Shorting ASX stocks unleveraged

[nizar]

Who offers this service and what are the charges?

Thanks.

 

[professor_frink]

IB offer shorting. Here is the list

Not sure what charges are involved, apart from brokerage of course.

 

[sails]

Here's an Oz broker that allows shorting, Nizar - http://www.traderdealer.com.au/ - I've never used them for shorting so this is not a recommendation, however I've found them to offer excellent service for the couple of years I have been with them. Their fee rates for equities are interesting in that you can trade several times in one day per confirmation for a $33 flat fee for the day - so could be good for scalpers. Here is an excerpt from their site explaining the conditions:

Equity Trading
Using Trader Dealer’s WebIRESS trading platform, you are able to trade for a flat fee of $33 (inc GST) for trades up to $200,000 per confirmation.

Total Trade Size Brokerage (inc GST)
$10,000 $33.00
$100,000 $33.00
$200,000 $33.00
$300,000 $41.80
$500,000 $59.40
$1,000,000 $103.40


No additional fees are charged for automatic Stop Loss (contingent) orders - these are priced exactly the same as a normal live order.

There are several unique aspects to this commission structure that we believe makes trading through Trader Dealer more cost effective. Most brokers charge brokerage on a per order basis. Trader Dealer recognises that you may wish to spread your purchases and sales over a trading session, and feels that a decision to do this should not be unduly impacted by cost considerations. In order to achieve this goal, Trader Dealer charges per confirmation issued to you. This charge is not inclusive of Software & Data fees (see below under Software & Data fees).

Confirmations are issued at the end of the trading day for any transactions that occur. An individual Confirmation is issued for a buy or a sell in an individual stock, and is issued irrespective of whether an order is deemed to be complete, i.e. you wished to purchase 1,000 shares and only 800 are completed. If the balance of this order is filled the next day then a new confirmation would be issued for the purchase of the remaining 200 shares, i.e. in this situation two confirmations would be generated thus resulting in two brokerage charges of $33.

Multiple trades at up to 12 different price levels and $200,000 in total value can be placed on one confirmation. Further trades at additional price lines will appear on a second confirmation on which brokerage will also be charged.

Total Trade Size Brokerage Rate (inc GST)
Up to $200,000 Flat rate of $33
$200,001 to $1 million $33 plus 0.0088% above $200,000
Greater than $1 million $103.40 plus 0.033% above $1M

Trader Dealer offers all investors the same low brokerage fee.

More info on fees: http://www.traderdealer.com.au/clients/fees.php

Following is an excerpt from an email advising of price reductions from the 1st November 2007 (also option prices are being reduced):

...From 1 November 2007, the Trader Dealer GST inclusive trading price schedule for ASX Equities, Warrants and Fixed Interest products will be:


Contract Note Values
Trader Dealer Brokerage (Including GST)

$1 to $200,000
Flat rate of $33

$200,001 to $1 Million
$33 plus 0.0275% of the value over $200,000

Greater than $1 Million
$253.00 plus 0.055% of the value over $1 Million


This trading price schedule will also apply to the exercise or assignment of Options, plus any ASX and ACH fees.

I am also pleased to confirm that one contract note will continue to provide up to 12 price levels per direction per day and that the frequent trader discounts remain in place.

We are also taking this opportunity to revise the Exchange Traded Options pricing and will be introducing a new, simpler brokerage structure. From 1 November 2007, the GST inclusive rate of $2.42 per contract will apply with a minimum brokerage amount of $26.40.

If you have any questions or concerns, please call us on 1300 769 380.

Cheers

PS - I have no affilliation with Trader Dealer except being a happy customer

 

[trishan9390]

Macq Prime does it. $20 per transaction.

 

[nomore4s]

Macq Prime does it. $20 per transaction.

Nizar I've been using Mac prime, not bad, lets you short asx stocks with or without leverage (you can pick your overall leverage), pretty happy with them atm.

PS They charge you a fee for shorting - as per below
STOCK LENDING CHARGE
A Stock Lending Charge is payable to Macquarie if you hold a Short Position overnight. This fee is currently 2.50% pa of the Value of the Short Position, calculated and accrued daily and paid monthly in arrears.

 

[nizar]

Nizar I've been using Mac prime, not bad, lets you short asx stocks with or without leverage (you can pick your overall leverage), pretty happy with them atm.

PS They charge you a fee for shorting - as per below
STOCK LENDING CHARGE
A Stock Lending Charge is payable to Macquarie if you hold a Short Position overnight. This fee is currently 2.50% pa of the Value of the Short Position, calculated and accrued daily and paid monthly in arrears.

Nice one.
Yeh I was looking at their website today.
Impressive.