Please read and understand the following risks of using Fully Paid Security Lending when deciding if it is right for you.
Securities on loan are not protected by SIPC. The collateral delivered may constitute the only source of satisfaction of APEX Clearing's obligation in the event the securities are not returned.
Loss of voting rights.
Tax consequences from receiving cash in lieu of dividends (if security pays dividends).
Securities loaned out are typically used to facilitate short sales.
There is no guarantee that shares will be lent out or no guarantee that you will receive the best loan rates for your shares.
Interest rates can move daily and are subject to market conditions.
For detailed information about the risks and process of Fully Paid Security Lending please refer to APEX Fully Paid Lending Disclosures and Master Securities Lending Agreement.