How are overnight borrow rates calculated?

The cost to borrow located shares overnight will be at a market rate which changes daily based on market conditions.

Your client portal has an overnight borrow calculator which will provide an estimate for borrow costs related to any shares you would hold short overnight.

If any account receives a Reg SHO notice, the shares receiving the notice, no matter whether a fee was paid, will need to be liquidated as per Reg SHO notice.