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Thanks for your response.
It's not really an award as per a lawsuit. Its a special distribution coming from the company's assets which are being held in escrow pending a court outcome in the state of Delaware.
Two weeks ago AABA issues a part of this special distribution of $8.33 per shared to the holders on record at the time of dissolution. I received it through my broker account, no counsel involved. The company has said another distribution is forthcoming. They cannot say when and how much though.
My discount broker is insisting i must remove these shares as thy are non-qualified for a registered account. My concern is losing ownership of these shares which would make me lose any potential future distribution. Its a substantial amount.
My quest is to find a way to have my name registered to these shares and to remove them from my account at the same time. Someway the distribution would have to find a way to me.
Thanks for your input.
A person cannot register shares at the DTCC. A broker sponsors a companies shares after FINRA approval of a ticker symbol.
If the stock was suspended and or revoked those shares under that CUSIP are done.
If you are awarded a class action lawsuit, the dispersement comes from the lawfirm representing you.
You need a legal counsel, not the DTCC.
Help, advice with Registering with DTC help
Newbie here, not sure if i am in the right forum or not, but i'm trying to figure out how to register my shares of AABA with the DTC so that when the court settlement payout comes, it comes to me.
My broker has told me I must get rid of these shares in my RRSP(Canada) because they are non-qualified and subject to penalty. Shares do not trade and the company,AABA, has been delisted. I have to get rid of shares,
( I cannot transfer to other accounts) but i also need to maintain ownership. They are registered with the DTC but i need to be sure my name is the registered owner. My discount broker, Questrade, is useless at offering any advice. Anyone have any suggestions? Thank You
Need the updated pdf consolidated format documentation. It seems like it updated yesterday but the new spec is behind their paywall. It’s found here: https://dtcclearning.com/products-and-services/equities-clearing/exchange-traded-fund-etf/etf-working-groups.html
I get the actual pcf file from my broker and the old spec is public. For whatever reason, the new update isn’t. Can anyone help?
I agree it is not, it seems we are now back to relying on the SEC to act and the SRO's to report. That wasn't working before and the SEC hasn't picked up on the pace of suspending and revoking shells fast enough.
"Quite simple the lack of DTCC actions and direct impact on pennystock trading no longer makes it a need for discussion. As long as gamblers can trade their stock with no restrictions there are little to no complaints."
Why does this not read as a good thing to me?
Quite simple the lack of DTCC actions and direct impact on pennystock trading no longer makes it a need for discussion. As long as gamblers can trade their stock with no restrictions there are little to no complaints. The only holdouts are the usual conspiracy theorists of the abusive naked short loons who still believe their 40 Billion share AS scams were shorted.
How can such a great informative board not have any posts for two years?
Ah, yes, "Deepcapture." They do for investment knowledge what "Infowars" does for political discourse.
When you have websites like deep capture and other bullshit conspiracy sites it will be perpetuated b6 the ignorant and unaware. There are very rarely those who will take the time and learn Reh SHO and it's reporting reuqirements. But most will just regurgitate what they read from others on IHUB and other wbe sites who want to believe that someone else is the cause of their bad investment.
Well, AlanCs are constantly being made. All it takes is being scammed and an inability to accept being scammed.
Add to that the Richard Altomares and Jonathan Bryants of the scam world, who blame their malfeasance on the ENSSFM, and there will always be more!
Agreed, the reason I posted it was due to the recent activity of restoring DTCC services to rather well known scams. In June there were groups of tickers restored including BEHL, Left behind games or the ole Rudy Rudiger beverage ticker, all have been restored.
Oddly enough some were restored just to be suspended shortly after like THRA. So this appears to be more of a cooperative effort allowing the SEC to regulate as opposed to the optics of the DTCC regulating by restricting services.
But... That's from almost a year ago, 6 December 2016. And I still don't really understand it. It seems DTCC, for some reason annoyed about the whole business, withdrew its earlier proposals without explanation, and didn't substitute any new ones.
And then it apparently shrugged and walked away, as the SEC gutted its power to impose chills and locks. I still don't get it.
New Rules approved by the SEC for Chills and Global Locks:
https://www.sec.gov/rules/sro/dtc/2016/34-79488.pdf
Please come explain this again to the rubes on the CCTC board. I think we may have another Alan C in the making!
I appreciate your knowledge and help!
Correct thus why the release of Short Interest reports are delayed as well as FTD data. It prevents exposing exact positions, especially in illiquid securities like the OTC.
You can sometimes spot short interest in FTD data but the stock is likely illiquid and very small positions and 9f course by the time the FTD report publishes the likelyhood of that position existing in the current day is very small.
I have only found a couple of examples over the years.
Yes, I assumed this info is kept private by the brokers as they would surely take advantage of such data. I was hoping to find a way to track this myself.
It is Short Volume, intra day. There is no such thing as Naked Short Interest and Equity Short Interest, those are made up terms based on the short volume report provided by FINRA for OTC.
As I said earlier there is no WY to know what position the short volume is, although we know it is almost always in the OTC long position transactions between Market Maker to Broker through Riskless Principal transactions.
Kind of what I thought. I sent a message to Finra learning center to ask same. No reply yet. Also, just found this OTC Short Report. The have in their chart two categories, Naked Short Interest, and Equity Short Interest. What is this RegSho data reported by Finra they have indicated as source?
True when talking Short Interest, I just assumed his questions were Shot Volume related, as days to cover the open position is T+3.
But as you stated Short Interest it is an averaged number of days based on trade volume. It is a metric that doesn't represent actual covering, but the minimum days it would take to close that Short Interest Position if it were to be closed.
I thought "days to cover" was how many sessions it would take for the current short position to be closed out, based on average daily volume.
Many of them--most, really--are 1 day, so it's not taking into account t+3.
No way to know retail vs intra day MM action. Just as no way to know if it is long or short position taken. That is why it is worthless raw data, it is just a piece of the picture, you see the rest in the FTD report as to settlement and of course actual short positions taken in the Bi Monthly Short Interest reports.
Days to cover is the number of days in which the trade transaction must be settled. The settlement process is currently trade day plus 3 additional trade days to cover either the shares to deliver or the cash to deliver. Here in a couple of months it will be adjusted to trade day plus 2, since typically 99.9% of trade transactions are settled just on Trade Date alone.
Thanks Big Bake I read this a few times to understand it....more or less!
So is there any way to know the volume of short positions taken by the retail trader?
Another question.. in either Finra or SEC I have seen a list.. what you referred to in your article here I believe... and so what does it mean by "days to cover"? thanks, best regards, monroe
Friend of mine sent an email, but the first time they just gave the OTC Market website as a reference...lol
They are as user friendly as DTC is...
He emailed them again this weekend for a more substantial answer
We'll see...
I will post here if they ever give the exact info about all those numbers
Well, neither do I... Why not just call the TA?
Agree, but it's more complicated then it was anyway
Thanks for sharing your knowledge even if i still don't know how they do those almost impossible things about the float...
Mostly the ones showing some "held at dtc" vs other ones without any of those
It isn't DTCC's fault. There's nothing new about this. The single largest nominee shareholder in any company is CEDE.
All the stock you own is held by CEDE, unless you happen to have some restricted stock, or some certs.
Really strange. Guess we'll never know what's really happening from now on...
Thanks to DTCC for really helping us make the OTC great again...lol
Yes. Street name stock is ALWAYS part of the float.
Yep.But what i want to know is: Are they part of the float like here, cuz 107 Million float looks impossible.
Complete non sense cuz the chart shows otherwise
107 Million shares were never traded since last r/s
Yes, that's right. The "shares held at DTC" are the float, approximately. It's possible there're some additional free trading shares held in certificate form. That would only happen if the owner(s) of those certs didn't deposit them with their brokers. Or if their brokers refused to accept them for deposit.
The street name shares of ALL companies are held by CEDE.
Here's an explanation from a ihubber
He may not be right, though....
bfly, the dtc sheets aka security position reports will show EXACTLY how many shares are held in dtc.....these are the shares held in street name by all brokers.......its the best method to determine the true and authentic float that can be traded daily.....
as an example.......say for instance the xfr agent is showing 60mil shares in the i/o......some of that may be held in free trading shares, but in CERT form.......so yes, its in the float and yes, it may be free trading.......but because its in cert form......its NOT in a brokerage account.....not in street name and would NOT show up on the DTC sheets.......therefore in that case, the float may be smaller than what the xfr agent is saying......another example would be: i/o may in fact be more than what is shown by the xfr agent if those certs have recently been deposited.........
security position report is the ONLY way to go! he can get a snapshot EVERY week on the activity for each day of the week
it will cost him $150/month.......someone buy 20 apps from him and tell him to get it done!
you guys ABSOLUTELY POSITIVELY need to know where you stand!!!!!i would INSIST on it!!!!!!
do you need the info on how to apply again?
mikey
And they are part of the float in those 107 Million shares?
That doesn't make sense, unless they weren't traded till NOW
Not user friendly....lol
Not surprised.
They are as good as all those OTC CEOs
There is no point at all in calling DTC. They are not user-friendly. But "shares held at DTC" are the share held in street name.
Worst thing is that they are paid for that...lol...
Friend of mine will try to have the whole thing explained from the TA
And if not satisfied, he will call DTC, or one of their 100s of offices...lol...
lol, I agree. In some cases the new system fails to clarify.
Those numbers were recently updated by the TA if really trustable
Many of those shares restricted are from preffereds also....
So they have a ratio of conversion...
I think that the real float should be around 25 Millions from what i've been able to see about what those "held at dtc" mean...
Aren't they supposed to help us getting a clear picture instead of implementing new rules that almost nobody can really understand???
No wonder the mexicans f**** the whole system last year...lol...
No. Trouble is, the float number is from a year ago, while all the other numbers are from the end of May 2017.
But the "held at DTC" figure should be the shares on deposit with CEDE, DTCC's nominee company. That is, they should be all the shares held in street name. So why is the "unrestricted" number 108 million? I suppose it's possible that in the past year, about 25 million shares came off restriction. If so, they're probably at CEDE now, unless the owners decided to keep their certs, or couldn't get them cleared.
Well if they are tradable, i have some problems to calculate the exact float of this ticker here:
The float cannot be 107 Million imo, cuz the company did a 1/50 RS in 2012, and the volume since 5 years doesn't match with that kind of float
DTC website explanation of "held at DTC" suggest that those shares will be added to the float only when they are really traded...
If my maths understanding is right, the present float would be 107 Million - 82 Million to equal around 25 Million
Right or Wrong???
TIA
Not in the OTC.
Thanks a lot Janice
Exactly what i thought
Read that sometimes they do that prior of a merger or when an institional buyer has many shares
They're tradable shares; shares held in street name and deposited at CEDE.
Question for a DTC specialist here:
Would like to know the meaning of the number of shares HELD AT DTC, that we see pretty often when we check the OTC website to know what that SS of a ticker is....
Are those shares NOT tradable due to a kind of holding by the DTC????
That's what I thought, as that's what I've been seeing. Thanks.
Since March 2012 the "chill" has very little impact other than a few brokers restricting purchase of shares of those tickers. Only the Global Lock carries real trading restrictions that completely stop them from trading.
Hi Big. Can you explain the problem companies face when their stock gets chilled? I see that GCRU was chilled back in February but it doesn't seem to have affected trading any.
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