Hey guys, I'm in the market for a new broker that provides the best Short Locate Service for Hard To Borrow SPAC shares. Especially during the days when they are about to de-spac, all the inventory at IBKR Pro (my current broker) dries up. I did some research and CenterPoint and Cobra seem to be two good candidates. I want to know if anyone recommends them or perhaps has a better brokerage that caters to SPAC HTB stocks specifically. All help is appreciated. PS: If you happen to have those platforms, try looking up inventory for $RNER, whoever has it, as of today 4th Jan, would be better IMO.
Have you looked into TradeZero? They advertise their short-selling locate service for HTB stocks here on ET all the time.
From what I've heard, TradeZero charges $30 for ticker changes and other corporate actions. SPACs have a lot of those and paying $30 for each corp action isn't fun. Unless they are absolutely the best in locating shares, I don't think it makes sense to switch.
Tradezero charged 4 times multiples of overnight short but they changed back to 1 as I checked recently. They do not have api
When looking for a broker specializing in short locate services for hard-to-borrow (HTB) SPAC shares, consider factors like reputation, inventory availability, borrowing costs, trading tools/platform, and customer service. CenterPoint and Cobra are known brokers, but it's best to do your own research