How is margin trading and short selling interest calculated?
1. Margin Interest:
(not differentiated by stock, only by currency)
Margin Interest = Margin Amount * Margin Rate / 360
Margin interest is calculated daily at 23:00 market time (US stocks at 23:00 US time, Hong Kong stocks at 23:00 Hong Kong time).
If there is a loan, interest will be settled (after calculating interest, the interest will be deducted from the available balance).
2. Short Selling Interest:
Short Selling Interest = (Individual Stock Closing Price * 102% (rounded up) * Number of Short Positions * Individual Stock Short Selling Rate (Short Selling Fee Rate) / 360
Individual stock closing price refers to the after-hours closing price.
Short selling interest is calculated daily at 23:00 market time (US stocks at 23:00 US time, Hong Kong stocks at 23:00 Hong Kong time).
If there are borrowed shares, interest will be settled (after calculating interest, the interest will be deducted from the available balance).
If you buy on the same day and sell before 23:00 on the same day, no interest will be charged.
Interest is also calculated during non-trading hours (holidays, Saturdays and Sundays). You will be charged interest for as many days as you hold.
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BIYA GLOBAL LLC is a licensed entity registered with the U.S. Securities and Exchange Commission (SEC No.: 802-127417); a certified member of the Financial Industry Regulatory Authority (FINRA) (Central Registration Depository CRD No.: 325027); regulated by the Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission (SEC).
BIYA GLOBAL LLC is registered with the Financial Crimes Enforcement Network (FinCEN), an agency under the U.S. Department of the Treasury, as a Money Services Business (MSB), with registration number 31000218637349, and regulated by the Financial Crimes Enforcement Network (FinCEN).
BIYA GLOBAL LIMITED is a registered Financial Service Provider (FSP) in New Zealand, with registration number FSP1007221, and is also a registered member of the Financial Services Complaints Limited (FSCL), an independent dispute resolution scheme in New Zealand.