Securities Lending and Borrowing
Trading & ordersAlso called: SLB
A screen-based, order-driven and anonymous market for borrowing shares against a fee, with the clearing corporation standing between lender and borrower.
In plain terms
The only route that carries a short past an expiry date without a paid roll, with tenures running to about a year. The catch is availability: in exactly the names a bearish thesis tends to be about, there may be no lender at any price, and the lender can recall early.