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Introducing the Short Locate Feature to the DAS Software

DAS is pleased to announce the Short Locate application on our live trading platform.  This feature allows the trader to instantly request locates of hard-to-borrow securities without having to contact your broker.  Normally, the process takes up to 20-30 minutes of a trader’s time, but with this feature the trader bypasses the lengthy process of negotiating a symbol’s price, shares, etc. with the broker and allows him or her the instant ability to short non-ETB stock on the software.

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DAS offers this feature for a $15 monthly fee.  It does however require that your broker is compatible with this feature, so you must contact your broker to be sure they also have this feature. For more information about short selling, please read our blog “What is Shorting or Going Short” by clicking on the following link: https://dastrader.com/blog/?p=179.  Below is a concise explanation of how to use this feature on the DAS software.

How does the Short Locate feature work?

With the Short Locate app, you simply identify which stocks you want to sell short and send locate requests for the needed shares for each symbol either before the market open or before the desired trade. This allows you to incorporate hard-to-borrow short sales in automated trading strategies throughout the trading day.

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All short locate requests are valid for same-day trading, and new locate requests are required for each trading day. Any approved requests for shares that are not used by the end of the same trading day will expire.  Short locate requests can be placed at any time during standard trading hours between 8 a.m. and 4 p.m. EST.

Specific step-by-step instructions for using this feature on the DAS platform can be requested by contact our support staff at [email protected].