What are the key advantages of using SBL facilities as opposed to other short selling tools?

You can have direct access to the market which you are trading. This is unlike over-the-counter products where you will be trading against the market makers. You can have up to transaction day + 1 (sales) to put in your collateral. You will not be charged a financing fee on securities pledged as collateral. There is no maintenance fee for a SBL account.

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