Examples of Fully Paid Lending Programs
| Brokerage | Program Name | Key Features |
|---|---|---|
| Fidelity | Fully Paid Securities Lending Program | Daily interest, variable rates, collateral held at 102%, opt-in required |
| Charles Schwab | Securities Lending Income Program | Shares lent automatically once enrolled, interest paid monthly |
| ETRADE* | Fully Paid Lending Program | Transparent dashboard, collateralized loans, monthly income |
| Interactive Brokers | Stock Yield Enhancement Program | Shares lent to short sellers, competitive rates, full control over positions |
| Robinhood | Stock Lending | Automatic enrollment (opt-out available), simplified interface |
| TD Ameritrade | Merged into Schwab’s program | Now under Schwab’s umbrella post-acquisition |
What Sets Them Apart
-
Fidelity & Schwab: Offer robust transparency and collateral safeguards. Rates vary by stock demand.
-
Interactive Brokers: Ideal for active traders — more granular control and analytics.
-
Robinhood: Simplified for retail investors, but less control over lending specifics.
-
ETRADE*: Balanced approach with clear reporting and flexible opt-in.
