DAISHIN SECURITIES announced on the 5th that it will hold a "new subscription event for the stock lending service," which pays cash when borrowing stocks.
Stock lending refers to the act of customers lending their stocks through a securities company to third parties, such as institutions. In return for lending the stocks, investors can receive a lending fee. The event will provide payments based on the maintained lending balance: ▲ for balances of 100 million won or more, 20,000 won per 100 million won (up to 1 million won) ▲ for balances between 50 million won and less than 100 million won, 15,000 won ▲ for balances between 10 million won and less than 50 million won, 10,000 won. The event will run until August 29, and the target participants are individual customers over the age of 19 who newly subscribe to the stock lending service at DAISHIN SECURITIES. Subscribing to the stock lending service during the event period will automatically enter participants into the event, and they must maintain the service until September 12 to receive cash. One person can participate in the event through multiple accounts. However, the maximum amount based on the resident registration number is 10 million won, and duplicate payments for balance tiers will not be made. The corporate sales department of DAISHIN SECURITIES noted, "Since the complete resumption of short selling at the end of March, there has been a growing interest in stock lending among individual investors," and added, "DAISHIN SECURITIES will strive for secure stock lending transactions for customers." Other detailed information related to the event can be found on DAISHIN SECURITIES' Cybos and Creon (HTS, MTS) and their website.
Stocks borrowed through the stock lending service are used for various investment purposes, including settlement of trading transactions, arbitrage, hedging, re-lending, and short selling. DAISHIN SECURITIES explained, "It is possible to temporarily suspend transactions for specific stocks, and requests for recovery can be made at any time if necessary."