be charged.