Short Locates Tab
Features in the "Short Locates" tab in Neovest's "Order Entry Preferences" box let you enter the short locates from which you are certain you may borrow shares once you choose to short an equity that is not "easy-to-borrow."
Once you enter one or more short locates in the "Short Locates" tab, your short locate(s) will appear on the "Short Locate" drop-down menu in the "This Security Is Not Easy-to-Borrow" dialog box after you click Sell Short in a Neovest Order Entry or Order Entry Montage window to short an equity that is not "easy-to-borrow."
Your entered short locates will also appear on the "Short Locate" drop-down menu in one of four "Confirm" dialog boxes each time you attempt to send a sell short order in a Neovest Montage or Order Entry Montage window using an Action Button.
In other words, once you click Sell Short in a Neovest Order Entry or Order Entry Montage window or click on an Action Button that has been set up to send a Broker, Single, Bundled, or Multi Sell Short order, one of several confirm-type dialog boxes containing the "Short Locate" drop-down menu will appear, which will let you select a short locate for a particular equity, if the equity is not "easy-to-borrow."
Note: In order for a "Confirm" box to appear after you click on an Action Button, you must have first checked "Confirm Order" during the set up process of the Single, Bundled, or Multi order action that you have assigned to the Action Button. For information regarding how you may check the "Confirm Order" feature during the set up process of a Single, Bundled, or Multi order action, refer to the "Single Order Action" section in the "Action Buttons" section in either the "Montage" or "OE Montage" chapter of Neovest's Help documentation. For more information on Neovest's various "Confirm" boxes, refer to the "Confirming an Order" section in the "Action Buttons" section in either the "Montage" or "OE Montage" chapter of Neovest's Help documentation.
The following instructions explain how you may enter the short locates from which you are certain you may borrow shares once you choose to short an equity that is not "easy-to-borrow":
With an Order Entry Montage window open on your screen, click the gear icon, located on the far-right of the toolbar in the "Order Entry" section of the Order Entry Montage window.
Click the "Preferences" icon on the drop-down menu that appears.
Once the "Order Entry Preferences" box appears, select the "Short Locates" tab, and click Add.
Enter the name of the short locate you wish in the "Location Name" box, and click OK. (Keep in mind that you may repeat this process to enter as many short locates as you wish.)
Note: Each short locate that you enter in the "Location Name" box must be an actual broker from which you are certain you may borrow an equity that is not "easy-to-borrow."