GREY:EORBF - Post by User
Post by
ElanS2on Feb 25, 2013 3:37pm
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Post# 21039770
Stopping shorting of my shares
Stopping shorting of my shares From what I learned today the only way to isolate "your" shares from being used to support shorting is to have them issued to you and sent to you as a paper certificate. At CIBCWG this will cost you $25. If you want the broker to hold the certificate for you the safekeeping fee is $50 per month per account in addition to the first time cost of the certificate. Issuing certificates is out of the question for registered accounts so this method will only apply to margin/investment accounts and removing the shares from the margin calculation will have implications like putting up more cash. Even putting in a sell order for $50 won't oblige the broker to put your stuff asside in case it sells.
Conclusion: we are screwed, hold on and don't sell.