Reposting as this got no responses and might be in wrong category:
It appears unclear to me what the “HTB Rate” in the documentation is.
I understand that if I obtain a locate of 100 shares for $0.01/sh then there will be a $1 charge for the locate. But then if I execute the short sale and proceed to hold the position for multiple days overnight, the docs say the following:
Daily Stock Borrow Fee Calculation
If you hold an HTB short at any time during the day, you will incur a daily stock borrow fee:
Daily stock borrow fee = Daily HTB stock borrow fee
Where,
Daily HTB stock borrow fee = Σ((each stock’s HTB short $ market value _ that stock’s HTB rate) / 360)
**Please note that if you hold HTB short positions as of a Friday settlement date, you will incur stock borrow fees for 3 days (Fri, Sat, Sun). HTB stock borrow fees are charged in the nearest round lot (100 shares), regardless of the actual number of shares shorted. This is because stocks are borrowed in round lots.
However, the key component “That stock’s HTB rate” doesn’t seem to be defined anywhere else. Is this something I can pull from somewhere in the API? Is it just equal to Locate Cost/Share Price? Any guidance would be helpful.