Thursday, May 10, 2012 5:48:29 PM
This only means that holders of new (dilution) shares who wish to sell can't do so by depositing their certificates with DTCC-affiliated brokers. However there are many non DTCC-affiliated brokers that self-clear and could be used for deposit of new (dilution shares). It also means that the DTCC charges higher fees to its affiliates brokers for settlement and clearance of MDGC stock.
I was also told that TDA is self-clearing and not an affiliate of the DTCC. TDA is apparently restricting the purchase of MDCG stock because they don't want to undergo the expense and hassle of settling buys with physical certs.
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