Securities Lending & Borrowing


Borrowing Cost

Cost of borrowing typically includes (1) administrative charge, (2) borrowing fee and (3) contract settlement fee. Borrowing fee is computed on a daily basis (non-compounded) where:

Borrowing fee per day = Borrowing Rate / 365 days x Last Done Closing Price x Quantity

Administration Charge*SGD 20 per loan contract
Borrowing Rate for SharesMinimum borrowing fee of SGD 15 applies. Interest varies between counters. Contact our SBL desk at or your Trading Representative (TR) for more information.
CDP Transfer FeeRefer to the fees here.
Contract Settlement Fee*SGD 0.35 per contract
Negative (debit) Cash Ledger Interest SGD: 6% p.a.
USD: 7% p.a.
HKD: 7% p.a.

*Charges are subject to GST

Margin Ratio

Margin Ratio (MR) = Total Market Value of Collateral* / Total Market Value of Borrowed & Sold Securities

MR must be maintained above 130% of the market value of the borrowed and sold securities at all times. A margin call will be initiated if the MR falls below the requirement.
*Collateral includes:

  1. Sales proceeds from short-sell trades
  2. Cash pledged into SBL account
  3. Securities pledged into SBL account

In summary:

  • Top up within 2 days
    120% < MR < 130%
  • Top up immediately
    MR < 120%

Interested in borrowing and lending securities?

Contact us to Open an Account

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