Short Locates

Short locates and borrow rates are now built into Clear Street’s order flow on web (including omni), mobile, TradingView,  API, and FIX . When you submit a short sale order on a stock that requires a locate, Clear Street requests it on your behalf and releases the order once it’s approved. You see an indicative borrow rate before you send the order. Learn more.

API Documentation

How Locates Work

What you can do

• Short approximately 5,000 more stocks. Names requiring locates are now available on Clear Street, expanding your shortable universe from roughly 6,000 to roughly 11,000
• Short a stock that requires a locate from the order ticket, with the locate handled for you
• See an indicative borrow rate before you send the order
• Place short orders that need a locate in pre-market, regular and after-hours sessions
• Review existing locates through the API, and pull indicative borrow rates for up to 1000 symbols per call

How to short a stock that requires a locate

1. Fill out an order ticket. The pre-trade check shows the order will open a short, with the indicative borrow rate.
2. Send the order. Clear Street requests the locate. If the full quantity is secured, the order is released. If not, the order is rejected.

Good to know

• Locates are account-specific and expire at 8 PM ET, so they apply to day orders
• Short orders that need a locate are not supported overnight
• Borrow rates are indicative and can change. The rate charged is determined at billing

Short selling involves substantial risk, including potentially unlimited loss, and requires a margin account. Locates are not guaranteed and availability varies.

Changelog

• Earnings call transcripts are available. A new endpoint returns full transcripts by fiscal quarter, linked from each earnings event.
• Omni got smarter. Omni should now be more intelligent and significantly better at math.
• Contextual buttons. Chart Buy and Sell buttons appear only on tickers you can trade, on web.
• Overnight margin is now visible. Account balances endpoint now reports the equity required to hold positions overnight, including per-position contributors.
• Quality-of-life: watchlist improvements on web, and fill notifications consolidated so a burst of partial fills sends one alert instead of many. (Web / Mobile)

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