RE: america20304 Jul 2018 12:06
Found this on web: There are two types of stock loans that the firm offers. The first is a Title Transfer Loan "TTL" and in this situation, the stock loan borrower transfers the shares to the lender who keeps them during the duration of the loan. The lender returns the shares at the maturity of the stock loan.
Some borrowers can't or don't want to transfer the securities to the lender during the loan pendency. In those situations, a Broker Dealer acts as a neutral third party and keeps the securities (stocks) as a custodian. These are called No-Title Transfer "NTT" stock loans and in these cases, Broker Dealers are required because they act as a custodian.
The firm recently started focusing on the American securities lending market after a number of successful years in Europe and Asia.
Val Sklarov the firms President states the following; "In the USA, many OTC and stocks trading under $3 dollars are not margin-able, meaning the person who owns these stocks can't margin them (borrow against) or is having a difficult time finding financing sources. As a direct lender, we can provide stock loans for USA listed stocks trading on NASDAQ, OTC, AMEX as well as NYSE. There are many clients who require a stock loan but can't seem to find one. Our firms interest rates start at 2.9% with term length of up to 10 years. Our 16 new International Broker Dealer relationships will assist our continued growth as we enter new world markets and continue to grow." .. so mabey it was the ( broker dealer, custodian)