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Unable to trade... DTC Global Lock...

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ckaminsky   Thursday, 04/29/10 01:41:36 PM
Re: ckaminsky post# 7516
Post # of 10978 
Unable to trade... DTC Global Lock...

[citing from Y! board, I'm not the poster]
I talked with Ameritrade today asking them some questions about IGNT. They told me IGNT is on DTC Global lock, meaning they and various other brokers cannot trade this stock, buy or sell. I asked them how then can the stock show trading everyday for millions of shares? They didn't have a real definite answer other than some companies are still able to trade this stock. I then asked them if they could explain what some of the reason why a stock would have a lock on it. The main answer I received was that in some cases there are conterfeit shares that are sold under a stock, and to try and locate which shares are of "legal" trading and which are "illegal" they have to stop trading of the stock. This makes sense except there is still trading happening on this stock! Furthermore Ameritrade could not tell me what the actual reason is as to why there is a DTC Global lock on IGNT...

Anyone knowledgeable in this area have any information?

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