Replies to post #74521 on Imagination TV Inc. (IMTV)

[tbrays]

we did not get uplisted.

[ronaldo1149]

Due to the increase in costs associated with clearing illiquid securities, beginning October 1, 2011, positions that are greater than 10% of the 20-day average daily volume within a security, regardless of the price of the security will result in charges from NSCC. Therefore, all orders in OTCBB and Pink Sheet securities where the order quantity is greater than 10% of the 20-day average daily volume of that security will be rejected. You will be notified with a message stating: “Rejected: Order violates PFSI illiquid security policy.” Further, if you execute transactions under the trading thresholds and accrue positions that exceed 10% of the 20-day average daily volume NSCC charges will also apply. Apex reserves the right to restrict accounts to "liquidating only" for those whose trading has created an illiquid charge. For all transactions resulting in a NSCC illiquid charge, the following interest rates and a $250 fee will be applied:

0 to 3 million dollars: an annualized charge of 15% for the number of days on the NSCC report
3 to 5 million dollars: an annualized charge of 20% for the number of days on the NSCC report
5 million dollars and up: an annualized charge of 25% for the number of days on the NSCC repor

[Howzitgoing]

Perchy, that originated as a love note from Penson.

Can anybody explain this? First time it happened to me, what did we do, get uplisted?
2012-08-29 12:05:48 Rejected Sell 74335 0 ICPA Stock Limit 1.8 2012-08-29 12:06:00 GTC cancel / modify Violates OTC illiquid security policy

Tried to change it from .21

Your broker clears through Penson, right? That's the PFSI in the previous explanation.

Short answer is to change to a broker that doesn't clear through Penson. Many investors are collateral damage due to Penson's restructuring plans (translation screwups). Search lawsuits.

Probably a better, short answer is to ask your broker. If I'm reading it correctly, your order doesn't appear to violate the percentage rule.

ICPA 20-Day Average Volume - 10,171,731

10,171,731  
10% ×
--------------------------
1,017,173.1 =

GL

[Howzitgoing]

perchy, friendly reminder.

While we're on the topic of ICPA and Choice Trades:

Any securities in the undersigned’s margin or short account may be borrowed by you, or lent to others.

Why a broker is allowed to rent (lend) an investor's shares so that the shares are working AGAINST (shorting) the investor is beyond me. That's why investors with margin accounts should request a Loan Exempt Restriction from their brokers.

http://www.choicetrade.com/public/support/forms.php
Margin/Short Agreement

---

Update on Choice Trades/Clearing:

Penson Worldwide has sold its clearing operations to PEAK6 Investments. Chicago-based PEAK6 is forming a new entity, Apex Clearing Corporation, as a result of the acquisition.

Apex Clearing Corporation today announced the completion of the previously announced acquisition of the correspondent and customer accounts and contracts of the U.S. securities division of Penson Financial Services, Inc., a subsidiary of Penson Worldwide, Inc. (PNSN). The company will begin operations on June 6.

... covers approximately 230 U.S.-based securities correspondents and one million customer accounts.

[Spuds McKenz66]

i believe it's based on a 20 day ave. GO ICPA just happened to me ,more commission's taking advantage of us

[Rich]

Order violates OTC illiquid security policy

Due to the increase in costs associated with clearing illiquid securities, beginning October 1, 2011, positions that are greater than 10% of the 20-day average daily volume within a security, regardless of the price of the security will result in charges from NSCC. Therefore, all orders in OTCBB and Pink Sheet securities where the order quantity is greater than 10% of the 20-day average daily volume of that security will be rejected. You will be notified with a message stating: “Rejected: Order violates PFSI illiquid security policy.” Further, if you execute transactions under the trading thresholds and accrue positions that exceed 10% of the 20-day average daily volume NSCC charges will also apply.