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Tool Illustrative · Indicative Only

Indicative LTV calculator.

A transparent way to see the indicative territory an institutional stock-loan LTV might occupy — built from the drivers this site itself sets out. It returns a range, never a quote.

Loan-to-value on an institutional stock loan is a calculated output, not a published rate. This calculator does not change that. What it does is make the reasoning legible: enter a few high-level characteristics of a position, and it applies the same drivers described in Loan-to-Value Calibration — liquidity and free float, volatility, position size relative to the market, concentration, and recourse — to place an illustrative range. It is not an offer, a quote, or advice, and it collects nothing you enter.

Illustrative and indicative only — not an offer, quote, or advice. Actual terms are set case-by-case after review. The firm publishes no rate card. This tool runs entirely in your browser, makes no network calls, and stores nothing. Do not enter material non-public information.

A rough proxy for typical volatility and market depth only. The issuer, not the sector, drives the real calibration.
Order of magnitude only, in any major currency. Used as context for scale, not as a price input.
Depth of the market a lender would trade into. Thinner liquidity lowers the range.
Higher volatility requires a larger haircut, lowering the range.
How long a lender would need to liquidate the pledge. Larger relative size lowers the range.
Non-recourse shifts tail risk to the lender, which lowers the range.

The calculation runs in your browser. Nothing is submitted or stored.

Method
How It Works

The heuristic, disclosed.

The calculator is deliberately simple and fully transparent. There is no hidden model and no data feed. It applies the drivers this site sets out, and it always produces a range.

  • 1
    Start from a broad illustrative base. Institutional stock-loan LTVs are calibrated per position and are typically wider than standardised retail margin ratios. The tool begins from a wide illustrative band and never treats it as a published number.
  • 2
    Adjust for liquidity and free float. Deeper free float and higher trading volume support a more comfortable illustration; a thin, concentrated market pulls it lower. See the calibration framework.
  • 3
    Adjust for volatility. A higher-volatility underlying needs a larger cushion, so the range moves down; a stable, mature underlying moves it up.
  • 4
    Adjust for position size versus its market. A pledge that would take months to liquidate is haircut more than one that clears in days.
  • 5
    Adjust for concentration and sector proxy. Concentrated registers and higher-volatility sectors nudge the range lower; deep, stable sectors nudge it up. Sector is a proxy only.
  • 6
    Adjust for recourse. Full recourse preserves the higher end; non-recourse, which shifts tail risk to the lender, sits lower. See recourse profiles.
  • ·
    Report a range, never a point. The output is always an approximate band with an inline illustrative caveat. It is never presented as a single precise figure, because a single figure would imply a quote that does not exist.

What the calculator cannot see is as important as what it can. It has no view of the specific issuer, the exact position, custody arrangements, prevailing institutional credit conditions, cross-currency exposure, or your objectives — all of which move a real calibration. For that reason the output is a broad indication only, and the real number is established at the indicative-terms stage after review.

Related
Read the Framework

The reasoning behind it.

Loan-to-Value Calibration

The six position variables and the structural variables that determine LTV on a stock loan.

Read →

Typical LTV: Nasdaq vs HKEX

Why LTV is a property of the position, not the exchange — and what the listing market does change.

Read →

Securities-Backed Lending

How the instrument works: pledged shares, retained ownership, LTV, tenor, recourse, and custody.

Read →
FAQ
Common Questions

On this tool.

Q · 01 Is this an offer or a quote?
No. The output is illustrative and indicative only. It is not an offer, a quote, a commitment, or advice. The firm publishes no rate card. An actual indicative loan-to-value is calibrated to the specific position and structure at the indicative-terms stage, typically within one to two business days of an enquiry.
Q · 02 How is the range calculated?
The tool starts from a broad illustrative base band for institutional stock loans and adjusts within it using the factors this site itself identifies as the drivers of LTV: liquidity and free float, volatility, the size of the position relative to its market, concentration, and the recourse profile. Deeper liquidity, lower volatility, a smaller relative position, and full recourse move the illustration toward the upper end; thinner liquidity, higher volatility, a large relative position, concentrated registers, and non-recourse move it toward the lower end. The full method is disclosed above. It runs entirely in your browser and always returns a range, never a single figure.
Q · 03 Why does my sector matter?
Sector is used only as a rough proxy for typical volatility and liquidity depth. Large-cap, low-volatility sectors such as consumer staples or utilities tend to sit toward the upper end of the illustration, while higher-volatility sectors such as biotechnology or early-stage technology tend to sit lower. Sector is a starting proxy only; the actual calibration is driven by the specific issuer and position, not by the sector label.
Q · 04 Does the tool store or send my inputs anywhere?
No. The calculator is entirely client-side. Nothing you enter is stored, logged, or transmitted. There are no network calls, and no material non-public information should be entered. Closing or refreshing the page discards everything.
Q · 05 Why is the output a range and not a precise number?
Because a single number would be misleading. Loan-to-value on an institutional stock loan is a calculated output that depends on variables the calculator cannot see, including the specific issuer, the exact position, prevailing institutional credit conditions, custody arrangements, and tenor. A range communicates the indicative territory honestly; a precise figure would imply a quote that does not exist.

Want the real indicative terms?

Submit a confidential enquiry. A senior principal will calibrate indicative terms to your specific position and respond within one business day.

Submit a Confidential Enquiry